Category: Business

SINGAPORE - Media
OutReach - 10 June
2020 - Awfully Chocolate continues to
uplift national morale as it prepares for a new wave of orders coinciding with
Father's Day in Singapore. This comes at a time when COVID-19 measures
gradually ease, allowing food and beverage establishments to slowly bring life
back to their physical stores. Despite having 14 stores across the country, Awfully Chocolate's
strong e-commerce presence will play a critical driver for sales as the nation
moves back to normalcy.

 

E-commerce, delivery
and digital marketing as retail focus

 

The surge in online demand for Awfully Chocolate
had already begun early this year as e-commerce sales of birthday cakes, handmade
cookies and other gourmet treats doubled in the lead-up to
Valentine's Day. Founder Lyn Lee expects
to see Father's Day orders to bring a similar boost to online delivery for its
cakes and pastries. Online orders typically generate 10 per cent of sales
monthly during non-peak periods.

 

In times where digitalisation emerges as a key
economic driver, businesses like Awfully Chocolate must diversify and adapt to
growing trends to remain afloat. This signals the importance of omnichannel
retail solutions as a long-term business strategy not only to drive more sales
but also remain operational despite affected footfall at physical stores.

 

Investing more in multi-platform digital marketing
campaigns has thus become imperative as Awfully Chocolate focuses on online
ordering and cake delivery across Singapore. Currently engaged with digital marketing agency in Singapore, First Page Digital, whose efforts seen a
overwhelming increase in sales since last year, the team continues to improve
visibility and relevance in the competitive food delivery scene.

 

This was done by making their well-loved dark
chocolate desserts available to all its fans via their 24/7 online shop. Cakes are delivered in AC thermal
bags to preserve their quality so that customers can enjoy the same dessert
experience at home as they would at the store. Those who wish to make
last-minute Father's Day gift purchases can order any time and have them sent
the next day to any local
address. This allows
the bakery to offer a sweet relief to Singaporeans as customers can still
purchase desserts for themselves or send gift sets to loved ones.

 

As families get to meet one another after social
distancing measures ease, Lyn says that the team is excited to deliver its
well-loved desserts to sweeten Father's Day celebrations all over Singapore.

About Awfully Chocolate:

Awfully Chocolate is a home-grown brand
specialising in handcrafted dark chocolate cakes for all occasions, from
birthdays to anniversaries. It has also expanded its finesse to offer premium
chocolate bars, truffles and handmade cookies, which are also available in gift
sets and hampers. For more information, please visit: https://www.awfullychocolate.com/

Accredited Coach Training Program (“ACTP”) provides aspiring coaches with a streamlined pathway for professional certification by the International Coach Federation

 

SINGAPORE - Media
OutReach - 10 June 2020 - Collective Change Institute (CCI)
announced today that it has launched the Complete Coach Development Program
(CCD), an Accredited Coach Training Program (ACTP) approved by the
International Coach Federation (ICF). The CCD program offers students a
streamlined route to obtaining their professional coach certification from ICF
with the assurance of the highest standards of quality in coach training. ICF
is the leading global organization dedicated to advancing the coaching
profession.

 

The launch of the program also celebrates the recognition of
CCI receiving its ACTP status from ICF. "Being recognized by ICF as an
ACTP coach training institute is a testament to CCI's commitment in ensuring a high
level of quality in coach training standards," said Lin Tan, Director of Training
at CCI and a Master Certified Coach credentialed by the ICF. Ms. Tan is
currently the president of ICF Singapore Chapter and sits on the Forbes Council
of Coaches.

 

Led by Ms. Tan, the CCD Program is a holistic and
comprehensive 15-month coach training program that offers students
coach-training hours, mentoring, observed coaching sessions and a final
competency assessment. It helps coaches achieve an ICF ACC or PCC credential
directly with CCI, offering coaches a convenient and trusted route to certification.
The CCD program also offers bridging options for students from other schools or
certification pathways. It comprises two parts: a 60-hour Professional Coach
Development Program that focuses on establishing the fundamentals of coaching
and a 67-hour Advanced Coach Development Program that focuses on developing the
mastery of coaching of the coach.

 

CCD is one of the only coach training programs in the region
that gives students the opportunity to work with real clients as part of their
coach development. This initiative greatly helps students to clock coaching
hours and gain experience, which is one of the pre-requisites to obtaining
coach certification. "The opportunity to work with real clients was one
of the key differentiators of CCI. By working with real clients, I was able to
apply my knowledge and that gave me tremendous confidence during the
program," said Arundhati, a graduate of CCI and an ICF Associate
Credentialed Coach. 

The program offers an integrated blended learning format which includes
face-to-face weekend intensives, live webinar classrooms, face-to-face
coaching, in-person mentoring sessions and self-work. CCD lead trainers have at
least 10 years of coach training experience and possess the equivalent
credentials of an ICF Professional Certified Coach or Master Certified Coach.

 

The coach certification journey does not end at graduation
from the CCD program. CCD alumni become part of a thriving coach community
dedicated to developing coaching mastery and successful coaching businesses.
CCI offers life beyond coach training, with opportunities including
professional life or executive coaching opportunities, or joining CCI's faculty
team as a coach trainer.

