HKTDC & UOB Research: 85% of GBA businesses prioritise ASEAN sales

HONG KONG, Jan 9, 2024 – (ACN Newswire) – About 85% of businesses in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) plan to maintain or grow their sales to the ASEAN bloc of countries in the next three years, according to a research report released by the Hong Kong Trade Development Council (HKTDC) and UOB today. The report – Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area – also indicated that Malaysia, Singapore, Thailand and Vietnam were the top sales markets for expansion-minded GBA businesses, while Vietnam remained top choice for procurement and production outsourcing.

Overall, the report shed some light on why GBA businesses found ASEAN appealing. The sheer scale of the ASEAN market was singled out by 55.9% of research respondents as a key catalyst for their expansion plans. Scale was ahead of the 49.6% accorded to government incentives and investment policies and 32.8% which cited enhanced e-commerce access.

The HKTDC-UOB survey conducted in the third quarter of last year took the form of a questionnaire completed by 671 GBA enterprises, supplemented by in-depth interviews with a representative number of GBA businesses.

More GBA companies plan to expand into ASEAN markets

The survey found more than 70% of respondents planned to expand to ASEAN in the next three years, compared with 60% in a similar survey conducted in 2021. The number is even higher for those already established in ASEAN, with 96% of such businesses planning to maintain or expand operations in the next three years.

GBA companies across the four surveyed sectors – consumer goods; business, professional and financial services; real estate, hospitality and construction; and technology, media and telecommunications – all saw Malaysia, Singapore and Thailand as having the greatest potential to thrive in. In terms of industrial goods, GBA businesses considered Malaysia, Singapore and Vietnam their priority markets. Malaysia’s popularity across companies in the four sectors was considerably higher than in the 2021 survey.

Key challenges

GBA businesses regarded navigating local government policies and regulations (48.6%) as the key challenge to expanding their market share within ASEAN, followed by cultural or language barriers (38.7%) and difficulties in obtaining talent (26.4%). This differs notably from the 2021 survey, which identified inadequate infrastructure, difficulties in finding the right local partners and the increasing cost of doing business as the top three challenges.

Mrs Christine Ip, CEO – Greater China, UOB, said: “UOB is dedicated to driving business connectivity between ASEAN and China. We see the a strong trend among GBA enterprises to spread their wings abroad and boost long-term growth. With our cross-border and customised financial solutions, foreign direct investment advisory services and a deep understanding of local markets, sector knowledge and partnership ecosystem, we help to reduce barriers of cross-border expansion, address supply chain risks and minimise financing costs for customers. Since the inception of the UOB Foreign Direct Investment Advisory unit in 2011, we have supported nearly 4,000 companies to successfully enter ASEAN markets. This success underscores the Bank’s commitment to doing right by our customers.”

Hong Kong’s connectivity with GBA and ASEAN

In another key finding, most GBA businesses had a particularly high regard for Hong Kong’s strong connectivity with both the GBA and ASEAN bloc – more than 70% of respondents accorded the city a score of seven or more out of 10. Hong Kong’s expertise in service provision was seen as essential for sustained success in the ASEAN market and also its most admired asset. Hong Kong scored highly for its expertise in legal compliance, cross-border infrastructure finance and logistics. This was seen as an endorsement of the quality of services the city provides and an indication of the massive contribution Hong Kong is set to make as the GBA continues to prosper.

Commenting on the findings, Mr Louis Chan, Deputy Director of HKTDC Research, said: “This survey confirms both the bold and outward-looking nature of the GBA’s overall development strategy, while highlighting the essential role Hong Kong can play in ensuring this initiative reaches its full potential. It shows beyond doubt that synergy between the GBA members assures them of a better future than they could have achieved alone.”

Mrs Ip added: “In tandem with the promotion of free trade agreements, technology empowerment and higher business plans, the findings show we stand at the crossroads of burgeoning investment opportunities between Greater China and ASEAN. Hong Kong has a unique position as a super connector and value-adder, driving financial innovation, facilitating cross-border trade and nurturing economic prosperity to shape a future where business connectivity in this dynamic region knows no boundaries.”

