On July 19th, Dook Media Group Limited (SHE:301025), invested by Legend Capital, was successfully listed on the Growth Enterprise Market in China. With a public offering of 40.01 million shares, the stock closed at RMB31.66 per share, up 1942% from its initial price. Its total market value reached over RMB12.6 billion.
When Dook Media was established in 2009, a “full copyright” operator that takes “inspiring personal growth” as its purpose was born. The company’s core businesses are book planning and distribution as well as related cultural value-added service. With the vision of “cultivate local writers and promote traditional culture under national policies”, Dook Media is committed to becoming a leading creative cultural enterprise with unique creative methods and talent training systems by providing the public with high-quality books that span the fields of literature, arts, social sciences, and children’s book in multiple media formats.
Dook Media has become an enterprise with strong brand influence in the book industry due to the accumulated rich experience in books topic planning and editing, copyright operations, marketing, etc., The company gives priority to content quality, the books’ varieties exceed the industry average by more than 10 times. The main representatives included: Half Hour Comic, The Tibet Code, Galactic Empire, The Storied Life Of A.J. Fikry, The Godfather and etc.
Dook Media also signed a number of well-known e-book copyrights, such as The Three-Body Problem, Naruto and more. The Storied Life Of A.J. Fikry, Everything I Never Told You, Love O2O and other e-books have won best-selling e-book awards on Dangdang and Amazon. In recent years, the company has actively developed the audiobook market in Himalaya, Lazy audio, Qingting FM and WeRead. Some audiobooks have continuously ranked among the top ten bestsellers on Himalaya FM.
Legend Capital was the lead investor in the A round financing of Dook Media in June 2017 and made a follow-on investment in November of the same year. Legend Capital has accompanied Dook Media as a partner after its investment, providing in-depth and comprehensive value-added services in terms of industry resources, talent introduction, business improvement, strategic planning, and capitalization.
Jenking Shao, Managing Director of Legend Capital, said, “As the IP-based pan-entertainment industry has developed rapidly, the value of high-quality Intellectual Property (IP) has become more prominent. Dook Media is in the upstream position of the content industry, it belongs to Legend Capital’s important coverage in this industry and also, it has strong copyright operations capabilities across all channels in the industry, tapping and fully unlocking the value of IP, realizing the diversified monetization of copyright assets. After the listing, Dook Media will gradually enrich their copyright library in the future, while applying existing methodologies to empower more high-quality reserved copyrights and develop an IP incubation platform.”
Legend Capital has always paid attention to the development of the content industry chain, especially the scarce resources of the leading IP. At present, the literary reading market is still one of the important sources of IP incubation. In the field of content, Legend Capital has invested in representative companies such as Bilibili (NASDAQ:BILI), Taihe Music Group, Modern Sky, Wajijiwa, HYBE (KOSE: A352820), Bruco, Qianxun, etc.
ZALL Smart Commerce Group (ZALL), Asia’s largest B2B e-commerce group, looks to become the world’s leading global digital trade platform with its new strategic rebrand. It aims to create an open and interconnected B2B trading ecosystem between China and ASEAN, and to drive the rapid growth and development of industries and businesses through the use of new trading methods and advanced technologies.
With the strategic rebrand, ZALL aims to create value through its global intelligent services across B2B transactions, supply chain services and digital cloud services, transforming industrial value chains across the region and enabling businesses to improve overall efficiency. ZALL currently serves around 30 B2B platforms in China, the United States and Singapore, to millions of SMEs worldwide. It has also been investing heavily in the development of next-generation intelligent trading platforms to help empower seamless data exchange across platforms integrating information, logistics and capital flows across wholesale and commodities, retail trade and logistics industries in China and Singapore.
Testament to their hard work and effort, ZALL and its Singapore-based international trading platform, Commodities Intelligence Centre (CIC), were recently conferred the prestigious Gold and Silver Awards at the 2021 Asia-Pacific Stevie Awards during the virtual awards ceremony held on 14 July 2021. It is a major achievement for the teams as it highlights ZALL’s dedication towards transforming global trade and supply chains since its strategic rebrand.
Peter Yu, Executive Vice President of ZALL Smart Commerce, Singapore, shared, “As the world continues to adapt and rise up to the challenges posed by the pandemic, we wanted to focus our efforts on digital innovation, creating an even more resilient and sustainable global trade and supply chain ecosystem. This can be done by incorporating data and digital technologies into every part of the industrial value chain, from both the demand to the supply side. With our expertise in Artificial Intelligence, Big Data and Blockchain, we believe we are well-positioned to help businesses worldwide adopt innovative technologies to succeed in the new digital world order.”
