Diplomatic Posturing and the Power Game in Southeast Asia

Srinagar, Jammu and Kashmir, INDIA, Apr 26, 2021 – (ACN Newswire) – Dr Stephen R Nagy, in a recent interview by Mr Nadir Ali, Director of the Centre for Peace and Justice (JKCPJ), responded to the rising tensions in Southeast Asia and spoke of mitigating the cascading issue of asymmetry of power and economy in the region. In his opinion, the world is once again experiencing a great power competition, a competition that could cascade into conflict and catastrophe. Terrestrial land disputes have expanded to the maritime domain, with China having disputes with states in Southeast Asia, India, and Japan. Chinese efforts to dominate Southeast Asian Politics and redistribute power is placing the region into the position of trying to balance regional security interests and national security interests. China is effectively using its asymmetric economic relations with its neighbours to achieve its strategic security objectives which focus on territorial control and political deference by neighbours.

In response to the question of China's domestic legislation and its invention of historic claims and their role in China's foreign policy, Dr Nagy answered that with China's re-emergence as the dominant economy in the region, China has widened its claims on features in the South China Sea and islands in the East China Sea, many through domestic legislation and the invention of historic claims as tools to achieve foreign policy objectives. The effectiveness of domestic legislation by China in terms of securing its claims in the South China Sea and East China Sea is however debatable. Many such claims are not recognized by international bodies and courts such as the Permanent Court of Arbitration. One such claim in the South China Sea was ruled not legal by the Permanent Court of Arbitration in July 2016, in a case drawn upon by the Philippines.

China is using domestic legislation to expand its exclusive economic zones by creating municipalities at the edge of the South China Sea which gives a legal foundation to the exclusive economic zones. The impact of China's legislation is however small. A parallel can be drawn comparing control through domestic legislation between the Chinese claims in the South China Sea and the Japanese controlled Senkaku Islands. Japan has controlled the Senkaku Islands for over a century and there is continuity in that control via coast guard and environmental management, mostly and mainly through domestic legislation and international partnership; no such continuity of control with regard to the Chinese claim exists on the ground in the South China Sea.

The invention of historic claims by China as a tool for foreign policy is even more debatable and problematic. To analyze this, one must turn back the pages of history and search for signs of claims of sovereignty by China over the island territories in the South China Sea; no such claim can be found. Bill Hayton in his book "Invention of China", writes in detail how during the Ching (Qing) Dynasty, China showed no interest in the island formations in the South China Sea, whether the islands neighbouring Indonesia, Vietnam or the Philippines. China in the past has never set any claim of any of the island territories and thus the invention of historic claim is not only debatable but problematic as well. The UNCLOS treaty signed by 117 states which sets the 200-mile limit for Exclusive Economic Zones gives these countries a claim over the island formations in the South China Sea. UNCLOS however is not ratified by the US, which gives it a loose footing to enforce any such claims on China. This is despite the US conducting operations within the scope of the law.

Dr Nagy briefly touched on the role of ASEAN (Association of Southeast Asian Nations) and individual cooperation in establishing regional stability, and in his viewpoint, ASEAN could play a significant role in resolving territorial issues in Southeast Asia, but it is a loose association of nations and doesn't have the legal capacity to challenge and enforce its decisions on China. Hitherto, it has till now not played any decisive role. At the 2014 ASEAN Summit, a consensus was developed for a joint statement with regard to territorial disputes, however, Cambodia succumbed to influence from China, making a joint statement impossible. This fracturing of ASEAN unity and division of opinion is mainly achieved through aid and pledges to promote development; an example of how China uses its economic influence to shape the behaviour of neighbouring states.

With most of the ASEAN states not claimants in the SCS disputes, China has a free hand in manipulating the decision-making capability of ASEAN. The ASEAN members hold mixed views about China; some members perceive China as an economic opportunity and think that China is critical for the development of ASEAN member states, while others see China as a state having dominating and hegemonic interests in the region, thus the relationship of China and ASEAN will always be important but challenging. The main problem is the power asymmetry between China and the Southeast Asian nations. These nations seek strategic autonomy to resolve the South China Sea issues peacefully and effectively. The pattern we are seeing, at an individual level, is to bring an extra-regional power to the region to enhance the human capital and other capabilities so that they can push back unilaterally against some of the more assertive behaviour of China. This becomes more important for ensuring that the economic, political and national security interests of smaller nations are met and secured.

Dr Nagy then addressed the need to establish and maintain partnerships and the formation of Quad-like groups in restoring stability and balance in Southeast Asia and particularly the South China Sea, as Japan has been the most active in establishing strategic partnerships, by providing coast guard vessels, maritime domain awareness, and human capital to support individual members and enhance ASEAN's integration. Japan's role is even more important when it comes to the Chinese maritime militia (fishermen boat strategy), whereby the militia tries to instigate escalations that allow China to build an image seen as being defensive. The militia is used to build pressure on the states and in the case of the Philippines, China has already occupied some features in the South China Sea using these militia forces. The militia moves in and out of sovereign national waters, where every movement is planned in building a Lawfare strategy, as in the case of the Senkaku islands.

