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Telecom Digital Transfers Listing from GEM to Main Board of SEHK

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Telecom Digital has successfully transferred listing from GEM to the Main Board of HKSE. (from left to right) Mr. Cheung King Fung Sunny, Chief Executive Officer & Executive Director, Mr. Cheung King Shek Alex, Chairman and Executive Director of Telecom Digital Holdings Limited, Mr. Alex Arena, Executive Director and Group Managing Director of HKT, Mr. Cheung King Shan Billy, Executive Director and Mr. Cheung King Chuen Bobby, Executive Director of Telecom Digital Holdings Limited


HONG KONG, May 10, 2017 - (ACN Newswire) - Telecom Digital Holdings Ltd ("Telecom Digital" or the "Company"; SEHK: 6033) announced that its shares commenced trading today on the Main Board of the Hong Kong Stock Exchange under the new stock code 6033. The Company's shares were previously listed and last traded on GEM (stock code: 8336) yesterday (9 May 2017).

Telecom Digital and its subsidiaries (the "Group") is one of the leading comprehensive telecommunications service provider in Hong Kong. The Group mainly operates telecommunications and related business, including retail sales of mobile phones of various brands and pre-paid SIM cards, distribution of mobile phones and related business, provision of paging and other telecommunications services and provision of operation services to SUN Mobile. The Group has been actively expanding its retail and operation business. As at end of April 2017, it runs a total of 69 shops. Building on its extensive shop network, the Group affords a wide exposure to potential customers and is also able to effectively promote its services and provide convenient, efficient and quality services to customers.

The Company recorded a 3.4% increase in profit attributable to the owners to HK$89.7 million for the year ended 31 March 2016 as compared with the previous year. For the nine months ended 31 December 2016 compared with the corresponding previous period, the Group's profit attributable to the owners climbed 15.5% to HK$72.4 million, reflecting mainly the increase in operating service income. The Company has declared a total dividend of HK0.1 cent for the financial year 2015/16, representing a dividend payout ratio of 45.45%.

Mr. Cheung King Shek Alex, Chairman and Executive Director of Telecom Digital Holdings Limited, said, "The listing of Telecom Digital on the Main Board of SEHK today marks another important milestone in the company's development. We believe transferring to the Main Board will enhance the Group's profile, strengthen public and investor recognition of our business as well as improve the trading liquidity of our shares, and give us financing flexibility, all of which will benefit future growth of the Group. We see and aim to capture opportunities that can enable us to grow our business and create long-term value for shareholders."

Looking ahead, to diversify its business, the Group will study the feasibility of engaging in e-commerce in Hong Kong. The Group plans to develop an e-commerce platform accessible via the Internet, mobile apps, multi-media terminals at its shops and other online to offline networks. Its hope is, that on the back of its extensive shop network and proven logistics system, it will be able to create synergies and generate revenue from B2C operations, and thereby drive the Group?s continuous growth.

The Group has been working closely with various telecommunication-related services providers for many years, including with HKT Limited ("HKT"; stock code: 6823), and Mr. Alex Arena, Executive Director and Group Managing Director of HKT, who attended today's listing celebration dinner.

Telecom Digital has partnered with HKT in operating SUN Mobile, and has benefited from the synergies generated from such ties, consequently making steady strides in the market. With the listing of Telecom Digital on the Main Board of the Hong Kong Stock Exchange, the Group is confident in accelerating its development in the new capital platform, and thereby elevate its business to new heights.

About Telecom Digital Holdings Limited (Stock code: 6033)
Telecom Digital, one of the first paging operators in Hong Kong, was founded in 1974. In the past over four decades, the Group has been operating retail sales and distribution of mobile phones in Hong Kong and provision of paging and other telecommunications services in Hong Kong and Macau and it is also providing operation services to SUN Mobile. The Group has its own paging and Mobitex-based network system, a network of 69 shops and a logistics team comprising 28 staffers and 13 trucks in Hong Kong as at end of April 2017.

For more information about Telecom Digital, please visit: http://www.telecomdigital.cc/

Media Enquiries:
Strategic Financial Relations Limited
Iris LEE +852 2864 4829 iris.lee@sprg.com.hk
Joanne LAM +852 2864 4816 joanne.lam@sprg.com.hk
Rachel WONG +852 2864 4873 rachel.wong@sprg.com.hk



Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Judges in the Court of Appeal to decide if BNP Paribas has breached Singapore banking regulations

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SINGAPORE, May 11, 2017 - (ACN Newswire) - Singapore's highest court will decide tomorrow morning, Friday 12th May, whether investors should have the right to hold banks based in Singapore to account. BNP Paribas are attempting to ignore Singapore's banking regulations, with respect to a multi-billion dollar merger. The case will set an important legal precedent regarding investor rights and the extent to which multi-national banks can 'opt out' of Singaporean law.

Legal proceedings were brought by a number of BNP clients, including the prominent Israeli-British businessman Jacob Agam, who questioned the validity of BNP's bank's $16 billion merger with its Singapore arm, BNP Wealth Management. The merger was invalid as two parts of BNP's business merged without seeking prior consent from Singapore's main financial authorities - the High Court of Singapore and the Singaporean Finance Minister. Permission from both authorities has long been required under multiple sections of the Singapore Banking Act.

The case was first heard by the Singapore International Commercial Court on 17 February 2017, which upheld the controversial merger on the basis that BNP had complied with French banking law, rather than the relevant Singaporean financial regulations.

If Singapore's highest court, the Court of Appeal, decides to uphold the contentious SICC decision this week, there will be significant ramifications for Singapore's multi-trillion dollar financial services industry and for local as well as foreign investors who hold assets with banks based in Singapore.

Mr. Agam commented "The Singapore authorities need to ensure that depositors and investors, both locally and internationally, are protected when investing in banks based in Singapore. There needs to be a dependable system of regulation in Singapore. If the judiciary decide to uphold the SICC decision, they will be telling the world that banks based in Singapore can ignore Singaporean law with impunity, and will become the only country in the world where big banks can pick and choose whether they will be regulated."

The appeal will be heard at 10:00AM SGT in the High Court of the Republic of Singapore (Court of Appeal) by Chief Justice Sundaresh Menon, Judge of Appeal Judith Prakash and Justice Dyson Heydon.

For media enquiries, please contact:
Luke Chauveau, Bell Pottinger
lchauveau@bellpottinger.com

Nikhita Sethi, Bell Pottinger
nsethi@bellpottinger.com


Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

13th Shenzhen Cultural Industries Fair - China Animation Sub-venue Opens to Visitors Today

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China Animation's "World-leading Theme Park" Presents New Experience, New Entertainment and New Culture and Creativity

Shenzhen, May 11, 2017 - (ACN Newswire) - China Animation Characters Company Limited ("China Animation" or "the Group;" stock code: 1566.HK), a leading multimedia animation enterprise, announced that the Sub-venue of the 13th China (Shenzhen) International Cultural Industries Fair ("ICIF") at the Longgong China Animation Creative Industry Park ("China Animation Industry Park") is open from 3 p.m. today to 15 May. The Sub-venue event is presented as a "World-leading Theme Park that presents New Experience, New Entertainment and New Culture and Creativity". The theme park has three major feature areas, namely CA SEGA JOYPOLIS, CA SEGA VR and CA SEGA Wonder Forest, on top of Super IP, eight special highlights and 12 other creative activities.

Three World-leading Theme Parks + Super IP Develop Hand-in-Hand Leading the Trend

In January 2017, China Animation acquired controlling stake in CA SEGA JOYPOLIS LTD. in Japan, which saw it become a world-leading developer and operator of indoor amusement parks and owner of the world's No.1 large-scale indoor amusement park SEGA JOYPOLIS in five major cities, namely Tokyo, Shanghai, Osaka, Qingdao and Dubai. China Animation has developed four industry-leading segments: top indoor amusement park - CA SEGA JOYPOLIS, top indoor amusement park for kids - CA SEGA Wonder Forest, virtual reality theme park - CA SEGA VR, as well as the business that covers all aspects, main and peripheral, of the entire IP-protected animated game industrial chain.

JOYPOLIS Tokyo under CA SEGA has 21 years' history and had entertained close to 20 million visitors. The other four JOYPOLIS together receive more than 5 million visitors a year. Shanghai JOYPOLIS is exclusively operated by China Animation and was opened at Shanghai Global Harbour on 6 February 2016. Spanning 8,500 sq.m., it offers more than large-scale and medium to small-scale amusement amenities, former more than 20 and latter more than 180.

China Animation has developed several dozens of original VR games such as Violet's Dream, Han Ba Gui and upgrades them continually. Tokyo JOYPOLIS homes the only VR game center in Asia commercially operated by Zero Latency VR in Asia. This attraction prides a full house every day and those who wish to have an experience have to make reservation. Zero Latency VR, which has its roots in Australia and the US, is the world's first immersive VR multi-player game that can give players the most realistic VR action experiences.

CA SEGA Wonder Forest is designed for the family with kids. It was rated "The Most Popular Merchant" in the US in 2016 by the public. Its first amusement park opened on 1 January 2015, followed by the next of 1,100 sq.m. on 29 July 2016.

China Animation owns the intellectual property (IP) rights to a number of renowned animation characters, including two of China's Top 10 Cartoon Characters, namely "Hanbagui" and "Violet", as well as the films and animation TV dramas including "The King of Tibetan Antelope", "Rabbit & Tortoise", "Animal Conference on the Environment" and "Amazing UU". It also owns all copyrights of the internationally famous IP "Aoki Lapis" in Asia and works closely with a number of major IP brands around the world (such as Transformers in the US, SEGA's SONIC the Hedgedog, and Initial D, etc.).

China Animation Signs Agreements with Overseas China Town (OCT) and Yitian Group on Theme Parks Related Cooperation

At the opening ceremony of the Sub-venue event, China Animation and several China's leading property companies, such as OCT and Yitian Group, signed agreements on theme parks related cooperation, entailing the introduction of CA SEGA's JOYPOLIS, and VR and Wonder Forest theme parks to first-tier cities such as Beijing and Shenzhen.

China Animation will also cooperate with the Dingxing County People's Government in Hebei to build a China Animation Culture and Creative Theme Park, with the aim of developing an international cultural brand for Dingxing County in line with the country's Beijing-Tianjin-Hebei integration aspiration and the national development strategy for the Xiong An New Area.

Presents 12 innovative activities that promise new experience, new entertainment and new culture and creativity

At this year's ICIF, the Longgong China Animation Creative Industry Park Sub-venue displays fully the CA SEGA JOYPOLIS LTD. concept. More than a dozen industry-leading VR game devices grouped under the space, military, cross-country and [extreme action] series are availed to the public in the CA SEGA VR Theme Zone. The "Internet + VR Game Contest" that adopts e-game model the first time is another eye-catching event. It ranks players on the spot and players compete on speed to win grand prizes.

The Group also focuses on developing CA SEGA Wonder Forest. It launched numerous projects featuring innovative concepts and hip and cool technologies under the Wonder Forest brand at the event. They included AI smart + digital gallery, traditional + digital interactive ocean world, smart + digital interactive orb and small smart amusement park, etc. The AI smart + digital gallery integrates AR, MR and VR technologies and supports switching of use of the technologies in the three scenes of Wonder Forest, Wonder Ocean and Abstract World, allowing children to vividly feel as if immersed in the world of drawing. These activities will not only help youth grasp up-to-date creative culture and technological innovation, but will also give memorable fun experiences to families.

The China Animation theme park stays fresh and innovative at all times. It not only has CA SEGA's JOYPOLIS, VR and Wonder Forest connected with Super IP to present special activities. It also offers a number of green and low carbon digital creative activities including ones specially designed for animation lovers and fans. The re-created series featuring the Group's virtual artist "Violet" is one example. It includes the "The Most Beautiful Violet" animation Coser competition, the 3rd "Violet Recreation Contest", "Dream Drama with Mixed Reality Technology", real animation characters capture system and AR and MR technology demonstration. In addition, the Group also takes care of the preferences of parents and children by setting up in the venue the youth creative animation market, animation cultural street, international animation trade fair and 4.0 creative headquarters, etc. At the same time as it promotes the culture + creativity and culture + platform concepts, the Group is also driving development of the digital economy.