Regional integration, digitalisation and cost management essential for ASEAN success

Overall, 53.7% of GBA companies noted that geographic economic integration initiatives, particularly the Regional Comprehensive Economic Partnership (RCEP), were likely to boost their chances of success within ASEAN, followed by digitalisation (51.9%) and cost management, including moving production to lower-cost locations (40.8%).

Most respondents credited the effectiveness of RCEP at streamlining and accelerating trade between the region’s most dynamic economies – including Mainland China, Indonesia, Malaysia, Singapore, Thailand and Vietnam – as the main reason for its success.

Surveyed enterprises also believed digitalisation had been crucial for the maintenance of economic and supply chain resilience amid the unprecedented impact of the pandemic. They also viewed digitalisation as a key productivity driver, reducing operational costs and facilitating business and investment expansion in the region. In all, 23.2% of companies saw digitalisation as a priority for their business which was likely to boost their chances of successfully entering the ASEAN market.

Related materials

• HKTDC Research: https://research.hktdc.com/en

• The report in Chinese – Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area can be downloaded from the websites of HKTDC and UOB Hong Kong.

Photos Download: https://bit.ly/48CTRkg

Christine Ip, CEO – Greater China, UOB (right) and Louis Chan, Deputy Director of HKTDC Research (left), release the Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area research report

Louis Chan, Deputy Director of HKTDC Research

Christine Ip, CEO – Greater China, UOB

Media enquires
HKTDC’s Communications & Public Affairs Department:
Frankie Leung, Tel: (852) 2584 4298, Email: frankie.cy.leung@hktdc.org
Clayton Lauw, Tel: (852) 2584 4472, Email: clayton.y.lauw@hktdc.org

UOB Hong Kong:
Susanna Liu, Tel: (852) 2123 7537, Email: susanna.liuwy@uobgroup.com
Sarah Tsang, Tel: (852) 2123 7536, Email: sarah.tsangsw@uobgroup.com

Yuan Tung Financial Relations:
Agnes Yiu, Tel: (852) 3428 5690, Email: ayiu@yuantung.com.hk
Hing-fung Wong, Tel: (852) 3428 3122, Email: hfwong@yuantung.com.hk

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

About UOB

UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.

For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within and connecting to ASEAN.

The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to helping businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.

TAMCO Switchgear Testing Laboratory Receives ISO 17025 Certification

KUALA LUMPUR, Jan 8, 2024 – (ACN Newswire) – TAMCO Switchgear Testing Laboratory has been accredited with ISO 17025, a globally recognized international standard for testing and calibration laboratories, from Standards Malaysia. This accreditation marks a pivotal milestone for TAMCO Switchgear as it further strengthens its product quality control in ensuring a safe and reliable power supply to support the NETR initiatives.

The ISO 17025 accreditation signifies that the TAMCO Switchgear Testing Laboratory, located in Bukit Raja, Selangor meets the highest standards for competence in the testing of medium-voltage switchgear which were previously conducted by foreign laboratories namely KEMA in the Netherlands, CESI in Italy, ASTA in Australia, and IPH in Germany. By implementing in-house testing in accordance with ISO 17025 accreditation, TAMCO Switchgear is able to reduce the lead time of product delivery to meet the demanding project requirements.

“We are proud to have received ISO 17025 accreditation as this accreditation is a testament to our commitment to quality and compliance. It allows us to serve our customers and the industry better, and achieve the global goals together, such as NETR,” said Dr. Ir. Segaran Narayanan, CEO of TAMCO Switchgear.

Malaysia’s National Energy Transition Roadmap (NETR) was introduced to ensure the nation remains relevant and competitive in a world where industrial and commercial bases are rapidly changing by the day. The NETR is a significant milestone for Malaysia and comprehensively charts our nation’s trajectory towards a brighter, cleaner, and more resilient future.

TAMCO Switchgear’s Testing Laboratory is equipped with state-of-the-art equipment and is staffed by highly qualified engineers and technicians. In 2008, the laboratory underwent significant developments, coinciding with the relocation of the manufacturing plant. This strategic move aimed to enhance the efficiency of product testing and certification processes. Towards this end, the laboratory is equipped to test a wide range of medium-voltage switchgear products, to ensure a reliable power transmission for the electricity supply throughout the nation.

