Shougang Century Announces 2020 Annual Results

HONG KONG, Mar 22, 2021 – (ACN Newswire) – Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce its audited annual results for the year ended 31 December 2020.

During the year under review, the pandemic outbreak caused a halt to manufacturing industries in a number of countries, dealing a heavy blow to the global economy. Fortunately, the Chinese government responded to the pandemic quickly after the outbreak with a series of effective and targeted measures, which underpinned the satisfactory progress in work resumption and production acceleration. On the other hand, the rampant pandemic has not been controlled in the overseas and dragged on manufacturing sectors across other countries, resulting in a shortage of tyres and related products. In view of this, the Group decisively seized the market opportunities by exploring new customers, while optimizing its sales mix to flexibly meet customers' requirements. Meanwhile, in order to actively cater for the market demand, the Group adopted a multi-pronged approach to expand production capacity in order to boost both the supply and its core competitiveness.

Leveraging the Group's strict and effective cost control, gross profit margin from continuing operations increased from 17.6% in 2019 to 19.3%, whilst gross profit from continuing operations increased by 4.3% to HK$394,322,000. With the reduction of finance costs, the Group's profit before income tax and profit for the year increased by 26.0% and 36.8% to HK$145,911,000 and HK$148,254,000, respectively. The board of directors recommended the payment of a final dividend of HK1.5 cents per share for the year ended 31 December 2020 (2019: HK1 cent per share), the dividend distribution increased by 50%.

Located in Zhejiang Province and Shandong Province, the Group's two large production bases produce approximately 200,000 tonnes of steel cords in total every year. To cope with the increasing demand for tyres in China and abroad fuels a robust market demand for steel cords, the Group expanded its production capacity through further optimizing its plant construction. In 2019, the Group kicked off an expansion plan in its Tengzhou factory and invested in new brass wire production facilities to add an additional 100,000 tonnes of steel cord production capacity. Spurred by the solid construction progress, the Group has continued to make great strides towards its goal to become an enterprise commanding an annual manufacturing capacity in excess of 300,000 tonnes of high-quality steel cords.

Mr. SU Fanrong, Chairman and Managing Director of Shougang Century said "Looking forward, the growing demand for domestic large vehicles' tyres, coupled with the growing needs for steel cords driven by the Chinese government's 'domestic circulation' policy and energy conservation and emission reduction requirement, will benefit the development of the domestic steel cord industry. As the photovoltaic, sapphire and magnetic material markets gradually improve, the domestic sawing wire market has witnessed a steady growth. We are fully confident with the Group's business, and will continuously strive to achieve our target in becoming one of the top three independent manufacturers of steel cord industry in China."

About Shougang Concord Century Holdings Limited
Shougang Concord Century Holdings Limited (0103.HK) is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. The Group possesses two large production bases in Zhejiang Province and Shandong Province, together producing approximately 200,000 tonnes of steel cords annually. Having been delivering products of a consistently premium quality over the years, the Group supplies products to over 20 countries worldwide and has won wide recognition from international tyres manufacturers. Listed on The Stock Exchange of Hong Kong since April 1992, the Group has a strong shareholder base with substantial shareholders including Shougang Group Co., Ltd. (a state-owned enterprise under the direct supervision of the Beijing State-owned Assets Supervision and Administration Commission), a Fortune 500 company, and its controlled corporations, Bekaert Group and Li Ka Shing Foundation Limited. Through its longstanding dedication to purveying premium quality steel cords and wire products, the Group aims to become one of the top three independent manufacturers of steel cord industry in China.

For more information, please visit: http://www.shougangcentury.com.hk

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Trintech Continues to Innovate Its Leading Financial Solutions to Meet the Needs of Large Enterprises Across the Globe

Dallas, TX, Mar 19, 2021 – (ACN Newswire) – Trintech, a leading global provider of integrated Record to Report software solutions for the office of finance, today announced several key product enhancements to help large enterprises reduce the time spent on tasks and drive greater efficiencies in their month-end workflows.

"As our customers continue to focus on agility and sustainability during this time, the enhancements we have made in our solutions deliver greater control, enhanced visibility, increased efficiencies and certainty of accurate financial reporting that our large enterprise customers demand," said Michael Ross, Chief Product Officer at Trintech.

With the latest release of Trintech's Cadency Platform, finance and accounting professionals can elevate their financial automation with highly configurable and transparent workflows, integrated connector enhancements, and extended scalability and automation with new Smart Bots and ERP Bot enhancements. Leading Enterprises will benefit from the following:

– Greater efficiencies gained in the reconciliation process
– Additional automation capabilities to reduce the time to close
– Enhanced integration between Record to Report (R2R) processes to improve the overall experience
– Enhanced Bot functionality that drives deep automation and reduces administration burdens to refocus time and effort on higher value-added activities

In addition, the Cadency user experience provides intuitive, easy-to-use, standardized functionality that drives greater efficiencies throughout the finance and accounting team's daily workflow.

Managing and performing transaction matching and account reconciliations are a cornerstone of the month-end close, and when done inefficiently, can be a very time-consuming and risk prone process. To help finance & accounting teams further reduce the time and risk in this process, Trintech has extended the automation capabilities between Cadency Match and Reconciliation Certify by leveraging leading technologies, such as Risk Intelligent RPA(TM) to reduce the number of accounts needing manual reconciliation, reduce the workload for end users and administrators and allow for a faster and more efficient month-end close.