The China Animation Sub-venue event connects and interacts with the main venue and other sub-venues. With the support of the Longgang Street Office, three free shuttle bus routes are arranged between the main venue Shenzhen Convention and Exhibition Center, Dayun Metro Station, Longyuan and New Crane Lake Residency to serve visitors to the ICIF.

Mr. Jason Zhuang, Chairman, CEO and Executive Director of China Animation, said, "China Animation has been relentless in driving development of China's cultural industry and for the eighth consecutive years presented the Longgang China Animation as a Sub-venue event at ICIF. Different from in the past seven years, this year's event focuses on international brands, a presentation that transcends previous formats. In 2017, the Group will be presenting new experience, new entertainment and new culture and creativity building on its the three major theme parks and Super IP, and take its multimedia animation business to new heights."

About China Animation Characters Company Limited
China Animation Characters Company Limited is the first multimedia animation enterprise in China to list on the Main Board in Hong Kong (stock code of HK.1566). In January 2017, the Group acquired controlling stake in CA SEGA JOYPOLIS LTD. from Japan and become a world-leading indoor theme park operator with R&D capabilities and owns SEGA JOYPOLIS, the world's number one large-scale indoor theme park, in Tokyo, Shanghai, Osaka, Qingdao and Dubai. The Group has also four industry-leading business segments including top indoor theme park - CA SEGA JOYPOLIS, top children's amusement park - CA SEGA Wonder Forest, virtual reality theme park CA SEGA VR and the business the business that covers all aspects, main and peripheral, of the entire IP-protected animated game industrial chain.

China Animation owns the intellectual property rights to a number of popular animation characters including two top 10 national cartoon characters - "Han Ba Gui" and "Violet", as well as characters from movies and animated dramas such as "The King of Tibetan Antelope", "Project Egg", "Animal Conference on the Environment" and "Amazing UU". The Group also owns all the copyright to the well-loved overseas IP "Aoki Lapis" in Asia and enjoys close cooperative relationship with many world-leading IP brands such as "Transformers" in the US, SEGA Sonic the Hedgehog, Initial D and Crayon Shin-chan, etc.

Virtual artist "Violet" is an animation star and Super IP created by China Animation. The Group has held in a number of 3D Holographic Concerts for Violet in Shenzhen and Hong Kong since 2015.

Media enquiries
China Animation Characters Company Limited
Ms. Xiao Juan Tel: (86) 136 0300 4649
Ms. Wu Qing Tel: (86) 159 8953 6791

Strategic Financial Relations (China) Limited
Ms. Anita Cheung Tel: (852) 2864 4827
Ms. Karen Li Tel: (852) 2864 4837
Ms. Phoenix Fung Tel: (852) 2864 4850
Ms. Mina Pang Tel: (852) 2864 4830
Ms. Angel Li Tel: (852) 2114 4954
Email: sprg-animation@sprg.com.hk



Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Northern New Energy Announces 2017 First Quarter Results

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Strives to Acquire Potential New Energy Enterprise to Consolidate the Group's Strengths

HONG KONG, May 11, 2017 - (ACN Newswire) - Northern New Energy Holdings Limited ("Northern New Energy" / the "Group;" stock code: 8246) has today announced its first quarter results for the three months ended 31 March 2017. Building on the strong momentum gathered in 2016, the Group continued to take New Energy Business as its development focus in the first quarter of 2017 and made satisfactory progress. New Energy Business recorded a notable increase in revenue, rose by 25% comparing to the corresponding period of last year and becomes its major source of profit for the period.

For the three months ended 31 March 2017, revenue of the Group amounted to RMB22.0 million (Corresponding period in 2016: RMB 24.3 million). The decrease was mainly due to a decline in revenue of Catering Business during the Current Period. Basic earnings per share were RMB 0.01 cents (Corresponding period in 2016: RMB 0.07 cents).

During the period under review, the Group sought to capture the tremendous business opportunities in New Energy Business, and at the same time, the Group has been exploring opportunities to cooperate with different parties with the aim of broadening its income source. Boasting its technological advantages and outstanding professional services, the Group completed several service contracts smoothly in Tianjin region, including contracts for technical services in relation to LNG-based energy conversion solution and low-carbon heating energy supply solution that complies with government environmental protection requirements, etc. These projects brought important revenue and profit to the Group in the first quarter and also bolstered the reputation of Northern New Energy. The Group looks forward to serving more customers in other regions in the future. Although the first half of the year is usually the low season for the industry, the Group used the period to enhance its teams by way of recruiting new staff, thus enabling us to seize greater opportunities ahead. In addition, the Group applied for tax concessions from relevant departments in Tianjin as the Group believes that it complies with applicable requirements, which will create a positive effect on the Group.

Looking ahead, on the back of favorable national policies supporting the new energy industry, the Group will continue to step up efforts to tap the new energy segment with immense potential and expand our business mode to surrounding regions of Tianjin base. The Group will continue to actively identify and cooperate with competent partners to enlarge our customer base, market share and thus revenue. The management will also exert its best in seeking potential acquisition opportunities, which including looking for acquisition targets among enterprises which own quality LNG pipelines, storage tanks and related systems. Such moves will enable us to fully realize the growth potential of New Energy Business. As for Catering Business, the Group will strive to restructure the business to improve its performance. Regarding property investment, the Group will continue to grab investment opportunities that promise to generate good returns, thereby secure for it a stable rental income source to aid its quest to create greater shareholder value.

Northern New Energy Holdings Limited
Northern New Energy Holdings Limited ("Northern New Energy") formerly known as Noble House (China) Holdings Limited, is a company listed on the GEM Board of the Hong Kong Stock Exchange since 2011 (stock code: 8246). In 2015, the Group has established a joint venture company Hua Xia Northern New Energy Technology Development (Tianjin) Limited with an independent third party, and began its business in the development of new energy, R&D of related technologies and construction engineering. The Group is also engaged in the operation of restaurants, provision of management services, and sale of processed food and seafood. In 2015, the Group has further diversified its business into property investment.

Media enquiries
Strategic Financial Relations Limited
Keris Leung +852 2864 4863 keris.leung@sprg.com.hk
Fanny Yuen +852 2864 4853 fanny.yuen@sprg.com.hk
Jeffrey Tam +852 2864 4858 jeffrey.tam@sprg.com.hk



Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Environment benefits from large middle class in some Asian countries

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South-East Asia and Oceania. (Credit: 1xpert /123rf)
A large middle class in Thailand and Indonesia is demanding more environmental protection; something not happening in other developing South-East Asian nations.

Selangor, Malaysia, May 12, 2017 - (ACN Newswire) - A group of researchers in Malaysia found that more equitable income distribution is resulting in better environmental quality in Thailand and Indonesia. However, in Malaysia, it has the opposite effect, while the two factors are unrelated in the Philippines.

The research team, led by Abdul Rahim Ridzuan, an economist at Universiti Teknologi MARA, analysed the effects of income inequality, economic growth, trade openness, domestic investment and energy consumption on carbon dioxide emissions in four South-East Asian countries from 1971 to 2013. They determined the importance of each factor using an analysis tool called an autoregressive distributed lag estimation.

They speculate that greater income equality enables a larger middle class to hold those in power accountable and demand policies that protect the environment. In contrast, when there is a greater economic gap, the rich have more influence than the poor on decisions that enable profits at the expense of the environment.

Even though Malaysia's middle class is growing, the country still relies heavily on fossil fuels, which leads to greater environmental degradation. This surprised the researchers since Malaysia has committed to sustainable development goals in its national policy.

Climate change is linked to a high acceleration in carbon dioxide emissions since the beginning of the 20th century. Historically, developed nations are responsible for the majority of emissions. But as other nations grow their economies and consume more energy, they too are poised to contribute more carbon dioxide to the atmosphere unless they pursue more sustainable development practices that limit emissions.

An inverse U effect has previously been used to describe the relationship between economic growth and environmental quality. Low income predicts poor environmental health. As income rises the environment improves, but only to a point.

While many confounding factors influence environmental quality, income distribution can now be considered while making sustainable development policy, the researchers conclude in their study recently published in the Pertanika Journal of Social Sciences & Humanities. They plan to continue studying the relationship in other countries, particularly those known to produce high quantities of carbon emissions.

For more information about this research, please contact:

Abdul Rahim Ridzuan
Faculty of Business Management
Universiti Teknologi MARA
Melaka City Campus
110 Off Jalan Hang Tuah, 75300 Melaka
Email: aimaz84@yahoo.com
Tel: +6016 2325 105

About Pertanika Journal of Social Sciences & Humanities (JSSH)

Pertanika Journal of Social Sciences & Humanities (JSSH) is published by Universiti Putra Malaysia in English and is open to authors around the world regardless of nationality. It is published four times a year in March, June, September and December. Other Pertanika series include Pertanika Journal of Tropical Agricultural Science (JTAS), and Pertanika Journal of Science & Technology (JST).

JSSH aims to develop as a pioneer journal for the social sciences with a focus on emerging issues pertaining to the social and behavioural sciences as well as the humanities. Areas relevant to the scope of the journal include Social Sciences - Accounting, anthropology, Archaeology and history, Architecture and habitat, Consumer and family economics, Economics, Education, Finance, Geography, Law, Management studies, Media and communication studies, Political sciences and public policy, Population studies, Psychology, Sociology, Technology management, Tourism; Humanities - Arts and culture, Dance, Historical and civilisation studies, Language and Linguistics, Literature, Music, Philosophy, Religious studies, Sports.

The journal publishes original academic articles dealing with research on issues of worldwide relevance. The journals cater for scientists, professors, researchers, post-docs, scholars and students who wish to promote and communicate advances in the fields of Social Sciences & Humanities research.

Website: http://www.pertanika.upm.edu.my/

The paper is available from this link: http://bit.ly/2r6ORQW

For more information about the journal, contact:

The Chief Executive Editor (UPM Journals)
Journal Division
Office of the Deputy Vice Chancellor (R&I)
IDEA Tower 2, UPM-MDTC Technology Centre
Universiti Putra Malaysia
43400 Serdang, Selangor
Malaysia.
Phone: +603 8947 1622 | +6016 217 4050
Email: nayan@upm.my

Press release distributed by ResearchSEA for Pertanika Journal.


Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

A Strong Start to 2017 - AAC Technologies Q1 Revenue up 66% and Net Profit up 72% YoY

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Driven by Strong Non-acoustic and Dynamic components, up 225% and 14% respectively YoY

HONG KONG, May 12, 2017 - (ACN Newswire) - AAC Technologies Holdings Inc. ("AAC Technologies" or "the Company", Stock code: 02018) has today announced its unaudited results for the three months ended 31 March 2017, reporting revenue of RMB4,215 million and net profit of RMB1,062 million. For details, please refer to the Results Announcement which has been published on the website of HKEx and the Company.

2017 First Quarter Highlights (unaudited):

- Most profitable Q1 in the Company's history;
- Revenue up 66% year-on-year with strong growth across core business lines;
- RF Mechanical and Haptics, the non-acoustic segment, grew 225% year-on-year, accounting for 52% of total sales;
- Dynamic components rose 14% year-on-year and delivered 45% of total sales;
- Gross margin and net margin improved 1.1ppt and 0.9ppt respectively compared to the corresponding prior-year quarter; and
- Earnings per share for Q1 up 72% year-on-year to RMB0.86.

BUSINESS REVIEW

AAC Technologies built on the momentum of last year with a strong start to 2017. During the January to March period, revenue was up 66% year-on-year to RMB4,215 million. This is the highest Q1 sales the Company has ever reported. Our industry-leading acoustic business delivered another quarter of growth domestically and internationally. Upgraded acoustic solutions with higher dollar-content drove dynamic components sales growth of 14% year-on-year, contributing 45% of total sales. In the non-acoustic segment, the Company enjoyed another robust performance this quarter. Sales of RF Mechanical and Haptics soared 225% year-on-year and accounted for 52% of total sales. Gross margin improved 1.1ppt year-on-year, rising to 41.6% because of a better product mix. Net profit grew 72% year-on-year amounting to RMB1,062 million, mainly driven by effective control of operating expenses. The management continues to aim for growth and continuous improvement, enabling outperformance of the market the Company operates in.

