Avantor Inaugurates Expanded Singapore Hub

One-Stop Facility with cGMP Manufacturing to Bolster AMEA’s Biopharma Industry

SINGAPORE, July 11, 2023 – (ACN Newswire) – Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies, and applied materials industries, today inaugurated its expanded Singapore Hub which includes newly added cGMP manufacturing and a world class quality control laboratory. The hub is a one-stop facility serving the needs of customers across Asia, Middle East, and Africa (AMEA), strengthening the region’s innovation and biopharma ecosystems.

Avantor today officially inaugurated its expanded Singapore Manufacturing & Distribution Hub. Standing from left to right: Christophe Couturier (EVP, Asia Middle East Africa, Avantor), Elaine Teo (SVP & Head, Investment Facilitation, Singapore EDB) and Narayana Rao Rapolu (VP, Biopharma, Asia Middle East Africa, Avantor).

*Avantor’s expanded Singapore Hub to bolster Asia Pacific’s Biopharma ecosystem with enhanced manufacturing and distribution.*

Strategically located in Singapore, the hub enables quicker turnaround times and expedites customers’ access to raw materials that are essential in AMEA’s drug discovery and development whilst upholding stringent quality standards.

“At Avantor, we recognize the growing complexities around customer requirements and regulatory standards across AMEA’s biopharma industry,” said Christophe Couturier, Executive Vice President, AMEA. “By enhancing our regional capabilities through the launch of our Singapore Manufacturing and Distribution Hub, we tap into our legacy of serving the evolving needs of customers, demonstrating our commitment to advancing life-changing science.”

The inauguration ceremony today was officiated by Avantor executives, Christophe Couturier, and Narayana Rao, Vice President, Biopharma – AMEA, and the Singapore Economic Development Board (EDB), represented by Elaine Teo, Senior Vice President and Head, Investment Facilitation at EDB.

“Avantor’s latest expansion of its Singapore hub enhances the supply of key materials and services required by biopharma manufacturers in Singapore and the region. This strengthens supply chain resilience for businesses and enhances the competitiveness of Singapore’s biomedical sciences industry, an integral part of Singapore’s manufacturing sector. Avantor’s successive investments in Singapore demonstrate confidence in our manufacturing and supply chain capabilities. These expansions are in line with EDB’s commitment to work with businesses to deepen their footprint and create new job opportunities in Singapore,” said Elaine Teo, Senior Vice President, EDB.

Building onto Avantor’s 2022 investment, the integration of the current distribution hub with new manufacturing operations features cGMP suites, quality testing, warehousing of certified products, batch-to-batch traceability and customized palletization capabilities. These state-of-the-art facilities allow the hub to drive innovation and efficiency to address the immediate challenges in AMEA’s biopharma industry.

About Avantor

Avantor^®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our portfolio is used in virtually every stage of the most important research, development and production activities in the industries we serve. Our global footprint enables us to serve more than 300,000 customer locations and gives us extensive access to research laboratories and scientists in more than 180 countries. We set science in motion to create a better world. For more information, visit avantorsciences.com and find us on LinkedIn, Twitter and Facebook.

Regional Media Contact
Christina Koh
Director – Communications AMEA
Avantor
65-9720 0169
Christina.Koh@avantorsciences.com

RHTLaw Asia Expands Debt Recovery Expertise with New Partner Addition

SINGAPORE, Jul 11, 2023 – (ACN Newswire) – RHTLaw Asia, a regional law firm headquartered in Singapore, has appointed Mr Vernon Voon as Partner to oversee the firm's debt recovery portfolio.

Vernon brings extensive experience and expertise in assisting clients with debt recovery litigation and management. Since 2004, he has honed his skills in this specialised field, successfully handling a wide range of cases involving the recovery of unsecured and secured debts and the resolution of complex payment issues related to debentures, bonds, and other financial facilities.

"With a deep understanding of the complexities involved in debt recovery, I am committed to delivering effective solutions to our clients in their pursuit of debt resolution and recovery. I am excited to collaborate with the talented team at RHTLaw Asia and contribute to the firm's continued success," said Vernon.

Vernon's comprehensive legal background includes appearances before Singapore International Commercial Court, a Singapore High Court division renowned for handling transnational commercial disputes. He has valuable experience in general litigation, advising clients and arguing cases before respected entities like the Strata Titles Board, State Courts, and High Court. He has also aided in cases brought before the Court of Appeal.

RHTLaw Asia Managing Partner, Mr Azman Jaafar, said, "We are very familiar with Vernon, and we are excited to have Vernon back as a Partner leading the debt recovery practice. Vernon will be a valuable asset to our firm's multidisciplinary approach to practice."

