Standard Chartered GBA business confidence survey shows sentiment holding up

HONG KONG, July 8, 2024 – (ACN Newswire) – Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today released the Standard Chartered GBA Business Confidence Index (GBAI) for the second quarter of 2024. The “current performance” index for business activity remained largely unchanged in Q2 at 54.1, compared to 54.3 in Q1, and near its strongest level since Q2 of 2021. The GBAI “expectations” index rose to 54.8 in Q2 from 54.0 in Q1, registering its first rise in five quarters. The figures remain comfortably above the 50 neutral mark, reflecting sustained expansionary momentum following a solid start to the year.

At the city level, Hong Kong’s “current performance” rose to 47.1 from 43.3, while “expectations” increased to 49.7 from 44.2, getting closer to the 50 neutral level. However, Guangzhou’s “current performance” index fell to 53.6 from 57.1 and “expectations” dropped to 56.6 from 60.6. Shenzhen posted the highest “current performance” at 57.3 and “expectations” at 57.1.

The performance among specific industry categories was diverse. “Retail and wholesale” (+3.9 points for “current performance” and +2.6 points for “expectations”), “financial services” (+15.0 points, +10.7 points) and “professional services” (+7.6 points, +12.3 points) all improved materially quarter-on-quarter. The May Labour Day holidays and an early start to the “618” online shopping festival probably boosted household demand, allowing “retail and wholesale” to beat “manufacturing and trading” (-0.9 points, +0.7 points), despite the latter’s stronger start to the year.

“Innovation and technology” (I&T) appeared to take a hit from tariff concerns, with the category’s “current performance” sub-index plunging to 43.9 from 57.8 previously, and “expectations” falling sharply to 38.1 from 54.6 in Q1. However, the level of confidence across I&T respondents varied in the three key cities of Shenzhen (42.0 for “current performance” and 33.7 for “expectations”), Guangzhou (50.0, 59.4) and Hong Kong (63.2, 76.0). This shows that not all tech companies are equally vulnerable to tariff hikes from countries in the west.

Kelvin Lau, Senior Economist, Greater China, Standard Chartered, said: “During the survey period, the US hiked tariffs on US$18bn worth of imports from China as part of its Section 301 review. The same period also marked the run-up to the European Commission’s more recent decision to impose anti-subsidy tariffs on Chinese electric vehicles (EVs). Some of our I&T respondents are probably part of such EV and lithium battery supply chains, and their reliance on external demand could be a lingering concern going into the US elections. That said, we take comfort from Hong Kong’s I&T outperformance, which likely reflected the city’s recent innovation and technology push via attracting strategic enterprises and related talent.”

New quality productive forces offer investment catalyst

The term “new quality productive forces” describes China’s push to modernise its economic growth model through technological innovation and transformation. While one of the main concerns over the push is whether there will be enough demand to absorb output from the increase in production capacity, only 11.7% of respondents saw “a very high risk” of overinvestment and potential overcapacity in some of the new industries, while a more substantial 36.7% described this as “only a low risk” while acknowledging that risks exist.

The risk of overcapacity or macro concerns such as an uncertain economic outlook did not deter GBA companies from upgrading equipment and planning to make other business investments in the next 12 months. Of the respondents, 26.1% said they planned to increase such investment materially or marginally, versus just 6.9% planning a decrease. A majority 67% opted for no change.

Irina Fan, HKTDC Director of Research, said: “Recent economic data from Mainland China indicates that the country’s growth remains at a solid pace so far this year. A greater role for Hong Kong is expected, particularly in the area of industrial transformation as the country focuses on pushing through the new quality productive forces. We also see room for financing and investment expectations to play catch-up.”

About the GBAI

The GBAI is the first forward-looking quarterly survey in the market that looks at the business sentiment and synergistic effects in cities and industries across the GBA. It is compiled based on a survey of more than 1,000 companies in the GBA covering the manufacturing and trading, retail and wholesale, financial services, professional services and innovation and technology sectors. The index enables investors and businesses to better understand the current business climate, gauge future performance prospects and formulate their market strategies for the GBA.

Related materials

Standard Chartered GBA Business Confidence Index Report: https://av.sc.com/hk/content/docs/hk-gbr-en-q2-2024.pdf
HKTDC Research: https://research.hktdc.com/en/article/MTczNTkwMDM0MQ

Photos download: https://bit.ly/4ePUtql

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Kelvin Lau (left), Senior Economist, Greater China, Standard Chartered, and Irina Fan (right), Director of Research, HKTDC, announced the latest GBA Business Confidence Index (GBAI) today (8 July).

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Kelvin Lau, Senior Economist, Greater China, Standard Chartered

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Irina Fan, Director of Research, HKTDC

Media enquiries

Corporate Affairs Department

Standard Chartered Bank (Hong Kong) Limited

Lilian Goh

Tel: (852) 3843 0341

Email: lilian.goh@sc.com

Communications & Public Affairs Department HKTDC
Katy Wong	Clayton Lauw
Tel: (852) 2584 4524	Tel: (852) 2584 4472
Email: katy.ky.wong@hktdc.org	Email: clayton.y.lauw@hktdc.org

About Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

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

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

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

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

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

AltaX, Hamilton Lane and Phillip Securities Collaborate on Tokenised Private Credit Fund under Project Guardian

Parties will address the challenges and opportunities of increasing access to private credit funds as part of the initiative
Enable seamless trading by leveraging an active global community of traders and market makers to enhance liquidity and market participation.
As part of their use case under Project Guardian, the parties also plan to introduce the world’s first tokenised Shariah-compliant private credit fund for an innovative private income product

SINGAPORE, July 8, 2024 – (ACN Newswire) – Alta Exchange (“AltaX”), a leading private market digital securities exchange in Asia; Phillip Securities Pte. Ltd (“PSPL”), a member of PhillipCapital; and leading global private markets investment management firm Hamilton Lane (Nasdaq: HLNE) today announced their collaboration in Monetary Authority of Singapore’s Project Guardian, a collaborative initiative between policymakers and the financial industry to enhance the liquidity and efficiency of financial markets through asset tokenisation.

