Category: Finance

G3 Global appoints former MOE sec-gen as its new chairman

G3 Global Berhad (G3 Global) has appointed Malaysian civil service veteran Dato’ Sri Alias bin Ahmad as Independent Non-Executive Director and Chairman with effect from January 4.

Dato’ Sri Alias bin Ahmad

A filing with Bursa Malaysia showed that he succeeds Datuk Wan Khalik Bin Wan Muhammad as Director of the Company and Executive Chairman of the Board, who has resigned today.

Dato’ Sri Alias, who served as the secretary-general of the Ministry of Education (MOE) before retiring on 22 May 2018, looks forward to working closely with fellow board members and the management of G3 Global. He seeks to provide the experience and insights that he has gathered after serving the Malaysian government in various capacities and departments.

Aged 63, Dato’ Sri Alias holds a bachelor’s degree in the study of Arts and Social Sciences and a master’s in Strategic and Defence Studies from University Malaya. Besides that, he holds various diplomas and certificates from other institutions including the University of Oxford, United Kingdom.

He served 34 years in the Malaysian civil service and has held many posts of importance in the government.

Some of the notable positions held include Director General of the Department of Immigration (2010-2014), Secretary General of Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) (2014-2016), Secretary of National Security Council (NSC) (2016), and Secretary General of MOE (2016-2018).

Other departments that he has served include the Prime Minister’s Office, Ministry of Home Affairs (MOHA), and the State Security Department.

Commenting on the appointment of the new Chairman, G3 Global managing director Dirk Quinten said: “With the extensive experience and credibility possessed by Dato’ Sri Alias, I am confident that G3 Global will continue to flourish as a dynamic and competitive player in the industries it is involved in, such as artificial intelligence (AI) and healthcare.”

Interesting developments have taken place at G3 Global recently; it started when the Company made a filing on 26 November 2021 which showed that Datuk Seri Aminul Islam Abdul Nor (better known as Datuk Seri Mohd Amin) had emerged with a 25% stake in G3 Global, and has been made an executive director of the Company.

Mohd Amin is the founder and chairman of technology firm Bestinet Sdn Bhd, which provides information technology solutions for managing foreign labour for all stakeholders.

Following that, G3 Global had on 8 December 2021 proposed to diversify into the healthcare sector related business, which includes the distribution of Covid-19 test kits. This is done via Bestinet Healthcare Sdn Bhd, a 51% owned subsidiary of G3 Global, and with orders for 2 million test kits in hand, G3’s subsidiary had a promising start. An EGM will be conducted for the shareholders’ approval early 2022.

The Company is moving to shift its focus to AI and other information technology-based healthcare solutions. Beyond the sales of test kits, G3 Global’s healthcare business will also explore the vast potential of AI in healthcare, especially in the area of healthcare diagnosis.

For further media enquiries please contact:
Hakim Syed Munif
h.juraimi@swanconsultancy.biz
+60 12 318 5410

DigitalX Bitcoin Fund Secures Investment Grade Rating

DigitalX Limited (ASX: DCC, ‘DigitalX’ or ‘the Company’) is pleased to announce that the DigitalX Bitcoin Fund (ISIN: AU60BQC79571) has received an investment-grade research rating from well-known and respected investment research house, SQM Research. The investment-grade rating on the Company’s Bitcoin Fund represents a significant milestone in that it is the first research-rated digital asset fund in Australia.

Highlights

  • DigitalX Bitcoin Fund becomes the first digital asset fund in Australia to receive an investment-grade rating
  • The Fund has been issued with an investment-grade rating after the review process by SQM Research, one of Australia’s most recognised and respected research houses
  • The investment-grade rating opens additional distribution channels for wealth managers and financial advisors to offer the DigitalX Bitcoin Fund to their clients
  • Represents a significant milestone for mainstream adoption of digital assets in the Australian investment and wealth management industry

As part of the research rating process, the Fund has been reviewed on a number of key principle areas including strategy, team, performance, governance and compliance, fees and expenses, liquidity, and risks. Following this external assessment of the Fund’s credentials, the investment-grade rating now provides institutional investors with increased confidence for investing in the Company’s Bitcoin Fund.

Traditionally, financial advisers require an investment grade rating before being able to add investment products to their approved products list (APL). The investment-grade rating opens additional distribution channels for the Company as advisers can now consider adding the DigitalX Bitcoin Fund to their APLs. According to a report prepared by Oliver Wyman titled “Future of Financial Advice” there are approximately 21,670 registered financial advisers overseeing approximately $962 billion in funds under advice[1].

Mr Matt Harry, the Company’s Head of Funds, commented: “After many months of hard work by the team, we are pleased to have secured an investment grade research rating for the DigitalX Bitcoin Fund. Not only is this a first in Australia but the rating will significantly improve our ability to access the relatively untapped financial adviser market by providing them with access to a market-leading product that is audited, titled, insured, and managed by a team with deep experience in digital asset markets.”

Investor Enquiries
Jonathon Carley
Acting Chief Operating Officer & Chief Financial Officer
DigitalX Limited
E: investors@digitalx.com

Media Enquiries
Luke Forrestal
Director, Financial Communications
GRA Partners
E: luke.forrestal@grapartners.com.au

[1] https://www.oliverwyman.com/content/dam/oliver-wyman/v2/publications/2021/jan/future-of-financial-advice.pdf

SOURCE: DigitalX Ltd.

