The Next Step in Accurate’s Leadership as a Global Screening Provider
Accurate Background, the world’s largest privately held provider of compliant background checks, drug and health screening, and monitoring solutions, today announced the acquisition of VerifyNow Pty Ltd, an employment screening provider in Australia. The acquisition complements Accurate’s global strategy and expands its portfolio of international compliance-driven employment screening solutions. VerifyNow will continue to operate under the leadership of Khai Ngo, who will join Accurate’s senior leadership team.
Aaron Hayes
Tim Dowd
“We remain committed to our global employment screening capabilities while continuing to advance our innovative approach to candidate and client experience, screening technology, and compliance expertise,” said Tim Dowd, CEO of Accurate Background. Dowd added, “Accurate and VerifyNow have been partners for several years, and we are excited to deepen this relationship as we seek to better serve our clients’ background screening needs in Australia and beyond.”
The acquisition further expands Accurate’s global business footprint and comes on the heels of the successful acquisition of Vero Screening in July 2022. Accurate gains a new office in Australia, where the VerifyNow team will continue to serve its existing client base while offering support to Accurate’s roster of multinational clients.
“Our customers and employees will benefit greatly from this acquisition by Accurate as we look to expand our service and capabilities within Australia and New Zealand and provide better screening options for multinational clients with the Accurate platform,” said Khai Ngo, the CEO of VerifyNow.
To manage the global expansion, Aaron Hayes has been promoted to General Manager and EVP, International, overseeing Accurate’s EMEA and APAC regions.
“The need to tap into a global hiring pool continues to grow, and employment screening on an international level is more important than ever,” said Hayes. “Our expanded global footprint helps us serve Accurate customers with an entrepreneurial mindset and helps ensure a seamless, unified candidate experience at scale.”
Dowd added, “As we evaluate opportunities to expand our business footprint to better serve our customers, it is vital that we select partners who share our vision, our values and strengthen our overall capabilities for our customers. We look forward to the opportunities that this acquisition will bring.”
Financial terms of the transaction were not disclosed. Gilbert + Tobin represented Accurate in the transaction while the sellers of VerifyNow were represented by MV Law.
About Accurate Background
Our vision is to make every hire the start of a success story. As a trusted provider of employment background screening and workforce monitoring services, Accurate Background gives companies of all sizes the confidence to make smarter, unbiased hiring decisions at the speed of demand. Experience a new standard of support with a dedicated team, comprehensive technology and insight, and the most extensive coverage and search options to advance your business while keeping your brand and people safe. To learn more, visit accurate.com.
About VerifyNow
The VerifyNow mission is to help organisations build a trusted workforce. We offer a range of background checks and assessments to support the screening of new hires and the existing workforce. We also offer expertise in psychometric and aptitude testing. To learn more, visit verifynow.com.au.
The HKTDC Export Index grew 9.3 points to 39.0 in January-March this year, indicating a significant improvement in business sentiment among Hong Kong exporters after borders between Hong Kong and Mainland China reopened in early February. Full benefits are expected to materialise in coming months.
HKTDC Director of Research Ms Irina Fan [R] and Senior Economist (Greater China) Ms Cherry Yeung [L] announced the HKTDC Export Index for the first quarter of 2023 at a press conference today.
The first-quarter export survey by the Hong Kong Trade Development Council (HKTDC) showed that almost all respondents (98%) reported positive impacts from the gradual resumption of normal cross-border travel since early January, especially from the more flexible and frequent business travel and cross-border engagements.
More than one-third of the exporters (36.5%) would increase shipments through Hong Kong, after cross-boundary land cargo transport was normalised, driven primarily by end-user requests and a preference for storage, sub-packaging and processing to be done in the city.
Business revives Releasing the survey today, HKTDC Director of Research Ms Irina Fan said: “As normal travel between Hong Kong and the rest of the world resumes, hundreds of thousands of high-spending mainland and overseas business travellers have been coming back to Hong Kong in recent months, creating impetus for the city’s economic recovery.”
Ms Fan anticipated that more global buyers would visit trade fairs in Hong Kong during the peak sourcing season to replenish inventory and meet pent-up demand. “All these developments are the pull factors for the city’s trade outlook, and we expect a gradual pick-up in the second half of 2023,” she said. “Taking into account the external challenges and uncertainties, our export forecast for this year remains unchanged at a 5% growth year-on-year.”