Alongside joining Project Guardian, the three firms are collaborating on a use case aiming to broaden access to the tokenised version of Hamilton Lane’s Senior Credit Opportunities (“SCOPE”) Fund listed on AltaX, which launched in March of 2023. SCOPE is an all-weather senior private credit evergreen vehicle intended for investors seeking potential safety and yield.

Tokenising and listing SCOPE on AltaX marked the completion of the first of two strategic phases for the partnership. Phase one gave accredited and institutional investors the ability to manage their risk exposure dynamically, respond to market conditions with agility and seamlessly engage with a global community of active traders and market makers, thereby enhancing liquidity and market depth.

Phase two aims to look at other ways to broaden access to private credit, including by exploring the potential to introduce the world’s first Shariah-compliant tokenised private credit fund, with the aim of serving the underserved and rapidly growing global Islamic funds market.

“In today’s financial landscape, fixed income vehicles often lack short-term liquidity and accessibility, particularly for those seeking smaller investment opportunities. This restricts efficient capital allocation and hinders a more agile approach to portfolio management. At AltaX, we are committed to breaking down these barriers. Leveraging blockchain technology and our extensive network, we’re transforming the way global investors access alternative assets. Our collaboration with Hamilton Lane and PSPL underscores our commitment to financial inclusivity, expanding market reach, and enabling a diverse range of investors to participate in the growing private credit market,” said Kelvin Lee, Co-founder and CEO, Alta.

Victor Jung, Head of Digital Assets at Hamilton Lane, said: “We’re excited to partner with AltaX and Phillip Securities under Project Guardian, collaborating on a use case that focuses on tokenising our SCOPE Fund. We are focused on continuing to innovate around this offering, opening doors to investors of all types and fostering a more inclusive financial ecosystem. In our view, this collaboration is poised to have a significant impact on private credit and the broader private markets landscape.”

Mr. Luke Lim, Managing Director of Phillip Securities, said: “We are excited to be at the forefront of financial innovation through our collaboration with AltaX and Hamilton Lane under Project Guardian. This partnership represents an exciting frontier for Phillip Securities as we continue to innovate and develop new investment products for our clients. By combining our expertise and resources, we are able to bring cutting-edge solutions to meet the evolving and diverse needs of sophisticated investors. This is just the beginning, and we look forward to the significant impact this collaboration will have on expanding opportunities for investors globally and working together towards a sustainable digital asset ecosystem.”

Alta is committed to tackling the challenge of private market illiquidity with its accessible, efficient, and secure exchange platform. In acknowledgment of those efforts, Alta has recently been named as a 2024 Technology Pioneer by the World Economic Forum. Alta’s technology-powered initiatives are transforming the financial landscape by empowering a diverse array of investors to engage in alternative investments and the firm believes that broadening access to capital markets is crucial for fostering sustainable growth and generating new opportunities for communities globally.

About Alta

As the leading licensed digital securities exchange for alternative investments in Asia, Alta is building critical capital market infrastructure backed by the most active securities brokerages and bookrunners on the Singapore Exchange – Phillip Securities, PrimePartners and Nomura Holdings (Japan).

Empowering Private Markets: Through its digital securities exchange, Alta enables the tokenisation and digital custody of alternative assets. This end-to-end solution simplifies and expedites the trading of smaller asset blocks, ultimately facilitating access and liquidity in private markets. Access to capital markets is pivotal in all economies, and Alta believes that its role in building this critical infrastructure goes beyond facilitating trades; it paves the way for entrepreneurship, job creation, financial inclusion, and economic resilience, fostering a brighter future for emerging markets and economies.

Innovative Financial Ecosystem: Alta’s journey has seen it transition from securities trading and distribution of comprehensive products, including equities, private credit, funds, and asset-backed securities representing real world assets like whiskies, wines, to include fund management and digital custody.

Find out more on https://alta.exchange/

For media inquiries, please contact:
Deeksha Kakkar
Marketing Communications Specialist, Alta
deeksha.kakkar@alta.exchange

About Hamilton Lane

Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 700 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has over $920 billion in assets under management and supervision, composed of more than $124 billion in discretionary assets and approximately $796 billion in non-discretionary assets, as of March 31, 2024. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies.

For more information, please visit our website or follow Hamilton Lane on LinkedIn.

Hamilton Lane Media Contact
Immy Ransom
iransom@hamiltonlane.com

About Phillip Securities

A member of PhillipCapital, Phillip Securities Pte Ltd offers a comprehensive suite of financial products and services including broking in securities, futures, foreign exchange, bonds, precious metals and commodities, unit trusts, contracts for difference, exchange-traded funds, fund management, managed accounts, insurance planning, regular savings plan, investment research, equity financing and property consultancy. Institutions can also benefit from our corporate finance and advisory services as well as information technology solutions.

Since its inception as a stockbroker in 1975, PhillipCapital has grown into an integrated Asian financial house with a global presence and offers a full range of quality and innovative services to retail and high-net-worth individuals, family offices, as well as corporate and institutional customers. In 1996, Phillip Securities became the first retail broker to launch POEMS, an online trading platform and changed the way investors trade in Singapore.

Today, PhillipCapital headquartered in Singapore, operates in the financial hubs of 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), India, Indonesia, Japan, Malaysia, Singapore, Spain, Thailand, Turkey, UK, UAE, USA and Vietnam, serving over 1 million clients with Assets Under Management of total more than USD 50 Billion.

