HKTDC: 60% of Japanese companies expand RCEP business via Hong Kong

HONG KONG, May 8, 2023 – (ACN Newswire) – About 90% of Japan-affiliated companies based in Hong Kong manage or handle business in at least one Regional Comprehensive Economic Partnership (RCEP) market other than Japan, according to a recent survey conducted by the Hong Kong Trade Development Council (HKTDC).

HKTDC Director of Research Ms Irina Fan (L) and HKTDC Economist Mr Corey To (R) announced
the survey findings of Japanese companies in Hong Kong expanding their business in the RCEP market.

More than 60% of respondents plan to expand their RCEP operations through their Hong Kong office in the next three years, with the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) (40.4%) and the Association of Southeast Asian Nations (ASEAN) (39.4%) the most popular destinations.

The respondents are making use of Hong Kong's well-developed logistics and commercial networks, as well as its world-class business services to manage and expand their global business, particularly in the Asia-Pacific region.

Further integration into regional supply chains

RCEP came into effect last year, the world's largest free trade bloc made up of 15 member countries, including China, Japan, Korea, Australia, New Zealand and the 10 ASEAN economies. It accounts for about 30% of global GDP, trade and population, injecting impetus into regional economic development.

Last year, RCEP economies accounted for 71% of Hong Kong's total merchandise trade. "Hong Kong has applied for accession to RCEP and once approved, the city will become the first new member of the bloc, enjoying a wide range of benefits, such as tariff concessions. It will also help Hong Kong further integrate into regional supply chains and strengthen trade and investment with other members in the bloc, especially Japan and Korea, which have yet to sign free trade agreements with the city," HKTDC Director of Research Ms Irina Fan said.

Hong Kong: Premier platform for RCEP

About 1,400 Japanese companies have set up regional headquarters or offices in Hong Kong. With the support of the Hong Kong Japanese Chamber of Commerce & Industry (HKJCCI), the HKTDC has surveyed more than 100 Japanese companies via a questionnaire to better understand their business development in the first year of RCEP, advantages of the Hong Kong platform and services, and the city's role in helping them expand into the RCEP market.

Most of the survey respondents operate in the import and export trade sector, followed by wholesale and retail, finance and logistics. More than 20% said their Hong Kong office serves as the company's overseas headquarters or main regional office that manage operations outside of Japan. Other functions include marketing and sales (73.5%), logistics and supply chain management (36.3%) and sourcing and procurement (25.5%).

HKTDC Economist Mr Corey To said while Hong Kong is currently playing an important role in facilitating RCEP related business (close to 90% of the respondents manage or handle RCEP business via Hong Kong), over 60% of the respondents see Hong Kong as "important" or "very important" in helping them capture arising business opportunities in the RCEP region.

Respondents also revealed that strong regional connectivity makes Hong Kong the premier platform for RCEP. Core strengths include business networks with Mainland China (88.8%), freedom of capital flows and currency exchange (79.7%), efficiency as a transshipment and distribution hub (72%) and more.

More benefits from Hong Kong's RCEP accession

The survey also found that more than half of the Hong Kong-based Japanese trading companies have already enjoyed RCEP benefits, such as unified rules of origin, lower tariffs and streamlined customs procedures. Close to 80% anticipate more benefits, should the city join the bloc. This reflects Hong Kong's role as a major logistics hub in the region as well as its deep trade ties with many RCEP economies.

Mr To said among the non-trade sector, 60% expected to benefit from Hong Kong's RCEP accession, largely because of the anticipated increase in economic activity and investment flows across Mainland China, Hong Kong and Japan, and due to improved access for service sectors and enhanced intellectual property rights protection, which will create new opportunities for different sectors, such as e-commerce.

Overall, more than half of the respondents suggested that Hong Kong's accession to RCEP would improve their company's ability to capture RCEP business opportunities. Providing marketing information about RCEP economies and encouraging co-ordination among public bodies and regulators were also seen as helpful.

Hong Kong as a base for regional business

The survey results echo the statements made in HKTDC Research's in-depth interviews conducted with Japan-affiliated companies in Hong Kong. These case studies show Hong Kong's competitive edges in a number of areas, which is beneficial to Japanese companies that aim to leverage Hong Kong as a base for business expansion in the region: solid financial infrastructure, well-established hub for international trade and logistics, quality professional services and a pool of diversified talents, prime location adjacent to GBA and among key economies in the Asia-Pacific.

Please read Japanese Business Perspectives series published by HKTDC Research for more details:

Interviewee: Takeshi Iida, President and Managing Director, Mitsubishi Corporation (Hong Kong)
Research article: Harnessing the Power of Hong Kong as a Commercial Hub
https://research.hktdc.com/en/article/MTEwNjgwMzA0MA

Interviewee: Atsushi (Ash) Kato, Head of Corporate Office, NTT DATA Hong Kong Limited
Research article: Integrating Regional Payment Solutions via the Hong Kong Hub
https://research.hktdc.com/en/article/MTEzMzgwMjM0Nw

Interviewee: Min Zhu, CEO, BYFIN (SBI Group)
Research article: Hong Kong-Facilitated GBA Fintech Opportunities
https://research.hktdc.com/en/article/MTA4OTc3MDI5Nw

Interviewee: Yoshinori Nakamura, Managing Director, Tachibana Sales (Hong Kong) Ltd
Research article: Hong Kong Powers Regional Electronics Trade
https://research.hktdc.com/en/article/MTE1NDU3ODg1Mg

Interviewee: Susumu Muguruma, Chief Operating Officer, Valuence Holdings
Research article: Taking the Pre-owned Luxury Goods Trade Global via Hong Kong
https://research.hktdc.com/en/article/MTEyNjA3MDkzOQ

References
– HKTDC Research website: http://research.hktdc.com/
– Japanese companies see Hong Kong as premier business platform to tap RCEP opportunities: https://bit.ly/41ZN80v
– Photo download: https://bit.ly/3AIpppV

About HKTDC

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

Media enquiries
Please contact the HKTDC's Communication and Public Affairs Department:
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org

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

Chiratae Ventures Maiden Growth Fund-I announces its close at INR 1001 cr, oversubscribed by 34%

Singapore, May 3, 2023 – (ACN Newswire) – Chiratae Ventures, India's largest homegrown venture capital fund, has successfully concluded the fundraising for its first Chiratae Growth Fund (CGF-I), raising INR 1001 cr. On a targeted INR 750 crore, CGF-I has been oversubscribed by 34%. The announcement of the close of CGF-I comes on the heels of Fund 4, which was oversubscribed by 22%. This marks a continued trend of Chiratae's funds being oversubscribed, highlighting the confidence and faith placed in the firm's ability to identify and nurture promising startups poised for growth and success.

