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ACN Newswire press release news - Recent Press Releases

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    Jenny Cheung, a lecturer at the Technological and Higher Education Institute of Hong Kong, says DesignInspire is a truly international event, with pavilions showcasing designs from Japan, Korea, Melbourne and various Mainland China cities. There are plenty of design exhibits that help to inspire innovation, she says.
    Smart Robots and Award-winning Gadgets Inspire and Entertain

    HONG KONG, Dec 7, 2018 - (ACN Newswire) - Organised by the Hong Kong Trade Development Council (HKTDC), the second edition of DesignInspire is held from 6-8 Dec, finishing tomorrow. Under the theme "Co-create a Happy city," the show aims to let members of the public experience how innovative designs can improve the quality of city life.

    Dancing Robots and a Portrait-drawing Arm

    Robotics is the talk of the town as smart cities and smart living begin to change the world. In the "Urbanovation" pavilion, visitors get ready to be amused by the state-of-the-art robots on display. Watch Aelos, which debuted during the 2018 Winter Olympics, performs dances and somersaults - 20 different moves in total! On the other "hand," visitors can have their portrait drawn by the multifunctional robotic arm created by the University of Hong Kong's Engineering Department.

    Education has a vital role to play in building sustainable innovation. STEAM education, which integrates the studies of science, technology, engineering, arts and mathematics, is having a big impact on young lives. At DesignInspire, children can have fun creating their own robots through the Robobloq platform, with its intelligent wireless electronic modules and easy-to-use drag-and-drop graphical programming software. In addition, a series of workshops covering STEAM subjects is running throughout the three-day event, including the "Mobile Virtual Reality Smart City SEAM Workshop" and "Building a Happy City" workshop.

    Innovative Hong Kong Design Goes Green

    Being green is as important as being smart in society's vision for the future. Artech Graphics, which specialises in event and exhibition decoration, is showcasing an installation that exemplifies how eco design can also be good design, using the theme of the struggle that polar bears face under global warming. "Our exhibit is built using eco-friendly materials that are both light and weight-bearing, and are also easier reuse or recycle than wood and plastic. They not only are gentle to the environment but also cost a third less than traditional materials, so more and more customers are considering choosing our materials and services," said Artech Managing Director Edward Yeung.

    Wonderful designs are everywhere at DesignInspire. The Hong Kong Smart Design Awards showcase several prize-winning products that are brilliantly designed, practical, and also fun. They include a Rubik's Cube with a Cantonese idiom theme, an automatic pet feeder and a plant waterer. Leo Yiu, who earned a merit in the awards with his Stackable Vase, said: "I used to focus on interior and homeware product design, but from this year I'm creating more brand products. I'm very honoured to have won several awards, which has helped to improve my sales and led to more and more customers seeking out my design services. During the exhibition, I was approached a number of times by packaging and product manufacturers from the mainland [Mainland China]."

    Grab a Gadget from the Pop-up Shop

    The pop-up shop at DesignInspire is brimming with cool gadgets to take home, including the Plump Planet Friends design stationery, toys and tote bags; door stoppers and bookends featuring cute fabric animals; cutlery and accessories with antibacterial coatings, and many more. Furthermore, visitors can take part in the many free-to-join activities scattered around the fairground such as origami, colouring games and 3D paper-model making. There's also a gigantic capsule toy machine that is fun for children and not-so-grown-up adults alike.

    DesignInspire is the place to be this weekend for the whole family to have fun!

    Photo Download: https://bit.ly/2E4RuLG

    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 50 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 more than 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 business insights and 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.

    Contact:
    Banbi Chen, Tel: +852 2584 4525, Email: banbi.yc.chen@hktdc.org

    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Group photo of 2018 Members Meeting of the China Cross-border Data Telecommunications Industry Alliance
    Mr. Harris Peng, VP of the Business Development Department, China Entercom, spoke at the event.
    China Entercom recognized alongside other Alliance members for rectification efforts

    HONG KONG, Dec 7, 2018 - (ACN Newswire) - CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), today announced its subsidiary China Enterprise ICT Solutions Limited ("China Entercom"), a member of the China Cross-border Data Telecommunications Industry Alliance, participated in the annual Members Meeting. A representative of China Entercom was also invited to speak at this key event.

    The China Cross-border Data Telecommunications Industry Alliance annually holds its Members Meeting to summarize the Alliance's activities over the past 12 months and discuss plans for the upcoming year. This year, the event was held in Beijing on November 16, 2018.

    During the 2018 Members Meeting, Mr. Zhang Jianhua, Director of the Marketing Department at the Information and Communication Bureau of the Ministry of Industry and Information Technology of the PRC, spoke on various key areas of China's information and communications market, including explaining regulations of concern to enterprises (such as the reform and regulation of the Internet access service market), and elaborated on efforts made to manage credit. Mr. Zhang also reported on the rectification status of the Alliance's official members, in the members' efforts toward compliance with the latest government standards, and proposed a key step for regulating China's information and communications market in 2019: "Highlighting regulation focus, strengthening enforcement and accountability". Mr. Zhang also urged China's domestic telecom operators to devote more effort toward upgrading network performance while reducing tariffs. He also stressed all Alliance members should maintain high levels of integrity, and that the Alliance should continue to serve as a bridge to facilitate industry collaboration. Mr. Zhang also recognized Alliance and its members for their efforts.

    As official Alliance members, China Entercom and the other eight telecom companies were acknowledged by the local Communications Administration for successful rectification. A representative of China Entercom was invited to deliver a speech, during which he conveyed the company's gratitude for recognition received from senior officials of the Ministry of Industry and Information Technology of the PRC, as well as for the Alliance's support and invaluable services. He reiterated that China Entercom will continue to maintain a high level of integrity to ensure its business operates in compliance with established law and to the satisfaction of relevant authorities dedicated to the advancement of the industry.

    CITIC Telecom CPC is greatly honored that China Entercom was acknowledged by the local Communications Administration for its rectification efforts, as well as for meeting communications service requirements and providing reliable and stable network access services. This latest recognition milestone also means enterprise customers can benefit from the company's full range of ICT solutions, capture opportunities arising from the One Belt, One Road Initiative, attain greater success and further extend their global business footprints.

    About CITIC Telecom CPC (www.citictel-cpc.com)
    CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serves multinational enterprises the world over by addressing their specific ICT requirements with highly scalable tailored solutions built upon the company's flagship technology suites, comprising TrueCONNECT(TM) private network solutions, TrustCSI(TM) information security solutions, DataHOUSE(TM) global unified cloud data center solutions, and SmartCLOUD(TM) cloud computing solutions.

    As one of the first managed service providers in Hong Kong to achieve ISO 9001, 14001, 20000, 27001, and 27017 ICT-related certifications, CITIC Telecom CPC delivers on its superior quality commitment through a broad global footprint encompassing some of the highest growth markets in Asia, Europe and America, with over 140 points of presence, 18+ Cloud service centers, 30+ data centers, and two dedicated 24x7 Security Operations Centers.

    About China Entercom (www.china-entercom.com)
    China Enterprise ICT Solutions Limited ("China Entercom"), a subsidiary of CITIC Group, is a trusted Information and Communications Technology (ICT) solutions provider. China Entercom possesses strong reputation, financial and regulatory background, wide network coverage, diversified products and services, as well as world-class infrastructure. It has Type-I and Type-II IP private network licenses from the Ministry of Industry and Information Technology (MIIT), and is the first value-added service provider in China with nationwide IP VPN license, IDC multi-region license, and ICP nationwide license. China Entercom is also the only value-added service provider in China with multiple certifications: TRUSTED CLOUD, TL9000, ISO9001, ISO20000, ISO27001 and ISO 27017.

    At CITIC Telecom CPC and China Entercom, "Innovation Never Stops."

    Media Contacts:
    Rowena Leung
    CITIC Telecom International CPC Limited
    (+852) 2170 7536
    Email: rowena.leung@citictel-cpc.com

    Lucia Li
    China Enterprise ICT Solutions Limited
    (86) 010 8841 1188 - 2115
    Email: lucia.li@china-entercom.net


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    At "Industry 4.0 - Golden Opportunities and Challenges", a seminar held on the first day of the HKTDC SmartBiz Expo, experts and industry professionals examine the latest Industry 4.0 developments, technology applications and success stories.
    Expo Focuses on Opportunities Presented by Industry 4.0

    HONG KONG, Dec 7, 2018 - (ACN Newswire) - The second edition of the HKTDC SmartBiz Expo and the fourth HKTDC Hong Kong International Franchising Show, organised by the Hong Kong Trade Development Council (HKTDC), both concluded today. One of main themes at the expo this year was Industry 4.0, with a seminar titled "Industry 4.0 - Golden Opportunities and Challenges" held on 5 Dec. Experts and industry professionals were invited to examine the latest Industry 4.0 developments, technology applications and local success cases for the benefit of small to medium-size enterprises (SMEs).

    Industry 4.0 Applications Begin to Diversify

    Starting the discussion at the seminar was Lyan Law, Lead Consultant, Industry 4.0 of the Hong Kong Productivity Council, who shared some of Hong Kong's experiences and achievements in promoting the development of Industry 4.0 over the past few years. Mr Law said: "Two to three years ago, people were still not familiar with Industry 4.0. They knew only about the Internet and smart manufacturing. Later, people started thinking about automation and robotics, but today there is a general understanding that Industry 4.0 is about much more than automation; it also involves the Internet of Things (IoT) and big data, and all of these technological applications are interrelated."

    Smart Data Analytics are Key

    The idea for Industry 4.0 originated in Germany. Benny Drescher, Head of Business Development Asia Pacific, INC Invention Center of Germany's The Hatch, shared some Industry 4.0 examples from around the world, stressing that "data is an important resource". Mr Drescher pointed out that the number of IoT-related devices and parts around the world already exceeds 40 billion - with the number expected to surpass 50 billion by 2020. These devices will be generating massive amounts of data, as will the many sensors used in cars and the wearables that people use in their daily lives, such as mobile phones and watches. At the same time, manufacturing processes and procedures are also generating data. Mr Drescher said that without suitable data analytics technology, this sea of data would have no value, which is why smart data analytics will be crucial to the promotion of Industry 4.0.

    He added that, during logistical and manufacturing processes, smart data analytics can greatly enhance the efficiency of the entire manufacturing industry. "Having real-time messaging can facilitate real-time decision-making. It can reduce waste, predict maintenance needs, detect potential security problems, monitor product defects and omissions, and forecast manpower needs."

    He cited the example of how UPS, the American courier, leveraged smart data analytics to find the best delivery routes. This has shortened the company's delivery distances by 364 million miles and saved the company US$50 million in fuel costs since it was introduced. Smart data analytics can also help companies to formulate business strategies. Using Kroger, the well-known American retail group, as an example, Mr Drescher said the company used big data to examine the consumption behaviour of its customers and successfully launched a loyalty programme to boost sales.

    He added that The Hatch is cooperating with the Hong Kong Productivity Council to provide training, assessment, professional advisory and expert-matching services to Hong Kong's enterprises to help them become world-class innovators.

    Hong Kong Enterprises Stay Up to Speed

    Sharing the reason why his company decided to implement Industry 4.0, and its experience in going through the transition, Henry Kwan, Innovation Development Assistant Manager of Trio Engineering Company Limited, said that many Hong Kong enterprises are realising that they cannot afford to carry on doing business as they did in the past. During its 30 years of operation, Trio Engineering has gradually moved from manufacturing simple electronic products and circuit boards to producing power generation-related products and security equipment. At the same time, it has recognised that clients are becoming increasingly demanding and are expecting instantaneous feedback and a shorter lead-time. Competition is also intensifying with more factories heading towards smart manufacturing. "Germany has Industry 4.0; China has 'Made in China 2025'. We must follow the trends and evolve," Mr Kwan said.

    He added that, in promoting Industry 4.0, companies must implement the concept fully throughout the organisation and not just use it as an empty slogan. There must also be consensus around the details of its implementation. "Whether it is a top-down or bottom-up approach, the process will involve changing a company's culture and management style. As such, it is best that clear communication be established beforehand."

    He stressed that there will be challenges along the way. The key is to maintain good internal communication and get staff buy-in on issues such as the direction being taken, investments in hardware and software, adjustments that need to be made based on feasibility, and picking the right time to put plans into action.

    Business Opportunities in Smart City, E-Commerce and Franchising

    This year's SmartBiz Expo featured more than 520 exhibitors from 40 countries and regions, offering a variety of business solutions and innovative business ideas. In addition to Industry 4.0, smart city development and e-commerce were the other key topics spotlighted at the expo, with the HKTDC organising a series of seminars to help SMEs enhance their understanding on all the issues.

    Held in parallel with the expo was the Hong Kong International Franchising Show. This year, more than 130 exhibitors from 13 countries and regions took part in the show. There were four key zones, including the Hong Kong Food and Beverage zone, the Hong Kong Non-Food and Beverage zone, the Chinese Mainland zone and the International zone, showcasing franchising opportunities across different industries.

