Tag: Local Business

Billions Lost in Illicit Trade Critical to COVID-19 Recovery

KUALA LUMPUR, Apr 2, 2020 – (ACN Newswire) – Retail and Trade Brand Advocacy (RTBA), a non-governmental organisation that safeguards business from criminal conduct, says strict action on illicit trade is critical at this time to recover billions of Ringgit that can then be channelled towards the COVID-19 economic recovery efforts.
Heath Michael, Managing Director of RTBA



Heath Michael, Managing Director of RTBA said: "The COVID-19 pandemic, compounded by plummeting oil and commodity prices and trade restrictions, is having a devastating impact on global and regional economies. Every Ringgit will count in the recovery, and radical action is needed from our governments."

"This is all the more important given that the tax revenue to GDP ratio in Malaysia had declined progressively from 15.6% in 2012 to 12.0% in 2018 and 11.8% in January-September 2019."

In Malaysia, the former Finance Minister, YB Lim Guan Eng, had stated recently that Malaysia's shadow economy accounts for 21% of gross domestic product (GDP) and amounts to an estimated RM300 billion annually. Illicit trade forms a large part of this shadow economy.

"When compared with nearby countries, Malaysia's shadow economy does not compare favourably. According to an International Monetary Fund Working Paper, Malaysia's average ratio during the 1991-2015 period was 31.5% – higher than Singapore (11.9%), Australia (12.1%), China (14.7%), Hong Kong (14.7%), Vietnam (18.7%), India (23.9%), Indonesia (24.1%) and South Korea (25.7%)."

"Research shows that cracking down on this criminal activity can recover billions of Ringgit for governments," he said.

Michael added: "Quick win strategies for Governments to shut down illicit trade include policies that addresses demand and supply factors, stricter border enforcement and enhanced collaborations at an intra-regional level. Times like these provide an excellent opportunity for countries to work together to support and rebuild economies."

RTBA defines illicit trade as smuggling, counterfeit and tax evasion activities that cause Governments to lose tax revenues, legitimate businesses to be undermined and consumers being exposed to unregulated or unsafe products. These products include counterfeited or smuggled luxury goods, electronic products, alcoholic beverages and cigarettes that are usually sold illegally on the black market.

In order to facilitate policy reforms and pro-active initiatives to protect legitimate businesses and retailers across the region from criminal conduct and illicit trade, RTBA will be expanding its presence by establishing regional offices in ASEAN countries, including Malaysia.

About Retail & Trade Brand Advocacy

RTBA is a coalition of business, retailers and trademark holders working to protect the retail and supplier industries in the Asia-Pacific region from the impact of criminal conduct. Based in Victoria, Australia, RTBA's focus is to unite, mobilise and advocate for effective change in regulatory, financial and taxation issues affecting the supply chain.

Today, RTBA continues to play an active role in the efforts to enhance product security and increasing penalties for criminals involved in black market operations; stamp out illegal activities including counterfeiting, piracy and illicit trade of consumer goods; protect brands & IP rights of suppliers, manufacturers, trademark owners and consumers as well as to provide positive regulatory and taxation solutions for all constituents of retail trade and supply chains. More information about RTBA is available on its website www.rtbacommerce.com

Issued on behalf of Retail & Trade Brand Advocacy
By Acendus Communications Sdn Bhd

For further information, please call I-mae Liew at +6012 383 5688

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Japan’s Leading Team Collaboration Platform Company, Cybozu Announces Asia Business Strategy

TOKYO, Mar 31, 2020 – (ACN Newswire) – Cybozu, Inc. (Head Office: Chuo-ku, Tokyo; CEO: Yoshihisa Aono; hereinafter "Cybozu") held a presentation on February 25, 2020, to announce its financial results for the previous fiscal year, as well as its business strategy for the current fiscal year highlighting its steady business performance and its future strategy for strengthening the sales system for kintone – Cybozu's flagship product – in the Asia Pacific region.

In January 2020, a new Business Strategy Office was established to strengthen the global deployment of Cybozu's sales expansion. In particular, kintone – a cloud-based app for work improvement – is seeing steady sales in the Asia Pacific region, where it is used as a platform by companies implementing the latest work styles. Going forward, Cybozu intends to continue to focus resources on this flagship product.

Strengthening activities with a view to establish a sales system in Cambodia within 2020:

To date, sales have started in major cities located in eight countries in Southeast Asia (Singapore, Malaysia, Thailand, Indonesia, Vietnam, Philippines, Myanmar, and Laos). Cambodia will be the ninth country where partners are located. In addition, there is also a study underway to examine the establishment of local subsidiaries in these nine countries. Cybozu will strengthen activities aimed at establishing a globally common sales system and business model within three years.

Focusing on human resource development:

In order to strengthen activities in the Asia Pacific region, Cybozu will also actively recruit students from the Asia Pacific region and focus on developing human resources that may play active roles in their home countries in the future.

Comments from CEO Yoshihisa Aono:

"With 'creating a society brimming with teamwork' as our vision, Cybozu offers tools globally for creating information-sharing platforms for all kinds of teams. As the improvement of productivity and work efficiency is pursued everywhere, we strongly feel the need for tools that can achieve these goals in the rapidly growing Asia Pacific region. Cybozu, in particular, is well-versed in the software as a service (SaaS) business that utilizes cloud-based technology and has become the standard in recent years. We believe that we can lead the market in this business.