CGF-I will invest in the growth rounds of market-leading technology startups from its portfolio and other new opportunities, making it a sector-agnostic fund to support the growth and expansion of companies.

CGF-I is supported by Chiratae's existing investors, including Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, new investors including State Bank of India, India Infoline Limited (IIFL), Axis Bank and others. With this new CGF-I, Chiratae Ventures will continue its mission of supporting innovative technology startups in their growth stage and unlocking their potential.
Chiratae Ventures has a successful track record of investing in early and growth-stage startups over the past 16 years. The Chiratae Funds collectively (across 6 funds) have $1.1 Bn in AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to the investors in each of the last 12 years. Chiratae Ventures has been an early backer of technology-led companies such as Bizongo, Curefit, Fibe, Firstcry, Lenskart, Myntra, PolicyBazaar, Pixis, Vayana, and Uniphore, amongst others.

Sudhir Sethi, Founder and Chairman of Chiratae Ventures, said, "We are excited to have raised our first Growth Fund, enabling us to continue supporting the growth and expansion of market-leading technology startups in India and beyond. The oversubscription of the fund by 34% is a testament to the trust and confidence our investors have placed in us. As we embark on this exciting new chapter, we remain committed to identifying and investing in innovative startups that have the potential to drive transformative change and create long-term value. Thank you to our existing investors Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, we welcome the new ones, State Bank of India, IIFL, Axis Bank and others."

On closing the Chirataes' first Growth Fund, TC Meenakshi Sundaram, Founder and Vice-Chairman of Chiratae Ventures, said, "The successful fundraising for Chiratae's First Growth Fund is a testament to the quality of the investment strategy and our team's ability to identify and support exceptional entrepreneurs. With the Growth Fund -I, we are well-positioned to continue to support promising startups through their growth journey and create value for all stakeholders by becoming market leaders. We thank all our investors for their continued support to Chiratae."

About Chiratae Ventures

Chiratae Ventures is a 16-year-old Indian technology venture capital fund, which collectively (across 6 funds) has $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The Chiratae funds have investments across sectors such as Consumertech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others.

Chiratae Ventures's Global Advisory board consists of esteemed personalities such as Mr Ratan Tata (Chairman), Mr Kris Gopalakrishnan, Mr Manish Choksi (Vice Chairman Asian Paints), Mr Bruno Raschle (Founder Adveq Zurich), Dr Andreas Hettich (Chairman Hettich Corporation Germany) and Dr Ferzaan Engineer (Founder Cytecare and Nightingale).

Contact:
Namrata Sharma
Namrata.sharma@adfactorspr.com
+6581383034

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

Hong Kong advantages in green buildings

HONG KONG, Apr 27, 2023 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) and Link Asset Management Limited (Link) released a survey study, "Hong Kong Green Capabilities in Real Estate Development and Property Management: RCEP Opportunities", which highlights seven distinct advantages of Hong Kong in the field of green buildings.

Irina Fan, Director of HKTDC Research (L) and George Hongchoy, Executive Director and Chief Executive
Officer of Link (R)

The report also underscores green building challenges across the Regional Comprehensive Economic Partnership (RCEP) countries, with which Hong Kong can strengthen collaboration in four major areas to expand Hong Kong's and regional green building capacities to create a greener and sustainable future: climate risk assessment and design consulting; green financing; construction and facility management digitalisation; and green material certification and sourcing.

Mr George Hongchoy, Executive Director and Chief Executive Officer of Link Asset Management Limited, said: "We are delighted to learn that Hong Kong's real estate sector is in a leading position in terms of green competences among the major RCEP markets being examined. As a real estate asset manager and investor based in Hong Kong, sustainability is at the heart of Link's operation. We have been incorporating sustainability consideration in almost every part of our business, pioneering many sustainability applications in our daily operations, and striving to achieve net zero carbon emission by 2035. We are keen to work with other industrial practitioners to further advance sustainability initiatives in Hong Kong and showcase the city's green capabilities in RCEP markets to capture new opportunities in the region."

Ms Irina Fan, Director of HKTDC Research, said: "Green real estate development and property management are a key element in achieving net zero by 2050, particularly in the case of Hong Kong, where 50,000 private and government buildings generate 60% of the city's carbon emissions. The progress made towards green buildings in Hong Kong in recent years is encouraging, thanks to the joint efforts of industry stakeholders. At the same time, demand for green real estate and property management services in RCEP economies is also growing. Hong Kong practitioners are well placed to take advantage of the momentum to seize business opportunities in RCEP countries, establish Hong Kong's leading position in green buildings in the global marketplace and create stronger synergies."

Hong Kong's seven green building advantages

The survey has been compiled through a three-pronged approach: (1) Desktop research on Mainland China, Hong Kong and other RCEP countries of interest to understand and compare green buildings trends; (2) In-depth interviews with more than 70 stakeholders in the real estate and property management sectors in RCEP countries and Hong Kong between July and November 2022 to assess the green capabilities of Hong Kong's real estate and property management industries; (3) Questionnaire survey via phone and online of 300 practitioners from Australia, Japan, Mainland China, Singapore and South Korea with the aim of gaining a better understanding of the green capabilities of the real estate and property management sectors across the RCEP bloc, while exploring collaboration opportunities for Hong Kong practitioners. All survey respondents are manager level or above and have been involved in green construction, property development or facility management projects for more than four years.