About RHTLaw Asia LLP

RHTLaw Asia LLP is a leading regional law firm headquartered in Singapore with a network of offices in over 88 cities across Asia, Oceania, the Middle East and Africa through the ASEAN Plus Group (APG) comprising over 2,000 lawyers. We help clients understand the local challenges, and navigate regional complexities to deliver the competitive advantage for their businesses in Asia. RHTLaw Asia is a member of the Interlex Group, a global network of leading law firms, and HLB, a global network of independent advisory and accounting firms.

RHTLaw Asia is a member of ONERHT, an integrated network of multidisciplinary professional and specialist services which empowers stakeholders to achieve purposeful growth. For more details, please visit www.rhtlawasia.com

For media queries, please contact:
Elliot Siow / elliot.siow@rhtgoc.com / +65 8375 0417

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

Q&M Free Dental Clinic launched to provide free essential dental treatments for underprivileged individuals and families

SINGAPORE, Jul 10, 2023 – (ACN Newswire) – Q&M Free Dental Clinic Limited, a registered charity under the Commission of Charities, has opened its first Q&M Free Dental Clinic in Chai Chee dedicated to delivering essential dental treatment for underprivileged individuals and families in need.

Dr Ng Chin Siau, Group CEO of Q&M Dental Group, Mr Ong Ye Kung, Minister for Health, Mr Tan Chuan
Jin, Speaker of Parliament, Dr Mohanarajah, Chairman of Q&M Free Dental Clinic Limited [L-R]

The opening ceremony at 26 Chai Chee Rd was witnessed by Guest-of-Honour Ong Ye Kung, Minister for Health; and Tan Chuan-Jin, Speaker of Parliament, and Adviser to Marine Parade GRC Grassroots Organisations (Kembangan-Chai Chee).

In its first phase of operations, the free clinic will be staffed by more than 50 volunteer dentists from Q&M Dental Group, on a rotational basis and is expected to serve up to 1,400 patients each year. Eligible patients will be initially referred by grassroots organisations within Kembangan-Chai Chee Division and will receive free dental consultation and treatments that are essential to oral health, such as scaling and polishing, fillings, and extractions.

Mr Tan Chuan-Jin, Speaker of Parliament, and Adviser to Marine Parade GRC Grassroots Organisations (Kembangan-Chai Chee), said, "In Kembangan-Chai Chee, preventive healthcare has been an essential pillar of our social initiatives, besides food security and education. While we have made inroads with health screening, vaccinations, and general health management, we realise that oral health has often been overlooked, especially for our underprivileged residents.

"Hence, the idea of a free dental clinic was mooted over lunch with Dr Ng and I in August 2021 and we are grateful to have Q&M Dental Group partnering with us in this meaningful journey. This initiative is also timely as it fits perfectly into our nationwide Preventive Healthcare Program – Healthier SG," he added.

Dr Ng Chin Siau, Group CEO of Q&M Dental Group said, "With the continued support of our generous donors and volunteer staff, we aim to ramp up the current capacity to serve up to 5,000 patients per year in the free clinic's next phase of operations, in line with our goal to make dental care accessible to all."

Q&M Dental Group led the fundraising efforts to fully equip and set up the free dental clinic, donating S$500,000 to fund the initial costs of renovations and equipment. In total, close to S$1 million was raised together with the support of other key donors including Quan Min Holdings, Straumann, Belmont, Prof Hwang Yee Cheau, Madam Kong Siew Yin, Ng Kok Mee, Navi Corporate Advisory Pte Ltd and Dr Ng Chin Siau, in his personal capacity.

"The generosity of our donors will make a lasting impact on the lives of the underprivileged, providing essential dental care for them and creating a healthier community overall. We look forward to collaborating with other stakeholders to reach out to more patients in need and galvanise the medical community to contribute their expertise and resources to ensure everyone has access to essential healthcare services," added Dr Ng.

Dr Mohanarajah s/o S. Senathirajah, Chairman of Q&M Free Dental Clinic Limited, said, "We are really excited to launch the Q&M Free Dental Clinic knowing that we will make a meaningful contribution in the lives of the underprivileged amongst us. This initiative marks the latest milestone in our longstanding commitment in giving back to society, and what better way than to contribute our professional expertise in a sustained manner to help those in need."

Q&M Dental Group was recently awarded The President's Certificate of Commendation (COVID-19) for its contributions during the pandemic which include Q&M Dental Group volunteers, comprising of dentists and nurses administering swabbing procedures to migrant workers at factory-converted dormitories and government quarantine facilities, donating 200,000 medical grade surgical masks to 51 migrant worker dormitories and setting-up satellite Covid-19 testing facilities throughout its island-wide clinic network.