The first quarter is a seasonal quiet period following Christmas and Chinese New Year holidays with fewer ramp-ups and launches of new smart devices. For this first quarter of 2017, the Company's revenue declined sequentially by 27% against the strong fourth quarter results in 2016. Nonetheless, in this quarter, the Company received persistent encouraging market response to its upgraded acoustic solutions especially stereo and waterproof features. The Company continues to build a strong technology foundation for its non-acoustic segments. As in the previous quarter, in the first quarter the contributions from the non-acoustic business continued to exceed acoustics revenue.

The business fundamentals driving the Company are progressing in line with our expectations, and the performance this quarter demonstrates that the Company is on track to achieve its financial and operational objectives. We remain confident in our ability to successfully execute our long-term growth strategies by leveraging on our industry leading market position, our R&D and innovation capabilities, our unique technology solutions and our vertically integrated manufacturing operations. We strive to create shareholder value through disciplined management and financial prudence.

About AAC Technologies Holdings Inc.
AAC Technologies is a constituent stock of Hang Seng Index, Hang Seng Corporate Sustainability Index, Hang Seng (Mainland and HK) Corporate Sustainability Index, Hang Seng China(Hong Kong Listed) 25 Index, Hang Seng Composite LargeCap Index, Hang Seng Composite Industry Index (Information Technology), Hang Seng IT Hardware Index, MSCI China Index, MSCI China ESG Index and FTSE Hong Kong Index.

AAC Technologies is a total solution provider utilizing the latest miniaturized technology components across acoustic, haptics, RF wireless and optical segments. The Company is already an established leading global supplier of miniaturized acoustic components including a broad range of speakers, receivers and MEMS microphones. The Company delivers integrated solutions across multiple segments incorporating advanced proprietary technologies haptics vibrators, RF antennas and optical components. The Company's products are found in mobile devices such as smartphones, tablets, wearables, and PC notebooks. The Company is global in scope with research and development centers and has established sales offices in key markets serving a large number of geographically diverse customers in the mobile electronics market. www.aactechnologies.com

PAST PERFORMANCE AND FORWARD-LOOKING STATEMENTS
The performance and the results of operation of the Group as set out in this document are historical in nature and past performance is not a guarantee of future performance. This document may contain certain statements that are forward-looking or which use certain forward-looking terminologies. These forward-looking statements are based on the current beliefs, assumptions and expectations of the Board of Directors of the Company regarding the industry and markets in which it operates. Actual results may differ materially from expectations discussed in such forward-looking statements and opinions. The Group, the Directors, employees and agents of the Group assume (a) no obligation to correct or update the forward-looking statements or opinions contained in this results announcement of the Company; and (b) no liability in the event that any of the forward-looking statements or opinions do not materialise or turn out to be incorrect.

For any other enquiries, please contact:

AAC Technologies Holdings Inc.
Connie Chin
Head of Investor Relations
Tel: 852 3470 0079
Email: ConnieChin@aactechnologies.com

Ricky Man
Investor Relations Manager
Tel: 852 3470 0076
Email: RickyMan@aactechnologies.com

For press enquiries:
Strategic Financial Relations Limited
Vicky Lee Tel: 852 2864 4834 Email: vicky.lee@sprg.com.hk
Cecilia Shum Tel: 852 2864 4890 Email: cecilia.shum@sprg.com.hk
Antonio Yu Tel: 852 2114 4319 Email: antonio.yu@sprg.com.hk




Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Hong Kong-Shanghai Delegation Visits Thailand and Vietnam

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New Opportunities for Infrastructure Collaboration under Belt and Road

HONG KONG, May 12, 2017 - (ACN Newswire) - A Hong Kong-Shanghai joint infrastructure investment delegation visited Thailand and Vietnam this week to discuss cooperation and investment opportunities driven by growing intra-regional cooperation in Asia, especially under the Belt and Road Initiative.

The delegation, organised by the Hong Kong Trade Development Council (HKTDC) in association with the Hong Kong and Macao Affairs Office of the Shanghai Municipal People's Government, comprised some 40 investors and services professionals from Hong Kong and Shanghai. The delegates included those with interest and expertise in finance, consultancy, architecture, energy, waste and water treatment, engineering and construction, legal and accounting, transportation as well as other sectors.

- High-level discussions on infrastructure collaboration

During the 8-9 May Bangkok visit, the delegation was received by Thai Prime Minister General Prayut Chan-o-cha at the Government House, met with Thai Minister of Finance Apisak Tantivorawong, and participated in the "Thailand-Hong Kong-Shanghai Strategic Partnership on One Belt One Road" seminar organised by the Thai government. Senior Thai government officials including Deputy Prime Minister Dr Somkid Jatusripitakand and Minister of Industry Dr Uttama Savanayana spoke on topics such as Thailand's Eastern Economic Corridor development and the advantages of public-private partnerships. A memorandum of understanding (MoU) was signed between the Office of the Eastern Economic Corridor Development and the HKTDC.

On 10-12 May, the delegation went to Hanoi and Ho Chi Minh City, Vietnam to meet with Prime Minster Nguyen Xuan Phuc, and had a series of meetings with senior government leaders including Nguyen Chi Dung, Minister of Planning and Investment, Nguyen Hong Truong, Deputy Minister of Transport, and Nguyen Duc Chung, Chairman of Hanoi's Peoples Committee to promote closer partnership between Hong Kong, Shanghai and Vietnam in infrastructure development.

- The Hong Kong-Shanghai advantage

Speaking at the "Hong Kong and Shanghai: Your Infrastructure Investment Partner" seminars, held in Bangkok and Ho Chi Minh City on 9 and 11 May respectively, HKTDC Chairman Vincent HS Lo said, "Infrastructure is a priority not only in the Belt and Road Initiative, but also in the development plans of many countries in the Asia region. To facilitate investment opportunities for these large, long-term projects, we have joined forces with Chinese enterprises from Shanghai and the mainland to combine our talent and resources to explore opportunities in Thailand and Vietnam."

"The high-level meetings with the Prime Ministers of both countries gave us the opportunity to demonstrate the powerful proposition of this partnership to bring benefits to projects," added Mr Lo. "I am also excited to know that some of our delegates already have new leads to develop, while others made new contacts and acquired valuable information."

"Thailand and Vietnam are important participants in the Belt and Road Initiative, which offers business opportunities we have not seen before," said Zhou Yajun, Deputy Director General, Hong Kong and Macau Affairs Office of the Shanghai Municipal People's Government and an advisor to the delegation.

"Shanghai has many enterprises with strong experience in infrastructure, especially in the design, construction and management of overseas projects. These enterprises have also played a pivotal role in Shanghai's urban development. Hong Kong has an advanced financial system and a wealth of international professional talent," said Mr Zhou. "We are delighted that our complementary strengths can provide a rich platform that can open up an even wider scope of opportunities in infrastructure and related areas. I hope this is the beginning of long-term partnerships and rewarding business opportunities."

During the seminars, Hong Kong and Shanghai delegates representing the investment, financial and professional services sectors had in-depth discussions with Thai and Vietnamese project owners including the Industrial Estate Authority of Thailand (IEAT), the Thai Contractors Association (TCA), VTP Investment Group and Sunny World Property to exchange views and identify areas for cooperation in infrastructure investment.

Photo: 'On May 8, the Hong Kong-Shanghai joint infrastructure investment delegation was received by Thai Prime Minister General Prayut Chan-o-cha at the Government House.' Photo download: http://bit.ly/2pqoich.

About HKTDC

Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: https://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Contact:
Thailand: FleishmanHillard Thailand Yaninee Kasitaranon Tel: +66 2 207 9263; +66 85 842 3330 Email: yaninee.kasitaranon@fleishman.com Vietnam: Galaxy Communications Thi Minh Hong Tel: +84 4 3974 6116 Email: hongttm@galaxy.com.vn Hong Kong: HKTDC Communication and Public Affairs Department Joe Kainz Tel: +852 2584 4216 Email: joe.kainz@hktdc.org

Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Group Lease PCL (SET:GL) Reports Impressive Q1 Results

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BANGKOK, May 15, 2017 - (ACN Newswire) - Fast-growing SET-listed digital finance firm Group Lease PCL ("GL"; SET: GL) has reported impressive Q1 profits of 327.36 million baht, up 47.35% from the same period last year, on the back of improved performance in Thailand and most of the other regional markets in which the group operates.

This Q1 profit represents a new record high for the tenth consecutive quarter, up from the 324.40 million baht net profit in the last quarter of 2016.

In an official filing with the Stock Exchange of Thailand (SET) today (May 15), the company also disclosed that GL Holdings (GLH, a wholly-owned subsidiary in Singapore) resolved in a Board decision on May 9 to pay a US$9.99 million (about 346 million baht) dividend to GL within May 17. The dividend should provide a significant boost to the company's operating results in the current quarter.

Chairman of GL's Executive Committee Mr. Tatsuya Konoshita noted that the Q1 results could have been better if it had not been for the large investment expenses incurred to jump-start businesses in the two high-potential markets of Indonesia and Myanmar. "It was in the early phase and developmental stage of New Countries and New Products, but our business operations in this quarter made historical high profits," Mr. Konoshita stated.

Significantly, Mr. Konoshita said the Q1 financial statements were given a "clean" audit by the company's auditor Ernst & Young. As GL's management had stated before, there was no need for any provisions for bad loans to the company's two groups of major borrowers in Singapore and Cyprus or for impairment of GL's investment in the Sri Lanka-listed finance firm Commercial Credit & Finance (CCF).

There had been concern among some GL shareholders over the need to provide an impairment charge for GL's 29.99% stake in CCF since CCF's price on the Colombo Stock Exchange had fallen from the time of GL's acquisition. But Mr. Konoshita stressed that this was not necessary since CCF is a highly profitable company and GL treats this as a long-term investment. GL fully consolidated about 55.5 million baht profit of profit from CCF in the Q1 results.

The CCF profit contribution made up about 20% of GL's total Q1 profits while the bulk of the remaining 80% came from operations in Thailand and Cambodia with the three other markets of Laos, Indonesia and Myanmar making smaller contributions since operations there are still in an early stage.

Mr. Konoshita noted that Thailand operations are picking up after a slowdown for the past three years in accordance with company strategy. On the company's mainstay of motorcycle leasing, average monthly sales had risen from about 4,100 units in the first quarter last year to more than 4,500 units in the same period this year despite April being full of holidays as the company has increased the number of motorcycle contract dealers.

The Thailand business is also enhanced by a new addition to the hire purchase division for second-hand motorcycles which is taking off after being introduced on a trial basis over the past year.

Meanwhile, GL's operations in Cambodia have slowed down somewhat due to a drought which has affected the local economy, but sales of Honda motorcycles, Kubota agricultural machinery and solar panels are expected to pick up this year in light of more plentiful rainfalls.

Aside from motorcycle leasing, the company has also introduced "Asset-backed Loans" type of business in Cambodia as a new line of business whereby clients who already own motorcycles obtain financing by using their vehicles as collateral, Group Loans in Indonesia as new products and by new subsidiary in Myanmar.

Mr. Konoshita is bullish on the long-term growth potentials of the Indonesian and Myanmar markets where the group's operations are in the early stages of development.

While the sheer size of the Indonesian market (with a population of more than 250 million) offers enormous opportunities for various financial services, Mr. Konoshita is particularly upbeat on the prospect in Myanmar where GL recently obtained a five-year exclusive license to provide financing for Honda, similar to the exclusive deal for Honda in Cambodia.

The Myanmar market is estimated to be roughly one million motorcycle sales per year (more than three times the size of the Cambodian market), yet Honda currently only has a 10% market share or about 100,000 units since the brand entered the Myanmar market only recently. The bulk of the market is dominated by low-quality Chinese models.

"This means there is plenty of room for growth as Honda increases its market share to more than 50% in several years, and GL is the only finance company which can provide the financing for this market," Mr. Konoshita stated.

About Group Lease PCL

Group Lease Public Company Limited was established on 6th May 1986 and listed on the Stock Exchange of Thailand in 2004 (SET:GL). The company has expertise in hire-purchase of motorcycles, as it has been in the motorcycle leasing business for over 20 years, with motorcycle brands for financing including Honda, Yamaha, Suzuki, Kawasaki.

In 2007, the APF group became the major shareholder holding around 65% of total shares. In 2012, GL announced a long-term business plan to become the leading finance company in the Southeast Asian region. To do so, GL formed Group Lease Holdings Pte. Ltd. (GLH), a Singapore holding company, as headquarters for its expansion in other countries. For more information, please visit www.grouplease.co.th.

