Society PassIncorporated (Nasdaq: SOPA) (SoPa or the Company), a leading Southeast Asian data-driven loyalty platform, today announced the pricing of its underwritten public offering of 3,030,300 shares of common stock and accompanying warrants to purchase up to 3,030,300 shares of common stock. Each share of common stock is being sold together with one warrant at a combined purchase price of US$3.30. The warrants will be immediately exercisable at a price of US$3.30 per share and will expire five years from the date of issuance. The shares of common stock and accompanying warrants can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance. The warrants will not be listed on any exchange. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately US$10 million.
The Company has granted the underwriters a 45-day option to purchase up to 454,545 additional shares of common stock and/or additional warrants to purchase up to an additional 454,545 shares of common stock at the public offering price to cover over-allotments, if any. The offering is expected to close on February 11, 2022, subject to customary closing conditions.
Maxim Group LLC is acting as sole book-running manager for the offering. A registration statement relating to the Shares was declared effective by the SEC on February 8, 2022. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Society Pass SoPa’s customer loyalty and analytics platform has onboarded hundreds of thousands of registered consumers. SoPa provides merchants with SoPa.asia – an online commerce platform for users, alongside with #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user’s profile analytics, and convenient financial support packages for small and medium-sized enterprises. All tools offered above will allow businesses to attract and retain customers through personalized interaction based on analytics with a high profit margin. SoPa also operates www.leflair.com, Vietnam’s leading lifestyle e-commerce platform. For more information, please check out: http://thesocietypass.com/
Forward-Looking Statements The information contained herein may contain “forward-looking statements.” Forward-looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of the Company concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
EuroEyes Acquires 100% Issued Shares in London Vision Clinic Partners Limited
Create New Synergy to Support the Long-term Growth of the Group
EuroEyes International Eye Clinic Limited(EuroEyes or the Company, together with its subsidiaries, the Group, stock code: 1846), a leading global vision correction service provider, is pleased to announce that EuroEyes UK, a wholly-owned subsidiary of the Company, has entered into a Share Purchase Agreement (Share Purchase Agreement) to acquire the entire issued shares in London Vision Clinic Partners Limited (LoVC) with the legal and beneficial owners of LoVC (Sellers).
According to the share purchase agreement, the total cash consideration and consideration shares for the acquisition shall be GBP13,130,000; the maximum amount of earn out payment shall be GBP17,745,000, and subject to the Consideration Adjustment. The maximum consideration for the Acquisition shall be GBP 30,875,000. In terms of earn out payment, under the first profit target, if the Seller maintains an EBIT growth of 12.5% for four consecutive years, EuroEyes shall procure the allotment and issue to the Seller such number of shares having an aggregate value of up to GBP3,120,000; Under the second profit target, if the Seller achieves an EBIT growth rate of 35% for three consecutive years, and 25% in the fourth year, Euroeyes shall pay GBP 9,750,000 to the Seller.
Upon Completion, the Seller (or the Partners as nominated in accordance with the terms and conditions of the Share Purchase Agreement) will hold approximately 1.20% of the issued share capital of EuroEyes as enlarged by the allotment and issue of the Completion Consideration Shares. The Completion Consideration Shares will be issued at the issue price of HK$8.323 per Completion Consideration Share which represents a discount of approximately 6.9% to the average closing price of HK$8.94 per Share as quoted on the Stock Exchange on the five consecutive trading days ended on the trading day immediately preceding 20 January 2022. The shareholding will serve as an share incentive to motivate and retain London Vision Clinic’s partners and key surgeons.
London Vision Clinic Partners Limited is one of the leading brands in the vision correction industry and principally engaged in the provision of premium vision correction services, including PRK, LASIK, SMILE, phakic lens (ICL) surgery and refractive cataract surgery. It has been the market segment and price leader in the UK with its capabilities in conducting detailed and comprehensive testing and diagnosis and has a world reputation for expertise in providing training to specialist surgeons and managing complicated cases.
Moreover, LoVC is a world leader in offering laser vision correction option for reading vision in ageing eyes (presbyopia). Its founder, Professor Dan Zoltan Reinstein, has garnered worldwide reputation for his inventions and major contributions to the refractive surgery field, including the invention of the PRESBYOND Laser Blended Vision treatment as commercialised by Carl Zeiss Meditec for presbyopia which is designed to treat patients from the age of 40 years old, who have developed presbyopia (decreased ability to read up close). PRESBYOND provides an additional method of treating younger patients with presbyopia by a LASIK procedure, which avoids the need to perform surgery inside the eye to replace the natural lens. Presbonyd will a perfect addition to EuroEyes’ trifocal lens exchange surgery, which enables EuroEyes to treat a larger group of presbyopia patients over 40 years old without buying new equitments.
In addition, London Vision Clinic has a talent pool of high-quality surgeons and doctors. Upon completion of the Acquisition, EuroEyes will continue to hire the expert group to further strengthen its medical expertise. What’s more, Professor Reinstein will serve as a medical director of the international medical advisory board of the Group, which will add tremendous value to EuroEye’s expert team.
Professor Reinstein is also a bioengineering pioneer, inventor and developer in the field of layered corneal mapping and imaging and biometry. He had pioneered corneal imaging and biometry with very high-frequency digital ultrasound scanning, invented the Arcscan Insight 100 robotic scanner as well as optical coherence tomography (OCT) devices, enabling superior diagnostic capabilities to improve the safety and accuracy of both laser corneal and ICL surgery. Application of his patented biometric technologies has resulted in major contributions to the clinical and scientific development of both LASIK and SMILE.
Moreover, London Vision Clinic Training, a wholly-owned subsidiary of LoVC, will start business afer acquisition, and will be principally engaged in the provision of online and offline training relating to refractive surgery. Professor Reinstein will be one of the key speakers and trainers at London Vision Clinic Training.
In addition, in terms of the financial position of the target company, London Vision Clinic Partners Limited has shown strong growth potential, with a substantial increase in EBIT from GBP 94,000 in 2020 to GBP 2.19 million in 2021. This growth is mainly due to the proactive optimizations and improvements in its business model and operation management made by LoVC started in early 2021.