The report identifies seven advantages of Hong Kong in the green building field, including:

1. Green finance: Hong Kong is Asia's leading green finance hub with a deep capital pool capable of meeting the diverse financing needs of the real estate sector;

2. Green building products and embodied carbon reduction: Local manufacturers of construction materials have made use of waste materials in their production processes to reduce embodied carbon emissions;

3. Industry coherence: Hong Kong's well-established testing, inspection and certification (TIC) industry plays a pivotal role in certifying green building products and projects;

4. Innovative construction methods: The application of new construction approaches with higher efficiency and lower production costs, like digitalisation and prefabrication, has been pioneered by Hong Kong's real estate developers;

5. Facility management: World-renowned for its skyline of supertall skyscrapers, Hong Kong is now turning up the dial on high-rise sustainable development and management;

6. Alternative and renewable energy and sustainable lifestyle: Hong Kong's power suppliers have been promoting a sustainable lifestyle and energy efficiency through measures like renewable energy development, energy management, digitalisation and retrofitting; and

7. Sustainable community development: Hong Kong's industry practitioners have built features, such as common social facilities and shared climate-resilient infrastructure into the design of real estate developments, to create sustainable, well-connected communities.

Challenges for RCEP members

Our survey results show that reducing energy consumption, encouraging sustainable business practices and lowering greenhouse gas emissions are the top three reasons for adopting green building practices, as indicated by 43%, 41% and 35% of the respondents, respectively. In terms of specific green building approaches, site planning and construction management (85%) is ranked highest, followed by sustainable architectural design and construction techniques (83%), and energy and waste management (81%).

The aspects that are considered the most challenging by respondents are efficient use and reduction of construction materials (18%), air quality monitoring and air purification (18%), monitoring and reducing energy consumption (17%) and use of recycled or eco-friendly construction materials (17%). Passive design (2%), BIM modelling (4%) and Daylighting designs (6%) are considered the least challenging in the region, perhaps reflecting Asia's strong expertise in architectural design.

While sustainability has gone mainstream, challenges for green building activities vary across countries. Japan, South Korea and Singapore face high initial costs, with 46%-56% of respondents citing costs as the top challenge for increasing green building activities. Mainland China is faced with a lack of experienced talent (44%), while Japan is struggling with securing financial resources (40%). The low availability of certified green building products and services is another area of concern among the South Korean (32%) and mainland Chinese (33%) respondents.

Hong Kong can meet the needs of the RCEP market in four major areas

The views of the survey respondents together with the in-depth stakeholder interviews carried out in Hong Kong and the five selected RCEP markets summarise four major areas, for which Hong Kong's green building capabilities can best meet the needs of RCEP markets. They are: climate risk assessment and design consulting services; green financing; construction and facility management digitalisation; and green building product certification and sourcing.

1. Climate risk assessment and design consulting services

Hong Kong has a well-established TIC industry and is seen as an experienced player in handling a volatile climate. With 72% of respondents saying that they believe Hong Kong excels in design concepts and construction techniques, the city's experience in handling volatile climates and constructing high rises could be valuable in RCEP markets. According to the survey, biophilic design / landscaping with greenery (42%) and climate risk assessment (34%) will be the most and the fifth most popular green building approach, respectively, for the next 12 months. Hong Kong is well placed to ride on its experience to provide these services to Australia, Mainland China, Singapore, and South Korea.

2. Green financing

Hong Kong is a leading financial centre that actively participates in sustainable finance development and can play a key role in providing green financing and carbon trading services to Japan, Mainland China and South Korea. According to the survey, 84% of the respondents showed an interest in increasing the use of green finance products and services in the coming 24 months, to enhance public recognition of (cited by 72%), public engagement with (cited by 65%) and transparency (cited by 60%) of their sustainability strategies.

3. Construction and facility management digitalisation

Hong Kong is experienced in the adoption of BIM, MiC and DfMa, while city practitioners are also good at implementing digitalisation in facility management and retrofitting existing buildings. Hong Kong can transfer knowledge of installing indoor air monitoring and control systems and smart waste management systems to RCEP. According to the survey, AI to improve energy efficiency (41%) and the construction process (37%) will be the second and the third most popular green building approaches, respectively, for the next 12 months.

4. Green building products certification and sourcing

As the world's sixth largest trading entity in merchandise trade, Hong Kong has a well-established assessment and certification protocol for green construction materials that can facilitate the sourcing of eco-friendly materials, and Japan, Mainland China and South Korea will be the focus markets. According to the survey, even though 40% of the respondents have already adopted recycled or eco-friendly construction materials in their projects, they still find the sourcing and application of eco-friendly materials a challenge due to the lack of standardisation and certification. Hong Kong can work with the RCEP market to develop a standardised assessment and certification protocol for green construction materials and set up a comprehensive regional database and platform of eco-friendly materials and suppliers.

References
– HKTDC Research Portal: http://research.hktdc.com/
– Hong Kong Green Capabilities in Real Estate Development and Property Management: RCEP Opportunities https://research.hktdc.com/en/article/MTM2MTk3MTk5Nw
– Photo download: https://bit.ly/40KTqQl

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 Link

Link Real Estate Investment Trust (Hong Kong stock code: 823) is the largest REIT in Asia by market capitalisation. It is managed by Link Asset Management Limited, a leading real estate investor and asset manager in the world. Since its listing in 2005 as the first REIT in Hong Kong, Link REIT has been 100% held by public and institutional investors. It is a constituent of the Hong Kong securities market benchmark Hang Seng Index, as well as a component of the Dow Jones Sustainability Asia Pacific Index, the FTSE4Good Index Series and the Hang Seng Corporate Sustainability Index. From its home in Hong Kong, Link Asset Management Limited owns and manages a diversified portfolio including retail facilities, car parks, offices and logistics assets spanning from China's Beijing, Greater Bay Area (Hong Kong, Guangzhou and Shenzhen), and Yangtze River Delta centred around Shanghai, to Singapore, Australia's Sydney and Melbourne and the UK's London. Link Asset Management Limited seeks to extend its portfolio growth trajectory and grasp expansion opportunities in different markets in pursuit of sustainable growth. For details, please visit https://www.linkreit.com