With its ISO 17025 accreditation, TAMCO Switchgear is well-positioned to meet the growing demand for high-quality medium-voltage switchgear products in Malaysia and the surrounding region. The accreditation also opens doors to new markets by meeting regulatory requirements in different regions. It enhances the competitiveness of the business, making it more attractive to clients who prioritize working with accredited laboratories.

The ISO 17025 accreditation is an internationally recognized standard for the competence of testing and calibration laboratories. To achieve accreditation, a laboratory must demonstrate that it has the necessary staff, equipment, and procedures to conduct testing and calibration to the highest standards.

For more information about TAMCO Switchgear and its industry-leading solutions, please visit www.tamco.com.my.

For media enquiries, please contact:

Esther Liew | esther.liew@tamco.com.my | +03-3361 8200

CORRECTION: BLUETTI Unveils Its Newest Products at CES 2024

SYDNEY, AU, Jan 4, 2024 – (ACN Newswire) – BLUETTI, a pioneer in portable power solutions, will introduce several new products at the upcoming CES 2024 (Consumer Electronics Show) in Las Vegas from January 9th to the 12th. In addition to displaying its various power stations and home energy storage systems, the company will debut two new products designed to enhance outdoor recreational activities: BLUETTI SwapSolar and AC240.

BLUETTI SwapSolar:

The SolarSwap is a combination of two products that are designed to work together, the AC180T and the MultiCooler.

The AC180T is a portable power station that employs a hot-swappable battery design which allows users to swap out its two 716.8 watt-hour (Wh) batteries without power interruption. The AC180T can operate with either one or both batteries inside, and is interchangeable with the battery that powers BLUETTI MultiCooler. With a total capacity of 1,433Wh, the AC180T has a 1,800 watts continuous output, and can handle peak loads up to 2,700 watts.

“That is enough power to run a full size refrigerator/freezer continuously for several hours, in the woods on a temperate day. Paired with our MultiCooler, the AC180T can keep your food fresh for about 6 days on two full batteries, without needing a recharge, in normal conditions.” – James Ray, Chief Officer of Product

The BLUETTI MultiCooler is a fridge, freezer, and ice maker all-in-one. It features a 40-liter compartment, enough to hold sixty-five 12 oz aluminum cans, with full temperature controls from -4°F to 68°F (-20°C to 20°C ). It can be charged from a wall outlet, solar panels, standard car-charging port or one of the AC180T’s batteries.

BLUETTI SwapSolar will be crowdsourced on Indiegogo starting January 9, 2024. The official launch is set for February.

BLUETTI AC240:

The AC240 is an expandable portable power station that has an IP65 rating. An IP (Ingress Protection) rating is the industry standard rating dust/dirt and waterproof protection for consumer electronic products, or a measure of how ‘weatherproof’ a product is. A Rating of IP65 offers full protection against dust and other small particles and offers protection against low pressure jets of water.

“The AC240 thrives in harsh conditions – perfect for beach outings, desert adventures, fieldwork, yachting, boating, fishing, and more. with over 2400 watts of power, it can run almost everything in an RV, such as fridges, window air conditioners, microwaves, heaters, and coffee makers.” – – James Ray, Chief Officer of Product.

Charging the AC240 takes 70 minutes from a standard wall outlet or as quick as 2 hours from three 400 watt solar panels (1,200 watts total). Its 15 millisecond UPS function allows for nearly instant home backup energy in the event of a power outage.

The AC240 is compatible with BLUETTI’s B210 expansion battery and adds 2,150 Wh of power for each B210. The B210 can also be used independently as a water-resistant DC power supply for small devices. One AC240 can be used with up to four expansion batteries, for a total system capacity of 10,000 Wh (10 kWh).

The AC240 goes on sale on BLUETTI’s official website and Amazon in early April 2024.

Other Products Displayed:

Alongside the above innovations, BLUETTI will showcase several new retail ready packaged versions of their portable power stations at CES 2024. These include the AC60P, the AC2P, and modular battery systems like the AC500 series and AC300 series for indoor and outdoor use.

BLUETTI LAAF Charitable Program: Power for All

At CES 2024, BLUETTI will also introduce its Lighting An African Family (LAAF) program, which aims to bring free solar energy to thousands of African families. Since its launch, the LAAF program has empowered over 100,000 African families in Kenya, Nigeria, Cameroon, and beyond. Driven by a vision to provide clean energy to all households, BLUETTI aspires to do its part and gather support from all sides to light up some of the darkest corners of the world.