Dr. Jorn Slot Jorgensen, Founder, Chairman and CEO of EuroEyes said, “The Group has been actively expanding its current footprint in Europe and the acquisition of LoVC is definitely in line with our growth strategy. We believe that the acquisition will enable the Group to quickly tap into the high-end London market for refractive and presbyopic surgeries, create synergy and support the long-term growth of the Group, thereby enhancing its market leader status. With the additions of LoVC and its PRESBYOND Laser Blended Vision treatment, the Group will be able to reach out to more potential patients who are suffering from presbyopia at an early stage. Following the acquisition of LoVC, we plan to open a new clinic in London within 1-2 year, to further expand our service network and provide more patients with high-quality eye care services.”
About EuroEyes International Eye Clinic Limited EuroEyes was established in 1993 and is one of the leading brands in the vision correction industry that combines German ophthalmology excellence and over 25 years of experience with individualised customer care. EuroEyes is one of the few eye clinic groups with a far-reaching geographical coverage, with operations in Germany, Denmark and the PRC. The Group’s vision correction services include (i) refractive laser surgery (which includes ReLEx smile and Femto LASIK); (ii) phakic lens (ICL) surgery; (iii) lens exchange surgery (which includes the monofocal and trifocal lens exchange surgery) and (iv) others (which include PRK/LASEK and ICRS implantation).
Issued by Porda Havas International Finance Communications Group for and on behalf of EuroEyes International Eye Clinic Limited. For further information, please contact:
Singapore mainboard listed Silverlake Axis Ltd. (SGX:5CP) (SAL or the Group), the ASEAN market leader in core banking software, today, announced an expansion to the partnership with Silkbank Limited (Silkbank), a leading commercial and Islamic bank in Pakistan. Through the latest agreement, Silkbank will upgrade its card management suite to use Silverlake Axis’s latest platform, Silverlake Symmetri OmniCard V6.
OmniCard is an internationally certified card management system that allows banks to run flexible and secure operations including issuing and acquiring of all types of credit, debit and prepaid cards, ATM management, 3D secure e-commerce transaction processing, management of fraud, disputes, and cardholder’s loyalty. This latest move further strengthens Silverlake Axis’s leadership position within Pakistan’s credit card market, where it currently commands over 80 percent market share. It also allows Pakistan’s and the region’s banks to tap into Silverlake’s award winning technologies to grow their card footprint, and in the process, better cater to their customers.
Gyorgy Ladics, CEO Silverlake Symmetri, commented: “We are immensely proud of the deep and long-standing partnership we have forged with Silkbank. Moreover, Pakistan continues to establish itself as a fast-growing market with huge potential for building its credit card market and we are very optimistic about its growth. To that extent, the trust Silkbank has placed in us is a true honor, and as we continue this exciting journey together, we are confident that this trust will see strong returns.”
Nabeel Malik, Executive Director – Strategy Implementation & Ops/Admin/IT/CSQ at Silkbank, commented: “Silverlake has been a trusted partner to Silkbank for 9 years. The in-depth experience, system understanding, and professionalism of Silverlake team has been invaluable to us. As we continue to transform and advance the banking landscape in Pakistan, their partnership and vast expertise will be a key factor in us growing with confidence.”
With over 30 years of experience and a breadth of expertise across industries, Silverlake Axis creates technologies to empower businesses in the digital economy, transforming industries like banking, insurance, retail, and logistics. Silverlake Symmetri OmniCard is a universal card and payment management system, designed to help both acquiring and issuing institutions to run efficient, secure and profitable operations. With Silverlake Symmetri OmniCard, banks can reduce time to market for new card products while at the same time offer excellent service to drive loyalty across the customer base. The solution also enables them to cross-sell and up-sell, while reducing fraud and risk, and ensuring regulatory compliance.
“With Silverlake Axis already issuing 80% of cards in the market, Silkbank’s partnership to deploy our credit card solutions only solidifies our leadership position in Pakistan. However, it’s only one step in our growth plan. We are seeing strong opportunities across the MENA, South and Southeast Asia regions with our Islamic and retail banking partners as well,” added Ladics.
About Silverlake Axis Silverlake Axis Ltd. (“SAL”) is a leading enterprise technology, software and services company focused on financial services and serves 40% of the top 20 largest banks in South East Asia. Founded in 1989, SAL has an impeccable track record of successful delivery of innovative and transformative solutions to its enterprise customers and their ecosystems. The Group has more than 380 enterprise customers in over 80 countries across Asia, Europe, Middle East, Africa and the Americas.
Under Axis Systems Holdings Limited, SAL was listed on the SGX-SESDAQ on 12 March 2003. It was renamed Silverlake Axis Ltd in 2006 and the listing was transferred to the Mainboard of the Singapore Exchange on 22 June 2011. For more information about SAL, please visit www.silverlakeaxis.com.
A series of Chinese New Year activities lined up with up to S$40,000 worth of gold to be won
The Year of the Tiger is a special year for Tiger Brokers and in the spirit of celebrating the Lunar New Year, the retail trading platform is launching a Chinese New Year campaign, Gold Xi Fa Cai, with a series of exciting activities and attractive rewards such as gold giveaways for new and existing users.
Tiger Brokers Celebrate the Year of the Tiger with Gold and More
Gold Xi Fa Cai From now till 6 February 2022, Tiger Brokers will be giving away Chinese New Year gifts ranging from collectible Tiger Brokers figurines, limited edition Red Packets, Tiger merchandise such as notebooks, laptop sleeves and more at its Chinatown pop-up store located on Smith Street. To participate in the giveaway, customers can make their way down to the pop-up store to register an account and download the Tiger Trade APP, after which they can spin the Lucky Wheel and stand a chance to win the exclusive merchandise. Existing Tiger Trade users can also participate in this giveaway and just need to show their APP to spin the wheel, it is as easy as that! There will also be a photo taking session with Tiger Brokers’ mascot as well as free balloons for kids at the pop-up store!
With a total prize of S$40,000 worth of gold, the Gold Xi Fa Cai online giveaway will take place from 14 February to 28 February 2022. New and existing users stand a chance to walk away with up to S$12,888 worth of gold by making their first trade with Tiger Brokers or referring a friend to open an account with a minimum deposit, subject to terms and conditions.
