Category: Business

First of Its Kind Investment Opportunity for Asia-Based Oncology Technology Start-Ups

 

HONG KONG, CHINA - Media OutReach - 4 August 2020 - The Asian Fund for Cancer Research (AFCR) is now accepting
applications from oncology start-ups for the Bridging Research from
Academia to Cancer Entrepreneurship (BRACE) Award Venture Competition. The event and program uniquely supports Asian entrepreneurs'
cancer technology commercialization and start-up business efforts.

 

The BRACE Award Venture Competition
offers financial and other support to oncology companies which most biopharmaceutical
corporations and investors deem as at too early a stage, including those
recently spun-out of cancer research laboratories. The program avails participants
to potential investment and cash awards, key opinion leaders, insightful
feedback from life sciences industry figures, increased visibility and
credibility, and opportunity to further tap into AFCR's extensive global
network.

 

Accepted BRACE Award Venture
Competition applications will be reviewed by a selection committee comprised of
leading cancer researchers and industry executives, investors and entrepreneurs.
Additionally, all accepted applications will have the opportunity to showcase
their companies and technologies in a short video to be voted on by the public
as the "People's Choice." Top applicants as determined by the selection
committee, along with the winning applicant of the online voting, will advance
as semi-finalists.

 

The semi-finalists will deliver virtual
private and confidential presentations to a world-class judging committee, and
two finalists will be selected and granted cash prizes of HK$10,000. Among the
finalists, professional due diligence will be performed in determining the
BRACE Award Venture Competition winner, which will receive up to HK$2,000,000 in
equity investment from AFCR and be announced and featured at the BIOHK2021 international
convention-- scheduled for 10-13 March 2021 in Hong Kong.

 

"With the BRACE Award Venture
Competition and infusion of investment into its winner, AFCR aims to raise
awareness of the importance of accelerating commercialization of cancer research
innovations that could save patients' lives" says Asian Fund for Cancer
Research Chief Executive Officer Sujuan Ba, Ph.D. "We also hope to build up
critically needed ecosystems helping life sciences entrepreneurs throughout the
Asia-Pacific region."

 

"The BRACE Award Venture
Competition is an important addition to our region's cancer technology and
biomedical industry environment, fostering ideas and approaches on the cutting
edge of research" expressed AFCR Chairman of the Board Gary
Wong, a partner of Hugill
& Ip Solicitors, which is one of the event sponsors.
"Few sources are willing to invest in high risk, pre-clinical start-ups and,
through the BRACE program, our organization is proud to be in the lead."

 

Learn more about the BRACE Award Venture
Competition and apply before 31 August at https://afcr.org/en/brace-award/.

 

About the Asian Fund for Cancer Research

The Asian Fund for Cancer Research (AFCR) is a
non-profit organization committed to curing cancers that have significant
impacts on Asian populations. Headquartered in Hong Kong, AFCR is uniquely
positioned to implement in Asia the newest cancer research discoveries and
technologies from around the world, investigate the distinct causes of cancer
in Asian populations through innovative genetic and molecular research, and
develop more effective therapies tailored to the region's cancer patients. For
more information, visit https://www.afcr.org.

About Hugill & Ip Solicitors

Hugill & Ip
Solicitors is an independent law firm providing bespoke legal advice and
exceptional client service to individuals, families, entrepreneurs and
businesses, in Hong Kong and internationally. Hugill & Ip provides high
quality legal services with integrity, professionalism and respect for clients
and the community. For more information, visit https://www.hugillandip.com.

About BIOHK2021

BIOHK2021 is the upcoming annual international
convention organized by the Hong Kong Biotechnology Organization, introducing novel,
state-of-the-art biotech innovations from around the globe, with the purpose of
providing an extensive platform to allow pioneers of the industry to convene.
From infectious diseases like COVID-19, to the latest cancer treatments and
diagnostics, BIOHK2021 will cover relevant and timely topics in biotechnology.
For more information, visit https://bio-hk.com.

Geographic Market Analysis

The Greater China region remained as the Group's largest geographical market, recording revenue of HK$4,745.1 million and accounting for 66.5% of total revenue. Revenue from overseas markets decreased by 6.4% to HK$2,388.9 million. Revenue from North America increased by 7.3% to HK$953.1 million, making up 13.4% of the Group's total revenue.

Prospects

Looking ahead, the Group will continue to pursue a development strategy aimed at creating a more diversified and differentiated product portfolio, such as expanding a high value-added product portfolio that includes specialty glass, with the aim of improving overall gross profit margin. Differentiated products accounted for more than 35% of float glass product sales in the first half of 2020. In the future, the Group will continue to implement related strategies and focus on increasing the proportion of quality special float glass, so that its overall product portfolio could better cope with the volatile market environment. In addition, the Group is also actively expanding upstream along the industrial chain. Production cost is expected to be further reduced as the Group's in-house silica-sand mine commences operation.

 

Regarding production capacity, the Group will adhere to its global expansion layout, that is, to smoothly expand its production capacity in areas with rich resources and a stable supply of power. The annual production capacity of float glass has increased from 5.6 million tons in 2019 to 6.35 million tons at the end of this year, and the new automobile glass production lines located in Beihai, Guangxi is expected to boost the output to the replacement market to 20 million pieces, laying a sound foundation for future development. Besides, the Group has ordered four Low-E architectural glass production lines, increasing the production capacity of related products by over 30% after they start full operation, enabling it to seize the rising enormous market demand for Low-E architectural glass. 

