Category: Finance

Hong Kong: launch pad for GBA companies going global

  • RCEP strengthens intra-regional supply chain

Hong Kong is the ideal platform for mainland Chinese businesses in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) using the Regional Comprehensive Economic Partnership Agreement (RCEP) to go global, according to a joint report released by the Hong Kong Trade Development Council (HKTDC) and the Association of Chartered Certified Accountants (ACCA) today.

HKTDC Director of Research Nicholas Kwan said the RCEP provisions are set to further the advancement and integration of regional supply chains, as well as encouraging specialisation of production in Asia.
Head of ACCA Hong Kong Jane Cheng said when raising funds for investment in RCEP countries, mainland enterprises can use Hong Kong’s professional project evaluation and sustainability assessment services.
Hong Kong is the ideal platform for mainland Chinese businesses in the Guangdong-Hong Kong-Macao Greater Bay Area using the Regional Comprehensive Economic Partnership Agreement to go global, according to a report jointly released by HKTDC and ACCA.

HKTDC Director of Research Nicholas Kwan said RCEP provisions, which are expected to take effect as early as next year, are set to further develop and integrate regional supply chains, as well as encouraging production specialisation in Asia. “This will provide a fresh impetus not only to trade between the signatory countries, but also to the global economy which has been hard hit by the COVID-19 pandemic,” he added.

The report covers a survey^ which found that Hong Kong is the first port of call for mainland GBA companies seeking assistance as they “go out” (meaning “expand internationally”). The most attractive overseas destinations were Southeast Asian countries, including RCEP members.

Almost all mainland GBA companies that were interested in “going out” needed professional services, the survey found, including product development and design (31%), banking, financing and project valuation (30%), brand design and marketing strategies (30%) and related legal and accounting services (30%). Half of these respondents preferred Hong Kong as professional services source outside the mainland, followed by the United States (23%), Singapore (21%) and Japan (14%).

Preferred services hub
The mainland became the world’s largest foreign direct investment (FDI) source for the first time in 2020 as outbound FDI rose 12.3% to US$153.7 billion, of which 58% was channelled through Hong Kong, according to the Ministry of Commerce. “Most mainland investments were made through the Hong Kong business platform, which served as a springboard to the rest of Asia and other regions,” Mr Kwan said.

Hong Kong had yet to become a RCEP member but the city can play a key role in the latest round of mainland outbound investment into other RCEP markets, Mr Kwan said. “Given the city’s strengths in financial, legal, accounting, and other professional services, Hong Kong can help mainland companies in the GBA minimise risks during overseas expansion.”

Enterprises considering relocating production or sales networks to the RCEP region needed a thorough understanding of the local political environment, culture, legal and regulatory regimes, he added. Otherwise, he said, they may find it difficult to assess the situation, such as whether they are able to benefit from RCEP tariff concessions as implementation schedules vary between member countries. “Therefore, companies need professional advice and due diligence to be able to fully capitalise on RCEP opportunities,” he advised.

Strengthening intra-regional trade
Mr Kwan also called on Hong Kong companies to leverage RCEP opportunities, stressing that intra-regional supply chain ties will strengthen as most raw materials and intermediate products can be traded freely within the bloc.

“The division of labour between different industries will be more precise and clear-cut, while exchanges between upstream and downstream enterprises in different production bases are expected to become more frequent. As such, Hong Kong can expect to play a larger role in trade between RCEP members, especially in electronic products and other industrial items.” Mr Kwan added.

World-class professional services
“When raising funds for investment in RCEP countries, mainland enterprises can use Hong Kong’s professional project evaluation and sustainability assessment services. They can also set up regional offices in the city to enhance overall operational efficiency. In addition, Hong Kong also offers matching services to help mainland companies identify and screen potential business partners in the RCEP region.” said Head of ACCA Hong Kong, Jane Cheng said.

“Having a thriving global community of accounting professionals, ACCA has long been committed to connecting the world and promoting international and intra-regional trade growth. We hope the report will give local industries a better understanding of RCEP opportunities and support them in achieving sustainable recovery and development both during and after the pandemic,” she added.

Fresh RCEP opportunities
RCEP, signed in November 2020, is a free trade agreement between Australia, Brunei, Cambodia, Indonesia, Japan, Korea, Laos, the mainland, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand and Vietnam.

The world’s largest free-trade bloc, making up almost a third of the global economy, has measures to facilitate trade, eliminate tariffs, minimise non-tariff barriers, promote e-commerce and increase market access which are expected to enhance members’ economic integration.

Noting there had already been close intraregional cooperation along supply chains in the past two decades, Ms Cheng said enterprises in the Asia Pacific could now benefit from RCEP, where most import tariffs between member countries will be abolished, customs clearance will be simplified, the principle of accumulation will apply to product-origin rules, and declaration regulations for indirect materials and origins will be relaxed.

On services trade and investment, 65% of the bloc’s services sectors are set to open to overseas investors. “In general, RCEP countries use the ‘negative list’ and ‘national treatment’ models, greatly reducing the risk for overseas investors while allowing them greater access to promising markets such as financial and professional services sectors,” Ms Cheng added.

^The survey was conducted by the HKTDC in cooperation with the Department of Commerce of Guangdong Province in the second half of 2019, interviewing 277 GBA companies mainly in the manufacturing, import/export trade, financial/legal/accounting services, as well as logistics, information technology and technology R&D, wholesale/retail trade sectors.