Exhibition Details:

Date: January 9-12
Booth: #LVCC-North Hall 9645
Location: Las Vegas Convention Center, Nevada, USA

Go wild with BLUETTI and take your outdoor fun to the next level at CES 2024!

About BLUETTI

From the very beginning, BLUETTI has tried to stay true to a sustainable future by offering affordable green energy storage solutions for both indoor and outdoor use.

With years of innovation and a caring commitment to the environment, BLUETTI has curated an extensive and reliable product portfolio tailored for adventures, emergency backup power, and off-grid living, making a tangible and positive impact on minimizing our carbon footprint for the greater world we share.

That’s why BLUETTI has become an industry leader that makes its presence in 100+ countries and is trusted by millions of customers across the globe.

Contact: pr@bluetti.com

BLUETTI Unveils Its Newest Products at CES 2024

BLUETTI SwapSolar:

The SolarSwap is a combination of two products that are designed to work together, the AC180T and the MultiCooler.

BLUETTI SwapSolar will be crowdsourced on Indiegogo starting January 9, 2024. The official launch is set for January 31st.

BLUETTI AC240:

The AC240 goes on sale on BLUETTI’s official website and Amazon on early April, 2024.

Other Products Displayed:

BLUETTI LAAF Charitable Program: Power for All

Exhibition Details:

Date: January 9-12
Booth: #LVCC-North Hall 9645
Location: Las Vegas Convention Center, Nevada, USA

Go wild with BLUETTI and take your outdoor fun to the next level at CES 2024!

About BLUETTI

From the very beginning, BLUETTI has tried to stay true to a sustainable future by offering affordable green energy storage solutions for both indoor and outdoor use.

That’s why BLUETTI has become an industry leader that makes its presence in 100+ countries and is trusted by millions of customers across the globe.

Contact: pr@bluetti.com

Founder Securities rates Baguio (1397.HK) as ‘Strongly Recommended’ with a HK$1.10 target price, indicating a 57% upside

HONG KONG, Jan 2, 2024 – (ACN Newswire) – Founder Securities has issued a research report on Baguio Green Group (1397.HK), assigning a ‘Strongly Recommended’ rating and a target price of HK$1.10. This target suggests a potential 57% increase from the closing price on the date of the report.

One of Hong Kong’s largest integrated environmental services groups

Founded in 1980, Baguio was listed on the Stock Exchange of Hong Kong in 2014. The Company’s core businesses include cleaning, waste management and recycling, landscaping and pest management. Since its establishment, the Company has focused on the provision of cleaning services and has become one of the largest integrated environmental service providers in Hong Kong. The Company’s clients cover a wide range of industries and organizations, such as government departments, public organizations and multinational corporations.

Benefiting from the implementation of the MSW Charging policy

The HKSAR Government’s Municipal Solid Waste Charging (MSW Charging) will implement on 1 April 2024. Founder Securities is optimistic about the Company’s prospects as it will directly benefit from the implementation of the policy. The increase in public expenditure on waste treatment and recycling services is expected to generate incremental revenue for the environmental and cleaning companies. Since 2008, Baguio has been providing quality, sustainable, and comprehensive waste management services and integrated solutions for the collection, management, and recycling in Hong Kong.

Technology-enablement driving contracts on hand to a record high

For a long time, cleaning service has been a labour-intensive industry that relies on manpower to meet operational needs. In 2022, Baguio launched its green technology business to provide biotechnology, smart intelligence, Internet of Things, big data and AI solutions. Through technology enablement, the Company has won a number of government contracts. As of October 5, 2023, the Company’s contracts on hand increased to a record high of approximately HK$4.74 billion, which is expected to turn into revenue and profit in the future.