Contact:
Distributed for Group Lease Public Company Limited by M T Multimedia Co., Ltd. Orn-anong ("Fah") Pattaravejkul Tel: +66-2-612-2081 # 129 / Mobile: +66-86-884-4458 E-mail: ornanong.p@mtmultimedia.com Website: www.mtmultimedia.com

Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Hari Raya Light Up 2017 in Singapore to Deepen Kampung Spirit with New Larger-Than-Life Traditional Malay Icons

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Artist impression of the main arches at Hari Raya Light Up 2017
Artist impression of the sub arches at Hari Raya Light Up 2017
Artist impression of the wau installation at Hari Raya Light Up 2017
Artist impression of the stage fashioned after a kelong at Hari Raya Light Up 2017
Artist impressions of exhibition area at Hari Raya Light Up 2017
Ever-popular Geylang Serai Bazaar to return with over 1,000 stalls

SINGAPORE, May 16, 2017 - (ACN Newswire) - The annual Hari Raya Light Up 2017 in Singapore will return to Geylang Serai from 20 May to 7 July 2017, to delight local and international visitors with a visual extravaganza comprising over 900,000 LED light bulbs, and a month-long shopping fiesta.

Themed "Deepening the kampung spirit", the annual event will feature new larger-than-life installations fashioned after traditional Malay icons, and educational displays about Malay arts and culture. The ever-popular bazaar will also return with a wide array of food, snacks, and traditional Malay costumes and accessories. These will be complemented by free weekend performances and movie screenings.

Dr Teo Cheng Swee, Chairman of Hari Raya Light Up 2017 Organising Committee said, "Every Hari Raya Puasa, Geylang Serai is illuminated with brilliant light displays. While being a platform for commemorating Ramadan, the annual Hari Raya Light Up also provides an opportunity for local and international visitors alike to explore the precinct and understand more about the Malay culture in Singapore. We hope that this year's event will once again charm everyone who passes through Geylang Serai, with the myriad of exhibits and lively bazaar."

"The Hari Raya Light Up is one of Singapore's major festive attractions, adding colour to the vibrant Geylang Serai precinct and to Singapore as a whole. We are glad to continue supporting the event in providing a rich festive and cultural experience for Singaporeans and international visitors," said Mr Kenneth Lim, Director of Cultural Precincts Development, Singapore Tourism Board.

- Larger-than-life installations to acquaint visitors with Malay traditions

Over seven weeks, visitors will be treated to a visual feast of larger-than-life light installations modelled in the likeness of traditional Malay heritage icons.

Located along Sims Avenue and Changi Road, the centerpieces of Hari Raya Light Up 2017 will incorporate a kampung, as if welcoming visitors into a traditional Malay home of yesteryear. This will be complemented by leaf motifs designed like songket, a traditional Malay fabric made of hand-woven patterns. Additionally, other arches will feature words of blessings that Muslims often use during the holy month.

Other gigantic installations include a 4.4-metre tall wau (Kelantanese kite) which allows the curious to learn about the richness and diversity of Malay arts and culture, and a 12-metre wide kelong (offshore platform made of wood) and sampan (fishing boat) that will form the main stage area for weekly performances and movie screenings.

To educate members of the public about the history of Hari Raya and Geylang Serai, Hari Raya Light Up 2017 will feature a temporary exhibition, with a housing that mimics the weaves of a ketupat (rice dumpling). Visitors will be acquainted with Malay traditions during Ramadan and Hari Raya Puasa, the history of Hari Raya bazaars and the Malay community's spirit of gotong royong (co-operation).

Visitors will also get a blast from the past, in the form of a pop-up museum showcasing gongs, fishing boats, weaponry used by Malay nobles and traditional Malay games.

- Ever-popular Geylang Serai Bazaar to return 25 May to 24 June 2017

In conjunction with Hari Raya Light Up 2017, the annual crowd-pleaser, Geylang Serai Bazaar, will return from 25 May to 24 June 2017. Spanning the areas around Geylang Serai market, Joo Chiat Complex and along Haig Road, stalls will offer exciting snacks such as candyfloss burritos, poke bowls and rainbow planet ice-cream buns. Malay patrons preparing for Hari Raya Puasa can also find a wide variety of traditional costumes and decorations at the Geylang Serai Bazaar.

- Breaking fast with new citizens

Another highlight of the festivities is a mass break fast session on 17 June. For the first time, new citizens will be invited to break fast alongside the locals to better understand the meaning behind Hari Raya.

- Rich line-up of community events

To further enliven Geylang Serai during Hari Raya Puasa, cultural performances will be held near Kampong Kembangan Community Club every weekend between 20 May and 7 July 2017. Popular acts that will perform include Ramili Sarip - Singapore's very own "Papa Rock" - and other cultural groups well-versed in the kompang (traditional Malay percussion instrument) and Malay dance.

Movie buffs can also look forward to free screenings of popular Malay films by P. Ramlee, such as Laksmana Do Re Mi, Seniman Bujang Lapok, Pendekar Bujang Lapok and Ali Baba Bujang Lapok.

Additionally, a Cultural Heritage Race on 3 June 2017 will bring Malay traditions closer to participants, as they race around Geylang Serai to discover more about Hari Raya celebrations. The event is open to new citizens, locals and tourists keen to experience another aspect of multi-racial Singapore.

For more information about Hari Raya Light Up and its fringe activities, please visit: https://www.facebook.com/HariRayaLightUpSingapore2017/

Artist impressions of various displays are available here. http://bit.ly/2rl5eJu
Please credit them to "Hari Raya Light Up 2017".

For media queries, please contact:

Charlene Ho
Ninemer Public Relations P L
+65 6534 9909
charleneho@ninemer.com

Nur Atiqah M. Hatta
Ninemer Public Relations P L
+65 6534 9909
atiqah@ninemer.com


Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

International Medical Devices and Supplies Fair Opens

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Hong Kong International Medical Devices and Supplies Fair Opens
New Pavilions Present the Latest Equipment and Technology; Held Concurrently with Hospital Authority Convention

HONG KONG, May 16, 2017 - (ACN Newswire) - The eighth HKTDC Hong Kong International Medical Devices and Supplies Fair opened today at the Hong Kong Convention and Exhibition Centre (HKCEC). Organised by the Hong Kong Trade Development Council (HKTDC) and co-organised by the Hong Kong Medical and Healthcare Device Industries Association (HKMHDIA), the three-day fair (16-18 May) showcases the latest medical equipment, technology and related services, providing a one-stop business platform for the medical industry.

This year's Medical Fair welcomes a record 270 exhibitors from 14 countries and regions. The HKTDC has also organised 37 buying missions, bringing more than 1,400 buyers to the fair, including representatives of Ziwell Medical (S) PTE LTD and NTUC Unity Healthcare Co-operative Ltd from Singapore, ServiPlus Medical Equipment Inc from the Philippines, Malaysia's Felco Medical Supplies Sdn Bhd, and Health-Care Equipment from the United Kingdom.

"The aging population and increasing awareness of healthcare needs have resulted in a flourishing global demand for medical and healthcare products," said HKTDC Deputy Executive Director Benjamin Chau. "As technological advances are hugely important in the medical devices industry, there is also growing demand for new equipment for the medical industry. In response to the rapid development of the medical devices and healthcare industries, the Medical Fair is launching the new 'World of Healthcare' and 'Startup' zones. The Medical Fair also features a number of specialised products zones, including the 'Household Medical Products' zone and 'Rehabilitation and Elderly Care' zone, creating a comprehensive trading platform to help the industry grasp the rapidly growing medical supplies market."

- New pavilions present the latest equipment and technology

This year, the Medical Fair welcomes new group pavilions from the US State of Illinois, as well as from the Czech Republic, India and Poland's Wielkopolska region. An exhibitor from the United States is showcasing a professional ultrasonic fetal heart monitor and surgical equipment for gynecological cryotherapy. Returning pavilions include those from the Chinese mainland's Ningbo city, Pakistan and the HKMHDIA, which comprises about 30 companies. Exhibitors from Korea, Singapore and Thailand also made their debut at the fair, further enriching the variety of medical equipment and devices on show.

- Debut of "World of Healthcare" and "Startup" zones

Responding to growing awareness of the importance of personal health, the fair introduces the "World of Healthcare" to present healthcare products and services, including fitness products, health food and beverages, and nutritional supplements. The medical industry is also becoming a popular sector for entrepreneurs, with many start-ups developing new medical supplies and technologies in recent years. The "Startup" zone, which is being introduced at the Medical Fair this year, showcases the creativity of Hong Kong start-ups, allowing them to meet with buyers and potential business partners to explore new business opportunities. One of the start-ups offers an automated full bathing system with temperature control, surrounding water jets and warm-air drying, and features that reduce the risk of falls during a shower (Booth no: 3G-D23). Another start-up is showcasing a series of products for treating and relieving back pain (Booth no: 3F-J03).

- Special zones for quality medical equipment and technology

Organised into more than 15 specialised product zones for easy sourcing, the Medical Fair gathers a wide spectrum of medical and healthcare equipment and services. According to the United Nations, the total global population is estimated at around 7.5 billion people, with 960 million or 13 per cent of the total population who are aged 60 or above in 2017. To keep pace with rising demand in the "silver market," the Rehabilitation and Elderly Care zone showcases products and services for general care and rehabilitation after illness or injury among elderly people. Products include an exercise machine equipped with various muscle-training programmes that improve respiratory and cardiovascular system functions among patients with Parkinson's disease (Booth no: 3F-F15), as well as an innovative tank-top developed by the Hong Kong Polytechnic University, which features a bio-feedback system with multiple sensors used to treat scoliosis (Booth no: 3F-F09). As household medical products and services grow more popular, many companies have launched products specific to the household market. The Household Medical Products zone, another fair highlight, presents various household medical devices, including an electrocardiograph smart-watch band (Booth no: 3F-G03) that can facilitate immediate diagnosis and treatment of heart disease.

With new innovations in medical technology, there is growing demand for diagnostic and surgical equipment. The Hospital Equipment zone showcases specialist equipment and technology, including ultrasound and imaging tools, as well as a range of surgical instruments. The fair's Physiotherapy zone presents the latest physiotherapy equipment, devices and related services and products, including a therapy mattress, therapy light, physiotherapy plinth and physiotherapy massage equipment.

- Seminars to analyse market trends

To help industry professionals monitor the pulse of the market and expand their business networks, a series of seminars are being organised. Today's (16 May) events include a seminar on "The Hottest Trends Revolutionising the Medical and Healthcare Device Industries"; the Continuing Medical Education workshop on "Disease Prevention: Cervical Cancer and HPV Infection", co-organised with the Hong Kong Doctors Union; as well as the Continuing Nursing Education workshop, co-organised with the Hong Kong Health Care Federation. The Czech Republic pavilion, participating in the fair for the first time, will invite professionals to present an overview of the Czech medical market and their latest medical equipment and services tomorrow (17 May). Representatives from the Hong Kong Electrical Appliance Industries Association and Hong Kong Medical and Healthcare Device Industries Association will also speak at the seminar "Sparking Innovation: The Game Changers of the Healthcare Sector". The seminar on "Worldwide Medical Device Regulatory Updates" and the Continuing Medical Education workshop "Coronary Angioplasty: Update for Daily Clinical Practice 2017" will be held on 18 May.

Professor John Leong Chi-yan, Chairman of Hong Kong's Hospital Authority, was the officiating guest at today's networking reception (16 May). Offering added synergy with the fair, the Hospital Authority Convention 2017 (16-17 May) is expected to bring in more than 5,000 delegates, making it one of Asia-Pacific's largest events for medical professionals.

Hong Kong's total exports of medical and healthcare equipment reached HK$12.8 billion in 2016, an increase of 8.1 per cent over the previous year, with favourable growth in many markets such as the Chinese mainland, the US, ASEAN and the UK.

