Asian Financial Forum (AFF) returns to explore collaborations

The 17th AFF will take place on 24 and 25 January, with active participation of over 3,000 financial experts and leaders from across the globe
Themed Multilateral Cooperation for a Shared Tomorrow, AFF aims to analyse the global economic outlook for the new year, and promote collaboration among countries and governments to achieve sustainability and seize emerging opportunities
The Forum will gather more than a hundred global business leaders as speakers, including representatives from Société Générale, Franklin Templeton, Gobi Partners, HOPU Investments, HSBC Asset Management, Bridgewater Associates, Prudential plc, and Standard Chartered
Plenary sessions will be expanded from one to two, along with two new discussion sessions on Stewarding China’s New Chapter and CIO Insights. The forum will focus on opportunities in Mainland China, ASEAN and the Middle East
The Dialogue with Bob Prince has been added to this year’s AFF on the second day. Mr Prince is Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund

HONG KONG, Jan 11, 2024 – (ACN Newswire) – The 17th Asian Financial Forum 2024 (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), is set to take place on 24 and 25 January 2024 (Wednesday and Thursday) at the Hong Kong Convention and Exhibition Centre (HKCEC). This year’s AFF, themed Multilateral Cooperation for a Shared Tomorrow, will be the first significant financial and business event in the region this year, bringing together over a hundred speakers, influential figures in the financial industry, global policymakers and business leaders. Speakers will thoroughly analyse the global economic outlook, actively promote collaboration in accordance with the policies of national and HKSAR governments, explore sustainable economic development models and collectively identify the abundant opportunities for multilateral cooperation. The Forum is expected to draw over 3,000 elite professionals from financial and business sectors, to facilitate fruitful exchanges and strengthen ties among industry leaders.

Luanne Lim, Chairperson of the AFF 2024 Steering Committee and HSBC’s Chief Executive Officer, Hong Kong, said: “The year 2024 is expected to be characterised by a slowdown in inflation and potential rate cuts. The focus of markets will be on the timing and extent of policy easing, as well as elections in multiple countries and regions. In these complex times, the Asian Financial Forum serves as a valuable platform for exchanging diverse perspectives and supporting multilateral cooperation. The collective wisdom of experts speaking at the AFF will give the participants a deeper understanding, enabling them to make well-informed decisions in the year ahead.”

Dr Patrick Lau, Deputy Executive Director, HKTDC, said: “Amidst global uncertainties and geopolitical tensions, accompanied by various challenges, new market opportunities and partners are emerging. To build a sustainable and inclusive development model, close communication and cooperation among nations are crucial. With the theme Multilateral Cooperation for a Shared Tomorrow, this year’s AFF will explore economic policies and multilateral cooperation opportunities among governments and governments (G2G), governments and businesses (G2B) and businesses and businesses (B2B) from multiple angles. It will also address a range of timely market-related issues, further promoting sustainable development and showcasing the advantages of Hong Kong as an international financial centre.”

This year’s Forum will encompass diverse events, including over 40 thematic discussions, policy dialogue, keynote luncheons and breakfast panel, and workshops. These sessions will explore pressing topics such as the global economic outlook, opportunities in Mainland China, investment prospects, green finance, financial technology and interest-rate trends. Their objective is to provide participants with valuable insights into internationally relevant issues and global economic development trends. These events will boost Hong Kong’s ties with the international community, fostering greater connections and generating more business opportunities.

ASEAN, Middle East market opportunities take centre stage as thematic discussions expand

ASEAN and the Middle East, with their considerable economic potential, hold crucial position in driving global multilateral cooperation. This year’s Forum has garnered enthusiastic responses, and a surge in participation from ASEAN, the Middle East and other parts of the globe is expected. To facilitate broader discussions and embrace sustainable economic development, the Plenary Sessions have been expanded from one to two, enabling financial leaders from ASEAN, the Middle East and other regions to convene and deliberate on future fiscal policy trends. Topics of significant focus will include the opportunities in the mainland, ASEAN and the Middle East.

On the first day of the AFF (24 January), Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, will preside over two Plenary Sessions. At the morning Plenary esteemed speakers including Ali bin Ahmad Alkuwari, Minister of Finance of Qatar; Julapun Amornvivat, Deputy Minister of Finance of Thailand; Mohamed Maait, Minister of Finance of Egypt; and Marko Primorac, Minister of Finance of Croatia, will share their countries’ respective outlooks on financial policies. At the afternoon Plenary, distinguished speakers including Muhammad Al Jasser, President of the Islamic Development Bank; Prof Hala Elsaid, Minister of Planning and Economic Development of Egypt; Alexandra Jour-Schroeder, Deputy Director-General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission; Suahasil Nazara Vice Minister of Finance, Indonesia and Dilma Rousseff, President of New Development Bank, will analyse the influence of multilateral cooperation on regional economic development, financial crises and sustainable economic growth.

On the same day Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will host the Policy Dialogue where esteemed representatives from the Asian Development Bank, Central Bank of Mongolia, Deutsche Bundesbank, Dubai Financial Services Authority, and International Monetary Fund will convene under the theme Towards International Economic and Financial Cooperation to exchange perspectives on global monetary policies.

Global leaders and Nobel laureates take the stage at keynote luncheon sessions

Another noteworthy aspect of the Forum will be two Keynote Luncheons featuring esteemed guests. Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, and Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller, Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, have been invited to deliver insightful speeches. Prof Sachs will delve into the topic of sustainable development, while Prof Diamond will discuss the future trajectory of United States Federal Reserve interest rate moves and the risks associated with economic development.

Dialogue with Bob Prince added as a special session

An additional session, Dialogue with Bob Prince, has been added to this year’s AFF on the second day. Mr Prince, Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund, will appear to share valuable investment insights and provide perspectives on the importance of multilateral cooperation.

Staying ahead of market trends with Stewarding China’s New Chapter and CIO Insights

In response to dynamic market opportunities and evolving industry trends, this year’s AFF will introduce Stewarding China’s New Chapter and CIO Insights, closely aligned with market conditions. The session Stewarding China’s New Chapter seeks to explore the mainland market potential and analyse collaborative prospects with other regions, underscoring the role and advantages of Hong Kong. CIO Insights will bring together chief investment officers from renowned international institutions to share unique perspectives on the investment landscape within the current macroeconomic environment. The HKTDC and Knowledge Partner PwC will also present the findings of a joint survey on the industry’s views and outlook on artificial intelligence. The results of this survey will be announced on the first day of the Forum.

