Hyundai Mobis (KRX: 012330) announced on 15th that the company has hired executive vice president, Axel J. Maschka as head of the Global Sales Division. Previously Maschka served as a senior VP and Executive Committee member at Valeo in charge of Sales and Business Development. Maschka has spent 30 years in the automotive industry after graduating from the University of Stuttgart in electrical engineering including a two years tenure at Telecom Paris Tech. German native, Maschka has worked in various automakers and suppliers including, Volvo, Mercedes-Benz, Bosch, and Continental. Recently, in France, he served as a founder and CEO at…
Author: Iselle Chua
Invest Hong Kong (InvestHK) released a joint report with KPMG that highlights Hong Kong’s enhanced role as a smart supply-chain services hub, with the city driving digital production through the use of technology tools in the 3D and virtual sampling space. Additionally, with a high concentration of sourcing talent, the city is the ideal regional and global sourcing hub to manage supply chains, and looks set to benefit as a centre for professional services, especially in the areas of environmental, social and governance (ESG) matters and sustainability. The report, entitled “Future of Sourcing: 2021 and Beyond”, draws on the insights…
EuroSports Global Limited, a distributor of luxury automobiles, announced that its wholly-owned subsidiary EuroSports Technologies Pte. Ltd (EST) had raised US$1.3 million from first round of fund raising in November 2019 andUS$5 million in funds today for its electric vehicle brand, Scorpio Electric. US$5 million of these funds were raised through share subscription agreements with investors while an additional amount of US$1.3 million was raised from EST convertible loans, where these loans would be automatically converted into EST Ordinary Shares after the closing of the EST Fundraising in accordance to the terms of the EST Convertible Loan Agreements. These funds…
In a joint statement issued yesterday, the World Tourism Organization (UNWTO) and the International Maritime Organization (IMO) highlight the importance of the cruise sector for the world economy. According to UNWTO, the cruise sector supports 1.2 million jobs and contributes US$150 billion to the global economy every year. Tourism is vitally important for Small Islands States, where it sustains millions of livelihoods and brings substantial socio-economic benefits. Since cruise operations were suspended worldwide due to the COVID-19 pandemic, the industry has been reviewing and enhancing its protocols to identify ways to go further in protecting the health of passengers, crew…
Aspen Group (ASX:APZ) announced that it has entered into conditional contracts to acquire a residential land site of approximately 11.5 hectares at 32 Sims Road, Mount Barker, South Australia under a Mortgagee in Possession sale. Settlement is expected to occur by the end of 2020 after the new title is created. The property adds to the group’s substantial cluster in South Australia alongside Adelaide Caravan Park, Highway 1, Coorong Quays and CREST at Woodside, and adds to the company’s local team of employees, consultants, and contractors. The purchase price is $4.51 million, equating to approximately $40,000 per hectare, $46,000 per…
H&M is thrilled to announce a collaboration with fashion brand The Vampire’s Wife, the brainchild of British designer, model and muse Susie Cave. A fashion insider favorite, The Vampire’s Wife is known for flattering silhouettes, glamourous details and an unbridled celebration of women and the female form. The collection is progressive in both attitude and fabrication; garments are made from sustainably sourced materials. The collection will be available in selected stores and online at HM.com beginning October 22nd. “It was a great honour to be asked to be the designer and the creative director of The Vampire’s Wife’s collaboration with H&M. H&M…
Listed developer Cebu Landmasters Inc (CLI) posted Php 10.5 billion reservation sales in the first nine months of the year, a 14 percent increase year-on-year. The sustained demand is a welcome news for the industry and a strong validation of CLI’s housing leadership in the Vismin market. CLI is on pace to surpass its 2019 sales performance in spite of the challenges brought about by the 2020 pandemic. The listed company registered P3.1 billion reservation sales in the third quarter of 2020. CLI homes from Php 1.5 million to Php 3 million that carry the popular economic brand Casa Mira…
Singapore Post has acquired a 38-per cent stake in Freight Management Holdings (FMH), a fourth-party logistics service company based in Victoria, Australia, for A$85 million (US$60.4 million), according to a disclosure. The purchaser will acquire the aggregate 38-per cent equity interest pursuant to the acquisition through a combination of subscription of new ordinary shares to be issued by FMH and the acquisition of existing ordinary shares from certain existing shareholders of the Australian firm. Singapore Post said it intends to set up a new holding company in Australia to hold its equity interest in FMH on completion of the acquisition.…
Huobi Global, the world’s leading digital asset exchange, today announced support for the Australian dollar (AUD), British pound sterling (GPB), and Euro (EUR) through Banxa, an internationally compliant fiat-to-crypto gateway solution. The partnership allows users in Australia, UK, and the European Union to purchase cryptocurrencies with their official fiat currencies. By integrating with Banxa’s payment solutions, Huobi is able to provide users with more flexibility and choice in payment methods, while also enabling a seamless user experience. Users can access the new fiat-to-crypto gateway directly from the Huobi OTC site and deposit AUD, GBP, or EUR to begin trading cryptocurrencies in…
Digital Wine Ventures Limited has entered into an agreement to acquire 100 per cent of the issued capital of Wine Delivery Australia, a South Australian-based fourth-party logistics provider servicing the wine industry. As part of the acquisition, James Munn, founder and General Manager of Wine Delivery Australia, will be joining WineDepot executive team as Head of Business Development (Logistics). Wine Delivery Australia is an Adelaide-based company that provides 4PL wine logistics services to South Australian wineries that allows them to dispatch orders directly to customers from their cellar doors, more economically than through the mainstream carriers. The key difference with…