Find out more about us here https://www.phillip.com.sg/ and our award-winning trading platforms here https://www.poems.com.sg/

Hong Kong Investor Relations Association Announces Winners of the 10th IR Awards 2024

HONG KONG, July 5, 2024 – (ACN Newswire) – The Hong Kong Investor Relations Association (“HKIRA”) today announced the winners of the 10th Investor Relations Awards 2024 (the “IR Awards” or the “Awards”).

In its tenth consecutive year, the Awards recognises and honours investor relations (“IR”) excellence and best practices among Hong Kong listed companies and IR professionals. In the complex global financial and investment environment this year, effective communication between companies and investors has become crucial. The Investor Relations Awards Conference and Awards Ceremony invited experts and professionals in the field to discuss and share their different perspectives on strategies, latest trends, effective processes and best practices in investor relations. HKIRA was particularly honoured to have Dr Kelvin Wong, SBS, JP, Chairman of the Accounting and Financial Reporting Council, as the guest of honour and keynote speaker at the Awards Presentation Ceremony.

The 10th IR Awards 2024 received widespread support from listed companies and the investment community. A total of 120 companies participated in the Awards this year. As in previous years, the winners were first nominated by the public and then selected via online polling by qualified voters among buy-side and sell-side investors. More than 480 investors from over 277 financial institutions voted this year. The continued support demonstrates the recognition the IR Awards enjoys in the investment community. As the importance of investor relations continues to grow in the industry, HKIRA has continued to strive to raise the standard of IR excellence in Hong Kong by optimising the award mechanism to ensure the quality of the awards.

Of all the award categories, “Overall Best IR Company” is the most prestigious, as the winner is selected by the judging panel from among the winners of all the award categories for its overall exemplary performance in investor relations. This year, the winners of Overall Best IR Company by company size – Large Cap, Mid Cap and Small Cap – are China Resources Beer (Holdings) Company Limited, Xtep International Holdings Limited and CGN New Energy Holdings Co., Ltd.

Dr Eva Chan, Founding Chairman of HKIRA, said, “The 10th IR Awards held this year is an important milestone for us. It not only acknowledges our efforts over the past decade, but also marks a significant step towards a new phase of development. We are honoured and grateful for the strong support and participation of professionals from various industries. Despite the highly uncertain global capital market conditions, including high inflation, high interest rates, and geopolitical volatility, we are privileged to have the support of regulators and government bodies such as the Accounting and Financial Reporting Council, Hong Kong Stock Exchange, the Securities and Futures Commission, the Hong Kong Financial Development Council, member companies, investor relations professionals, and friends from the investment community, who have gathered together to share their diverse perspectives on investor relations strategies, latest trends, effective processes, and best practices. We hope this will inspire and drive more companies to achieve excellence in the field of investor relations.

“In the current complex and ever-changing global financial market, listed companies need to actively engage with investors, increase transparency, provide timely and accurate information, and strengthen relationships with various stakeholders. This is vital for the long-term development of companies. The organisation of the Investor Relations Awards not only recognises the efforts in investor relations work over the past year, but also celebrates outstanding practices within the industry, thus contributing to the prosperity and development of the Hong Kong capital market.”

Strategic Public Relations Group is proud to once again be the Official Public Relations Partner and Diamond Sponsor of the HKIRA IR Awards 2024.

Friends from the investment community and industry professionals attend the 10th Investor Relations Awards Presentation Ceremony

The winners of the 10th IR Awards include the following companies (in sequential order of tickers):

1	CK Hutchison Holdings Limited
2	CLP Holdings Limited
12	Henderson Land Development Company Limited
13	HUTCHMED (China) Limited
17	New World Development Company Limited
101	Hang Lung Properties Limited
135	Kunlun Energy Company Limited
178	Sa Sa International Holdings Limited
272	Shui On Land Limited
291	China Resources Beer (Holdings) Company Limited
331	FSE Lifestyle Services Limited
388	Hong Kong Exchanges and Clearing Limited
511	Television Broadcasts Limited
551	Yue Yuen Industrial (Holdings) Limited
659	NWS Holdings Limited
700	Tencent Holdings Limited
778	Fortune Real Estate Investment Trust
823	Link Real Estate Investment Trust
857	PetroChina Company Limited
887	Emperor Watch & Jewellery Limited
933	Viva Goods Co. Ltd.
1044	Hengan International Group Company Limited
1070	TCL Electronics Holdings Limited
1299	AIA Group Limited
1361	361 Degrees International Limited
1368	Xtep International Holdings Limited
1397	Baguio Green Group Limited
1810	Xiaomi Corporation
1811	CGN New Energy Holdings Co., Ltd.
1830	Perfect Medical Health Management Limited
1836	Stella International Holdings Limited
1929	Chow Tai Fook Jewellery Group Limited
2020	ANTA Sports Products Limited
2191	SF Real Estate Investment Trust
2199	Regina Miracle International (Holdings) Limited
2313	Shenzhou International Group Holdings Limited
2319	China Mengniu Dairy Company Limited
2325	Yunkang Group Limited
3998	Bosideng International Holdings Limited
6110	Topsports International Holdings Limited

For the complete list of winners, please visit: https://www.hkira.com/awards/ehall2024.php

Judging Panel

Professor Louis Cheng (Chairman of Judging Panel)
The Hang Seng University of Hong Kong; Dr. S H Ho Professor of Banking and Finance, Director of the Research Institute for Business, Director of the Research Centre for ESG
Dato’ Seri CHEAH Cheng Hye MAoF
Value Partners Group – Co-Chairman and Co-Chief Investment Officer
Mrs Amy Donati
EDICO Holdings Limited – Executive Director and Chief Executive Officer
Ms Ashley Khoo, CFA, CPA
CFA Society Hong Kong – Past President and Board Director
Mr Stephen Law
Hong Kong Institute of Certified Public Accountants – Council Member
Mr Andrew Look
CITIC Resources Holdings Limited – Independent Non-Executive Director
Ms Victoria Mio, CFA, FRM
FIL Investment Management (Hong Kong) Limited – Director, Asia Pacific Equity
Dr Maurice Ngai
General Committee and the Chairman of Membership Services of the Sub-Committees
Chamber of Hong Kong Listed Companies

About HKIRA
Hong Kong Investor Relations Association (HKIRA) is a non-profit professional association comprising investor relations practitioners and corporate officers responsible for communication between corporate management and the investment community. HKIRA advocates the setting of international standards in IR education, advances the best IR practices and meets the professional development needs of those interested in pursuing the investor relations profession.

