Cross-sectors with over 100 organisations and 12 ambassadors collaborate for the first time to improve financial literacy and promote Hong Kong as a city that values financial well-being; Money Month Education Fair offers experiential and fun learning and addresses specific education needs; Money Learning Directory provides a one-stop financial education resource guide to enable public learning HONG KONG — The Investor Education Centre (IEC) today launched “Money Month,” Hong Kong’s first territory-wide financial education campaign under its cross-sectoral collaboration platform “Hong Kong Strategy for Financial Literacy” (HKSFL). The campaign brings together for the first time some 100 supporting organisations and…
Author: Marie Jones
SINGAPORE — The Singaporean Private Equity Tech Conference (PETC) 2017 will be the latest in a series of events which is attracting a strong following among leading Asian private equity LPs and GPs. To be held on Friday, February 24th at the Novotel Singapore Clarke Quay, the event will build on the success of the Asian PETC 2016, held in Malaysia, and the Australian PETC 2016, held in Sydney in October. The Singapore PETC will gather 150+ attendees from across Asia to meet and discuss latest best practice in the industry under the theme “Bridging Investment Opportunities in Asian Companies”. READ…
TOKYO — Tokyo-based Trillium Inc, a leading contender in the global race to close the cyber-security gap that threatens to stop self-driving cars in their tracks, today announced the successful closing of its Series A financing round with investments by lead investor Global Brain, Mizuho Capital and DBJ Capital. Trillium designs and provides custom, multi-layer adaptive cyber-security systems, focused in the near-term on automotive needs – but applicable to the entire IoT spectrum. “With funding now in place, we are set to move quickly to market with a robust and urgently needed solution,” said David Uze, Trillium’s CEO. “Hundreds…
HONG KONG — Hua Hong Semiconductor Limited (“Hua Hong Semiconductor” or the “Company”, together with its subsidiaries, the “Group”; stock code: 1347.HK), a global leading pure-play 200mm foundry, today announced that its financial IC card chips shipment has more than doubled in 2016, up to about 200 million, including chips for bank IC cards, as well as social security and health cards with financial payment function. Compared with traditional magnetic cards, financial IC cards featuring an embedded chip for data storage deliver such features as high security, large memory and versatility, which will gradually replace traditional magnetic cards. Now, the People’s…
Profit and Total Comprehensive Income Attributable to Owners of the Company Expected to increase no less than 75% HONG KONG — China Art Financial Holdings Limited (“China Art Financial” or the “Company”, together with its subsidiaries, the “Group”, stock code: 1572.HK), the leading art finance service provider in China is pleased to announce that, the Group expects to record an increase by not less than 75% in its profit and total comprehensive income attributable to owners of the Company for the year ended 31 December 2016. The significant increase was primarily attributable to significant increase in revenue from art auction business…
CENGKARENG, INDONESIA — National flag carrier Garuda Indonesia plans to launch direct flights from Jakarta to Moscow in August 2017. Operated by Airbus A330-200, this route will be served 3 times a week. The plan was announced by the CEO & President of Garuda Indonesia M. Arif Wibowo in Jakarta, Tuesday (14/2), at a meeting with Russian Ambassador to Indonesia Mikhail Yurievich Galuzyn and Indonesian Ambassador to Russia Wahid Supriyadi. The meeting, which took place at Garuda Indonesia Office, Jakarta, specifically addressed the new direct flight route from Jakarta to Moscow in the form of memorandum of understanding (MoU). The MoU…
HONG KONG — The board of directors of FDG Electric Vehicles Limited (“FDG”, stock code: 729.HK) (the “Company”, and together with its subsidiaries, the “Group”) is pleased to announce that Mr. Tong Zhiyuan (“Mr. Tong”) has been appointed as the Chief Operating Officer of the Group and an executive director of the Company with effect from 15 February 2017. As the Chief Operating Officer of the Group, Mr. Tong acts as the head of electric vehicle division of the Group which includes the Hangzhou, Kunming and Guizhou production facilities, responsible for its daily operation and management, research and development, manufacture, distribution,…
Excitement builds for pan-Asian Awards Ceremony to be held in Singapore on February 23 SINGAPORE — In what promises to be a stimulating year for data center and cloud invention, the shortlist for the Datacloud Asia Awards* has been announced. The Datacloud Asia Awards will be presented at a gala ceremony and dinner in Singapore on the 23rd of February 2017. As a genuine leader in the industry, the Datacloud Awards are globally relevant, and seeks to recognize the continuing digital transformation and evolution of the sector. Following the success of the annual Datacloud Europe Awards, this innovative format, with an…
BANGKOK — Fast-growing SET-listed digital finance firm Group Lease Public Company Limited (SET:GL) has posted net profits of 324.4 million baht in the three-month period ending 2016, which marks a new record high for the ninth consecutive quarter. Adding that to the 738.4 million baht profits in the first nine months of the year, all-year 2016 profits topped 1.062 billion baht, which represents a whopping 82.34% increase from the year before. The all-year 2016 profits, which exceeded the management’s target of 1 billion baht, reflected improved financial performance in all the markets in which GL operates, particularly in the two key…
Still room for improvement for the newly-listed and new index constituents HONG KONG — The Hong Kong Institute of Directors (“HKIoD”) has today announced the results of the “2016 HKIoD Corporate Governance Score-card”. The surveyed sample consisted of 120 firms versus 121 in the last survey in 2012. The survey also corresponded to the OECD Principles of Corporate Governance (2015 edition) to include new areas of assessment, such as risk management structure and functions, CSR reporting timeliness and quality, and structure of the corporate governance committee, reflecting corporate governance development that took place in the past few years and latest requirement.…
