Author: Marie Jones

TNG FinTech Group to Develop HK’s FinTech Community Into a Regional Financial Powerhouse

360 Innovation, Empowering The Next Generation Enterprises

TNG FinTech Group Inc. (“TNG”, together with its affiliates, the “Group”), Asia’s leading financial technology group, is pleased to announce the Grand Launch of its new initiative – The Wall Street Factory (“WSF”), a new interactive platform for FinTech entrepreneurs, startups and financial institutions to form a community based on networking, innovation and sharing resources; and to help their businesses growth by providing 360 all-round financial services. This further fulfills TNG’s mission in developing Hong Kong’s FinTech Community into a regional financial powerhouse.

Spanning over 25,800 square feet, WSF is headquartered in the heart of Hong Kong Island and aims to create a platform that empowers global startups, particularly FinTech companies to tap to the Asian FinTech hub. It has twelve signature conference rooms and three main event spaces, namely: Arena, Wall Street Corner and Sandbox, which are able to accommodate about 150-300 persons each. Every space is specially designed and furnished to support the business development and daily operations of FinTech players.

Empowered by TNG, WSF is committed to building a comprehensive, valuable and interactive platform that helps businesses grow through providing one-stop solutions from business incorporation, office space, bank account opening, working visa application, operation support, business referral, fundraising to capital market advisory. WSF also serves as a central connector to investors, regulators, financial institutions, business partners, potential customers and media resources with its key strengths as below:

– Furnished office space
– Premium facilities and amenities
– Professional corporate services
– Broad FinTech community
– Extensive banking and investor network
– Relaxing and recreation facilities for work-life balance (Time Out Cafe, Wall Street Fitness, etc.)

With its integrated platform, WSF is striving to collaborate with global e-wallets and financial institutions in offering and promoting their Open Banking APIs (Application Programme Interface) to global FinTech, WealthTech, InsureTech, PropTech companies and more. Currently, WSF has commenced collaboration with a few FinTech pilot players, covering Blockchain, Artificial Intelligence (AI), Big Data and PropTech companies.

Mr. Alex Kong, Founder and Chairman of TNG, said, “We are really excited to witness the official grand launch of WSF, which perfectly matches TNG’s commitment to elevating lives of billions with financial empowerment and financial services. WSF is designated to help startups grow to rising-stars to unicorns, and then to public listings in major stock exchange, by providing them a host of business and fundraising solutions.”

“We believe everyone in the world deserves a better life including the ability to access basic financial services. TNG’s aim is to realize this vision as quickly as possible with carefully managed resources, effort and passion to do more and personal integrity. WSF, with its strong network in WealthTech, CreditTech, Global E-money Alliance, Innovation Labs and Associations, Blockchain, etc., is believed to play a critical role of facilitator, accelerator and supporter for the business growth of global startups.”

About TNG
Headquartered in Hong Kong, TNG FinTech Group Inc., together with affiliates, is an industry pioneer providing the next generation financial services to over 1.2 billion unbanked population in Asia through its various e-wallet and e-money platforms. The financial services it provides include electronic payments, global remittance, global cash withdrawal and settlement, wealth management and more. Its ‘Global E-Money Alliance’ platform currently covers Hong Kong and over 160 countries, including Mainland China, the Philippines, Indonesia, Singapore, Malaysia, Thailand, Vietnam, India, Sri Lanka, Bangladesh, Nepal and Pakistan, European Union countries, which provides 24×7 cash-in and cash-out services to its users through a network of over 5,000 banks and over 400,000 cash pick-up points globally. For more information, please visit www.tngfintech.com 

Source: ACN Newswire

Qatar Financial Centre Strengthens Ties With Hong Kong

The Qatar Financial Centre (QFC), one of the world’s leading and fastest growing onshore business and financial centres, signed a number of agreements and held high-level B2B meetings with key Hong Kong entities and attended the Rise Summit, part of Web Summit, one of the largest and fastest-growing technology conferences in the world, as part of recent engagements in Hong Kong. 

