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HDBank wins award for outstanding international payment service for 3rd consecutive year

HDBank wins award for outstanding international payment service for 3rd consecutive year

HO CHI MINH CITY, VIETNAM – Media OutReach – 26 November 2020 – For its almost 100 per cent success rate in straight-through processing, the Ho Chi Minh City Development
Joint Stock Commercial Bank (HDBank, HOSE: HDB) has received the MT202 and MT103 STP awards for international payment services from
J.P. Morgan Chase Bank.

This is the third year in a row HDBank has
won the MT202 award, and the second year the Bank has received the MT 103 award.

Both are given by J.P Morgan Chase Bank,
the US’s largest lender in terms of assets and the world’s largest US dollar
clearing agent.

HDBank’s STP rates exceed the benchmarks
set by global credit institutions.

According to JP Morgan
Chase and other large institutions and agents providing clearing services in the
greenback and euro, the STP rate for international electronic payment is
currently 89-90 per cent on average.

With an exceptional STP
rate of 99.94 per cent for MT202 and 99.68 per cent for MT103, HDBank was one
of the few Vietnamese banks to win the top prize.

This underlines the
prestige and quality of HDBank’s international payment services with its modern
technology platform and employees’ professional competence in meeting the
financial transaction needs of customers around the world.

According to JP Morgan
Chase, HDBank is its leading banking partner in Việt Nam in terms of both size
and quality of international payment services.

HDBank’s business performance through the JP Morgan Chase
system has continued to thrive even amid the challenges faced by the global and
Vietnamese economies due to the impacts of Covid-19.

With its relationships
with more than 400 agents who are banking institutions and strategic co-operation
with many leading Vietnamese and international partners, HDBank has extensive
international payment operations and the Bank’s international payment services
quality is recognised also by other leading lenders.

HDBank is also a
pioneer in bringing effective added value to customers around the globe through
investing in and using modern technologies in the bank’s services and products,
especially international payment services, digitising processes, meeting
management requirements according to international standards, and constantly
improving operational efficiency with a commitment to bringing the maximum
benefits to customers.

HDBank became the first
lender in Việt Nam to join the TradeAssets Trade Finance E-marketplace to
connect with and process trade finance transactions on the blockchain
application platform, and Contour, an open trade finance network.

HDBank
also deploys the global payment query service via Swift GPI and is a pioneer in providing international money transfer
query services via Swift GPI in various currencies like USD,
GBP, EUR, CHF, AUD, CAD, JPY, THB, NZD, HKD, and SGD.

At
the same time the Bank has successfully put into operation the Treasury – FIS
Front Arena system to seamlessly meet the requirements involved in handling
business transactions and managing currency trading risks.

In addition to retaining the leading position
in digitisation in the banking sector, HDBank remains on a high growth path in
the third quarter of the year.

Moody’s credit rating agency has maintained a
credit rating of B1 for HDBank.


About HDBank

Ho Chi Minh
City Development JSC Bank (HDBank, HOSE: HDB) was established in 1990, making
it among the first commercial banks in Vietnam.

After 30 years
of operations, HDBank is now one of the leading banks in
Vietnam. It has strong finances and modern
technology, and provides a wide range of financial
services to individuals, corporates and investors.

CIFI’s Corporate Family Rating (CFR) Upgraded to ‘Ba2’ and Senior Unsecured Debt Rating on Its Existing Notes Upgraded to ‘Ba3’ by Moody’s Outlook Stable

CIFI’s Corporate Family Rating (CFR) Upgraded to ‘Ba2’ and Senior Unsecured Debt Rating on Its Existing Notes Upgraded to ‘Ba3’ by Moody’s Outlook Stable

HONG KONG SAR – Media OutReach – 26 November 2020 – CIFI Holdings (Group) Co. Ltd. (“CIFI” or the “Group”, HKEx stock code: 884), a leading real estate developer and investor in first-, second- and robust third-tier cities in China, is pleased that Moody’s Investors Service (“Moody’s”) has upgraded the corporate family rating (CFR) of CIFI Holdings (Group) Co. Ltd. to Ba2 from Ba3 and upgraded the senior unsecured debt rating on its existing notes to Ba3 from B1. The outlook is stable. This reflects CIFI’s business development, management efficiency, and credit quality improvement in recent years have been recognized by Moody’s.

 

Moody’s rating report expected that CIFI’s credit metrics will improve over the next 12 to 18 months, supported by strong revenue growth and controlled debt growth. Moody’s believed that with CIFI’s more geographically diversified operations and continued strong access to funding, will enable the Group to deliver solid business growth over the next 12 to 18 months.

 

The report stated that CIFI contracted sales grew 12% to RMB174.4 billion in the first ten months of 2020, despite the negative impact on sales from coronavirus outbreak, especially in the first half of the year. This reflects the Group’s ability to execute its property development strategy, which is focused on catering to the housing demand from upgraders in key tier-1 and tier-2 cities in China.

 

Moody’s expected that CIFI’s sizable salable resources, strong sales execution and solid housing demand in the Group’s core markets will enable the Group to further grow its contracted sales to RMB220billion to RMB240 billion over the next 12 to 18 months. The Group’s EBIT/interest will also improve to 3.1x to 3.6x from 2.5x over the same period, driven by higher earnings and declining interest costs.

 

Furthermore, as CIFI continues to demonstrate prudent financial management with a balanced debt maturity profile and solid balance sheet liquidity, Moody’s believed that CIFI’s debt will improve to 65%-75% over the next 12 to 18 months, from 46% for the 12 months ended June 2020, driven robust revenue recognition on the back of the company’s strong contracted sales over the past two to three years, as well as its disciplined approach to pursuing growth and controlling debt increase.

