Main Market-Bound Seng Fong Holdings Berhad IPO Shares Oversubscribed by 3.09 Times

KUALA LUMPUR, Jun 29, 2022 – (ACN Newswire) – Tricor Investor & Issuing House Services Sdn Bhd (TIIH) is pleased to announce that the Initial Public Offering (IPO) of Seng Fong Holdings Berhad is oversubscribed by 3.09 times.


Managing Director of Seng Fong, Mr. Er Hock Lai

Group Managing Director/ Chief Executive Officer of Hong Leong Investment Bank, Ms. Lee Jim Leng


Seng Fong's IPO involves the issuance of 160,874,300 IPO Shares in the following manner:

(A) Retail offering of 42,198,000 IPO Shares to be allocated in the following manner:
– 25,948,000 IPO Shares to the Malaysian public; and
– 16,250,000 IPO Shares to the eligible directors and employees of Seng Fong and its subsidiaries (Group) and persons who have contributed to the success of the Group;

(B) Institutional offering of 118,676,300 IPO Shares to be allocated in the following manner:
– 64,870,000 IPO Shares by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry ("MITI"); and
– 53,806,300 IPO Shares by way of private placement to other institutional and selected investors.

A total of 3,968 applications for 106,046,800 IPO Shares with a value of RM79,535,100 were received from the Malaysian public, which represents an overall oversubscription rate of 3.09 times. For the Bumiputera public portion, a total of 2,097 applications for 31,762,400 IPO Shares were received, which represents an oversubscription rate of 1.45 times. For the remaining Malaysian public portion, a total of 1,871 applications for 74,284,400 IPO Shares were received, which represents an oversubscription rate of 4.73 times.

Meanwhile, the 16,250,000 IPO Shares available to the eligible directors and employees of the Group and persons who have contributed to the success of the Group have also been fully subscribed.

Managing Director of Seng Fong, Mr. Er Hock Lai said, "We would like to thank investors for their response to our IPO as this is an indication of their confidence in the fundamentals of the business. We can now look forward to capture opportunities arising from the increasing demand from existing customers as well as from new customers as we ramp up production through the hiring of more people for a second shift and implementing ESG initiatives to make our business more sustainable."

Group Managing Director/ Chief Executive Officer of Hong Leong Investment Bank, Ms. Lee Jim Leng said: "We are pleased with the reception from investors to Seng Fong's IPO reflecting their confidence in the solid fundamentals of the business and in the leadership as well as vision of the founders and promoters."

Hong Leong Investment Bank Berhad is the Principal Adviser, Underwriter and Placement Agent for the IPO.

The notices of allotment will be posted to all successful applicants on or before 6 July 2022. The company will list on the Main Market of Bursa Malaysia Securities Berhad on 7 July 2022.

Seng Fong Holdings Bhd: http://sengfongholdings.com/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HKTDC launches brand-new exhibition model EXHIBITION+

HONG KONG, Jun 28, 2022 – (ACN Newswire) – International trade fairs and sourcing modes have seen dramatic changes in the wake of the COVID-19 pandemic, with the organisers of many physical exhibitions and seminars taking a new digitised or hybrid path. To assist enterprises in adapting to the new normal, and help them stay closely connected to international buyers, the Hong Kong Trade Development Council (HKTDC) is launching the brand-new hybrid exhibition model EXHIBITION+ to strengthen its exhibition platform. Meanwhile, the HKTDC International Sourcing Show runs from 5 to 8 July at the Hong Kong Convention and Exhibition Centre (HKCEC). Exhibitors and buyers at the event will be among the first to enjoy the smart business-matching platform, Click2Match, to actively assist them in seizing business opportunities.


HKTDC Deputy Executive Director Sophia Chong introduced the newly launched exhibition model EXHIBITION+ at a press briefing today, while Zuri Jewelry Company Ltd Director Victor Yiu (L) and Chit Tat Clock & Watch Co Ltd General Manager Philip Lau (R) shared their successful experiences using the Click2Match platform.

The physical HKTDC International Sourcing Show will run at the Hong Kong Convention and Exhibition Centre from 5 to 8 July. Exhibitors and buyers can use the smart business-matching platform, Click2Match, from 5 to 15 July to connect with global buyers. The photo shows the 2021 HKTDC Lifestyle Sourcing Show.


HKTDC Deputy Executive Director Sophia Chong said: "The pandemic has had a tremendous impact on Hong Kong's economy and particularly on small and medium-sized enterprises (SMEs). Amid the ongoing pandemic and geopolitical tensions, many enterprises have sought support from policies and aid packages to help them ride out the storm. From March 2020, the HKTDC adjusted quickly to the new reality, moving its various physical fairs, large-scale seminars and business-matching meetings to online platforms, striving to continue connecting local businesses with international buyers and offering various kinds of support. Now, the Council is launching EXHIBITION+ to help enterprises get better familiarised with digital platforms and capture online-to-offline international opportunities around the clock."

More than 90% of buyers have used online sourcing platforms

According to a recent buyer survey conducted by the HKTDC, which interviewed 600 international buyers from Association of Southeast Asian Nations (ASEAN) countries, Australia, Europe, Mainland China and the United States, most respondents (93%) had used online sourcing platforms, and over 85% had participated in virtual fairs to meet their sourcing needs. The majority of respondents said they would be willing to conduct sourcing through physical fairs (63%) or hybrid fairs (59%) once travel restrictions are lifted. The survey findings revealed that in the future, physical and online-to-offline integrated fairs could complement each other. (Key survey findings are shown in the appendix below.)

