TEC case study with Standard Chartered on Future Workplace found 75% of employees want greater workplace flexibility

HONG KONG, Sep 2, 2021 – (ACN Newswire) – The Office of the Future must be an inspiring physical space that facilitates communication, cooperation and collaboration in order to encourage employees to come into the office, according to the latest case study by The Executive Centre (TEC), the leading premium flexible workspace, and Standard Chartered Bank.

Modern technology and globalised communication systems have allowed us to become a more agile and mobile workforce, and these trends have accelerated with the COVID-19 pandemic. The workforce culture today is increasingly championing flexible working practices as the Future of Work. Standard Chartered Bank is leading the shift for multinational corporates towards adopting a flexible work culture through an extensive review and analysis of their portfolio and employee needs.

Sheridan Perkins, Property Program Director of Future Workplace, now at Standard Chartered Bank said, "Initially, we assumed maybe 50% of our employees wanted Flex, but actually from our survey, we found that over 75% wanted it. Typically, this was 2-3 days at home and 2-3 days at the office or third space. Despite some regional nuances, this finding was reasonably consistent across all regions."

The case study reviews the learnings from Standard Chartered Bank's exercise and provides a roadmap for other organisations that realise the value of flexibility but find it challenging to create an architecture to empower change.

One of the key learnings is that for companies to successfully transition towards flexible working practices, they need to understand their business requirements and priorities first, as there is no one-size-fits-all solution. They must also interview and collaborate with their employees extensively, conduct research to make informed decisions, seek external consultations from multiple industry partners, and understand where their operations need to be geographically and how the occupants will use that space.

While the company approach must be tailored, there were three factors that all companies should consider in their workplace strategy: Physical, Digital and Social.

— Physical transformation:
As people will be coming into the workplace to perform activities that they cannot do at home, office design will become one that facilitates communication, cooperation and collaboration.

— Digital transformation:
With an increasing demand to work flexibly and remotely, technology and digitalisation of workflows will play a pivotal role in enabling day to day productivity.

— Social transformation:
As the office will become a place where employees choose to work from, greater incentives will be needed to attract people into the office.

For its Greater Bay Area location, Standard Chartered Bank realised it required private office spaces and
meeting rooms in a CBD location which would allow for multiple business units to operate, and flexibility to scale up or down as their business needs changed. The Executive Centre's flexible workspace solution gave them the ability to mitigate their risks and reduce costs while remaining in the heart of Guangzhou's central business district.

"As a solution, flexible workspaces provide ready to use, fully furnished and serviced workspaces for the headcount that's needed at hand. This ability to scale up or down or move locations at relatively short notice is a highly intelligent way for companies to address their workspace requirements," said Paul Salnikow, Founder & CEO of The Executive Centre.

Shelley Boland, Head of Property Asia Pacific, Standard Chartered Bank added, "The talent of the future are expecting flex; whether that's flexible work hours or locations. Successful adopters of flex will be those that have the foresight to model and visualise how workplace changes may affect business outcomes, operations and employees, and be agile enough to constantly evolve their workspace to those needs. We see flexible office spaces playing a greater role in that strategy."

Read the full Standard Chartered / TEC case study on the 'Future of Work' at https://business-reporter.co.uk/2021/08/23/why-the-future-of-work/.

About The Executive Centre
The Executive Centre (TEC) opened its doors in Hong Kong in 1994 and today boasts over 150+ centres in 32 cities and 14 markets. It is the third-largest serviced office business in Asia with an annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first-class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business' needs. For more information please visit www.executivecentre.com.

Press Enquiries:
Finsbury Glover Hering
Sheena Shah / Crystal Chow
Sheena.Shah@fgh.com / +852 3166 9855
Crystal.Chow@fgh.com / +852 3166 9838

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

Xfers & SEBA Bank Named Finalists for Global CBDC Challenge organised by the Monetary Authority of Singapore

SINGAPORE, Sep 1, 2021 – (ACN Newswire) – Xfers, a Southeast Asia based payments leader holding a Major Payment Institution (MPI) license for e-money issuance, together with its partner, SEBA Bank, a FINMA licensed Swiss Bank providing a seamless, secure, and easy-to-use bridge between digital and traditional assets, today announced that they have been named among the 15 finalists for the Global Central Bank Digital Currency (CBDC) Challenge organised by the Monetary Authority of Singapore (MAS).

Launched by the Monetary Authority of Singapore and in partnership with the International Monetary Fund, World Bank, Asian Development Bank, United Nations Capital Development Fund, United Nations High Commission for Refugees, United Nations Development Programme, and the Organisation for Economic Co-operation and Development (OECD), the Global CBDC Challenge calls for FinTech companies, financial institutions and solution providers around the world to submit innovative retail CBDC solutions to enhance payment efficiencies and promote financial inclusion.

The joint proposal submitted by Xfers and SEBA Bank was shortlisted from over 300 applications representing over 50 countries and will be presented to the public and a panel of judges at the Singapore Fintech Festival on November 8th, 2021.

Launched in October 2020, StraitsX by Xfers is the first stablecoin initiative focusing on Southeast Asia and issues the StraitsX Singapore dollar, XSGD, a digital token available on the Ethereum and Zilliqa blockchain that is backed one-for-one with the Singapore dollar.

Aymeric Salley, Head of StraitsX, said, "We are delighted to be named finalists for the CBDC challenge by the MAS. We look forward to continuing leveraging our experience as Singapore's first stablecoin issuer, and working closely with our partner, SEBA Bank, which comes with a wealth of expertise and practical experience in developing CBDCs, having just completed a CBDC experiment with Banque de France in June this year."

Founded in 2018, SEBA Bank is a fully licensed FINMA banking and securities dealer. In June this year, SEBA Bank completed a successful CBDC experiment with the Banque de France, which demonstrated the capacity of distributed ledger technologies to communicate with the Eurosystem's settlement platform TARGET2-Securities for the settlement of listed securities. This testing is an important contribution towards the development of an EU wide CBDC.

Matthew Alexander, Head of Digital Corporate Finance & Asset Tokenisation SEBA Bank, commented, "We are thrilled to have been selected by the MAS for this CBDC challenge amongst such a prestigious group of institutions. We look forward to working with our partner Xfers and contributing both our Digital Asset capabilities and recent experience working with the Banque de France CBDC to support the MAS and the Singapore financial centre. At SEBA Bank, we are constantly striving for innovation in the development of digital currencies and digital asset infrastructure. This selection, alongside our partners Xfers, by MAS as a finalist in the CBDC challenge, is a significant validation of our innovation in the development of digital currencies, and builds on our work supporting the Banque de France in CBDC testing. The shortlisting by MAS is testament to SEBA Bank's extensive network and operations in APAC, with the recent appointment of Sam Lin as APAC CEO, and headcount growth in our Singapore and Hong Kong hubs, further solidifying our presence in the region."