Media enquiries
For enquiries please contact:
HKTDC
Corporate Communication & Marketing Department
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org
Eric Wong, Tel: +852 2584 4575, Email: eric.ks.wong@hktdc.org

Link Asset Management Limited
Kelvin Tam, Tel: +852 2175 1870, Email: kevin.hf.tam@linkreit.com
Krista Chan, Tel: +852 2175 1344, Email: krista.hl.chan@linkreit.com

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

ASTI Says Requisitioners’ Call for Board Overhaul Could Disrupt Operations After Recent Financial Turnaround, and Be Counter-Productive to An Exit Offer

SINGAPORE, Apr 27, 2023 – (ACN Newswire) – ASTI Holdings ("ASTI" or the "Company") said today that any attempt to overhaul the composition of its current board of directors would potentially disrupt operations and financial performance after a recent turnaround, and be counter-productive to ongoing efforts to secure an exit offer to unlock value for shareholders.

The directors were responding to the 53-page 3 April 2023 Circular released by four shareholders – Mr. Ng Yew Nam ("Mr. Ng"), Mr. Lim Chee San, Mr. Toh Cheng Hai and Mr. Ng Kok Hian – who had requisitioned to replace the current board of SGX Mainboard-listed ASTI with new directors. The directors consider several statements in the circular to be "wrong or misleading or give an incomplete picture".

While the requisitioners had highlighted "adverse developments… and the deteriorating value of the Company's shares", the directors said ASTI had declared an interim dividend of 0.45 Singapore cent for the financial year ended 31 December 2022 ("FY2022") – its first from operating profits in a decade – after recording a profit after tax of S$3.0 million that reversed a pre-tax loss of S$8.1 million in FY2021.

The Board said the FY2022 turnaround led by Mr. Anthony Loh (the CFO who was given additional duties on 31 December 2021 as Acting CEO) was achieved after retrenchments at ASTI and its 40.9%-held subsidiary Dragon Group International Limited ("DGI"), ceasing loss-making units, downsizing corporate and administrative functions and relocating to a smaller office.

Notably, the Directors added, the cost-cutting included reducing the remuneration of the then CEO, Dato' Michael Loh and the then Group Business Development Director Mr. James Soh ("Mr. Soh") which reduced total employee remuneration by S$3.3 million per year. The latter is one of two candidates proposed by the requisitioners as incoming executive directors.

Mr. Soh was ASTI's Vice President of Business Development from 2019 up to his retrenchment in 2021, a tenure which coincided with the Company's recent loss-making years. He was concurrently the Vice President of Business Development at DGI. In FY2020, Mr. Soh was ASTI Group's highest-earning employee (excluding the CEO and directors) with an annual remuneration range of S$500,000 to S$599,999. In FY2019, he was one of the top four earners in the Group, with annual remuneration of between S$250,000 to S$499,999, ASTI said.

Despite the FY2022 performance, ASTI could not meet the deadline of 5 June 2022 to exit the SGX-ST Watch-list as its six-month average daily market capitalisation was short of the S$40 million threshold. After several attempts to extend the deadline were rejected, ASTI's shares were suspended from 5 July 2022 pending the completion of an exit offer. ASTI is currently in discussions with Thailand-listed Capital Engineering Network Public Company Limited on a potential exit offer.

"The Company's positive performance in FY2022 puts it in a stronger position to secure a fair and reasonable exit offer for shareholders as part of its directed delisting. This remains the Board's immediate priority, and it is presently working hard to secure the same in order to maximise value to the Company's shareholders," ASTI said.

An overhaul of the management team and the removal of Acting CEO Mr. Anthony Loh "would potentially disrupt the Company's operations and affect the Group's financial performance moving forward. The Proposed Resolutions would also be counter-productive to the Board's efforts to secure an exit offer in the near future" ASTI added.

ASTI also expressed concerns relating to the two persons that the requisitioners had proposed as incoming executive directors – Mr. Ng and Mr. Soh.

ASTI directors believe Mr. Ng has limited experience managing a listed company and "in navigating the company through the delisting and exit offer processes." While the requisitioners' circular had cited Mr. Ng as the current managing director of iTrue Technologies Pte. Ltd. and iTrue China Private Limited, a search of the ACRA business registry did not find any company registered under the latter name. ASTI urged shareholders to seek clarification as to whether there may be any other omissions, errors, or inconsistencies in the information provided by Mr. Ng in the Circular.

As to the other proposed executive director, Mr. Soh – a former Vice President of Business Development of the Company – who is now a business consultant to ASTI "had on several occasions declined the Board's various invitations to familiarise himself with the Company's business". Also, he has no prior understanding of the Company's tape and reel business operations in the Philippines, the Directors said.

The Directors also asked if the Proposed Directors including Mr. Soh and Mr. Ng had "a reasonable timeframe in which they aim to achieve a successful exit offer should they be appointed, whether they currently already have viable leads on an exit offer and whether they would be prepared to share these with the Company now that the Requisitioning Members have failed to call the Proposed EGM."

The Board announced last week that the Extraordinary General Meeting originally proposed to be held on 5 May 2023 ("Proposed EGM") was invalid and does not and cannot constitute a proper EGM as the requisitioners had failed to despatch relevant documents to shareholders on time.

The Board warned requisitioners "not to take any further step towards any purported 'postponement' of the Proposed EGM", and that such actions "would be treated as deliberatively disruptive… as well as an attempt to sow confusion on the other shareholders."

The Board also "exhorts the Requisitioning Shareholders as well as Mr. Soh to be "transparent and forthcoming", and requested that Mr. Ng "should be transparent as to his possession or control of, or access to, one or more shareholding list(s) of the Company, or else he should issue an unequivocal denial. He should also explain the several sale and purchase agreements he entered into in February 2023… the price(s) he agreed to pay for the shares in question, and his motivations for so doing despite the fact that the trading of shares in the Company is suspended."

