Tag: Local Biz

Samaiden Shareholders Pass All Resolutions at AGM

PETALING JAYA, Malaysia, Dec 9, 2022 – (ACN Newswire) – Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants, reported that shareholders have passed all resolutions at the 3rd AGM held today.
Group Managing Director of Samaiden, Ir. Chow Pui Hee


Among the resolutions passed were the re-election of Lim Poh Seong and Fong Yeng Foon as directors pursuant to the Constitution of the Company as well as the re-appointment of TGS TW PLT as auditors of the Company. Shareholders also passed the resolution empowering the board of directors to issue and allot up to 10% of the total number of issued shares of the Company for the time being pursuant to Sections 75 and 76 of the Companies Act 2016.

Group Managing Director of Samaiden, Ir. Chow Pui Hee said, "This is the first ever AGM we are holding physically ever since Samaiden was listed in October 2020 on the ACE Market. We are glad to meet our shareholders and would like to thank them for their trust and confidence in us as we endeavoured to steer the business safely through the COVID-19 pandemic. While financial year ended 30 June 2022 (FY2022) has not been without its challenges, we note the increasing adoption of RE as businesses and organisations come to terms with climate change and also volatile fossil fuel costs."

"Over the mid-to-long term, we see greater clarity for RE given the rollout of the National Energy Policy 2022-2040 in September 2022 outlining the key priorities for Malaysia's socioeconomic development. Given that sustainability practices are increasingly being used to benchmark businesses, easy access and the ready availability of RE is crucial for growth as it also covers other indices used to gauge green attributes such as carbon credits, carbon emissions and RE certificates."

"We view positively the more stable political climate in Malaysia as this will boost investor sentiment and funding for more RE infrastructure. Samaiden continues to seek opportunities to offer our EPCC services for the installation of solar PV systems as well as solar and non-solar power plants by leveraging on our core competency and experience in providing end-to-end services for potential solar PV and other non-solar projects."

Samaiden has an outstanding orderbook of RM325.40 million as at 30 September 2022 with earnings visibility over the next three years.

Samaiden Group Berhad: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Propel Global to Acquire 51% Stake in O&G Engineering Firm for RM7.82 Million

KUALA LUMPUR, Dec 8, 2022 – (ACN Newswire) – Propel Global Berhad (Bursa: MAIN, PGB, 0091), provider of oil and gas supporting services such as well services , engineering, procurement, construction and commissioning (EPCC) services, maintenance of heating, ventilation and air-conditioning (HVAC) systems as well as downstream specialty chemicals to the oil and gas (O&G) industry, today announced that the Company has entered into a conditional share sale agreement to buy a 51% stake in Best Wide Engineering (M) Sdn. Bhd. (BWE) for RM7.82 million.
Ms. Angeline Lee, Group Chief Executive Officer of Propel Global


BWE provides engineering and technical works for the O&G industry through engineering, procurement, construction and commissioning (EPCC) of new plants and plant modification works; design and supply of skidded process systems and engineered equipment for onshore plants and offshore platforms and; project management and engineering consultancy services. Its shareholders and directors are Azizi bin Alias (Azizi) with 45.8% equity interest, Jasniazrin Shah Bin Mohd Hata (Jasniazrin) with 44.2% equity interest and Tan Siew Lee (Siew Lee) with 10.0% equity interest.

Propel Global is acquiring the 51% stake from Azizi, who is selling his entire equity interest, and Siew Lee, who is selling 5.2% of his holdings. As part of the share sale agreement, Propel Global has also entered into a put and call option agreement with Jasniazrin and Siew Lee that requires the Company to purchase up to 49.0% of the remaining equity interest in BWE from them and, Jasniazrin and Siew Lee will grant Propel Global the right during the call option period that requires them to sell up to 34.0% equity interest in BWE to the Company.

BWE, which has 15 ongoing contracts with total unbilled contract value of RM21.8 million expected to be realised over the next three years, is guaranteeing a profit of RM2.4 million and RM2.6 million in profit after tax (PAT) for the financial year ended 30 November (FYE) 2022 and FYE 2023 respectively. BWE reported revenue of RM18.6 million and PAT of RM178,000 for FYE2019; RM19.0 million revenue and RM395,000 PAT for FYE2020 and; RM38.5 million revenue and RM2.3 million PAT for FYE2021. Currently, BWE has a tender book of RM41.3 million.

Ms. Angeline Lee, Group Chief Executive Officer of Propel Global said, "The acquisition is in line with the Group's strategy to grow the O&G business through expanding our offerings and enhancing market presence as an O&G engineering services provider. BWE's expertise and experience in EPCC works complements the Group's existing O&G business."

"We believe that combining the core competencies of BWE with the Group would enable the latter to bundle a wider range of service offerings to its customers and provide it with a competitive edge over competitors. The Group will also be able to tap into BWE's existing customer base for cross-marketing opportunities and additional revenue stream."

