lululab secures Series B funding led by Netmarble
AGBA Acquisition Limited Entered Into A Non-Binding Term Sheet For A Potential Acquisition Of The Platform Business Of Convoy
Mercurity Fintech Holding Inc. Reports Third Quarter 2020 Financial Results
Housing Conference 2020 Webinar 'Beyond The Pandemic - Reshaping Real Estate' 26 November 2020
Lightnet Group Forges Partnership with Siam Commercial Bank
Manuela Baroncini joins Swiss Re Corporate Solutions as Global Head Engineering & Construction
Role of Manufacturing CFO 4.0 Indispensable as Industry Accelerates Digital Transformation Efforts
OneConnect Financial Technology cements presence in Malaysia with new entity; Launch graced by MDEC
Hankyung.com's introduces: SBA to host "2020 Seoul Award Global Sourcing Fair" to support international sales of K-Products
Insurtech Pier receives an investment of US$ 14.5 million
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Apec Diem Thuy Thai Nguyen Industrial Park becomes a new model industrial park in Vietnam
Apec Diem Thuy - Thai Nguyen Industrial Park was built to become an investment opportunity for the economic center of the North of Vietnam, meeting the service demands of foreign experts and businesses.THAI NGUYEN, Vietnam, Nov. 26, 2020 /PRNewswire/ -- Located next to Hanoi, converged of many large industrial zones and considered as "the first choice" for manufacturers aiming to move out of the Chinese market, Thai Nguyen emerged as an industrial real estate market with the most potential in the North thanks to its convenient location as a trade bridge with synchronous investment transport infrastructure. Besides, Thai Nguyen is also considered as one of the important industrial park of Korea in Vietnam. Up to now, there have been up to 17 projects with a total registered investment capital of 352.8 million USD, including major investors such as Samsung, Masan, etc. Apec Diem Thuy Industrial Park is synchronously invested with high infrastructure standards Apec Diem Thuy Industrial Park is an member of APEC Thai Nguyen Investment Joint Stock Company, located in Phu Binh district and Pho Yen town center, Thai Nguyen province; located next to the highway Hanoi - Thai Nguyen, near the river (Cau river, Cong river, Da Phuc port), railway (Hanoi-Thai Nguyen) and by air (near Noi Bai airport). Overall, Apec Diem Thuy Industrial Park has convenient traffic, easy connection, which is very suitable for investors to locate factories. Investing in Apec Diem Thuy Industrial Park, the investor would benefit from the available and modern infrastructure, for example, the two-lane provincial road system 82m wide, internal road system 20m - 36m wide, electrical system, rainwater drainage & separate wastewater, telecommunications services, information technology, security, bank, etc. Furthermore, investors would be generously supported to convenient completion of all the procedures for applying for an investment license, tax code and seal. With the orientation of developing a sustainable industrial park, achieving high economic efficiency and supporting investors, the whole area are divided as factory area, headquarter, land services for industrial parks, greenery area, water surface area, traffic area, parking lot and so on. Apec Diem Thuy is a combination of industrial development and various services, ensuring sustainable development and creating synchronous infrastructure. Mr. Nguyen Quang Huy, Deputy General Director of APEC Group affirmed "Apec Diem Thuy Industrial Park would form a sustainable ecosystem, meeting the needs of housing and convenient living environment for experts, engineers and workers, opening up impressive business opportunities and making sustainable profitable investments. " Invested synchronously in technical infrastructure, social infrastructure, modern architectural planning and beautiful landscape, Apec Diem Thuy Industrial Park forms a sustainable eco-friendly ecosystem, meeting the needs of housing and convenient living environment, as well as opening up impressive business opportunities and making sustainable profitable investments.