On the back of its strong technology research and development capabilities, ZALL was also ranked 58th in the ‘2020 Global Blockchain Invention Patent Ranking’ published by the incoPat Innovation Index Research Center. ZALL’s research institute was granted more than 200 intellectual property rights last year, namely in the fields of blockchain, artificial intelligence and big data. Recognising the complexity and difficulty of adopting blockchain for many enterprises, ZALL recently launched ‘Z-Block Gateway’, a blockchain Backend-as-a-Service (BaaS) solution that is both low-code and easy to operate and deploy across various industries and mainstream cloud servers.
Alongside ZALL, CIC has also launched “CORP INFO” that offers “Know-Your-Counterparty” and “Credit Info” services to help SMEs manage their business risks by being able to verify and conduct due diligence on prospective business partners and counterparties before engaging in official dealings. Companies will have access to a range of essential business information such as business registration, historical background, holding companies, shareholders, legal and financial activities, lawsuits and related risks of more than 200 million companies and 2.1 billion trade records in Singapore, China and other parts of the world to help businesses better identify their counterparties.
About Commodities Intelligence Centre (CIC)
The Commodities Intelligence Centre (CIC) is a global trading platform for physical commodities including Ferrous & Non-Ferrous Metals, Chemicals & Plastics, Oil & Petroleum, and Agri Commodities. Officially launched in Singapore on 12 Oct 2018, CIC is a Joint Venture between China-based ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX) to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore.
CIC aims to revolutionise commodity trading and facilitate cross-border trade through deal matching, trade finance, supply chain logistics, track and trace and global trade compliance. Since its establishment in October 2018, CIC has achieved a GMV (Gross Merchandise Volume) of more than US$13.4 billion (S$17.6 billion), with over 5,800 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia. For more information, please visit https://www.cic-tp.com/.
About ZALL Smart Commerce Group
ZALL Smart Commerce Group is a leading Chinese B2B e-commerce group (Fortune” China Top 500 list in 2020) with a global footprint across the world and its entities are listed on three exchanges on HKSE, NYSE and SSE. 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 mil 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.
Since 2018, ZALL has invested in five projects in Singapore, including the Commodities Intelligence Centre (CIC), Singapore’s first physical commodity eTrading platform (B2B) powered by blockchain technology; ezbuy.sg, Singapore’s leading global online shopping platform; ZMA Smart Capital, an online trade finance company; ZALL Chain Technology, a blockchain solutions company. For more information, please visit http://en.zallcn.com/
The Board of Singapore Myanmar Investco Limited (“SMI”) is pleased to announce that it has entered a comprehensive non-binding memorandum of understanding (“MOU”) yesterday with NASDAQ-listed Internet company The9 Limited, to launch a cryptocurrency cloud mining business.
Focusing initially on three types of cryptocurrencies – Bitcoin (BTC), Filecoin (FIL) and Chia (XCH) – the mining business will be hosted in a range of facilities across Canada, US, Central Asia and the ASEAN region to serve customers. This business is expected to commence in Q4 2021 and will be subject to regulatory approval.
Following the MOU, SMI has also entered into a cooperation and support agreement yesterday, which includes a range of technical support services to be provided by NHASH (Hang Zhou Suan Li Technology Co Ltd), a cryptocurrency cloud mining Software-as-a-Service (“SaaS”) company, for an initial five year term, and with an option to extend for another five years, subject to mutual agreement.
This agreement also presents SMI with the option to purchase up to 4,000 crypto mining machines, including models such as the Antminer S19j, and the Whatsminer M31S+, for a consideration to be further agreed on by both parties. Any payment through shares will be subject to the approval of SMI’s shareholders at an extraordinary general meeting to be convened in the later part of the year.
SMI, The9 and NHASH are committed to best practices in reducing the environmental impact of cryptocurrency cloud mining operations.
“SMI is delighted to embark on this initial range of mining products and services, making it easier for customers in our region to participate in cryptocurrency mining. We will continue to work with The9 and other partners to bring a range of other leading digital products and services to market, as we pivot SMI away from its traditional businesses,” said Mark Bedingham, President and CEO of SMI.
This latest move follows SMI’s entering into a subscription agreement with The9 for new shares in SMI, as announced by SMI on 21 June 2021.
About Singapore Myanmar Investco
Singapore Myanmar Investco Limited (“SMI”) is an investment and management company focused on the high-growth emerging economy of Myanmar. SMI adopts a diversified business model to capitalize on the strong trends in consumer spending, international tourism and infrastructure investment.