EXHIBITION+ reinvents trade fairs to serve businesses anytime, anywhere

EXHIBITION+ comprises four key exhibition elements, including HKTDC-organised physical fairs, the smart business-matching platform Click2Match, online-to-offline seminars under the Intelligence Hub, and the hktdc.com Sourcing platform, to provide round-the-clock services that boost the flexibility and effectiveness of business promotion for SMEs and offer benefits such as extended fair periods, expanded platforms and enhanced opportunities. EXHIBITION+ extends face-to-face interactions from physical exhibitions to an online smart business-matching platform to help enterprises connect with business partners proactively. As always, the HKTDC's 50 global offices will actively recruit international buyers, while its business-matching specialists will match suitable exhibitors according to buyers' sourcing demands, and arrange online and offline meetings to facilitate business cooperation.

Experience a unique business journey

With EXHIBITION+, exhibitors can start displaying their products to buyers on the fair website one month before the physical fair, while buyers can browse for products and shortlist exhibitors. One week before the physical fair, both buyers and exhibitors can actively search for business targets through the Click2Match platform, check out AI-recommended leads and send meeting requests. During the physical fair, they can meet at the fairground or online via Click2Match, while further online meetings can be scheduled and conducted up to one week after the fair. Exhibitors can still receive sourcing enquiries from buyers up to one month after the fair.

Click2Match connects suppliers with global buyers in a click

Smart business-matching platform Click2Match is built on the HKTDC's extensive database to greatly enhance the accuracy of smart matching through AI and big data analytics. Compared to physical exhibitions, where exhibitors typically need to wait for buyers to visit their booths, Click2Match enables them to actively search for suitable buyers and arrange meetings with global buyers. The platform features meeting scheduling, video conferencing, instant messaging, message translation (up to 14 languages), and file-sharing functions to facilitate easy communication between buyers and suppliers.

Fair attendees need just one account to seamlessly connect to the various HKTDC online platforms, allowing them to navigate between fair websites, Click2Match, hktdc.com Sourcing and the HKTDC Marketplace App anytime and anywhere. In addition, a series of online and offline seminars and conferences will be hosted during exhibition periods, helping attendees tap into the latest market trends by attending activities in person or watching via livestreaming or playback.

Some exhibitors were given prior access to use the Click2Match platform in March. One of the exhibitors, Zuri Jewelry Company Ltd Director Victor Yiu, said the platform is very user-friendly. "We can even check buyers' information before the fair and understand their sourcing demands, allowing us to better prepare for meetings and select the right products for buyers," Mr Yiu said. Another exhibitor, Chit Tat Clock & Watch Co Ltd General Manager Philip Lau, said he is using Click2Match to actively search for overseas buyers. "We will keep track of AI-recommended leads, look at their sourcing demands and schedule meetings in advance, hoping to increase the chance of orders being placed."

hktdc.com Sourcing helps explore blue ocean opportunities

As an extension of the physical fairs, hktdc.com Sourcing provides a trusted year-round online promotional platform. In addition to connecting with buyers at physical fairs, exhibitors can also seek out potential buyers in unexplored blue ocean markets, such as those specialising in online sourcing and overseas buyers that are unable to visit fairs. The platform shows exhibitors' profiles, along with a comprehensive overview of their products and services, increasing their exposure to buyers. The HKTDC recently added a "Request for Quotation" (RFQ) service to the platform, collecting sourcing requests from quality and reliable buyers and helping suppliers to seize every opportunity.

Comprehensive support to help SMEs' transformation

To comprehensively facilitate SMEs to upgrade and transform their business, and to help them maintain their competitiveness, the HKTDC offers a series of platforms and services, including the Digital Academy and E-Tailing Academy, providing professional training related to e-commerce and digital business. The Council also collaborates with major technological enterprises to provide cost-effective e-commerce, digital marketing and enterprise resources planning for SMEs.

T-box helps SMEs create business opportunities

Transformation Sandbox (T-box) is a three-month programme initiated by the HKTDC to promote SMEs' business upgrading and transformation, catering to their needs in the areas of branding, e-commerce, manufacturing and supply chain solutions and exploring new markets. The programme provides advisory services, workshops and government-funding information, helping enterprises to navigate trends, enhance techniques and expand their business network. T-box has attracted more than 2,000 SMEs to join since its launch. The HKTDC will step up its efforts to assist Hong Kong's SMEs in further developing overseas markets through a series of activities. These include liaising with Hong Kong business associations around the world and providing training, group consultations and exchanges with trade committees from foreign chambers of commerce or consulates to join HKTDC's overseas events, helping to build commercial connections and arrange business matching.

The HKTDC also strives to support SMEs in exploring business opportunities in other mature or new markets, including continuous support for Hong Kong companies in developing business in the ASEAN bloc and reinforcing the HKTDC's flagship overseas promotional events. For example, the "Think Business, Think Hong Kong" event will be enhanced with online-to-offline promotional platforms, offering a continuous business matching service along with an SME support scheme and various training activities, helping Hong Kong companies to connect with global enterprises and seize business opportunities in a more effective way.