About Collective Change Institute

Collective Change Institute (CCI), an ICF-approved ACTP coach training school,
is Asia's
leading coaching institute. It offers all-round coach development for
individuals and corporates through coach
certification, business mastery development and community initiatives. CCI
offers a wide range of coaching-related programs and services for individuals,
corporates and coaches. These include coach certification programs, coach
training for managers, executive coaching services, personal coaching services
and business accelerators for coaches.

 

For more information on CCI, please visit www.collectivechangeinstitute.com

 

ZUG,
SWITZERLAND - Media OutReach -
10 June 2020 - Recent years
have seen countries continuously research and explore new information technologies such as big data, blockchain, and
artificial intelligence. However, marketing and integration of these have become a problem in many countries.

International institution Cordata Academy
(International Blockchain Lab) is a non-profit subsidiary of Cordata
Association that's committed to exploring these new technologies (big data,
blockchain and artificial intelligence), proposing solutions for cross-chain
issues involving blockchain.

Chaired by Mr. Urs Bolt, the mission of
Cordata Academy (International Blockchain Laboratory) is to transform research
into innovative applications that help small and medium enterprises (SMEs)
overcome the challenges of digital transformation through the application of
big data, blockchain, artificial intelligence, and other related technologies.

The academy's research focuses on areas such
as safe and efficient cross-chain technology, next-generation consensus
algorithms, multi-party secure computing, homomorphic encryption technology,
secure data sharing, and edge computing in the finance, supply chain, smart
city, and e-commerce markets.

"We realize the development of new technologies such as big data, blockchain
and AI is very important, governments and the public are actually very
concerned about these new technologies. They value them and fear them at the
same time. Take blockchain for example, governments of all countries are
actively deploying this technology, but what's happening now is a "balkanization".
"Balkanization" means that we have many blockchain ecosystems running
on their own islands, and there is no data communication with compatible
communication protocols or standards. Hence the need for "cross-chain
technology"."- Urs Bolt

Most current blockchain projects are isolated
within their own varied ecosystems, hash algorithms, consensus mechanisms,
communities, etc. Mr. Bolt believes it is necessary to connect the current
fragmented blockchain systems to transfer information and business value
between the various blockchains; If each blockchain project can break the
"isolated" state and synchronize with each other, it will rapidly
accelerate growth for these projects.

In order to solve this problem, research and
development into providing faster, safer and more convenient cross-chain
technical and business solutions are needed for consortium chains. Ideally, the
development of a "cross-chain hub" with supporting mechanisms for the
exchange of different encrypted token values will bridge different blockchain
ecosystems so they may leverage on each other's user traffic. Our collaboration
with WOLOT Foundation of Singapore focuses on this aspect.

About the team behind Cordata

The Cordata team consists of industry experts
and top scholars in finance, big data, artificial intelligence, blockchain, and
internet security from Switzerland, the United States, China, and Singapore.
This includes Dr. Patrick Schueffel and Dr. Dietmar Peetz. In regards to Mr.
Urs Bolt, the global speaker has 30+ years' experience in wealth management,
investment banking and related technology businesses. His core expertise is to
develop and roll out new digital business platforms and is recognized as a
global opinion leader in wealth management, WealthTech, digital assets.  He is also a member of advisory boards and
jury panels including the FT PWM WealthTech Awards, Global Wealth &
Society, and the WealthBriefing Private Banking Swiss Awards.

Cooperative partners

Coinic Technology, IBD Technologies, WOLOT
Foundation, Coco Web.

 

The academy is currently looking for top
academic talents in the fields of artificial intelligence, blockchain and big
data analysis to join them.

Accelerates Digital Transformation by Simplifying Business Processes Through Unifying Organization Data

 

SINGAPORE
- Media OutReach - 10
June 2020 - Fuji Xerox Asia Pacific announced today
its partnership with M-Files,
a global leader in Intelligent Information Management
(IIM), unveiling a new digital business solution for companies in the
Asia-Pacific (APAC) region that features automated workflows
together with intuitive information management and compliance support that is deployable
in the cloud, on-premise or both.

M-Files incorporates
cutting-edge technologies, such as artificial intelligence (AI), that accelerate
digital business transformation, breaking down information silos across applications
and repositories, and connecting people across business groups, functions and
locations to create borderless workspaces. The platform allows information to
be shared, modified and accessed securely with ease, enhancing collaboration
and productivity. As a result, the M-Files AI-powered information management
solution perfectly fits into Fuji Xerox's portfolio of business process
solutions, making it possible for Fuji Xerox customers
to benefit from modern cloud services with instant cloud readiness to support
future-proof operations, while also leveraging existing on-premises
infrastructure if they choose to keep sensitive data behind firewalls.

"The
M-Files and Fuji Xerox strategic alliance is a powerful combination given our
collective market leadership and deep experience delivering innovative
enterprise solutions," said Scott Erickson, Senior Vice President, Worldwide
Channel Sales, M-Files. "Together with Fuji
Xerox, we bring intelligent information management solutions across the APAC
region using a cloud-ready business model that supports today's pressing need
for flexible and remote work environments."

