Category: Finance

The One Enterprise (SET: ONEE) debuts ONEE shares on first trading day

  • Leveraging leadership in Thailand’s integrated media and entertainment business
  • With outstanding and distinctive business model, and long-term sustainable growth
  • Determined to create quality contents for the happiness of Thais and international audience

The One Enterprise PCL (SET: ONEE), the leader in Thailand’s integrated media and entertainment business with over 30 years’ expertise and experience has chosen today (November 5, 2021) as the auspicious day to begin trading on the Stock Exchange of Thailand (SET) with the ticker name ONEE.

The Company will effectively become the highest-value IPO in the Media and Publishing sector in Thailand’s capital market history, with the total offering value of 4.218 billion baht and a market capitalization of approximately 20.241 billion baht. These facts reinforced the Company’s strong fundamentals derived from its leadership in the creation and production of quality and diverse contents catering to all market segment, as well as having multi distribution channels both offline and online which can generate revenue in anyplace at all times.

The Company is ready to build on the success to date after being listed on the SET with new investment plans to enhance the production and creation of quality contents, and the ability to create new and uniquely different content to cater to the ever-changing tastes and behavior of the audience. Also in the pipeline are investments on the enhancement of competitive skills and service efficiency through the development of artistes and other professionals, the development of online channels or OTT platforms, as well as the commitment to uplift Thai contents to the international areana in order to create new opportunities for stable and sustainable growth in the long run amidst the Digital disruption era.

Mr. Takonkiet Viravan, Group Chief Executive Officer of The One Enterprise Public Company Limited (ONEE), stated, “I’m honored and very happy on this occasion that ‘The One Enterprise’ is listing ONEE shares for trading on the Stock Exchange of Thailand in the Media and Publishing sector today. This is a very significant step and an overwhelming pride of the executives, team members and all related parties who have played important roles in the success of the IPO offering and the listing on the SET today. At The One Enterprise, we have conducted the business with the determination to become the leader in Thailand’s integrated media and entertainment business, with thorough outstanding and distinctive business models comprehensively covering all aspects from upstream to downstream. Thanks to our strong foundation as a content creator, we have extensive experience and expertise in producing and creating diverse quality content including dramas, sitcoms, series, variety shows, game shows and news programs that cover all targeted market segments, including premium mass, family, new generation and the ‘edgy’ group to produce popular and extraordinary experiences.

“We also operate comprehensive distribution channels both offline and online, such as Company-owned ONE31 Channel, GMM25 channel that we act as marketing agent, along with radio, social media and OTT platforms of leading partners both at home and abroad. We also provide other related services such as organizing events and concerts, managing and developing artistes and performers under contract, souvenir sales and rental of filming studios. All these can strengthen the Company’s ability to earn revenue from anything at any time as managed by an experienced management team and the new-generation team with a versatile group of actors and artistes who play important roles in driving The One Enterprise to overcome the Digital disruption trend and to create opportunities for continuous, stable and sustainable growth in the long run.”

The One Enterprise operates under the vision: “To be the leader in the creation of entertainment, knowledge and inspiration to deliver happiness to audiences of all genders and ages with international quality that incorporates Thainess onto the world stage”, by focusing on creating quality contents that are popular and producing a unique viewing experience to suit every taste in every era, through leveraging data analysis and in depth understanding of audience behavior, allowing the Company to win the hearts and minds of Thai audiences for a long time. This also includes the continuous increase in the market share of advertising spending through TV channels, as well as developing and expanding to online channels, both social media and OTT platforms, both domestically and internationally, such as Netflix, LineTV, Viu, WeTV, iQiYi, Disney+ Hotstar, etc., to promote quality Thai contents to international audiences in all parts of the world.

The Company’s overall performance in the years 2018 to 2020 has seen exponential growth with total revenues of 4.199 billion baht, 4.818 billion baht and 4.875 billion baht, respectively, representing an average compound annual growth rate (CAGR) of 7.7 percent and a net profits of 73 million baht, 228 million baht and 658 million baht, respectively, representing an average compound annual growth rate (CAGR) of 201.0 percent, driven by an integrated business model that can generate revenue from all channels, as well as the efficient management of costs and expenses. This underscores the strength and success of The One Enterprise that has overcome Digital disruption which have chance the audience behavior that switched from watching programs on television to online channels.

Meanwhile, revenue in the first 6 months of this year was topped 2.783 billion baht, a 29.8 percent increase from the same period last year, while net profits total 455 million baht, representing more than 151.4 percent increase compared to the same period last year. The impressive financial performance has resulted from revenue growth, high profit margin through the effective management of sales and administrative expenses amid the COVID-19 crisis.