Propel Global Berhad: 0091 [BURSA: PGB], https://www.propelglobal.com.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SCIB Concludes 46th AGM Successfully

KUCHING, MALAYSIA, Dec 8, 2022 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) held the Company's 46th AGM virtually today in which shareholders voted to reappoint NEXIA SSY PLT as the auditor and authorised the directors to fix its remuneration.
Group MD and CEO of SCIB, Encik Rosland bin Othman


Shareholders also passed a resolution authorising the issuance and allotment of shares pursuant to Sections 75 and 76 of the Companies Act 2016 while waiving their pre-emptive rights.

The resolutions to re-elect Dato' Dr. Ir. Ts. Mohd Abdul Karim bin Abdullah and Datu Haji Abdul Hadi bin Datuk Abdul Kadir to the board of directors were not tabled as they retired effective 8 December 2022. Other resolutions passed included the reappointments of eligible directors up for re-election.

Group Managing Director of SCIB, Encik Rosland bin Othman, said, "We are happy to engage with our shareholders virtually in the AGM today and answer their questions. On behalf of SCIB, I would like to thank them for having placed their trust and confidence in us at what has been a challenging period. We would also like to thank both Dato' Dr. Ir. Ts. Mohd Abdul Karim and Datu Haji Abdul Hadi for their years of leadership and dedication to SCIB."

"I can confidently say that the Company is looking forward to 2023 following the measures we have adopted focusing on our strengths and ensuring our resilience in the face of changes in the construction industry."

Among the measures the Company took is a kitchen-sinking exercise pertaining to the recent cancellation of four projects as well as the settlement agreement over six projects in Qatar and Oman. These measures were taken to safeguard the Company's interests. In respect of the cancellation of the five projects, the decision was taken after reviewing and updating the Company's order book records to reflect the current situation while, in respect of the projects in Qatar and Oman, there is no financial impact to the trade receivables.

"In regards to the outlook, as East Malaysia's leading precast concrete and Industrialised Building System (IBS) manufacturer, we expect Sarawak Economic Development Corp's successful tender of the RM448 million System Package Two contract for the Kuching Urban Transportation System project phase one to have positive impact for the state economy while the announcement of the RM50 billion MRT3 project will spur demand for civil engineering services and building materials as well as give a much needed boost to the nation's construction sector."

"We intend to leverage on our strengths as a leading precast concrete and IBS manufacturer to seek opportunities for our engineering, procurement, construction and commissioning (EPCC) business where we specialise in small-to-mid-sized projects for water, electricity, roads, health and education infrastructure. SCIB's geographical scope expanded to Peninsular Malaysia in recent years and we are also seeking EPCC opportunities in neighbouring Kalimantan in which our manufacturing business can play a pivotal role. To ensure business sustainability, we have also adopted technology such as 3D printing for construction as we transform to meet the challenges of the present and the future."

As of 30 November 2022, SCIB has an order book of RM564.7 million with earnings visibility until 2026.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

GHY and Curtin University Sign MOU to Jointly Shape the Next Generation of Media & Film Talents in the Region

Singapore, Dec 8, 2022 – (ACN Newswire) – G.H.Y Culture & Media Holding Co., Limited ("GHY", and together with its subsidiaries and its PRC Affiliated Entities, the "Group"), a leading diversified group in Asia's media and entertainment industry, is pleased to announce that G.H.Y Culture & Media (Singapore) Pte. Ltd., a subsidiary of GHY, has signed a non-binding memorandum of understanding ("MOU") with a world-renowned education establishment, Curtin University, for an academic collaboration in higher education programs in Asia related to media and film studies.

Under the MOU, both parties have agreed to (i) discuss opportunities for education-industry collaboration and work- integrated learning programs, (ii) explore development of a global major and cross-campus industry-integrated learning programs, (iii) exchange information relating to activities in fields of mutual interest and (iv) provide the students of Curtin with mobility opportunities.

Curtin University is an innovative, global university known for its high-impact research, strong industry partnerships and commitment to preparing students for jobs of the future. Curtin University is one of the top universities worldwide and it has campuses in Western Australia, Singapore, Malaysia, Dubai and Mauritius.

Since its establishment, GHY has placed a strong emphasis on identifying, nurturing and promoting talent in the media and film industry across Southeast Asia. While providing access and valuable exposure of its end-to-end production capabilities, GHY has also initiated various tie-ups with industry leaders and education institutions to provide more opportunities for aspiring talents to directly learn from industry professionals and gain practical experience in this niche industry.

In addition, the Group has been expanding its portfolio of entertainment content and products, with diversification into new growth adjacencies such as musicals and its first-ever immersive live action game based on GHY's "Strange Tales of Tang Dynasty" drama series.