Looking at the future, cloud tools capable of communication regardless of location will become essential during emergencies such as a pandemic. In Japan, there are already cases of cloud tools being used as a platform for virtual offices. Going forward, we intend to take advantage of our knowledge to reach the global market and to further strengthen activities to improve work efficiency and teamwork with companies seeking new working styles or preparing for emergencies."

kintone's sales performance:

– Total number of companies in Asia Pacific region using kintone: 590 in fiscal 2019 (39% increase from the previous year)
– Examples of companies using kintone: Gojek in Indonesia, Seiko (Thailand) Co., etc.

Cybozu's consolidated sales in fiscal 2019 was approximately 13.4 billion yen (28% increase from the previous year), with more than 70% coming from cloud-related sales.

About kintone (www.kintone.com):

kintone is a platform provided by Cybozu, Inc. for developing work apps. It allows the development of work apps according to the customer's purpose, including sales management; customer management; project management; visualizing business progress; to-do lists and tasking of teams; and communication across departments.

Applications can be developed without programming. In Japan, kintone is used by 14,000 corporate customers and is also increasingly being utilized globally, mainly in the United States, China, and Southeast Asia. Currently, seeking to move from No. 1 in Japan to No. 1 in the world, efforts are being undertaken in product internationalization and global sales.

Company overview:

Since its establishment, Cybozu has been developing collaboration tools that can utilize Internet technologies. To date, Cybozu's products have been used by more than nine million people globally. Financial results have grown since the cloud service kintone was released in 2011, and currently, Cybozu's operating profit is growing 57% year-to-year.

For Cybozu's global business, sales in China are undertaken by its fully-owned subsidiary Cybozu IT Shanghai Inc., while the fully-owned subsidiary kintone Corporation (Cybozu U.S.) undertakes sales in the United States. kintone Corporation is also recognized by leading companies in Silicon Valley and continues to expand there, having already carried out implementation at the ride-sharing company Lyft, Inc. The Cybozu Asia Partnership Program has been rolled out in Southeast Asia to bring activities closer to the respective local regions.

For media inquiries, please contact:

Etsuko Nagayama, Business Marketing Division, Cybozu, Inc.
27F Tokyo Nihombashi Tower, Nihombashi 2-7-1, Chuo-ku
Tokyo, Japan 103-6027
Email: cybozu-global@cybozu.co.jp

* Product names stated are the registered trademark or trademarks of the respective companies. In addition, Cybozu's products may include work(s) of other companies. Please see the following link for notes regarding each trademark or work. https://cybozu.co.jp/logotypes/other-trademark/

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Yamada Consulting and ZICO Unveil Advisory and Consulting Services Platform To Bridge Urgent Funding Gap Between Japan and ASEAN SMEs

SINGAPORE / TOKYO, Mar 26, 2020 – (ACN Newswire) – Yamada Consulting Group Co., Ltd. ("YCG") of Japan and ZICO Holdings Inc. ("ZICO") announced today they would offer a joint platform for advisory and consulting services to bridge a major funding gap between Japanese investors and ASEAN small and medium enterprises ("SMEs"), with initial target funding of between US$10 to US$50 million each.

The Strategic Collaboration Agreement was signed by Mr Keisaku Masuda, President and CEO of YCG, a leading independent consulting group based in Japan which is listed on the First Section of the Tokyo Stock Exchange, and Mr Chew Seng Kok, Managing Director of ZICO, a multi-disciplinary professional services firm listed on the Catalist Board of the Singapore Exchange.

The collaboration takes place amidst economic uncertainty, worsened by the Covid-19 crisis, as many Japanese corporations accelerate transformation through acquisitions in the face of an ageing population and slow domestic growth; while ASEAN SMEs urgently need access to more sources of funding beyond traditional bank borrowings.

With over 900 staff and offices in 13 Japanese cities, ASEAN, Shanghai and Los Angeles, YCG recorded an average of US$22.4 million in pre-tax profits for the last three financial years leading up to 31 March 2019. YCG focuses on, amongst others, restructuring and business succession consulting for Japanese corporations, many of whom seek acquisitions, alliances and extended business networks, offering major buy-side opportunities which the YCG-ZICO platform can address.

On the sell-side, ASEAN SMEs tend to be family-owned, dependent on internal resources and often lack access to bank borrowings and external investors. The Covid-19 situation may make this even more acute.

The confluence of these factors offers an exceptional opportunity for the YCG-ZICO platform to provide access to private equity and institutional investors from Japan looking for good business targets in ASEAN. While Japanese companies had made ad hoc attempts to seek such targets, the pace of transformation has accelerated recently.

YCG and ZICO will provide ASEAN SMEs with professional services support and access to these corporations as well as pre-IPO investors, and providers of mezzanine capital and private equity, initially targeting those in the range of US$10 million and US$50 million each. The platform will also leverage on YCG's expertise to provide technical, consulting and corporate restructuring services. Projects will be geared towards achieving business succession and transformation for target companies and SMEs, eventually leading up to exits through IPOs or trade sales.