In addition, Trintech has introduced Cadency Smart Bots so finance & accounting teams can benefit from purpose-built Bot capabilities that allow not only automation of repetitive manual tasks but also complete Record to Report (R2R) activities including the ability to:

– Prepare account reconciliations using files or data from external data repositories or email inboxes and attaching any supporting documents leveraging Cadency Reconciliation Certify
– Post Journals using data or files from external data repositories or email inboxes, along with any necessary back-up documentation leveraging Cadency Journal Entry
– Close tasks corresponding to Journal Entry postings, Account Reconciliations, etc. directly in Cadency Close.

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech's portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kristina Pereira Tully
Vested
650-464-0080
trintech@fullyvested.com

SOURCE: Trintech, Inc.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CITIC Telecom CPC Launches SmartCLOUD Object Storage Solution Based on Cloudian Object Storage Platform

HONG KONG AND SAN MATEO, Calif., Mar 18, 2021 – (ACN Newswire) – CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly owned subsidiary of CITIC Telecom International Holdings Limited (SEHK:1883), and Cloudian today announced that CITIC Telecom CPC is introducing SmartCLOUD(TM) Object Storage solution based on Cloudian's HyperStore object storage platform. The offering, which will be part of CITIC Telecom CPC's SmartCLOUD(TM) solutions portfolio, includes backup with ransomware protection, archiving and big data management. As a VMware Cloud Provider Principal Partner with VMware Cloud Verified status, CITIC Telecom CPC's SmartCLOUD(TM) Object Storage solution further extends the array of service offerings running on a VMware-managed environment. CITIC Telecom CPC's customers will also benefit from Cloudian's limitlessly scalability, industry-leading security and cost effectiveness.

Enterprises face a growing challenge of efficiently storing and managing large volumes of unstructured data, including video and other multimedia content. At the same time, as data has become an increasingly strategic asset, it is also increasingly vulnerable to ransomware and other cyber attacks. As a result, CITIC Telecom CPC turned to Cloudian – via the VMware Cloud Provider Program – to provide a robust, modern storage foundation that would enable the company to continue delivering value-added services that address its customers' evolving data protection and management needs, including meeting various regulatory and compliance requirements.

CITIC Telecom CPC's SmartCLOUD(TM) Object Storage solution includes:

Ultra-secure data protection
– Offsite data backup with Object Lock for ransomware protection that creates an immutable data copy for fast, easy recovery of data in the event of an attack.
Data archive for compliance needs
– Addresses customers' regulatory and compliance requirements, including audits, with the ability to make data unchangeable for a set period of time.
Seamless accessibility
– Customers gain multi-cloud accessibility to datasets running on S3-based applications for greater convenience with lower overhead.
Scalable big data management
– Provides highly scalable, cost-effective storage for large datasets, with advanced metadata that facilitates artificial intelligence, machine learning and other analytics applications.

Great variety of connectivity options
– Supports connection with Internet, VPN (such as MPLS), point-to-point leased line and cross-connection within the same datacenter and SmartCLOUD(TM) Cloud Services Centers.
Simple billing model
– Basically only includes storage and data transfer out; API call for data access is free of charge.

In addition to limitless scalability, benefits of Cloudian's award-winning HyperStore object storage include:

Fully native S3 compatibility
– Ensures seamless integration with the expanding ecosystem of S3-based applications.
Advanced security
– Including Object Lock-based data immutability, secure shell, RBAC/IAM access controls, AES-256 server-side encryption for data at rest and SSL for data in transit, as well as certification with the most rigorous international security requirements.
Multi-tenancy
– Supports for secure, self-managed storage within a shared platform.
Geo-distribution
– Easy to manage storage across multiple locations, all from a single pane of glass.

"After considering various object storage solutions, we selected Cloudian for its rich feature set-particularly its geo-distribution, multi-tenancy and security-and its seamless integration with VMware," said Taylor Lam, Senior Vice President, Product Development & Management at CITIC Telecom CPC. "With the rising regulatory and compliance stringency on data management, we're excited about the new SmartCLOUD(TM) Object Storage solution for delivering a cost-effective storage service with enhanced data protection and management to our customers."

"CITIC Telecom CPC has been at the forefront in enabling enterprises to leverage new technologies to drive greater competitive advantage, strategic agility, and faster time to market," said Brian Burns, Vice President, Asia Pacific, at Cloudian. "We look forward to helping CITIC Telecom CPC continue to deliver on this strong customer commitment and further grow its business."

About CITIC Telecom CPC

We are CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serving multinational enterprises the world over by addressing their specific ICT requirements with highly scalable tailored solutions built upon our flagship technology suites, comprising TrueCONNECT(TM) private network solutions, TrustCSI(TM) information security solutions, DataHOUSE(TM) cloud data center solutions, and SmartCLOUD(TM) cloud computing solutions.

As a leading Global Local ICT Solutions Partner with worldwide footprint across East to West and native presence, we truly live our motto, "Innovation Never Stops." Being a preferred Digital Society Enabler, we lead our key markets at the forefront of pioneering ICT development, embracing AI, AR, Big Data, IoT, and other cutting-edge emerging technologies to transform technical potential into real-world value for our customers, helping them achieve higher productivity, agility, cost-efficiency, and ultimately, Digital Globalization.