Profit forecast and investment Rating

According to Founder Securities, the Company has a competitive edge and has been rapidly gaining government contracts in the past three years. The Company’s contracts on hand increased to a record high of approximately HK$4.74 billion, which is expected to turn into revenue and profit in the future. Some of the Company’s recycling contracts charge the government on the basis of the weight of recyclables converted into reusable materials (e.g., PET bottles converted into recycled materials). The accelerated development of the recycling industry in Hong Kong will result in a significant increase in the recycling volume, contributing to the Company’s expected incremental performance. The firm estimates the Group’s profit for the year attributable to equity shareholder of the Company for 2023 and 2024 to be HK$41.4 million and HK$58.11 million respectively, corresponding to earnings per share of HK$0.10/ HK$0.14. Based on 8 times target P/E ratio and 2024 earnings, Founder Securities rates Baguio as ‘Strongly Recommended’, with a target price of HK$1.10.

CCCC issues ESG Report, top CSR Projects under BRI recognized

BEIJING, Dec 19, 2023 – (ACN Newswire) – The 10th Anniversary Event of China Communications Construction Company’s (CCCC) Joint Construction of the Belt and Road Initiative (BRI) was hosted in Beijing on December 15th.

The event, themed “In the Prosperous Silk Road’s Glow, Together We Construct a Brighter Tomorrow,” announced and commended CCCC’s top 10 projects under the BRI, including the Mombasa-Nairobi Standard Gauge Railway Project, the China-Maldives Friendship Bridge Project, the KKH Phase-II (Havelian-Thakot) Project, among others.

Pakistani Ambassador to China Khalil Hashimi presented awards for these projects. He called the KKH Phase-II (Havelian-Thakot) Project a lifeline of the China-Pakistan Economic Corridor, saying it reflects the wisdom of the Chinese side in multiple aspects.

The project marked in-depth cooperation between Pakistan and the CCCC, and also between Pakistan and China, Hashimi noted, adding that he looks forward to more outcomes of cooperation between the two countries.

The event also unveiled CCCC’s top 10 outstanding Chinese and international employees, who have been deeply involved in the infrastructure development of relevant countries and made important contributions to local socioeconomic development and people’s livelihood.

South Sudanese Ambassador to China, Monday Semaya Kenneth Kumba noted that as an internationally leading infrastructure construction company, CCCC boasts the most outstanding construction teams in the world.

The ambassador extended his gratitude to CCCC for its dedication and efforts in South Sudan, saying he looks forward to closer cooperation between more excellent teams from CCCC and his country, and more practical results in transportation infrastructure and developing local talents in South Sudan.

Over the past decade, CCCC has actively responded to the BRI, leveraged its full-industry-chain advantages, and upheld the ESG philosophy. It has launched the “Build Your Future Dream” social responsibility brand worldwide to fulfill its economic, environmental, and social responsibilities.

During the event, CCCC released its ESG Report for the BRI and its top 10 cases of CSR and brand building for the BRI.

The BRI has brought positive impacts to Sri Lanka in terms of foreign trade, tourism, and ecological conservation, said K. K. Yoganaadan, the Chargé d’Affaires of the Sri Lankan Embassy in China.

The Colombo Port City, in particular, has achieved remarkable accomplishments in environmental protection, which has safeguarded and enhanced the ecological environment and marine biodiversity in surrounding waters, Yoganaadan added.

Wang Yueran, huanqiu.com
Email: luojie@huanqiu.com
Phone: 13002252096
Website: http://www.huanqiu.com

Winter Fiesta at Spritzer EcoPark 2023: A Joyful Delight

KUALA LUMPUR, Dec 19, 2023 – (ACN Newswire) – Get ready to be dazzled as Spritzer welcomes everyone to Winter Fiesta at Spritzer EcoPark 2023: A Joyful Delight, promising an unforgettable winter celebration! From 18 December 2023 to 14 January 2024, Spritzer EcoPark transforms into a mesmerizing winter wonderland, brimming with festive cheer, twinkling lights, and delightful activities for families.

Whether you’re seeking a meaningful family outing, a romantic escape, or simply a way to embrace the festive spirit, Spritzer EcoPark’s Winter Fiesta has something for everyone. Mark your calendars, gather your loved ones, and prepare to be swept away by the magic of the holiday season at Spritzer EcoPark! The breathtaking transformation includes shimmering elfin lights draping the trees, casting a warm glow on winding pathways. Gigantic arches and holiday decor crafted from Spritzer used and rejected materials, to add a touch of whimsical charm. The centrepiece of it all is the magnificent 28-foot-tall Christmas tree, resplendent in all its glory, a dazzling spectacle adorned with sparkling lights and ornaments, crafted from recycled Spritzer bottles!

