Leon Fuat Berhad Records Stellar Quarter due to Rising Global Demand, Profit Up 3,297%

SHAH ALAM, Malaysia, May 28, 2021 – (ACN Newswire) – Leon Fuat Berhad ("Leon Fuat"), a manufacturer and trader of steel products, specialising in rolled long and flat products, today announced that the Group recorded a 3,297.0% rise in profit after tax ("PAT") to RM36.11 million for the quarter ended 31 March 2021 ("1Q 2021") compared to the RM1.06 million registered in the same quarter of the previous financial year.

Calvin Ooi Shang How, Executive Director of Leon Fuat

Improved Revenue and Profit Margins

The gross profit recorded a 296.0% increase to RM53.34 million for 1Q2021 compared to the RM13.47 million in gross profit for the corresponding quarter of the previous financial year due to the 9.4 percentage points rise in gross profit margin for trading of steel products to 22.2% while gross profit margin for processing and/or manufacturing (collectively referred to as "processing") of steel products increased by 16.4 percentage points to 26.8%.

Overall revenue increased by 76.2% to RM211.48 million in 1Q2021 compared to the RM120.04 million in the corresponding quarter of the previous financial year. On a segmental basis, revenue from trading of steel products increased by 87.5% to RM74.29 million for the quarter under review while revenue from processing of steel products increased by 70.7% to RM137.11 million. The trading segment share of revenue contribution stood at 35.1% in the quarter under review while the processing segment's share of revenue contribution stood at 64.8%.

Rising Steel Prices Worldwide Due To Global Demand

Calvin Ooi Shang How, Executive Director of Leon Fuat said: "We are pleased to be able to achieve such favourable result this quarter. Steel prices have been advancing worldwide since the second half of 2020 on the expectations of an improving global economic outlook. There is a global steel boom underscored by strong demand with prices rising to a multi-year high. Nevertheless, while steel prices show no sign of coming off anytime soon, we are cautious, both for the outlook on prices and the economy as the COVID-19 pandemic shows no sign of abating."

"Given the uncertainties surrounding the pandemic, much will continue to depend on how well key economies around the world can recover and the effect this will have on steel demand and prices. Volatile commodity and crude oil prices will continue to have an impact on the ringgit, with these factors affecting the profitability of our steel products given that most of these products are sourced from overseas. We aim to strive for sustainable growth and will continue to monitor steel prices as well as related foreign currencies and will take proactive measures including negotiating forward contracts, prudent inventory management and cost-management to mitigate any negative impact."

"We have and will continue to actively address all concerns relating to COVID-19 in regards to our employees and the business operations. This is on top of adhering to all MCO regulations and other standard operating procedures from the National Security Council. The Group has in place emergency response teams ("ERT") in three of its subsidiaries and is considering a group-wide ERT."

Leon Fuat recently completed a private placement exercise where funds raised will be invested into business expansion and purchase of new machineries to meet customer's orders. As of today, Leon Fuat's share price closed at RM1.06 with a market capitalisation of RM361.46 million.

Please contact below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Central Global Berhad Posts 25% Rise in Revenue

KUALA LUMPUR, May 25, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad ("CGB") recorded a 25.42% increase in revenue to RM37.56 million for the first quarter ended 31 March 2021 ("1Q2021") compared to RM29.95 million recorded in the same quarter of the previous year.

CGB executive chairman Dato' Faisal Zelman

The Group registered a loss before tax ("LBT") of RM1.03 million for 1Q2021 compared to a profit before tax ("PBT") of RM760,000 in the corresponding quarter of the previous year. On a segmental basis, CGB's manufacturing arm recorded a 48.3% increase in revenue to RM17.36 million compared to the RM11.7 million recorded in the same quarter of the previous year while the construction arm registered a 10.7% increase in revenue to RM20.2 million compared to the RM18.24 million recorded in the corresponding quarter of the previous year.

For 1Q2021, CGB's manufacturing arm registered RM510,000 in PBT from LBT of RM139,000 in the corresponding quarter of the previous year due mainly to higher revenue contribution from trading of industrial tapes and label stocks. For the quarter under review, the construction arm recorded LBT of RM938,000 compared to PBT of RM1.05 million in the same quarter of the previous year mainly due to lower contribution from two projects located in Penang that were completed and handed over in 1Q2021.

CGB executive chairman Dato' Faisal Zelman said: "We continue to be upbeat about the Group's outlook despite the challenges posed by the rise in COVID-19 infections and its impact on business sentiment. The plans that we shared publicly are being implemented and we are confident that these plans will benefit the Group."

"The approval by Bursa Malaysia Securities Berhad of our proposed private placement of 18 million new shares in late April will help these plans along. As we have shared, we intend to upgrade our manufacturing arm's capacity as well as fund an existing construction project in Penang. We have also clinched an RM101 million construction project in Lahad Datu, Sabah that will substantially boost the construction arm's contribution to financial performance in the coming quarters. The manufacturing arm continues to take advantage of the change in market structure arising from a more fragmented competition landscape while the continued supply-chain disruption arising from pandemic lockdowns has given us the opportunity to penetrate the domestic market further."