Eng Thiam Choon, Chief Executive Officer of Tiger Brokers (Singapore), shares: “At Tiger Brokers, we are constantly striving to provide the best trading experience possible to our users, while keeping up with the latest trends to tailor our products and services to meet investor demand and evolving customer behaviours. With social media being so rampant and more young investors emerging, this gives us the blueprint to focus on enhancing our platform and features as we embark on their trading and investment journey together. So far, we have seen a 660% increase in accounts opened and a 780% increase in accounts funded on Tiger Trade in 2021.”
Please visit the website for more information on how to participate in the Gold Xi Fa Cai lucky draw. Usher into the year of the tiger and kick start new ways of investing with Tiger Brokers.
About Tiger Brokers (Singapore) Pte Ltd. Tiger Brokers (Singapore) Pte Ltd (“Tiger Brokers (Singapore)”) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade – available on both online and mobile app (Apple App Store and Google Play Store) offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. Its online and mobile app trading platform, Tiger Trade, offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates.
Through Tiger Trade, Tiger Brokers (Singapore) offers retail investors in Singapore access to six global exchanges in the US (NYSE, NASDAQ), China (Shanghai/Shenzhen-Hong Kong Stock Connect), Hong Kong (HKEX), Singapore (SGX) and Australia (ASX), with access to investment offerings such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), and US-listed over the counter (OTC) equities, and Fund Mall.
Tiger Brokers (Singapore) is the Singapore entity of UP Fintech Holding Limited (NASDAQ: TIGR), known as “Tiger Brokers” in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in the U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded “2017 Fintech 250” by CB Insights and shortlisted for “China Leading Fintech 50” for two years in a row by KPMG China. The company was listed on NASDAQ under “TIGR” in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 1.7 million customers worldwide currently, with a total trading volume exceeding USD92.6 billion in Q3 2021. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg
For media enquiries, please contact: PRecious Communications for Tiger Brokers (Singapore) Email: Tiger@preciouscomms.com
This advertisement has not been reviewed by the Monetary Authority of Singapore. Any views shared with Prospective Clients (“Prospects”) are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects’ investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers in not in a position to verify.
Tiger Brokers (Singapore) Pte Ltd (herein “Tiger Brokers”) may, to the extent permitted by law, participate or invest in other transactions with the issuer of the products referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. The information herein is for recipient’s information only and not an offer to sell or a solicitation to buy. Any date or price information is indicative only and may be changed without prior notice. All opinions expressed and facts referred to herein are subject to change without notice. The information herein was obtained and derived from sources that we believe are reliable, but while reasonable care has been taken to ensure that stated facts are accurate and opinions are fair and reasonable, Tiger Brokers does not represent that it is accurate or complete and it should not be relied upon as such. The information expressed herein is current and does not constitute an offer, recommendation or solicitation, nor does it constitute any prediction of likely future stock performance. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person or affiliated companies. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances. Tiger Brokers assumes no fiduciary responsibility or liability for any consequences financial or otherwise arising from trading in securities if opinions and information in this document may be relied upon.
The Myanmar Government said today it has approved USD 3.82 billion equivalent* in foreign investments and USD 651 million equivalent in domestic investments in the first year since the State Administration Council (SAC) took office. The investment commitments underscore confidence in the country’s economic potential amid a return to national stability and efforts to increase vaccination rates to contain the COVID-19 pandemic.
The Ministry of Information (MOI) and the Ministry of Investment and Foreign Economic Relations (MIFER) released the latest investment figures for the country for the period between 1 February 2021 – when a Proclamation was issued – and 20 January 2022.
The SAC was formed on 2 February 2021, a day after the Proclamation was issued after the failure to settle the issue of voter list fraud and malpractices in the 8 November 2020 elections, and to postpone parliament sessions. A state of emergency was declared in accordance with Article 417 of the 2008 Constitution of Myanmar.
Despite destruction of public property, attacks on Government personnel and attempts to sabotage the domestic economy by the so-called People’s Defense Force – with clear support from foreign elements – the SAC had largely restored national stability by the second half of 2021.
Myanmar faced a second crisis, a health pandemic that arose from the outbreak that was first detected in the country in March 2020. However, due to intense efforts to contain COVID-19, schools, universities have reopened, and most commercial activities have resumed in recent months with the vaccination of at least 60% the country’s population (above 18 years) to date.
The MOI and MIFER said among the 50 domestic (citizens’) investments approved in the past year, seven were for projects in the services sector with investment value of USD 427.34 million equivalent and 29 were for manufacturing projects with investment value of USD 74.58 million equivalent. The mining, power and construction sectors also attracted sizeable citizens’ investments during this period.
Foreign investments approved in the past year included a USD 2.5 billion project to construct a liquefied natural gas (LNG) power plant, the two Ministers said.
The People’s Republic of China (PRC), apart from being the largest trading partner of Myanmar, is the largest foreign investor in the country. Among the non-PRC foreign investments approved in the past year were one from Japan (USD 516.43 million), four from Singapore (totaling USD 442.20 million), two from Thailand (totaling USD 75.50 million) five from South Korea (totaling USD 66.17 million) and seven from Hong Kong (totaling USD 60.09 million).
The Government estimates that the foreign investments over the past year led to the creation of 25,383 new jobs while domestic investments added a further 11,879 new jobs, or a total of 37,262 jobs.
Myanmar Government is accelerating efforts to improve trade flows with and investments from countries such as Russia that, until recently, have not been among its leading economic partners. Prior to the pandemic, which curtailed business travel and activities, Myanmar-Russia bilateral trade had increased 30% in FY2019-2020 (November to October) compared to the year earlier.
Despite the challenges of the pandemic Myanmar and Russia are actively formulating a Bilateral Strategy for Development of Economic Cooperation. The latter has already led to a first virtual business matching session attended by dozens of business leaders from both countries last September. A second such virtual session will be held on 31 January 2022.
The two countries, which signed an Inter-Governmental Joint Commission for Trade and Economic Cooperation in August 2014, plan to hold its third Joint Commission meeting, physically, in Nay Pyi Taw in the near future. Russian corporations have invested USD 94 million in Myanmar, mostly in the oil and gas sector, and the country currently ranks 22nd out of 52 foreign investors. Myanmar Government will support the extension of Russian investment interest to sectors such as mineral processing, solar energy, railway and ICT, aviation, automobiles and tourism.
