Under the patronage of YB Tan Sri Datuk Seri Panglima Haji Annuar Bin Musa, Malaysian Minister of Communications and Multimedia, and with the participation of Malaysia Digital Economy Corporation (MDEC), a Memorandum of Understanding (MoU) was signed on January 12th, 2022, between Capt. Koh Chen Tien, Chairman of Verofax Asia, and Mr. Haisam Jamal, CEO of Distichain. The event took place at the Address Dubai Marina, where attendees from around the world were present for the opening of Malaysia Digital Week, taking place at Expo 2020 in Dubai, UAE.
The aim of the MoU is to create the first digital ASEAN B2B cross-border trade platform to facilitate a potential of RM 50 Billion Malaysian trade internationally with seamless digital transactions over the next 5 to 10 years. The collaboration between Distichain and Verofax Asia will offer a platform that delivers Digital B2B marketplaces as a service (MAAS) to enterprises by offering full marketplaces or through API integration.
Using blockchain and AI as core technologies, the platform digitizes global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. The solution enables suppliers to readily plug their catalogs, update product data, manage routes and orders, verify documentation and access aggregate financing and logistics all in one place. This unique platform that simplifies, secures, and empowers every participant in a trade.
“The signing of this MoU is an important step for Distichain’s ambition to continue the further development and expansion of its solution. We are especially pleased to be taking this step alongside our partner Verofax Asia, and impact the ASEAN trading industry with rapid digital transformation through our one-day marketplace activation approach,” said Mr Haisam Jamal.
Captain Koh added, “This platform will instantly digitalize the entire export and import process in governmental, non-governmental enterprises as well as SMEs. It will generate low-cost opportunity to digitize processes, introduce trade finance and automate supply-chain across all industries, accelerating economic growth in Malaysia and the ASEAN region. Through this partnership agreement signed today, we will further develop our technologies to meet the ongoing digitalization of international trade. Verofax Asia will have a massive impact on the performances of exports and imports with rapid digitalization, all the while building a resilient digital infrastructure and foster innovation for the recently signed Regional Comprehensive Economic Participation (RCEP) Trade Agreement, which came into effect on 1st January 2022.”
About Verofax: Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Traceability as a Service’, enabling brands to turn their offline products interactive, and manage their entire supply chain to trace goods, fend off counterfeit activities, and improve manufacturers’ productivity. Brands can extend their reach directly to end-consumers, thereby increasing consumer intimacy with direct engagement, and leveraging the boom in NFTs and metaverse experiences. Visit: www.verofax.com, or Email: info@verofax.com.
About Distichain: Distichain delivers B2B marketplaces as a service (MAAS) to customers using blockchain and AI, digitizing global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. SMEs and enterprises alike benefit from automated transactions governed by the system to deliver door-to-door border agnostic trading, with on-platform trade compliance present rules. Using smart contracts, Distichain ensures the highest levels of data privacy, and by connecting to innovative solutions within Fintech and Supply Chain, it facilitates transactions backed by instant trade finance with zero email trading. Distichain’s objectives are to simplify cross-border trading, secure end-to-end transactions, and empower decision-makers with real-time AI analytics. Visit: www.distichain.com, or Email: info@distichain.com.
Wikisoft Corp. (OTCQB:WSFT), a big data and business analytics company, today announced plans to digitize startup funding and accelerate matching startups with investors.
Once a startup’s seed investment round is secured then the fledgling company powers ahead to create a minimal viable product (MVP). Once the MVP is proven, the founders of the startup will soon require further investment to accelerate growth. They participate in a series of investment rounds – series A, B or C, depending on the maturity of the business.
This is a stressful period and an arduous process involving introductions, pitches, negotiations, term sheets, and all the intricacies that go with each stage and every round. The time is ripe to change from manual processes to digital, creating a trusted and authenticated system to bring together high-potential, dynamic, young, fully-operational startups with groups of wily discerning tech investors looking for capital appreciation.
Deloitte recently wrote that 23% of the fund order process is still being handled manually, mainly though fax orders which have a significant impact on distribution costs. PwC surveyed 100 Private Equity houses with a minimum EUR250m assets under management. The PE houses named digitization as the most important megatrend influencing new investment.
Wikisoft, listed on OTCQB, is a fast growing, international, agile, big-data-powered, company which in today’s fast-moving business world of increasing globalization leverages big data and associated insights from global business datasets to improve performance.
In line with this new phase of digitization and globalization, Wikisoft sees a growing demand for access to credible and reliable business data about startups and investors and has an ambition to digitalize the process of matching the right startup with the right investor and accelerate the investment process.
Carsten Kjems Falk, Wikisoft’s CEO, spoke about the company’s vision, “Our advancement will accelerate matching investor to startup, and vice versa, at a lower risk through credible and reliable business data. Series A, B and C investment rounds will be more efficient for all parties via digitization. It will enable startups to concentrate on scaling-up their business, becoming highly valued, and eventually opening the possibilities for even further expansion. Investors will have an efficient way of finding prospects and make the right investments.”
ABOUT WIKISOFT CORPORATION
In today’s fast-moving business world of increasing globalization, Wikisoft leverages big data and associated insights from business datasets to improve performance.
In line with this new phase of globalization, Wikisoft believes that there is a growing demand for access to credible and reliable business data. Data is essential to creating the complete view of customers, prospects, investors, suppliers, and partners necessary to power the right decisions. Our vision is to create opportunity globally by collecting precise data, curating it, verifying it and putting it in the hands of professionals and businesses as consumable business intelligence. We believe in the power of Wikisoft to collect massive amounts of data and deliver it to businesses curated, credible and reliable.
FORWARD-LOOKING STATEMENTS
This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. The Company has based these forward-looking statements primarily on the Company’s current expectations and projections about future events and financial trends that the Company believes may affect Company’s financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company’s current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company’s information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.
CONTACT WikiSoft Corp. 315 Montgomery Street, San Francisco, CA 94104, USA Phone: +1-800-706-0806 Email: investor@wikisoft.com Investor site: www.wikisoft.com
1982 Ventures has invested in PasarMIKRO, an Indonesian-based Agri Commodity Marketplace startup that empowers disadvantaged farmers by simplifying transactions for both farmers and traders.
Since their pilot in December 2020 PasarMIKRO has helped farmers to trade and finance the distribution of over 5,000 tonnes of eggs and other commodities. Image Credits: Dien Wong (Co-founder and CEO of PasarMIKRO) with customers.