On June 30 2021, SMI announced its intention to pivot the company in a new direction encompassing cryptocurrency, SaaS and other high technology platforms subject to approval of SGX-ST, and SMI’s shareholders at a general meeting to be convened in the later part of the year (“EGM”), for a diversification of SMI’s core business. SMI is also looking to work with other partners in the areas of gaming, digital entertainment and robotics.
Listed on the Main Board of the Singapore Stock Exchange, SMI has a highly capable and experienced management team with proven track record in finance, business development and emerging markets.
For media queries, please reach out to: Ashley Tan Financial PR E: ashley@financialpr.com.sg T: (+65) 6438-2990
On July 8-9, 2021, Richard Li, the President of Legend Capital, attended the 10th Private Equity Investment Summit Forum held by Noah Holdings and delivered a speech on the topic of technological innovation, sharing his views on information technology, biotechnology and new energy, as well as the long-term prospects.
Major technological innovations and breakthroughs are taking place in vertical markets in the era of technology. In addition, the 14th Five-Year Plan and the Long-Range Objectives Through the Year 2035 pointed out that it is necessary to improve the national innovation system to strengthen scientific and technological capabilities. Driven by favorable national policies, technology investment has great potentials. As an investment institution, Legend Capital will continue to focus on technological innovation in the next two decades.
Richard Li, the President of Legend Capital, said:
“From my point of view, the development, breakthroughs and aggregation of new technologies in different vertical fields are jointly promoting the rapid development of various industries. In addition, policy support has increased, and the revitalization of the country with science and technology has risen to national strategic importance. When Legend Capital looks for investment targets, in addition to technological innovation, it is also very important to identify application and value creation under various scenarios.”
Legend Capital focuses on information technology, biotechnology and new energy, and believes that there are great investment opportunities within each of these innovation driven areas.
In the aspect of information technology, the intergenerational improvement of computing power promotes the exponential change in information technology. General artificial intelligence will be integrated with neuro-science to realize human-computer dialogue. Factors such as the ubiquitous integration of computing and communication power will accelerate the rapid development of artificial intelligence in the future.
As for energy technology, new energy will trigger a new round of energy revolution. China must adopt technology-driven means to achieve the goals of “carbon peak” and “carbon neutrality.”
In addition, synthetic biotechnology will lead to new production modes. As biotechnology and information technology are merging rapidly, substances, no matter whether they exist in nature or not, could be generated by means of combining biotechnological advancement and data-driven artificial intelligence prowess on the back of surging computing power. In the future, synthetic biotechnology would enable production through biological manufacturing in a carbon-free or low-carbon way.
Legend Capital focuses on the integration of diversified technologies to accelerate the development of all scientific and technological scenarios. Its investment covers cloud service, network security, health care, innovative consumption, etc., and includes cases like Bilibili (NASDAQ: BILI), Zuoyebang, Wish (NASDAQ: WISH), Galaxy, Pony,AI, Huice, etc.
The core business of Legend Capital is early-stage Venture Capital and expansion-stage Growth Capital investment. Legend Capital is now managing USD and RMB funds with a total AUM of US$8bn, and focuses on innovative and growth enterprises with operations in China or related to China. By 2021, Legend Capital has invested in over 500 companies, of which more than 90 companies are successfully listed domestically or overseas, and over 70 companies achieved exit through M&A.
Singapore-based Princeton Digital Group (PDG), Asia’s leading data center provider, today announced its plan to build one of the largest hyperscale facilities in Tokyo, Japan, with a total investment value of USD 1 Billion. Japan is the fifth market that the company has entered in since its formation 4 years ago. With this investment, PDG marks a major milestone in its plan to build a 600 megawatts (MW) portfolio across the region.
The new campus at Saitama City will have close to 100 MW of critical IT capacity across two phases of 48.5 MW each. Saitama City is one of the major commercial centers of the Greater Tokyo area. Located 30 km north of central Tokyo, the PDG Saitama campus has a total land area of 33,047 m2. The facility is designed to serve leading hyperscalers in Japan, one of the most dynamic cloud markets in the world.
PDG has already secured the land and power with construction to begin later this year. The facility will be built to the latest hyperscale design and standards, with unrivalled scalability, connectivity and reliability.