Media & Investor Contact
Isaac Tang
WhatsApp (Text): +65 9748 0688
asti@wer1.net

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

Amplifidor Closes Pre-Seed Funding Round to Disrupt the Influencer Industry

Riyadh, Saudi Arabia, Apr 26, 2023 – (ACN Newswire) – Amplifidor, the forthcoming web and mobile platform that aims to transform the influencer industry by bridging the gap between creators, brands, and fans, has successfully closed on its pre-seed funding. The funding round was led by multiple institutional and value-add angel investors who recognized the potential of the platform's innovative approach to influencer marketing automation and network relations management.

Amplifidor resonate graphic – Amplifidor icon, logo, and branding pattern.

The Amplifidor platform has been designed as a space for open collaboration between influencers and their communities, along with brands and their stockholders. The platform's amplified discovery algorithms suggest collaboration candidates based on users' interests and shared values, making it easier than ever to find new opportunities, and join ongoing campaigns, which are called "missions".

Creators can manage their network, track their growth, and find new creators or brands to work with, while brands are able to search for the perfect creators or communities that fit their needs, track their influencer ROI, and manage their collaborations all in one place. Brands can also unleash their internal influence by discovering and engaging internal influencers and stakeholders, like employees, investors, advisors and others.

Mr. Adel Alsubeaei is also announced to be joining the board of directors, bringing extensive entrepreneurial & financial expertise, and ecosystem connections. Mr. Adel has more than 20 years of experience in the financial industry while serving on boards of directors at various institutions and other committees. Mr. Adel had this to say about the future of Amplifidor: "This investment will enable a truly industry-shaking platform to enter public beta, first in the MENA region and then throughout the world. Social marketing is very siloed at the moment – a platform that makes collaborative relationships more fluid is a very big deal."

Chief Vision Officer and founder of Amplifidor, Faisal Alqahtani, a recognized thought-leader on social influence, and the mastermind behind many influencer marketing industry innovations and standards, such as "The Fair Market Pricing Initiative", "The Social Influence Matrix" and the "Direct Influence Strategy Format", has led strategy and execution with multiplied ROI and cost savings for over 500 high-profile startups, brands, and government programs (G20, Riyadh Season, Hungerstation, etc). Faisal recognized that the concept of "influencers" was becoming less and less accessible, while the influence of the average social networker continued to grow. This led to his co-founding of the company alongside co-founder Waleed Alqahtani to enable a more inclusive and collective economy of influence.

Speaking on the close of the funding round, Faisal commented, "Our vision is to be the enabler of more meaningful and purposeful human connection, communication and collaboration, with more collective creation of wealth and culture. The world needs less individualistic and reactive social influencers and content creators, and more proactive impact amplifiers and inclusive community ambassadors – thus the name Amplifidor. We are at a moment in history between the no-more and not-yet, transitioning to a whole new reality – and we're well positioned to shape the future and the narrative of our industry and adjacent markets, leveraging the significant shift in social and business norms."

Co-founder Waleed Alqahtani is also excited about what this round of funding will mean for Amplifidor, stating: "This round will enable us to build the platform, the services and the ecosystem that will empower each social media user to grow their influence and become part of something bigger, and each organization to achieve sustainable growth with the support of their extended networks, regardless of their size, budget and objectives."

The founder also notes the impact that this round will have on continued team growth – stating, "We've got great leadership in place and a full plan to scale with a new round of partnerships and hiring starting today. We really want everyone to be part of the Amplifidor movement and ecosystem, with so many collaborations, partnerships and incubation programs to be announced soon, to co-shape and co-own the future of influence. We believe that everyone can positively influence and be influenced, given the empowering tools, opportunities and platform."

A private alpha test of the platform is already well underway, and excited users won't have to wait long to finally install Amplifidor on their iOS and Android devices – the web app and public beta are planned to launch early this summer. The company encourages anyone interested in staying updated on development progress and beta announcements to sign up at www.amplifidor.com

Media Kit: https://bit.ly/3lBxUPC

Contact Information
Chad Hagan
Marketing Manager
chad@amplifidor.com
609-970-8079

SOURCE: Amplifidor

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

Accrelist to acquire 51% stake in Aesteem clinics operator SJY Medical, pursue further network expansion across Singapore and the region

SINGAPORE, Apr 19, 2023 – (ACN Newswire) – Accrelist Ltd. has entered into a Sales and Purchase Agreement (the "SPA") with SJY Healthcare Pte. Ltd. to acquire a 51% equity interest in SJY Medical Pte. Ltd., which operates Aesteem medical aesthetic clinics, ("Target Company") (the "Proposed Acquisition") for a consideration of S$550,000.

Upon completion of the Proposed Acquisition, the Target Company will become a subsidiary of Accrelist, and its four existing medical aesthetic clinics located in Novena Medical Centre, NEX Serangoon, Jurong Point, and SingPost Centre will be rebranded under the Accrelist Medical Aesthetics ("A.M Aesthetics") brand. A.M Aesthetics will also retain the Target Company's experienced doctors to continue delivering medically proven treatment to its existing customer base for sustainable growth.

Accrelist's Executive Chairman and Managing Director, Dr Terence Tea, said, "We remain confident in A.M Aesthetics' long-term prospects amidst an ageing population with rising affluence and growing acceptance of minimally invasive procedures. Having established a leading position in the Singapore market, A.M Aesthetics will continue to seek growth opportunities across the region."

In addition to the Proposed Acquisition, two more A.M Aesthetics clinics in Northpoint City and VivoCity are set to open later this year. This is set to cement A.M Aesthetics' leading position in the market as one of the largest local clinic networks. Beyond Singapore, plans are also underway to set up A.M Aesthetics clinics in Bangkok, Thailand and Kuala Lumpur, Malaysia.