“Economic recovery is a major priority as the country recovers from two crises and prepares for multi-party elections to be held by August 2023,” said MOI Minister Mr. Maung Maung Ohn and MIFER Minister Mr. Aung Naing Oo in their joint statement.
“Due to good weather, Government financial support such as concessionary loans, and the relatively low impact of the pandemic compared to other sectors, the agriculture, fisheries and livestock sectors are reporting healthy growth. As workers return to workplaces in the past few months, the influx of new domestic and foreign investments will also contribute to job creation,” they said.
These factors along with national stability and improved vaccination rates will help Myanmar register a modest economic recovery in 2021-2022 after a single-digit contraction of its Gross Domestic Product in 2020-2021 – which is less dire than forecasts of some international economists.
“While certain quarters of the international community publicly discourage economic cooperation with Myanmar, the country continues to record substantial trading volume as well as domestic and foreign investments. Many of our foreign partners choose to work quietly with us, fully recognizing Myanmar’s economic potential as well as its unique challenges,” the two Ministers said.
“We have shared with foreign partners our efforts to deal with economic sabotage in the form of attempts to boycott Government revenue, shake confidence in financial institutions and destabilise the kyat. Despite these challenges, our Ministries and Government departments have been working diligently away from public glare to increase trade and investment flows,” they added. “These efforts have clearly borne fruit and we seek to increase such activities domestically and with foreign partners.”
* All equivalents based on exchange rate of approximately USD1.0 to 1,771 kyat as at 26 January 2022.
Trintech Adra expands its partnership with Microsoft by announcing its newest integration into Microsoft Dynamics 365 Business Central.
Trintech, a leading global provider of integrated Record to Report software solutions for the Office of Finance, expands its partnership with Microsoft by announcing its newest integration into Microsoft Dynamics 365 Business Central. This expanded partnership makes Trintech’s Adra Suite the only financial close solution with a certified Microsoft Dynamics 365 Business Central Connector and builds upon its already existing portfolio of Microsoft Connectors to support any Microsoft Dynamics customer regardless of version, past or present and on-premise or in the cloud.
With Microsoft playing a central operations role for thousands of companies, older versions of AX, Navision (NAV), Solomon, and Great Plains remain the daily lifeblood of these companies. Trintech integrates into every Dynamics version to enable current operations, while also providing for the future as organization’s migrate to newer Dynamics platforms.
“We are excited to announce our expanded partnership with Microsoft with the addition of our certified Microsoft Dynamics 365 Business Central connector,” said Darren Heffernan, President, Mid-Market at Trintech. “This additional integration builds upon our previous integration into Microsoft Dynamics 365 F&O and now positions our Adra Suite as the ‘go to’ financial close solution for Microsoft Dynamics customers. This partnership will provide customers with one seamless experience that will increase efficiency and accuracy while simultaneously reducing the cost and risk across their financial close process.”
Just a few of the many benefits finance & accounting departments will gain include:
Visibility across all tasks in the financial close process
Control and automation of reconciliations
Shortened close cycle through efficiency gains
Automated notifications of balance changes throughout the close
Reduction in write-offs
Currently deployed by over 1,800 clients across the globe, the Adra Suite provides cloud-based, financial close and reconciliation solutions for companies looking to quickly increase the efficiency, control and visibility for all key areas of the financial close process including: balance sheet reconciliations (Adra Balancer), transaction matching (Adra Matcher), financial task management and controls (Adra Task Manager), and reporting (Adra Analytics).
Learn more about Trintech’s integrations into Microsoft Dynamics 365 Finance and Microsoft Dynamics 365 Business Central.
About Trintech Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company’s cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.
Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.
Profit after tax jump by 2,350%, quarter on quarter Key Financial and Performance Highlights (Q3FY2022 vs Q3FY2021):
Profit after tax at RM19.6 million, up by 2,350%
Revenue at RM65.3 million, up by 98.5%
Profit after tax margin at 30.0%, up by 27.6%
Technology leader in providing fully customised, intelligent manufacturing automation solutions, Genetec Technology Berhad announced their best financial quarter to date for their third quarter ended 31 December 2021 (Q3FY2022). The Company recorded a 2,350% growth on their quarter on quarter (QoQ) profit after tax (PAT) performance, with an increase of RM18.8 million for the said quarter to RM19.6 million, compared to RM0.80 million registered for the corresponding quarter (Q3FY2021) due to higher revenues and managed costs.
For the same quarter, Genetec’s profit before tax (PBT) stood at RM21.0 million which is higher by 19.3% than the RM17.6 million posted in their second quarter (Q2FY2022), due to higher sales whilst costs remained stable. Revenue for the quarter stood at RM65.3 million, an increase of 98.5% QoQ, and a 10.1% increase over the preceding quarter Q2FY2022, bringing the annual total to RM164.9 million for the 9 months ending 31 December 2022 (9MFY2022). Earnings per share stood at 34.53 sen (fully diluted) in Q3FY2022 compared to EPS of 2.06 sen in Q3FY2021.
For the nine months of the financial year ended 31 March 2022 (9MFY2022), the Company recorded 2,656% higher PAT of RM44.1 million compared to the corresponding period of the previous financial year of RM1.6 million (9MFY2021). PBT for 9MFY2022 stood at RM47.5 million, which is 2,694% higher than the PBT of RM1.7 million while revenue is 96.3% higher at RM164.9 million compared to RM84.0 million of the corresponding period.
Genetec highlighted in their announcement, “We continue to progress with our plans. Earlier this month we concluded our Bonus Issue exercise announced on 25 October 2021 with the listing of the new issue of securities or 629,503,200 bonus shares (effective 11 January 2022) on the ACE Market of Bursa Malaysia Securities Berhad. In addition to rewarding our existing shareholders and improving share liquidity, we hope to encourage greater local retail participation.
Looking ahead, we continue to build on the electric vehicle (EV) and energy storage division and expect it to remain a significant and growing contributor to our overall performance. This growth will be driven by regional and worldwide demand as countries and businesses step up their efforts towards achieving the zero-emissions target set for 2050. Industries immediately impacting our business are those in transport and energy, both retail and industrial, as everything from day-to-day energy needs for both retail and commercial, heavy industry vehicles and machinery, public transport to e-scooters turn electric.”
