Healthcare Hiring on the rise in the Philippines: foundit Insights Tracker

Despite a slight dip in the country’s annual hiring activity, healthcare and retail continue to offer promising job opportunities.
Healthcare professionals lead all other industry job roles charting the highest annual growth of 21% in June ‘23

MANILA, Aug 2, 2023 – (ACN Newswire) – foundit (formerly Monster APAC & ME), one of the leading talent platforms, today published the foundit Insights Tracker (fit) for June 2023, formerly published as Monster Employment Index (MEI). According to the Philippines fit report, job roles in the Healthcare and Retail sector have impressively grown by 26% and 12% respectively over the past year.

The tracker also reveals a marginal dip of 2% in e-recruitment activity, as the index climbed down from 127 in June 2022 to 124 in June 2023. Despite this drop in recruitment activity, sectors such as Healthcare, Retail, and BPO/ITES witnessed progressive annual hiring growth in June’23. Amidst the ongoing pursuit of cost-cutting measures by global businesses, call centers and outsourcing companies in the Philippines have exceeded revenue and hiring targets and managed to maintain a positive outlook for the BPO job market. These promising numbers confirm a gradual but continuous improvement in the labour market, implying that demand for online recruitment will continue to climb in the coming months.

Commenting on the Philippines job trends for June 2023, Sekhar Garisa, CEO, foundit, said, “Hiring is picking up pace in the Philippines. We are hopeful that jobs will rebound in the upcoming months as certain sectors such as Healthcare, Retail, and BPO/ITES are showing a positive growth trajectory. The Philippines government has also shown support for gig & hybrid jobs, boosting hiring for service. This is crucial for job seekers, as it gives them more flexibility and opportunities to work in different sectors and locations.”

Healthcare, Retail, and BPO/ITES sectors lead in hiring activity, while the IT, Telecom, Logistics, Courier/Freight, and Advertising industries witness a drop in recruitment.

The fit reveals that the Healthcare industry continued to dominate the job market in June 2023, with a YoY increase of 26% hiring in the sector. Despite the shortage of skilled nurses and doctors, there has been a promising upward trend in hiring efforts to meet the country’s healthcare demands. Also, the Retail industry (+12%) witnessed double-digit growth in hiring demand this month owing to the increased number of customers visiting physical stores. Given that the Filipino government had allowed BPO companies with work-from-home arrangements to retain tax incentives, the hiring in the BPO/ITES sector (+11%) saw sequential annual growth in June ’23.

The Logistics, Courier/Freight/Transportation, and Shipping industry along with IT and Telecom/ISP has recorded a dramatic decline in hiring activity, with a YoY decrease of 34% and 20% respectively. Logistics has always presented a major challenge in the Philippines due to inadequate infrastructure, frequent weather-related disasters, and scattered demand. Consequently, the industry has struggled to thrive, resulting in sluggish hiring trends within the sector. The growth momentum for other industries such as Advertising, MR, PR, Media & Entertainment (-18%), Engineering, Construction and Real Estate (-1%), Hospitality (-3%), BFSI (-13%), Production/Manufacturing, Automotive and Ancillary (-14%), and Education (-17%) saw a consecutive dip annually in June’23.

Roles in Healthcare, Sales & Business Development, and Customer Service lead the hiring trends

There continues to be a high demand for Healthcare (+21%) professionals marking the steepest annual growth in June’23. With the sudden jump in the retail sector, the jobs in Sales & Business Development (+17%) went up leading to increase in demand for candidates Customer service and software, hardware, and telecom functions are also experiencing positive and steady growth of 11% and 3%, respectively, due to the improving economy.

Jobs in Purchase/ Logistics/ Supply chain (-24%) have been facing some challenges since Jan’23 and showed the lowest growth in hiring this month among all monitored functions. Hiring for Marketing & Communications (-21%) and HR & Admin (-21%) roles too dipped substantially in June’23. Other industries to witness a subsequent drop in hiring activity include – Hospitality & Travel (-1%) Engineering/ Production, Real Estate (-2%), and Finance and Accounts (-10%).

The foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the foundit Insights Tracker (fit) presents a snapshot of employer online recruitment activity nationwide.

Period for the report

The period considered for the foundit Insights Tracker (fit) data is June 2022 vs. June 2023.

About foundit – APAC & Middle East

foundit, formerly Monster (APAC & ME), is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has assisted over 75 million registered users to find jobs, upskill, and connect with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in the world of recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalized job searches, and precision hiring. foundit strongly believes that a job title doesn’t define one’s potential and leverages technology to dig deeper to curate opportunities central to the needs and aspirations of each user.

To learn more, about foundit in APAC & Gulf,

Contact:
Namrata Sharma
Namrata.sharma@adfactorspr.com
+6581383034

KGW Group Berhad Debuts on ACE Market

KUALA LUMPUR, MALAYSIA, Aug 1, 2023 – (ACN Newswire) – KGW Group Berhad, a logistics services provider offering ocean freight services, air freight services and freight forwarding services as well as warehousing and distribution of healthcare-related products and devices, debuted today on the ACE Market of Bursa Malaysia Securities Berhad, opening at RM0.23 per share which represents a premium of 9.5% over the initial public offering (IPO) price of RM0.21 per share.

KGW is listed under the stock name of "KGW" with stock code of "0282".