PasarMIKRO’S app allows farmers and traders an easy way to manage existing trading relationships and discover new traders on the platform. Image Credits: Detik.com.
PasarMIKRO has raised funds from 1982 Ventures and prominent angels.
PasarMIKRO is an ag-tech startup aiming to disrupt Indonesia’s USD$130B agriculture market by connecting farmers and traders.
PasarMIKRO will use the funds to expand its team and to reach out to more farming communities in Indonesia.
PasarMIKRO was founded by former Altermyth co-founder Dien Wong. Since their pilot in December 2020 the company has helped farmers to trade and finance the distribution of over 5,000 tonnes of eggs and other commodities. Despite the effects of the pandemic, Indonesia’s USD$130 billion agriculture market remains one of the top industries ripe for disruption.
Dien Wong states, “PasarMIKRO is looking after Indonesia’s main providers, farmers and traders who are often overlooked. We are transforming the landscape for a more inclusive digital economy. We foresee that with the digitization of the ecosystem, it will enable a scalable future food value chain.”
The Indonesian-based company provides various services for farmers and traders for their daily transactions such as bookkeeping, lending, and marketplace for farmers and the ecosystem to sell their products easily without limitations.
PasarMIKRO has established partnerships with Bank Rakyat Indonesia (BRI), one of Indonesia’s largest banks, and Rabo Foundation, a social fund backed by European agricultural bank Rabo Bank with a mission to give smallholder farmers the prospect of a sustainable future.
Herston Elton Powers, Managing Partner of 1982 Ventures stated, “Unlike other platforms, PasarMIKRO works with the entire supply chain to enable more efficient agricultural financing and transactions. We have not seen an inclusive financing model in Southeast Asia achieve what appears to be such a product-market fit, and begin scaling as early as PasarMIKRO. PasarMIKRO is incredibly capital efficient and has seen impressive disbursement growth since day one.”
Scott Krivokopich, Managing Partner of 1982 Ventures stated, “Indonesia’s agriculture ecosystem is massive and long overdue for modernization. Dien’s decades of experience in game development and time spent in the field with farmers is the driving force behind PasarMIKRO’s impressive growth.”
The funds will be used to expand PasarMIKRO’s team and reach out to more farming communities in Indonesia.
About PasarMIKRO: PasarMIKRO is a business-to-business aggregated agriculture marketplace with integrated financing facilities. The platform aims to simplify the transaction of farmers and traders in Indonesia’s agriculture market. For more information visit: https://www.pasarmikro.id.
About 1982 Ventures: 1982 Ventures is the leading seed fund investing in fintech startups in Southeast Asia. Our focus makes us the first port of call for fintech founders and the first money in. Our investments include Southeast Asian Open Banking API Platform Brick, Indonesian Personal Finance App Pina, Indonesia’s first Earned Wage Access platform Wagely, Philippine MSME book-keeping app Lista, Vietnam’s leading investment platform Infina, Vietnam’s leading “Buy Now, Pay Later” Fundiin, Vietnam’s Rent-to-Own Home Financing app Homebaseand Singapore’s automated financial data delivery platform Bluesheets.
1982 Ventures is investing in and supporting the best founders to positively impact the future of financial services in Southeast Asia. For more information visit: https://1982.vc.
43% of participants show optimism on outlook for 2022 economy
A highlight event celebrating the 25th anniversary of the Hong Kong Special Administrative Region (HKSAR), the 15th Asian Financial Forum (AFF), organised by the Government of the HKSAR and the Hong Kong Trade Development Council (HKTDC), came to a successful conclusion yesterday (11 January). Running on the theme Navigating the Next Normal towards a Sustainable Future, the online-only AFF 2022 featured real-time polls to gauge the views of participants on a spectrum of topics, including the global economic outlook, environmental, social and governance (ESG), climate risks and green investment trends. This year, over 700 one-on-one matchmaking meetings between investors and project owners have been arranged in the three-day AFF Deal Flow Matchmaking Session. As of 11 January, the AFF virtual platform had seen more than 63,000 views from 80 countries and regions.
Mark Carney, United Nations Special Envoy on Climate Action and Finance, shared his insights on how to build a sustainable financial system as a way of mitigating the liability and transitional threats posed by climate change.
Jean-Claude Trichet, Former President, European Central Bank, offered his views on how the financial industry, regulators and policymakers should step up their concerted efforts in addressing key issues related to monetary stability in times of uncertainty.
This year’s AFF Deal Flow Matchmaking Session was held over three days with over 700 one-on-one matchmaking meetings arranged between project owners and investors.
Delivering his remarks on the second morning of AFF 2022, Paul Chan, Financial Secretary of the HKSAR, noted the tremendous opportunities for Hong Kong’s financial market created by Mainland China’s continued development. “The national 14th Five-Year Plan sets out the long-range objectives of the country through the year 2035, and strategically affirms the role and positioning of Hong Kong in the overall development of our country, presenting opportunities in various areas of importance. Of all the specific roles for Hong Kong that have been reaffirmed or established, the one of particular relevance to us on this occasion is Hong Kong’s continued expansion as an international financial centre, encompassing the strengthening of our status as a global offshore renminbi business hub as well as an international asset management and risk management business centre,” Mr Chan said.
43% of poll respondents optimistic on global economy; 33% say lack of unified ESG standards as top challenge of businesses Online polls have been conducted during the AFF to gauge participants’ views on a range of issues including the global economic outlook and ESG. It found that 43% of respondents were optimistic about the outlook for the global economy in 2022 – a significant increase from 32% in the poll at AFF 2021 – while 33% of respondents had a neutral view and 24% expressed pessimism. The results indicate a generally more positive sentiment towards economic prospects in 2022.
When asked about the most significant barrier preventing their companies from implementing more ESG-friendly policies, 33% pointed to the lack of unified, easily understandable ESG standards and 22% cited the difficulty in balancing ESG practices and business goals. As for the sectors with the most opportunities for green investment in Asia, 45% identified green energy, followed by real estate and construction (16%), transportation infrastructure (14%) and agriculture and food (14%).
Pulse survey says neglecting ESG will lose business opportunities and clients PwC and the HKTDC jointly presented a pulse survey, “ESG Investing: Challenges and Opportunities for Hong Kong”, during AFF 2022. Speaking at the forum, Elton Yeung, Vice Chairman of PwC China, said the survey indicated that more than half of the respondents believed that neglecting ESG factors could affect organisations’ ability to attract business opportunities and retain clients. Nearly 40% said it could affect their organisation’s reputation and the sustainability of their operations in the long run.