Physical International Sourcing Show runs in parallel with online Click2Match

The upcoming HKTDC International Sourcing Show brings together seven trade fairs, including the HKTDC Hong Kong Electronic Fair (Spring Edition), HKTDC Hong Kong International Lighting Fair (Spring Edition), HKTDC Hong Kong Gifts & Premium Fair, Hong Kong Houseware Fair, HKTDC Hong Kong Fashion Week, HKTDC Hong Kong International Home Textiles & Furnishing Fair, and the Hong Kong International Printing & Packaging Fair, attracting over 1,700 exhibitors from 12 countries and regions with more than 83,000 products. The physical edition will be held from 5 to 8 July in the format of display showcases. Exhibitors and buyers who cannot join due to international travel restrictions can stay connected through Click2Match, the smart business-matching platform of EXHIBITION+, from 5 to 15 July.

Four themed categories display a variety of products

Themed "Smarter Sourcing – Better Living", the International Sourcing Show will highlight a broad range of quality lifestyle products under four main categories, namely Healthy Living, Smart Living, Stylish Living and Sustainable Living. Highlighted products include the TiO2 table lamp, which features 24/7 antibacterial, antivirus, and air purification functions; smart cycling glasses that combine micro-lens, micro-display and thin-film encapsulation Internet of Things (IoT) technologies; and a wireless "lapstation" bag combining wireless charging and workstation, with heat ventilation and water-resistant design.

Seminars share marketing strategies and innovative technology applications

A host of seminars will be held during the show covering hot topics such as digital and social media marketing strategies, testing and qualification services for textiles and shoe production supply chains, the aesthetics of scientific design research, IoT innovation beyond the home, and an introduction to the government's Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund). There will also be networking sessions, assisting enterprises to stay connected and expand business opportunities.

Main survey findings from "B2B Online Sourcing: A Buyer Behaviour Study Towards Recovery"

Buyers who used online sourcing platforms in the past 12 months
– Yes 93%
– No 7%

Buyers who joined virtual fairs in the past 12 months
– Yes 85.5%
– No 14.5%

Buyers' sourcing preferences in post-COVID-19 era
– Physical fairs 63%
– Hybrid fairs 59%
– Virtual fairs 37%
– Online sourcing platforms 21%

2022 International Sourcing Show Details

Date and time (physical fair): 5-7 July (Tue to Thu) 10am-6pm, 8 July (Fri) 10am-5pm
Opening period for Click2Match platform: 5-15 July
Venue (physical fair): Hall 1C, Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wan Chai, Hong Kong
Exhibition covered:
– Hong Kong Electronics Fair (Spring Edition)
– Hong Kong International Lighting Fair (Spring Edition)
– Hong Kong Gifts & Premium Fair
– Hong Kong Houseware Fair
– Hong Kong Fashion Week
– Hong Kong International Home Textiles and Furnishings Fair
– Hong Kong International Printing & Packaging Fair (co-organised with CIEC Exhibition Company [HK) Limited)
International Sourcing Show website: https://isshow.hktdc.com/

Related website
– hktdc.com Sourcing: https://sourcing.hktdc.com/
– HKTDC Media Room: http://mediaroom.hktdc.com/
– Photo download: https://bit.ly/3HYyQUN

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

Media enquiries
Please contact the HKTDC's Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Leon Fuat Berhad Shareholders Vote to Pass All Resolutions at AGM

SHAH ALAM, Malaysia, Jun 28, 2022 – (ACN Newswire) – Leon Fuat Berhad, a manufacturer and trader of steel products, specialising in rolled long and flat steel products, is pleased to announce that shareholders have passed all resolutions at the Group's 15th AGM held today.


Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat


Shareholders passed a resolution approving a final single tier dividend of 2.0 sen per share for the financial year ended 31 December 2021 (FY2021).

Shareholders also voted to re-elect Dato' Sri Ooi Bin Keong, Mr. Tan Did Heng, Mr. Tan Sack Sen and Dato Lim Cheng Poh as directors as well as to retain Mr. Chan Kee Loin as an independent director. Also retained as independent directors were Did Heng and Sack Sen.

Among the other resolutions up for voting, shareholders reappointed Baker Tilly Monteiro Heng PLT as the Group's auditors and authorised the directors to fix the remuneration of the auditors.

Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat said, "We are happy to meet our shareholders again in a physical setting for the 15th AGM after having held the previous AGM virtually. We would like to thank shareholders for their trust and confidence in us as we navigated a challenging FY2021. Our financial performance for the first quarter ended 31 March 2022 was satisfactory despite the decrease in overall gross profit margin."

"We are cautiously optimistic of achieving profitable results for the remaining quarters of FY2022 but would like to point out that the outlook has dimmed considerably with the World Bank having cut global economic growth outlook to 2.9% for this year from the 4.1% growth outlook it had forecast in January 2022. To mitigate risks, the Group will continue to monitor steel prices closely as well as related foreign currencies. We will also take proactive measures such as anticipating price and currency volatility through negotiating forward contracts as well as prudent inventory management."

Leon Fuat Berhad: [BURSA: LEFU] , https://www.leonfuat.com.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

32nd annual Hong Kong Book Fair returns on 20 July

HONG KONG, Jun 24, 2022 – (ACN Newswire) – The 32nd HKTDC Hong Kong Book Fair, organised by the Hong Kong Trade Development Council (HKTDC), will run from 20 to 26 July (Wednesday to Tuesday) at the Hong Kong Convention and Exhibition Centre (HKCEC). Tickets will open for sale on 27 June while online registration for seminars opens today (24 June), offering a wide range of stimulating and thought-provoking events for Hong Kong's booklovers.