During the visit, Memorandum of Understandings (MoU) were signed with InvestHK and the Hong Kong General Chamber of Commerce (HKGCC) to promote investment between Hong Kong and Qatar; common interests and collaborative initiatives; proactively expose Hong Kong and mainland China firms to companies within the QFC; as well as facilitate meaningful dialogue and interaction especially with targeted cluster businesses that are interested in investing in Qatar and the region. 

The MoU with InvestHK will also aims at co-hosting focused investment promotion events that support bilateral relations between Hong Kong and Qatar, as well as jointly supporting local companies in each country to set up or expand their business in each of these respective markets. 

The QFC’s engagement with the HKGCC will focus on hosting key meetings with suitable business delegations from the State of Qatar and Hong Kong, in addition to organising relevant seminars and conferences.

Sheikha Alanoud Bint Hamad Al-Thani, Managing Director, Business Development, QFC Authority said: “Hong Kong and Qatar have enjoyed strong bilateral relations for many years and these agreements are a testament to these historical ties. Through these MOUs, we are also broadening the capacity of the QFC to create even more business prospects for organisations based in Qatar and Hong Kong, while paving the way for more avenues for mutually beneficial collaboration. I am confident that we will witness significant process as a result, and look forward to the many opportunities that will result from our combined efforts.”

The Consul General of the State of Qatar in Hong Kong, His Excellency Mr. Mohammed Sultan Al Kuwari commented saying: “Hong Kong remains a pivotal partner for Qatar and the signing of these MOUs further shows the commitment and support both parties have for each other, including mutual cooperation to increase Foreign Direct Investment. We look forward to working with InvestHK and HKGCC more, and are excited to see the great accomplishments that will undoubtedly result from these agreements.”

InvestHK’s vision is to strengthen Hong Kong’s status as the leading international business location in Asia by attracting and retaining foreign direct investment which is of strategic importance to the economic development of the region. 

Mr Stephen Phillips, Director-General of Investment Promotion at Invest Hong Kong (InvestHK) said: “The signing of the MOU today signifies an important milestone for Hong Kong and Qatar in terms of mutual investment promotion cooperation. The MOU offers a basis for both parties to enhance the existing ties beneficial to attracting foreign direct investment to each other’s jurisdictions. Towards this end, InvestHK will continue to work closely with QFC over future investment promotion work.”

The Hong Kong General Chamber of Commerce aims to promote, represent and safeguard the interests of the business community in Hong Kong, and simultaneously provide support, networks, training and business services to help the business community grow.

Shirley Yuen, CEO of HKGCC, said: “The Gulf Region has long been a key market for Hong Kong companies, and it is also at the crossroads of the very important Belt & Road Initiative. We look forward to working with QFC through this MOU to help businesses expand their trade, investment and understanding of the rapidly diversifying Qatari economy to capture more opportunities in the country.” 

The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.

ABOUT THE QATAR FINANCIAL CENTRE
The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, providing an excellent platform for firms to do business in Qatar and the region. The QFC offers its own legal, regulatory, tax and business environment, which allows up to 100% foreign ownership, 100% repatriation of profits, and charges a competitive rate of 10% corporate tax on locally sourced profits. The QFC welcomes a broad range of financial and non-financial services firms.

For more information about the permitted activities and the benefits of setting up in the QFC, please visit www.qfc.qa
@QFCAuthority | #QFCMeansBusiness

MEDIA CONTACTS
QFC: Hala Kassab
T. +974 3300 0216
E. h.kassab@qfc.qa

BLJ Worldwide: Shrief Fadl
T. +974 7021 8258
E. shrieff@bljworldwide.com

Source: ACN Newswire

AIM Commercial Growth REIT (SET:AIMCG) Trades Opening Day

– Expected to provide excellent returns, driven by outstanding performance from its great lifestyle mall properties

AIM Commercial Growth Leasehold Real Estate Investment Trust (SET:AIMCG), debuted on the Stock Exchange of Thailand today, 12 July. It is expected to provide superior long-term returns, given the excellent quality of its three initial investment assets, lifestyle malls with high occupancy rates. Its first-year distribution payment is estimated at 8%.

