Verofax to raise US$750,000 on Beban Crowdfunding Platform

BAHRAIN, Mar 5, 2023 – (ACN Newswire) – Verofax, the leader in brand marketing and AI-powered solutions for enterprise, was featured on Beban 2 (Episode 9, Mar 1, 2023), the hit entrepreneur & investment-themed reality TV program airing on Bahrain TV, Alrai TV and Dubai TV, as well as Shahid, the region's largest video-on-demand platform.

Wassim Merheby, CEO & Co-Founder, and Jamil Zablah, CMO & Co-Founder, Veromax, a product winning SaaS provider helping brands achieve growth by turning offline products interactive for immersive experiences & engagements.

One of the four Professional Investors to be pitched during episode 9, Khalid Almahfouz was clearly impressed with the Verofax story, encouraging them. "I can tell that we will celebrate Verofax as a Unicorn one day."

Beban Crowdfunding platform, for entrepreneurs to pitch retail investors. Wassim Merheby, Verofax CEO & entrepreneur, addressing Crowdfunding investors across the GCC, "We would like to become a leading tech company that started in the Middle East."

Verofax, winning award for ground-breaking Artificial Intelligence at LEAP Saudi Arabia (Feb 2023), announced setting-up in Ryadh, key 2023 growth market, with Saudi (MCIT) Tech Champions, a soft-landing accelerator powered by Plug and Play.

Beban is the world's first TV show to provide an interactive crowdfunding element – Beban Crowdfunding, a secure platform licensed and regulated by the Central Bank of Bahrain which offers retail and accredited investors a unique interactive access to private equity investment opportunities, such as Verofax.

GCC investors can participate in Verofax' US$750,000 fundraising round through the Beban Crowdfunding platform, with investments beginning as reasonably as $100. The new investors will be joining leading VC investors including 500 Startups, Dubai Angel Investors, Dubai Silicon Oasis, Benson Oak Ventures, Privity FZ LLE and Wami Capital.

An alumnus of government-sponsored programs MBRIF (Mohammed Bin Rashid Innovation Fund & Accelerator) and Hub71, the UAE-based Verofax is a growth-stage startup serving a diverse clientele including Fortune 100 brands and sustainable enterprise through operations in Europe, North America, Asia, Africa and the Middle East.

Verofax recently won the award for ground-breaking use of Artificial Intelligence at LEAP Saudi Arabia (Feb, 2023), and announced the setting-up of operations in Ryadh, a key growth market for 2023, with the Saudi Ministry of Communications and Information Technology (MCIT) Tech Champions, a soft-landing accelerator powered by Plug and Play.

Wassim Merheby, CEO of Verofax, said "Participating in the Beban program provided us with a platform to showcase our technology, and through the Beban Crowdfunding Platform, to offer retail investors an opportunity to invest in our solutions which disrupt online marketing, and deliver unmatched results to customers and amazing experiences to end consumers.

"Investors in Verofax will benefit from the potential disruption to online marketing, and turning the products into a brand's best marketing channel. At Verofax, our aim is to empower brands to connect with their customers in new and innovative ways," said Merheby.

Fatima Al Naqbi, Chief Innovation Officer at the Ministry of Finance and MBRIF representative, said: "We are thrilled to see such progress at Verofax, a company that we have proudly supported throughout its growth journey. Moreover, it's exciting to offer retail investors the chance to share in the growth of a dynamic company, transforming the online marketing industry through its innovative solutions.

"MBRIF is committed to accelerating innovation by providing startups with the necessary resources to achieve the goals of expansion and growth. Through our Accelerator program, we offer tailored support, paving the way for these companies to succeed. Our role in Verofax' journey is testament to our unwavering support of innovative and ambitious companies as they strive to impact the community. We look forward to continuing our support," said Ms Al Naqbi.

Verofax has developed a proprietary, patented AI-powered product winning service that provides enterprises with increased supply chain transparency, reduced operational cost, and enhanced customer engagement. By leveraging Verofax' award-winning, scalable technology with low-cost rapid deployment, businesses can begin to accrue benefits immediately with:

* MarTech solutions: Turning every product into an interactive direct communication channel to consumers, allowing brands to acquire and retain customers by providing relevant and personalized recommendations. By simply scanning unique identities on primary packaging, brands can convert the 60% of consumers that decide on a purchase in multi-branded stores while lowering acquisition costs by 20X vs. online marketing channels.

* Web3 rewards: helping brands to build lasting relationships with consumers and increase Customer Lifetime Values (CLTV) by adopting Web3 rewards such as brand NFTs that cost a fraction of loyalty programs.

* Retail and eCommerce virtualization: Delivering immersive and personalized shopping experiences with in-store Augmented Reality and 3D shopping experiences in e-commerce marketplaces, offering delight to 83% of consumers that expect an upgraded shopping experience vs. the current flick & click experience.

* Supply Chain transparency: providing brands with end-to-end inventory traceability to optimize availability and prevent price dilution. Counterfeiting and product diversion eats up to 30% of some industries, damaging brands' reputations and posing severe threats to public health.

* Sustainable passporting: Helping brands become sustainable by measuring and certifying their products across complex multi-tiered supply chains and engaging directly with consumers for loyalty and advocacy.

Verofax' solution is validated and available on partner platforms, including Oracle, Microsoft, Ant Group, Zebra, SAP and AWS. Discover the benefits of partnering with Verofax at www.verofax.com.

Investors interested in learning more about the fundraise and participating in Verofax' journey through the Beban Crowdfunding platform should visit the Beban website at www.beban.me, and refer to the Verofax crowdfunding page at www.beban.me/campaign/verofax-.

Contact Verofax, and register for social updates:

Website: https://verofax.com/contact-us/
Instagram: https://www.instagram.com/verofaxltd/
YouTube: https://www.youtube.com/@verofaxlimited8482
Promo Video: https://youtu.be/tmekYUuRDjI
FaceBook: https://www.facebook.com/verofax
TikTok: https://www.tiktok.com/@verofaxlimited
Twitter: https://twitter.com/VEROFAXLTD
LinkedIn: https://www.linkedin.com/company/verofax-limited/

About Verofax
Verofax is the leader in product digitization, providing innovative solutions that empower brands, retailers, and governments to secure supply chains and transform customer engagement. Utilizing latest technologies such as blockchain and AI, Verofax offers a comprehensive suite of tools, immersive omni-channel consumer engagement and compliance validation. By leveraging the Verofax solution, brands can ensure supply chains are compliant and sustainable and customers are engaged through every step of the product lifecycle. Please visit www.verofax.com.