The 32nd annual HKTDC Hong Kong Book Fair returns on 20 July. The theme of this year's fair is "History and City Literature", with the tagline "Reading the World: Stories of Hong Kong". The HKTDC will introduce celebrated authors and their outstanding works to Hong Kong's booklovers, sharing the joy of reading with the public. The picture shows scenes from last year's Book Fair.


As one of the celebration events for the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, the HKTDC has invited renowned authors to host and participate in seminars and cultural events. The Book Fair will run in parallel with the 5th HKTDC Hong Kong Sports and Leisure Expo and 2nd HKTDC World of Snacks, giving visitors the chance to enjoy three very different experiences with a single ticket.

Theme of the year: "History and City Literature"

The theme of this year's Book Fair is "History and City Literature", with the tagline "Reading the World: Stories of Hong Kong". The HKTDC will introduce celebrated authors and their outstanding works to booklovers, giving them a deeper understanding of Hong Kong's historical and cultural development and promoting the joy of reading among the public. Thematic exhibitions titled "History Writers" and "City Literature" will be featured at the Art Gallery, allowing visitors to savour Hong Kong's unique story through literature and arts. Two other exhibitions, "Tastes of Hong Kong" and "Hong Kong Architecture", will offer different perspectives on the city's lifestyle and culture through collections and artworks.

The "Eight Seminar Series" is one of the highlights at the Book Fair. This year's topics include "Stories of Hong Kong", "Renowned Writers", "English and International Reading", "World of Knowledge", "Children and Youth Reading", "Lifestyle", "Hong Kong Cultural and Historical", and "Personal Development and Spiritual Growth". Meanwhile, the always popular "Storytelling by Celebrities" series will invite star speakers to share inspirational stories with children.

Diverse experiences at Sports and Leisure Expo and World of Snacks

This year's Hong Kong Sports and Leisure Expo will cover eight thematic zones and bring together a wide range of sports and leisure brands, products and experiences, along with a number of free trials for visitors to enjoy. World of Snacks, meanwhile, features six thematic zones and will offer more than 1,000 tasty treats from across the globe, including Japan, Taiwan, South Korea, Germany, Australia, Greece and Spain.

Online registration for the Book Fair's seminars opens today and is free of charge on a first-come-first-served basis. Please visit www.hkbookfair.com to reserve a spot. Tickets for the fair will open for sale on 27 June – find more details in the appendix below.

The HKTDC's Cultural Salon Press Conference will be held in early July to provide more information on the Book Fair, Hong Kong Sports and Leisure Expo and World of Snacks. Details of the Art Gallery thematic exhibitions will be provided with the author line-up for the "Eight Seminar Series" and other cultural activities. Featured events and activities from the Hong Kong Sports and Leisure Expo and World of Snacks will also be covered. Meanwhile, the HKTDC Education & Career Expo will run alongside the three events from 21 to 24 July. Details will be announced in due course.

Hong Kong Book Fair, Hong Kong Sports and Leisure Expo and World of Snacks
* See https://mediaroom.hktdc.com/en/pressrelease/detail/20358/

Photo Download: https://bit.ly/3QJpmkk

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

Media enquiries

Hong Kong Book Fair

HKTDC's Communications & Public Affairs Department:
Clementine Cheung, Tel: +852 2584 4514, Email: clementine.hm.cheung@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

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

Hong Kong Sports and Leisure Expo, World of Snacks

HKTDC's Communications & Public Affairs Department:
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org

Yuan Tung Financial Relations:
Tiffany Leung, Tel: +852 3428 2361, Email: tleung@yuantung.com.hk

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Malaysian Genomics Resource Centre to Offer Pioneering Holistic Renal Care via New Venture

PETALING JAYA, Malaysia, Jun 23, 2022 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, announced today that the Group is acquiring a 51% stake in Aquahealth Sdn Bhd, a kidney dialysis operator, from Rinani Renal Berhad.


En. Sasha Nordin, Chief Executive Officer of Malaysian Genomics


Aquahealth is establishing a kidney dialysis centre in Gombak, Selangor, with the license to operate the centre owned by the Malaysia International Islamic Chamber of Commerce. With the acquisition of the stake, Malaysian Genomics, through its wholly-owned subsidiary, MGRC Healthcare Sdn Bhd, will now become the operator of the dialysis centre.

En. Sasha Nordin, Chief Executive Officer of Malaysian Genomics, said, "This will be the first of many centres across the country that will be driven by a personalised kidney care model integrating dialysis with nutrition management, lifestyle changes, and even genetic testing of patients and their immediate family members. This pioneering approach will focus on bringing innovations in service delivery to improve the lives of patients with chronic kidney disease."

"Expanding downstream to healthcare services, through our subsidiary MGRC Healthcare, is an important step in Malaysian Genomics' growth as a diversified specialist healthcare group. The acquisition of the Aquahealth stake is part of our Group's strategy to secure a diverse portfolio of earnings accretive assets across Southeast Asia that will, in turn, leverage and benefit from our genomics and biopharmaceutical knowledge and experience developed over the past 18 years."

According to the Ministry of Health's Management of Chronic Kidney Disease report, the number of Malaysians with kidney disease is projected to increase significantly in the future mainly due to the prevalence of diabetes, hypertension and an aging population[1]. At 13.2% per year, Malaysia has the second highest annual growth rate of chronic kidney disease in the world[2].