References
– HKTDC Research website: http://research.hktdc.com/
– The Association of Chartered Certified Accountants: https://www.accaglobal.com/hk/en.html
– Tapping the RCEP Opportunities: Hong Kong to Maximise GBA’s Unique Edge as a Business Platform: https://bit.ly/3CajZlM
– Photo Download: https://bit.ly/3HtcnPa

Media enquiries:
HKTDC
Beatrice Lam
Tel: +852 2584 4049
Email: beatrice.hy.lam@hktdc.org

ACCA
Jacqueline Lam
Tel: +852 2973 1106
Email: jacqueline.lam@accaglobal.com

About the 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

About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global professional body for professional accountants. It is a thriving global community of 233,000 members and 536,000 future members based in 178 countries and regions, who work across a wide range of sectors and industries. The association upholds the highest professional and ethical values. ACCA now has 28,000 members and 167,000 future members in China, with 11 offices in Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Shenyang, Qingdao, Wuhan, Changsha, the Hong Kong Special Administrative Region (SAR) and Macao SAR. ACCA offers everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. Through its cutting-edge research, ACCA leads the profession by answering today’s questions and preparing for the future. Find out more at accaglobal.com/hk or follow ACCA Hong Kong on social media: www.facebook.com/ACCA.HongKong | www.instagram.com/acca_hk | www.linkedin.com/showcase/acca-hong-kong | | WeChat ID: ACCA_HK

HKTDC and HSBC joint survey shows Greater Bay Area start-ups optimistic on growth prospects

Nearly one in five entrepreneurs expect revenue to double in three years

Most start-ups in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are optimistic about their growth prospects, a joint survey by the Hong Kong Trade Development Council (HKTDC) and HSBC shows. Of all the respondents, 71% expect annual revenue to grow more than 25% in the next three years, with 18% anticipating revenue to more than double.

Christina Ong, Head of Business Banking, Commercial Banking, Hong Kong, HSBC, and HKTDC Director of Research Nicholas Kwan announce results of the survey on the GBA Start-up Ecosystem at a press conference today (15 November)

With a massive population of more than 86 million, robust consumption driven by an expanding middle class, and fast-growing innovation and technology (I&T) adoption, the GBA offers tremendous business opportunities, the start-up community believes. Biotechnology start-ups were the most optimistic, with nearly 30% of respondents expecting revenue to double in the next three years. In addition, about 30% of GBA start-ups plan to expand in the next three years. While Hong Kong start-ups eye opportunities in Shenzhen, mainland start-ups plan to tap into Guangzhou and Zhongshan.

HKTDC Director of Research Nicholas Kwan said GBA cities strive to nurture start-ups through a range of policy measures and funding schemes, providing new impetus for economic growth. “The Greater Bay Area brings together the advanced manufacturing, professional services and I&T industries, which leverage their respective strengths to achieve integrated development. This will further enhance the overall competitiveness of the Greater Bay Area,” he said.

Christina Ong, Head of Business Banking, Commercial Banking, Hong Kong, HSBC, said: “With combined strengths of an international capital market for fundraising, research capabilities and an enormous consumer market, the GBA is a strong breeding ground for entrepreneurs and start-ups with a vibrant and diversified ecosystem. Through fostering collaboration with key ecosystem partners such as HKTDC, HSBC is committed to help companies unlock the huge potential in the city cluster.”

Funding boost needed
Most (81%) respondents were satisfied with the start-up ecosystem in their respective city. Start-ups in new retail sector were most satisfied with the ecosystem, with 90% giving a score of seven or more out of 10; followed by respondents from sectors of new economy (86%) and I&T and hardware (85%). Funding to support their business ambitions tops the start-ups’ agenda. Respondents named inadequate funds (56%), market uncertainty (31%) and keen market competition (31%) as key factors affecting expansion plans.

Strong demand for Hong Kong services
More than 80% of respondents will use Hong Kong services in the next three years, mostly banking services (such as trade financing, cross-border settlement and lending), followed by accounting, auditing and tax consulting services (such as due diligence); exhibition and trade fair services, as well as other professional services (such as advertising, marketing, testing and certification). The Hong Kong banking services most used by respondents were trade-related services (36%) such as import and export financing, insurance claims and letters of credit.

Mr Kwan believed Hong Kong can offer reliable, efficient and quality services to GBA start-ups as the city’s professional services are in line with international practices, and a large pool of experienced talent familiar with both overseas and mainland markets supports the sector. Hong Kong is the world’s largest and most important offshore renminbi (RMB) business centre, he said, and has an internationalised financial regime with a stable financial market, many GBA enterprises use Hong Kong as a platform for fund-raising and overseas expansion.

Ms Ong added: “Hong Kong continues to bolster its role as an international financial centre and a key gateway for companies that look to expand in the GBA. The acceleration of cross-border business activities is set to fuel the demand for seamless financial solutions and dedicated support from the professionals.”

Diverse strengths
Survey respondents saw unique advantages in different GBA cities, with Hong Kong having a sound intellectual property protection system, world-class scientific research capabilities, robust financial regulation and internationalised service industries. Shenzhen has first-rate scientific research facilities and abundant research and development (R&D) talent, while Guangzhou is the national base for advanced manufacturing, with sophisticated supply chains and production support facilities, boosting technology transfer and application for start-ups.

Mr Kwan concluded: “In the framework of cooperation between GBA cities, Hong Kong can leverage its R&D strengths as well as its roles as an internationalised city and international financial centre to bring together innovation resources from the region and other parts of the world to promote the development of the GBA start-up ecosystem. Hong Kong and Shenzhen can further step up their cooperation in technology commercialisation.”