About MBRIF Accelerator
The MBRIF Innovation Accelerator program focuses on innovation and cooperation and provides world-class services and training to founders to accelerate their business, raise capabilities and expertise, boost standards, and create added value. Its objectives are in line with the Dubai National Innovation Strategy as it aims to help innovative companies realize their potential and contribute to shaping the future of the national economy. Visit www.mbrif.ae.

For additional information, visit:
CB Insights: https://www.cbinsights.com/company/verofax
CrunchBase: https://www.crunchbase.com/organization/dhonor
StartUp Buffer: https://startupbuffer.com/startup/verofax-limited

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

Tanla Platforms unveils phishing protection platform Wisely ATP at Mobile World Congress, Barcelona 2023

P. D. Vaghela, Chairman, TRAI, launches Wisely ATP at Mobile World Congress 2023
Wisely ATP is an end-to-end solution aimed to combat the global challenge of SMS phishing
Single platform to bring together all critical stakeholders in digital communications ecosystem to protect the end users

Hyderabad/Barcelona, Feb 28, 2023 – (ACN Newswire) -Tanla Platforms Limited (NSE: TANLA; BSE:532790), India’s leading digital interactions company, today announced the launch of Wisely ATP – an innovative solution for protection against SMS phishing – at Mobile World Congress (MWC) Barcelona 2023. Wisely ATP is a one-stop platform to combat the challenge of SMS phishing comprehensively.

Phishing is a global challenge. With 4.7 billion internet users (nearly 60% of the global population) now spending nearly 7 hours online daily, the global economy continues to digitalize at an increasing rate – and crime is following quickly. According to the Global Anti Scam Alliance (GASA), online scams are now the most common type of crime, amounting to a loss of nearly USD 55 billion per year globally – 96% of Australians claim to have been exposed to an online scam in the last five years; 61% of French claim to have been exposed to “alternative investment offer” phishing attempt; 50% of UK citizens claim to have received a phishing email, SMS or social media message in one month.

India ranks among the largest markets for SMS phishing, with over 6 million citizens scammed annually and an estimated loss of nearly INR 15,000 Cr. The country’s growing mobile user base and low SMS rates have led to SMS phishing becoming one of the most prevalent forms of scam. Our analysis shows that over 5 billion SMS phishing attempts are made in India annually.

Despite the magnitude and criticality of the problem, no established solution currently exists to solve the phishing problem end-to-end. Current solutions are reactive, thus – unable to curb the issue comprehensively. Staying true to its track record of developing revolutionary products, Tanla is launching Wisely ATP to combat this issue. This once-in-a-generation product promises to reimagine the safety of digital communication channels.

Uday Reddy, Chief Executive Officer, Tanla

“Phishing has now become an organized industry: scammers are becoming faster and more sophisticated, consistently finding new ways and clever pretexts to get users to disclose sensitive information. The problem is real. The problem is huge. Now is not the time to experiment. To grow in this digital-first world, it is critical that enterprises urgently take steps to enhance customer safety and build trust. Wisely ATP is a first-of-its-kind revolutionary solution that acts as a single platform to solve the phishing problem end-to-end. It protects the user, disables the scam and eliminates the scammer. It enables brands to always be three steps ahead of the fraudster,” said Uday Reddy, Chief Executive Officer, Tanla.

Regulators across the globe are starting to realize the impact of phishing on society and are seeking solutions that can help mitigate this challenge. In India as well, the Telecom Regulatory Authority of India (TRAI) has been closely watching this space. It recently conducted a regulatory sandbox that successfully validated the effectiveness of Wisely ATP.

“TRAI was the first regulator to introduce blockchain-based DLT solution to curb the menace of spam. Tanla had been a key player in providing the solution. Last year, at our 25 years of TRAI celebration – we announced our focus on phishing problem in the country. I thank Tanla for again stepping up to solve this problem. I had an opportunity of seeing the solution today, and I am genuinely amazed by the initial insights. I commend the efforts by Tanla developers and their product team and I’am sure the product will be a major success in India and worldwide,” said Dr. P.D. Vaghela, Chairman TRAI

Building customer trust with cutting-edge offerings

As phishing events rise across the country, enterprises, telcos, and regulators, have been asking for technology-based solutions that make the digital ecosystem safer. Tanla is responding with Wisely ATP.

Built ground up at Tanla’s innovation and experience centre, this made-in-India solution leverages cutting-edge AI technology to combat phishing. Wisely ATP is a proprietary (patent pending) platform that can process over 1 trillion transactions annually in real-time with an accuracy of over 99%. It processes a transaction in <20 milliseconds, ensuring no impact on user experience. The platform addresses phishing end to end – from protecting the user to disabling the scam and eliminating the scammer.

Wisely ATP comprises of 3 modules:

Identification: Leveraging best-in-class Artificial Intelligence (AI) algorithms, Wisely ATP comprehensively detect phishing messages in real-time. This is enabled by four proprietary (patent pending) engines powered by large language models, natural language processing, web of trust and deep-learning algorithms
Prevention: Wisely ATP ensures messages identified as phishing are dropped from being delivered. Additionally, it can proactively sends warning alerts to users and generates actionable insights for the entire ecosystem
Elimination of root cause: Wisely ATP will provide evidence to all the ecosystem stakeholders (technology giants, law enforcement, regulators etc.) enabling them to eliminate the root cause of SMS phishing

Wisely ATP acts as a single thread connecting all critical stakeholders to deliver an end-to-end solution. It is powered by a global network of threat intelligence and is built 100% on the cloud – as a true SaaS platform enabling quick and easy global scalability.