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Sanne promotes Country Head in Mauritius
ST HELIER, Jersey, Nov. 27, 2020 /PRNewswire/ -- Sanne, a leading global provider of alternative asset and corporate business services, has promoted Rubina Toorawa from Chief Operating Officer, Mauritius to the role of Country Head, Mauritius. Rubina Toorawa, Sanne’s new Country Head, Mauritius In her role, Rubina will have oversight of the Mauritius operations, including the group's business outsourcing leadership teams and business development function. Rubina will be taking over from Peter Nagle as he transitions to a newly created role as Managing Director, Global Head of Client Growth. On the appointment, Rubina commented, "I am humbled by the opportunity to lead such a dynamic, focused and energised team. We have a strong business proposition and I look forward to working with our clients and partners to better align client services. Our valued clients and staff will always remain my top priority." Mauritius, located between Asia and Africa, has evolved into an International Financial Centre of Excellence and high repute. With its reputable and strong regulatory framework, alongside a sophisticated banking platform, the island offers businesses an attractive hub to offer clients an extensive range of financial services. With ISAE 3402 (Type II) accreditation, Sanne has successfully integrated robust processes and controls within its operational model to deliver high-quality, cost-efficient solutions with great integrity and precision for detail. Photo - https://mma.prnasia.com/media2/1343439/rubina_toorawa.jpg?p=medium600 Logo - https://mma.prnasia.com/media2/1343440/Sanne_Logo.jpg?p=medium600
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Swyftx's Australian Black Friday Giveaway is Handing Out Crypto and a Ledger Wallet
SYDNEY, Nov. 27, 2020 /PRNewswire/ -- Australia's fastest-growing cryptocurrency exchange by total trading volume, Swyftx, is hosting a Black Friday Giveaway to distribute free crypto and a Ledger Nano X hardware wallet to further demonstrate the crypto exchange's commitment to creating a secure community and expressing gratitude to its users. Australia Crypto Exchange Swyftx (PRNewsFoto/Swyftx) Swyftx CEO, Alex Harper, who grew the company from $10M in monthly transactions to $100M during the 2018 bear run with his co-founder Angus Goldman, said that the company is doing the Australia Black Friday Giveaway for Crypto because of how grateful he is to the community. Harper jumps on any opportunity he gets to give back value to the dedicated users who love Swyftx. "We are fortunate to have users who trust us. We have the highest ranking on TrustPilot over any other exchange within Australia and New Zealand with 4.8/5 stars across over 700 reviews. Our community believes in our product and trusts in the company's vision of enabling fast, simple and affordable ways to buy, sell and trade crypto for everyone," Harper said. Details of Swyftx's Australia Black Friday Giveaway with Crypto & Ledger: There will be one winner for the first two prizes and 2 runner ups for the BTC and ETH. (1 winner) The $1000AUD of assorted crypto (1 winner) Ledger Nano X (2 Runners Up) $500AUD ($250AUD in BTC and $250AUD in ETH) Personalised Account Manager to set up your crypto on your ledger. Other digital assets include: $300AUD worth of BTC $250AUD worth of ETH $150AUD worth of LINK $150AUD worth of DOT $150AUD worth of XTZ How to Enter: Head over to our Gleam Competition: https://swyftx.app/black-friday-2020 Complete any number of steps to earn up to a maximum of 15 entries; Competition closes at 11:59PM AEST on the 29th of November 2020; Winner drawn on the 30th of November 2020. About SwyftxSwyftx is Australia's most trusted and progressive cryptocurrency trading platform. It implements layered security, instant verification, best prices and live chat support. In 2019, Swyftx has grown 1100% to over $120Min monthly trading volume. Since then, Swyftx has grown to over 40,000 users and is planning to go international by 2021. Here is a link to the exchange's website: https://swyftx.com.au Contact:Press@Swyftx.com.au Photo - https://mma.prnasia.com/media2/1342739/swyftx_black_friday_giveaway.jpg?p=medium600 Related Links :https://swyftx.com.au
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Vestas wins 328 MW order for two wind projects in Australia