The report also pointed out that the involvement of boards and executive directors in ESG matters is effective in encouraging companies to move towards sustainability. The green bond market and unified carbon emissions trading market in the Guangdong-Hong Kong-Macao Greater Bay Area provides significant opportunities for the development of ESG investing in Hong Kong. However, respondents said they see the lack of a homogenous framework or standardised guidelines for measuring ESG factors as a challenge to implementing ESG practices and measures, corresponding with the result of the AFF online poll.
Heavyweight speakers share views on a range of topics Several keynote speeches were featured at AFF 2022, including an address by Mark Carney, United Nations Special Envoy on Climate Action and Finance. Mr Carney shared his insights on how to build a sustainable financial system as a way of mitigating the liability and transitional threats posed by climate change. He said that governments need to step up with “ambitious, credible and predictable” policies that match their pledges. “Very importantly, countries are encouraged to enact ‘deep decarbonisation’ policies such as the phase-out of internal combustion engine vehicles by 2030 and legislate carbon pricing to deliver certainty. This is about giving greater certainty to investors and businesses, so they can pull forward with investment, smooth adjustments and drive jobs and growth upwards while they force emissions downwards. Finance is stepping up, the system is being changed, and there are enormous opportunities now for countries and companies, from affordable green power to zero-emission steel to low-carbon hydrogen and beyond. The financial sector has moved from being a mirror that reflects a world that hasn’t been doing nearly enough to becoming a window through which ambitious climate action can deliver a sustainable future.”
Another distinguished keynote speaker was Jean-Claude Trichet, Former President of the European Central Bank. He noted that the financial industry, regulators and policymakers should step up their concerted efforts when it comes to addressing key issues related to monetary stability in times of uncertainty. “[Macroprudential regulations] are more important than ever. We have to be very careful with regard to these buffers, countercyclical buffers, the systemic risk buffers, et cetera. We have to be very attentive to the loan-to-deposit ratio, to all these kinds of macroprudentials that are of extraordinary importance. It’s clear that the advanced economies have to be particularly cautious today and particularly attentive to their risks. Because if all that turns out to be a hard landing, every country in the world will pay a very high price for that. And, as always, the least developed, the poorest, the developing economies – they will have the most difficulty,” said Mr Trichet.
Looking at the financial world from a different angle, Michael Milken, Chairman, Milken Institute, shared on the positive changes that his philanthropic work has created for communities, “There is no substitute for continued investments in education. One of the things we learnt from COVID is that we need to provide knowledge and education, as it relates to the environment, to nutrition, and to the promise of science. Just developing new technologies and new techniques that are effective, COVID has shown us it’s not enough. We have to make sure that it is communicated so the billions of people on the planet can fully understand and have access to these technologies.”
Tian Guoli, Chairman, Executive Director, China Construction Bank, said: “In 2022, Asia will likely become a force to boost the development of sustainable development in a world full of uncertainties. Hong Kong will certainly play a more crucial role as an international financial centre.”
Ju Weimin, Vice Chairman, President & CIO, China Investment Corporation, a sovereign wealth fund, offered his analysis of the current macro investment trends in Asia and China, noting that sovereign wealth funds are a key source of global investment capital. “They have been the key players in developing the global financial market; they have grown rapidly and are making a bigger impact on the international market and capital flow. Especially since the global financial crisis, the total size of the sovereign wealth funds worldwide has doubled and is approaching the global size of alternative investment,” Mr Ju said.
Addressing the outlook for cryptocurrencies and blockchain, Sam Bankman-Fried, Founder and CEO of cryptocurrency exchange FTX.com, said: “One of the big goals of crypto is to be able to build an ecosystem where there is financial inclusiveness, where anyone can get equitable access to the financial markets. When you look at traditional markets, you just don’t see that ease of access. For some reason in crypto, the exchanges seem to play a very central role, whereas in the rest of the financial ecosystem they played a relevant role but a less central one. That is one big thing that really changes people’s minds on ecosystems as they walk through it.”
Bestselling author and Founder and Executive Chairman of Moven Brett King, also widely known as the “Godfather of Fintech”, offered his perspectives on how the emergence of innovative fintech solutions presents both an opportunity and a challenge to the banking and financial industries. “The first use of central bank digital currencies (CBDCs) en masse will probably be the Beijing Winter Olympics this year, where we see the CBDCs incorporated into the mobile wallet for the games. This is the first major evolution of money that we have seen since we moved from coins to paper banknotes. In a historical perspective, what we see right now with the creation of CBDCs and cryptocurrencies is an incredible point of change for humanity with respect to the design and intelligence of money,” Mr King said.
Over 700 meetings in AFF Deal Flow in three days In response to high investment demand, this year’s AFF Deal Flow Matchmaking Session, co-organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association, is extended by a day and held over three days from 10 to 12 January. The AFF Deal Flow has facilitated collaboration between project owners, potential business partners and investors by arranging over 700 one-on-one meetings and connecting capital with investment projects from around the world. Over 720 projects in the AFF Deal Flow Matchmaking Session covered a wide spectrum of sectors, including fintech, healthtech, deep tech, consumer goods, infrastructure and real estate, environment, energy and environmental technology. More than 230 of the projects were ESG-integrated to meet the related needs of investors.
AFF online platform runs to mid-March, showcasing technologies from 130+ exhibitors Video playback of all the sessions and virtual exhibitions from AFF 2022 will be available through the event’s online platform until 11 March 2022. Participants can enjoy round-the-clock access to 60 keynote speeches and panel discussions as well the exhibitions of more than 130 local and international financial institutions, tech companies, start-ups and investment agencies, showcasing a plethora of advanced financial technologies and unmissable investment opportunities.