About StraitsX by Xfers

StraitsX is the pioneering payments infrastructure for the digital assets space in Southeast Asia developed by Singapore-based FinTech Xfers, which is a Major Payment Institution licensed by the Monetary Authority of Singapore for e-money issuance. StraitsX offers personal and business accounts to deposit, hold and withdraw funds as well as to connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payments rails for digital asset platforms and issues the Singapore Dollar-backed stablecoin, XSGD.

About SEBA Bank – The Future of Digital Banking, Investing & Financing

Founded in April 2018 and headquartered in Zug, SEBA Bank is a pioneer in the financial industry and the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy. In August 2019, SEBA Bank received a Swiss banking and securities dealer licence – the first time a reputed, regulatory authority such as FINMA has granted a licence to a financial services provider with a core capability in digital assets. The broad, vertically integrated spectrum of services combined with the highest security standards, make SEBA Bank's value proposition unique – this is why Banque de France selected SEBA Bank to test the integration of Central Bank Digital Currency (CBDC). CVVC Global Report and CB Insights named SEBA Bank as Top 50 Companies within the blockchain ecosystem. Aite Group awarded SEBA Bank with their 2021 Digital Wealth Management Impact Innovation Award in the category "Digital Startup of the Year". For more information please visit seba.swiss.

For media queries
PRecious Communications for Xfers
xfers@preciouscomms.com

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

Legend Holdings Revenue and Net Profit Attributable to Equity Holders of the Company Stood at RMB 228.57 Billion and RMB 4.69 Billion in 1H2021

HONG KONG, Sep 1, 2021 – (ACN Newswire) – Legend Holdings Corporation ("Legend Holdings" or the "Company"; stock code: 3396.HK) announced the unaudited interim results of the six months ended June 30, 2021 (the "Reporting Period") on August 31, 2021. During the Reporting Period, the Company's revenue was RMB 228.57 billion, representing a year-on-year increase of 24%, which rose for nine consecutive reporting periods. Net profit attributable to equity holders of the Company amounted to RMB 4.69 billion, which represented a year-on-year increase of 636% and hit a record.

FINANCIAL HIGHLIGHTS
For the six months ended June 30, 2021:
— Revenue stood at RMB 228.57 billion, representing a yoy increase of 24%;
— Net profit attributable to equity holders of the Company amounted to RMB 4.69 billion, representing a yoy increase of 636%;
— Profit for the period reached RMB 8.72 billion, representing a yoy increase of 295%.

Mr. Li Peng, Executive Director and CEO of Legend Holdings, deemed that, "During the first half of 2021, although the global epidemic has recurred and the full recovery of the international market is still waiting for time, China's clear policy guidance, strong government leadership, sufficient domestic market vitality and sustained rapid economic recovery have created good conditions and unique advantages for the development of enterprises, and the introduction of the 14th Five-Year Plan has further pointed out the direction for the development of enterprises. Through effective management and value-added services, Legend Holdings consolidated and strengthened its business operation fundamentals, steadily developed its pillar assets, and enhanced its competitive advantages. Meanwhile, the Company adjusted its business strategy, seized the opportunity of China's high-quality economic development, and actively promoted the layout of the technology sector to achieve good performance growth, and various business optimization initiatives are steadily progressing. In addition, the Company's funds continued to perform well with the listing of many portfolio companies and the orderly implementation of various fundraising, investment, management and exiting work. In the future, Legend Holdings will further improve its industrial foundation, strengthen the resilience of profit growth, seize opportunities brought by the new round of industrial transformation, and accelerate the layout of emerging industries in the field of science and technology, achieve long-term healthy development of the enterprise and contribute greater social value."

Continuously reinforced competitiveness in pillar assets, sustainable optimization and growth of asset portfolio

During the Reporting Period, the company's strategic investment overall operating performance grew steadily, the competitiveness of its pillar assets and focused businesses were further enhanced. The investment portfolio was further adjusted with the improvement of the quality of the asset portfolio, and the return of capital and resources was accelerated. In the meantime, the Company further increased investment in the field of science and technology, adheres to the development path of science and technology leading, deepening innovation-driven, and strengthening industrial synergy to promote sustainable and high-quality development of the enterprise.

Attributable to the global digital and intelligent transformation, Lenovo achieved long-term and sustainable profit growth, with revenue up 25% year-on-year to RMB 210.78 billion, and the Net profit attributable to equity holders of Legend Holdings surged by 172% to RMB 1.54 billion. The personal computer business remained No.1 globally, and the non-pc business also showed strong growth. Infrastructure Solutions Group (ISG) business accelerated profit improvement, with growth rate exceeding the market average for six consecutive quarters. Additionally, Solutions & Services Group (SSG) drives its profitability, and its service-oriented transformation strategy pays off. As the consensus "carbon neutrality" accelerates, Lenovo significantly exceeded its emission reduction target in 2019/20 fiscal year and strives to achieve zero carbon emissions by 2050. As a high-tech manufacturing enterprise, Lenovo will build green manufacturing and supply chain systems through digitization and intelligence to guide and drive the industrial chain to jointly achieve zero carbon transformation, while actively empowering all industries to achieve low-carbon development and make concerted efforts to build a community for people and nature.

Levima Advanced Materials, with more than ten years of development from greenfield, has developed into a high-tech enterprise specializing in advanced high polymer materials and special fine materials. During the Reporting Period, its net profit increased by 131% year-on-year to RMB 548 million. With the steady improvement of the company's results, Levima Advanced Materials' market value also saw a significant increase. Meanwhile, it energetically plans for investment and merges and acquisitions, acquiring Levima (Shandong) Chemicals to further improve the industrial layout and enhance the sustainable profitability and stability; investing in Jiangxi Keyuan Bio-Material to cultivate new growth points in the field of biodegradable materials. Furthermore, the company's main plant economic and technological indicators were further optimized, continue to maintain a leading position in the industry. Levima Advanced Materials continued to strengthen product development and market channel expansion. With product mix further optimized, the market shares of EVA, PP, EOD, and other segmented products continues to maintain the leading position in China. As of the end of the Reporting Period, Levima Advanced Materials had a total of 131 patents approved. The Company also fully utilizes the advantages of its R&D platform to actively promote the development of new products and processes, and has completed the R&D of 16 laboratories, 14 production technology formulations, and the industrialization of 8 new products.

Banque Internationale a Luxembourg (BIL) displayed significant growth amid the epidemic in Europe. In the first half of the year, its net profit increased by 18% year-on-year to approximately EUR 47 million, and the assets under management increased to EUR 45.5 billion with CET-1 ratio 13.18%. BIL's ratings by both Moody's and Standard & Poor's were maintained at A2/Stable/P-1 and A-/Stable/A-2 respectively. In response to the new post-epidemic environment, BIL will continue to strengthen its portfolio of retail, private, and corporate and institutional banking; it will progressively advance its business in China by further reinforcing the connection among Luxembourg, Switzerland, and Hong Kong SAR and Beijing, China; its wealth management business will continue to grow by serving its target markets and targeting its clients with precision; and the target operating model and business culture will turn BIL into a "robust and dynamic" bank.