The highly anticipated Global Economic Outlook, Global Spectrum, Dialogues for Tomorrow, and Fireside Chat sessions will return, covering topics such as asset and wealth management, insurance and risk management, multilateral capital market cooperation, food technology and supply chain security, financial technology, RMB internationalisation, financial technology, Web 3 and virtual assets, impact investing, and financial cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Islamic finance. Prominent speakers include Lorenzo Bini Smaghi, Chairman of Société Générale; Fang Feng-lei, Founder and Chairman of HOPU Investments; Jenny Johnson, President and Chief Executive Officer of Franklin Templeton; Nicolas Moreau, Global Chief Executive Officer of HSBC Asset Management; Thomas Tsao, Co-Founder of Gobi Partners; Anil Wadhwani, Chief Executive Officer of Prudential plc etc.

AFF Deal-making and exhibition connect investors and start-ups, driving innovation

To facilitate more substantial cooperation, the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA) are co-organising the AFF Deal-making. This platform enables participants to engage in one-on-one meetings, connecting them with funds and investment projects from around the world. The event will focus on key industries such as financial technology, environment, energy and clean technology, medical technology, deep technology and consumer goods. This year’s AFF Deal-making is expected to attract about 200 investors and approximately 400 projects. Following the conclusion of the Forum, participants can utilize online matching services for virtual meetings until 30 January (Tuesday) to continue exploring key opportunities in different fields.

The Forum continues to feature exhibition zones including Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone to introduce cutting-edge applications of financial technology and showcase future unicorn innovation concepts. The exhibition zones are expected to bring together over 140 local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner PwC, HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International, Cyberport and more.

The Global Investment Zone includes participation from countries such as Canada, Dubai, Egypt, Finland, Kuwait, Luxembourg, Mainland China, Malaysia, Mauritius, Portugal and Spain. Investment promotion agencies from these countries will introduce local investment environments and potential projects on-site. The InnoVenture Salon is dedicated to supporting start-up development and provides a platform for more than 100 start-ups to connect with international investors and potential partners, of which 60 fintech start-ups from Hong Kong, Australia, Austria, France, Japan, Korea, the Mainland, Singapore, Thailand, the United States and Vietnam under the FintechHK Startup Salon will showcase innovative concepts in areas such as AI, blockchain, insurtech, payment technology, regulatory technology, and wealthtech.

Exclusive offers for AFF participants

As the first major financial and business event in the region for the year, the AFF is committed to telling the good story of Hong Kong and promoting large-scale events or exhibitions. Organisers have arranged experiential activities for overseas participants, including one-time privileged access to the airport lounge, free admission to the Hong Kong Palace Museum, 1-hour night tour of Hong Kong aboard an open-top Big Bus or Hong Kong’s iconic Aqua Luna red-sail junk boat arranged by the Hong Kong Tourism Board. Furthermore, participation in the Standard Chartered Hong Kong Marathon 2024, dining discounts and guided tours by the Lan Kwai Fong Group, dining discounts at Harbour City and Times Square, and discounted passes for Hong Kong attractions through Klook will be available. These initiatives aim to provide overseas visitors with a firsthand experience of the vibrant colours, rich culture and dynamic lifestyle that Hong Kong has to offer.

Websites
Asian Financial Forum: https://www.asianfinancialforum.com/aff/
Programme: https://www.asianfinancialforum.com/conference/aff/en/programme
Speaker List: https://www.asianfinancialforum.com/conference/aff/en/speakers

Members of the media interested in interviewing speakers at the Asian Financial Forum can email awong@yuantung.com.hk or tleung@yuantung.com.hk by 16 January 2024.

Photos Download: https://bit.ly/3SnNqfD

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, of HSBC (second from right); Patrick Lau, Deputy Executive Director of the HKTDC (second from left); Loretta Fong, Mainland China and Hong Kong Sustainability Deputy Leader, PwC Hong Kong (first from left); and Amy Lo, Chairman, Executive Committee, Private Wealth Management Association (first from right) held a press conference today to introduce the programme and speaker’s line-up for the 17th Asian Financial Forum.

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, HSBC

Patrick Lau, Deputy Executive Director of the HKTDC

Loretta Fong, Mainland China and Hong Kong Sustainability Deputy Leader, PwC Hong Kong

Amy Lo, Chairman, Executive Committee, Private Wealth Management Association

Media enquires

Yuan Tung Financial Relations:
Anson Wong, Tel: (852) 3428 3413, Email: awong@yuantung.com.hk
Tiffany Leung, Tel: (852) 3428 2361, Email: tleung@yuantung.com.hk
Hing-fung Wong, Tel: (852) 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: (852) 2584 4525, Email: snowy.sn.chan@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Magma Group Announces Positive Withdrawal from Legal Proceedings, Sets Stage for a New Beginning

KUALA LUMPUR, Jan 10, 2024 – (ACN Newswire) – Magma Group Berhad (“Magma” or the “Company”), a dynamic investment holding group, today announced a significant development in the Company’s ongoing legal proceedings.

Dato' Sri Thomas Liang Chee Fong, Managing Director of Magma — Dato’ Sri Thomas Liang Chee Fong, Managing Director of Magma

During the Case Management held on 9 January 2024, the Court granted permission for Public Bank Berhad (“the Plaintiff”) to withdraw the Suit against the Defendants, which includes Astaka Mekar Sdn Bhd, a wholly-owned subsidiary of Magma. This withdrawal is executed with the liberty to file afresh and without any order as to costs, marking a pivotal moment for the Company.

The Suit, originally filed by Public Bank Berhad against Magma Group Berhad’s subsidiaries and associated parties, stemmed from disputes regarding the settlement of outstanding sums under various Term Loan Facilities and Overdraft Facility. The Plaintiff had sought substantial repayments, including accrued interest, from the Defendants under these facilities.

In the positive turn of events, the Court had allowed for a withdrawal of the Suit, signals a hopeful stride for Magma Group Berhad. It offers an avenue for the Company to recalibrate its focus and strategies for future opportunities, untethered from the constraints of this protracted legal battle.