 

Dr. Lee concluded, "Stepping into the second half of 2020, the market has started to revive. We believe that the worst moments of the glass industry have passed. In fact, decreasing material costs such as soda ash and natural gas have actually enhanced profitability. As the market expects the supply and demand of float glass products to become more balanced, and the rigid demand will be released, the management is optimistic about the Group's business outlook. Looking ahead, as an industry leader, we will work hard to strive for excellence in various businesses, tap the emerging opportunities when the market warms up, and bring satisfactory returns to our shareholders."

About Xinyi Glass Holdings Limited (Stock Code: 868)

Established in Hong Kong and listed on the Main Board of the Hong Kong Stock Exchange in February 2005, Xinyi Glass is one of the largest integrated manufacturers of high quality float glass, automobile glass and architectural glass in China and overseas. Xinyi Glass' registered trademark was recognized as "China Well-known Trademark" by the State Administration for Industry and Commerce in 2017. Its automobile glass brand was named "China Top Brand" in 2007 by the General Administration of Quality Supervision, Inspection and Quarantine of the PRC. Xinyi Glass has established ten production complexes in various key economic zones in different provinces in all parts of China as well as Malacca in Malaysia. The Group is included as a constituent of 29 Hang Seng Indexes, including Hang Seng Composite Index, Hang Seng Stock Connect Hong Kong ("SCHK") Index, Hang Seng High Dividend Yield Index, Hang Seng Mainland China Companies High Dividend Yield Index, Hang Seng Stock Connect Big Bay Area Composite Index etc., as well as MSCI Hong Kong Small Cap Index, MSCI Golden Dragon Small Cap Index, MSCI All Country ("AC") Far East Ex Japan Small Cap Index, MSCI AC Asia Ex Japan Small Cap Index, and MSCI Zhong Hua Small Cap Growth Index,. Xinyi Glass is the single largest shareholder of Xinyi Solar Holdings Limited (stock code: 00968), holding 24.42% of the number of Xinyi Solar Shares in issue. Also, Xinyi Glass directly holds 6.34% of the number of Xinyi Energy Holdings Limited (stock code: 03868) Shares in issue.

 

For details, please visit www.xinyiglass.com or scan below QR code.

All Ohmyhome's in-house agents have emerged as the top 100 agents with over almost 30,000 agents nation-wide, reinforcing Ohmyhome as the wave of the future in PropTech Industry in Singapore

 

SINGAPORE - Media OutReach - 3 August 2020 - Singapore's unique one-top property solution Ohmyhome announced today that its in-house agents emerged amongst the top 1% for HDB flat resale transactions. This comes at a time when the nation has experienced a plunge in real estate transactions due to the COVID-19 pandemic. 

Derived from the Council for Estate Agencies (CEA) data, the ranking is based on the number of HDB resale transactions from 1 January 2020 to 8 July 2020. Over this 6-month period, Ohmyhome agents have transacted an average of 16 HDB resale flats per agent.

Reinforcing their position at the forefront of the Proptech industry, one of Ohmyhome's top performing agents has also recently tapped on Ohmyhome's virtual viewing tools and closed a five-room HDB flat in Woodlands at a record-breaking price when the 1,291 sq ft unit changed hands for $410,888, within 4 days of its exclusivity contract with Ohmyhome. Despite the dampened market, Ohmyhome's proprietary technology in aggregation of buyers in the market enabled the company to match buyers to the property, fetching a higher selling price for the seller. This tops the previous highest record of $398,000 chalked up by a 1,291 sq ft, five-room flat in the same area, back in June 2017.

Rhonda Wong, CEO and Co-founder of Ohmyhome, noted that the factors behind Ohmyhome's success include the strong culture of teamwork, which stems from the company's robust ecosystem and the team's unwavering commitment towards a common goal of seeing Ohmyhome's methods and speed of transacting become the norm globally.

"At Ohmyhome, we strive together as a team, supporting one another. When you engage our agent service, you are also engaging the entire company that is dedicated to providing you with a seamless housing journey from transactions to renovations. It has always been part of Ohmyhome's DNA to be there for every step of the housing journey. Our agents being in the top 1% proves that Ohmyhome's strategy of being a tech-led property company, with a focus on 360-degree support for agents, is leading the charge to shape the future of the Proptech industry," Rhonda said. 

SHENZHEN, CHINA - Media OutReach - 3 August 2020 - China's SOOCAS, a personal care appliance startup based in Shenzhen, has launched its first electric shaver S3 in the US market, following a big success in its domestic market. The product is featured by its IFT (Infinity Floating Technology), one of the most innovative technology in the personal care area.

SOOCAS S3 is the first electric shaver to use automotive suspension technology, or IFT (Infinity Floating Technology), enabling the blade head to be more flexible and rotate 360 degrees horizontally, even up and down. Thereby, the blade head meets most people's needs even though their face shapes differ, and it sure to provide more comfortable shaving.

 

The blade head can adapt to different angles and forces, which is excellent for different face contours and enjoyment after thorough shaving. In addition, it is very convenient to dismantle the blade head, just by pressing the buckle at the front, then, you'll be able to clean it.

 

SOOCAS is always dedicated to design simple, crisp, and practical products. As electric shaver is for men, S3 has something different. It denotes the masculinity: mature and solemn.

 

The overall appearance is simple. The black handle of the main body has a delicate matte and skin-friendly surface, whereas, it easy to retain grease and dust. On the upper part of the handle in light gold is a power button position that extends to the top. The CD texture of the cut surface and the power button is for an enhanced visual experience. The blade also features the contrasting colors, but slightly different from that of the handle. The handle is round, whereas, the blade head looks more distinct with tougher lines.

