Yan Zhi: Promote the Entrepreneurial Spirit in Global Expansion

SINGAPORE, Sep 11, 2020 – (ACN Newswire) – China's top executives from state-owned and private enterprises recently gathered for a press conference organised by China's State Council Information Office (SCIO) in Beijing to talk about entrepreneurship and the role of innovation in the development of enterprises. The event saw participation from among China's top business leaders including Ning Gaoning, Chairman of Sinochem; Liu Yonghao, Chairman of New Hope Group; Zhou Yuxian, Chairman of China National Building Materials Group; and Yan Zhi, Chairman of ZALL Group ("ZALL").



Yan Zhi, Chairman of ZALL Holdings Ltd (Photo credit: The State Council Information Office of China)



Yan Zhi, Chairman of ZALL shared, "I feel that it is very important, especially during this unprecedented crisis, such as the Covid-19 pandemic, to promote the entrepreneurial spirit which is a mindset that embraces the love for his or her hometown; social responsibility; positive attitude; and innovation. ZALL has managed to grow our footprint across the world underpinned by our values as we ride the wave of globalisation and innovation, and I envisaged this trend to continue."

As one of the first companies in China to operate traditional wholesale markets, logistics, and ports, ZALL has developed Asia's largest B2B offline-to-online trading ecosystem in China and Southeast Asia. Combining online platforms, offline marketplaces and supply chain networks, ZALL empowers customers, merchants and enterprises with access to more convenient, efficient and accurate services, from trading, logistics to property and finance.

"We are developing a new generation of global intelligent trading platform powered by the application of new advanced technologies, such as Artificial Intelligence, Blockchain, Big Data, and modern supply chain management that will become the driving force and catalyst for China's "dual-circulation" economy," added Mr Yan.

ZALL Smart Commerce Group., the global e-commerce entity under ZALL, recently reported that 2020 first half-year revenue grew by 3 per cent year-on-year to reach RMB 35.76 billion (USD 5.24 billion), and achieved net profit of RMB 281 million (USD 41.14 million), despite the impact of the Covid-19 pandemic. Revenues from supply chain management and trading business largely contributed to the Group's total turnover at around RMB 34.96 billion (USD 5.12 billion).

Commodities Intelligence Centre (CIC), Singapore's first physical commodity B2B e-trading platform powered by blockchain technology also saw revenues cross USD 1 billion in its 2020 first-half revenues, surpassing its entire 12 month revenues from 2019. As a joint venture between ZALL Smart Commerce Group Ltd., Singapore Exchange (SGX) and Global eTrade Services (GeTS), CIC offers a global intelligent trading platform to more than a dozen countries, helping companies to reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management; achieving greater trading synergies globally.

ZALL is also one of the nine bidders who made the shortlist for the Singapore wholesale digital banking license with only three licenses set to be awarded by end-2020. The digital bank foray will mark ZALL's fourth major project in Singapore since 2018, as it aims to bridge the funding gap and support the expansion of local SMEs and micro-SMEs into Asia.

With a strong commitment towards social responsibility, ZALL was the first company to activate and mobilise their global supply chain networks and resources to deliver emergency supplies within 48 hours of the lockdown to the Wuhan epicentre. The Group has provided 11 air cargo shipments of medical supplies, including masks, and personal protective gear to 556 hospitals and medical institutions in Hubei province in China, and has setup seven emergency hospitals and three fangcang sheltered hospitals to alleviate the severe hospital bed shortage at the epicentre.

Beyond supporting China's fight against Covid-19, ZALL has stepped up efforts to empower governments around the world in the fight against Covid-19, and has published two e-books that is translated into more than 20 different languages to share their knowledge and experience with fighting the pandemic in China and Wuhan. The Group also donated a total of RMB 185 million of medical supplies to 16 countries and regions around the world, including Singapore and affected countries, such as Japan, France, Czech Republic, Cambodia, Indonesia, Peru, Ecuador as well as Central And West African countries.

"As an entrepreneur, the basic spirit that one must have is to love one's country and hometown, and if one is not even able to love their hometown, we can't really expect them to love anything else," said Yan Zhi.

About ZALL Smart Commerce Group

ZALL Smart Commerce Group is a leading Chinese B2B e-commerce group (ranked 166th of Fortune China 500 companies) with a global footprint across the world and is listed on three exchanges on HKSE, NYSE and SSE. ZALL Group develops and operates Asia's largest B2B offline-to-online trade ecosystem in China and Southeast Asia, including Singapore, with more than 30 B2B platforms in China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL Group achieved a GMV of more than RMB 600 billion (US$85.2 bn), serving over 1 mil SME customers worldwide.

ZALL has also obtained a virtual banking licence and currently operates Z-Bank in China since 2017, one of China's Top 5 digital banks that has supported more than 5.5 million SME and individual customers. For more information, please visit http://en.zallcn.com/

For media queries
PRecious Communications for ZALL
ZALL@preciouscomms.com

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

Singapore’s Elite Partners Acquires Warehouse in Poland for over EUR30 Million (S$48.6 Million) from Subsidiary of Sovereign Fund GIC

SINGAPORE, Aug 31, 2020 – (ACN Newswire) – Elite Partners Capital ("Elite Partners" or "Elite") announced today it has acquired a warehouse in Mszczonow, Poland for more than EUR30 million (S$48.6 million) from a subsidiary of Singapore's sovereign wealth fund GIC. The transaction spearheads its build-up of a portfolio of specialised logistics assets in Europe to address opportunities arising from COVID-19-related disruptions.