HKIRA is dedicated to advancing the practice of IR as well as the professional competency and status of its members. To date, HKIRA has over 1,300 members most of whom are working for companies primarily listed on the Stock Exchange of Hong Kong. About 64% of the Hang Seng Index Constituent Stock companies are currently members of HKIRA. HKIRA’s members are from a wide spectrum of professions including IR, finance, accounting, company secretarial to corporate investment and hold positions at different corporate levels, including top executives responsible for IR and management of listed companies. For more information about HKIRA details, please visit our website http://www.hkira.com.

About the IR Awards
The HKIRA Investor Relations Awards (the “IR Awards”) is an annual campaign that aims to encourage, recognize and reward the excellence in investor relations practices by individuals and companies listed in Hong Kong Stock Exchange. Since the launch in 2015, each year the Awards seeks out and highlights the incredible achievements of individuals and companies with high standards in investor relations through their role modelling to the investment community.

The Awards ceremony, consisting of a conference in the morning and presentation in the afternoon, is a spectacular gathering of IR specialists and industry professionals that applauds and publicizes the year’s achievements in investor relations. For details of the Awards and online nominations, please visit http://www.hkira.com/awards.

Media enquiries:
Strategic Public Relations Group

Cindy Lung	Tel: +852 2864 4867	Email: cindy.lung@sprg.com.hk
Holly Szeto	Tel: +852 2864 4859	Email: holly.szeto@sprg.com.hk
Website: www.sprg.asia

Hong Kong Investor Relations Association

Scarlet Cheng	Tel: +852 2117 1846	Email: irawards@hkira.com
Website: www.hkira.com

HKTDC Export Confidence Index 2Q24: 2024 trade growth forecast upwardly revised to 9-11%

HONG KONG, June 27, 2024 – (ACN Newswire) – Hong Kong’s trade growth forecast for 2024 has been upwardly revised to between 9% and 11%. The surprise move was announced by the Hong Kong Trade Development Council (HKTDC) and marks a substantial upgrade to its initial estimation of 4-6% as announced at the end of last year.

This welcome uptick stems from two key economic indicators that signal good news for Hong Kong’s current and future export prospects. First, the HKTDC’s review of the first five months of 2024 showed export levels to be up by a hefty 12.5% year on year.

Confirmation of the improving business environment came in the findings in the HKTDC Export Confidence Index for the second quarter of 2024, which showed a substantial rally in both its crucial Current Performance and Expectation Indices.

HKTDC Director of Research Irina Fan said: “Taking all of these factors into account, HKTDC Research has revised its 2024 trade growth forecast to better reflect the overall upturn in demand and the generally more positive global trade outlook.”

Electronics exports shine in half-year review

The HKTDC’s review of the first five months of this year showed export levels rising by a hefty 12.5% year on year, driven by a surge in orders for electronic goods as well as parts and components, which typically comprise some 70% of the city’s total export value.

In terms of markets, exporters were generally optimistic across the board. The scores for Mainland China were particularly high with the Current and Expectation indices both rising above 60. Regarding the uptick in electronics exports, this has largely been sustained by rising output levels in production plants in the mainland and ASEAN countries. From January to May, Hong Kong’s overall level of mainland-bound exports rose 21.1% year on year, while exports to the ASEAN bloc climbed 19.8%. In both cases, industrial inputs and intermediate goods accounted for some 90% of the total exports.

HKTDC Research Principal Economist Wing Chu said: “Apart from consumer items such as audio-visual products (+11.2%), jewellery exports also rose by 2.0% largely on account of growing demand from emerging markets like the UAE. This rise happened despite the sluggish performance of some other consumer goods exports amid underlying sectoral divergence.”

Optimism uptick in new Export Confidence Index

Coinciding with the Mid-Year Trade Review, the findings of the Export Confidence Index for the second quarter indicate that exporters were 12 points happier with their Current Performance than in the first quarter, scoring 51.6 this quarter. This renewed satisfaction was also reflected in the Expectation Index (54.3), a measure of how confident exporters are about their likely performance in the coming quarter. Up to 73% of exporters are now expecting higher or maintained profit levels, compared to just 55.9% in the first quarter of 2024.

Exporters have also shown renewed confidence in demand from Hong Kong’s key markets. Across all six geographical market segments, only the prospects in Japan were ranked below 50, the threshold figure for likely market expansion. Exporters were the most optimistic about sustained demand from the mainland (up from 39.6 to 60.5) and from the United States (up from 34.5 to 53.6). Of the remainder – the European Union, ASEAN and the rest of the world – no market was accorded a score below 52.0.

In the second quarter, rising transport costs overtook an economic slowdown and recession as exporters’ primary concern, followed by higher capital costs and exchange-rate fluctuations. At the same time, they believe the growth of e-commerce, the upturn in overseas market activities as well as the wider deployment of artificial intelligence and other advanced technologies will provide fresh impetus to their businesses.