The initial public offering (IPO) of The One Enterprise is considered to be the highest-value IPO in the Media and Publishing sector in the history of the Thai capital market. With a total IPO value of 4.218 billion baht and a market capitalization at the IPO price of approximately 20.241 billion baht, The One Enterprise have received overwhelming interest from both local and international institutional investors as well as retail investors, which reflect investor confident in the company strong fundamental and growth potential in the long run.

ONEE plans to utilize proceeds from the IPO to improve competitiveness and further develop efficiency in future services, with plans to increase production capacity and to create international-quality contents by increasing the capability of the production department including that of the script-writing team, the production team, the editing team, and the computer graphic team to become high-quality professional. The Company also plans to develop staff performance both on-stage and back-stage, filming locations as well as related systems and equipment.

In addition, the Company will invest in developing the potential in program production to enhance the viewing experience and attract audiences of all genders and ages with the investment budget of about 500 million baht within 2024. Another plan is to develop information technology capabilities to build a strong technology base that will support the adoption of Big Data to help analyze viewing behavior so that content can be created to suit particular tastes as well as enhancing the potential of providing the Company’s own online channels to become the center of viewing services for a variety of programs that respond to viewing in all time slots with an investment budget of approximately 130 million baht within 2023. Proceeds from the IPO will also be used to restructure the capital based relating to the acquisition of GMM Channel Holding worth approximately 2,200 million baht, while the remaining fund will be retained as working capital to support the opportunity to create future growth.

“We firmly believe that today The One Enterprise is fully ready to become a leading listed companies in the SET through our determination to manage our business efficiently under strict adherence to good corporate governance so that ONEE will become an outstanding stock with strong fundamental having the potential to grow continuously and sustainably for the best interest of all shareholders and other stakeholders who are joining us in our journey to grow continuously and sustainably in the long run,” Mr. Takonkiet concluded.

This information is to be disseminated to investors in Thailand. Please study the product carefully, the conditions, returns and all risks before deciding to invest.
For additional information, please visit: www.theoneenterprise.com

Released by Public Relations Dept., MT Multimedia Co. Ltd. for The One Enterprise Plc.
For additional information, please contact: Thiyaporn (Dah) Sriadunphan
Tel: +66 87 556 6974, Email: thiyaporn.s@mtmultimedia.com

Trintech Named to Inc.’s First-Annual Best-Led Companies List

  • First-ever roundup of companies recognized for management excellence in performance and value creation, market penetration and customer engagement, talent, and leadership team

Trintech, a leading global provider of integrated Record to Report software solutions for the Office of Finance, today announced that it has been named to Inc.’s first-annual ‘Best-Led Companies’ list – a select, data-driven list of the strongest U.S. firms with revenue of $50 million to $2 billion. This novel program is the first Inc. recognition to honor both public and private companies.

The final list recognizes 250 companies that are agile enough to maneuver but also big enough to have a broad impact. These companies employ 35 million people, about one of four U.S. workers. All 250 have a successful track record with leadership teams that spur solid performance, create value, penetrate markets, engage with customers, and more.

To be considered for the list, each company had to fill out an application answering questions about its performance, executive team, and leadership. Applicants were then analyzed via an algorithm that identified the very best companies according to their leadership teams’ superlative accomplishments in four key areas: performance and value creation; market penetration and customer engagement; talent; and leadership team.

“This inaugural list of companies represents the remarkable midsized companies, both public and private, often founder led, that are at the vanguard of reinventing American business,” says Scott Omelianuk, editor-in-chief of Inc. magazine. “With their leadership, all business will benefit from an exciting, competitive future full of possibilities.”

“Innovation is a cornerstone of our ethos,” says Teresa Mackintosh, CEO of Trintech. “And we’re unwavering in our commitment to continue to innovate, even and especially over the last year and a half. Even as we established key strategic partnerships with ServiceNow, Planful, and Microsoft, all providing new solution values for our joint customers, we continued innovating within our own solutions to create greater value for our existing and prospective customers. It is a true honor to be recognized by Inc. on this inaugural list and to be amongst the companies setting the benchmark for others to come.”

Trintech is committed to providing world-class, innovative solutions that deliver increased efficiency, real-time visibility, collaboration and control to mid-market and enterprise organizations around the world. For over 35 years, Trintech has driven innovation and automation throughout the Record to Report (R2R) process with solutions that empower finance and accounting teams with purpose-built technology. Trintech’s solutions enable those teams to go beyond balancing the workload and eliminating manual work from the reconciliation and close process, to analyzing the data and applying human capital and intelligence to higher value tasks such as problem solving and evolving the business with time that is saved.

To compile the list, Inc. evaluated private and public U.S.-based companies with a 2020 revenue of $50 million to $2 billion or a valuation of $50 million to $10 billion using a proprietary 12-point measure of management excellence generated with input from partners at Pitchbook and Shango Labs.