As one of the first managed service providers in Hong Kong to achieve ISO 9001, 14001, 20000, 27001, and 27017 ICT-related certifications, CITIC Telecom CPC delivers on our superior quality commitment through a broad global self-managed infrastructure encompassing some of the highest growth markets in Asia, Europe and Africa, with over 160 points of presence, 18 Cloud service centers, 30+ data centers, and two dedicated 24×7 Security Operations Centers.

For more information please visit www.citictel-cpc.com.

About Cloudian

Cloudian is the most widely deployed independent provider of object storage systems, with the industry's most advanced S3 compatibility and an extensive partnership ecosystem. Its award-winning flagship solution, HyperStore, provides limitless scalability and cloud-like technology, flexibility, and economics in the data center. Cloudian's global data fabric architecture enables enterprises to store, find and protect object and file data seamlessly across sites, both on-premises and in public clouds, within a single, unified platform. Learn more at cloudian.com.

CITIC Telecom CPC Media Contact
Rowena Leung
CITIC Telecom International CPC Limited
rowena.leung@citictel-cpc.com
+852-2170-7536

Cloudian Media Contact
Jordan Tewell
10Fold Communications
cloudian@10fold.com
+1-415-666-6066

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HKC Announces 2020 Annual Results, Net Profit drops 36% to HK$241.6 Million

HONG KONG, Mar 18, 2021 – (ACN Newswire) – HKC (Holdings) Limited ("HKC" or the "Company"; stock code: 190) has announced the consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2020 ("Period Under Review").

Financial Review
During the Period Under Review, turnover amounted to HK$1,184.0 million (2019: HK$1,036.9 million), and gross profit amounted to HK$662.2 million (2019:HK$682.4 million). Due to reduced higher-margin leasing revenues, gross profit margins dropped to 56% from 66% in 2019. The Group was also negatively impacted by a HK$98.4 million revaluation loss on its investment properties. This marks a reversal of the HK$91.9 million in gains recorded for 2019. As a result, net profit declined 36% to HK$241.6 million. Basic earnings per share amounted to HK39.5 cents, while basic earnings per share for the same period in 2019 were HK52.8 cents.

Business Review
As regards residential projects, contracted sales were extremely sluggish during the first quarter of the year because of the impact of COVID-19, with sales offices closed and as local governments encouraged people to stay home. As COVID-19 infections were contained, GDP resumed its growth and with the support measures taken by the government, market conditions for residential properties started improving in the second quarter. In the second half of the year, contracted sales reached RMB320.2 million, an increase of 82% compared to the level in the first half of the year, although still 5% lower compared to the same period in 2019.

However, leasing revenues from commercial projects did not show much improvement. Revenues from property leasing declined as the COVID-19 epidemic resulted in reduced demand for office and retail properties. Demand for office properties dropped amid reduced business activity, the government's encouragement of office workers to work from home, and oversupply of office properties. In addition, the government's discouragement of people from leaving their homes and from attending group gatherings reduced foot traffic in retail malls. As a result, instead of an expected increase in leasing revenues following the Group's recent completion of two major office buildings, leasing revenues during the year declined 7% to HK$333.4 million.

Prospects
The continuing impact of COVID-19 around the world, resulting in negative worldwide growth and recession, as well as trade tensions with the United States, will continue to adversely impact the Chinese economy and the property markets. The PRC government's recent policies to control property prices and to reduce risks in the property industry by limiting leverage will continue to have an adverse impact on the industry.

However, the economy is expected to continue improving in 2021, the Group expects moderate growth for residential sales. With regard to existing residential properties, the Group will continue focusing on sales of its residential properties in Tianjin and Shenyang. COVID-19, the reduced demand for office and retail space and the oversupply of commercial property in Shanghai will continue to put pressure on the Group's projects including Shanghai Landmark Center and Sinar Mas Plaza. There are signs of improvement at Group's investment properties in Shenzhen. In Nanxun, the Group is progressing on developing the expansion of its Nanxun furniture and trading material trading center.

For CRE, it will benefit from the full year operation of Songxian which was completed in May.

On 12 January 2021, the Company received a privatisation proposal offered by Genesis Ventures Limited by way of a scheme of arrangement. The procedures are underway and are expected to be completed in the first half of 2021.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Sheng Tai International Partners with IWG to open flexible workspace in Malaysia

MELAKA, Mar 18, 2021 – (ACN Newswire) – Award-winning property company, Sheng Tai International Sdn Bhd (Sheng Tai International), continues to catalyse Malaysia's, particularly Melaka, economic growth by signing a landmark agreement with the world's largest global workspace provider, International Workplace Group plc (IWG) with brands including Regus and Spaces.

The franchise agreement includes Sheng Tai International and IWG collaborating to open flexible workspace in Malaysia. With the agreement, Sheng Tai International becomes IWG's first partner since it opened up franchise opportunities in 2019 in the country.

Sheng Tai International has invested approximately RM8 million to begin this partnership with three centres in the company's commercial properties in Melaka. The first centre, which will be developed under Regus, will open in Metrasquare, Melaka, by the end of the second quarter (Q2) 2021. While the second centre, under Spaces, will open at The Sail in 2025.