Promising outlook ahead

“While no country or territory’s economic performance can be seen as immune to the key factors currently impacting the global economy – notably geopolitical tensions, rising costs and exchange rate fluctuations – it is safe to say that Hong Kong has exceeded expectations for the first half of the year,” Ms Fan said.

She added that given the firm foundation Hong Kong has put in place and the growing faith in many of its key markets, there are reasonable grounds to assume that the welcome uptick in export performance “will be sustained for the rest of the year and, quite possibly, well beyond”.

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

References

HKTDC Research website: http://research.hktdc.com/
HKTDC Export Confidence Index 2Q24: A Significant Upturn Amid Rising Optimism https://research.hktdc.com/en/article/MTcyODk3MTYyMA
2024 Mid-Year Trade Review and Outlook: Surge in Electronics Orders Fuels Rapid Rebound in Export Levels https://research.hktdc.com/en/article/MTcyOTg1MjAzNQ

Photo download: https://bit.ly/4cdr6wu

HKTDC Director of Research Irina Fan (left) and Principal Economist Wing Chu (right) announced the 2024 Mid-Year Trade Review and Outlook and the HKTDC Export Confidence Index for the second quarter of 2024 at a press conference today

HKTDC Director of Research Irina Fan

HKTDC Principal Economist Wing Chu

Media enquiries

Please contact the HKTDC’s Communication and Public Affairs Department:

Jane Cheung

Tel: (852) 2584 4137

Email: jane.mh.cheung@hktdc.org

About HKTDC

Singapore-based Elite Partners Capital acquires Automotive Giant’s Global Logistics Center in close proximity to Stuttgart, Germany

SINGAPORE, June 27, 2024 – (ACN Newswire) – Elite Partners Capital announced its latest logistics acquisition in close proximity to Stuttgart, the automotive capital of Germany.

The large-scale multi-user logistics park located within Ettlingen West’s Industrial Zone boasts outstanding transportation infrastructure, including direct connections to the A5, A8 and A65 motorways, access to the Port of Karlsruhe – a major inland port along the Rhine waterway, as well as proximity to major international airports in Frankfurt and Stuttgart. The logistics park is also well-served by local buses and the suburban railway network, ensuring availability of a skilled workforce for warehouses and offices located in and around the property.

Spanning across a large site of c.180,000 sqm, the logistics park is in excellent condition and offers great third-party reusability by virtue of its contiguous but highly flexible layout. Leveraging on its strategic location in close proximity to Stuttgart, over 85% of the property’s net lettable area is currently tenanted to an automotive giant on a long lease, serving as their global logistics center. Elite Partners Capital will be working closely with the tenant to further enhance the property’s ESG specifications over the upcoming years. Post-enhancement, the property is expected to attain DGNB Gold Certification. The logistics park’s remaining lettable areas are tenanted to a good mix of innovative engineering businesses, supporting the region’s next-gen industrial growth.

Elite Partners Capital acquired the logistics park through its flagship Elite Logistics Fund II, a Pan-European logistics fund backed by a sovereign wealth fund alongside a strong network of family offices across Asia. Elite had previously divested the first installment of its Logistic Fund Series (Elite Logistics Fund I) to Blackstone in 2021, achieving an attractive IRR of over 30%.

“We have been closely monitoring the logistics market across Pan-European cities, targeting quality assets with strong tenant covenants and compelling value-add opportunities”, said Victor Song, co-founder and chief executive officer of Elite Partners Capital. “The stabilizing interest rates presents a strategic window of opportunity for our investors to re-enter the market,” added Song.

The asset was sold by a joint venture between TPG Angelo Gordon and aam2core Holdings AG. The landmark transaction was brokered by CBRE’s Capital Markets team in Germany. Taylor Wessing, Alvarez and Marsal and TA Europe were the appointed advisers for Elite Partners Capital in this transaction. Their invaluable practical and commercial insight were crucial in ensuring the successful closure of the deal.

About Elite Partners Capital

Elite Partners Capital is an alternative investment manager specializing in niche opportunities and underserved markets. The firm is headquartered in Singapore, with offices in London, Prague, and Luxembourg. To date, the firm has managed assets in excess of S$2 billion across 7 countries, a 420% increase from where it started in 2017.

For Media Enquiries, Please Contact:
Orphelia Huang
AVP, Investor Relations
orpheliahuang@elitepartnerscapital.com

High-resolutions images can be downloaded here.

ONERHT Foundation’s 7th GAIL Forum highlights urgent need to incorporate sustainability into everyday practices and company culture

SINGAPORE, June 26, 2024 – (ACN Newswire) – ONERHT Foundation Ltd (“Foundation”), the corporate social responsibility vehicle of RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”), successfully concluded the 7th edition of its Greening ASEAN: Initiatives & Leadership (GAIL) forum on 25th June 2024, held at the Suntec Singapore Convention & Exhibition Centre.

Guest-of-Honour Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, and Ms Kaylee Kwok, Chairman of ONERHT Foundation at the ONERHT Foundation GAIL Forum 2024 [L-R]

Guest-of-Honour Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, delivered the opening remarks, emphasising the need to develop innovative solutions and new technologies to ensure that the green transition costs remain affordable.

This year’s event brought together over 120 attendees, including business and industry leaders and sustainability domain experts, providing a platform for sharing expertise, experience and practical strategies.

Kaylee Kwok, Chairman of ONERHT Foundation, said, “At GAIL 2024, we witnessed the power of collaboration and innovation in driving sustainable development across ASEAN. ONERHT Foundation is proud to facilitate these important discussions and support initiatives empowering businesses and communities to embrace sustainable practices for a greener future.”

