Venturi Partners invests $25 million in DALI Discount, Philippines’ leading chain of discount grocery stores

SINGAPORE, Mar 26, 2024 – (ACN Newswire) – Venturi Partners (“Venturi”), a prominent growth equity firm specialising in consumer investments across India and Southeast Asia, today announced its recent investment in DALI Discount (“DALI”), a rapidly expanding hard discount chain operating in the Philippines. The investment will further accelerate DALI’s ambitious expansion plans to fulfill its mission to sell high-quality, affordable groceries of everyday consumption at lowest possible price in its local neighborhood stores.

Founded in 2020, DALI has quickly established itself as #1 discounter in the Philippines’ retail landscape offering a core range of the 400 most needed consumer goods – food and non-food. Known for its commitment to everyday low prices for its carefully curated selection of quality essentials, DALI offers significant value to customers seeking to stretch their grocery budgets without sacrificing quality but also to those just buying smarter. DALI vision is to improve daily lives of all Filipino households by providing good quality product at lowest possible price next door.

Venturi Partners’ $25 million investment in DALI underscores the firm’s confidence in the company’s hard discounter business model, strong management team, and the large market opportunity to disrupt the retail landscape in the Philippines. Leveraging its deep consumer industry expertise and extensive network, Venturi is well-positioned to support DALI in accelerating its expansion initiatives, enhancing operational efficiency, and further strengthening its market presence across the Philippines.

Investing out of its $180 million maiden fund, Venturi joins Navegar, Creador, the Asian Development Bank and other institutional investors and family offices on DALI’s cap table. “We are thrilled to announce our partnership with DALI, a company that is democratising access to high quality groceries in the Philippines,” said Nicholas Cator, Founding Partner at Venturi. “DALI’s commitment to maximising value for its customers aligns seamlessly with our consumer-first investment philosophy, and we see tremendous potential for the company to expand its reach and improve the lives of even more households across the Philippines.”

The transaction represents Venturi’s second investment in the Philippines, following its investment in Pickup Coffee last year, a fast-growing grab-and-go coffee chain that provides high-quality coffee at disruptively low-price points.

DALI will join Venturi Partners’ portfolio of consumer-focused investments in India and Southeast Asia which includes Livspace, Country Delight, Believe, and Pickup Coffee.

About Venturi Partners

Founded in 2019 by veteran consumer investor Nicholas Cator, Venturi Partners is an Asia-focused investment platform that enables consumer-facing business startups to build disruptive brands in India and Southeast Asia. The firm provides growth funding to customer-centric, purpose-driven brands in India and Southeast Asia, with a focus on education, healthcare, and fast-moving consumer goods, which have a shared desire to create a positive impact on the world. Venturi has built a unique investment platform for families wanting to participate in the long-term consumer growth trends in Asia. The platform is built around shared values and long-term partnerships and aims to bring operational value-add to entrepreneurs building tomorrow’s leading brands in Asia.

Media Contact:
Namrata.sharma@adfactorspr.com
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W Capital Markets Partners with VCI Global to Offer Comprehensive Capital Markets Strategy Services to List Clients on the NASDAQ

SINGAPORE, Mar 25, 2024 – (ACN Newswire) – W Capital Markets Pte. Ltd. (“W Capital”) has entered into a collaboration agreement with VCI Global Limited (NASDAQ: VCIG) (“VCI Global”), for the purpose of introducing prospective clients to one another.

VCI Global is a diversified holding company which primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. VCI Global also invest, incubate, accelerate, and commercialize businesses and technologies in AI, robotics, and gamification.

Under this collaboration agreement, VCI Global will introduce clients, to W Capital, who may have an interest in the investment banking services offered by W Capital and will collaborate with W Capital to jointly advise clients with interest in seeking initial public offering listings on the stock exchanges in the United States, particularly the Nasdaq Capital Markets.

“We are confident that this collaboration will create significant value for our clients who intend to seek a listing on the Nasdaq Capital Markets by providing them with access to the combined expertise and resources of W Capital and VCI Global to help them navigate the IPO process successfully. Furthermore, clients introduced by VCI Global will gain access to our full suite of bespoke investment banking services, including M&A and trade sale advisory and private equity growth capital fund raising, and clients may also be able to tap into pre-IPO funding provided by W Capital Private Equity VCC, an associate of W Capital which invests in small to mid-cap companies from Series B to Pre-IPO stage, to bridge their funding needs prior to their planned IPO” said Wayne Lee, Chairman and Chief Executive Officer of W Capital.

“This collaboration will enable both parties to leverage on each other’s strength. In the case of VCI Global, this collaboration will enlarge our pool of potential clients seeking to be listed in the United States, which undoubtedly will further increase our earnings into the medium term at the very least. Of course, we are pleased to be able to reciprocate W Capital’ actions by passing clients to them with interest in investment banking services,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

About W Capital Markets Pte. Ltd.

W Capital is a holder of the Capital Markets Services (“CMS”) licence issued by the Monetary Authority of Singapore to conduct the regulated activities of “Advising on Corporate Finance” and “Dealing in Capital Market Products that are Securities and units in a Collective Investment Scheme” and is an accredited IPO Mainboard Issue Manager and Catalist Full Sponsor authorised by the SGX. W Capital provides a full suite of bespoke investment banking services, including M&As, IPOs, Pre-IPO & secondary fund raising and financial advisory, with a focus on mid-cap companies (S$50 million to S$1 billion enterprise value) in the Asia Pacific region.

For more information on W Capital, please visit our website at https://www.wcapitalmarkets.com.sg.

Media Contact:
For media queries relating to this press release, please contact:
Vicki ZHOU / LEE Ke Wei
zhouyan@financialpr.com.sg / kewei@financialpr.com.sg

Verofax, Briding exports to EU with compliance solutions for Egyptian exporters

CAIRO, Feb 15, 2024 – (ACN Newswire) – The Egyptian Businessmen Association held a public symposium headed by Engineer Majd al-Din al-Manzalawi, Secretary-General and Chairman of the Association’s Industry and Scientific Research Committee, a meeting with Wassim Merheby, an expert in the field of technology and artificial intelligence, and in the presence of Dr. Hossam Ezz al-Din, Director General of the Industrial Pollution Control Program at the Ministry of Environment, and with the participation of a number of heads. The association’s specialized committees include Engineer Mustafa Al-Najari, Chairman of the Agriculture and Irrigation Committee, Dr. Mohamed Hilal, Chairman of the Energy Committee, Hussein Lotfy, Chairman of the Environment Committee, and a number of deputy chairmen of the committees, and members of the association who work in the industrial, agricultural, and export sectors.

Discussions at the symposium centered on the requirements outlined in the Carbon Border Adjustment Mechanism (CBAM) law, emphasizing the urgent need for Egyptian exports to align with green economy principles. Key topics included the integration of automated quality data aggregation across supply chains to streamline compliance processes, accessing financing opportunities from leading European institutions, and enhancing industry performance to support a sustainable economy in Egypt.