Businesses looking to improve their information management
capabilities can enjoy these benefits:

1.      
A hybrid cloud offering with a subscription-based
model supporting both on-premises and cloud deployments, allowing customers to
leverage the cloud in a phased and targeted manner, while also providing network
security and data encryption protection.

2.      
No upfront Capital Expense (CAPEX) investments
required, allowing for faster return-on-investment (ROI).

3.      
Enhanced
cloud security with global-scale infrastructure and full service organisation control
(SOC) compliance offering robust security protocols, such as access control,
audit trails, federated authentication, enterprise file encryption in transit
and at rest, intrusion detection, data loss prevention and high availability.

4.      
Advanced AI features intelligently tag, search and organize
content with metadata based on what the content is, not where it is stored.
Users can connect existing repositories and systems, such as network folders
and SharePoint, and access information "in-place" through a single
view, without costly data migration. Automated workflow capabilities help users
eliminate manual tasks and streamline time-consuming business processes, reducing
errors and improving quality while freeing up man hours for employees to
undertake more complex and value-added business-essential tasks.

"Once again, Fuji Xerox is showing our commitment to
customers by helping them manage their multiple, fragmented repositories and enterprise
content management (ECM) systems, reduce their reliance on manual processes,
and reap results and benefits," said Amane Inoue, Corporate Vice President and
Executive General Manager, Advanced Industrial Services Business Group, Fuji
Xerox Co., Ltd. "With M-Files, we are positioned to support our customers in
their transition to the new 'normal' workplace, with added emphasis on remote
working and collaboration, where the need for a flexible, robust content
management system is greater than ever."

Recent global trends and events, including the
COVID-19 pandemic, have drastically changed the way businesses operate. This
sentiment was reflected in a Gallup poll, where more than half of the surveyed
at-home workers indicated their preference to continue working remotely as much
as possible even after business restrictions are lifted[1]. This shift in mindset
from both employees and executives means that businesses need to actively make
adjustments, allowing employees to work remotely as part of the "new normal"
for workplaces.

About Fuji Xerox

Founded in 1962, Fuji Xerox Co., Ltd. is
a leading company in offering smarter ways to work with its document-related
solutions and services, as well as with the world-class office multifunction
devices, printers and production printers that we develop and manufacture for
worldwide distribution. Fuji Xerox is a wholly owned subsidiary of FUJIFILM
Holdings Corporation with direct sales force covering Japan and the
Asia-Pacific region including China. As a U.S. 10 billion dollar enterprise, we
employ approximately 40,000 people globally, with more than 80 domestic and
overseas affiliates / sales subsidiaries. On April 1, 2021, Fuji Xerox will
change its corporate name to FUJIFILM Business Innovation Corp. Fuji Xerox Asia
Pacific is the subsidiary of Fuji Xerox overseeing sales operations in the
Asia-Pacific region.

http://www.fujixerox.com

About M-Files Corporation

M-Files provides a
next-generation intelligent information management platform that improves
business performance by helping people find and use information more
effectively. Unlike traditional enterprise content management (ECM) systems or
content services platforms, M-Files unifies systems, data and content across
the organization without disturbing existing systems and processes or requiring
data migration. Using artificial intelligence (AI) technologies in its unique
Intelligent Metadata Layer, M-Files breaks down silos by delivering an
in-context experience for accessing and leveraging information that resides in
any system and repository, including network folders, SharePoint, file-sharing
services, ECM systems, CRM, ERP, and other business systems and repositories.
Thousands of organizations in more than 100 countries use M-Files for managing
their business information and processes, including NBC Universal, OMV, Valmet,
Rovio, SAS Institute and thyssenkrupp. For more information, visit www.m-files.com.

• Xerox, Xerox and Design, as well as Fuji Xerox and Design are registered
  trademarks or trademarks of Xerox Corporation in Japan and/or other countries.
• The
  services and product names specified in this press release are registered
  trademarks or trademarks of the respective companies.
• M-Files is a registered trademark of M-Files Corporation. All other
  registered trademarks belong to their respective owners.

HONG
KONG, CHINA - Media OutReach - 10 June 2020 - Black Spade Capital
Limited ("Black Spade Capital"), a family office
managing the private investments of Mr. Lawrence Ho, Chairman and Chief Executive
of Melco International Development Limited, has announced it has invested and
held shares in My Platform, a medical IT services platform.

 

Founded in Hong Kong as a
start-up, My Platform was launched as a brand-new medical management system by marrying IT
with the concept of smart medical care. The result is a one-stop resources
sharing platform with real-time access that connects the many stakeholders in
the traditional healthcare ecosystem. The enormous growth potential of My
Platform has attracted various investors, among them Black Spade Capital, whose
investment affirms the value of My Platform.

 

Since its establishment
in 2016, My Platform has been focusing on developing a simple and easy-to-use
interface. With user experience in mind, the system allows users to master the
clinic operating system in a short period of time. Be it a doctor, a medical
group, an insurance company, a patient or the human resources department in an
organization, users of My Platform can make use of the one-stop data management
service to run analysis of different workflow from outpatient consultation to
insurance claim. By constantly adding and customising system functionalities,
not only does My Platform enhance user safety and operational efficiency, but it
also saves time for performing
diagnosis by doctors
and healthcare practitioners. In response to the inconvenience and
negative impact brought by the epidemic, My Platform has since been strengthening its service offerings and developing remote
consultation services ("Telemedicine
Services").