Expert panellists discussed key sessions that equipped SMEs with strategies to embed sustainability into operations while adapting to new reporting standards like International Sustainability Standards Board (ISSB), explored effective business strategies for navigating the carbon economy with tips on carbon measurement and management, and showcased how Singapore is leveraging AI and data capabilities to pioneer transformative sustainability solutions across industries, from emissions tracking to resource optimisation.

Abe Jacob, Director of RHT Green, said, “This year’s GAIL forum has highlighted the critical need for businesses to integrate sustainability at every level. The discussions on future-proofing SMEs, navigating the carbon economy, and harnessing AI for sustainability were particularly inspiring. Our collective efforts can lead to meaningful change, and I am more optimistic than ever about our ability to build a sustainable future together.”

The GAIL forum, initiated by ONERHT Foundation in 2018, aims to gather relevant expertise, knowledge and practical measures to enable businesses and other stakeholders in ASEAN to respond to the region’s growing call for sustainable development.

With the support of its donors and sponsors, ONERHT Foundation has raised more than S$5 million for over 35 charitable organisations since its inception in 2015. ONERHT, a multidisciplinary network of professional and specialist services, which includes sustainability consultancy RHT Green, remains committed to achieving its net zero carbon goal by 2030.

ONERHT Foundation Ltd

A Singapore registered charity and grant-making philanthropic organisation, ONERHT Foundation Ltd (“Foundation”) enables RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”) to do right and do good through various charitable endeavours.

Set up by ONERHT in 2015, the Foundation was registered as a Singapore charity by the Commissioner of Charities and a grant-making philanthropic organisation by the Inland Revenue Authority of Singapore on 16 September 2016 and 28 November 2016 respectively.

The Foundation seeks to establish, inspire and encourage the right philanthropic culture among the corporate and legal fraternity of giving back to the community in a focused, hands-on and meaningful manner. Since its inception, the Foundation has raised more than S$5 million to support more than 30 beneficiaries involved in education, the environment and sustainability, disadvantaged groups as well as the arts and sports.

For more information, please visit www.onerht.foundation

For media enquiries, please contact:
Elliot Siow / Elliot@waterbrooks.com.sg / +65 8375 0417

AGAPE ATP Corporation Explores Energy-Saving Solutions with B&H Intec Solutions

KUALA LUMPUR, June 21, 2024 – (ACN Newswire) – NASDAQ-listed AGAPE ATP Corporation (“ATPC”), is delighted to announce the relaunch of its subsidiary, now named ATPC Green Energy Sdn. Bhd. (“ATPC Green Energy”). ATPC had entered into a collaboration agreement yesterday, with B&H Intec Solution Sdn Bhd (“B&H”), a total building solutions provider, with a focus on delivering comprehensive energy-saving solutions, aligning with ATPC’s commitment to driving green energy initiatives.

From left: Vincent Tan, Vice President of ATPC, Ting Wan Lock, Head of Corporate Finance, and Prof Dato' Sri Dr How Kok Choong, Founder and Global Group CEO of ATPC; and Chen Wei Kent, CEO of B&H, Chung Wooi Hen, Sales Director of B&H and Khor Hock Thong, Marketing Director of B&H — From left: Vincent Tan, Vice President of ATPC, Ting Wan Lock, Head of Corporate Finance, and Prof Dato’ Sri Dr How Kok Choong, Founder and Global Group CEO of ATPC; and Chen Wei Kent, CEO of B&H, Chung Wooi Hen, Sales Director of B&H and Khor Hock Thong, Marketing Director of B&H

B&H brings over 14 years of experience in facilities mechanical and electrical (M&E) services, specialising in building tailored green retrofits and building maintenance. The company has a portfolio of more than 1,000 customers in Malaysia, including luxury hotels, major banks, transportation hubs, government buildings, office towers, mega shopping malls, and healthcare centres. Known for integrating the latest sustainable technologies into building management solutions, B&H’s expertise in monitoring systems, energy-saving retrofit and upgrading, preventive maintenance service, energy-saving consulting and outsourcing services will be instrumental to ATPC Green Energy. Accumulatively, B&H has already achieved contract values of more than USD 10 million (approximately MYR 47 million), underscoring their capability and trust within the industry.

Mr. Chen Wei Kent, Chief Executive Officer (“CEO”) of B&H said, “The potential in the energy-saving space is vast and untapped. Matching the right M&E services to different companies can result in a substantial reduction in energy consumption, or in other cases, a comprehensive green retrofit solution can improve a building’s energy efficiency and reducing its carbon footprint.

“The collaboration with ATPC will raise our profile, and it will allow us to continue to support more companies in achieving their energy-saving goals. With Malaysia’s energy demand projected to increase by 4.8% by 2030 and electricity demand growing faster than primary energy production, the need for alternative energy sources and energy-saving measures is urgent. In 10 years, Malaysia’s energy demand is expected to rise significantly, from 96.3 terawatt-hours to 206 terawatt-hours (TWh).”

In this collaborative arrangement, B&H’s founder and management team will join ATPC Green Energy as executive officers, leading the energy-saving solutions portfolio. They will also become shareholders in ATPC Green Energy, gaining an equity stake of 30%. This partnership allows ATPC Green Energy to leverage B&H’s expertise, customer base, and leadership, while aligning the interests of B&H’s founders through shareholding, supporting the long-term growth of the energy-saving solutions business.

Prof Dato’ Sri Dr How Kok Choong, the Founder and Global Group CEO of ATPC, explains, “We aim to address this urgent energy demand by providing innovative energy-saving solutions across major sectors, leveraging the extensive expertise of B&H leadership team. By combining our resources and expertise, ATPC Green Energy is well-positioned to drive energy efficiency initiatives across multiple sectors.”