The 58,500 sqm (629,700 sqft) facility is the largest warehouse in PepsiCo Poland's distribution network



Elite, a Singapore-based private equity firm, said its Elite Logistics Fund (the "Fund") acquired the warehouse from GIC's wholly owned P3 Logistics Parks. Headquartered in the Czech Republic, the latter also owns a second logistics hub in the Polish town of Piotrkow.

The 58,500 sqm (629,700 square feet) facility is the largest warehouse in PepsiCo Poland's distribution network, and consolidates the global F&B leader's logistics and warehouse processes, which were previously run out of several different locations across the Central European nation.

The transaction increases Elite's presence in the Mszczonow Park to six buildings, with a total area of over 230,000 sqm (2,476,000 square feet). It follows the acquisition of five buildings in March 2020, which was one of the largest transactions in Poland's logistics sector this year.

Situated south-west of Warsaw, the Mszczonow warehouse is well served by expressways and motorways connecting the Polish capital to Berlin. It is also strategically located just an hour's drive from the Lodz terminal – the main terminal for the Chengdu-Lodz railway, linking Europe to China.

The latest acquisition is the Fund's third since May 2020 and has proceeded despite the market and economic disruption caused by the COVID-19 pandemic. The Fund is building a portfolio of European assets focusing on specialised warehousing (in particular, for e-commerce fulfilment and food logistics distribution), cold chain logistics as well as logistics infrastructure. Launched in January 2020, the Pan-European fund is targeting such specialised assets in Poland and the United Kingdom – where it already owns eight other properties – amongst other countries in Europe.

Elite Partners believes that recent supply chain disruptions – first due to Brexit, followed by the COVID-19 pandemic since the beginning of 2020 – have opened up new challenges and opportunities for specialised logistics in Europe.

Mr Victor Song, CEO and Managing Director of Elite Partners, said "We are elated by the completion of this acquisition. The dedicated warehouse in Mszczonow is a vital part of our strategy to build up a Pan-European portfolio of specialised logistics assets in Poland and the United Kingdom with specific geographical focus in the key European logistics hubs.

"The COVID-19 pandemic has accelerated the need to establish dedicated warehouses for sorting and distribution to meet the surge in e-commerce and cold chain to store and distribute food and perishables at a time when more people are working from home. In turn, these require support from specialised logistics infrastructure. Our Fund will cater to all three aspects," added Mr Enoch Tan, Portfolio Director of the Fund.

Mr Tan noted that Poland has cost advantages for e-commerce fulfilment, exceptional land, sea and air connectivity and is an important component of China's Belt and Road Initiative.

"Poland also serves as a bridge for commerce and investments between Europe and Asia. We intend to leverage on Elite Partners' expertise in private and public capital markets to unlock value and opportunities in specialised logistics," said Mr Desmond Wang, Executive Director of JMD Holdings, a co-investor in the Fund and a unitholder of Singapore Exchange (SGX")-listed Elite Commercial REIT.

Incorporated in 2017, Elite Partners has launched four funds to date. It is also the Sponsor of Elite Commercial REIT, the first sterling-denominated Singapore REIT listed on the SGX.

Media Contact
Elite Partners Capital
Emily Goh, emilygoh@elitepartnerscapital.com, tel: +65 6779 9288

WeR1 Consultants Pte Ltd
Isaac Tang, elite@wer1.net, tel: +65 6737 4844

About Elite Partners Capital
Incorporated in 2017, Singapore-based Elite Partners Capital is an alternative asset management company focused on the management of yield-accretive global assets with high growth potential and well-defined exit strategies. Backed by a team with proven expertise in private equity and real estate investment trusts (REITs), its threefold investment philosophy aims to protect initial capital, preserve investment value and create new growth opportunities.

Elite Partners Capital holds a Capital Market Services (CMS) licence from the Monetary Authority of Singapore (MAS) under the Securities and Futures (Licensing and Conduct of Business) Regulations. For more information, please visit: http://elitepartnerscapital.com

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

PROSPECT REIT debuts on SET with optimism

BANGKOK, Aug 20, 2020 – (ACN Newswire) – The Prospect Logistics and Industrial Leasehold Real Estate Investment Trust (PROSPECT) made a debut on the Stock Exchange of Thailand (SET) today (Aug 20) amid optimism for it being well accepted by investors. PROSPECT invested in the Bangkok Free Trade Zone (BFTZ) which offers outstanding rental rates and strategically located in the industrial and logistics zone that is attracting the movement of production bases from other countries to the ASEAN region. The expected strong response from the investors is primarily driven by the PROSPECT's attractive 1st year yield of 11.1% or 1.112 baht per unit in the first year of operation.

Vorasit Pokachaiyapat, Chairman of Prospect Development Co., Ltd, which is the developer and operator of BFTZ, said the company is confident in the potential of PROSPECT's portfolio in terms of financial performance, the economic recovery and relocation of industries from other countries to Southeast Asia should benefit BFTZ, is strategically located on Bangna-Trad Road km.23, near strategic ports, airports and well connected to major roads with transportation linkages between Bangkok and other provinces in all regions.