Dato' Dr. Suhaini Kadiman, Chairman of Malaysia International Islamic Chamber of Commerce and Director of Clinical Research at Institute Jantung Negara added, "Thousands of kidney patients are on waiting lists for dialysis treatment and new centres are urgently needed. We welcome MGRC Healthcare's interest to collaborate with us to operate the centre in Gombak, and we look forward to the innovations they will contribute to improve the lives of kidney dialysis patients."

Recently, Minister of Health YB Tuan Khairy Jamaluddin noted that there were over 40,000 kidney patients in Malaysia, with over 8,000 new patients diagnosed annually since 2018[3].

[1] https://tinyurl.com/42jexjsk
[2] https://tinyurl.com/2cmkmzkz
[3] https://tinyurl.com/mr3mkfmk

Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

G20 committed to financing better pandemic response

JAKARTA, Jun 22, 2022 – (ACN Newswire) – The G20 members and several relevant international organizations agreed to work together to create the Financial Intermediary Fund (FIF) to help countries in need to face any pandemic in the future.


Indonesian Health Minister Budi Gunadi Sadikin (L) and Indonesian Finance Minister Sri Mulyani (R) at the first G20 Joint Finance and Health Ministerial Meeting held in Yogyakarta, 21 June. (ANTARA/AstridFaidlatulHabibah)


During the 1st G20 Joint Finance and Health Ministerial Meeting held in Yogyakarta on Tuesday, Indonesian Finance Minister Sri Mulyani emphasized the urgency for collaborative work between health and finance sectors to better prepared for future pandemics, considering that the COVID-19 would not be the last.

"The world is definitely watching us – how the G20 is going to respond with delivering concrete action in pandemic preparedness and response. The world is waiting for us," Mulyani remarked.

Furthermore, she also asserted the importance of inclusivity in the work of FIF, led together by the World Health Organization (WHO) and the World Bank, which required the involvement of both developed and developing countries.

"Only then, we can be effective in preparing to tackle the next global pandemic together," Mulyani stated.

"I would like to acknowledge the central role of the WHO in fighting pandemic and the importance of including the voice of developing countries in our institutional arrangement to create the most effective system for pandemic preparedness and response," she added.

The WHO and the World Bank estimated that US$31 billion is required annually for strengthening global health security, according to WHO Director General Tedros Adhanom Ghebreyesus.

About two-third of that fund could come from existing resources but that leaves a gap of US$10 billion per year. Hence, he expects that the FIF would help close that gap.

WHO and the World Bank have been cooperating to establish the FIF, which would be overseen by a board that takes a decision on funding allocation supported by a technical advisory panel.

Both the board and the technical advisory panel would be supported by the joint WHO-WB secretariat based at the Bank's headquarters in Washington, with assisting staff from the WHO.

According to the plan, the Bank will provide financial and administrative leadership at the secretariat, operate as a representative for the FIF, hold and transfer relief funds, as well as provide administrative services.

Meanwhile, the WHO will provide technical leadership; coordinate input for the technical advisory panel; and prepare relevant technical documentation, recommendations, and reports for the council.

Both the World Bank and WHO will act as implementing entities, along with other global health partners with relevant expertise, including the Global Fund, the Global Alliance for Vaccines and Immunization (GAVI), and the Coalition for Epidemic Preparedness Innovations (CEPI).

"We look forward to your active participation in building and financing a FIF that is inclusive, equitable, and effective in making our world safer from pandemics," Tedros noted.

To date, the G20 has pushed for an emergency fundraising commitment of around US$1.1 billion from five member countries and one international social organization to mobilize the role of FIF.

The pledges came from the United States, the European Union, Germany, Indonesia, Singapore, and the Wellcome Trust.

Additionally, Indonesian Health Minister Budi Gunadi Sadikin stated the meeting was not only focusing on the FIF as the source of funds to face future pandemics, but the world must also think about the uses of funds.

"Because money is (only) half the solution for the health crisis. We need to translate this money into access to vaccines, medicines, and diagnostic tools," he said at a press conference after the joint ministerial meeting.

In order to create such access, he explained, the engagement with private sectors as the producers of vaccines, therapeutics, and diagnostics was crucial.

"We need to talk to them, to engage with them. How can they maintain a certain volume commitment? How then we will be able to distribute equally and very quickly if the next pandemic happens?" he noted.

The establishment of FIF is still in the ongoing discussion that will be continued at the next G20 meetings, hosted this year by Indonesia.

However, as the G20 President, Indonesia will continue to gather as much as possible support from more countries as well as an international organization even philanthropists, in order for them to be able to contribute to the financing side of pandemic preparedness and response.

Written by: Yashinta Difa Pramudyani, Editor: Fardah Assegaf (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CIMB Niaga and JCB launch JCB Digital Credit Card in Indonesia

TOKYO & JAKARTA, Jun 22, 2022 – (ACN Newswire) – PT Bank CIMB Niaga Tbk (CIMB Niaga) and PT JCB International Indonesia (JCB), as a subsidiary of JCB International Co. Ltd., launched the CIMB Niaga JCB OCTO Card Digital Credit Card in Jakarta, on 22nd June 2022. This credit card with digital or virtual technology was developed in line with the rapid growth of demand for online transactions and credit card technology. The Digital Credit Card provides a number of improvements. It enables the user to apply for CIMB Niaga JCB OCTO Card Digital Credit Card anytime and anywhere, and it also provides a safer and easier payment method for online transactions by using a one-time password (OTP).