“The Asia Pacific region is set to be the largest data center market in the world, and this announcement underscores our vision to be the market leader in this region,” said Rangu Salgame, Chairman and CEO of Princeton Digital Group. “Over the last four years, through our unique three-pronged strategy of acquisitions, carve-outs and greenfield development, we’ve built a strong portfolio of data centers across key Asian markets such as China, Singapore, Indonesia and India. PDG has become a partner of choice for hyperscalers across multiple countries. Our entry into Japan and, in particular, Tokyo demonstrates our continued ability to enter new markets that matter to our customers.”
Tokyo is the largest data center market in Asia outside of China and is still in the early stages of growth, particularly in terms of entry and expansion of global hyperscalers. According to Structure Research, Greater Tokyo’s hyperscale colocation market is expected to reach USD1.6 billion by 2025, growing at a CAGR of 25.1% between 2021 and 2025.
“The Greater Tokyo market is projected to see accelerated demand from hyperscale data center deployments moving forward from what we believe is a convergence of several critical factors that include Japan’s sizeable addressable market as the 3rd largest country in the world by GDP, the absence of a domestic hyperscale cloud platform that presents an ideal competitive landscape between both US and Chinese hyperscale cloud providers, as well as being a key connectivity aggregation and distribution hub for submarine cables landing from the US West Coast to access the rest of the Asia Pacific region”, said Jabez Tan, Head of Research, Structure Research.
About Princeton Digital Group
Princeton Digital Group (PDG) is a leading investor, developer and operator of Internet infrastructure. Headquartered in Singapore with presence and operations in China, Singapore, India, Indonesia, and Japan, its portfolio of data centers power the expansion of hyperscalers and enterprises in the fastest-growing digital economies across Asia. For more information, visit www.princetondg.com
Start-up Express, an entrepreneurship development programme organized annually by the Hong Kong Trade Development Council (HKTDC), has returned for its fourth edition. The Pitching Final of the programme came to a successful conclusion today with a judging panel selecting exceptional Hong Kong tech start-ups that presented inspirational ideas and innovative solutions to help overcome social and environmental issues.
The Start-up Express Pitching Contest winners pictured together with the judging panel and special guests. Pictured on the front row (from left) are judges Herbert Chia, Venture Partner, Sequoia Capital China; Raymond Yung, Vice Chairman, AMTD Global Advisory Committee; Stephen Liang, Assistant Executive Director of HKTDC; Hendrick Sin, Co-founder & Executive Director & Vice Chairman, CMGE Technology Group Limited; and Duncan Chiu, Co-founder, Radiant Venture Capital Limited.The distinguished judging panel witnessed the rise of new start-up success stories.Renowned stand-up comedian Vivek Mahbubani, the event host, talked to entrepreneurs from some of the participating start-ups.
For the second consecutive year, the Pitching Final was live-streamed online due to the pandemic. The Social Impact Award, established to recognize innovative and sustainable start-up ideas that create real social impact, was awarded to Breer. The “My Favourite Start-up Award”, decided through live online polling, was awarded to Growgreen. The “AMTD SpiderNet Start-up Award” was awarded to HK Bio-Rhythm R&D and offers the winner to have open access to AMTD SpiderNet ecosystem. The 10 winners of the Pitching Final will participate in local and international activities that will help them develop their businesses by building connections, exploring markets, seeking partners and enhancing brand awareness.
Stephen Liang, Assistant Executive Director of HKTDC, said: “As the pandemic situation gradually begins to ease, and global trade and economic activities continue to recover, innovative business models and ideas will become a new stimulus for the economy in post-pandemic times. The enrolment for Start-up Express 2021 reflected the great enthusiasm of local entrepreneurs, with shortlisted start-ups coming from a broader spectrum of fields than ever before, including new areas such as green tech, health tech and retail tech. Start-up Express has given tremendous support to local start-ups over the past three years, helping them explore global markets, seal major orders and win international awards. The HKTDC will continue its quest to spread the spirit of entrepreneurship in Hong Kong, assisting start-ups in growing their businesses to the next level.”
Start-ups promote social innovation
The shortlisted companies in this year’s Start-up Express were mainly focused on new technologies such as artificial intelligence (AI) and robotics, smart city tech, fintech and big data, with other emerging technologies such as green tech, health tech and retail tech also covered. In the Pitching Final, contestants put forward their innovative business ideas and responded to questions raised by a distinguished panel of judges as well as the online audience. This year’s judging panel comprised:
– Raymond Yung, Vice Chairman, AMTD Global Advisory Committee; Board Director, AMTD International (NYSE:HKIB; SGX:HKB) – Duncan Chiu, Co-founder, Radiant Venture Capital Limited – Herbert Chia, Venture Partner, Sequoia Capital China – Hendrick Sin, Co-founder & Executive Director & Vice Chairman, CMGE Technology Group Limited – Norma Chu, Founder, DayDayCook
The winners of the 2021 Start-up Express Pitching contest are: Kin Shun Information Technology (HK), PanopticAI, HK Bio-Rhythm R&D, CLAIRE Clinical AI Research, Wizpresso, Growgreen, Aurora Tele-Oncology, Kamakura Foods, Dayta AI, DeepTranslate. Click here (https://tinyurl.com/b7uu89n7) to view the profiles of each of the winning start-ups which will be able to join a range of local and international activities and events, exploring networking opportunities with potential investors, buyers and business partners.