Mr Amorn Chulaluksananukul, Chief Executive Officer of AIM Group, the Settlor and Manager of AIM Commercial Growth (AIMCG), reacting to AIMCG’s units being floated on the SET today, expressed his confidence that the great quality of the three lifestyle malls will produce superior returns.

AIMCG’s initial assets valued up to THB 2.88 billion in total, include commercial leasehold interests in UD Town (Udon Thani), Porto Chino (outbound lane of Rama 2 Road in Samutsakorn) and 72 Courtyard (Thonglor / Soi Sukhumvit 55), each of lifestyle malls with great potential and unique characteristics.

Mr Charasrit A. Voravudhi, Managing Director of AIM Group, stated that each of the said three properties offers sheer quality, unique concepts and location advantages in Bangkok or in an economically important city. He highlighted UD Town’s position as the Udon Thani’s largest lifestyle mall and prominent landmark, as well as the project’s location in the city’s core business district and immense popularity among the locals in Udon Thani, neighbouring provinces, and Lao tourists. Developed and managed by Udon Plaza Co, a highly experienced property developer and manager who is equipped with deep insights into customer behavior, UD Town posted approximately 97% in average occupancy rate over the past three years and welcomed 20,000-50,000 visitors per day.

Developed and managed by D-Land Properties Co and built with ‘Neighborhood Mall’ concept, Porto Chino is Samut Sakorn’s first and largest lifestyle mall. It is located on the outbound lane of Rama 2 Road, as a rest area popular among westbound and southbound travelers as well as a food oasis where leading brands of products are available for purchase. The Food Port area is going to be renovated and local well-known restaurants will be added to serve neighboring residences and locals. Its average occupancy rate stood at approximately 84% for the past three years, and it has been visited by 4,000-10,000 persons per day.

The 72 Courtyard project is developed by Membership Co and situated in the heart of Thonglor / Soi Sukhumvit 55, a prime area frequented by high-end customers. It offers a unique mix of restaurants and bars that are open day and night. The average occupancy rate reached 100% over the past three years, and its visitors totaled 300-1,500 per day, said Mr Charasrit.

Mr Sittichai Mahaguna, Head of Investment Banking Group of Bank of Ayudhya PCL, as Financial Advisor, commented that real estate investment trust (or REIT) is a great investment choice for investors who seek to achieve better diversification through investment in assets that produce stable returns at higher rates compared to bank deposits. He noted AIMCG’s policy to distribute at least 90% of its adjusted net income for each financial year, and that the first-year’s distribution rate is estimated at 8% (according to the pro forma financial information reviewed by auditor and prepared based on AIMCG’s assumptions for the 12-month period of 1 July 2019 to 30 June 2020, and based on unit price of THB 10 each). He believed that AIMCG, managed by AIM Group, a firm with direct experience in REIT management, can make decent, stable distribution payments long term.

Mr Udomkarn Udomsab, Managing Director of Krungsri Securities PCL, as Lead Underwriter, added that AIMCG’s initial assets are the leasehold interests in the said three lifestyle malls with invested area of approximately 45,000 SQM; 33,000 SQM and 5,000 SQM, respectively, with the lease term of about 21 years, 30 years and 13 years for UD Town, Porto Chino and 72 Courtyard, respectively. He stated that the REIT Manager will appoint Udon Plaza Co, D-Land Properties Co and Chetchot Co as property managers, given their relevant experience and expertise and insights into customer behaviour as well as their ownership interests in, and management control over, the respective malls.