“In this highly sophisticated and rapidly evolving phishing landscape, traditional solutions such as rule- based firewall deployments have proven to be ineffective. Before Wisely ATP, there was no real established solution. Wisely ATP is an AI-based solution to eliminate phishing completely. After identifying the scam, the Wisely ATP also helps eliminate fraudulent assets (such as fake URLs, WhatsApp accounts etc.) and provides evidence to apprehend the fraudster. It is a true end-to-end solution,” said Sunil Bajpai, Chief Trust Officer, Tanla.

What customers are saying about Wisely ATP HDFC Bank

“At HDFC Bank, we obsess over customer safety and security,” said Ravi Santhanam, Chief Marketing Officer. “With the rising threat of phishing in India, the bank has been raising customer awareness through two large public campaigns. Taking another step in this direction, we are delighted to partner with Tanla to curb phishing at the source and offer end-to-end protection to our customers.,” he added

About Tanla

Tanla transforms the way the world collaborates and communicates through innovative CPaaS solutions. Founded in 1999, it was the first company to develop and deploy A2P SMSC in India. Today, as one of the world’s largest CPaaS players, it processes more than 800 billion interactions annually and about 63% of India’s A2P SMS traffic is processed through Trubloq, making it the world’s largest Blockchain use case.

Wisely, our patented enterprise grade platform offers private, secure, and trusted experiences for enterprises and mobile carriers. Tanla Platforms Limited is headquartered in Hyderabad. Tanla is listed on two national exchanges, the NSE and BSE, (NSE: TANLA; BSE:532790) and included in prestigious indices such as the Nifty 500 and BSE 500, Nifty Digital Index, FTSE Russell and MSCI.

For additional information, please contact:
Ritu Mehta
Director- Investor relations
ritu.mehta@tanla.com

Chandra Sekhar. K
Head-Media relations
chandrasekhar.k@tanla.com

Safe Harbor

This document contains “forward-looking” statements, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, expectations of future operating results, market size and growth opportunities, the calculation of certain of our key assumptions relating to resolving future challenges operating metrics, estimated figures, plans for future operations, competitive position, technological capabilities, and strategic relationships, as well as assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quanti- fied. In some cases, you can identify forward-looking statements by terminology such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “plan,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” and variations of these terms or the negative of these terms and similar expressions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.

Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. We assume no obligation and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectations, except as required by law.

This document contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this document.

By receiving this document, you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business.

Any logos or trademarks (other than Tanla, Karix, Gamooga. Trubloq & Wisely) included herein are the property of the owners thereof and are used for reference purposes only.

Axonect Enterprise Enabler powers Axiata’s first metaverse concert in Sri Lanka and Indonesia

COLOMBO, LK, Feb 27, 2023 – (ACN Newswire) – Axiata Digital Labs (ADL), a telco-focused software and solutions provider, is pleased to announce its Axonect Enterprise Enabler delivered Axiata Group's first-ever immersive music concert: MetaStage powered by Dialog Futureverse, designed in association with GSMA Open Gateway APIs. Hosted by Sri Lanka's Dialog Axiata and Indonesia's XL Axiata as a proof-of-concept of GSMA's Open Gateway initiative, the concert showcased the opportunity for mobile operators to enhance existing services and deploy new services to their customers.

"We are delighted to have played a key role in powering Dialog MetaStage, the first metaverse concert in Sri Lanka," said Namal Jayathilake, Chief Technology Officer, Axiata Digital Labs. "Our Axonect Enterprise Enabler platform has once again demonstrated its potential as a powerful tool for digital innovation and transformation. We look forward to working with more mobile operators to bring new and exciting services to their customers."

Axonect Enterprise Enabler is a TM Forum ODA-compliant digital transformation platform that enables mobile operators to transform into Digital Telcos by seamlessly exposing mobile operator capabilities within a consistent federated and commercial framework via universal CAMARA APIs and TM Forum Open APIs.

"We are thrilled to have partnered with Axiata Digital Labs to bring new and exciting opportunities to our customers," said Viranga Seneviratne, Senior General Manager at Ideamart, Dialog Axiata. "The success of Dialog MetaStage is a testament to the power of collaboration and innovation, and we look forward to working with Axiata Digital Labs to continue pushing the boundaries of what's possible in the mobile industry."

"ADL's Axonect Enterprise Enabler platform has provided us with the tools we need to innovate and stay ahead of the curve in the mobile industry," said Yessie D Yosetya, Director & Chief Digital Transformation & Enterprise Business Officer, XL Axiata. "Together with ADL, we have been able to deliver a world-class concert experience to our customers, and we are excited to continue working together to develop new services and experiences that leverage the power of mobile technology."

The concert, held on February 17, featured Sri Lankan and Indonesian artists performing in front of a virtual audience (https://futureverse.dialog.lk). The Axonect Enterprise Enabler acted as the gateway for the concert orchestrating Open Gateway APIs and TM Forum APIs, enabling users from both countries to experience a customized concert.

Axiata Digital Labs will be at MWC Barcelona 2023 showcasing its Axonect Product Suite from 27 Feb to 02 March, Booth 7H17, Barcelona. Book a meeting at https://axonect.com/mobile-word-congress/.

About Axonect
Axonect is a robust, full-stack, product suite that supports rapid service delivery, improves agility, accelerates partnerships and transforms the enterprise landscape, seamlessly connecting northbound and southbound systems, allowing enterprises to be agile, digital service providers. Axonect products are built by the innovative engineering team at Axiata Digital Labs. Visit https://axonect.com.

About Axiata Digital Labs
Axiata Digital Labs (ADL) is an innovative software services and solutions provider, helping businesses globally advance in the digital era. Our convergent digital design experiences, innovative platforms and reusable assets connect numerous technologies to deliver tangible business value and experience. The technology hub of Axiata Group Bhd Malaysia, with 1300 professionals across Malaysia, Indonesia and Sri Lanka, ADL helps customers in telecom, digital & financial services. Visit https://axiatadigitallabs.com.

Media Contact:
Jamien Boulton
jamien@prwiresl.com

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

Director-General of Investment Promotion visits Bangkok to promote Hong Kong’s business opportunities

HONG KONG, Feb 20, 2023 – (ACN Newswire) – The Director-General of Investment Promotion at Invest Hong Kong (InvestHK), Mr Stephen Phillips, today (February 20) started his duty visit to Bangkok as part of the latest efforts to promote Hong Kong's business opportunities.