Regional Insurtech Igloo extends footprint in Malaysia with Pine Labs partnership and appointment of Country Head

  • Igloo signs key partnership with Pine Labs to offer affordable Phone Screen Protection and Mobile 360 protection to its platform users
  • Newly-appointed industry veteran, Amitabh Singh, to lead growth in Malaysia
  • Igloo to expand team in Malaysia, making key hires across Business Development, Operations, Customer Service & Sales Management

Regional insurtech firm Igloo today announced a new partnership with digital payments service provider, Pine Labs, marking the extension of its regional footprint in Malaysia. Pine Labs is currently used by over 246,000 merchants in 3700 cities and towns across India and Malaysia. The partnership comes on the heels of its appointment of Amitabh Singh as Country Manager, Malaysia.

Through the partnership, Pine Labs will offer shoppers hassle-free and easy mobile phone protection solutions under the IglooCare Program. Mobile Phone 360 and Phone Screen Protection are currently available on Pine Labs’ platform. The protection covers both repair and replacement of the gadget by up to 100% of the gadget retail price, offered through Igloo’s dedicated nationwide IglooCare repair and service network in Malaysia.

Meanwhile, as part of Igloo’s plan to extend its presence in Malaysia, the company appointedAmitabh Singh, as Country Manager for Igloo, Malaysia. He will be responsible for Igloo’s overall country operations across business development, partnerships, marketing and operations. With nearly two decades of experience in financial services, he has held several leadership roles across Southeast Asia.

In addition, Igloo is expanding its team in Malaysia and making key hires across Business Development, Operations, Customer service & Sales management.

According to Amitabh, the partnership marks a significant milestone in Igloo’s expansion in Malaysia. “We are happy to partner with Pine Labs to offer our best-in-class IglooCare phone protection solutions. Igloo aims to work with more local partners to provide protection platform solutions that are easy to purchase, affordable, and directly impact consumers’ daily lives. These lifestyle-focused solutions allow consumers to experience minimal disruption and financial loss to their daily lives – across multiple categories including Electronics & Durables, Health Benefits products, Lifestyle coverage and SME solutions – all of which are enabled through our technology platform,” he added.

“Pine Labs has been at the forefront of technology in the payments solutions space across India and Southeast Asia. In Malaysia we are expanding our footprint rapidly by entering into strategic alliances with leading banks and retail brands. We are very happy to be partnering with technology platform like Igloo to enable us to expand protection offerings to our merchants. At Pine Labs, we are always striving to get the best products and services for our merchant partners and we find Igloo provides us the best platform in terms of options and roll out flexibility,” said Chayan Hazra, Head of Payment Business – APAC for Pine Labs.

This year, Igloo has established over 30 key partnerships in diverse industries to make protection products more accessible across the region. In July, the insurtech company partnered with regional leading food delivery platformfoodpanda Singapore to launch protection solutions for gig economy workers. In September, Igloo successfully launched partnerships with leading e-Wallet platforms in the PhilippinesGCash andDANA in Indonesia to provide online shopping protection (PH) and phone screen protection (ID) respectively. Last month, Igloo partnered its first Digital Health brand, HD, to provide health-related micro-insurance products via the HDmall healthcare marketplace platform in Thailand. The company also boasts several award wins this year, namely “Most Innovative InsurTech Company”, “2021 Inclusive Fintech 50” and “Insurtech Initiative of the Year – Singapore”.

Amitabh Singh’s profile can be found here.

About Igloo
Igloo, previously known as “Axinan”, is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia, Thailand, the Philippines, and Vietnam, and tech centres are located in China. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimize and enhance existing products and services. In April 2020, Igloo successfully closed its Series A+ funding round worth US$8.2 million, bringing its total funding to US$16 million from global investors.

Igloo is led by a core team that comprises top talent from the technology and insurance industries hailing from global corporations including Facebook, Grab, Flipkart, Garena, Manulife, Shopee, Yahoo! and Zalora. For more information, please visit https://www.iglooinsure.com

About Pine Labs
A leading merchant commerce platform, Pine Labs serves prominent large, mid-sized and small merchants across India and Southeast Asia. The company’s unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions including enterprise automation systems such as inventory management and customer relationship management. Its stored value platform includes issuing, processing, and distributing digital gift cards for corporate customers around the world. In April 2021, Pine Labs acquired Fave, a consumer fintech platform that provides a smart payment app to the smart generation of consumers looking to pay and save. Fave is currently operational in 35 cities across Malaysia, Singapore, and Indonesia and is also available in India. Incorporated in Singapore, Pine Labs’ key investors include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard. To know more, please visit www.pinelabs.my

Media Queries
PRecious Communications for Igloo
igloo@preciouscomms.com

HKTDC Export Index 4Q21: Hong Kong export growth set to slow to 8% in 2022

COVID-19 volatility and spiking logistics costs impact sentiment

The Hong Kong Trade Development Council (HKTDC) forecasts that Hong Kong exports will grow by 8% in value in 2022, down from the 25% expansion experienced in 2021. An uneven recovery, lingering threats from the COVID-19 pandemic, global supply chain disruptions and logistics bottlenecks, as well as rising concerns over inflation, are expected to restrain growth, HKTDC Director of Research Nicholas Kwan said.

HKTDC Director of Research Nicholas Kwan and Assistant Principal Economist (Greater China) Alice Tsang announced the HKTDC Export Index for the fourth quarter of 2021 and gave the HKTDC’s prediction for export growth in 2022 at a press conference today.