# The HKTDC conducted a survey in August and September 2021 to assess the start-up ecosystem in the GBA. A total of 308 GBA start-ups operating in various sectors – including new economy, information technology and hardware, innovative and professional services, and biotechnology – that had been established no earlier than 2016 were interviewed by phone or online. They were asked to rate their respective GBA city, in terms of R&D environment, business environment, funding support and entrepreneurship support. The study also featured in-depth interviews with 10 entrepreneurs as well as representatives from incubators and start-up platforms to gauge their views on Hong Kong as a start-up platform in the GBA.

References

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 trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

About HSBC
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,969bn at 30 September 2021, HSBC is one of the world’s largest banking and financial services organisations.

Media enquiries
HKTDC
Beatrice Lam
Tel: +852 2584 4049
E-mail: beatrice.hy.lam@hktdc.org

HSBC
Valerie Sun
Tel: +852 3989 9374
E-mail: valerie.k.y.sun@hsbc.com.hk

China Tonghai Securities Received “Private Wealth Management Award of Excellence” at Now TV Leadership Business Award 2021

China Tonghai International Financial (Tonghai Financial or The Group) is proud to announce that China Tonghai Securities (Tonghai Securities) has won the “Private Wealth Management Award of Excellence” at Now TV Leadership Business Award 2021.

Now Business News Channel (NOW BNC) has launched the “Leadership Business Award” to recognize brand achievements in various categories including Real Estate & Property, Banking & Finance, Telecommunications & Insurance. The objective is to deepen the understanding of the brand image and achievements of the awarded brands. Awarded companies were nominated and selected by panel of Judges that were formed by Editorial & Research team of Now BNC together with representatives from financial and academic professions, which is an encouraging recognition of the company’s commitment and its people’s dedication to the industry.

Mr. Stacey Wong, Chief Operating and Risk Officer of Tonghai Financial attended the award ceremony and received the award on behalf of Tonghai Securities at the ceremony, said, “I am delight that our business have received such prestigious recognition. This award is an affirmation of our drive to meet customers’ needs and targets in wealth management. Tonghai Financial will continue to provide our clients with not only diversified securities, insurance and investment products, but also customised and professional financial planning.” Now TV Award is designed to honour the good corporate governance practice, the award ceremony also served as a platform for engagement and the exchange of successful strategies.

Sustainable growth in this ever-changing environment is indeed a challenge, our commitments in providing full-service excellence and client-focused approach propel clients forward, which are keys to our success in dealing with all types of change. In its continued drive for quality service, Tonghai Financial will take our way forward with solid brand beliefs in becoming the growth partner that helps clients take advantage of opportunities and reach their goals.

About China Tonghai International Financial Limited
China Tonghai International Financial Limited (the “Company”, Stock Code: 00952.HK) is a Hong Kong based financial services group which is listed on the Main Board of The Stock Exchange of Hong Kong Limited. The Company was publicly listed in Hong Kong in 1997 and joined the big family of Oceanwide Holdings Co., Ltd. (Stock Code: 000046.SZ) in 2017. Tonghai Financial is committed to building a comprehensive, full-licensed integrated financial platform. The core businesses of the Company are brokerage business, interest income business, corporate finance business, asset management business and investments and others businesses. The Company strives to become the ideal partner for both corporate and individual investors in Hong Kong and China. The Company also offers premier one-stop financial services to its clients. The Company continued to provide capital markets services through its representative office or the wholly-owned foreign enterprise in Shenzhen, Shanghai, Shenyang, Ningbo, Dalian, Beijing, Chengdu, Hangzhou and Xiamen of the PRC and through its networks of Global Alliance Partners network and Oaklins International.

For further information, please contact:
China Tonghai International Financial Limited – PR and Communications
Jane Chan Tel: (852) 2217-2888 Email: jane.chan@tonghaifinancial.com
Mandy Lo Tel: (852) 2217-2753 Email: mandy.lo@tonghaifinancial.com
Charlie Chan Tel: (852) 2217-2504 Email: charlie.chan@tonghaifinancial.com

Grand Ming Group Holdings Limited Announces Interim Results for the Six Months Ended 30 September 2021

  • Profit for the Period amounted to HK$69.2 Million
  • Declared an Interim Dividend of 4.0 HK Cents per Share

Grand Ming Group Holdings Limited (the Company and together with its subsidiaries, the Group, stock code: 1271.HK) today announces its interim results for the six months ended 30 September 2021 (FH 2021/22).

Highlights:

  • Profit for the Period amounted to HK$69.2 Million
  • Declared an Interim Dividend of 4.0 HK Cents per Share
  • Revenue amounted to HK$586.1 million, a decrease of 25.4% from the last corresponding period.
  • Net profit was HK$69.2 million, representing a decrease of 1.4%.
  • Underlying profit, excluding changes in fair value of investment properties, decreased 65.0% to HK$29.2 million
  • Declared payment of an interim dividend of 4.0 HK cents per share.
  • Scale up investments in upgrading the infrastructure and facilities of its existing data centres and look forward to expand the build-to-lease high tier data centre network.
  • Seize opportunity to increase land reserve for property development in Hong Kong.
  • Execute the plan for property development in Nanning, Guangxi Province, China and eye to explore opportunities to step into the Greater Bay Area, both target for luxurious senior residential market.

The Group’s consolidated revenue decreased 25.4% from HK$786.1 million for the six months ended 30 September 2020 (“FH 2020/21”) to HK$586.1 million for FH 2021/22. Decrease in revenue was attributed to lower revenue being recognised from the construction project in Kai Tak which was at the completion stage during the period under review.