The US needs to designate a dedicated naval fleet for the South China Sea, so it has a constant presence 365 days a year. This would limit the influence of China in the region, restore the symmetry of trade relations to some extent and stop the undue exploitation of smaller states by the People's Republic of China. Naval cooperation and joint exercises in the South China Sea challenge China in particular when French and Canadian navies are involved. Quad and Quad-plus like cooperation is the way forward, however, this could lead to catastrophe if maritime management systems and communications channels are not established. China has to adjust to the presence of an extra-regional power in the South China Sea, and the US and allies have to work to keep China's assertive behaviour at bay while avoiding accidental conflict.

– Dr Stephen R Nagy is a Senior Associate Professor at the Department of Politics and International Studies, International Christian University, Tokyo. He is a Distinguished Fellow at the Asia Pacific Foundation (APF) in Canada, a Fellow at the Canadian Global Affairs Institute, and a Visiting Fellow at the Japan Institute for International Affairs (JIIA). He is currently working on 'Chinese Perceptions of Japan's Foreign Policy under PM Abe since 2012', and 'Middle Power Cooperation in the Indo-Pacific'. Follow Stephen on Twitter @nagystephen1.

– Nadir Ali Wani is currently Director of the Center for Peace and Justice, a research-based group in Srinagar, the capital of Jammu and Kashmir, India. He holds a Masters�s degree in Conflict Studies and International Relations from Jawahar Lal Nehru University, New Delhi, and has an abiding interest in the study of conflicts in South Asia with a particular interest in international politics to do with China, Islam and Kashmir.

– Jammu and Kashmir Centre for Peace and Justice (JKCPJ) is a youth-oriented, independent, multidisciplinary research organization. The Centre came into being in 2018, against the backdrop of global challenges upholding peace and social justice. The driving concern of the JKCPJ is bringing people together to accomplish things in an environment of trust, to strive for sustainable peace. Our mechanism transmits knowledge, hope, hard work, and successfully contributing to the development of humankind. Please visit https://jkcpj.org.

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

Sanofi Renews Partnership with Cielo to Strengthen its Talent Acquisition Strategy in Asia

SINGAPORE, Apr 19, 2021 – (ACN Newswire) – Cielo, the world's leading Recruitment Process Outsourcing (RPO) provider, has renewed its partnership with Sanofi, a global biopharmaceutical company, to help them hire the best talent in Asia.

Cielo has been working with Sanofi in Asia since 2018 to provide cutting-edge talent sourcing and recruiting strategies in the region, helping Sanofi transform its approach to talent acquisition. The partnership covers key Asian markets of Singapore, Malaysia, Indonesia, Thailand, Philippines, Hong Kong, Taiwan, Vietnam and Cambodia. Cielo is also Sanofi's RPO partner in the US and Latin America – a testament to our strategic approach and global offering.

"Life sciences leaders such as Sanofi are rapidly transforming their talent acquisition strategies. We are excited to renew our strategic partnership with Sanofi and continue to help them deliver on their commitment in offering innovative healthcare solutions to patients by providing in-demand talent in Asia," said Seb O'Connell, President of EMEA and APAC, Cielo. "We believe that the right talent is a key enabler for any organisation to unlock its true potential and achieve its business goals, and we are proud to support Sanofi."

Speaking about the partnership, Andrea Paola Poggio, Head of Talent for Sanofi Asia said, "At Sanofi, our employees are key to our success, and we are always looking for talent who are willing to join us to drive our ambition in empowering lives of our patients. As one of the leading providers of RPO for life sciences and being agile and flexible to deliver at a fast speed, Cielo has enabled Sanofi to benefit from scalable talent acquisition solutions, and reduced time-to-hire; key elements to build a diverse & talented workforce with targeted capabilities for a rapidly changing context."

"At Cielo, our teams are driven by an overarching purpose of providing superior experiences and outcomes to our clients and this relentless drive to challenge ourselves to do better fosters a strong sense of trust and mutual respect with our clients. Sanofi's renewed partnership is a validation of this trust and a testament to our Life Sciences domain expertise, commitment and value that we bring to customers," stated Kumar Bhaya, Vice President, Client Solutions APAC, Cielo Talent.

About Cielo

Cielo is the world's leading strategic Recruitment Process Outsourcing (RPO) partner and industry innovator delivering RPO, Total Talent Acquisition, Consulting and Executive Search services in 100+ countries. They design comprehensive, people-centric solutions and leverage Cielo TalentCloud – an award-winning technology suite featuring CRM, AI, automation and analytics capabilities – to help clients find, attract and hire the specific talent to move their businesses forward. To learn more, visit cielotalent.com.

About Sanofi

Sanofi is dedicated to supporting people through their health challenges. They are a global biopharmaceutical company focused on human health. They prevent illness with vaccines, provide innovative treatments to fight pain and ease suffering. They stand by the few who suffer from rare diseases and the millions with long-term chronic conditions. With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe. To learn more, visit www.sanofi.com

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

Daraz announces Seller Promises including faster pay-outs and accelerated business growth for local entrepreneurs

SINGAPORE, Apr 15, 2021 – (ACN Newswire) – Daraz, the leading e-commerce platform in South Asia announced its commitment to provide additional support to local entrepreneurs and enhance the selling experience on the platform over the coming months.





In a recent online conference, Daraz Group CEO, Bjarke Mikkelsen, announced key initiatives planned for seller growth on Daraz. With the newly launched promises, the market leader will aid the economic growth of the region and accelerate digitalization.