    Concurrent Events Help Develop New Business Areas

    The HKTDC is holding five events at the Hong Kong Convention and Exhibition Centre this week - the Asian E-tailing Summit (5 Dec), the HKTDC SmartBiz Expo (5-7 Dec), the HKTDC Hong Kong International Franchising Show (5-7 Dec), the Business of IP Asia Forum (6-7 Dec) and DesignInspire (6-8 Dec). These events focus on new technology and cover various stages of the value chain, including research and development, design, production, sales and marketing. They aim to help SMEs enhance their competitiveness and cost-effectiveness and develop new business areas and markets to adapt to the ever-changing economic landscape.

    Fair websites:
    HKTDC SmartBiz Expo: http://www.hktdc.com/smartbizexpo
    HKTDC Hong Kong International Franchising Show: http://www.hktdc.com/hkifs
    Photo download: https://bit.ly/2REhtxv

    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 50 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 more than 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 business insights and 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.

    Contact:
    Billy Ng, Tel: +852 2584 4393, Email: billy.km.ng@hktdc.org

    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Offers 1,880,077,547 Shares by Way of Global Offering;
    Offer Price Ranges from HK$1.89 to HK$2.42 Per Share;
    To Adopt High Dividend Payout Policy after Listing;
    Intends to Distribute 100% of Distributable Income

    HONG KONG, Dec 10, 2018 - (ACN Newswire) - Xinyi Energy Holdings Limited ("Xinyi Energy" or the "Group"), a leading non-State owned solar farm owner and operator in the PRC today announced the details of the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") by way of global offering (the "Global Offering").

    Investment Highlights
    - In terms of approved capacity of owned and managed utility-scale ground-mounted solar farm projects in operation, Xinyi Energy is a leading non-State owned solar farm owner and operator in the PRC. All of these solar farm projects are strategically located in Anhui, Henan, Hubei and Fujian Provinces and Tianjin Municipality, in the PRC, with low curtailment risks. The solar farm projects are relatively new and enjoy long asset life and generate stable revenue by selling electricity to local subsidiaries of the State Grid under the Feed-in-Tariff regime
    - Aggregate approved capacity of its Initial Portfolio is 954 MW from a total of nine utility-scale ground-mounted solar farm projects. Xinyi Energy will acquire a total of six utility-scale ground-mounted solar farm projects under the Target Portfolio with an approved capacity of 540 MW upon Listing. Shortly after the Listing, Xinyi Energy will own and operate 15 utility-scale ground-mounted solar projects in the total approved capacity of 1,494 MW
    - Xinyi Energy will adopt a high dividend payout policy after listing of not less than 90% of distributable income each year, with an intent to distribute 100% of that income in respect of each year. The final dividend for the year 2018 is expected to represent 50% of the total amount of its distributable income for the year. In 2019 and 2020, Xinyi Energy intends to declare and distribute interim and final dividend representing 100% of its distributable income
    - As a member of Xinyi Group, Xinyi Energy's management possesses extensive management and operation experience with listed companies to enhance operations efficiency, lower operating costs and maintenance expenses. Moreover, Xinyi Energy continue to be a non-wholly owned subsidiary of Xinyi Solar after Listing, so it will have a call option (Solar Farm Call Option) and the right of first refusal of the solar farm (Solar Farm ROFR) over the utility-scale ground-mounted construction completed and grid connected solar farm projects constructed or developed by Xinyi Solar. This together with the proven track record in solar farm development of Xinyi Solar will effectively support Xinyi Energy's future business growth and dividend growth
    - The PRC is the largest and fastest growing solar energy market in the world, and is expected to continue to lead the global market in terms of annual solar power installation and capital investment in solar farm projects between 2017 and 2020. In 2017, the PRC led the world as the largest solar power installation market for the fifth consecutive year, installing 53.1 GW of new solar power, and accounting for 53% of the solar power capacity installed globally during the year, demonstrating the tremendous market development potential

    Offering Details
    Xinyi Energy intends to offer an aggregate of 1,880,077,547 shares (the "Offer Share") by way of the Global Offering (subject to the re-allocation and over-allotment option), of which 90% will be for International Offering (subject to over-allocation option and the re-allocation) and the remaining 10% will be for the Hong Kong Public Offering (subject to re-allocation). Out of the Offer Shares for the International Offering, 765,967,547 Offer Shares will be offered to shareholders to Xinyi Solar on an assured basis. Xinyi Glass (stock code: 868.HK), as a shareholder of Xinyi Solar, has indicated that it will participate in the assured offering pro rata to its assured entitlement and may apply for excess Offer Shares under assured offering. The indicative offer price (the "Offer Price") range is between HK$1.89 and HK$2.42 per Offer Share. After deducting underwriting fees and estimated expenses, assuming an Offer Price of HK$2.155 (being the mid-point of the indicative range of the Offer Price) and that the over-allotment option is not exercised, net proceeds from the Global Offering are estimated to be approximately HK$3,910 million.

    The Hong Kong Public Offer will commence at 9:00 a.m. on 10 December 2018 (Monday) and end at 12:00 noon on 13 December 2018 (Thursday). The final offer price and the allotment results will be announced on 20 December 2018 (Thursday). Trading in the shares is expected to commence on the Main Board of the SEHK on 21 December 2018 (Friday) under the stock code 3868. The shares will be traded in board lots of 2,000 shares each.

    BNP Paribas Securities (Asia) Limited is the Sole Sponsor, Sole Global Coordinator, Joint Bookrunner and Joint Lead Manager of the Global Offering. BOCI Asia Limited, DBS Asia Capital Limited and The Hongkong and Shanghai Banking Corporation Limited are Joint Bookrunners and Joint Lead Managers.

    Investment Highlights
    Xinyi Energy is a leading non-State owned solar farm owner and operator in the PRC with a high dividend payout ratio
    Xinyi Energy is a leading non-State owned solar farm owner and operator in the PRC in terms of approved capacity of the utility-scale ground-mounted solar farm projects in operation owned and managed by Xinyi Energy. It owns and operates utility-scale ground-mounted solar farm projects initially developed and constructed by Xinyi Solar. Aggregate approved capacity of Xinyi Energy's Initial Portfolio is 954 MW in a total of nine projects. Pursuant to the Target Sale and Purchase Agreement, Xinyi Energy will acquire a total of six utility-scale ground-mounted solar farm projects under the Target Portfolio with an approved capacity of 540 MW upon Listing. Its operation scale will increase to 1,494 MW over a total of 15 projects, bringing growth momentum to Xinyi Energy.

    Xinyi Energy will adopt a high dividend payout policy after listing planning distributions in each year of not less than 90% of distributable income, with an intent to distribute 100% of its distributable income annually. The final dividend ending the financial year 2018 is expected to represent 50% of its total distributable income for the year. During the two years ending financial year 2020, it expects to declare and distribute interim and final dividends representing 100% of its distributable income. Unlike other solar farm business operators, Xinyi Energy is not engaged in solar farm development and construction businesses and hence is not directly affected by any policies regulating construction of new solar farm in the PRC. During the track record period, Xinyi Energy's revenue generated from the sale of electricity grew from HK$313.0 million in 2015 to HK$1,116.0 million in 2017. The revenue generated from the solar farm projects under its Initial Portfolio amounted to HK$605 million for the six months ended 30 June 2018, as compared with HK$586 million for the six months ended 30 June 2017.

    According to the SgurrEnergy Report, in terms of accumulated grid-connected utility-scale approved capacity as of 31 December 2017, Xinyi Solar, Xinyi Energy's parent company, ranked sixth in the solar farm development industry in the PRC amongst the non-state owned solar farm operators in the PRC with a total approved capacity of 1,754 MW. Xinyi Energy will continue to be a non-wholly owned subsidiary of Xinyi Solar after listing, so it will have a call option and the right of Solar Farm ROFR owned by Xinyi Solar. Xinyi Solar's proven track record in solar farm development, its industry leadership and approved capacity scale are beneficial to and effectively support Xinyi Energy's future business and dividend growth.

    Solar farm projects with predictable performance, expected long asset life and low risks as well as investment return certainty supported by the Feed-in-Tariff regime
    Xinyi Energy's solar farm portfolio consists of grid-connected utility-scale ground-mounted solar farm projects currently generating revenue and using proven, reliable and effective technologies. All solar farm projects under both its Initial Portfolio and Target Portfolio are strategically located in Anhui, Henan, Hubei and Fujian Provinces as well as Tianjin Municipality in the PRC. Due to the growth in the domestic and industrial electricity demand and solar irradiation variation across one year typically within a range of 2% to 3% from the average, the projects have low curtailment risks and long asset life. Xinyi Energy can sell electricity to local subsidiaries of the State Grid with low counterparty risks, and thereby generate stable revenue for Xinyi Energy. All of the utility-scale ground-mounted solar farm projects under its Initial Portfolio have been in full business operation within the past four years and their approved capacity has remained unchanged. Solar farms typically require lower operational cost and maintenance expenses as compared to that of conventional energy sources. As the solar farm projects in the portfolio are relatively newly constructed, the maintenance expenditure associated with replacement of parts is not significant, so it faces no risk of fuel cost fluctuation.

    Under the Feed-in-Tariff regime, utility-scale ground-mounted solar farm projects constructed under the national quota system in the PRC are in principle entitled to receive that tariff at the same applicable rate for 20 years on the electricity generated after the solar farm projects are grid-connected. The utility-scale ground mounted solar farm projects under its Initial Portfolio, which are constructed under the national quota system in the PRC, are in principle entitled to receive the Feed-in-Tariff at the same applicable rate for an average remaining duration of 17 years. Those eligible solar farm projects are listed in the Subsidy Catalogue, which is a prerequisite for the receipt of the tariff adjustment. In addition, pursuant to the power purchase agreements, the State Grid shall purchase all electricity generated from Xinyi Energy's solar farms projects. The National Development and Reform Commission (NDRC) released a utilization hour protection policy in May 2016, which provides a guaranteed level of off-take hours for solar farm projects. The shortfall would be compensated by the State Grid in the full amount, so the Initial Portfolio will generate a stable and predictable return for Xinyi Energy.

    The PRC is the world's largest and the fastest growing solar power market with the favourable PRC government policies on the renewable energy sector, creating ample room for growth to Xinyi Energy
    Solar power installation has rapidly increased around the world. The cumulative solar power capacity in the PRC grew from 2.1 GW in 2011 to 130.3 GW by the end of 2017, demonstrating its strong potential with a CAGR of 80.3%. In 2017, the PRC led the world as the largest solar power installation market for the fifth consecutive year, with a new solar power installation capacity of 53.1 GW, and accounted for 53% of the globally installed solar power capacity during the year. The PRC is expected to continue to lead the global market in terms of annual demand for solar power installation and capital investment in solar farm projects between 2017 and 2020. As part of the 13th Five-Year Plan, the National Energy Administrative (NEA) further increased the targeted solar power capacity to 105GW by the end of 2020. The level of solar power use in the PRC is significantly lower than that of the other developed solar power markets, which reflects unlimited potential for the development of solar power markets in the PRC, thus creating huge room for the future growth of Xinyi Energy.

    The PRC Government has implemented a series of favorable policies to support and encourage the development of the renewable energy industry since 2009, such as favorable tax rates, protective purchases in full amount, grid connection and top priority in grid connection, protection of utilization hours, subsidized Feed-in-Tariff and raising the target of solar power capacity, in order to facilitate the sustainable development of the solar power industry. On 31 May 2018, the NDRC, Ministry of Finance, and the NEA jointly promulgated the Notice on Matters Concerning Photovoltaic Energy in 2018, which mainly covered the development and construction of new ground-mounted solar farm projects. Xinyi Energy is primarily focused on the solar farm operation and management business and will not be involved in the development and construction of solar farm projects. Therefore, the policy would have no impact on the solar farm projects currently owned and managed by Xinyi Energy and the solar farm projects in the Target Portfolio, nor it will change the tariff adjustment received by existing solar farm projects. All solar farm projects of Xinyi Solar in the pipeline or which Xinyi Energy may acquire, are being constructed and completed under the national quota system in the PRC and will be entitled to the Feed-in-Tariff at the applicable rates upon connection to the grid for a period of 20 years. Thus this new policy will not affect Xinyi Energy, but serves to highlight its competitive edge and capabilities as a solar farm operator.

    Professional management team and all-round development strategy support Xinyi Energy's future business growth
    As a member of the Xinyi Group, Xinyi Energy's professional management team has abundant experience in management and operation of listed companies, as well as experience and expertise in the solar power industry in the PRC, with the knowledge of the solar power regulatory regime in the PRC and the latest development of the solar power industry, which enables Xinyi Energy to take advantage of market opportunities, manage and assess risks and formulate business development strategies. In addition, Xinyi Energy has strived to enhance operational efficiency and reduce operational and maintenance costs, so as to increase overall distributions to shareholders and maximize shareholder value.