Director of Consumer Banking CIMB Niaga Noviady Wahyudi said, "CIMB Niaga continues to innovate to develop digital customer experience by integrating various products and services into the OCTO Mobile Super App, making it easier for people to meet their financial needs. Recently, we innovated to present the CIMB Niaga JCB OCTO Card Digital Credit Card, which provides a comprehensive digital transaction experience for users," said Noviady.

Meanwhile, President Director of PT JCB International Indonesia, Takumi Takahashi, said, "The launching of this new Digital Credit Card shows our successful collaboration with CIMB Niaga and our commitment to cater to the demand for digital transactions in Indonesia. We believe with this new Digital Credit Card, customers can experience the uniqueness of JCB."

The issuance of the CIMB Niaga JCB OCTO Card Digital Credit Card is an initiative of CIMB Niaga and JCB to provide an easier, faster and safer online transaction experience. All transactions will be verified by entering a random two (2) digit OCTO Mobile PIN, and online transactions at most online merchants that have implemented 3D secure security are protected by a one time password (OTP) sent to a mobile phone number registered with the Bank. These features minimize the risk of online fraud and losses due to card theft. Customers also have the option to immediately block their CIMB Niaga JCB OCTO Card Digital Credit Card via the CIMB Niaga OCTO Mobile.

With the fast online application process for the Digital Credit Card, customers will have easier and instant access to their credit cards at the time of payment, without the hassle of carrying a physical credit card. Overall, this new Digital Credit Card is a convenient and hassle-free way to do transactions instantly.

The main features and benefits of this Digital Credit Card include 10% cash back for online transactions through the CIMB Niaga OCTO Mobile, a free installment fee with a 3 month tenor for minimum retail transactions of Rp 500,000, and a free annual fee. For detailed information, please visit: https://www.cimbniaga.co.id/id/personal/kartu-kredit/octo-card.

CIMB Niaga JCB OCTO Card Digital Credit Card customers can use the Card with the above features and benefits at more than 100 thousand offline and online merchants in Indonesia.

About CIMB Niaga

CIMB Niaga was established under the name of Bank Niaga in 1955. Approximately 92.5% of CIMB Niaga's shares (including those owned by PT Commerce Kapital of 1.02%) are owned by the CIMB Group. CIMB Niaga offers complete banking products and services, both conventional and Sharia, through a 428 office network as of 30 June 2021, consisting of 358 branch offices, 37 Digital Lounges and 33 Mobile Branches. CIMB Niaga has 12,389 employees (consolidated) as of June 30, 2021.

CIMB Group is the second largest financial services provider in Malaysia and one of the leading universal banking groups in ASEAN. The products and services it offers include consumer banking products and services, investment banking, Islamic banking, asset management and insurance. CIMB Group is headquartered in Kuala Lumpur, and operates in all ASEAN member countries (Malaysia, Indonesia, Thailand, Singapore, Cambodia, Brunei, Vietnam, Myanmar, Laos, and the Philippines). In addition to the ASEAN region, CIMB Group has also established offices in China, Hong Kong, India, Sri Lanka, the United States, the United Kingdom, and Korea. CIMB Group's shares are listed on Bursa Malaysia through CIMB Group Holdings Berhad. As of 30 June 2021, the group has a market capitalization value of USD 11.1 billion.

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 39 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

Contact
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Jubilee Industries Holdings welcomes strategic investor, value-unlocking and synergies to support further growth

SINGAPORE, Jun 22, 2022 – (ACN Newswire) – Catalist-listed Jubilee Industries Holdings Ltd has entered into a Sales and Purchase Agreement (SPA) with UPC Electronics Pte. Ltd. (Purchaser) for the sale of the Company's 14% stake in WE Components Pte. Ltd. (WEC), the Group's EBU (Disposal).



The Disposal offers significant synergies with the Purchaser's existing operations and strategic priorities, leveraging WEC's extensive product portfolio and strong presence across Asia. The Hong Kong incorporated Purchaser's main business is the promotion and distribution of products and solutions of semiconductor manufacturers in the People's Republic of China and overseas.

The total cash consideration of US$2.1 million received for the Disposal will be utilised for general working capital purposes and the expansion of Jubilee's business.

Jubilee's Executive Chairman and Chief Executive Officer, Dato' Terence Tea, said, "The Disposal reflects the deep value of Jubilee's EBU that we have built over the years. Working together with UPC, we are confident in the EBU's long-term growth prospects as we strive to build sustainable value for shareholders."

Under Dato' Terence Tea's leadership, Jubilee's EBU has staged a full recovery from the initial impact of Covid-19, recording a 67.4% increase in revenue from S$119.9 million for the 12 months ended 31 March 2021 (FY2021) to S$200.7 million for the same period this year (FY2022).

About Jubilee Industries Holdings Ltd

Established in 1993 and listed on SGX-Catalist since 10 July 2009, Jubilee Industries Holdings Limited is a one-stop service provider with two main business segments:

1. Mechanical Business Unit (MBU), which is engaged primarily in precision plastic injection moulding (PPIM) and mould design and fabrication (MDF) services (Mechanical Segment); and
2. Electronics Business Unit (EBU), which distributes integrated electronic components.