According to Bjarke, "Sellers are the heart of Daraz' ecosystem, and in 2021 our key focus will be to make it easier and faster to sign up, start selling, and growing your business online. Our seller promises for 2021 form the foundation to improve seller experience and allow our sellers to capture the full growth potential in the market."

Key features of the announcement included:
1. Daraz will make the process of signing up easier and faster to allow new Sellers to start selling within 24 hours.
2. Effective immediately, Sellers will be paid twice as fast by reducing the payment cycle from 14 days to 7 days.
3. Daraz will aim to always respond to Seller enquiries on live chat within 30 seconds during business hours to ensure instant support.
4. For Sellers whose products are not selling as expected, Daraz will provide specific support to help identify the business gaps.
5. Lastly, the claims process will be streamlined to make it much easier and faster for Sellers to file claims when needed.

With these initiatives, and continued investments to increase the user base, Daraz expects to more than double the number of sellers generating more than a $1,000 revenue per month before the end of the year.

COVID has accelerated the retail shift to e-commerce, and thousands of sellers have been joining Daraz every month. However, the online retail share in the region is still low, and South Asian markets are expected to grow rapidly in the coming years. On this note, the CEO added, "We hope our seller community is as optimistic as we are about the year to come. Despite the COVID impact on the broader economy, we are convinced that 2021 will be a year of great success for e-commerce. We will be doing our utmost to make it a success for all of our trusted and valued sellers."

Daraz' mission to empower entrepreneurs across the region through its technology, logistics and business infrastructure. The seller promises for the upcoming year are a testament to the brand's commitment towards its sellers and ecosystem. As Jack Ma – founder of Daraz' parent company said, "Our philosophy is that we want to be an ecosystem. Our philosophy is to empower others to sell, empower others to service, making sure the other people are more powerful than us." With this vision, Daraz will enable ease of business and encourage sellers to shift to e-commerce.

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

China Dynamics Enters into MOU to Create Exclusive Distribution Network in the Americas

HONG KONG, Apr 13, 2021 – (ACN Newswire) – China Dynamics (Holdings) Limited (the "Company"; Stock Code: 476, together with its subsidiaries, collectively "China Dynamics" or the "Group"), a provider of new energy vehicles and technology integrated solutions, and Citizens Resources LLC ("Citizens") have signed a Memorandum of Understanding ("MOU") for strategic business cooperation in Canada, the USA, Brazil, the Caribbean and Latin America (hereinafter the "Exclusive Territory") to set the basis for an exclusive master distributorship and licensing agreement.

Under the MOU, both parties will enter into a series of agreements allowing China Dynamics to create a sales pipeline and a distribution network for electromobility products in the Exclusive Territory on an exclusive basis and to support the distribution network with training, marketing, after sales and charging infrastructure.

Meanwhile, Citizens is set to use China Dynamics' technology, intellectual property, know-how, technical support and supply chain to assemble or manufacture electric vehicles in Mexico for further export, distribution, sale and marketing in the Exclusive Territory under a licensing agreement. Citizens will enter into a purchase and sale agreement to buy vehicles or components from China Dynamics on a cost-plus basis, so that China Dynamics will become the provider of powertrains, battery packs, e-kits, and complete rolling platforms.

Mr. Miguel Valldecabres Polop, CEO of China Dynamics, said, "We are pleased to announce the signing of the MOU with Citizens, an energy investment and smart electromobility company in the US. Citizens has nearly 40 years of experience in developing businesses and partnerships internationally, with a particular focus on North America and the Caribbean. This MOU will help expand the Group's markets into the Americas and will add to the Group's growing number of partners working on electromobility products with the ultimate goal of a greener environment through zero-transmission transport."

Mr. Sergio de La Vega, Principal at Citizens, commented, "We have been working on energy transition and efficiency for a few years now. Electromobility represents everything we believe in: smart cities, big data, energy efficiency, lifestyle, respect for our planet and technological evolution. The vehicles of the future will trend towards autonomy, charging and storing energy in better ways to better serve society. We have no doubt this partnership will bring growth and value for China Dynamics and for Citizens."

About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and a prominent player in new-energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power system and its key components. The Group has two production bases in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America.

About Citizens Resources LLC
Citizens' predecessor started as a Boston-based non-profit in 1979, importing and providing heating oil for low-income families in Massachusetts. Over the next 40 years, Citizens evolved into an international player in the energy sector. In 2017 Citizens began a transition towards launching a platform for renewable, stranded, and smart energy investments, as well as non-emission mobility projects. Citizens' distribution subsidiaries provide additional expertise and knowledge to develop transportation businesses in LATAM. This network in the energy, automotive, and industrial sectors in the US and Mexico enables Citizens to act as innovators in smart urban mobility solutions, automotive innovation and vehicle distribution.

Media Enquiry
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 vicky.lee@sprg.com.hk
Phoebe Leung +852 2114 4172 phoebe.leung@sprg.com.hk
Carrie Leung +852 2114 4912 carrie.leung@sprg.com.hk

Website: www.sprg.com.hk

Citizens Resources LLC
160 Federal St 18th Floor
Boston, MA 02110
USA
Enrico Della Casa (617) 912-1444 enricodc@citizenscompanies.com



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

How China’s Poverty Eradication Work Contributes to the World

BEIJING, Apr 12, 2021 – (ACN Newswire) – Since the reform and opening-up, more than 770 million of China's rural population living below the poverty line have been raised out of poverty, accounting for more than 70% of the global total over the same period by the World Bank's international poverty standard, a white paper on poverty alleviation reads.