Highlighting the timeline for compliance, Wassim Merheby, CEO of Verofax, announced that the new system for exporting to the European market would commence registration on January 1, 2025, with full implementation slated for January 2026. He urged Egyptian factories to swiftly adapt to the new international legislation to avoid export bans and 35% hefty tariffs.

The symposium also shed light on the importance of automating compliance processes for exporting factories to meet carbon footprint standards efficiently, giving Egyptian exporters the confidence to deliver high-quality and validated data ensuring long-term partnerships with the EU. This automation is facilitated through a comprehensive lifecycle assessment solution integrating with over 130 systems, ensuring seamless verification of recycled goods, emissions reduction, and quality data aggregation for seamless exports to the EU.

Hossam Ezz El-Din, Director General of the Industrial Pollution Reduction Program at the Ministry of Environment outlined the program’s aim to incentivize industries to adopt environmentally compliant and sustainable practices through financing packages of loans and grants, funded by the European Union.

Elaborating on the financing programs available, El-Din detailed the two types of programs, loans and grants, which the Central Bank of Egypt directed to local banks, including the Ibad program, which has a value of 135 million euros and will be completed at the end of this year, while the new program is called Green and will start in 2025. Its size is 268 million euros, and a period of allowance of one to two years, and repayment over 5 years. It also allows borrowing in foreign currency and repayment in Egyptian pounds.

The symposium concluded with a call for continued collaboration between government bodies, financing institutions, and industries to facilitate a smooth transition towards environmentally compatible production practices and ensure Egypt’s competitiveness in international markets

Based on: In a symposium on the impact of the carbon tax: the Egyptian Businessmen Association discusses the importance of technology in the compatibility of factories with export requirements to Europe, Elmahrousa News, retrieved on February 9th, 2024

About Verofax

Verofax is a blockchain-enabled Asset Digitization and Traceability solution provider helping industries automate data validation of their commodity exports to the EU. By integrating a lifecycle assessment solution that automates data aggregation across supply chains for seamless EU Carbon Border Compliance. Integrated with Microsoft IoT hub, validated on Azure Cloud and in compliance with the ISO 14064 /14067. Our patent computer vision prevents double counting and our digital passport on an immutable Ledger enables validated data for smooth exports to the EU.

Learn more about the automated lifecycle assessment solution at info@verofax.com. Visit Verofax at www.verofax.com

About Egyptian Businessmen Association

The Egyptian Businessmen Association (EBA) is a leading organization dedicated to advancing economic development, entrepreneurship, and sustainable business practices in Egypt. With a diverse membership representing various industries, the EBA serves as a catalyst for innovation, advocacy, and partnership-building to drive inclusive growth and prosperity.

The 17th Asian Financial Forum concludes successfully

The 17th AFF concluded today, attracting over 3,600 policymakers and business leaders from more than 50 countries and regions who actively joined vibrant discussions, fostering sustainable development and multilateral cooperation and showcasing Hong Kong’s vibrant economy, setting the stage for conferences and exhibitions in the new year
The Forum arranged over 700 one-on-one meetings, successfully connecting investors with project owners and exploring opportunities in various industries
The AFF facilitated the signing of MoUs and agreements, including the Comprehensive Avoidance of Double Taxation Agreement between Hong Kong and Croatia and Memorandum of Understanding between the Financial Services Development Council and Financial Sector Development Program of Saudi Arabia, deepening business collaborations
On-site polling during the Forum showed that most participants considered the digital economy (31.4%) and electric vehicles (26.1%) the most promising industries in Mainland China

HONG KONG, Jan 25, 2024 – (ACN Newswire) – The 17th Asian Financial Forum (AFF), jointly organised by the Hong Kong Special Administrative Region (HKSAR) Government and Hong Kong Trade Development Council (HKTDC), successfully concluded today, attracting over 3,600 financial and business elites from more than 50 countries and regions, including over 70 overseas and Mainland China delegations. The Forum showcased Hong Kong’s thriving economy as participants explored opportunities, accelerated sustainable development and multilateral cooperation and launched Hong Kong’s conferences for the year.

The event was marked by a vibrant atmosphere. Various segments – including the opening session, plenary discussions, policy dialogue, keynote luncheons and cocktail reception – were well attended. Leaders from around the world actively engaged in discussions.

In just two days, the Forum arranged over 700 one-on-one meetings, successfully connecting investors with project owners and exploring opportunities for industry and investment cooperation. After the Forum’s conclusion, participants will have the opportunity to continue discussions and meetings online from tomorrow until 30 January (Tuesday).

Over the two-day physical event, the AFF brought together more than 140 policymakers, international financial and multilateral organisation representatives, financial institutions and corporate leaders from around the world as speakers.

On the first day of the Forum, Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, addressed the keynote luncheon, affirming the importance of Hong Kong as an international financial centre. He said that global cooperation could help solve problems that were even beyond our reach. He believed Hong Kong could play a full role in sustainable development financing, an increasingly important area.

One of the highlights of this year’s AFF was the Plenary Session I – Charting the Path to a Shared Future, hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, bringing together financial officials from around the world to discuss economic challenges countries face. Julapun Amornvivat, Deputy Minister of Finance, Thailand, said: “The Asian Financial Forum is the place where both the public and private sectors can have honest discussions to find solutions to tackle major problems today and transform the economy for the future.” H.E. Dr Mohamed Maait, Minister of Finance, Egypt, mentioned that the world was grappling with rising geopolitical tensions and a lack of clarity about the future, weighing on the achievement of sustainable economic growth. To address global challenges, the world needed to deploy all efforts to coordinate economic policies on a multilateral scale.

On the second day, the Breakfast Panel focused on Unleashing the Dragon’s Currency: Navigating Renminbi Internationalisation on the Global Stage, allowing participants to delve into the renminbi’s growing use worldwide and trends in international demand. Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, addressed the Keynote Luncheon on the second day, which was moderated by Raymund Chao, Asia Pacific and China Chairman, PwC.

Global Spectrum, Dialogues for Tomorrow and Fireside Chat brought together pioneers from various industries to discuss a host of topical subjects, explored the latest Web 3.0 and virtual asset development, the future of fintech innovation, CIO Insights, green finance and opportunities in new markets. Speakers included Bob Prince, Co-Chief Investment Officer of Bridgewater Associates, Dr Ma Jun, Chairman and President, Hong Kong Green Finance Association (HKGFA), Guinandra (Andra) Jatikusumo, Group Director and Chief of Investments & Business Development of CT Corp, Darmawan Junaidi, President Director, Bank Mandiri, Yat Siu, Co-Founder and Executive Chairman, Animoca Brands, and more.

Understanding prospects for mainland industries, environmental economics

To gauge participants’ views on the global economic outlook this year, the Forum conducted on-site voting during panel discussions. For instance, at the Panel Discussion on Global Economic Outlook, participants were asked about the greatest threats or uncertainties to economic growth in the Asia-Pacific. Most attendees identified geopolitical fragmentation (66.7%) as the biggest challenge, followed by a slowdown in the recovery momentum in key economies (17.7%), persistent inflation (6%), a tightened monetary environment (4.2%), continued supply chain reshaping (3.6%) and other factors (1.8%).