Versatility in business strategy More than half the respondents (55.7%) expected production and operating costs to increase, mainly because of higher raw material, logistics and labour costs.
Against this backdrop, local exporters have adopted a versatile approach. In addition to cash-flow management (39.9%, up 5.3 percentage points), more exporters have focused on e-commerce development (36.3%, up 7.5 percentage points), value-added service provision (31.6%, up 6.6 percentage points) and overseas market expansion (30.5%, up 7.5 percentage points) in the first quarter of 2023.
Clothing sector most optimistic in 12 years The HKTDC conducts the Export Index survey every quarter, interviewing 500 exporters from six major industries – machinery, electronics, jewellery, watches and clocks, toys and clothing – to gauge business confidence in near-term export prospects. The Index indicates an optimistic or pessimistic outlook, with 50 as the dividing line.
HKTDC Senior Economist (Greater China) Ms Cherry Yeung said all industry sectors saw an upturn in exporter confidence, indicating improving sentiment. “Clothing is the most promising sector, which swings back to the expansionary territory (51.5, up 27.7 points) since the third quarter of 2011, followed by toys (47.9, up 19.0 points) and timepieces (47.5, up 10.7 points),” she said. Ms Yeung attributed the leap to the high penetration of fashion e-commerce during the pandemic and surging demand for new clothes as the world returned to normal.
She added: “Mainland China (47.9) overtook Japan (46.9) as the most upbeat market, followed by ASEAN (44.8). Improving sentiment was also seen towards the United States and European Union markets.”
Sub-indexes, including the Trade Value Index (48.0, up 8.8 points), Employment Index (47.6, up 7.3 points) and Offshore Trade Index (28.0, up 8.3 points), also moved up. The Procurement Index remained subdued at 28.4 (down 0.5 point), but momentum varied across sectors – clothing, jewellery and toys improved, while timepieces and electronics slightly declined.
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 and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Media enquiries Please contact the HKTDC’s Communication and Public Affairs Department: Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org
Group to set up a portal to service Kumon Malaysia exclusively as part of agreement
SNS Network Technology Berhad (Bursa: SNS, 0259), an ICT system and solutions provider, is pleased to announce that the Company’s wholly-owned subsidiary, SNS Network (M) Sdn. Bhd, has signed a collaboration agreement with Kumon Education (Malaysia) Sdn. Bhd. to supply Apple iPad products and accessories to Kumon Malaysia’s students and parents.
Managing Director of SNS, Ko Yun Hung
Mr. Ko Yun Hung, Managing Director of SNS and Mr. Atsushi Hasegawa, General Manager of Kumon Malaysia [L-R]
Kumon Malaysia is part of the largest established after-school enrichment programme in the world with over 4 million students currently enrolled across 50 countries and regions. The collaboration agreement covers over 200 Kumon learning centres and can benefit more than 37,000 students in Malaysia.
As part of the agreement, SNS will create and maintain a portal from which Kumon Malaysia’s parents and students can access while also undertaking all services related to the supply of Apple iPad products and accessories.
Managing Director of SNS, Ko Yun Hung said, “This collaboration enables Kumon Malaysia to gain access to a range of Apple products and accessories offered by SNS in a seamless manner and also allow us to better serve and communicate with parents and students through the dedicated portal. These products will enrich students’ after-school learning experience, providing them access to tools to stimulate their minds and enabling them to interact with each other.”
General Manager of Kumon Malaysia, Atsushi Hasegawa said, “The supply of iPad products and accessories through the collaboration with SNS is part of Kumon Connect feature launched in January 2023 to encourage students to enjoy the learning process together online. We believe that digital learning is increasingly an important part of the entire learning process for students and we would like them to have a great head start.”
ABOUT SNS NETWORK TECHNOLOGY BERHAD SNS Network Technology Berhad is principally involved in the provision of ICT products, services and solutions. The Group’s core business activities are the sale of ICT products comprising hardware, devices and related peripherals, as well as the provision of ICT services and solutions and; provision of device repair and related services, as well as sale of broadband services.
Under ICT services and solutions, SNS offers JOI(R) smart classroom framework, which integrates and combines a broad range of features to support effective teaching and learning and, Device-as-a-Service (DaaS), a subscription-based service. DaaS offers customers bundled ICT products comprising devices and services according to their requirements.