The impetus from the buy-side is driven in part by activist shareholders in Japan demanding better returns and performance. YCG's Mr Masuda revealed that based on independent estimates[1], 63% of Japanese corporations are reviewing their direct investment portfolio every three months, with about half of them saying they intend to acquire companies over the next year.

Giving a breakdown of YCG's investor base, Mr Masuda said the Food & Beverage and Engineering/Construction sectors each comprised 26.3% followed by Energy/Oil and Gas (15.8%), IT & Digital and Logistics (5.3% each) and Others (21.0%).

While YCG will introduce buy-side investors from Japan, ZICO will tap on its network of partners and professionals who can provide deep local knowledge and insights of target companies in ASEAN.

YCG and ZICO will help corporations seeking investments, divestment or other means to grow revenue and profitability. Both sides will develop and execute corporate finance and M&A advisory projects; identify and facilitate international buyers and sellers; create, secure and execute sell-side and buy-side mandates; and support geographic acquisition strategies of corporate finance clients.

Due to the concerns arising from the Covid-19 coronavirus health situation, the momentum to increase investment and flows and business relationships between the two regions is expected to gather pace, boosted also by the strong network and deep client relations that both parties have in their respective regions.

Commenting on the strategic collaboration, Mr Keisaku Masuda said: "Japanese corporations are more eager than before to capitalise on opportunities in ASEAN. The potential for a surge in investment flows between Japan and ASEAN, hastened by the Covid-19 situation, makes it more conducive for both parties to collaborate. We see ZICO as a partner who shares our aspirations in seeking to build economic bridges between the two regions."

"This strategic collaboration lays the foundation of a platform to provide advisory and consulting services to Japanese investors and businesses in ASEAN. It will facilitate the provision of such services between Japanese companies who are seeking acquisition targets and ASEAN businesses, particularly SMEs, who intend to obtain investments or divest their businesses to international investors," said Mr Chew Seng Kok.

In line with the Strategic Collaboration, ZICO also announced separate agreements with two Malaysian sell-side advisory companies. They are Sage 3 Sdn. Bhd., a leading corporate finance advisory firm offering a range of services including debt restructuring and financing, and Andersen Corporate Restructuring Sdn. Bhd., a boutique corporate restructuring firm. Both firms have an extensive client base and strong professional networks in Malaysia.

The collaboration with these leading independent Malaysian firms provides valuable access for businesses-seeking capital and investments for expansion from Japan. Consequently, this will play a key role in strengthening the collaboration between ZICO and YCG by facilitating the identification of acquisition and investment targets for Japanese investors in ASEAN.

[1] Source: EY 17 June 2019, Global M&A appetite at 10-year high fueled by portfolio reshaping (https://www.eyjapan.jp/newsroom/2019/2019-06-17-en.html)

About Yamada Consulting Group

Listed on the First Section of the Tokyo Stock Exchange, Yamada Consulting Group Co., Ltd. engages in the provision of financial consulting services. It operates through the following business segments: Business Consulting, Real Estate Consulting, Financial Planner (FP) related, and Investment and Fund. The Business Consulting segment includes business revival, operations, and financial consulting. The FP related segment includes marketing course, corporate training, and insurance consulting for financial planners. The Investment and Fund segment includes composition and management of investment partnership and investment business. The company was founded on July 10, 1989 and is headquartered in Tokyo, Japan. For more information, please visit https://www.yamada-cg.co.jp/en/

About ZICO Holdings Inc.

ZICO, an integrated provider of multidisciplinary professional services focused on the ASEAN region, provides advisory and transactional services, management and support and licensing services. Through its multidisciplinary services, regional capabilities and local insights, ZICO enables its clients to capitalise on opportunities across Southeast Asia.

The Group currently operates two key business segments: (i) Advisory and Transactional Services ("ATS"); and (ii) management support services business & licensing services ("MSSL").

Within the ATS, ZICO provides legal services, Shariah advisory, trust advisory, corporate services, consulting services, investor services, wealth management services, corporate finance advisory services and immigration services. ZICO provides legal services only to the extent permitted in the relevant jurisdictions. In other jurisdictions, ZICO cooperates with and supports independent and autonomous law firms who are members of the ZICOlaw Network, in compliance with local professional regulations. Presently, ZICO provides legal services in Myanmar, Lao PDR and Thailand.

For the MSSL segment, the Group provides regional management services and business support services to members of the ZICOlaw Network and certain entities within the Group.

ZICO also engages in the licensing of the "ZICO", "ZICOlaw" and "ZICOlaw Trusted Business Advisor" trademarks to members of the ZICOlaw Network and certain entities within the Group.

ZICO has business operations in Indonesia, Lao PDR, Malaysia (including Labuan), Myanmar, Singapore and Thailand. The Group augments its existing regional presence with that of the ZICOlaw network to extend its reach to all 10 countries in ASEAN. For more information, please visit http://www.zicoholdings.com.