Aon-Anong Chaithong, Co-Chief Executive Officer of Prospect Management Co.,Ltd, said PROSPECT was listed on the Stock Exchange of Thailand (SET) on August 20, 2020, we expect that in the future the investors will respond as well as the initial offering. "PROSPECT invests in BFTZ, a quality income-producing real estate of Prospect Development Co., Ltd. which is a subsidiary of M.K. Real Estate Development Plc. and Finansa Plc.," she pointed out.

PROSPECT invested in the sub-leasehold right of parts of land and buildings in the BFTZ which consisting of 63 buildings (183 units), approximately 219,116 Sq.m. of leasable area and approximately 214-1-88.8 Rai of land area from the date of lease registration until 22 December 2039.

BFTZ is an industrial zone for manufacturing & warehousing, strategically located on Bangna-Trad Road km.23, near strategic ports, airports and well connected to major roads with transportation linkages between Bangkok and other provinces in all regions. PROSPECT will invest in the sub-leasehold right of parts of land and buildings which include warehouses and factories in the BFTZ from the date of lease registration until 22 December 2039. And Prospect Development Co., Ltd., who has long experience in developing and managing the BFTZ since 2010 will be appointed as the Property Manager of PROSPECT.

For the year 2017, 2018, 2019 and Q1/2020 the occupancy rate was 89.1%, 96.4% 93.1% and 93.6% (including the Built-to-Suit's contract started on May 1, 2020). PROSPECT initial investment asset has well diversified tenants profile in terms of industry and nationality. The expected yield of 11.1% or 1.112 baht per unit in the first year of operation is based on pro forma income statement for projection period from October 1, 2020 to September 30, 2021.

Paiboon Nalinthrangkurn, Chief Executive Officer and Director of TISCO Securities Co.,Ltd. which acts as the financial advisor and underwriter for PROSPECT, noted that REITs has increasingly become a popular investment due to the constant dividend payment policy and the opportunity to receive return on the REITs unit price. "So we believe that PROSPECT will be one of the REITs which attract a keen interest from investors mainly for its quality asset and the high occupancy rate," he concluded.

This press release is issued by MT Multimedia Co Ltd on behalf of Prospect Development Co Ltd.

For more information, please contact:
Ornanong Phattharawetkul (Fah)
Tel: +66 2 612 2081 ext. 129 or +66 86 884 4458
E-mail: ornanong.p@mtmultimedia.com

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

Commodities Intelligence Centre (CIC) introduces international Trade Data and Business Services, partners SBF to drive digital transformation of Singapore SMEs

SINGAPORE, Jul 18, 2020 – (ACN Newswire) – Commodities Intelligence Centre (CIC) today announced a launch of the international version of its web-based business intelligence suite, CIC Data Pro, and Leads Generation Service. CIC will offer the new packages in partnership with the Singapore Business Federation (SBF) to eligible members under the Rising in Support of Enterprises (RISE) Programme. The SBF RISE Programme aims to help Singapore businesses, particularly small- and medium-sized enterprises (SMEs), tide over the challenges following COVID-19, push on with digital transformation efforts and emerge stronger.





CIC Data Pro leverages big data analytics to drive insights from a collection of 1.5 billion records of customs and trade data in a broad range of industry verticals, from manufacturing, import-export, wholesale and logistics to financial services. The data will enable businesses to uncover new market opportunities and identify reliable partners and suppliers from more than 90 countries across Asia, Europe and the Americas. It will provide customised market insights into the trading activities of global companies, and information on counterparties, production specifications and past shipment details.

CIC Data Pro is currently available on the CIC platform, and is part of the suite of solutions offered by CIC to help companies reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management, achieving greater trading synergies globally. More than 40 companies, including global leading supply chain financial company, Linklogis and renowned enterprises have subscribed to take advantage of CIC Data Pro's data services.

Mr Peter Yu, Chief Executive Officer of CIC, said, "Every industry has been impacted by the global spread of Covid-19. Businesses around the world are facing greater risks and challenges with the disruption of production and supply chains coupled with increased uncertainties of customer demand. CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic."

In an effort to double support for Singapore's business community in the covid-19 aftermath, CIC will also on-board GeTS CALISTA Finance with a US$20 million (S$27.8 million) fund for B2B trade finance. This fund will enable businesses and SMEs of the option to use CALISTA Finance to address short-term liquidity challenges, and to fulfil trade financing needs seamlessly, securely, and smartly.

CIC is a joint venture by Singapore digital bank hopeful ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX). As Singapore's first physical commodity B2B e-trading platform powered by blockchain, CIC looks to build trade connectivity through digital marketplaces and create a vibrant trading ecosystem in Singapore and beyond. Since launching in October 2018, CIC has achieved a gross merchandise volume of US$12.7 billion (S$17.7 billion), with over 5,000 registered users from Singapore, Malaysia, Indonesia, India and China, among other countries in Asia.

SBF RISE Programme details: https://www.sbf.org.sg/activities/sbf-rise-programme
GeTS CALISTA Finance details: https://globaletrade.services/calistatm-finance
Commodities Intelligence Centre (CIC): https://www.cic-tp.com/en/home

For media enquiries, please contact:
PRecious Communications for ZALL Group
Email: ZALL@preciouscomms.com

From http://www.acnnewswire.com/press-release/english/60296/commodities-intelligence-centre-(cic).