ABOUT KUMON EDUCATION (MALAYSIA) SDN BHD Kumon Education (Malaysia) Sdn Bhd is part of the largest established after-school enrichment programme in the world with over 4 million students currently enrolled across 50 countries and regions. Kumon Malaysia was formed in 1997 and is the country’s largest after-school enrichment programme providing learning of Mathematics and English through the Kumon Method.
DoJ and HKTDC led a delegation to advance the city’s role as an Asia-Pacific centre for international legal, dispute resolution services
To consolidate Hong Kong’s strategic position as a centre for international legal and dispute resolution services in the Asia-Pacific under the National 14th Five Year Plan, the Department of Justice (DoJ) of the Government of the Hong Kong Special Administrative Region and the Hong Kong Trade Development Council (HKTDC) are organising the Resolve2Win – Legal Services of Hong Kong, Opportunities for All campaign (Resolve2Win). The signature promotion in the Association of Southeast Asian Nations (ASEAN) and Guangdong-Hong Kong-Macao Greater Bay Area (GBA) for Hong Kong’s legal and dispute resolution services debuted with a delegation visit to Bangkok, Thailand on 15 to 17 March. Mr Horace Cheung, Deputy Secretary for Justice, led nearly 30 representatives from Hong Kong’s legal sector in face-to-face talks with Thai legal and business representatives to promote the advantages of Hong Kong legal services, encourage collaboration between Hong Kong and Thailand and seize opportunities in the region.
The Resolve2Win – Legal Services of Hong Kong, Opportunities for All campaign debuted in Bangkok, Thailand on 15 to 17 March Nearly 30 representatives from the Hong Kong legal sector join the delegation.
Dr Patrick Lau, Deputy Executive Director of the HKTDC, gave welcoming remarks
Mr Horace Cheung, Deputy Secretary for Justice gave the opening remarks
Encouraging Thai businesses to choose Hong Kong as a platform The promotion visit aimed to let Thai businesses understand the unique advantages of Hong Kong legal services more comprehensively, raising awareness on resolving commercial disputes through arbitration and mediation, while encouraging them to choose Hong Kong as their preferred trade and dispute resolution platform and help Hong Kong legal professionals seize opportunities and develop business in Thailand. Legal groups from Hong Kong and Thailand responded proactively. The Hong Kong Bar Association, Law Society of Hong Kong, Thailand Arbitration Center and Thai Branch of Chartered Institute of Arbitrators are supporting organisations.
At the plenary session – Hong Kong as a Deal Making and Dispute Resolution Hub – Mr Cheung and Dr Patrick Lau, Deputy Executive Director of the HKTDC, were officiating guests. In his welcome remarks, Dr Lau said: “Hong Kong has a large, well-established legal sector full of professionals well-versed in legal systems across the world, making the city the perfect choice for anyone seeking legal services. As business links grow between ASEAN countries and Mainland China, particularly the Greater Bay Area, disputes are bound to arise. All parties would agree that arbitration and mediation is a better approach than litigation. In today’s forum, we will find out how businesses in Thailand, ASEAN and Mainland China can use Hong Kong as a dispute-resolution platform.”
Highlighting the unique opportunities offered by Hong Kong as the only common law jurisdiction within China under “one country, two systems”, Mr Cheung pointed out that national strategies – including the 14th Five-Year Plan, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Development and the Belt and Road Initiative – had injected continuous impetus to the growth of Hong Kong and brought opportunities to ASEAN member states.
He further said that as the leading legal and dispute resolution services centre in the Asia-Pacific, Hong Kong had a strong pool of legal talents, particularly in dispute resolution services. He encouraged enterprises and talents to capitalise on Hong Kong’s unique advantages of enjoying the strong support of the motherland and being closely connected to the world under “one country, two systems” to tap into development opportunities in the GBA and beyond.
Mr Cheung reiterated that the National Security Law had provided stability and a secure environment to enterprises and investors, which was conducive for both local and international businesses in Hong Kong to flourish.