The white paper was released Tuesday morning by China's State Council Information Office.

Against the backdrop of severe global poverty and a widening gap between the rich and the poor in some countries, China has won the battle against extreme poverty and achieved the poverty alleviation goal set on the UN 2030 Agenda for Sustainable Development 10 years ahead of schedule.

This has significantly reduced the world's poor population and contributed greatly to "realizing a better and more prosperous world," as envisioned by the Agenda.

– International support and assistance

In the early years after the founding of People's Republic of China (PRC), China used to benefit from the support of the international community.

By cooperating with the UN and the World Bank, the country accepted assistance from some developed countries and carried out cooperation projects in financial input, knowledge transfer, and technical assistance while learning from the advanced concepts and methods.

Those efforts improved China's institutional innovation and management and laid a foundation for sustainable development in certain areas.

– China's role in global poverty management

In return, China has been providing support and assistance to the world. President Xi Jinping has announced on many major international occasions that China's practical measures for international development cooperation have been implemented on schedule or are progressing in an orderly manner.

Firstly, China has supported other developing countries in poverty alleviation since the founding of the country.

For instance, China has launched the Belt and Road Initiative (BRI) to expand deep and high-level regional cooperation on economic and social development and to help eligible countries better achieve poverty alleviation.

According to a World Bank study, the initiative will help 7.6 million people out of extreme poverty and 32 million out of moderate poverty in these countries.

Over the past 70 years and more, China has provided assistance in various forms to over 160 countries in Asia, Africa, Latin America, the Caribbean, Oceania, and Europe, and international organizations, reduced or exempted the debts of eligible countries, and helped developing countries in their efforts to achieve the Millennium Development Goals, the paper says.

Secondly, China has launched international poverty alleviation cooperation projects for the benefit of all. In Africa, China has helped countries build facilities including water conservancy infrastructure, vocational and technical schools, government-subsidized housing, set up demonstration zones for agricultural cooperation, and carried out China-Africa cooperation projects such as China-Africa friendship hospitals and the headquarters of the African Center for Disease Control and Prevention.

Thirdly, China has also shared its experience on poverty reduction. It has carried out exchanges and cooperation, including building platforms, organizing training, and conducting think tank exchanges.

Together with UN agencies in China, the Chinese government has convened sessions of the Global Poverty Reduction and Development Forum on the International Day for the Eradication of Poverty.

With the COVID-19 pandemic still spreading around the world, and poverty, hunger and disease undermining people's pursuit of a better life, China says it stands ready to strengthen exchanges and cooperation with other countries on poverty reduction and make a greater contribution to building a global community of shared future that is free from poverty and blessed with common prosperity.

Media contact:
Xiaonan Ma, CGTN
Email: cgtn@cgtn.com
Phone: +86-10-85061422

SOURCE: CGTN, https://news.cgtn.com/news/2021-04-06/How-China-s-poverty-eradication-work-contributes-to-the-world-ZeVWiOgAlW/index.html

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

The Executive Centre launches the “What Is An Office” campaign

HONG KONG, Apr 8, 2021 – (ACN Newswire) – The pandemic has led to the greatest debate of all time – do people even need an office and if so, what do they want? Today, The Executive Centre (TEC), the leading premium flexible workspace provider across Asia Pacific and the Middle East, launches the "What Is An Office" campaign, which examines the elements that make up a dynamic, productive workspace.





The campaign consists of a brand video, plus 4 product videos that examines how the workforce views the role of an office and asks the central question, "What Is An Office?" The short films explore how a positive working environment and agile working practices can help business operations, shedding light on the fundamental importance of a multi-purpose office to a company's success.

"The break from office has pushed people to reconsider what they require to create a positive working environment. People are waking up to the fact that an office should be more than four walls around a desk. — It is a space which fosters collaboration, communication and creativity," said Paul Salnikow, TEC Founder and CEO. "While human interaction proves to be crucial for work and life, people are also keen to enjoy variety in work options, the future of work is shifting from purely remote to a hybrid model. Flexibility is key in future workplace strategies because choice has become an invaluable asset; people want to choose to access workstations, meeting rooms and breakout areas when they need it, and corporations are realising that incorporating a flexible element can also positively impact their bottom line."

TEC has found that the need for more flexible lease terms, robust technological infrastructure and internet connectivity for virtual get-togethers, as well as spacious event venues to host socially distanced conferences, and even on-demand passes to support their remote working teams has dramatically increased in the last year.

A whitepaper report will also be released for free public download on the campaign website that looks into the history and future trends of office development, plus TEC's approach to office design strategy.

What is an office? Your work, your space, your choice.

Visit the campaign website here: https://www.whatisanoffice.executivecentre.com

The videos can be viewed here: https://youtu.be/ykUYq-XGoOA


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.