Tuan Yang Terutama Tun Seri Setia Dr Hj Mohd Ali Bin Mohd Rustam, Yang di-Pertua Negeri Melaka, was present to witness the signing ceremony. Representing Sheng Tai International in the signing event and exchange of documents was Dato' Leong Sir Ley, Founder and Chairman of Sheng Tai International and Collin Tan, Director. While IWG was represented by Vijayakumar Tangarasan, Country Head for Malaysia, Indonesia and Brunei as well as Premita Dhaliwal, Head of Partnership Growth – Malaysia.

Dato' Leong Sir Ley, Founder and Chairman of Sheng Tai International, said, "We are delighted to work with IWG to expand Malaysia's flexible workspace industry."

"We believe this is the right time to invest in the flexible workspace industry in Malaysia, especially in Melaka, in line with the optimistic outlook post-COVID-19 for the state and country. The pandemic has provided Melaka as well as flexible workspace industry an additional edge."

"More and more people and global brands are looking at strategic locations that are beyond the city centre. In addition, the pandemic has accelerated the growth of flexible workspace trends around the world."

"With our unique establishments in Malaysia coupled with IWG's modern and world-class amenities, we are poised to appeal to discerning entrepreneurs, SMEs and multinational corporations, re-energising the economy in and around Melaka," added Dato' Leong.

"We also look forward to opening more flexible workspaces throughout Malaysia in the next five years."

Gareth Haver, Regional Chief Executive Officer of IWG, said, "When we decided to open up franchising opportunities, we knew we needed strong partners, but more importantly, people who share our vision and values."

"So we are thrilled to open a new chapter with Sheng Tai International. They have ambition and a solid track record that goes beyond the property. I believe their ability to draw global brands here during the pandemic is a testament to this," Premita Dhaliwal from IWG Malaysia added.

Melaka Trade Square (Metrasquare) is a 6-acre commercial development comprising a residential component called the Metrasquare Serviced Suites, a three-star premium hotel called Hotel Metrasquare, a five-star hotel called Ames Hotel as well as retail lots, meeting and conference facilities, F&B amenities, as well as an upcoming Melaka historical gallery and art social space.

Located just five minutes drive away from the Ayer Keroh toll off the North-South Expressway, Metrasquare is also close to the Melaka International Trade Centre (MITC), government offices, hypermarkets and a host of tourist attractions such as Melaka Zoo and Night Safari; Melaka Bird Park; Wonderland Theme Park; Melaka Planetarium, World's Bees Museum and Melaka International Trade Centre.

Flexible workspaces are due to grow exponentially in Malaysia as companies of all sizes adopt progressive hybrid work patterns. Businesses have realised that a hybrid model not only means happier and more engaged employees, but also a significant saving for the bottom line. A study reported by EY shows that companies can save about $11,000 for each employee that works in a hybrid manner.

Earlier this month, IWG announced a record start to 2021, adding half a million users to its network so far this year as well as penning its largest ever deal with NTT, Nippon Telegraph and Telephone Corporation. The deal will provide NTT's 300,000 employees across its portfolio of companies and global network with access to IWG's more than 3,500 workspaces globally.

For more information about Regus in Melaka, kindly contact Sheng Tai International at +6011 3737 3399.

About Sheng Tai International Sdn Bhd

Sheng Tai International Sdn. Bhd., formerly known as Sheng Tai Realty Sdn Bhd., is a diversified property development, real estate, investment management and hospitality company with specialised expertise in the area of property tourism. The company was founded by Dato' Leong Sir Ley ("Dato SL Leong"), one of Malaysia's very first businesswomen who single-handedly venture out of the country by setting up a significant network of real estate investment platform overseas. The company offers various categories of quality investment grade products with professional services and a warm, humanistic attitude. We welcome productive collaboration and corporate partnerships with the focal point of providing our foreign and local guests with comprehensive solutions and tailored experience.

Established in 2012 amid the storm of global economic turbulence, our continuing success owes to our ability to swim against the tide and see opportunity in every challenge. Our commitment to growth and quality excellence is an approach that has changed little since our emergence as a budding enterprise.

Locally, Sheng Tai International Sdn. Bhd. is well known in the industry through its subsidiaries such as Plentifield Marketing Sdn. Bhd., and Sheng Tai Impression Sdn. Bhd. At the international front, our presence is currently marked through our overseas arm called Sheng Tai International (HK) Limited, which has been operating since 2012 and served as an important gateway to the Hong Kong and Chinese markets. The company also recently opened its China's flagship branch in Shanghai in September 2019; Tokyo in May 2020 and Beijing in October 2020.

Today, Sheng Tai International is an award-winning developer who has branched out across various parts of Asia, offering an extensive range of real property products, services and brands that cater to the luxury, upscale, and economy markets.

Sheng Tai International now has more than 500 personnel who are highly passionate and energetic, ensuring top quality services to our customers. The team is driven by strong corporate values that emphasise on integrity, professionalism and trustworthiness. Continuing our ethos of passionate expansion and conscientious innovation, Sheng Tai International aims to set a benchmark as the curator of contemporary living and the leading influence in inventive real estate business models. For more information about Sheng Tai International, please visit http://shengtaiinternational.com.