Q&M Free Dental Clinic
To donate and find out more, please visit: www.qmfdc.sg

Media contacts:
Q&M Dental Group
Jess Chang, jess@qnm.sg, +65 8388 6240
Lloyd Chan, lloydchan@qnm.sg, +65 9385 5702

Waterbrooks Consultants
Wayne Koo, wayne.koo@waterbrooks.com.sg, +65 9338 8166
Elliot Siow, elliot@waterbrooks.com.sg, +65 8375 0417

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

TVS Motor Company and Apollo Tyres set a new 24-hour Indian National Speed Endurance Record on the TVS Apache RR 310; clocks 3,657 kms at an average speed of 152 km/h at NATRAX, Indore

TVS Apache RR 310 fitted with Apollo Alpha H1 tyres broke the previously held record of 3,141 kms in India
The challenge has made its way into the India Book of Records for covering 3657.92 kms in 24-hours, as certified by FMSCI

Singapore, July 5, 2023 – (ACN Newswire) – Dominating racetracks and unleashing its racing DNA, TVS Motor Company, a reputed manufacturer of two and three-wheelers globally, along with India’s leading tyre maker, Apollo Tyres Ltd, set a new Indian National Speed Endurance Record on TVS Apache RR 310 motorcycle shod with Apollo Alpha H1 tyres. As part of the 24-hour speed endurance challenge, a milestone of 3,657.92 kms was achieved at NATRAX, Indore – Asia’s longest highspeed track, as certified by FMSCI.

TVS Apache RR 310, the ultimate track weapon engineered by TVS racing is renowned for its exceptional power and agility. With a top speed of 173 km/hr, and an astounding average speed of 152 km/hr the TVS Apache RR 310 fitted with Apollo Alpha H1 tyres, proved its dominance on the racetrack, solidifying its position as a force to be reckoned with.

Fostering the company’s ‘Track to Road’ philosophy, the TVS Apache series recently achieved a significant milestone of five million global sales, solidifying its reputation as the fastest-growing premium motorcycle and earning the trust and loyalty of customers worldwide.

Commenting on this milestone, Mr. Vimal Sumbly, Head Business – Premium at TVS Motor Company, said, “Setting a new benchmark in speed and endurance, the TVS Apache RR 310 and Apollo Tyres have defied all limits during the 24-hour speed endurance race that put the motorcycle through such a rigorous challenge. This remarkable achievement is a testament to our commitment to innovation and performance. The TVS Apache RR 310’s exceptional performance on the track showcases its cutting-edge technology and unwavering reliability. We couldn’t be prouder of the entire team and the motorcycle’s capabilities, as it continues to push the boundaries of speed and endurance. This record-breaking accomplishment solidifies the TVS Apache’s position as a true champion in the world of motorcycling.”

Key highlights from the 24 hours Speed Endurance Challenge:

The team consisted of 18 riders who relayed on 3 TVS Apache RR 310 motorcycles, shod with Apollo Alpha H1 tyres, starting off the 24-hours speed endurance challenge at 10:00 AM IST on July 2, 2023
As part of the challenge, the riders covered a total of 322 laps, at an average speed 152 km/hr
The top speed recorded during the challenge was 173 km/hr
The challenge has made its way into the India Book of Records for covering 3657.92 kms in 24-hours
The key factors contributing to TVS Apache RR 310’s exceptional performance have been its advanced aerodynamic design, crafted in wind tunnel. This has yielded the best-in-class coefficient of drag, to achieve maximum downforce and minimum wind blast, and a higher top speed
The race derived power plant makes 34bhp, built to endure & perform at extreme conditions.

About TVS Motor Company:

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate. For more information, please visit www.tvsmotor.com

For more information, please contact:
Namrata Sharma – 81383034

10 winners stand out at Start-up Express

HONG KONG, Jul 4, 2023 – (ACN Newswire) – The sixth edition of Start-up Express, an entrepreneurship development programme organised by the Hong Kong Trade Development Council (HKTDC), came to a successful conclusion today. The judging panel at the in-person Final Pitching, held at the Hong Kong Convention and Exhibition Centre, selected 10 winning start-ups from 20 finalists. The My Favourite Start-up Award, decided through live polling of the audience, was awarded to Meat The Next, while the ESG Award went to Negawatt Technology in recognition of its sustainable and socially impactful business solution. The 10 winning teams will participate in a series of local and international events to develop their businesses by building connections, exploring markets, seeking partners and enhancing brand awareness.

The Start-up Express Final Pitching winners pictured together with the judging panel and special guests.

The record number of applications for Start-up Express 2023 reflected the great enthusiasm of Hong Kong's entrepreneurs. The 20 finalists come from diverse sectors such as ed tech, con (construction) tech & prop tech, fintech, health tech, as well as metaverse, Web 3.0, smart city, HR tech and food tech. More than 100 industry players were invited to attend the Final Pitching Day in person, including investors, business leaders, representatives from overseas entities and more. Booths were also set up during the event to showcase Start-up Express past winners and finalists, in addition to demo-pitch from secondary school teams.