To see the complete list, go to: https://www.inc.com/best-led-companies/2021

The November issue of Inc. magazine is available online now at https://www.inc.com/magazine and will be on newsstands beginning November 9, 2021.

About Inc.
The world’s most trusted business-media brand, Inc., offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across various channels, including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 allows the founders of the best businesses to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

About Trintech
Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company’s cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kelli Shoevlin
214.957.5009
kelli.shoevlin@trintech.com

SOURCE: Trintech, Inc.

Regional insurtech Igloo named among “2021 Inclusive Fintech 50”

  • Igloo has been named amongst the ‘2021 Inclusive Fintech 50’ – from nearly 300 eligible applications globally
  • In August 2021, it also won ‘Insurtech Initiative of the Year’ at the 6th Insurance Asia Awards for its innovative solution with PhilPacific Insurance Brokers & Inc
  • In 2021, Igloo has established over 15 key partnerships in diverse verticals to strengthen its footprint across the region, including leading food delivery and mobile wallet platforms in Singapore, Indonesia, and the Philippines.
  • The company aims to strengthen its foothold in Southeast Asia through more strategic partnerships by the end of this year.

Regional insurtech, Igloo, was named as one of the winners of the 2021 Inclusive Fintech 50 (IF50) competition, an annual competition hosted by The Center for Financial Inclusion. In its 3rd year, IF50 recognises early-stage Fintechs that are helping low-income customers and micro and small enterprises who are affected by the pandemic and help them rebound, rebuild and recover.

Igloo’s partnerships with foodpanda in Singapore and Thailand reflect this – in the midst of the Covid-19, Igloo and foodpanda saw a need to provide food delivery riders and their families with a peace of mind as they travel the roads to meet heightened demand from Covid-19 dining restrictions.

Last year, Igloo partnered with foodpanda Thailand to introduce an insurance programme that provides free Covid-19 protection for delivery riders in Thailand. In Singapore this year, Igloo introduced PandaCare, a fuss-free and wallet-friendly insurance coverage for delivery riders. PandaCare is specifically designed for gig economy workers and encompasses six benefits: Accidental Death, Accidental Medical Expenses, Accidental Mobile Phone Screen Damage, Daily Hospital Cash, Permanent Total/Partial, Disablement and Temporary Disablement. These benefits also extend to their immediate family members.

In August 2021, Igloo also won ‘Insurtech Initiative of the Year’ at the 6th Insurance Asia Awards. The award recognises Igloo’s partnership with PhilPacific Insurance Brokers & Inc (Philinsure) in digitalising PhilInsure’s insurance products. This initiative aims to push digitalisation efforts to protect Filipinos and their family members against unpredictable risks such as natural catastrophes like typhoons, flooding, and earthquakes and of course, health risks, including Covid-19.

“We are honoured to be part of the Inclusive Fintech 50. Understanding the challenges that the COVID-19 pandemic has exerted on the industries, business models, and people’s lives, we at Igloo have accelerated technology and digital transformation to help bring support and peace of mind to people during these uncertain times. This achievement is also a validation of our mission to make insurance more accessible in Southeast Asia,” said Raunak Mehta, Chief Commercial Officer of Igloo.

This year, Igloo has established over 15 key partnerships in diverse industries to make insurance more accessible across the region. In July, the insurtech company partnered with regional leading food delivery platform foodpanda Singapore to launch the insurance product for gig economy workers. In September, Igloo successfully launched partnerships with leading e-Wallet platforms in the Philippines GCash and DANA in Indonesia to provide online shopping insurance product (PH) and phone screen protection insurance product (ID). The company aims to launch more strategic collaborations with partners in different industries ranging across e-commerce, lifestyle, and health tech by the end of this year.

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

Media Queries
PRecious Communications for Igloo
igloo@preciouscomms.com

Wintermar Offshore (WINS:JK) Reports Turnaround 9M2021 Results

Wintermar Offshore Marine (WINS:JK) has announced turnaround results for 9M2021 with a net profit of US$0.49 million following a loss of US$7.44 mil in 9M2020.

Stronger oil prices and measures to streamline the fleet and reduce gearing helped in turning the Company around after several years of heavy losses. In line with the positive outlook for oil prices, utilization also improved to 66% in 9M2021 compared to 63% in 9M2020.

Owned Vessel Division
Owned Vessel Revenue for 9M2021 was reduced by US$0.2 million to US$24.4 million compared to 9M2020. During July and August, the delta variant of COVID-19 hit Indonesia hard and affected our operations in Asia. A few of our vessels were infected while crew change was delayed due to quarantine and travel restrictions, leading to unplanned downtime. This and the completion of some high end vessel contracts led to a lower margin for 3Q2021. However, since September the pandemic has waned significantly in Indonesia and business operations have recovered back to normal.