Mr Stephen Phillips

During the visit, Mr Phillips will meet with potential start-ups and companies from fintech, transport, infrastructure and advanced manufacturing, tourism and hospitality, and consumer products sectors to discuss their plans of setting up or expanding in Hong Kong. He will also speak at the panel discussion on "Digital FDI & Innovation" at the World Association of Investment Promotion Agencies Asia Pacific IPAs Investment Conference and host two briefings for Thai start-up communities with specific themes on the latest development and initiatives of virtual assets in Hong Kong and the vibrant start-up landscape and opportunities in the city respectively.

Mr Phillips said, "Hong Kong is the only place in the world where the global advantage and the China advantage come together in a single city. This unique convergence makes Hong Kong the irreplaceable connection between the Mainland and the rest of the world. The city is an ideal location for overseas and Mainland companies, as well as entrepreneurs from around the world, as a base to set up or expand their business in Hong Kong, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), China, and Asia more widely."

He added, "Hong Kong offers Thai companies a wide range of routes to growth opportunities. I look forward to sharing with representatives of companies and entrepreneurs the latest business environment in Hong Kong, and in particular, how they can use Hong Kong to seize opportunities, including those arising from the GBA."

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

Hong Kong Investment Promotion Chief visits Bangkok to promote Hong Kong’s business opportunities

HONG KONG, Feb 20, 2023 – (ACN Newswire) – The Director-General of Investment Promotion at Invest Hong Kong (InvestHK) of the Government of the Hong Kong Special Administrative Region of the People's Republic of China, Mr Stephen Phillips, today (February 20) started his duty visit to Bangkok as part of the latest efforts to promote Hong Kong's business opportunities.

Mr Stephen Phillips

SMEStreet Decoding Budget 2023 Webinar Showcased Key Takeaways for MSMEs in Union Budget 2023-24

Delhi, India, Feb 17, 2023 – (ACN Newswire) – SMEStreet Decoding Budget 2023 webinar was successfully conducted and participated by MSME finance experts. The Decoding Budget is an 9-year-old activity of SMEStreet. after every Union Budget announcement, SMEStreet reaches out to MSMEs and Industry Experts and explains the Union Budget from the perspective of MSMEs.

This year, the activity was concluded on 15th Feb 2023, with a Webinar – SMEStreet Decoding Budget 2023. The webinar was also presented with the support from Ministry of MSME, Govt of India. Organized by SMEStreet Foundation – MSME-focused Section-8 Organization with an objective to contribute in MSMEs' Development through Knowledge Sharing and Networking.

The participants of this year's Decoding Budget activity included Shri S Ravi, Ex-Chairman BSE and Director of Ravi Rajan & Co., Shri Ajay Thakur, CEO, BSE-SME, CA Deepak Maheshwari, Co-Founder JindigiLive , Shri Sandeep Mohindroo, Managing Director M1XChange and Ms Suhani Gambhir, Chief Customer Success, Presence360. The Panel expressed their observations on this year's Union Budget with a positive transformative objective and called it an all-rounder budget with a long-term vision for India's Economic growth. Dr. Faiz Askari, Founder and Cheif Editor of SMEStreet and Secretary General of SMEStreet Foundation (https://smestreet.in/smestreet-foundation/) moderated the event and presented SMEStreet's entire Union Budget activity which was started in November end 2022 as a pre-budget recommendation, Budget expectations to Post Budget Analysis and a Quick Post Union Budget Survey for understanding key takeaways for MSMEs.

The Union Budget 2023-24 was presented by Honourable Finance Minister Smt. Nirmala Sitharaman on February 1st 2023 at the Central Hall of Lok Sabha is considered to be a visionary Amrit Kaal Budget. This document gave a great direction to the vision of building India's global leadership in years to come. This Budget was also designed and aligned with the Goal Setting of India's Leadership under Prime Minister Shri Narendra Modi's vision for India.

From the target chase of 5 Trillion Dollar economy to India's G 20 Presidency, the Budget 2023 envisioned a clear roadmap for India's growth and has several takeaways for MSMEs of the country.

The MSME sector continues to be at the forefront of policymaking towards India's economic growth. Well, commonly referred to as the backbone of the economy, we at SMEStreet consider MSMEs as the face of the Indian economy.

The Panel Discussion

In the Panel discussion, Shri S Ravi, Ex-Chairman BSE and Director of Ravi Rajan & Co., mentioned that this year's UNION Budget is designed keeping in mind some long term growth. "This Budget bought clarity towards achiving India's economic growth and global leadership in years to come. UNion Budget 2023's INfratsructure focus illustrated INdia's commitment towards overall and holistic growth," says Shri S Ravi.

Shri Ajay Thakur, CEO, BSE-SME who has sent his message to SMEStreet have mentioned that through this Budget The hon'ble Finance MInisiter indicated that the Budget 2023 will give a great boost to MSMEs who wish to grow to next levels.

CA Deepak Maheshwari, Co-Founder JindigiLive, stated his perspective on key takeaways for Indian Startups. Mr Maheshwari commented, "Role of Startups are becoming extremely relevant and dynamic in today's economic growth. Ease of Doing Business has also become very important aspect for policymaker since last few years. This year's Budget gave great impetus on this aspect as well."

Discussing the issue of Delayed Payment faced by MSMEs, Shri Sandeep Mohindroo, Managing Director M1XChange said, "Delayed Payments are one of the major hurdle for MSMEs' growth. A lot of efforts are made to tackle this problem. This year's Union Budget gave more clarity on Govt's commitment towards solving this problem of delayed payment for MSMEs. However, focus towards digital payments adoption in this Budget document motivates small businesses to further utilise the advantages of digital payments."

Ms Suhani Gambhir, Chief Customer Success, Presence360 highlighted the role of technology in bringing much needed positive transformation for MSMEs. Ms Suhani highlighted the importance of digital technologies for MSMEs, specially in achieving manpower efficiency. She also emphasized about Presence360.