Dato’ Sri Thomas Liang Chee Fong, Managing Director of Magma Group Berhad, expressed his views on this development: “This decision marks a watershed moment for Magma Group Berhad. It allows us to start afresh, leaving behind the challenges we’ve faced in the legal arena. Our focus now shifts to harnessing new opportunities and reinforcing our commitment to sustainable business growth. We are optimistic about the future and are poised to explore new avenues that align with our strategic objectives.”

Magma remains steadfast in the Company’s commitment to uphold strong corporate governance and ethical business practices. The Company believes that this new chapter will enable it to strengthen its market position and deliver greater value to its shareholders and stakeholders.

The Company will continue to provide updates on further developments in due course.

As at 10 January 2024, 12:30 P.M., the share price of Magma stood at RM0.270, representing a market capitalisation of RM255.2 million.

HKTDC & UOB Research: 85% of GBA businesses prioritise ASEAN sales

HONG KONG, Jan 9, 2024 – (ACN Newswire) – About 85% of businesses in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) plan to maintain or grow their sales to the ASEAN bloc of countries in the next three years, according to a research report released by the Hong Kong Trade Development Council (HKTDC) and UOB today. The report – Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area – also indicated that Malaysia, Singapore, Thailand and Vietnam were the top sales markets for expansion-minded GBA businesses, while Vietnam remained top choice for procurement and production outsourcing.

Overall, the report shed some light on why GBA businesses found ASEAN appealing. The sheer scale of the ASEAN market was singled out by 55.9% of research respondents as a key catalyst for their expansion plans. Scale was ahead of the 49.6% accorded to government incentives and investment policies and 32.8% which cited enhanced e-commerce access.

The HKTDC-UOB survey conducted in the third quarter of last year took the form of a questionnaire completed by 671 GBA enterprises, supplemented by in-depth interviews with a representative number of GBA businesses.

More GBA companies plan to expand into ASEAN markets

The survey found more than 70% of respondents planned to expand to ASEAN in the next three years, compared with 60% in a similar survey conducted in 2021. The number is even higher for those already established in ASEAN, with 96% of such businesses planning to maintain or expand operations in the next three years.

GBA companies across the four surveyed sectors – consumer goods; business, professional and financial services; real estate, hospitality and construction; and technology, media and telecommunications – all saw Malaysia, Singapore and Thailand as having the greatest potential to thrive in. In terms of industrial goods, GBA businesses considered Malaysia, Singapore and Vietnam their priority markets. Malaysia’s popularity across companies in the four sectors was considerably higher than in the 2021 survey.

Key challenges

GBA businesses regarded navigating local government policies and regulations (48.6%) as the key challenge to expanding their market share within ASEAN, followed by cultural or language barriers (38.7%) and difficulties in obtaining talent (26.4%). This differs notably from the 2021 survey, which identified inadequate infrastructure, difficulties in finding the right local partners and the increasing cost of doing business as the top three challenges.

Mrs Christine Ip, CEO – Greater China, UOB, said: “UOB is dedicated to driving business connectivity between ASEAN and China. We see the a strong trend among GBA enterprises to spread their wings abroad and boost long-term growth. With our cross-border and customised financial solutions, foreign direct investment advisory services and a deep understanding of local markets, sector knowledge and partnership ecosystem, we help to reduce barriers of cross-border expansion, address supply chain risks and minimise financing costs for customers. Since the inception of the UOB Foreign Direct Investment Advisory unit in 2011, we have supported nearly 4,000 companies to successfully enter ASEAN markets. This success underscores the Bank’s commitment to doing right by our customers.”

Hong Kong’s connectivity with GBA and ASEAN

In another key finding, most GBA businesses had a particularly high regard for Hong Kong’s strong connectivity with both the GBA and ASEAN bloc – more than 70% of respondents accorded the city a score of seven or more out of 10. Hong Kong’s expertise in service provision was seen as essential for sustained success in the ASEAN market and also its most admired asset. Hong Kong scored highly for its expertise in legal compliance, cross-border infrastructure finance and logistics. This was seen as an endorsement of the quality of services the city provides and an indication of the massive contribution Hong Kong is set to make as the GBA continues to prosper.

Commenting on the findings, Mr Louis Chan, Deputy Director of HKTDC Research, said: “This survey confirms both the bold and outward-looking nature of the GBA’s overall development strategy, while highlighting the essential role Hong Kong can play in ensuring this initiative reaches its full potential. It shows beyond doubt that synergy between the GBA members assures them of a better future than they could have achieved alone.”

Mrs Ip added: “In tandem with the promotion of free trade agreements, technology empowerment and higher business plans, the findings show we stand at the crossroads of burgeoning investment opportunities between Greater China and ASEAN. Hong Kong has a unique position as a super connector and value-adder, driving financial innovation, facilitating cross-border trade and nurturing economic prosperity to shape a future where business connectivity in this dynamic region knows no boundaries.”

Regional integration, digitalisation and cost management essential for ASEAN success

Overall, 53.7% of GBA companies noted that geographic economic integration initiatives, particularly the Regional Comprehensive Economic Partnership (RCEP), were likely to boost their chances of success within ASEAN, followed by digitalisation (51.9%) and cost management, including moving production to lower-cost locations (40.8%).

Most respondents credited the effectiveness of RCEP at streamlining and accelerating trade between the region’s most dynamic economies – including Mainland China, Indonesia, Malaysia, Singapore, Thailand and Vietnam – as the main reason for its success.

Surveyed enterprises also believed digitalisation had been crucial for the maintenance of economic and supply chain resilience amid the unprecedented impact of the pandemic. They also viewed digitalisation as a key productivity driver, reducing operational costs and facilitating business and investment expansion in the region. In all, 23.2% of companies saw digitalisation as a priority for their business which was likely to boost their chances of successfully entering the ASEAN market.

Related materials

• HKTDC Research: https://research.hktdc.com/en

• The report in Chinese – Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area can be downloaded from the websites of HKTDC and UOB Hong Kong.