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
Kitty Lam
Kitty.Lam@fgh.com / +852 3166 9886


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

MMC Corporation Berhad Chooses Ramco Systems to Digitally Transform Five Ports in Malaysia’s Single Largest Port Transformation Programme

KUALA LUMPUR, Apr 8, 2021 – (ACN Newswire) – Leading Malaysian utility and infrastructure conglomerate MMC Corporation Berhad (MMC) announced that it has embarked on a major digital transformation of five ports, in partnership with global software solutions leader, Ramco Systems.



Photo caption clockwise from top left: Dato' Sri Che Khalib Mohamad Noh, Group Managing Director of MMC Corporation Berhad, Mr. P.R Venketrama Raja, Chairman of Ramco Systems Limited and Mr. Virender Aggarwal, Chief Executive Officer of Ramco Systems Limited during the virtual signing ceremony of Memorandum of Agreement on the Enterprise Resource Planning digital transformation.



The digital transformation will consolidate and standardise processes of MMC's ports, which include Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), Johor Port Berhad, Northport (Malaysia) Bhd, Penang Port Sdn Bhd and Tanjung Bruas Port Sdn Bhd. The group-wide transformation was awarded based on the successful implementation of Ramco integrated Enterprise Resource Planning (ERP) system at one of Malaysia's most advanced container terminal – PTP.

This technological transformation programme will propel Malaysia to the forefront of global best-in-class ports – which plays a crucial role in mitigating supply chain challenges, including recent disruptions due to COVID-19.

Building on an earlier implementation by Ramco Systems of an ERP system for PTP where about 90% of the system has achieved Go-Live in phases over the past 10 months, the enhanced rollout will digitalise processes, while providing real-time business information. MMC will also be able to consolidate various business support functions (namely Finance, Human Resource, Enterprise Asset Management, Supply Chain Management, and Logistics Management) across ports into a single integrated ERP system – all accessible on an integrated dashboard.

Over 8,000 MMC employees across the ports will be plugged into the platform on their computers/mobile devices which now eliminates duplication errors and other bottlenecks, allowing efficient business processes and enhanced data visibility.

The system will also include smart features such as Artificial Intelligence and Machine Learning (AI/ML), which will provide employees with greater insight as well as predictive alerts and chatbots which can reduce human error and save time. This will lay the foundation for MMC's broader strategy to enhance business experience to our customers and suppliers.

"The COVID-19 pandemic has pushed several trends into the spotlight, such as e-commerce and strengthening the supply chain. More than ever, we see the importance of ensuring our ports remain efficient and capable of quick turnaround, and we had been looking for a partner which could provide a scalable solution for all our ports.

With the support from Ramco Systems, MMC is committed to accelerate digital transformation that delivers efficiency, productivity and reliability within our ports to provide the best-in-class service for our customers. The implementation of a common system and integrated technology platform will further maximise synergies and allow all our ports to share expertise and benefit from economies of scale. We aim to leverage on technology as a key differentiator in order to gain competitive edge and add value to our stakeholders," said Dato' Sri Che Khalib Mohamad Noh, Group Managing Director MMC Corporation Berhad.

P.R. Venketrama Raja, Chairman, Ramco Group, said, "It is a great honour to work alongside the MMC Group to help upgrade its ports. The partnership is a significant milestone in Ramco's history; the implementation of Ramco's systems will optimise operational efficiency at MMC Group, thereby translating into faster turnarounds at Malaysian ports and impacting Malaysian trade."

"We at Ramco have established a strong Malaysian presence through our many years of engagements with multiple large conglomerates within the country, and this engagement was only possible through the hard work of the Ramco team in providing digital transformation to PTP. We look forward to working closely with the MMC team and am confident Ramco's software will bring great value to MMC's ports," added Raja.

About MMC Corporation Berhad

MMC Corporation Berhad ("MMC") is a leading utilities and infrastructure group with diversified businesses under four divisions, namely Ports and Logistics, Energy and Utilities, Engineering, and Industrial Development.

Its key businesses under the Ports and Logistics division includes the port operations of Pelabuhan Tanjung Pelepas Sdn Bhd, Johor Port Berhad, Northport (Malaysia) Bhd, Penang Port Sdn Bhd, Tanjung Bruas Port Sdn Bhd and Kontena Nasional Berhad, a logistics provider. Internationally, MMC has presence in Saudi Arabia via Red Sea Gateway Terminal Company Limited, a container port terminal within the Jeddah Islamic Port.

Under the Energy and Utilities division, Malakoff Corporation Berhad is the largest Independent Power Producer in Malaysia and its subsidiary, Alam Flora Sdn Bhd, is one of the leading environmental management companies in the country. Under Gas Malaysia Berhad, we are the supplier of reticulated natural gas in Peninsular Malaysia operating and maintaining 2,468 kilometres of gas pipeline. Through Aliran Ihsan Resources Berhad, we provide full-fledge water services using high technology treatment in Malaysia.

MMC's Engineering Division has played a leading role as the Project Delivery Partner and underground works package contractor in completing 51 kilometres Klang Valley Mass Rapid Transit ("KVMRT") Kajang Line (previously known as Sungai Buloh-Kajang Line) including 9.5 kilometres underground works. Currently, we are the main turnkey contractor for 52.2 kilometres KVMRT Putrajaya Line (previously known as Sungai Buloh-Serdang-Putrajaya Line). MMC also successfully completed the 329-kilometre Ipoh-Padang Besar Electrified Double Tracking Project as well as the innovative Stormwater Management and Road Tunnel ("SMART") motorway, the first of its kind, dual-purpose tunnel in the world. MMC is currently in the final stage of completing the Langat Centralised Sewerage Treatment Plant (920,000 Population Equivalent) and Langat 2 Water Treatment Plant (1,130 Million Litres Per Day).