Festive activities for every age and interest extends beyond the mesmerizing decorations. Experience a flurry of snow from 22-25 December with 15-minute interval sessions starting at 6:30 p.m., 7:30 p.m., 8:15 p.m., 9:00 p.m., 10:00 p.m., and 10:45 p.m.

Besides the “icy fun”, unleash your creativity at the festive craft workshops, engaging in kid-friendly upcycling stations and practicing eco-friendly initiatives by creating unique art and craft, and decorations.

Make merry and challenge your loved ones to a friendly round of mini-golf where every fairway is wintery.

Embark on a heartwarming journey through the park and capture those lasting memories at the festive-themed photo booths. Spritzer encourages you to share your enchanting moments on Facebook or Instagram, #SEPWinterFiesta2023, and be sure it is a public post. Total likes and creative pose will be selected for to win the prize for best photography.

For more eco-friendly fun find out who has the best “powertrain” in pedal kart. Be merry at the giant outdoor bubble, reminiscent of snow-globes, to put a smile on your face and in your heart. Then refresh with the season’s latest chilling flavours at Spritzer’s food and beverage booths.

Immerse yourself in the charm of our small-town celebration, where the Winter Fiesta brings the vibrancy and excitement typically associated with big city festivities. From dazzling lights to bustling activities, Spritzer Ecopark becomes a hub of joy, proving that magical moments can happen in the heart of a small community.

Spritzer’s commitment to sustainability, through upcycling and recycling, is showcased in their wintery celebrations infused with the season festival. Recycled materials take center stage in the splendid decorations and wondrous activities. This Winter Fiesta full of joy and delight, reminds us to be thoughtful to the planet, and bring peace and goodwill to all.

Transforming the Indonesian Palm Oil Industry: Insights from Starbucks’ Traceability Journey

JAKARTA, Dec 17, 2023 – (ACN Newswire) – Rebranding is a dynamic process that can occur through various initiatives including alterations to brand identity or the introduction of a new name, symbol, or design associated with the refreshed offering. Revolutionary rebranding, often sparked by external demands unrelated to brand values, has been successful in cases such as McDonald’s, which transformed from a fast-food giant into a health-conscious restaurant in response to negative media coverage on obesity issues.

Indonesia is the world’s largest producer and exporter of palm oil, but also the world’s largest consumer, using it as edible oil and in biofuels. Here, an Indonesian agricultural worker inspects palm kernels for specialized downstream products. [Image: ANTARA FOTO]

In the plantation business, Starbucks stands out as a success story, shifting from negative perceptions of unfair trading in the coffee market to a pro-equal social business model. Originally known for premium coffee, Starbucks faced criticism for alleged unfair practices with coffee planters, prompting a transformation toward a more humane image. This shift involved the introduction of traceability, allowing consumers to explore the origin and journey of their coffee.

The country’s oil palm plantations are 53% owned by corporations, 42% registered as people’s plantations, with the remaining 5% under BUMNS (Ministry of State-Owned Enterprises).
Above, a company-owned plantation in East Kalimantan, Indonesia. [Image: ANTARA FOTO]

Similarly, the Indonesian palm oil industry could adopt a strategy akin to Starbucks to rebuild market trust by adopting robust agricultural practices.

Firstly, establishing a robust palm oil data center is crucial. This center would integrate maps detailing oil palm areas, spatial planning maps, profiles of smallholders, land ownership status, tree quantity, and quality, and the entire crop supply chain. With comprehensive data, Indonesia’s palm oil sector could tailor marketing prospects and strategies based on the characteristics revealed.

Secondly, creating market linkages tailored to the diverse needs of different farmers, with collaboration between the government and major palm oil companies essential. Initiatives should range from investing in value chains to enhancing the connection of farmers with relevant trading partners and buyers in formal markets, and contract farming to provide financial and technological support while safeguarding against risks like low supply quality. Certification schemes can aid smallholders in production and marketing, meeting the demands of ethically minded consumers, public-private collaboration in value chain investment would contribute to inclusive business practices among stakeholders and assist informal smallholders in navigating the complex formal corporate business landscape.