About IWG Plc

IWG is the world's largest provider of flexible workspaces and has remained at the forefront of enabling and providing flexible workspaces. It offers a wide variety of flexible office options around the world, including Regus, Spaces, HQ, and Signature. IWG helps millions of people and their businesses to work more productively by providing a choice of professional, inspiring and collaborative workspaces, communities and services. IWG operates in over 1,100 towns and cities in more than 120 countries. For more information about becoming an IWG franchise partner visit: https://franchise.iwgplc.com

This press release is issued on behalf of: Sheng Tai International Sdn Bhd

For further enquiries, please contact:
I-Mae Liew
Tel: +6012 383 5688

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Trintech Integrates Automated Financial Close Solution to Microsoft Dynamics 365 Finance

Dallas, TX, Mar 17, 2021 – (ACN Newswire) – Trintech, a leading global provider of integrated Record to Report software solutions for the Office of Finance, today announced its automated financial close solution is integrated with Microsoft Dynamics 365 Finance. The integrated solution is now available in Microsoft AppSource to provide greater control and insight for Dynamics 365 Finance customers.

"With Adra's unified and seamless integration with Microsoft Dynamics 365, finance and accounting departments can automate key parts of their financial close process that would otherwise require human intervention," said Darren Heffernan, President, Mid-Market at Trintech. "This integration combines the power of Microsoft Dynamics 365 Finance with the most comprehensive financial close solution for organizations into one seamless experience that will increase the efficiency and accuracy while simultaneously reduce the cost and risk across your financial close process."

Just a few of the many benefits finance & accounting departments will gain include:
– Visibility across all tasks in the financial close process
– Control and automation of reconciliations
– Shortened close cycle through efficiency gains
– Automated notifications of balance changes throughout the close
– Reduction in write-offs

"Trintech's Adra Suite helps maximize the value of a company's investment in Microsoft Dynamics 365 Finance by delivering greater insights while mitigating risk, reducing errors and improving your overall financial close process," said George Glantschnig, General Manager, Dynamics 365 Finance, Globalization, Project Operations, Human Resources at Microsoft.

Currently deployed by over 1,800 companies across the globe, the Adra Suite provides cloud-based, financial close and reconciliation solutions for companies looking to quickly increase the efficiency, control and visibility for all key areas of the financial close process including: balance sheet reconciliations (Adra Balancer), transaction matching (Adra Matcher), financial task management and controls (Adra Task Manager), and reporting (Adra Analytics).

For more information on this integration, please click here. https://pr.report/A9VsESj0

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech's portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kristina Pereira Tully
Vested
Tel: +1-650-464-0080
trintech@fullyvested.com

SOURCE: Trintech, Inc.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Volcano Berhad Launches Prospectus for IPO

KUALA LUMPUR, Mar 17, 2021 – (ACN Newswire) – Volcano Berhad ("Volcano" or the "Group"), a leading international manufacturer of nameplates and plastic injection moulded parts, has successfully launched its prospectus for the Group's listing on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").

Volcano Berhad's factory in Rayong, Thailand

Volcano's initial public offering ("IPO") involves a public issue of 25.0 million IPO shares and an offer for sale of 35.0 million shares at the issue price of RM0.35 sen per share, made available for application in the following manner:

Public issue:
– 8.25 million new shares will be available for application to the Malaysian public;
– 8.25 million new shares will be allocated for application by eligible directors, key senior management, employees and business associates; and
– 8.50 million new shares will be offered by way of private placement to identified investors.

Offer for sale:
– 14.375 million shares by way of private placement to identified investors; and
– 20.625 million shares by way of private placement to identified bumiputera investors approved by the Ministry of International Trade and Industry.

The IPO is expected to raise gross proceeds of RM8.75 million. From the proceeds, the Group will use RM5.55 million for the purchase of machinery and equipment while RM3.20 million will be used for listing expenses.

Managing Director of Volcano, Datuk Ch'ng Huat Seng, said: "We are one step closer to an important milestone for Volcano since our establishment in 1999. For the co-founders, it is also a significant event in our professional careers to have come this far and we see our prospects supported by a strong and long-term customer portfolio comprising multinational companies from around the world. Our products are also used in end-user markets especially in the electrical and electronics ("E&E") as well as automotive industries."

"The proceeds from the IPO will go towards acquiring laser-cutting and pick-and-paste machines to improve the efficiency and capability of our nameplate manufacturing process. We are going to purchase additional plastic injection moulding machines to expand the plastic injection moulded parts manufacturing business. Besides the purchase of machinery and equipment, we are also going to expand our factory in Rayong, Thailand as we intend to expand our presence in the E&E and automotive industries in the country."

Volcano's principal markets are Singapore and Thailand. Overall, the foreign market accounts for more than 95% of overall revenue in the financial year ended 31 December 2020. Multinational companies (MNCs) comprise 90% of the sales including some leading brand names such as Bernina, Hewlett Packard, Fisher & Paykel Thailand, Donaldson Thailand, Sharp Indonesia and Panasonic Thailand.

Volcano's Principal Adviser, Sole Placement Agent, Sole Underwriter and Sponsor in relation to the IPO is TA Securities Holdings Berhad ("TA Securities"). Pursuant to the underwriting agreement, TA Securities will be underwriting for shares available for application by the Malaysian public.

Datuk Ch'ng said: "Where we are today is also due to the hard work and dedication of the Volcano team. They are experienced and committed with operational expertise and in-depth knowledge of manufacturing of nameplates and plastic injection moulded parts. Our sincere gratitude goes to our customers and suppliers throughout the years that have continued to support our growth and success. We would also like to extend our gratitude to the team at the Securities Commission and Bursa Securities in assisting Volcano throughout the IPO process."