Supported by a robust balance sheet with a net working capital of approximately S$130.1 million as at 30 June 2022, the Group is well-positioned to capture organic and inorganic growth initiatives, to capture the recovery and to bring sustainable long-term returns to shareholders.

Mr. Guo Jingyu, Executive Chairman and Group CEO, said, "New media consumers in Asia are dominated by younger demographics and the method of their media consumption is shifting from the big screen to their mobile phones with various forms of personalisation.

To better prepare and equip students for the future trends in the media and film industry, both GHY and Curtin University share a common vision to provide a structured higher-learning platform so as to develop Asia's talent pool and technology in the media and film industry to become one of the best in the world.

With GHY's strong in-house production capabilities and established industry network, there will be more opportunities for industry exchanges and on-the-job training programs for students under this academic collaboration.

For GHY, this is part of our initiatives to have an increasingly regional relationship and impact, strengthening our linkages with Asia through education and technology that are interconnected with our diversified business model within Asia's media and entertainment industry."

Professor Richard Blythe, Pro Vice-Chancellor, Faculty of Humanities, Curtin University, said, "The MOU would offer new opportunities for students to gain invaluable real-world experience. This exciting new industry-education collaboration will bring together Curtin's long-standing and successful screen arts expertise with GHY's strong in- house production skills and clear industry connections."

Professor Blythe added, "We are delighted to be working with GHY Culture and Media to help develop and foster the next generation of media and film industry stars across Asia."

About G.H.Y Culture & Media Holding Co. Ltd. (SGX: XJB; Bloomberg: GHY:SP)

Listed on the Mainboard of the Singapore Exchange, G.H.Y Culture & Media Holding Co., Limited ("GHY" or the "Group") is a leading diversified group within Asia's media and entertainment industry. GHY has produced several dramas and films in the People's Republic of China ("PRC"), Singapore and Malaysia that have been broadcasted and/or distributed on major TV networks and leading video streaming platforms in the PRC. The Group has also undertaken the production of concerts for well-known international artistes in Singapore, with upcoming concerts to be held in Singapore, Malaysia and Australia.

GHY has strong in-house production teams, with scriptwriters, directors and producers who have been involved in various notable dramas and films. The production teams have consistently produced quality dramas and films and the Group also possesses expertise and capabilities across the business value chain.

Currently headquartered in Singapore and the PRC with over 170 employees, the Group also engages in concert production, talent management services, and costumes, props and make-up services.

For more information, please visit https://ghyculturemedia.com/

About Curtin University

Curtin University is Western Australia's largest university, with close to 60,000 students. In addition to the University's main campus in Perth, Curtin also has a major regional campus in Kalgoorlie, and a campus in Midland, as well as four global campuses in Malaysia, Singapore, Dubai and Mauritius. Curtin staff and students come from Australia and over 120 other countries around the world, with half its international students studying at Curtin's offshore campuses.

Curtin is ranked between 9th to 18th in Australia according to the Academic Ranking of World Universities (ARWU) 2022 and has achieved a QS Five Stars Plus rating, the highest available for a tertiary institution, and one of only eight to do so in Australia.

The University has built a reputation around innovation and an entrepreneurial spirit, being at the forefront of many high-profile research projects in astronomy, biosciences, economics, mining and information technology. It is also recognised globally for its strong connections with the industry, and for its commitment to preparing students for the jobs of the future.

For further information, visit curtin.edu.au.

This press release should be read in conjunction with the announcement uploaded on SGXNet on 8 December 2022.

DBS Bank Ltd. and UOB Kay Hian Private Limited are the joint issue managers and global coordinators (the "Joint Issue Managers and Global Coordinators") for the initial public offering of shares in, and listing of, G.H.Y Culture & Media Holding Co., Limited on the Main Board of the Singapore Exchange Securities Trading Limited. The Joint Issue Managers and Global Coordinators assume no responsibility for the contents of this announcement.


For media and analysts' queries, please contact: 8PR ASIA Pte Ltd
Alex Tan
T: +65 9451 5252
E: alex.tan@8prasia.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Deloitte Hong Kong celebrates 50th anniversary and commits to empower 10,000 local secondary school students in the next five years

HONG KONG, CHINA, Dec 7, 2022 – (ACN Newswire) – This year marks the 25th anniversary of Hong Kong's return to the motherland and Deloitte's 50th anniversary in Hong Kong. To celebrate this landmark, Deloitte today announces the launch of a new talent development initiative – INspire HK: Future Ready Talent – with a commitment to empower 10,000 Hong Kong secondary school students in the next five years to become future-ready talent with strong national connectivity and a global vision.


Mr. Patrick Tsang, Deloitte China CEO (Left); Mr. Edward Au, Deloitte China Southern Region Managing Partner (Right)

Mr. Patrick Tsang, Deloitte China CEO


Through a diversified, one-of-a-kind learning experience, INspire HK: Future Ready Talent focuses on boosting local young talent's 'future skills' by enhancing their knowledge of advanced technology and innovation capabilities, equipping them with a global mindset to promote national development.