    Future Strategies
    Looking ahead, Xinyi Energy will endeavor to maintain and strengthen its position as a leading non-state owned solar farm owner and operator in the PRC. It intends to grow its business and distributions by way of acquisition of long-term contracted solar farm projects. In order to have higher returns and to lower the risk profile, Xinyi Energy will acquire solar farms from independent third parties, focusing on acquiring large-scale solar farm assets that are relatively newly constructed under the national quota system in the PRC or with long-term contracted power purchase agreements entered with creditworthy counterparties, using proven technology and with predictable operating performance, low operating risk, and low maintenance cost. Regarding acquisitions, Xinyi Energy will first use external debt financing to gain higher returns and reduce related risks. Xinyi Energy also plans to further diversify its project portfolio. Leveraging its business track record, expertise and market experience to enter other provinces in the PRC and consolidate its leading presence in the industry. While expanding its business map, it will focus on areas with healthy demand and supply conditions and which face no over-capacity or curtailment issues. At the same time, to expand its solar farm business, Xinyi Energy will also monitor mature and emerging markets overseas with favorable investment attributes when such opportunities arises. In addition, other renewable technologies and the capability of operating renewable energy generation assets will be considered when evaluating acquisition and partnerships opportunities aimed at facilitating its project mix to achieve diverse growth. Xinyi Energy will closely monitor renewable energy trends and develop relevant capabilities, with the hope to bolster its internal capabilities, or enhance its overall competitiveness through establishment of strategic partnerships with different industry players. To ensure that it has sufficient financial resources to tap acquisition opportunities in the future, Xinyi Energy will maintain a prudent capital structure and sound financial practices, seeking for longer-term debt financing and diversify its debt maturity profile. It also intends to maintain a distribution policy that can provide shareholders with dividends which are stable and sustain growing in the long-term.

    Financial Highlights
    For the Year Ended 31 Dec For the Six Months Ended 30 Jun
    2015 2016 2017 CAGR 2017 2018 Change
    HK$'000 HK$'000 HK$'000 % HK$'000 HK$'000 %
    Revenue 313,030 968,291 1,116,044 88.82 585,652 604,549 3.23
    Gross Profit 225,584 719,804 827,798 91.56 446,820 447,689 0.20
    Profit Attributable to Equity Holders of the Company 256,088 659,005 719,639 67.63 391,679 363,651 -7.16
    Adjusted EBITDA 293,456 922,132 1,053,888 89.51 559,946 552,376 -1.35
    Distributable Income 163,708 499,756 594,368 90.54 313,516 314,428 0.29

    Use of Proceeds
    Assuming the Offer Price is HK$2.155 per Offer Share (being the mid-point of the indicative range of the Offer Price) and that the Over-allotment Option is not exercised, net proceeds of HK$3.91 billion are expected to be raised after deducting the underwriting commissions and estimated expenses, and will be used as below:

    Items / Approx. %
    For the payment of the Agreed Purchase Price, of which an upfront payment of 50.0% will be settled upon completion of the Target Acquisition and the remaining balance, being the Outstanding Amount, will be settled on the earlier of (a) the fourth anniversary of the Listing Date and (b) by installments following the receipt of the tariff adjustment receivables relating to the solar farm projects under the Target Portfolio pursuant to the Target Sale and Purchase Agreement: 90.0
    For its working capital and loan refinancing for the purpose of reducing its interest expense: 10.0

    About Xinyi Energy Holdings Limited

    Xinyi Energy is a leading non-State owned solar farm owner and operator in the PRC, owning and operating utility-scale ground-mounted solar farm projects, using proven, reliable and efficient technologies. All of Xinyi Energy's solar farm projects are strategically located in Anhui Province, Tianjin Municipality, Fujian Province, and Hubei Province with low curtailment risk and long asset life, generating stable revenue by selling electricity to local subsidiaries of the State Grid. The aggregate approved capacity of Xinyi Energy's Initial Portfolio is 954 MW (a total of 9 projects). Pursuant to the Target Sale and Purchase Agreement, Xinyi Energy will acquire the utility-scale ground-mounted solar farm projects under the Target Portfolio with an approved capacity of 540 MW upon the Listing (a total of 6 projects). The total approved capacity of Xinyi Energy's solar farm projects will reach 1,494 MW (a total of 15 projects) upon the Listing. Xinyi Energy intends to adopt a high dividend payout policy which declare and distribute interim and final distributions in each year of not less than 90% of the distributable Income, with intent to distribute 100% of the distributable Income in respect of each year.

    Media Enquires
    Strategic Financial Relations Limited
    Iris LEE Tel: (852) 2864 4829 Email: iris.lee@sprg.com.hk
    Katrina LEUNG Tel: (852) 2864 4857 Email: katrina.leung@sprg.com.hk
    Website: www.sprg.com.hk


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    TOKYO, Dec 10, 2018 - (JCN Newswire) - Hitachi Automotive Systems, Ltd. has signed an agreement with Knorr-Bremse AG, the German global market leader for braking systems, to transfer Hitachi Automotive Systems' commercial vehicle steering business to Knorr-Bremse. Specifically, Hitachi Automotive Systems will spin off its commercial vehicle steering business to a new company incorporated for this transaction through an absorption-type company split, and transfer all shares of the new company to Knorr-Bremse Asia Pacific (Holding) Ltd., which is a wholly owned subsidiary of Knorr-Bremse in Hong Kong.

    As well as brakes and suspensions, power steering equipment supports the control of a vehicle's behavior. In the power steering business for commercial vehicles, Hitachi Automotive Systems manufactures and sells lightweight, compact and high-output hydraulic assist integral power steering gears.

    The transfer of Hitachi Automotive Systems' commercial vehicle steering business will allow Hitachi Automotive Systems to focus and strengthen further its core portfolio. Moving forward, in addition to chassis products that improve vehicle driving performance such as passenger vehicle steering, brakes, and suspension, Hitachi Automotive Systems will continue to leverage its strengths in electronics and electrification technologies, and continually enhance its business lineup in electrification products such as electric motors and inverters, as well as advanced driver assistance system & autonomous driving (ADAS/AD) products.

    Since its establishment in 1905, Knorr-Bremse has led the world in the field of braking systems and other safety-critical subsystems for rail and commercial vehicles.

    The transfer of Hitachi Automotive Systems' commercial vehicle steering business has the business develop by utilizing Knorr-Bremse's customer base, technologies and expertise. It will enable Knorr-Bremse to contribute to integrated braking and steering control technologies, and contribute to the company's development of advanced driver assistance system & autonomous driving technologies for the commercial vehicle field and accelerate the company's global business expansion.

    About Hitachi, Ltd.

    Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

    Contact:
    Hitachi Ltd Corporate Communications Tel: +81-3-3258-1111

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    HONG KONG, Dec 10, 2018 - (ACN Newswire) - In January, Charles Li, Chief Executive of the Hong Kong Exchanges and Clearing Limited (HKEx), announced the most important reform of the city's listing system in 25 years. In the end of 2018, we are going to see the glorious achievements of the Hong Kong market. According to the performance report of the first three quarters of 2018, HKEx realized revenue and other income of HKD 12.296 billion with a net profit of HKD 7.484 billion in the first three quarters of 2018, increasing by 27% and 35% compared with last year respectively. HKEx continues to play the role of a global IPO hub and Asia's most active and liquid capital market.

    We have seen unicorn enterprises rushing to the stage of HKEx at a faster speed. Babytree, which has been established for 11 years, is the market leader for the parenting online community. Meituan Dianping, which has been established for 8 years, is the market leader for catering platforms. Xiaomi, which was founded 7 years ago, has earned revenues of more than 100 billionRMB. In this December, Wanka Online, the new economic unicorn which is also the first in the Android ecosystem, will be giving its debut. The intensive listing of mainland emerging economy companies in Hong Kong has attracted a lot of attention in the capital market of Hong Kong in 2018.

    According to its official website, Wanka Online's business is utilizing artificial intelligence and big data capacity to provide mobile advertising service for the clients, technical support for developers, and to push for technical standards for the Mobile Hardcore Alliance and the Quick App Alliance that was formed later. Wanka Online has only taken 4 years to break through the critical point of scale effect, achieving tremendous growth, and has rapidly completed the process of reaching the open market from a start-up unicorn.

    Embracing the long-term revenue harvest

    The Internet is a miracle industry, there is no fastest only faster. In traditional industries, four years is just enough for start-ups to find their niche and be comparatively stable in the industry. For Wanka Online, it has not only established the android platform ecology in four years, but also realized rapid growth and achieved profitability.

    The era of smartphones, led by Apple and Xiaomi of China, has profoundly changed the business logic of the mobile phone industry. It has also become the consensus of the industry to develop non-hardware business, which revenue mainly includes e-commerce, advertising, distribution and games. To achieve growth in the non-hardware business, the first problem that needs to be solved is the decentralization of the Android operating system. Unlike Apple, the Android operating system allows smartphone manufacturers to customize their own operating systems. However, there are differences in the operating systems of various mobile phone brands, leading to problems such as a lack of platform standards and inefficient distribution.

    In 2014, CEO of Wanka Online Gao Dinan keenly captured this opportunity and established the Mobile Hardcore Alliance to promote a standardized platform for distribution and development and a sales and marketing channel, and to raise the efficiency of developers. The alliance also provides users with better contents and improves the user experience. It has not only been a strong push to the mobile Internet revenue growth for mobile phone manufacturers but also realized an all-win situation for mobile phone manufacturers, developers and users.

    Data shows that in 2017, the mobile advertising market scale of domestic smartphone manufacturers increased from RMB 15.4 billion in 2013 to RMB 217.2 billion in 2017, with a compound annual growth rate of 93.7%. Advertising service revenue accounted for 49.1% of the total post-sales revenue, and value-added services such as the publication and distribution of mobile apps and mobile games, sales of online storage, and cloud services accounted for 29.3% of the total post-sales revenue.

    The only survival guide in the Internet circles is speed and Wanka Online understands this principle very well. The company's annual revenue was RMB 15.29 million in 2015, RMB 40.55 million in 2016, RMB 486 million in 2017 and RMB 670 million for the first half of 2018, reflecting a Year-on-Year growth of more than 11 times and a growth rate of 445%

    Once the Internet business model survives the losses in the initial stage, it will start to make profits continuously. BAT and other Internet giants are no exception.

    Expanding "friend zone" and enlarging "business circle"

    The development secret of Wanka Online is: expanding "friend zone" and enlarging "business circle". Gao Dinan, founder of Wanka Online, once said, "what we insist on is bringing new increment of Internet to android phones and providing value-added services on the original basis". In terms of service advertisers, mobile application developers and smartphone manufacturers, Wanka Online has established two "Friend Zones": the Mobile Hardcore Alliance and the Quick App Alliance.

    The Mobile Hardcore Alliance has become one of the most influential platforms in the mobile Internet industry, and has worked with mobile phone manufacturers to establish an ecosystem and promoted platform standards. Domestic smartphone giants such as Huawei, OPPO and vivo are also the members of the alliance. According to the prospectus, Mobile Hardcore Alliance manufacturers produced 62.1%, 275.8 million units, of the domestic shipments in 2017 and are expected to reach 322 million units in 2022.

    At the same time, Wanka Online has also promoted the establishment of Quick App Alliance which is formed by Huawei, Xiaomi, OPPO, vivo, Lenovo and others to provided standardized tools via a unified platform. Since Quick App is a new product form, standardization is the basic condition for its growth. Mobile phone manufacturers should have a long-term strategic plan to implement Quick App on the eve of 5G. Quick App alliance accounted for 75.8% of China's smartphone market in 2017 and is expected to reach 86.2% in 2022.

    These dynamic "friend zones" has boosted up the "business circles", Wanka Online has achieved cooperation with Internet giants, including Tencent, Baidu, JD, Netease and Toutiao. The rapid growth of the company's revenue is the result of the continuous expansion and deepening of the business circle.

    Wanka Online to focus on A.I. in light of expanding Android operations in the 5G era

    On November 22, Xiaomi President Lin Bin sent out the first Weibo post under the 5G network. According to open data, the first half of 2019 will embrace a burst of 5G Android phones. Huawei, Samsung, vivo, Oppo, Lenovo will focus on the release of more 5G phones. As for the IOS camp, the 5G iPhone will not be released until 2020.

    Supported by new technologies, android will speed up the compression of the IOS market and expand its own territory. According to IDC data, the market share of Apple's iPhone is decreasing rapidly, from 19% of last year to 13.2% in the third quarter of this year. Judging from the long-term trend, Huawei of the Android camp has sold more than Apple for two consecutive quarters, with an increasing rate higher than that of Apple's for three years.