Stephen Liang, Assistant Executive Director of the HKTDC, said Hong Kong start-ups were highly adaptive and had shown great resilience during the COVID-19 pandemic. "We're still at an initial phase of post-COVID-19 recovery, when the global economic outlook is still uncertain. Investors remain conservative, and start-ups are in need of more support. Finalists of this year's Start-up Express have developed products with advanced technology, and they have great potential to become unicorns. With business matching via HKTDC's physical and online platforms to help start-ups connect with international investors and partners, we will step up efforts to promote local innovations to the world, and grasp post-COVID-19 opportunities," Mr Liang said.

Diverse opportunities offered to winning start-ups

Final Pitching contestants presented innovative business ideas and responded to questions raised by a distinguished panel of judges. This year's judging panel comprises five renowned industry experts: Jason Chiu, Chairman of Hong Kong Startup Council; Gordon Yen, Chairman of Hong Kong Business Angel Network; Winnie Han, Head of China Issuer Services/ Senior Vice President, Hong Kong Exchanges and Clearing Limited; Ben Cheng, President and Chief Executive Officer of C Capital; and Danny Yeung, Co-founder and Chief Executive Officer of Prenetics. The 10 winning start-ups are: Big Bang Academy, DimOrder, Haofood, Kodifly, Meat the Next, Moongate, Negawatt Technology, Neuropix, Rocket Academy, and Syngular Technology (click here to download the list of winners and their company profiles). The HKTDC will arrange a series of exposure opportunities through which the winning teams can interact with buyers and investors.

Outstanding presentations at Final Pitching

Jason Chiu, Chairman of Hong Kong Startup Council is a third-time judge of the programme. He said: "I am thrilled to participate in this year's Final Pitching. Entering its sixth edition, Start-up Express' competition is fiercer than ever, and each team displayed enormous growth potential. The industry verticals of the finalists this year were also more diverse, ranging from Web3.0 to con tech, which demonstrates their innovative thinking and proves the capability of Hong Kong tech talents. It is encouraging to see how vibrant the Hong Kong start-up ecosystem is becoming, with the number of start-ups increasing over the past few years. The winning teams this year will leverage the unique platform of Start-up Express to obtain more business opportunities and connections, and explore the Mainland and overseas markets."

Danny Yeung, Co-founder and Chief Executive Officer of Prenetics, who led his start-up to unicorn status, gave insightful advice to the finalists. He said: "It is definitely challenging for early-stage companies to gain a foothold in competitive markets. I am happy to see that the HKSAR government is strengthening its support to the innovative & tech sector; Start-up Express is also a meaningful programme for start-ups to connect with investors and business leaders. He also cheered for start-ups: "The journey of building a start-up is never easy. Founders must keep an eye on the latest market trends and make unremitting efforts, in order to scale-up in the challenging business environment."

Grasping the market pulse and building a global network

Start-up Express gives start-ups the chance to promote their business ideas. They can take part in exhibitions in Mainland China and overseas, and investor meetings in Hong Kong and the mainland. They can also strengthen their business networks, as well as expand their markets and businesses through the exposure they have gained.

Dr Martin Zhu, Co-founder of i2Cool, a winner last year, said: "Through Start-up Express, we have unlocked many publicity opportunities. HKTDC's global network also helped us obtain many new customers from all over the world. For example, at last year's Entrepreneur Day, we met with a construction company from the Philippines, and signed a large-amount business order with them on the spot. All of these are valuable opportunities offered by Start-up Express."

Start-up Express International returns in December

The HKTDC has always given its full support to Hong Kong's entrepreneurial ecosystem, helping to maintain the city's status as a competitive business centre and hub for innovation. Launched in 2022, Start-up Express International has attracted participants from around the world, including the United States, Germany, Japan, Korea, Turkey, Singapore and more. 10 winners were selected and exchange sessions were arranged between them and the Hong Kong start-up winners. Start-up Express International will return during Entrepreneur Day in December. The HKTDC will support the winning international start-ups to set up their businesses in Hong Kong, as well as to explore the mainland and Greater Bay Area markets.

Start-up Express website: https://portal.hktdc.com/startupexpress/en/
Photo download: https://bit.ly/3CVHKAH

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 HKTDC's Communications & Public Affairs Department:
Jane Cheung, Tel: +852 2584 4137, Email: jane.mh.cheung@hktdc.org

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

HKTDC takes Hong Kong to Bangkok

BANGKOK, Jul 4, 2023 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) is taking its Think Business, Think Hong Kong (TBTHK) signature promotion event to Bangkok next week. The event will showcase Hong Kong as a resilient innovation hub where businesses from around the world can seize opportunities. TBTHK will run on 13-14 July at Centara Grand and Bangkok Convention Centre at CentralWorld, where the Hong Kong and Thai business communities will explore partnership opportunities through exhibition, seminars and networking activities.