 

My
Platform is one of the participating service providers under the D-Biz
Programme launched by the Hong Kong SAR Government. It is committed to
promoting a paperless medical work environment by transferring medical records
and insurance information to cloud platform, thus allowing clinics to share
resources. My Platform places great emphasis on data security so that users
need not worry about any loss caused by computer malfunctioning. To shorten
the lengthy process for medical insurance claims, My Platform
enables doctors to directly connect with insurance companies such that both
parties can choose their partners freely. By allowing real-time review and
follow-up on claim status, the entire process becomes
more transparent and the time lag from lodging a claim application to getting
insurance compensation reduces significantly.

 

My
Platform boasts a mature operation system which is recognized and appreciated
by many doctors. In 2018, the well-known medical group Virtus Medical (managed
by Dr Manson Fok, son of the late Mr. Henry Fok Ying-Tung, a vice chairman of
the Chinese People's Political Consultative Conference (CPPCC)) took the lead
to adopt the operation system of My Platform. At present, the system developed by My Platform is serving
hundreds of general clinics, specialist clinics and radiology & imaging
diagnostic centres in Hong Kong. It has also been adopted by reputable
practitioners at Central Building, Hing Wai Building, Entertainment Building
and the 15-storey Virtus Medical Tower (where the operation system of My Platform is adopted by practitioners in the entire building)
in the Central district, as well as H Zentre (newly opened last year) and Hong
Kong Pacific Center in Tsim Sha Tsui. In addition, the system of My Platform is
also adopted by iRAD, one of the largest radiology & imaging diagnostic groups
in Hong Kong, which further boosts the brand
recognition of My Platform
in
the sector.

 

To
date, the operation of My Platform has expanded to first-tier cities in the Mainland
China such as Beijing and Shenzhen. With the support of the business
development centre in Guangzhou, My Platform is capable of seizing business
opportunities in mainland cities and providing a quality management system to
local high-end clinics. Looking to the future, My Platform will strive to roll
out its service to different cities in China to make its service portfolio more
accessible to all stakeholders.

Photo Caption

Mr. Jesse Ho, CEO
of My Platform

About Black Spade Capital Limited

Black Spade
Capital Limited is an established family office managing the private
investments of Mr. Lawrence Ho. Headquartered in Hong Kong, its global
portfolio consists of a wide spectrum of cross-border investments as it
consistently seeks to add new projects and opportunities to its investment mix.
Black Spade's investment strategy maximizes coverage of geographic regions and
sectors whilst maintaining a portfolio of diversified asset classes, ranging
from equity, fixed income, medical technology, leisure and culture, green
energy, real estate to Pre-IPO investments.

Atradius Payment Practices Barometer highlights importance of risk management to Asian businesses

 

HONG KONG, CHINA - Media OutReach - 10 June 2020 - As global recession looms, Asian businesses tighten their credit management processes in a bid to minimise bad debt risks.  

COVID-19 containment measures around the world have impacted both national and international supply chains and trade. Responses to the 2020 Atradius Payment Practices Barometer (PPB) survey in Asia suggest the resulting delays in payments are largely being financed by suppliers as the use of trade credit in most markets surveyed, and along with it, payment delays, have climbed. Compared to last year's survey, in four of the markets surveyed, credit-based sales grew by an average of 14% while at the same time the percentage of overdue invoices increased by an average of 56%. In India and Singapore where credit sales fell, overdue invoices still surged by 69% and 29% respectively. India's decline in credit use might even be the result of its dramatic rise in overdues.

Andreas Tesch, Chief Market Officer of Atradius, said: "With the global economy dipping into recession payment default risks are growing. We expect bad debts and insolvencies to continue rising into 2021. Suppliers need to manage reduced demand and financial stress. Minimising these burdens with thorough credit worthiness assessments and ensuring adequate financial sustainability will be key to survival for many of these businesses."

Although the Atradius PPB survey indicates a varied approach to trade credit across the region with marked differences between markets, it also reveals a consistent commitment to credit control. Without exception, businesses in every market expressed their dedication to credit management processes, with many seeking to increase their focus on minimising risk.

Interestingly, despite the gloomy outlook, most of the businesses surveyed across Asia expressed optimism that government support or bank finance would be available to help support their industries and the economy. While this may be true to a certain extent, the results of the PPB survey indicate that many buyers rely on trade credit from their suppliers to finance their operations, and extend that even more by delaying payment of invoices.

This survey was carried out in March 2020, at a relatively early stage in the Covid-19 pandemic and ensuing economic crisis. It represents an important snapshot of business confidence in Q1 2020. Looking forward, it will provide valuable information about the developing payment practices for this key economic region during the early days of the unfolding crisis.

The 2020 Atradius Payment Practices Barometer for Asia was conducted in China, Hong Kong, India, Indonesia, Singapore, Taiwan, and the United Arab Emirates (UAE), this latter featured in the survey for the first time. The reports can be downloaded from the Atradius Hong Kong website at https://atradius.com.hk/en/publication (Publications section).