Overview of participants’ responses in AFF 2022 polls 1. What is your outlook for the global economy in 2022? Optimistic 43% Neutral 33% Pessimistic 24%
2. In which sector do you see the most opportunities for green investment in Asia? Green energy 45% Transportation infrastructure 14% Water and waste treatment 9% Reforestation 2% Real estate and construction 16% Agriculture and food 14%
3. What is the most significant barrier preventing your company/institution from implementing more ESG-friendly policies? The difficulty in balancing ESG practices and business goals 22% Lack of ESG understanding among key personnel 16% Lack of unified, easily understandable ESG standards 33% Poor data quality and consistency in terms of ESG performance evaluation 14% Lack of commitment to ESG practices among senior management 6% Insufficient government support 9%
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
More than 170 global business leaders and policymakers explore a sustainable future for world’s economy
Organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), the 15th Asian Financial Forum (AFF) opened today as an online-only event. AFF 2022 is a highlight event celebrating the 25th anniversary of the HKSAR. The two-day forum features 60 sessions including keynote speeches and in-depth discussions along with an array of activities such as exhibitions and the AFF Deal Flow Matchmaking Session. All activities at AFF 2022 will be streamed live on the event’s virtual platform.
Carrie Lam, Chief Executive of the HKSAR, delivered remarks at the opening ceremony of the 15th Asian Financial Forum
Mark Carney (R), United Nations Special Envoy on Climate Action and Finance, shared his insights on how to build a sustainable financial system. Mr Carney was introduced by Ronnie Chan, Chair, Hang Lung Properties Limited (L)
Jean-Claude Trichet, Former President of the European Central Bank
Under the theme “Navigating the Next Normal towards a Sustainable Future”, more than 170 global business leaders, policymakers, financial and wealth management experts, entrepreneurs, tech giants and economists from 16 countries and regions speak at the AFF, and examine the key issues reshaping the economic landscape, including how industries can realise sustainable and inclusive development through impactful venture capital and business strategies.
Carrie Lam, Chief Executive of the HKSAR, officiated at the forum’s opening ceremony. In her opening remarks she noted that: “With ‘One Country, Two Systems’ back on the right track, international investors and observers have shown confidence in Hong Kong. The latest Global Financial Centres Index, in September last year, ranked Hong Kong third globally among the more than 100 financial centres assessed, behind only New York and London. Looking ahead, beyond the pandemic and the continuing cloud it raises over global economic growth, particularly associated with the Omicron variant, we see boundless possibilities.”
In his welcome remarks, Dr Peter K N Lam, Chairman of the HKTDC, said: “This year is especially meaningful because the AFF is also the first of many events to celebrate the 25th anniversary of the Hong Kong Special Administrative Region. While we are still tackling the pandemic, we are also looking beyond the pandemic to recovery, which is the main direction of the AFF theme this year. We have brought together policymakers and business leaders from around the world to discuss important global issues from an Asian perspective. This year, our event will again be held virtually, and I hope we can reach more people from around the world to share ideas and inspire each other.”
Three heavyweight financial ministers from Mainland China delivered special remarks during the opening session. They included Dr Shang Fulin, Director of the CPPCC Economic Affairs Committee, Former Chairman of the China Banking and Insurance Regulatory Commission, and Former Chairman of the China Securities Regulatory Commission; Dr Fang Xinghai, Vice Chairman, China Securities Regulatory Commission; and Xiao Yuanqi, Vice Chairman, China Banking and Insurance Regulatory Commission.
Dr Shang noted: “Global openness requires cooperation, and a rules-based multilateral trading system is the cornerstone of economic globalisation and free trade. The international community must double-down on consensus-building and actions. We must also stand firm on maintaining openness, inclusiveness, dialogue and collaboration to jointly address global issues and challenges. This will enable us to promote stronger and greener global development and champion a community with a shared future.”
Mark Carney and Jean-Claude Trichet deliver keynote speeches on first day Mark Carney, United Nations Special Envoy on Climate Action and Finance, delivered a keynote address on the first day of AFF 2022. He shared his insights on how to build a sustainable financial system as a way of mitigating the liability and transitional threats posed by climate change. “From a general perspective, the risks of future pandemics have gone up because of climate change. And what is disappointing is that we have known of these risks of pandemics for a long period of time. The upfront investment against them in terms of healthcare capacity, testing, et cetera, is extremely modest relative to the cost, and we still haven’t made those investments on the scale that we need. We have to take this seriously. It is compounded by climate change,” Mr Carney said.
Another distinguished speaker was Jean-Claude Trichet, Former President of the European Central Bank. He noted that the financial industry, regulators and policymakers should step up their concerted efforts in times of uncertainty.
Global financial policymakers and experts discuss green finance and sustainable growth A plenary session chaired by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, was held following the opening session. Mr Hui joined together with an international panel of financial ministers, bank governors and policymakers to examine the characteristics of the post-COVID global economic new normal and discuss how the public and private sectors can collaborate to orient the global economy towards a green future with sustainable growth. The panellists included Vincent Van Peteghem, Deputy Prime Minister and Minister of Finance, Belgium; Mihaly Varga, Deputy Prime Minister and Minister of Finance, Hungary; Arkhom Termpittayapaisith, Minister of Finance, Thailand; Wimboh Santoso, Chairman of the Board of Commissioners, Financial Services Authority, Indonesia; Verena Ross, Chair, European Securities and Markets Authority; Jin Liqun, President and Chair, Asian Infrastructure Investment Bank; Muhammad Sulaiman Al Jasser, President, Islamic Development Bank; and Marcos Troyjo, President, New Development Bank.
At a policy dialogue in the afternoon, Eddie Yue, Chief Executive, Hong Kong Monetary Authority, chaired a panel featuring Ashley Alder, Chief Executive Officer, Securities and Futures Commission; Benjamin E. Diokno, Central Bank Governor, Philippines; Klaas Knot, Chair, Financial Stability Board and President, De Nederlandsche Bank; Teresa Ko, Co-vice chair, IFRS Foundation; and Dr Ma Jun, Co-Chair of G20 Sustainable Finance Working Group, Co-Chair of IPSF Taxonomy Working Group; Chairman and President of Hong Kong Green Finance Association. The panel exchanged views on how the financial system can better support a sustainable global recovery while keeping climate-related financial risks at bay.
Echoing the theme of AFF 2022, a panel discussion on “ESG & Sustainability” was also staged. Stewart James, Chief of Staff, Sustainability Policy & Regulation, HSBC, spoke with panellists including Andrew Erickson, Chief Productivity Officer, Head of International Business, State Street; Shinta Widjaja Kamdani, CEO, Sintesa Group; Amy Lo, Co-Head Wealth Management Asia Pacific, UBS Global Wealth Management; and Saker Nusseibeh, CEO, Federated Hermes International. The speakers shared their perspectives on how governments around the world, industry giants, financial institutions and philanthropists can work together towards the wider implementation of environmental, social and governance (ESG) to build a sustainable future.