KGW is an award-winning and asset-light logistics services provider specialising in managing and coordinating the movement of goods within the supply chain. KGW is supported by three subsidiaries, namely KGW Logistics (M) Sdn Bhd ("KGW Logistics"), Mattroy Logistics (Malaysia) Sdn Bhd ("Mattroy Logistics"), and KGW Medica Sdn Bhd ("KGW Medica"). KGW Logistics focuses on shipping cargo to and from the United States, which is KGW's largest market whereas Mattroy Logistics handles shipments to and from other regions of the world. Meanwhile, KGW Medica specialises in warehousing and distribution of healthcare-related products and devices.

The Group raised a total of RM16.73 million through the IPO, from which RM10.00 million of the proceeds is allocated to repay bank borrowings in relation to the purchase of a freehold three-storey office building with an annexed two-storey warehouse located at Glenmarie, Shah Alam ("Target Property"). RM2.00 million is allocated for the renovation of the Target Property. RM0.73 million of the proceeds will be used for working capital purposes while the remaining RM4.00 million is allocated for listing expenses.

Independent Non-Executive Chairwoman of KGW, Yang Mulia Tengku Faizwa Binti Tengku Razif said, "I would like to thank the entire KGW team and the IPO DDWG team for their hard work and diligence in bringing the Group to today's listing. On behalf of KGW, we would also like to extend our appreciation to customers, business partners and suppliers who have supported us over the years."

Managing Director of KGW, Dato' Roger Wong said, "This is a significant milestone for the Group and evidence of how far we have come as a business to be a leading provider of logistics services in Malaysia. Through this listing, we have not only cemented our success, but we will continue to build on what we have to bring more value to our stakeholders."

According to the independent market research report in the KGW's prospectus, the Group generated revenue of RM228.0 million from its involvement in the Malaysian logistics industry, equivalent to 0.37% share of the total market size (GDP) of the logistics industry in Malaysia of RM62.20 billion in 2022.

The report noted that the Malaysian logistics industry is projected to reach RM66.25 billion in 2023 and grow to RM87.57 billion in 2027, expanding at a CAGR of 7.1% for the forecast period. In particular, the warehouse and storage market in Malaysia is forecast to reach RM2.58 billion in 2023 and expand at a CAGR of 8.2% to RM3.59 billion in 2027.

TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO while Eco Asia Capital Advisory Sdn Bhd is the Financial Adviser for the IPO.

KGW Group Bhd: https://www.kgwlogistics.com/

Images
Caption (L-R):
Ms. Kelly Neng, Director of Eco Asia Capital Advisory Sdn Bhd
Mr. Kelvin Khoo, Managing Director of Eco Asia Capital Advisory Sdn Bhd
Datuk Hamzah Bin Mohd Tahir, Executive Director of Dealing of TA Securities Holdings Berhad
Mr. Lean Sze Yau, Independent Non-Executive Director of KGW Group Berhad
Dato' Roger Wong, Managing Director of KGW Group Berhad
Tengku Faizwa Binti Tengku Razif, Independent Non-Executive Chairwoman of KGW Group Berhad
Ms. Lim Joo Seng, Independent Non-Executive Director of KGW Group Berhad
Ms. Lee Li Choon, Independent Non-Executive Director of KGW Group Berhad
Ms. Cheok Hui Yen, Executive Director/ Chief Operating Officer of KGW Group BerhadMr. Ku Mun Fung, Head of Corporate Finance of TA Securities Holdings Berhad
( https://photos.acnnewswire.com/tr:n-650/20230801.KGW1.jpg )

Caption (L-R):
Dato' Roger Wong, Managing Director of KGW Group Berhad
Tengku Faizwa Binti Tengku Razif, Independent Non-Executive Chairwoman of KGW Group Berhad
Ms. Lim Joo Seng, Independent Non-Executive Director of KGW Group Berhad
Ms. Cheok Hui Yen, Executive Director/ Chief Operating Officer of KGW Group BerhadMs. Lee Li Choon, Independent Non-Executive Director of KGW Group Berhad
Mr. Lean Sze Yau, Independent Non-Executive Director of KGW Group Berhad
( https://photos.acnnewswire.com/tr:n-650/20230801.KGW2.jpg )

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

New Premium Application Centre for UK Student Visas Opens at Sunway Resort Hotel in Selangor

KUALA LUMPUR, MALAYSIA, Aug 1, 2023 – (ACN Newswire) – VFS Global, the world's largest outsourcing and technology services specialist for governments and diplomatic missions, entered into a strategic partnership with the Sunway Resort Hotel in Selangor, Malaysia. Through this alliance, VFS Global aims to offer UK student visa services through its UK Premium Application Centre at the Sunway Resort Hotel in Selangor.

UK student visa customers can now book appointments at the Premium Application Centre to submit their applications and enrol biometrics. This partnership will provide customers residing in and around Selangor with a new location option in addition to the existing free-to-use Visa Application Centres located in Jalan Ampang, Kuala Lumpur.

This is a premium location for customers wishing to apply for their visa in the ambience and comfort of a 5-star hotel. There is a fee of MYR 250 to apply at this location, which includes courier and SMS updates. The fee for this service must be paid online while booking your appointment, before attending the Visa Application Centre.