The two main business lines of Joyvio Group are fruit and high-end animal protein. It is also active in the fields of fresh semi-finished products and agri-food technology. During the Reporting Period, Joyvio Group deepened its strategic layout and focused on the core businesses. Its revenue increased by 9% year-on-year to RMB 9,778 million, and the net profit attributable to equity holders of Legend Holdings was RMB 240 million, thus turning loss into profit. Golden Wing Mau continued to improve the layout of the whole industrial chain of fruits and achieved rapid revenue growth by reinforcing the advantages in its supply chain and the core products strategy. Joyvio's brand influence further expanded and successfully achieved product diversification. As prices in the international market continue to rebound, Joyvio Food's salmon business gradually recovered, while actively promoting the development of value-added 3R products and expanding diversified sales pipeline; the original business continued to maintain its leading position in the industry. In addition, some equities in investee enterprises were sold to further focus on the core business.

In 2020, Legend Holdings took its first strategic stake in Fullhan Microelectronics, laying out the semiconductors track, and as of June 30, 2021, Legend Holdings, as the largest shareholder, holds an aggregate of 15.91% equity in Fullhan Microelectronics through its subsidiaries. Fullhan Microelectronics is China's leading company specializing in the design and development of chips for video-based industries. Fullhan Microelectronics reported revenue of RMB 718 million, a year-on-year increase of 154.37%, and net profit attributable to shareholders of the listed company of RMB 139 million, a year-on-year increase of 215.67%, its 1H2021 results report showed. The robust results significantly drove the growth in its market cap. Semiconductors and integrated circuits are among the fields that Legend Holdings has been keeping its eyes on for a long time. The Company will engage with the Fullhan Microelectronics management team for deeper cooperation to jointly promote the long-term development of Fullhan Microelectronics.

Legend Holdings, during the Reporting Period, further strengthened its industrial operation capability and gained profit in all business sectors. Strategic Investments' net profit attributable to equity holders of the Company increased by approximately RMB 3 billion year-on-year. For the advanced manufacturing and professional service segment, its revenue was up by 46% year-on-year to RMB 3,894 million, and net profit attributable to the equity holders of Legend Holdings increased by 108% year-on-year to RMB 794 million. Eastern Air Logistics (EAL) was listed on the Shanghai Stock Exchange on June 9,-which was the first civil aviation enterprise included in the first batch of domestic pilot enterprises under the mixed-ownership reform-making it a successful case of the "two-wheel-drive business model" of the Company. During the Reporting Period, given the change of market demand, EAL increased its investment in air cargo capacity, expanded the cooperation channels for air cargo capacity and furthered building of "port to port" product system, strengthening customer development and improving service experience, enhancing business results to achieve a year-on-year growth in its results. The financial services segment recorded revenue of RMB 3,141 million and net profit attributable to the equity holders of Legend Holdings of RMB 318 million, excluding the impact of the one-off loss from share dilution of Hankou Bank, and the disposal and impairment loss of Kaola Technology, net profit attributable to the equity holders of Legend Holdings grew by 20% year-on-year. Zhengqi Holdings constantly implemented the business model of "investment-loan linkage", and focused on strategic emerging industries and the ecological chain. Lakala Payment exerted more efforts for product innovation and market development, maintained steady growth in the size of payment transactions and revenue, and the income from technological services continued to grow rapidly. JC Finance & Leasing developed steadily, and its net profit increased by 44% year-on-year. Hyundai Insurance constantly explored product and service innovation. It reported approximately RMB 334 million of accrued income from insurance premiums, an increase of 410% year-on-year. The adverse impact of the COVID-19 pandemic on innovative consumption and services has been largely offset, with the revenue for the Reporting Period rising by 103% year-on-year to RMB 533 million and net profit attributable to equity holders of Legend Holdings of RMB 67 million. In order to cooperate with national policy orientation, Better Education provides inclusive pre-school education services. Shanghai Neuromedical Center continuously promoted the development of competitive neurosurgery and other comprehensive departments and its management and services were further improved.

Fund-raising, investment, management, and exiting from projects under management of financial investments in an orderly manner, continued contribution of solid cash flow

China's economy constantly recovered, and the capital market progressed strongly in the first half of 2021. Funds under Legend Holdings demonstrated outstanding results. Multiple enterprises under management went public. Fund-raising, investment, management, and exiting from projects under management were conducted comprehensively and orderly. More than 60 projects were fully or partially exited, contributing more than RMB 2 billion of cash flow.

Legend Star managed eight funds with a size exceeding RMB 3.3 billion, investing in more than 300 domestic and overseas projects accumulatively. During the Reporting Period, Legend Star's total number of investment projects was over 20, covering different niche segments, such as cutting-edge technology, biotechnology, digital medicine, and TMT. Among the projects under management, it made follow-on investments in approximately 50 projects and exited 15 projects. As of June 30, 2021, the final closing of the 4th USD fund was completed as well as the first round closing of the biotechnology fund.

Legend Capital managed a total of 28 funds, with a size of more than RMB 60 billion. As of June 30, 2021, the total amount raised by the funds was RMB 6,335 million. During the Reporting Period, Legend Capital accumulatively completed 20 new project investments, covering startup stage and growing-stage enterprises in the TMT and innovative consumption, healthcare, corporate services and intelligent manufacturing sectors. It fully or partially exited 33 projects, bringing sound cash returning. As of June 30, in total, 90 of Legend Capital's portfolio companies went public (not including those listed on NEEQS).

Hony Capital's businesses cover PE, real estate, public offering fund management, hedge fund, and venture capital. The AUM amounted to RMB 100 billion. As of June 30, Hony Capital managed 13 funds. Besides, Hony Horizon Fund Management Co., Ltd., a public offering fund management company under Hony Capital, managed seven funds. During the Reporting Period, Hony Capital proceeded with new investment projects in various business segments and progressively made follow-on investments in existing projects. Certain portfolio companies went public, and Hony Capital also actively exited projects, thereby contributing constant and steady cash returning to Legend Holdings.

Legend Holdings and its three fund platforms have paid attention to and invested in the high-tech industry for a long time, accumulating considerable assets. More than 20 portfolio companies were included in the list of National "Little Giants with Specialties, Refined Products and Management, Unique Technologies, and Innovation" announced by the Ministry of Industry and Information Technology of the People's Republic of China (MIIT), such as Fullhan Microelectronics, Gocom Information Technology, QuantumCTek, Sansure Biotech, Hanshow Technology, MNCHIP, INST magnets, Faith Long Crystal, LEADMICRO, Zonsen Biotech, CAXA, YUNJI Technology and so on. These companies will embrace a broad development space, as they feature remarkable results, high technology, and strong market competitiveness, and suit the trend of industrial upgrading in China.

Capital operation continued to advance, multiple portfolio companies successfully listed

The strategic investment and financial investment fund platforms under Legend Holdings continued to promote capital operation during the Reporting Period. As of June 30, 2021, 12 portfolio companies including EAL got listed, and at least 11 are promoting the IPO.