The plenary session was hosted by Mr Jose Maurellet, Senior Counsel, Des Voeux Chambers, Vice-Chairman of Hong Kong Bar Association, with panelists Ms Winnie Tam, SBS, SC, JP, Senior Counsel, Des Voeux Chambers and Mr Tommy Tong, Partner, Herbert Smith Freehills LLP. The speakers shed light on Hong Kong’s advantages in corporate and commercial legal services and illustrated why Hong Kong was an effective arbitration and mediation platform for resolving commercial disputes. They also provided practical tips for Thai businesses to handle cross-border commercial disputes, especially when Mainland Chinese parties were involved.
The next session, Mediate First Pledge, featured speakers Mr Rimsky Yuen, Chairman, Hong Kong Mediation Accreditation Association Limited, and Ms Ereblinda Sadiku, Legal Counsel, Thailand Arbitration Center. They focused on the flexibility and other advantages of mediation for dispute resolution. More than 10 Thai companies confirmed their willingness to deploy mediation before turning to other resolution methods, including litigation. The HKTDC also arranged a luncheon and interaction session where more than 200 legal representatives from Hong Kong and legal and business sectors from Thailand conducted in-depth discussions on the story in Hong Kong.
Networking for Hong Kong legal practitioners and Thai businesses During the three-day trip, the Hong Kong legal delegation paid a courtesy visit to legal and business groups, including Thai-Chinese Chamber of Commerce, Thailand Arbitration Center and Lawyers Council of Thailand to discuss potential collaboration.
After the Resolve2Win Campaign launch in Thailand, the HKTDC will continue to work with DoJ. The campaign will promote legal and dispute resolution services of Hong Kong in the GBA early next year, showcasing the robust legal system, solid foundation of the rule of law and diversified legal and dispute resolution services in Hong Kong while helping to better understand the views of mainland stakeholders and their needs towards Hong Kong’s legal and dispute resolution services.
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 and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Media Enquiries Please contact the HKTDC’s Communication and Public Affairs Department: Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Sleek smartwatch design packs a punch with its features catered to wearers’ active lifestyles
Zepp Health Corporation (Zepp), a leading smart wearable and health technology specialist, today launched the Amazfit GTR Mini of smartwatches in Malaysia packed with the super-sleek design and all-round functions of the GTR Mini.
Wu Jin, Amazfit General Manager of APAC
Forth from left Benky Lin, Country Manager of Amazfit Malaysia, Wu Jin, Amazfit General Manager of APAC, Law Kar Man, CEO of Comsat Distributions Sdn Bhd
Amazfit is the premium smart wearable hardware brand owned by Zepp that fuses fashion and innovative technology reflecting the personal style of wearers while at the same time allowing them to seamlessly connect their healthy and active lifestyles through a range of cutting-edge devices.
Amazfit General Manager of Asia Pacific, Wu Jin said, “The GTR Mini punches above its own weight, offering wearers the flexibility in style to go with their everyday lives, together with the fashionably sleek design and cutting-edge technology that Amazfit smartwatches are well known for. We are delighted to finally launch the GTR Mini in Malaysia as another addition to our range of smart wearables.”
The unique and compact round body of the Amazfit GTR Mini packs into a 9.2mm slim stainless steel middle frame and button with a mirror-polished finish, together with a skin-friendly silicone strap weighing a light 24.6g. Designed with practicality in mind, its minimalist style allows wearers to mix and match with various outfits while the HD AMOLED display offers a clear and vibrant visual experience with more than 80 watch faces, including the new portrait watch face, to match the mood and fashion of wearers.
With up to 14 days of battery life, wearers can go about their activities freely as the GTR Mini also comes with over 120 sports modes with smart recognition of seven sports, 5 satellite positioning system and 5 ATM water-resistance. Health-tracking features include blood-oxygen level measurements, heart rate and stress monitoring, sleep quality monitoring and menstrual cycles. The Zepp operating system 2.0, which comes with 16 mini apps including three new mini games, can help manage wearers’ work and life more efficiently.
The competitively priced Amazfit GTR Mini comes in Midnight Black, Misty Pink and Ocean Blue. The screen is made with 2.5D curved glass to enhance the rounded feeling and the anti-fingerprint coating also keeps the screen glass clean and bright.
The Amazfit GTR Mini is now available at a launch price at RM579, exclusively on Shopee for three days. It comes with a ONE year warranty and will retail at RM599 each after the launch.