With the arrival of the digital economy, many countries have in recent years introduced strategies to compete for talent to build an innovative economy. Amid a shortage of talent, the HKSAR Government rolled out a series of aggressive measures in the recent Policy Address to attract high-caliber global talent to Hong Kong, with a view to furthering the development of the 'eight centers' and integration into the national economy, while injecting new impetus into local economic growth and diversification.

Deloitte China CEO Patrick Tsang says, "As a locally-rooted and globally connected integrated professional services organization, Deloitte China has been steadfast in fulfilling our corporate social responsibility to support China's strategy on developing a quality workforce in the new era for robust and sustainable growth."

"Hong Kong is where we laid the foundation for our success today, and we continue to be committed to contributing our strengths to develop the next generation of local talent, and support Hong Kong's future growth and prosperity. In addition to our participation in the HKSAR Government's Strive and Rise Programme(1), with our strong local and global networks, deep market insights, and advanced digital capabilities, INspire HK: Future Ready Talent can become an impactful platform to nurture future-ready young talent for Hong Kong."

An integral part of Deloitte's INspire HK strategy(2), INspire HK: Future Ready Talent supports the development of secondary four to six students through a series of diversified training and learning activities, aiming to help them enhance their international perspectives, understand emerging technologies and business trends, and broaden exposure to work environments across geographies.

Combining theory and practice, the program will offer interactive online and offline learning courses, job shadowing, visits to Deloitte offices in China, as well as Deloitte University in Beijing and its sister institutions around the world.

Besides providing traditional business and financial knowledge, the program will be structured around Hong Kong's 'eight centers' positioning, covering the 'ABCDEF' concepts (AI, blockchain, cloud, data analytics, ESG, fintech, etc) to help students become 'future-ready' talent by strengthening key 'future skills' in sustainable development, innovative technology, and digital.

The program will also help students gain insights into the development and prospects of various markets, while encouraging them to expand their horizons and cultivate creative, multi-perspective thinking to create more future opportunities.

Tsang says, "Established on the concept of 'National Connection. Global Vision. INspiring youth to shape a better future', INspire HK: Future Ready Talent not only demonstrates our commitment to talent development, but also reflects our confidence in Hong Kong and aspiration to create a brighter future for a city that we are proud to call our home for 50 years."

Note:
(1). 'Strive and Rise': Deloitte Foundation Hong Kong uplifts youth for brighter futures | Deloitte China | Newsroom (Deloitte.com)
(2). Deloitte announces HKD1 billion strategic investment in Hong Kong | Deloitte China | Newsroom (Deloitte.com)

About Deloitte China

Deloitte China provides integrated professional services, with our long-term commitment to be a leading contributor to China's reform, opening-up and economic development. We are a globally connected and deeply locally-rooted firm, owned by its partners in China. With over 20,000 professionals across 30 Chinese cities, we provide our clients with a one-stop shop offering world-leading audit & assurance, consulting, financial advisory, risk advisory, business advisory and tax services.

We serve with integrity, uphold quality and strive to innovate. With our professional excellence, insight across industries, and intelligent technology solutions, we help clients and partners from many sectors seize opportunities, tackle challenges and attain world-class, high-quality development goals.

The Deloitte brand originated in 1845, and its name in Chinese denotes integrity, diligence and excellence. Deloitte's professional network of member firms now spans more than 150 countries and territories. Through our mission to make an impact that matters, we help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients.

Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which are separate and independent legal entities, provide services from more than 100 cities across the region.

Please see www.deloitte.com/about to learn more.

Disclaimer

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms or their related entities (collectively, the "Deloitte organization") is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.

2022. For more information, please contact Deloitte China.

Contact: Ashley Leung
Tel: +852 2109 5261
Email: asleung@deloitte.com.hk

Contact: Lyanna Chan
Tel: +852 2238 7111
Email: lyachan@deloitte.com.hk


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

NUNMN and Nulab Technology LTD. Supplements Opening Their Online Store to the Hong Kong Market

HONG KONG, Dec 7, 2022 – (ACN Newswire) – NUNMN, part of Nulab Technology Ltd., is a rapidly-expanding company in Canada that offers 99.5% pure NMN supplements and they are now available in the Hong Kong market. Previously only sold throughout Canada and the US, Nulab Technology LTD has decided to expand its sales and provide NMN supplements to customers in Hong Kong, as an entry point to the Asian market.


During a recent interview, Nulab Technology LTD president Alan M. had this to say: ''Each year, the supplement receives a high volume of new users from all corners of the world. We have had inquiries from Asia, Africa, Europe and South America, Oceania & North America. All our products are authorized by Health Canada as they improve health performance and meet consumer demands. Hong Kong is just part of the second phase of our global expansion plan!"