    IDC expects Android phones to account for about 85% of global sales this year. Android smartphones will dominate China in five years, with sales expected to grow at a compound annual rate of 2.4 % to 1.41 billion by 2022. This is expected for future expansion of Wanka Online, which reaches more than 90% of Android phone users.

    In the era of 5G, further integration of online and offline is needed and we need to better understand users. Artificial Intelligence is the present, as well as the future. Wanka Online has its own-developed artificial intelligence platform DAPG. According to the prospectus, 30% of the proceeds raised will be invested in the research and development of artificial intelligence. Following the pace of 5G, the company will continue to nurture and build android mobile Internet system and create more beneficial value for all parties involved in the ecology.


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Memorial photo with EVN trainees
    Training interim presentation by EVN trainees
    MHPS Takasago Works
    - Support for Human Resource Development Based on Vietnam's Plans for Expansion of Thermal Power Plants -

    - Seven trainees to study at the Takasago Works from October 15 to November 6
    - Program comprises MHPS Quality Management System(QMS)

    YOKOHAMA, Japan, Dec 10, 2018 - (JCN Newswire) - Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has received trainees from Vietnam's state-owned power utility Vietnam Electricity (EVN). A total of seven trainees received practical training in MHPS' Quality Management System (QMS) and other operations at the Takasago Works in Hyogo Prefecture from October 15 to November 6, 2018. Vietnam is planning to expand its thermal power generating capacity, and this program will help support the country's development by training the necessary personnel.

    With demand for electricity in Vietnam increasing, this training program was developed based on the EVN's desire to enhance its comprehensive QMS in power plant development overall, including new plant investment plans, construction, and operations and maintenance (O&M). The trainees studied MHPS' QMS in depth in order to gain technical expertise.

    Under Vietnam's Revised Power Development Master Plan VII (PDP 7) announced by the government in 2016, the country plans to build new thermal power plants with a combined generating capacity of approximately 55,000 MW between 2016 and 2030. Further, with the current increase in environmental awareness, there is a growing need for facilities that contribute to curbing CO2 emissions, such as high-efficiency coal-fired power plants, and gas turbine combined cycle (GTCC) installations. At the same time, demand is increasing for flue-gas desulfurization and other air quality control systems (AQCS) for installation primarily in existing coal-fired power plants.

    Going forward, MHPS will respond with thorough precision to the robust demand for power generation in Vietnam, and by focusing on close cooperation with EVN and other companies, including supporting the development of personnel needed for planning, construction, operation and maintenance of thermal power plants through trainee programs such as this, contribute to the stabilization of the country's power supply.

    About Mitsubishi Hitachi Power Systems, Ltd.

    Mitsubishi Hitachi Power Systems, Ltd. (MHPS) was formed on February 1 2014, integrating the thermal power generation systems businesses of Mitsubishi Heavy Industries, Ltd. (MHI) and Hitachi, Ltd. in a quest to further enhance their social response capabilities in all respects. These include the technological strength to create new products of outstanding quality and reliability, the comprehensive strength in engineering to oversee projects in regions across the globe, and finely honed sales and after-sale servicing capabilities. MHPS aims to come out a winner in global competition and achieve a solid position as a world leader in thermal power generation systems and environmental technologies. For more information, please visit www.mhps.com.

    Contact:
    Corporate Communication Department Mitsubishi Heavy Industries, Ltd. Email: mediacontact_global@mhi.co.jp Tel: +81-(0)3-6716-2168 Fax: +81-(0)3-6716-5860

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    GR Supra Super GT Concept
    Booth Concept
    TOKYO, Dec 10, 2018 - (JCN Newswire) - TOYOTA GAZOO Racing will exhibit at the Tokyo Auto Salon 2019, a customized car event to be held at Makuhari Messe in Chiba Prefecture, Japan for three days from January 11 to 13(1), 2019.

    TOYOTA GAZOO Racing aims through its motorsports activities to develop its cars and people with the goal of "making ever-better cars." It participates in top category races including the FIA World Rally Championship (WRC) and FIA World Endurance Championship (WEC), as well as national rallies and races. The technologies and know-how it acquires through these activities are subsequently fed back into the development of new production vehicles.

    TOYOTA GAZOO Racing selected "from past to future" as the theme for Tokyo Auto Salon 2019 and will feature our challenges.

    Exhibition vehicles include the Yaris WRC, the TS050 Hybrid, and the 2019 Lexus LC Nurburgring-spec, all of which will compete in top-level races next year. A Supra vehicle that participated in past domestic races and the GR Supra Super GT Concept will also go on display.

    (1) January 11: Industry and Press Day; January 12 and 13: Public Days

    Further information regarding exhibition vehicles and the booth is available at the official TOYOTA GAZOO Racing: https://toyotagazooracing.com/jp/eventexhibition/tokyoautosalon/

    About Toyota Motor Corporation

    Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

    Contact:
    Public Affairs Division Global Communications Department Toyota Motor Corporation Tel: +81-3-3817-9926

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Advanced-class Peaking Power Seamlessly Integrates with Renewables using Artificial Intelligence

    TOKYO, Dec 10, 2018 - (JCN Newswire) - Mitsubishi Hitachi Power Systems (MHPS) has announced that a leading Midwest US utility has ordered the new super-intelligent M501GAC Enhanced Response gas turbine. The SmartER GAC is an integration of MHPS's proven and reliable G-Series turbine technology and MHPS-TOMONI world-class analytics and artificial intelligence. This combination provides clients an incredibly flexible peaking power solution to integrate with intermittent renewable energy and create sustained, reliable and cost-effective power.

    Whether through public policy edicts, consumer demand, or increased conscientious business decision-making, demand for power is increasingly calling for more efficient, cleaner energy. While advances in renewable generation technology continue, utilities and grid operators are faced with the challenge of increased intermittency caused by changes in wind conditions and sunlight.

    MHPS's Enhanced Response technology uses AI and data analytics to enable fast start, ramp rate and turn down features that make the SmartER M501GAC the new flexibility standard to complement intermittent renewables. Ten-minute fast start, 50 MW/ min ramp rate, 9 PPM NOx emissions, 275 MW output and the incredible efficiency of an advanced class gas turbine are just a few of the product features enabled by the synergy of digital solutions and proven GT frame design.

    Independent Service Operators (ISO) in the West and Midwest are seeing an explosive growth of variable renewable resources such as wind and solar while seeking ways of ensuring grid stability The SmartER GAC, will be able to fully integrate distributed resources into our system planning and operations and allow utilities to maximize the use of variable generation.

    "Renewables on their own aren't capable of providing the sustained, reliable power the grid needs." said Paul Browning, president & CEO of MHPS Americas. "Our new SmartER GAC turbine technology blends the reliability that comes from over 5 million hours of operating experience, the affordability of a large block gas turbine, and the flexibility enabled by new artificial intelligence technology, to pave the way for higher levels of renewables adoption. We are delivering a change in power."

    About Mitsubishi Hitachi Power Systems, Ltd.

    Mitsubishi Hitachi Power Systems, Ltd. (MHPS) was formed on February 1 2014, integrating the thermal power generation systems businesses of Mitsubishi Heavy Industries, Ltd. (MHI) and Hitachi, Ltd. in a quest to further enhance their social response capabilities in all respects. These include the technological strength to create new products of outstanding quality and reliability, the comprehensive strength in engineering to oversee projects in regions across the globe, and finely honed sales and after-sale servicing capabilities. MHPS aims to come out a winner in global competition and achieve a solid position as a world leader in thermal power generation systems and environmental technologies. For more information, please visit www.mhps.com.

    Contact:
    Corporate Communication Department Mitsubishi Heavy Industries, Ltd. Email: mediacontact_global@mhi.co.jp Tel: +81-(0)3-6716-2168 Fax: +81-(0)3-6716-5860

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Prof Larry V. HEDGES, the Yidan Prize for Education Research Laureate, Mrs Carrie Lam, GBM, GBS, the Chief Executive of HKSAR government, Dr Charles CHEN Yidan, Founder of the Yidan Prize and Prof Anant AGARWAL, the Yidan Prize for Education Development Laureate, attended the Yidan Prize Award Presentation Ceremony 2018.
    HONG KONG, Dec 10, 2018 - (ACN Newswire) - The world's leading educational award, Yidan Prize, announced earlier this year that the 2018 Yidan Prize for Education Research and Yidan Prize for Education Development would be awarded to American professor Larry HEDGES and Indian professor Anant Agarwal respectively. Today, the two laureates traveled to Hong Kong, and under the witness of 350 guests, received the awards from Mrs Carrie LAM CHENG Yuet-ngor, the Chief Executive of the Hong Kong Special Administrative Region. The two laureates each received a gold medal and an award of HK$30 million (approximate US$3.87 million) in recognition and support of their contributions to education reform.

    Mrs Lam noted in her remarks that, "Yidan Prize is connecting a world of educational innovators, researchers and policymakers. My congratulations to Professor Hedges and Professor Agarwal, this year's Yidan Prize Laureates. The fact that they were chosen from among nearly 1,000 nominations spanning more than 90 countries is remarkable testament to their sterling achievement as well as the global reach and reputation of the Yidan Prize."

    The Yidan Prize for Education Development Laureate, Professor Agarwal, is the founder and CEO of edX. He originally taught electrical engineering and computer science at the Massachusetts Institute of Technology (MIT), and in fall 2012, he received US$30 million each from Harvard University and MIT and established edX, a large-scale and not-for-profit online learning platform to "accelerate your future."

    Professor Agarwal is committed to providing free quality education to anyone, irrespective of their educational background in anywhere. Over 130 world-class institutes of higher education have participated in edX, including Imperial College London and Oxford University in the United Kingdom; Peking University and Tsinghua University in China; and The University of Hong Kong, The Hong Kong University of Science and Technology, and The Hong Kong Polytechnic University in Hong Kong.

    Since its founding, edX has already provided over 2,000 higher education courses from many world's leading institutions to more than 18 million people around the world, and the number of offerings continued to expand.

    edX strives to make successful connections between education and employment. Students who have completed their courses can obtain a certificate from edX, and many of these certificate holders have gained interview opportunities from multinational companies. Also, many corporate have leveraged the edX platform to enhance the skills of their employees. All in all, edX has ushered education into a new chapter.

    Professor Agarwal said: "We're really honored and fortunate to have won the Yidan Prize. We want to use the prize money to launch radical new efforts that would enable much younger learners, both at the late high school and college level, to get radically increased access and quality for their learning. edX today has 18 million students from every single country in the world, and I would love to see in the fullness of time, billions of students routinely accessing a quality education like this and education being affordable for everybody everywhere with a will to learn."

    Professor Hedges, the Yidan Prize for Education Research Laureate, is the chair of the Department of Statistics at Northwestern University in Chicago. He is renowned for his development of the statistical methods for meta-analysis (SMMS), which can be applied in social science, medical science, and biological science. The SMMS is an innovative method to integrate transdisciplinary research results, and it allows policymakers, educators, and the general public to see the evidence for "what works" in the field of education, and makes it possible to take a scientific approach to improving education for future generations.

    Professor Hedges said: "I am honored to be the Yidan Prize laureate and I'm going to use whatever I gain from this prize to try and increase the profile of evidence in education for the purposes of improving education. It's important that we avoid any mistakes that can be used to discredit education, to discredit evidence in education science, because there are people who would prefer to make policy decisions on the basis of preferences and superstitions and prejudices rather than on the basis of evidence."

    Dr Charles CHEN Yidan, the founder of Yidan Prize, offered his heartfelt congratulations to the two laureates. "I want to congratulate both laureates for being recognized by the independent judging committee, and for being awarded the Yidan Prize. Your theory and projects have transformed many thousands of lives. I'm grateful for your dedication to education and your contributions to society through education. In the future, I look forward to seeing more innovations in all aspects of education systems with wider participation from various stakeholders."

    The Yidan Prize - world's largest award in education - has entered its second year, and it saw around 1,000 nominations from over 92 countries. The independent Judging Committee, led by former UNESCO Director-General Dr Koichiro MATSUURA, had spent half a year to review and select the laureates. Mr Andreas SCHLEICHER, Director for the Directorate of Education and Skills at OECD, is the head of the Yidan Prize for Education Research Judging Panel, whereas the Yidan Prize for Education Development Judging Panel is headed by Ms Dorothy K. GORDON, the Chair of UNESCO's Information for All Programme.

    Comparing with the inaugural year, this year saw a 70 percent increase in the number of nominations, and they came from 151 countries and regions. These numbers are a solid testimonial to Yidan Prize's worldwide recognition.