"The surge of COVID-19 infections has certainly been worrying and we are monitoring the situation as it unfolds. We continue to adhere to all standard operating procedures to ensure the safety and health of our employees, vendors and customers."

Please contact below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Washington Companies Refuses to Provide Key Documents in Federal Court Case and is Served with Motion to Compel to Produce Documents

LAS VEGAS, NV, May 25, 2021 – (ACN Newswire) – A Motion to Compel was served on Washington Companies subsidiary Thursday, May 20, 2021. A Motion to Compel asks the Federal Court to enforce a request for information relevant to the case. This Federal motion is used when one of the parties does not cooperate, refusing to answer requests for discovery appropriately, or fails to respond by the deadline. In this federal suit, the Washington Companies subsidiary has failed to provide three key documents. These requested documents include information regarding the bonus programs for the managers of the Rochester, WA complex, an accident report, and emails relevant to the case.

There have been two requests for these important documents about how Washington Companies employee Mr Dale Birdwell's bonus was calculated and the items that came into play to see if the division Mr Birdwell managed qualified for a bonus.

The ETON company which was hauling the machines seeks to find out if Mr Birdwell would have lost his bonus if Mr Birdwell's group would have been found at fault for an accident when a truck carrying two Komatsu loaders struck a bridge in the State of Washington after leaving the Modern Machinery lot. There is speculation that Mr Birdwell's bonus was a factor in the missing accident report which is crucial to the Federal lawsuit.

There exists a narrative that Mr Birdwell's potential profit-sharing income was the reason for Mr Birdwell's action in producing a second accident report and his loss of the first accident report of a preventable bridge strike. The Bridge strike was along the busy I-5 freeway as it travels through the State of Washington. There is belief that the original accident report would provide information into what really happened in the loading of the two pieces of equipment which struck an overpass with such force as to cause the State of Washington to declare an emergency and demolish the bridge. The State of Washington then had to quickly build a new bridge to replace the damaged bridge.

ETON is a Las Vegas-based premier transportation company serving the Western United States with equipment, professional drivers and superior on-time service.

The Washington Companies are a group of individual, privately held companies headquartered throughout the United States and western Canada and conducting business internationally. Our purpose is to reliably provide equipment, technology, service, and special expertise that aid our customers to operate more efficiently and more profitably. Our affiliation gives us the ability to interconnect and combine resources and remain highly competitive. The individual success of each Company also empowers a strong sense of social responsibility, realized through corporate charitable activities and programs funded by the Dennis and Phyllis Washington Foundation.

Modern Machinery a part of a large consortium of privately held companies collectively known as the Washington Companies, owned by billionaire Dennis R. Washington. Modern Machinery sells and rents high-quality heavy equipment and provides product support to the construction, mining, and forestry industries. The Modern Machinery terminal in Rochester, WA is home to a large staging area for a variety of Komatsu product brought from overseas awaiting shipment to other Komatsu dealers.

Komatsu America Corp. is a U.S. subsidiary of Komatsu Ltd., (OTCMKTS: KMTUY) the world's second-largest manufacturer and supplier of earth-moving equipment, consisting of construction, mining and compact construction equipment.

CONTACT:
ETON.me
Mitchell Truman
+1 (702) 348 6370
http://www.ETON.me
Environmental Transportation of Nevada, LLC

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

International Artist Arnel Pineda, Lead Singer of the Rock Band Journey, Book “Journey of My Life” Represented by Agent Alan Morell of Creative Management Partners (CMP)

BEVERLY HILLS, CA, May 21, 2021 – (ACN Newswire) – via NewMediaWire – Announced today, international recording artist Arnel Pineda, lead singer of the rock band Journey, whose book "Journey of my Life" is represented by agent Alan Morell of Creative Management Partners (CMP). Mr Pineda's book is being adapted for TV/Film by CMP.

Arnel Campaner Pineda (born Sept 5, 1967) is a Filipino singer and songwriter. He performed locally in the Philippines and Hong Kong during the 1980's but rose to international fame in 2007 when he was selected as the new lead singer of the American rock band Journey.

Said Mr Pineda: "My manager Rene Walter (Sanre Entertainment Group) has been a trusted friend and associate for more than a decade. He led the search for the right person to represent my life story. Our clear choice was Alan Morell, for which I am very pleased and honored."

Said Rene Walter: "We looked for this attribute when we searched for the best Literary Agent to help us bring Arnel's 'Rag to Riches' story to life, and this led us directly to Alan Morell and Creative Management Partners (CMP.) Alan is highly respected within the Entertainment, Sports and Literary fields, where he is known for his professionalism, honesty, and charm. He has the knowledge, the relationships, the flexibility, and most importantly, the mindset to deliver success."

Said Agent Alan Morell: "Arnel is a fantastically gifted artist and performer. My sincere interest is to bring his wonderful story to life – the story of his struggles and heartache to the moment he was lifted from obscurity to become the lead singer of the legendary band Journey. Arnel has risen to international acclaim as he and the band helped bring Journey to the pinnacle of success. In the end, talent wins out."

Arnel's book submission to publishers will be in Q4, 2021 for bid out.