In the newly introduced Panel Discussion on Stewarding China’s New Chapter, participants were asked about the most promising industries in Mainland China. The digital economy took top spot with 31.4%. Electric vehicles (26.1%) and renewable energy (18.8%) followed in second and third place, respectively. Advanced manufacturing (15.8%), other industries (4.2%) and electronic devices (3.2%) ranked subsequently.

Over 700 matching sessions held on-site, online platform continues to yield results

Through the years, the Forum has played a crucial role in deepening business and trade collaboration. AFF Deal-making, a global investment project-matching event jointly organised by the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA), was well received, facilitating over 700 one-on-one meetings, connecting funds and investment projects from around the world. The founder of one of the start-ups from Thailand said he had met 20 visitors with potential deals, ranging from a family office to a legal adviser. He also commented that the geographical diversity of the visitors at Deal-making was extensive, ranging from India to Europe and Japan. The deal-making session had presented valuable opportunities to find potential business partners.

This year’s AFF also facilitated the signing of various Memorandums of Understanding (MoUs) and Agreement. These included the Comprehensive Avoidance of Double Taxation Agreement between Hong Kong and Croatia and Memorandum of Understanding between the Financial Services Development Council and Financial Sector Development Program of Saudi Arabia.

The Forum also featured exhibition zones including the Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone, presenting innovative solutions from international financial institutions and introducing prospective unicorns from Hong Kong and around the world. The exhibition segment brought together over 140 exhibitors, including international financial institutions, technology companies, start-ups, investment promotion agencies, and sponsors, including knowledge partner PwC, along with HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International and Cyberport.

The 2024 International Financial Week (IFW) commenced on 24 January to create synergies, bringing together over 20 partner events. These events cover a many topics of global interest to the financial and business community. They include private equity investment, alternative investments, sustainable investments, family offices and women’s empowerment, among others. These events highlight the role of Hong Kong as an international financial centre.

To seize opportunities and promote the conference and event economy, the AFF collaborated with various organisations to arrange activities for participants beyond the Forum. These activities included free admission to the Hong Kong Palace Museum, Hong Kong’s iconic Aqua Luna red-sail junk boat, TramOramic tour and open-top Big Bus arranged by the Hong Kong Tourism Board. These experiences allowed forum guests to feel at home and appreciate the vibrancy and diversity of Hong Kong.

Furthermore, to provide overseas participants with a better understanding of the Guangdong-Hong Kong-Macao Greater Bay Area and the vast business opportunities within, organisers will lead a delegation to Shenzhen tomorrow (26 January), including corporate visits and exchange activities.

Websites
Asian Financial Forum: https://www.asianfinancialforum.com/aff/

Photos Download: https://bit.ly/3SvMXru

The 17th Asian Financial Forum, jointly organised by the HKSAR Government and the HKTDC, concluded successfully, attracting over 3,600 financial and business elites who actively participated in the event, creating a vibrant atmosphere for exchanges and showcasing Hong Kong’s thriving economy

Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, addressed the Keynote Luncheon on the first day

Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, delivered insightful remarks during the Keynote Luncheon on the second day

Bob Prince, Co-Chief Investment Officer of Bridgewater Associates, an investment veteran, shared his experience in leadership transfer, markets views and investment tactics in Mainland China

The AFF Deal-making, an investment project matchmaking event organised by the HKTDC and the HKVCA, drew strong interest, facilitating over 700 one-on-one meetings and connecting funds and investment projects from around the world, involving more than 270 investors and over 560 projects

Representatives from Hong Kong and Croatia sign the Comprehensive Avoidance of Double Taxation Agreement

The Financial Services Development Council and Financial Sector Development Program of Saudi Arabia sign their MoU

The cocktail reception on the first day invited Paul Chan, Financial Secretary of HKSAR; Dr Peter KN Lam, Chairman of the HKTDC and Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, HSBC, to deliver speeches, fostering lively exchanges among guests from around the world

Media enquires

Yuan Tung Financial Relations:
Anson Wong, Tel: (852) 3428 3413, Email: awong@yuantung.com.hk
Tiffany Leung, Tel: (852) 3428 2361, Email: tleung@yuantung.com.hk
Hing-fung Wong, Tel: (852) 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: (852) 2584 4525, Email: snowy.sn.chan@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC

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

17th Asian Financial Forum opens today

The 17th AFF, themed Multilateral Cooperation for a Shared Tomorrow, is taking place at the HKCEC for two consecutive days. It is expected to attract over 3,000 finance and business elites, including more than 70 delegations from overseas and Mainland China, boosting the convention and exhibition industry’s contribution to economic growth
The opening day of the Forum featured a keynote luncheon speech by Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network. He discussed how Responsible Capitalism will foster public-private partnerships and promote sustainable development
Finance ministers from various countries gathered in the Plenary Session I – Charting the Path to a Shared Future to share how they collaborate in addressing global economic issues within limited fiscal space and resilience. In Plenary Session II – Finance for Sustainability and The Role of Multilateralism, speakers delved into the impact of multilateral cooperation on regional economic development, financial standards and sustainable finance
Tomorrow’s Forum promises equal appeal, with a keynote speech by Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller, Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business. He will address prospects for multilateralism and modern finance

HONG KONG, Jan 24, 2024 – (ACN Newswire) – The 17th Asian Financial Forum 2024 (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), opened today at the Hong Kong Convention and Exhibition Centre (HKCEC). With the theme Multilateral Cooperation for a Shared Tomorrow, the two-day Forum serves as the first major financial and business event in the region for 2024. Over 130 finance officials, international financial and multilateral organisations, financial institutions and private-sector leaders from around the world gather in Hong Kong as speakers. They analyse global economic dynamics, promote collaboration among stakeholders, explore sustainable economic development models and identify opportunities for multilateral cooperation.

The Forum is expected to attract over 3,000 finance and business elites, including more than 70 delegations from Mainland China, Southeast Asia, Japan, Korea, the Middle East, Australia, Europe, and the United States. The Forum aims to showcase the vibrancy of Hong Kong and promote the convention and exhibition industry to participants from all over the world as an economic growth driver.

The Opening Session of the Forum featured opening remarks by John Lee, the Chief Executive of the HKSAR, special remarks by Li Yunze, Minister, National Financial Regulatory Administration (NFRA) and welcome remarks by Dr Peter KN Lam, Chairman of the HKTDC. Dr Lam said: “A year post-pandemic, what we all are seeking are opportunities to grow and transform and create a better world for future generations. Opportunities that can only come to fruition as a result of sustained multilateral cooperation. Themed ‘Multilateral Cooperation for a Shared Tomorrow’, the Forum brings together leading policymakers and industry players from the world of finance and business to engage in meaningful, forward-looking conversations and find ways to collaborate for success on today’s most pressing issues.”

The two-day Forum encompasses diverse events, including plenary sessions, policy dialogue, keynote luncheons and business networking opportunities. Through meetings and exhibitions, it delves into global economic outlook, opportunities in China, investment prospects, green finance, financial technology, the ecosystem of family offices, renminbi internationalisation and financial development in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). These hot topics comprehensively showcase Hong Kong’s advantages as an international financial centre.