SINGAPORE, Nov. 27, 2020 /PRNewswire/ -- In partnership with Global Power Generation, a subsidiary of the multinational power company Naturgy Group, Vestas has secured a 328 MW deal for two wind projects in Victoria, Australia. The order includes supply and installation of 52 V136-4.2 MW wind turbines for the Ryan Corner Wind Farm as well as the engineering, procurement and construction of 26 V136-4.2 MW wind turbines for the second stage of Berrybank Wind Farm. Both projects mark an important step towards building smarter, more liveable and emissions-free cities. In addition to this, the second stage of Berrybank Wind Farm is one of the successful projects under the Australian Capital Territory's 2019-20 renewable energy auction and will be Vestas' fifth Australian project to be initiated through a government renewable energy auction scheme. Upon completion, Vestas will commence a 15-year Active Output Management 5000 (AOM 5000) service agreement for both projects. With an energy-based availability guarantee, the service agreements will maximise energy production and provide Global Power Generation with long-term business case certainty. "We are proud that customers from all around the world turn to Vestas for our leading technology, market experience, broad service solutions and ultimately, the best return on investment for their wind project", said Clive Turton, President of Vestas Asia Pacific. "Global Power Generation is a valued customer to Vestas globally and we look forward to building upon our existing partnership". "As a successful previous partner of the Australian Capital Territory's renewable energy auction, Vestas is pleased to deliver stage two of Berrybank Wind Farm and support the ACT's vision for a sustainable future", said Peter Cowling, Head of Vestas Australia and New Zealand. "Vestas is the largest installer and maintainer of wind generators in Australia. Our 327 MW partnership with Global Power Generation reinforces our commitment to Australia's clean energy transition". "Global Power Generation is pleased to continue its partnership with Vestas as OEM of choice, and long-term maintenance service provider for Ryan Corner and Berrybank wind farms stage one and two", said Pedro Serrano, Chief Business Development Officer, Global Power Generation. The two projects are set to provide clean energy to approximately 120,000 homes. In addition, the projects will create almost 500 jobs during their construction. Delivery of the turbines for both projects is expected to occur in the third quarter of 2021, with commissioning scheduled for the third quarter of 2022. About Vestas Vestas is the energy industry's global partner on sustainable energy solutions. We design, manufacture, install, and service wind turbines across the globe, and with more than 122 GW of wind turbines in 82 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 108 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas' more than 25,500 employees are bringing the world sustainable energy solutions to power a bright future. For updated Vestas photographs and videos, please visit our media images page on:https://www.vestas.com/en/media/images We invite you to learn more about Vestas by visiting our website at www.vestas.com and follow us on our social media channels: http://www.twitter.com/vestas http://www.linkedin.com/company/vestas www.facebook.com/vestas www.instagram.com/vestas http://www.youtube.com/vestas About Global Power Generation (Naturgy Group) Global Power Generation (GPG) is the Naturgy Energy Group's subsidiary dedicated to international power generation, which is 25% owned by the Kuwait Investment Authority (KIA), the oldest sovereign fund in the world. KIA's interest in GPG is managed by the KIA's direct infrastructure platform, Wren House Infrastructure Management. GPG manages a total installed capacity of 4,100 MW and employs around 800 people worldwide. We are backed by a great variety of projects that we have developed in different countries around the world and our best resource is the experience and know-how of our team. We bring an owner-orientated approach to each of our projects and primarily focus on long-term projects. We are a company dedicated to the environment, health, safety and the community. For further information about Naturgy, GPG and GPG Australia, please visit our websites on: https://www.naturgy.com/en/home https://www.globalpower-generation.com/ http://globalpower-generation.com.au/ https://www.berrybankwindfarm.globalpower-generation.com.au/ We also invite you to visit our mother company´s social media channels: https://www.instagram.com/naturgy/ https://www.linkedin.com/company/naturgy/ https://www.youtube.com/naturgy https://www.facebook.com/Naturgy/ https://twitter.com/Naturgy Related Links :http://www.vestas.com
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Ossen Innovation Announces Results of 2020 Annual General Meeting of Shareholders