“ATPC Green Energy is looking to provide innovative energy-saving solutions to various sectors, including hospitality, insurance, government, semiconductor, retail, and manufacturing, and we are pleased to have the strong support of B&H as we strive to achieve our mutual goals. Collaboratively, we are in the midst of pitching for a USD 2.0 million project, and we are optimistic about our prospect.” How added.

ATPC’s commitment to the UN Sustainable Development Goals drives the company to build a comprehensive renewable energy ecosystem in ASEAN. This includes energy-saving solutions, solar projects, and other renewable technologies. The Company hopes to develop a diverse portfolio, expand its energy-saving offerings, foster partnerships, and achieve a significant market share in the region.

NEXX officially introduces CK Asset Holdings Limited as a shareholder

HONG KONG, June 21, 2024 – (ACN Newswire) – The smart logistics technology company NEXX officially announced today that it has successfully introduced CK Asset Holdings Limited (hereinafter referred to as “CK Asset”) as a shareholder, and the two parties will jointly promote the intelligent development in logistics industry.

CK Asset Holdings Limited is a leading multinational conglomerate committed to achieving long-term sustainable growth through continual strengthening of its existing property businesses, and steady enhancement of its recurring income base via a prudent global investment strategy.

CK Hutchison Holdings Limited, also a member of the CK Group, is among the largest companies listed on the Main Board of the Hong Kong Stock Exchange. The group has four core businesses: ports and related services, infrastructure, telecommunications and retail (AS Watson Group).

Through reshaping the high-quality operating model of the logistics industry, NEXX provides more flexible, cost-effective, and scalable inventory solutions to enterprises and logistics users which assists them in reducing costs, improving operational efficiency and accuracy. The introduction of CK Asset as a shareholder marks a milestone in NEXX’s development and will increase investment in logistics AI research and development, actively layout the global market, and consolidate its competitive position in smart logistics.

About NEXX:

NEXX is the first smart logistics technology platform that provides iWaaS (intelligent Warehouse-as-a-Service) with a logistics LLM as the core.

For Press Enquiries:

Ms. Crystal Yip	Ms. Chelsie Tam
Tel: 9587 3234 / 3461 3661	Tel: 6094 3336 / 3461 3750
Email: crystalyip@nexx-global.com	Email: chelsietam@nexx-global.com

INVEST FAIR 2024-Kuala Lumpur: Navigating the Future of Investing “Money – Finance – Technology”

Held on June 22nd and 23rd, 2024 (10am-9pm), at Hall 1 of Mid Valley Exhibition Center, Kuala Lumpur, Malaysia
Two-day event featuring 65 expert speakers and 28 exhibitors with over RM50,000 worth of prizes
Jointly organised by ShareInvestor and InvestingNote, and supported by Bursa Malaysia, CFA Society Malaysia, Federation of Investment Managers Malaysia (FIMM) and Kumpulan Wang Simpanan Pekerja (KWSP EPF)

KUALA LUMPUR, June 20, 2024 – (ACN Newswire) – ShareInvestor Malaysia Sdn Bhd, Malaysia’s largest independent platform for investor relations, market data tools, and investor education, today announced the launch of INVEST FAIR 2024, Malaysia’s largest investment fair. Under the dynamic theme of “Money – Finance – Technology,” this year’s event encourages participants to embrace the evolving landscape of investing.

Held from 22nd June 2024 (Saturday) to 23rd June 2024 (Sunday) 10am-9pm, at Mid Valley Exhibition Center Hall 1, INVEST FAIR 2024 will host 65 expert speakers from the fields of fintech, cryptocurrency, property, stock market, funds and investment. These professionals will share their extensive knowledge through 65 enriching sessions covering a broad spectrum of topics, including the latest market outlook, sector insights, investment strategies, trading skills, and property investment. Selected sessions will be conducted in Malay and Chinese to engage all Malaysians in becoming prudent and savvy investors.

Mr Christopher Lee, Group Chief Executive Officer and co-founder of AlphaInvest Holdings Pte. Ltd., the holding company of ShareInvestor Malaysia Sdn Bhd, said, “Investing has never been so exciting. New technology such as Blockchain, Artificial Intelligence, and Virtual Reality has expanded the frontiers of investment. Tokenisation and Smart Contracts have made assets like real estate and debt more accessible to the retail investor. ETFs covering every asset class and major stock exchange indexes are available for investors to hedge and diversify their portfolios. In analytics, new AI-enabled tools in data visualisation and statistical probability help level the playing field for retail investors. It is in this spirit of enlightenment and innovation for the Finance industry that we hold Invest Fair.”

With 65 expert speakers from various sectors, INVEST FAIR 2024 is designed to cater to both seasoned investors and eager beginners. Topics will include the latest market trends, investment strategies, and innovative financial technologies. We are also excited to host 28 exhibitors, each representing different facets of the investment ecosystem, offering new possibilities to learn, connect, and grow.

In addition to the enriching sessions and valuable investment insights, more than RM50,000 worth of prizes are up for grabs. Attendees are encouraged to participate in the curated program, visit the various booths and participate in their various activities for a chance to win exciting prizes.

ShareInvestor Malaysia Sdn Bhd thanks its Platinum Sponsors — Bursa Malaysia, CGS international, FSMOne, Moomoo and Rakuten Trade for their support. They have played a crucial role in bringing together investors and experts for INVEST FAIR 2024, creating a platform for growth and learning that will benefit everyone.

For more information on the event and registration details, please visit our INVEST FAIR 2024 official website at https://investfair.com.my/ and registration at https://investfair.com.my/register/

About AlphaInvest Holdings Pte. Ltd. (www.alphainvestholdings.com)

A leading regional financial services, media and technology company, AlphaInvest Holdings Pte Ltd (“AlphaInvest” or “the Group”) was founded in 1999 to empower investors by providing them with trusted products and services for informed investment decision-making. Its core areas of business span investor relations, market data tools and investor education.