Chemclin Diagnostics Corporation, a project in the biomedical field invested by Zhengqi Holdings, was listed on April 9. Gocom Information Technology entered the capital market on June 28, becoming the first stock of industrial railway signal control and intelligent scheduling in China. Meanwhile, the IPO of a number of Zhengqi Holdings' investee companies was being processed or to be submitted. In addition, Golden Wing Mau and Hankou Bank are orderly preparing IPO.

In terms of financial investment, Conmed Biosciences, invested by Legend Star, issued its IPO in Hong Kong on July 8. Ten enterprises under the management of Legend Capital went public during the Reporting Period, such as CareRay Digital Medical Technology Co., Ltd., Beijing Kawin Technology Share-Holding Co., Ltd., NexImmune, Inc., and New Horizon Health Limited and so on. Besides, Dindong Shopping, invested by Hony Capital, issued its IPO during the Reporting Period.

Mr. Ning Min, Chairman, and Executive Director of Legend Holdings, said that, "In the first half of 2021, in the face of the complicated internal and external environments, Legend Holdings grasped the new development pattern with the domestic cycle as the mainstay and the domestic and international cycles promoting each other, seized the historical opportunities given by the new era, made steady progress and breakthroughs, and achieved good results, which also laid a more solid foundation for the long-term development of the company. In the meantime, the Company has always attached great importance to corporate social responsibilities from a strategic perspective, adhered to the mission of 'serving the country through industrial development', and upheld the concept of 'people orientation'. It is our first priority to develop our business in the direction adhered by the state, and to continue to promote win-win development of China's real economy, entrepreneurship and innovation through our own industrial accumulation and unique business model to create better economic and social benefits; the Company will pay constant attention to the environment and energy and support its subsidiaries to play a leading role in green energy conservation and environmental protection; we will continue to insist on social welfare investment, including entrepreneurial help, education and poverty alleviation, promoting righteousness and responding to natural disasters, while fully studying and combining with national needs to deepen its practice and make greater contributions to the promotion of social justice, common prosperity and the high-quality development of China's economy as well the China's journey towards realizing the second centenary goals."

About Legend Holdings Corporation
Legend Holdings Corporation is a leading industrial investment and operations company in China. It builds up a unique two-wheel-drive business model of "strategic investments + financial investments" and focuses on the real economy and scientific & technological innovation areas. Through value creation and value discovery, the Company cultivates and manages an outstanding asset portfolio with growth potential, driving sustainable value growth. Strategic investments aim at holding over the long term and focus on strategic segments to cultivate and optimize the portfolio while fostering pillar businesses. Through strategic investments, the Company invests in five segments, namely IT, financial services, innovative consumption and services, agriculture and food, and advanced manufacturing and professional services. Financial investments are driven by financial returns with a proper mix of products and target portfolios, and include angel investment, venture capital and private equity investment, creating a holistic financial investment industrial chain. Based on the in-depth understanding of economies and enterprises, Legend Holdings has concluded its distinctive investment concepts and management system. Through forward-looking layout, clear investment strategies and sustained management & value-added services, Legend Holdings has cultivated a number of influential outstanding enterprises in several sectors.

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

ZALL Smart Commerce Group (2098.HK) increased revenue by 40.3% in 1H2021, aims for RMB100 billion on year

SINGAPORE, Sep 1, 2021 – (ACN Newswire) – ZALL Smart Commerce Group (ZALL; 2098.HK), Asia's largest B2B e-commerce group, today announced its results for the first half 2021 (January 1 – June 30, 2021). ZALL's revenue rose by 40.3 per cent year-on-year to RMB 50.16 billion (US$7.76 billion), on the back of stronger Group operating capacity. Gross profit rose to RMB 607 million (US$93.96 million), an increase of 8.1 per cent year-on-year, and profitability remained stable.

Revenues from ZALL's offline wholesale markets and online Industrial Internet platforms such as Shenzhen Sinoagri, ZALL Steel, and Huasuhui steadily increased, benefitting from the gradual increase of services in ZALL's ecosystem, spanning wholesale trade markets, agriculture, steel, plastics and chemicals and other industries. Supply chain services such as finance, warehousing, and logistics also continued to empower upstream and downstream customers in the industry value-chain, laying a solid foundation for rapid growth.

Previously, ZALL embarked on a new strategic rebrand and is committed to becoming the world's largest digital trade platform. The Group looks to incorporate "New Trading Methods" and use advanced digital technologies, such as Big Data, Artificial Intelligence and Blockchain to achieve this goal.

Mr Qi Zhiping, CEO of ZALL Smart Commerce Group said: "ZALL will focus on innovation and the development of digital trade, leveraging data as the driving force to build a new B2B digital trade ecosystem and improve the efficiency of the industrial chain."

New brands, New directions, New trends

During the first half of 2021, the Group saw a growth in customer loyalty as its industry vertical platforms such as Shenzhen Sinoagri, ZALL Steel, and Huasuhui expanded into subcategories to provide practical, efficient and convenient supply chain services for upstream and downstream customers in the industry value-chain:

– Shenzhen Sinoagri has been enhancing their online trading of cocoon silk, sugar, and expanded to include live pigs, corn, coffee and other product categories.
– ZALL Steel has successfully passed the CMMI3 international certification, and its SaaS cloud service was significantly upgraded.
– ZALL Steel Warehouse (Fengshan Port) was successfully inaugurated, and its supply chain service system was gradually improved.
– Huasuhui's supply chain financial service "Plastic Loan" celebrated its first anniversary since its launch and has helped nearly a thousand Micro-, Small- and Medium-Enterprises (MSMEs), enabling a coordinated development ecosystem of industry and finance.
– Leveraging the service capabilities of ZALL's intelligent trading ecosystem to interconnect domestic and international resources, Zallgo facilitates commodity trade flow between wholesale markets and commodities, creating a trillion-level market of commercial tools through digital empowerment, and is committed to becoming a super portal for industrial Internet transactions and services.
– ZALL's offline flagship project, North Hankou International Trade Centre ("North Hankou") actively promotes the integrated development of traditional commerce and live streaming e-commerce. The industry ecology of the live-streaming trade has started to develop, with orders happening at major specialised trading markets in an orderly manner, and the construction of 12 major projects of Wuhan International Trade City progressing smoothly after its upgrade. North Hankou is overall ranked second among China's commercial markets, and is China's largest and the world's leading commercial and logistics platform.

ZALL has also established integrated online and offline development while contributing to China's economic circulation. As a leader in global digital trade, ZALL established ZALL International Trade Group to service MSMEs that is committed to becoming a large-scale comprehensive import and export trade group that "buy from the world and sell to the world". Its principal businesses include operating the national pilot market for foreign trade, comprehensive foreign trade services, and import and export trade. The Group's commodities marketplace, Commodities Intelligence Centre (CIC) uses blockchain technology to provide one-stop cross-border B2B trade to support the entire process of commodity-related transactions, helping companies uncover new business opportunities, reduce transaction costs, and achieve greater trading synergies globally.