Mr Ronald Ho, Regional Director, South East Asia and South Asia of the HKTDC

Mr Ronald Ho, Regional Director, South East Asia and South Asia of the HKTDC said at the press luncheon, "Association of Southeast Asian Nations (ASEAN) has a long history of close economic ties with Hong Kong and is the city's second-largest trading partner in merchandise trade. The TBTHK in Bangkok will highlight Hong Kong's offerings in ASEAN, as well as provide additional impetus for promoting regional trade and investment partnerships and creating opportunities through regional economic and supply chain integration."

"Our main goal is to promote Hong Kong's strengths in merchandises and services and introduce the city's latest developments, demonstrating to the Thai business community that Hong Kong is the premier international business hub in Asia, as well as an investment and business platform for Thai enterprises to maximise China opportunities. Simultaneously, we will showcase how the Thai, mainland and Hong Kong business communities can collaborate to create mutually beneficial business opportunities and maintain long-standing close business and trade ties."

"These opportunities are made possible by strong, visionary planning by governments, as well as free trade agreements such as FTAs and Regional Comprehensive Economic Partnership (RCEP), that provide a framework for regional cooperation." Ronald added.

Hong Kong is at the geographic heart of Asia and serves as an international financial centre with distinct advantages such as providing trusted legal, financial, investment and tax systems, producing high quality, innovative and creative products and services for trade, and serving as the pre-eminent access point to explore and develop business links and markets with Mainland China, the ASEAN and beyond.

The city is a bridge between the mainland and the world. Its role as a two-way platform for the flow of capital, goods, information and people is as important as ever. Development plans such as the Belt and Road Initiative and Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Development Plan create new prospects, expanding Hong Kong's role as a hub for finance, trade, logistics and cultural exchange. Hong Kong is the ideal partner for Thai companies seeking to tap the vast opportunities from the GBA and international markets.

This year, this signature promotion event will be a holistic platform where the Thai trade community can learn about Hong Kong's role as an ideal gateway for them to tap into mainland and international markets. Building on the strong trade ties between Hong Kong and Thailand, a Trade Expo showcasing high-quality and innovative products from more than 100 Hong Kong exhibitors, including Chow Tai Fook, Green Common, B.Duck, Vita Green, Memorigin, Smart City consortium and more. This would help Hong Kong companies introduce high-quality products to the regional market, while Thai companies may identify potential business partners and supply chains for business collaborations.

During today's press luncheon, a wide range of Hong Kong's innovative and creative quality products ranging from fashion & lifestyle, home & gifts, sustainable & green sectors were showcased to Thai media as a trade expo preview.

Featured products include the following:

– Kapture's tote bags, which combine BioNTex(TM) antiviral tech and upcycled fabric from garment production;
– Iconic Camel flasks, which have championed vacuum technology since 1940's;
– Temporis watches – designed for stylish youngsters, these high-quality timepieces boast K1 crystals instead of tempered glass. This is a major upgrade in comparison to other wristwatches in this price category;
– Romago watches – this luxury Swiss watch brand originated its business in deluxe custom-made timepieces or collectors. Nowadays the brand is focusing on timepieces with sleek designs using unique materials and new manufacturing technologies refining the traditional diving watches.
– Derangedsign, a dynamic design studio based in Hong Kong will showcase its Coexistence set which includes two trays designed as sculptures in landscape shapes. Ideal for serving fruits, candy, nuts and jewellery, these trays have received many international awards and accolades;
– B.Duck, the main IP-ed brand of Hong Kong's famous product design company, Semk Products Ltd. will present its legendary duck-shaped lamps.

In addition to the Trade Expo, a Trade Talks series solidifying Hong Kong's competitive advantage as a trading hub will be held during the event period. Experts from renowned retail groups, associations and innovative companies will gather at the Trade Talks to shed lights on a plethora of hot topics, such as Innovating the Future of Retail, Maximising Business Opportunities through Licensing, Re-shaping E-commerce and Embracing Sustainability & ESG.

A giveaway session on the second day of the event (14 July) will offer prizes including smart phones, Tourbillion, tablets and more. Participants may have a chance to win air tickets during the event period. In addition, there will be a captivating photo booth featuring Hong Kong's iconic buildings set in the venue with a TBTHK branded Tuk Tuk, providing an immersive experience and promoting Hong Kong's authentic culture and iconic scenery to Thai community.

Website
– Think Business, Think Hong Kong: https://www.thinkbusinessthinkhk.com/bangkok2023/en
– Photo download: https://rb.gy/4cdvr

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

For enquiries please contact:
Midas Communications International Co., Ltd.
Nawaporn Rojarayanont, Tel: 097-250-1603, Email: nawaporn@midas-pr.com
Wanrawee Kongkraphan, Tel: 088-887-9718, Email: namtarn@midas-pr.com

HKTDC's Communications & Public Affairs Department:
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

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

GBA Business Confidence Index eases to the 50 neutral mark

HONG KONG, Jul 3, 2023 – (ACN Newswire) – Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today released the Standard Chartered GBA Business Confidence Index (GBAI) for the second quarter of this year. The current performance of "business confidence" eased to the 50 neutral mark while the expectations index remained in the expansionary territory (58.7), the second-highest reading in two years. The headline expectations index for credit also remained expansionary at 51.6, reflecting sanguine underlying growth expectations among companies in the region. Both expectations and credit indices point to further recovery in the third quarter.