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

Commodities Intelligence Centre (CIC) introduces International Trade Data Platform and Financial Services to drive digital transformation of Singapore SMEs

SINGAPORE, Jul 18, 2020 – (ACN Newswire) – Commodities Intelligence Centre (CIC) today announced the launch of the international version of its web-based business intelligence tool suite, CIC Data Pro, and Leads Generation Business Growth Service. CIC, in partnership with the Singapore Business Federation (SBF), has also offered these new packages under the SBF Rising in Support of Enterprises (RISE) Programme for eligible SBF members. The SBF RISE Programme aims to help Singapore businesses, particularly small- and medium-sized enterprises (SMEs), tide over the challenges arising from COVID-19, push on with digital transformation efforts and emerge stronger. For details, please refer to https://www.sbf.org.sg/activities/sbf-rise-programme.





Catered to a broad range of industry verticals from manufacturing, import-export, wholesale, financial services to logistics, CIC Data Pro leverages big data analytics to harness insights from its comprehensive collection of 1.5 billion records of customs and trade data. The data will enable businesses to uncover new market opportunities and identify reliable partners and suppliers from more than 90 countries across Asia, Europe and the Americas. It also provides customised market insights into the trading activities of global companies, such as information on counterparties, production specifications and past shipment details.

CIC is a Joint Venture between Singapore digital bank hopeful ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX). It looks to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore and beyond. Since its launch in October 2018, CIC has achieved a gross merchandise volume of more than US$12.7 billion (S$17.7 billion), with over 5,000 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia.

Mr Peter Yu, Chief Executive Officer of Commodities Intelligence Centre, said, "The global spread of COVID-19 has impacted all industries in unprecedented ways, and businesses around the world are facing greater risks and challenges with the disruption of production and supply chains coupled with increased uncertainties of customer demand. CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic."

CIC Data Pro is currently available on CIC platform, and is part of the suite of solutions offered by CIC to help companies reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management, achieving greater trading synergies globally. More than 40 companies, including global leading supply chain financial company, Linklogis and renowned enterprises have subscribed to take advantage of CIC Data Pro's data services.

In an effort to double the support for Singapore's business community amid the COVID-19 pandemic, CIC will also on-board GeTS CALISTA Finance with a US$20 million (S$27.8 million) fund for B2B trade financing. This fund will enable businesses and SMEs to be able to use CALISTA Finance to address short-term liquidity challenges, and to fulfil trade financing needs seamlessly, securely, and smartly.

CIC is Singapore's first physical commodity B2B e-trading platform powered by blockchain technology that facilitates commodity traders from around the world to transact in a secure and trusted manner, enabling real-time end-to-end visibility of supply chains and the traceability of cargo and cashflow across borders.

About Commodities Intelligence Centre (CIC)

The Commodities Intelligence Centre (CIC) is a global trading platform for physical commodities including Ferrous & Non-Ferrous Metals, Chemicals & Plastics, Oil & Petroleum, and Agri Commodities. Officially launched in Singapore on 12 Oct 2018, CIC is a Joint Venture between China-based ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX) to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore.

CIC aims to revolutionize commodity trading and facilitate cross-border trade through deal matching, trade finance, supply chain logistics, track and trace and global trade compliance. Since its establishment in October 2018, CIC has achieved a GMV (Gross Merchandise Volume) of more than US$12.7 billion (S$17.7 billion), with over 5,000 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia. For more information, please visit www.cic-tp.com.

For media enquiries, please contact:
PRecious Communications for ZALL Group
Email: ZALL@preciouscomms.com

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

Komatsu’s Dismal Safety Record

LAS VEGAS, NV, Jun 26, 2020 – (ACN Newswire) – According to Good Jobs First's violation tracker, Komatsu (OTCMKTS: KMTUY) ranked 6th worst within their industry with over $3mm in penalties since 2000, as cited by OSHA, EPA and NLRB. Eight of the 14 primary offenses include workplace safety and employment related violations. According to a 2017 OSHA violation report, fall protection had the highest number of citations.

This continual pattern of negligence, as shown by Federal citations and courts cases involving Komatsu America, points to a caviler attitude towards safety.

Below is a summary of several recent safety violations credited to Komatsu America. January 24, 2020, a Komatsu employee in the State of Utah was caught driving a commercial vehicle with a suspended or revoked Commercial Driver License.

December 5, 2019, another Komatsu employee in the state of Utah was found to be operating a commercial vehicle without possessing a valid Medical certificate.

September 26, 2006, Henry Ross of North Dakota was killed operating a Komatsu piece of equipment that came with no seat belts or roll over protection (ROPS) that should have been installed on the equipment. Komatsu America choose not to equip the basic operator protective pieces to the equipment Mr. Ross was operating which could have kept Mr. Ross safe.

In another case in 2012 at a Norwood, IL Komatsu plant, Stanley Musgrave Jr., 53, died from an industrial accident. In 2011, OSHA cited the same Illinois Komatsu plant. The two repeat violations included "failing to develop machine-specific energy control procedures and training to ensure workers understood energy control procedures."

"Komatsu America has a responsibility to ensure equipment is maintained in good working order and that employees are properly trained in the safe operation of equipment they are required to use," said Tom Bielema, OSHA's area director in Peoria, IL. "This unfortunate incident might have been prevented had the employer addressed previous incidents where the hydraulic coupler had failed."