Distributed by MT Multimedia Co Ltd for AIM Group: 
Pipop (‘Top’) Kongwong
Mobile: +66 8 1929 8864
E-mail: pipop.k@mtmultimedia.com

Thiyaporn (‘Dah’) Sriadunphan
Mobile: +66 8 7556 6974
E-mail: thiyaporn.s@mtmultimedia.com

Blockpass Announces First-Use KYC Services to Hong Kong Brokers in Partnership with 2GoTrade

Digital identity verification provider Blockpass has announced its first mainstream financial integration providing its eKYC service to Hong Kong based broker technology platform provider 2GoTrade. This new type of integration is a first for Blockpass, as it enters the broker market offering best-in-class Know-Your-Customer (KYC) and Anti-Money Laundering (AML) verification services to the 2GoTrade network.

2GoTrade’s award winning platform service meets most brokerages applications and IT needs, while keeping complex and ever-changing development and around-the-clock operation of software, systems, infrastructure, command control, compliance, and pre-post trade processing away from brokers’ core business – serving customer’s trading & investment needs. Its primary services support Hong Kong Exchange and global equity products as well as China A/B shares for retail and institutional brokers. 2GoTrade all-inclusive services encompass all software applications, infrastructure/hardware, networks, and command control systems and processes.

Blockpass is a leading RegTech and Compliance platform which provides digital identity verification as a service. Through its vast network of partners, Blockpass is creating an ecosystem of pre-verified customers for easy and seamless customer onboarding for any regulated business and industry. The Blockpass portfolio of KYC Connect products allows businesses to implement the right solution for their needs through the use of an API.

This new integration of the Blockpass eKYC service will allow 2GoTrade to provide its 100 Hong Kong based broker clients with award winning one-click customer verification, streamlining the process for brokers and customers alike.

Adam Vaziri, Blockpass CEO stated: “This is a particularly exciting integration of the Blockpass KYC Connect solution. By partnering with 2GoTrade, we are showcasing another unique and innovative use of our technology, and furthering the development of our ever-growing Blockpass ecosystem of customers and merchants.”

Jay Law, 2GoTrade CEO stated: “Blockpass KYC Connect is an ultimate customer onboarding solution for Financial Institutions in Hong Kong, and resonates well with the lastest SFC announcement (28-Jun-2019) on Remote onboarding of overseas individual clients; we are thrilled to be partnering with Blockpass in bringing cutting edge KYC technology to our broker clients for onboarding new retail customers, especially those from the mainland China.”

Blockpass has continued to add a number of new partnerships and integrations in recent months, including Waves, Tokenomica, Ethfinex, Polymath and Beam amongst others. The Blockpass KYC Connect solution is an easy to use merchant dashboard that allows for seamless customer on-boarding. Easily view, approve and onboard customers within the dashboard within minutes. 

About Blockpass IDN

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

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

About 2GoTrade

2GoTrade Limited (www.2gotrade.com), a home-grown premier software solution provider and operator for the financial industry since the year 2000. Core product of 2GoTrade are securities trading and post-trade applications for licensed brokers in Hong Kong. It represents a single stop solution for stock broker to interface with stock exchanges across the globe including HKEX and the US markets, while offering a white-label user applications to the broker’s end customers for viewing real time stock market data, trading stocks, managing their brokerage account, and other related functions. 2GoTrade offers its products and services to customer primarily in a Software-as-a-Service/Cloud arrangement since its inception.

2GoTrade has been serving the financial services industry for almost two decades, it has been greatly recognized by both the HKEX and the SFC. 2GoTrade’s SaaS/Cloud service is committed in providing 99.9% guarantee service under our SLA with customers while data security is the utmost priority of 2GoTrade that we are proud of our absolutely zero incident achievement over the past 20 years. 

Asia Aligns Power Infrastructure Investments to Meet Dynamic Energy Transition Needs

Governments across Asia are tapping on innovations in generation, transmission and distribution technologies to fulfil their energy transition ambitions.

At the core of the energy transition is the need to address the increasing power demand that follows rapid population and economic growth along with the continued need for conventional power sources.