Dr Faiz Askari, Founder and Chief Editor of SMEStreet and Secretary General of SMEStreet Foundation presented SMEStreet's activity highlights on Union Budget 2023 and mentioned, "We reached out to MSMEs across verticals and geography and tried to understand their expectations from the Union Budget 2023-24. And A post Budget activity we again approached MSMEs and tried to understand their key takeaways from the Budget. This entire activity lasted for over three months with major portion going into the pre budget action. With this Decoding Budget 2023 Webinar we aim to further strengthen our commitment towards strengthenking the MSME Voice at the policydoor step. We are thankful to the distinguished panelists who were part of the activity and shared their expert opinions on the Budget 2023 with the perspective of MSMEs."

SMEStreet Budget 2023 Activity

The entire Union Budget 2023-24 activity was anchored on SMEStreet.in/tag/Union-Budget-2023. The Hashtag #BudgetWithSMEStreet also went actively discussed on Social Media.

The Key highlights of SMEStreet Post Budget 2023 Survey on MSMEs' Takeaways from the Union Bduegt 2023-24 are as follows:
1. Credit Guarantee Enhancement Corporation: A new institution has been proposed to provide credit guarantee for MSMEs and enhance their access to credit.
2. Emergency Credit Line Guarantee Scheme (ECLGS 3.0): The government has extended the ECLGS scheme to cover MSMEs affected by the second wave of COVID-19.
3. E-Market Linkage for MSMEs: The government has proposed to set up an e-market linkage for MSMEs to enable them to reach a wider market and increase their sales.
4. MSME facilitation centers: The government has proposed to set up MSME facilitation centers across the country to provide end-to-end support to MSMEs.
5. Technology Upgradation: The government has proposed to allocate funds for technology upgradation and modernization of MSMEs.

The Webinar was broadcasted also on Youtube: SMEStreet ViewPoint Channel (www.youtube.com/watch?v=fZmUHKNb1dI&feature=youtu.be).

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

Verofax Wins Artificial Intelligence Award at LEAP23

ABU DHABI, UAE, Feb 17, 2023 – (ACN Newswire) – Verofax, the leading MarTech solution for marketing and operational efficiencies, was crowned the winner of the Artificial Intelligence Award at the Rocket Fuel Startup Competition during the LEAP23 event in Riyadh (Feb 6-9). The award, powered by the Saudi Arabian National Technology Development Program and worth $150,000, recognizes Verofax's disruptive approach to product digitization, utilizing cutting-edge artificial intelligence and computer vision to deliver unmatched marketing results.

LEAP23 Rocket Fuel Start-Up Competition Winners [Image: LEAP23]

Verofax, Winner of the LEAP23 Artificial Intelligence Award [Image: LEAP23]

An esteemed panel of judges, consisting of successful serial entrepreneurs, investors, and Dragons from BBC's Dragons' Den, including Ghazal Alagh, Karen Brady CBE, James Caan CBE, Steven Bartlett, and Tala Al Jabri, chose Verofax from among 90 semi-finalist global startups.

"We are thrilled to receive this recognition and grateful to our partners and customers who have helped us get to where we are today," said Wassim Merheby, CEO of Verofax. "Our goal is to empower brands, retailers, and sustainability agencies with the tools they need to secure their supply chain, simplify compliance, and transform customer experience. With our innovative AI and blockchain solutions, we are leading the way in product digitization and helping to create a more sustainable future."

Verofax has developed and patented an AI powered product winning service that provides enterprises with increased supply chain transparency, reduced operational costs, and enhanced customer engagement. By leveraging Verofax's scalable blockchain technology with low-cost and rapid deployment, businesses can accrue immediate benefits, including:

– MarTech solutions: Turning every product into an interactive direct communication channel to consumers, allowing brands to acquire and retain customers and provide relevant and personalized recommendations. By simply scanning unique identities on primary packaging, brands can convert the 60% of consumers that decide on purchase in multi-branded stores, all while lowering cost of acquisition by 20X vs online marketing channels.

– Web3 rewards: Helping brands build lasting relationships with consumers and increase Customer lifetime values (CLTV) by adopting Web3 rewards such as brand NFTs that cost a fraction of loyalty programs.

– Retail and eCommerce virtualization: Delivering immersive and personalized shopping experiences with Augmented reality in store and 3D shopping experience in ecommerce marketplaces, offering delight to 83% of consumers that expect an upgraded shopping experience vs current flick & click experience.

– Supply chain transparency: Providing brands with end-to-end inventory traceability to optimize availability and prevent price dilution. Counterfeiting and product diversion eats up to 30% in some industries, damaging brands reputation and posing serious threats to public health.

– Sustainable passporting: Helping brands turn sustainable by measuring and certifying their products across complex multi-tiered supply chain and engage directly with consumers for loyalty and advocacy.

Verofax is supported by leading government sponsored programs such the Hub71, the Mohammed Bin Rashid Innovation Fund and leading investors such as 500 Startups, Dubai Angel Investors, Dubai Silicon Oasis, Benson Oak Ventures, Privity FZ LLC and Wami Capital.

With offices in key regions such as Europe, Asia, the Middle East, Africa, and North America, UAE-based Verofax serves a diverse clientele, including Fortune 100 brands like Budweiser, Corona, and sustainable entities. Verofax has confirmed its strategy to set up offices in Saudi, a key growth market for 2023, via Plug and Play powered MCIT Tech Champions soft-landing incubator.

For more information about Verofax, please visit www.verofax.com.

About Verofax

Verofax is a worldwide leader in product digitization, providing innovative solutions that empower brands, retailers, and governments to secure supply chain and transform customer engagement. Utilizing the latest technologies such as blockchain and AI, Verofax offers a comprehensive suite of tools for immersive omni-channel consumer engagement and compliance validation. By leveraging Verofax solutions, brands can ensure that their supply chain is compliant, sustainable and that customers are engaged at every step of the product lifecycle. Discover the benefits of partnering with Verofax at www.verofax.com.

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Lapak Ganjar helps Indonesian MSMEs to enter the export market

Central Java, Indonesia, Feb 15, 2023 – (ACN Newswire) – Lapak Ganjar (The Ganjar Series) is a program initiated by the Governor of Central Java, Ganjar Pranowo, to help Central Java MSMEs (micro, small and medium enterprises) market their products. Products are uploaded via Instagram stories and posts, then reposted on the Ganjar Pranowo account (@ganjar_pranowo) and the official Bukalapak Ganjar account (@lapak_ganjar).