    The Yidan Prize Summit will be held on 10 December 2018. Apart from the two laureates, the speaker list includes many heavyweight international leaders, including HRH Princess Laurentien of the Netherlands, the opening keynote speaker; United Nations Special Envoy on Global Education and former British Prime Minister Rt Hon Gordon BROWN, the closing keynote speaker; Mrs Graca MACHEL, the wife of former South African President Nelson MANDELA; Minister Naledi PANDOR, the South African Minister of Higher Education; Ms Yaneth GIHA, Former Minister of Education, Colombia; Mr Ronnie C. Chan, Co-Chair of Asia Society; Mr Ruben VARDANYAN, a Russian philanthropist; and Mr Terry VIRTS, a former NASA astronaut. They will be joined by 350 academics, researchers, policymakers, business leaders, philanthropists, and leading educators. Details can be found at summit.yidanprize.org.

    We now accept nominations for the third Yidan Prize, and the deadline is March 2019.

    About Yidan Prize

    Established in 2016 by Dr Charles CHEN Yidan, a co-founder of Tencent, Yidan Prize has a mission to create a better world through education. Yidan Prize consists of two awards: Yidan Prize for Education Research and Yidan Prize for Education Development. Yidan Prize Laureate receives a gold medal and a total sum of HK$30 million (around US$3.9 million). Half of this amount is in the form of a cash prize to the laureate, while the other half is a project fund. To ensure transparency and sustainability, the prize is managed by Yidan Prize Foundation and governed by an independent trust with an endowment of HK$2.5 billion (around US$323 million). Through a series of initiatives, the prize serves to establish a platform that allows the global community to engage in conversation around education and to play a role in education philanthropy.

    Media Enquires:
    Yidan Prize Foundation
    Brian Yeung
    Tel: +852 6255 3845
    Email: brian@yidanprize.org

    EM Communications
    Maria Levitov
    Tel: +44 755 309 2429
    Email: levitov@em-comms.com

    Tom Kiehn
    Tel: +1 646 384 3361
    Email: kiehn@em-comms.com

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    The fourth edition of the HKTDC Hong Kong International Franchising Show was held last week (5-7 Dec). It featured more than 130 exhibitors from 13 countries and regions showcasing franchising opportunities across different sectors.
    Opportunities and Solutions Showcased at HKTDC Hong Kong International Franchising Show

    HONG KONG, Dec 10, 2018 - (ACN Newswire) - The fourth HKTDC Hong Kong International Franchising Show and the second edition of the HKTDC SmartBiz Expo, both organised by the Hong Kong Trade Development Council (HKTDC), were held last week (5-7 Dec). This year's Franchising Show featured more than 130 exhibitors from 13 countries and regions. In addition to showcasing franchising opportunities across different industries, a series of seminars provided practical information to entrepreneurs interested in becoming franchisors or franchisees to help them succeed. A seminar titled "How Technology is Leveraging Franchise Management?" featured industry experts to share how franchised convenience stores, restaurants and vending machines can leverage technology to enhance their management and improve profitability.

    Product Variety is Key for Small Convenience Stores

    Stories shared by seminar speakers showed how technology can help Hong Kong retailers address one of their biggest challenges - rental cost. Dallas Cheung, Franchise Director, 7-Eleven Hong Kong & Macau, said research has shown that 85% of people in Hong Kong shop at 7-Eleven, which has 959 stores across the city, including 373 are franchisees. This massive group of consumers consists of a wide variety of consumer segments, including retirees, working men and women, and students. Stores in different locations have different target customers.

    Mr Cheung shared that the average number of consumers that each 7-Eleven store in Hong Kong services is more than 7,000, "yet the average size of each shop is only about 500 square feet, which makes selecting the right products very important." He said his company handles more than one million customers in Hong Kong every day, and for the 900-plus shops to serve such an enormous number of consumers, the use of technology to manage inventory is crucial.

    All the shops transmit their sales data to a data centre, which then compiles the data for various departments to analyse and help the shops formulate their product strategies, Mr Cheung said. This means that even when the shops are limited in size, they can still accurately match their products with the needs of consumers in different districts and avoid wasting precious space stocking slow-moving items. This will help to improve sales and profitability.

    Restaurant Cash Registers Hold Big Business Opportunities

    Franchising is a common business model in the food and beverage (F&B) industry, yet operating a restaurant can be a daunting task, and restaurateurs do not always have the time to review their sales data and adjust their strategies. Michael Yung, co-founder of Everyware Limited, said that information technology can be used to resolve this pain point and lead the future development of the F&B and retail industries. He said that, for the F&B industry, the "cash register" is one of the most important tools for conducting business. "Today's cash registers are no longer limited to calculating transactions. In fact, they can help a company achieve higher returns," Mr Yung said. "Take an F&B group with multiple franchisees as an example. It used to be difficult to get the latest status of each franchisee, such as turnover, customer traffic and product sales, but with today's cloud computing, restaurateurs can easily keep track of the data for all franchisees in real time and monitor each restaurant remotely."

    In addition to helping to assess the health of a business, smart technologies can also be used to enhance the consumer experience. Yung anticipates that self-ordering will become a bigger trend in the F&B industry. At present, many restaurants have tablet computers at tables for diners to self-order, while some have set up self-ordering and self-payment kiosks. Yet these business models invariably involve hardware investments. Yung expects that in the future, diners will use chatbots on their phones to place orders and settle payments by scanning the bills with their phones. Throughout this process, from the placing of orders to the settling of bills, all data will be recorded in the cloud to provide restaurateurs with real-time information. Yung described this revolutionary model as the "last mile" for restaurant operations.

    Smart Vending Machines Offer New Opportunities for Operators

    Sophisticated technologies are also behind the new generation of smart vending machines. Kong Yiu-chi, Product Evangelist of Gritus Technology Limited, pointed out that vending machines are no longer the simple soda machines of the past. His company's smart vending consoles can support different products, such as snacks and beverages, lifestyle products, toys, and skincare and beauty products. More important than offering product diversity, these smart vending consoles are connecting businesses and consumers digitally. The vending consoles can become mobile billboards that show advertisements and generate additional income for console franchisees. In addition, brands can access data through the cloud to quickly update product pricing and promotions and optimise marketing strategies. They can also analyse the data collected to formulate targeted promotional campaigns.

    Kong added that cloud computing can help businesses to get instant market feedback. "Cloud technology makes it easy to monitor the status, inventory and turnover of smart vending consoles. Operations teams can monitor the consoles in real-time and arrange restocking or after-sales services accordingly." Mr Kong explained that these new technologies will help brands meet customers' needs by providing personalised services and more engaging experiences. This approach is set to become a new direction in the marketing strategy for vending machine operators.

    The fourth Hong Kong International Franchising Show featured four key zones, including the Hong Kong Food and Beverage zone, the Hong Kong Non-Food and Beverage zone, the Chinese Mainland zone and the International zone, displaying franchising opportunities across different sectors. The second edition of the SmartBiz Expo, which was held concurrently with the Franchising Show, attracted more than 520 exhibitors from 40 countries and regions to offer a variety of business solutions and innovative business ideas.

    Fair Websites
    SmartBiz Expo: www.hktdc.com/smartbizexpo
    Hong Kong International Franchising Show: www.hktdc.com/hkifs
    Photo download: https://bit.ly/2QfvNjz

    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 50 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 more than 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 business insights and 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.

    Contact:
    Billy Ng, Tel: +852 2584 4393, Email: billy.km.ng@hktdc.org

    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

    0 0

    HONG KONG, Dec 10, 2018 - (ACN Newswire) - Emperor International Holdings Limited ("Emperor International" or the "Group") (Stock code: 163) today entered into a provisional agreement regarding the disposal of Inn Hotel Hong Kong (the "Hotel"), one of its existing hotels, at a cash consideration of HK$1,100 million.

    Located in Kowloon, the Hotel is a 30-storey hotel offering 199 guest rooms, with a gross floor area of approximately 48,600 sq.ft. As at 30 September 2018, its carrying value on the balance sheet of the Hotel amounted to approximately HK$421 million. From this disposal, the Group expects to record an unaudited gain of approximately HK$746 million and net proceeds of approximately HK$1,094 million, which will be used as general working capital and for future business development. Such disposal is expected to be completed on or before 10 June 2019.

    Mr. Donald Cheung, Executive Director of Emperor International, said, "It is a good opportunity for the Group to realize the Hotel at a premium. The relevant net proceeds will enhance the financial position of the Group and strengthen the capital reserve for backing up investment opportunities in the future."

    In addition to the disposal of the Hotel, Emperor International has recently successfully disposed of a 2-storey retail complex (with the right of use of a wall-mount advertising signage on the external wall) located on Nos. 4-8, Canton Road, Tsim Sha Tsui, Kowloon with an aggregate saleable area of 2,776 sq. ft. at HK$1.8 billion. The entire complex was purchased in phases from 2007 to 2010 with a total purchase cost of HK$1.16 billion. The disposal has once again demonstrated the Group's sound and effective strategies on investment property.

    About Emperor International Holdings Limited Emperor International is an investment holding company, which is principally engaged in property investments, property development and hospitality with property portfolio of over 5 million square feet in the Greater China and overseas. Under its tri-engine business model, Emperor International owns many investment properties in prime locations that generate stable recurrent income; runs many property development projects for earning visibility; and develops hospitality services with strong recurrent cash flow. With its management execution strengths and market insight, Emperor International aims to be a key property player in Greater China. Emperor International has become one of the constituent stocks Hang Seng Corporate Sustainability Benchmark Index since September 2018. It is also an eligible security for Southbound trading under Shenzhen-Hong Kong Stock Connect programme. For more information, please visit its website: www.EmperorInt.com.

    Investor/Press Enquiry
    Ms. Anna Luk
    Group IR Director
    Tel: +852 2835 6783
    Email: annaluk@emperorgroup.com

    Ms. Janice Au
    Group IR Manager
    Tel: +852 2835 6799
    Email: janiceau@emperorgroup.com


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

    0 0

    HONG KONG, Dec 10, 2018 - (ACN Newswire) - Security Token consultancy service provider GoSecurity has today announced the planned integration of a seamless KYC and identity verification procedure for onboarding new customers with Blockpass.

    GoSecurity is a white-label technical platform for the tokenization of securities, and aims to offer a highly scalable solution for launching security tokens and managing campaigns. Through top of the line KYC, AML and accreditation procedures, GoSecurity provides completely compliant end-to-end services. That's where Blockpass comes in, with seamless, one click customer verification.

    Blockpass is a digital identity application and service which brings control back to the user. Blockpass provides a streamlined and cost-effective user onboarding process for regulated industries and any kind of online service. From the Blockpass Application, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services or token purchases.

    By integrating Blockpass' seamless KYC verification process into their proprietary platform, GoSecurity will be able to offer premium, simple and compliant user onboarding to customers.

    CEO of GoSecurity, Claus Skaaning said: "To fulfill the vision of more efficient and less expensive fundraising in the future by utilizing the blockchain to represent digital securities, we have decided to integrate the KYC functionalities of Blockpass into our solution. We believe that Blockpass offers a best-of-class solution in this field such that our clients can enjoy a fully compliant verification of their investors."

    CEO of Blockpass, Adam Vaziri said: "Security Tokens are at the forefront of discussion in the cryptocurrency and blockchain community at the moment, and it's fantastic to be able to partner with an organization that has the same passion for seamless compliance that we do. By integrating Blockpass' KYC Connect Solution into the GoSecurity Security Token Platform, we are able to be at the cutting edge of everything this technology has to offer."

    Blockpass has announced a number of key collaborations recently, most notably with Edinburgh Napier University for the creation of the pioneering new blockchain research laboratory, the Blockpass Identity Lab. With five fully funded Studentships and led by Professor Bill Buchanan, the Blockpass Identity Lab will focus on the creation of world-leading knowledge and innovation around citizen-focused systems which enshrine the right to privacy.

    About Blockpass IDN

    The goal of Blockpass IDN (http://www.blockpass.org/) is global realization of identity for the Internet of Everything. Through the use of blockchain technology and smart contracts, Blockpass is a production ready Regtech platform offering shared regulatory and compliance services for humans, businesses, objects and devices. As this identity system supports verification of humans (KYC), objects (KYO) and connected devices (KYD), it will enable the development of new applications that rely on a trusted connection between human, corporate, and device identities. Registered in Hong Kong, Blockpass IDN is a joint venture of Infinity Blockchain Labs and Chain of Things. Blockpass IDN licenses its technology from the non-profit Blockpass Foundation, registered in the Isle of Man.

    For more information and updates, please visit and sign up to the following:
    Promotional video: https://youtu.be/SvO2cw3e-SI
    Website: http://www.blockpass.org
    Medium: https://medium.com/@blockpass
    Twitter: https://twitter.com/BlockpassOrg
    Facebook: https://www.facebook.com/blockpassorg/
    Telegram: https://t.me/blockpass

    Contact: Caitlin Betts, +852 9733 4935, press@blockpass.org

    About GoSecurity

    GoSecurity (http://www.gosecurity.io) offers a white label software solution for conducting security token offerings (STOs) and has a primary focus on Europe and the Nordics. As well as providing software solutions, GoSecurity also provides knowledge and experience about the legal aspects of digital securities under different European jurisdictions. GoSecurity partners with some of the best legal advisors across Europe to ensure fully compliant fundraising process. GoSecurity is organizing the top event in the Nordics focused on tokenized securities, the Fintech Disruption Summit (http://www.fintechdisrupt.dk/en/home/), targeting the financial industry and presenting a top line of speakers from central banks, commercial banks, legal advisors, national FCAs, security token experts, etc.