Genetec also cited The Economic Intelligence’s ‘Automotive in 2022’ research report outlook for global sales of new vehicles that is expected to rise by 7.5% in 2022, surpassing 2019 levels. Prospects for the global sales of new EVs will continue to soar, rising by 51%, with Asia and North America leading the recovery. Whilst new emission rules will force transport vehicle makers and businesses to make far-reaching decisions about their energy sources and fossil-fuel models, this shift is also well supported by the growing number of policies to incentivise greater efforts towards renewable energy vehicles and generation. On a corresponding topic, Nasdaq expects energy storage to potentially emerge as the hottest market of 2022 as the trends advance over the course of the year.
Building on the momentum gained, Genetec’s 11 January 2022 announcement of their Memorandum of Understanding (MoU) with Thailand-based Asia Precision Public Company Limited (APCS) signals the Company’s efforts to diversify its client base and growth strategy through greater exposure to the Thai and ASEAN markets. Plans are in the works to collaborate and conduct a feasibility study in relation to the potential development of a factory automation facility for energy storage system (ESS) in Thailand. The study will include but will not be limited to the economic, financial, technical, and legal feasibility for the most appropriate structure and details of the project.
Genetec concluded, “We continue to remain cautiously optimistic but vigilant as businesses and economies continue their fragile recovery after being battered down over the two-year pandemic. Adoption of technologies and automation across different industries are expected to continue as businesses seek greener solutions, to greater efficiencies and reliability in their production lines. The knock-on effect of technology adoption is the demand for storage, data, and intelligence, which will drive the potential of the global hard disk drive (HDD) market. Genetec expects growth for the segment to continue by 5.11% for the period of 2021 to 2026 due to data storage requirements, the booming laptop market and digitalisation.”
Please contact the below for more information: Hakim Juraimi Tel: +60 12-318 5410 Email: h.juraimi@swanconsultancy.biz
Global XETFs, a leading global provider of exchange-traded funds (ETFs), today announced its market outlook for 2022.
With peak liquidity reached, Global X ETFs expects the market to pay closer attention to fundamentals as markets are likely to be more selective in 2022. On the other hand, the convergence of several disruptive technologies such as robotics, artificial intelligence (AI), mobility, digital economy as well as blockchain, is creating unprecedented opportunities.
Updated guidance and sentiments from the US Federal Reserve on inflation expectations and the speed and trajectory of tapering and interest rate increases are likely to dominate sentiment in equity and fixed income markets. Inflation is likely to remain elevated until mid-2022 while supply chains normalize.
The Omicron variant adds a new wrinkle in the fight to control the virus, and may dominate market sentiment in the near term. The risk associated with Omicron may help dampen the demand-driven portion of inflation while exacerbating supply chain challenges.
Jon Maier, Chief Investment Officer, Global X ETFs said: “Income investors should be prepared for higher rates and inflation, a scenario that makes lower duration assets and real assets more attractive. Equity markets will likely be more selective in 2022 with a focus on valuations, fundamentals and quality.”
Jay Jacobs, Head of Research & Strategy at Global X ETFs, commented: “Spurred by rising labor costs and disruptive supply chains, disruptive industries such as robotics and AI could reach an inflection point in 2022. At the same time, the emergence of the metaverse and a new generation of consumers with distinct preferences are rapidly changing the way we live, spend, travel and the demand for immersive experiences via the digital economy.”
Global X ETFs’ landmark research report Charting Disruption ( https://tinyurl.com/2p87w2mu ) seeks to help navigate this landscape of accelerating change. The ETF provider has identified what it believes are among the most critical developments for 2022 and beyond. The identified themes present where the accelerated long-term investment opportunities lie.
The following key insights emerged:
Robotics & AI:The industrial robotics industry is set to more than double from 2020 to 2030, from $16 billion to $37 billion, as companies look to accelerate automation in manufacturing and logistics.
Blockchain: Digital currencies* could more than triple in market capitalization by 2030, reaching $10 trillion, as adoption broadens.
Mobility:The number of EV charging stations could increase more than 7x due to the implementation of the Infrastructure Investment and Jobs Act, addressing two of consumers’ top three hesitations about EVs: concerns about range and the hassle of charging.
Digital Economy: Today’s relatively niche market for augmented reality, virtual reality and mixed reality products could grow 9.6x to over $296 billion by the end of 2024, helped by growing use cases, content and technological advancements.
About Mirae Asset Global Investments Group Mirae Asset Global Investments Group (the “group”) is an asset management organization with over US$236 billion in assets under management as of December 2021. The organization provides a diverse range of investment products including mutual funds, exchange traded funds (“ETFs”) and alternatives. Operating out of 14 offices worldwide, the group has a global team of more than 1,000 employees, including more than 200 investment professionals.
The group’s global ETF platform features a line-up of 396 ETFs that offer investors high quality and cost-efficient exposure to newly emerging investment themes and disruptive technologies in the global markets. The group’s ETFs have combined assets under management of US$85.8 billion and are listed in Brazil, Canada, Colombia, Hong Kong, India, Japan, Korea, United Kingdom and the United States.
About Global X ETFs Global X ETFs was founded in 2008. For more than a decade, our mission has been empowering investors with unexplored and intelligent solutions. Our product lineup features 90 ETF strategies and over $40 billion in assets under management. While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Alpha funds to suit a wide range of investment objectives.
Global X is a member of Mirae Asset Financial Group, a global leader in financial services, with more than $620 billion in assets under management worldwide. Mirae Asset has an extensive global ETF platform ranging across the US, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea, and Vietnam with over $70bn in assets under management.
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43% of participants show optimism on outlook for 2022 economy
A highlight event celebrating the 25th anniversary of the Hong Kong Special Administrative Region (HKSAR), the 15th Asian Financial Forum (AFF), organised by the Government of the HKSAR and the Hong Kong Trade Development Council (HKTDC), came to a successful conclusion yesterday (11 January). Running on the theme Navigating the Next Normal towards a Sustainable Future, the online-only AFF 2022 featured real-time polls to gauge the views of participants on a spectrum of topics, including the global economic outlook, environmental, social and governance (ESG), climate risks and green investment trends. This year, over 700 one-on-one matchmaking meetings between investors and project owners have been arranged in the three-day AFF Deal Flow Matchmaking Session. As of 11 January, the AFF virtual platform had seen more than 63,000 views from 80 countries and regions.