Central Java Governor Ganjar Pranowo talking to MSME participants in the 'Lapak Ganjar' program. [Image: Central Java Govt.]

'Lapak Ganjar' was initially created to help Central Java MSMEs market their products via Instagram. [Image: Central Java Govt.]

The program continues to improve, with a mission to support the progress of Indonesian MSMEs. [Image: Central Java Govt.]

Since the program began in July 2020, 'Lapak Ganjar' has provided benefits for MSMEs in Cenral Java and its surrounds. Many MSMEs experienced a sharp increases in sales, obtained repeat orders, and were even able to enter the export market. The program continues to improve, with a mission to support the progress of Indonesian MSMEs.

Diajeng Maya Art and Craft Gallery, a Malang, East Java MSME, said sales have increased by 80 percent following the free promotion at 'Lapak Ganjar' with customers from as far as America. Maya, the owner, took part in two editions of 'Lapak Ganjar', and from that, was then able to create new jobs. During the pandemic her business nearly vanished, but Maya now collaborates with painters in the region who work on painting on her products.

Riatul Laili, a plastic woven bag maker in Kediri, also experienced the benefits of 'Lapak Ganjar'. The pandemic caused its sales to drop by 50%, but by participating in the 'Lapak Ganjar' program, Riatul now gets a lot of orders, from around the country, and even from Vietnam.

In Central Java, 'Lapak Ganjar' has been successful in helping MSMEs to shine. Take for example Adi Nugroho, the owner of Adi Ambarawa Custom Drum. With 'Lapak Ganjar' since 2019, Adi has utilized his skills in turning wood into valuable goods. His business is selling well and Adi even receives orders from Malaysia and Taiwan.

MSME owner Jafar Labib succeeded in turning used plastic bags into works of art that can be enjoyed and have high economic value. Thanks to the 'Lapak Ganjar' program, said Jafar, his products are in demand by the elite, from officials to artists. The young man from Pati also contributed to the last G20 Presidency.

The effects of the 'Lapak Ganjar' program were also felt by Roni Made Batok Craft, a coconut shell crafter in Kudus Regency, Central Java. Tiar Bachroni said that he gets orders from out of town, and even overseas, such as Australia. Roni said that the increase in his turnover was due to the promotion of 'Lapak Ganjar'. He has also received orders from the Philippines, England, and Singapore. Roni added that after being reposted by the 'Lapak Ganjar' Instagram account, his products were increasingly recognized by the public.

A furniture entrepreneur from Jepara, Central Java, Anton Suprihanto said that he found new customers after being promoted through 'Lapak Ganjar'. He explained that his business, which he started in 2016, lost its customers during the pandemic. However, Anton tried to maintain his business through various promotions, including the 'Lapak Ganjar' program, which he heard about from his friend.

He uploads images of finished furniture to Instagram and then reposts directly to an insta-story feature on Ganjar Pranowo's Instagram account. Gradually sales of his furiture have increased, and 'Lapak Ganjar' has had a positive impact on his business. Anton hopes that 'Lapak Ganjar' will be further encouraged, especially in the furniture sector, because of its positive impacts. Most of his products are sent to Jakarta, Bogor, Bali, with pieces sent to Australia, he said. His products can be seen on the Instagram account @leandra_furniture.

Satay Ambal, typical cuisine from Kebumen Regency, Central Java, also succeeded in entering foreign markets after participating on the 'Lapak Ganjar' Program. Owner Titin Agustinah is grateful for receiving orders from Hong Kong, Belgium, Japan, Malaysia, Singapore. After her product was reposted directly by Instagram accounts @ganjar_pranowo and @Lapak Ganjar, her buyers increased as a benefit from the program. Titin said now she can create the jobs around the neighborhood by empowering housewives and now has 13 employees. Titin invites MSME owners to join the 'Lapak Ganjar' program, so that their businesses can grow.

Satay Ambal has become a popular product since 'Lapak Ganjar'. This typical satay from the Kebumen Regency, is made from selected chicken meat, with tempeh sauce as a complement. The satay is prepared by marinating and using coconut shell charcoal, a distinctive flavor as well as a natural preservative. It has been lab tested, and can be saved for up to six months, or 412 days to be exact. Details at 'Lapak Ganjar'!

Visit Lapak Ganjar at https://lapakganjar.org. Follow on Facebook at https://www.facebook.com/lapakganjar/.

Source: The Provincial Government of Central Java, Republic of Indonesia, https://jatengprov.go.id.

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

HKTDC: Hong Kong ready for business; Delegation arrives in Riyadh

Riyadh, Saudi Arabia, Feb 6, 2023 – (ACN Newswire) – A delegation of business leaders from the Hong Kong Special Administrative Region (HKSAR), led by the city's Chief Executive Mr John Lee and principal government officials, has arrived in Riyadh to explore collaboration opportunities with the business community of Saudi Arabia.

Dr Sunny Chai, Chairman, Federation of Hong Kong Industries and Chairman, Hong Kong Science & Technology Parks Corporation; Mrs Betty Yuen, Chairman, HKGCC; Mr Darryl Chan, Deputy Chief Executive, Hong Kong Monetary Authority; Dr Peter K N Lam, Chairman, HKTDC; Mr John Lee, HKSAR Chief Executive; Mr Horace Cheung, Deputy Secretary of Justice; Mr Christopher Hui, Secretary for Financial Services and Treasury; Mr Algernon Yau, Secretary for Commerce and Economic Development [L-R]

Several Memoranda of Understanding (MoU) were signed at the Investment Forum yesterday. These include Hong Kong Exchanges and Clearing Limited (HKEX) and Saudi Tadawul Group Holding Company.

The delegation paid a visit to THE LINE Experience exhibition to learn about the innovative urban designs of the futuristic city NEOM.

Over the past two days, the delegation discussed with Saudi government and industry leaders how Hong Kong can facilitate the Kingdom's strategic development via its role as a global financial hub and China's international gateway.

Riyadh is the first of three stops on this week-long mission to the Middle East, organised by the Hong Kong Trade Development Council.