About Atradius

Atradius is a global provider of credit insurance, surety and collection services, with a strategic presence in over 50 countries. The credit insurance, bond and collection products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of Grupo Catalana Occidente (GCO.MC), one of the largest insurers in Spain and one of the largest credit insurers in the world. You can find more information online at www.atradius.com.hk

Connect with Atradius on Social Media

Twitter 

https://twitter.com/atradius

LinkedIn

https://linkedin.com/company/atradiusasia

YouTube 

https://www.youtube.com/user/atradiusgroup

Arrow Open Lab to offer free engineering consultations to help develop 5G-ready and AI-powered edge devices

 

HONG
KONG, CHINA - Media OutReach - 9 June 2020 - Global technology-solutions provider Arrow
Electronics, Inc. today announced it will offer free consultations to local technology
startups and the innovation community at its Arrow Open Lab located at Hong
Kong Science Park.  The initiative is part
of Arrow's commitment to supporting technology enterprises, startups, and the academic
community to create, make and manage 5G-ready and AI-powered edge and endpoint devices
for commercialization or R&D development. 
Millions of AI-powered IoT edge or endpoint devices being deployed on 5G
networks will profoundly change the way we live, do business and interact with
each other and the environment^[1].  

Arrow Electronics, HKSTP and CUHK Institute of Network Coding co-host "Sensor & 5G Technology Revolution" webinar

"We established our first Open Lab in Hong
Kong as part of our long-term commitment to give local technology companies as
well as the university community access to world-class engineering expertise
and resources," said Simon Yu, president of Arrow's Asia-Pacific
components business.  "I am delighted to welcome
technology innovators, developers, and academia to our free engineering
consultations at Arrow Open Lab so they can gain the necessary advice and resources
to commercialize their innovative ideas into business opportunities in the 5G
and AI era."

The free consultations
aim to help technology companies configure the electronic system architecture
design of their edge endpoints/devices for delivering optimal results across 5G
networks and AI technology.  Arrow's
engineers and technical experts will provide insights and recommendations across
the development roadmap including:

• Selecting the system architecture with the most desirable and
  power-efficient computing for running AI algorithm (CPU vs FPGA vs GPU vs ASIC)
• Integrating a massive network of AI-powered sensors to yield actionable
  data insights
• Understanding 5G-specific protocol performance validation and standard
  and regulation compliance
• Formulating end-to-end security strategy with bi-directional network and
  node authentication to ensure secured access of data

To help the local engineering
and innovation community navigate their path to adopting emerging technologies,
Arrow has co-organized a webinar from June 9-11, 2020 in conjunction with Hong
Kong Science and Technology Parks Corporation (HKSTP) and The Chinese
University of Hong Kong (CUHK), to discuss opportunities and challenges associated
with the convergency of 5G, AI, IoT technologies (Link).

"HKSTP works with many
partners to enable the I&T ecosystem. 
We thank Arrow, being one of the incredible partners, for its long-term
support for accelerating the innovative journey of technology companies and
universities in Hong Kong with us. The Arrow Open Lab has a track record of
helping high-growth companies leverage the power of AIoT and 5G. Now, with free
consultations available, it is exciting to see Arrow's expertise being
delivered to a wider audience, helping startups at Science Park and beyond to
expand the possibilities of innovation," said Ir Peter Yeung, head of
Electronics/ICT Clusters & Smart City Platform of HKSTP.

Arrow's engineers at Open Lab worked closely with CUHK's Embedded AI and IoT
Lab team to launch the first healthcare monitoring proof-of-concept design incorporating Analog
Devices' 3D time-of-flight technology. This demonstrates a successful commercial
application of AI and deep-learning technologies.

Arrow Open Lab has assisted hundreds of
technology companies and startups from the region in their idea-to-prototype-to-product
innovation journey.  The free
consultation will be open to registered members, and available at the Arrow
Open Lab until the end of this year. 
Contact openlab.hk@arrowasia.com
or visit this
site for more information.

About Arrow Electronics

Arrow
Electronics (NYSE:ARW) guides innovation forward for over 175,000 leading
technology manufacturers and service providers. With 2019 sales of $29 billion,
Arrow develops technology solutions that improve business and daily life.  Learn more at www.fiveyearsout.com.

Physical classrooms across
Asia, like this Japanese High School, were recreated online during the onset of
COVID-19

 

SINGAPORE - Media OutReach - 9 June 2020 - Since the
onset of the pandemic early this year, education ministries across Asia have
pushed for mass migrations online, with the help of  Microsoft Teams,
Office 365 and Microsoft Azure, enabling millions of students to continue to
learn from home. Beyond ensuring lesson continuity, schools have been
facilitating real-time interactivity between teachers and students in class
while enabling students to discover, create and share.

 

Widespread shift to remote learning

Finding and deploying the right tools
quickly was instrumental in managing the seismic shift in the education
landscape caused by the COVID-19 pandemic.

 

In Vietnam, the Ministry of
Education and Training deployed Microsoft Teams in a record time of 27
hours for more than 200 schools in Hai Phong city. In over 2 months,
Teams was successfully adopted for more than 3.3 million teachers and students
from primary and secondary schools, high schools and institutes of higher
learning across the country.