According to Alan M., NUNMN and Nulab Technology LTD's recent expansion is only the start. They have already initiated market research to gain a foothold in the European and South American markets as well.

Nulab Technology LTD's president said that originally starting in Canada as a health supplement supplier, they have now reached customers all over the world with their global network and website.

Now that they have consistent customers in Canada and that the US market is growing, they have brought the business to a point where expanding makes even more sense. After months of research, testing, and preparation, they are officially opening their online store to the Hong Kong market.

About NUNMN & Nulab Technology LTD

NUNMN is a leading beauty and wellness company with offices in Canada, the US, and soon in Hong Kong. They are committed to redefining wellness and chronological age in terms of biological age.

David Sinclair, Professor of Genetics at Harvard Medical School, discovered that NMN (99.5%) can be widely consumed to improve health and metabolism, and brain function as well as cardiovascular improvement.

The nicotinamide mononucleotide (NMN) molecule is converted into the vital and well-known chemical compound nicotinamide adenine dinucleotide (NAD+). The human body uses NAD+ to fuel a plethora of processes, including DNA damage repair, energy production, and boosting immunity. Therefore, it aids in maintaining high metabolism and keeping overall bodily functions healthy.

Media Contact:
Alan M.
Email: hello@nunmn.com
Website: https://nunmn.com/zh/
Phone: 1(888) 666-6851

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Investigation and analysis of the three major challenges and advantages of developing business in the GBA

HONG KONG, Dec 6, 2022 – (ACN Newswire) – The Hong Kong Export Credit Insurance Corporation (HKECIC) and the Hong Kong Trade Development Council (HKTDC) have, for the first time, jointly released a survey study (Hong Kong – the Business Platform to Capitalise on Greater Bay Area Opportunities in the Post-pandemic Era).


Dr Patrick Lau, Deputy Executive Director, HKTDC (L) and Terence Chiu, Commissioner, HKECIC (R)

Irina Fan, Director of Research, HKTDC


The report found that Hong Kong companies are facing three major challenges: low-price competition, unfamiliarity with the Mainland legal/regulatory regimes, and financing and customer credit risks. However, opportunities coexist alongside the challenges. The companies surveyed expressed that Hong Kong enterprises have considerable unique advantages in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) market, including Hong Kong's brand reputation and capacity to bring in high-quality foreign products. As such, Hong Kong companies are advised to make good use of their advantages and use the GBA as a springboard to further develop the huge domestic sales market in the Mainland, while diversifying the risks of relying on the international market.

Terence Chiu, Commissioner, HKECIC, said: "The HKECIC and the HKTDC have jointly conducted a research study for the first time as many parts of the world, including Hong Kong and the Mainland, see economic and trade activities gradually restarting. Given the uncertainty in overseas markets such as Europe and the United States, the domestic market in the Mainland can provide another option for Hong Kong companies, with the GBA being the ideal springboard. The HKECIC has always attached great importance to the Mainland market and began to underwrite buyers decades ago, and indeed the Mainland is now our biggest insured market after the United States. Riding on the development of the GBA, we will continue to support Hong Kong companies to seize the opportunities offered through the dual circulation strategy that can help them develop their business in the Mainland market."

Dr Patrick Lau, Deputy Executive Director, HKTDC, said: "With a GDP of about US$1.96 trillion and GDP per capita of over US$22,500, the Guangdong-Hong Kong-Macao (GBA) is clearly a bright spot for business growth amid challenging market conditions affected by the COVID-19 pandemic, geopolitical issues, interest rate hikes and inflation. The HKTDC has been strongly advocating the GBA, and our GoGBA digital platform has reached a viewership of more than 590,000 since its launch over a year ago, which demonstrates the business community's keen interest in the GBA opportunity. The HKTDC is very pleased to work with the HKECIC to conduct this research to further understand the pain points and needs of Hong Kong companies in developing the GBA market, and to collect opinions from and brainstorm with industry experts so as to make the GBA opportunity accessible by more Hong Kong companies."

In the third quarter of 2022, the HKTDC conducted a questionnaire survey on the "Greater Bay Area Domestic Market Development Strategy", surveying 413 Hong Kong companies that have either started developing domestic sales in the GBA or are planning to do so. Over 95% of the surveyed companies said they are facing various challenges, particularly those related to the pandemic such as disruptions in supply chain and production/sourcing activities as well as stringent border control measures. Besides, declining orders from overseas markets and spiralling costs have also dented business development.

Almost 70% of the respondents have sold directly to the Mainland buyers. Based on the weighted average amount, sales to the Mainland buyers account for 37.5% of the overall average annual sales of the respondents. Among them, over 90% have sold to Guangdong Province/the nine the Mainland GBA cities.