For media queries, please contact:

WeR1 Consultants Pte Ltd
3 Phillip Street #12-01, Royal Group Building
Singapore 048693
Tel: +65 6737 4844
Email: zico@wer1.net

Yamada Consulting Group Co., Ltd. Singapore Branch
78 Shenton Way #24-01
Singapore 079120
Tel: +65 6221 7727
Email: asean-support@yamada-cg.co.jp

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HKTDC Export Index 1Q20: Exporter confidence hits record low amid COVID-19 outbreak

HONG KONG, Mar 17, 2020 – (ACN Newswire) – The confidence level of Hong Kong's exporters has fallen to its lowest-ever level in the face of a triple challenge – the COVID-19 outbreak, softening global demand and lingering trade tension between the United States and Mainland China. The Hong Kong Trade Development Council (HKTDC) announced the latest HKTDC Export Index today with a reading of 16 – down a further 2.8 points from the previous quarter's low – indicating that local exporters have become more pessimistic about the city's short-term export outlook across all industries and markets, especially jewellery.
HKTDC Director of Research Nicholas Kwan (2nd R) announced the HKTDC Export Index for the first quarter of 2020 which hit its lowest-ever level of 16, indicating that Hong Kong exporters are pessimistic on the outlook for all sectors and markets, especially jewellery. The other speakers at the press conference were HKTDC Assistant Principal Economist (Asian and Emerging Markets) Wenda Ma (R), and HKTDC Economists Doris Fung (2nd L) and Poon Cheuk-hong (L)



Close to 94% of the 500 Hong Kong exporters surveyed said the COVID-19 outbreak has adversely affected their companies in areas such as arranging product deliveries (80.4%), supply of labour following the Chinese New Year holiday (76.2%), business contacts with overseas buyers or suppliers (60.5%) and supply of raw materials (56.1%).

HKTDC Director of Research Nicholas Kwan said the COVID-19 pandemic has disrupted the global supply chain, leaving entire markets in a state of uncertainty, and may accelerate its transformation. "Since the Sino-US trade dispute surfaced, many manufacturers have set up production lines outside the mainland to avoid additional tariffs. Following the COVID-19 outbreak, operations in some factories in the mainland – and even in Japan and Korea – have been suspended or have yet to fully resume, putting a strain on the global supply chain. For example, the shortage of electronics components has affected the supply of consumer electronics in the market. Multinational corporations may begin to further diversify their investments and no longer rely on a single country for production."

Mr Kwan added that the pandemic has resulted in the global economy losing its growth momentum, leading to a decline in the demand for new orders. "Economic and business activity has been on the wane worldwide during the outbreak. A total of 15 of the HKTDC's locally held trade fairs and conferences have been postponed. However, industry players can make good use of the HKTDC's digital platform for promotion purposes, and access government funding programmes to enhance their competitiveness and diversify production and markets."

Exporters bearish on jewellery and watches
The HKTDC Export Index highlights the city's current export outlook and its level reflects the positive or negative sentiment of exporters. HKTDC Economist Doris Fung said the figures in the latest export index are the lowest since its launch, across all industries, indicating that Hong Kong's exports are expected to stay in the doldrums in the coming months.

Ms Fung explained that consumer sentiment has been negatively affected by COVID-19, with a weakening in demand for luxury goods in particular. "The survey showed that exporters are most bearish on jewellery (8) and watches (13.9). The indexes for other industries are also well below the 50 watershed, including machinery (16.4), electronics (16.3), toys (14.9) and garments (14.2). The decline of the index for export markets was less severe. Companies are most positive about Japan (44.8) followed by the United States (40), Mainland China (37) and Europe (34)."

Impact of Sino-US trade dispute diminishes
Ms Fung explained that just one-third of respondents said the phase-one trade deal between the world's two largest economies and the subsequent tariff cuts would benefit their exports. Rather, traders have shifted their attention from softening global demand (18.5%) and Sino-US trade tensions (6.2%) to the impact of the COVID-19 outbreak, with 63.9% of respondents viewing it as the biggest threat to their exports over the next six months.

Compared with the last quarter of 2019 (56.5%), fewer respondents (51.2%) said they had been adversely affected by Sino-US trade tensions. Among the key issues affecting their businesses were reduced order size (70%), price bargaining from buyers (54.9%), sharing or bearing part of the tariff costs (16%), or cancelled orders (10.9%). In response to the trade issues, the local exporters surveyed had considered options such as developing in non-US markets (36.5%), lowering unit prices (28.2%), moving their production/sourcing base (23.1%), increasing the added value of products (22.4%) or even downsizing their companies (16%).

Hong Kong manufacturers look to opportunities in northern Vietnam
HKTDC Assistant Principal Economist (Asian and Emerging Markets) Wenda Ma expected that manufacturers will continue shifting or extending their supply chains from the mainland to other countries, including Vietnam. "While it has developed quickly as a manufacturing hub, Vietnam has become a victim of its own success, with growing issues such as congested ports and roads and the rising cost of land and labour."

In response, the Vietnamese government has given a massive push to improve the country's infrastructure sector. Several key infrastructure projects in the northern part of the country have been completed and are now in operation, including the deep seaport of Hai Phong and two international airports in Cat Bi and Van Don, coupled with significant improvements in the region's road network and the supply of utilities such as electricity and water. "These improvements have helped to make Vietnam's northern provinces much more attractive to overseas investors, and an electronics cluster is now taking shape," Ms Ma said.