Similarly, the Tokyo Metropolitan
Board of Education adopted Microsoft Teams and Microsoft 365 Education to create
a conducive and interactive environment online. This was launched in early May for
more than 160,000 students and 20,000 teachers across 253 Tokyo Metropolitan
high schools, special needs schools and other schools administered by the Board
of Education.

 

Educational institutions were also pressed to re-create the physical
classroom experience. In Taiwan, the Ministry of Education (MoE)
enabled 2.5 million students and 200,000 teachers from grade schools to
universities to learn remotely using free Office 365 and Microsoft Teams accounts
tied to their National IDs. The fusion of Office 365 apps and Teams allowed for
seamless sharing of presentations and documents, while other apps like Microsoft
Whiteboard for Windows 10 facilitated productive remote discussions in
real-time. Online lessons were recorded and stored automatically in Office
365's video service Microsoft Stream for students to review at their own time.

 

Dr.
Huan-Chao Keh, President of Tamkang University in Taiwan, said, "In light of
the number of students affected by the travel restrictions, we were quick to
implement several precautionary and mitigation measures. With our IT staff and
the Microsoft team working around the clock to make the course content
available for the instructors, as well as the strong support of all the faculty
members, we are confident that we helped minimize the impact of COVID-19 on our
students' education."

 

Exploring new ways to teach and learn

The integration of applications on
Office 365 and Microsoft Teams also included Minecraft: Education Edition and Flipgrid, which were made available at no
extra cost to students in Thailand. There, the Ministry of Higher
Education, Science, Research and Innovation (MHESI) teamed up with partners
LannaCom and Microsoft to provide access to Office 365 A1 and Microsoft Teams
for over 150 universities across the country, covering more than 60,000
educators and 2 million students.

 

Dr. Suvit Maesincee, Minister of
Higher Education, Science, Research and Innovation (MHESI) Thailand, said: "We turned
this COVID-19 crisis into an opportunity by allowing students from all universities
across Thailand to continue their education through a 100% online learning
system. This takes the learning experience to a higher level in line with
modern learning methods -- an outside-the-classroom learning that goes beyond a
simple video conferencing experience."

 

Upscaling with Microsoft Azure

To cope with the volume of learning
taking place online, the Educational Broadcasting System (EBS) in South
Korea deployed Microsoft's cloud Azure to expand its system's service
capacity by 500 times within two weeks, granting access to 3 million middle and
high school students across the country.

 

Ji Eun Lee, CEO of Microsoft Korea said
that they have been receiving many inquiries requesting them to share their
experiences about holding the world's first online classes in Korea. "We
will do our best to provide a constant educational environment based on our
global experiences and capabilities," she said.

 

Re-educating teachers

Behind the successful deployment of
these learning tools came an equally steep learning curve, as educational institutions
stepped up to mobilize and equip educators with the proper skillsets for online
learning.

 

In the Philippines, the
executive committee of the Department of Education (DepEd) moved quickly
to train educators upon the nation's lockdown in March. Department Secretary Leonor
Briones used Microsoft Teams to hold a meeting with 17 regional offices,
addressing critical issues faced by teachers and students. The industry was
kept connected via weekly "Ask the Expert" sessions for officers, as
well as "TeamsTalk", a bi-weekly online meet-up for teachers to catch up
and solicit advice from one another.

 

Meanwhile, in Malaysia, the Ministry
of Education (MoE) and Digital Classroom Admin (DCA), with the help
of Microsoft, rose to the challenge by conducting daily webinars to introduce
teachers to Microsoft Teams and Office 365. Training sessions were recorded on
Teams and uploaded on MoE's Digital Learning portal (Ruang Ilmu), enabling over
430,000 teachers across the nation to review training materials at their own time.

About Microsoft

Microsoft
(Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an
intelligent cloud and an intelligent edge. Its mission is to empower every
person and every organization on the planet to achieve more.

• Government policies on climate change and
  consumer demand could see the number of electric cars reach 100 million by
  start of next decade compared with seven million today.
• China is
  the world's largest market for electric vehicles in total, accounting for
  around 45%, while a quarter (24%) are in Europe and 22% in the US. In Asia - China,
  Japan and India to drive future sales.
• New risk challenges to manage for automotive
  industry and their insurers: potential defect and performance issues; more complex
  and costly repairs; new fire and cyber threats; and even sustainable sourcing
  and disposal of critical components and raw materials.
• Increasing complexity of supply chains and use
  of new technology will have a strong impact on product liability insurance in
  the commercial insurance segment.

JOHANNESBURG/LONDON/MUNICH/NEW YORK/PARIS/SAO
PAULO/SINGAPORE - Media OutReach - June 09, 2020 - Around
the globe, the take-up of electric cars is expected to accelerate rapidly in
future, driven by consumer demand and government policies aimed at tackling
climate change. The future of mobility is clearly electric, but the transition will
lead to a fundamental change in risk for manufacturers, suppliers and insurers alike
and will have a significant impact on automotive product liability insurance,
according to a new
report from insurer Allianz Global Corporate & Specialty (AGCS).