Please contact the below for more information:
Stefani Wan
Tel: +6012 286-1481
Email: s.wan@swanconsultancy.biz

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Shimao Services Announces 2020 Annual Results

HONG KONG, Mar 15, 2021 – (ACN Newswire) – Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX stock code: 873.HK), a leading comprehensive property management and community living services provider in China, today announced the first annual results since its listing. In 2020, Shimao Services recorded operating revenue of RMB5,026 million, representing a year-on-year growth of 101.9%. Profit for the year surged 88.4% amounting to RMB724 million. Profit attributable to the equity holders of the Company stood at RMB693 million, representing a year-on-year growth of 80.2%. The Company has achieved overwhelming results compared with the previous guidelines. The Company's cash and cash equivalents amounted to RMB5.83 billion in 2020, representing an increase of 586.2%. Adhere to the concept of win-win sharing, the Board proposed a final dividend of HK11 cents per share, and total dividend amounted to HKD 260 million, translating to a dividend payout ratio of 31%. During the review year, the Company's GFA under management and various operating indicators expanded rapidly and accomplished speedy development.

(From left to right): Mr. Liu Yu, Assistant President of Shimao Services; Mr. Cai Wen Wei, Executive Director and Chief Financial Officer of Shimao Services; Mr. Jason Hui Sai Tan, Vice Chairman of the Board of Shimao Group and Chairman of the Board of Shimao Services; Mr. Ye Ming Jie, Executive Director and President of Shimao Services; Mr. Feng Bo, Vice President of Shimao Services

Surpass scale of growth with contracted GFA exceeding 200 million sq. m.
As of the end of 2020, the Company's GFA under management was 146.1 million sq.m., representing a year-on-year surge of approximately 114.4%. The Company's contracted GFA was approximately 201.1 million sq.m., representing a year-on-year increase of approximately 99.4%. The contribution of third-parties area has increased to 35% among the GFA under management. In 2020, the Company's newly added area through market expansion reached 23.5 million sq. m., representing an increase of 130% compared to the 2019 level. The success rate of third-parties bidding grew notably from 46% in 2019 to 53.4% in 2020. All of these reflected the Company has achieved remarkable growth in both managed area and management capabilities.

Shimao Services is one of the important wings of Shimao Group's "big aircraft" strategy. Shimao Group, a leading and fast-growing property developer, has brought sufficient reserve projects to Shimao Services. As many as 86.2% of the Group's projects are located in the first- and second-tier cities in China, enabling Shimao Services to enjoy the synergies of the Group's comprehensive urban layout. Shimao Services' projects are mainly located in the most economically developed and fastest-growing regions including Yangtze River Delta, Bohai Economic Rim, Central and Western China as well as Northern China region. As of 2020, the Company's projects cover 137 cities across the country, representing a year-on-year growth of 51%. 77% of its projects are concentrated in the first- and second- tier cities, of which 27% located in five major cities in Fuzhou, Xian, Hangzhou, Wuhan and Tianjin.

The Company's business expansion also serves a wider range of businesses. As of 2020, the Company's GFA under management of non-residential properties, comprised of certain representative businesses such as schools, hospitals and public facilities, reached 59.2 sq. m., accounting for approximately 40.5% of the total GFA under management, up by 36.3 percentage points compared to the 2019 level. While Shimao Services always puts users first and quality as the core, its customer satisfaction level grew simultaneously to 89, outperforming the industry average by 13%. The collection rate remained high at 95% for three consecutive years, and the contract renewal rate is nearly 100%. All business indicators remained strong with stable and healthy operational foundation.

Strong synergies among three core business segments to support high quality growth effectively
In 2020, the Company' property management services achieved revenue of RMB 2.7 billion, a 126.1% year-on-year surge that accounted for 54.0% of total revenue. Revenue of the community value-added services segment was up 146.8% year-on-year to RMB1.6 billion. Value-added services to non-property owners. realized revenue of RMB 713 million, posted an increase of 11.2% year-on-year.

It is worth noting that the community value-added services which has improved significantly in particular, with revenue contribution amounted to 31.8%, representing a growth of 5.7 percentage points when compared to the 2019 level. It has also recorded a higher gross profit margin for the Company, reaching 40.1%. Beforehand, as the Company entered campus services, it added a more diversified campus value-added services to its businesses, including campus life service supporting services, catering services, etc. Despite the impact brought about by COVID-19 and only half a year of schooling, campus value-added services recorded revenue of RMB 230 million.

Additionally, the technology company under Shimao Services recorded revenue of RMB 450 million in 2020, a surge of 775.6% year-on-year and becoming a new pillar of the community value-added service business. By breaking industry boundaries and through external development, the Company has successfully became the professional service provider of multiple enterprises and institutions such as Fudan University and Chongqing District Government and also the strategic supplier of China Mobile, Tencent Cloud and CRCEG, marking a significant breakthrough.

Clear strategy in scale development with strong management and operations to achieve "1+1>2"
Scale development is one of the significant means for the rapid development of corporations. As of 2020, Shimao Services has successfully established cooperation with 12 property companies. With the "value investment" philosophies, Shimao Services has set up its short and long term investment strategies. By selecting the regional leading companies, such as Hailiang Property, and segment leaders, such as Zheda Sinew, and others, to achieve rapid growth in scale and increase project density and business concentration. In the medium and long term, it will develop solid foundation for value-added service and foster leaders in niche markets to establish the Company's market presence and optimizing the ecosystem of urban services with the new growth driver.