    For more information and updates, please visit and sign up to the following:
    Website: http://www.gosecurity.io and http://www.fintechdisrupt.dk/en/home
    Telegram: https://t.me/joinchat/HrqGwxGjmpvct44R_fu4Ow
    Medium: http://medium.com/gosecurity
    LinkedIn: https://www.linkedin.com/company/gosecurity/
    Facebook: https://www.facebook.com/gosecuriti/

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

    0 0

    CLEVELAND, Ohio, Dec 11, 2018 - (ACN Newswire) - The Lubrizol Corporation announces that its Engineered Polymers business has created a strategic alliance with Vidalia Denim, a division of Vidalia Mills Co., to incorporate its revolutionary X4zol(TM)-J elastomeric fiber in the production of Vidalia's stretch denim fabrics, maximizing the performance and eco-friendly benefits sought by leading brands and conscientious consumers alike.

    Lubrizol's X4zol-J thermoplastic polyurethane (TPU) fiber is created using a proprietary solvent-free reactive extrusion process that is more sustainable and produces a finer and stronger elastomeric fiber than traditional stretch fibers such as spandex. This results in unique 360-degree smooth stretch and breathability for superior apparel comfort and fit.

    Rob Richardson, global business director for Performance Apparel solutions at Lubrizol, underscores the benefits of the relationship with Vidalia, stating, "We at Lubrizol are truly excited about teaming up with Vidalia to incorporate our X4zol-J technology into their denim fabrics. While X4zol-J has already been adopted by many strategic global denim brands, we see this as an essential next step in helping advance the apparel industry's sustainability agenda."

    Richardson continues, "Our collaboration with Vidalia will enable brands to work locally in North America to deliver high performance denim fabrics that consumers will love, with even greater sustainability benefits. This alone takes miles and months out of the supply chain. Plus, the powerful combination of X4zol-J's favorable material and recyclability profile, along with Vidalia's sustainable manufacturing processes, will help brands achieve lower scores using Higg Index tools available through the Sustainable Apparel Coalition."

    Dan Feibus, CEO of Vidalia Mills Co. agrees, adding, "The production of stretch fabrics holds such an important place in the denim industry today. Vidalia's decision to work with Lubrizol as a preferred supplier of stretch fibers furthers our mission to build the most efficient and environmentally friendly denim mill in North America.

    Feibus elaborates, "Lubrizol provides us with an innovative state-of-the-art solution for a sustainably-produced, high-performance stretch fiber, and represents a key element in the evolution of great denim products. Lubrizol is a global leader whose commitment to constant innovation and sustainable manufacturing are a perfect fit for Vidalia, and we are extremely excited to be working with Lubrizol on this project."

    Vidalia Denim will also use e3 sustainable cotton exclusively in its operations, the first such operation in the world. Its cotton will be sourced from across the US farm belt from farmers enrolled in the e3 sustainable cotton program. Vidalia will offer its customers complete transparency of leading grower sustainability practices.

    The iconic denim brand, Wrangler, is currently in discussion with Vidalia Denim about the development of fabrics for their 2019 product collection. Roian Atwood, director of sustainability for Wrangler, notes, "This mill is pushing the standards for sustainable denim fabric in North America. At Wrangler, we are excited about the opportunity to work with Dan and his team and the e3 cotton growers committed to sustainable agriculture practices to produce good-looking denim that utilizes innovative manufacturing methods."

    To learn more about Lubrizol's innovative elastomeric fiber, X4zol-J, visit www.x4jfiber.com or email x4j@Lubrizol.com.

    About Lubrizol Engineered Polymers

    Lubrizol Engineered Polymers offers one of the broadest portfolios of engineered polymers available today including resins that are bio-based*, recyclable**, light stable, flame retardant, adhesive, chemically resistant, optically clear and fast cycling. Our technology crosses many industries and applications, including surface protection, power and fluid systems, sports and recreation, wearable devices, electronics and automotive. For more information, visit www.lubrizol.com/engineeredpolymers or contact engineeredpolymers@lubrizol.com.

    About The Lubrizol Corporation

    The Lubrizol Corporation, a Berkshire Hathaway company, is a market-driven global company that combines complex, specialty chemicals to optimize the quality, performance and value of customers' products while reducing their environmental impact. It is a leader at combining market insights with chemistry and application capabilities to deliver valuable solutions to customers in the global transportation, industrial and consumer markets. Lubrizol improves lives by acting as an essential partner in our customers' success, delivering efficiency, reliability or wellness to their end users. Technologies include lubricant additives for engine oils, driveline and other transportation-related fluids, industrial lubricants, as well as additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for home care, personal care and skin care products and specialty materials encompassing polymer and coatings technologies, along with polymer-based pharmaceutical and medical device solutions.

    With headquarters in Wickliffe, Ohio, Lubrizol owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 8,700 employees worldwide. Revenues for 2017 were $6.3 billion. For more information, visit Lubrizol.com.

    *Bio-based content as certified in accordance with ASTM D-6866.
    **Recyclability is based on access to a readily available standard recycling program that supports such materials. Products may not be available in all areas.

    About Vidalia Denim Mills

    Housed at a 900,000 square foot facility in Vidalia, LA, the heart of the cotton-producing region of the Mississippi Delta, Vidalia Denim is designed to set the standard for sustainability, quality, and product range flexibility in North America. Following an immediate ramp up in its operations during the remainder of 2018, Vidalia Denim Mills will begin full commercial operations during the first quarter of 2019. Vidalia Denim will use e3 sustainable cotton exclusively in its operations, the first such operation in the world. Further, Vidalia Denim will source its cotton from across the US farm belt from various farmers enrolled in the e3 sustainable cotton program. Additionally, utilizing next generation indigo dye technology, Vidalia Denim boasts an ability to use less water and manage its power usage more efficiently than any other denim mill in North America. Vidalia Denim plans to employ more than 300 full time workers at the facility. For more information, visit www.vidaliadenim.com

    All marks, except Vidalia Mills and e3, are owned by The Lubrizol Corporation.

    Media Contacts
    Lubrizol Engineered Polymers
    Nick Galioto
    ngalioto@lubrizol.com
    +1 216 447-7382

    Websites
    www.x4jfiber.com
    www.lubrizol.com/engineered-polymers
    www.lubrizol.com

    ###

    This announcement is distributed by West Corporation on behalf of West Corporation clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: Lubrizol via Globenewswire

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

    0 0

    - The Main Points of a Briefing on the Plan -

    TOKYO, Dec 11, 2018 - (JCN Newswire) - Showa Denko (SDK; TSE:4004) has prepared a new medium-term consolidated business plan, "The TOP 2021," for the 2019-2021 period.

    Under the current medium-term consolidated business plan, "Project 2020+," which started in January 2016 and will end in this December, the Showa Denko Group has been striving to strengthen revenue bases of its diverse businesses and expand the Group's "KOSEIHA Businesses" (individualized businesses) that maintain profitability and stability at high levels. The Showa Denko Group has taken various measures to make it possible for the Group to have as many businesses as possible which have top market shares in the global or certain scale of competitive markets, thereby strengthening the Group's resistance to market fluctuations and enhancing its corporate value.

    As a result, the Showa Denko Group passed 3-year cumulative performance targets in far excess, and successfully earned cash which will support the Group's growth in the future. In Petrochemicals, Chemicals, and Inorganics segments, the Group is expected to show financial results in excess of 3-year cumulative targets. In Electronics and Aluminum segments, the Group is expected to improve profitability.

    Under the new medium-term consolidated business plan, "The TOP 2021," the Showa Denko Group will change its course toward long-term business growth, thereby establishing a stable foundation which will continuously support the Group's growth far into the future.

    The TOP 2021

    1. Structure of Showa Denko Group's corporate philosophy

    a) Basic idea
    It is very important for the Showa Denko Group to continue constructive communication with all stakeholders including shareholders, customers, suppliers, local communities, and employees, aiming to satisfy them and enhance the value of the Group in order that the Group continuously grows and is trusted and acclaimed by society. The Showa Denko Group defines this idea as the Group's business philosophy, thereby promoting management to maximize shareholders', customers' and social value.

    Showa Denko Group's business philosophy
    We at the Showa Denko Group will provide products and services that are useful and safe and exceed our customers' expectations, thereby enhancing the value of the Group, giving satisfaction to our shareholders, and contributing to the sound growth of international society as a responsible corporate citizen.

    b) Mission (The meaning of our existence) / Vision (Our goal) / Value (Means to realize Vision)
    The Showa Denko Group defined its Mission, Vision and Value as follows, aiming to realize the Group's business philosophy.

    - Mission (The meaning of our existence): We will satisfy all stakeholders.
    - Vision (Our goal): KOSEIHA Company
    - Value (Means to realize Vision): Maximization of CUSTOMER Experience

    Progress in digitization of data in the world, weight reduction of cars and spread of composite materials, improvement in quality of life (QOL), spread of specialty semiconductors, suggestion of solution beyond sales of goods (X as a Service, [XaaS]), and shift from goods consumption to experience consumption, etc.... The market and social structure which the Group's customers face are changing greatly. Reading the future trends of these changes in environment is necessary for the Group in order to realize its growth. Therefore, we define "Maximization of CUSTOMER Experience" as the Group's shared concept to be called "Value." We will realize growth of our businesses in the seven market domains, namely, "Electronics," "Industrial Equipment," "Transportation," "Life Science & Healthcare," "Lifestyle (Living Environment)," "Construction/Infrastructure," and "Energy."

    At the Show Denko Group, we will completely transform ourselves to wow the world. We will listen more to our customers and further hone our technology. We will create products and services that touch the heart. We will offer solutions that make society better.

    Corporate message: "Act!"
    We act to touch the heart and make society better. To start the Group's new story to wow the world, we made a clapperboard the symbol of our corporate message. Companies of the Group are stages for employees. This symbol also expresses the strong will of each employee to act to touch the heart and make society better.

    2. New medium-term business plan - Basic concept and basic strategy -

    a) Basic concept
    "KOSEIHA Company," which is our Vision, is an aggregate of KOSEIHA Businesses that can maintain high levels of profitability and stability. The Group aims to make half or more if its businesses KOSEIHA Businesses by 2025. Therefore, in The TOP 2021, the Group will change its course toward long-term business growth, thereby establishing a stable foundation which will continuously support the Group's growth far into the future.

    In addition, we must maximize shareholders' value, customers' value and social value in order to accomplish our Mission, "We will satisfy all stakeholders." To accomplish this, the Group must mobilize each employee's power. The Group will provide stages full of pride and dreams for the employees to support their value creation activities, aiming to make itself a promising corporate group.

    b) Basic strategy
    1) Dramatic improvement in existing businesses (Enhance/Grow/Change)
    We redefined the courses of action for each business in accordance with its battlefield and financial goal. There are three categories (portfolios) to which our businesses belong to.

    - Enhance:
    Businesses categorized into this are positioned as businesses that should continuously improve profitability. These businesses compete in mature markets and enhance offering value by evolving business models. We will aim to make petrochemicals, industrial gases and basic chemicals businesses No.1 in specific regions/fields. As for HD media and graphite electrode businesses, we will aim to make these businesses global No.1 by taking advantage of our superiority in technology and quality and deepening customer relations at home and abroad.

    - Grow:
    Businesses categorized into this are positioned as businesses that should realize high growth rate and high profitability simultaneously. We will accelerate growth of these businesses in growing market at home and abroad. We will aim to make our electronic chemicals business global No.1 in terms of market share, growth rate and profitability. We will also aim to make our advanced battery materials, electronics materials and SiC epitaxial wafer for power devices businesses establish leading presence in target markets (i.e., establish bases for rapid growth and high profitability).

    - Change:
    Businesses categorized into this are positioned as businesses that should increase sales while maintaining profitability. We will change business models of them, considering expansion into downstream. We will aim to make our aluminum can and aluminum rolled products businesses expand overseas business activities. We will also aim to make our aluminum specialty components, functional chemicals and ceramics businesses shift to solution oriented businesses, and change them to highvalue adding businesses.

    2) Creation of new businesses (Create)
    To realize continuous growth of the Group, we must create new businesses. Therefore, we will take strategic discontinuous measures such as M&As, in addition to R&D to realize organic growth of the Group. We will invest 150 billion yen in these discontinuous measures in the three-year period of the new business plan, and positively promote M&As and formation of business alliances.