Shenzhen, Guangzhou and Dongguan are top three GBA cities in which Hong Kong companies have most interest

The Mainland GBA cities in which the companies surveyed are most interested in expanding into include Shenzhen (73.8%), Guangzhou (68.8%) and Dongguan (43.6%). Hong Kong companies mainly plan to sell products manufactured or sourced by them in the the Mainland as well as goods purchased from abroad to the GBA.

For sales channels, most of them sell to the Mainland importers/wholesalers (48.2%) and other business-to-business (B2B) channels. Almost 40% also sell directly to the Mainland consumers through websites or third-party platforms. Less than 14% of the surveyed enterprises have so far embarked on using e-commerce and internet applications to directly develop the GBA market. However, 65.1% would consider using these e-commerce applications to explore the Mainland market directly in the future.

Unfamiliarity with operation of the Mainland domestic market is biggest pain point for Hong Kong companies

Many survey respondents said they encounter various difficulties in expanding sales in the GBA, such as the Mainland market being flooded with cheap products (36.8%) and an unfamiliarity with the Mainland laws and regulations/product standards (35.8%). Some Hong Kong companies also mentioned issues relating to financing and customer credit (25.9%), including the lack of information on the credit background of the Mainland clients, capital shortage (23.5%), and the high risks of sales on credit (22.0%).

In addition, most Hong Kong companies would demand the buyer to make an advance payment (57.9%) or they would choose to bear the risks themselves (43.6%) in managing accounts receivable in the Mainland domestic sales. There are also a number of Hong Kong companies which buy credit insurance (14.0%) either directly in Hong Kong or through banks in Hong Kong.

To deal with the challenges involved, the companies surveyed said they need various support services, including promotion activities targeting the Mainland markets to identify buyers (33.2%) and marketing strategies for the GBA/Guangdong Province (31.5%). They also need support for a variety of financing and risk management services.

Hong Kong enterprises have unique advantages

In addition to the questionnaire survey, the HKTDC also conducted in-depth interviews with nine selected Hong Kong companies and industry representatives to better understand the views of the trade on how to bolster sales in the GBA.

Irina Fan, Director of HKTDC Research, said: "Hong Kong companies should make more use of innovative technologies to map out e-commerce solutions and build integrated online/offline sales channels in regard to domestic sales in the Mainland, enhancing their production and operational efficiency to help them seize GBA opportunities in the post-pandemic era."

The companies surveyed believe that Hong Kong possesses various advantages in developing the GBA domestic market, including the good reputation enjoyed by Hong Kong brands or Hong Kong products on the Mainland (48.4%), and Hong Kong being good at bringing in quality and trendy products from overseas (43.3%).

The report also showed that products that are "Made in Hong Kong", "Made by Hong Kong" and "Designed by Hong Kong" are all well received in the Mainland market. As such, Hong Kong companies should formulate the right business strategy targeting the domestic market as part of their plan to develop the GBA market.

Domestic sales risk management is crucial

According to the report, enterprises engaging in domestic sales in the Mainland or exports are inevitably exposed to certain market and customer credit risks. As credit transparency in the Mainland is rather low, Hong Kong companies must take risk management seriously and seek professional services that can provide due diligence checks when necessary to find out about the business status and credit background of their clients. Apart from the option of avoiding sales on credit to clients, Hong Kong companies should also consider using such tools as credit insurance to strike a balance between market development and risk control.

References
– HKTDC Research Portal: http://research.hktdc.com/
– Hong Kong – the Business Platform to Capitalise on Greater Bay Area Opportunities in Post-pandemic Era: https://research.hktdc.com/en/article/MTIzNDA4NTczNw
– Photo download: https://bit.ly/3h5tFJM

About HKECIC

HKECIC was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115). Through the provision of export credit insurance services, HKECIC protects Hong Kong exporters who trade on credit terms with overseas buyers against non-payment risks and helps them conduct export business in a prudent manner. The HKSAR Government provides a guarantee of HK$55 billion for HKECIC's contingent liability.

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 The 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 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

HKECIC
Corporate Communication Division
Gina San
Tel: +852 2732 9998
Email: gina.san@hkecic.com

HKTDC
Corporate Communication & Marketing Department
Kate Chan
Tel: +852 2584 4239
Email: kate.hy.chan@hktdc.org

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Sri Trang introduces new Super Driver jobs for traditional natural rubber planters

BANGKOK, Dec 6, 2022 – (ACN Newswire) – Sri Trang Agro-Industry Plc. (SET: STA), the world's leading fully integrated natural rubber company, has opened registration for "Super Drivers" to create extra income for rubber planters from a secondary career as rubber transporters, building a rubber delivery network from plantations to factories in the Sri Trang Group. This will connect stakeholders in the rubber industry ecosystem, and drive the industry towards digitalization.