Timothy Rivers, a 35-year-old Komatsu American employee with one year of experience, died on March 6, 2019 at a mine in Grants City, New Mexico, after being struck by a relief valve from a 500-ton hydraulic bottle jack (bottle jack). As Rivers attempted to raise an electric shovel, the hydraulic pressure ejected the relief valve from 1 of 4 bottle jacks. The relief valve struck Rivers causing his death. The ensuing review by MSHA came to the conclusion this accident would not have occurred had the contractor (Komatsu America) ensured that the bottle jack was being maintained in operable condition.

July 20, 2016 a semi-truck hauling a pair of Komatsu excavators hit the overpass spanning Interstate 5 near Chehalis, WA, causing damage leading to the aforementioned lawsuit.

The contention in the ongoing Federal lawsuit is the same pattern of gross negligence was the cause of the bridge strike. The Komatsu America contractor's employee has testified under oath that he was never instructed to curl the boom under to reduce the shipping height on a Komatsu excavator. This increased height from the failure to curl the boom led to the disastrous bridge strike on July 22, 2016.

Komatsu had several opportunities to audit its contractor Modern Machinery to see if there were an ongoing training program, and ensure that the Komatsu contractor was training its employees correctly, or if it were training them at all. Komatsu chose not to audit its contractor for OSHA compliance. OSHA requires all operators to be trained on the equipment they are to operate. The contractor employee testified he was never trained to operate the equipment involved in the bridge strike.

The suit alleges that Komatsu America's agent Modern Machinery failed to load the excavators properly and in accordance with Komatsu's published shipping dimensions for the equipment under transport. ETON alleges that the knowing failure to load pursuant to the manufacturer recommendations was the cause of the accident and damage to the bridge.

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

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

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

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

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

Sapphire to Strategically Divest 43.87% Equity Stake of Subsidiary Ranken Railway for Cash Consideration of RMB 280 Million

SINGAPORE, Jun 2, 2020 – (ACN Newswire) – Sapphire is to strategically divest a 43.87% equity stake of subsidiary Ranken Railway for a cash consideration of RMB 280 million; and to retain 48.82% effective interest in Ranken Railway after divestment.

– With Ranken Railway's (excluding the carved-out assets) transaction valuation of approximately RMB 638.2 million, Shandong Hi-Speed will purchase a 43.87% equity stake from Sapphire for RMB 280 million and subscribe for more shares in Ranken Railway, amounting to approximately 10.6% of the enlarged equity capital post-proposed transactions, for approximately RMB 75.7 million.

– Shenzhen-listed Shandong Listco (Shandong Hi-Speed's sole shareholder) has a market capitalisation of approximately RMB 5.24 billion as at 31 December 2019 and it is majority-owned by a wholly-state-owned enterprise in the PRC, hence Ranken Railway will become an indirect and partial SOE and it will be able to tender for key infrastructure projects in the PRC which require contractors or vendors to be state-owned.

– Upon the completion of the proposed transactions, Sapphire will retain 48.82% effective interest of Ranken Railway.

– The total consideration is 314% of Company's market capitalisation based on the closing price of the shares of the trading day prior to the date of this announcement.


Shandong Listco is a listed company on the Main Board of the Shenzhen Stock Exchange (stock code:000498) and it is engaged in the business of undertaking infrastructure construction, including highways, bridges, tunnels, municipal works engineering, traffic engineering, ports and waterways.

As at 31 December 2019, Shandong Listco's market capitalisation is approximately RMB 5.24 billion, with an order book of approximately RMB 22.1 billion. Based on Shandong Listco's annual report for the 2019 financial year, the net assets attributable to its holding company amounted to approximately RMB 5.5 billion, and total assets approximately RMB 32.1 billion.

The controlling shareholder of Shandong Listco is Shandong Hi-Speed Group Co., Ltd. ("Shandong HSG"), which holds 60.66% of the shares of Shandong Hi-Speed. Shandong HSG is a wholly-state-owned enterprise ("SOE") headquartered in Jinan City, Shandong Province of the PRC.

From a financial perspective, the proposed transactions has positive financial effects on the Group and in particular, the Group's net tangible assets ("NTA") per share will increase from RMB cents 131.82 to RMB cents 155.51 (where retained interest in Ranken Railway is measured at fair value), and which the NTA of RMB cents 155.51 represents more than 5.6 times the closing price of the shares of the trading day prior to the date of this announcement; and (ii) a gain of approximately RMB 58 million (where retained interest in Ranken Railway is measured at fair value).

And given its status as an indirect SOE following the proposed transactions, Ranken Railway would be placed in a more favourable position to secure project contracts in the PRC, and may be able to enjoy lower interest rates on external borrowings from financial institutions.

In addition, Ranken Railway currently faces strong competitive pressure in tendering for projects in the PRC, with most of the projects it has tendered for awarded to SOEs. Hence, as an indirect and partial SOE, Ranken Railway will be able to tender for key infrastructure projects in the PRC which require contractors or vendors to be state-owned which it was previously ineligible to participate, in addition to projects which it could previously access as a privately-owned enterprise.

Ms Wang Heng, Chief Executive Officer of Sapphire, said, "While unlocking value for shareholders, we believe that this strategic divestment to Shandong Hi-Speed can significantly enhance the value and prospects of Ranken Railway with the combination of both companies' capabilities and resources to tap new market opportunities in urban railway infrastructure and water environmental management projects.