About Alan Morell:

Mr Morell has 30 years of global experience managing over 3,000 campaigns in the successful development and management of talent, literary, TV and film packaging, commercial rights, corporate consulting, media positioning, sponsorship of live events and intellectual property (IP) rights. Mr Morell is one of the few in the sports, entertainment, and the arts industry, who has represented and managed clients, that have won the whole gamut of prestigious awards: Grammy, Tony, Oscar, Emmy, ESPY, Victors, Clio, Telly and NY Times Best Selling Authors.

Links:
Journey Lead Singer Arnel Pineda Official Site … https://arnelpineda.com/
Arnel Pineda – Wikipedia Site … https://tinyurl.com/bpkz7axj
Rene Walter Representative of Journey Lead Singer Arnel. … https://www.prweb.com/releases/2013/12/prweb11391246.htm
2019-2020 Literary and Broadcast News: Announcing Allan Morell … https://tinyurl.com/d9daf9y5
Hollywood Talent Agent Icon Harry Abrams, Founder/Chairman of Abrams Artists Agency … https://tinyurl.com/2yp3e8b3
2020-2021 Creative Management Partners (CMP) Highlight … https://tinyurl.com/4kxjsjth

Contact Information:
Creative Management Partners LLC (CMP)
9440 Santa Monica Blvd. Suite 301, Beverly Hills, Ca. 90210

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Moglix raises $120 million, joins unicorn club as valuation jumps to $1 Billion

Singapore, May 17, 2021 – (ACN Newswire) – Moglix has reached an important milestone by becoming the first industrial B2B commerce platform, in the manufacturing space, to become a unicorn. The company is said to be valued at $1 billion in its latest $120 million Series E funding round. The latest investment was led by Falcon Edge Capital and Harvard Management Company (HMC). This round of funding also saw participation from its existing investors, Tiger Global, Sequoia Capital India and Venture Highway.

Moglix Founder & CEO Rahul Garg

Moglix is India's largest and fastest growing B2B commerce platform in the industrial & MRO procurement space with a clear first-mover advantage. The Company is building an operating system for manufacturing that provides its customers a full stack service covering procurement, packaging, supply chain financing and highly integrated software.

Rahul Garg, Founder & CEO, Moglix, said:

"We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector. We had the trust of stalwarts like Ratan Tata, and a mission to enable the creation of a $1 trillion manufacturing economy in India. Today, as we enter the next stage of our evolution, we feel this financing milestone is a testimony to our journey of innovation and disruption.

In these unprecedented times, we have pledged our support and disruptive thinking to help solve the challe nge of effective distribution and sharing of oxygen concentrators covering 1M+ people in the country. Globally, we have also been instrumental, in this and the last year, in streamlining the PPE supply-chain and distribution across 20+ countries.

We are glad that Falcon Edge Capital and Harvard Management Company (HMC) have partnered with us in this journey. Falcon Edge, with its deep roots in the Middle East and Europe and an understanding of public companies will guide us through the next phase of our journey."

Speaking on the occasion, Navroz D. Udwadia, Co-Founder of Falcon Edge Capital said, "We have studied and tracked Moglix for years, driven by our global experience in investing in online MRO platforms. We are strong believers in Rahul, his first mover advantage, his full-stack solution for under-serviced customers and his ability to drive robust unit economics. Moglix's distinctive customer value proposition and ROI are visible in its outstanding customer and revenue retention numbers. We believe Moglix is now well poised to scale and we are thrilled to back the Company in the next phase of its growth."

Tiger Global, which participated in the Series D round in 2019, has also invested in the latest round. Scott Shleifer, partner, Tiger Global Management, said, "We remain excited about the team, market opportunity, and continued innovation. Moglix is a market leader and we expect they will grow rapidly with high returns on capital."

Moglix was founded in 2015, by IIT Kanpur and ISB alumnus Rahul Garg. Moglix provides solutions to more than 500,000 SMEs and 3,000 manufacturing plants across India, Singapore, the UK and the UAE. Several manufacturing majors such as Hero MotoCorp, Vedanta, Tata Steel, Unilever and PSUs such as Air India and NTPC procure indirect material through the Moglix platform. Moglix has a supply chain network of 16,000+ suppliers, 35+ warehouses and logistics infrastructure. With close to 500,000+ SKUs, its marketplace, www.moglix.com is the largest e-commerce platform in the industrial goods category in India.

Moglix also has an award-winning suite of software products for contract management and B2B Commerce. Global FMCG giant Unilever uses the platform for ~$30 billion of material spend annually in 70+countries. Moglix recently launched Credlix, a supply chain financing platform for suppliers and manufacturers and expects to power INR 1000 crore of financing in the coming year.