Jeanne Chan, Director of Commercial, Sunway Resort Hotel, said, "We are delighted to partner with VFS Global for a strategic initiative that offers convenience to UK student visa applicants at our hotel. Through the opening of this new visa centre, we look forward to extending the warm hospitality and exceptional services of the Sunway Resort Hotel and providing customers with convenient access to plan their international travel."

Kaushik Ghosh, Head ? Australasia, VFS Global, said, "The partnership with the Sunway Resort Hotel in Selangor provides additional and conveniently located touchpoints to our customers. UK student visa customers will continue to enjoy the same comfort, convenience, and best-in-class services at this new location that they do at our Visa Application Centres, as well as experience the comfort and hospitality offered by the Sunway Resort Hotel."

VFS Global has enjoyed a long-standing relation with UK Visas and Immigration (UKVI) in Malaysia since 2004, offering UK visa services through centres in Kuala Lumpur.

For more information, please visit https://visa.vfsglobal.com/mys/en/gbr.

Student visa applications from Malaysia in 2022 rebounded to pre-pandemic levels, reiterating early recovery in international travel. According to VFS Global, student visa application in 2022 were 4% higher than the volumes in 2019. Applications were 38% higher in comparison to 2021 as many international borders were closed with pandemic-induced travel restrictions and international university campuses operated hybrid schedules.

More than 7,220 Malaysian nationals were issued a Student visa to study in the UK in 2022 (www.gov.uk/government/statistics/immigration-system-statistics-year-ending-december-2022), just shy of pre-pandemic numbers in 2019. Given the travel restrictions in 2020 and 2021, the number of visas issued in this category in 2022 rose by 3,000 and 500, respectively.

About VFS Global

VFS Global is the world's largest outsourcing and technology services specialist for governments and diplomatic missions. VFS Global is the trusted partner of 68 client governments, operating a global network with more than 3,300 Application Centres in 145 countries. The company has processed over 264 million applications since its inception in 2001. The company manages non-judgmental and administrative tasks related to applications for visa, passport, and consular services for its client governments, enabling them to focus entirely on the critical assessment task. VFS Global has its headquarters in Zurich/Switzerland and Dubai/United Arab Emirates.

VFS Global is majority-owned by funds managed by Blackstone, the world's largest alternative asset manager. Blackstone seeks to create positive economic impact and long-term value for their investors, the companies in which they invest, and the communities in which they work. Blackstone's USD 991 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds, all on a global basis.

The Swiss-based Kuoni and Hugentobler Foundation and EQT, a global investment organisation, headquartered in Stockholm/Sweden, hold minority stakes in VFS Global.

Media Contact
PRecious Communications
Sharifah Nurafiqah Jamalaulil
+6013 221 7269
sharifah@preciouscomms.com

Abdul Azim
+60106539949
azim@preciouscomms.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Signing Contracts for US$49.3M, PIS (Pertamina) Now Sails across 26 International Routes

DUBAI, Jul 31, 2023 – (ACN Newswire) – PT Pertamina International Shipping (PIS), through its branch office in Dubai, PIS Middle East (PIS ME), has achieved another success by simultaneously signing four business cooperation agreements with global players.

PIS Pte Ltd (DMCC Branch) – PIS Middle East has signed business cooperation agreements with global players, namely with Gas Walio, Gas Widuri, Gas Arjuna and Gas Ambalat, for 4 vessels owned by PIS.

Erwin Paulian Sihombing, Commercial, PIS Pte Ltd (DMCC Branch) – PIS ME; Ugo Romano, Managing Director, Scorpio MENA DMCC (Neptune Pool); Andra Otmansyah Pelawi, Country Manager & Middle East Representative, PIS Pte Ltd (DMCC Branch) – PIS ME [L-R]

PIS ME signed the deals for 4 vessels owned by PIS – namely the Gas Walio vessel, Gas Widuri vessel, Gas Arjuna and Gas Ambalat vessels. The Gas Arjuna and Ambalat vessels are chartered by SHV Gas Supply & Risk Management, the Gas Walio vessel is chartered by Geogas Trading S.A, and the Gas Widuri vessel is chartered by Vitol S.A.

"The signing of this cooperation signifies the success of PIS ME's aggressiveness in increasing revenue in the international market, as well as proving the reliability of PIS's fleet which is qualified to sail in global scale waters," said PIS CEO Yoki Firnandi at the signing ceremony on Tuesday, July 25.

The total transaction value for the four ship deal reached US$49.34 million, or the equivalent to Rp740.15 billion (dollar exchange rate of Rp15,000) with different contract durations ranging from 6 months to 3 years. The contracts also provided for new international routes and countries for the PIS fleet, including Chile (South America), Puerto Rico (USA), Dominican Republic (Caribbean), Tanzania, Poland, and Portugal.

Country Manager of PIS ME Andra Pelawi added that in addition to the successful commercialization of the four vessels, PIS ME has broken new business ground which will add to the company's revenue potential. "Pertamina has, through PIS ME, entered Tankers International Pool, and a TC Syndication scheme with Scorpio for a Neptune VLGC vessel in the pool. PIS will have the potential for vessel rental at international market rates," he said.

Through this breakthrough scheme by PIS, carried out initially during the second quarter of 2023 (since the VLGC vessel entered the pool in early May, through to the end of the quarter), PIS ME managed to realize a profit of around US$865 thousand, or the equivalent to Rp12.97 billion (dollar exchange rate of Rp15,000).