Resilient investment appetite

The softer Q2 GBAI readings were expected considering the strong first-quarter GBAI performance brought by Mainland China's swift post-COVID sentiment rebound. The performance of underlying sub-indices was more diverse this quarter after a more uniform increase in Q1. Fixed Asset Investment had the highest score of 52.9 among components, suggesting that respondents remained optimistic towards the longer-term GBA business outlook, by acknowledging the need to invest in capacity expansion in anticipation of further demand normalisation.

Industry sub-indices vary

The current performance index for Professional Services rose 4.0 points to an industry-best 56.1. The sector's expectations index also outperformed by being the lone print above 60 (61.9). The current performance and expectations index of Financial Services and Innovation and Technology saw the largest quarter-to-quarter drops among sectors. Financial respondents' sentiment was driven by margin pressures and credit worries amid an easing recovery momentum while the tech sector continues to face many headwinds, led by the ongoing global semiconductor downcycle.

China on modest recovery path

"The dip in the index in Q2 reflects the normalisation of base effects, softening of nationwide macro data quarter-to-date, and the novelty of reopening was bound to wear off. However, the index did not fall back into contractionary territory, suggesting only a softening of the recovery momentum. Given that GBA is a microcosm of Mainland China's diverse economic drivers making it a bellwether for overall growth, we see the mainland managing to stay on a modest recovery path," said Mr Kelvin Lau, Senior Economist, Greater China, Standard Chartered.

More diverse performance among GBA cities

There was a more diverse city performance among the current performance sub-indices. Most notably, Shenzhen (from 51.5 to 51.9) and Dongguan (from 53.5 to 56.4) showed their second consecutive improvement while other city sub-indices fell. Shenzhen weathered weaker responses from its tech respondents by posting the highest manufacturing and trading score among all city sub-indices. Guangzhou and Hong Kong, the other two GBA core cities, outperformed Shenzhen across the other four industry sub-indices.

Sustained recovery momentum in the coming quarters

Ms Irina Fan, Director of Research at the HKTDC, said: "We continue to take comfort from the fact that all city expectations indices stood comfortably in the 50+ expansionary territory, consistent with our view of a sustained recovery momentum in the coming quarters. That includes Hong Kong, which, despite returning to the lowest score of the pack, still managed to record a solid 54.7 expectations print (led by retail and professional services), making it two straight quarters of expansion."

Overseas global supply chain migration yet to happen

Although there has been a lot of discussion about global supply chain shifts in the market, 91% of survey respondents said they have not moved any capacity overseas, and 87% reported no plans to do so for now. The survey found the biggest hurdles and concerns for relocating production capacity overseas are "cost of production higher than expected" topped the list at 34.6%, followed by "poor labour quality and productivity" at 29.9%, and "lack of good suppliers / proximity to suppliers" at 22.8%.

Related materials
– Standard Chartered GBA Business Confidence Index Report: https://www.sc.com/hk/gba/gba-index-report/
– HKTDC Research: https://research.hktdc.com/en/article/MTQxNzI2NzQ2MA

About Standard Chartered

We are a leading international banking group, with a presence in 57 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR's three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

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 trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries

Corporate Affairs Department
Standard Chartered Bank (Hong Kong) Limited
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Communications & Public Affairs Dept
Hong Kong Trade Development Council
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SMI Vantage: Acqusition of 51% Stake in Provino Logistics to Complement and Expand Current Business Areas in F&B

SINGAPORE, Jul 3, 2023 – (ACN Newswire) – SMI Vantage Limited, a company listed on the mainboard of the SGX, recently announced that the Company entered into a sales and purchase agreement ("the Agreement") with Michael Hadley and his partners, on the acquisition of a 51% stake in Provino Logistics Pte Ltd ("The Target").

The Target's business activities are based in Singapore and is primarily in third party logistics specializing in inventory management services to the wine and spirits and other alcoholic beverages industry including export services ("Business"). It uses a world class proprietary Warehouse Management System making the company a leader in the use of such technologies.

Combined with the Group Chief Executive Officer's ("CEO") considerable knowledge of, and global network in, the field of wines and spirits, the Board is of the view that the Proposed Acquisition will allow the Company to further develop its logistics business, an area which the Group already has considerable expertise.