Despite the disruption from COVID-19, due to a much lower cost base and a smaller fleet, the Company made a US$4.1 mil gross profit this year for 9M2021 compared to a loss of US$2 million in 9M2020 on nearly the same revenue. Fuel costs rose to 37% as some high tier vessels were idle between contracts.

Chartering and Other Services
Contribution from the Chartering Division in 9M2021 jumped by 64% YoY from US$0.4 million to US$0.66 mil while contribution from other services also jumped 85% YOY to US$0.62 million in 9M2021 from US$0.34 million in 9M2020. These reflect the underlying improvements in offshore vessel demand.

Indirect Expenses and Operating Profit
Indirect expenses totaled US$3.92 million in 9M2021, falling 13% YOY from US$4.5 million, reflecting a much leaner organizational structure with lower overheads as compared to 2020. This has resulted from the fleet efficiency exercise over the past couple of years to sell less efficient vessels and reduce overheads. 9M2021 operating profit amounted to US$0.15 million.

Other Income, Expenses and Net Attributable profit
Since January 2021, the Company has sold 3 vessels and has already entered into a MOA to sell another three, registering in a US$2.4 million gain on sale of vessels. The total fleet now stands at 40 vessels. A total of US$9.5 million in vessel loans was repaid, bringing the Company’s net gearing down to 21.7% by end September 2021. Interest expenses for 9M2021 fell by 33% YOY to U$1.66 million in line with lower debt. Associated Companies generated income of US$0.24 million due to better operational results, bringing the other income to US$0.79 million for 9M2021 compared to a loss in 9M2020.

The stronger operational environment has boosted the bottom line, with net income attributable to shareholders of US$0.49 million for 9M2021, as compared to a US$7.44 million loss.

EBITDA for 9M2021 also rose by 13% YOY to US$10.2 million.

Oil & Gas Industry
As expected, the opening up of travel restrictions across the world has led to a spike in oil prices as supply has not been able to keep pace with growing demand for oil and gas. Global oil demand is expected to recover to pre-virus levels in 2H2022 and the 3rd quarter saw Brent crude oil prices breaking above US$85/barrel, levels not seen since 2014. This reflects the optimism in the oil and gas industry which has finally shown a cyclical recovery. In Indonesia, there are tenders for drilling projects due to start in early 2022.

Offshore Vessels
In line with the oil price spike, there has been an increase in purchases of second hand offshore vessels, and prices have turned around as vessels which had been on offer for a while were bought up. The international rig count has also picked up as more investments have commenced. This is in line with our optimistic outlook for the industry in 2022.

Strategy and Outlook
Over the past few months, the Company has stepped up the sale of older and less productive vessels to take advantage of the improvement in second hand OSV prices. The fleet now stands at 40 vessels, and more are planned to be sold in 4Q2021. This strategy to reduce bank debt as well as keep some cash on hand has created a stronger balance sheet. As banks are still reluctant to lend for vessel acquisition, the Company now has the flexibility to acquire assets as and when the opportunity arises without having to wait for bank loan approval.

Contracts on hand as at end September 2021 totalled US$64 million.

About Wintermar Offshore Marine Group
Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 48 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by experienced Indonesian crew, tracked by satellite systems and monitored in real-time by shore-based Vessel Teams.

Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd’s Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel +62-21 530 5201 Ext 401
Email: investor_relations@wintermar.com

Cross-Chain Scaling Solution BTTC Officially Goes Live, TRON Aims at “Connecting All Chains”

TRON, a leading public chain, is pleased to announce a major initiative with BitTorrent Chain (BTTC) test network, a layer 2 cross-chain scaling solution compatible with TRON, Ethereum and BSC (HECO and OEC to be integrated in the near future). BTTC officially went live on October 30.

BTTC is the first heterogeneous cross-chain interoperability protocol in the industry, with core advantages such as fast transmission speed and low transaction costs while ensuring asset security. BTTC was born to address the need for cross-chain scaling solutions.

Public chain projects are growing rapidly in number. However, many of these projects are not interconnected owing to incompatible technologies, ecosystems, and competition, leading to isolated users, assets, applications, data, altogether curbing the growth of the industry as a whole.

Connecting to mainstream public chains such as TRON, Ethereum and BSC reduces information and asset barriers, and enables a smooth exchange of data and value. BTTC will help to overcome data isolation among public chains.

TRON founder Justin Sun, in an open letter to the community, said that BTTC will provide global mainstream blockchains with a practical scaling solution, and more importantly, will deliver heterogeneous cross-chain communication that is decentralized and free of trust, ushering in a new era of “connecting all chains”.