ZALL's robust strategic layout and strong operating capabilities are highlighted in the integration of domestic and foreign trade, both online and offline, and the construction of an efficient supply chain service system. During the first half of 2021, ZALL continues to provide services such as smart warehouse logistics and supply chain finance. Powered by information technology, smart warehouse logistics uses Internet of Things (IoT) to integrate automation, informatization, and Artificial Intelligence (AI) technologies for cargo delivery and storage applications, and has helped companies to reduce costs and increase efficiency. Supply chain financial services such as "factory loans" and "supply-guaranteed E-loans" use real-trading scenarios to promote enterprise innovation through the integration of industry and finance, optimizing the overall capital flow of the industrial supply chain, and improving circulation efficiency.

In addition, ZALL is committed to help companies kickstart their business growth through data technology. During the first half of the year, Wuhan City announced their first batch of 271 digital economy application scenario projects. Two solutions developed by ZALL Research Institute, a subsidiary of ZALL, were selected. They include "Banking Financial Product Data Mutual Trust Project based on Low Code Blockchain Solutions" and "Data Cross-Chain Platform based on Privacy Protection". This has further enhanced commercial efficiency in the digital realm.

Coupled with its Corporate Social Responsibility (CSR) efforts, as well as its extraordinary achievements in promoting the digitalisation of traditional enterprises, ZALL has been growing its influence in the field of digital trade for many years. These accomplishments have been widely recognised by the government, financial and industry leaders, media and the general public. During the first half of 2021, ZALL has consecutively won the best new economy award; the most value-added company award; Top 10 listed China Industrial Internet companies; Top 100 in China Industrial Internet (Industrial Digitalization); Hubei's Best Hong Kong Stock Listed Company among other awards, and was ranked 155th in the Fortune China 500 list in 2021.

In 2020, ZALL achieved a revenue of RMB 72.769 billion (US$11.27 billion), in line with expectations. With steady growth of 40 per cent in 2021, ZALL is expected to achieve RMB 100 billion (US$15.49 billion) in revenue this year and reach the top echelon of the industrial digital trade industry. Through this process, ZALL intends to emerge as a leader in new trading methods, while maximising the value of digital trade, and becoming the world's leading digital trade platform.

About ZALL Smart Commerce Group

ZALL Smart Commerce Group is a leading Chinese B2B e-commerce group (ranked 155th of Fortune China 500 companies) with a truly global footprint, and its companies trading worldwide: HKSE, NYSE, SSE and SZSE. ZALL Group develops and operates Asia's largest B2B offline-to-online trade ecosystem, in China and Southeast Asia, including Singapore, with more than 30 B2B platforms in China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL Group achieved a GMV of more than RMB 600 billion (US$85.2 BN), serving over 1 million SME customers worldwide. ZALL has also obtained a virtual banking licence and currently operates Z-Bank in China since 2017, one of China's Top 5 digital banks that has supported more than 5.5 million SME and individual customers.

Since 2018, ZALL has invested in five projects in Singapore, including the Commodities Intelligence Centre (CIC), Singapore's first physical commodity eTrading platform (B2B) powered by blockchain technology; ezbuy.sg, Singapore's leading global online shopping platform; ZMA Smart Capital, an online trade finance company; ZALL Chain Technology, a blockchain solutions company.

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

Honghua Group Announces 2021 Interim Results

HONG KONG, Aug 31, 2021 – (ACN Newswire) – The world's leading onshore oil rig supplier Honghua Group Limited (Ticker: 196.HK, "Honghua" or "the Company") today announced unaudited consolidated interim results for the six months ending on 30 June 2021 ("the period").

In the first half of 2021, oil and gas companies were reluctant to increase upstream investment despite the gradual increase in oil prices, and capital expenditure did not return to the pre-pandemic level. As a result, it takes a while for overseas sales of drilling rigs and other equipment to recover. During the period, the Company's revenue decreased 14.1% year-over-year from RMB1.807 billion to RMB1.552 billion in the first half of 2021. Gross profit was approximately RMB318 million, representing a decrease of 47.6% from RMB608 million for the same period last year. The loss attributable to shareholders of the company was approximately RMB73 million.

Oil and gas engineering services expanded with remarkable overseas business growth

Honghua began to provide oil and gas engineering services in Middle East in 2012, and Honghua oil service team HH029 became the only operation team in Zubair oil field that never suspended operation during the COVID-19 outbreak. With excellent operating capacity, Honghua signed long-term service contracts with various internationally renowned oil service enterprises. Regarding the overseas market, in the first half of the year, the value of new orders signed for overseas oil and gas engineering services of Honghua amounted to about US$120 million. The rig service agreement with Schlumberger has a term of 54 months, the longest service term in the oil service history of Honghua, and is the highest value contract Honghua has signed. The project is expected to commence successively in the second half of the year, which will generate stable and continuous cash flow for Honghua.

Enhanced leading position in fracturing market with digitalization of electric fracturing equipment and services

Honghua's all-electric fracturing has been widely recognized in the market, with a year-on-year increase of 41% in the number of newly signed orders for fracturing engineering services and a year-on-year increase of 24% in the number of newly signed orders for pumping services. In the first half of the year, Honghua provided 2,539 stages of pumping services, representing an increase of 26.4% as compared with the same period last year, despite a large service base. In response to the digital development trend in the industry, Honghua promotes the upgrading of the whole-process electric automation of equipment. Honghua became the first company in China to use the fully electric automated fracturing technology, and has established a digital fracturing simulation laboratory. In terms of fracturing equipment for unconventional oil and gas development, Honghua carried out a comprehensive digital upgrade of electric fracturing pumps and related equipment, and sold the upgraded equipment with sales of approximately RMB250 million. In line with the concept of "all-electric, intelligent fracturing", Honghua launched the first electric coiled tubing unit in China, and it began the sale of the new product after industrial testing. Compared to the traditional diesel coiled tubing unit, the electric coiled tubing unit features excellent performance and efficiency, a high degree of automation and strong synchronous control.

Continued to focus on "equipment to parts and components" strategy, steady growth in equipment market

Under the trend of global energy transition, Honghua continued to implement the strategy of "equipment to parts and components" and focused on providing more tailored services to clients. During the Period, Honghua launched the first automatic machine tool system with "one-key linkage" in China, which has been successfully tested at PetroChina and Sinopec and has been recognized by customers. Meanwhile, breakthroughs have been made in the sales of a number of new products launched by Honghua: the first deployment of a 1600HP mud pump unit on an offshore drilling platform, a series of signing new orders for new-generation five-cylinder pumps, the sale of fracturing sets, and the signing of orders for the rotary running casing.