SHANGHAI, Nov. 26, 2020 /PRNewswire/ -- Ossen Innovation Co., Ltd. ("Ossen" or the "Company") (Nasdaq: OSN), a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, today announced the completion of its 2020 annual general meeting of shareholders which was held on November 23, 2020 at the Company's headquarters located at 518 Shangcheng Road, Floor 17, Shanghai, China. Shareholder voting outcomes from the annual general meeting resulted in the re-election of Dr. Liang Tang, Mr. Wei Hua, Mr. Junhong Li, Ms. Yingli Pan, and Mr. Zhongcai Wu to Ossen's Board of Directors. BDO China Shu Lun Pan Certified Public Accountants LLP was also re-appointed as the Company's independent registered accounting firm for the fiscal year ending December 31, 2020. About Ossen Innovation Co., Ltd. Ossen Innovation Co., Ltd. manufactures and sells a wide variety of plain surface pre-stressed steel materials and rare earth coated and zinc coated pre-stressed steel materials. The Company's products are mainly used in the construction of bridges, as well as in highways and other infrastructure projects. Ossen has two manufacturing facilities located in Maanshan, Anhui Province, and Jiujiang, Jiangxi Province. Safe Harbor Statements This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company's public filings with the Securities and Exchange Commission, including the Company's annual report on Form 20-F. All information provided in this press release is as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. For more information, please contact: Wei Hua, Chief Executive OfficerEmail: int.tr@ossengroup.com Phone: +86-21-6888-8886Web: www.osseninnovation.com Investor Relations: GIC IRPhone: +1-347-393-4230Email: info@goldenir.com
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Deep Longevity Adds Partnership with My Care Express in Merrillville To Add Biomarkers of Aging and Longevity
HONG KONG, Nov. 26, 2020 /PRNewswire/ -- Regent Pacific Group Limited ("Regent Pacific" or the "Company" and together with its subsidiaries, the "Group"; SEHK:0575.HK)'s Deep Longevity, Inc, a company subject to a conditional acquisition by the Group which is a pioneer in deep biomarkers of aging and longevity today announced a collaboration with My Care Express Merrillville to deploy an extensive range of AI-powered aging clocks. Deep Longevity is to develop and provide the customized predictors of human biological age to the network of My Care Express clinicians and to provide a training program in longevity medicine. Deep Longevity aging clocks are supported by a number of academic publications summarized in a recent review titled "BioHorology and biomarkers of aging: Current state-of-the-art, challenges and opportunities" My Care Express Merrillville has been a provider of preventative and total health care to its patients since it opened. My Care Express has a unique approach to wellness and longevity by helping patients establish wellness goals to live happier, healthier and longer lives. Deep Longevity and My Care Express will partner to see the impact that the utilization of aging clocks has on their patients. "We have always believed that the more information our patients have regarding their health, the better choices they will make. We believe that implementing aging clocks will give our patients a better understanding of their current health and help them achieve their wellness goals", said Dr. Faiz Shareef. In the scope of the partnership My Care Express physicians will be trained in deep aging clocks and will be able to provide their customers with AgeMetric™ reports and engage in advanced research to assess the performance of aging clocks in the context of their wellness journey. "The traditional approach to preventative medicine is focused on preventing disease by diagnosing the symptoms early or reducing the risks of disease. The AI-guided longevity medicine goes much further than that and is focusing on tracking the person's rates of aging at many levels, identification of longevity bottlenecks, and utilizing the latest advances in science and technology to slow down or reverse biological and psychological aging. We are very happy to have My Care Express join the rapidly growing network of our research and clinical partners focused on providing customers with extra years of productive and happy life", said Alex Zhavoronkov, Chief Longevity Officer of Deep Longevity Inc. About Deep Longevity Deep Longevity is subject to a conditional acquisition by Regent Pacific Group Limited (SEHK:0575.HK), a public company whose securities are listed on The Stock Exchange of Hong Kong Limited. Deep Longevity is developing explainable artificial intelligence systems to track the rate of aging at the molecular, cellular, tissue, organ, system, physiological, and psychological levels. It is also developing systems for the emerging field of