The Group’s net profit for FH 2021/22 was approximately HK$69.2 million, representing a decrease of approximately 1.4% when compared to that of approximately HK$70.2 million for FH 2020/21. Earnings per share was 4.9 HK cents (2020: 4.9 HK cents). The Group’s underlying profit for FH 2021/22, excluding the change in fair value of investment properties, amounted to approximately HK$29.2 million, representing a decrease of approximately 65.0% as compared to an underlying profit of approximately HK$83.4 million for FH 2020/21. Underlying earnings per share was 2.1 HK cents (2020: 5.9 HK cents). The decrease in net profit was mainly due to the combined effect of: (i) lower revenue and profit recognised from construction project in Kai Tak which was at the completion stage during FH 2021/22; (ii) lower margin attained from the sales of 5 typical units of Cristallo during FH 2021/22 as compared to sales of 1 duplex and 1 typical unit during FH 2020/21; and (iii) fair value gain from the revaluation of the Group’s investment properties.

The Board declares to pay an interim dividend of 4.0 HK cents (2020: 4.0 HK cents) per share, payable on 16 December 2021 to shareholders whose names appear on the Company’s register of members on 3 December 2021.

During FH 2021/22, revenue derived from the construction business decreased by approximately 43.4% or HK$233.7 million, from approximately HK$538.0 million for FH 2020/21 to approximately HK$304.3 million for FH 2021/22. The decrease was primarily because lower revenue was recorded from the construction project at Kai Tak that was at the completion stage during the period under review.

The data centre leasing business achieved a healthy growth. Revenue derived from this segment increased by approximately 17.6% or HK$13.8 million, from approximately HK$78.1 million for FH 2020/21 to approximately HK$91.9 million for FH 2021/22, primarily driven by the increased utilisation of data centre spaces in iTech Tower 2 (one of the Group’s current data centre in Kwai Chung). The Group on the other hand execute the plan to expand its data centre network by acquiring two land parcels at No.3 On Kiu Street and No.8 On Chuen Street in Fanling, the New Territories respectively in September 2020. These two lands are planned to develop into two new high-tier data centres which are targeted to deliver in mid-2025 and mid-2026. Application for change of land use of the two lands are now in progress.

The Group’s first property development project “The Grand Marine” at Tsing Yi, the New Territories is being developed into two residential towers with clubhouse and car park facilities. It provides a saleable area of approximately 345,000 square feet for 776 residential units. The property’s pre-sale which began in November 2019 received applauding sentiment and over 92% of the residential units had been pre-sold contributing total contracted sales of approximately HK$4.8 billion. Interior fitting-out works are in progress and the project is expected to be completed by the end of 2021.

The Group’s luxury residential project, CRISTALLO, at No. 279 Prince Edward Road West, Kowloon was well sold. Sales and delivery of five apartments had been completed, and revenue of approximately HK$188.9 million was recognized accordingly.

The Group continues to grow the property development business by actively replenishing its land banks. In January 2021, the Group acquired a land parcel at No.1 Luen Fat Street, Fanling, the New Territories and intends to develop into a residential-cum-retail complex with a total gross floor area of approximately 36,000 square feet. The Group has submitted development plan for approval and thereafter will proceed with the change of land use and land premiums application. In early October 2021 the Group acquired a site located at No. 41, 43 and 45 Pau Chung Street in To Kwa Wan, Kowloon and will redevelop it into a residential-cum-commercial project which comprises a residential tower with retail shops at the lower level covering a total gross floor area of approximately 31,000 square feet. The general building plan for this project had been approved. Its foundation works had already been completed, and the superstructure works is expected to commence in the first quarter of 2022.

The Group rolls out the expansion into Mainland China as planned. In July 2021, it acquired its first land parcel through government public auction which is located at Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province with a site area of approximately 53,334 square metres. The Group plans to develop the land into a composite of residential and commercial complex coupled with luxury residence comprising villa and low-rise apartment for the elderly and retired and their families under the theme of leisure and healthy lifestyle. The land site had been handed over to the Group and site clearance works are now underway. Planning and design works are also in progress.

Mr. Chan Hung Ming, Chairman and Executive Director of Grand Ming Group Holdings concluded, “Turning to the long-term, we believe sustainable growth of the Group lies in parallel development of our property development and data centre build-to-lease businesses. The residential property market in Hong Kong remained resilient even in midst of the severe pandemic period which boosts our confidence to actively accumulate our land bank for future development. The surging demand for high-tier data centres prevails as remote work and learning mode shifts to a long-term trend. We will stay focused for refining our data centre portfolio so as to provide up-to-date superior infrastructure and facilities for our customers, while looking for suitable sites to expand our data centre network. On the other hand, because of the boom of ageing population, we see huge potential in the senior housing market in Mainland China especially for affluent senior population. We finally make our first move into the Mainland China via the acquisition of the land parcel in Wuming, Nanning City, PRC and we will keep on exploring potential property development projects, in particular senior residence projects, in Nanning and cities in the Greater Bay Area.”