 

"From supply
chain networks to production processes to the product itself -- the automotive industry
will have to respond to many emerging risks to make the transition to electric
vehicles happen," says Daphne Ricken, Senior Underwriter Liability at AGCS. "The
anticipated growth of electric cars brings the prospect of new defect or
performance issues; more expensive repair costs; new fire and cyber threats;
and even reputational issues around sustainable sourcing and disposal of
critical components and raw materials for batteries."

 

A new AGCS publication,
The Electric Vehicles R-EV-olution:
Future Risk And Insurance Implications, highlights that
the use of electric cars is expected to soar in future as their cost gradually declines,
the choice of available new models likely doubles within five years, their
driving range increases and consumers, as well as governments, demand greener low-emission
vehicles. The International Energy Agency has
predicted there could be more than 100 million electric cars on the roads in 2030
-- up from around seven million today -- with annual sales in the region of 20 million,
driven by growth in China -- already the world's largest market -- the European
Union (second largest), Japan, Canada, the US and India, in particular. Amid COVID-19, the outlook for 2020
global electric car sales becomes more difficult, given prolonged disruption to
dealers, buyers and supply chains. The number of electric vehicles sold in
China plummeted 54% in January 2020, according to data from the China
Association of Automobile Manufacturers.

 

Government
policies aimed at tackling climate change

Globally, the 2015 Paris
Agreement has been the catalyst for a number of country- and region-specific
regulations focusing on the environment. For example in Asia, China's
automakers must make at least 7% of their sales electric by 2025 and India targets
for 30% of cars on roads to be electric-powered by 2030. Singapore is also
planning to phase out internal combustion engine vehicles by 2040 paving the
way for greater adoption of electrical vehicles in the intervening years.

 

New risk exposures

While the coronavirus
crisis may dampen the outlook for global electric car sales for 2020 and beyond,
the anticipated long-term growth also brings a range of technical and
operational risks, both from a product liability perspective and in other
areas:

 

Safety and reliability: Tests
conducted by the Allianz Center for Technology Automotive (AZT
Automotive) have shown that the high voltage components of electric cars are
well-protected and will not be affected in most crashes. Statistical evaluation
of Allianz claims also shows that electric vehicles are less likely to be
involved in accidents today -- they typically drive short distances with limited
mileage overall. However, any damage sustained can be, on average, more
expensive than for conventional cars.

 

"If the
battery in an electric car has to be replaced, it can result in a total loss in
many cases. In addition, the fact that they can only go to specialist repair shops
can contribute to costs," says Carsten Reinkemeyer, Head Of Vehicle Technology
And Safety Research at AZT Automotive.

 

Battery life
and performance are critical issues for electric cars. Given the high cost of
replacement or repair of battery units, a failure to live up to performance
guarantees will pose questions around liability for manufacturers and suppliers.

 

Fire threat: As
with conventional vehicles, defective electrical components and short circuits
can spark a fire, while lithium-ion batteries may combust when damaged,
overcharged or subjected to high temperatures. High voltage battery fires can
be very intense and difficult to extinguish, and can also release high levels
of toxic gases -- such fires can take 24 hours or longer to control and be made
safe. Due to the relative rarity of such fires to date, response and rescue
services have limited experience of dealing with such incidents.  

 

Environmental
issues: Despite their green credentials, environmental
issues can represent a potential liability and reputational risk for vehicle
manufacturers and suppliers. A rapid uptake in electric cars will require
manufacturers to source sustainable supplies of critical components and raw materials
as they ramp up production. For example, battery technology will drive a huge
increase in demand for cobalt and lithium, outstripping
current supply -- lithium supply has been predicted to triple by 2025. Effective
recycling and reuse of materials will therefore be essential. Environmental and
social concerns will also put emphasis on the sustainable sourcing of minerals,
as well as traceability and transparency of supply chains. High voltage
batteries could also pose a pollution risk, if not properly disposed of.

 

Speed to
market and potential defects and recalls: Manufacturers
are under pressure to accelerate the transition to electric mobility. The
combination of new technology, short development cycles and new 3D/4D printing in
production could result in an increase in defects and quality issues, triggering
product recalls for the automotive industry -- which are already among the largest
and most complex of any sector, according to AGCS claims analysis.

 

Cyber
concerns: Electric cars are likely to have increased connectivity
and reliance on data, sensors and software, including artificial intelligence,
to manage vehicle systems and aid driving. As with conventional vehicles, increased
connectivity is likely to give rise to cyber vulnerabilities, including the
threat of malicious attacks, system outages, bugs and glitches. There have already
been product recalls in the automotive sector as a result of cyber security.

 

Insurance
implications and claims complexity

Electric mobility will have many implications for
insurance -- in particular automotive product liability insurance -- and claims,
as technology creates new risks and exposures, and as liability shifts within
the supply chain.

"Electric vehicles
will consist of fewer but more integrated parts and components. What may have
been three parts in a conventional car could be only one part in an electric
car. However, the lower number of parts is increasingly connected through
sensors and embedded software, adding a new layer of complexity and raising
questions around how these parts interact and which producer or supplier is
liable for a potential defect or faulty control," Ricken
explains. "The increased complexity of the automotive supply chain and the
reliance on software and technology producers will lead to new exposures and
split liabilities in the value chain."