She added that with its proximity to China, northern Vietnam is particularly suitable for industries that rely on supplies of raw materials, parts and components from the mainland's southern provinces. Although wages in Vietnam are still substantially lower than in the mainland, low cost is no longer the country's most competitive factor, which may make it less attractive to labour-intensive industries.

High level of consumer confidence in Greater Bay Area
A study of consumer markets in the nine mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area found that close to 80% of the middle-class consumers surveyed in these cities believe that both their income and expenditure will increase in the coming three years. On average, respondents said they spend 28% of their monthly income on living expenses, 19% on investment/wealth management and insurance, and 18% on savings.

HKTDC Economist Poon Cheuk-hong said these middle-class consumers value improvements in areas such as their personal image and smart living, with more spending in the past year on upmarket clothing and footwear (46%), high-end skin-care products/cosmetics/perfumes (46%), personal electronics products (45%), fitness services (37%) and beauty services (32%). "Those surveyed said they are, on average, willing to pay a 29% premium for made-to-order products, especially electronics products and jewellery items. In addition, Hong Kong companies can pay close attention to opportunities arising from the growing demand for personalised services, cultural performances and personalised image-enhancing services," Mr Poon said.

He explained that the middle-class consumers surveyed have a preference for the online-to-offline (O2O) consumption model, whereby they get product information and make the actual purchase online, while experiencing the products and services in physical stores. The study also found that e-tailing platforms, WeChat and video-sharing social networking platforms such as Douyin and Kuaishou are the most popular mobile apps in terms of influencing consumers' buying decisions.

"The survey also revealed that middle-class consumers in the nine mainland cities in the Greater Bay Area agree that Hong Kong is a 'shopping paradise' as well as being the most international city in the region," Mr Poon added.

The survey was conducted in November 2019, interviewing 2,160 middle-class consumers from Guangzhou, Shenzhen, Dongguan, Zhuhai, Zhongshan, Foshan, Jiangmen, Huizhou and Zhaoqing through an online questionnaire. The interviewees' average monthly individual income was Rmb10,257 with a monthly household income of Rmb18,294.

Note to editors: In response to the impact of COVID-19, the HKTDC has adjusted its schedule of exhibitions and conferences as part of a continued effort to create business opportunities for various sectors through multiple channels. For details, please see: https://home.hktdc.com/en/s/health-protection-measures

References
– HKTDC Research website: http://research.hktdc.com/tc
– HKTDC Export Index 1Q20 – Exporter Confidence Repeatedly Hit Record-Low amid the Novel Coronavirus Outbreak https://bit.ly/2Q4UNaT
– Northern Vietnam: A Magnet for Foreign Investment https://bit.ly/2IEaxh1
– The Mainland Cities of the Greater Bay Area (1): Consumer Characteristics and Wealth Management Arrangements https://bit.ly/2vQWDpg
– Photo Download: https://bit.ly/2xClSMj

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: http://www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Contact:
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Indonesia’s state-owned hospitals prepare isolation rooms as COVID-19 cases up

JAKARTA, Mar 16, 2020 – (ACN Newswire) – State-owned hospitals, under the Indonesian Healthcare Corporation (IHC) Pertamedika, will help the government handle the spread of coronavirus (COVID-19), including through treating and isolating patients at their facilities, State-Owned Enterprises Minister Erick Thohir stated.

"There are in all 65 state-owned hospitals, with special treatment rooms and 155 beds, and 66 safe houses," he noted in a statement received in Jakarta, Monday. He made the statement during a visit to the Pertamina Jaya Hospital in Jakarta on Thursday (Mar 12).

The number of people infected with COVID-19 in Indonesia continues to grow, with government spokesperson for COVID-19 handling, Achmad Yurianto, declaring that 117 had confirmed positive for the virus in Indonesia as of 5 a.m. local time on Monday (Mar 16).

Minister Thohir expressed confidence in the hospitals, under the state-owned facilities' network, and their abilities to offer treatments to those diagnosed with COVID-19.

"I am very confident. They can also provide better treatment than those offered at private hospitals, as we focus on serving the people rather than on mere business profits," he stated.

IHC Pertamedika comprises 65 hospitals located across Indonesia. Four facilities in Jakarta and Banten, include the Central Pertamina hospital, Krakatau Medika hospital, Pertamina Jaya hospital, and Pelni hospital.

Meanwhile, Central Java and East Java are home to the PHC hospital in Surabaya, Lavalette hospital in Semarang, Cirebon hospital, and Cilacap hospital.

The 12 hospitals located in Sumatra include the Plaju hospital in South Sumatra, Bakti Tuman Muntok hospital in Bangka Belitung, Prima Inti Medika hospital in Aceh, and Pangkalan Brandan hospital in North Sumatra.

Meanwhile, Kalimantan houses five health facilities: the Balikpapan hospital, Tanjung hospital and Danau Salak hospital in South Kalimantan, Parindu hospital in West Kalimantan, and Tarakan hospital in North Kalimantan.

In the eastern part of the country, an IHC Pertamedika hospital is located in Sorong, West Papua, with the Sorong hospital.

Director of IHC Pertamedika Dr. Fathema Djan Rachmat had informed ANTARA recently that apart from isolation rooms with negative pressure, she had prepared standard operational procedures for the treatment of patients under observation for COVID-19.