Diverse speakers from the Middle East and ASEAN for plenary discussions

This year’s Forum focuses on exploring opportunities in Mainland China, the Middle East and ASEAN. One highlight was the Plenary Session I – Charting the Path to a Shared Future, hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR. The session brought together financial officials from around the world to share their countries’ outlook on financial policies for this year. The guest speakers included Ali bin Ahmad Al Kuwari, Minister of Finance of Qatar; Julapun Amornvivat, Deputy Minister of Finance of Thailand; Mohamed Maait, Minister of Finance of Egypt; Suahasil Nazara, Vice Minister of Finance of Indonesia; and Marko Primorac, Minister of Finance of Croatia.

Following that, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, hosted a Policy Dialogue session Towards International Economic and Financial Cooperation. The session discussed how to maintain financial system stability amidst changes in monetary policies, fluctuations in commodity prices and frequent extreme weather events. The guest speakers in this session included Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank; Lkhagvasuren Byadran, Governor of the Central Bank of Mongolia; Thomas Helbling, Deputy Director of the Asia and Pacific Department at the International Monetary Fund (IMF); Ian Johnston, Chief Executive of the Dubai Financial Services Authority; and Scott Morris, Vice President of the Asian Development Bank. They exchanged valuable insights on issues such as how to respond to global financial crises through multilateral cooperation.

Prof Sachs from the UN analysed responsible capitalism

The Keynote Luncheon on the first day heard welcome remarks by Paul Chan, Financial Secretary of the HKSAR. This was followed by a keynote address from Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network. The speech explored how Responsible Capitalism could foster public-private partnerships and drive the economy towards sustainable development. Following Prof Sachs’ speech, Ronnie Chan, Chair of Hang Lung Properties Limited, moderated a discussion session.

Financial and business leaders discuss global economy, cooperation opportunities

The afternoon session began with the Panel Discussion on Global Economic Outlook, moderated by Victor Fung, Chairman of Fung Investments. The panel included esteemed speakers such as Lorenzo Bini Smaghi, Chairman of Société Générale; Jenny Johnson, President and Chief Executive Officer of Franklin Templeton; Chartsiri Sophonpanich, President of Bangkok Bank Public Company Limited; and José Viñals, Group Chairman of Standard Chartered plc. They shared insightful perspectives on prospects for the global economy and future policy directions.

The afternoon session continued with Plenary Session II – Finance for Sustainability and The Role of Multilateralism, once again hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR. The panel featured Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank; Alexandra Jour-Schroeder, Deputy Director-General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission; Hala El Said, Minister of Planning and Economic Development of Egypt; and Dilma Rousseff, President of the New Development Bank. They delved into such topics as the impact of nearshoring, rising protectionism and multilateral cooperation on regional economic development, financial standards and sustainable financial development.

Empowering global economic integration by unleashing China’s potential

The Panel Discussion on Stewarding China’s New Chapter debuted this year, aiming to explore the potential of Mainland China’s market and analyse the role and advantages of Hong Kong under strategic initiatives launched by the mainland. The session was moderated by Fan Gang, President of the China Development Institute, and featured prominent figures from the financial and business sectors who are well-versed in Chinese market trends. They shared insights on how businesses worldwide could seize opportunities presented by the rapid development in Mainland China. The guest speakers included Jan Craps, CEO & Co-Chair of Budweiser APAC and APAC CEO AB InBev; Fang Feng-lei, Founder and Chairman of Hopu Investments; Liu Yang, Chairperson and Chief Investment Officer of Atlantis Investment Management; Jung-Ho Rhee, Vice Chairman of Mirae Asset Securities; and Anil Wadhwani, Chief Executive Officer of Prudential plc.

The first day of the Forum also heard the results of a joint market survey by the HKTDC and Knowledge Partner PwC on the financial industry’s views on application of artificial intelligence. Raymund Chao, Chairman of PwC Asia Pacific and China, pointed out during the Forum that the survey revealed a growing prevalence of AI applications in financial services. Survey findings emphasised the importance for the industry of seizing opportunities and harnessing the developmental potential of AI more effectively.

Thematic sessions discussed topics trending across the world, covering the global economic outlook, impact of sustainability on insurance and capital markets, as well as collaborative opportunities in asset and wealth management. Additionally, Global Spectrum, Dialogues for Tomorrow, and Fireside Chat sessions brought together pioneers from different industries to delve into current hot topics such as next-generation entrepreneurship, cybersecurity, food supply and Islamic finance.

Unlocking investment opportunities with over 400 projects at AFF Deal-making

To facilitate substantial cooperation, the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA) are co-organising AFF Deal-making. This platform enables participants to engage in one-on-one meetings, connecting them with funds and investment projects from around the world. The event focuses on key industries such as financial technology, environment, energy and clean technology, medical technology, deep technology and food and agriculture. This year’s AFF Deal-making has attracted over 200 investors and more than 400 projects. Following conclusion of the Forum tomorrow, participants can use the deal-making online platform for virtual meetings until 30 January (Tuesday) to continue exploring key opportunities in different fields.

Creating business connections through multiple exhibition zones

The Forum continues to feature exhibition zones including Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone which bring together over 100 exhibitors, including local and global financial institutions, technology companies, start-ups, investment promotion agencies and sponsors. Participants include knowledge partner PwC, along with HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International and Cyberport.

The Global Investment Zone features participation from countries and regions including Canada, Dubai, Egypt, Finland, Kuwait, Luxembourg, Mainland China, Malaysia, Mauritius, Portugal, Spain and the UAE. Investment promotion agencies introduce local investment environments and potential projects on-site. The InnoVenture Salon is dedicated to supporting start-up development and provides a platform for more than 100 start-ups to connect with international investors and potential partners. At the FintechHK Startup Salon 60 enterprises from Hong Kong, Australia, Austria, France, Japan, Korea, the Mainland, Singapore, Thailand, the United States and Vietnam showcase innovative concepts in areas such as AI, blockchain, insurtech, payment technology, regulatory technology and wealthtech.

Momentum continues at key sessions tomorrow

AFF continues tomorrow with rich content, including diverse thematic discussion sessions and workshops that comprehensively analyse trends in capital markets, RMB internationalisation, philanthropy, green smart cities, financial technology, healthcare investments and more. A highlight will be the lunch session where Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller, Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, will deliver a keynote speech on multilateral cooperation, deconstructing the phenomenon of global geopolitical fragmentation.

A highly anticipated session is the Dialogue with Bob Prince, featuring Mr Prince, Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund. He will share his investment insights and views on multilateral cooperation. Another new session, CIO Insights, will also take place tomorrow morning, bringing together chief investment officers from internationally renowned institutions to share their experiences in guiding asset allocation and investment decisions during economic uncertainty. Other featured AFF guests tomorrow include Susan Chan, Senior Managing Director, Head of Asia Pacific, Head of Investments, Asia Pacific of BlackRock; René Buehlmann, Chief Executive Officer, Investments of abrdn plc; Janet Perumal, Senior Managing Director, Wellington Management Company; and Min-Lan Tan, Head of Chief Investment Office APAC of UBS AG.