Photos Download: https://bit.ly/48CTRkg

Christine Ip, CEO – Greater China, UOB (right) and Louis Chan, Deputy Director of HKTDC Research (left), release the Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area research report

Louis Chan, Deputy Director of HKTDC Research

Christine Ip, CEO – Greater China, UOB

Media enquires
HKTDC’s Communications & Public Affairs Department:
Frankie Leung, Tel: (852) 2584 4298, Email: frankie.cy.leung@hktdc.org
Clayton Lauw, Tel: (852) 2584 4472, Email: clayton.y.lauw@hktdc.org

UOB Hong Kong:
Susanna Liu, Tel: (852) 2123 7537, Email: susanna.liuwy@uobgroup.com
Sarah Tsang, Tel: (852) 2123 7536, Email: sarah.tsangsw@uobgroup.com

Yuan Tung Financial Relations:
Agnes Yiu, Tel: (852) 3428 5690, Email: ayiu@yuantung.com.hk
Hing-fung Wong, Tel: (852) 3428 3122, Email: hfwong@yuantung.com.hk

About HKTDC

About UOB

UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.

For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within and connecting to ASEAN.

The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to helping businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.

Dubai Taxi (DTC) Launches Regular Taxi Service for People of Determination

DUBAI, Jan 9, 2024 – (ACN Newswire) – The Dubai Taxi Co PJSC (“DTC”), a leading provider of comprehensive mobility solutions in Dubai, has announced the launch of a new service for people of determination (POD), enabling them to book regular taxis through “DTC App”.

Importantly, it includes the option for users to avail of the same 50% discount that is offered with the dedicated service for people of determination. The system is designed to be accessible for holders of the Sanad card for people of determination in Dubai, enabling them to use this service efficiently and electronically.

The new initiative comes in line with DTC’s commitment to improving services for people of determination, adhering to the highest international standards in public and transport services.

It also reflects the company’s social responsibility and its efforts to introduce smart initiatives that support the government’s goals of integrating and empowering people of determination in the community, thereby enhancing their happiness and quality of life.

Innovative proactive services

Abdullah Ibrahim Al Meer, Acting Chief Business Transformation Officer at DTC, emphasized that the launch of the new service reflects the company’s commitment to continually enhance its services and offer an innovative model of smart and proactive services. “We look forward to enhancing customer satisfaction, particularly among people of determination,” Al Meer added.

“DTC has always strived to align its services with the needs of people of determination, in compliance with the highest global standards, and we will continue to do so to provide them with top-tier transportation services and contribute significantly to Dubai’s reputation as an inclusive city for people of determination,” he further said.

Al Meer noted that there has been a growing demand for DTC’s vehicles designed for people of determination. Consequently, the launch of this digital service is part of the company’s efforts to expand and streamline the provision of transportation services for this group by leveraging modern and efficient methods. This service enables people of determination, including residents, visitors, and tourists, to access regular taxi services conveniently and swiftly, further enhancing their mobility.

Speed and flexibility

Dubai Taxi Company currently offers the “People of Determination Taxi” service through its smart application, featuring modern vehicles equipped with state-of-the-art amenities to ensure a comfortable and convenient transportation experience. The service guarantees safe and reliable transportation options for people of determination, available round the clock.

Dubai Taxi Co App

The “DTC App” is one of the useful public transport apps in Dubai facilitating residents to book exclusive, safe and comfortable taxis and limousines. The app allows users with multiple taxi and payment options, for instance, direct payment or through the credit card. The Dubai Taxi Co App can be downloaded on Android or iOS.

Contact:
The Dubai Taxi Co PJSC (DTC)
Email: media@dtc.gov.ae
URL: https://dubaitaxi.ae/en

Contents.com $18 Million in Series B Funding to Fuel Global Expansion and Technological Advancements for AI Content Creation and Orchestration

NEW YORK, Jan 9, 2024 – (ACN Newswire) – Contents.com today announces a new Series B funding round of $18 million, supported by major European and American venture capital funds.

This funding aims to consolidate its leadership position in the market for generating and orchestrating multilingual content for medium and large enterprises, thanks to its proprietary all-in-one technology platform based on artificial intelligence. AI is revolutionizing the way people acquire information and satisfy their thirst for knowledge.

Founded in 2021, Contents.com has rapidly expanded its international presence, now boasting clients in Europe, Latin America, North America, and Asia. Worldwide, medium and large enterprises use the Contents.com SaaS technology platform to manage integrated and coordinated workflows for producing multilanguage and multi-format digital content, including images and videos. The Contents.com platform offers an optimized user experience, integrated with major CMS, eCommerce, and DAM solutions in the enterprise sector. It simplifies the use of the most famous international LLMs (Large Language Models) to produce original content, thereby reducing time and costs while maintaining quality. This facilitates the work of the marketing, ecommerce, and media management departments of client companies.

Since its establishment in 2021, Contents.com has experienced remarkable growth, attracting thousands of customers globally, including several billion-dollar companies, and achieving double-digit year-over-year growth. The company’s mission is to integrate AI seamlessly into business operations. This funding will enhance their technological capabilities and expand their global team, reinforcing their leadership in the AI content creation industry.

Sinergia Venture Fund of Alkemia Capital is leading Contents.com’s operation, with participation from Thomson Reuters Ventures and others. The capital raised from this initiative is earmarked for significant expansion of Contents.com’s international business. This includes enhancing their technological capabilities and solutions, as well as a strategic increase in their corporate staff, with a particular emphasis on growing their Innovation Technology and Sales teams.

“In an era where innovation drives progress, Contents.com aims to assist global companies to stay ahead. On this extraordinary journey, our fundraising philosophy has remained the same: to seek not just funding, but collaborations that align with our values and innovative vision. Series B isn’t just a financial milestone, but a demonstration of our bold challenge to the conventions of the tech world. This funding will push us beyond traditional boundaries, revolutionizing high-quality, multilingual content creation globally. We’re committed to transforming global communication, connecting ideas and cultures through AI-based advanced solutions. Together with our partners, we’re redefining the global tech landscape, making an impact well beyond our corporate growth. We are here with Contents.com to influence global content creation,” declares Massimiliano Squillace, CEO & Founder of Contents.com.

“We are excited about our role as the lead investor in the recent capital increase of Contents.com. Our trust in Massimiliano, the founder, and his exceptional team is the foundation of this decision. We strongly believe in their vision and Contents.com’s innovative approach to the generative AI market. The generative AI market is in a phase of exponential growth, with forecasts indicating a global market value that could exceed $50 billion by 2026. This technology is opening new frontiers in various sectors, from digital marketing to industrial automation. Contents.com is perfectly positioned to capitalize on these opportunities and drive innovation in this rapidly evolving sector,” says Simone Cremonini, Partner of Sinergia Venture Fund of Alkemia Capital.