"And by retaining a meaningful stake in Ranken Railway, we have the opportunity to participate in the future growth of Ranken Railway as an indirect and partial state-owned- enterprise in the PRC.

"Notably, the gross cash consideration of RMB 280 million will give the Group's increased financial flexibility to strengthen our balance sheet and create optionality in our other business areas."


About Sapphire Corporation Limited
(Bloomberg Code: SAPP:SP / Reuters Code: SAPP.SI / SGX Code: BRD.SI)

Listed on the Mainboard of the Singapore Exchange since 1999, Sapphire Corporation Limited ("Sapphire" or the "Group") is an investment management and holding company with a business model aligned towards urbanisation trends. Particularly, the Group is principally engaged in the engineering, procurement and construction ("EPC") business related to the land transport infrastructure and water conservancy and environmental projects in China.

The Group owns a 100% stake in China-based EPC business Ranken Holding Co., Limited ("Ranken") and its subsidiaries, which is a full-edged EPC firm and one of the largest privately owned integrated urban rail transport infrastructure groups in China.

Ranken holds full Triple-A qualifications and licences for design, supervision, construction and project consultation in the urban rail sector. Ranken?s expertise includes civil engineering works for metro lines, urban rail transit, expressways, roads and bridges as well as water conservancy and environmental projects. Its track record includes major infrastructure projects in China and South Asia. Ranken's blue-chip customer clientele includes government agencies, consortiums and Fortune 500 companies.


Issued on behalf of Sapphire Corporation Limited by:
Waterbrooks Consultants Pte Ltd, Tel: +65 6958 8002
Mr. Wayne Koo, (M): +65 9338 8166, wayne.koo@waterbrooks.com.sg
Mr. Alex Tan, (M): +65 9451 5252, kai@waterbrooks.com.sg


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

ZALL Group Donates 1 Million Surgical Masks to Singapore Red Cross (SRC) in Support of Singapore’s Fight against COVID-19

SINGAPORE, May 23, 2020 – (ACN Newswire) – China-based ZALL Group (ZALL) has donated one million surgical masks to the Singapore Red Cross (SRC). The shipment arrived in Singapore yesterday from China on Singapore Airlines flight SQ8259, and was delivered by ezbuy.sg land transportation fleet. The goodwill gesture underscores the strong collaboration between the international community and Singapore corporations including Singapore Airlines (SIA), in supporting SRC's response efforts towards the vulnerable groups in Singapore – in particular the migrant workers, the elderly, and frontline workers – as they tackle the COVID-19 global pandemic. The donation is one of several humanitarian aid initiatives by ZALL to shore up preparedness and resilience of countries during the coronavirus outbreak.



Group photo of ZALL, Singapore Red Cross, Singapore Airlines. From left: Ms Charis Chan, Associate Director of Singapore Red Cross; Mr Lee Wei Hsien, Director of ZALL Group; Mr Peter Yu, CEO of ZALL Group International; Mr. Benjamin J William, Secretary-General from Singapore Red Cross; Mr Mohamed Rafi Mar, Vice President of Singapore Airlines Cargo; Ms Iris Chong, Director of Singapore Red Cross (Photo credit: ZALL Group)


ZALL Group donates one million masks to Singapore (handover). From left: Mr Peter Yu, CEO of ZALL Group International, and Mr. Benjamin J William, Secretary-General from Singapore Red Cross (Photo credit: ZALL Group)


Surgical masks being loaded onto the Singapore Airlines flight at the Shanghai Pudong International Airport (Photo credit: Singapore Airlines)



"The Singapore Red Cross is grateful to the ZALL Group for its donation of one million surgical masks in support of the vulnerable groups in Singapore. The masks are a precious resource, and we will be distributing them to thousands in these vulnerable groups. The masks will also help protect our frontline staff and volunteers as they serve the most vulnerable in our community, like the elderly living alone, the severely disabled in our Red Cross Home for the Disabled and the migrant workers living in the dormitories. I am glad that corporates like the ZALL Group have stepped forward to help boost our COVID-19 local response efforts," said Mr Benjamin William, Secretary General/CEO, Singapore Red Cross.

"Singapore Airlines plays an important role in transporting essential medical supplies and other equipment that support Singapore's battle against the Covid-19 pandemic. We are pleased to work with ZALL on this initiative, which helps to increase the supply of face masks and safeguards the general public health," said Mr Chin Yau Seng, Senior Vice President Cargo, Singapore Airlines.

ZALL Group, Asia's leading business-to-business ("B2B") e-commerce group, was the first company to respond and deliver emergency medical supplies to Wuhan on 26 January within 48 hours of the city's lockdown, riding on their global end-to-end supply chain capabilities, networks and resources in Asia. As the coronavirus outbreak widened rapidly in Asia and around the world, ZALL further expanded its manufacturing capabilities to produce face masks, with a production capacity of more than three million masks a day, and has worked with governments, embassies and civil aviation authorities across Asia to provide medical aid and equipment to curb the spread of the virus. The Group recently also partnered Alibaba to launch two ebooks to share their knowledge and experience on Fangcang shelter hospitals and emergency hospitals that has been published in more than 20 different languages to empower governments around the world in their fight against COVID-19.