In the most recent HKTDC Export Index survey, more local exporters (87%, up 20.4 percentage points from the previous quarter) said the pandemic had negatively affected their business. Soaring transport costs (60.2%), disruptions to logistics and distribution (53.2%) as well as difficulties in sourcing raw materials/parts and components (41.4%, up 16.8 percentage points) were cited as major impacts. More than 70% of Hong Kong exporters said they expect 2022 sales will decrease (42.6%) or just be on par (29.1%) with sales this year.

COVID-19 remains biggest threat
In the first 10 months of 2021, Hong Kong exports surged 26.7% year-on-year, albeit from a low base. “The remarkable growth outshone the global average, demonstrating the resilience of the city’s export sector. Nonetheless, lingering pandemic and market uncertainties are likely to cast a shadow on the local export performance in the coming year,” Mr Kwan said.

He added that the impact of COVID-19 (32.5%) remains local exporters’ top concern, followed by a stuttering economic recovery (15.7%) and borders remaining closed (11.6%).

From ‘just-in-time’ to ‘just-in-case’
Mr Kwan said COVID-19-related delays in shipments and issues related to port closures and congestion have adversely impacted the global supply chains in many areas. While 71.3% of respondents reported delivery delays, 39.8% experienced production schedule disruption and 38.4% passed extra shipping costs on to customers. Many exporters (62.4%) expect logistics costs to continue rising in the first quarter of 2022, with 39.8% anticipating an increase in the range of 10-30%.

He said manufacturers may reserve more buffer time for production in the pandemic recovery period. “Take the automobile industry as an example, where companies are switching from a ‘just-in-time’ strategy, with semiconductor chips, parts and components only delivered as needed, to embracing a ‘just-in-case’ strategy where they stock up on inventory to combat logistics bottlenecks.”

New products, new markets
On the bright side, the Regional Comprehensive Economic Partnership (RCEP) agreement takes effect on 1 January 2022. “With its phased tariff elimination, the RCEP is set to further develop and integrate regional supply chains, as well as encourage production specialisation in Asia. This will provide a fresh impetus for Hong Kong to fortify its role as an international trading hub,” Mr Kwan said.

Considering business strategies in 2022, almost half of the exporters surveyed (46.4%) indicated they planned to develop other product categories, with some opting to develop domestic markets in Mainland China (33.8%) or diversify sales to other overseas markets (30.5%).

Toy sector bearish
Meanwhile, the HKTDC Export Index dropped 1.8 points to 37.2 in the final quarter of 2021, “indicating that growing market uncertainties triggered by COVID-19 variants may continue to undermine local exporters’ confidence in the near term,” said HKTDC Assistant Principal Economist (Greater China) Alice Tsang.

Machinery (44.1, up 0.3 points) was the most promising sector, jewellery (40.7. up 0.8) and clothing (39.6, up 3.5) improved, while toys, down 19.0 points to 25.0, was the least optimistic sector. Exporters were equally cautious on major markets. Mild growth was expected in the Association of Southeast Asian Nations (ASEAN) bloc (45.8, up 1.3) and Japan (48.7, up 0.8), while the mainland market remained stable (47.6, down 0.2) and the United States fell 1.4 points to 42.9.

The Procurement Index and the Employment Index were more or less the same as the previous quarter, at 36.9 and 44.0 respectively. The Trade Value Index (57.0) remained in expansionary territory.

A total of 500 local traders from six major industry sectors including clothing, electronics, jewellery, machinery, timepieces and toys were interviewed for the HKTDC Export Index survey in mid-November. Readings above 50 indicate a positive sentiment, while below 50 is negative.

References
– HKTDC Research website: http://research.hktdc.com/
– HKTDC Export Index 4Q21: Exporter Sentiment Declines as Covid-19 Resurges and Logistics Costs Spiral https://bit.ly/3yC337H
– Hong Kong Export Outlook for 2022: Moderate Growth Amid Lingering Risks from Covid-19 and Growing Threats of Inflation https://bit.ly/3EWwN1b
– Podcast https://bit.ly/3pXDPfJ
– Photo download: https://bit.ly/3pWHKJQ

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:
HKTDC’s Communication and Public Affairs Department
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org

Society Pass (SoPa) Files 1st Form 10-Q; Building Sales Momentum After Recent Launch of Leflair Lifestyle E-Commerce Platform and IPO Capital Raise

Society Pass Incorporated (Nasdaq: SOPA) (SoPa or the Company), a leading, Southeast Asian data-driven loyalty platform, today announced the filing of its first quarterly Form 10-Q with the Securities and Exchange Commission since completing its initial public offering on November 9, 2021. The filing is for the three month period ended September 30, 2021, during which Society Pass launched Leflair, its lifestyle e-commerce platform that markets and sells products in three verticals including Fashion & Accessories, Beauty & Personal Care, and Home & Lifestyle.

Dennis Nguyen, CEO of Society Pass, commented, “As you can see from the revenues from our Leflair business unit in just the final three weeks of September, the recent launch of Leflair into the Vietnam marketplace in early September has gone extremely well and sales momentum is building every day. Supported by the completion of our IPO that raised gross proceeds of $28.125 million in early November, we believe that Society Pass is well positioned to execute its strategic plans. These include increasing the marketing spend for our platforms, rolling out our Society Points loyalty program, investing in additional infrastructure such as data centers, call centers, and warehouses, and funding acquisitions of e-commerce companies in Southeast Asia (SEA) and South Asia.”