“The Contents.com team has built an application that enables the practical use of generative AI for enterprise content creation. We are excited to work with them to bring the application’s rich capabilities to our teams and to our customers so that in turn, they can create high quality multilingual content,” says Tamara Steffens, Managing Director of Thomson Reuters Ventures.

For this Series B transaction, Contents.com was represented by Orrick, Herrington & Sutcliffe LLP. An experienced team led by Partner Attilio Mazzilli and Of Counsel Livia Maria Pedroni provided strategic legal advice, underscoring Orrick’s commitment to supporting innovation and growth in the technology sector.

About Contents.com

Contents.com is Series B company leader in AI content creation for enterprise, providing a robust AI platform that facilitates the generation of diverse content types including text, audio, video, and animations. The platform is equipped with advanced tools tailored to support a variety of content needs. Its innovative Brand Voice service stands out, allowing businesses to craft content that resonates with their unique brand identity through AI-driven customization. Designed for a wide range of users, from small bloggers to large corporations, Contents.com makes content creation more efficient, creative, and accessible in multiple languages, catering to a global audience.

For more information, please visit the website www.contents.com and follow us on LinkedIn

Press Contacts
Email: hello@contents.com
Press Office Email: press@contents.com

Via Paolo da Cannobio, 9 – 20122 Milan
304 S Jones Blvd #6089 – Las Vegas, NV 89107

Contact Information
Sara Brianzoni
PR & Event Manager EMEA
sbrianzoni@contents.com

Martina Relli
PR & Event Specialist
mrelli@contents.com

Source: Contents.com

It’s 2024. Can Technology Drive a New Nigerian Economy?

LAGOS, NG, Jan 1, 2024 – (ACN Newswire) – Some 20+ years ago, in what keen observers have described as a “leapfrog” and as “the telecom revolution”, Nigeria leapfrogged from 400 thousand landlines to 80 million mobile lines in months. It remains the largest singular developmental stride Nigeria has taken in its 63 years of existence. Structured mass adoption of new technology enabled Nigeria to circumvent normal step-by-step processes to arrive at its destination ahead of time, and ahead of others who were there before them in the Telecom Industry.

Nigeria's Minister of innovation, Science & Technology

Deploying similar strategies, Nigeria can achieve similar outcomes in Clean Energy and Power, and in different areas of Technology. Take Artificial Intelligence (AI). McKinsey estimates that by the year 2030, the global AI economy will be at $16 trillion annually. (That’s larger than the entire American economy!)

So what will it take for Nigeria to stamp the AI revolution like we did in the Telecoms revolution?

I put this question to Ray Sharma a few weeks ago over dinner in an artsy and eclectic restaurant in London’s Tech City or Silicon Roundabout. Ray is one of earth’s most aggressive Technology Venture Capitalists with successes that include Expedia and Tinder. Ray agreed with me that primarily, it will take human resource.

Human resource is Nigeria’s abundant blessing. After India and China, Nigeria has the highest number of skilled Tech workforce in the diaspora. That’s an army waiting to be unleashed on the innovative gateway.

What about the in-country population? A whopping 160 million youth – below the age of 35. The vast majority of whom are smart, hungry, innovative, and trainable. Such a resource wealth can catapult any nation on earth when intention and strategy align. Recruit them and funnel them into Frontier Technologies. AI. Blockchain. Robotics. IoT, and the like.

Should Nigeria unleash her potential upon the AI space, with a modest ambition to capture 0.1% of the value of that emerging industry, in just 5 years, she would have created a $16 billion a year industry. And from just AI! Add Blockchain Technology, Fintech, IoT, Robotics, Clean Tech, Methanol and Hydrogen Production, etc, then you begin to envisage a horizon of endless possibilities.

What’s my point?

With her huge, young, smart, innovative and teachable workforce, plus a seemingly insatiable global tech market, Nigeria could create the kind of alternative national wealth and economy that will dwarf her entire budget and present economy.

Technology enables us to leapfrog, to deliver a Technology revolution, and create a new Nigeria with our international partners.

EdenBase (with Domineum) is partnering with us to create Tech Ecosystems like it did with London Tech City and in Switzerland. We are building out manufacturing capacity for Methanol and EV lithium-ion batteries. These will lay the foundation for our proposed AI-driven Renewable Smart Mini Grids to power our Innovation Parks and Tech Cities plus trigger massive manufacturing (Additive and Green) in partnership with Germany’s IMAPS Institute for Material Applications. We are building out the BPO (and other outsourcing) industry and will partner to prepare millions of Nigerian youth for careers in diverse technology-driven spaces ranging from the soft (data, AI, blockchain, etc) to the hard (hardware skills, welding, digital production, etc). We have partnered to develop and launch the world’s first mass V2X project where we manufacture/assemble Electric Vehicles (EV), powered by Renewable Energy (RE) with bi-directional charging/discharging capabilities that enables your EV to act as a generator that powers homes or factories after performing its ‘car duties’ of ferrying you around. Now that’s what a leapfrog looks like.

Clean energy and Intelligent RE Minigrids – powering and driving manufacturing. Productive Tech ecosystems – partnering world class institutions to trigger innovative startups on scale. These will drive the unleashing of the creativity of Nigeria’s enormous, smart, innovative and youthful population. They, in turn will drive the emergence of the new Nigerian economy, independent of fossil fuels, and constructed on the altar of Innovation, Science & Technology.

In 2024, Nigeria is truly open for business – the Business of Technology, Clean Technology. Those who missed the opportunities unearthed by Nigeria’s telecom revolution some two-decades ago, now have the opportunity to get on board this boundless Tech Revolution in the largest untapped single market on planet earth.

Is it possible to deliver these and more on scale? Can Nigeria leapfrog her way to near the front of the line in clean energy and power generation, green manufacturing and outsourcing?

You bet!

And in Nigeria’s Ministry of Innovation, Science and Technology, Minister Uche Nnaji is betting on it too.