TRON has also committed a total of US$1 billion to spur the migration of projects from Ethereum onto BitTorrent Chain (BTTC). BTTC is in line with TRON’s vision of connecting all chains.

TRON is among the world’s three largest public chains today, with 58 million accounts, 2.5 billion transactions, upwards of $50 billion on-chain assets, a TVL of more than $11.5 billion across its DeFi products and over $10 billion worth of transactions daily, five times higher than that of PayPal.

With BTTC, TRON hopes to draw users to its increasingly prosperous and diverse ecosystem, unleashing even greater potential.

Media Contact
Jessica ZHANG, TRON
Email: jessica.zhang01@tron.network
Website: https://tron.network/

Elite Capital & Co. Registers “Government Future Financing 2030 Program” as an official UK Finance Trademark

Dr. Faisal Khazaal, Chairman of Elite Capital & Co. Limited, announced today that 15th of October 2021 was a significant day for Elite Capital & Co., as two important events took place on this date.

Firstly, the UK Intellectual Property Office approved and issued a Registration Certificate for the Trademark ‘Government Future Financing 2030 Program’ with Certificate No. UK00003650455.

“Registering ‘Government Future Financing 2030 Program’ as an official trademark is a unique event for Elite Capital & Co. due to the importance of this financing program, that provides unique and wide-ranging financial services and solutions to governments around the world. Under this program Elite Capital & Co. and its governmental portfolios sign agreements with the respective Government to support the country’s National Projects, by providing 80% of the financing needs of those National Projects without burdening the Ministry of Finance with sovereign loans. In return, the Government announces the projects on a bidding basis by inviting all local companies and international consortia, to bid for the remaining project activities including 20% funding, construction, and project operations, thereby ensuring fairness, equality, and transparency according to the rules, regulations, and laws applicable in the respective country” Dr. Faisal Khazaal said.

Secondly, Mr. George Matharu, President and CEO of Elite Capital & Co. Limited, announced that on 15th of October 2021 the company was awarded the ISO 37001:2016 Certificate for Anti-Bribery Management, in addition to the ISO 9001:2015 Certificate for Quality Management (QMS) that Elite Capital & Co. Limited has held over the past five years.

“The ISO 9001:2015 Certificate for Quality Management reflects the level of service that we offer to all of our clients, both at the Government level, and to the commercial and industrial private sector. Adding the ISO 37001:2016 Certificate for Anti-Bribery to our qualifications within the scope of Financial Management, Consultancy, and Funding, makes us the strongest and most secure company that Governments can work with for any financial transaction. Accordingly, Elite Capital & Co. will be subject to a quarterly financial review, as well as a comprehensive annual financial review starting from the 1st of November 2021, being one of the toughest and most transparent auditing financial systems” Mr. George Matharu said.

Elite Capital & Co. Limited is a private limited company that provides project-related services including Management, Consultancy and Funding, particularly for large infrastructure and commercial projects.

Kuwaiti Businessman Dr. Faisal Khazaal and Mr. George Matharu concluded their statement by saying “The company’s growth means we are working with an increasing number of countries, and looking forward to signing new agreements with international EPC Contractors in China and UK for major upcoming projects”.

Contact Details
Government Future Financing 2030 Program
Elite Capital & Co. Limited
33 St. James Square
London, SW1Y4JS
United Kingdom

Telephone: +44 (0) 203 709 5060
SWIFT Code: ELCTGB21
Website: ec.uk.com

SOURCE: Elite Capital & Co. Limited

2021 Global Digital Trade Conference concludes; 15 days trade dialogues, 8,500 companies from 100 countries

Building a bridgehead for “dual circulation” between China and the rest of the world

The 2021 Global Digital Trade Conference and Wuhan (Hankoubei) Commodities Fair concluded after 15 days of global trade dialogues, procurement fairs, and live streaming activities. Diplomatic representatives and business delegations from 103 countries and close to 8,500 foreign and Chinese companies participated in the event, achieving a total purchase order of RMB 402.8 billion (S$ 85.0 billion) and attracting 520,000 trade visitors to the event.

Li Jun, Deputy District Mayor of Huangpi District, Wuhan, announcing the results
2021 Wuhan (Hankoubei) Commodities Fair Closing Ceremony
2021 Global Digital Trade Conference successfully concludes

As China’s first large-scale digital trade themed event, the 2021 Global Digital Trade Conference and Wuhan (Hankoubei) Commodities Fair aims to promote the development of China’s digital economy, showcasing Wuhan’s strengths in the global digital trade and driving China’s “dual circulation” strategy, marking a new milestone for the trading system of the future.