Beauty entrepreneur Dato Sri Marilyn Tay joins the A.M Aesthetics team as Group Business Development Director to support customer growth as A.M Aesthetics integrates the Target Company's four clinics and pursues further growth with more clinic openings in the pipeline. With prior experience in pageants, healthcare products and supplements, she has an extensive network across the health and beauty industry.

The Group also aims to broaden its revenue stream through its skincare products business, A.M Skincare Pte. Ltd. ("A.M Skincare"), the Group's wholly owned subsidiary, which complements the
Group's expanding clinic network.

This press release should be read in conjunction with the Company's announcement posted on SGX's website on 18 April 2023.

About Accrelist Ltd.

Accrelist Ltd. ("Accrelist") seeks to create long-term value for our shareholders and business partners by unlocking and adding value to the companies we invest in. The Group continues to actively pursue new opportunities with a growing focus on medical aesthetics.

The Group's wholly owned subsidiary corporations include the Accrelist Medical Aesthetics group of companies, branded as A.M Aesthetics, and A.M Skincare Pte. Ltd. ("A.M Skincare").

A.M Aesthetics operates a chain of registered medical aesthetics clinics in Singapore and Malaysia which use state-of-the-art equipment and clinically proven solutions to deliver a wide range of highly reliable and effective treatments.

A.M Aesthetics Clinic Locations

Singapore:
Bedok Mall #B1-12
Lot 1 Shoppers Mall #02-26
Clementi Mall #04-50
Raffles City Shopping Centre #B2-06/07
Clarke Quay Central #04-77-82

Toa Payoh Hub #B1-30
SingPost Centre #02-140/141
253 Serangoon Central Drive #01-193
Orchard Central #05-33/36

Malaysia:
88-N, Jalan Masjid Negeri, Taman Greenview, 11600 Jelutong, Penang

A.M Skincare is principally involved in the retail sale of pharmaceutical and medical goods. It develops and distributes its own original design manufacturer clinical skincare products ("ODM") with support from South Korean dermatologists alongside other non-ODM products.

In addition, Accrelist holds a 53.31% controlling stake in Jubilee Industries Holdings Ltd. ("Jubilee"), a one-stop service provider with two main business segments:

1. Mechanical Business Unit ("MBU") which is engaged primarily in precision plastic injection moulding and mould design and fabrication services; and
2. Electronics Business Unit ("EBU") which distributes integrated electronic components.

Headquartered in Singapore, Jubilee's production facilities span across Malaysia and Indonesia. Jubilee's products are sold to customers in Singapore, Malaysia, Indonesia, Vietnam, India, the People's Republic of China, the United States and various European countries. For more information, please visit www.accrelist.com.sg

Issued on behalf of Accrelist Limited
By Waterbrooks Consultants Pte. Ltd.

For media enquiries, please contact:
Wayne Koo
+65 9338 8166
wayne.koo@waterbrooks.com.sg

Elliot Siow
+65 8375 0417
elliot@waterbrooks.com.sg

This Press Release has been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST").

This Press Release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this Press Release including the correctness of any of the statements or opinions made or reports contained in this Press Release.

The contact person for the Sponsor is:
Name: Mr Mah How Soon, Registered Professional, RHT Capital Pte. Ltd.
Address: 36 Robinson Road, #10-06, City House, Singapore 068877s
sponsor@rhtgoc.com

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

Aquilius Investment Partners Closes Its Maiden Secondaries Fund at over US$400 Million

SINGAPORE, Apr 19, 2023 – (ACN Newswire) – Aquilius Investment Partners ("Aquilius" or the "Firm"), a Singapore based investment manager focused on secondaries in the Asia Pacific region, has announced the final closing of its maiden AIP Secondary Fund I, LP. ("AIP SF I"), at over US$400 million in client commitments. Alongside these commitments, the Firm has raised an additional US$200m of managed accounts available for co-investments from its investors. AIP SF I's limited partners include global institutional investors such as sovereign wealth funds, endowments, and family offices.

Christian Keiber, Founding Partner, said: "We have seen strong institutional demand for our dedicated Asia secondaries strategy and are grateful for the trust that our clients have placed in us with the closing of our maiden fund. As investment managers, we seek to provide our clients with a differentiated, lower-risk access to Asia's private markets and we are excited by the market opportunity, which continues to grow rapidly across both traditional LP secondaries and more complex GP-led secondaries transactions."

Through AIP SF I, Aquilius is targeting investments in traditional and non-traditional secondaries transactions across the fast-growing and largely untapped Asia Pacific region. To date, the fund has made existing investments across a comprehensive set of secondary solutions ranging from the acquisition of limited partnership interests to recapitalization of closed-ended funds and joint ventures, and seeks to capitalize on the liquidity needs across Asia's private markets landscape.

Bastian Wolff, Founding Partner, said: "We created Aquilius to provide custom-tailored liquidity solutions for both Limited and General Partners across their private market investments in the region. We are seeing an increasing need for our product, driven by a slow-down in overall exit activity, a significant tail of unrealized NAV across older fund vintages, and a changing regulatory environment. Our approach is focused on solving investors' headaches through flexible, patient, and solutions-oriented capital and our deep local experience and network position us well to do so."

ABOUT AQUILIUS INVESTMENT PARTNERS

Founded by Bastian Wolff and Christian Keiber, Aquilius is a specialized provider of secondaries solutions in the Asia Pacific region. Headquartered in Singapore, Aquilius' platform is designed to serve the entirety of the Asian secondaries market, with capabilities spanning across LP fund transfers, GP-led transactions, and secondary direct transactions. Aquilius' team consists of senior professionals with long tenures in investment management at leading global private markets organizations and have executed over US$2 billion of transactions through market cycles. www.aquilius.com

MEDIA CONTACT
PRecious Communications
Email: aquilius@preciouscomms.com
Tel: +65 6303 0567

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

GBA Business Confidence Index increment on record high

HONG KONG, Apr 17, 2023 – (ACN Newswire) – Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today released the GBA Business Confidence Index (GBAI) for the first quarter of 2023. The current performance for "business confidence" jumped 11.8 points to 51.3, which was also the first above-50 print since the fourth quarter of 2021. The expectations index leapt to 61.5, the 16.4 points jump was the biggest on record since GABI was launched in the second quarter of 2020. The better-than-expected GBAI reflected that companies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) had regained confidence as normal travel between Hong Kong and Mainland China fully resumed.