 

S3 is the latest of SOOCAS' lines of men's grooming, demonstrating the company's ambition to complete with international big names like Philips, Braun. The company said that it applied dozens of patents in electric shaver. The product will be first available on its Amazon brand store first.

 

According to a statement from SOOCAS founder Meng Fandi, the company has achieved profitability since its launch and has seen its margin increase over the years. It plans to spend its fresh proceeds on marketing in a race to lure China's increasingly sophisticated young consumers with toothbrushes and its new lines of hair dryers, nosal trimmers and other tools that make you squeaky clean.

About SOOCAS

SOOCAS positions itself as a personal care fashion brand and provides electronic products for personal care, such as electric toothbrushes, water flossers, shavers, and hairdryers. SOOCAS, with its Chinese name Sushi meaning pure, neat, and elegant persons, aims to help users improve personal image and quality of life. At the same time, SOOCAS also focuses on creating unforgettable user experience, adheres to the product creation principle of "pure, smart, and elegant" all along, and integrates innovative technology with exquisite design, to make you become a better you in product experience.

Focuses on business development in China; Continues to implement the multi-brand strategy

 

HONG KONG, CHINA - Media OutReach - 31 July 2020 - The leading international sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or "the Company", together with its subsidiaries, "the Group", HKEx stock code: 3818) announces that its non-wholly owned subsidiary Phenix Co., Ltd ("Phenix") will sell the Kappa Japan trademarks and the IP miscellaneous assets for a consideration of US$13 million (equivalent to approximately RMB91.26 million) to Basic Trademark S.r.l. con socio unico, a wholly-owned subsidiary of BasicNet S.p.A.. The disposal includes the Kappa Japan trademarks and the IP miscellaneous assets used in the Japan business. Closing of the disposal shall take place on 15 September 2020 or no later than 15 October 2020.

 

Taking into account of the consideration of US$13 million, the unaudited book value of the Kappa Japan trademarks and the IP miscellaneous assets of US$1.98 million as at 30 June 2020 (equivalent to approximately RMB13.9 million), and the estimated transaction costs of US$0.09 million (equivalent to approximately RMB0.63 million), the Group is expected to record an unaudited estimated gain on the disposal of approximately US$10.93 million (equivalent to approximately RMB76.73 million). The net proceeds from the disposal will be applied for production and operation, as well as external investment of the Group.

 

The Chairman of the BasicNet Group, Mr. Marco Boglione, regarding the transaction stated: "I admit that the satisfaction with repurchasing the Kappa brand in Japan is immense. With the world's third largest economy entering the BasicNet system, the global strategic project for the "omini" brand is completed. China DongXiang will independently manage the Kappa brand in the PRC and Macau, and BasicNet the rest of the world. I would like to take this opportunity to thank my friend Mr. Chen Yihong, Founder, Chairman and Executive Director of China DongXiang, who has been working with passion, courage and intelligence to develop the standing and growth of the Kappa brand for almost 20 years now. "

 

Mr. Chen Yihong, Founder, Chairman and Executive Director of China Dongxiang, said: "The disposal enables the Group to better integrate its resources and focus on the development of Kappa brand in the PRC, which is in the interests of the Group's long-term development and the shareholders as a whole. Looking forward, we will, as always, continue to develop our business in the PRC through a multi-brand strategy, as well as to explore market opportunities."

 

Chairman Chen concluded, "In 2006, China Dongxiang acquired from BasicNet all rights of Kappa brand in Mainland China and Macau. In 2008, the Group acquired Phenix, which owned and managed Kappa brand in Japan, becoming the owner of Kappa in both China and Japan. Today, the sale of Kappa Japan back to BasicNet reflects our close and harmonious relationship. In our nearly two decades of cooperation, I'm delighted that we have been respecting each other's core interests, and continued to deepen our cooperation. I would like to express my sincere gratitude to Mr. Marco Boglione, Chairman of BasicNet. I hope that we can treasure what we had in the past and look forward to the future, working on our new foundation and bring the century-old brand Kappa towards a new milestone."

 

Headquartered in Turin, Italy, BasicNet S.p.A. (BIT: BAN) mainly engages in the sector of branded leisurewear and sportswear, footwear and accessories with a collection of market-leading registered trademarks, including Kappa®, Robe di Kappa®, Jesus® Jeans, K-Way®, Superga®, Sabelt®, Briko® and Sebago®.

About China Dongxiang (Group) Co., Ltd. (Stock code: 3818)

China Dongxiang (Group) Co., Ltd. is a leading international sportswear brand enterprise in China which has been listed on the Main Board of the Hong Kong Stock Exchange since 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally renowned Kappa brand in China, Macau and Japan. On 1 May 2008, China Dongxiang completed the acquisition of Phenix, a Japanese sportswear enterprise. Phenix is the most popular ski brand in Japan with the largest market share, as well as a well-known brand in the international market.

 

Issued by Cornerstones Communications Ltd. on behalf of China Dongxiang (Group) Co., Ltd..

HA NOI, VIETNAM - Media OutReach - 31 July 2020 - While countries around the world are struggling with the COVID-19 pandemic, Vietnam is confidently dealing with new cases, keeping the situation under control, and is one of few nations recording positive growth in the first half of 2020.