Hong Kong International Medical Devices and Supplies Fair: www.hktdc.com/hkmedicalfair

Product Highlights: http://bit.ly/2pqlIyN
Photo Download Link: http://bit.ly/2pfi92u

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

About HKTDC

Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: https://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Contact:
HKTDC Communication and Public Affairs Department Joe Kainz Tel: +852 2584 4216 Email: joe.kainz@hktdc.org

Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

VBG International Holdings Limited Announces Proposed Listing on the GEM of SEHK

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- Share Offer of 128,300,000 Shares at an Offering Price between HK$0.68 and HK$0.88 per Share
- To Raise a Total of Approximately HK$73.4 million

HONG KONG, May 16, 2017 - (ACN Newswire) - VBG International Holdings Limited, one of the leading financial services providers in Hong Kong, has announced the details of its proposed listing on the Growth Enterprise Market (the "GEM") of the Stock Exchange of Hong Kong Limited (the "SEHK").

VBG International intends to issue a total of 128,300,000 shares, of which 90%, or 115,470,000 Shares are offered under the Placing (subject to reallocation), and the remaining 10%, or 12,830,000 Shares are offered under the Public Offer. After deducting the related expenses in connection with the Listing and Share Offer expenses, and assuming an Offer Price of HK$0.78 per Offer Share, being the mid-point of the indicative Offer Price range of HK$0.68 and HK$0.88 per Share, net proceeds from the Share Offer are estimated to be approximately HK$73,400,000.

The Public Offer commenced on 15 May 2017 (Monday) and will end at 12:00 on 18 May 2017 (Thursday). The final Offer Price and allocation results are expected to be announced on or around 25 May 2017 (Thursday). Trading of VBG International's shares is expected to commence on the GEM of SEHK on 26 May 2017 (Friday) under the stock code of 8365. The Share will be traded in board lots of 5,000 Shares each.

Dakin Capital Limited is the Sole Sponsor of the Share Offer, whereas Dakin Securities Limited and Ping An Securities Limited are the Joint Bookrunners and Joint Lead Managers.

Business Review

VBG International, as one of the leading financial services providers in Hong Kong, offers a wide range of professional services, covering (i) corporate finance advisory services (including sponsorship, compliance advisory, financial advisory and independent financial advisory); (ii) placing and underwriting services; and (iii) business consulting services.

During the three years ended 30 September 2016 and the five months ended 28 February 2017, VBG International had handled 15, 34, 59 and 26 active engagements which generated a revenue of approximately HK$13,433,000, HK$55,955,000, HK$57,377,000 and HK$15,359,000 respectively. The Company undertook a total of 8 placing and underwriting transactions during the Track Record Period, of which 5 were primary market transactions and three were secondary market transactions.

Providing a Range of Financial Advice and Services to Customers

To meet different needs of its customers, VBG International offered corporate finance advisory services, placing and underwriting services and business consulting services to customers which are listed on the Stock Exchange and non-listed customers in Hong Kong, the PRC, Asia and Europe, as well as potential listing applicants on the SEHK. By offering a broad range of services to different segments of customers, the Company is able to cross-sell its services and expand the overall business. VBG International provides financial services to its customers and is committed to core values in (i) earning its customers' trust by delivering professional services, advice and solutions in their best interest; (ii) working in partnership with them with integrity and treating each other with respect; and (iii) maintaining a high quality environment that attracts, retains and develops the best people.

An Experienced and Competent Management Team and High Quality Workforce with a Streamlined and Efficient Management Structure

The experienced management team of VBG International possesses outstanding leadership, in which the two Executive Directors both have over 10 years of industry experience in the corporate finance services and business consulting industry. The management team has an all-round vision and efficient coordination and execution capabilities, enabling them to identify and capture market opportunities arising from the development of China's economics and regulatory environment. Meanwhile, its streamlined management structure enables the Company to maintain its threshold in the competitive corporate finance business.

Close and Stable Relationships with Customers
The Company has built up stable contacts with Hong Kong listed companies and their major shareholders. Close and stable relationships with its customers allow the Company to understand the long-term business goals, strategies and preferences of customers, thereby enabling it to provide tailored financial advices and services to customers, and obtain engagements from its existing customers and generate new financial services mandates.

Bright Prospects in Achieving Sustainable Business Growth

Looking forward, the Company will continue its focus on providing diversified financial services. As of 8 May 2017, the total value of outstanding contracts was HK$61,257,000. In order to capture opportunities for development, VBG International will continue to participate actively in placing and underwriting activities in primary and secondary market fund raising exercises with a strengthened capital base and a higher profile to be better placed to participate in fund raising activities. In the meantime, the Company intends to further strengthening its corporate finance team and work capacity of corporate finance advisory services by maintaining high quality and recruiting experienced corporate finance staff to enhance its profitability. Concurrently, leveraging on its regular contacts with partners and clients in Europe and the PRC and the proven track record in respect of cross-border M&A in Europe and the PRC, VBG International intends to expand its geographic breadth and functions in the third quarter of 2017 by establishing overseas representative offices and /or forming joint ventures in European cities, such as Milan, and the cities in the PRC, such as Qianhai or Nansha, which would work with its headquarters in Hong Kong in providing its business consulting services to customers in Europe and the PRC.

Ms. Letty Wan, Chairperson and Executive Director of VBG International, concluded that, "I am delighted to witness the achievement of such a significant milestone of our business development. We believe that our listing will not only strengthen our capital base, but more importantly, it will further enhance the corporate image and reputation of the Company, as well as fortify the confidence and recognition from our clients, and this in turn promotes the long-term development of the Company. Leveraging our extensive operating experience and unique competitive advantages, we are well-positioned to consolidate our market position within the Hong Kong financial service industry, so as to yield long-term and considerable returns to our shareholders."

Financial Statement
(HKD'000)     For the year ended 30 September   For the five months ended
                       2014      2015      2016        29 Feb 2016   28 Feb 2017
Revenue                13,433   55,955    57,377        10,475        15,359
Other income            45     10,738     153             83           (3)
/(expense)(Note)
Administrative       (17,837) (28,276) (33,188)       (10,168)       (11,574)
expenses and other
operating expenses
Profit before         (4,359)   38,417   20,582          390          3,782
income Tax
Profit for the        (4,359)   36,357   14,857          390          2,756
Year/Period
Note: Other income /(expense) primarily comprised interest income from licensed banks in Hong Kong, dividend income from equity securities listed in Hong Kong, which is insignificant as compared to revenue. However, other income increased tremendously for the year ended 30 September 2015 mainly attributable to a disposal of shares listed on SEHK which was classified as available-for-sale financial assets of approximately HK$10.2 million.

About VBG International Holdings Limited
VBG International, as one of the leading financial services providers in Hong Kong, offers a wide range of professional services, covering (i) corporate finance advisory services (including sponsorship, compliance advisory, financial advisory and independent financial advisory); (ii) placing and underwriting services; and (iii) business consulting services. By offering a broad range of services to different segments of customers, the Company is able to expand the overall business. VBG International provides financial services to its customers and is committed to core values in (i) earning its customers' trust by delivering professional services, advice and solutions in their best interest; (ii) working in partnership with them with integrity and treating each other with respect; and (iii) maintaining a high quality environment that attracts, retains and develops the best people. For details, please refer to its company website: http://www.vbg-group.com/.

Media Inquiries:
One PR Limited
Tel: +852 2592 8121
Email: inquiry@onepr.com.hk



Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

YPO Announces the 2017 Global Innovation Award Winners

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YPO Announces the 2017 Global Innovation Award Winners
Tadahiro Kawada
Nicholas Ackerman
Honoring Global Innovators Initiating Breakthroughs that Inspire Positive Transformation

DALLAS, TEXAS, May 17, 2017 - (ACN Newswire) - YPO, the premier chief executive leadership organization in the world, concluded its second-annual YPO Innovation Week by announcing the winners of the Global Innovation Awards, which honors those YPO members who have created transformative innovations and nurture continued growth and opportunity for leaders around the world.

In addition to recognizing the top ten innovators from among more than 24,000 YPO members across 130 countries, the Global Innovation Awards also honors Asia's top innovator and the top young adult innovator, who is a child of YPO member (ages 17-29).

"The Global Innovation Awards highlight those distinguished innovators who are leading the way in creating forward-thinking companies and significant opportunities for this and the next generation. These leaders are making an indelible mark in the world," said Keith Alper, Chair of YPO Innovation Week.

During May, 2017 YPO Innovation Week connected influential entrepreneurs, innovators and thought leaders to exchange ideas about inspiration, breakthroughs and transformation through more than 50 signature events, live two-way interactive video casts and livestream events around the world. At the conclusion of the week, YPO announced the top Asian innovator in Hong Kong and the Global Innovation Award winner in New York City.

- 2017 Global Innovation Award Winners

* Global Innovation Award - Michael Golway, President and CEO of Advanced Solutions, Inc

Michael Golway is the inventor of the BioAssemblyBot(R), the world's first 3D human tissue printer that uses a six-axis robot. BioAssemblyBot(R) is a disruptive technology that allows researchers to complete their experiments faster, pharmaceutical companies to take cost and time out of the drug development process and a new approach to solve for diseased or failing organs.

In addition to selling the innovation to customers around the world, Advanced Solutions Life Sciences is using the BioAssemblyBot(R) technology platform in its own labs to help advance the science including developments to support the goal of 3D printing human organs.

* Global Innovation Award - Asia Top Innovator: Tadahiro Kawada, President of Kawada Industries

Tadahiro Kawada is the President of Kawada Technologies, Inc, overseeing multiple businesses including construction, ICT, aviation, environmental, and robotics. With a background in mechanical and aerospace engineering, he led the research and development of humanoid robots at Kawada, collaborating with the University of Tokyo and Japanese government agencies. Since 2000, the Kawada Group has developed more than 10 variations of biped humanoid robots. Kawada's newest robotics product, NEXTAGE, is an industrial-use collaborative robot (cobot) that empowers manufacturing companies, facilitating factory innovation and labor efficiencies.

* Global Innovation Award - YPO Next Generation - Nicholas Ackerman

Nicholas Ackerman is the developer of bCODE technology, providing companies with a method of delivering tickets to all mobile users by utilizing SMS. bCODE technology has since evolved, now offering services for retailers and credit card companies, allowing for consistent consumer engagement and dynamic delivery of incentives to reward or encourage loyalty behavior.

"Congratulations to the 2017 Global Innovation Award honorees as they highlight the innovation and breadth of talent of the global YPO network," said Scott Mordell, CEO of YPO. "Acknowledging their originality and inventiveness is a perfect way to cap off the second-annual YPO Innovation Week."

- Finalists

The top finalists for the YPO Global Innovation Awards include:

* Rex Briggs, CEO of Marketing Evolution
Marketing Evolution is an independent SaaS platform for measuring and optimizing the entire marketing mix and creator of ROI Brain(TM), which uses person-level analysis to deliver detailed message rotation, targeting and media mix optimization for every media.

* Mark Hadland, CEO of Level11
Level 11, a user experience software development firm, has recently partnered with Carnival Cruise Corp. to develop the largest guest-facing, Iot platform designed to deliver personalized guest experiences at scale.

* Gregg Hill of Frustum
Frustum is a pioneer in functional generative design and topology optimization software for industrial designers and engineers, recently introducing its proprietary geometry kernel designed to move the 3D Computer-Aided Design market to true generative design and optimization.

* Samir Kulkarni, CEO of Showcase
Showcase is a 105-store national chain based in Canada and one of the most innovative retailers in North America, fueled by groundbreaking trend technology and a nimble supply chain.

* George Kurtz, President, CEO and Co-Founder of CrowdStrike
CrowdStrike is a leading cybersecurity company focusing on next-generation endpoint protection, threat intelligence and incident response through cloud-based endpoint protection.

* Stuart Lacey, Founder and CEO of Trunomi
Trunomi is reinventing the way in which financial institutions interact with customer data, securely connecting financial institutions to their customers with a consent-based data sharing platform. Its consent-based platform revolutionizes the way financial institutions interact with customer data, in full compliance with data privacy regulations.

* Rao Mulpuri, CEO of View, Inc
View, Inc is the first company to successfully advance the large-scale commercialization of dynamic glass, a new generation of architectural glass that transitions through multiple tint states to control the sun's energy.

* Josh Siegel, Chairman and CEO of StoneCastle Financial Corp.
Siegel has created Cambr, a financial toolkit that enables brands and developers to easily build financial apps and features on StoneCastle's network of more than 700 insured community banks, essentially the first Banking in the Cloud (BAAS) platform.