This latest round of funding takes the total funds raised by Moglix to $220 Million. Accel Partners, Jungle Ventures and Venture Highway have been the earliest investors in the company. Moglix has in-subsequent rounds received investments from leading global venture capital funds such as Tiger Global, Sequoia Capital India, International Finance Corporation and Composite Capital among others. Mr. Ratan Tata, Chairman emeritus, Tata Sons had invested in the start-up in 2016. Leaders from the start-up and manufacturing communities such as Mr. Kalyan Krishnamurthy, CEO Flipkart, Mr. Vikrampati Singhania, MD, JK Fenner and Mr. Shailesh Rao, Ex-Google have been investors in Moglix.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

NutryFarm Ventures Into Singapore’s Durian Market with Established Singapore E-Commerce Company, Ebuy

Singapore, May 12, 2021 – (ACN Newswire) – The Board of Directors (the "Board") of NutryFarm International Limited (the "Company', and together with its subsidiaries, the "Group") wishes to announce that Global Agricapital Holdings Pte. Ltd. ("Global Agricapital"), a wholly-owned subsidiary of the Company, had on 11 May 2021 entered into a memorandum of understanding with EBuy Pte Ltd ("Ebuy") to expand its durian business activities in Singapore (the "MOU").

Under the MOU, Ebuy will import and distribute pre-packaged durians into Singapore from Malaysia and Thailand on behalf of Global Agricapital, and from the suppliers of Global Agricapital. Global Agricapital will ensure the consistent supply, quality and authenticity of the pre-packaged durians from its suppliers.

The parties expect to start the first shipment by 1 June 2021.

Established as an e-commerce company in Singapore since 2013, Ebuy is a leading distributor of fresh produce in Singapore, including daily fresh vegetables and fruits, to food service providers, retailers, restaurants and hotels. Ebuy has 13 refrigerated warehouses in 3 locations with 16 trucks.

Since December 2020, Nutryfarm has announced various agreements to sell a total of 1,480 containers of fresh durians from Thailand to major Chinese fruit importers. The total contract value of these agreements is estimated at approximately RMB 962.0 million as announced on 13 February 2021.

The Company would like to refer to the announcements on 28 December 2020 and 8, 18 and 29 January 2021, and 5 February 2021 ("Previous Announcements"), in respect of the wholesale trading of fruits through Global Agricapital. The affected risks involved under this MOU are substantially less than that
of the contracts disclosed under the Previous Announcements, and are not anticipated to be significant.

The Company is intending to seek shareholders' approval for a proposed diversification of the Group's core business in view of the Group's intention to build these capabilities. The Company has submitted the circular for SGX approval on 16 February 2021 and is intending to convene a general meeting to seek shareholders' approval as soon as practicable.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Don Muang Tollway (SET:DMT) begins stock trading on SET

BANGKOK, May 7, 2021 – (ACN Newswire) – Don Muang Tollway PCL (SET:DMT), an experienced transportation infrastructure management company and an operator of the Uttraphimuk Elevated Toll Road or Don Muang Tollway, will begin its trading on the Stock Exchange of Thailand (SET) on May 7, 2021. With expertise in managing a toll road business for over 30 years, the company is looking for new investment opportunities and aiming to become a leader in developing and managing transportation infrastructure projects in Thailand, creating sustainable growth and ensure steady returns for its shareholders in the long term.

Mr. Tarnin Phanichewa, Managing Director of Don Muang Tollway, reports that the company will begin trading its shares on the Stock Exchange of Thailand (SET) on May 7, 2021, under the Transportation and Logistics sector with the symbol of DMT.

DMT has been well preparing on business expansion plans to take advantage of public private partnership opportunities, allowing private sectors to participate in infrastructure development projects with the government. Leveraging on its strengths and having more than 30 years of experience in managing Don Muang Tollway, the company is in a good position to participate in the 20-year Intercity Motorway Development Master Plan envisioned by the Department of Highways. Besides, the company is interested in the non-toll businesses such as highway rest area projects.

Part of the fundraising proceeds will be used for the debt repayment in order to be a debt-free company, reducing financial burden and strengthening the company's financial position. The business expansion plans together with its strong financial position will boost sustainable growth and ensure good returns for shareholders in the long run.

"I would like to thank you all investors for trusting in DMT. We are determined to become a leading player in the development and management of transportation infrastructures in Thailand. With our over 30-year experience and expertise in the business, we believe that we will play an important role in improving Thailand's competitiveness by creating high-quality transportation infrastructures and transportation network, and at the same time we also believe that DMT will be able to achieve stable growth and decent rate of returns to our shareholders," Mr. Tarnin says.

Mr. Varah Sucharitakul, Executive Director of Finansa Securities Limited, as the sole lead underwriter, says DMT's IPO received very warm welcome from investors. IPO fundraising proceeds will definitely strengthen the company's financial status and enable DMT to be the debt-free company. With DMT's dividend policy having the payout ratio of not less than 90% of net profit after the capital reserve as required by law, we believe that the investors will receive stable and attractive returns.

On top of that, investors will benefit from the public private partnership opportunities allowing DMT to selectively participate and invest in various projects under the 20-year Intercity Motorway Development Master Plan under the responsibility of the Department of Highways, he adds.

Mr. Worawas Wassanont, Managing Director of Avantgarde Capital Co., Ltd., as the financial advisor, says DMT's stock will be in the spotlight from the investors because of its strong business fundamentals and its expertise in transportation infrastructures. By utilizing modern technologies on the traffic management, the operation of the Don Muang Tollway has become more efficient as well as be ready for the 24 hours to ensure prompt services to the Tollway users and for the increasing number of Tollway users which are expected to be the normal level after the end of COVID-19 pandemic.