Outlook

In the second half of 2021, supply and demand in the oil and gas market will be in a tight equilibrium due to expected subdued production growth from OPEC+, slow recovery of shale oil and gas production in the United States and recovery of oil and gas demand. As oil prices remain at mid-high levels, upstream capital expenditure is expected to recover gradually, and the equipment market that lags the recovery of the oil price will rebound in the near term. Honghua will continue to fully play the role of a leading drilling rig company, and promote the transformation and sales growth of complete drilling rigs product set overseas from the aspects of service and equipment upgrading. With its technological research and development advantages, Honghua will accelerate the automation and intelligent iteration of drilling and fracturing equipment, actively promote the sales of new products including "one-key connection" automatic machine tool system, electric coiled tubing and new-generation five-cylinder pumps. In response to China's goal of reaching carbon emissions peak, carbon neutrality and national energy security, Honghua will seize the opportunities around electric development in the unconventional oil and gas market in China and focus on shale oil and other markets with great development potential.

About Honghua Group Ltd
Honghua Group Ltd (Stock Code: 0196.HK, "Honghua") is the main platform for energy equipment development of China Aerospace Science & Industry Corporation ("CASIC"). As one of the leading land drilling equipment manufacturers in the world and the largest land drilling rig exporter in the PRC, Honghua is primarily engaged in developing and manufacturing land drilling equipment (drilling rigs, parts and components as well as downhole tools, etc.), completion products (including fracture package), offshore drilling module and package as well as shale gas and oil exploration and development service. Leveraging strong R&D capability, high-quality production facilities and a mature international sales network, Honghua's products have been sold to a large number of famous enterprises all over the world, across major oil-production regions such as North America, the Middle East and emerging markets including South America, South Asia, Russia, Central Asia and Africa. In the future, Honghua will continue to focus on its key businesses while increasing the resource allocation to unconventional oil and gas business and the "energy + internet" field. Honghua aims at becoming a world leading oilfield service provider.

This press release is issued by ICA Investor Relations (Asia) Limited on behalf of Honghua Group Co., Ltd. For any enquiries, please contact:

ICA Investor Relations (Asia) Limited
Tel: +86 (21) 8028-6033
E-mail: honghua@icaasia.com

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Quantum Solutions’ Capital Alliance Partner Applies for IPO in Hong Kong

HONG KONG, Aug 30, 2021 – (ACN Newswire) – According to the announcement dated in respect to "Notification for Change in Use of Fund by the Capital Partnership and the 2nd Series of Unsecured Convertible Bond with Stock Acquisition Rights", Quantum Solutions, through Asia TeleTech Investment Limited, an indirect wholly-owned subsidiary, invested in Limited Partnership ("LLP") which in turn has invested in SenseTime Group Inc. ("STG"). The Group noticed that STG had filed an initial public offering (IPO) application with The Stock Exchange of Hong Kong Limited on August 27, 2021.

Details of this IPO will be disclosed as soon as possible after confirmation.

Quantum Solutions Co.,Ltd. Company Summary
Company name: Quantum Solutions Co.,Ltd.
(Second section of the Tokyo Stock Exchange Stock code: 2338)
Address: 102-0073. Kudan VIGAS Bldg. 3F, 1-10-9 Kudan Kita, Chiyoda-ku, Tokyo, Japan
Representative: SHAO YUN, Chairman of the board
Capital: 2,559 million yen
Businesses: Content development and distribution Software development
Company URL: https://www.quantum-s.co.jp/en/

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

The Executive Centre Expands Its Central Footprint With The Help Of CBRE By Securing Prime Space In AIA Central

HONG KONG, Aug 26, 2021 – (ACN Newswire) – As demand for flexible workspaces in Hong Kong continues to grow, Asia's leading premium flexible office solutions provider, The Executive Centre (TEC), is expanding its portfolio in the City. Assisted by CBRE Hong Kong, the company has secured another prime location in Central to satisfy rising demand for top-tier flexible workspace.

AIA Central, 1 Connaught Road, Central, Hong Kong

The Executive Centre

"This modern, flexible and well-equipped workspace situated in a highly desirable location will be an attractive proposition for clients, particularly those in the financial services sector," says Ada Fung, Executive Director, Head of Advisory & Transaction Services – Office Services, CBRE Hong Kong. "We're delighted to have played an important role in securing the entire 15th floor of AIA Central at 1 Connaught Road, encompassing approximately 15,000 sq. ft. of lettable space."

Nadia Zhu, Regional Managing Director of Hong Kong, Macau and Taiwan of The Executive Centre, is excited to be adding another prime Grade-A office space to the company's existing portfolio, and to offer turn-key office space solutions to a wider audience with the aim of empowering productivity and facilitating meaningful business collaboration.

"At TEC, we're confident that Hong Kong will remain a key global business hub for years to come. As a business that has over 25 years of operational experience, we are committed to both continuing our growth and supporting our clients as they grow. Each of our Centres offers a prestigious address with advanced infrastructure such as private offices, business concierges, meeting rooms, coworking spaces and event spaces to meet our clients' every business need," said Nadia Zhu.

The future of work is shifting to a more hybrid model, and flexibility is essential for future workspace strategies. Flexible workspaces such as the new TEC Centre at AIA Central opens up the possibility for an agile, mobile and reactive workforce, which in turn bolsters business resiliency. Once the new location at AIA Central opens in November 2021, TEC will have 11 Centres in Hong Kong totaling over 232,000 sq. ft. of floor space. The company's seven locations in Central, including One IFC and Hong Kong Club Building, were also secured by CBRE previously.

The new TEC office space at AIA Central will embrace a new design direction by designer Fiona Hardie ID, featuring a neutral hue of white and grey. Minimalist details and clean lines combining with organic profiles will provide a sense of fluidity and movement to the workspace, while the mixed use of marble, timber, satin nickel, and gently textured hand applied wall finishes will add details to the beautiful contemporary workspace.

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

About The Executive Centre
The Executive Centre (TEC) opened its doors in Hong Kong in 1994 and today boasts over 150+ centres in 32 cities and 14 markets. It is the third largest serviced office business in Asia with annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organization to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organizations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business' needs.

For more information, please visit www.executivecentre.com

Follow us on Instagram: https://www.instagram.com/theexecutivecentre/
And on LinkedIn: https://www.linkedin.com/company/the-executive-centre/

Contact:

Cora Lai
Communications Manager
Marketing & Communications
Hong Kong
(+852) 2820 1466
cora.lai@cbre.com

Pebble Lee
Global Public Relations Manager
The Executive Centre
(+852) 3951 9530
pebble_lee@executivecentre.com

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Novaliches-Balara Aqueduct 4 Project in The Philippines Successfully Completed Tunnel Breakthrough

HONG KONG, Aug 25, 2021 – (ACN Newswire) – Chun Wo Construction Holdings Company Limited ("Chun Wo"), a subsidiary of Asia Allied Infrastructure Holdings Limited (stock code: 00711), is pleased to announce that the contract of Novaliches-Balara Aqueduct 4 ("NBAQ4") project in the Philippines has completed breakthrough on 14 August and the online Breakthrough Ceremony was held in the morning. This marks an important milestone for Chun Wo as it is the first project for the company in the Philippines and is part of the strategy of tapping into the Southeast Asia market. The PhP 5.3 billion NBAQ4 project is one of the largest water supply infrastructure projects ever undertaken by Manila Water Company, Inc. ("Manila Water") and is the first in the Metro Manila Area to employ a tunnel boring machine ("TBM"). Upon completion, the new aqueduct is expected to improve the reliability and security of the raw water transmission system in the eastern portion of Metro Manila. Chun Wo has participated as part of the Novabala JV Corp. (NBJVC) which also includes First Balfour, Inc. (Philippines) and CMC di Ravenna (Italy). In August 2017, it signed the design-and-build contract for the aqueduct project – a collaboration among Manila Water, Metropolitan Waterworks and Sewerage System (MWSS), NBJVC, and Arup.