Singapore is the first country outside China that ZALL is providing medical supplies, and the Group will be supplying Singapore, including this donation, with a total of more than 2 million surgical masks this month. ezbuy.sg, a subsidiary of the Group, has also donated and distributed over 300,000 masks to all people living in Singapore via http://www.ezbuy.sg/getmask/. To date, 100,000 families have received masks from ezbuy.sg. Beyond Singapore, ZALL will also be sending medical supplies to other affected regions across more than 10 countries around the world, such as Japan, France, Czech Republic, Indonesia, India, Peru and Ecuador, as well as Central and West African countries, including Cameroon, Congo, Nigeria, Niger, Mali, and Burkina Faso.

Mr Peter Yu, Chief Executive Officer of ZALL Group International commented, "Singapore is an important market in our long-term growth strategy as we continue to grow our investments in the region. The severity of the coronavirus outbreak requires everyone to play a part to alleviate the crises, and we are committed to supporting Singapore's efforts to fight the outbreak. We will also leverage on Singapore's strengths as a regional hub and its excellent connectivity with the rest of the world to provide assistance through Commodities Intelligence Centre (CIC), ezbuy.sg and our technology-enabled ecosystem to areas where there are shortages in medical aid and equipment."

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

About ZALL Group

ZALL Group is a leading Chinese B2B e-commerce group (ranked 166th of Fortune China 500 companies) with a global footprint across the world and is listed on three exchanges on HKSE, NYSE and SSE. ZALL Group develops and operates Asia's largest B2B offline-to-online trade ecosystem in China and Southeast Asia, including Singapore, with more than 30 B2B platforms in China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL Group achieved a GMV of more than RMB 600 billion (US$85.2 bn), serving over 1 mil SME customers worldwide. ZALL also has a virtual banking licence and currently operates Z-Bank in China since 2017, one of China's leading digital banks that has supported more than 5.5 million SME and individual customers. For more information, please visit http://en.zallcn.com/

About ezbuy.sg

ezbuy.sg is Singapore's first home-grown and largest cross-border B2C shopping platform managed and owned by LightInTheBox Holding Co., Ltd, a global e-commerce company listed in New York Stock Exchange (NYSE: LITB). ezbuy.sg offers an extensive selection across various product categories, including fashion, home & living, mother & kids, consumer electronics, beauty & health, office supplies, sports & outdoors and automotive, that provides the most convenient and cost-saving way to bring products from China, USA, Taiwan, and Korea to every Singaporean. For more information, please visit https://ezbuy.sg/

About the Singapore Red Cross

Singapore Red Cross is a homegrown humanitarian organisation, dedicated to relieving human suffering, protecting lives and dignity, and responding to emergencies since 1949. We serve the vulnerable through our blood donor recruitment programme, home and day activity centre for the disabled, transport aid, family life aid, and community first aid. We build capacity and resilience through our training academy, and volunteer and youth development. Beyond our shores, we mobilise and translate contributions from the donor community to relief and recovery, rehabilitation and reconstruction efforts, with the aim of helping communities affected by disasters. For more information, please visit https://redcross.sg/.

About Singapore Airlines

The SIA Group's history dates back to 1947 with the maiden flight of Malayan Airways Limited. The airline was later renamed Malaysian Airways Limited and then Malaysia-Singapore Airlines (MSA). In 1972, MSA split into Singapore Airlines (SIA) and Malaysian Airline System. Initially operating a modest fleet of 10 aircraft to 22 cities in 18 countries, SIA has since grown to be a world-class international airline group.

SIA is the world's most awarded airline, and is committed to the constant enhancement of the three main pillars of its brand promise: Service Excellence, Product Leadership and Network Connectivity. The SIA Group fleet and network have expanded in support of the development of its portfolio strategy, in which it has investments in both full-service and low-cost airline operations. This portfolio of airlines serving short-, medium- and long-haul markets gives the SIA Group more flexibility and nimbleness, with the right vehicles to serve the right markets.

In 2018, Singapore Airlines launched the world's longest commercial flight, with non-stop services between Singapore and New York, as well as non-stop services between Singapore to Los Angeles, and increased non-stop services to San Francisco, using the new Airbus A350-900ULR (ultra-long-range). In September 2019, Seattle became the fifth US city in Singapore Airlines' route network – and the fourth to be served non-stop from Singapore.

SIA has invested in new-generation passenger aircraft, which means that it has one of the youngest airline fleets in the world. Operating these fuel-efficient aircraft such as Airbus A350s and Boeing 787s allows SIA to substantially reduce its carbon emissions, and support its goal of operating a more sustainable business.

For Media Queries
PRecious Communications for ZALL Group
T: +65 915 20086
E: ZALL@preciouscomms.com

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

ZALL Foundation partners Alibaba to launch ebook on Fangcang shelter hospitals in the fight against COVID-19

SINGAPORE, Apr 24, 2020 – (ACN Newswire) – ZALL Foundation, in partnership with the Jack Ma Foundation and Alibaba Foundation has launched an ebook on Alibaba's Global MediXchange to help governments and front line medical professionals set up and operate 'Fangcang shelter hospitals' to empower countries around the world in their fight against COVID-19. Fangcang shelter hospitals are large-scale, temporary hospitals, rapidly built by converting existing public venues, such as stadiums and exhibition centres, into health-care facilities. They were first implemented in Wuhan in February and played an important role in China's fight against COVID-19.