Mark Carney, United Nations Special Envoy on Climate Action and Finance, shared his insights on how to build a sustainable financial system as a way of mitigating the liability and transitional threats posed by climate change.
Jean-Claude Trichet, Former President, European Central Bank, offered his views on how the financial industry, regulators and policymakers should step up their concerted efforts in addressing key issues related to monetary stability in times of uncertainty.
This year’s AFF Deal Flow Matchmaking Session was held over three days with over 700 one-on-one matchmaking meetings arranged between project owners and investors.
Delivering his remarks on the second morning of AFF 2022, Paul Chan, Financial Secretary of the HKSAR, noted the tremendous opportunities for Hong Kong’s financial market created by Mainland China’s continued development. “The national 14th Five-Year Plan sets out the long-range objectives of the country through the year 2035, and strategically affirms the role and positioning of Hong Kong in the overall development of our country, presenting opportunities in various areas of importance. Of all the specific roles for Hong Kong that have been reaffirmed or established, the one of particular relevance to us on this occasion is Hong Kong’s continued expansion as an international financial centre, encompassing the strengthening of our status as a global offshore renminbi business hub as well as an international asset management and risk management business centre,” Mr Chan said.
43% of poll respondents optimistic on global economy; 33% say lack of unified ESG standards as top challenge of businesses Online polls have been conducted during the AFF to gauge participants’ views on a range of issues including the global economic outlook and ESG. It found that 43% of respondents were optimistic about the outlook for the global economy in 2022 – a significant increase from 32% in the poll at AFF 2021 – while 33% of respondents had a neutral view and 24% expressed pessimism. The results indicate a generally more positive sentiment towards economic prospects in 2022.
When asked about the most significant barrier preventing their companies from implementing more ESG-friendly policies, 33% pointed to the lack of unified, easily understandable ESG standards and 22% cited the difficulty in balancing ESG practices and business goals. As for the sectors with the most opportunities for green investment in Asia, 45% identified green energy, followed by real estate and construction (16%), transportation infrastructure (14%) and agriculture and food (14%).
Pulse survey says neglecting ESG will lose business opportunities and clients PwC and the HKTDC jointly presented a pulse survey, “ESG Investing: Challenges and Opportunities for Hong Kong”, during AFF 2022. Speaking at the forum, Elton Yeung, Vice Chairman of PwC China, said the survey indicated that more than half of the respondents believed that neglecting ESG factors could affect organisations’ ability to attract business opportunities and retain clients. Nearly 40% said it could affect their organisation’s reputation and the sustainability of their operations in the long run.
The report also pointed out that the involvement of boards and executive directors in ESG matters is effective in encouraging companies to move towards sustainability. The green bond market and unified carbon emissions trading market in the Guangdong-Hong Kong-Macao Greater Bay Area provides significant opportunities for the development of ESG investing in Hong Kong. However, respondents said they see the lack of a homogenous framework or standardised guidelines for measuring ESG factors as a challenge to implementing ESG practices and measures, corresponding with the result of the AFF online poll.
Heavyweight speakers share views on a range of topics Several keynote speeches were featured at AFF 2022, including an address by Mark Carney, United Nations Special Envoy on Climate Action and Finance. Mr Carney shared his insights on how to build a sustainable financial system as a way of mitigating the liability and transitional threats posed by climate change. He said that governments need to step up with “ambitious, credible and predictable” policies that match their pledges. “Very importantly, countries are encouraged to enact ‘deep decarbonisation’ policies such as the phase-out of internal combustion engine vehicles by 2030 and legislate carbon pricing to deliver certainty. This is about giving greater certainty to investors and businesses, so they can pull forward with investment, smooth adjustments and drive jobs and growth upwards while they force emissions downwards. Finance is stepping up, the system is being changed, and there are enormous opportunities now for countries and companies, from affordable green power to zero-emission steel to low-carbon hydrogen and beyond. The financial sector has moved from being a mirror that reflects a world that hasn’t been doing nearly enough to becoming a window through which ambitious climate action can deliver a sustainable future.”
Another distinguished keynote speaker was Jean-Claude Trichet, Former President of the European Central Bank. He noted that the financial industry, regulators and policymakers should step up their concerted efforts when it comes to addressing key issues related to monetary stability in times of uncertainty. “[Macroprudential regulations] are more important than ever. We have to be very careful with regard to these buffers, countercyclical buffers, the systemic risk buffers, et cetera. We have to be very attentive to the loan-to-deposit ratio, to all these kinds of macroprudentials that are of extraordinary importance. It’s clear that the advanced economies have to be particularly cautious today and particularly attentive to their risks. Because if all that turns out to be a hard landing, every country in the world will pay a very high price for that. And, as always, the least developed, the poorest, the developing economies – they will have the most difficulty,” said Mr Trichet.
Looking at the financial world from a different angle, Michael Milken, Chairman, Milken Institute, shared on the positive changes that his philanthropic work has created for communities, “There is no substitute for continued investments in education. One of the things we learnt from COVID is that we need to provide knowledge and education, as it relates to the environment, to nutrition, and to the promise of science. Just developing new technologies and new techniques that are effective, COVID has shown us it’s not enough. We have to make sure that it is communicated so the billions of people on the planet can fully understand and have access to these technologies.”
Tian Guoli, Chairman, Executive Director, China Construction Bank, said: “In 2022, Asia will likely become a force to boost the development of sustainable development in a world full of uncertainties. Hong Kong will certainly play a more crucial role as an international financial centre.”
Ju Weimin, Vice Chairman, President & CIO, China Investment Corporation, a sovereign wealth fund, offered his analysis of the current macro investment trends in Asia and China, noting that sovereign wealth funds are a key source of global investment capital. “They have been the key players in developing the global financial market; they have grown rapidly and are making a bigger impact on the international market and capital flow. Especially since the global financial crisis, the total size of the sovereign wealth funds worldwide has doubled and is approaching the global size of alternative investment,” Mr Ju said.