Mr Kelvin Lau, Senior Economist, Greater China, Standard Chartered, and Ms Irina Fan, Director of Research, HKTDC, announced the latest "GBA Business Confidence Index" (GBAI) at a press conference today (17 April).

Sub-indices surge across board

Both the current performance and expectations sub-indices for business activity of all industries rose. Financial Services (59.8) and Innovation and Technology (54.3) topped current performance index; while Professional Services (65.2, up 19.1 points), Manufacturing and Trading (61.3, up 17 points) and Financial Services (67.4, up 16.9 points) showed the strongest improvements in expectations index.

Dongguan, Guangzhou and Shenzhen lead bulls

The current performance and expectations sub-indices rebounded for business activity in all GBA cities; Foshan (55.1), Dongguan (53.5) and Hong Kong (51.6) performed better for the time being, while the strongest growth in expectation index was registered in Dongguan (69.6, up 32.5 points), Guangzhou (67.7, up 24.6 points) and Shenzhen (60.8, up 13.7 points).

Sustained recovery expected

"As Mainland swiftly acquired herd immunity after the reopening early this year, economic activities have resumed speedily. This was reflected in the 'business confidence' level of companies operating in GBA rebounding significantly in the first quarter this year," said Mr Kelvin Lau, Senior Economist, Greater China, Standard Chartered.

"With the support of government policies and boundary reopening, we see little reason to doubt the sustainability of the post-COVID recovery for now. As many GBA companies are still operating below pre-COVID levels, there appears plenty of room still for GBA businesses to play catch-up and return to trend," he added.

Hong Kong sub-indices hit peak

Ms Irina Fan, Director of Research at the HKTDC, said: "The increase in current performance index was prompted by the sharp rise in new orders. It is also worth noting that the profit index (52.5) returns to expansionary territory, showing business improvement for those interviewed."

"In addition, the two sub-indices for Hong Kong hit the highest level since GBAI was launched in the second quarter of 2020, reflecting that local companies are turning optimistic for the city's outlook."

Industrial production, services and fixed-asset investment growth all reaccelerated in the first two months of this year, she added. "The recent string of encouraging macro data explained the positive sentiments, confirming that China's economy has turned the corner post-COVID."

Back to normal by 2024

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.

Close to two-thirds (65%) of the interviewees said relaxation of mainland pandemic measures would positively impact their business for the rest of this year. More than half (53%) of the respondents said they had raised the business targets since the resumption of normal travel earlier this year. About 60% of them expected business – in terms of workforce, capacity utilisation, orders and sales – back to or exceeding the pre-COVID level in the fourth quarter.

Improved consumption on the mainland is expected but respondents remain concerned about rising raw-material costs, geopolitical tensions and intensifying competition within the industry. They hope expanding domestic demand, new GBA-specific policies, more attractions for foreign investments and more supports to the private sector will further improve the business operating environment.

Related materials
– Standard Chartered GBA Business Confidence Index Report: https://bit.ly/3A3GmKZ
– HKTDC Research: https://research.hktdc.com
– Photos download: https://bit.ly/3mynG2Y

About Standard Chartered

We are a leading international banking group, with a presence in 59 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

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

The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR's three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC. For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

About HKTDC

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

Media enquiries

Corporate Affairs Department
Standard Chartered Bank (Hong Kong) Limited
Sharon Cheung
Tel: +852 3843 0144
Email: sharonps.cheung@sc.com

Communications & Public Affairs Dept
Hong Kong Trade Development Council
Beatrice Lam
Tel: +852 2584 4049
Email: beatrice.hy.lam@hktdc.org

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

Society Pass Inc. (Nasdaq: SOPA)’s Travel Platform, NusaTrip, Acquires Vietnam’s VLeisure, Marks its First Acquisition Outside of Indonesia

JAKARTA, Apr 13, 2023 – (ACN Newswire) – NusaTrip ("NusaTrip"), a leading Jakarta-based, IATA-licensed Online Travel Agency ("OTA") and the travel vertical of Society Pass Inc (Nasdaq: SOPA), Southeast Asia's (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces the acquisition of VLeisure, a Ho Chi Minh City, Vietnam-based online B2B hotel platform servicing small-to-medium size hotels in Vietnam and empowering online and offline travel agencies to manage and distribute travel products and services. The VLeisure acquisition extends NusaTrip's base of operations and geographical reach outside of Indonesia for the first time. Going forward, NusaTrip will continue to acquire online and offline travel agencies in SEA as it builds a regional travel platform servicing the booming SEA travel market.

The VLeisure acquisition comes at an opportune time for NusaTrip with the dramatic rebound in the SEA travel market from the depths of the Covid pandemic. The marked increase in demand is driven by strong government initiatives to boost tourism, the rise of SEA's burgeoning middle class and strong internet penetration, which enables more Southeast Asians to more easily book flights and hotels through OTAs. According to Web In Travel, gross bookings in 2025 will reach 94% of the record 2019 levels. And according to the Vietnam National Administration of Tourism, the tourism sector expects to welcome 110 million tourist arrivals in 2023, valued at US$27 billion, representing 5.7% of Vietnam's projected 2023 GDP of US$469 billion.

Leveraging on SoPa's capital and NusaTrip's technology, VLeisure will market its hotel management SaaS products to small-to-medium size hotels initially in Vietnam and then to the rest of SEA. In addition, NusaTrip now acquires an operational foothold to significantly expand its B2C and B2B businesses in Vietnam. Phan Le, VLeisure Founder and Managing Director, comments, "I am honoured to join the SoPa ecosystem and Nusatrip. With SoPa's rapid growth in 2021 and 2022 and NusaTrip's position as a leading IATA-licensed travel platform in Indonesia, VLeisure now is able to access our parent companies' infrastructure of capital, technology, marketing, and customer support, allowing VLeisure to better serve our Vietnam-based customers and accelerate growth in our hotel business. VLeisure's trip planning, booking capabilities, hotel technology expertise complements Nusatrip's existing travel services to deliver a more personalised user experience. Furthermore, as a Vietnamese, I am proud to join the first Vietnam-based company to be listed on Nasdaq. SoPa's Nasdaq IPO in November 2021 is truly an historical event for Vietnam's economy and an inspiration for all Vietnamese entrepreneurs."