Besides, Shimao Services continued to seek for a win-win cooperation, resulting in "1+1>2". Armed with its M&As "integration" system, Shimao Services has become one of the leader in the industry through continuous practice and testing in recent years. Shimao Services has built a complete "integration" system, from precise pre-investment evaluation to integrated and enhanced post-investment management. The Company is the only one which conducts post-investment management at the initial stage, conducting business due diligence and preparing integration plans in advance.

Taking it as reference, in 2019, Shimao Services has incorporated Hailiang Property and Sanyuan Property to its integrated management and operation, the net profit margins rose by an average rate of 4.2% and net profit reached an average of 16.9% afterward. In 2020, the net profit margins of Guangzhou Yuetai, Chengdu Xinyi, Citichamp property and Zheda Sinew rose by an average rate of 2.6% while the net profit reached an average of 8.3%. As a result, the higher the degree of integration with the management system of Shimao Services, the more obvious the performance improvement will be. Besides, the collection rate of 12 companies improved by 12.1 percentage points and the revenue of its community value-added services increased 2.5 fold.

Carry out a new "Three-year Strategy"
During the results presentation, the Company mentioned the new "Three-year Strategy" after its listing. In the upcoming three years, the Company will establish a "1+1+X" business system covering basic property management services, value-added services and smart city services. By implementing its strategy to deepen development in key cities, its strategy on user-centric and product improvement, its strategy on supply chain integration and cost management, its strategy on delicacy management enhancement and finally its strategy on establishing an innovative talent system, the Company will further consolidate its five core competencies. With the aim to become "the ideal partner for promoting quality urban development", Shimao Services will provide the tri-positioning of "city service bulter", "city asset operation assistant" and "city development cooperative partner" to its service, and cultivate the further growth drivers. Currently, the Company has signed a number of strategic framework agreements with Sucheng District of Suqian City, Yongtai County of Fuzhou City and Huadian City of Jilin Province, hence to build benchmark projects, and embark on replication in multiple regions in the long-run.

Looking ahead, the Company is committed to accomplishing as a city life service provider offering quality services focusing on "users" and "assets", with a strategic goal to become one of the leaders in property management sector by 2023.

Mr. Hui Sai Tan, Vice Chairman of the Board of Shimao Group and Chairman of the Board of Shimao Services, said, "Shimao Services is one of the important wings of Shimao Group's "big aircraft" strategy. In the past three years, it has achieved speedy growth of five folds and carried out a new 'three-year strategy'. Shimao Group has full confidence in Shimao Services and will continue to bring quality resources including local government, business partners, and industries to the Company, thus to vigorously promote and support the development of Shimao Sevices in the next three years."

About Shimao Services Holdings Limited (Stock code: 873)
Established in 2005, Shimao Services is China's leading provider of integrated property management and community life services. It is also one of the important wings of Shimao Group's "big aircraft" strategy. Shimao Services takes the "Smart Maker of Good Life" as its brand concept and implements the "iBlue Strategy", focusing on the four core high-energy city clusters in the Yangtze River Delta Region, Central and Western China, Southern China and Bohai Economic Rim. As of December 2020, the company had more than 530 properties under management, 210 million square meters of contract area, covering residential, schools, government and public facilities, health care centers and hospitals, VIP lounges in waiting rooms, etc, and provided comprehensive property management, community life services and non-owner value-added services for nearly 2.4 million owners and users.

For more information, please visit Shimao Services' website: https://www.shimaofuwu.com/

For further information, please contact:
Strategic Financial Relations Limited
Maggie Au / Stephanie Liu / Adrianna Lau
Tel: (852) 2864 4815 / (852) 2864 4852 / (852) 2114 4987
Email:sprg_shimao@sprg.com.hk
Fax: (852) 2527 1196

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Alvotech Completes Second Round of a US$100 Million Private Placement

HONG KONG, Mar 15, 2021 – (ACN Newswire) – Multinational biopharmaceutical company Alvotech has successfully completed a second round of its US$100 million private placement, for US$35 million. The first round which was completed in October 2020, amounted to US$65 million. As part of the first round, Shinhan from Korea, Baxter Healthcare SA from the US and ATHOS (Strungmann Family Office) from Germany invested in Alvotech.

In the course of the second round, Alvotech is pleased to announce additional interest from a wider range of investors, including within Iceland and internationally.

Robert Wessman, Chairman of Alvotech, said: "We are very pleased to have secured this private placement, as we embark on the exciting phase in our evolution from a developer, to becoming a manufacturer and supplier of biosimilar medicines and we look forward to bringing our first products to market.

"We have signed partnership deals with leading biosimilar players in all the largest pharmaceutical markets in the world, enabling us to expand access to high quality biologics to patients worldwide.

"I am particularly delighted in the confidence of first time investors in the company, including those from my native Iceland where the heart of the Alvotech operation is based."

About Alvotech
Alvotech is a multinational biopharmaceutical company focused on the development and manufacturing of high quality biosimilars for global markets. We are specialists in biotechnology, seeking to be a global leader in the biosimilar space by delivering high quality, cost-competitive products and services to our partners and to patients worldwide. Our fully integrated approach, with high-quality in-house competencies throughout the value chain, enables the accelerated development of biosimilar products. Alvotech's shareholder base includes, among others, Aztiq Pharma, led by founder and Chairman Mr. Robert Wessman, Fuji Pharma from Japan, YAS Holdings form Abu Dhabi, Shinhan from Korea, Baxter Healthcare SA from the US, ATHOS (Strungmann Family Office) from Germany and CVC Capital Partners and Temasek from Singapore through their participation in Alvogen.