* Tej Tadi, Founder and CEO of MindMaze
Tadi founded MindMaze in 2011 to develop technologies that help patients recover from brain injuries. The company recently has launched devices, which use virtual reality, brain imaging and gaming technologies to retrain the brain in stroke victims. MindMaze is now developing solutions for spinal cord injury and amputee patients.

About YPO Innovation Week

YPO Innovation Week offers global chief executives with learning events and networking opportunities designed to infuse innovation into their companies, form strategic partnerships, and positively affect their businesses and the communities in which they work. YPO leaders were able to leverage new partnerships in innovation, integrate innovation into their company culture, and convert ideas into actionable plans, through YPO Innovation Week.

YPO Innovation Week 2017 held events in more than 30 countries around the world, including Tel Aviv, Israel; New York, New York; Melbourne, Australia, Silicon Valley, California; Hong Kong, China and more, all dedicated to driving innovation across a diverse range of industries. The week featured idea jams, workshops, live-streamed panels, insider company tours, global conference calls, TED-style presentations and debates.

About YPO

The premier leadership organization of chief executives in the world.

YPO is the global platform for chief executives to engage, learn and grow. YPO members harness the knowledge, influence and trust of the world's most influential and innovative business leaders to inspire business, personal, family and community impact.

Today, YPO empowers more than 24,000 members in more than 130 countries, diversified among industries and types of businesses. Altogether, YPO member-run companies employ more than 15 million people and generate USD6 trillion in annual revenues.

Leadership. Learning. Lifelong. For more information, visit YPO.org.

Contact:
YPO
Linda Fisk
Office: +1 972 629 7305 (United States)
Mobile: +1 972 207 4298
press@ypo.org


Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

VGI Global Media (SET:VGI) Posts Solid 2016/17 Performances, with 30% Revenue Surge

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Confident of Achieving THB 4,000m Revenue Target, Sustained Growths in 2017/18

BANGKOK, May 18, 2017 - (ACN Newswire) - VGI Global Media PCL (SET:VGI), operator of a data centric media hypermarket, announced its operating results for 2016/17, highlighting a 30% YoY rise in revenue, achieved amid shrinking media spending. It attributed the success to the healthy growth in the OOH segment and the recognition of revenue from the acquisition of Rabbit Group companies. In view of a forecasted improvement in media spending this year, its management seek to grow the revenue for 2017/18 to THB 4,000 million.

Mr. Marut Arthakaivalvatee, Vice Chairman of VGI, operator of a data centric media hypermarket, revealed VGI's operating results for 2016/17 (Apr'16 - Mar'17), including a total revenue of THB 3,052 million, increase 30% YoY from THB 2,341 million, despite lower media spending in the market during the year. The growth was driven by the expansion in out-of-home (OOH) media segment covering BTS, Office, Outdoor, Aviation and Activation. Furthermore, VGI recognised revenue from Rabbit Group (BSS and BSSH) and has already benefitted from the synergies after an acquisition.

Net profit decreased from last year to THB 826 million mainly due to the suspension of advertising media services during the national mourning period and one-time rise in selling, general and administrative expenses (SG&A) as a result from domestic and international mergers and acquisition (M&A) deals that were aimed at enhancing VGI's potential and enabling the company to achieve an exponential growth target as set by the 2017/18 plan.

"Amid low media spending over the past year, we managed to record solid growths in revenue across our one-stop Out of Home media platform. We also earned more revenue following the acquisition of MACO and Rabbit Group to enhance our strengths as well as our future performances," he said.

The company's board approved on 16 May 2017 payment of cash dividends for the second half-year results to the shareholders at THB 0.025 per share, or THB 172 million in aggregate (subject to final approval by the shareholders on 6 July 2017). This means that the dividends declared for FY2016/17 will total THB 412 million.

The Vice Chairman added that in 2017/18 VGI will earn revenue from the investments made in the previous year and enjoy a forecasted improvement in media spending, which will enable the company to meet the total revenue target of THB 4,000 million (50% from the advertising media within the BTS skytrain network, 25% from OOH advertising media, 15% from Rabbit business and the remainder from the advertising media at office building).

About VGI Global Media PCL

VGI Global Media PCL (SET:VGI) is Thailand's major provider of out-of-home media solutions, having more than 10,000 items of large still-image screens in the BTS skytrain network and large retail stores nationwide. It also has over 11,000 sq.m. of advertising space in the product display zones of large modern trade stores, as well as about 5,000 items of digital screens and media in the BTS platform and train areas, the Tesco Lotus, Big C, and Watson stores, and large office towers throughout Bangkok, and mega LED and outdoor led screens under its management. In addition, the company runs retail shops in 23 BTS stations and radio networks covering nearly 2,000 modern trade stores in Thailand. For more information, please see www.vgi.co.th.

Contact:
Investor Relations Department, VGI Global Media PCL Tel: +66 2273 8639; 0 2273 8623 E-mail: ir@vgi.co.th www.vgi.co.th Released for VGI Global Media PCL by Public Relations Department, MT Multimedia Co Ltd Contact: Orn-arong ("Fah") Pattaravejkul Tel: +66 2612 2081 #129 Mobile: +66 8 6884 4458 E-mail: orn_tabo@hotmail.com

Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Hong Kong International Medical Devices and Supplies Fair Concludes

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Hong Kong International Medical Devices and Supplies Fair Draws 10,700 Buyers
More than 10,700 Buyers Visited the Fair, Up 7% over Last Year

HONG KONG, May 18, 2017 - (ACN Newswire) - The eighth HKTDC Hong Kong International Medical Devices and Supplies Fair concluded its three-day run today. Organised by the Hong Kong Trade Development Council (HKTDC) and co-organised by the Hong Kong Medical and Healthcare Device Industries Association (HKMHDIA), the fair welcomed more than 10,700 buyers from 62 countries and regions, up 7 per cent over the previous year.

Fair Video: https://youtu.be/vXsBp23PASw

"With the ageing population and advancement in medical technologies, there is immense growth potential in the medical supplies and products market," said HKTDC Deputy Executive Director Benjamin Chau. "The Medical Fair showcased a wide selection of medical devices and supplies, attracting industry players from around the world. This year, buyer attendance from mature markets such as Japan, Korea, Switzerland and the UK, together with emerging markets, including the Chinese mainland, India, the Philippines, Thailand and Russia, recorded satisfactory growth, indicating there is flourishing demand for medical products and services across many markets."

- Buyers interested in the latest medical equipment

With the rapid development of the Asian medical market, the Medical Fair attracted many Asian buyers, energising the sourcing atmosphere. OliveNetworks is among the largest health and lifestyle store chains in Korea with over 900 stores. Kim Min Chae, the company's Manager, visited the Medical Fair for the first time to enhance the company's product categories, and established initial contact with five to six potential suppliers from Hong Kong, the mainland and Malaysia. "The fair has a good mix of medical products on offer," said Mr Kim. "Our initial order for back braces is estimated at US$35,000. We are also negotiating with new suppliers for products such as kinesiology tapes."

Max Healthcare is one of the largest hospital groups in northern India, currently operating 14 hospitals with about 2,500 beds. Amid the hospital group's expansion plans, Manoj Ahlawat, General Manager, Supply Chain Management visited the Medical Fair for the first time to source new quality products and technology from Asia. "So far, I have found two potential suppliers for hospital beds that suit our needs. If negotiations work out successfully, the amount of orders will be around US$50,000 each with them."

Singaporean buyer Ziwell Medical(S) Pte Ltd distributes medical devices and health products in Singapore and Malaysia with hospitals, clinics and pharmacies as major customers. Yeo Siew Meng, the company's Director, returned to Hong Kong to find new products and suppliers. So far, he found three potential suppliers from Hong Kong and the mainland for different items such as a smart cart designed to aid patients' mobility, an AED device and an AED training set. "The amount of business for the smart carts is anticipated to be around US$200,000 while that for the AED devices and training sets can be up to US$600,000. The fair provided an ideal platform for us to look for quality business partners."

- New "World of Healthcare" helps explore new markets

This year, the Medical Fair attracted a total of 270 exhibitors from 14 countries and regions. Featuring more than 15 thematic zones, the fair presented a wide spectrum of medical and healthcare devices and services, providing an important business platform for the healthcare industry. Responding to growing awareness of the importance of personal health, the fair introduced the "World of Healthcare" to present healthcare products and services, including fitness products, health food and beverages, and nutritional supplements. The Australian exhibitor Benson Medical Services Pty Ltd, which sells products worldwide, promoted a product that helps relieve snoring and enables people to sleep better. Richard Benson, the company's Director, said that the fair helped the company explore new markets. "We have already received serious interest from potential buyers from the Chinese mainland, India and the Philippines. The feedback is absolutely fantastic."

The US exhibitor MivaTek is an IoT service provider, offering smart home-care solutions to enable independent living for the elderly, such as various sensors for multiple functions like activity tracking. Roger Huang, Senior Sales Director, said he was pleased with the results by showcasing their services in the new zone. "It creates a critical mass to draw buyers looking for healthcare items. We met a number of buyers from different markets, including Hong Kong, India, Singapore, Malaysia, Italy and Germany. Some of them requested samples. We expect to take about three months to negotiate and conclude business cooperation. The responses have met our expectations."

- Start-ups expand their business networks

The medical industry is becoming a popular sector for entrepreneurs, with many start-ups developing new medical products and technologies in recent years. The "Startup" zone, introduced at the Medical Fair this year, allowed start-ups to exhibit at lower cost and meet buyers and potential business partners from around the world. The Hong Kong start-up Human Washer Ltd presented for the first time its automated full bathing system with temperature control, surrounding water jets and warm-air drying. Its Director Samuel Hui said that the Startup zone is an effective platform to present creative ideas to potential buyers from around the world. "The feedback has been terrific. We have got in touch with serious buyers from Singapore and Malaysia, who expressed interest in distributing our device." He added that they were in talks with many Hong Kong contacts including hospitals and elderly care centres that want to order their product.

- New group pavilions explore the Chinese mainland and Asian markets

This year, the Medical Fair welcomed new group pavilions from the US State of Illinois, the Czech Republic, India and Poland's Wielkopolska region to present the latest medical technology products. Milan Vagner, Consul (Trade & Economy), Consulate General of the Czech Republic in Hong Kong, said that they were pleased to have organised a pavilion with four Czech companies to promote nursing beds and orthopaedic shoes, in order to explore the Asian business network. "The ageing population presents a lot of opportunities for our medical businesses. Hong Kong is the hub for doing business in Asia and serves as a gateway to penetrate the Chinese mainland. This fair creates an excellent opportunity to grow our presence and keeps us up-to-date of the Asian market."

Kitty CW Leung, Managing Director - Far East Office, State of Illinois, and Terry LaRocca, Senior International Trade Specialist, Illinois Department of Commerce & Economic Opportunity, said the seven companies in the US state's pavilion provided a variety of medical products and services such as obstetrics and gynecology products and esophageal cooling equipment. "The Medical Fair has a special niche to draw industry players and offers us a great chance to gain exposure and find partners. The pre-arranged business-matching service has also facilitated fruitful exchanges. This is a good place to generate interest and explore new business."

To help industry professionals monitor the pulse of the market and expand their business networks, a series of seminars was organised, covering such topics as the latest technology and market information of the medical and healthcare industries and worldwide medical device regulatory updates, as well as forums and workshops. Offering added synergy, the Hospital Authority Convention 2017 (16-17 May) also brought in more than 5,000 delegates, making it one of Asia-Pacific's largest events for medical professionals.

Hong Kong International Medical Devices and Supplies Fair: www.hktdc.com/hkmedicalfair/
Photo Download Link: http://bit.ly/2ru7PA9

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/

About HKTDC

Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: https://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Contact:
HKTDC Communication and Public Affairs Department Joe Kainz Tel: +852 2584 4216 Email: joe.kainz@hktdc.org

Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Chiho-Tiande Announces Business Updates

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HONG KONG, May 18, 2017 - (ACN Newswire) - Chiho-Tiande Group Limited ("Chiho-Tiande" or the "Group") (Stock code: 976), is pleased to provide business development update after its completion of the acquisition of Scholz Holding GmbH (the "Very Substantial Acquisition") in December 2016. Before the Very Substantial Acquisition, Scholz Holding GmbH and its subsidiaries (the "Scholz Group") was significantly over-leveraged and therefore its equity value was negative. Following a series of the restructuring steps with respect to its financial situation and the significant deleveraging measures carried out by the Group, the performance of Scholz Group has improved since January 2017 which has led to an increase in revenue and ultimately improving the profitability of Chiho-Tiande as a whole.