For Society Pass’ complete financial results for the period ended September 30, 2021, see the Company’s quarterly Form 10-Q filed with the Securities and Exchange Commission on December 9, 2021.

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.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

SoPa:
Raynauld Liang, CFO
ray@thesocietypass.com

Investor Relations Asia:
Daniel Tan
PRecious Communications
daniel@preciouscomms.com
+65 9651 5292

Focus on the A Shares Leaders, Capture the China Opportunities: E Fund (HK) MSCI China A50 Connect ETF launched on HKEX

  • Stock Code: 03111.HK (HKD counter) 83111.HK (RMB counter)

E Fund Management (HK) Co., Ltd. is pleased to announce today (Tuesday) the launch of E Fund (HK) MSCI China A50 Connect ETF (EFUND MSCI A50) on the HKEX. The stock code is 3111. The product is launched by E Fund HK. The fund tracks the MSCI China A50 Connect Index, which selects 50 stocks from the component stocks in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, focusing on China’s core assets.

IMPORTANT INFORMATION:
1.E Fund (HK) MSCI China A50 Connect ETF (the “Fund”) is a passively managed exchange traded fund (“ETF”) and is traded on the Stock Exchange of Hong Kong (“SEHK”) like stocks. The investment objective is to provide investment result that, before fees and expenses, closely corresponds to the performance of the MSCI China A 50 Connect Index (the “Index”). The Manager will adopt a combination of a physical representative sampling strategy and a synthetic representative sampling strategy. For direct investments in Index Securities listed on the Shanghai and Shenzhen stock exchanges, the Fund will invest primarily through the Stock Connect and/or the Manager’s QFI status. By adopting a synthetic representative sampling sub-strategy (which involves investing up to 50% of its NAV in FDIs), the Fund will only invest directly in funded total return swap transaction(s)

2.The Fund is subject to a) Investment risk, b) Equity market risk, c) New Index risk, d) Concentration risk and Mainland China market risks, e) Risks associated with the Stock Connect and QFI regime , f) Risks associated with investments in FDIs, g) Trading differences risk, h) Passive investments risk,, i) Trading risk, j) Tracking error risk, k) Dual counter risks, l) PRC tax risk, m) Reliance on market maker risk, n) Other currency distribution risk, o) Termination risk..

3.Based on professional and independent tax advice, (i) the Fund will make relevant provision of 10% on dividend and distribution income from A-Shares if PRC corporate income tax (“CIT”) is not withheld at source at the time when such income is received (where CIT is already withheld at source, no provision will be made) and (ii) the Manager does not currently make withholding income tax provision for gross realised or unrealised capital gains derived from trading of A-Shares (either via Stock Connect or QFI).

4.There are risks and uncertainties associated with the current PRC tax laws, regulations and practice in respect of capital gains realised via QFI or Stock Connect on investments in the PRC (may have retrospective effect). Any increased tax liabilities on the Fund may adversely affect the Fund’s value. If taxes are levied in future on the Fund for which no provision is made, the Fund’s NAV will be adversely affected. In this case, the then existing and subsequent investors will be disadvantaged as they will bear for a disproportionately higher amount of tax liabilities as compared to the liability at the time of investment in the Fund.

5.You should not make any investment decision solely based on the information on this material alone. Please read the relevant offering documents for details including the risk factors before making any investment decisions. Investment involves risk. Past performance is not indicative of future performance. This document has not been reviewed by the Securities and Futures Commission of Hong Kong.

The MSCI China A50 Connect Index has three major characteristics: Firstly, the historical performance of the index is better than other main broad-based indexes. From the perspective of historical cumulative return rate, the price index return rate and the total return performance of investments with the dividends reinvested have all outperformed the CSI 300, FTSE Russell A50 and MSCI China A-Share Index (the parent index) in the past 10 years. Secondly, the industry distribution is balanced with a high proportion of new economy. Compared with other main broad-based indexes, the MSCI China A50 Connect Index has significantly increased the proportion of new energy, electronics, medicine and other sectors. Thirdly, the component stocks comprise leader companies in various industries, with excellent profitability and growth, which are regarded as China’s core assets, which are highly recognized by foreign institutional investors. It is an effective investing tool for investors to focus on the A Shares leaders and capture the China opportunities.

MSCI Company highly regards the importance of Chinese assets. In May 2018, MSCI officially announced the inclusion of China A Shares in its flagship index system. Through step-by-step implementation, MSCI increased the inclusion ratio of China A shares from 5% to 20% in the MSCI Emerging Markets Index in 2019. The market expects the proportion of MSCI’s inclusion of China A Shares may increase to 50% in 2027, which is equivalent to an average of 200-400 billion RMB flowing into China A Shares from overseas assets each year.

HKEX Co-Head of Markets Wilfred Yiu said: “We warmly welcome the listing of E Fund (HK) MSCI China A50 Connect ETF that tracks the MSCI China A 50 Connect Index. It will join the increasingly diversified Connect product ecosystem in Hong Kong, enriching the choice for investors around the world, and providing another investment option for those seeking exposure to China assets. HKEX looks forward to working with its clients and the market on continuing to build Hong Kong’s attractiveness as an offshore RMB hub and international trading, risk management and capital raising centre.”