Thirdly, supporting well-organized farmer organizations is vital. Enhancing their financial and business skills is essential for achieving larger economies of scale through demand-driven collective marketing. The objective is to encourage farmers to collectively operate under independent, business-minded organizations, fostering durable trading relationships. This approach aligns with the principles that contributed to Starbucks’ success in transforming its business model and could be instrumental in revitalizing the reputation and practices of the Indonesian palm oil industry.

Palm oil, an edible vegetable oil derived from the fruit of oil palms, produces around
750 downstream products for the world market. Indonesia’s palm oil industry generates
4.5% of the country’s GDP and employs 3 million people. [Image: ANTARA FOTO]

Collaborative efforts between the government and palm oil companies should emphasize market linkage approaches tailored to the needs of different farmer types. This includes investments in value chains, contract farming, certification schemes, and public-private partnerships to foster inclusive business practices.

Applying Starbucks’ traceability journey to the Indonesian palm oil industry involves a strategic shift towards transparency, collaboration, and ethical practices. By embracing data-driven approaches, fostering partnerships, and supporting collective farming initiatives, the palm oil industry can navigate challenges and rebuild the trust of global markets.

By Fajril Amirul, Senior Officer
Indonesian Palm Oil Plantation Fund Management (BPDPKS)
https://www.bpdp.or.id/en/
Copyright (c) Antara 2023. Copyright (c) Antara 2023.

BLUETTI’s Christmas Sales and Three New Portable Power Stations Arrive for the Perfect Gift

SYDNEY, AU, Dec 15, 2023 – (ACN Newswire) – Christmas is coming, and, BLUETTI, a leading brand in portable power solutions, is giving you massive Christmas discounts, up to 27% off, on various power stations from Dec 15th. Meanwhile, it will also bring out three updated portable power stations–AC2A, AC70, and AC200L, offering even more gift options for this Christmas season.

Meet Three New Portable Power Stations

Versatile Powerhouse: BLUETTI AC200L

Preparing for a beach BBQ? The AC200L, an upgrade of the AC200MAX, has got this. It has a larger output of 2,400W to power your electric grills, fridges, fans, and more at once. And you can fast charge it at 2,400W from the wall without requiring an adapter.

When you’re feasting on the best salmon and prawns at your cookouts, your AC200L will harvest up to 1,200 watts from the sun, ensuring you always have plenty of power.

Even more versatile than the AC200MAX, the AC200L also works as a responsive home backup power supply. Its 20ms UPS mode will automatically detect power failures and keep your sensitive equipment running.

Mobile Power Hub: BLUETTI AC70

Building on the success of the EB70, the AC70 is also a grab-and-go generator for your holiday camping, picnic, and emergency backup. It has a similar power and capacity to its predecessor. So what’s new? With the AC70, you can turn on its Power Lifting mode through the BLUETTI app to run some resistive loads that normally draw 2,000W, such as kettles and power tools. Plus it charges faster: from empty to 100% in just 1.5 hours, without the need for an adapter. It also has a rapid 20ms UPS function for power failure preparedness.

On-the-go Power: BLUETTI AC2A

The AC2A will replace the EB3A as BLUETTI’s smallest power generator. The newcomer weighs just 3.6kg, which gives you an idea of how much power it packs – 204Wh, not a lot, but enough to power your 20W speaker for about 5.5 hours and your drones and phones several times. It’s perfect for fishing, camping, and hiking alike.

Explore the BLUETTI Christmas Collection

Outdoor Solar Generator Kit: BLUETTI AC180 + MP200

If you’re looking for a powerful solar generator bundle to keep your outdoor party powered– check out one of BLUETTI’s bestsellers: the AC180 with MP200 solar panel. This 16kg portable power station can power your lights, coffee maker, microwave, and even some 2,000W resistive loads.

It’s better to bring along some MP200 foldable solar panels if you have a bunch of gadgets plugged in. This will allow you to draw power from it while it charges efficiently from sunlight at 500W. The AC180 also charges quickly from the wall – from zero to 80% in 45 minutes – so you always have the power to go.