Various forums and thematic events on digital technology empowerment were organised to support Wuhan’s vibrant commercial and logistics center development, including the opening ceremony, China’s wholesale market annual meeting, cross-border cooperation promotion events, and the digital trade and technology thematic conference. The conference focused on current digital trade issues, providing a platform that facilitated discussions and exchanges around the development of the digital economy and trade to build a bridgehead for “dual circulation” between China and the rest of the world.

A new white paper on Global Digital Trade was also launched at the event, shedding insights into the current development of digital trade from the existing digital infrastructure, policies, technologies, and capital. The paper analyses how digital technologies and supply chain services can bring about profound changes to global trade and the development prospects of digital trade. Experts and scholars also highlighted the importance of the digital economy as a key driver for China’s “dual circulation” development strategy, with Wuhan among China’s most promising cities for the digital economy.

Fifteen leading national enterprises and institutions, including Digital China, Alibaba, Ant Group, and JD Group have signed a cooperation proposal to increase investments and support Wuhan’s construction of a national trade and logistics center in Central China. ZALL Smart Commerce Group also signed a digital service agreement with 15 wholesale markets across China, including Shandong Linyi Trade City, Chengdu Hehuachi Market and Shenyang Wuai Market Clothing City to promote digital upgrading of China’s national wholesale markets.

The diverse formats and trade activities of the Wuhan (Hankoubei) Commodities Fair exemplify how “goods sell well when they reach Hankou” during the new era. The event attracted China’s well-known brand manufacturers and popular products, featuring 39 commodity-themed exhibition areas across the country, including Guangdong Pavilion, Hunan Pavilion, Chu Chamber of Commerce, Jiangxi Pavilion, and Hubei’s 17 cities and prefectures. A total of 30 themed commodity trade activities were held during the event to promote Hubei’s local brands and culture, and 113 procurement events were organized to support domestic consumption, including the Hankoubei Hotel Supplies Expo, the first Wuhan-style Children’s Clothing Trade Fair; and China’s National Footwear Brands Exhibition.

The integration of domestic and foreign trade, and building a bridgehead for “dual circulation” between China and the rest of the world is a key objective of this year’s flagship event that aims to promote the development of a high-level open world economy. Accolades were received from hundreds of diplomatic representatives and foreign business delegates regarding Wuhan’s efforts to promote commodities trade and support economic, trade, and technological exchanges. 80% of the international trade platforms that participated were first-timers. They include cross-border e-commerce expo, Hubei’s export-to-domestic trade fair, eight cross-border e-commerce platforms, such as Amazon, eBay, Wish, Newegg, and 50 cross-border service organisations, including PingPong Payments. The European Pavilion, Shanghai Cooperation Pavilion, and ASEAN Pavilion were also launched and featured products from more than 50 countries.

About ZALL Smart Commerce Group
ZALL Smart Commerce Group (HKG:2098) is a leading Chinese B2B e-commerce group (ranked 155th in Fortune China 500, 2021) with a global footprint across the world and its companies listed on four exchanges: HKSE, NYSE, SSE and SZSE. ZALL Group develops and operates Asia’s largest B2B offline-to-online trade ecosystem in China and Southeast Asia, including Singapore, with more than 30 B2B platforms in China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL Group achieved a GMV of more than RMB 600 billion (US$85.2 BN), serving over 1 million SME customers worldwide. ZALL has also obtained a virtual banking licence and currently operates Z-Bank in China since 2017, one of China’s Top 5 digital banks that has supported more than 5.5 million SME and individual customers. See http://en.zallcn.com.

Since 2018, ZALL has invested in five projects in Singapore, including ezbuy.sg, Singapore’s leading global online shopping platform; ZMA Smart Capital, an online trade finance company; ZALL Chain Technology, a blockchain solutions company, and the Commodities Intelligence Centre (CIC), Singapore’s first physical commodity eTrading platform (B2B) powered by blockchain technology, see https://www.cic-tp.com.

Blockchain-based Memorial Platform Enables Users to Preserve Cherished Memories

A soft spot in the digital revolution: Stonses launches platform preserving digital memories of loved ones

Stonses, a Dubai-based startup, has launched a blockchain-powered platform which allows for preserving the memories of our loved ones in a digital format. Stonses’ platform, which enables users to create unique digital identities with real-world objects, is built on a blockchain-powered asset management and NFT platform from UAE-based Verofax.

Wassim Merheby, CEO of Verofax, and Miha Balek, CEO of Stonses, together in Dubai. [Photo: Verofax]

In today’s digital era, our memories of people exist in the physical as well as the digital world. However, these memories may be scattered across devices or locations, some lost and others discarded, while the memories are also lost. Stonses aims to bring a permanence to those memories, through digital replicas of real-world objects linked to NFTs created by family friends and colleagues.