Attracting investors
AMTD Group is the Sole Strategic Partner of Start-up Express for the third consecutive year. Calvin Choi, Chairman and Chief Executive Officer of AMTD Group, shared his perspective on the contest. “I am impressed by the performance of our city’s young entrepreneurs in this year’s Start-up Express Pitching Final presentation. We shortlisted more start-ups from a broader spectrum of fields this year. Among the product design and technology solutions, the area of environmental, social and governance (ESG) was heavily featured, with numerous innovative ideas and practical solutions presented, showcasing the unique business ideas of the participants and demonstrating the innovative power of the young generation in Hong Kong.”
He added: “As the pandemic begins to ease, entrepreneurs with strategic foresight and flexibility can adjust their business plans according to the current market landscape so as to overcome challenges and maintain ongoing development, exploring new opportunities amid this ever-changing business environment.” With the support of AMTD Group, the SpiderNet Start-up Award was established to recognize the top performer selected by AMTD in the Pitching Final. The award aims to provide the winner with a unique and rare opportunity to access the resources and network of the AMTD SpiderNet ecosystem. The winner will benefit greatly in terms of its future business development and will also create synergies with other entrepreneurs within the ecosystem.
Duncan Chiu, Co-founder, Radiant Venture Capital Limited and a member of this year’s judging panel, said: “There are bound to be challenged in every entrepreneurial journey and the strength of a true entrepreneur is the ability to fight their way through the hard times. The global economy has been affected by the pandemic, so I am delighted to see so many Start-up Express applicants amid this uncertainty, showing their determination to fight through adversity and succeed. Each start-up has its own strength, and its innovative ideas could help to boost social development. Regardless of the result, we hope all participants will embrace new opportunities in the international market through Start-up Express’s unique support system, building connections and seeking opportunities with potential investors and partners. The entrepreneurial journey is never easy, but the results can definitely be fruitful.”
Assistance building brand reputation and awareness
A key driver for start-ups looking to participate in Start-up Express is the opportunity to enhance their brand awareness while also connecting with mentors, partners and investors through HKTDC-organised local and overseas events and extensive highly curated marketing exposure. This provides start-ups with the chance to learn from experts and strengthen their core business.
Past winners of Start-Up Express have benefited from new opportunities, including Return Helper, which offers a data-driven return management solution that optimizes the return process and aftermarket activities for online retailers; and Gense Technologies, which develops portable imaging devices for patients’ continuous health monitoring.
Roy Wan, Co-founder and CEO of Return Helper, said: “With the assistance provided by the HKTDC, I successfully connected with e-commerce associations and organizations in Taiwan and Guangzhou, meeting almost 200 e-commerce representatives last October. These are the kind of valuable opportunities open to Start-up Express winners.”
Justin Chan, Co-founder and CEO of Gense Technologies, said numerous media interviews were arranged through the HKTDC, which have greatly enhanced his company’s brand awareness and enabled more people to get to know its products and technologies.
HKTDC throws full support behind local start-ups
The HKTDC has always given its full support to Hong Kong’s entrepreneurial ecosystem, helping to maintain the city’s status as a competitive business centre and hub for innovation.
– The Hong Kong Start-up Fiesta, held in May and June, comprises a full range of activities to support and foster the local start-up ecosystem and help innovative new companies capture business opportunities amid the challenges of the pandemic. – The Start-up Express Master League, concluded in May, selected the programme alumni that had demonstrated the most vigorous business growth since joining the cohort. – Co-organised with the Hong Kong Startup Council in mid-June, Enterprise Connect: Solution Day invited start-ups in the areas of medtech, food tech and wellness tech to present their ideas under the theme “Well Being Tech”, pitching to business users and fostering collaboration between start-ups and user enterprises. – Co-organised with The Hong Kong Federation of Youth Groups in mid-June, the Young Founders’ Camp equipped young entrepreneurs via brainstorming workshops and mentorship sessions, offering a testing ground for them to implement their start-up ideas. – The success stories of various Start-up Express alumni have been brought together in the Start-up Express Digital Book: A Journey to Success.