Vietnam, now still one of the safest countries in the world and a favourite destination for investors, is striving to soon bring tourists back to its rich land and sea with eight World Heritage sites, 13 intangible cultural heritages and three Global Geoparks recognized by UNESCO.

Việt Nam News, the only national English language daily, is committed to providing an accurate and up-to-date insight into the country.

We have been always on hand for truthful, factual, complete and reliable information about Viet Nam and the world for almost 30 years.

In order to bring Việt Nam News closer to our valued readers, especially amid difficulties during the COVID-19 pandemic, when most of our geographic connections are hampered, we are proud to introduce our most recent product, the Vietnam News Daily application. All our printed issues are published in PDF format in the app, including the Việt Nam News Daily newspaper and Sunday Việt Nam News.

Our dear readers may access the app at the links below:

Apple's App Store: https://apps.apple.com/us/app/epaper-vietnam-news/id1511690781?l=it&ls=1

Google Play Store: https://play.google.com/store/apps/details?id=com.paperlit.android.vietnamnews2

About Viet Nam News:

From a national newspaper published by the Vietnam News Agency that was first available on the newsstands in 1991, Viet Nam News has extended its standing to a regional publication, and finally to a continental posture as a member of the prestigious Asian News Network comprising 21 publications in Asia. It can be said that Vietnam News is the most influential English language newspaper in Vietnam.

With steady development over almost thirty years, the newspaper is now a full-size, 28-page daily, in addition to a Sunday edition. We attract numerous foreign readers, from politicians, economists, investors and tourists, to overseas Vietnamese and other people interested in Vietnamese and regional lifestyle and culture.

Our printed newspaper provides comprehensive coverage of the latest domestic and international developments in all areas including politics, business, culture, and sports. It also carries commentary, analysis and reports on the environment, science and technology, lifestyle and key social issues. Sunday's edition of Việt Nam News features various aspects of Vietnamese culture, society and attractive tourist destinations.

Our other media channels are constantly evolving, giving readers the most up-to-date, reliable, and relevant news.

Our constantly updated website at https://vietnamnews.vn has drawn huge attention thanks to its comprehensive coverage of numerous sectors, from business, science, education, the arts and culture, to other social activities.

http://bizhub.vn provides readers with the latest news on companies, M&A activities, business laws, new products and commentary from industry insiders. We commit to providing the most reliable channel of business news and analysis on local issues, allowing users to exchange ideas and make valuable contacts in a variety of fields.

http://ovietnam.vn/ aims to provide readers with the country's latest developments in culture, fashion, travel and entertainment. We are also proud to present in-depth feature stories, thoroughly presented with historical and cultural background on various aspects of life in Việt Nam.

Our social media channels (Facebook, Youtube, Instagram, Twitter) cater to readers and followers of the next generation. Its extensive coverage, from Vietnamese cuisine to life in every corner of this beautiful land, all can be reached through the new app.

With Việt Nam News and its comprehensive channels, a world of information is at your fingertips.

Futurist sheds light on ‘new normal’ at E-Day seminar

 

HONG KONG, CHINA - Media OutReach - 30 July 2020 - Local
start-ups have been rising to the challenges presented by the COVID-19 pandemic
with agility and creativity. This year's HKTDC Entrepreneur Day (E-Day),
organised by the Hong Kong Trade
Development Council (HKTDC), underwent a transformation in terms of
format and content, with a series of seminars broadcast live on 16 and 17 July
giving start-ups valuable insights into finding a path forward during this
difficult time.

 

Running under the theme "Revive‧ Redefine",
the 2020 E-Day invited a high-powered panel of speakers to speak at 19
online seminars, offering insights into areas such as entrepreneurship,
regional opportunities and technological developments to equip start-ups for
future challenges. Virtual business matching sessions were
also arranged, connecting local start-ups with companies in Japan, Korea,
Thailand, Malaysia, Singapore and the United States to help them continue to capture
business opportunities amid the current economic adversity.

 

Renowned futurist Gerd Leonhard (Centre) addressed the
"T-Chat: Futurising Your Business: Renaissance from the Age of
Digitalisation" seminar

 

Insights into the future: four "bigs" and 10
"game changers"

Broadcasting from Switzerland, globally renowned
futurist Gerd Leonhard, CEO of The Futures Agency,shared in "T-Chat:
Futurising Your Business: Renaissance from the Age of Digitalisation"
the trends for entrepreneurship and opportunities for start-ups to thrive in
the "new normal". Mr Leonhard explained that there would not be a
post-COVID-19 return to normality, and that the new normal would be very
different.

 

The world is undergoing a Great Transformation, he said,
with four "bigs" playing a leading role -- Big Tech, Big Media, Big
State and Big Health. "Technology is everywhere. Without technology, we
wouldn't be working from home, we couldn't find new ways to address the crisis.
We couldn't analyse all the data. Without the AI (artificial intelligence), we
couldn't have early warning systems," Mr Leonhard said. He added that the
state helps to figure out how to restart the economy and to support the people,
and that healthcare is becoming the number one issue. "We are going to
have to put more money, more research into healthcare development and
biotechnology," he said, "We all are addicted to the media now because
we are at home. Big media is exploding. These four things together have huge
opportunities." The result, he said, would be "HellVen",
explaining it could be heaven or it could be hell, depending on how it is
handled.