Mr. Veerasith Sinchareonkul, President & Executive Director of Sri Trang Agro-Industry (STA) explained that following the Company's launch of "Sri Trang Friends", the first App. to combine support services for farmers, trading partners, and related services across the digital platform, recently expanding with the new "Sri Trang Friends Station" App, which offers a rubber sales and trading platform, and allows interested natural rubber planters across the country to apply for membership, facilitating a more transparent and professional rubber trading business. This is a major development that will propel the Thai rubber industry towards digitalization, connecting networks of stakeholders across the natural rubber industry ecosystem in Thailand.

Most recently, the Sri Trang Group initiated the new "Super Driver" service, "heroes" to fellow farmers, providing rubber delivery services to Sri Trang rubber factories for fellow rubber planters who may be constrained by distance. The "Super Drivers" will pick up the rubber from plantation owners who require this service, then deliver the products to Sri Trang factories, thus alleviating the problems associated with approaching the factories and the delivery of rubber. Initially, the program is being launched as pilot projects in Loei and Ubon Ratchathani provinces, and will soon be introduced throughout the country.

The main differences that makes the "Super Driver" model special are the approach and the application process. The main target groups are the rubber planters, or those with families in the rubber plantation or rubber delivery business, with their own delivery trucks, who would like to earn extra income, and be ready to represent the senders and various types of natural rubber, such as fresh latex, cup lump rubber, raw rubber sheets and ribbed smoked rubber sheets from plantations in nearby vicinities, to be delivered to factories in the Sri Trang Group. The main purpose of "Super Driver" recruitment is to create an additional income stream for rubber planters and their relatives, along with helping rubber planters with direct access to the factories, as if having the factories right on the gates of their plantations. This is also in line with the Company's policy to conduct its businesses sustainably by caring for the stakeholders in all sectors.

There are no application fees for the applicants. Moreover, they will receive the following benefits: 1) The ready-for-use POS with the downloaded App., 2) A floor-stand weighing scale, and 3) A gift set for Super Drivers, etc. Income from the delivery of rubber to the factory plus the diligence bonus for each "Super Driver" is expected to amount to approximately 18,500 baht per month.

"Our big mission is to create an additional income stream for people in and around rubber plantations by their becoming Super Drivers so they can elevate their quality of life. In addition, the model will provide easy access and opportunities for plantations that are located far away, to access the factories more readily, while connecting all the people involved in the rubber industry ecosystem through the App. which has been specially developed by the Company. In the near future, the "Sri Trang Friends" and "Sri Trang Friends Station" Apps that support the two groups of users – rubber traders and the Super Drivers – will have some connected functions that are aimed at positive and sustainable development towards the "Sri Trang Friends Ecosystem", Mr. Veerasith concluded.

Released by Public Relations Dept., MT Multimedia Co., Ltd. for Sri Trang Agro-Industry Plc.
For additional information, please contact: Wasana 'Jeab" Wongsiri
T: +66 84 359 0659, +66 2 612 2081 ext.131; E: wasana.w@mtmultimedia.com

Sri Trang Agro-Industry Plc. https://www.sritranggroup.com/en/home
[SET: STA; STA-R; STA/F] [SGX: NC2; STA] [XTR: YTAA] [OTCPK: SRGPF]

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Domineum and Expert Vision Consulting (EVC) partner to drive Digital Transformation Globally

MECCA, Saudi Arabia, Dec 6, 2022 – (ACN Newswire) – The International Strategic Collaboration between UK-based Domineum (www.domineum.io) and Saudi-based Expert Vision Consulting (www.evc.sa) outlines the long-term goals between the two companies in line with Saudi Arabia's Vision 2030. Small and Medium Enterprises (SMEs) are among the most significant drivers of economic growth and an important area of focus of the Saudi Vision 2030: creating jobs, encouraging innovation, and strengthening economies. The aim of this partnership is to combine the strengths of each to drive digital transformation by creating access to new markets, new digital products, training, and investment tools.


Domineum Blockchain Solutions, which helps governments and businesses digitize their processes to increase efficiency offers a full suite of Blockchain applications including Identity verification solutions, Credential verification, Land and real estate solution, Cargo Tracking Note solutions, and other software for more efficient work, will provide digital transformation services and support small and large companies' growth across the world.

Expert Vision Consulting Company (EVC) is a Saudi-based company providing consulting services for decision-makers, enabling them to achieve their innovative business visions for the future. EVC has the capability to translate ideas into reality, serving both the Public Sector & Private Sector in three Areas: Consultation, Solutions, and Innovations.

EVC provides consultancy services related to major national projects by supporting many government agencies to achieve the Saudi Arabia Vision 2030 and has earned their clients' trust due to being keen as the first company clients look to as a partner trusted to provide a complete Digital Transformation journey for its clients. With a ranking reputation of being among the fastest-growing tech companies in Saudi Arabia.