“Regional governments are making good progress in supplying affordable and reliable energy for their population as they also implement emerging technologies to offer more sustainable solutions. With global and regional experience in generation, transmission and distribution technologies, Black & Veatch is helping regional leadership identify integrated power infrastructure possibilities as they re-balance their energy portfolios to meet universal electrification and carbon emission reduction goals,” says Narsingh Chaudhary, Black & Veatch’s newly-appointed Executive Vice President, Asia Power Business. Chaudhary added that while this transition occurs governments have not lost sight of the need to bring power to rural and remote areas.

An integrated power infrastructure takes advantage of different generation, transmission and distribution technologies to help utilities overcome the pitfalls of aging infrastructure assets while meeting rising customer demand for energy that is renewable and reliable. The right energy portfolio mix offers improved operation efficiencies.

Chaudhary leads Black & Veatch Power teams in Asia, including India, where the company service offerings include conventional, renewable, and distributed power generation, transmission and distribution, microgrids, and behind the meter services.

As a leader in energy transformation strategies, Black & Veatch delivers engineering possibilities for integrated power infrastructure that address local energy requirements.

Leyou Technologies and Amazon Game Studios Collaborate

Leyou Technologies and Amazon Game Studios to Collaborate on Massively Multiplayer Online Game for PC and Consoles Set in Middle-earth

The global market leader in free-to-play multiplayer online games, Leyou Technologies Holdings Limited (“Leyou Technologies”, and its subsidiaries collectively “the Group”; stock code: 1089) today announced it will collaborate with Amazon Game Studios, a division of Amazon.com Inc. (NASDAQ: AMZN) to co-develop and publish a free-to-play massively multiplayer online (MMO) game based on the milestone literary work “The Lord of the Rings”, by J.R.R. Tolkien (“the Game”). No release date has been set for the game.

Set in the world of Middle-earthTM portrayed in “The Lord of the Rings” literary trilogy, the Game is expected to give fans around the globe a new, immersive game experience for epic exploration of the vast world of Tolkien. Leyou Technologies and Amazon Game Studios will co-develop the Game for PC and consoles.

Leyou Technologies will manage the marketing and operation of the Game in China, while Amazon Game Studios will manage such aspects of the Game in the rest of the world. The collaboration brings together Amazon’s game technology and talented MMO developers, and Leyou Technologies’ expertise in designing free-to-play games and operating live-service games.

“Bringing Middle-earth to life necessitates having the very best partners, and Amazon’s customer obsession, technology, and talented teams make it the ideal choice for a co-developer and publisher,” said Mr. Xu Yiran, Chairman and Chief Executive Officer of Leyou Technologies. “We believe our combined resources and expertise will result in a beautiful and compelling game that customers, will love and play for years to come.”

“We’re committed to bringing customers games of the highest quality, both with our own original IP as well as beloved cultural pillars like ‘The Lord of the Rings’,” said Mr. Christoph Hartmann, VP, Amazon Game Studios. “Tolkien’s Middle-earth is one of the richest fictional worlds in history, and it gives our team of experienced MMO developers – from the same studio developing New World – tremendous opportunity to play and create. We have a strong leadership team in place to helm this new project, and we’re actively growing our team to help build this incredible experience.”

“Who among us hasn’t wanted to take part in an epic adventure,” said Mr. Fredrica Drotos, Chief Brand and Licensing Officer at Middle-earth Enterprises. “More than 60 years after the publication of ‘The Fellowship of the Ring’, we’re delighted that Amazon Game Studios has partnered with Leyou Technologies to bring their respective expertise to build a much anticipated game that will immerse us in the beloved, epic world of Middle-earth, envisioned by Professor Tolkien.”

About Leyou Technologies Holdings Limited
Leyou Technologies Holdings Limited (1089.HK) is principally engaged in the development and publishing of online multiplayer PC and console video games. It is a global market leader in the market of free-to-play multiplayer online games. Leyou Technologies owns and invests in multiple world renowned AAA game development studios across the globe, including Digital Extremes and Splash Damage, and publishes several of the most successful free-to-play online multiplayer games worldwide. Six years since the flagship product “Warframe” has got online, it maintains a top 10 ranking in all genres in terms of number of players and playtime on Steam, and has a positive review score of approximately 91% from players. In addition to the continual premium updates and improvements to its live games, Leyou Technologies also keeps on investing in the development of new products, such as “Civilization Online” and “Transformers Online”.