DMT is also leveraging on its knowledge and experience to expand its businesses, enhancing decent returns to all shareholders, he says.

For more information, please contact:
Tasanun Chuiklom (Noo), E: tasanun.c@tollway.co.th, Don Muang Tollway PCL
Pipop Khongwong (Top), E: pipop.k@mtmultimedia.com, MT Multimedia Co., Ltd.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

The Place Holdings’ Land Site at Mount Yuntai Tourism Township Revalued at RMB 481 Million, a Substantial Increment in Value of 329%

Singapore, May 6, 2021 – (ACN Newswire) – The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), an SGX mainboard-listed company with a primary focus on integrating traditional businesses and new growth opportunities in the digital economy, is pleased to announce that the land site, held by its subsidiary Tianjie Yuntai Wanrun (Xiuwu) Property Development Co., Ltd. ("Tianjie Yuntai Wanrun"), has been assessed and revalued at RMB 481 million by one of China's leading valuation companies, WorldUnion Property Assessment Co., Ltd.

Main Entrance

Villas

Majestic Mountainous Backdrop

Ancillary Facilities

Compared to the valuation of the land site of RMB 112 million as at 30 September 2020, the revaluation of RMB 481 million after the change in zoning represents a substantial increment in value of RMB 369 million, which is an increase of 329% from RMB 112 million.

The size of the land site is approximately 270,500.64 square metres. It is strategically located within Mount Yuntai Tourist Township, where hospitality properties, wellness resorts, integrated retail and commercial developments and theme parks are been planned and some are currently under development.

The revaluation of RMB 481 million of the land site is primarily based on the change in zoning from commercial to residential and it also take into consideration the increase in land-use rights assigned to the land from its existing 40 years to 70 years, larger buyer group and as well as the current developments and completed infrastructure surrounding the area.

Mount Yuntai Tourist Township is located at the entrance of Mount Yuntai, which is approximately 70km from Zhengzhou City, the provincial capital of Henan Province in the PRC.

Highly accessible and connected via various transportation networks, Mount Yuntai Tourist Township is just a 20 minutes ride from Jiaozuo high-speed rail station and a 45 minutes drive from Zhengzhou International Airport.

Mount Yuntai is a tourist site with the highest "AAAAA" rating under the Tourism Attraction Rating Categories of China. Mount Yuntai is also listed as one of the National Parks of China and as a geological park in the Global Geoparks by the United Nations Educational, Scientific and Cultural Organization. In 2019, approximately 6 million visitors visited Mount Yuntai.(1)

Tourism has become an essential contributor to China's domestic economy and it is a cornerstone of the government's long-term goal to create a consumption-driven economy. The emergence of an affluent middle class and an easing of movement restrictions for locals and foreign visitors are both supporting this domestic travel boom.

According to China's Ministry of Culture and Tourism, travelers made 102 million domestic trips during the annual holiday (over an extended three-day weekend) in April 2021. The figure was 94.5% of the number of trips made during the holiday in 2019, the year before COVID-19 hit.(2)

Under the leadership of Executive Chairman, Mr Ji Zenghe and Chief Executive Officer, Mr Fan Xianyong and combined with their deep property development experience and long-standing business track record, The Place Holdings has established a business model that integrates omni-channel strategies and innovative business concepts (such as "new-retail" solutions, last mile logistics, immersive virtual reality technology, enterprise intelligent connectivity) within its 3 core business pillars that include property, cultural tourism and integrated media-related businesses to create new value propositions.

Mr Ji Zenghe, Executive Chairman of The Place Holdings, said, "While China's giant middle-class continue to grow rapidly, the hectic lifestyles of Chinese consumers have spurred significant opportunities in the tourism and wellness industries.

In addition, the COVID-19 pandemic has created pent-up demand for travel and cultural immersion activities in China.

With Mount Yuntai's strategic location that is within an hour's drive from a catchment zone of nearly 40 million people, the substantial increment in value of our land site from the revaluation highlights the underlying value and strong prospects of Mount Yuntai Tourist Township.

Integrating new digital solutions with traditional property development approach, there is strong potential for us to create new value propositions with our land site that caters to the demand for quality accommodations at Mount Yuntai."

(1) http://travel.ce.cn/gdtj/202011/03/t20201103_7290941.shtml
(2) s.nikkei.com/2QYfAk7

This document is to be read in conjunction with The Place Holdings' exchange filings on 5 May 2021, which can be downloaded via www.sgx.com.

About The Place Holdings Limited (SGX Code: E27)

Listed on the Mainboard of the Singapore Exchange, The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), focuses on integrating traditional businesses with omni-channel strategies and digital solutions (such as "new-retail" solutions, last mile logistics, immersive virtual reality technology, enterprise intelligent connectivity) to harness new growth opportunities in the digital economy.

The Group has established a strong business platform to create new value propositions within its 3 core business pillars:

1. Property development and property management activities
2. Cultural tourism and related "new retail" businesses
3. Integrated media-related businesses with management & operation rights

The Group is backed by the key management team of The Place Investment Group, a multi-billion PRC conglomerate that has a strong track record for its extensive business portfolio in tourism, media, property management, biomedical technology investments and international trade.