Financial and business leaders examine global economic outlook Other esteemed financial ministers and business leaders who spoke at AFF 2022 included Ju Weimin, Vice Chairman, President & CIO, China Investment Corporation, a sovereign wealth fund; Paul M Achleitner, Chairman of the Supervisory Board, Deutsche Bank AG; Tony O Elumelu, Group Chairman, United Bank for Africa (UBA) and Founder, Tony Elumelu Foundation; Bill Winters, Group Chief Executive, Standard Chartered plc; Tian Guoli, Chairman, Executive Director, China Construction Bank Corporation; Liu Jin, President, Bank of China Limited; Shriti Vadera, Group Chair, Prudential plc; and Douglas Flint, Chairman, abrdn plc.
AFF Deal Flow Matchmaking Session and fintech exhibition held online From 10 to 12 January, the AFF Deal Flow Matchmaking Session is arranging a series of one -on-one matchmaking meetings on the virtual AFF platform to facilitate collaboration between project owners, potential business partners and investors. More than 600 investment projects, including over 200 ESG-related projects, are being showcased, covering sectors such as deep tech, digital technology and media, healthtech, education, infrastructure and real estate services.
Online exhibitions are also being held during AFF 2022. At the Fintech Showcase, InnoVenture Salon, FintechHK Startup Salon and Global Investment Zone, more than 130 local and international financial institutions, tech companies, start-ups and investment agencies are showcasing an array of advanced technologies and unmissable investment opportunities in various countries and regions. Meanwhile, the HKTDC, Mizuho Bank and Eureka Nova, a start-up incubation and open innovation platform established by New World Development, come together for the first time for AFF Accelerate. It provides a platform for entrepreneurs and innovators to bring their next-generation technology solutions from concept to fruition and adoption in the business sector.
Cryptonaire and eminent philanthropist speak on second day Tomorrow morning will see another keynote speaker Brett King, Founder and Executive Chairman of Moven, sharing perspectives on how the emergence of new fintech developments presents both opportunities and challenges for the banking and financial industries. Sam Bankman-Fried, Founder and CEO of cryptocurrency exchange FTX.com and the richest person in crypto, who is also a Forbes 30 Under 30 honouree, will talk about his entrepreneurial journey and the outlook for blockchain and cryptocurrency. In addition, philanthropist Michael Milken, widely known as one of the most influential thinkers in US finance, will share some of the positive changes that his philanthropic work has created for communities, while Miao Jianmin, Chairman, China Merchants Group, will share his views on Mainland China’s carbon neutrality goals and green finance development.
Other highlight sessions tomorrow include “Decentralised Future – Accelerating Blockchain Innovation for Digital Assets & Transaction” and “Innovation Investment in NFT – Trends and Opportunities”, which will feature speakers such as Jason Bailey, Co-Founder & CEO, ClubNFT, and Francis Belin, President, Asia Pacific at Christie’s.
At the Family Office Symposium, co-organised by the HKTDC and the Private Wealth Management Association, Ronnie Chan, Chair, Hang Lung Properties; Adrian Cheng, Chief Executive Officer, New World Development; and Seri Cheah Cheng Hye, Co-Chairman and Co-Chief Investment Officer, Value Partners Group, will explore wealth management trends relating to family offices and discuss their development among Asian families.
Furthermore, a series of thematic workshops, “Dialogues for Tomorrow” and fireside chats will examine the future of such sectors as energy, food and agriculture, digital wealth management, cloud computing, paytech and healthcare. The speakers will also explore opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, venture capital trends and the net zero economy.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Verofax Limited, an Asset Digitization and Traceability solutions provider, today announced closing a $1.5M pre-Series A round by international investors led by Benson Oak Ventures, with 500 Startups, Wami Capital and Vernalis Capital completing the group.
Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Traceability as a Service’, enabling brands to turn their offline products interactive, and manage their entire supply chain to trace goods, fend off counterfeit activities, and improve manufacturers’ productivity. Brands can extend their reach directly to end-consumers, thereby increasing consumer intimacy with direct engagement, and leveraging the boom in NFTs and metaverse experiences.
The funds will be used to expand the Company’s sales and marketing activities on a global level, ahead of a planned Series A round later in 2022. Verofax solutions are applicable to a wide range of industries (Retail and CPG) and are already used by leading brands such as Anheuser Busch Inc. Verofax is a Microsoft Gold partner, and has secured a global network of distributors and resellers, and co-selling on enterprise solution platforms including Microsoft Appsource, Amazon AWS and Ant Group Antchain.
Wassim Merheby, CEO of Verofax, said: “Our solution helps brands turn their products into a direct-to-consumer communication channel and deliver amazing experiences to drive growth and boost loyalty while also promoting greener product choices and ESG auditability. Verofax also helps turn give-aways into collectible and tradeable NFTs, interoperable across several metaverse environments. We are thrilled to be joined by investors that will help accelerate our growth trajectory through their collective expertise, network, and leadership.”
Robert Cohen, Managing Director of lead investor Benson Oak Ventures, said: “We have a very specific investment thesis that brands will leverage Web 3 & NFTs to reinvent their engagement & business models with consumers, creating entirely new service categories. Verofax has demonstrated early product market fit, leveraging its proprietary technology to sell its Traceability solution to many different types of brands and help them navigate this new world. We have been incredibly impressed by Wassim and the whole Verofax team, and thrilled to be making this our first investment in the UAE.”
Chetan Mehta, CEO of Wami Capital, said, “Verofax Blockchain-based traceability and validation solution empowers brands in the consumer goods and retail industry to promote sustainable products and allows consumers to choose greener brands and enjoy immersive experiences. Verofax traceability prevents counterfeiting in the supply chain across pharmaceutical, manufacturing, consumer, retail and logistics. We look forward to working with Verofax team to accelerate the adoption of their solution across our ecosystem.”
About Verofax Verofax is a blockchain-enabled Asset Digitization and Traceability solution provider with a presence across North America, Europe, Asia and MEA regions. Verofax’s solution is available across multiple cloud environments, helping businesses transform its physical products to interactive, and enable meaningful engagements with immersive user interfaces. For technical matters, visit Verofax at https://www.verofax.com or contact info@verofax.com.