Award-winning enterprises seize opportunities and forge ahead with good reputation
Quamnet Outstanding Enterprise Awards 2022 announced the awarded enterprises, with eight enterprises being awarded for nine accolades. The award has witnessed the steady and long-term development of the enterprise, that also receives strong support from the business community and the media.
The 14th Quamnet Outstanding Enterprise Awards: “Forging Ahead with Honour in Converging Opportunities”
Being a leading financial website in Hong Kong, Quamnet not only focuses on the financial field since established, but also the accomplishments of Hong Kong business community which attracts public attention. The Awards, instituted in 2009, is organized by Quamnet and aims to identify and recognize the excellent performance of Hong Kong enterprises.
The judging panel of QOEA is formed by the Quamnet editorial team, Quamnet research team, and independent financial analysts. Each nominated enterprise is required to submit their company profile and the self-evaluation report for assessment and selection. The committee will then use eight categories to select the most representative enterprises. The eight categories include excellent products and services, brand reputation, philosophy of operation, marketing strategies, sustainable development strategies, accomplishments, corporate social responsibility and unique business philosophy or development.
The 14th Quamnet Outstanding Enterprise Awards is themed by “Forging Ahead with Honour in Converging Opportunities”, not only does it recognize enterprises’ continuation in advancing with their long-standing strength and goodwill in times of challenges and difficult business environment, it also encourages enterprises to seize opportunities in post pandemic period to achieve long-term and stable development.
Awarded companies come from diversified industries in Hong Kong, including financial services, MPF services, ICT solution provider, logistics, transportation infrastructure, financial printing and trust services etc.
A total of 8 companies are being awarded this year with its outstanding achievement, including China Life Trustees Limited, CITIC Telecom International CPC Limited, Formex Financial Press Limited, Goldwater International Limited, Kerry Logistics, Realord Asia Pacific Securities Limited, Realord Group Holdings Limited, and Yuexiu Transport Infrastructure Limited.
Widely Supported by Honourable Guests, Business Community and Media
The accolades are announced on the Awards official website and trophies are to be distributed in a later date. Mr. Andy Chan, Managing Director of China Tonghai Financial Media Limited, said “in 2022 Hong Kong was still being affected by the COVID-19 pandemic and external environmental factors, making the road to normalcy full of uncertainties, meanwhile it creates and converges more opportunities for the post-epidemic era, enterprises are therefore reinvigorating to prepare for the dawn. As Hong Kong gradually unblocks the epidemic in early 2023 and reconnects with the world, I believe it will bring more good news to the business community. This year’s award then recognizes the enterprises that have been actively preparing for the new chapter of normalization in the past year, that set a positive example for the business community and embark the new journey with industry peers.”
Supported by elites and medias In addition to a strong lineup of guests, the Awards attracted numerous media both in Hong Kong and China. Media partners include The Standard and Caiguu.com etc.
Quamnet Outstanding Enterprise Awards 2022 (Alphabetical Listing by Company Name) Categories / Awarded Company 1. Best Pension Service Provider 2022 / China Life Trustees Limited 2. Outstanding MPF Scheme 2022 / China Life Trustees Limited 3. Outstanding ICT Solution Provider 2022 / CITIC Telecom International CPC Limited 4. Outstanding Financial Printing Services Enterprise 2022 / Formex Financial Press Limited 5. Outstanding Trust Service 2022 / Goldwater International Limited 6. Outstanding Green Logistics Service Provider 2022 / Kerry Logistics 7. Outstanding Securities Service Development 2022 / Realord Asia Pacific Securities Limited 8. Outstanding Diversified Integrated Enterprise 2022 / Realord Group Holdings Limited 9. Outstanding Investment and Development of Infrastructure 2022 / Yuexiu Transport Infrastructure Limited
NusaTrip, Indonesia’s first IATA-certified online travel agency (OTA) and the travel vertical of Nasdaq-listed Society Pass Incorporated (SOPA), today announces the opening of an office in Ho Chi Minh City, Vietnam, representing its third SEA regional office outside of Jakarta, following the opening of its offices in Singapore and Manila earlier this year.