In addition, to help enterprises the HKTDC runs the “HKTDC Transformation Sandbox (T-box)”, offering free support on branding, e-commerce, manufacturing relocation and new market development. The “Voice of Start-ups” series has been launched on the HKTDC online platform to promote the success stories of local start-ups and show how their creativity and versatility help them thrive and capture local and overseas business opportunities. As well as organizing Start-up Express, the HKTDC will give more support to start-ups by hosting the annual Entrepreneur Day in December.
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 organizes international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
About AMTD
AMTD Group is a comprehensive conglomerate in Asia, with businesses in investment banking, institutional asset management, digital solutions, real estate and hospitality, and education. AMTD Group is a global Strategic Partner Associate of the World Economic Forum, and has been the Grand Sponsor to the Singapore FinTech Festival since 2017 and Sole Strategic Partner to the Hong Kong FinTech Week since 2018.
AMTD International (NYSE: HKIB; SGX:HKB), a subsidiary of AMTD Group and dual-listed on the New York Stock Exchange and Singapore Exchange, is a leading independent investment bank in Asia and one of Asia’s largest independent asset management companies and is also a leading investment house in the financial and new economy.
AMTD Digital, a one-stop comprehensive digital solutions platform in Asia under AMTD Group, operates in businesses covering digital financial services, digital media, content & marketing, SpiderNet ecosystem solutions, and digital investment. Airstar Bank, one of the eight licensed virtual banks in Hong Kong, is a joint venture between AMTD and Xiaomi and a portfolio under this platform and is also one of the earlier virtual banks launching its service.
Media inquiries HKTDC Communications & Public Affairs Department Christine Kam, Tel: +852 2584 4514, Email: christine.kam@hktdc.org
In addition to assessing the trade and investment landscape and detailing areas for potential collaboration, the report also looks at the GBA in detail and how US businesses can leverage Hong Kong as an international platform to link up with the GBA to capture business opportunities.
Sean Randolph, the report’s principal author and Senior Director at the Bay Area Council Economic Institute, notes that “The GBA and the San Francisco Bay Area are both complex regions and global economic hubs. Hong Kong in particular, as an international crossroads with a dynamic services sector and innovative research, has similarities to San Francisco. With its relative openness and established legal system for business transactions, it’s also well-positioned as a bridge to the GBA. In the last few years doing business between the US and China has become more complicated but there are still many opportunities to explore, in fields from clean energy and climate change to health, biomedicine and fintech.”
Nicholas Kwan, Director of Research at HKTDC, which supported the study, comments that “As a global city Hong Kong plays a unique role in the Greater Bay Area plan based on its rule of law, respect for intellectual property, the scale and depth of its financial system, and its capacity for innovation. That opens the door for Bay Area and California companies to take advantage of opportunities in the GBA through partnerships in Hong Kong.”
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Media inquiries: HKTDC Communication and Public Affairs Department Rudie Lynes, Tel: +852 2584 4517, Email: rudie.lynes@hktdc.com
1982 Ventures backs Hugo, a Singapore-based digital wealth and savings app that helps Singaporeans develop healthy saving and investing habits. The Hugo app is now available in both Apple iOS and Google Play for iOS.
Hugo raises $2 million (USD) in Seed round from 1982 Ventures and prominent family offices and angels
Hugo’s Wealthcare App gives customers control over their financial well-being and access to flexible savings and investment products
Hugo recently launched its Gold Vault which makes investing in gold easy and accessible to all, with increments as small as S$0.01
Hugo has secured funding of $2 million (USD) from 1982 Ventures, prominent global and Singaporean family offices and angels. Hugo helps users develop healthy saving and investing habits that make financial security accessible to everyone in an easy and intuitive way. Founded in late 2019 by David Fergusson (CEO), Ben Davies (COO) and Braham Djidjelli (CPO), Hugo is positioned as the first Wealthcare App in the region.
David Fergusson, Chief Executive Officer and Co-Founder, of Hugo stated “Money is the biggest cause of stress and Covid-19 has only reinforced how financially unprepared most of us are. We are excited to introduce Hugo at a time when financial wellbeing has become so relevant.”
Hugo’s most unique feature is its Gold Vault and makes investing in gold easy for all. Hugo customers can buy or sell gold for as low as 0.01 SGD. Gold has always been a core investment for the ultra-wealthy and offers safety and wealth preservation in times of inflation and market turmoil. Hugo’s Gold Vault is backed by physical gold stored in an accredited LBMA (London Bullion Market Association) vault and insured by Lloyds of London, giving savers the same protections as large hedge funds and private banks.