Global health and beauty e-commerce leader iHerb is committing US $100 million in Russia within the next two years to better serve Russian communities it has supported for many years. This commitment will include a variety of areas such as exporting Russian products, partnerships with Russian logistics companies, expansion of our technology development center, and the building of robotic fulfillment centers. Such investments will enable vital health and personal care products to arrive at our customers’ homes more quickly and efficiently in furtherance of iHerb’s mission. “We are committed to our mission of offering our global customer base the earth’s best selection…
At the special stockholders’ meeting of China Banking Corporation (China Bank, PSE stock symbol: CHIB) held virtually on October 1, 2020, the stockholders ratified the Centennial Stock Grant Plan for employees of 100 China Bank shares per year of service and voted to elect Claire Ann T. Yap as the Bank’s 4th independent director. To commemorate China Bank’s 100th anniversary this year, the Board approved on August 5 the Centennial Stock Grant Plan. New shares will be issued from its authorized but unissued shares in favor of China Bank Group regular employees and certain other officers and contractual employees (as…
Residential developer Cebu Landmasters Inc. (CLI) recently marked the completion of the three-tower P1.2 billion Mesaverte Residences in Cagayan de Oro City and has started to turnover more than half of the development’s 700 units to their owners. Mesaverte Residences is expected to generate about P2 billion gross revenues for CLI which posted record reservation sales from housing projects of P7.43 billion in 1H 2020, a growth of 41% year-on-year. Mesaverte Residences is the third completed project of CLI’s mid-market Garden Series, the listed company’s top revenue contributor in H1 2020. Construction work governed by strict safety guidelines continued even…
While overall market sentiment in the first half of the year was affected by the COVID-19 pandemic and economic concerns, Hong Kong proved more resilient than most bourses globally, with new economy listings seen as a key driver, according to KPMG analysis. Closely trailing NASDAQ, the Shanghai Stock Exchange meanwhile came second in terms of funds raised, backed by sizeable listings and the STAR market’s continuing popularity. KPMG’s latest analysis finds that proceeds from global IPOs in the first half of 2020 decreased by 8 percent to USD 68.8 billion compared with the same period last year, mostly due to…
South Korea’s Lotte Group has handed over VND3.66 billion ($159,000) through the Vietnam Fatherland Front Committee to the Central Pediatric Hospital and 108 Military Hospital, with the desire to accompany the country on the road to economic and social recovery after the COVID-19 pandemic. The money was donated by five subsidiaries of Lotte Group, including Lotte Vietnam Shopping JSC (Lotte Mart and Lotte Department Store), Lotte Global Logistics, Lotte Rental (Vietnam) Ltd., and Lotte Hotel Ltd. “Sustainable development and corporate social responsibility are Lotte Group’s operational objectives in Vietnam. The subsidiaries in the group are committed to long-term co-operation and…
HONG KONG – AIA Company Limited has received approval from the China Banking and Insurance Regulatory Commission to convert its Shanghai Branch into a wholly-owned subsidiary of AIA Co. This new subsidiary will be incorporated in Shanghai and is the first wholly foreign-owned life insurance company approved for incorporation in Mainland China. The insurance company will now begin the application process for separate regulatory approvals to establish branches of the newly incorporated subsidiary in additional territories in Mainland China. Lee Yuan Siong, AIA Group Chief Executive and President, said AIA is the first foreign company to receive approval to set…
ResApp Health Ltd, an ASX-listed digital health company, has signed a deal with global health products manufacturer RB to develop a smartphone app for consumers. In a disclosure, ResApp said the app will utilise the company’s cough-based algorithms to identify different respiratory conditions and provide recommended next steps. Also Read: Respiri Inks Deal with Pharmacy Guild of Australia ResApp and RB have agreed to exclusively work together to build and test a prototype app for consumers to self-assess, or assess with the assistance of a pharmacist, their respiratory symptoms. The cmpany’s machine learning algorithms use sound to diagnose and measure the…
KUALA LUMPUR – Principal Asset Management Berhad Group announced that it is bringing the global Giving Chain initiative, a community-based Covid-19 relief efforts, to the ASEAN region. The Giving Chain Initiatives directly assists those experiencing financial hardship due to the pandemic by providing meals, family activity kits, and direct payments. In Malaysia, during the holy month of Ramadan, Principal stood together with PERTIWI Soup Kitchen, a non-profit organisation preparing 10,000 meals to ease the struggle of Malaysians living in urban poverty and local businesses especially the small and medium-sized enterprises facing adverse economic challenges. Principal contributed RM50,000 in cash donation…
ZHOUSHAN, China – Chinese energy and chemical firm China Petroleum & Chemical Corporation (Sinopec) announced that it has set China’s new record of highest integral hoisting weight by a single equipment, after successfully installing the world’s first and largest slurry-bed residue hdyrogenation reactor of 3,000 tonnage in 15 hours in Zhoushan. Designed by Sinopec Engineering, the largest single-unit hydrogenation reactor in the world weighs 3,025 tons, which is the equivalent of 17 blue whales, the biggest animal on earth, and has a height of 72 meters (236.2 feet) that corresponds to a 26-story building. The reactor’s outside diameter is 6.156…
MANILA – Philippine-listed PLDT Inc announced that the Asia Direct Cable (ADC) Consortium, of which it is a member, is building a high-performance submarine cable connecting the Philippines, China (Hong Kong SAR and Guangdong Province), Japan, Singapore, Thailand, and Vietnam. The consortium has selected NEC Corporation to construct the 9,400-kilometer long ADC cable, which is expected to be completed by the fourth quarter of 2022. The ADC cable system will strengthen the resiliency of PLDT’s international network by providing additional capacity for internet and digital services via a new route through the East and Southeast regions. Its high capacity allows…