Doug Walls, APAC Head of Index Products at MSCI, said, “The MSCI China A 50 Connect Index follows an innovative sector-balanced approach that aims to ensure diversified and balanced representation of the broader China A market. It is designed to enable international and domestic investors to track China’s sector leaders and get exposure to the overall market, including the potential opportunities in China’s new economy. The index marks another milestone since the inclusion of A-shares in MSCI indexes. At the same time, index-linked ETFs and other financial products will provide global investors with more opportunities to access the broad and diversified China market.”

Gaohui Huang, CEO of E Fund Management (HK), said, “With the increase of China’s economic influence in the world and the further opening up of the financial markets, China A-share assets will play an even more important role in global investors’ portfolios. We believe that E Fund (HK) MSCI China A 50 Connect ETF will become an essential tool for domestic and foreign investors to allocate A-share assets. “

Fund Information
E Fund (HK) MSCI China A50 Connect ETF
Stock Code: 03111.HK (HKD counter) 83111.HK (RMB counter)
Exchange Listing: HKEX – Main Board
Listing Date: 14th-December-2021
Underlying Index: MSCI China A 50 Connect Index (Price return)
Trading Currency: RMB
Counter Currency: RMB/HKD
Investment Channel: Mainland China-Hong Kong Stock Connect, RQFII (Mainly by Mainland China-Hong Kong Stock Connect)
Investment Strategy: A combination of (i) primarily a physical representative sampling strategy and (ii) a synthetic representative sampling strategy as an ancillary strategy.
Portfolio Composition File Basket Share: 1,000,000
Fund Initial Net Value: 2.6 RMB (subject to the final price before listing)
Management Fee Rate: 50 bp (p.a.)
Expected Total Expense Ratio (TER): 80 bp (p.a.)
Derivative Use: Yes, derivative does not exceed 50%

About E Fund Management (HK) Co., Ltd.
As the international business platform of E Fund, E Fund HK provides bilateral and cross-border asset management services in fixed income, equity (include active management strategy and ETF product lines) and global asset allocation for investors all over the world. E Fund HK has an established presence in Hong Kong for many years and has since listed a number of mutual funds, private equity funds and ETFs in Hong Kong, Europe and the US. Its award-winning products have been recognized by leading institutions such as Morningstar, Lipper, Asian Investor and Benchmark for their strong performances relative to peers..

E Fund HK has nearly 10 years of index investment experience. The company has abundant practical experiences in the offshore ETF market. E Fund HK cooperate with many international institutions, and issued products in Hong Kong, Europe and the US. In 2012, E Fund HK issued a product tracking the CSI 100 Index. In 2014, E Fund HK issued a product tracking Chinese government bonds, and issued a UCITS product about China A shares with a European company. In 2014, E Fund HK and a US fund company jointly issued an ETF in United States. In 2017, E Fund HK and Yuanta Securities jointly issued a leveraged ETF and an inverse ETF tracking the Hang Seng Index.

The MSCI series of indexes developed by MSCI are widely used by global portfolio managers as benchmark indexes, with an asset scale of more than US$16 trillion, including more than 1,200 index ETFs with an asset scale of more than US$1.2 trillion.

MSCI Index Disclaimer
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus issued by E Fund Management (Hong Kong) Co., Limited (“E Fund HK”) contains a more detailed description of the limited relationship MSCI has with E Fund HK and any related funds.
Copyright 2021. E Fund Management (Hong Kong) Co., Limited. All rights reserved.

The Fund has been authorized by the Securities and Futures Commission of Hong Kong (“SFC”) but such authorization is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. Investment involves risk. Past performance is not indicative of future performance. The investment returns are denominated in RMB. HK dollar-based investors are therefore exposed to fluctuations in the HK dollar/RMB exchange rate and investing in funds denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Please refer to the offering document for details of the Fund including the risk factors. This document has not been reviewed by the SFC. Issued by E Fund Management (Hong Kong) Co., Limited.

This document is neither an offer nor solicitation to purchase units of the Fund. Distribution of this document may be restricted in certain jurisdictions. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation.

SEEK Asia Launches “Let’s Get To Work” To Empower Job Seekers After “Great Resignation”

  • SEEK Asia, owners of JobStreet and JobsDB across the region, launches a pan-regional campaign aimed at encouraging participation and empowerment in the workforce after the “great resignation” wave
  • Let’s Get To Work campaign will tap on local influencers and key opinion leaders such as actors, athletes, entrepreneurs, musicians, and YouTubers – to inspire Gen Z audiences; the company will also launch Asia’s Biggest Tech Career Fair in 2022
  • SEEK Asia’s latest campaign is helmed by McCann Worldgroup and highly acclaimed Manila-based director Adrian Calumpang; Ogilvy will lead social and PRecious Communications will drive PR

Today, SEEK Asia, the parent company of leading jobs platforms JobStreet and JobsDB, and with investments in JobKorea and BDJobs (Bangladesh), announces the launch of its new omni-channel marketing campaign aimed at getting job seekers, and especially first jobbers, to work. This comes after the pandemic caused unemployment rates to skyrocket to an estimated 81 million in Asia, with many still unable to secure a job. The pandemic has also changed people’s attitudes towards their jobs, with many re-evaluating where and how they want to work and the kind of work they want to do. This has led to the emerging trend known as the “Great Resignation”, a term coined by associate professor of management at Texas A&M University Anthony Klotz, which explains why even experienced job seekers are choosing to leave their current careers in the search of something more meaningful.