Herston Powers, Managing Partner, of 1982 Ventures said “Hugo is democratizing access to gold with a low fee product that is extremely thoughtful and approachable. Singapore is a perfect market to launch the next generation of digital banking and wealth solutions.”
Hugo is on a mission to help users save more. Hugo customers benefit from Hugo’s Gold Vault (gold investing), Roundup (auto savings), Money Pots (setting financial goals) and the Hugo Platinum Visa Debit Card.
Scott Krivokopich, Managing Partner, of 1982 Ventures stated, “Hugo is proving that fintech startups will win the digital banking race in Southeast Asia by launching the first Wealthcare App in Singapore. The founders have a long and deep history in the region with roots that trace back to the 1930s in Singapore. Hugo has the banking and regulatory experience required to protect customers and grow a sustainable business.”
Hugo will use the funds to continue to enhance its offering with new customer-driven products and services. Hugo is also exploring market expansion in several Southeast Asian geographies and outside the region with local partners.
About 1982 Ventures 1982 Ventures is a Singapore-based VC firm focused on investing in early-stage fintech start-ups in Southeast Asia, investing in and supporting the best founders in positively impacting the future of financial services in Southeast Asia. 1982 Ventures is the partner of choice for international investors, corporates and fintechs to gain access to Southeast Asia. Feel free to reach out for more info on www.1982.vc, and follow us on LinkedIn.
About Hugo Hugo is a Singapore-based digital wealth and savings app that helps Singaporeans develop healthy saving and investing habits, ensuring financial wellbeing and providing access to gold to all. For more information visit www.hugosave.com.
IMC Ventures (“IMC Ventures”), a Singapore-based venture capital firm focused on investments in the maritime and supply chain industries, is pleased to announce that it has joined PIER71 as a venture capital partner with an objective to invest and nurture the maritime and supply chain ecosystem in Singapore.
With a vision to establish Singapore as a vibrant maritime ecosystem spearheading world-class innovation, the founding partners of PIER71 are Maritime and Port Authority of Singapore (“MPA”) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (“NUS”).
Bringing together a community of stakeholders who are keen to digitalise and create the next wave of maritime innovation, PIER71 designs and delivers programmes to uncover opportunities within the maritime industry by providing access to markets, demand drivers, technology solution providers, investors and more.
With an aim to create a positive environmental and social impact via investments in the maritime & logistics industries, IMC Ventures was established by IMC Industrial Group (“IMCIG”) to focus on creating sustainable returns and operational synergies between start-ups and IMCIG’s business units by enabling these start-ups to scale through access to its network of customers, infrastructure and resources.
IMC Industrial Group (IMCIG) is a leading integrated industrial company providing logistics, shipping, shipyard management and engineering, procurement, construction (EPC) services to our customers while creating long-term value for our shareholders.
“The ethos of PIER71 is every much aligned with IMC Ventures. We are looking to catalyse the start- up scene in Singapore by not just providing capital to enable these new innovative ventures to scale, but also to value add through synergies with our operating businesses in the maritime and logistic space,” said Mr. James Ong, Investment Committee Member of IMC Ventures.
With this partnership, there are significant opportunities for the start-ups under PIER71 to leverage on IMC Ventures’ in-depth market experience, specialised technical knowledge and vast industry networks to test-bed and deploy their ideas and innovations within the global maritime and supply chain ecosystem.
In addition, IMC Ventures will be exploring investments within PIER71’s network and to initiate more cooperation and collaboration efforts to accelerate the development and adoption of market- disrupting solutions. This will be a boost for more improvements and enhancements within the maritime and supply chain ecosystem as a whole, thereby making a meaningful contribution to the environment and communities as a whole.
Mr. Thomas Ting, Chief Technology Officer, Maritime and Port Authority of Singapore said: “We are heartened by the partnership of like-minded ecosystem players like IMC Ventures with PIER71 and MPA. As we grow Singapore to become a leading hub for marinetech (maritime technology) start- ups, investments from private sector will be key.
In particular, venture capitalists with deep maritime expertise will be highly beneficial to the entire innovation ecosystem. I’m confident that IMC Ventures will bring their deep industry knowledge and networks to help marinetech start-ups commercialise and scale.”