Embolden with a new business approach and forward-looking corporate culture, The Place Holdings is expanding its business presence with high growth businesses in Singapore and China through organic and inorganic initiatives.

For additional information, please visit www.theplaceholdings.com

Issued on behalf of The Place Holdings Limited by 8PR Asia Pte Ltd.

For further information, please contact the following:

Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Mr. Zhang Wei
IR Director
The Place Holdings Limited
Tel: (65) 6781 8156
Fax: (65) 6781 8159
Email: zhangwei@theplaceholdings.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Corporate Boards Worldwide Navigating Governance Challenges, HKIoD Shares Findings of Global Director Survey 2020-2021

HONG KONG, May 6, 2021 – (ACN Newswire) – A global research on board governance during the Covid-19 crisis indicated that two-thirds of company directors reported an increase of time commitment by 50 percent or more.

The Hong Kong Institute of Directors ("HKIoD") shares the 2020-2021 Survey Report of the Global Network of Director Institutes ("GNDI"), which analyses survey responses fielded in the second half-year of 2020 from a diverse pool of nearly 2,000 directors from 17 director institutes worldwide. HKIoD is a member institute of GNDI, an international alliance of leading director institutes representing more than 150,000 corporate board members.

Chairman of HKIoD Dr Christopher To noted, "This GNDI Survey Report provides timely snapshots of how boards worldwide are navigating the economic and social impacts of the Covid-19 crisis. How our fellow directors recalibrated their board foci and strategies generated good references not just for now but also for the foreseeable future, as the impacts of Covid-19 will linger for some time. Globally directors must act and have acted quickly in changing. This crisis poses opportunity to rethink, revalue, restructure, restart and rebound,"

Highlights of global key findings

Outlined below are highlights of the report's key findings:
— Directors gave high marks to themselves and their management teams. Many credited prior scenario planning that provides a good foundation for an effective response to the Covid-19 crisis.
— There will be an increased emphasis on risks in 2021 and beyond. The crisis will likely have the most significant long-term impact on how boards engage on strategy and risk and assess employee health and safety.
— Virtual board meetings work, but they are second best. Virtual board meetings are here to stay.

Challenges and responses

While the GNDI Survey Report publishes Global Aggregates, HKIoD has prepared a supplementary paper, which places side by side the findings for significant issues in Global Aggregates, Asia & Oceania Subset ("A&O") and Hong Kong Subset. The comparison presents findings in Hong Kong ranking order, for readers with interest in the Hong Kong scenarios vis-a-vis regionally and globally.

The top challenge perceived from the Covid-19 crisis was "recalibrating strategies to the new market or environment" (HK: 61%, A&O: 61%, Global: 56%). This is followed by "ensuring effective governance in decisions affecting employees, investors, customers, suppliers and communities" and "responding to changing government policies and guidelines".

As to how boards responded to the Covid-19 crisis, the top answer was "our board has been able to govern effectively in the new environment" (HK: 80%, A&O: 84%, Global: 89%). Many boards have established ad-hoc or special crisis committee as "a valuable component of the board's crisis response plan".

Compared to directors of other places, Hong Kong directors seem to have outperformed in identifying mobility restrictions and pandemic risk as "top risk on the board's risk dashboard 12 months ago". This is probably due to prior experiences in the 2003 SARS and the 2019 social unrest. On challenges posed by the crisis, Hong Kong directors placed a higher ranking than other directors in "approving or making decisions quickly" as an important challenge to be addressed and therefore attributed higher emphasis to "ensuring the quality of decision making on fast-moving issues" as an area of governance with long-term impact.

The topmost challenge by far in adapting to meetings in a virtual setting was "losing nonverbal communication between directors" (HK: 61%, A&O: 64%, Global: 68%). This was followed by the challenge from technological problems disrupting the meeting.

CEO of HKIoD Dr Carlye Tsui, who is also a member of the GNDI Executive Committee, remarked, "Globally, directors were confronted with the need to master technology in adapting to virtual meetings. This may be a wake-up call for them to enhance their digital readiness. Measures in meeting the challenges in the Covid-19 crisis are to a great extent related to digital transformation. Digital readiness can react to transformation better; a board that is digital enlightened leads digital transformation in a faster speed."

Long-term impacts

On areas of governance perceived to be affected in the long term, many boards would proceed with "incorporating a new set of broader risks in scenario planning". Boards would work on "ensuring the ongoing health and safety of employees".

Perceived by the directors surveyed, there is likelihood of change in the long-term trajectory of trends. The respondents anticipated "increased focus on ESG, sustainability and stakeholder value issues" (HK: 75%, A&O: 71%, Global: 67%). They also predicted "slowing down of globalization through increased protectionism". They placed importance on "incorporating data analytics" and "incorporating expertise of outside experts" into the board decision-making process. Other trends perceived to pick up momentum included "increased board diversity", "the emergence of professional director", "increased competition for talent" and "increased corporate repurposing".

Dr To further remarked, "We must continue to be braced for severe business hardship. We must learn from the past experiences and ride on the transformation of business mode."