Rachmat also spoke of IHC Pertamedika having developed a tracking system to find potential cases.

"Indonesia stands united against this pandemic, so we need to develop a tracking system to identify patients or people under surveillance," she explained. — Antara.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Tiger Trade, the one-stop global trading app, launches in Singapore

SINGAPORE, Mar 13, 2020 – (ACN Newswire) – Tiger Trade, a one-stop mobile trading application by Tiger Brokers, has launched in Singapore. Designed for investors to access the global markets and build global investment portfolios, Tiger Trade offers one of the most competitive commission fees in the market with the convenience of trading across U.S. and Hong Kong securities, futures and options markets.

Targeting Singapore's mobile-savvy younger generation of retail investors, Tiger Trade offers lowest commissions per trade, for as low as US$0.99 (S$1.39), excluding brokerage and exchange fees. This lowers the barrier of entry to help investors better diversify their portfolio, balancing their investment risk and reward.

Mr Wu Tianhua, CEO of Tiger Brokers, says "Tiger Brokers is very excited with the launch of Tiger Trade, our intuitive global trading app, here in Singapore. With Tiger Brokers' rich broker-dealer experience and Tiger Trade's dynamic multi-currency trading platform, investors will be able to make more informed decisions and better manage their investment portfolio anywhere, anytime."

Tiger Brokers had over 600,000 customer accounts worldwide with a trading volume of US$26.8 billion (S$37.5 billion) for the quarter ending 30 September 2019. "We take pride in our proprietary technology. Tiger Trade's efficient and robust interface creates a user-friendly and seamless experience for our users from account opening to trading right at the fingertips," added Mr Wu.

Tiger Trade creates an unparalleled experience for users, with complimentary real-time stock quotes, dedicated multilingual customer service during trading hours, and 24/7 finance news updates. The app also includes AI-driven data screeners, and easy-to-analyse trading charts, and the convenience of trading across multiple markets with the multi-currency facility, also provided 24/7.

Mr Eng Thiam Choon, CEO of Tiger Brokers (Singapore), leads the Tiger Trade launch in Singapore, with 14 years' experience focusing on institutional clients in the futures industry. "As Singapore positions itself to be the fintech hub in Asia and beyond, Tiger Brokers could be the solution to address Singaporeans' appetite for investment, helping them to diversify their portfolio into international markets at competitive cost rates."

"Having the platform in the form of a mobile application aligns with the mobile-savviness of our users. Coupled with a high per capita income and Singapore's excellent telecommunications infrastructure, it is an opportune time for Tiger Brokers to enter the Singapore market," added Mr Eng.

The Tiger Trade mobile application is available for download on Apple App store and Google Play store.
– App store: https://apps.apple.com/sg/app/id1023600494
– Google Play: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock

Tiger Brokers (Singapore) is offering new users a chance to win free stocks valued between S$2.50 to S$1,000 by opening a trading account, from now till 31st March 2020. https://www.tigerbrokers.com.sg/market/sem-sg?invite=TIGERSG003

Founded in 2014, Tiger Brokers is an online stock brokerage start-up backed by Interactive Brokers Group Inc, Xiaomi Inc, ZhenFund and Wall Street investment guru Jim Rogers. As a rising star in the industry, the Fintech company is committed to serving the best interests of stock investors and being a gateway to build their global portfolios.

Tiger Brokers (Singapore) Pte Ltd is a licensed broker under the Monetary Authority of Singapore (MAS) providing one-stop online brokerage services. Tiger Brokers' one-stop trading platform for global asset allocation serves investment professionals worldwide, and gives investors in Singapore access to fast trade execution with competitive transaction fees and advanced technological tools to better manage investment portfolios.


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JCB International signs License Agreement with Kyrgyzkommertsbank to start acceptance of JCB cards in Kyrgyz Republic

Bishkek, Kyrgyz Republic and Tokyo, Japan, Mar 10, 2020 – (ACN Newswire) – JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., and PJSC Kyrgyzkommertsbank, one of the leading banks in the Kyrgyz Republic announced signing a License Agreement for building a JCB card acceptance network and to start JCB merchant acquiring operations in the Kyrgyz Republic.

All JCB cardmembers travelling to Bishkek and other cities of the Republic will be able to use their JCB cards for purchases at merchants and for cash withdrawals at ATMs of Kyrgyzkommertsbank throughout the Kyrgyz Republic by the end of 2020.

This partnership will allow both the merchants affiliated to Kyrgyzkommertsbank to add a new payment system brand as an incremental sales opportunity, and JCB to offer cardmembers wide acceptance during tourist and business stays in the Kyrgyz Republic.

JCB is one of the major international payments brands and the only one originated in Japan. There are more than 130 million JCB cardmembers in the world, and JCB cards are accepted at 33 million associated merchants.

Takashi Suetsugu, the General Director of JCB International (Eurasia) LLC commented, "We are delighted to announce that Kyrgyzkommertsbank, a bank with a reliable and stable reputation and having a long history of success in the financial market of the country will start accepting JCB cards in the Kyrgyz Republic. The Kyrgyz Republic has one of the closest relationships with Japan among Central Asian countries, and we see an increasing number of travelers from Russia and China which are countries where JCB's card issuing business is growing rapidly. We hope that the cooperation with Kyrgyzkommertsbank will help to create a more comfortable and hospitable environment for JCB cardmembers from these countries".