International Energy Group’s revenue and profit for the six months ended 31 December 2016 far surpass its performance for the entire previous financial year SINGAPORE — New Silkroutes Group Limited (“NSG” or the “Group”), an investment holding company with core capabilities in energy trading and healthcare management, said today its wholly-owned International Energy Group Pte Ltd (“IEG”) has achieved its biggest quarterly revenue and net profit since the oil and gas subsidiary started operations in June 2015. Summary of Results: https://www.acnnewswire.com/topimg/Low_NSG_1HFY2017_1.jpg IEG’s revenue for its fiscal second quarter ended 31 December 2016 (“2QFY2017”) rose to US$123.7 million from US$5.8 million for…
TOKYO — nexo Standards, the open standards association dedicated to the creation of implementation specifications for card payment acceptance globally, and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., today announced that JCB became the Principle Member of nexo Standards in its Card Schemes category. nexo Standards, headquartered in Brussels, works on behalf of all card payment stakeholders to harmonise contact and contactless card payment acceptance. By developing new protocols and implementation specifications which promote interoperability between card acceptance and acquiring solutions, together with integrated retail and terminal management systems, nexo Standards is developing a new generation…
HONG KONG — Sino Harbour (Stock code: 1663) today announced its unaudited results for the nine months ended 31 December 2016. During the period under review, profit after tax up 152.3% year-on-year to RMB79.5 million. During the first nine months, Sino Harbour’s revenue increased by 27.5% to approximately RMB605.2 million, mainly attributable to the delivery of residential units of Nanchang Sino Harbour Kaixuan City Zone 3 and Fuzhou Hua Cui Ting Yuan Phase 3. Gross profit margin improved by 8.5 percentage points to 22.0% thanks to a higher profit margin of Nanchang Sino Harbour Kaixuan City Zone 3. As at 31…
By Peter Sartori, Head of Equity, Asia, and Peter Monson, Senior Equity Analyst, Nikko Asset Management, 9 February 2017 TOKYO — This paper reflects on recent industry research into ESG and Nikko AM’s own experience in applying ESG analysis – particularly Asian EM stocks, as well as what we see as key lessons learned. – Using Environmental, Social and Governance (ESG) factors in the search for alpha is complex, particularly in Emerging Markets. — Investors will often have their own standards for what constitutes acceptable ESG criteria. — The contribution of ESG to investment performance is often difficult to establish, especially…
HONG KONG — Ausnutria Dairy Corporation Ltd (“Ausnutria” or the “Company”, together with its subsidiaries, the “Group”; stock code: 1717.HK), has announced that it expects to record an increase by not less than 315% in its profit attributable to the shareholders, in the range of RMB210 million to RMB219 million for the year ended 31 December 2016 when compared with the same period of 2015 of RMB50.6 million. Austnutria is a dairy company which specializes in the manufacture and distribution of infant formula and nutrition products with production facilities based in the Netherlands, the PRC and Australia, The significant increase was…
HONG KONG — Miricor Enterprises Holdings Limited (“Miricor” or the “Group”, stock code: 8358), a medical aesthetic service provider in Hong Kong, today announced its third quarterly results of FY2016/17 after its successful listing on The Stock Exchange of Hong Kong Limited on 10 January 2017. The Group’s revenue increased by 21.9% to HK$74.5 million for the nine months ended 31 December 2016 (the “Period Under Review”), comparing to the corresponding period of 2015. The increase was primarily attributable to the successful launch of member referral scheme and the introduction of two new treatments for facial and body. Net profit during…
HONG KONG — Northern New Energy Holdings Limited (“Northern New Energy” / the “Group;” stock code: 8246) has today announced a positive profit alert. Based on information currently available, Northern New Energy is expected to record a substantial increase in the net profit for the year ended 31 December 2016, mainly attributable to (i) a substantial increase in total revenue and resulting profit of the Group mainly generated by the Group’s new energy business; and (ii) a decrease in the unaudited consolidated loss attributable to the Group’s catering business as a result of effective cost reduction and control measures plus having…
Almaty, Kazakhstan and Tokyo, Japan — JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the launch of JCB card acceptance through Kazkommertsbank (Qazkom), which is one of the largest commercial banks in the Commonwealth of Independent States (CIS) and the largest by assets in Kazakhstan. This arrangement was achieved based on the strategic relationship between Discover and JCB starting in 2006, which has enabled JCB card acceptance on the Discover Network in the U.S., and Discover card acceptance on the JCB network in Japan. Kazkommertsbank is the leading bank with the largest network in the…
Jakarta, Indonesia and New York, USA — Global public health experts Vital Strategies today congratulated health advocates, artists and the people of Kali Code village, Yogyakarta, on the unveiling of “Show Your True Colors,” a community project to paint anti-tobacco graphic murals (designed by renowned graffiti artist Koma) throughout the village. This initiative subverts the actions Philip Morris International, which gained national and international notoriety in 2015 by painting the village in the colors of one of its tobacco brands and cynically using it as part of its “Show Your Colors” marketing campaign. A conservative analysis by Vital Strategies estimates that…
Four Designers Rock the Museum with AW17 Collections HONG KONG — The Hong Kong Trade Development Council (HKTDC) presented a Fashion Hong Kong runway show that featured four leading Hong Kong designers – Kenax Leung, Dora Chu, Kay Li and Vickie Au during the stunning Copenhagen Fashion Week (AW17) and Copenhagen International Fashion Fair (CIFF) from 31 January to 3 February 2017. For the first time, the Fashion Hong Kong show (31 January) was held at Thorvaldsens Museum, a historic venue built in 1848 and surrounded by world-class art and sculptures unique to Copenhagen. Together with the inspiring fashion designs,…