Lessons learned and going forward

From the survey, the lessons learned included "digital board engagement as a helpful tool for board operations moving forward" (HK: 82%, A&O: 87%, Global: 89%). The respondents indicated that their board would "incorporate a broader set of risks into the information dashboard of the board", "ensure greater communication with a broader set of stakeholders" and "increase director education on factors identified as barriers to the organisation's Covid-19 response", among other things.

Dr Tsui added, "A competent director must pursue continuing professional development. The survey findings provide HKIoD with useful reference for enhancing education to facilitate directors in the new normal."

HKIoD promotes excellence in director practices through its annual major project of Directors Of The Year Awards, honouring role models among individual directors and the collective boards. Continuing in its 21st anniversary, the awards project this year takes on the theme "Leading in New Normal". Nominations for the awards are open to the public.

The full report of the GNDI Global Survey 2020-2021 [http://www.hkiod.com/gndisurvey2020.pdf] and the HKIoD supplementary paper [http://www.hkiod.com/gndisurvey2020/sup.pdf] are available for download free of charge. Nominations of candidates for Directors Of The Year Awards 2021 [http:www.hkiod.com/dya-current.html] are welcomed.

About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors ("HKIoD") is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. HKIoD is a member institute of the Global Network of Director Institutes, a worldwide alliance of leading director institutes.
http://www.hkiod.com
Tel: (852) 2889 9986
Fax: (852) 2889 9982

About The Global Network of Director Institutes
GNDI is an alliance of leading director institutes from around the world. A global programme of reciprocity helps directors and their boards to unlock access to director resources around the world. GNDI comprises 22 member institutes including HKIoD, representing over 150,000 directors and other governance professionals around the globe.
http://www.gndi.org

Media Enquiries:
The Hong Kong Institute of Directors
Joanne Yam +852 2889 1414/joanne.yam@hkiod.com
Odessa So +852 2889 4988/odessa.so@hkiod.com

Strategic Public Relations Group Limited
Brenda Chan +852 2114 4396/brenda.chan@sprg.com.hk
Chak Yau +852 2114 4395/chak.yau@sprg.com.hk

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HKTDC’s Start-up Fiesta kick-starts today

HONG KONG, May 5, 2021 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) today announced the launch of the inaugural Hong Kong Start-up Fiesta campaign that will run in May and June. Comprising a full range of activities organised by the HKTDC and other organisations, the aim of the campaign is to support and foster the local start-up eco-system and help innovative new companies capture business opportunities amid the challenges of the pandemic.

Speaking at today's ceremony to mark the launch of the Hong Kong Start-up Fiesta campaign, HKTDC Assistant Executive Director Stephen Liang said the HKTDC will work with different organisations to co-create a series of start-up-focused activities in May and June.

Stephen Liang, Assistant Executive Director, HKTDC (front row, second from right), Jason Chiu, Chairman, Hong Kong Start-up Council (front row, from right) and Mark Lo, CEO, AMTD (front row, from left) took a group photo with the 10 selected scale-ups for the Start-up Express Master League, including Contact Beverage, CYC Motor, Film Players, Gense Technologies, Incus, Koofy Development Limited, MAD Gaze, Return Helper, MedEXO Robotics and Miscato.

MAD Gaze employs mixed reality (MR), virtual reality (VR) and augmented reality (AR) to produce the next generation of smart eyewear.

The number of start-ups in Hong Kong has more than doubled over the past six years, surging from 1,558 in 2015 to 3,360 in 2020. In order to empower local start-ups, the HKTDC will work with different organisations for Start-up Fiesta, including Cyberport, Hong Kong Science and Technology Parks, InvestHK, universities and the start-up community, to co-create about 20 different start-up-focused activities. Anchored by the Start-up Express Master League and annual Start-up Express Pitching Final, the campaign also features a series of booster workshops, mentorship programmes and networking events.

Speaking at today's opening ceremony, HKTDC Assistant Executive Director Stephen Liang said the HKTDC would continue its commitment to supporting entrepreneurs in expanding their businesses, in addition to promoting the city's capabilities in innovation and technology. "The COVID-19 pandemic has had a big impact on the global economy, which means start-ups need our help more than ever. Giving start-ups the chance to use their creativity to explore business opportunities will help them continue to grow during this challenging time. The debut Start-up Fiesta campaign enlists the support of different organisations in the ecosystem, co-creating an array of activities to promote local entrepreneurship."

Start-up Express Master League promotes local scale-ups

The Start-up Fiesta kicked off with the Start-up Express Master League, which aims to encourage and support local entrepreneurs, selecting programme alumni that have demonstrated the most vigorous business growth since joining the cohort. The selected scale-ups will be granted an extra year of marketing support from the programme to help them build their brands.

The 10 scale-ups joining the Start-up Express Master League were selected based on their business resilience, growth and expansion strategy. They include Contact Beverage, CYC Motor, Film Players, Gense Technologies, Incus, Koofy Development Limited, MAD Gaze, Return Helper, MedEXO Robotics and Miscato.