About PT Pertamina International Shipping (PIS) Pte Ltd

PT Pertamina International Shipping (PIS) as an Integrated Marine Logistics Subholding, has a total of 750 ships. Besides the owned ships, PIS also manages time charter and spot charter that can be rented through e-chartering. PIS ME is the second representative branch office of PIS located abroad, being established December 23, 2022. See https://pertamina-pis.com/.

Media Contact:
Muh. Aryomekka Firdaus
Corporate Secretary
M: +62 0811-872-272
E: aryomekka@pertamina.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Hong Kong delegation to ASEAN pushes collaboration into top gear

KUALA LUMPUR, Jul 28, 2023 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC)-organised delegation, led by Hong Kong Special Administrative Region (HKSAR) Chief Executive Mr John Lee and accompanied by Principal Officials, today concluded a week-long visit to Singapore, Indonesia and Malaysia. Delegates and representatives of the three Association of Southeast Asian Nations markets signed more than 30 memorandums of understanding signalling closer cooperation based on a shared vision of prosperity and development in Asia.

Dr Peter K N Lam, HKTDC Chairman addresses Malaysia-Hong Kong: Partnering for Success. The event,
hosted by the HKTDC today, drew significant pledges to foster deeper economic and cultural links
between Hong Kong and Malaysia

During the visit to Singapore, the Hong Kong delegation visited Meinhardt Group to learn about their
latest developments in technology application, sustainable development, and green finance

Dr Peter K N Lam (4th L), HKTDC Chairman, concluded the ASEAN trip of the Hong Kong delegation
in Kuala Lumpur, expressing that the visit had been highly fruitful.

More than 30 senior executives from Hong Kong's leading chambers, organisations, enterprises and conglomerates joined the delegation to strengthen ties, expand networks and discuss collaboration opportunities riding on new policies in Hong Kong to attract investment and talent, as well as the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the Belt and Road Initiative and new cooperation agreements such as the Regional Comprehensive Economic Partnership (RCEP).

Dr Peter K N Lam, Chairman of the HKTDC, said: "The objective of our mission is to introduce Hong Kong's latest developments and new policies to attract businesses and talent, as well as the opportunities arising from the GBA, the Belt and Road Initiative, which celebrates the 10th anniversary this year, and cooperation agreements such as RCEP. We aim to help Hong Kong businesses expand into markets, as well as attract more ASEAN companies to set up offices in Hong Kong, and to collaborate with Hong Kong and Mainland Chinese companies based in Hong Kong to expand into the GBA, Mainland China and other overseas markets. At the same time, enterprises from ASEAN markets can expand and find new opportunities by leveraging the Hong Kong platform."

Dr Lam said the more than 30 MoUs signed between enterprises and organisations of Hong Kong and Singapore, Indonesia and Malaysia paved the way for deeper and broader collaboration in the future.

"During our visits, we had the opportunity to exchange ideas with leading enterprises and the Chinese ambassadors, gaining a deeper understanding of future developments and local government policies. I hope our delegates can share their insights with the Hong Kong business community to help to open up new opportunities for businesses large and small," he added.

Since 1966, the HKTDC has created business opportunities between Hong Kong and the world, promoting Hong Kong as an international business and financial hub and gateway to China through outreach such as organising delegations, international trade fairs and industry conferences, as well as enabling small and medium-sized enterprises and start-ups.

7 MOUs were signed at the business dinner in Singapore: (https://bit.ly/43Ta02c)
– HKTDC and Singapore Business Federation (SBF)
– InvestHK and Blockchain Association Singapore (BAS)
– Hong Kong Science & Technology Group (HKSTP) and Global Entrepreneurship Network (GEN)
– CCB International (Holdings) Ltd and Mirxes Holding Company Limited
– HSBC and Keppel
– City University of Hong Kong and National University of Singapore (NUS)
– Xgate and Singapore Retailers Association (SRA)

15 MOUs and SPA (share purchase agreements) were signed at the business luncheon in Jakarta: (https://bit.ly/4557err)
– HKTDC and Indonesian Ministry of Trade
– HKTDC and Indonesian Ministry of Industry
– HKTDC and KADIN
– InvestHK and KADIN
– Hong Kong Observatory and The Agency for Meteorology, Climatology, and
– Geophysics of the Republic of Indonesia (BMKG)
– HKEX and Indonesia Stock Exchange (IDX)
– [SPA] Value Partners Group and STAR Asset Management
– BOC International Holding Ltd, BOC HK Jakarta Branch and Tsingshan Industry
– BOC International Holding Ltd, BOC HK Jakarta Branch and J&T Jitu Express
– Chinese Asset Management Association of Hong Kong (HKCAMA) and Indonesia Asset
– Management Association
– CCB International (Holdings) Ltd and J&T Jitu Express
– Hong Kong Aerospace Technology Group and Bakrie & Brothers
– HSBC and Hutchison Ports Indonesia
– Media Asia Group Holdings Limited and MNC Media & Entertainment
– Templewater Limited and China International Marine Containers (Group) Ltd. (CIMC)
– and Eternal Tsingshan Group Ltd