To allow overseas participants to experience the vibrant colours of Hong Kong and promote the conference and exhibition economy, the organisers have collaborated with several organisations to offer exclusive experiential activities for those visiting Hong Kong, including free admission to the Hong Kong Palace Museum, Hong Kong’s iconic Aqua Luna red-sail junk boat, TramOramic tour, and open-top Big Bus arranged by the Hong Kong Tourism Board. In addition, they can enjoy dining discounts at various restaurants and special offers at local tourist attractions, as well as participate in guided tours.

Photos Download: https://bit.ly/428McIg

The 17th Asian Financial Forum kicked off today at the HKCEC. The Forum runs for two consecutive days under the theme Multilateral Cooperation for a Shared Tomorrow

John Lee, Chief Executive of the HKSAR, delivered opening remarks

Dr Peter KN Lam, Chairman of the HKTDC, delivered welcome remarks

Li Yunze, Minister of National Financial Regulatory Administration (NFRA) delivered the special remarks in the Opening Session

Paul Chan, Financial Secretary of the HKSAR, participated in the Keynote Luncheon of the first day Forum and delivered the welcome remarks

Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, delivered the keynote address

Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR (left), hosted two Plenary Sessions at this year’s AFF

This year’s AFF Deal-making has attracted over 200 investors and more than 400 projects. Following conclusion of the Forum tomorrow, participants can use the deal-making online platform for virtual meetings until 30 January (Tuesday) to continue exploring key opportunities in different fields

Websites
Asian Financial Forum: https://www.asianfinancialforum.com/aff/
Programme: https://www.asianfinancialforum.com/conference/aff/en/programme
Speaker List: https://www.asianfinancialforum.com/conference/aff/en/speakers

Media enquires

HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: (852) 2584 4525, Email: snowy.sn.chan@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC

Asian Financial Forum (AFF) returns to explore collaborations

The 17th AFF will take place on 24 and 25 January, with active participation of over 3,000 financial experts and leaders from across the globe
Themed Multilateral Cooperation for a Shared Tomorrow, AFF aims to analyse the global economic outlook for the new year, and promote collaboration among countries and governments to achieve sustainability and seize emerging opportunities
The Forum will gather more than a hundred global business leaders as speakers, including representatives from Société Générale, Franklin Templeton, Gobi Partners, HOPU Investments, HSBC Asset Management, Bridgewater Associates, Prudential plc, and Standard Chartered
Plenary sessions will be expanded from one to two, along with two new discussion sessions on Stewarding China’s New Chapter and CIO Insights. The forum will focus on opportunities in Mainland China, ASEAN and the Middle East
The Dialogue with Bob Prince has been added to this year’s AFF on the second day. Mr Prince is Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund

HONG KONG, Jan 11, 2024 – (ACN Newswire) – The 17th Asian Financial Forum 2024 (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), is set to take place on 24 and 25 January 2024 (Wednesday and Thursday) at the Hong Kong Convention and Exhibition Centre (HKCEC). This year’s AFF, themed Multilateral Cooperation for a Shared Tomorrow, will be the first significant financial and business event in the region this year, bringing together over a hundred speakers, influential figures in the financial industry, global policymakers and business leaders. Speakers will thoroughly analyse the global economic outlook, actively promote collaboration in accordance with the policies of national and HKSAR governments, explore sustainable economic development models and collectively identify the abundant opportunities for multilateral cooperation. The Forum is expected to draw over 3,000 elite professionals from financial and business sectors, to facilitate fruitful exchanges and strengthen ties among industry leaders.

Luanne Lim, Chairperson of the AFF 2024 Steering Committee and HSBC’s Chief Executive Officer, Hong Kong, said: “The year 2024 is expected to be characterised by a slowdown in inflation and potential rate cuts. The focus of markets will be on the timing and extent of policy easing, as well as elections in multiple countries and regions. In these complex times, the Asian Financial Forum serves as a valuable platform for exchanging diverse perspectives and supporting multilateral cooperation. The collective wisdom of experts speaking at the AFF will give the participants a deeper understanding, enabling them to make well-informed decisions in the year ahead.”

Dr Patrick Lau, Deputy Executive Director, HKTDC, said: “Amidst global uncertainties and geopolitical tensions, accompanied by various challenges, new market opportunities and partners are emerging. To build a sustainable and inclusive development model, close communication and cooperation among nations are crucial. With the theme Multilateral Cooperation for a Shared Tomorrow, this year’s AFF will explore economic policies and multilateral cooperation opportunities among governments and governments (G2G), governments and businesses (G2B) and businesses and businesses (B2B) from multiple angles. It will also address a range of timely market-related issues, further promoting sustainable development and showcasing the advantages of Hong Kong as an international financial centre.”

This year’s Forum will encompass diverse events, including over 40 thematic discussions, policy dialogue, keynote luncheons and breakfast panel, and workshops. These sessions will explore pressing topics such as the global economic outlook, opportunities in Mainland China, investment prospects, green finance, financial technology and interest-rate trends. Their objective is to provide participants with valuable insights into internationally relevant issues and global economic development trends. These events will boost Hong Kong’s ties with the international community, fostering greater connections and generating more business opportunities.

ASEAN, Middle East market opportunities take centre stage as thematic discussions expand

ASEAN and the Middle East, with their considerable economic potential, hold crucial position in driving global multilateral cooperation. This year’s Forum has garnered enthusiastic responses, and a surge in participation from ASEAN, the Middle East and other parts of the globe is expected. To facilitate broader discussions and embrace sustainable economic development, the Plenary Sessions have been expanded from one to two, enabling financial leaders from ASEAN, the Middle East and other regions to convene and deliberate on future fiscal policy trends. Topics of significant focus will include the opportunities in the mainland, ASEAN and the Middle East.

On the first day of the AFF (24 January), Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, will preside over two Plenary Sessions. At the morning Plenary esteemed speakers including Ali bin Ahmad Alkuwari, Minister of Finance of Qatar; Julapun Amornvivat, Deputy Minister of Finance of Thailand; Mohamed Maait, Minister of Finance of Egypt; and Marko Primorac, Minister of Finance of Croatia, will share their countries’ respective outlooks on financial policies. At the afternoon Plenary, distinguished speakers including Muhammad Al Jasser, President of the Islamic Development Bank; Prof Hala Elsaid, Minister of Planning and Economic Development of Egypt; Alexandra Jour-Schroeder, Deputy Director-General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission; Suahasil Nazara Vice Minister of Finance, Indonesia and Dilma Rousseff, President of New Development Bank, will analyse the influence of multilateral cooperation on regional economic development, financial crises and sustainable economic growth.

On the same day Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will host the Policy Dialogue where esteemed representatives from the Asian Development Bank, Central Bank of Mongolia, Deutsche Bundesbank, Dubai Financial Services Authority, and International Monetary Fund will convene under the theme Towards International Economic and Financial Cooperation to exchange perspectives on global monetary policies.