 

The future presents utter uncertainty, Mr Leonhard posited.
Businesses needed to abandon traditional, pre-COVID ways of doing things and
adapt to the VUCA normal -- volatility, uncertainty, complexity and ambiguity.
He advised entrepreneurs to flip VUCA and turn around the threats of the
pandemic with "velocity, unorthodoxy, co-creation and awesomeness -- to
respond with speed and come up with new ideas, to work together, and to create
solutions that can make a difference."

 

Technologies are developing extremely fast, and the COVID-19
pandemic is accelerating this further. The crisis and technological potential
would drive extremely rapid and very disruptive change, he said, with more
progress over the next decade than the world had seen over the previous
century.

 

Mr Leonhard said 10 game-changers would shape developments
over the coming decade, with the COVID-19 pandemic accelerating the impetus for
change. The first game-changer would be "data everything" -- with
data as the "new oil", businesses need to have the numbers at hand to
go forward. "Lots of start-ups in Hong Kong and all over the world are
dealing with data," he said. This leads to the second game-changer --
"cloud everything", with vast amounts of data calling for copious
storage space. The next game-changer would be "connected everything"
-- through the Internet of Things (IoT) not just everyone but everything, be it
appliances or vehicles, will be connected through the internet.

 

Another game-changer would be "compute
everything", with quantum computers that are virtually unlimited in
computing power. The next game-changer is "understand anything",
whereby natural language processing will enable us to speak to machines as if
they were humans. "Smart everything" will see machine learning
greatly increasing the ability of machines and systems to adapt to change.
Transactions will join communications as a game-changer, as blockchain
technologies greatly expand the scope for, and reliability of, transactions.

 

Mr Leonhard said another game-changing development that will
have great relevance to anyone trading in goods is the distribution of
production. Improvements in the scope and quality of 3D printing mean items can
be produced anywhere. "We will be able to print anything, from our tennis
shoes to our wrist watches," he explained. Massive increases in the power
of media technologies will expand the scope of media offerings, enabling people
to "see everything" in the future through technologies such as
virtual reality -- and the current trend for working from home had given this a
big boost. Improvements in genetic engineering mean it will be possible to
"change anything" -- a development that has massive ethical
implications.

 

Panellists who appeared alongside Mr Leonhard at the seminar
included Karena Belin, CEO & Co-founder of WHub; Toa
Charm, Associate Professor, Business School, the Chinese University of
Hong Kong; and Herbert Chia, Venture Partner at Sequoia Capital
China. Mr Charm said that many Asian conglomerates rejected technological
innovation in the past, and it was only when faced with growing competition
that they began to open their doors to change. Referencing the current rapidly
transforming business environment, hesaid: "All Asian
conglomerates are opening up their doors to new technologies. They are
thinking: 'I don't know about this, but I need it because my shopping malls, my
hotels, my properties -- nobody goes there to buy now'. I think this presents a
golden opportunity for all of us -- start-ups and technology companies, and
enablers like incubators and accelerators."

 

In response to a question about leadership and how human
skills are becoming more valuable, Mr Chia, said: "At this
moment, when talking to a lot of CEOs in the field, I find there's a gap
between the knowledge they already have and the knowledge needed to translate a
business problem into a technology solution. Or, the other way round, where I
have a technology solution, but I don't know what to fix." He believes
successful leaders will be those who can bridge this gap and give their
companies a clear direction.

 

Agility and understanding social norms

At the "Revive‧Redefine" plenary
session, William Ip, Managing Director of Carousell Hong Kong,
and Crystal Pang, Co-founder of Pickupp, shared tips on
entrepreneurship and their personal experiences of turning creative ideas into
viable business ventures.

 

Mr Ip shared three tips with the audience: be agile, be a
good listener and keep your business alive. Quoting celebrated scientist
Stephen Hawking, who said that intelligence is the ability to adapt to change,
Mr Ip highlighted the importance of agility for start-ups and
entrepreneurs, especially in a challenging climate. He said that business
drivers will change, and that development teams must be ready to adapt.
"Being a start-up, we need to act very quickly and stay very close to the
market. Sometimes you make decisions that seems to be correct at the time, but
we also have to be prudent, agile, and humble -- if that decision doesn't turn
out to be the right decision, we need to change quickly," Mr Ip explained.

 

His second tip was to be a good listener.
Businesses have to listen to their target audience and address the needs of the
market segment, he said. As the retail sector has been hit hard by the COVID-19
pandemic, Carousell has been leveraging its platform to help small and
medium-sized enterprises get online and connect with more customers. Lastly, Mr
Ip said the most important goal for start-ups must be to stay alive as
a business. Enterprises need to prepare for an uncertain future and think
ahead to understand what the world will be like tomorrow.

 

Ms Pang offered insights into the classic question of how
both technology and understanding social normscan be used to
improve services. Customers want things cheap, flexible and traceable. She
noted that while it is now very inflexible to operate a traditional logistics
fleet, crowdsourcing was a viable option. "There is a lot of idle capacity
in the city, and a lot of people with downtime," she said. "Students,
maybe they work until 3pm then have four or five hours of downtime.
Semi-retirees, they are still very healthy and can run around and do
neighbourhood deliveries. Are we able to utilise them effectively, as long as
there is good technology to trace and do quality control?"

 

Ms Pang also explained how advanced computerised systems
were necessary when employing a more flexible and dynamic delivery system. For
Pickupp's platform, thousands of deliveries will go out at any given time, all
with different weights and dimensions, which need to be bundled together at the
lowest cost.

 

Creating happiness can lead to growth

Katherine Cheung, Chief Marketing Officer at online
education platform Snapask, shared on how the start-up has been able to grow
its business in a difficult environment at a seminar titled "From
Crisis to Chances: Unleashing Opportunities in Challenging Times". She
described online education as "hard to start, harder to win".