11 MOUs were signed at the business luncheon in Kuala Lumpur: (https://bit.ly/3DyZfaw)
– HKTDC and MATRADE
– HKTDC and NCCIM
– MTR Corporation Limited and Mass Rapid Transit Corporation Sdn. Bhd. (MRT)
– Federation of Hong Kong Industries and Federation of Malaysian Manufacturers
– FWD Group Holdings Limited (FWD Group) and FWD Insurance Berhad (FWD Insurance)
– HSBC and Gobi Partners
– WeLab Group and HSBC
– City University of Hong Kong and Malaysia Digital Economy Corporation
– A&A (Digital business consulting) Limited and MyTOWN Shopping Centre
– Shangri-La International Hotel Management Pte Ltd and Far East Group
– CCB International (Holdings) Ltd x AFFIN

Photo Download: http://bit.ly/3O4lf1y

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
Strategic Public Relations Sdn Bhd
Mandy Tan, Tel: +60 16-477 2256, Email: mandy.tan@sprg.com.my
Kevin Tan, Tel: +60 12-700 1666, Email: Kevin.tan@sprg.com.my

HKTDC's Communication & Public Affairs Department:
Snowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Sarawak Consolidated Commences Legal Action against Dynamic Prestige Consultancy

KUCHING, MALAYSIA, Jul 27, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that it has initiated legal proceedings against Dynamic Prestige Consultancy Sdn. Bhd from an unfulfilled refund of RM14,000,000.00.

Ku Chong Hong, Managing Director of SCIB

The sum was an initial payment in anticipation of a strategic business partnership in the Engineering, Procurement, Construction and Commissioning (EPCC) sector. As part of the agreement, Dynamic Prestige Consultancy Sdn. Bhd. was to propose a Redeemable Convertible Preference Shares (RCPS) scheme in their company. SCIB, having decided not to proceed with the RCPS, has sought the agreed refund. However, to date, Dynamic Prestige Consultancy Sdn. Bhd. ("Dynamic Prestige") has failed to honour this agreement.

In response to the ongoing litigation, Mr. Ku Chong Hong, Group Managing Director of SCIB, stated, "The initiation of this legal action is a necessary step to protect our company's interests and uphold our financial integrity. We have always operated with full adherence to our contractual obligations and expect the same level of commitment from our partners. We remain confident in our legal position and are committed to ensuring the best outcome for our shareholders and stakeholders."

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Hong Kong delegation strengthens business ties with Indonesia

JAKARTA, Jul 26, 2023 – (ACN Newswire) – A Hong Kong business delegation – organised by the Hong Kong Trade Development Council (HKTDC), led by the Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Mr John Lee and accompanied by Principal Officials – was in Jakarta, Indonesia today following a visit to Singapore in the past two days. The 30-strong delegation of business leaders from Hong Kong's major organisations, chambers and enterprises is making a week-long visit to Association of Southeast Asian Nations members to strengthen ties, expand networks and discuss collaboration riding on new policies in Hong Kong to attract investment and talent, as well as the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the Belt and Road Initiative and new cooperation agreements such as RCEP (Regional Comprehensive Economic Partnership). Multiple MOUs were signed in Singapore (seven) and Indonesia (16), covering finance, trade, technology and cultural exchange.

Dr Sunny Chai, Chairman, Federation of Hong Kong Industries, Mr Nicholas Aguzin, Chief Executive,
HKEX; Dr Peter K N Lam, Chairman, HKTDC; Mr John Lee, Chief Executive of the HKSAR;
Mr Horace Cheung, Deputy Secretary of Justice; Mr Christopher Hui, Secretary for Financial Services
and the Treasury; Mr Algernon Yau, Secretary for Commerce and Economic Development [L-R]

Delegates visited major enterprises, met officials to understand Indonesia's development, and held a networking lunch with the local business community themed Indonesia-Hong Kong, Partnering for Success, hosted by the HKTDC.

At a press conference before the luncheon Mr Lee said: "ASEAN is Hong Kong's second-largest trading partner globally. Among ASEAN states, Indonesia is the largest nation. We are here to consolidate our friendship with Indonesia and other ASEAN states. We wish to strengthen our long-standing co-operation for mutual growth. More importantly, we wish to tell our friends here the good and latest stories of Hong Kong."

Mr Lee was accompanied by Deputy Financial Secretary Mr Michael Wong, Secretary for Financial Services and the Treasury Mr Christopher Hui and Secretary for Commerce and Economic and Development Mr Algernon Yau.

HKTDC Chairman Dr Peter K N Lam, HKEX Chief Executive Mr Nicholas Aguzin and Federation of Hong Kong Industries Chairman Mr Sunny Chai, representing various sectors in Hong Kong, shared their insights on business development of Hong Kong and Indonesia at the press conference.

During the luncheon speech, the Deputy Minister of Trade of the Republic of Indonesia Jerry Sambuaga expressed gratitude for the visit. He believed the exchange would benefit both parties and said: "Hong Kong is an important trading partner for Indonesia and I am optimistic that the Indonesia-Hong Kong relationship will grow stronger and be mutually beneficial."

On the same occasion HKTDC Chairman Dr Peter K N Lam said: "As an international business hub and a two-way platform between Mainland China and the world, Hong Kong is the perfect partner for Indonesian companies to tap into the Chinese market or to go global. As the Belt and Road Initiative enters its 10th year, we can work together to capitalise on the opportunities from a new phase of cooperation and sustainable development along the Belt and Road. HKTDC values the close ties between Hong Kong and Indonesia built up over years. Together, we have woven a story of mutual growth and prosperity. As we look to the future, we envision a stronger, deeper partnership between us."