Global leaders and Nobel laureates take the stage at keynote luncheon sessions

Another noteworthy aspect of the Forum will be two Keynote Luncheons featuring esteemed guests. Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, and Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller, Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, have been invited to deliver insightful speeches. Prof Sachs will delve into the topic of sustainable development, while Prof Diamond will discuss the future trajectory of United States Federal Reserve interest rate moves and the risks associated with economic development.

Dialogue with Bob Prince added as a special session

An additional session, Dialogue with Bob Prince, has been added to this year’s AFF on the second day. Mr Prince, Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund, will appear to share valuable investment insights and provide perspectives on the importance of multilateral cooperation.

Staying ahead of market trends with Stewarding China’s New Chapter and CIO Insights

In response to dynamic market opportunities and evolving industry trends, this year’s AFF will introduce Stewarding China’s New Chapter and CIO Insights, closely aligned with market conditions. The session Stewarding China’s New Chapter seeks to explore the mainland market potential and analyse collaborative prospects with other regions, underscoring the role and advantages of Hong Kong. CIO Insights will bring together chief investment officers from renowned international institutions to share unique perspectives on the investment landscape within the current macroeconomic environment. The HKTDC and Knowledge Partner PwC will also present the findings of a joint survey on the industry’s views and outlook on artificial intelligence. The results of this survey will be announced on the first day of the Forum.

The highly anticipated Global Economic Outlook, Global Spectrum, Dialogues for Tomorrow, and Fireside Chat sessions will return, covering topics such as asset and wealth management, insurance and risk management, multilateral capital market cooperation, food technology and supply chain security, financial technology, RMB internationalisation, financial technology, Web 3 and virtual assets, impact investing, and financial cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Islamic finance. Prominent speakers include Lorenzo Bini Smaghi, Chairman of Société Générale; Fang Feng-lei, Founder and Chairman of HOPU Investments; Jenny Johnson, President and Chief Executive Officer of Franklin Templeton; Nicolas Moreau, Global Chief Executive Officer of HSBC Asset Management; Thomas Tsao, Co-Founder of Gobi Partners; Anil Wadhwani, Chief Executive Officer of Prudential plc etc.

AFF Deal-making and exhibition connect investors and start-ups, driving innovation

To facilitate more substantial cooperation, the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA) are co-organising the AFF Deal-making. This platform enables participants to engage in one-on-one meetings, connecting them with funds and investment projects from around the world. The event will focus on key industries such as financial technology, environment, energy and clean technology, medical technology, deep technology and consumer goods. This year’s AFF Deal-making is expected to attract about 200 investors and approximately 400 projects. Following the conclusion of the Forum, participants can utilize online matching services for virtual meetings until 30 January (Tuesday) to continue exploring key opportunities in different fields.

The Forum continues to feature exhibition zones including Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone to introduce cutting-edge applications of financial technology and showcase future unicorn innovation concepts. The exhibition zones are expected to bring together over 140 local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner PwC, HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International, Cyberport and more.

The Global Investment Zone includes participation from countries such as Canada, Dubai, Egypt, Finland, Kuwait, Luxembourg, Mainland China, Malaysia, Mauritius, Portugal and Spain. Investment promotion agencies from these countries will introduce local investment environments and potential projects on-site. The InnoVenture Salon is dedicated to supporting start-up development and provides a platform for more than 100 start-ups to connect with international investors and potential partners, of which 60 fintech start-ups from Hong Kong, Australia, Austria, France, Japan, Korea, the Mainland, Singapore, Thailand, the United States and Vietnam under the FintechHK Startup Salon will showcase innovative concepts in areas such as AI, blockchain, insurtech, payment technology, regulatory technology, and wealthtech.

Exclusive offers for AFF participants

As the first major financial and business event in the region for the year, the AFF is committed to telling the good story of Hong Kong and promoting large-scale events or exhibitions. Organisers have arranged experiential activities for overseas participants, including one-time privileged access to the airport lounge, free admission to the Hong Kong Palace Museum, 1-hour night tour of Hong Kong aboard an open-top Big Bus or Hong Kong’s iconic Aqua Luna red-sail junk boat arranged by the Hong Kong Tourism Board. Furthermore, participation in the Standard Chartered Hong Kong Marathon 2024, dining discounts and guided tours by the Lan Kwai Fong Group, dining discounts at Harbour City and Times Square, and discounted passes for Hong Kong attractions through Klook will be available. These initiatives aim to provide overseas visitors with a firsthand experience of the vibrant colours, rich culture and dynamic lifestyle that Hong Kong has to offer.

Members of the media interested in interviewing speakers at the Asian Financial Forum can email awong@yuantung.com.hk or tleung@yuantung.com.hk by 16 January 2024.

Photos Download: https://bit.ly/3SnNqfD

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, of HSBC (second from right); Patrick Lau, Deputy Executive Director of the HKTDC (second from left); Loretta Fong, Mainland China and Hong Kong Sustainability Deputy Leader, PwC Hong Kong (first from left); and Amy Lo, Chairman, Executive Committee, Private Wealth Management Association (first from right) held a press conference today to introduce the programme and speaker’s line-up for the 17th Asian Financial Forum.

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, HSBC

Patrick Lau, Deputy Executive Director of the HKTDC

Loretta Fong, Mainland China and Hong Kong Sustainability Deputy Leader, PwC Hong Kong

Amy Lo, Chairman, Executive Committee, Private Wealth Management Association

Media enquires

HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: (852) 2584 4525, Email: snowy.sn.chan@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC

Global leaders and Nobel laureate attend AFF 2024

HONG KONG, Dec 19, 2023 – (ACN Newswire) – Asian Financial Forum 2024 (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) government and the Hong Kong Trade Development Council (HKTDC), will shed light on the importance of fostering sustainable multilateral cooperation while capitalising on Hong Kong’s strengths as an international financial centre under the current global economic landscape.

Themed Multilateral Cooperation for a Shared Tomorrow, the 17th AFF is scheduled to take place on 24 and 25 January 2024 (Wednesday and Thursday) at the Hong Kong Convention and Exhibition Centre (HKCEC). The first large-scale international financial and business event of 2024 in the region, the forum brings together over a hundred financial heavyweights, global policymakers and business leaders to discuss such topics as the global economic outlook, opportunities in Mainland China, investment prospects, green finance, financial technology and multilateral cooperation opportunities.

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, of HSBC, said: “The theme of the upcoming AFF is Multilateral Cooperation for a Shared Tomorrow. The importance of fostering multilateral cooperation cannot be overstated, as it paves the way for sustainable and inclusive growth in our interconnected world. AFF aims to bring together influential speakers and thought leaders from across the globe to facilitate exchanges between nations and regions. Together, we will explore the challenges and opportunities faced by the financial industry in supporting economic development.”

Economist analyses global cooperation and sustainable economic development

AFF’s keynote luncheons have always been a highlight and this year Prof Jeffrey D Sachs, President of United Nations (UN) Sustainable Development Solutions Network, will share his insights. A polymath who focuses on sustainable development, Prof Sachs is a reservoir of knowledge on international debt and financial crises, national economic reforms, extreme poverty, global climate change, pandemic prevention and control and many other socioeconomic matters.