Headquartered in Singapore, Jubilee's production facilities span across Malaysia and Indonesia. Jubilee's products are sold to customers in the United States, the People's Republic of China, Singapore, India, Indonesia, Malaysia, Vietnam and various European countries. For more information, please visit http://www.jihldgs.com

Issued on behalf of Jubilee Industries Holdings Limited
by Waterbrooks.com.sg

For media enquiries, please contact:
Wayne Koo / Elliot Siow
+65 9338 8166 / +65 6381 6347
Email: wayne.koo@waterbrooks.com.sg / elliot@waterbrooks.com.sg

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Nomination Opens for “Directors Of The Year Awards 2022”

HONG KONG, Jun 22, 2022 – (ACN Newswire) – The "Directors Of The Year Awards 2022" organised by The Hong Kong Institute of Directors ("HKIoD") is open for nomination now. Themed "From Resilience to Sustainability", the Awards this year recognises directors and boards capable of leading their companies in adapting to changes and, with outstanding governance thinking and practical strategies skills, taking their companies towards sustainable development in the ever-changing business environment.



Dr Christopher To, Chairman of HKIoD, said, "Leadership in crisis calls for the ability to rethink and redefine some long-standing values or structure, and also the courage and strength to brave the uphill. In the at large uncertain environment now, we must keep learning, evolving, adapting and changing, to make sure the 'new normal' is a 'better normal'. Marking HKIoD's 25th Anniversary, this year's award is themed 'From Resilience to Sustainability', reflective of what we have learnt over the years. Resilience is the most important quality a company needs to survive in the ever-changing world and sustainability is the ultimate goal of every company. I hope all of you can nominate directors and boards standing out in these two aspects, that we may take as examples to inspire all in the business sector to excel."

Mr Richard Ho, Chairman of 2022 Directors Awards Organising Committee, said, "When discussing the award theme this year, the Committee thought though the global scene is still unpredictable and challenging, it has become clearer. Thus, we decided to have 'From Resilience to Sustainability' as the theme easier to grasp. We hope to commend those outstanding leaders who braved the challenges from the pandemic and helped their companies achieve good results, and also to remind those in different sectors to set their eyes on long-term strategy and advance towards their sustainable development goal."

Dr Carlye Tsui, CEO of HKIoD, said, "All of us, companies or individuals, have gotten used to staying clam in the turbulent environment. With our feet firmly on the ground, it is time that we head again towards our long-term targets. Directors, as leaders of a company, should be sensitive at all times to changes in the market and plan the 'next step' to take. For example, Web3.0 is the latest and a major trend likely to bring revolutionary changes in the near future to all of us. Business leaders who do not have a good understanding of it might just miss the opportunities that come with it. Offering diverse and innovative courses, HKIoD helps members refresh what has been learnt and acquire new knowledge, so that they may be ready any time to take their companies forward."

Nomination for the Awards will close on 1 August 2022. On the Judging Panel are business leaders, professionals and regulatory body representatives in Hong Kong. The Directors Of The Year Awards 2022 recognise excellence in the following categories:

Company Categories / Director Categories
1. Listed Companies / 1. Executive Directors
2. Non-Listed Companies / 2. Non-Executive Directors
3. Statutory/Non-Profit-Distributing Organisations* / 3. Boards
Notes: *A non-profit-distributing organisation is defined as an organisation which profits are not distributed to its shareholders, members, directors, employees or any other persons, and with objectives including, but not limited to, charitable welfare, social service, health and medical care, education, research, trade and industrial alliance, professional advancement, self-help support, etc.

The selection criteria for winners in the Individual Director Categories include: successful pursuit of strategic corporate business/non-profit functions, contribution to board effectiveness in strategic planning and monitoring of performance, implementing compliance, risk control and accountability measures, managing change and succession, and leadership and other attributes and qualities, including keen at continuing professional development, business ethics and other achievements. As for the Collective Board Categories, the judging criteria include: board composition, effectiveness in pursuing strategic corporate/non-profit functions, development and execution of strategic plans and monitoring of performance, implementing compliance, risk control and accountability measures, managing change and succession, development of the board, effectiveness of board committees, business ethics and other achievements.

The Awards nomination form and related information are available on The Hong Kong Institute of Directors website www.hkiod.com.

About Directors Of The Year Awards
Launched in 2001, the Directors Of The Year Awards was the first of its kind organised in Asia. It is now an annual project of impact in the community. Its objectives are to recognise directors and board of directors for outstanding director practices and corporate governance, to publicise the significance of good corporate governance and to promote awareness of good corporate governance and director professionalism in Hong Kong. Nominations are open to the public. As good corporate governance is vital to all types of organisations, and professional practices from directors in all board roles are encouraged, the Awards recognise excellence in categories by company types, including listed companies, private companies and statutory/non-profit-distributing organisations, and categories by roles, including Executive Directors, Non-Executive Directors and Boards. For more details on the previous years' Awards, please visit http://www.hkiod.com/dya-awardees.html.

About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website: http://www.hkiod.com.