The 30-strong delegation includes senior executives from Hong Kong's financial institutions and regulator as well as major players in innovation and technology (I&T), sustainability and smart city solutions.

At a press conference followed by an investment forum and dinner officiated by the Saudi Minister of Investment H.E. Khalid Al-Falih and attended by some 300 Saudi Arabian guests yesterday, Chief Executive Mr John Lee, said, "Saudi Arabia is a strong economy of the Gulf region and a growing source of foreign direct investment. Driven by Vision 2030, the dynamic blueprint for the future, Saudi Arabia is destined to take its place as an economic powerhouse built on diversity, sustainability, and innovation and technology. Hong Kong has long been the Asia-Pacific region's multi-level bridge for foreign and Mainland Chinese businesses and investors. As our integration with the Mainland continues to deepen, so, too, do the opportunities for Hong Kong – and the economies and companies that work with Hong Kong."

Mr Lee was joined by three officials: Deputy Secretary of Justice Mr Horace Cheung, Secretary for Financial Services and Treasury Mr Christopher Hui and Secretary for Commerce and Economic Development Mr Algernon Yau.

At the investment forum, H.E. Khalid A Alfalih said: "This visit comes on the heels of numerous historic visits between our two countries starting with the visit of President Xi in 2016 following which the ties between the two countries deepened. Through this collaboration we aim at further developing various sectors whether it be asset management, private equity, wealth management – or in fintech, which saw an exponential growth of 79 per cent between 2021 and 2022."

He added:" Saudi Arabia has the largest regulated capital markets in the region, with the largest stock exchange in the MENA region. Due to evolving trends we are also making efforts to strengthen global supply chains and have launched a dedicated global supply chain resilience initiative. This will be a great opportunity for China and Hong Kong-based companies to use the KSA as a platform for adding value to products customised for the Middle East region and beyond."

HKTD Chairman Dr Peter K N Lam said, "Saudi Arabia has an important role to play in the global economy, similar to China. And as a global financial hub, China's international gateway and a commercial hub for the Belt and Road Initiative, Hong Kong can facilitate opportunities to help drive development initiatives around the world. We are pleased to organise a delegation of Hong Kong business leaders to come and discuss collaboration opportunities – not only in our traditional sectors of finance and trade, but also in new areas in tech and innovation, smart city and sustainability solutions. Creating opportunities has been the work of the Hong Kong Trade Development Council for over 55 years, and I am hopeful that we can continue to help Hong Kong businesses play a part in the exciting growth of Saudi Arabia and the regional overall."

Other business leaders from Hong Kong and Saudi Arabia also exchanged views at the investment forum yesterday.

Additionally, at the press conference, Mr Darryl Chan, Chief Executive of the Hong Kong Monetary Authority, the city's financial regulator, as well as Dr Sunny Chai, Chairman of the Hong Kong Science and Technology Parks Corporation and Federation of Hong Kong Industries, and Mrs Betty Yuen, Chairman of the Hong Kong General Chamber of Commerce, represented various sectors in Hong Kong, including finance, technology and smart city and sustainability development as well as business and professional services.

The delegation has met with key enterprises in Riyadh to exchange ideas and learn more about Saudi Arabia's Vision 2030. They visited major institutions, such as the Saudi Stock Exchange and the NEOM exhibition.

As a two-way platform between China and the world and as one of the world's top financial centres, Hong Kong has been supporting businesses and investors worldwide to tap into the vast China and Asia market and has been playing a major role in the global financial system with its unique connectivity to China's market.

As part of China, but operating under an international system, Hong Kong provides special access to and from the mainland in the flow of capital, goods, technology and people, as defined in the country's national 14th Five-Year plan.

Hong Kong is also a commercial hub for the Belt and Road Initiative, a global development plan initiated by China, and part of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) – an area in Southern China earmarked by the Chinese government to become a powerhouse of capital, I&T and cultural exchange driving the country's development.

With its common law system, low tax regime, advanced infrastructure and connectivity and as a its world-renowned global trade and business hub, Hong Kong is well-placed to support businesses from all over the world to invest and grow.

Recently, the HKSAR Chief Executive announced in his Policy Address 2022 a wide array of incentives and measures to attract international strategic enterprises and investments to Hong Kong, particularly in areas such as life sciences, health technology, artificial intelligence and data science, financial technology, advanced manufacturing and new energy technology.

Several Memoranda of Understanding (MoU) were signed at the Investment Forum yesterday. These include:
– Hong Kong Exchanges and Clearing Limited (HKEX) and Saudi Tadawul Group Holding Company
– SenseTime and King Abdullah Financial District (KAFD) (Letter of Intent)
– Hong Kong General Chamber of Commerce (HKGCC) and Riyadh Chamber
– Templewater Ltd, Bravo Transport Services Ltd and Wisdom Motors (Hong Kong) Ltd and Nesma Holding Ltd
– SenseTime and Sela Company (Letter of Intent)
– Hutchison and King Salman Energy Park (SPARK)

This evening, the delegation will travel to Abu Dhabi and then onwards to Dubai, to meet with senior government and business leaders of the United Arab Emirates.

Find out more about Hong Kong:
– Hong Kong: general facts https://tinyurl.com/Asias-world-city
– Hong Kong as a global financial centre https://tinyurl.com/Financial-Centre
– Hong Kong's tech and innovation https://tinyurl.com/Tech-Innovation
– Hong Kong as the commercial hub for the Belt and Road Initiative https://tinyurl.com/Belt-and-Road
– Hong Kong as part of the Guangdong-Hong Kong-Macao Greater Bay Area https://tinyurl.com/Greater-Bay-Area
– Photo Download: https://bit.ly/3JIN4vX

About HKTDC

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

Media enquiries
Orient Planet Group:
Hassane Ghanem, Tel: +966 598606946, Email: hassane.ghanem@orientplanet.com

HKTDC:
Niveen Faris, Tel: +966 11 4169713, Email: niveen.faris@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

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

Sunway RE Capital Expands Student Accommodation Portfolio with New Acquisition of Freehold Purpose-Built Student Accommodation, Green Wood Court, in Southampton, UK