During the two days in Indonesia, the delegation met representatives of key enterprises such as the Lippo Group and CT Corporation, and will also visit the Jakarta-Bandung High-Speed Railway which is an example of collaboration between Indonesia and Mainland China.

The delegation will move on to visit Malaysia over the next few days.

Since 1966, the HKTDC has created business opportunities between Hong Kong and the world, promoting Hong Kong as an international business and financial hub and gateway to China through outreach such as organising delegations, international trade fairs and industry conferences, as well as enabling small and medium-sized enterprises and start-ups.

7 MOUs were signed at the business dinner in Singapore:
– HKTDC and Singapore Business Federation (SBF)
– InvestHK and Blockchain Association Singapore (BAS)
– Hong Kong Science & Technology Group (HKSTP) and Global Entrepreneurship Network (GEN)
– CCB International (Holdings) Ltd and Mirxes Holding Company Limited
– HSBC and Keppel
– City University of Hong Kong and National University of Singapore (NUS)
– Xgate and Singapore Retailers Association (SRA)

16 MOUs were signed at the business luncheon in Jakarta:
– HKTDC and Indonesian Ministry of Trade
– HKTDC and Indonesian Ministry of Industry
– HKTDC and Indonesian Ministry of Tourism and Creative Economy
– HKTDC and KADIN
– InvestHK and KADIN
– Hong Kong Observatory and The Agency for Meteorology, Climatology, and Geophysics of the Republic of Indonesia (BMKG)
– HKEX and Indonesia Stock Exchange (IDX)
– Value Partners Group and STAR Asset Management
– BOC International Holding Ltd and Tsingshan Industry, and BOC HK Jakarta Branch
– BOC International Holding Ltd and J&T Jitu Express, and BOC HK Jakarta Branch
– Chinese Asset Management Association of Hong Kong (HKCAMA) and Indonesia Asset Management Association
– CCB International (Holdings) Ltd and J&T Jitu Express
– Hong Kong Aerospace Technology Group and Bakrie & Brothers
– HSBC and Hutchison Ports Indonesia
– Media Asia Group Holdings Limited and MNC Media & Entertainment
– Templewater Limited and China International Marine Containers (Group) Ltd. (CIMC) and Eternal Tsingshan Group Ltd.

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

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
HKTDC's Communication & Public Affairs Department:
Snowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Nearly 1 million visitors flock to Hong Kong Book Fair

HONG KONG, Jul 25, 2023 – (ACN Newswire) – The 33rd HKTDC Hong Kong Book Fair, 6th Sports and Leisure Expo, and 3rd World of Snacks, all organised by the Hong Kong Trade Development Council (HKTDC), drew to a successful close today. The seven-day event attracted nearly one million visitors, of which 10% were tourists. Book Fair visitors spent an average of HK$872 (US$112) per person. Close to 780 exhibitors from 36 countries and regions participated in the three events, offering the public a diverse and extraordinary summer experience.

The 33rd HKTDC Hong Kong Book Fair, 6th Sports and Leisure Expo, and 3rd World of Snacks
drew nearly one million visitors in total

Sophia Chong, Acting Executive Director of the HKTDC, said: "We are thrilled to announce the resounding success of this year's Hong Kong Book Fair, Sports and Leisure Expo, and World of Snacks. The full reopening of Hong Kong has resulted in a surge in participation from citizens and tourists alike, with numerous mainland and overseas authors and exhibitors attending in person. The government's distribution of consumption vouchers has also fueled citizens' eagerness to spend at the three exhibitions, contributing to the vibrant and lively ambience of the events. This year's Book Fair, with its focus on Children's and Young Adult Literature, has staged a diverse range of cultural activities and seminars. Thanks to the sponsorship of Create Hong Kong* (CreateHK) of the Government of the HKSAR, we have established a brand new World of Art & Culture zone, with the aim of introducing literature and cultural arts from all over the world to a broad reader base. Our ultimate goal is to promote a city-wide reading culture and position Hong Kong as an East-meets-West centre for international cultural exchange."

Fiction, comics, travel, children's books and literature most popular genres

Over 800 visitors were interviewed by a research institute commissioned by the HKTDC to glean insights into their reading and spending habits. Respondents spent an average HK$872 at the fair this year, the survey showed. Remarkably, this comprised 70% of their HK$1,254 average annual expenditure on printed books. These findings underscore the Book Fair's pivotal role as a platform for book enthusiasts to acquire their beloved reads.

The survey also shed light on respondents' reading habits, revealing that an overwhelming 96% had read printed books within the past month, with an average reading time of 16 hours. Fiction emerged as the most popular book category, with 52% of respondents indicating their interest, followed by comics (26%), travel (20%), children's and young-adult books (20%), and literature (19%). The categories of self-improvement, enrichment, art and music, and inspirational books also garnered significant interest. E-books were also popular, with 65% of respondents having read e-books within the past month, averaging nine hours of reading time during that period. Most respondents (59%) visited the Book Fair to buy new books, while 49% enjoyed discounts offered at the fair. Additionally, 25% joined the diverse cultural activities, with 18% intending to buy children's books.

Cultural July events continue with fair highlights available for viewing

The fair featured more than 600 seminars and cultural events held both onsite and offsite, including the Eight Seminar Series. Running in parallel the Cultural July: Joyful Summer Reading campaign, held across Hong Kong, drew more than 350,000 participants.