ZALL Group was among the first to help set up emergency hospitals in China, at the onset of the outbreak. It has set up seven emergency hospitals in Wuhan, Huanggang and Suizhou cities of Hubei, and three Fangcang shelter hospitals in Wuhan, comprising more than 9,500 beds to take in and treat patients infected with the coronavirus. Two of the first three Fangcang Shelter Hospitals set up in Wuhan were redeveloped by ZALL Group Property from existing buildings, while ZALL Foundation was responsible for the provision of essential medical supplies and logistical support to facilitate the running of these shelter hospitals. In total, the two shelter hospitals have been instrumental in diagnosing, treating and curing 3,663 patients.

Mr Yan Zhi, Founder of ZALL Foundation commented, "Drawing from our practical experience in containing COVID-19, Fangcang shelter hospitals could be powerful components of national responses towards COVID-19, as well as future epidemics and public health emergencies. We have prepared this resource to share our knowledge and experience on the operation of Fangcang shelter hospitals so that we may better support countries around the world to build and operate the Fangcang as soon as possible to collectively contribute towards global efforts to fight against COVID-19."

Mr Yan's sentiments echoed an earlier statement from Jack Ma, Founder of Jack Ma Foundation, who had said: "Hospitals in outbreak countries are facing huge challenges coping with the surge of patients. At this moment, we can't beat this virus unless we eliminate boundaries to resources and share our know-how and hard-earned lessons."

Under the medical expertise and guidance of Professor Wang Chen, this ebook encompasses knowledge and experience distilled from the running of these Fangcang shelter hospitals, and will cover five important aspects, namely the proposal, design, renovation, operation and logistical support for shelter hospitals. This ebook aims to be a useful reference for epidemic prevention and control work in regions around the world.

Currently, the ebook has been published in English and Mandarin, and will be translated by volunteers from all over the world into more than 20 different languages.

To download the ebook, please visit: https://covid-19.alibabacloud.com/

About ZALL Group

ZALL Group is a leading Chinese B2B e-commerce group (ranked 166th of Fortune China 500 companies) with a global footprint across the world and is listed on three exchanges on HKSE, NYSE and SSE. ZALL Group develops and operates Asia's largest B2B offline-to-online trade ecosystem in China and Southeast Asia, including Singapore, with more than 30 B2B platforms in China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL Group achieved a GMV of more than RMB 600 billion (US$85.2 bn), serving over 1 mil SME customers worldwide. ZALL also has a virtual banking licence and currently operates Z-Bank in China since 2017, one of China's leading digital banks that has supported more than 5.5 million SME and individual customers. For more information, please visit http://en.zallcn.com/

For media enquiries
ZALL@preciouscomms.com
+65 9794 1390 or +65 9152 0086

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

NIU Technologies Reports Q4 and FY2019 Financial Results: Revenues Up 40.5%

BEIJING, Mar 16, 2020 – (ACN Newswire) – NIU Technologies ("NIU"; NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, announced financial results for the fourth quarter and full year ended December 31st, 2019.

Revenues and Net Income Grow Four Consecutive Quarters

Driven by the increased sales volume up 13.5% and increased revenues per e-scooter up 10.5%, revenues for the fourth quarter of 2019 reached RMB 536.1 million, an increase of 25.4% YoY. The fourth quarter 2019 was profitable with net income of RMB 60.7 million, compared with a net loss of RMB 32 million in the fourth quarter 2018. The company has now been profitable for four consecutive quarters.

For the full 2019 financial year, NIU's net revenues were RMB 2.0763 billion, an increase of 40.5%, which was mainly driven by increases in e-scooter sales volume of 24.1% and net revenues per e-scooter of 13.2%. China represented 85.1% of net revenues from e-scooter sales, and overseas markets represented 14.9%. The full year's net income was RMB 190.1 million, which is an increase of RMB 539.1 million from a net loss of RMB 349 million in 2018.

Continued Growth Across Overseas Market

As a leading provider of smart urban mobility solutions, NIU has been improving its products and building further growth in overseas markets.

In December 2019, NIU's new manufacturing facility in Changzhou commenced operation. The new facility covers about 75 acres and has a designed capacity of 700,000 units per annum. In the fourth quarter of 2019, NIU's international sales network expanded to 29 distributors covering 38 countries.

In addition, in January 2020, NIU launched two new products, the RQi-GT and TQi-GT. The RQi-GT is NIU's first urban performance electric motorcycle and the TQi-GT is NIU's first electric three-wheeler vehicle.

So far, global users of NIU have exceeded 1 million with a cumulative rider distance of 4.5 billion kilometers. NIU has also contributed to cumulative carbon emission reductions of 1.14 million tons, which is the equivalent to planting 57 million Saxaul. It demonstrates NIU's commitment to corporate social responsibility and "providing more convenient and environmentally friendly transformative urban travel transportation for global users".

The company has been monitoring the Coronavirus pandemic very closely. Since the restart of operations, NIU has implemented safety measures such as daily disinfection of retail locations, factories and corporate offices to ensure the well-being of our customers and employees. The company is also aware of the potential economic damage towards the global economy and the confidence of consumers. NIU has implemented new campaigns to expand its online sales by working with online retail partners in both China and overseas market.

Dr. Yan Li, CEO of NIU said "we delivered solid revenue growth and improved gross margin. The Company continued to operate profitably. We are very excited about the growth perspective of our business and are committed to expanding our production capacity to meet the increasing demand. We look forward to sustaining the growth of our business."


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