About Grand Ming Group Holdings Limited (Stock code: 1271.HK)

The Group is principally engaged in the business of building construction, property leasing and property development. As a local wholesale co-location provider of high-tier data centres, the Group is one of the dedicated service providers in Hong Kong which owns and uses the entire building for leasing to customers for data centre use. Its clientele includes multinational data centre operator, telecommunications company and financial institutions. The Group owns and operates two high-tier data centre buildings, namely iTech Tower 1 and iTech Tower 2. It also acquired two pieces of land in Fanling, the New Territories for developing into two high-tier data centres. Furthermore, the Group launches a residential development project namely “The Grand Marine” at Sai Shan Road, Tsing Yi, as well as a luxury residential project, Cristallo, at Prince Edward Road West, Kowloon. The Group also owns a piece of land at No.1 Luen Fat Street, Fanling, New Territories with total gross floor area of approximately 36,000 square feet for developing a residential-cum-retail complex, as well as a site at No. 41, 43 and 45 Pau Chung Street, To Kwa Wan, Kowloon for redeveloping into a residential-cum-commercial project with a total gross floor area of approximately 31,000 square feet. In Mainland China the Group owns a piece of land at Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province with a site area of approximately 53,334 square metres. Please visit www.grandming.com.hk/eng/intro.php.

Media Contacts:
Angel Yeung
Jovian Communications Ltd
Email: news@joviancomm.com

Legend Capital Leads TuringQ’s Pre-A Funding

On November 10th, TuringQ, China’s first photonic quantum computing company, announced its completion of a pre-A round of financing of several hundred million yuan, led by Legend Capital. The funds will be mainly used for R&D and commercialization of quantum algorithms.

Recent years see global capital’s favor to photonic quantum computing, while 2021 has been regarded as the first year of photonic quantum by the industry. Qihui Fan the Managing Director of Legend Capital, said that Legend Capital has been making systematic planning on core technology. Quantum computing will have a profound impact on many industries and even bring disruptive changes in all walks of life. Many startups and large companies have entered into the market, which helps boost the process of quantum computing from the laboratory to the real market. Legend Capital will help TuringQ further expand its leading advantages and promote the practical application and industrialization of photonic quantum computing.

Established in February 2021, TuringQ is committed to the research of quantum information. Through the R&D of lithium niobate on insulator (LNOI) photonic chips and femtosecond laser direct writing technology, the photon chips that enable large-scale photonic circuits integration can be prepared and an optical quantum system with a whole new level of scale and complexity can be built. At present, TuringQ has achieved leading advantages in photonic quantum chips, scientific research-grade photonic quantum computers, photonic quantum measurement and control systems, photonic quantum EDA software, and photonic quantum cloud platforms.

The founder of TuringQ, Professor Xianmin Jin, who graduated from the University of Science and Technology of China, has four-year experience in the photonic quantum chip, quantum computing research and development in the University of Oxford. During the period, he was awarded the Marie Sklodowska-Curie Actions by the European Union and Wolfson College Fellow. In addition, TuringQ has nearly 150 scientists and engineers from Oxford University, Imperial College, University of California, Berkeley, Shanghai Jiao Tong University, Fudan University, etc., with over ten years of experience in the field of photonic quantum information and photonic chips.

After the financing, TuringQ could gather more outstanding scientists and engineers to accelerate the pace of product iteration and application. At the same time, TuringQ can build an open and sustainable quantum computing application industry ecology, empowering various fields, including scientific research and industrial production.

Q&M Dental net profit surges 154% to S$35.4M for nine months ended 30 September 2021

  • Revenue jumps 62% to S$152.3 million for 9M2021, and 48% to S$57.7 million for 3Q2021
  • Rewards shareholders with proposed interim dividend of 1.0 Singapore cent per ordinary share for 3Q2021; total dividends of 3.0 Singapore cents per ordinary share for 9M2021 with dividend yield of 5.4%[1]
  • Steady growth in core dental and medical clinics segment
  • Progress in Acumen Diagnostics with pipeline of new PCR tests for infectious diseases, sepsis and cancer in addition to Covid-19 testing

Q&M Dental Group (Singapore) Limited (Q&M or together with its subsidiaries, the Group), a leading private dental healthcare group in Asia, today reported net profit after tax attributable to shareholders of S$27.3 million for the nine months ended 30 September 2021 (“9M2021”), and net profit after tax attributable to shareholders S$9.5 million for the three months ended 30 September 2021 (“3Q2021”).

Quarterly Financial Performance since 4Q2019
The Group has grown stronger compared to the pre-Covid-19 period. The Group’s revenue rose by 58% from S$36.5 million in 4Q2019 to S$57.7 million in 3Q2021, or 6.78% quarterly compounded growth from 4Q2019 to 3Q2021. Profit before tax grew 112% from S$7.9 million in 4Q2019 to S$16.7 million in 3Q2021, or 11% quarterly compounded growth from 4Q2019 to 3Q2021.

Dr Ng Chin Siau, Chief Executive Officer of Q&M added, “The Group’s strong financial performance and accomplishments continue to be propelled by our corporate values and philosophy of “Improving Oneself & Unity”. We believe that every individual within Q&M strives for continual improvement, and seeks knowledge and excellence in all their endeavours, and this has enabled the Group to attain sustainable growth.”

For the 9M2021, revenue contribution from dental and medical clinics increased by 36% to S$116.6 million. Revenue contribution from medical laboratory and dental equipment & supplies segment surged by 334% to S$35.7 million. The Group’s EBITDA also increased 104% to S$52.9 million, from S$25.9 million in the previous period. Earnings per share increased to 2.89 Singapore cents, from 1.46 Singapore cents in the previous period.

The Group’s net profit after tax increased by 154% to S$35.4 million from S$13.9 million in the previous period. Profit after tax attributable to owners of the parent grew by 98% to S$27.3 million, from S$13.8 million in the previous period.