Based on the unaudited consolidated operating results as extracted from the preliminary consolidated management accounts of Chiho-Tiande, the Board wishes to announce that:

1) For the first quarter ended 31 March 2017, the unaudited revenue of the Group was approximately HK$4,381,775,000, increasing approximately 6 times over that of HK$712,310,000 for the same period ended 31 March 2016;

2) For the first quarter ended 31 March 2017, the unaudited gross profit of the Group was approximately HK$584,257,000, a turnaround from the gross loss of HK$6,532,000 for the same period ended 31 March 2016, making a substantial profit;

3) For the first quarter ended 31 March 2017, the unaudited profit after tax of the Group was approximately HK$201,612,000, a turnaround from the net loss of HK$68,417,000 for the same period ended 31 March 2016, making a substantial net profit after tax.

The Board believes that this represented an important milestone in the Chiho-Tiande's strategy and would like to keep the shareholders of the Group and potential investors informed. The Board does not however intend to release quarterly revenue or profit updates in the future.

The Group was principally engaged in metal recycling, involving the recycling of mixed metal scrap into copper scrap, steel scrap, aluminum scrap, iron scrap and other metal scrap in Asia region during the year 2016. After the completion of the Very Substantial Acquisition, the Group has extended its metal recycling business from Asia region to worldwide (including Europe and North America regions).

The above-mentioned operating results are based on the preliminary consolidated management accounts of the Group, which have not been reviewed or audited by the Company's auditors and may be subject to adjustments. As such, the above information is provided to Shareholders and potential investors for reference only.

About Chiho-Tiande Group Limited (Stock code: 976)
Chiho-Tiande Group Limited completed the acquisition of Scholz Holding GmbH ("Scholz") in December 2016, thus become one of the world's largest mixed metal scrap recyclers, with an international business footprint covering Europe, China and North America. The Group primarily engages in recycling, disassembling and processing of mixed metal scrap and recycle and reuse of resources. It also develops car demolition and e-waste treatment.

For more information, please visit http://www.chiho-tiande.com/

Media enquiries
Strategic Financial Relations Limited
Vicky Lee Tel.: +852 2864 4834 Email : vicky.lee@sprg.com.hk
Hawaii He Tel.: +852 2864 4847 Email : hawaii.he@sprg.com.hk
Fax: +852 2527 1196



Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

HKBU Chinese Medicine Scholars Conduct Research in Space Life Science aboard China's Tianzhou 1

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The HKBU research team: (From left) Professor Zhang Ge, Dr Liang Chao, Miss Wang Luyao and Professor Lyu Aiping (Copyright: Hong Kong Baptist University)
(From left) Miss Wang Luyao, Professor Zhang Ge and Dr Liang Chao witness the launch of Tianzhou-1 at the Wenchang Space Launch Centre in Hainan. (Copyright: Hong Kong Baptist University)
In vivo osteoblast-specific delivery of CKIP-1 siRNA could improve bone formation and increase bone mass of aged rats dramatically. (Copyright: Hong Kong Baptist University)


HONG KONG, May 18, 2017 - (ACN Newswire) - The School of Chinese Medicine (SCM) of Hong Kong Baptist University (HKBU) is conducting a space life science study aboard China's first cargo spacecraft, Tianzhou-1, which was launched last month. HKBU is the only institution of higher education outside the Mainland to conduct scientific research aboard the Tianzhou 1.

The HKBU team is studying effects of the CKIP-1 gene on bone formation in the microgravity condition on board the Tianzhou 1 in space. In microgravity, bone loss occurs several times faster than on Earth, posing a serious health threat to astronauts, who therefore cannot stay in space for long periods of time. The HKBU team hopes that the study will lead to the formulation of a set of protective measures and treatments as well as the discovery of new drugs to prevent or treat bone loss resulting from space travel. It could also serve as reference for the development of a health care and therapeutics for an ageing population.

The HKBU team is led by Professor Lyu Aiping, HKBU Dean of Chinese Medicine, and Director of the Law Sau Fai Institute for Advancing Translational Medicine in Bone & Joint Diseases (TMBJ), and Professor Zhang Ge, Associate Director of TMBJ, Associate Director of SCM's Teaching and Research Division, and Director of the Technology Development Division, with Post-doctoral Research Fellow Dr Liang Chao and Senior Research Assistant Miss Wang Luyao as team members.

Professor Lyu Aiping said this is another important contribution made by HKBU to the Mainland's major scientific research initiatives after its participation in the first deep-sea expedition aboard the manned submersible Jiaolong in 2013. This new contribution not only recognises HKBU's and Hong Kong's research strength in related areas, but is also a great source of encouragement to members of the Chinese medicine and higher education sectors.

Professor Zhang Ge says the quality of Bone & Joint Research at TMBJ has reached the top international level. TMBJ members have in recent years published a number of research papers in prestigious academic journals such as Nature Communications and Nature Medicine. He hopes their project will bring a breakthrough in this related area of research.

The CKIP-1 gene in osteoblasts (bone-forming cells) could specifically interact with SMURF1 genes in the cells to inhibit cell activity, thereby slowing down or hindering bone formation. The research team led by Professor Lyu and Professor Zhang further found that the aberrant elevated CKIP-1 expression in osteoblast could inhibit bone formation and contribute to the reduction in bone formation during ageing as well as in the development of glucocorticoid-induced osteoporosis.

Nevertheless, the function of CKIP-1 in the process of bone formation reduction caused by microgravity in space is still not yet known. The team has placed osteoblast in which CKIP-1 genes were silenced on board the Tianzhou 1 for further research, and is monitoring the effects of CKIP-1 on osteoblast.

To prepare for the launch of Tianzhou 1, Dr Liang Chao and Miss Wang Luyao of the HKBU team participated in a number of life science experiments at ground level, organised by the National Space Science and Application Centre of the Chinese Academy of Sciences. These experiments included simulated vibration tests, bio-compatibility tests and simulated microgravity experiments as well as systematic matching experiments and rehearsals. Tianzhou 1 was launched at the Wenchang Space Launch Centre in Hainan.

Entitled "Research on the impact of microgravity on the proliferation and differentiation of cells", the space life science study on Tianzhou 1 is led by Northwestern Polytechnical University in collaboration with HKBU, Tsinghua University, Zhejiang University, the Academy of Military Medical Sciences, and the Institute of Zoology of the Chinese Academy of Sciences. The project consists of eight sub-projects of which HKBU is responsible for sub-project CKIP 1.

Media enquiries:
Connie Ko of the School of Chinese Medicine (+852 3411 2132) or
M S Fung of the Communication and Public Relations Office (+852 3411 5261 or +852 7472 2122).


Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

ASL Celebrates Its 20th Listing Anniversary and Successful Acquisition of Grid Dynamics

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The celebration event began with welcome speech presented by Mr. Leon Wang, Chief Executive Officer and Executive Director of ASL.
Mr. Wang Weihang, Executive Director of ASL and Chairman and President of Teamsun delivered a video speech at the event.
5 officiating guests including Mr. Leon Wang, Chief Executive Officer and Executive Director of ASL (Right 2), Mr. Li Wei, Chairman and Non-executive Director of ASL (Center), Mr. Pan Xinrong, Independent Non-executive Director of ASL (Left 1), Mr. Leonard Livschitz, Chief Executive Officer of Grid Dynamics (Left 2), and Ms. Victoria Livschitz, Chief Technology Officer of Grid Dynamics (Right 1) hosted the lighting ceremony symbolizing the bright prospects of the Group.
Provides Global Services as a Professional IT Service Partner Firmly Rooted in Hong Kong

HONG KONG, May 19, 2017 - (ACN Newswire) - Automated Systems Holdings Limited ("ASL" or "the Group") (HKG: 771), a trustworthy and professional information technology ("IT") partner in the region, has held "Innovation Journey on Solid Foundation" celebrating ASL's 20th Listing Anniversary cum Joining of Grid Dynamics International, Inc. ("Grid Dynamics") at The Ritz Carlton in Hong Kong today. Guests from different sectors of society attended the event to witness this important historical moment. The Group has also taken this opportunity to express its gratitude to all business partners and different sectors of society for their long-term support while joining the celebration of the Group's outstanding achievements over the past two decades.

The celebration event began with welcome speech presented by Mr. Leon Wang, Chief Executive Officer and Executive Director of ASL and concluded with the executive remarks delivered by Mr. Li Wei, Chairman and Non-executive Director of ASL. Then, the two joined the other officiating guests to host the lighting ceremony symbolizing the bright prospects of the Group. Apart from the event in Hong Kong, ASL's parent company Beijing Teamsun Technology Co., Ltd. has also arranged another celebration event in Beijing on 24 May.

Mr. Leon Wang, Chief Executive Officer and Executive Director of Automated Systems Holdings Limited, said, "2017 is an important year for us to remember and celebrate. It's a milestone that the Group has been founded 44 years and listed on the Main Board of The Stock Exchange of Hong Kong Limited for 20 years. The Group has developed alongside and in close affinity with the IT industry in Hong Kong over the years. Despite many challenges encountered in the past few decades, the Group's core businesses have maintained a healthy development. We have always kept a close watch on changes in the market and actively reviewed and adjusted our development strategy accordingly to build a solid foundation for our business. ASL's success today is owed to the great support from different parties and no words could express the Group's gratitude to them. Taking this opportunity, I would like to thank all our business partners and friends who have worked closely with us all the time."

ASL focuses on and continues to invest in five key solutions areas and services, namely Infrastructure, Security, Data Intelligence, Mobile and Cloud, so as to better grasp the opportunities in the ever-changing market and provide quality and comprehensive IT managed services and solutions to customers. In 2016, the Group expanded "Offshore Delivery Excellence Center" in Guangzhou and opened new "Service Center", further expanding and upgrading the capabilities of the Group. ASL has completed the acquisition of the U.S. cloud services company - Grid Dynamics in April 2017. As such and with firm roots in Hong Kong, the Group has become a global IT service provider with more than 2,000 professionals and an expansion of geographical coverage beyond Asia Pacific.

Mr. Wang continued, "With new generation digital transformation technology emerging and gaining popularity quickly, businesses are having keen interest in pursuing digital transformation. The Group will continue to apply its core edges in seizing the vast opportunities and provide our customers with more comprehensive and highly efficient IT resource management services. The recent acquisition we made have not only expanded our service coverage worldwide, but have also transformed into strong synergies with our existing operations in terms of location, customer base and technology, allowing us to meet the demand of companies around the world. Looking ahead, the Group will continue to capitalize on its strengths and edges to consolidate its standing as an international, reliable and professional IT partner."


About Automated Systems Holdings Limited

Automated Systems (H.K.) Limited was founded in Hong Kong in 1973 and was listed on the Stock Exchange of Hong Kong Limited under the name of Automated Systems Holdings Limited (HKG: 771) in November 1997. ASL Group's ultimate controlling shareholder is Beijing Teamsun Technology Co., Ltd. ("Teamsun") whose shares are listed on the Shanghai Stock Exchange (Stock Code: 600410). The Company is a member of the Teamsun Group which recorded turnover of more than RMB5.0 billion and has more than 5,000 employees.

The ASL Group, consisting of Automated Systems (H.K.) Limited, ELM Computer Technologies Limited, CSA Automated (Macau) Limited, Guangzhou Automated Systems Limited, ASL Automated (Thailand) Limited and the newly acquired company in April 2017 - Grid Dynamics International, Inc.. In addition, i-Sprint Innovations Pte Ltd is our associate company. We offer professional information technology services to corporate clients worldwide, particularly in the Greater China and Asia covering Hong Kong, Mainland China, Taiwan, Macau, Thailand, Singapore, Malaysia as well as North America and Europe, etc. After more than 40 years of success, the ASL Group has established its reputation as a trustworthy and professional global IT partner.

With its strong commitment to quality services, the ASL Group has been winning well-known clients such as government agencies, prestigious universities, telecommunications giants, transportation enterprises, major financial institutions, and leading international corporations. For more information, please visit our web page at http://www.asl.com.hk.