MMC's Industrial Development Division develops and manages approximately 5,000 acres of industrial developments namely Senai Airport City ("SAC") and Tanjung Bin Industrial Park ("TBIP") in Iskandar Malaysia, Johor and Northern Technocity ("NTC") in Kulim Kedah. The SAC, TBIP and NTC developments come under the ambit of Industrial Development division's three operating companies – Senai Aiport City Sdn Bhd, Seaport Worldwide Sdn Bhd and Northern Technocity Sdn Bhd respectively.

In other business, through Senai Airport Terminal Services Sdn Bhd, we are the operator of Senai International Airport in Johor Bahru – the southern aviation hub and an important gateway to Iskandar Malaysia.

Enquiries: Please log on to www.mmc.com.my or call Azlina Ashar, Head of Group Corporate Communications, MMC Corporation Berhad, Tel: +603 2071 1124.

About Ramco Systems

Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning and Event Driven Architecture by building features such as Talk It – which allows transactions to be carried out by simple voice commands, Bot it – which allows users to complete transaction using natural conversations; Mail It – transact with the application by just sending an email; HUB It – a one screen does it all concept built to address all activities of a user; Thumb It – mobility where the system presents users with option to choose rather than type values and Prompt It – a cognitive ability which will let the system complete the transaction and prompts the user for approval.

With 1800+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where employees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it's Monday!

– Leader in NelsonHall's NEAT Matrix for Next Gen Payroll Services
– Winner of 2020 ISG Paragon Awards Asia Pacific, for 'Transformation' and 'Collaboration'
– Winner Global Payroll Transformation Project of the Year – 2019 by Global Payroll Association
– Positioned as Major Contender in Everest Group's Multi-Country Payroll Platform PEAK Matrix

For more information, please visit http://www.ramco.com/
Follow Ramco on Twitter @ramcosystems and stay tuned to http://blogs.ramco.com

For further information, please contact:
Vinitha Ramani
+91-9840368048
vinitharamani@ramco.com

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

HKIoD Releases Revised Guide for INEDs

HONG KONG, Apr 7, 2021 – (ACN Newswire) – Amidst the economic decline for many sectors under the Covid-19 impact, the financial sector is faring with vibrancy. Witness the IPO line-up on HKEX and the financial trading activities. The investing public continues to place stake on listed issuers' performance, which comes with the expectation on corporate governance led by boards of directors. An important board role under public scrutiny is that of the independent non-executive director ("INED"). To provide up-to-date practice guidance, The Hong Kong Institute of Directors ("HKIoD") releases a complete revision of one of its flagship publications, Guide for Independent Non-Executive Directors ("the Guide").

Drawing increasing attention from the public and in particular from regulators and stakeholders, the role of INED when performed well adds value to the board. Author of the Guide, Dr Carlye Tsui Wai-ling, CEO of HKIoD, highlights the implication, "Taking up an appointment as an INED carries with it an honour in trust bestowed, a commitment to service and acceptance of expectation in professionalism."

The Guide aims to provide practice notes and advisory tips in concise and user-friendly reading, with highlights on principles for INEDs at work as well as practical aspects of work scope, issues, skills and working relationship with other board members and management. "The INED role calls for serious and diligent service," said Dr Christopher To Wing, Chairman of HKIoD. "While offering practice guidance to INEDs, we encourage the board and management as a team to work together. Hence, the Guide also facilitates teamwork on the board." The Guide is sponsored by the Corporate Governance Development Foundation Fund and the Office of the Privacy Commissioner for Personal Data, Hong Kong.

"INEDs may add value, not only to listed and regulated companies but also to all other types of companies," remarked Mr Henry Lai Hin-wing, Immediate Past Chairman of HKIoD and current Chairman of the institute's Corporate Governance Policies Committee. "While listed companies are mandated by Listing Rules to appoint INEDs to the board, non-listed companies may introduce diversity in perspectives on the board by appointing INEDs."

One important emphasis of the Guide is on corporate sustainability through ESG adoption and reporting led by the board, with INEDs serving as catalyst. Dr Moses Cheng Mo-chi, Founding Chairman of HKIoD and a renowned INED, advocates ESG implementation and opined, "INEDs should be knowledgeable and proactive in driving ESG adoption and should ensure that ESG goals and achievements are communicated well by the company."

Echoing on the teamwork of the board, Dr Kelvin Wong Tin-yau, Past Chairman of HKIoD and a recognised practitioner as both executive director and INED, said, "We will see a paradigm shift in INED focus, to both financial and ESG performance, and extension from independence to interdependence and interplay among all board members."

On the significance of the INED role, Dr David Wong Yau-kar, Past Deputy Chairman of HKIoD and a well-respected business leader, highlighted, "INEDs must be seasoned in assessing business landscape and risks, particularly when the company engages in a major transaction or explores a new business line."