Recordings of selected seminars are available online. Readers can revisit them through the Book Fair website or the HKTDC's Youtube channel. This year's Book Fair has concluded but Cultural July continues until 31 July, with a range of sharing sessions, talks and book launches in all 18 districts of Hong Kong. Details can be found on the Cultural July website – http://www.hkbookfair.hktdc.com/CulturalJuly

The Cultural Journey Online is also available on the Book Fair website, gathering e-reading resources and activities like virtual seminars and exhibitions from our partners which include: SHKP Reading Club's Read For More, Hong Kong Public libraries, Culture is…, Google Arts & Culture, encouraging citizens to expand their horizons and promoting a reading culture.

Sports and Leisure Expo and World of Snacks well received

Offering a wide selection of sports and leisure products and services, along with more than 1,200 tasty treats and snacks, the Hong Kong Sports and Leisure Expo and World of Snacks are also concluded today. The former featured free trials and interactive experiences while the latter offered visitors delicacies from around the world, along with workshops, activities and tasting sessions. Both events were enthusiastically received.

The three events launched the series of HKTDC exhibitions in the second-half of this year. In the coming months, the HKTDC will continue to host a diverse range of large-scale exhibitions to support and strengthen Hong Kong's economy across different sectors. Next month, visitors can expect to enjoy the Food Expo, Food Expo Pro, Home Delights Expo, Beauty & Wellness Expo, and Hong Kong International Tea Fair. September will bring CENTRESTAGE and Hong Kong Watch & Clock Fair, as well as the Belt and Road Summit, while October is set to feature the Hong Kong International Lighting Fair (Autumn Edition), Hong Kong Electronics Fair (Autumn Edition), and Eco Expo Asia. In November, the HKTDC will host the Hong Kong International Wine and Spirits Fair, Hong Kong International Optical Fair, and Asian Logistics, Maritime and Aviation Conference. Finally, December will feature the Business of IP Asia Forum and Chill 11.

*Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, Create Hong Kong, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.

Photo Download: https://bit.ly/3DrR5AI
Book Fair video playlist: https://bit.ly/3Q580Ay

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
Should members of the press have any enquiries, please contact:

Hong Kong Book Fair
Yuan Tung Financial Relations:
Anson Wong, Tel: +852 3428 3413, Email: awong@yuantung.com.hk
Salina Cheng, Tel: +852 3428 5691, Email: salcheng@yuantung.com.hk
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk

HKTDC's Communications & Public Affairs Department:
Katy Wong, Tel: +852 2584 4524, Email: katy.ky.wong@hktdc.org
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

Hong Kong Sports and Leisure Expo, World of Snacks
HKTDC's Communications & Public Affairs Department:
Kate Chan, Tel: +852 2584 4239, Email: kate.hy.chan@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Apollo Funds Upsize Its Capital Commitment to Global Schools Group

SINGAPORE, Jul 25, 2023 – (ACN Newswire) – Global Schools Foundation's investment arm and its related entities ("Global Schools Group", "GSG") announced that funds managed by affiliates of Apollo Global Management, Inc. have committed to providing approximately S$190 million, nearly doubling their total capital commitment to the Global Schools Group. Apollo funds initially provided long-term funding to Global Schools Group in 2021.

This additional commitment will enable GSG to ramp up its investments over US$650 million and to complete initial transactions in the European and UK markets, whilst consolidating its existing presence in Asia and the Middle East. The Company's expectation is to further deploy US$1.5 to 2 billion over the next few years, accelerating its global expansion through merger and acquisition of leading, super-premium, and Ivy League K12 schools.

In the past three years, GSG has completed over 25 acquisitions, adding over 20,000 students across Asia and the Middle East. Recent transactions include 100% acquisition of Dwight School Seoul, South Korea (Press Release); Glendale Academy Hyderabad, India (Press Release); Silveroaks International School, Bangalore, India (Press Release); Regent International Schools, Malaysia (Press Release); CISM, Philippines (Press Release); Harrods International Academy, Cambodia (Press Release); and Vikaasa Schools, Madurai, India (Press Release).

In 2021, GSG was recognised as the "World's Most Awarded Network of Schools" by the UK-based World Book of Records, having received over 500 awards for Innovation, Green Initiatives and Business Excellence. GSG's strengths lie in using proprietary learning technology, incorporating data analytics and artificial intelligence into students' learning outcomes. Schools on GSG's platform can expect to benefit from its key learning technologies and innovation capabilities to enhance market position and product development.

A portion of the capital is committed to The Global Village in Singapore, a 600,000 sqft of built-to-suit futuristic educational space accommodating two international schools – Global Indian International School and One World International School. The development is designed to satisfy 21st-century needs and knowledge trends through the use of data analytics in learning and sports facilities. National Geographic featured one of the campuses as a School of the Future.

Atul Temurnikar, GSF Chairman, said, "GSF aspires to become one of the top five leading K12 platforms in the world. Apollo's Hybrid Value business was a perfect capital solution for our long-term needs."

Matthew Michelini, Partner & Head of Apollo Asia Pacific, said he was "pleased to share that funds within Apollo's Hybrid Value strategy have committed to upsize their existing investment in Singapore-based education company Global Schools Group to help accelerate the company's global expansion."