CEO and President of SMI Vantage Mark Bedingham is a graduate of Oxford University and began his career with Jardine Matheson and was subsequently appointed as a Director of Jardine Pacific. He joined Moet Hennessy (LVMH Group) in the mid-1990s as the Regional Managing Director of APAC and served in that role for twenty years. Today, he also serves on the Board of The Artisanal Spirits Company (ASC), a company that owns the Scotch Malt Whisky Society (SMWS) a specialist bottler of cask strength single malt whisky and is a membership-based e-commerce business. He has also previously served as Executive Chairman in two large hospitality companies, both of which have a significant presence in Singapore.

"The Proposed Acquisition is part of the Group's corporate strategy to diversify and expand into complementary business areas within the food and beverage industry and will provide the Group with a new source of revenue, improve profitability and enhance shareholder value," said Mark Bedingham.

"I am extremely pleased to be partnering with SMI Vantage and believe that their relevant expertise and deep experience in logistics and the F&B business will allow Provino to grow significantly going forward. I am excited to see the fruits of this partnership pan out in the future, as we look to grow this business together," Michael Hadley added.

For details on the Agreement please refer to the Company's Announcement posted to SGX Net on [27 June 2013]

About SMI Vantage

SMI Vantage Limited is an investment and management company focused on capitalising on strong trends in the new economy including Food and Beverage related businesses, technology-based SaaS services and other high-tech platforms. Listed on the Main Board of the Singapore Stock Exchange, SMI Vantage Limited has a highly capable and experienced management team with a proven track record in building strong business partnerships and alliances.

For media queries, please reach out to:
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KGW to Raise RM16.73 Million from ACE Market IPO

KUALA LUMPUR, Jun 30, 2023 – (ACN Newswire) – KGW Group Berhad, a provider of logistics services including ocean freight services, air freight services and freight forwarding services as well as warehousing and distribution of healthcare-related products and devices, today launched the Group's prospectus for the upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad.

The IPO will raise RM16.73 million via the issuance of 79.66 million new shares at the IPO price of RM0.21 per share to fund KGW's future expansion as well as for working capital and repayment of bank borrowings. The proceeds will be used in the following manner:

– RM2.00 million to renovate the Group's three-storey office building and adjacent two-storey warehouse
– RM0.73 million for working capital purposes
– RM10.00 million to repay bank borrowings
– RM4.00 million allocated for estimated listing expenses

Managing Director of KGW, Dato' Roger Wong said, "We are an asset-light logistics provider that specialises in managing and coordinating the movement of goods within the supply chain. Instead of owning physical transportation assets such as ships, trains, or aircraft, we focus on providing more valuable services to our customers to facilitate their whole shipment process for better efficiency by leveraging partnerships and collaborations with existing transportation operators."

Head of Corporate Finance of TA Securities Holdings Berhad, Mr. Ku Mun Fong said, "The Group has developed a solid network with other logistics services providers in various parts of the world throughout the years of operation. This has enabled the Group to arrange for shipping of goods from Malaysia to various locations including those in Asia, Africa, Europe, North and South America. This gives the Group an edge in competing and growing the business."

Managing Director of Eco Asia Capital Advisory Sdn. Bhd., Mr. Kelvin Khoo said, "KGW Group will implement several strategies such as actively expand its pool of customers exporting to non-USA destinations, expand its headcount to scale up operations, expand its warehousing services for healthcare related products and develop new business opportunities for their logistics services through providing e-commerce solutions. Under the stewardship of Dato' Roger and his Management team, we are very confident that KGW will be able to successfully implement their future business plan after its Listing, and will be able to further strengthen their presence in the logistics industry."

KGW recorded revenue of RM43.38 million, RM63.52 million, RM195.42 million and RM229.70 million for the financial year ended 31 December 2019 ("FYE 2019"), FYE 2020, FYE 2021 and FYE 2022 respectively. The Group registered profit before tax of RM0.60 million, RM2.86 million, RM20.75 million and RM21.87 million for FYE 2019, FYE 2020, FYE 2021 and FYE 2022 respectively.

TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO while Eco Asia is the Financial Adviser.

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

Image
1. Ms. Kelly Neng, Director, Eco Asia Capital Advisory Sdn Bhd
2. Mr. Kelvin Khoo, Managing Director, Eco Asia Capital Advisory Sdn Bhd
3. Mr. Ku Mun Fong, Head of Corporate Finance, TA Securities Holdings Berhad
4. Tengku Faizwa Binti Tengku Razif, Independent Non-Executive Chairman, KGW Group Berhad
5. Dato' Roger Wong, Managing Director, KGW Group Berhad
6. Ms. Cheok Hui Yen, Executive Director/ Chief Operating Officer, KGW Group Berhad
7. Mr. Tah Heong Beng, Executive Director, Operations, TA Securities Holdings Berhad [L-R]
( https://photos.acnnewswire.com/20230630.KGW.jpg )

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Taiwan Excellence Pavillion Fosters Connections in ASEAN and Beyond Through Successful Debut at AT X SG

SINGAPORE, Jun 30, 2023 – (ACN Newswire) – Excellence in design, quality, Taiwanese R&D, manufacturing and innovation. These attributes of Taiwan Excellence were on full display at the Asia Tech x Singapore (AT x SG) event from 6 to 9 June. The show, which concluded today, saw an array of award-winning technologies in the fields of 5G and smart telecom, security and solutions for enterprises and Artificial intelligence of things (AIoT) smart applications from 15 Taiwanese tech brands showcased to over 17,000 attendees from across the globe.