    3) Inter-business cooperation
    The Group has wide-ranging-businesses and materials-related-technologies concerning inorganics, organics, aluminum, etc. The Group also has elemental technologies concerning process design, process analysis, evaluation, etc. We will aim to offer new added-value and solutions in growing markets through combination of these existing businesses and technologies. As the first case of such inter-business cooperation, we will start a project to create new composite materials for cars. This new project will offer solutions such as composite materials to optimize light weight/rigidity, heat radiation/heat storage, electrical insulation and adhesion between different materials, adapted to future changes in automotive industry which will change the industry's requirements for materials.

    4) Strengthening base of strategy
    To conduct business activities globally and realize continuous business growth, the Showa Denko Group must fulfill corporate social responsibility and promote integrated Group management with awareness of future changes in market environment and technologies, in order to contribute to solution of social issues known as Sustainable Development Goals (SDGs). Therefore, the Group will promote various measures which will also be incorporated into the next medium-term consolidated business plan starting in January 2022, including strengthening of R&D functions and marketing functions, and introduction of AI/IoT.

    3. Performance targets

    a) Overall targets
    ----------------------------------------------------------------------
    (Unit: Billion yen)                2019 - 2021            2016 - 2018 
                                     (3-year total)         (3-year total)
    ----------------------------------------------------------------------
    Net sales                              3,400.0                2,436.5
    Operating income                         480.0                  289.8
    Operating margin                         14.1%                  11.9%
    Net income attributable to owners of the parent 
                                             330.0                  164.7
    ROA                                      12.6%                   9.5%
    ROE                                      19.5%                  14.6%
    ----------------------------------------------------------------------
    
    Assumptions: For 2019, 105 yen/US$, 126 yen/EUR, Domestic naphtha price=51,600 yen/KL, Aluminum LME=$2,150/t For 2020 & 2021, 100 yen/US$, 125 yen/EUR, Domestic naphtha price=49,200 yen/KL, Aluminum LME=$2,150/t
    Note 1: ROA is based on operating income, and the simple average of 3 years.
    Note 2: ROE is the simple average of 3 years.

    b) Images of performance targets by business portfolio
    ----------------------------------------------------------------------
    (Unit: Billion yen)   2019 - 2021          2016 - 2018      Increase/
                        (3-year total)       (3-year total)     decrease
    ----------------------------------------------------------------------
    Enhance                   2,260.0              1,502.3          +50%
                                435.0                262.9          +65%
    Grow                        290.0                194.2          +49%
                                 37.0                 19.2          +93%
    Change                      560.0                494.5          +13%
                                 34.0                 28.4          +20%
    ----------------------------------------------------------------------
    
    Note 1: Upper number is net sales. Lower number is operating income.
    Note 2: These numbers do not include Others segment nor Adjustments.

    c) Images of performance targets by segment
    ----------------------------------------------------------------------
    (Unit: Billion yen)                2019 - 2021            2016 - 2018 
                                     (3-year total)         (3-year total)
    ----------------------------------------------------------------------
    Petrochemicals                           890.0                  694.9
                                              60.0                   74.0
    Chemicals                                528.0                  442.3
                                              50.0                   48.3
    Electronics                              379.0                  357.5
                                              53.0                   51.9
    Inorganics                               950.0                  379.3
                                             325.0                  119.2
    Aluminum                                 363.0                  317.0
                                              18.0                   17.1
    ----------------------------------------------------------------------
    
    Note 1: Upper number is net sales. Lower number is operating income
    Note 2: These numbers do not include Others segment nor Adjustments.
    Note 3: The numbers of Electronics segment for 2016-2018 (3-year total) include SiC epitaxial-wafer for power devices.

    4. Financial strategy

    a) Basic strategy
    To realize continuous growth of the Group, we must invest in a timely and appropriate manner. The Group sets clear criteria for capital investment, and carefully select investments. We use free cash flow for investment to improve productivity, and improve business efficiency through use of Cash Conversion Cycle (CCC) as management tool. We will pay dividends in a stable manner, and promote financial policy, keeping increase in return to shareholders in mind, while executing M&As and other discontinuous investment.

    b) Financial targets
    We set specific targets for D/E ratio, total return ratio and total investment, and will strive to achieve them. We will aim to upgrade our rating from current A- positive to A or higher.

    - D/E ratio: About 0.5 times (as of December 31, 2021)
    - Total return ratio: About 30% (in 2021)
    - Total investment: 400 billion yen (2019 - 2021 total)
    Note: Total investment is the total of capital investment (investment in facility improvement = 120 billion yen, investment in organic growth = 130 billion yen), and investment in M&A = 150 billion yen.

    5. R&D strategy

    a) Basic strategy
    We will focus our R&D resources on 10 technical fields corresponding to 7 priority business domains, and accelerate creation of value-adding pipelines for businesses. To achieve financial targets mentioned above, we will increase R&D personnel for about 10% and increase R&D investment for about 30% by investing in progressing themes of development, from the amount invested during the three-year period of Project 2020+.

    b) Establishment of new base for global R&D: "Stage for Fusion"
    We have decided to move our R&D function from Chiba City to Yokohama area (Kanagawa Ward, Yokohama City) to establish a new base as global headquarters of the Group's R&D activities to be named "Stage for Fusion" The new base will function as the hub of the Group's R&D activities which gathers the Group's technologies and knowledge. This will take three major roles: 1) Promotion of search for products/technologies that may become socially important in the future, and R&D to put these products/technologies into practical use; 2) Contribution to realization of Society 5.0 through improvement of electronics-materials related technologies; and 3) Creation of chemicals/materials development method which utilizes AI. The new facility will also have spaces which can accommodate conferences, trainings and workshops. At "Stage for Fusion," many talented persons will gather from all over the world, communicate each other, promote open innovation, and create new value. This facility will come into service in spring 2022.

    6. Others

    a) Capital investment
    The total of our capital investment to improve facilities and promote organic growth during the 3-year period (2019 - 2021) is expected to be 250 billion yen, including investment to increase production capacity for SiC epitaxial-wafer for power devices and other products, to replace old facilities and equipment, and to strengthen measures that-support our business continuity plan (BCP).

    b) AI/IoT strategy
    In March 2018, SDK organized AI Promotion Project, and has been promoting utilization of AI/IoT, aiming mainly to improve the accuracy of estimates in the process of R&D and facility operation. Our Plants, Divisions and Business Development Center cooperatively promoted many projects including those to develop materials by utilizing materials informatics, to map out method to develop functional materials by utilizing computational science and AI, to develop systems to utilize accumulated technical documents, and to develop technologies to sense in real time the occurrence of changes in facility status and abnormal incidents that might be warning signs of troubles. The Project also promoted development projects in cooperation with outside entities. We will invest in facilities and equipment to introduce AI/IoT technologies into our production processes and plants during the period of The TOP 2021.

    c) Contribution to achievement of Sustainable Development Goals (SDGs)
    Aiming to realize the Group's business philosophy and sustainable development of international society and the Group, we stipulated in "Our Code of Conduct" how each employee of the Group should behave and do what, and have been observing it. We also have been offering our products, technologies and services, aiming to promote business activities that are in line with 17 goals stated in SDGs. For example, we produce ammonia by utilizing hydrogen produced through chemical recycling of used plastics. This is our original recycling technology. We also offer graphite electrodes which are used in electric arc furnaces to melt steel scraps in order to recycle them. These technologies and products also contributes to strengthening of our business foundations. The Showa Denko Group, through its business activities, will continue to make its maximum effort to contribute to creation of society where affluence and sustainability are harmonized, as "a Social Contribution Company."

    7. Strategy for each business (Highlights)

    a) Graphite electrodes (Carbon)
    Graphite electrodes are used in electric arc furnaces to melt steel scraps. The tight supply-demand situation in the graphite electrode market is expected to continue due to enforcement of strict environmental regulation in China and other factors. The Showa Denko Group is a leading graphite electrode manufacturer which has the largest production capacity in the world. We will continue to provide our customers with highquality graphite electrodes in a stable manner by making maximum use of the increase in production capacity of our US subsidiary amounting to 30,000 tons per year, and taking maximum advantage of business integration with SHOWA DENKO CARBON Holding GmbH (former SGL GE Holding GmbH). We will aim to improve the stability of the basis of our earning structure through reform of our sales system and stabilization of sales prices and raw-material costs in order to improve our tolerance to market fluctuation.

    b) HD media
    Progress in AI/IoT and utilization of big data have been increasing the amount of generated and stored data in the world very rapidly. We expect that the demand for HDDs will remain stable during the period of The TOP 2021 because the per-bit prices of HDDs continue to be less than those of SSDs. Large storage capacities and technologies to realize high-density data storage are pillars that support price competitiveness of HDDs. The Group has been developing leading-edge large-capacity HD media. We will accelerate development of next-generation large-capacity HD media technology through collaboration with HDD manufacturers, and continue providing our customers with Best In Class products which they require by improving our grinding and membrane formation technologies.

    c) Petrochemicals
    We expect that the demand for petrochemical products in Asia will remain strong due mainly to the rises in economic and income levels in that area, despite the inflow of petrochemical products made from shale gas/oil and construction of new/additional petrochemical plants in Asia. In 2018, SDK achieved full-capacity operation of its ethylene plant for four consecutive years while implementing the policy to give priority to the safe and stable operation of the plant, though many of petrochemical plants in Japan require renewal/replacement of facilities and equipment due to deterioration over time. We will continue contributing to stable supply of petrochemical products, and promote development of new derivatives and cooperation with other plant operators inside and outside the Oita Complex.

    d) High-purity gases for electronics (Electronic chemicals)
    The tight supply-demand situation of high-purity gases for electronics is expected to continue due to strong growth of the markets for semiconductor memory chips and LCD panels and increase in the amount of high-purity gases used in production of 3D-NANDs resulting from the increase in numbers of layers in 3D-NAND flash. The Showa Denko Group is a leading manufacturer of specialty gases providing more than 20 kinds of gases including ammonia, chlorine and fluoride gases. During the period of Project 2020+, we promoted establishment and expansion of facilities to produce gases for etching and sales bases in the US and China, and strengthening of our distribution, procurement and marketing functions. In and after 2019, we will continue developing and launching highvalue added new gases, capital investment and formation of business alliances with other gas manufacturers, aiming to achieve growth of more than 10% per year, which exceeds the expected growth of global semiconductor market.

    e) SiC epitaxial wafer for power devices
    SiC-based power devices are attracting public attention because they are recognized as key devices for energy conservation. The demand for SiC epitaxial wafers for power devices, which contribute to energy conservation, is expected to continue increasing in medium to long term due to the spread of motor-operated cars and automatic driving. SDK has been supplying SiC epitaxial-wafer for power devices with the best quality in the world, and promoting expansion of its facilities to produce "High-Grade Epi." We will continue contributing to the spread of SiC-based power devices through acceleration of development of technologies to realize commercial use of Full-SiC modules and leadingedge epitaxial wafer production technologies.

    About Showa Denko K.K.

    Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

    Contact:
    Showa Denko K.K. Public Relations Office, Tel: +81-3-5470-3235.

    Note: Performance forecast and other statements pertaining to the future as contained in this presentation are based on the information available as of today and assumptions as of today regarding risk factors that could affect our future performance. Actual results may differ materially from the forecast due to a variety of risk factors, including, but not limited to, the economic conditions, costs of naphtha and other raw materials, demand for our products such as graphite electrodes and other commodities, market conditions, and foreign exchange rates. We undertake no obligation to update the forward-looking statements unless required by law.

    Contact:
    Public Relations Office (Phone: +81-3-5470-3235)

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

    0 0

    TOKYO, Dec 11, 2018 - (JCN Newswire) - Showa Denko (SDK; TSE:4004) hereby announces that the Company has revised its forecast of term-end dividends, as in the table given below.

    1. Changes in the forecast of dividends
    ---------------------------------------------------------------------------
                                      Dividend per share (Unit: yen) 
                          End of 1Q   End of 2Q   End of 3Q   Year-end   Total
    ---------------------------------------------------------------------------
    Earlier forecast of dividends for 2018 (Announced on May. 29, 2018)
                                  -       20.00           -      70.00   90.00
    Revised forecast of dividends for 2018 (Announced on Dec 11, 2018) 
                                  -           -           -     100.00  120.00
    Actual dividends for 2018
                                  -       20.00           -          -       -
    Actual dividends for 2017 (January - December 2017)
                                  -        0.00           -      50.00    50.00
    ---------------------------------------------------------------------------
    
    Note1: SDK resolved payment of dividends of 30 yen per share based on the record date of May 11, 2017 at the extraordinary general meeting of shareholders held on June 27, 2017, and paid them.

    2. Reason for the revision of dividend forecast

    SDK has revised the forecast of term-end dividends per share to be paid based on the record date of Dec 31, 2018, taking collectively into account its policy on return to shareholders, stability in dividends, and the 2018 performance forecast.

    About Showa Denko K.K.

    Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

    Contact:
    Contact: Showa Denko K.K. Public Relations Office, Tel: +81-3-5470-3235.

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

    0 0

    TOKYO, Dec 11, 2018 - (JCN Newswire) - At its Board of Directors' meeting held on December 11, 2018, Showa Denko resolved to repurchase its own shares pursuant to Article 156 and Article 165, Paragraph 3 of the Companies Act of Japan, as outlined below.

    1. Purpose of Repurchase
    To enhance the return to shareholders, improve capital efficiency and implement agile capital policies corresponding to changes in the business environment.

    2. Details of Repurchase

    (1) Class of shares to be repurchased: Common shares
    (2) Total number of shares to be repurchased: Up to 3.0 million (2.02% of total shares outstanding, excluding treasury stock)
    (3) Total amount of repurchase: Up to 10 billion yen
    (4) Period of repurchase: From December 12, 2018 to March 22, 2019

    (Reference) Status of own shares as of June 30, 2018
    Total number of shares outstanding (excluding treasury stock): 1,488,813,137
    Number of treasury stock shares: 898,155
    Note: not including 288,400 shares of treasury stock which the Board Benefit Trust (BBT) has hold.

    About Showa Denko K.K.

    Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

    Contact:
    Showa Denko K.K. Public Relations Office, Tel: +81-3-5470-3235.

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Singapore homegrown Muay Thai fighter Lena Tan wins Gold for the Senior Female Bantam Weight (54kg) category at IFMA Asian Muaythai Championships today
    SINGAPORE, Dec 11, 2018 - (ACN Newswire) - Homegrown Muay Thai fighter Lena Tan has won the Gold medal at the recent International Federation of Muaythai Amateur ("IFMA") Asian Muaythai Championships 2018, a historic first-ever championship win by a Singaporean at the international level of the sport.

    In a resolute and inspiring outcome, Lena Tan defeated India's Vaishali Shiv to win the coveted title for the Senior Female Bantam Weight (54kg) category. Lena has practised the combat sport for 15 years and is a national team member under the National Sports Association, Amateur Muaythai Association Singapore ("AMAS").

    Demonstrating the fighting never-say-die Muaythai spirit, Lena defeated several contenders before an inspiring fight at the final, 11 December 2018 which ended by way of referee stoppage.

    Thirty-four countries participated in 109 bouts at the Championships held in Macau from December 4 to 12 which featured 125 athletes representing the various delegations. Athletes from the Singapore Muaythai National Team secured one Bronze medal (Cheryl Gwa) for the Senior Female Light Fly Weight (48kg) category and one Silver Medal (Lee Dejun) for the Senior Male Light Weight (60kg) category, respectively.

    The awards, including the coveted gold won by Lena, constitute the most prestigious awards obtained in Singapore's amateur Muay Thai history. The sport, which originated in Thailand and is fast gaining popularity in the republic, has recently been provisionally recognised as an Olympic sport.

    AMAS' recently-appointed President Mr. Clement Ong thanked SportSg's Mr. Toh Boon Yi, Mr. John Batista, Mr. Todd Vladich and Mr. Randee Ng as well as the patronage of Novena Global Healthcare Group, SL Foods, Teelek Petroleum and Mr. Suresh Damodara for their consistent support. "This is a historic moment for Singapore Muay Thai. The success of Lena and her teammates augur a new chapter for the sport in Singapore. We owe so much to our sponsors and supporters as AMAS seeks to fulfil its vision for local athletes to compete at the highest level of the sport and promote the fundamental values and ethics of Muay Thai," said Mr Ong.

    The International Federation of Muaythai Amateur, or IFMA, is the sole recognised governing body of amateur Muay Thai consisting of 130-member countries worldwide with five continental federations. IFMA is officially recognised and Muay Thai is an official sport in global events such as the Arafura Games, TAFISA Games, SEA Games, Asian Indoor and Martial Arts Games, Asian Beach Games, Demonstration Sport in the Asian Games, World Games and World Combat Games.

    About Amateur Muaythai Association Singapore (AMAS)

    Amateur MuayThai Association Singapore (AMAS) is the main governing body for the sport, covering the management of MuayThai activities, coaching, talent-scouting, coordinating competitions worldwide and promotion of the sport in Singapore. AMAS regulates and controls the conduct of athletes, instructors, clubs, gyms and schools in the Republic of Singapore. AMAS is recognised by Sports Singapore (SS) and Singapore National Olympic Council (SNOC). It is also sanctioned by the International Federation of MuayThai Amateur (IFMA) and World MuayThai Council (WMC).

    More information about AMAS (www.amasmuaythai.org) and IFMA (www.ifmamuaythai.org) can be found on their respective websites.

    For further information, please contact:
    Christopher del Agua
    Xprexo Networks Pte Ltd
    3 Phillip Street #12-01
    Singapore 048693
    E: christopher@xprexo.net; P: +65 82868292

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    HONG KONG, Dec 12, 2018 - (ACN Newswire) - China Minsheng Financial Holding Corporation Limited ("CM Financial" or "Group", stock code: 00245.HK) is pleased to announce that Mr. ZHENG Li, CEO & Executive Director of the Company, has won the award of "CEO Of The Year 2018" presented by CEO Magazine and CAPITAL Entrepreneur.

    Held by CEO Magazine and CAPITAL Entrepreneur, "CEO X Entrepreneur of the Year 2018" and "Supreme Brand Awards" is a signature annual awards ceremony. It gathers all cover persons of the two magazines, as well as celebrities of town for a memorable time to encourage and sustain the entrepreneurial spirit in Hong Kong.

    According to the introduction of CEO Magazine and CAPITAL Entrepreneur, the editorial board conducts an in-depth review on potential candidates and selects the winner of following judging criteria, including Vision and Leadership, Corporate Performance, Global Competitiveness, Innovative Business Achievements and Social Responsibility. The award of "CEO Of The Year 2018" is to honor extraordinary CEOs who have accomplished outstanding achievement for their companies and contributions to societies. (Source: www.capital-hk.com/ebook/CEO2018/)

    Mr. ZHENG Li, CEO & Executive Director of the Company said that, "Thanks to the organizers and the judges' accreditation, the 'CEO Of The Year 2018' is a great encouragement to me and CM Financial, which also fully reflecting the public's affirmation to us. Since 2018, we have been optimistic about 'Digital Finance' and are trying to use technology as the core to thoroughly innovate traditional securities companies and asset management companies in Hong Kong through the means of AI and blockchain. In the establishment of financial data acquisition and data structure system, we take the hardware chip technology as a breakthrough, supplemented by software development to create more alternative investments. At the same time, we actively respond to the Company's call to acquire experienced talents, to adjust and optimize the management and core business teams to form a more professional, efficient and experienced talent team that can maximize the company's business, and to create the best returns for our shareholders. I hope I can hold on together with the company to move forward in the near future."

    About China Minsheng Financial Holding Corporation Limited (Stock Code: 00245.HK)
    China Minsheng Financial Holding Corporation Limited ("CM Financial", stock code: 00245) is listed on the Main Board of the Stock Exchange of Hong Kong, and aims to become a comprehensive financial services platform for our partners. CM Financial is now headed by a management team with extensive experience in international financial market and in-depth knowledge of the Chinese market and culture. With abundant capital and the twin growth drivers of "Investment + Investment Bank", China Minsheng Financial Holding Corporation Limited enables effective cooperation between the financial sector and various industries, thus providing comprehensive financial services for both the Chinese and overseas companies.


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    First multi-actor partnership tests chemical compounds for antibacterial activity

    TOKYO, Dec 12, 2018 - (JCN Newswire) - The Global Antibiotic Research and Development Partnership (GARDP), Eisai Co., Ltd. and Takeda Pharmaceutical Company Limited (TSE: 4502) have signed an agreement for GARDP to access and screen components of Eisai and Takeda's chemical libraries. Both libraries will be tested by the Institut Pasteur Korea in the hope of discovering novel compounds with antibacterial activity. This multi- partner agreement supports GARDP's efforts to tackle serious bacterial infections by developing antibiotics while endeavouring to ensure their sustainable access.

    With few antibiotics in development, antimicrobial resistance is a major and rapidly growing global public health concern. Around 700,000 people die of drug-resistant infections every year.(1) Serious bacterial infections, and in particular Gram-negative bacterial infections, have been identified by the World Health Organization (WHO) as a global public health priority.

    The compounds that will be screened have emerged from Eisai and Takeda's latest medicinal chemistry efforts and have never been screened for antibacterial activity. They will be tested against bacteria identified as a critical priority for research and development of new antibiotics in WHO's global priority pathogen list.(2) Through this screening, GARDP seeks to identify novel compounds suitable for further optimization and development.

    "GARDP is very excited about this partnership. Not only can partnerships like this accelerate the discovery of new antibiotics, they can also support the pharmaceutical sector in staying engaged in antibiotic R&D," said Dr. Seamus O'Brien, Research and Development Director at GARDP.

    "Overcoming antibacterial resistance is key to achieve universal health coverage. GARDP's approach allows us to develop a drug from early exploratory to preclinical and clinical studies all the way to patients."

    "Eisai strongly identifies with GARDP's efforts to discover novel antibiotics to treat drug-resistant bacterial infections which have become a threat to human beings and are pleased to provide our compound library for screening. We sincerely hope new medicines will be discovered through this partnership to realize a world in which lives are no longer lost to drug-resistant bacteria," said Dr. Kappei Tsukahara, Senior Group Officer, Head of Human Health Care Data Creation Center, Head of Tsukuba Research Laboratories at Eisai.

    "Takeda is delighted to contribute to this creative partnership and extend our commitment to promoting the discovery of novel treatments to treat life-threatening antibiotic resistance," said Dr. Ceri Davies, Head of the Neuroscience Drug Discovery Unit at Takeda.

    "We are honoured to collaborate with GARDP on a global project of great importance to find a solution for antibiotic resistance. The world needs global cooperative action to prevent the post-antibiotic era. This work, instigated by GARDP, is an active response to this urgent global demand that connects Institut Pasteur Korea's resources with the technology of global pharmaceutical companies. We believe that together we can achieve much more," said Dr. Wangshick Ryu, CEO of the Institut Pasteur Korea.

    (1) O'Neill, J. (Chair) (2016). Tackling drug-resistance globally: Final Report and recommendations.
    (2) WHO. (2017). Global priority list of antibiotic-resistant bacteria to guide research, discovery, and development of new antibiotics. World Health Organization.

    About GARDP

    GARDP is a not-for-profit research and development organization that addresses global public health needs by developing new or improved antibiotic treatments, while endeavouring to ensure their sustainable access. Initiated by the World Health Organization (WHO) and the Drugs for Neglected Disease initiative (DNDi), GARDP is an important element of WHO's Global Action Plan on Antimicrobial Resistance that calls for new public-private partnerships to encourage research and development of new antimicrobial agents and diagnostics. www.gardp.org.

    About Takeda Pharmaceutical Company Limited

    Takeda Pharmaceutical Company Limited (TSE: 4502) is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and neuroscience therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. Innovative products, especially in oncology and gastroenterology, as well as Takeda's presence in emerging markets, are currently fueling the growth of Takeda. Approximately 30,000 Takeda employees are committed to improving quality of life for patients, working with Takeda's partners in health care in more than 70 countries. www.takeda.com/newsroom.

    About Institut Pasteur Korea

    Institut Pasteur Korea (IPK) is an international research institute focused on addressing global health issues with a combination of cutting-edge approaches in order to understand disease mechanisms and develop new treatments. By promoting multi-disciplinary projects, IPK is at the forefront of drug discovery and an economic growth engine that contributes to Korea's scientific intellectual and technical resources. IPK is a member of the Institut Pasteur International Network. As a hub institution, IPK plays a key role in the Network, serving as a bridge between Korea and global bio-pharma science, expanding Korea's R&D base collaborative research projects with global alliances.

    About Eisai

    Eisai Co., Ltd. is a leading global research and development-based pharmaceutical company headquartered in Japan. We define our corporate mission as "giving first thought to patients and their families and to increasing the benefits health care provides," which we call our human health care (hhc) philosophy. With approximately 10,000 employees working across our global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to realize our hhc philosophy by delivering innovative products to address unmet medical needs, with a particular focus in our strategic areas of Oncology and Neurology.

    As a global pharmaceutical company, our mission extends to patients around the world through our investment and participation in partnership-based initiatives to improve access to medicines in developing and emerging countries.

    For more information about Eisai Co., Ltd., please visit www.eisai.com.

    Contact:
    GARDP Susan Frade sfrade@dndi.org +41 79 640 00 99 Takeda Pharmaceutical Company Limited Tatsuhiro Kanoo tatsuhiro.kanoo@takeda.com +81 3 3278 3634 Institut Pasteur Korea Eunjung Eom eunjung.eom@ip-kora.org +82 31 8018 8047 Eisai Co., Ltd. Public Relations Department +81 3 3817 5120

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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