Post the Covid-19 pandemic, Vietnam reopened its doors to international travelers back in March 2022, and since then domestic tourism has seen a strong recovery, receiving about 4 million international travelers last year. According to ASEANFocus, 16 million international tourists and 80 million domestic travelers are projected to spend US$34 billion total travel revenue from 2024 to 2026. In addition, Civil Aviation Authority of Vietnam also expects a full travel recovery by December 2023 with around 34 million passengers from Vietnam expected to travel internationally, tripling the travel volume from 2022.
With the aim of increasing its service portfolio across SEA as well as boosting tourism in Vietnam, NusaTrip is well-positioned to grasp the huge market potential and serve additional communities in the region. NusaTrip regional offices focus on creating more variety of marketing initiatives and managing existing business relationships with airlines, hotels and tourism promotion board as partners.
NusaTrip CEO Johanes (Joe) Chang said, “The opening of our office in Vietnam reaffirms our commitment to bring the unparalleled travel experience to more customers in one of the fastest growing regions throughout SEA. NusaTrip will continue to enhance its service portfolio and innovate to cater to changing customer behaviors and fuel growth in the region. Considering the market potential, NusaTrip also plans to open more offices across SEA to bring customers an intimate and one-stop booking experience”.
Leveraging the upbeat momentum of the travel and tourism industry post-COVID-19 pandemic, NusaTrip is striving to expand its service offerings in the travel market.
“We are beyond excited to welcome domestic and international travelers onboard our NusaTrip platform. With revenge travel in full swing, this additional choice for consumers is highly timely, especially for those who intend on visiting some of the 3,000 over beautiful islands in Vietnam. SEA is a dynamic and diverse engine of growth for NusaTrip. As recovery continues, we are optimistic towards the market in Vietnam”, explained Ngo Thi Cham, Society Pass Vietnam Country Manager.
Last year, Society Pass acquired NusaTrip, a Jakarta-based online travel agency to foray into the travel business in SEA. The deal also marked SoPa’s entry into Indonesia as well as to its growing ecosystem of technology-enabled companies located in Vietnam, Indonesia, Philippines, Singapore and Thailand.
About NusaTrip Founded in 2013, NusaTrip is an IATA-licensed online travel agency that serves both local and global customers and partners by optimizing cutting-edge technology and providing 24/7 customer-centric support team-as-a-service. NusaTrip is now an integral member of Society Pass (Nasdaq: SoPa) ecosystem. For more information, please visit: https://www.nusatrip.com.
About Society Pass Inc. Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.
SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.
Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.
Cautionary Note Concerning Forward-Looking Statements This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Group secures contract from JKR under Sarawak’s RM1 billion allocation for dilapidated schools
Civil engineering specialist Sarawak Consolidated Industries Berhad(SCIB) today announced that the Group’s wholly-owned subsidiary, SCIB Industrialised Building System Sdn. Bhd., has secured an engineering, procurement, construction, and commissioning (EPCC) contract from Jabatan Kerja Raya Sarawak (JKR) valued at RM20.65 million for the rebuilding of Sekolah Daif in Tebedu, Serian.
En. Rosland bin Othman, Group Managing Director and Chief Executive Officer of SCIB
The contract has a duration of 24 months and comes under the third phase of the Sarawak government’s RM1 billion allocation for dilapidated schools.
Rosland bin Othman, Group MD and CEO of SCIB (Link) Group Managing Director of SCIB, Encik Rosland bin Othman said, “This project from JKR is part of the nationwide programme to rebuild or renovate dilapidated schools, especially in rural areas where children already face challenges from lack of infrastructure. The Group’s construction arm has lots of experience in operating EPCC projects while our background as a specialist in small-to-mid-sized rural infrastructure works covering roads to schools and hospitals ensures that we are well-versed in projects of this nature.”
“The Group will continue to seek projects where we can leverage our expertise as the leading precast concrete and IBS manufacturer in East Malaysia. There are opportunities for us under the recently re-tabled Budget 2023, in which Sarawak was allocated RM5.6 billion and Sabah allocated RM6.5 billion. We also note with interest the RM920 million set aside for dilapidated schools in both states.”
Company acquires majority stake in football club from KLFA
Rinani Group Berhad, a financial consulting firm, is pleased to announce that the Company has signed a share sale agreement (SSA) with the Kuala Lumpur Football Association (KLFA) to acquire a majority stake in Kuala Lumpur City FC Sdn Bhd (KLFC), the owner of the KL City FC (KLCFC) football club.