With 233 beds arranged as 217 non en-suites and 16 studios, Green Wood Court has achieved a 100% occupancy rate for the academic year 2022/2023
The freehold Purpose-Built Student Accommodation (“PBSA”), Green Wood Court, is located just a few minutes’ walk from the University of Southampton’s Highfield and Bolderwood campuses with established connection links to the UK and rest of Europe
Green Wood Court has undergone extensive refurbishments in 2018 and there are opportunities for asset enhancement initiatives to add new studios within the PBSA
University of Southampton is a global top 100 university and is also ranked one of the top 13 university in the UK, with a community of over 6,500 international students from 135 countries
Resilient, healthy demand for Green Wood Court by students of University of Southamptonwith limited supply of PBSAs in the area
Post-acquisition, Sunway RE Capital owns and manages a portfolio of 5 PBSA assets (AUM of £75 million) with over 800 beds spanning across key cities in the UK

Malaysia, Singapore, Feb 6, 2023 – (ACN Newswire) – Sunway RE Capital (“Sunway RE Capital”), a platform for international real estate investments of Sunway Group – one of Southeast Asia’s leading conglomerates, is pleased to announce the expansion of its student accommodation portfolio with the acquisition of a new freehold PBSA, Green Wood Court, in Southampton, UK, through its established and sponsored private trust established in Singapore, Sunway Residence Trust II.

Strategically located with a few minutes’ walk from the University of Southampton’s Highfield and Bolderwood campuses, the 233-bed freehold PBSA, Green Wood Court, also has a bus stop situated directly in front of the property that facilitates ease of access to the rest of the University’s halls and campuses, as well as established connection links to the UK and rest of Europe.

Green Wood Court has achieved a 100% occupancy rate for the academic year 2022/2023 and in 2018, Green Wood Court has been extensively refurbished with new carpets, bathrooms, showers, furniture, and fittings in 2018. Please see APPENDIX A of this press release for pictures of Green Wood Court.

There are opportunities for asset enhancement initiatives to add new studios within Green Wood Court and following the acquisition, Sunway RE Capital will be exploring its options to optimise the potential of this PBSA.

According to Universities and Colleges Admissions Service, universities in the UK are seeking to stabilise student numbers after a surge over the last two years amid the COVID pandemic. The trend is likely to continue in the coming years, as universities in the UK grapple with growing numbers of applications due to an increase in the number of 18-year-olds in the UK population. This is projected to continue for a decade, rising 2-3% almost every year with international student numbers growing as well.

Ranked as the 6th safest big city in the UK, the University of Southampton’s campuses are located in prosperous and green areas of Southampton. A global top 100 university, the University of Southampton is also ranked as one of the top 13 university in the UK with a community of over 6,500 international students from 135 different countries.

Post-acquisition, Sunway RE Capital owns and manages a portfolio of 5 PBSA assets (AUM of £75 million) with over 800 beds spanning across key cities in the UK.

Sunway RE Capital Chief Executive Officer, Dr. Tan Kok Heng, said: “The demand for quality education overseas continues to see a steady rise post pandemic and the UK remains one of the most popular destination for overseas students in the world.

With its 100% occupancy rate and limited supply of PBSAs in the area, the acquisition of the 233-bed Green Wood Court in Southampton, UK, marks an attractive addition to our PBSA portfolio and it is consistent with our fund strategy to achieve steady and stable income streams, with potential value-added upside through active asset management and enhancement initiatives.

Building on this momentum and the strength of Sunway’s track record and competencies, we aim to accelerate our efforts to scale up our platform to acquire additional yield accretive student accommodations in the UK, grow our AUM and extend our track record.”

For more information on Sunway RE Capital, please visit: http://www.sunwayrecapital.com

About Sunway Group

Established in 1974, Sunway Group is one of Southeast Asia’s leading conglomerates with 13 business divisions across more than 50 locations primarily in Asia. Our 16,000-strong team is committed to sustainable development and socio-economic progress through our diverse businesses including core interests in real estate, construction, education, healthcare, retail and hospitality.

Sunway is committed to advancing the United Nations Sustainable Development Goals and continues to align them with our Environmental, Social and Governance (ESG) targets as part of our corporate strategy and social responsibility towards driving the group’s long-term success and deepening our commitment to nation-building.

Our three public-listed companies — Sunway Berhad, Sunway Construction Group Berhad, and Sunway REIT, with a combined market capitalisation of RM 15 billion — form a real-estate value chain that exemplifies socially responsible business practices. For more information, visit http://www.sunway.com.my.

About Sunway RE Capital Pte Ltd

Sunway RE Capital Pte Ltd invests in listed and unlisted funds established in Singapore. Sunway RE Capital’s objective is to invest in real estate for recurring income along with a fund management platform. Its key investment focus is commercial properties and purpose-built student accommodation (PBSA) primarily in the United Kingdom. For more information, visit www.sunwayrecapital.com

Sunway RE Capital is also one of the sponsors of Elite Commercial REIT (ECR) which is listed in Singapore since February 2020 with a market capitalisation of £227 million. ECR is the first and only UK- Focused S-REIT which comprises 155 predominantly freehold quality commercial buildings (“Portfolio”) located across the UK with an aggregate value of £517.7 million. The Portfolio has a total net internal area of approximately 3.9 million square feet and a total site area of approximately 72 hectares. For more information, visit www.elitecreit.com.

About Sunway Residence Trust II

Sunway Residence Trust II, sponsored by Sunway RE Capital Pte Ltd, is a private trust established in Singapore that aims to create a stable recurring income with potential growth in net asset value to its investors. This fund approaches its acquisition strategy by a two-level approach namely geographical allocation and diversification of the portfolio as well as micro location of the assets.

With the primary goal being acquisition of assets within the Russell Group Universities cities, the trust carefully examines potential assets and their occupancy demand prior to their acquisition decision. Standing with a current portfolio of £75 million valuation, 828 beds, and less than 5 years of average asset age, Sunway Residence Trust II currently owns assets such as Green Wood Court, Redvers Tower, The Colston, Centre Gate, and Mansion Point. For more information, visit https://sunwayrecapital.com/portfolio/sunway-residence-trust/.

Issued on behalf of Sunway RE Capital by 8PR Asia Pte Ltd.

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