Tunnel Boring Machine "Dalisay"

Mr. Boyd Merrett, Acting Chief Executive Officer of Chun Wo, said, "We are proud to contribute to the construction of the Water Conveyance Network in Manila through leveraging our experience in tunnelling and complex engineering projects. In view of local constraints, which include traffic congestion and relatively limited construction techniques available, we explored different construction methods from the commencement of the NBAQ4 design and build contract with Manila Water back in 2017. We subsequently developed innovative solutions with use of a specially designed Earth Pressure Balance (EPB) TBM that features a double articulated shield to navigate 80m radius curves, and development of a special pre-cast ring design. We look forward to the completion of the NBAQ4 project which shall improve the reliability and long-term water supply to the most densely populated areas of Metro Manila."

The NBAQ4 project is part of Manila Water's improvement and expansion initiatives. It encompasses the East Concession Area and is in coordination with the MWSS. The project involves the construction of a new intake facility at the La Mesa reservoir – a 7.3-kilometer underground aqueduct passing under Commonwealth Avenue, and an outlet facility at the Balara Water Treatment Plant. Upon completion in 2022, the new aqueduct will be capable of delivering an additional 1,000 MLD (Million liters per day) to the existing water treatment plants, ensuring the reliability and security of the raw water transmission system in Metro Manila.

Chun Wo Construction Holdings Company Limited
Chun Wo Construction Holdings Company Limited ("Chun Wo") was founded in 1968 and is a key subsidiary of Asia Allied Infrastructure. The Company is principally engaged in the construction and property development businesses and possesses the professional capabilities to undertake large-scale integrated construction projects. Recent examples of large-scale infrastructure projects that it has undertaken in Hong Kong include the Central-Wan Chai Bypass, Liantang/Heung Yuen Wai Boundary Infrastructure, Hong Kong-Zhuhai-Macao Bridge Passenger Clearance Building, Guangzhou-Shenzhen-Hong Kong Express Rail Link (Hong Kong Section) and MTR Shatin to Central Link. With deep roots in Hong Kong and an operation history stretching over 50 years, Chun Wo has accumulated extensive experience and a strong position in the construction sector, enabling it to expand its business to countries along the "Belt & Road" route in Southeast Asia. Examples of such expansion include the acquisition of a construction and engineering consultancy in Singapore, and the undertaking of waterway bridge design and construction projects in the Philippines in recent years.

Asia Allied Infrastructure Holdings Limited (stock code: 00711.HK)
Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure") is listed on the Main Board of the Hong Kong Stock Exchange under stock code 00711. The Group operates businesses such as construction engineering and management, property development and assets leasing, security and facility management, tunnel management, as well as non-franchised bus services. Its subsidiary "Chun Wo" is a renowned construction contractor and property developer in Hong Kong. Chun Wo's solid construction experience and professional capabilities have enabled the Group to seize suitable development opportunities, allowing the Group to enhance its overall profitability and investment value.

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

Comtel Rebrands to Quess Singapore with Focus on Local Job Creation in the City

Singapore, Aug 24, 2021 – (ACN Newswire) – Quess Corp, one of the world's leading Business Service Providers, today announced that Comtel Solutions, the leading tech talent solutions Company in Singapore, and an affiliate of Quess Corp, has now become Quess Singapore and will operate as fully owned Singaore entity.

An affiliate of Quess Corp Limited, Comtel has been in business for over a decade and has expanded across the Asia Pacific and several industry verticals and sectors such as Banking, Hi-Tech Manufacturing, Telecommunication, Logistics, and Healthcare Industries. The company which partners with global market leaders, including Fortune 100 companies for services, solutions and focussed executive searches for technology staff, has been a part of Quess Group for five years and will continue to maintain its industry leading status in Staff augmentation in Singapore.

Since the beginning of the pandemic, Quess Corp has been tirelessly working with a mission to help hire skilled and productive workers who are equipped to meet the dynamic market requirements of their clients across sectors. Quess has made significant investments in technology across the hire to retire cycle to provide manpower services that are already trusted by several customers globally. Its thrust on developing tools to improve productivity of frontline workers and boost employee engagement is helping create a grey collar/semi-skilled workforce that is more efficient and future-ready.

The workforce landscape is going through a massive change as talent and skills become the most important currency for organisations to drive growth and establish value differentiation. Through re-branding Comtel to Quess Singapore, the company aims to better communicate the breadth and scale of expertise that Quess truly represents.

Speaking on the company's refreshed branding, Vikas Srivastava, Country Manager, Quess Singapore said, "COVID has completely made everyone re-think their talent strategy as companies now move to a more hybrid and asynchronous workforce that will help them make the most of the disruption to the labour economy to best meet their growth ambitions. Over the last few years, our technology-enabled solutions have been making search, selection, and management of contingent workforce easy in Singapore. With this new identity, we are confident of providing associates working for our clients with more career-enhancing opportunities through our ever-growing partnership with leading learning and development providers for their re-skilling and upskilling needs. This apart, we will help our clients manage and increase the productivity of their grey collar/semi-skilled workforce more effectively by introducing metric-driven, technology-led management through integrating our in-house mobile WorQ App into our standard offering."

As one of the world's leading Business Services Providers, Quess is known for its many milestones over the last 14 years; one of them being the fastest to become part of the coveted list of top 50 largest Global staffing suppliers ranked by Staffing Industry Analysts (SIA).

Commenting on the potential in local market, Quess Corp CEO APAC Mr. Sandeep Sharma said, "We are focussed on "Thinking Global Acting Local". The focus of Quess Singapore – is to be No-1 workforce solutions partner for clients in Singapore and the most preferred employer for associates and candidates. We will be more agile, technology-enabled, and look forward to boosting local employment. We are at the forefront of providing innovative workforce solutions to our larger customer base in South East Asia and stand by our mission of "Winning Together – In our client's win lies our win" and bring it to fruition. We aim to transition to our new brand identity with the reassurance of consistent and efficient service delivery with no disruptions while looking forward to continued support from our existing clients."

About Quess Corp

Established in Bengaluru in 2007, Quess Corp Limited (BSE: 539978, NSE: QUESS) is India's leading business services provider – leveraging its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions. Quess provides a host of technology enabled staffing and managed outsourcing services across processes such as sales & marketing, customer care, after sales service, back office operations, manufacturing, facilities and security management, HR & F&A operations, IT & mobility services etc. Quess has a team of ~369,000 employees, serving ~3,000 clients across India, North America, APAC and the Middle East as on 31st July 2021.