Alvotech's initial pipeline contains several monoclonal-antibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions to improve quality of life for patients around the world. For more information, please visit our website, www.alvotech.com or follow us on LinkedIn, Twitter and Facebook.

For Media and Investor Enquiries:
Strategic Financial Relations Limited
Angelus Lau Tel: (852) 2864 4805 Email: angelus.lau@sprg.com.hk
Beverly Chiu Tel: (852) 2114 4329 Email: beverly.chiu@sprg.com.hk
Carrie Leung Tel: (852) 2114 4912 Email: carrie.leung@sprg.com.hk

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Inaugural Forum on Pesticide Application Drone use in Asia brings together Regional Policymakers and Global Experts

SINGAPORE, Mar 11, 2021 – (ACN Newswire) – A first-of-its-kind virtual conference on drone use for pesticide application in Asia concluded this week after three days of dialogue and discussion among stakeholders from across the food supply chain. The event focused on perspectives ranging from those of regional governments, manufacturers as well as commercial adopters, and experts in the field forecasting future innovations.

"Our industry takes seriously its commitment to ensure responsible use of plant science technologies and sustainable agricultural practices. Drones are a new tool that can support and strengthen that effort – and have the potential to play a transformative role in Asian agriculture," said Mr. Gustavo Palerosi-Carnerio, CropLife Asia President.

"As with any innovation, the most critical components are the best practices that reflect responsible use and the policies that underpin them. Through this week's conference, we've heard vital insights from agricultural drone use experts in these areas and what the future may hold. We look forward to continuing these constructive conversations, and working with regulators and other key stakeholders across the food supply chain to help deliver drone use for pesticide application in Asia that is conducted responsibly."

Drones or unmanned aerial vehicles (UAVs) are increasingly being used by large and small-scale farmers globally. This includes use for mapping, crop surveillance and scouting, pesticide application, and monitoring both irrigation as well as grazing livestock. According to a recent Industry ARC report, "Agricultural Drones Market – Forecast (2021-2026)", the market for agricultural drones is projected to reach more than $5.8 billion by 2026.

In Asia, the use of drones for pesticide application is rapidly growing in popularity due to the advantages it provides, namely: efficiency with use of inputs; enhanced spray precision; reduced water consumption; and less dependence on labor, resulting in lower associated costs.

"As food and agricultural stakeholders, we all have a duty to ensure our region's farmers are enabled and empowered to grow the nutritious crops on which we depend – and help deliver a food supply for Asia that is safe, secure and sustainable," commented Dr. Siang Hee Tan, CropLife Asia Executive Director.

"When used responsibly, drone technology can be a game-changer for Asia's smallholder farmers. However, it's critical that the growth in agricultural drone use in our region is matched by an expansion of sound and science-based regulations to support their responsible use. By bringing together a broad array of government and private sector stakeholders, this week's forum was a substantial step forward on that front."

Asia is home to the smallest-sized farms and the largest number of smallholder farmers in the world. It's estimated that 85% of the world's 525 million smallholder farmers live and work within our continent. These growers face unique challenges in comparison with larger commercial farmers – landholder rights, access to finance, labor shortages, and availability of technology among them. With COVID-19 having an exacerbating effect on many of these and other obstacles Asia's smallholders face, drone use with pesticide application has the potential to benefit these growers by helping drive production and sustainability at the same time.

CropLife Asia's Drone for Pesticide Application Online Forum was conducted 8-10 March and brought together virtually technology experts and sector stakeholders from across Asia and around the globe. The three-day conference was structured to convey and grow: common understanding of drone benefits to sustainability as well as farmers' safety and productivity; strong cross-sector partnership between government and industry; and an open exchange of knowledge and best practices to manage risks and concerns.

A total of seven sessions were conducted during the forum to guide the discussion on a range of topics. From the "government" perspective, this included sessions on: Digital transformation and its impact on government agricultural policies; Regulatory frameworks for pesticide application by drone around Asia Pacific; and Safety Standard Operating Procedure (SOP) for pesticide application by drone. Sessions focusing on the "field" perspective included: R&D – Technology enablers for pesticide application by drone; and Commercial adoption of drone for pesticide application in APAC. Lastly, capturing the "future" perspective were sessions on: Emerging technological advancements in drone for pesticide application; and Roundtable – Future collaborations to drive best practices in the region.

For additional details regarding the Forum, including a full roster of moderators and panelists who participated, please consult the Events section of the CropLife Asia website, www.croplifeasia.org.

About CropLife Asia

CropLife Asia is a non-profit society and the regional organization of CropLife International, the voice of the global plant science industry. We advocate a safe, secure food supply, and our vision is food security enabled by innovative agriculture. CropLife Asia supports the work of 15 member associations across the continent and is led by six member companies at the forefront of crop protection, seeds and/or biotechnology research and development. For more information, visit us at www.croplifeasia.org.

For more information please contact:
Duke Hipp
Director, Public Affairs & Strategic Partnerships
CropLife Asia
duke.hipp@croplifeasia.org

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