Contact:
Emeka Orjih, MBA (Wharton), Technical Adviser on International Cooperation & Finance to the Minister of Innovation, Science and Technology, Nigeria. emeka.orjih@scienceandtech.gov.ng

The Federal Ministry of Innovation, Science and Technology, Nigeria is one of the strategic Ministries of Government with the responsibility of facilitating the development and deployment of Innovative Science and Technology to enhance the pace of Socio-economic development of the country. www.scienceandtech.gov.ng

Mercury Securities Achieves Healthy Performance for Q4FY2023

KUALA LUMPUR, Dec 26, 2023 – (ACN Newswire) – Mercury Securities Group Berhad (“Mercury Securities” or “Company”), today announced the Company’s consolidated financial results for the fourth quarter ended 31 October 2023 (“Q4FY2023”), marking a period of sustained growth.

For Q4FY2023, the Group reported revenue of RM8.71 million, which signifies a notable increase of 19.93% from RM7.26 million in the preceding quarter (“Q3FY2023”), despite challenging market conditions domestically and internationally, underscoring the Group’s performance resilience. The stockbroking segment contributed RM6.35 million, while the corporate finance segment added RM2.36 million, reflecting the Group’s multi-channel revenue stream.

Mercury Securities’ gross profit margin stood at 57.93% for Q4FY2023. The Profit Before Tax (“PBT”) for the cumulative quarters reached RM12.46 million, after fully charging the one-off non-recurring listing expenses of RM3.93 million. Excluding this one-off non-recurring listing expenses of RM3.93 million, the Group performed creditably with PBT for the current quarter of RM4.60 million and RM16.39 million for the full financial year.

The Board of Directors is pleased to declare a maiden interim dividend of 0.5 sen per share based on the entitlement date of 12 January 2024 whilst the payment date has been fixed on 2 February 2024. The Group continues to be committed to creating value for its shareholders and other stakeholders.

The Management of Mercury Securities commented, “Our credible performance this quarter, evidenced by a meaningful increase in revenue and a healthy gross profit margin, demonstrates the effectiveness of our business strategies. These results underscore our resilience and our all-round proficiency in a mixed market environment. We are particularly proud of our team’s efforts in achieving these results and remain focused on sustaining this growth trajectory.”

Looking ahead, Mercury Securities is steadfast in the Group’s commitment to driving revenue growth and optimising operating costs. Key initiatives include expanding its share margin financing portfolio, enhancing its online trading platform with algorithmic capabilities to increase market share, enlarging its proprietary trading teams and adding corporate finance personnel to further expand the corporate finance division.

Mercury Securities will also be introducing new products and services to further diversify its revenue channels and thereby expand its clients base. With these strategies in place, the Group is poised to navigate future challenges and capitalise on opportunities for the Group’s continued growth and performance.

There are no comparative year-on-year figures as Mercury Securities was only listed on the ACE Market of Bursa Malaysia on 19 September 2023.

SCG Decor PCL (SCGD) debuts on SET with largest IPO of the year

BANGKOK, Dec 20, 2023 – (ACN Newswire) – SCG Decor PCL (SET: SCGD) debuted on the SET with the largest IPO of the year. The company is advancing its investment plan to foster stronger growth while implementing a strategy to grow its business by expanding into the decorative surface materials and sanitary ware markets in the ASEAN region.

Mr. Numpol Malichai, CEO and President of SCG Decor PCL (SCGD), reported that the company successfully traded its shares (SET: SCGD) for the first time on December 20, 2023, on the SET under the construction materials category. This significant move is part of the strategic restructuring of SCGD’s business to position itself as the core company within the SCG group, focusing on decorative surface materials and sanitary ware products. It aims to strengthen its financial position to support business expansion plans, ensure working capital for ongoing operations, and adjust capital structures. With over 40 years of experience and expertise in the industry, SCGD is confident that its plans to expand into the decorative surface materials and sanitary ware markets in the ASEAN region will drive robust growth.

The company has continuous plans for investment expansion, having already invested in various projects. These include initiatives such as:

1. Investments to reduce energy costs and enhance production efficiency, such as installing solar power generation systems in factories utilizing biomass for hot air production in the production powder for tile manufacturing in Thailand, Indonesia, and Vietnam to reduce natural gas and coal consumption; reusing heat from furnaces in the production processes in Vietnam and the Philippines; upgrading production lines and kilns to accommodate new products and improve efficiency.

2. Production line investment projects, including establishing a state-of-the-art SPC tile factory in Saraburi; expanding the production capacity for large-sized tiles and glazed porcelain in Vietnam; studying plans for setting up a new sanitary ware factory.

The company sees opportunities to expand the market for sanitary ware and a diverse range of decorative surface material products in the ASEAN region. This market has great growth potential due to economic trends, growing population, and rising incomes. The company has formulated key strategies for business expansion, including:

1) Expanding the sanitary ware business in ASEAN by leveraging strong production bases in Thailand, sourcing products from China and Vietnam, accepting a broad range of branded products, and expanding its retail and online channels, including distributor networks in Vietnam.

2) Strengthen Thailand’s decorative surface materials business and expand it to ASEAN. This involves increasing sales of High-Value Added (HVA) products, studying investment plans for tile factories in southern Vietnam, expanding markets through SCG’s sales channels, expanding the SPC tile market in ASEAN, and investing in projects to expand and enhance production efficiency.

3) Expanding related products and services to reinforce leadership in comprehensive surface decoration and sanitary ware services. This includes adding to the product portfolio and collaborating with potential partners in ASEAN.

4) Managing the production supply chain efficiently, focusing on cost management, sourcing, and improving production efficiency towards a Smart & Green Factory to enhance profit-making capabilities.

5) Sustainable growth through developing eco-friendly products and environmentally friendly production processes. The company aims to increase the proportion of SCG Green Choice products to 80% of sales by 2040 and strives towards Net Zero Carbon by 2060.

Although the company’s performance in the first 9 months of 2023 slightly lagged compared to the same period in the previous year, given the real estate situation in Vietnam, with revenue from sales at 21,522 million baht and a net profit of 760 million baht (after adjusting for non-recurring items), in the third quarter of 2023, the company achieved revenue from sales of 7,186 million baht and a net profit of 280 million baht (after adjusting for non-recurring items), representing an increase of 1.1% and 22.9%, respectively, compared to the previous quarter. This reflects an overall improvement in the economy, having passed its lowest point, and a positive trend in the market for the upcoming year. The company maintains a robust financial position, with a net debt-to-equity ratio of 0.3. Additionally, the gradually decreasing natural gas prices have positively impacted the company’s production costs.