For more information, please visit: http://leyoutech.com.hk/

About Amazon Game Studios
Amazon Game Studios is creating games that aim to be as fun to watch as they are to play. Building within the sandbox of Amazon Web Services (AWS), Amazon Lumberyard, Twitch, and more, our ambition is to create bold, new gaming experiences that foster community inside and outside of the games we make. For more information, visit www.amazongames.com .

Media enquiries:
Anli Financial Communications Limited
Phoebe Li 852-3956 1640 phoebe.li@anli.com.hk
Kenix Luk 852-3616 0807 kenix.luk@anli.com.hk

Blockpass to Service Ultra IEO on New Tokinex Platform

Tokinex has announced that Blockpass will again be the provider of digital KYC services for an upcoming IEO – the Ultra IEO, which begins on 16 July on the Tokinex Platform.

Blockpass has long been partnered with Ethfinex, the parent company of the Tokinex platform, and has provided KYC and AML verification for previous successful IEOs hosted by the company, including Dusk and Ampleforth. Using the Blockpass App, customers can easily create a pre-verified digital identity which can then be used to sign up to the Tokinex platform with one-click submission on registration.

Ultra is a protocol and platform positioned to disrupt the $140bn USD gaming industry using blockchain technology to allow anyone to build and operate their own game distribution platform or virtual goods trading service. In doing so, it challenges the current monopoly held by industry heavyweights Steam, Google, and Apple. This will unlock new opportunities and create value for all the actors involved. Large commercial partnerships are signed, the protocol and platform have been built and will be launched in open beta in October 2019.

Initial Exchange Offering platform Tokinex allows users to discover, as well as participate in, curated, pre-vetted token sales from new and exciting projects in the crypto space, using their Bitfinex and Ethfinex accounts. The new platform has been built with the user experience in mind and has undergone significant testing, ensuring that the contribution process is easy and reliable. With a carefully designed user experience, Tokinex makes participating in token sales an easy and exciting process.

“Our partnership with Ethfinex has been extremely successful so far, and it’s been great to see the Blockpass App coming to life which such versatile utility.” Said Blockpass CEO, Adam Vaziri. “Customers who have created a Blockpass identity and passed eKYC checks for previous IEOs within the Tokinex platform can simply scan the QR code for the Ultra IEO and click submit. This integration is really working to simplify the process for Ultra, Tokinex and the consumer alike, and it’s fantastic to see it all interact so seamlessly.” 

“After the successful Ampleforth sale two weeks ago, we are delighted to welcome Ultra to Tokinex. Blockpass gives our users a quick and easy way of managing their personal KYC data, whilst at the same time allowing us to manage the approval process for different token sales and token issuers in a secure and compliant manner.” – JL van der Velde, Bitfinex & Ethfinex CEO 

Blockpass continues to work on expanding its uses and features, with multiple partnerships announced this year, including Waves, Tokenomica, the BBFTA and Ethfinex. There have been a number of updates to the app, with the most significant seeing the release of Face Match Certification.

About Blockpass IDN

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

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

China Bank Raises PhP30 Billion from Retail Bonds

China Banking Corporation (PSE: CHIB) successfully raised PhP30 billion as investors gobbled up its maiden issue of peso fixed rate bonds. The bonds were listed on the Philippine Dealing & Exchange Corp. (PDEx) on July 10, 2019.

We are very grateful for the overwhelming market response which reflects our clients’ confidence in China Bank’s fundamental strength and future prospects,‖ said China Bank President William C. Whang, noting that the issue was six times oversubscribed.