"Evolvement of non-cash turnover in Kyrgyzstan is one of our strategic priorities. Developing cooperation with JCB, Kyrgyzkramdsbank will simplify payments with cards for tourists from East and South-East Asia. JCB cardholders traveling in Kyrgyzstan will be able to use their cards to pay for purchases and withdraw cash at Kyrgyzkommertsbank ATMs throughout Kyrgyzstan. This partnership will allow trading companies cooperating with Kyrgyzkommertsbank to get new sales opportunities with the help of the global financial brand," commented Erik Usubaliev, Deputy Chairman of the Board of Kyrgyzkommertsbank.

About PJSC Kyrgyzkommertsbank

PJSC Kyrgyzkommertsbank is a Kyrgyz-Japanese bank that provides a wide range of banking services in the Kyrgyz Republic and has been operating effectively in the financial market for over 27 years.

Constantly improving and keeping up with the most modern international trends, the Bank is a stable and reliable financial institution of the Kyrgyz Republic.

The main areas of business: deposit placement, lending, settlements and cash services for legal entities and individuals, operations with securities, foreign currency, issuing and servicing of credit and payment cards. The Bank has the highest status of Principal Member of the international payment systems, Visa, Mastercard and Union Pay International. It serves Visa, Mastercard, Maestro, American Express, Union Pay International and Elcard cards. Additional information about Kyrgyzkommertsbank is available on the official website of the bank www.kkb.kg

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/.

CONTACT
JCB
Kumiko Kida
Corporate Communications
Tel: +81-3-5778-8353
Email: kumiko.kida@jcb.co.jp

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SOE Hospitals Holding Pertamedika set to tackle Coronavirus Spread

JAKARTA, Mar 9, 2020 – (ACN Newswire) – Indonesia's government, through the State-Owned Enterprise (SOE) Ministry, instructed government-owned hospitals in the Indonesian Healthcare Corporation (IHC) Pertamedika to establish crisis centers and isolation rooms during the emergency period to handle the spread of coronavirus (COVID-19).
Ministry of SOE of Republic of Indonesia Erick Thohir



Moreover, the hospitals should be equipped with other medical supplies, including long-sleeves biohazard gowns, aprons, disposable head caps, N95 masks, safety goggles, gloves, and boots.

"State-owned hospitals are located in almost every area in Indonesia. Hence, crisis centers should be built as a precautionary measure against the emergence of patients suspected of having contracted the coronavirus," Minister of State-Owned Enterprises Erick Thohir noted in a statement received here, Monday.

Reports were received of at least six confirmed cases of COVID-19 since March 2. All six patients are being quarantined in Jakarta.

In response to the first few confirmed cases in Indonesia, IHC Pertamedika, a network of 65 state-owned hospitals across Indonesia, prepared supporting facilities and COVID-19 alert teams, as well as standard operational procedures to handle coronavirus cases.

Chief Executive Officer of IHC Pertamedia, Dr Fathema Djan Rachmat stated that negative pressure isolation rooms were prepared to handle the increasing number of patients.

"We are also considering the construction of a field hospital equipped with various treatment facilities for coronavirus patients," she stated.

Rachmat spoke of innovations made to the tracking system for suspected COVID-19 cases. The Chinese government has successfully applied such tracking systems.

"We are ready to conduct this simulation," she emphasized.

Furthermore, other SOEs have contributed to the efforts to prevent the spread of coronavirus in the country, including the SOE in the pharmaceutical field, Bio Farma, which has begun the research for a COVID-19 vaccine.

PT Angkasa Pura I and II, operational management companies of the country's airports, had prepared isolated parking areas for aircraft that came in from countries with confirmed coronavirus infections.

Meanwhile, SOEs in the transportation sector, including railway management company PT Kereta Api Indonesia, have activated their onboard clinics and inspections on several routes. — Antara.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

ZALL Sources Medical Supplies from Across Asia to Fight the Coronavirus in Wuhan and Hubei

SINGAPORE, Mar 2, 2020 – (ACN Newswire) – ZALL Smart Commerce Group (ZALL), the premier e-commerce group in Asia, is leading the charge to donate medical supplies and humanitarian aid to the field hospitals and quarantine facilities in Hubei and Wuhan as the battle against the coronavirus (2019-nCoV) outbreak continues.

To date, ZALL has provided six air cargo shipments of quality medical supplies, including masks, protective clothing, goggles, gloves and disinfectants, sourced from Asian countries including Cambodia, India, Japan and the Philippines for the equivalent of RMB60 million (S$11.9 million).

Mr Peter Yu, ZALL Deputy Chief Executive said, "We were the first company to react to the shortage of medical resources in Wuhan, mobilizing partners across the Asian region to deliver emergency medical supplies including 3.2 million facemasks and 210,000 of medical protective clothing on 26 January, within 48 hours of the city's lockdown, tapping our global end-to-end supply chain networks and resources in Asia."