Mr. Pichet Sithi-Amnuai, President of Bualuang Securities Public Company Limited, acting as financial advisor and underwriter, stated that SCGD is a robust company in various dimensions. It is a leader in the decorative surface and sanitary ware products business in the ASEAN region, holding the number one market share for ceramic tiles in Thailand, Vietnam, and the Philippines. Moreover, it is also the top market share holder for sanitary ware products in Thailand. The company is recognized and accepted across the ASEAN region, covering a wide customer base. It has a skilled product design and development team, modern production processes and technologies, comprehensive regional distribution channels, and is committed to sustainable growth under ESG principles.

The SCGD IPO is considered the largest this year, with a market capitalization of 18,975 million baht at the IPO price. The securities have recently been registered on the Stock Exchange of Thailand, replacing COTTO, which was delisted following its business structure adjustment plan. The IPO includes the first-ever offering to the general public and an offering to existing COTTO shareholders, involving 439,100,000 shares, equivalent to 26.61% of the company’s total issued and paid-up ordinary shares. The offering has received positive responses from investors and existing COTTO shareholders who responded well to the share purchase offer.

Distributed by MT Multimedia Co., Ltd. on behalf of SCG Decor PCLi (SCGD)
For more information, please contact Thiyaporn Sriadunphan (Dah)
Tel: +66 87 556 6974 l, Email: thiyaporn.s@mtmultimedia.com

Indonesia and Japan Forge Deals in Energy and Transportation Support

JAKARTA, Dec 20, 2023 – (ACN Newswire) – During his visit to Japan, Indonesian President Joko Widodo obtained support in several sectors, including energy, transportation, and the economy. The Indonesian President visited Tokyo to attend the Japan-ASEAN Summit on Saturday (Dec 16) and the AZEC Summit on Monday (Dec 18).

During Monday’s inaugural AZEC Summit (Asia Zero Emission Community), Indonesia obtained at least 24 energy transition projects. “The summit’s deliverables include 69 cooperation agreements on energy transition, 24 of which are projects that will be worked on together by Indonesia and Japan,” Foreign Affairs Minister Retno Marsudi said.

The 24 projects involve various parties, including state-run electricity company PT PLN, state-run fertilizer enterprise Pupuk Indonesia, the National Capital Authority (OIKN), and PPT Energy Trading Co. Ltd., and cover aspects such as capacity-building for energy transition, ‘waste-to-energy,’ decarbonization, and the development of electric transmission, geothermal, and green ammonia.

The AZEC, co-initiated by Indonesia and Japan, is a platform for countries to cooperate in achieving net-zero emissions in Asia and its surrounding areas. Australia, Brunei Darussalam, the Philippines, Cambodia, Laos, Malaysia, Singapore, Thailand, and Vietnam are community members.

Indonesia considers it essential to support cooperation in decarbonization through inclusive financing and the transfer of low-carbon technology. Indonesia hoped Japan would support its downstream mineral industry and emerge as a crucial player in the global supply chain of electric vehicle batteries.

During the bilateral meeting between President Widodo and Japanese Prime Minister Fumio Kishida on Saturday (Dec 16), the leaders discussed the Jakarta Mass Rapid Transit (MRT) system, hoping that construction of the north-south corridor continues as planned with a commitment from Japan for the East-West Corridor, with groundbreaking set for August 2024.

The two leaders witnessed an MoU signing on cooperation worth 10 billion yen (equal to Rp1 trillion) between Harapan Kita Hospital and Tokushukai Medical Corporation to improve cardiovascular services in the Asian region.

Widodo and Kishida also received proposal documents issued during the ASEAN-Japan Young Business Leaders’ Summit and the ASEAN-Japan Gen-Z Business Leaders’ Summit, and they witnessed the exchange of documents on the grant of a patrol ship worth US$ 63.3 million from the Japanese government to the Indonesian Maritime Security Agency (Bakamla).

Besides the economic sector, Indonesia discussed the current situation in Palestine with Japan. Widodo reiterated Indonesia’s commitment to pushing for a lasting ceasefire, planning continuous humanitarian aid, and encouraging the immediate commencement of a peace process to end the prolonged conflict.

Hong Kong: An ideal listing destination for Middle East companies

HONG KONG, Dec 20, 2023 – (ACN Newswire) – Hong Kong is an ideal listing destination for Middle East businesses, according to a new joint report by the Hong Kong Trade Development Council (HKTDC) and CCB International Capital Limited (CCB International). The report, which is released today, shows that many companies in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) see the city as their first choice when it comes to securing funding, building stronger ties with Asia (particularly China), and, ultimately, enjoying greater global recognition.^

In order to explore the potential for UAE and KSA companies to secure listings in Hong Kong, the HKTDC and CCB International renewed their collaboration [1] to deliver the new report – Hong Kong: An Ideal Overseas Listing Venue for Middle East Companies. This led them to share a series of insights from in-depth interviews with UAE and KSA industry experts and practitioners as to Hong Kong‘s suitability as a listing destination for Middle East companies. The research, which was conducted from June to October this year, concluded that several Middle East business sectors in particular – Energy and Renewable Energy, Healthcare and High-tech, Infrastructure, and Finance – had the most to benefit from a Hong Kong listing.

Commenting on the significance of the findings, Irina Fan, Director of HKTDC Research, said: “For those Middle East companies looking to expand in the region, access to Hong Kong’s diverse pool of international institutional investors will clearly be of huge benefit. This is especially the case as many such investors have an in-depth understanding of both the pan-Asia and China-specific opportunities now emerging.” She adds, “Another plus point is the impressive breadth and depth of the Hong Kong stock market. The high level of trading activity that underpins this is a clear indication of just how robust the city’s capital market has proven over the long-term.”

Michelle Pan, Head of Corporate Finance & Capital Market Services at CCB International, said: “Following the visits of President Xi and HKSAR Chief Executive John Lee to the Middle East over the past two years, the Hong Kong capital market has begun exploring opportunities for collaboration between Middle East companies and the Hong Kong financial markets. In this context, this all-rounded research paper has been developed to explain why Hong Kong, with its unique attributes, is an ideal listing and fund raising destination for Middle East enterprises. The paper provides a comprehensive analysis of the benefits of listing in Hong Kong, including access to a deep pool of capital, a world-class regulatory framework, a vibrant and dynamic business environment, and a gateway to the vast Chinese market.”