Addressing the outlook for cryptocurrencies and blockchain, Sam Bankman-Fried, Founder and CEO of cryptocurrency exchange FTX.com, said: “One of the big goals of crypto is to be able to build an ecosystem where there is financial inclusiveness, where anyone can get equitable access to the financial markets. When you look at traditional markets, you just don’t see that ease of access. For some reason in crypto, the exchanges seem to play a very central role, whereas in the rest of the financial ecosystem they played a relevant role but a less central one. That is one big thing that really changes people’s minds on ecosystems as they walk through it.”
Bestselling author and Founder and Executive Chairman of Moven Brett King, also widely known as the “Godfather of Fintech”, offered his perspectives on how the emergence of innovative fintech solutions presents both an opportunity and a challenge to the banking and financial industries. “The first use of central bank digital currencies (CBDCs) en masse will probably be the Beijing Winter Olympics this year, where we see the CBDCs incorporated into the mobile wallet for the games. This is the first major evolution of money that we have seen since we moved from coins to paper banknotes. In a historical perspective, what we see right now with the creation of CBDCs and cryptocurrencies is an incredible point of change for humanity with respect to the design and intelligence of money,” Mr King said.
Over 700 meetings in AFF Deal Flow in three days In response to high investment demand, this year’s AFF Deal Flow Matchmaking Session, co-organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association, is extended by a day and held over three days from 10 to 12 January. The AFF Deal Flow has facilitated collaboration between project owners, potential business partners and investors by arranging over 700 one-on-one meetings and connecting capital with investment projects from around the world. Over 720 projects in the AFF Deal Flow Matchmaking Session covered a wide spectrum of sectors, including fintech, healthtech, deep tech, consumer goods, infrastructure and real estate, environment, energy and environmental technology. More than 230 of the projects were ESG-integrated to meet the related needs of investors.
AFF online platform runs to mid-March, showcasing technologies from 130+ exhibitors Video playback of all the sessions and virtual exhibitions from AFF 2022 will be available through the event’s online platform until 11 March 2022. Participants can enjoy round-the-clock access to 60 keynote speeches and panel discussions as well the exhibitions of more than 130 local and international financial institutions, tech companies, start-ups and investment agencies, showcasing a plethora of advanced financial technologies and unmissable investment opportunities.
Overview of participants’ responses in AFF 2022 polls 1. What is your outlook for the global economy in 2022? Optimistic 43% Neutral 33% Pessimistic 24%
2. In which sector do you see the most opportunities for green investment in Asia? Green energy 45% Transportation infrastructure 14% Water and waste treatment 9% Reforestation 2% Real estate and construction 16% Agriculture and food 14%
3. What is the most significant barrier preventing your company/institution from implementing more ESG-friendly policies? The difficulty in balancing ESG practices and business goals 22% Lack of ESG understanding among key personnel 16% Lack of unified, easily understandable ESG standards 33% Poor data quality and consistency in terms of ESG performance evaluation 14% Lack of commitment to ESG practices among senior management 6% Insufficient government support 9%
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
More than 170 global business leaders and policymakers explore a sustainable future for world’s economy
Organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), the 15th Asian Financial Forum (AFF) opened today as an online-only event. AFF 2022 is a highlight event celebrating the 25th anniversary of the HKSAR. The two-day forum features 60 sessions including keynote speeches and in-depth discussions along with an array of activities such as exhibitions and the AFF Deal Flow Matchmaking Session. All activities at AFF 2022 will be streamed live on the event’s virtual platform.
Carrie Lam, Chief Executive of the HKSAR, delivered remarks at the opening ceremony of the 15th Asian Financial Forum
Mark Carney (R), United Nations Special Envoy on Climate Action and Finance, shared his insights on how to build a sustainable financial system. Mr Carney was introduced by Ronnie Chan, Chair, Hang Lung Properties Limited (L)
Jean-Claude Trichet, Former President of the European Central Bank
Under the theme “Navigating the Next Normal towards a Sustainable Future”, more than 170 global business leaders, policymakers, financial and wealth management experts, entrepreneurs, tech giants and economists from 16 countries and regions speak at the AFF, and examine the key issues reshaping the economic landscape, including how industries can realise sustainable and inclusive development through impactful venture capital and business strategies.
Carrie Lam, Chief Executive of the HKSAR, officiated at the forum’s opening ceremony. In her opening remarks she noted that: “With ‘One Country, Two Systems’ back on the right track, international investors and observers have shown confidence in Hong Kong. The latest Global Financial Centres Index, in September last year, ranked Hong Kong third globally among the more than 100 financial centres assessed, behind only New York and London. Looking ahead, beyond the pandemic and the continuing cloud it raises over global economic growth, particularly associated with the Omicron variant, we see boundless possibilities.”
In his welcome remarks, Dr Peter K N Lam, Chairman of the HKTDC, said: “This year is especially meaningful because the AFF is also the first of many events to celebrate the 25th anniversary of the Hong Kong Special Administrative Region. While we are still tackling the pandemic, we are also looking beyond the pandemic to recovery, which is the main direction of the AFF theme this year. We have brought together policymakers and business leaders from around the world to discuss important global issues from an Asian perspective. This year, our event will again be held virtually, and I hope we can reach more people from around the world to share ideas and inspire each other.”
Three heavyweight financial ministers from Mainland China delivered special remarks during the opening session. They included Dr Shang Fulin, Director of the CPPCC Economic Affairs Committee, Former Chairman of the China Banking and Insurance Regulatory Commission, and Former Chairman of the China Securities Regulatory Commission; Dr Fang Xinghai, Vice Chairman, China Securities Regulatory Commission; and Xiao Yuanqi, Vice Chairman, China Banking and Insurance Regulatory Commission.
Dr Shang noted: “Global openness requires cooperation, and a rules-based multilateral trading system is the cornerstone of economic globalisation and free trade. The international community must double-down on consensus-building and actions. We must also stand firm on maintaining openness, inclusiveness, dialogue and collaboration to jointly address global issues and challenges. This will enable us to promote stronger and greener global development and champion a community with a shared future.”
Mark Carney and Jean-Claude Trichet deliver keynote speeches on first day Mark Carney, United Nations Special Envoy on Climate Action and Finance, delivered a keynote address on the first day of AFF 2022. He shared his insights on how to build a sustainable financial system as a way of mitigating the liability and transitional threats posed by climate change. “From a general perspective, the risks of future pandemics have gone up because of climate change. And what is disappointing is that we have known of these risks of pandemics for a long period of time. The upfront investment against them in terms of healthcare capacity, testing, et cetera, is extremely modest relative to the cost, and we still haven’t made those investments on the scale that we need. We have to take this seriously. It is compounded by climate change,” Mr Carney said.