Media contacts:
Namrata Sharma – namrata.sharma@adfactorspr.com
Neha Chaturvedi – neha.chaturvedi@adfactorspr.com

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

HKIoD Global Webinar Series Supports More Women on Boards

HONG KONG, Aug 19, 2021 – (ACN Newswire) – The Hong Kong Institute of Directors ("HKIoD"), together with The Institute of Directors South Africa, Institute of Directors New Zealand, Mauritius Institute of Directors, GCC Board Directors Institute and Caribbean Corporate Governance Institute, have jointly organised and concluded a global online conference series that addressed key themes of women in director positions.

The "Women in Governance" series, running through July and August and attracting 500 directors, both men and women registered from around the world, discussed the crucial roles women directors play, their value, and how society can support more women in director positions. The series was divided into three webinars including, "Corporate Governance and Why Gender Matters", "Women on Boards" and "Corporate Governance Policies that Support Women".

The three-event nine-hour conference featured 31 speakers, both men and women, and the hosting chief executive officers of the six organiser institutes, who are all women. As the organiser institutes took turns to present speakers, HKIoD played host to the second-half session of the final event with Ms Ada Chung, Privacy Commissioner for Personal Data, Hong Kong as keynote speaker. The Hong Kong panel was moderated by HKIoD Deputy Chairman Ms Bonnie Chan, and consisted of speakers Ms Katherine Ng, who is Chairman of Hong Kong Securities and Investment Institute and also Chief Operating Officer and Head of Policy and Secretariat Services of the HKEX Listing Division, Mr Andrew Weir, Senior Partner Hong Kong and Vice Chairman of KPMG China, and Ms Clara Chan, CEO of listed company Lee Kee Holdings Limited.

On the objective of the conference series, HKIoD CEO Dr Carlye Tsui remarked, "We are all aware of the benefits of gender diversity. Though there has been progress on gender diversity on boards, many companies are still behind in taking action. Women should also upskill themselves and make the most of opportunities. The 'Women in Governance' series is a great example of the kind of global conversations needed to ensure we see real change at the board level." Referring to HKIoD's long-established community-wide project in the selection of Directors Of The Year, she pointed out that boards are assessed on, inter alia, board diversity, which notably includes gender diversity.

In her keynote address, Ms Ada Chung observed that globally women on boards increased from 10% in 2010 to over 20% in 2020, according to a study by Morgan Stanley. She cited recent research findings by McKinsey that the most gender-diverse companies outperformed the least gender-diverse companies by a substantial 48%. She also noted an encouraging trend of women taking up senior leadership positions in Hong Kong.

On policies to increase women's participation on corporate boards, Ms Chung said, "This can be driven by governments, regulators and companies themselves. One of the most 'straightforward' and arguably highly effective measures, is to set a mandatory gender quota for board composition." She cited the government policy of a gender benchmark for the membership composition of statutory boards and advisory committees, which facilitated the achievement of 34% of appointed non-official members in statutory and advisory bodies being female by the end of 2020.

Ms Chung cited other policies facilitating appointment of women on boards, including transparency in reporting, internal support to develop a pipeline of potential successors to the board, gender diversity targets or gender-balance KPIs in human resources, leadership training and mentorship programmes to prepare women for board membership and support of working mothers.

As for boosting Hong Kong's status, panel moderator Ms Bonnie Chan remarked, "Hong Kong is an international finance centre that has been advocating diversity and inclusiveness. We are fortunate to be able to operate, value and uphold a fair and competitive marketplace in Hong Kong. However, we should not take things for granted as we continue with our long march for diversity and inclusiveness."

Panel speaker Ms Katherine Ng spoke on the evolutionary ESG journey of listed companies under HKEX regulations, specifically covering diversity and inclusiveness. She noted that currently over 800 listed issuers out of the total of 2,500 have single-gender boards. HKEX's recent public consultation puts forth a proposal that includes a timeline to turn around single-gender boards. Ms Ng believes that companies should continuously review their board composition, given the dynamically changing business environment. On gender diversity, she is calling for not just aspirational statements but action. She said, "We are looking for 1,000+ board opportunities in the next three years. It is not an exercise of finding a token woman on boards but a match of skills. We want to have the right woman on the right board."

In his address, Mr Andrew Weir clarified for the global audience that Hong Kong's role as an international finance centre is still going strong, with the major advantages of rule of law, governance and quality directors. He mentioned governance as key to many issues faced by boards. He categorically said, "The diversity perspective needed at the board level has never been greater than now." On gender diversity of boards, he said, "The challenge is to get rid of those residual barriers on inclusion and diversity". He stated that people need to indicate whether they are setting targets and how they are getting to them. He said, "There is no shortage of candidates (for women directors). There is a shortage of agile thinking by the people who make the decisions." He sees that the aligned push of regulators and investors will accelerate the pace of increasing the number of women on boards.

Speaking from the perspective of a non-ferrous metals industry, Ms Clara Chan has witnessed substantial improvement in gender diversity, with the acknowledgement of women's proven ability and contribution. She is convinced that gender diversity at the board helps in better decision-making, taking up opportunities and enhancing creativity and innovation. Moving forward, she recommended enhancing culture building, communication channels and open mindset. On a certain global appeal for boards to comprise 30% women, she said, "The 30% target stimulates boards to think differently about the changing world after the advance of technology, the pandemic, etc. We need more new minds to offer a variety of perspectives. And the target is achievable".

Reiterating Hong Kong's status as an international finance centre, Ms Bonnie Chan said, "Our stakeholders do measure how Hong Kong performs vis-a-vis international benchmarks. If we are lagging behind in diversity, inclusiveness and sustainability, we will lose out in terms of our investment attraction as a financial hub."

Ms Ada Chung gave her final remarks, "There is no question whether we should go with diversity, but it is the question of how to realise it and how to do it better. In Hong Kong, although we haven't been making very good progress in gender diversity on boards over the past 10 years, I believe that we will make substantial progress in the next decade, given our strategic position, economic situation and the efforts of all of us."

Concluding the conference, Dr Carlye Tsui highlighted, "An astounding observation by a speaker in this three-part conference was that at the current pace, it would take over 100 years to catch up in engaging women on boards. With spreading and reinforcement of messages, culture building, policy setting and talent development, we can fast track the process of catching up. This conference series has issued a call for global attention and concrete action, with messages that are clear, vigorous, non-threatening, inspiring and convincing".

About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors ("HKIoD") is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information services and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. HKIoD is a member institute of the Global Network of Director Institutes, a worldwide alliance of 22 leading director institutes representing 150,000 directors.

http://www.hkiod.com
Tel: (852) 2889 9986 Fax: (852) 2889 9982

Media Enquiries:
The Hong Kong Institute of Directors
Joanne Yam +852 2889 1414 joanne.yam@hkiod.com
Odessa So +852 2889 4988 Odessa.so@hkiod.com

Strategic Public Relations Group Limited
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Chak Yau +852 2114 4395 chak.yau@sprg.com.hk

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