China Bank upsized the amount to PhP30 billion from the initial target of PhP5 billion to accommodate strong investor demand. This is one of the largest corporate bond issuances on a single issuance in the market to-date—a testament to the Bank’s placement capabilities, solid client support and strong distribution reach.

The success of a bond issue of this size in accessing the capital markets — following the successful two rounds of LTNCD that we issued in the previous years – is likewise a testament to the institutional strength of China Bank, as reflected in the investment grade credit rating given to China Bank in 2017 and recently affirmed by Moody’s‖, Whang added.

The China Bank bonds, due January 2021, carry an annual interest rate of 5.70%, which will be paid monthly.

This bond issue forms part of the Bank’s planned PhP75-billion fund raising program for the next three years to support its expansion and strategic initiatives. The Bank is also looking at following this with the issuance of up to PhP20 billion worth of peso-denominated Long Term Negotiable Certificates of Time Deposits (LTNCD) in the fourth quarter of the year, subject to BSP approval and favorable market conditions.

Last year, China Bank raised PhP10.25 billion via LTNCD.

WIMI Hologram Listing helps open AR market to Foreign Capital

WiMi Hologram Cloud, Inc, the largest holographic AR content producer in China, filed a preliminary prospectus with the SEC last week for an initial public offering (IPO) of American depositary shares, or ADSs, of up to $50,000,000. The Company intends to list the ADSs on the Nasdaq Global Market under the symbol “WIMI.” Having developed powerful, leading-edge holographic AR technologies, the Company aspires “to be the creator of the largest holographic AR ecosystem in China.”

WIMI offers augmented reality (AR)-based holographic products and services centered on providing an innovative, immersive and interactive holographic augmented reality experience, for ‘Customers’ who have contracted with the Company to use its products and services subject to the contracts during the relevant period, and ‘End users’, who enthral in etherial AR experiences. WIMI business offerings consist primarily of (i) Holographic AR Advertising Services, which accounted for 80.5% of revenue in fiscal 2018, and (ii) Holographic AR Entertainment Products, which accounted for 19.5% of revenue in the same period.

Holographic AR Advertising Services

The Company’s holographic AR advertising software enables real or animated 3D images and objects to be inserted in film or video footage, seamlessly interacting with the characters and scenes of such footages. The online holographic AR advertising solution embeds holographic AR ads into films and videos that are hosted by leading online streaming platforms in China. Ads produced with WIMI holographic software generated more than 6.6 billion views during fiscal 2018, compared to 4.9 billion views during fiscal 2017, representing a year on year increase of 34.7%.

The Company had 121 customers during fiscal 2018, as compared to 97 customers during fiscal 2017, and the average revenue per customer was approximately RMB 1.5 million during the year, as compared to approximately RMB 1.4 million during 2017. Average revenue per customer is calculated by dividing the total AR advertising revenue by the number of customers, while the average revenue increase was due to the improvement in technologies where we could embed more contents in the advertisements. The duration of a typical AR advertising service contract is one year.

Image 1: Holographic Application Platform (https://bit.ly/2Nq7U7Y)

Through the Company’s proprietary image and video recognition technologies, its software enables users to analyze the underlying video footages at a pixel level to identify ad spaces that can be augmented by 3D objects. Advertisers and their agencies purchase these ad spaces through application programming interface, or APIs, integrated with our systems, specifying their target audience and budgets and typically providing the 3D models to be embedded in the videos. When the ad space is detected, and 3D objects are generated, the objects are embedded into the underlying streaming videos automatically on a batch-processing basis as determined by our software.

Holographic AR Entertainment Products

WIMI’s holographic AR entertainment products consist primarily of payment middleware software, game distribution platform and holographic mixed reality (‘MR’) software. Payment middleware is a software solution that connects mobile apps to payment channels, giving mobile app users convenient access to a wide range of online payment options. WIMI has cooperated with more than 55 app developers; its payment middleware has been embedded in over 1,100 mobile apps, many featuring AR functionality, which were marketed by over 300 customers in 2018.