Another distinguished speaker was Jean-Claude Trichet, Former President of the European Central Bank. He noted that the financial industry, regulators and policymakers should step up their concerted efforts in times of uncertainty.
Global financial policymakers and experts discuss green finance and sustainable growth A plenary session chaired by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, was held following the opening session. Mr Hui joined together with an international panel of financial ministers, bank governors and policymakers to examine the characteristics of the post-COVID global economic new normal and discuss how the public and private sectors can collaborate to orient the global economy towards a green future with sustainable growth. The panellists included Vincent Van Peteghem, Deputy Prime Minister and Minister of Finance, Belgium; Mihaly Varga, Deputy Prime Minister and Minister of Finance, Hungary; Arkhom Termpittayapaisith, Minister of Finance, Thailand; Wimboh Santoso, Chairman of the Board of Commissioners, Financial Services Authority, Indonesia; Verena Ross, Chair, European Securities and Markets Authority; Jin Liqun, President and Chair, Asian Infrastructure Investment Bank; Muhammad Sulaiman Al Jasser, President, Islamic Development Bank; and Marcos Troyjo, President, New Development Bank.
At a policy dialogue in the afternoon, Eddie Yue, Chief Executive, Hong Kong Monetary Authority, chaired a panel featuring Ashley Alder, Chief Executive Officer, Securities and Futures Commission; Benjamin E. Diokno, Central Bank Governor, Philippines; Klaas Knot, Chair, Financial Stability Board and President, De Nederlandsche Bank; Teresa Ko, Co-vice chair, IFRS Foundation; and Dr Ma Jun, Co-Chair of G20 Sustainable Finance Working Group, Co-Chair of IPSF Taxonomy Working Group; Chairman and President of Hong Kong Green Finance Association. The panel exchanged views on how the financial system can better support a sustainable global recovery while keeping climate-related financial risks at bay.
Echoing the theme of AFF 2022, a panel discussion on “ESG & Sustainability” was also staged. Stewart James, Chief of Staff, Sustainability Policy & Regulation, HSBC, spoke with panellists including Andrew Erickson, Chief Productivity Officer, Head of International Business, State Street; Shinta Widjaja Kamdani, CEO, Sintesa Group; Amy Lo, Co-Head Wealth Management Asia Pacific, UBS Global Wealth Management; and Saker Nusseibeh, CEO, Federated Hermes International. The speakers shared their perspectives on how governments around the world, industry giants, financial institutions and philanthropists can work together towards the wider implementation of environmental, social and governance (ESG) to build a sustainable future.
Financial and business leaders examine global economic outlook Other esteemed financial ministers and business leaders who spoke at AFF 2022 included Ju Weimin, Vice Chairman, President & CIO, China Investment Corporation, a sovereign wealth fund; Paul M Achleitner, Chairman of the Supervisory Board, Deutsche Bank AG; Tony O Elumelu, Group Chairman, United Bank for Africa (UBA) and Founder, Tony Elumelu Foundation; Bill Winters, Group Chief Executive, Standard Chartered plc; Tian Guoli, Chairman, Executive Director, China Construction Bank Corporation; Liu Jin, President, Bank of China Limited; Shriti Vadera, Group Chair, Prudential plc; and Douglas Flint, Chairman, abrdn plc.
AFF Deal Flow Matchmaking Session and fintech exhibition held online From 10 to 12 January, the AFF Deal Flow Matchmaking Session is arranging a series of one -on-one matchmaking meetings on the virtual AFF platform to facilitate collaboration between project owners, potential business partners and investors. More than 600 investment projects, including over 200 ESG-related projects, are being showcased, covering sectors such as deep tech, digital technology and media, healthtech, education, infrastructure and real estate services.
Online exhibitions are also being held during AFF 2022. At the Fintech Showcase, InnoVenture Salon, FintechHK Startup Salon and Global Investment Zone, more than 130 local and international financial institutions, tech companies, start-ups and investment agencies are showcasing an array of advanced technologies and unmissable investment opportunities in various countries and regions. Meanwhile, the HKTDC, Mizuho Bank and Eureka Nova, a start-up incubation and open innovation platform established by New World Development, come together for the first time for AFF Accelerate. It provides a platform for entrepreneurs and innovators to bring their next-generation technology solutions from concept to fruition and adoption in the business sector.
Cryptonaire and eminent philanthropist speak on second day Tomorrow morning will see another keynote speaker Brett King, Founder and Executive Chairman of Moven, sharing perspectives on how the emergence of new fintech developments presents both opportunities and challenges for the banking and financial industries. Sam Bankman-Fried, Founder and CEO of cryptocurrency exchange FTX.com and the richest person in crypto, who is also a Forbes 30 Under 30 honouree, will talk about his entrepreneurial journey and the outlook for blockchain and cryptocurrency. In addition, philanthropist Michael Milken, widely known as one of the most influential thinkers in US finance, will share some of the positive changes that his philanthropic work has created for communities, while Miao Jianmin, Chairman, China Merchants Group, will share his views on Mainland China’s carbon neutrality goals and green finance development.
Other highlight sessions tomorrow include “Decentralised Future – Accelerating Blockchain Innovation for Digital Assets & Transaction” and “Innovation Investment in NFT – Trends and Opportunities”, which will feature speakers such as Jason Bailey, Co-Founder & CEO, ClubNFT, and Francis Belin, President, Asia Pacific at Christie’s.
At the Family Office Symposium, co-organised by the HKTDC and the Private Wealth Management Association, Ronnie Chan, Chair, Hang Lung Properties; Adrian Cheng, Chief Executive Officer, New World Development; and Seri Cheah Cheng Hye, Co-Chairman and Co-Chief Investment Officer, Value Partners Group, will explore wealth management trends relating to family offices and discuss their development among Asian families.
Furthermore, a series of thematic workshops, “Dialogues for Tomorrow” and fireside chats will examine the future of such sectors as energy, food and agriculture, digital wealth management, cloud computing, paytech and healthcare. The speakers will also explore opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, venture capital trends and the net zero economy.
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