About Benson Oak Ventures Benson Oak, with a new office in Abu Dhabi, is a venture capital firm with 20 years experience in Europe, the US and the Middle East, with an increased focus on Web3 and ‘passionware’ – where everyone is a business. Investments have included Internet security leader AVG, video marketing platform Promo.com, crypto wallet ZenGo and HCM platform Harri. http://bensonoakventures.com.
About Wami Capital Wami Capital, a single-family fund, focuses on supply chain activities of the Transworld Group. https://wamicapital.com.
About 500 Startup Sanabil MENA Fund 500 Startups (500), one of the most active global early stage venture capital firms, has partnered with Sanabil Investments, a financial investment company focused on global private investments in venture capital, growth and small buyout. This follows the recent announcement of the establishment of 500 Startups’ new MENA regional headquarters in Riyadh. https://ecosystems.500.co/sanabil500accelerator.
About Vernalis Capital Vernalis Capital is the family-owned investment company of Bala Chandra, founder of Vernalis. Vernalis Capital believes in providing entrepreneurs strategic leverage and seeks to build an ecosystem of synergistic companies which helps entrepreneurs pursue their own vision and goals while being supported wherever required. With a strong global network of partners and alliances, Vernalis Capital opens access to global managerial talent and mutually beneficial networking opportunities. https://www.vernaliscapital.com.
Global renewable energy developer, service provider and distributor, BayWa r.e., was named 2021 Solar Company of the Year in the ‘Distributor’ category at the Philippines Solar Week Leadership Awards 2021. Winners of the awards were assessed by a panel of judges via a transparent, research-backed approach, with BayWa r.e. attaining the award by registering consistent, robust, performance of their solar distribution business in the Philippines despite considerable market challenges.
Leonides Lechoncito, Sales Manager for BayWa r.e. Philippines, said “This recognition from the industry was made possible due to the support and trust that our customer base has placed in BayWa r.e., and serves as a testament to the capabilities of our team. A customer-centric approach to business, coupled with the hard work and dedication of our local team, are elements that have led our successes thus far, and will continue to spur BayWa r.e. Philippines on to greater heights. These awards reaffirm our commitment to driving a greener and sustainable energy transition for the Philippines, and we will work towards continuing this success in the coming years.“
Despite the challenges presented by the global pandemic and an emerging energy landscape, the BayWa r.e. Philippines team has successfully attained significant growth milestones, applying relevant expertise from its global experience that has made it a leading provider of solar photovoltaic systems worldwide. Since its establishment in 2019, BayWa r.e. Philippines has served a wide range of customers, fulfilling more than 300 deliveries to various projects. Most recently, the team secured projects to supply products for a major fast-food chain and completed a project for Maynilad Water Services, a wastewater services provider in Metro Manila. The team has registered more than 400% revenue growth from 2019 to 2020 and is expected to close significant growth at the end of 2021.
With BayWa r.e. approaching its second anniversary in the Philippines, growth prospects for BayWa r.e. Philippines remain strong in 2022, with the team is looking at a new business pipeline comprising more than 100MW across Residential and C&I markets. The team will be focusing on expanding its sales operations, warehouse and its suite of products and services to better meet the evolving needs of local customers, accelerating the country’s renewable energy transition. Alongside plans to double the headcount for its local office, BayWa r.e. has also embarked on plans to open new warehouses in Cebu to cover Visayas and Mindanao region in 2022.
About Philippines Solar Week
The Philippines Solar Week Conference and Awards is an annual event, held virtually this year, with over 500 attendees, 30 speakers, and 25 award categories, spanning across more than 4 sessions and 1000 steam views. The highly coveted Philippines Solar Week Leadership Awards 2021 is a platform that recognizes and honors the best performers and achievers in the solar industry, focusing on leaders, projects and products from companies that have made a positive impact on the solar industry in the Philippines, and encourages the use of solar energy locally and globally. The awards celebrate innovations in the industry, and the hard work and determination behind them.
BayWa r.e. AG (BayWa r.e.):
At BayWa r.e. we r.e.think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.
We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4GW of energy online and manage over 10GW of assets. We are also an Independent Power Producer with an expanding energy trading business.
BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.
Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.
Our shareholders are BayWa AG, a €17.2 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment.
Contact information:
PRecious Communications for BayWa r.e. AG Tan Yanchang / Foo En Jing Tel: +65 6303 0567 E-mail: baywa-re@preciouscomms.com
1982 Ventures, a leading early-stage venture capital firm in Southeast Asia, has announced the initial close of its first seed stage venture fund with US$12.5 million in committed capital. The fund is targeting to raise a total corpus of US$15 million.
Scott Krivokopich and Herston Elton Powers, Managing Partners of 1982 Ventures, Southeast Asia’s leading seed fund which is focused on fintech. (1982 Ventures)
Established in early 2020, 1982 Ventures is a Southeast Asia focused venture capital fund that invests in seed stage fintech startups in Southeast Asia. The fund was recently identified as the most active Southeast Asia based fintech investor of 2021 (UOB).
The firm’s portfolio has made a return of over 3x, with early and first round investments in Indonesian open banking player Brick, Vietnamese retail investment platform Infina (YC S21), home financing proptech Homebase (YC W21), Singaporean automated financial data platform Bluesheets and Southeast Asia’s first earned wage access platform Wagely.
Their first fund has been backed by US fintech unicorn Carta, Asia’s leading multinational Genting Group’s Venture arm, US fund of funds First Close Partners and Rally Cap and major Indonesian family office Trihill. The backers of 1982 Ventures include Southeast Asian, European and American family offices, fintech founders, senior executives of tech and financial services companies and GPs of other VC funds including Sheel Mohnot (founding GP of 500 Fintech and Better Tomorrow Ventures) and unnamed GPs at major Southeast Asian VC funds.
Herston Elton Powers, Co-founder and Managing Partner of 1982 Ventures stated, “Seed stage fintech in Southeast Asia is a clear once in a generation opportunity. Our focus and credibility with founders make us first money invested and the partner of choice for fintech entrepreneurs in the region.” He continued, “Our investors have access to the highest quality deal flow and as a result of their commitment to 1982 Ventures, have directly participated in the region’s most competitive fintech rounds.”
JunYuan Tan, Co-Founder and CEO, of Homebase (a 1982 Ventures portfolio company) stated “1982 Ventures was one of our earliest institutional investors. They have been super helpful even up till today. In fact, 1982 Ventures has by far made the most number of quality introductions to us, especially for lenders, and it’s not even close. 1982 Ventures’ investment is one of the best money we’ve ever taken.”