The Company also provides payment middleware which streamlines the often time-consuming mobile payment process with a proprietary in-app payment infrastructure that allows micropayments to be made or received through an efficient, secure system without any interface redirection. Such mobile payment middleware enables app developers to store users’ payment credentials in a trusted and safe environment and eases the user burden of repeatedly entering and authenticating payment information for each transaction.

Image 2: https://bit.ly/2KShsXc

WIMI’s payment middleware can be fully integrated with various mobile apps, including live streaming, gaming, selfie, photo editing, and video-sharing, and especially those employing AR technologies. The payment middleware supports substantially all major online payment channels in China, and it is also compatible with the mainstream mobile operating systems.

About WiMi Hologram

WiMi Hologram Cloud, Inc. began commercial operations in May 2015 through Beijing WiMi Hologram Cloud Software Co., Ltd., or Beijing WiMi. WiMi Cayman was incorporated under the laws of the Cayman Islands as the offshore holding company in August 2018 to facilitate offshore financing. In Sept. 2018, WiMi Hologram Cloud Limited, or WiMi HK, a wholly-owned Hong Kong subsidiary, was established.

WiMi HK established a wholly-owned PRC subsidiary, Beijing Hologram WiMi Cloud Internet Technology Co., Ltd., or Hologram WiMi, or WiMi WFOE in the Company’s SEC prospectus. Substantially all of WIMI’s users and business operations are located in the PRC. Tthe Company does not have plans for any significant overseas expansion, as its primary focus remains the PRC hologram market, with its tremendous growth potential and attractive monetization opportunities. http://en.wimiar.com

Contact: Insight Data Talking Institute, Mr Ronald Sims, +44 20 7698 1963, morningstar.editors@gmail.com, www.insightdatatalking.com
Source: U.S. SEC – FORM F-1, WiMi Hologram Cloud Inc., as filed with the Securities and Exchange Commission on June 27, 2019.

Source: ACN Newswire

Drive Japan Looks to Make Self-Guided Tours More Popular among Visitors

Raising Money to Create a New System to Help them Plan Driving Routes in Hokkaido

 

 

 

 

 

The number of visitors to Japan is increasing year by year, leading to an increase in those that rent cars. With this increase of visitors that are renting cars, a gap has appeared in what can be done to help with these car renters. For the most part, many look to tour companies but with many tours exceedingly overpriced, the visitors try to plan their own trip.

One problem that arises when trying to do so, is that many of the maps or information given on the internet isn’t checked or is inaccurate, leading to plans going astray. This is where Drive Japan steps in. Drive Japan is currently operating out of Tokyo and helps with the planning of trips in Kyushu and Okinawa. They are now planning to expand their service to Hokkaido, a target of many visitors, mainly repeaters that have had the chance to explore Tokyo, Kyoto, and Osaka.

Drive Japan therefore is looking at using crowdfunding to raise money to help fund costs such as accommodation and so on, as they travel around Hokkaido collecting important data that will allow them to perfect travel maps that they will then be able to disseminate to the public. By doing so they can help those that wish to tour in Japan with planning as well as collating data to make information more up to date.

The project can be found at https://en.japankurufunding.com/projects/drive-japan/

Project Information
– Period: July 8th 2019 – August 29th 2019
– Target: 1,000,000 Yen
– Returns: Returns are focused on giving information to backers that are looking to visit Hokkaido, Kyushu or Okinawa in the near future.

About Drive Japan
Drive Japan is a newly formed company, under the lead of Takujiro Oto. Mr Oto has 7 years of experience when it comes to Online Marketing, as well as 4 and a half years concerning tour operation in Japan after working in Singapore. Official website https://drivejapan.co.jp.

About JAPANKURU FUNDING
JAPANKURU FUNDING is a Japanese based crowdfunding site, that allows for the project page to be curated in 3 different languages, English, Japanese, and Traditional Chinese. This allows for funding to be collected from all over the world. Homepage https://en.japankurufunding.com.

For more information, please contact info@japankurufunding.com