 

With the goal of offering the best online learning
experience, the Snapask team conducted in-depth research and ran numerous
surveys to identify what would make users happy. They found that an instant
experience and instant support were important for online learners, especially
during the COVID-19 pandemic. In response, the start-up made one small product
change, to move all the fast-responding and always-online tutors to every
single page possible whenever users log in so they can offer immediate support.
Ms Cheung said that faster matching of students and tutors has resulted in more
referrals and retentions, so "creating happiness means growth," she
said.

 

Photo download: https://bit.ly/334i18E

 

Photo 1: Running under the theme "Revive×Redefine", the 2020 E-Day invited a high-powered panel of speakers to speak at 19 online seminars

Photo 2: Renowned futurist Gerd Leonhard addressed the "T-Chat: Futurising Your Business: Renaissance from the Age of Digitalisation" seminar and was joined for the discussion by (from left) Karena Belin, CEO & Co-Founder of WHub, Toa Charm, Associate Professor, Business School, the Chinese University of Hong Kong, and Herbert Chia, Venture Partner at Sequoia Capital China

Photo 3: At the "Revive‧Redefine" plenary session, Crystal Pang, Co-founder of Pickupp, shared tips on entrepreneurship and their personal experiences of turning creative ideas into viable business ventures

Photo 4: Katherine Cheung, Chief Marketing Officer at Snapask, shared on how the start-up grows business in hard times during the "From Crisis to Chances: Unleashing Opportunities in Challenging Times" seminar

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

About HKTDC

The Hong
Kong Trade Development Council (HKTDC) is
a statutory body established in 1966 to promote, assist and develop Hong Kong's
trade. With 50 offices
globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a
two-way global investment and business hub. The HKTDC organises international
exhibitions, conferences and
business
missions to create business opportunities for
companies, particularly small and medium-sized enterprises (SMEs), in the
mainland and international markets. The HKTDC also provides up-to-date market insights
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HONG KONG, CHINA - Media OutReach - 30 July 2020 - Kerry
Logistics Network Limited ('Kerry Logistics'; Stock Code 0636.HK) has received
the "Most Honored Companies" accolade in Institutional
Investor's annual All-Asia Executive Team ranking for the fifth year
running, in addition to placing in the top three in six categories under the
Transportation sector.

 

Among the 41 companies in the
sector, Kerry Logistics and its key executives ranked in the top three in the
following categories, based on votes from buy-side
analysts, money managers, and sell-side researchers at securities firms and
financial institutions across the globe:

 

• Most Honored
  Company
• Best CEO --
  William Ma
• Best CFO --
  Ellis Cheng
• Best Investor
  Relations Professional -- Iris Tsang
• Best Investor
  Relations Team
• Best Investor
  Relations Program
• Best ESG SRI
  Metrics

 

William
Ma, Group Managing Director of Kerry Logistics, said, "We are delighted to be
honoured again for our dedicated efforts in maintaining a proactive investor
relations strategy. As the global pandemic brings disruptions and uncertainties
to our everyday lives, we believe it is more important than ever for us to
provide transparency and support bilateral communication with the investor
community. We place high priority in keeping our shareholders and investors
abreast of Kerry Logistics' latest corporate development, as well as our
resilience and adaptability to changing conditions. Once again, we would like
to thank Institutional Investor for
the recognition and reaffirm our commitment to upholding global standards and
adopting international best practices in investor relations."

 

Kerry
Logistics has been named one of the "Most Honored Companies" since 2016. The 2020
All-Asia Executive Team ranking was based on the votes from 1,921 portfolio managers and
buy-side analysts, and 611 sell-side analysts. For
the Best Investor Relations Program category, companies were evaluated on nine
performance attributes, namely, accessibility, strategy, IR team is well
informed, productivity of NDR/conferences/calls, responsiveness, business &
market knowledge, consistency & granularity, ESG information and
timeliness.

About Kerry Logistics Network Limited (Stock Code 0636.HK)

Kerry Logistics is an Asia-based, global 3PL
with the strongest network in Asia. Its core competency is providing highly
customised solutions to multinational corporations and international brands to
enhance their supply chain efficiency, reduce overall costs and improve
response time to market. Kerry Logistics has a network covering 55 countries
and territories, and is managing 75 million sq ft of land and logistics
facilities worldwide, providing customers with high reliability and flexibility
to support their expansion and long-term growth. Kerry Logistics Network
Limited is listed on the Main Board of the Hong Kong Stock Exchange and is a selected
Member of the Hang Seng Corporate Sustainability Index Series 2019-2020.

About Institutional Investor

Now entering its fifth decade,
Institutional Investor has
consistently distinguished itself among the world's foremost financial
publications with groundbreaking journalism and incisive writing that provides
essential intelligence for a global audience. In addition, Institutional Investor offers a host of proprietary research and
rankings that serve as respected industry benchmarks.

SINGAPORE / KUALA LUMPUR, MALAYSIA - Media OutReach - 30 July 2020 - Singapore's Fintech technology provider, Hashstacs Pte
Ltd ("STACS"), today announced
that it has partnered with Bursa Malaysia Berhad ("Bursa Malaysia") on a
Blockchain Proof-of-Concept ("POC") project dubbed "Project Harbour" for its
Bonds marketplace.