To make this happen, Stonses’ platform leverages NFT technology with QR codes as physical interactions, which the user can attach to any object that reminds them of their loved ones. A digital replica of the object is then built, and a unique identity is assigned to the object. This data is loaded onto an immutable blockchain, which enables the user to preserve the object and its associated memories forever, with control of the data to decide what is made public and what remains private, defining who has the right to create memories and who has only read access. By scanning the QR tag that connects the object to its digital replica, the user can instantly bring it, and the memories associated with that object, back to life. Thus, the QR tag serves as the bridge between a person’s memories and objects associated with them, and sharing with the public, amongst close family or a friends network securely, with Blockchain.

Stonses CEO Miha Balek says “The gift industry will reach $43.3 bn by 2027; objects are increasingly associated with people who own, use or gift them. Digital and physical objects create digital tokens, backed by Blockchain technology. Our memorial platform is the first to help preserve and exchange personal belongings across generations with technology, treasured assets to be transferred with ownership based on smart contracts.”

Wassim Merheby, CEO of Verofax, adds “When an object is replicated or digitally combined with certified content, its replica is called a digital twin or non-fungible Token. The first NFT project launched in 2015 on the Ethereum blockchain, but today assets and belongings can be tokenized digitally by making use of blockchain technology, which helps establish ownership and identity and seamless conditional transfer among user wallets.

While our blockchain-based asset management shoulders the Stonses memorial platform, it is also leveraged for other use-cases across industries. Retailers are using Verofax’ solution to render digital identities to their products along with information around origin, composition, and environmental sustainability. Verofax is a Microsoft co-selling gold partner whose solutions are also published to the Azure AppSource marketplace.

The ability to interface stakeholders securely and enable easy asset transfer and content access opens up new possibilities for organizations like Stonses, which is leveraging the direct-to-consumer interface to consolidate memories and assets of significance value. Stonses business model adds value to our personal lives, value that goes beyond the realm of monetary measures and efficiencies to that of meaningfulness.”

Please visit Stonses at www.stonses.com, or email info@stonses.com for details. Visit Verofax at www.verofax.com for technical matters, or email info@verofax.com.

About Stonses
We are the first and only memorial platform for the global market. The future is fast approaching, and a new era of digital innovation and disruption is here. At GITEX, we presented the most innovative digital identity solution this year, soon extending to the population: The Stonses Revolution officially launches at Burj Khalifa, Dubai on December 21. https://youtu.be/VKPDR2IthUc.

About Verofax
Verofax is a blockchain-enabled Asset Digitization and Traceability solution provider, with presence across North America, Europe, Asia and MEA. The Verofax solution is available across multiple cloud environments, helping businesses transform physical into digitally-enabled products, and engaging meaningful interactions with customized user interfaces. https://youtu.be/YRhh04hkaTY.

Blockchain-based Memorial Platform will Enable Users to Preserve Memories of Loved Ones

Soft spot in the digital revolution: Dubai-based startup Stonses launches platform that enables users to preserve memories of loved ones

Earlier this year, Microsoft patented conversational AI technology that can preserve personas of the deceased through chatbots, in an effort that appeals to the softer side of human beings. Stonses, a Dubai-based startup, has similarly launched a blockchain-powered platform, one that will enable users to preserve memories of their loved ones in a digital format. Stonses’ platform, which enables its users to create unique digital identities of real-world objects, is based on Verofax’s blockchain-powered asset management and NFT platform.

In today’s digital era, memories associated with people exist in the physical as well as the digital world. Pictures may contain real-world objects that hold emotional significance, while many people associate key events’ with objects like physical locations, family videos, wedding gifts, or even household items, which can carry priceless memories of a person we were close to. However, these memories may be scattered on phones and across locations, some are lost and others are discarded, while memories associated with them are also lost. Stonses aims to bring a permanence to those memories, through digital replicas of real-world objects linked to NFTs created by family friends and colleagues.

To make this happen, Stonses’ memorial platform leverages NFT technology with QR codes as Physical interactions, which the user can attach to any object that reminds them of their loved ones. A digital replica of the object is then built, and a unique identity is assigned to the object. This data is loaded onto an immutable blockchain, which enables the user to preserve the object and its associated memories forever. The user, however, retains complete control over the data, and decides which is made public and what remains private, defining who has the right to create memories and who has only read access. By scanning the QR tag that connects the object to its digital replica, the user can instantly bring it, and the memories associated with that object, back to life. Thus, the QR tag serves as the bridge between a person’s memories and objects associated with them, for sharing with the public, amongst close family or a friends network securely, with Blockchain.

Stonses’ memorial platform is built on top of Verofax’s immutable blockchain application, which brings decentralized trust and verifiability to digital objects. The QR code is a unique identifier that represents the digital object. As smartphone penetration levels go higher each year, such nimble technologies carry the potential for mainstream adoption. The shift from hardcopies to digital copies of images, books, and music is a clear signal that points to the appeal of digital objects over physical ones.