From 2001 to 2018, he served as a special adviser to three UN secretaries-general. Prof Sachs was awarded the 2022 Tang Prize in Sustainable Development and the 2015 Blue Planet Prize. During the first keynote luncheon on 24 January, he will explore the post-pandemic global economic environment, analyse the latest recovery trends and emphasise the crucial role of global cooperation in sustainable development.

Nobel laureate addresses recession risks

The second keynote luncheon on 25 January will hear from Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at University of Chicago’s Booth School of Business. Recipient of the Onassis Prize in Finance in 2018, Prof Diamond is a leading authority on bank runs and liquidity crises, earning him the title “father of modern banking theory”. He also served as the president of the American Finance Association and has taught as a visiting professor at the Hong Kong University of Science and Technology.

Given the uncertain economic outlook and increasing geopolitical risks in several regions, Prof Diamond will discuss likely interest rate moves by the United States Federal Reserve as well as risks of future economic recessions and measures to address structural financial crises.

Introducing Stewarding China’s New Chapter and CIO Insights

In response to ever-changing dynamics in the global economy and investment appetite, this year’s AFF will introduce discussion sessions in accordance with market opportunities and industry trends. These sessions aimed at analysing the business opportunities presented to enterprises in emerging markets such as ASEAN and the Middle East. Stewarding China’s New Chapter and CIO Insights will be newly introduced in this year’s AFF. As China is one of the largest engines of global growth, the newly introduced session, Stewarding China’s New Chapter will analyse links with other regions and discuss the role and advantages of Hong Kong. Another new addition is CIO Insights, which will bring together renowned international institutions’ investment leaders to share unique perspectives in the investment field. The sessions will also discuss asset allocation when the investment outlook is uncertain and examine current investment trends in the macroeconomic landscape. The popular Global Economic Outlook, Dialogues for Tomorrow and Fireside Chat, will also be back, covering topics including asset and wealth management, insurance and risk management, RMB Internationalisation, multilateral capital market cooperation, food technology and supply chain security, financial technology, influential investment and financial cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and various financial, economic, social trends, and global issues.

AFF Deal-making connects funds and investment projects

Over the years, the AFF Deal-Flow co-organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association has arranged more than 9,000 meetings for over 6,300 enterprises, including project owners and investors. The highly successful event has allowed participants to connect with funds and investment projects from around the world in such key industries as fintech, environment, energy and environmental technology, medical technology, deep technology and consumer goods. The coming AFF Deal-making will be held in physical form during the Forum, then online until 30 January (Tuesday), providing investors and project owners with more time to connect and explore collaboration opportunities.

The featured exhibition zones – Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone – will display next-generation financial concepts, start-up development and global investment opportunities, respectively. The exhibition segment is expected to bring together over a hundred local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner PwC, HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International, Cyberport and more.

Stellar lineup of themed discussions focus on Middle East and ASEAN

At AFF, engaging discussion sessions and workshops over the two days will include plenary sessions, policy dialogues, keynote luncheon and breakfast panels and thematic workshops. Esteemed financial officials, international financial and multilateral organisations, financial institutions and corporate decision-makers from a diverse range of countries will grace the Forum to identify valuable opportunities while addressing pressing global issues. The forum will feature a stellar lineup of themed discussions and policy dialogues, attracting finance ministers from the Middle East, ASEAN and around the world as well as senior executives from multilateral organisations and international financial institutions.

Launch 2024 with AFF

As the premier financial and business event in the region in 2024, AFF aims to help industry professionals seize opportunities and create more room for cooperation while promoting Hong Kong.

Early bird registration is now open for participants.

AFF has also collaborated with a number of organisations to provide special travel, dining and shopping discounts and privileges for overseas participants, encouraging them to make the most of their stay and experience the vitality of Hong Kong. Further details on event content, complete speaker lineup and media registration arrangements will be announced at a press conference in mid-January.

Members of the media interested in interviewing speakers at the Asian Financial Forum can email awong@yuantung.com.hk or tleung@yuantung.com.hk by 16 January 2023.

Photos Download: https://bit.ly/3GN43dR

Asian Financial Forum 2024, organised by the HKSAR Government and the HKTDC, will be held on 24 and 25 January 2024 (Wednesday and Thursday) at the Hong Kong Convention and Exhibition Centre, under the theme Multilateral Cooperation for a Shared Tomorrow. The picture shows scenes from the Forum in 2023.

During the keynote luncheon on the first day of the Forum (24 January), Prof Jeffrey D Sachs, President of United Nations Sustainable Development Solutions Network, will explore the post-pandemic global economic environment, analyse the latest recovery trends, and emphasise the crucial role of global cooperation in sustainable development.

The keynote luncheon on the second day of the Forum (25 January) will feature a keynote speech by Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at University of Chicago’s Booth School of Business, discussing prospects for interest-rate moves by the United States Federal Reserve and economic recession risks, and delve into measures to address structural financial crises.

After the forum, AFF Deal-making participants can continue with online matchmaking and meetings that will last three days until 30 January (Tuesday). This will allow investors and project owners more time to connect and negotiate investment deals and collaborations. The picture shows scenes from the Forum in 2023.

Luanne Lim (left), Chairwoman of the AFF Steering Committee and Chief Executive, Hong Kong, of HSBC and Patrick Lau (right), Deputy Executive Director of the HKTDC

Media enquires
HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: (852) 2584 4525, Email: snowy.sn.chan@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC

Legend Capital Portfolio Company ZKH Lists on the New York Stock Exchange Successfully

HONG KONG, Dec 19, 2023 – (ACN Newswire) – On the evening of December 15th, Beijing time, Legend Capital’s portfolio company, ZKH Group Limited (“ZKH”) (NYSE: ZKH), was officially listed on the New York Stock Exchange.

ZKH is a leading maintenance, repair and operations (“MRO”) procurement service platform in China. The company provides one-stop MRO procurement and management services for its customers and offers digital and fulfilment solutions for participants along the industry value chain.

ZKH offers a broad range of MRO products covering all major MRO product lines and over 17 million SKUs. The company’s product lines can be broadly divided into five categories: spare parts, chemicals, manufacturing parts, general consumables, and office supplies, which consist of 32 product lines available on its platform. It has established long-term cooperation with more than 60,000 advanced manufacturing customers. At present, ZKH has 30 distribution centers and 96 transit warehouses, continuing the dedication to building a nationwide fulfilment network to deliver last-mile delivery services for customers.

Legend Capital co-led ZKH’s Series C financing in 2018 and made additional investments in the company’s subsequent financing rounds in 2019 and 2020. After the investment, Legend Capital has kept giving support and assistance to the company in multiple aspects, including business resource introduction, corporate strategy, follow-up financing and listing-related work.

Legend Capital stated: “After years of development, ZKH has demonstrated competitive strengths in the industry based on its differentiated capabilities, including one-stop supply chain capabilities covering all major product categories and procurement channels, delivery capabilities characterized by distributed warehousing and instant delivery, and service capabilities featuring online/offline products and advantageous product lines. At the same time, the company has an efficient and highly capable team consisting of outstanding talents in multiple fields, including industrial products, e-commerce, and logistics, and the management team, led by the founder of the company, Mr. CHEN Long, has also demonstrated strong resource integration capabilities. The approval for listing has reflected the resilience of ZKH’s business development. Congratulations!”