AlphaInvest Group operates the largest investor relations network in the region, with a customer base of about 700 public listed companies and a reach of over 300,000 people across its platforms. The Group has over 120 employees in four countries (Singapore, Malaysia, Thailand, and Indonesia).

The Group has made several strategic investments:
– in investor relations/public relations firm, Waterbrooks Consultants Pte Ltd (www.waterbrooks.com.sg)
– in Singapore’s leading social media platform for investors, InvestingNote (www.investingnote.com).

InvestingNote is the largest and most active social platform for investments in Singapore and Malaysia. It is a community-driven platform designed specifically to help investors and traders to share ideas on stocks, news and insights through social networking and a variety of useful investment tools.

ShareInvestor (www.shareinvestor.com) provides online market data tools for multiple markets across its ShareInvestor Station™, ShareInvestor WebPro™ and ShareInvestor Mobile range of products.

AlphaInvest’s digital publications include:
– Investor-One (www.investor-one.com), a website on investor education, market news, corporate developments, and data analytics;
– Inve$t, the e-magazine published weekly in Singapore and Malaysia.

AlphaInvest organises financial investment seminars and conferences for investors. Its annual large-scale events INVESTFAIR™(https://investfair.com.my/) in Malaysia and Singapore draws thousands of participants. Other key exhibition includes the largest REIT event ie REITS Symposium (www.reitsymposium.com).

Media Contact:
Mr Darren Chong
Head of Investor Platforms ShareInvestor / Investing Note
Email: darren.chong@shareinvestor.com
Mobile/WhatsApp: (+60) 014-944-1639

Alta Partners with Davidson Kempner to Enhance Investor Access to Multi-Strategy and Asset-Based Lending Strategies

Global investment management firm Davidson Kempner Capital Management selects Alta, Asia’s leading digital securities exchange, as a partner in the region
Alta’s partnership with Davidson Kempner provides access for investors seeking diversification through alternative investments

SINGAPORE, May 28, 2024 – (ACN Newswire) – Alta Alternative Investments Pte. Ltd. (Alta), Asia’s leading digital securities exchange for alternative assets, has partnered with global investment management firm Davidson Kempner Capital Management LP (Davidson Kempner) to enhance access to the firm’s strategies.

“Alta is proud to partner with Davidson Kempner to bring industry-leading opportunities to our investor community. There’s a growing demand for stable, income-producing portfolios and low-volatility strategies, especially amid persisting uncertainties in the markets, and we are addressing precisely that with this partnership. Alta is pioneering accessible avenues for alternative investments and this collaboration presents a distinctive investment opportunity aimed at breaking down barriers to enter private markets, enabling easy access to alternative assets typically reserved for high-net-worth individuals and institutional investors,” said Muzahir Degani, Head of Private Capital Markets, Alta.

In the past decade, private credit has skyrocketed, jumping from $320 billion in 2010 to $875 billion in 2020 in Assets Under Management (AUM). Now, major firms predict even more growth in Asia-Pacific lending for 2024, with a focus on top-tier borrowers over distressed cases. A Bloomberg survey anticipates a market expansion of over 10% this year.

In response to this surge, Alta has teamed up with global investment firms with unique access to opportunities. First, with Hamilton Lane to offer access to a senior private credit fund across the region. Second, collaborating with Scenic to introduce the Scenic Private Access Fund, providing direct venture secondaries.

Melanie Levine, Partner and Global Head of Sales & Client Service at Davidson Kempner, added, “At Davidson Kempner, we’re committed to partnering with investors through innovative solutions tailored to their unique needs with an emphasis on strong downside protection and capital preservation. Our partnership with Alta marks an important step forward in catering to the growing investor demand in Asia for multi-strategy and asset-based lending strategies.”

In an era marked by evolving investor demands for liquidity and portfolio diversification, Alta provides diverse investment opportunities in private capital markets, including a wide range of alternative assets. Most recently, Alta announced the inaugural trade for the first tranche of shares from shareholders of Income Insurance Limited. This marked the listing of Singapore’s top general insurance provider on a private securities exchange, enabling institutional and accredited investors to trade shares of a non-publicly listed company.

About Alta

As the leading licensed digital securities exchange for alternative investments in Asia, we are building critical capital market infrastructure backed by the most active securities brokerages and bookrunners on the Singapore Exchange – Phillip Securities, PrimePartners and Nomura Holdings (Japan).

Empowering Private Markets: Through our Digital Exchange, we enable the tokenization and digital custody of alternative assets. This end-to-end solution simplifies and expedites the trading of smaller asset blocks, ultimately facilitating access and liquidity in private markets. We believe that access to capital markets are pivotal in all economies, we recognize that our role in building this critical infrastructure goes beyond facilitating trades; it paves the way for entrepreneurship, job creation, financial inclusion, and economic resilience, fostering a brighter future for emerging markets and economies.

Innovative Financial Ecosystem: Our journey has seen us transition from securities trading and distribution of comprehensive products, including equities, private credit, funds, and asset-backed securities representing real world assets like whiskies and wines, to include fund management and digital custody. Visit us on https://alta.exchange/

About Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP is a global investment management firm with over 40 years of experience and a focus on fundamental investing with a multi-strategy approach. Davidson Kempner has over $37 billion in assets under management and over 500 employees across seven offices: New York, Philadelphia, London, Dublin, Hong Kong, Shenzhen and Mumbai. Additional information is available at: www.davidsonkempner.com.

For media inquiries, please contact:

For Alta Alternative Investments
Deeksha Kakkar
Marketing Communications Specialist, Alta
deeksha.kakkar@alta.exchange

For Davidson Kempner
Rob White and Teresa Berezowski
Greenbrook
davidsonkempner@greenbrookadvisory.com