Aptly titled “Let’s Get To Work”, SEEK Asia’s latest campaign will be rolled out in its six key markets from today, running across digital, out-of-home (OOH) advertising, social media, and PR. Let’s Get To Work is a continuation of SEEK Asia’s brand evolution that began in late 2020, and will focus its messaging on empowering job seekers to go after careers they are passionate about. The campaign also indicates an ongoing strategic business shift, positioning JobStreet and JobsDB as not just a jobs platform, but also as a career and talent partner for both job seekers and hirers, respectively.

The fully integrated marketing campaign is helmed by leading global marketing company McCann Worldgroup and will see adaptations of the regional campaign across microsites, campaign films in each of the six local languages, and in-market activations. McCann will work alongside Think Tank’s multi-award-winning director Adrian Calumpang. Calumpang is a creative force with a long list of clients such as The Coca-Cola Company, Heineken, Nestle, Nike, and Unilever – to name a few. His style is typically sought after because of the way he portrays youth culture; elements that can be seen through the high-energy aesthetic of the Let’s Get To Work brand films.

Jane Cruz-Walker, Chief Marketing Officer at SEEK Asia, said: “While the pandemic has caused widespread job loss, reduced working hours, and pay cuts, it has also caused many to re-evaluate what they want out of their career. Job seekers’ demands have evolved beyond remuneration – they want a sense of fulfilment, good work-life balance, and career progression – and it is time for companies to adapt to this new world of work. This is why SEEK Asia is launching Let’s Get To Work: to motivate job seekers to pursue the jobs they love! By providing job seekers with opportunities to find jobs that they are passionate about, we want to be the career partner that will inspire the next generation of workers and empower them to be the heroes in their own career journey!”

Focusing on the hyperlocal nature of the job market, Let’s Get To Work will also feature influencers and key opinion leaders will be used across the region – including Singaporean actress Sharon Au, Malaysian stand-up comedian Harith Iskander, Indonesian vlogger Gerry Girianza, Filipino actor and chef Marvin Agustin, Thai musician Manassavee, and Hong Kong fitness entrepreneur Charlz Ng.

In 2022, SEEK Asia will also be launching the Biggest Tech Career Fair in Asia, which aims to accelerate digital transformation efforts by providing more opportunities for job seekers to secure roles in companies driven by technology. As the biggest career fair in the region, SEEK Asia will aim to match thousands of tech job opportunities to hundreds of thousands of candidates.

Peter Bithos, CEO of SEEK Asia, said: “SEEK Asia is the biggest and most trusted jobs board in Southeast Asia. Our ambition is to grow fourfold in the next five years and to expand our platform beyond what people have come to know and love us for today. We are strengthening our existing business by making big investments in people, innovation, and technology. Through Let’s Get To Work, we will be able to better engage with and inspire job seekers to find jobs that are meaningful to them. With our appeal to job seekers, this will also allow us to get more employers on the platform looking for quality talent, allowing an explosion of opportunities. Let’s Get To Work is an integral part of SEEK Asia’s commitment to job seekers and employers, and this is just the beginning of our exciting developments and plans.”

Additional activities will also be introduced to get local job seekers excited, including Roro Jonggrang in Indonesia. This hyperlocal campaign will use the popular Javanese legend to tell the story of love and betrayal, and contrast this with how finding a job with SEEK Asia can be easy and drama-free.

About SEEK
SEEK is a diverse group of companies, comprised of a strong portfolio of online employment, educational, commercial, and volunteer businesses. SEEK has a global presence (including Australia, New Zealand, China, Hong Kong, South-East Asia, Brazil, and Mexico), with exposure to over 2.9 billion people and approximately 27 per cent of global GDP. SEEK makes a positive contribution to people’s lives on a global scale. SEEK is listed on the Australian Securities Exchange, where it is a top 100 company and has been listed in the Top 20 Most Innovative Companies by Forbes.

SEEK is present in Asia through JobStreet and JobsDB, two leading career platforms with presence across Hong Kong, Indonesia, Malaysia, Shenzhen, Singapore, Thailand, and the Philippines. It is also the fastest growing part of SEEK’s portfolio of businesses, attracting over 400 million visits a year. To expand its capabilities to help job seekers and employers around Asia, SEEK owns stakes in JobKorea, the largest online employment marketplace platform operator in Korea, and BDJobs, the largest job site in Bangladesh.

For media queries, please contact:
PRecious Communications for JobStreet
E: jobstreet@preciouscomms.com
T: +65 6303 0567 / +65 9644 2930

Aurelius Technologies Berhad IPO Shares Oversubscribed by 20.27 Times

  •  Overwhelming response indicates positive sentiment for economic recovery in 2022
  • One-Stop Solution Electronics Manufacturing Services (EMS) Provider slated to list on the Main Market of Bursa Securities by 16 December

The shares of Aurelius Technologies Berhad (ATech or the Group) has been oversubscribed by 20.27 times ahead of the Group’s listing on the Main Market of Bursa Malaysia Securities Berhad (Bursa Securities).

Mr. Lee Chong Yeow, ATech’s Executive Director and Group Chief Executive Officer

“We are extremely thankful for the trust that investors have in ATech, our business prospects and future plans. Our journey to be a one-stop solution for Electronics Manufacturing Services (EMS) provider has come a long way and has finally come to fruition,” said Executive Director and Group CEO of Aurelius Technologies Berhad, Mr. Lee Chong Yeow.