Chief executive officer of Stonses, Miha Balek says “The personalized gifts industry is expected to reach $43.3 bn by 2027 while objects are increasingly associated with people who own, use, or gift them. Digital and physical objects make up digital tokens, protected by Blockchain technology. Stonses’ memorial platform is the first to help people preserve and exchange their personal belongings across generations with technology. Expect other functionalities to include treasured assets to be transferred, with ownership based on smart contracts.”

Wassim Merheby, CEO of Verofax, adds “When an object is replicated or digitally combined with certified content, its replica is called a digital twin or non-fungible Token. The first NFT project was launched in 2015 on the Ethereum blockchain, but today assets and belongings can be tokenized digitally by making use of blockchain technology, which helps establish ownership and identity and seamless conditional transfer among user wallets.

Verofax’s blockchain-based asset management platform, which shoulders Stonses’ memorial platform, is also being leveraged for other use-cases across industries. For example, retailers are using Verofax’s solution to render digital identities to their products along with information around their origin, composition, and environmental sustainability.

The ability to interface stakeholders securely and enable easy asset transfer and content access opens up new possibilities for organizations like Stonses, which is leveraging the direct-to-consumer interface to consolidate memories and assets of significance value. Stonses business model adds value to our personal lives, value that goes beyond the realm of monetary measures and efficiencies to that of meaningfulness.”

Please visit Stonses at www.stonses.com, or contact info@stonses.com for more details.

For technical matters visit Verofax at www.verofax.com, or contact through info@verofax.com.

About Stonses
We are the first and only memorial platform for the global market. The future is fast approaching, and a new era of digital innovation and disruption is here. At Gitex, we presented the most innovative digital identity solution this year, which will soon cover the entire population. We proudly announce launching our solution at Burj Khalifa, Dubai on December 21. Prepare to lift off as the Stonses Revolution arrives! https://youtu.be/VKPDR2IthUc.

About Verofax
Verofax is a blockchain-enabled, Asset Digitization and Traceability solution provider with a presence across North America, Europe, Asia and MEA. Verofax’s solution is available across multiple cloud environments, and is helping businesses transform physical products to digitally-enabled goods, and enable meaningful interactions with customized user interfaces. https://youtu.be/YRhh04hkaTY.

CEKD Posts 7.1% Increase in Full-Year Revenue to RM28.23 Million

Company’s performance for the full financial period supported by newer and more complex die-cutting mould orders

CEKD Berhad (CEKD or the Group, Stock Code: 0238), a die-cutting solutions provider has announced that the Company posted an increase of 7.1% full year revenue to RM28.23 million despite posting a decrease of 16.2% in revenue of RM5.77 million for the fourth quarter ended 31 August 2021 (4Q2021), in comparison with the revenue of RM6.88 million in the corresponding quarter of 2020 mainly due to lower orders from customers affected by the stricter nationwide lockdown from June to August 2021.

Managing Director of CEKD, Ms. Yap Kai Ning

CEKD recorded an increase of 7.4% in full year profit before tax (“PBT”) of RM8.54 million despite registering a PBT of RM1.47 million for 4Q2021, which is 28.7% lower than the PBT of RM2.06 million registered in the same quarter of 2020. CEKD recorded an increase of 4.3% in full year profit after tax (“PAT”) while posting a 30.4% decline in PAT for 4Q2021 of RM1.09 million compared with the PAT of RM1.57 million in the corresponding quarter of last year. The Company, which listed on 29 September 2021 on the ACE Market of Bursa Malaysia, also incurred RM0.61 million for the full-year for initial public offering (“IPO”) expenses.

Managing Director of CEKD, Ms. Yap Kai Ning, said, “We managed to achieve better financial performance for the full year despite the stricter lockdown to curb the spread of COVID-19 affecting a number of industries. This is mainly due to newer and more complex die-cutting moulds orders received from our customers. For the quarter under review, we had fewer orders because many of our customers from industries such as electrical and electronic, automotive as well as textile and leather industries failed to obtain MITI’s approval to operate. Furthermore, customers with MITI’s approval were only allowed to operate at 60% capacity.”

“As we have shared in the details of our recent initial public offering, we are investing in new factories, new machinery and a software upgrade to enhance production capability and efficiency while catering for growth. With the COVID-19 restrictions on capacity lifted and the successful rollout of the vaccination programme, we have returned to full operations and will take the opportunity to visit customers to strengthen relationships and to get updates from them on their needs and market trends.”

“We hope to participate in trade shows and exhibitions with the travel ban lifted to raise our profile both in the domestic and overseas markets and conduct product demonstration sessions for both existing and prospective customers for business development and marketing purposes.”