Southeast Asia represents a once in a generation opportunity with half a billion consumers waiting for financial services. The region is experiencing rapid urbanization and has some of the world’s highest technology adoption and mobile and internet penetration rates. Southeast Asian fintech startups represent more than US$10 billion in unrealized value, with 100 projected fintech exits in the coming years (Dealroom).
Ian Sulaiman, Vice President, of Trihill, stated “1982 Ventures is filling a critical gap in the VC market with their focus on seed stage fintech companies. The GPs understand how to invest in Indonesia and across the region. Scott and Herston have impressed us with their company selection and we have confidence in the judgement.”
Going forward, the firm is looking to invest in a total of 30 start-ups primarily in the fintech sector across Southeast Asia. The firm has a core focus on Indonesia, Vietnam, Singapore and Philippines with the ability invest across the region and opportunistically in Pakistan and Bangladesh.
Scott Krivokopich, Co-Founder and Managing Partner of 1982 Ventures stated, “We are on track to realize our goal of becoming the best performing fund in the region and we are encouraged by the support from the global investment community in backing 1982 Ventures.” He continued, “We have seen the incredible rise of fintech in China, India, Latin America, Africa and the West — now is the time for Southeast Asian fintech to lead the way.”
Both Herston and Scott are former executives of tryb Group, a Southeast Asian fintech investor, and have each been in Asia for well over a decade. Scott Krivokopich was previously the Head of Investments at tryb Group and prior to that established Moore Stephens Corporate Finance business in China, advised on M&A for Southeast Asian fintech transactions, worked with Micro-Finance pioneer Grameen Bank. Scott started his career in New York working for PwC Structured Credit and Derivatives Advisory.
Herston Elton Powers, an INSEAD graduate in Singapore, previously led investments, operations and investor relations at tryb Group. He is credited as the first institutional investor in Indonesia’s leading fintech and Neo bank Alami. Prior to becoming a VC investor, Herston was a banker at the Bank of New York Mellon (BNY Mellon) in New York, Hong Kong and Singapore where he was Head of Southeast Asia and worked on numerous Chinese, Indian and Southeast Asian listings on NYSE and Nasdaq. He also supported the founding of a global fintech company based in Europe.
“1982 Ventures has proven its ability to source and invest in the best fintech start-ups in the region.” stated Scott Krivokopich. He continued, “Our mission is clear to back the next generation of unicorns which will come from the fintech sector in Southeast Asia.”
1982 Ventures expects to announce the final close of its first seed fund soon and is only open for investment from strategic investors to participate in a “greenshoe option” as the fund is already oversubscribed ahead of its final close.
About 1982 Ventures 1982 Ventures is the leading seed fund investing in fintech start-ups in Southeast Asia. 1982 Ventures focuses on being the first port of call for fintech founders and the first money in. 1982 Ventures investments include Bluesheets, Brick, Fundiin, Go Zayann, Homebase, Hugo, Infina, Lista, Nextpay, Pina and Wagely. 1982 Ventures is investing in and supporting the best founders to positively impact the future of financial services in Southeast Asia. For more information visit: https://1982.vc.
Quotes From Investors And Portfolio Companies Of 1982 Ventures (In Alphabetical Order):
Carta: Davis Thacker, Director and Head of Carta Ventures, of Carta stated “Southeast Asia is a new and critical market for Carta. 1982 Ventures is a strategic investment for Carta and the perfect partner as we look to expand our fintech partnerships in the region.
First Close Partners: Carolina Huaranca Mendoza, General Partner of First Close Partners, stated “Our firm is always on the lookout for best in class fund managers from underrepresented backgrounds across the globe. Herston and Scott have built an impressive firm with a strong vertical focus in fintech in Southeast Asia which really stood out to us. We are proud to be investors and tremendously excited to follow their progress as they continue to build their venture franchise. Our hope is that more underrepresented fund managers follow 1982’s lead and are inspired to invest in emerging markets.”
Gavin Tan of Brick: Gavin Tan, Co-Founder and CEO, of Brick stated “1982 Ventures led our first VC round and Brick has been incredibly fortunate to have an investor that lives and breathes fintech and is always ready to support us with investor, customer and talent introductions.”
Genting Ventures (Genting Group Corporate Venture Arm): Josie Lai, Head of Genting Ventures, stated “1982 Ventures is a pure-play fintech investor that brings key insights and co-investment opportunities that are aligned with our group’s strategy.”
James Vuong of Infina (YC S21): James Vuong, Founder and CEO, of Infina stated “On our first call it was clear that Herston and Scott understood our business model and what we are building at Infina. For a solo founder it is invaluable to have a team you can call for anything, has real experience and expertise, and likes to move fast and get things done.” He continued, “Even after our successive fund raising rounds they continued to support Infina by identifying and helping us recruit our Chief of Staff!”
JunYuan Tan of Homebase (YC W21): JunYuan Tan, Co-Founder and CEO, of Homebase stated “1982 Ventures was one of our earliest institutional investors. They have been super helpful even up till today. In fact, 1982 Ventures has by far made the most number of quality introductions to us, especially for lenders, and it’s not even close. 1982 Ventures’ investment is one of the best money we’ve ever taken.”
Sheel Mohnot of Better Tomorrow Ventures: Sheel Mohnot, Co-Founder and General Partner, of Better Tomorrow Ventures, stated “We are a global fintech fund and have seen how fintech transforms all markets. 1982 Ventures was the clear choice for a fund to provide us an on-the-ground partner that understands fintech in Southeast Asia.”
Trihill Capital: Ian Sulaiman, Vice President, of Trihill, stated “1982 Ventures is filling a critical gap in the VC market with their focus on seed stage fintech companies. The GPs understand how to invest in Indonesia and across the region. Scott and Herston have impressed us with their company selection and we have confidence in their judgement.”
DX Award 2021 culminated with the Business Excellence Awards: Final Award Night, where Netcetera emerged as the overall winner.
E. Fabrice Filliez, Ambassador of Switzerland, and Georg von Wattenwyl, Chairman & Co Host at SwissCham, among the guests of honour at DX Award 2021
DX Award 2021 received 45 submissions across eight subcategories, with 22 projects showcased at the virtual pitching nights.