Mr. Ryan Chan, Group Managing Director of IMC Industrial Group added: “IMC Ventures adds value to IMCIG as it allows ownership in ventures that brings value to our business and opens up possible opportunities to collaborate in setting the direction of innovative ideas in start-ups for various new technologies we are exploring. We will offer the capabilities and access to our shipping platform as partners to the right candidates.
With IMC Ventures partnering with MPA and PIER71, we are further building on the close partnership between IMC and MPA, to reaffirm our commitment to the future success and development of Singapore’s maritime hub.”
About IMC Ventures
With an aim to create a positive environmental and social impact via investments in the maritime & logistics industries, IMC Ventures was established by IMC Industrial Group (“IMCIG”) to focus on creating sustainable returns and operational synergies between startups and IMCIG’s business units by enabling these startups scale through access to its network of customers, infrastructure and resources.
IMCIG is part of Singapore-headquartered IMC Pan Asia Alliance Group which is actively invested in a diverse portfolio of investments covering shipping, ports, resources, real estate, investment management and lifestyle industries across the globe. With a business heritage dating back to early 1900s involving shipping and transportation activities, IMC Pan Asia Alliance Group has evolved across the decades and it currently employs more than 9,000 people in 15 countries with major presence in China, Indonesia and Thailand.
Issued on behalf of IMC Ventures by 8PR Asia Pte Ltd. Media Contact: Mr. Alex TAN Mobile: +65 9451 5252 Email: alex.tan@8prasia.com
Alpha DX Group Limited, (“Alpha DX”, the “Company” and together with its subsidiaries, the “Group”), a premier learning and education solution company, is pleased to announce that its technology subsidiary, ZioNext Pte Ltd, has signed a Memorandum of Understanding to invest in Singapore-based JobForesight, which has developed a cloud-based application, Careershe, that offers an academic & career planning platform that is targeted at the largest education system in the world.
Guangdong-based Careershe (https://www.careershe.com/en.html) was created to assist Chinese youth between ages of 15 and 25 years old to equip themselves with the relevant information and knowledge that are necessary for them to optimise their decision-making process in choosing the appropriate education programs as well as the career opportunities that are best suited to them.
With personalised matching analysis using Big Data and Artificial Intelligence (AI) and the database on Careershe’s platform, Careershe can enable Chinese youths to navigate through the extremely competitive education and career environment by personalising the education and career roadmap with the formulation of an optimal academic and career design.
With the proposed investment, Careershe universal student navigation platform will be integrated with Alpha DX’s Ubiquitous Learning Super Platform (ULSP) to expand the Group’s service offerings to harness new opportunities within the global learning and education ecosystem.
The Company will update shareholders of any developments on the proposed investment in JobForesight.
Formerly known as Alpha Energy Holdings Limited, the Group has transformed itself in January 2021 with fund raising and restructuring initiatives under the leadership of technology and financial veterans in the learning and education industry.
Alpha DX’s CEO, Mr Daiji Yamada, said, “Education unlocks vital skills that shapes our career and lives, hence Careershe is developed as a trusted and reliable source for Chinese students to obtain objective insights and professional guidance in their education and career journey to achieve their full potential and dreams.
We aim to work together with Careershe to enable more youths to acquire the relevant skillsets and knowledge in their areas of interest and to transition seamlessly in their future careers.”
About Alpha DX Group Limited (Bloomberg: ALEN:SP / Reuters: ALPH.SI/ SGX Stock Code: VVL)
Listed on the Singapore Stock Exchange, Alpha DX Group Limited (“Alpha DX”) is one of the region’s leading learning solution companies.
Led by the veterans in Technology, Education, Corporate Training and Business consultancy in both the Board of Directors and the management team, Alpha DX provides next generation XR(2) integrated solutions in learning and education market enabling our customers to create engaging, impactful learning and training experiences that have never been possible until now– Next generation Learning Institutions, multi-dimensional learning design, digital content creation, learning technologies, learning platform solutions and systems integration — all under one roof.
With a strategic focus on integrating Extended Reality (XR)(1) technology to create a personalised and expanded learning experience, Alpha DX aims to develop new value propositions to serve the future needs of learners from its diversified customer base, ranging from government agencies, education institutions to private enterprises.
(1) XR is a term used to describe immersive technologies (such as augmented reality, virtual reality, and mixed reality plus other new innovations that are still in development) that can merge the physical and virtual worlds.
Issued on behalf of Alpha DX Group Limited. by 8PR Asia Pte Ltd. Media & Investor Contacts: Mr. Alex TAN Mobile: +65 9451 5252 Email: alex.tan@8prasia.com
This press 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 press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Ms Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.