On the ground, ZALL partnered with local healthcare to set up seven emergency hospitals and two quarantine field facilities in Wuhan and Hubei, comprising of 7,500 beds to alleviate the severe hospital bed shortage at the epicentre, and donated 10 new negative-pressure ambulances to transport coronavirus patients.

Since the lockdown, all flights and passenger train services from Wuhan have been cancelled and stopped, while intra-city transport such as buses, subways, and ferries have been suspended. The Hubei government has further imposed a ban on vehicle transport across the province to curb the spread of the virus.

Despite these restrictions, ZALL was able to secure the assistance of governments, embassies and civil aviation authorities in China, Cambodia and Japan, designating green lanes for expedited customs clearance, and arrange air cargo shipments for the emergency medical deliveries to Hubei and Wuhan.

"We have our eyes on global supply chains, and our immediate efforts have been to provide assistance to areas where we are seeing the greatest shortages in medical aid and equipment. We have been working with best efforts to alleviate the crises," added Mr Yu.

ZALL incorporates environmental and social sustainability as part of its long-term growth strategy, and has invested in a number of sustainable development initiatives across the region. These include building schools to provide equal access to quality education, supporting the breeding of critically endangered species to protect terrestrial ecosystems and biodiversity, investing in clean and affordable energy to tackle climate change, and digital banking to cater to the underserved SMEs and retail customers in Asia.

Since 2018, ZALL has invested in four projects in Singapore, including the Commodities Intelligence Centre (CIC), Singapore's first physical commodity eTrading platform (B2B) powered by blockchain technology; ZMA Smart Capital, an online trade finance company; ZALL Chain Technology, a blockchain solutions company; and the recent application for the Singapore digital banking licence. Through these and future initiatives, ZALL hopes to contribute to the development of digital finance, blockchain solutions and the trading ecosystem in Singapore.

[1] Seven emergency hospitals and two quarantine facilities: ZALL Changjiang Emergency Hospital; ZALL Jianghan Emergency Hospital; ZALL Dabieshan Emergency Hospital; ZALL Panlong Cheng Emergency Hospital; ZALL Luotian Emergency Hospital; ZALL Jingjiang Emergency Hospital; ZALL Suizhou Emergency Hospital; ZALL (Wuhan Keting) Quarantine Facility; Wuhan International Exhibition Centre ZALL (Jianghan) Quarantine Facility.
[2] ZALL donated RMB60 million towards building the Sanli Fan Dehe Primary School with 36 classes for over 1,500 students in support of access to quality education.
[3] ZALL supports the breeding program of the Aythya Baeri (Baer's Pochard), a critically endangered diving bird, to protect terrestrial ecosystems and biodiversity. Only 1,000 remain globally, of which 300 gather in Wuhan.
[4] ZALL invests in affordable and clean energy, cooperating with mining companies such as Indonesia's PT AME, to enable independent power plants to generate less coal ash and comply with global emissions standards through clean coal technology. ZALL further facilitated the shift towards clean energy with the international procurement and distribution of LNG in China through Singapore.
[5] ZALL operates Z-Bank, a digital bank in China which supports more than 12 million SMEs and retail customers (as of 12/2019). The Group currently leads a consortium for the digital bank license in Singapore.

About ZALL Smart Commerce Group Ltd
ZALL (2068.HK) is Asia's leading business-to-business ( B2B ) e-commerce group, with a footprint wrapping the globe. ZALL is engaged in businesses across many sectors, including the property development of wholesale trade centres; hotels, exhibition and tourism; port construction and operation, port and warehouse leasing, logistics services and supply chain management and trading services; e-commerce platforms; and digital banking business.

ZALL develops and operates Asia's largest B2B offline-to-online trade ecosystem, in China / Southeast Asia / Singapore, with more than 30 B2B platforms across China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL achieved a GMV of more than RMB 600 billion (US$85.2 billion), serving over 1 mil SME customers worldwide. For more information, please visit http://en.zallcn.com/

Media enquiries:
PRecious Communications for ZALL Smart Commerce
Email: ZALL@preciouscomms.com
Phone: +65 6303 0567

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Hong Kong Trade Development Council welcomes new Budget

HONG KONG, Feb 26, 2020 – (ACN Newswire) – Chairman of the Hong Kong Trade Development Council (HKTDC) Dr Peter Lam welcomes the new 2020-21 Budget, including the additional HK$150 million funding to the HKTDC to help Hong Kong businesses find new opportunities and to help the city rebuild international business confidence in Hong Kong as Asia's commercial hub.

Dr Peter Lam said, "We are greatly encouraged by the support from the government. Hong Kong's SMEs [small and medium-sized enterprises] are tackling immediate financial challenges; I hope the measures in the Budget, together with the recently announced corona virus relief package for the convention and exhibition industry, will help them win new business and open up new markets".

Dr Lam added, "When the cornavirus subsides, we will redouble our efforts to leverage HKTDC's global network to reach out to the international community. I sincerely hope that, through enhanced promotional events, increased participation in trade fairs worldwide and proactive outreach through overseas business missions, we will help Hong Kong companies shore up their strengths and forge a bright future."

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: http://www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Contact:
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org
Susanna Sin, Tel: +852 2584 4294, Email: susanna.kc.sin@hktdc.org



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com