 

Project Harbour is centred around the usage of
Distributed Ledger Technology (" DLT") as a register in facilitating  the growth of Labuan's bond marketplace. The
project will take place in Malaysia's offshore market, Labuan, in collaboration
with the Labuan Financial Exchange (LFX), a wholly-owned subsidiary of Bursa
Malaysia.

 

Mr Benjamin Soh, Managing
Director of Hashstacs Pte Ltd, said: "Hashstacs will develop a blockchain
solution to issue, service, trade and clear bonds on the platform. The creation
of an industry wide ecosystem will allow for a complete solution in
origination, servicing, trading, clearing and settlement, allowing Malaysia to potentially
have the first mover advantage in attracting regional and international bond
listings."

 

Bursa Malaysia, alongside the
Securities Commission of Malaysia, Labuan Financial Services Authority, CIMB
Investment Bank Berhad, Maybank Investment Bank Berhad and China Construction
Bank Corporation Labuan Branch, will utilise the Trident Platform built by
Hashstacs to test and manage the end to end trade lifecycle management of
digital bonds. The blockchain based platform will facilitate issuances of
digital bonds seamlessly, while providing a single source of truth to maintain
the integrity of investors' holdings and track transactions. In addition, smart
contract technology automates the movement of funds and securities, amplifying
asset servicing and the provision of liquidity to market participants.

 

Datuk Muhamad Umar Swift,
Chief Executive Officer of Bursa Malaysia, said: "The Exchange closely follows
current trends in innovation and new technologies with a view to remaining
relevant in this competitive landscape. One of the ways to achieve this is
through collaborations with innovative companies. The POC conducted in
partnership with Hashstacs presents an opportunity to provide a valuable
learning experience to build knowledge and obtain insights that will allow us
to grow the bond marketplace. The POC aims to increase operational efficiency,
driving down the cost of operations as well as the cost of issuing bonds.  We will continue to tap into emerging
technological innovations to further develop the marketplace and improve the
effectiveness and accessibility of the Exchange"

 

Project Harbour is aimed at exploring
and harnessing the opportunities enabled by blockchain and tokenisation of
assets. The creation of a blockchain powered infrastructure will provide a
single source of information that is kept in a shared distributed database
between Bursa Malaysia and participating banks, providing a registry of
ownership and reducing counterparty risks and reconciliation costs.

 

"Hashstacs has
established a good track record in the capital markets blockchain space over
the past year. The Trident Platform, powered by the STACS Blockchain and
Settlity Infrastructure, is an enterprise grade, end-to-end blockchain solution
designed for capital markets requirements. We are delighted to have an
established institution of Bursa Malaysia's standing use our Settlity
Infrastructure and STACS Blockchain, which is a testament to our state of
having production-ready solutions." added Mr Soh.

About Bursa Malaysia

Bursa
Malaysia is an exchange holding company incorporated in 1976 and listed in
2005, and is the national stock exchange of Malaysia. One of the largest
bourses in ASEAN, Bursa Malaysia helps over 900 companies raise capital across
50 economic activities -- whether through the Main Market for established
large-cap companies, the ACE Market for emerging companies of all sizes, or the
LEAP Market for up-and-coming SME companies.

About Hashstacs Pte Ltd

Hashstacs is a Singapore
fintech development firm focusing on the digital transformation of the
financial industry. Its vision is to be the underlying Distributed Ledger
Technology on which Financial Market Infrastructure is built upon. For more
information, visit https://stacs.io/

The Settlity Infrastructure
is a next generation blockchain Infrastructure-As-A-Service platform that
allows financial institutions to manage and trade digital financial assets
simply. The Settlity Infrastructure is powered by the Securities Trading Asset
Clearing and Settlement (STACS) Blockchain, a blockchain built specifically for
the capital markets. For more information, visit https://settlity.com/

HONG KONG, CHINA - Media OutReach
- 30 July 2020 - Crowdfunding, which has seen its popularity skyrocket with the rise of high profile platforms the likes
of Kickstarter, GoFundMe and IndieGoGo, has often been hailed as a "democratising
force" in finance, allowing enterprising individuals to launch new and
innovative ventures while bypassing traditional sources of funding they would
otherwise be unable to access. In a recent report, the global crowdfunding
market was valued at US$10.2 billion in 2018 and was forecast to almost triple
by 2025. Clearly, crowdfunding has hit mainstream, but has it lived up to its
promise to give entrepreneurs of all stripes and sorts easier access to
capital?

 

According to a
new research study conducted at The Chinese University of Hong Kong (CUHK),
entitled Crowdfunding and the Democratization of Access to Capital --
An Illusion? Evidence from Housing Prices, the answer is a qualified yes.

 

Conducted by Keongtae Kim, Assistant Professor in the Department of Decision Sciences
and Managerial Economics at CUHK Business School; and Prof. Il-Horn Hann at the
University of Maryland, the study analysed the track record of crowdfunding and
found evidence that pointed to its potential to level the fundraising playing
field for entrepreneurs. However, this result came crouched in an important
caveat -- it found that people who lived in areas with lower levels of income
and education were less able to take advantage of it to launch projects.

 

The study arrived
at this conclusion by focusing on one of the most important types of credit for
entrepreneurs -- bank financing through housing collateral, looking at how
accessibility to these loans related to crowdfunding by entrepreneurs. Prior
studies had already shown that housing wealth can ease credit constraints for
entrepreneurs, making it a primary factor in financing new ventures.