Fire and
explosion risks associated with high voltage batteries could give rise to
claims for commercial property insurers, in particular if multiple cars are
charged in underground car parks. Claim scenarios are manifold -- ranging from
overheated battery leads resulting in fires and property damage to breakdown,
leading to fire, as a result of electronic failure of the battery management
system.

 

Insurers may also expect to see a potential increase
in product recall/liability claims from new technologies, components, faster
development times and shorter testing periods. Last, but not least, there will
be employers' liability exposures -- such as potential toxic fumes and fire
risks during 3D printing or the handling of lithium batteries related to fire
and contamination.

 

About Allianz Global Corporate & Specialty SE

Allianz
Global Corporate & Specialty (AGCS) SE is a leading global corporate
insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk
transfer
for a wide spectrum of commercial, corporate and specialty risks across 10
dedicated lines of business.

Our customers
are as diverse as business can be, ranging from Fortune Global 500 companies to
small businesses, and private individuals. Among them are not only the world's
largest consumer brands, tech companies and the global aviation and shipping
industry, but also wineries, satellite operators or Hollywood film productions.
They all look to AGCS for smart answers to their largest and most complex risks
in a dynamic, multinational business environment and trust us to deliver an
outstanding claims experience.

Worldwide,
AGCS operates with its own teams in 33 countries and through the
Allianz Group network and partners in over 200 countries and territories,
employing over 4,300 people. As one of the largest Property-Casualty units of
Allianz Group, we are backed by strong and stable financial ratings. In 2019, AGCS
generated a total of €9.1 billion gross premium globally.

www.agcs.allianz.com

LinkedIn

Twitter: @AGCS_Insurance

Cautionary Note Regarding Forward-Looking
Statements

The
statements contained herein may include statements of future expectations and
other forward-looking statements that are based on management's current views
and assumptions and involve known and unknown risks and uncertainties that
could cause actual results, performance or events to differ materially from
those expressed or implied in such statements. In addition to statements which
are forward-looking by reason of context, the words "may", "will",
"should", "expects", "plans",
"intends", "anticipates", "believes",
"estimates", "predicts", "potential", or
"continue" and similar expressions identify forward-looking
statements.

Actual
results, performance or events may differ materially from those in such
statements due to, without limitation, (i) general economic conditions,
including in particular economic conditions in the Allianz Group's core
business and core markets, (ii) performance of financial markets, including
emerging markets, and including market volatility, liquidity and credit events
(iii) the frequency and severity of insured loss events, including from natural
catastrophes and including the development of loss expenses, (iv) mortality and
morbidity levels and trends, (v) persistency levels, (vi) the extent of credit
defaults, (vii) interest rate levels, (viii) currency exchange rates including
the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x)
changes in laws and regulations, including monetary convergence and the
European Monetary Union, (xi) changes in the policies of central banks and/or
foreign governments, (xii) the impact of acquisitions, including related
integration issues, (xiii) reorganization measures, and (xiv) general
competitive factors, in each case on a local, regional, national and/or global
basis. Many of these factors may be more likely to occur, or more pronounced,
as a result of terrorist activities and their consequences.

The matters
discussed herein may also be affected by risks and uncertainties described from
time to time in Allianz SE's filings with the U.S. Securities and Exchange
Commission. The company assumes no obligation to update any forward-looking
statement.

 

LOS ANGELES, UNITED STATES - Media OutReach - 8 June 2020 - Lee Kum Kee Sauce
Group continues to stand with the world in our concerted bid to stop the spread
of Covid-19. With the closures of
cafeterias in hospitals to prevent the spread of this COVID-19 virus, Lee Kum
Kee has committed to donating over 1,000 Panda Express Bowls to those on the
front-lines at hospitals in the Los Angeles area. This effort is to support
staff with a warm meal, boost of energy and also serve as a 'thank you' for
risking their lives so that they can save others.

 

Lee Kum Kee, the leader in authentic Asian sauces and
flavors partnered with the largest Asian dining concept in the U.S., Panda
Express, to prepare over 1,000 bowls for the health care staff on the
front-lines treating COVID-19 patients at St. Jude Medical Center in Fullerton,
CA, Martin Luther King, Jr. Community Hospital in Los Angeles, CA and Dignity
Health California Hospital in Los Angeles, CA. Lee Kum Kee is gathering members
of their volunteer team to help distribute these bowls on site and to make sure
that each front-line staff member receives a meal. 

 

The Group will be fueling our heroes on the front-lines at
hospitals and will continue to offer help to society, as reassurance that we
are all in this together.  We at Lee Kum
Kee believe that united, we can overcome this pandemic.

 

For more information on Lee Kum Kee, please visit https://usa.lkk.com/.

About Lee Kum Kee

Lee Kum Kee was established in 1888 by its founder Mr. Lee
Kum Sheung. With its sustainable development in 132 years, Lee Kum Kee has
become a well-known household name of Chinese sauces and condiments, as well as
an international brand and "a symbol of quality and trust". Spanning
over three centuries, Lee Kum Kee is a globally renowned Chinese multinational
corporation offering over 200 choices of sauces and condiments to over 100
countries and regions. Please visit www.LKK.com for further details.