The MoU was signed on the 25th of November 2022 at EVC headquarters in Mecca Saudi Arabia by DR Basim Zafar, Founder/CEO of Experts Vision Consulting (EVC), and Mohammed Ibrahim Jega, Co-Founder of Domineum Blockchain Solutions. We believe this partnership will accelerate and propel digital transformation in Governments and various industries such as health care, agriculture, fin-tech, education, commerce, energy, supply chains, etc.

Dr. Basim Zafar, the Founder/CEO, of Experts Vision Consulting (EVC), said, "As a company that continuously strives to empower the technology sector, we are delighted to collaborate with Domineum to offer multi-tier support to the public and private sector, companies as well as startups. We at EVC consider this partnership as part of the company's responsibility towards societal development."

Mohammed Ibrahim Jega, the Co-Founder of Domineum Blockchain Solutions, said "We are delighted to start our fruitful collaboration with EVC Saudi where we will leverage our mutual strength and further accelerate the digital transformation of Government and businesses. Digital transformation is more important than ever and Domineum with its fully integrated and intuitive solutions is a perfect choice for the effortless benefits possible for both governments and individual businesses."

For more information:

Ejeh Janet
E: business@domineum.io
Domineum Blockchain Solutions

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Hospitality 360 Expands Hotel Management Portfolio

KUALA LUMPUR, Dec 5, 2022 – (ACN Newswire) – Hospitality 360 Sdn Bhd (H360), a Malaysian hotel management and consulting company, is pleased to announce the signing of a strategic partnership with Wyndham Hotels and Resorts to expand their portfolio of hotels, resorts, and serviced apartments across Malaysia.
Yang Berbahagia Dato' Indera Naresh Mohan, Group Chief Executive Officer of Hospitality 360 Sdn Bhd; Ms. Teng Car Men, Executive Director of Jesselton Newcity Development Sdn Bhd and Mr. Matt Holmes, Vice President & Head of Development of Wyndham Hotels & Resorts (South East Asia and Pacific Rim) [L-R]


As H360 and Wyndham memorialize their common objective to continue their commercial dealings and deepen their business relations, we are witnessing the beginning of a new chapter in their illustrious partnership. Under the terms of their partnership agreement, H360 will deliver at least 15 hotels signed as franchises under various Wyndham-owned brands over the course of the next six years.

To mark this illustrious partnership, there were several Memorandum of Understandings (MoUs) and agreements for H360 to manage, under various Wyndham brands, 4 hotels and luxury serviced apartments in Sabah.

The MoUs were signed between Wyndham and the developers of the hotel properties, namely, Jesselton Newcity Development Sdn. Bhd; and Sumbangan Aru KK Sdn. Bhd; for the properties that will in turn be managed as Wyndham Grand, Dolce by Wyndham, and Ramada by Wyndham brands. Construction of these hotels, totalling more than 2000 rooms will commence in phases starting in 2023 and is expected to complete by 2027.

In addition to the pipeline of current signings, H360 through the newly announced strategic partnership with Wyndham also has other hotel properties in the pipeline. They are namely our future flagship property, the Wyndham Grand TRX KL with more than 190 rooms, developed by Core Precious Development Sdn Bhd in which the construction is underway and due to complete by Q4 2023; and the newly built Ramada by Wyndham The Straits Johor Bahru with more than 190 rooms which will be operational by Q1 2023.

Furthermore, the under construction, 85 rooms luxury serviced apartment project Isola KLCC, developed by OCR Berhad, the 152 rooms Shahzan Kuantan in Pahang, the 204 rooms Trinidad Suites Puteri Harbour in Johor and three more properties namely the 88 rooms Lisbon Melaka, the 158 rooms Trigo Kuala Lumpur, and the 90 rooms Shahzan Frasers Hill are all expected to sign to Wyndham's Trademark Collection brand.

Looking ahead and through the various agreements, we target to achieve a portfolio of approximately 5000 rooms all over Malaysia by 2027.

Group Chief Executive Officer of Hospitality 360 Sdn Bhd, Dato' Indera Naresh Mohan said, "This is an exciting time for us as we expand our hotel management portfolio to more locations around the country. The properties we will manage are targeted at different segments of the market, from leisure travellers and families to business travellers. We are looking forward to working with Wyndham to ensure all our guests get a full and holistic experience in our managed properties."

Vice President of Development, South East Asia & Pacific for Wyndham, Matt Holmes said, "By signing this strategic agreement with Hospitality 360 Sdn. Bhd, we continue to grow our operational presence in Malaysia. This move will position Wyndham strongly to tap on the exponential rise in travel demand which has accelerated since early 2022 as borders reopen across key markets in Asia Pacific. Looking ahead towards the future, we are excited and happy to strengthen the partnership with Hospitality 360 in Malaysia and deliver our iconic 'Count on Me' service to our business and leisure guests."

Hospitality 360 Sdn Bhd: http://hospitality360.my/






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