For 3Q2021, revenue contribution from dental and medical clinics increased to S$39.3 million and contribution from medical laboratory and dental equipment & supplies segment also soared 932% to S$18.4 million, due to the same reasons stated above. EBITDA also increased to S$21.4 million, up by 121% from the previous period. The Group’s net profit after tax increased by 175% to S$13.9 million, from S$5.1 million in the previous period. Profit after tax attributable to owners of the parent grew by 69% to S$9.5 million, from S$5.6 million in the previous period.
As at 30 September 2021, the Group financial position remains strong with net assets of S$121.5 million with cash and cash equivalents of S$49.6 million. Bank borrowings and finance leases amounted to S$83.8 million.

Dividend
The Group proposes an interim dividend of 1.0 Singapore cent per ordinary share for 3Q2021. Earlier in the year, the Group paid 1.0 Singapore cent in 1Q2021 and 1.0 Singapore cent in 2Q2021. The 3Q2021 dividends declared, will be paid to all shareholders on 3rd December 2021.

Growth & Expansion In Operations
As at 30 September 2021, the Group’s number of dental clinics in Singapore has grown to 90, from 81 as at 30 September 2020. Similarly in Malaysia, the number of dental clinics has increased to 38, as compared to 33 previously. In order to support this growth, the Group has also increased its total number of dentists to 270 as at 30 September 2021, as compared to 250 previously.

Most recently in 3Q2021, the Company opened 3 new clinics in Singapore, in Canberra, Bedok Reservoir and IMM shopping mall.

The Group also continues to focus on its investments in opportunities in allied sectors, with its Associated Company, Aoxin Q&M Dental Group Limited (“Aoxin”)’s recent acquisition of 49% shareholding of Acumen Diagnostics Pte. Ltd. (“Acumen Diagnostics”), which raised Q&M’s effective interest in Acumen Diagnostics from 51% to 67%. With 3 scientists and 21 technicians, Acumen Diagnostics’ technical capabilities and infrastructure in molecular diagnostics, spans research and development, manufacturing, and clinical laboratory testing.

Outlook & Further Expansion Plans
Barring any unforeseen circumstances and any worsening of the Covid-19 situation, which may necessitate reimposing curbs on economic activity, the Group is optimistic on its business outlook and prospects moving forward.

For Acumen Diagnostics, the Group will continue to offer Covid-19 testing by PCR for patients that require PCR test results and for travellers as Singapore opens its borders, as well as distribute Covid- 19 antigen rapid tests (ART). The Group will also develop a panel of new PCR tests in infectious diseases, sepsis and cancer.

[1] Based on closing share price of 55.5 cents as at 9 November 2021

About Q&M Dental Group (Singapore) Limited (QC7.SI) www.QandMDental.com.sg
Q&M Dental Group (Singapore) Limited (“Q&M” or together with its subsidiaries, the “Group”) is a leading private dental healthcare group in Asia. The Group owns the largest network of private dental outlets in Singapore, operating 90 dental outlets across the country. Underpinned by about 270 experienced dentists, 7 doctors and more than 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.

Outside of Singapore, the Group has 38 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People’s Republic of China (“PRC”). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange, which operates dental clinics and hospitals primarily in the North- eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within ASEAN.

In 2018, the Group made inroads into the development of advanced technology in healthcare with the establishment of EM2AI Pte. Ltd. (“EM2AI”, formerly known as Q&M Dental AI Pte. Ltd.). EM2AI focuses on developing an Artificial Intelligence (AI) ethical enhanced guided treatment plan.

In 2019, the Group expanded into dental postgraduate education with the establishment of the Q&M College of Dentistry. It offers Singapore’s first private postgraduate diploma programme in clinical dentistry.

In 2020, the Group also expanded into the medical laboratories and research industry with the incorporation of Acumen Diagnostics Pte. Ltd. (“Acumen Diagnostics”). Acumen Diagnostics currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID- 19 testing.

The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited (“SGX- ST”) on 26 November 2009.

This release can be found at https://bit.ly/3FlndVF

For more information, please contact:
Waterbrooks Consultants Pte Ltd
Tel: +65 6958 8008 M: +65 9690-4959 email: query@waterbrooks.com.sg
Wayne Koo – wayne.koo@waterbrooks.com.sg M +65 933 88166
Derek Yeo – derek@waterbrooks.com.sg

Tiger Brokers (Singapore) Receive Approvals from SGX as Depository Agent, Clearing and Trading Member for Investor Trades

Offering a more simple, reliable and efficient process between investors and the SGX

Xiaomi-backed online brokerage Tiger Brokers (Singapore) Pte. Ltd. is pleased to confirm that it has received official approval as Clearing Member and Depository Agent of the The Central Depository (Pte) Limited (CDP) and Trading Member of the Singapore Exchange Securities Trading Limited (SGX-ST) and Singapore Exchange Derivatives Trading Limited (SGX-DT), from the Singapore Exchange Ltd (SGX).

Eng Thiam Choon, CEO of Tiger Brokers (Singapore) commented, “Tiger Brokers has always focused on bringing a superior and seamless user experience to investors. Our status as a Clearing Member of SGX’s CDP will strengthen our presence amongst Singaporean investors and financial institutions as a recognised and credible regulated online brokerage, while providing the added security and efficiency that could possibly reduce the cost and risk of settling multiple transactions among multiple parties. This will also allow us to focus on Gen Z investors and beyond, trading and investing as part of their wealth management, while gaining a higher level of trust with institutional partners to onboard our B2B platform.”