 

Mr. Lin Zhong, Chairman of CIFI, said “We welcome the upgrade of our corporate family rating and senior unsecured debt rating by Moody’s. The move is the capital market’s recognition of CIFI’s achievements. CIFI raised funds prudently in the offshore capital markets in 2020. The newly issued long-term US dollar debts exceeded 5-year maturity, effectively extending the average debt maturity and lowering the average financing costs. It fully reflects the recognition of credit quality of CIFI by the investors.

 

“Moreover, under the new three red lines’ rules, the debt control by real estate companies will benefit the long-term and healthy development of the industry. Looking ahead, as a leading real estate developer, CIFI will continue to implement prudent financial policies to improve our credit quality and generate encouraging return to our shareholders”, Mr. Lin said.

About CIFI (Group):

Headquartered in Shanghai, CIFI is one of China’s top real estate developers. CIFI principally focuses on developing high-quality properties in first-, second- and select third-tier cities in China. CIFI develops various types of properties, including residential buildings, offices and commercial complexes.

 

To learn more about the Company, please visit CIFI’s website at: http://www.cifi.com.cn

 

Shop for a Cause, Shop for H.O.P.E.

Shop for a Cause, Shop for H.O.P.E.

KUALA LUMPUR, MALAYSIA – Media OutReach – 26 November 2020 – The
Covid-19 outbreak has affected everyone, including
animals, to varying degrees. According to non-profit organisation Homeless
& Orphan Pets Exist (H.O.P.E), there has been a 30% increase in animal
abandonment at the animal shelter during the Movement Control Order. This is
possibly due to the growing financial burden that pet owners are facing. 

 

Understandably,
with the current economic climate, donations to the H.O.P.E animal shelter
located in Pekan Nenas, Johor have reduced greatly. Daily, H.O.P.E feeds an
average of 1.2 tonnes (1,200 kg) of pet food to over 3,000 dogs and 200 cats
that it is currently sheltering. This works out to more than RM140,000 needed
to ensure these furry friends are fed on a monthly basis; and this is on top of
the RM20,000 incurred for medical expenses and miscellaneous.

 

With the goal of
improving the lives of pets through nutrition, shelter and education, pet care
product brands WHISKAS® and PEDIGREE® are collaborating with H.O.P.E. animal
shelter to raise funds via the “Shop for H.O.P.E.” campaign on Shopee happening
from now till 6 December 2020.

 

Through this
campaign, Shopee users and pet lovers can make donations of RM10, RM20 or even
RM50 to the animal shelter. Additionally, for every purchase made through the
Whiskas and Pedigree Official Store on Shopee, 10% will be converted to
products which will later be presented to H.O.P.E. 

 

Mars Petcare Southeast Asia Pet Nutrition D-Commerce
Director Phua Fui Ching
said, “Ever so often, we
come across a news article or video on social media on animals being abandoned
and it is heart-wrenching. At Mars Petcare, we believe that pets make the world
a better place and therefore, collaborating with H.O.P.E as well as Shopee is
one of the many initiatives to achieve our goal in creating a better world for
pets where they are healthy, happy and welcomed. Through this partnership, we
hope to raise at least RM10,000 worth of pet food to be donated to H.O.P.E to
help ease their burden.”

 

In a bid to
garner more proceeds for the animal shelter, WHISKAS® and PEDIGREE® will also
be offering in-store vouchers of RM7 off with a minimum spend of RM70 and RM10
off with a minimum spend of RM100 to encourage pet lovers to purchase more from
the store.

 

To find out more
or show support for the Shop for H.O.P.E. campaign, visit https://shopee.com.my/m/hope.whiskaspedigree

About Mars Petcare:

Part
of Mars, Incorporated, a family-owned business with more than a century of
history making diverse products and offering services for people and the pets
people love, the 85,000 Associates across 50+ countries in Mars Petcare are dedicated to one
purpose: A BETTER WORLD FOR PETS. With 75 years of
experience, our portfolio of almost 50 brands serves the health and nutrition
needs of the world’s pets — including brands PEDIGREE®, WHISKAS®, ROYAL CANIN®, NUTRO™, GREENIES™, SHEBA®, CESAR®, IAMS™ and EUKANUBA™ as well as
the WALTHAM Petcare Science Institute which has
advanced research in the nutrition and health of pets for over 50 years. Mars
Petcare is also a leading veterinary health provider through an international
network of over 2,000 pet hospitals and diagnostic services including BANFIELD™, BLUEPEARL™, VCA™, Linnaeus, AniCura and Antech. We’re also
active in innovation and technology for pets, with WISDOM PANEL™ genetic
health screening and DNA testing for dogs, the WHISTLE™ GPS dog
tracker, and LEAP VENTURE STUDIO accelerator
and COMPANION FUND™ programs that
drive innovation and disruption in the pet care industry. As a family business and guided by our
principles, we are privileged with the flexibility to fight for what we believe
in — and we choose to fight for: A BETTER WORLD FOR PETS.

About Mars, Incorporated:

Mars is a family-owned business with more than a century of history making diverse products and offering services for people and the pets people love. With over $35 billion in sales, the company is a global business that produces some of the world’s best-loved brands: M&M’s®, SNICKERS®, TWIX®, MILKY WAY®, DOVE®, PEDIGREE®, ROYAL CANIN®, WHISKAS®, EXTRA®, ORBIT®, 5™, SKITTLES®, UNCLE BEN’S®, and COCOAVIA®. Mars also provides veterinary health services that include BANFIELD® Pet Hospitals, Blue Pearl®, VCA® and Pet Partners™. Headquartered in McLean, VA, Mars operates in more than 80 countries. The Mars Five Principles — Quality, Responsibility, Mutuality, Efficiency and Freedom — inspire its more than 115,000 Associates to create value for all its partners and deliver growth they are proud of every day.

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