Middle East: Looking at opportunities in new markets

Middle East stock exchanges have witnessed record-breaking initial public offerings (IPOs) in recent years, with bourses in KSA and UAE all ranking among the world’s top 10 in 2022 in terms of IPO funds raised. The opportunities stemming from overseas listings, primary, dual-primary and secondary included, however, have yet to be fully exploited.

At present, many UAE and KSA companies are actively looking at opportunities in new markets and seeking funding via equity markets as they look to deliver on their global expansion plans, many of which align with the region’s commitment to economic diversification as it looks to move on from its traditional dependence on its oil and gas resources. A clear synergy, however, has become apparent between the region and fast-growing Asia, something seen as offering tremendous opportunities for many UAE and KSA businesses as they look to make good on their economic diversification aspirations.

For many UAE and KSA companies, pursuing an overseas listing is not only a way of financing their overseas expansion projects, but also an effective marketing channel as they look to enhance their global recognition and improve their visibility and credibility among clients, institutions and the investing public in a number of target markets.

Hong Kong advantages: location, rule of law, impressive market breadth and depth, global investor base

During the course of the research, interviews with a number of experts highlighted the unique benefits on offer to Middle East companies that look to list in Hong Kong, one of the world’s most highly regarded financial centres. Strategically located at the gateway to many of Asia’s major markets – most notably mainland China and the ASEAN bloc – Hong Kong has considerable appeal for UAE and KSA companies. Most notably, a Hong Kong listing will ensure such businesses can fully leverage the advantages of the city’s strategic location, while gaining access to its well-established networks and stable business environment and benefitting from its rule of law and its abundant talent pool, which is widely seen as capable of delivering the highest quality of professional service. The city’s unique advantages also extend to the absence of capital controls and a transparent, resilient Linked Exchange Rate System.

Hong Kong’s robust legal framework – something that Middle East companies value particularly highly – is a significant advantage and an essential part of its appeal as a listing destination. As the only common law jurisdiction within China, Hong Kong and its legal system has a proven track record of upholding the rule of law and of maintaining judicial transparency. This framework has long functioned as a guarantee of the fundamental rights of any global enterprise or investor looking to raise or allocate funds as part of a Hong Kong-based listing initiative.

In addition, Hong Kong’s stock market has long been renowned for its maturity, vibrancy and global connectivity, while its sizeable market capitalisation consistently sees it rank among the top 10 largest stock markets on a global basis. As to its diverse investor pool, according to the Securities and Futures Commission, overseas and Mainland China investors accounted for 64% of the asset and wealth management businesses in Hong Kong in 2022, with the majority of overseas investors coming from North America (23%), Australia, New Zealand and elsewhere in the Asia Pacific region (14%), all of which instilled substantial liquidity in the local equity market.

As to how Hong Kong can optimise its role as a premium listing hub for Middle East companies, the research emphasised the importance of strengthening and sustaining its connectivity with many Middle East countries, especially at the government and regulatory level.

Overall, building closer G2G relationships with many Middle East economies was seen as of paramount importance, with the countries’ respective governments seen as playing a significant role in steering the relevant business sectors. It was also recommended that a higher level of market promotion and investment education be undertaken with regard to many Middle East prospects as a means of nurturing and directing their interest in Hong Kong’s financial services resources.

^ The first research report focuses on the overall overseas listing regime of Hong Kong as well as Hong Kong as a listing destination for UAE companies, while the subsequent report on KSA companies listing in Hong Kong will be released in the first quarter of 2024.

[1] HKTDC and CCB International released a research report on “Hong Kong: The Most Popular Overseas Listing Venue for ASEAN Companies” on 27 May 2022.

Photo download: https://bit.ly/41r9Q2a

“Hong Kong’s substantial investor pool has unrivalled understanding of both the pan-Asia and China-specific opportunities now emerging, guaranteeing a level of insight that will be invaluable to any ambitious Middle East business.” Irina Fan, Director of HKTDC Research

“Listing in Hong Kong provides Middle East companies with a range of benefits, including access to a deep pool of capital, a world-class regulatory framework, a vibrant and dynamic business environment, and a gateway to the vast Chinese market. This makes Hong Kong an ideal destination for Middle East enterprises seeking to expand their global reach and access new opportunities.” Michelle Pan, Head of Corporate Finance & Capital Market Services, CCB International

Hong Kong is an ideal overseas listing destination for Middle East companies, according to a research report by the Hong Kong Trade Development Council (HKTDC) in collaboration with CCB International

References
HKTDC Research Portal: https://research.hktdc.com/en
“Hong Kong: An Ideal Overseas Listing Venue for Middle East Companies”: https://bit.ly/3RJWo6c

Media Enquiries
HKTDC’s Communications & Public Affairs Department:
Frankie Leung, Tel: (852) 2584 4298, Email: frankie.cy.leung@hktdc.org
Clayton Lauw, Tel: (852) 2584 4472, Email: clayton.y.lauw@hktdc.org

CCB International’s Corporate Finance & Capital Market Services:
Sam Siu, Tel: (852) 3911 8926, Email: samsiu@ccbintl.com

About HKTDC

About CCB International

CCB International (Holdings) Limited and its subsidiaries (collectively “CCB International”) is a financial and investment services company owned by China Construction Bank Corporation (“CCB”). CCB International is committed to expanding its international platform. Backed by the CCB global network, its business covers key financial centres worldwide including Mainland China, Hong Kong, Singapore and London. CCB International offers a full range of products and services including sponsoring and underwriting, financial advisory, corporate mergers and acquisitions, restructuring, additional issuance and placement of shares, refinancing for listed companies, direct investment, asset management, securities brokerage, market research, investment consultancy and commodities business. The corporate finance and capital market services of CCB International have assisted hundreds of companies in raising over HK$5 trillion from the global capital market. For more information, please visit: https://www.ccbintl.com.hk/English/company.html

Disclaimer: The information contained herein merely reflects the author’s own beliefs about the country concerned and the relevant economic situation. This information does not constitute or form part of any offer, solicitation or invitation to subscribe or purchase any securities. CCB International and the HKTDC do not guarantee, represent and warrant that all or any part of this information is reliable, accurate or complete.

If this document has been distributed by electronic transmission, then such transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. CCB International and the HKTDC, therefore, do not accept liability for any errors or omissions in the contents of this document, which may arise as a result of electronic transmission.