These leading Taiwanese companies including AIFA, Nilvana, PanelSemi, PLANET, MSi, TPI Software, and Z-Com came together for the first time at AT x SG to display solutions ranging from mini LED displays to smart home controllers, and industrial wireless routers.

Ms Wu Yiling, Director of Taiwan Trade Centre Singapore, said, "We are delighted to make a successful debut at this landmark event. Singapore is an important trade partner of Taiwan, and we have a close and long established bilateral relationship. Through Taiwan Excellence's inaugural participation at ATxSG, we hope to promote partnerships, share our cutting-edge technologies, and facilitate knowledge exchange between leading Taiwanese companies, innovators and members of the ICT industry in the Southeast Asia region, affirming Taiwan's commitment to Singapore and to the region."

Key products that were on display included:

PanelSemi's MagiCylinder, the world's first AM Mini LED direct view display that is flexible, rollable and multi-tiling-able. The MagiCylinder offers low energy consumption and a good cooling system, and is the world's thinnest at only 1mm thickness.

MSi FUNTORO's TS Series, a smart and complete solution with a cloud management platform for electric buses. Through the integration of CANBUS and various sensors, the vehicle and driving data are collected and transmitted to the backend platform to allow real-time fleet management and remote monitoring on system devices, driver behaviors, on-duty time and battery efficiency to enhance fleet safety and operation efficiency.

Z-Com's SP230-S5, an outdoor wireless AP which can operate in point to point, bridge & coverage modes. Based on 802.11ac Wave 2 technology, throughput is up to 1,167Mbps. With built-in high gain antennas & ERIP 38dBm, its coverage can be 400 meters & transmit over 6KM for video streaming at PTP mode.

Rick Ng, Business Development Manager, Z-Com Inc., said, "Being at this exhibition is an important step in gaining a foothold in Singapore and ASEAN. This show has provided us a good opportunity to showcase the latest technology from Z-Com Inc. which focuses on smart telecom including long range wireless routers."

Yvonne Chien, General Manager Singapore, TPI Software, "This experience was definitely a good one, where we were able to showcase our award winning product that uses IP technology, the DigiRunner, a platform for businesses to manage their application programming interfaces, allowing us to form a deeper connection with customers from all over ASEAN."

Chloe Hsu, Marketing Manager, PLANET Technology Corporation, added, "For 20 years in a row, a total of 63 products and solutions from PLANET have received the Taiwan Excellence Award. We are delighted to be able to showcase three of these award winning products and solutions here at the exhibition. We will continue to provide innovative network products for the global market, utilizing advanced technology and environmental sustainability to realize a sustainable network communication infrastructure."

This marked Taiwan's inaugural participation at Southeast Asia's leading trade technology exhibition, which has opened up avenues for the market to reach out to not only their trading and technology partners in the region but also foster further collaborations with partners from ASEAN and the world.

More information about the products displayed at the Taiwan Excellence Pavilion can be found here. https://preciouscomms.box.com/s/p28iqs9c4xgmjcn01lxhsxxoe10atlm3

About Taiwan Excellence Awards

The Taiwan Excellence Awards were established by the Ministry of Economic Affairs in 1993. Every year, eligible candidates are subjected to a rigorous and stringent selection system that covers four major aspects of "R&D", "Design", "Quality" and "Marketing" to identify outstanding products that offer "Innovative Value" while satisfying the key criterion of being "made in Taiwan". Products that have been selected for the Taiwan Excellence Awards would serve as examples of the domestic industries and be promoted by the government in the international market to shape the creative image of Taiwanese businesses.

The organizers of Taiwan Excellence

– The Bureau of Foreign Trade (BOFT), which was established by the Ministry of Economic Affairs (MOEA) on January 1, 1969, is responsible for formulating Taiwan's international trade policies, promoting trade, and managing trade-related activities.

– Taiwan External Trade Development Council (TAITRA)
Founded in 1970, TAITRA is Taiwan's foremost nonprofit trade promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises to expand their global reach. Together with Taipei World Trade Center (TWTC) and Taiwan Trade Center (TTC), TAITRA has formed a global network dedicated to promoting world trade.

For Media Enquiries
PRecious Communications for TAITRA
Tel: +65 6303 0567
Email: taitra2023@preciouscomms.com

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