Scalable Home Backup Power: BLUETTI AC300 + B300

During the summer bushfire season, you may need this UPS as a home backup: the AC300 system will keep all your home essentials, including lights, refrigerator, and even air conditioner, running after 20ms of power loss. This modular battery system is customizable to your needs and budget. By choosing 2 to 4 B300 batteries, 3,072Wh each, you can scale up to a whopping 12,288Wh of power. The AC300 system recharges fast either via 3,000W mains charging, or 2,400W solar to maximize clean energy and save on your bills. If you need more power, check out its big brother – the AC500 with 5,000W output and a maximum flexible capacity of 18,432Wh. However, for an all-round power solution, the 2,000W/5,100Wh EP500 on wheels should do the trick.

Perfect Christmas Gifts from BLUETTI

When you buy from BLUETTI, you get more than a product – you get a greener, more energy-independent lifestyle, just like BLUETTI Hero Tom Phease.

Tom, 75, lives on a farm far from the grid. He bought BLUETTI’s AC300 and AC500 battery systems and connected them to his solar shed to achieve energy self-sufficiency. Tom even gave his friend Sarah an EP200P as a Christmas gift to help her save money on her electricity bill.

As well as huge power station deals this Christmas, BLUETTI will reward you with triple BLUETTI BUCKS on your order and a 5% discount for friend referrals. Make BLUETTI a special gift for yourself or your loved one, unlocking endless possibilities.

About BLUETTI

BLUETTI has been committed to promoting sustainability and green energy solutions since its inception. By offering eco-friendly energy storage solutions for both indoor and outdoor use, BLUETTI aims to provide exceptional experiences for our homes while also contributing to a sustainable future for our planet. This commitment to sustainable energy has helped BLUETTI expand its reach to over 100 countries and gain the trust of millions of customers worldwide.

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Contact: pr@bluetti.com

Verofax is among the Top UAE Future100 to Positively Impact the Nation’s Future Economy!

DUBAI, UAE, Dec 14, 2023 – (ACN Newswire) – Verofax, a leading compliance and commerce SaaS solution provider, has earned distinction as one of the top Future100 pioneering startups, selected by the Ministry of Economy and the Ministry of State for Government Development and the Future. This recognition underscores Verofax’s pivotal role in contributing positively to the UAE’s economy and enhancing its preparedness for the future.

The prestigious unveiling of the Future100 took place at the Award Ceremony hosted at the Museum of the Future, symbolizing a momentous occasion in recognizing and celebrating innovation. Future 100 has recognized Verofax for its innovative technology in decarbonizing industries and boosting the competitiveness of the country’s Industrial sectors.

H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, said “We congratulate the 100 companies that successfully made it to the final stage of the initiative’s first edition to become the best 100 companies of the future, possessing pioneering capabilities for growth and healthy competition,” Al Marri added “ We believe this is a turning point that will enable these companies to achieve more sustainable commercial success and access to regional and global markets.”

H.E. Ohood bint Khalfan Al Roumi, UAE Minister of State for Government Development and the Future, said: “Future100 has uncovered numerous startups and scaleups venturing into new sectors, receiving over a thousand applications from various targeted sectors over three months.”

Over 45 evaluators and experts across different sectors evaluated the applications, conducting interviews with company officials using a predefined set of criteria. These criteria encompassed the capacity for innovative business models leveraging new technologies, the potential of the target market, the ability to engage key customers through a well-defined business plan supported by clear financial data, the feasibility of the business with a strategy for securing future financing, and consideration of the impact of environmental and social governance in both the UAE and global contexts.

Verofax’s automates compliance, traceability and verification

As more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across the supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.

Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on the interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling thresholds are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”

Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, and commodity provenance, prevents recycling double counting, across a tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.

About Future100

Future100 is a collaborative initiative between the Ministry of Economy and the GovernmentDevelopment and the Future Office, united in their mission to foster the growth of 100 pioneering startups pivotal to shaping the trajectory of the UAE’s future economy. This innovative initiative focuses on sectors of strategic importance, including space exploration, renewable energy, and emerging technology, with the overarching goal of establishing novel benchmarks for the country’s economic landscape. Beyond its immediate objectives, Future100 aspires to propel the UAE’s standing in global competitiveness, entrepreneurship, and investment rankings, thereby solidifying the nation’s position as a frontrunner in the ever-evolving landscape of innovation and economic dynamism.

About Verofax

Verofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.

For media inquiries, please contact:

Wassim Merheby, CEO, Verofax

Email: info@verofax.com