 

The researchers
obtained data on housing prices and matched this with a data set from
crowdfunding platform Kickstarter. They focused on local housing prices as a
proxy for collateral-based credit availability for entrepreneurs in a local
market. If entrepreneurs living in areas with declining housing prices have an
increasing degree of difficulty in raising sufficient capital, they may be
inclined to use crowdfunding as an additional funding source.

 

The professors
focused on technology-based projects in the technology and games categories,
obtaining data covering April 2009 through December 2013 and accounting for
9,120 projects that attracted more than US$257 million in pledges from
approximately 3.4 million contributors.

Impact of Housing Prices

"We found
that tightened credit constraints imposed because of declines in local housing
prices led to increased use of crowdfunding. This finding supported the idea
that crowdfunding serves as a supplement to traditional sources of financing,"
says Prof. Kim.

 

"We also observed
that a decline in housing prices led to even more people turning to
crowdfunding in areas with a large share of homeowners and in states with
unlimited homestead exemptions," he adds. Homestead exemptions are legal
provisions that shield homeowners from partial or full seizure of their
properties in the event of a default, and previous studies have shown that
banks are less willing to lend to individuals in states with high or even
unlimited homestead exemptions.

 

"Our
research indicated that crowdfunding can serve as an addition to traditional
financial sources, implying that online crowdfunding has the potential to
democratize access to finance in the sense that it can be an option for
entrepreneurs who have difficulty accessing traditional funding," Prof.
Kim says.

 

The researchers
did not find a link between a fall in housing prices and whether a crowdfunding
project was successful or not.

 

However, they
also found a stark contrast in the ability to access capital using crowdfunding
between the wealthier and the poor. Specifically, they observed that a decrease
in housing prices led to an increase in successful crowdfunding projects
primarily for areas in high socio-economic status and an increase in
unsuccessful projects primarily for areas of low socio-economic status.

 

"Although
entrepreneurs from areas of low socio-economic conditions have at least equal
access to online crowdfunding, they may still suffer from lower demand for
their projects. This may be partly because of less support of their social
networks," Prof. Kim says.

 

"The role of
access to financing is essential as difficult access discourages
entrepreneurship, as measured by self-employment surveys and census data, and
entrepreneurship is very important," he adds.

 

In the U.S. alone,
small businesses employ more than 50% of the private sector workforce and
account for 66% of all net job creation. Most jobs are created by young,
typically small businesses. High-growth start-ups contribute significantly to
job creation in the U.S. economy.

 

Leveling the Crowdfunding Playing Field

Crowdfunding has
the potential to offset a decrease in entrepreneurship. "However,
entrepreneurs need to be strategic in seeking funding from sources that may be
favourable to them," cautions Prof. Kim

 

The study showed
that while decreasing housing prices made banks reduce credit supply to
entrepreneurs in need, crowdfunders were still willing to back them. "Entrepreneurs
living in disadvantaged areas should exploit crowdfunding aggressively and
attempt to build upon their social networks or improve their projects for
successful funding," he says.

 

"To help
entrepreneurs from disadvantaged areas in achieving real economic benefits from
crowdfunding, we must understand its underlying mechanisms," says Prof.
Kim.

He advises that
policymakers should seek to implement policies to help entrepreneurs from areas
of low socio-economic status to obtain sufficient resources to raise money from
online crowdfunding successfully.

 

A shortfall of
their research, he concedes, was that though their ad hoc analysis suggests
that social networks play a considerable role in the socio-economic divide,
they could not explore this in a meaningful way due to data limitation.

 

According to the
professor, another limitation was that their study focused only on
technology-intensive projects, meaning that they have a limited ability to
discuss crowdfunding in other types of projects.

 

"Although we
recognise that bank financing and crowdfunding offer different funding
conditions in terms of funding duration, success rates of funding, interest
charges, and so on, the two channels considerably overlap," concludes
Prof. Kim, adding that a significant number of creators are potentially able to
use both channels and choose the optimal combination that offers the best terms
and conditions.

 

Reference:

Keongtae Kim,
Il-Horn Hann (2019) Crowdfunding and the Democratization of Access to Capital --
An Illusion? Evidence from Housing Prices. Information Systems Research
30(1):276-290. https://doi.org/10.1287/isre.2018.0802

 

This article was first published in
the China Business Knowledge (CBK) website by CUHK Business School: https://bit.ly/3hcehWv.

About CUHK Business School

CUHK Business School comprises two schools -- Accountancy
and Hotel and Tourism Management -- and four departments --
Decision Sciences and Managerial Economics,
Finance, Management and Marketing. Established in Hong
Kong in 1963, it is the first business school to offer BBA, MBA and Executive
MBA programmes in the region. Today, the School
offers 11 undergraduate programmes and 20
graduate programmes including MBA, EMBA,
Master, MSc, MPhil and Ph.D.

 

In the Financial Times Global
MBA Ranking 2020, CUHK MBA
is ranked 50^th. In FT's
2019 EMBA ranking, CUHK EMBA is
ranked 24^th in the world. CUHK Business School has the largest
number of business alumni (37,000+) among
universities/business schools in Hong Kong -- many of
whom are key business leaders. The School currently has about
4,800 undergraduate and postgraduate students and Professor Lin Zhou is the Dean of
CUHK Business School.

 

More information is available at http://www.bschool.cuhk.edu.hk or by connecting with CUHK Business School
on:

Facebook: www.facebook.com/cuhkbschool

Instagram: www.instagram.com/cuhkbusinessschool

LinkedIn: http://www.linkedin.com/school/cuhkbusinessschool

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