"We are delighted to upsize our investment in Global Schools Group," said Apollo Partner Mr Gaurav Pant. "GSG has shown tremendous leadership and vision in executing an Asia-led global education platform."

Founded in 2002, Global Schools Foundation is a Singapore-headquartered, community-oriented education institution whose mission is to nurture young minds into global leaders. The Foundation now has 40,000 students across 40 campuses in 11 countries in the UK, Asia and the Middle East.

Contact Information
Rupali Karekar
Divisional Manager
rupali.karekar@myglobalschool.org
+6598734320

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

OSIM Unveils South Korean Actor Hyun Bin as Ambassador for Next Generation uDream Pro Well-Being Chair

MALAYSIA, Jul 24, 2023 – (ACN Newswire) – OSIM, the leading innovator of Wellness Tech products and solutions, has unveiled South Korean actor Hyun Bin as its ambassador for the next generation flagship product – the uDream Pro well-being chair. Imbued with the latest Wellness Tech innovations and designed as a sophisticated style statement, the next generation uDream Pro is the latest articulation of OSIM's best in class well-being solutions.

OSIM solutions span the health, fitness, beauty and gaming sectors and are all designed to enable customers to feel good, stress less, sleep better and live heathier and happier lives. The acclaimed actor is partnering OSIM as the company continues to expand its ecosystem of Wellness Tech solutions.

Ms Chia Sook Fun, General Manager of OSIM Malaysia said, "We are delighted to welcome Hyun Bin as our ambassador. His dedication to his craft and commitment to excellence resonate strongly with our mission to inspire and improve the world's well-being."

OSIM has sought out and partnered with like-minded global brand partners and artistes based on shared values such as innovation and creative excellence – exemplified by this latest partnership with Hyun Bin.

Hyun Bin said, "A perfect day to me is one that strikes a good balance between work and rest. With OSIM's uDream Pro, I am able to enjoy personalized massage techniques with a single touch through artificial intelligence (AI) analysis and relax while stabilizing the various senses of my body with the '5-Senses Experience'. It is a technology that provides suitable management for the condition of each day and helps to lead a healthy daily life."

Focus On Continuing Innovation for The Next Generation Well-being Chair

In its ongoing mission to introduce new innovations to consumers around the world, OSIM has pioneered the use of leading-edge Wellness Tech in its ecosystem of solutions. This move has successfully elevated the traditional massage chair to a new standard in well-being chairs.

Better than a massage chair, the uDream Pro is the world's first well-being chair to incorporate AI in the measuring, monitoring, and managing of stress and fatigue for users. It also features an industry-first innovation designed to enhance an immersive stress relief experience. With just one touch of a button, users are transported to one of three different paradise experiences – Aurora Night, Sunset Beach or Nature Bliss. Senses are awakened through guided massage programs synchronized with relaxing imagery, soothing voice guidance, enchanting music and mood-enhancing ambient lighting. Users can also opt to engage their olfactory sense by using the DreamScent Aroma Pods to complete the five-senses stress relief experience.

Seamlessly weaving OSIM's latest innovations such as AI features with elegantly executed design motifs inspired by nature, the uDream Pro is artfully created with technology and design excellence. It is also integrated with the OSIM Well-Being App to provide users with a total well-being experience that can be measured, monitored and managed in the comfort of their homes.

OSIM Wellness Tech Deploys AI to Deliver Truly Customised De-Stress Programmes

With 14 patented features that combine to create a unique OSIM stress relief experience that cannot be replicated, the uDream Pro harnesses best-in-class technology from OSIM's own R&D labs to address the harmful effects of long-term stress on the human body.

Collaborating with internationally renowned professionals such as cardiothoracic surgeon Dr Thomas Burdon from Stanford University and Japanese chiropractic massage expert Sato Tsuyoshi-san, the uDream Pro uses electrocardiogram technology to accurately measure stress signals of the body, as well as deploys AI-powered biometric algorithms to determine body tension scores. These signals and scores are then analysed to deliver individually customised stress relief programmes that are effective.

Data From uDream Pro Users Indicates Improved Mental And Physical Health

Anonymised body tension scores collected from uDream Pro users before and after each well-being session show a general decline in tension felt[1]. The scores revealed that:

– 78.72% (about 8 in 10 users) experienced an immediate reduction in short-term stress and improved state-of-mind after one use; and
– 87.23% (about 9 in 10 users) experienced a decline in long-term stress and improved overall mental and physical health with repeated use over a period of 6 months.

Hyun Bin Embodies The uDream Pro Vision Of Sophisticated Wellness Technology

A respected, award-winning actor in the entertainment industry and a household name, Hyun Bin is among the most influential actors in South Korea and has captivated audiences with his striking onscreen presence and versatile range of performances. His career spans more than two decades and includes leading roles in internationally popular dramas such as Crash Landing On You and Memories of the Alhambra as well as movies such as Confidential Assignment and The Negotiation.

Hyun Bin shares more about his philosophy to work-life balance and overall well-being in an exclusive OSIM video feature on Youtube.

The new generation OSIM uDream Pro retails in Malaysia at a promotional price from RM436.47 per month with zero interest instalments up to 60 months and it is available at osim.com.my and at all OSIM stores. Visit OSIM stores now to enjoy an extraordinary wellness experience.

OSIM https://www.osim.com.my/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com