Given the enormous obligations and responsibilities, it may not be easy to have suitable candidates coming forward to accept INED appointment. Dr Tsui concluded, "Usually INEDs are mission-minded persons who are appropriately trained and who advocate good corporate governance. It is significant to develop a partnership of mutual respect and trust between the INEDs and other board members as well as management. It takes the whole board and management, working together, to realise the maximum value from INEDs."

HKIoD promotes excellence in director practices through its annual major project of Directors Of The Year Awards, honouring role models among individual director and the collective board. INEDs have been recognised at the Awards for their exemplary performance. Continuing in its 21st anniversary, the awards project this year takes on the theme "Leading in New Normal". Nominations for the awards are open to the public.

The HKIoD Guide for Independent Non-Executive Directors can be downloaded for free and nominations of candidates for Directors Of The Year Awards 2021 are welcomed.

1. Guide for Independent Non-Executive Directors : https://www.hkiod.com/INEDguide.html
2. Directors Of The Year Awards 2021: https://www.hkiod.com/dya-current.html

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 service 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 leading director institutes.

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

Strategic Public Relations Group Limited
Brenda Chan +852 2114 4396 / brenda.chan@sprg.com.hk
Chak Yau +852 2114 4395 / chak.yau@sprg.com.hk


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

HKIoD Recommends a Director Identification Number System

HONG KONG, Apr 7, 2021 – (ACN Newswire) – The Government has plans to introduce subsidiary legislation to implement provisions under the Companies Ordinance relating to legitimate and necessary access to personal information contained in the Companies Register. The Hong Kong Institute of Directors supports the new arrangement.

Under the new arrangement, public inspection of the Companies Register will not be precluded. The Companies Ordinance does enable public inspection of data in the Companies Register, but the inspection must comport with the law. The Companies Ordinance as passed into law contains provisions specifying that public inspection of the Companies Register should only be for the purposes set out in section 45(1).

A main purpose of public inspection of the Companies Register is to ascertain the identity of a director of a certain company.

Under the new arrangement, a director may provide a correspondence address to be displayed in the Companies Register, and only a part of the identification numbers will be on display. The data so displayed should in most ordinary circumstances enable the person seeking information to ascertain the identity of a director. For service of documents and legal proceedings, the company's registered address or another service address that the director provides is sufficient.

Under the new arrangement, there will also be a mechanism to enable Specified Persons (e.g., minority shareholders, financial institutions, certain professional bodies, employees who are owed back wages, etc.) to seek court approval to obtain a director's usual residential address and identification number in full. A court may grant such access if deemed appropriate. The Companies Registry may also disclose a director's usual residential address if the CR cannot establish contact with the director using the correspondence address provided. Government departments and law enforcement agencies may also obtain full personal details of a director through the CR for law enforcement.

HKIoD is all for accountability of company directors, but the accountability need not come from open access to a director's residential address or to the director's personal identification number in full. The key is to have ways to ascertain the identity of a director. Under the new arrangement, the public will have adequate channels to obtain information to prevent directors from being held accountable or getting away with wrongdoings.

We may still borrow from other jurisdictions to make it more convenient to ascertain a director's identity without attracting abuse of personal information. We can look to Australia, and consider introducing official, unique Director Identification Numbers to be used by the same director across different entities for the duration of the director's life. Such DIN will improve traceability of a director's involvement across different entities at different times. Such traceability would especially help tackle phoenix activities, making it harder for culpable directors to hide.

But for the upstanding director, a DIN will not be a burden and can indeed signify one's credibility.

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 service 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 leading director institutes.
Website: http://www.hkiod.com.

Media Enquiries:
Ms Joanne Yam +852 2889 1414 joanne.yam@hkiod.com
Ms Odessa SO +852 2889 4988 odessa.so@hkiod.com




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

Legend Holdings Announces 2020 Annual Results, Revenue and Net Profit up by 7%

HONG KONG, Apr 1, 2021 – (ACN Newswire) – According to South China Morning Post's news, Legend Holdings Corporation (3396.HK) announced annual results of the Company and its subsidiaries for the year ended December 31, 2020. Revenue of the Company recorded RMB416.765 billion, representing an increase of 7% yoy. Meanwhile, net profit recorded RMB3,868 million, also representing an increase of 7% yoy. It was mainly due to the profitability improvement of Lenovo, EAL and Levima as well as the increased return of the financial investment segment. Although the COVID-19 brought many adverse effects on the production and operation of invested enterprises in the first half of the year, Legend Holdings took a number of measures to hedge its exposure to the epidemic, which is manifested to be effective later on. In the second half of the year, the net profit attributable to the equity holders of the Company was RMB3,231 million, up 243% year-on-year and over 400% compared with the first half of the year.

Mr. Li Peng, CEO of Legend Holdings, said: "Uncertainties intensified in 2020, however, the results showed that our portfolio companies were able to effectively counter the impact of the pandemic on their operations. Although each company was facing various challenges, they could resume operation and production instantaneously. All business lines were able to maintain the stability of their operations during the pandemic, and many of them were even able to seize the opportunities arising from the crisis to break new ground. As we looked back at 2020, thanks to our profound business experience and effective management system, Legend Holdings steadily fought through the challenging economic environment and obtained a solid foundation for the sustainable development in future."