KLFA president Khalid Abdul Samad; Political Secretary to the Prime Minister, Azman Bin Abidin; Stanley Bernard, Managing Director of KLCFC; Datuk Seri Noor Azerai Ahmad; Rinani director Azri Azerai[L-R]
KLFA president Khalid Abdul Samad; Political Secretary to the Prime Minister, Azman Bin Abidin; Stanley Bernard, Managing Director of KLCFC; Datuk Seri Noor Azerai Ahmad; Rinani director Azri Azerai[L-R]
Rinani director Azri Azerai said, “The SSA officially makes Rinani the majority owner of KLFC. We pledge to bring KLCFC’s performance on the pitch to a higher level by concentrating on coaching, player recruitment and youth development and we promise our fans better engagement and experience for their money’s worth. Besides the game, we will also focus on enhancing the revenue stream for KLFC for it to be sustainable and continue maintaining the club.”
“We would like to thank the KLFA for all that they have done over the years for the club and we will build on this to bring KLCFC to the next level. We will work towards having more corporate tie-ups and sponsorships for the club to be financially sustainable as well as ensure training levels that can bring the club to the international stage. We also would like to thank the Prime Minister, YAB Datuk Seri Anwar Ibrahim, for his support for our venture and for encouraging the growth of Malaysian football.”
KLFA president Khalid Abdul Samad said, “This is a historic day for KLCFC with majority ownership of KLFC passing over to Rinani. The privatisation of the club is in the best interests of all that involved in the sports of football, including the players, supporters, sponsors and vendors that have been closely associated with the club over the years. Best wishes to not only KLCFC and Rinani Group, but also KLFA.”
Political Secretary to the Prime Minister, Azman Bin Abidin said, “The privatisation of state-run football teams is vital for the further development of the game as this will ensure that clubs have access to the expertise and knowledge that the private sector can provide. It is also vital that the private sector run the football clubs professionally with good governance as this will assist in ensuring financial viability for youth development and player recruitment.”
Stuart Ramalingam, CEO of Malaysian Football League said, “The continued privatisation of football clubs in the country will benefit all stakeholders, especially the players as their welfare will be better taken care of. There will be more transparency in how the clubs are run and finances managed. Professional management of the clubs is important as this will mean the need to engage with supporters, improve performance and offer a better product.”
Rinani’s acquisition of a majority stake in KLFC is also in line with the directives from FIFA, football’s international governing body, and of the Asian Football Confederation, to have state-run football teams be professionally run, privately financed and independently owned.
Top-notch artisanal treasures attract buyers from across the globe
Social distancing measures came to an end, as the mask mandate was officially lifted today, expediting the recovery of business activities between Hong Kong, Mainland China and the rest of the world.
The 39th Hong Kong International Jewellery Show and the 9th Hong Kong International Diamond, Gem & Pearl Show, organised by the Hong Kong Trade Development Council, open today at the Hong Kong Convention and Exhibition Centre in Wan Chai.
The Hon Cheuk Wing-hing, Deputy Chief Secretary for Administration of HKSAR (front row, 5th from L) ; Dr Peter K N Lam, HKTDC Chairman (front row, 6th from L); Margaret Fong, HKTDC Executive Director (front row, 7th from L) and guests attend the opening ceremony of the 39th Hong Kong International Jewellery Show and the 9th Hong Kong International Diamond, Gem & Pearl Show.
The Hong Kong International Diamond, Gem & Pearl Show offers a wide range of raw materials for jewellery and treasures
The 39th Hong Kong International Jewellery Show and the 9th Hong Kong International Diamond, Gem & Pearl Show, organised by the Hong Kong Trade Development Council (HKTDC), are the first major trade fairs being held at the Hong Kong Convention and Exhibition Centre in Wan Chai after the territory returns to normalcy. The twin shows run from today until 5 March.
The opening ceremony of the twin jewellery shows was held this morning with Deputy Chief Secretary for Administration, The Hon CHEUK Wing-hing, GBS, JP, as the guest of honour. Speaking at the ceremony, Mr Lawrence Ma, Chairman of the Fairs’ Organising Committee, said: “The twin jewellery shows are the first major international trade event since the complete lifting of anti-epidemic measures, projecting a gradual recovery of economy and trade between Hong Kong, the Mainland and the rest of the world. I hope the shows will create more business deals and collaboration opportunities for global exhibitors.”