Leading digital payment solutions provider Netcetera has bested 44 other companies at the culmination of the Digital Transformation (DX) Award 2021 organised by the Swiss Chamber of Commerce and Industry (SwissCham) in Singapore, in collaboration with Deloitte, and supported by PRecious Communications and other partners. Netcetera has demonstrated business agility in payment services through its 3-D Secure (3DS) solution suite, which offers end-to-end integrated authentication.
“The DX Award 2021 has evolved to become a great avenue for celebrating innovation and entrepreneurship in the ASEAN region since it was introduced last year. This year, we received 45 submissions from across the region, all of which were outstanding in their own right,” said Andreas Enderlin, Chairman of the Digital Transformation Award and Managing Partner of Hugo Capital Partners. “We would like to extend our congratulations to Netcetera and all the finalists for the different subcategories, and we hope to continue inspiring and empowering more companies in the digital new normal through this initiative.”
The DX Award 2021 featured eight subcategories this year: Cybersecurity; Financial Services; Advanced Manufacturing; Healthcare; Insurance; Building & infrastructure; B2C; and Business Services. Among the pool of 45 submissions, 22 projects were selected and showcased at the recent virtual subcategory pitching nights. Shortlisted participants presented their projects in front of a highly distinguished jury, peers, and selected guests during the online live pitching sessions held across three nights. The projects were evaluated based on clearly defined benchmarks (from Deloitte’s Digital Maturity Model) — Customer; Strategy; Technology; Operations; and Organisation & Culture — as well as the public’s votes.
SaladStop! x ADA (B2C), EyRis (Healthcare), IDV CONCEPTS ASIA (Advanced Manufacturing), Speedwork Autocare Indonesia (Business Services), Netcetera (Cybersecurity), Siemens (Building & infrastructure), Allianz (Insurance), and BIZZI (Financial Services) emerged as the finalists for the respective subcategories at the Business Excellence Awards: Final Award Night. They were pitted against each other during the final ceremony, where Netcetera emerged as the overall winner of the Digital Transformation Award.
“In response to business challenges brought about by the pandemic, Netcetera was inspired to develop an end-to-end product based on EMV® 3DS[1] and the SAFe business agility framework to drive enhanced business agility, while allowing customers to adopt new product specs and compliance requirements faster than ever before,” said Dr. Thomas Fromherz, Fellow, Netcetera.
Hanspeter Jsler, Key Account Manager at Netcetera’s Singapore office added: “We are greatly humbled to have won DX Award 2021, and this is just a testament of Netcetera’s continuous commitment towards the pursuit of business innovation.”
DX Award 2021 is sponsored by industry leaders Acronis, DSV, Entsia, Inventa Technologies, SIX group, and Zuhlke, and supported by Singapore government agencies, American and European Chambers.
Last year, SwissCham received 43 DX Award applications from startups, SMEs and MNCs from various sectors.
[1] EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.
About SwissCham Singapore Founded on 3 October 1988, SwissCham Singapore is one of the pillars of the Swiss community in Singapore. It brings together the representatives of Swiss companies, encouraging networking, exchange of information and championing the establishment of Swiss values and quality through business.
Today, the Chamber continues serving its members with its objectives: fostering the Swiss business community, providing a platform for exchange and business opportunities, and staying relevant for partners and members. This year, the Chamber has strengthened and expanded its network, with 219 members.
About Deloitte Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax, and related services. With more than 175 years of history, our organisation has grown tremendously in both scale and capabilities. Deloitte currently has approximately 330,000 people in more than 150 countries and territories, and serves four out of five Fortune Global 500® companies. Yet, our shared culture and mission — to make an impact that matters — remains unchanged. This is evident not only in Deloitte’s work for clients, but also in our WorldClass ambition, our WorldClimate initiative and our ALL IN diversity and inclusion strategy.
ACROMEC Limited (“ACROMEC”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biomedical, pharmaceutical, research and academia sectors, today announced that its wholly-owned subsidiary, ACROMEC Engineers Pte Ltd has secured two engineering, procurement and construction (EPC) contracts totalling approximately S$14 million.
The first project is for Neste Asia Pacific Pte Ltd (“Neste”). In its continued effort to expand and improve their Sustainable Fuel and Oil products, Neste has entrusted ACROMEC to design & build a R&D Laboratory and Regional Office. In line with Neste’s strong position as the 4th most sustainable company globally, ACROMEC offers its expertise in sustainable laboratory solutions with strong emphasis in energy conservation, particularly in HVAC system. This is carried out while addressing the safety requirements of the laboratory facility which has a compressed gas distribution system and which deals with flammable substances.
ACROMEC would undertake full turnkey scope, including numerous number of fume hoods, laboratory furniture solutions, builder’s works, HVAC and control system, an efficient laboratory exhaust system, process system dealing with flammables, new sprinkler tank and distribution, and an intensive electrical system network. The project is to start immediately and is to be completed by the second half of the financial year ending 30 September 2022 (FY2022).
The second project is for Performance Specialty Products (Singapore) Pte Ltd, which is part of the DuPont Group, to construct a chemical laboratory at Solaris @ Kallang. This 600-square-metre lab will be designed for research with toxic chemicals, and the project involves fitting out of low-flow fume hoods, modular laboratory furniture solutions, and gas system with critical exhaust that is able to handle hazardous gas. The project is expected to start immediately and be completed by the first half of FY2022.
Said Mr Lim Say Chin, Executive Chairman and Managing Director of ACROMEC, “We are pleased to have secured these contracts during these challenging times, which is a testament to our customers’ continued recognition and confidence in our capabilities to deliver quality work. We are working hard and we will leverage on our extensive track record and proven expertise to actively pursue more contracts.”
The contracts are expected to contribute positively to the earnings per share and net tangible assets per share of the Group for FY2022.
To the best of the Directors’ knowledge, none of the Directors and controlling shareholders of the Company have any interests, direct or indirect, in these contracts, other than through their respective shareholdings in the Company.
About Acromec Limited (SGX Stock Code: 1CH1)
ACROMEC is an established specialist engineering services provider with more than 20 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.
ACROMEC’s business is divided into two main business segments: (i) Engineering, procurement and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.
The Group mainly serves the healthcare, biomedical, pharmaceutical, research and academia, and electronics sectors. ACROMEC counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. For more information, please visit www.acromec.com.
Media and Analysts Contact: Acromec Limited Mr Jerry Tan Chief Financial Officer Tel: +65 6415 0574 Email: jerry.tan@acromec.com
This media release has been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.