Pol de Win, Senior Managing Director, Head of Global Sales and Origination at SGX said, “Tiger Brokers has been a partner of SGX for a number of years now and we are delighted to be deepening our partnership with them. Tiger Brokers offers fast, efficient and competitive trading solutions for customers worldwide. As the first online brokerage with SGX memberships across securities trading and clearing, securities depository and derivatives trading, Tiger Brokers will enjoy even greater access to SGX’s range of investment and risk management solutions as well as a wider pool of international investors.”

On top of the Singapore Exchange, Tiger Brokers offers its investors access to five other different stock exchanges such as the New York Stock Exchange, NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, Hong Kong Exchange, and the Australian Securities Exchange. This membership with SGX marks one of the latest in a series of continued enhancements to Tiger Trade’s user experience when it comes to investing.

Tiger Brokers (Singapore)’s parent company, UP Fintech Holding Limited (NASDAQ: TIGR) or Tiger Brokers (including all of its subsidiaries and consolidated entities), recently shared their unaudited financial results for Q2 2021. The Company saw a total revenue at US$60.2 million, a 98.7 per cent increase as compared to the same quarter in 2020 and has 1.65 million customer accounts as per Q2 2021. The total trading volume has also increased by 118.2 per cent at US$102 billion compared to US$46.8 billion same time last year. The number of funded accounts has also increased by 215.2% to 529.1K on a year-on-year (y-o-y) basis across the globe.

Tiger Brokers (Singapore) said in earlier September 2021 that it hit a significant milestone as the number of account openings represented by Generation Z[1] (Gen Z) saw an increase of over 90 per cent as compared to Q2 last year. As of August 2021, Singapore contributes to around 40 per cent of the Group’s international funded accounts beyond China.

Earlier this year, Tiger Brokers (Singapore) joined the Securities Association of Singapore (SAS) as a Member. The membership allows them the opportunity to join other retail broking houses and institutional stockbrokers to discuss key issues concerning the industry and present collective views and proposals to regulators and authorities on a common platform. This is part of Tiger Brokers’ continuous effort to keep itself up to date on investor education in the securities and investment space, and to uplift the high industry standards through public education on the awareness towards investment products and risks involved.

Tiger Brokers (Singapore) is also proud to be a Silver Sponsor for the upcoming Singapore FinTech Festival (“SFF”) in November 2021. Tiger Brokers will be conducting a workshop together with guest speakers from Marketnode and PhillipCapital. Nasdaq has also invited Tiger Brokers (Singapore) to participate in their flagship programme – TradeTalks, which will be running throughout the SFF week.

The Tiger Trade mobile application is available for download at the Apple App Store and Google Play Store.

[1] Ages 18 to 24 years old

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 1.4 million customers worldwide currently, with a total trading volume exceeding USD123.8 billion in Q1 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

About UP Fintech Holding Limited
UP Fintech Holding Limited 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. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s 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 on the Company, 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.
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.

Pinthong Industrial Park (SET: PIN) debuts on the SET on Nov 9

  • Highlighting EEC as ideal location for its logistics park to boost recurring income
  • Poised to launch Pinthong IE 6 to draw S-Curve companies for sustainable growth

Pinthong Industrial Park PCL (SET: PIN), a developer and manager of eco industrial towns, begins the first day of trading on the SET on November 9, with the symbol PIN, as it prepares to develop a new logistics park and open the Pinthong Industrial Estate 6 for sale. Responding to government policy to attract foreign investors in the S-Curve industrial group to the EEC, the move is expected to boost its recurring income, leading to a stable and sustainable growth.

Mr. Pira Patamavorakulchai, Chief Executive Officer of Pinthong Industrial Park, said that PIN has a strong operational foundation, supported by over 25 years of experience as a developer of eco industrial towns that meet ISO 14001-standard and have won Eco-Excellence awards in Chon Buri and Rayong provinces. The company currently operates seven industrial estates and logistics parks covering more than 7,500 rai of land in the Eastern Economic Corridor (EEC) near Laem Chabang and Map Ta Phut Deep Sea Ports, which are located on the main highway connecting Suvarnabhumi and U-Tapao airports. The company is also planning to bring in new technologies to enhance the management of its projects to transform them into Smart Cities that are environmentally-friendly.

Furthermore, the company is aiming to achieve sustainable growth in response to the government’s policy to attract foreign investment in the S-Curve industries. In this instance, PIN has prepared to put on sale developed land in Pinthong Industrial Estate 6 in Rayong within the last quarter of this year as well as develop a new logistics park for long-term leasing and build manufacturing complexes and warehouses for leasing. These facilities cover the total area of 100,000 square meters, divided into two phases: The first phase, expected to be completed in 2022, will enable PIN to boost its sales and recurring income from leases of the manufacturing and warehousing complexes, as well as income from common area fees. These revenues will contribute to strengthening the company’s performance.

“We aim to develop industrial estates to grow steadily and sustainably along with the Thai economy. Our strategy to create stable and recurring income through the development of a new logistics park and sales of land in the Pinthong Industrial Estate 6 toward the end of this year will be a good opportunity to showcase the potential of PIN’s projects that will expand our S-Curve customer base. This is our way of supporting our country to realize the Thailand 4.0 vision,” Mr. Pira says.

Mr. Prasert Tantayawit, Managing Director, Investment Banking Department, Maybank Kim Eng Securities (Thailand) Public Company Limited, as financial advisor and joint lead underwriter, says Pinthong Industrial Park PCL has a great potential for growth as the country is opening to foreign investors to establish their export bases as the global economic recovery begins. PIN’s strengths lie in its strategic plan to develop its complexes into eco-friendly “smart cities” and the ideal location of its seven projects in the Eastern Economic Corridor (EEC). At the same time, the company’s plan to develop a new logistics park and to sell developed land in its Pinthong Industrial Estate 6 is certain to benefit from new investment fund from foreign investors.