Media Enquiries:
Strategic Public Relations Group
Brenda Chan +852 2114 4396 brenda.chan@sprg.com.hk
Chak Yau +852 2114 4395 chak.yau@sprg.com.hk
Fax: +852 2114 4948

Directors Of The Year Awards 2022 Enquiries:
The Hong Kong Institute of Directors
Odessa So +852 2889 4988 odessa.so@hkiod.com
Joanne Yam +852 2889 1414 joanne.yam@hkiod.com
Fax: +852 2889 9982


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BayWa r.e. Expands and Strengthens Renewable Energy Business with Wind Projects Representative Office Opening in Lang Son Province in Vietnam

HO CHI MINH CITY, VIETNAM, Jun 21, 2022 – (ACN Newswire) – Global renewable energy developer, service provider and distributor, BayWa r.e., today announced the opening of its Wind Projects Representative office in Lang Son Province, Vietnam. The opening of the Wind Projects Representative office will strengthen BayWa r.e.'s position as a key renewable energy developer in Vietnam and enable the company to provide a wider range of wind energy services in the country.


Mr. Brian Barry (Head of Wind Asia, BayWa r.e.), Mr. Nguyen Dinh Dai (Director of DOIT), Mr. Daniel Gaefke (APAC Director, BayWa r.e.), Mr. Daniel Emunds (German Embassy representative, Economic Affairs and Development Cooperation)

Loi Dang Van (Wind Project Developer, BayWa r.e.), Mr. Brian Barry (Head of Wind Asia, BayWa r.e.), Mr. Daniel Gaefke (APAC Director, BayWa r.e.), Stephanie Tan (Project Manager, Wind Project Development, BayWa r.e.), Nam Le (Senior Wind Project Developer, BayWa r.e.)


The opening ceremony of the office was officiated by local government officials, which included leaders of the province's People Committee, relevant departments of Industry and Commerce, Planning and Investment, Natural Resources & Environment, Agriculture and Rural Development, Transportations and local districts and German Embassy representative Mr. Daniel Emunds, Economic Affairs and Development Cooperation as well as local partners and contractors. The new representative office is expected to promote positive socio-economic developments and impact for the local community.

Mr. Brian Barry, Head of Wind Asia, BayWa r.e. said "We are excited to see the exponential growth of BayWa r.e. in Vietnam and look forward to working closely with provincial and country stakeholders. We hope that through our investments into Vietnam and especially the Lang Son province at present, we will be able to bring more value to our stakeholders and communities living in the area. This is a step closer for us to work towards achieving Vietnam's strategy for sustainable and clean energy development and to facilitate the country's ambition of becoming net-zero by 2050."

Mr. Pham Hung Truong, Chief of Office of the People's Committee of Lang Son shared: "We welcome BayWa r.e. opening its Representative Office in Lang Son. It is hoped that the Representative Office will be an effective bridge between the company and local government agencies, promoting the successful implementation of investment and construction of wind power projects of BayWa r.e. in Lang Son, contributing to the socio-economic development of the province. We acknowledge the valuable support of BayWa r.e. to the two primary schools of Khuoi Lay and Suoi Long recently; at the same time, we believe that in the coming time, your company will continue accompanying the local government to strengthen forms of support to local communities in the spirit of "Harmonious benefits, sharing risks!".

BayWa r.e. first established its presence in Vietnam in 2020, with its head office located at Ho Chi Minh City. BayWa r.e. launched new services to its 'on-the-ground' operation in Vietnam, opening a solar distribution warehouse and new office facilities in Ho Chi Minh City to bring direct local access to solar PV, inverters, and much more renewable energy solutions. Since then, the company has been an active renewable energy partner in the Corporate & Industrial segment in Vietnam, developing Solar and Wind Projects, and providing Solar Distribution services.

In addition, BayWa r.e.'s development team also has a 400MW pipeline of wind energy projects across sites in north Vietnam and is developing 150MW solar projects in the south of the country. In Lang Son province, BayWa r.e. is planning to develop 240MW of wind energy projects to leverage Vietnam's wind capacity.

Added Mr. Barry, "Our office opening is a key milestone and the culmination of 2 years of development and investment in Lang Son. But this is just the beginning of our commitment and partnership with Lang Son as we prepare for the implementation of our wind projects. With our Lang Son office now established we will grow our Lang Son team to scale up our activities in preparation for our investment decision and the construction of the provinces first wind projects."

"Having an office located where we are operational will enable more efficient work processes and allow direct access for stakeholders to communicate with BayWa r.e. This will also facilitate future development of wind projects in this province. Our on-site employees will also be able to effectively monitor current and future wind energy projects, which will ensure the longevity of the developments."

BayWa r.e. recently announced the successful completion and handover of new sanitary facilities for Khuoi Lay Elementary School and Suoi Long Elementary School in Lang Son Province. This is part of BayWa r.e.'s long standing commitment to helping local communities, and also reaffirms the company's continued dedication to drive sustainable growth for the people of Lang Son province.

BayWa r.e. AG (BayWa r.e.)

At BayWa r.e. we r.e.think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.

We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4.5GW of energy online and manage over 10GW of assets. We are also an Independent Power Producer with an expanding energy trading business.

BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.

Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.

Our shareholders are BayWa AG, a EUR19.8 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment. Visit https://www.baywa-re.com/en/.

Contact information:

PRecious Communications for BayWa r.e. AG
Foo En Jing
Tel: +65 6303 0567
E-mail: baywa-re@preciouscomms.com

BayWa r.e. AG
Salim Pathan
Marketing Manager, APAC
Tel: +66 62 698 7162
Email: salim.pathan@baywa-re.com

Mark Cooper
Corporate Communications
Tel: +49 89 383932 3611
E-mail: mark.cooper@baywa-re.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com