The strategic investment segment is regarded as the basis of Legend Holdings' business, which contributes more than RMB400 billion of revenue and more than RMB550 billion of assets. The business covers five major sectors and the Company participates in more than 20 enterprises. The strategic investment segment operates steadily throughout the year, and if the substantial loss of Car Inc. in 2020 and the one-time income brought about by the listing of Lakala in 2019 are excluded, the net profit attributed to equity holders in strategic investment segment of the Company is roughly the same as the same period last year.

During the Reporting Period, the IT segment's revenue increased by 8% year-on-year to RMB384,992 million. Net profit attributable to equity holders of Legend Holdings increased 30% to RMB2,093 million. Since the outbreak of COVID-19, many business sectors of Lenovo have maintained impressive growth due to changes in lifestyle and work habits, of which the PC and Smart Device business achieved record revenue of RMB308,146 million, an increase of 11% yoy, and Data Centre Group revenue of RMB41,047 million, an increase of 8% yoy. The revenue of Mobile Business Group is also gradually coming out of the impact of the epidemic and resuming growth in the second half of the year. At the same time, Lenovo Group has achieved results in the implementation of the strategy of transformation to services. The software and services business grew rapidly in the second half of the year and contributed 8% of the group's invoiced revenue, a record high.

Levima Advanced Materials Corporation, Legend Holdings' affiliate as well as a leader of advanced materials industry, was listed on the Shenzhen Stock Exchange at the end of 2020. The development and rise of Levima is of great significance as it's another enterprise successfully cultivated by Legend Holdings from scratch. Levima has taken multiple measures in the past year to actively overcome the impact of the epidemic, improve operation efficiency and optimize product structure. At the same time, it emphasizes innovation-driven, focuses on the direction of advanced materials industry, takes the route of high-end, differentiation and refinement, and creates a leading industrial cluster in several subdivision fields of advanced materials. In 2020, Levima achieved revenue of RMB5.931 billion, an increase of 5% yoy, and net profit of RMB655 million, an increase of 21% yoy.

Although the COVID-19 epidemic has brought a great impact on the operation of domestic small and medium-sized enterprises, Zhengqi Financial, China's leading comprehensive financial service provider, has made a positive response through multiple means such as risk control and strengthening the business foundation, and has still achieved performance growth against the market. Zhengqi Financial ensures the stability of it fundamentals by further improving the risk control system, systematically and comprehensively evaluating business risks and taking multiple measures at the same time. Meanwhile, Zhengqi Financial continues to practice the "joint investment-loan" model, and the results are gradually revealed: five invested enterprises have been successfully listed on the capital market, and the IPO applications for Chemclin Diagnostics Corporation and Gocom Information Technology were approved. During the reporting period, Zhengqi Financial achieved a net profit of RMB521 million, an increase of 140% yoy.

Financial investment segment, as another "wheel" of the Company realized RMB2.439 billion of net profit attributable to the equity holders in 2020, an increase of 169% over the same period last year. In addition, it also contributed a good cash return to the Company. The three funds achieved a cumulative cash return of more than RMB4 billion in 2020.

"Strategic investment + financial investment" two-wheel drive has always been a unique business model of Legend Holdings, the Company is committed to give full play to the inherent advantages of this model, and continue to create leading enterprises. In 2020, the Company strategically bought a stake in Shanghai Fullhan Microelectronics Co., Ltd. through a two-wheel drive strategy, successfully transformed the fund investment project into Legend Holdings' strategic investment project in the field of science and technology, created a new paradigm for its layout in the high-tech field. The Company also said that in the future, it will actively look for opportunities in science and technology, healthcare and other related areas.

Looking ahead to 2021, Mr. Ning Min, chairman of Legend Holdings noted, "We are full of confidence. We will not forget our intention to serve the county with industry, which Mr. Liu Chuanzhi passed on to us, and we will go to a higher peak. We will stick to seek improvement in stability, take advantage of the new historical and strategic opportunity, focus on the optimization and improvement of the existing assets, and actively explore the layout of the new track."

Chart: Information of the three funds in the financial investment segment (As of December 31, 2020)
Name: Legend Star
Type: Angel Investment
Funds under management: 7
Fund size under management: > RMB3 billion
Summary: Legend Star completed the final closing of its 4th RMB fund in 2020, and the second round closing of the 4th USD fund. During the Reporting Period, it invested in more than 20 domestic and overseas projects. More than 50 investee companies had another round of financing. Legend Star also exited from 14 projects. Burning Rock Biotech and Kintor Pharmaceuticals were listed on the NASDAQ and Hong Kong Stock Exchange respectively during the Reporting Period.

Name: Legend Capital
Type: Private Equity Investment
Funds under management: 25
Fund size under management: >RMB50 billion
Summary: Legend Capital raised a total of RMB4.524 billion in funds in 2020, completed 51 new project investments and exited 44 projects, partially or in full, which generated good cash return. Among the investee companies, 11 companies landed in the capital market.

Name: Hony Capital
Type: Investment Management
Funds under management: 13
Fund size under management: > RMB80 billion
Summary: Hony Capital completed two rounds of fund raising for its 3rd property fund. The first Hony Venture Capital Fund completed the final settlement and raised USD130 million. Both new and follow-on investments in existing projects progressed in an orderly manner. Companies under management were also listed, and project exits were relatively active.


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