Keen participation from the Mainland and overseas exhibitors With the global economy moving towards normalcy, both mainland and overseas exhibitors are enthusiastic to participate in this year’s shows, with over 2,500 exhibitors from 36 countries and regions. The HKTDC has also organised 100 buying missions from 70 countries and regions. A total of 20 pavilions have been set up – including those from the mainland, Taiwan, Japan, Korea, Singapore, Sri Lanka, Thailand, India, Turkey, Israel, Germany, Italy, Belgium, Brazil, Colombia and the United States.
Renowned jewellery industry organisations, such as the Asia Pacific Creator Association, International Colored Gemstone Association, Tanzanite Foundation and T-GOLD+METS Pavilion – co-organised by the Hong Kong Jewellery & Jade Manufacturers Association and the Italian Exhibition Group – also return, signalling the confidence of international companies in Hong Kong as a business platform.
Seventeen themed zones gather world-class jewellers Exhibitors value the first trade fairs after the pandemic and bring a wide range of valuable and unique jewellery items to both shows. This year’s Hong Kong International Jewellery Show features 17 themed zones, including the Hall of the Extraordinary, Hall of Fame, Designer Galleria and World of Glamour, which showcases jewellery from local brands. A number of jewellers present high quality and distinct jewellery, including an exquisite jadeite bead necklace (On Tung Company, booth no: GH-C10); a classic elegant Burmese ruby ring (Fai Dee Limited, booth no: GH-C31); and a uniquely-crafted zodaria bracelet, a panther-shaped diamond bracelet in gold (Nico Juliany SL, booth no: GH-G03).
Also featured at the show is the 21st Hong Kong Jewellery Design Competition Open Group award-winning pendant in 18K gold, diamonds, rubies and sapphires (Charente Fine Jewelry, booth no: 1CON-008). Additionally, a Korean exhibitor has brought along a magnificent brooch inspired by the natural bracken plants of Jeju Island (Gina Fine Jewelry Creator, booth no: 1CON-024), highlighting the refined, beautiful wares with sophisticated craftsmanship.
The Hong Kong International Diamond, Gem & Pearl Show, held at the same time as the Jewellery Show, showcases the finest diamonds and pearls as well as quality gemstones and raw materials for jewellery from various origins in the Hall of Fine Diamond, Treasures of Nature and Treasures of Ocean. The show features natural coloured diamonds with cushion, oval pear, heart cuts and premium black opals from the Lightning Ridge in northern New South Wales, Australia; drop-shaped and hole-drilled emeralds; Canadian Ammonite and Ammolite; Mexican fire opals and various pearl products.
Various seminars and forums to facilitate business exchange A number of seminars, forums and parades will be held during the twin jewellery shows to facilitate networking and keep participants abreast of the latest industry trends. These include a seminar titled “Hong Kong Jewellery Industry Shines over the World” and a buyer forum on “Updated Market Trend of Jewellery Market in ASEAN Markets” tomorrow (2 March). There will also be seminars on “Ammolite – A 71 Million-Year Natural Treasure only from Alberta, Canada” (3 March) and “Jewellery Industry: Go Smart and Green” (4 March) and more.
The results of the 24th Hong Kong Jewellery Design Competition – which aims to raise the standard and quality of jewellery design, and to cultivate local creative talents – have been recently announced. The winning entries are currently displayed outside Hall 1E.
Twin jewellery shows run under the EXHIBITION+ online and offline hybrid model As the pandemic accelerated the adoption of e-commerce, jewellery retailers are increasingly using social media and e-platforms to promote their brands and expand sales channels. To help companies adapt to the new normal, the HKTDC’s EXHIBITION+ hybrid model combines physical fairs, the Click2Match smart business-matching platform, online-to-offline seminars and forums (Intelligence Hub), and the hktdc.com Sourcing platform. EXHIBITION+ extends face-to-face interaction and promotion activities from physical exhibitions to online.
The Click2Match smart business-matching platform for both jewellery shows is accessible from 1 to 12 March, allowing both buyers and sellers an extended period to meet online beyond the physical fairs to facilitate further collaboration.
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 and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Media enquiries Please contact the HKTDC’s Communications & Public Affairs Department: Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org