“As an EMS provider, we are encouraged by the overwhelming response to the IPO as it indicates that the market sentiment is positive for economic growth momentum to continue, which is important for the overall outlook of the electrical and electronics industry.”

ATech is raising RM104.73 million from the IPO exercise. From the proceeds, the Group will use RM40.0 million for the purchase of new machinery and equipment, RM29.52 million for the repayment of borrowings, RM28.13 million for working capital and RM7.09 million for the listing expenses.

“As we look towards the future, the expansion plan will give a boost to the growth of the Group’s business,” Mr. Lee explained. “This is also part of the strategy to increase our semiconductor component manufacturing and the upgrading of our manufacturing facilities with Industry 4.0 technologies.”

The IPO involves the issuance of up to 103,870,000 IPO Shares comprising the following:
(I) Institutional offering of up to 80,961,000 IPO Shares to Malaysian institutional and selected investors, including Bumiputera investors approved by the Ministry of International Trade and Industry at the institutional price to be determined by way of bookbuilding (“Institutional Price”) (“Institutional Offering”); and
(II) Retail offering of 22,909,000 Issue Shares to the directors and eligible employees of ATech and its subsidiary (“Group”), persons who have contributed to the success of the Group and the Malaysian public at the retail price of RM1.36 per Issue Share (“Retail Price”) (“Retail Offering”).

Following the completion of the bookbuilding process under the Institutional Offering by ATech, the Institutional Price has been fixed at RM1.36 per IPO Share. Accordingly, the final retail price for the Issue Shares under the Retail Offering has also been fixed at RM1.36 per Issue Share (“Final Retail Price”).

As the Final Retail Price equals to the Retail Price of RM1.36 per Issue Share, there will be no refunds made to the successful applicants under the Retail Offering.

A total of 14,253 applications for 380,958,800 Issue Shares with a value of RM518,103,968.00 were received from the Malaysian public for the 17,909,000 Issue Shares made available for application by Malaysian public, which represents an overall oversubscription rate of 20.27 times. For the Bumiputera portion, a total of 7,399 applications for 140,000,100 Issue Shares were received which represents an oversubscription rate of 14.63 times. For the public portion, a total of 6,854 applications for 240,958,700 Issue Shares were received which represents an oversubscription rate of 25.91 times.

The 5,000,000 Issue Shares available for application via Pink Application Form have been fully subscribed.

For the Institutional Offering, the Sole Bookrunner and Sole Underwriter have confirmed that the 80,961,000 IPO Shares offered to Malaysian institutional and selected investors, including Bumiputera investors approved by the Ministry of International Trade and Industry have been fully subscribed.

Maybank Investment Bank Berhad is the Principal Adviser for the IPO, Sole Bookrunner and Sole Underwriter.

ATech’s listing on the Main Market of Bursa Securities is scheduled on 16 December 2021.

Acumen Diagnostics’ PCR capabilities to tackle Omicron COVID-19 variant

  • Highly accurate, cost-effective, affordable PCR tests with 2 laboratories able to undertake 7000 tests daily
  • PCR test kits able to detect COVID-19 positive cases including those infected with Omicron variant
  • Homegrown medical technology company that is fully integrated to manufacture PCR test kits locally
  • One of the few companies in Singapore with proprietary technology in testing

Homegrown medical technology Company, Acumen Diagnostics Pte. Ltd. (Acumen Diagnostics or the Company), a 51% owned subsidiary of Q&M Dental Group (Singapore) and 49% owned by Aoxin Q&M Dental, today announced that its proprietary, locally-manufactured polymerase chain reaction (“PCR”) test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant.

Acumen Diagnostics’ series of Acu-Corona and SatuGen COVID-19 PCR test kits can detect the presence of the Omicron variant in SARS-CoV-2 samples

Dr Ong Siew Hwa, Executive Director of Aoxin Q&M Dental and Chief Executive Officer & Chief Scientist of Acumen Diagnostics said, “As the COVID-19 threat continues to evolve with the emergence of a potentially more transmissible variant, Omicron, highly-accurate and cost-effective COVID-19 testing becomes even more important to detect and help curb the spread of the virus.

With PCR tests remaining the gold standard to detect COVID-19, Acumen Diagnostics remains well-positioned to help Singapore tackle this new challenge posed by the virus, with our effective and affordable PCR test kits that are equipped to detect COVID-19 positive cases infected with Delta and Omicron, as well as our laboratory testing capabilities that can run 7000 tests daily. We will continue to contribute to national COVID-19 testing efforts to support Singapore’s safe and sustainable re-opening.”

In addition to detecting COVID-19 positive cases infected with the Delta variant, the Company’s proprietary PCR test kits are able to detect COVID-19 positive cases infected with the Omicron variant as well.

The Acu-Corona 2.0 PCR test targets two COVID-19 genes – RdRp and E, while the Acu-Corona Duplex PCR test targets the E gene and S gene. The portion of the S gene targeted by the Acu-Corona Duplex PCR test does not contain any of the 32 mutations that occurred in the Omicron variant, hence it can detect the Omicron variant without any loss of sensitivity.

This proprietary technology used in PCR test kits and laboratory testing is developed and owned by Acumen Diagnostics. Being locally manufactured, the Company’s test kits can be deployed quickly and are more cost-effective and allow for greater self-sufficiency, compared to that of its peers imported from overseas.