At today's opening ceremony, the companies shared their experiences in overcoming obstacles and working to achieve breakthroughs during the pandemic. Among them, Contact Beverage has combined technology with traditional wisdom to produce the Lify smart beverage device. Using the Internet of Things, big data and smart mobile technologies, Lify aims to provide natural remedies and beverages in the simplest and most effective way. The company is also looking to launch its innovation in overseas markets with the help of networking and promotional activities organised by the HKTDC.

Another start-up, Incus, has developed disruptive source separation technology that can separate different human voices in complex environments with real-time processing. MAD Gaze is smart glasses company employing mixed reality (MR), virtual reality (VR) and augmented reality (AR) technologies to create the next generation of eyewear. The company recently launched its latest smart glasses model, which allows users to experience the benefits of AR, and has successfully expanded its global footprint with the HKTDC's support.

The winning scale-ups in the Start-up Express Master League will be able to join a range of local and international activities and events, exploring networking opportunities with potential investors, buyers and business partners. They can also participate in exhibitions and conferences organised by the HKTDC in Hong Kong that have a dedicated start-up zone, such as the Asian Financial Forum, the Hong Kong Electronics Fair (Spring & Autumn Editions) and the Hong Kong International Medical and Healthcare Fair. Moreover, they will also have the opportunity to join the Hong Kong Pavilion at international exhibitions such as the Consumer Electronics Show (CES) in Las Vegas in the United States and the Mobile World Congress (MWC) event in Barcelona, Spain, to broaden their connections and experience.

Fourth Start-up Express helps start-ups to grow

Start-up Express, a start-up development programme launched by the HKTDC, is returning for its fourth edition to assist local start-ups in building connections, exploring markets, seeking partners and developing brand awareness. Applications are invited until 12 May and the programme will culminate in the Pitching Final on 29 June, with the winners given the opportunity to join local and overseas trade promotions and activities organised by the HKTDC, as well as exhibit at international start-up events to expand their business networks.

"Start-up Express has been giving tremendous support to local start-ups over the past three years, helping them explore global markets, seal major orders and win international awards, assisting them in growing their businesses to the next level. With the global economy severely impacted by the pandemic, it is harder than ever for start-ups to find funding and business partners, making it all the more important to assist them in promoting their innovative technologies to corporations," Mr Liang said.

The shortlisted start-ups in last year's Start-up Express mainly focused on areas such as artificial intelligence, big data, biotech, the Internet of Things, fintech and robotics. In 2021, more new technologies are explored, including augmented reality, virtual reality, green tech, health tech and retail tech. In recent years, environmental, social, and governance (ESG) criteria have become increasingly important among venture capitalists and corporations, so the Social Impact Award has been established to recognised innovative and ground-breaking start-up ideas that create real social impact.

Holistic support for start-ups

Co-organised with the Hong Kong Startup Council, Enterprise Connect: Solution Day will be held in mid-June and invites start-ups in medtech, food tech and wellness tech to present their ideas under the theme "Well Being Tech", pitching to business users and fostering collaboration between start-ups and user enterprises. Co-organised with The Hong Kong Federation of Youth Groups, the Young Founders' Camp equips young entrepreneurs via brainstorming workshops and mentorship sessions, offering a testing ground for them to implement their start-up ideas through HKTDC-organised events such as SmartBiz Expo and Entrepreneur Day. Meanwhile, the success stories of various Start-up Express alumni will be brought together in the Start-up Express Digital Book: A Journey to Success.

Partner organisations of the Start-up Fiesta, including W-Hub, Entrelink, Advantage Austria, Junior Achievement Hong Kong and more, will organise various seminars and workshops to provide networking opportunities to support local start-ups.

Attracting investors

The AMTD Group is the Sole Strategic Partner of Start-up Express for the third consecutive year. Calvin Choi, Chairman of the Board of Directors and Chief Executive Officer of AMTD Group, Founding Chairman of the Greater Bay Young Entrepreneurs Association ("GBYEA"), Vice Chairman of Greater Bay Area Homeland Youth Community Foundation and the Vice President of China Young Entrepreneurs Association believes that core values and fundamental business models for start-ups must be solid, sustainable and resilient. Accordingly, there will be opportunities available for the more ready start-ups no matter during good times or bad times, and even during extreme situations such as the COVID pandemic, as long as the entrepreneurs have clear vision and strategy to navigate beyond status quo to rise up as a winner in due course.

"The global economy has been severely affected by the pandemic, and inevitably this has also impacted the investment sentiment. This makes it even more crucial for founders of start-ups to embrace developments and visions beyond the current points in time but into a sustainable long term future," Mr Choi shared his perspectives, given that the AMTD Group has invested in many start-ups around the world, paying close attention to factors such as the comprehensiveness of business solutions, cross-region and cross-platform features, growth trajectory, sustainability, scalability and the team's vision and resilience.

Websites
– Hong Kong Start-up Fiesta: https://hkstartupfiesta.hktdc.com
– Start-up Express: http://info.hktdc.com/startupexpress/en/index.html
– HKTDC's media room: http://mediaroom.hktdc.com/en
– Photo download: https://bit.ly/3b3DP7s

Media enquiries
Please contact the HKTDC Communications & Public Affairs Department:
Christine Kam, Tel: +852 2584 4514, Email: christine.kam@hktdc.org

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com