Mr. Thanat Wongchukaew, Managing Director, Krungsri Securities Public Company Limited, as joint lead underwriter, says investors’ response was quite positive to PIN shares reflecting the investors’ trust and understanding in the company. The use of proceeds from the IPO will be (1) expansion of new developing projects, specifically the Pinthong Industrial Estate 6 in Rayong and the logistics park in Chonburi, which will boost the recurring income from leasable plots of land and leasable attached and detached factories and warehouses as well as service fee income from infrastructure and facilities services, (2) debt repayment and (3) working capital. These revenues will contribute to PIN’s steady growth. The company has a dividend policy of paying dividends at a rate of not less than 50 percent of the company’s net profit after tax, statutory reserve by law and any other reserves. As a result, I believe that PIN will be a growth stock that will help revitalize investors’ interest in the industrial estate developer sector, he said.

Released by Public Relations Dept., MT Multimedia Co. Ltd. for Pinthong Industrial Park PCL
For more information, please contact: Yuttachai Praikhanahok (Tle)
Tel: +66-91-736-2866, Email: yuttachai.p@mtmultimedia.com

Society Pass (SoPa) Announces Pricing of US$26 Million Initial Public Offering

  • Common Shares to Trade on NASDAQ under Ticker “SOPA”

Society Pass Incorporated (Nasdaq: SOPA) (SoPa or the Company), a leading Southeast Asian data-driven loyalty platform, today announced the pricing of its US$26 million initial public offering, offering 2,888,889 shares of common stock (the Shares) at a price of $9.00 per share. The shares have been approved for listing on the Nasdaq Capital Market (Nasdaq) and will trade under the ticker symbol SOPA beginning November 9, 2021.

The Company has granted the underwriters a 45-day option to purchase up to 433,333 additional shares at the initial public offering price to cover over-allotments, if any. The offering is expected to close on November 12, 2021, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager for the offering.
“We are immensely proud to be the first Vietnam-based company to complete a traditional IPO on a stock market outside of Vietnam. As an acquisition-led technology company, this milestone marks the beginning of our next phase of growth as we expand beyond Vietnam into other parts of Southeast Asia with particular focuses on Philippines and Indonesia. Our Nasdaq IPO and access to public markets allow us to connect investors to some of the fastest growing retail e-commerce opportunities in the world,” said Dennis Nguyen, Founder, Chairman and Chief Executive Officer, Society Pass.

A registration statement relating to the Shares was declared effective by the SEC on November 8, 2021. 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.

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

Beryl 8 Plus (SET: BE8) aims to become the leading digital transformation driver in ASEAN

  • Investing to develop tech solutions and expand capability through strategic partnerships

Beryl 8 Plus PCL (SET: BE8), an end-to-end digital transformation expert, is launching an investment plan following its listing on the MAI, highlighting the growth potential of its shares in the tech industry with an eye on developing technological innovations and its own solutions. By joining forces local and foreign business partners, a strong foundation will be laid for the company to provide a comprehensive service offering that will help clients across all industries be ahead of digital disruption curve to grow and succeed. The company launched its international expansion plan with the opening of its office in Vietnam in 2019 to pursue greater growth opportunities and to become a leading digital transformation driver in ASEAN.

Mr. Apisek Tewinpagti, Chief Executive Officer Beryl 8 Plus, whose shares hit the Market for Alternative Investment (MAI) under the Technology Industry Group with the symbol “BE8” on Nov. 8, 2021, said that BE8 is confident that the company’s strong foundation in end-to-end digital transformation will make BE8 the technology stock to watch. Investors will be attracted by the company’s plan to drive digital transformation in ASEAN to achieve sustainable growth.

The company has laid a strong foundation to provide end-to-end digital transformation services that are comprehensive and up to date with constant technological changes. In addition to investing in technology and software development, BE8 also has formed partnerships with both Thai and foreign partners to strengthen its potential in offering comprehensive products and services for all industries to ensure customer success and help clients across ASEAN to be ahead of the digital disruption curve.

In 2019, BE8 set up Beryl 8 Plus Vietnam Co., Ltd. as it began expansion to overseas markets. The move is a part of its plan to lead the field of digital transformation and customer relationship management services in ASEAN. The company is in the process of growing its personnel with technological expertise to be able to fulfill demands of clients of all sizes and industries.

“We are prepared to leverage our expertise in end-to-end digital transformation to provide both strategy and technology consulting services to ensure clients gain the greatest benefits and succeed in their endeavor to achieve sustainable growth,” said Mr. Apisek.

Dr.Visit Ongpipattanakul, Managing Director of Trinity Securities Company Limited, as financial advisor and underwriter, adds that BE8 has a strong business operation and exhibits a long-term growth potential. Being an end-to-end digital transformation expert with cutting-edge technological innovations from world-class business partners as well as its own software development capability, the company’s shares in the technology industry group are outstanding. Furthermore, the current state of the tech industry provides a supportive environment for growth that helps stabilize BE8 share price in the long run and elevate BE8 to lead the digital transformation drive in ASEAN.

Released by Public Relations Dept., MT Multimedia Co. Ltd. for Beryl 8 Plus PCL.
For more information, please contact: Wasana Wongsiri (Jiab)
T: +66-84-359-0659 or +66-2-612-2081 ext 131, E: wasana.w@mtmultimedia.com