Founded in 2011 as a Ho Chi Minh City, Vietnam-based online marketplace for hotels, airlines, and travel agencies, VLeisure empowers Vietnamese, regional and international OTAs by distributing their travel products. Travel agents access to VLeisure's extensive inventory of over 650,000 registered hotels. It is also a hotel technology platform servicing small-to-medium size hotels with customer booking and revenue collection software solutions.

Dennis Nguyen, Society Pass Founder, Chairman and Chief Executive Officer and NusaTrip Chairman, expounds, "We happily welcome VLeisure into our ever-expanding NusaTrip ecosystem. VLeisure seamlessly blends into our user and merchant growth strategy. We combine NusaTrip's robust flight B2B technology and B2C operational breadth with VLeisure extensive hotel management software solutions. With Phan's significant experience and knowledge of the Vietnamese travel sector, I appoint him as the Managing Director of Nusatrip Vietnam. As Head of our Hotel Business, his expertise in hotel technology allows him to create unique travel goods and services that meet the demands of Vietnamese travellers."

Mr. Nguyen further explains, "As a Vietnamese, I am especially proud to continue to finance and support Vietnam's start-up sector with this VLeisure acquisition. I believe that our Vietnamese entrepreneurs will continue to be an example for the rest of SEA. We look no further than the example of Phan Le."

About VLeisure

Founded in 2011 as a Ho Chi Minh City, Vietnam-based online marketplace for hotels, airlines, and travel agencies, VLeisure is a hotel technology platform servicing small-to-medium size hotels with customer booking and revenue collection software solutions. In addition, travel agents access to the company's extensive inventory of over 650,000 registered hotels. VLeisure is now an integral member of NusaTrip. For more information, please visit: https://www.vleisure.com.

About NusaTrip

Founded in 2013, NusaTrip is a Jakarta, Indonesia-based, IATA-licensed online travel agency that serves both local and global customers and partners by optimizing cutting-edge technology and providing 24/7 customer-centric support team-as-a-service. With its first mover advantage, NusaTrip has onboarded +1.2 million registered users, +500 airlines and +200,000 hotels around the world as well as connected with over 80 million unique visitors. NusaTrip is now an integral member of Society Pass (Nasdaq: SoPa) ecosystem. For more information, please visit: https://www.nusatrip.com.

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, a Vietnam-based hotel technology platform; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
Rosa Milyarna – NusaTrip
rosa@nusatrip.com

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

Mitrade Launches Mitrade Academy: A Fun and Engaging Way to Learn Trading

MELBOURNE, AUSTRALIA, Apr 5, 2023 – (ACN Newswire) – Mitrade, the leading online CFD trading platform, has announced the launch of Mitrade Academy. Mitrade Academy is designed to cater to traders of all levels, providing them step-by-step guidance in their respective learning journeys. Users are able to access a wide range of interactive courses, tutorials, and resources that cover all aspects of trading. The academy can be accessed via web and mobile browser.

Mitrade Academy is accessible via both mobile and web browsers, providing a convenient and flexible way to learn trading anytime, anywhere. — *Mitrade Academy is accessible via both mobile and web browsers, providing a convenient and*
*flexible way to learn trading anytime, anywhere.*

Mitrade Academy’s key feature offers the ability to save progress and resume anytime anywhere. This feature enables learners to continue their studies from where they left off, regardless of the location or the device they are using. On top of that, users are able to use one account to transition seamlessly between education to application. Enabling them to reinforce their learning by putting theory into practice immediately.

The development of Mitrade Academy is led by a team of trading experts, with their experience and dedication to helping traders succeed in the markets, the team is committed to achieving Mitrade’s goal of offering a simplified trading experience through the academy. You can start learning about trading here.

A sneakpeak of Mitrade Academy's platform — *A sneakpeak of Mitrade Academy’s platform*

Wide range of trading courses available

Mitrade Academy offers an extensive range of courses that cover various aspects of trading, including technical analysis, risk management, and trading psychology for all levels. The courses are interactive and feature practical examples and case studies to help traders apply what they have learned to real-world trading scenarios. Mitrade Academy plans to release new courses every month, providing traders with a consistent stream of fresh learning materials.

Learn at your own pace

Mitrade Academy recognizes the difficulty of finding the time to finish an online course. That’s why the platform is designed for utmost accessibility and allows users to save their course progress and pick up where they left off at any time, anywhere. Individuals can conveniently revisit course materials, making it the ideal solution for those with limited free time.

How To Start Learning With Mitrade

Create an account with Mitrade by clicking here.
Head over to Learn > Academy
Hit “Start Learning” and view the wide range of trading courses that Mitrade offers.

About Mitrade

Mitrade offers access to a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies. The platform is user-friendly, intuitive, and features advanced trading tools and features that cater to the needs of traders of all levels. Mitrade is committed to providing its users with a secure and reliable trading environment and offers 24/5 customer support to assist with any queries or issues.

To start learning with Mitrade Academy and experience the fun and engaging way to trade, please visit Mitrade Academy.

Social Links
Facebook: https://www.facebook.com/MitradeOfficial
Twitter: https://twitter.com/MitradeOfficial
LinkedIn: https://www.linkedin.com/company/mitradecom/
Instagram: https://www.instagram.com/mitrade_official/
YouTube: https://www.youtube.com/c/Mitradeglobal/

Media Contact
Brand: Mitrade
Contact: Media team
E-mail: branding@mitrade.com
Website: https://www.mitrade.com/

SOURCE: Mitrade