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital.

The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.

For further information, please contact:

Ms. Orianna Ou / Ms. Arina He

Tel: +852 3468 8171

Email: legendcapital.list@everbloom.com.cn

Verofax is among the Top UAE Future100 to Positively Impact the Nation’s Future Economy!

DUBAI, UAE, Dec 14, 2023 – (ACN Newswire) – Verofax, a leading compliance and commerce SaaS solution provider, has earned distinction as one of the top Future100 pioneering startups, selected by the Ministry of Economy and the Ministry of State for Government Development and the Future. This recognition underscores Verofax’s pivotal role in contributing positively to the UAE’s economy and enhancing its preparedness for the future.

The prestigious unveiling of the Future100 took place at the Award Ceremony hosted at the Museum of the Future, symbolizing a momentous occasion in recognizing and celebrating innovation. Future 100 has recognized Verofax for its innovative technology in decarbonizing industries and boosting the competitiveness of the country’s Industrial sectors.

H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, said “We congratulate the 100 companies that successfully made it to the final stage of the initiative’s first edition to become the best 100 companies of the future, possessing pioneering capabilities for growth and healthy competition,” Al Marri added “ We believe this is a turning point that will enable these companies to achieve more sustainable commercial success and access to regional and global markets.”

H.E. Ohood bint Khalfan Al Roumi, UAE Minister of State for Government Development and the Future, said: “Future100 has uncovered numerous startups and scaleups venturing into new sectors, receiving over a thousand applications from various targeted sectors over three months.”

Over 45 evaluators and experts across different sectors evaluated the applications, conducting interviews with company officials using a predefined set of criteria. These criteria encompassed the capacity for innovative business models leveraging new technologies, the potential of the target market, the ability to engage key customers through a well-defined business plan supported by clear financial data, the feasibility of the business with a strategy for securing future financing, and consideration of the impact of environmental and social governance in both the UAE and global contexts.

Verofax’s automates compliance, traceability and verification

As more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across the supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.

Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on the interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling thresholds are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”

Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, and commodity provenance, prevents recycling double counting, across a tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.

About Future100

Future100 is a collaborative initiative between the Ministry of Economy and the GovernmentDevelopment and the Future Office, united in their mission to foster the growth of 100 pioneering startups pivotal to shaping the trajectory of the UAE’s future economy. This innovative initiative focuses on sectors of strategic importance, including space exploration, renewable energy, and emerging technology, with the overarching goal of establishing novel benchmarks for the country’s economic landscape. Beyond its immediate objectives, Future100 aspires to propel the UAE’s standing in global competitiveness, entrepreneurship, and investment rankings, thereby solidifying the nation’s position as a frontrunner in the ever-evolving landscape of innovation and economic dynamism.

About Verofax

Verofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.

For media inquiries, please contact:

Wassim Merheby, CEO, Verofax

Email: info@verofax.com

CEDEN Forms a Joint Venture With Josh McLean of Kanpai Studios to Acquire Raini Studios

ROAD TOWN, United British Virgin Islands, Dec 14, 2023 – (ACN Newswire) – CEDEN Network Ltd, in partnership with Kanpai Studios, has completed a total acquisition of Unicorn Interactive Limited DBA Raini Studios, a full-service Web3 gaming studio and publisher of The Lords of Light digital trading card game – which is one of the very few games in the digital collectibles space available on the Epic Games platform.

Bigger Team, Bigger Vision

RJV International DBA Raini Studios, the new BVI-based joint venture, will continue the legacy of Raini by growing and promoting The Lords of Light and the $RST ecosystem via new publishing channels, increased marketing focus, and an expanded development team. The new studio is set to expand the scope of the Raini ecosystem beyond a single title and the narrow niche of a crypto-centric gaming audience, with a second game already in an early development phase since the acquisition.

CEDEN Chief Executive Alex Moody will assume day-to-day operational leadership of the new studio, serving as Managing Director, with gaming industry legend Mike Haller serving as Head of Gaming. Haller is best known for anime film titles such as Akira and Ghost in the Shell, leading the teams that created titles such as Medal of Honor and Def Jam Vendetta at Dreamworks and EA and winning Fighting Game of The Year multiple times with his WCW and WWE titles at THQ. Haller will be leading the Raini development team in the production of the studio’s second game title.

The Rights to Fight: Having secured rights to one of the leading combat entertainment IPs in the world, this unannounced title draws on the extensive experience of the entire newly formed team, is already in production, and is slated to release in 2024.

“The Lords of Light is an incredible TCG with great balance, visual appeal, and replayability,” according to Haller, “and we look forward to continuing that legacy with The Lords of Light and growing the studio on a global stage with our next title.”

LayerZero:

Marty Burgess of Raini Studios said, “When implementing our new $RST token, we knew from the outset we wanted to work with LayerZero to enable a seamless cross-chain experience for the user, including cross-chain migration from $RAINI to $RST, and to enable future interoperability when new opportunities arose. Since then, we’re also testing a LayerZero [L0] proxy for all of our existing Collectable Cards and Collectable Packs, giving our community true ownership of their digital goods and a simple UX for moving assets wherever they want.”

Web3 Gaming

Josh McLean of Kanpai Studios said about the deal, “The gaming sector is clearly going to be the hottest space in the coming years. The opportunity to purchase an exceptional studio that I have been involved with already for years is a no-brainer. This deal opens doors for Kanpai Studios that were not previously explored and deepens our Web3 integrations while delivering direct value to panda holders. We can now significantly expand the entertainment offerings across the combat and culture space within the PPDEX in 2024 and beyond.”

Raini Studios’ debut title The Lords of Light was the first game to launch on Beam by Merit Circle, a gaming-centric subnet of the Avalanche blockchain. ”Raini Studios crafted a robust TCG and ecosystem. With the upcoming mobile version, we believe The Lords of Light is now ready for a wider audience. We’re thrilled about this acquisition, applauding their dedication to honor the existing ecosystem and their commitment to enhancing it with a new title. We are very excited to witness their joint development and marketing efforts,” said Marco van den Heuvel, co-founder and CGO at Merit Circle.

More details on the future of Raini Studios will be coming soon.

About Raini Studios: Raini Studios is a full-service Web3 gaming studio and publisher of The Lords of Light digital trading card game – which is one of the very few games in the digital collectibles space to be available on the Epic Games platform.

Play The Lords of Light • Purchase $RST • Website • Twitter • Telegram • Medium

About CEDEN Network Ltd: CEDEN is building an infrastructure ecosystem to revolutionize how interactive entertainment is created and distributed. This includes tools and support for independent creators to democratize content creation, as well as the CEDEN Network, a revolutionary Digital Collectible Node Network that decentralizes content delivery for gamers and creatives.

It’s time to move beyond the machine.

Website • Twitter • Discord • Medium

To learn more about Kanpai Studios, please email alex@ceden.network

Contact Information:
Alex Moody alex@ceden.network