For Press Enquiries:

Strategic Financial Relations Limited
Vicky Lee,
+852 2864 4834, vicky.lee@sprg.com.hk
Janet Fong,
+852 2864 4817, janet.fong @sprg.com.hk
Christina Cheuk,
+852 2114 4979, christina.cheuk@sprg.com.hk
Website: http://www.sprg.com.hk



Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Sberbank of Russia to Start Accepting JCB Cards

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Moscow, Russia and Tokyo, Japan, May 19, 2017 - (ACN Newswire) - JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the signing of a license agreement with Sberbank of Russia, the largest bank in Russia, the Commonwealth of Independent States (CIS) and Central and Eastern Europe. Sberbank agreed to start accepting JCB cards on the Sberbank nationwide POS terminal network in 2018.

Sberbank has the largest POS terminal network in the country. JCBI started card issuing business with several local banks in Russia in 2015 and the cardmember base has been expanding. The partnership with Sberbank of Russia will ensure that the JCB cardmembers enjoy more convenience and increase JCB brand awareness and presence in the market.

Kimihisa Imada, President and COO of JCBI, said: "We are sure this arrangement will support our objective as a very active player in the payment industry in Russia. We believe our collaboration will contribute to the growth of card payments and provide greater convenience to JCB cardmembers both in Russia and from all over the world."

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 32 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 23 countries and territories, with more than 100 million card members. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.

Note: Statistics in About JCB are as of September 2016.

For more information, please visit: www.global.jcb/en/ or www.ru.jcb/ru/ .

Contact
JCB International Co., Ltd.
Kae Mitsuda
Global Business Planning
Tel: 81-3-5778-7963
Email: jcbinternational-pr@info.jcb.co.jp


Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

HKTDC Entrepreneur Day Opens with Record Exhibitors

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HKTDC Entrepreneur Day Opens with Record Exhibitors
Star speakers discuss tech trends and opportunities

HONG KONG, May 19, 2017 - (ACN Newswire) - The ninth edition of the HKTDC Entrepreneur Day opened today to a record of more than 270 exhibitors. Organised by the Hong Kong Trade Development Council (HKTDC), the two-day event (19 to 20 May) is taking place at the Hong Kong Convention and Exhibition Centre and is open to the public for free.

"The event is the HKTDC's flagship event for entrepreneurs," said HKTDC Executive Director Margaret Fong. "As more and more young people become interested in entrepreneurship, their demand for start-up support is continually rising."

- Start-up Runway

Lau Ming-Wai, Chairman of the Commission on Youth, officiated at this morning's opening session of Start-up Runway. Entrepreneur Day's two-day flagship conference kicked off with a plenary session titled "Vision Explorer: Venturing into the Future". Among the speakers who shared their entrepreneurship experience were Simon Loong, co-founder and CEO of WeLab Holdings, one of the world's top FinTech companies (ranked 33rd globally and sixth in China); Terence Kwok, co-founder of Tink Labs Ltd, which raised US$100 million in a recent funding round; and Shing Chow, founder and CEO of Lalamove. The forum was moderated by StartupsHK's co-founder Gene Soo.

More than 40 seminars, workshops and networking activities will be held during Entrepreneur Day, featuring entrepreneurs and start-ups from different sectors who will discuss innovation and technology trends and start-up opportunities, offer professional advice to fledgling entrepreneurs and share experiences and insights. Speakers will include Carman Chan, Managing Partner of Click Ventures, which provides mentorship to companies specialising in Internet, mobile and related technologies (its portfolio includes Spotify and Meetup); Samson Tam, Partner of Hong Kong Innovation Angel Investment Ltd, an active angel investor that has invested in more than a dozen start-ups; Jason Chiu, CEO of cherrypicks, whose entrepreneurial journey was featured as a Harvard Business School case study; James Hong, renowned travel writer; Antonia Li, Research Analyst of Oddup; and Alex Kong, founder and CEO of TNG Wallet, Hong Kong's home grown eWallet. A diverse range of hot topics will be examined at the events, including Fintech, AI and TravelTech.

- Experience innovative technology in action

Creativity, sound planning and market intelligence are key components to every entrepreneurial success. This year's Entrepreneur Day features a new exhibition zone called The Imaginarium, which gathers more than 60 start-ups to showcase the latest innovative products and technologies in the fields of health technology and biotechnology, FinTech, greentech, IoT (Internet of Things), artificial and augmented reality (AR/VR), artificial intelligence (AI) and robotics. A number of local tertiary institutions and tech companies are also on site to showcase their work. Visitors can experience the latest innovative technology and creative concepts from different sectors and technical domains at the zone. Visitors can see various tech innovations and systems in action at the Imaginarium Demo Area, which will showcase start-up cases and live demonstrations by tech and tertiary institutions and co-working spaces, including the Hong Kong Cyberport Management Company Ltd, The Chinese University of Hong Kong and playground.work.

Other highlight zones include: Go-getters Zone, which showcases business opportunities for start-ups; The Boosters, where support services are offered; The Cosmopolitan, which features start-up cases from overseas and the Chinese mainland; and Creatopia - Cross Matching Pavilion, a platform that promotes local creative designers and cross-sector business cooperation.

- Pitching for funding

For start-ups to thrive, capital is crucial, and pitching is one of the main ways for start-ups to seek funding. This year's Pitchathon is co-organised by StartHub, the Hong Kong Startup Council and Cocoon. The event aims to provide start-ups and investors with an exchange platform where start-ups can hone their pitching skills and seek funding and compete for a chance to secure angel investment. At this year's StartHub 3.0 Pitching Competition, winning projects have the chance to receive up to HK$20 million in funding.

- Sparking entrepreneurial ideas, building connections

Building connections is another indispensable component of entrepreneurship. Entrepreneurs need the support of like-minded peers and expert advice. At Entrepreneur Day, the HKTDC together with the Hong Kong Federation of Youth Groups has organised the Start-up Mixer, a two-hour event that uses the "speed dating" format to allow more than 70 start-ups to interact with 12 star mentors from different sectors and receive business advice.

In addition, the HKTDC is co-organising the Startup Weekend Hong Kong Bootcamp with Startup Weekend Hong Kong. The event allows fledgling entrepreneurs to compete with each other and experience the entrepreneurial journey, brainstorm ideas and turn them into viable businesses. Another new event, The Pioneer Meetup, offers a platform for start-ups to exchange ideas with young leaders and successful entrepreneurs. The HKTDC is also launching an event with W-Hub, called Start-ups Meet Talent, which allows start-ups to meet prospective teammates, conduct interviews and hire staff. Meanwhile, the acclaimed Fund & Mentor business-matching event returns, offering an opportunity for start-ups to explore cooperation with potential investors.

Entrepreneur Day website: www.hktdc.com/eday
Photo download: http://bit.ly/2qA7AWT

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

About HKTDC

Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: https://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Contact:
HKTDC Communication and Public Affairs Department Joe Kainz Tel: +852 2584 4216 Email: joe.kainz@hktdc.org

Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

Record More Than 17,600 Visitors Attend Entrepreneur Day

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Record More Than 17,600 Visitors Attend HKTDC Entrepreneur Day
Start-up Runway in Hong Kong Explores Entrepreneurial Vision

HONG KONG, May 21, 2017 - (ACN Newswire) - A record turnout of more than 17,600 visitors, 3.5 per cent more than the previous year, attended Entrepreneur Day on 19-20 May at the Hong Kong Convention and Exhibition Centre (HKCEC). Organised by the Hong Kong Trade Development Council (HKTDC), the two-day event hosted more than 270 exhibitors from various sectors for its ninth edition.

"Vision Explorer: Venturing into the Future" was the theme of the Start-up Runway forum which took place on both days of the event, featuring successful entrepreneurs from a wide range of industries who shared start-up experiences and insight. Opening day plenary session speakers included Ming-wai Lau, Chairman of the Commission on Youth and Gene Soo, Co-founder of StartupsHK, joining local start-up entrepreneurs Simon Loong of FinTech giant WeLab Holdings, Shing Chow of logistics platform Lalamove and TravelTech pioneer Terence Kwok of Tink Labs Limited.

- Age Doesn't Matter

"Starting up a business is not just the dream of the youth," said Mr Lau. "According to some overseas surveys, the average age of entrepreneurs is about 40. It's never too late if one wants to start their own business."

Mr Loong recalled quitting his job at the age of 36 to become an entrepreneur after he came up with the idea of building his online loan platform WeLab Holdings. "I used to work in the loan department of a bank and found that personal loans could solve one's financial difficulties. However, loan applicants had to go to the bank in person to sign documents and their application might eventually be declined. So, the idea of combining the strengths of traditional banks in risk management and treasury management with innovative big data technologies popped into my head," he recalled. "Capitalising on big data and loan applications that can be approved round-the-clock without face-to-face contact, a deeper understanding of people can be achieved."

A straight-A student and Stanford University graduate, Shing Chow of Lalamove wanted to change the world as an entrepreneur. "The process of hiring a van is no longer a manual task since digital took over, and I saw this change as the opportunity of a lifetime. There is an old saying about how if you don't study hard as a child, you will end up as a transport worker - but studying hard led me to this sector. In the past, people thought this city was only strong at property development and finance, but as Hong Kong becomes more tech-driven, we can change the way people think."

- Taking on the World

Fast-growing start-ups should view the global market as part of their recipe for success, according to Mr Lau of the Commission on Youth. He encouraged entrepreneurs to develop not only in Hong Kong, but on the Chinese mainland and in overseas markets as their personal goals, business nature or products and services lead them. "Global connectivity is a double-edged sword," he said. "This means that global interaction becomes more frequent as competition increases, and entrepreneurs with a focus on the worldwide market can take things to a higher level."

Targeting youth aged 25 to 30, WeLab has built up a base of more than 17 million users, according to Mr Loong, who has learned that some start-ups can enjoy exponential growth when they are not dependent on face-to-face contact. A report called "Fintech 100 - Presenting the world's leading Fintech innovators for 2016" by KPMG, ranked WeLab sixth on the mainland and 33rd in the world. "Every country or region has its own regulations. So, we chose to open the huge market in our vicinity, the Chinese mainland," said Mr Loong.

Mr Chow of Lalamove said his entrepreneurial team has a strong commitment to success and his team members are willing to live in different cities to expand their business. While Mr Kwok of Tink Labs recalled studying philosophy and Arabic at the University of Chicago before dropping out to try and cater to the needs of travellers. He started with a service offering mobile phone handset rental at airports before widening the offer to include rental handsets and tablets at hotels around the world. He said a focus on "how to kickstart a business" was "not important, since the business model keeps on evolving."

- No Pain, No Funds

Speaking about persistent cash-flow problems entrepreneurs face, Ming-wai Lau noted that a range of sources should be pursued, with Hong Kong SAR Government assistance schemes and events such as Entrepreneur Day offering potential avenues for fundraising.

"The performance of the financing market is more volatile than that of the real economy. In 2014, O2O went hot, and investors responded swiftly with an actual investment amount. However, the trend reversed in late 2015," said Shing Chow of Lalamove. "We met with over 50 prospective investors, but none showed any interest. Venture capitalists have been hunting for unicorn start-ups (with an estimated valuation of US$1billion or above), and this is one major reason why we were being rejected."

But even Hong Kong's prospected "unicorn" start-up, Tink Labs, has hit fundraising roadblocks. "We were turned down more than 50 times. Don't take it too seriously when being rejected. Sticking to your beliefs and persistence counts," Mr Kwok said.

A popular method of fundraising is pitching, and Entrepreneur Day offered a forum for entrepreneurs in the form of pitching events, organised with StartHub, Hong Kong Startup Council and Cocoon, connecting start-ups with potential angel investors.

Entrepreneur Day website: www.hktdc.com/eday
Photo download: http://bit.ly/2q5MDPS

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

(Photo:) Noting that an entrepreneur's character is a key to success, Ming-wai Lau, Chairman of the Commission on Youth, said most entrepreneurs are curiosity-driven, willing to seek solutions and learn from the others.

About HKTDC

Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: https://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Contact:
HKTDC Communication and Public Affairs Department: Joe Kainz Tel: +852 2584 4216 Email: joe.kainz@hktdc.org

Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com
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