Acumen Diagnostics possesses deep technical capabilities and the supporting infrastructure in molecular diagnostics, spanning R&D, manufacturing, and clinical laboratory testing, with 2 laboratories that are able to process 7000 COVID-19 diagnostics tests daily.

About Acumen Diagnostics Pte. Ltd.
Acumen Diagnostics Pte. Ltd. (“Acumen Diagnostics”) is a homegrown Singaporean, award-winning medical technology company. It is fully integrated with functions in research and development, manufacturing, as well as commercialisation of molecular diagnostics by distribution as well as conducting clinical laboratory testing services for (including but not limited to) infectious diseases, cancer, and COVID-19. It has also actively established frontline services such as COVID-19 on-site swabbing operations.

Acumen Diagnostics is a 51% subsidiary of SGX-listed Q&M Dental Group (Singapore) Limited (SGX: 1D4.SI) and 49%-owned by SGX-listed Aoxin Q&M Dental Group Limited (SGX: QC7.SI). For more information, please visit the company website at www.acumen-research.com.

For more information, please contact:
Waterbrooks Consultants Pte. Ltd.
+65 6958 8008, query@waterbrooks.com.sg
Wayne Koo (M): +65 9338 8166, wayne.koo@waterbrooks.com.sg
Derek Yeo (M): +65 9791 4707, derek@waterbrooks.com.sg

Online brokerage Tiger Brokers (Singapore) sees strong Q3 growth led by first-timer deposits and newly funded accounts

Parent UP Fintech files Q3 Report with Nasdaq earlier this week

Online brokerage Tiger Brokers (Singapore) Pte. Ltd. (Tiger Brokers Singapore) today announced that the average Singapore ‘first-timer’ account deposit has increased to $5,000 this quarter (Q4 2021), compared to the average initial deposit of $4,000 in Q2 and Q3 2021, as the pool of investors wishing to access Singapore’s diverse range of investment opportunities continues to broaden. Over 80% of the 353,300 newly funded accounts acquired through three quarters (Q3 2021) are attributable to international markets, including Singapore, already surpassing the full year guidance of 350,000 newly funded accounts.

Eng Thiam Choon, Chief Executive Officer, Tiger Brokers (Singapore), said of these results, “Our strong growth and credibility in Singapore has placed us in a great position for internationalization as more and more people are evidently choosing to include trading and investments as part of their wealth growth plan. We will continue to work towards building a seamless trading experience for investors on our online and mobile trading platform, Tiger Trade, while keeping them engaged through the variety of financial products available that are relevant and meaningful to them and their lifestyle.”

Tiger Brokers Singapore’s parent company, UP Fintech Holding Limited (NASDAQ: TIGR) or Tiger Brokers (including all of its subsidiaries and consolidated entities), recorded a total revenue at US$60.8 million for their unaudited Q3 2021 financial results, which was a 59.6 per cent increase as compared to third quarter ended 30 September 2020 (“Q3 2020”). Tiger Brokers has a total of 1.77 million customer accounts as per Q3 2021, approximately doubling the number of customers accounts in the same quarter of last year, whilst the total number of customers with deposits increased 185.1 per cent to 612,000 on a year-over-year basis.

As part of the Company’s current strategic global expansion plans, Tiger Brokers (Singapore) has also been established as the dual headquarters to complement the existing headquarters in Beijing and streamline operational efficiency. The Singapore office will also be the Company’s new principal executive office. The decision is intended to promote the Company’s current strategic global expansion plans and streamline the operational efficiency of the Company; the decision is also supported by the fact that Singaporean clients already account for a substantial and growing proportion of the Company’s total client base.

Tiger Brokers has also acquired Ocean Joy Securities Limited, a Hong Kong licensed broker dealer regulated by the Hong Kong SFC (Securities and Futures Commission), to further expand its brand into Asia to build its local client base and contribute to the growth of the vibrant and dynamic capital market through its innovative fintech platform.

Substantiated by its rapid growth in Asia, Tiger Brokers (Singapore) was most recently awarded “Asia’s Most Innovative Company” at the 2021 Fortune Times Awards Ceremony for its innovation to bring better services to local users and add value to the financial industry in Singapore. It was also recently officially admitted as a trading member of Singapore Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited, as well as a clearing member and depository agent of The Central Depository (Pte) Limited.

Additionally, Tiger Brokers (Singapore) is also proud to announce that they are a member of Blockchain Association Singapore (BAS) – a growing community to leverage blockchain and scalable technologies for business growth and transformation. Under BAS’ membership, Tiger Brokers (Singapore) will be able to raise further awareness of blockchain and deliver positive impact through continuous innovation for the investment community on their online and mobile trading platform, Tiger Trade.

The Tiger Trade mobile application is available for download on the Apple App Store and Google Play Store.
– Apple App Store: https://apps.apple.com/sg/app/id1023600494
– Google Play Store: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock

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, 24/7 finance news updates.

Through Tiger Trade, Tiger Brokers (Singapore) offers retail investors in Singapore access to six global exchanges: 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 a 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, 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. For more information, visit https://www.tigerbrokers.com.sg.

About UP Fintech Holding Limited
UP Fintech Holding Limited (NASDAQ: TIGR) is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world, while proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearing houses. For more information, please visit: https://ir.itiger.com.

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.
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. 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.