longevity medicine enabling physicians to make better decisions on the interventions that may slow down, or reverse the aging processes. Deep Longevity developed Longevity as a Service (LaaS)© solution to integrate multiple deep biomarkers of aging dubbed "deep aging clocks" to provide a universal multifactorial measure of human biological age. Originally incubated by Insilico Medicine, Deep Longevity started its independent journey in 2020 after securing a round of funding from the most credible venture capitalists specializing in biotechnology, longevity, and artificial intelligence. ETP Ventures, Human Longevity and Performance Impact Venture Fund, BOLD Capital Partners, Longevity Vision Fund, LongeVC, co-founder of Oculus, Michael Antonov, and other experts AI and biotechnology investors supported the company. Deep Longevity established a research partnership with one of the most prominent longevity organizations, Human Longevity, Inc. to provide a range of aging clocks to the network of advanced physicians and researchers. http://longevity.ai/ About Regent Pacific (SEHK: 0575.HK) Regent Pacific is a diversified investment group based in Hong Kong currently holding various corporate and strategic investments focusing on the healthcare, wellness, and life sciences sectors. The Group has a strong track record of investments and has returned approximately US$298 million to shareholders in the 21 years of financial reporting since its initial public offering. http://www.regentpac.com/ About My Care Express Merrillville My Care Express Merrillville is a clinic in Northwest Indiana that provides primary and urgent care with a focus on preventative medicine. My Care Express believes in a proactive approach to healthcare by providing its patients with tools that will help them live longer healthier lives. Located on the border of Indiana and Illinois, My Care Express has a dynamic and diverse practice. For more information visit mycareexpressclinic.com Related Links :http://www.regentpac.com
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"Connecting Shandong with Fortune Global 500" Series of Events Successfully Staged
JINAN, China, Nov. 26, 2020 /PRNewswire/ -- The "Connecting Shandong with Fortune Global 500" series of events with five special sessions in Europe, ASEAN, the United States, South Korea and Japan have been successfully staged from August 27 to November 10. The activities were hosted by the CPC Shandong Provincial Committee and Shandong Provincial People's Government, and supported by the Ministry of Commerce and the Ministry of Foreign Affairs. Themed on "Deepen Communication and Achieve Win-win Cooperation," the event was carried out mainly online plus some offline activities. The five special sessions were broadcasted live globally in multiple languages covering the world's major economies, thus enhancing the strategic communication and result-oriented exchanges between Shandong Province and Fortune 500 multinationals and its major economic and trade partners at national or regional levels. "Connecting Shandong with Fortune Global 500" Series of Events Successfully Staged Officials of the CPC Shandong Provincial Committee and Shandong Provincial People's Government attended throughout the activities. Fifty-nine high-level guests from 14 countries and regions delivered speeches or participated in the dialogues at the main sessions. The majority of them were the 38 business leaders, including presidents and chairmen, 5 vice presidents responsible for the global market and 10 presidents responsible for the China market from 11 Fortune 500 companies such as Glencore, Heraeus, Wilmar International, Charoen Pokphand, Air Products, CJ, SK, Sumitomo Corporation, Marubeni, Mitsubishi UFJ, among others. In addition, 4 foreign ministerial dignitaries from Japan, Korea, Singapore and Cambodia, 2 Chinese ambassadors to Japan and Singapore, 1 Korean ambassador to China, and 7 guests from the Association for the Promotion of International Trade, Japan as well as other famous business associations took part in the events. In addition to the main activities, the Shandong-Korea Economic and Trade Cooperation Conference and the Investment Promotion Conference for the Industrial Chain with Japan were held concurrently during the five sessions, focusing on the advantageous industries of Japan and South Korea with topics such as targeted investment and matching negotiations. With a focus on high-end cooperation in the industry chain, targeted investment and project promotion negotiations were conducted regarding the global multinational corporations. A total of 64 projects were signed during the five sessions, with the total investment amounting to US$3.7 billion, including US$1.19 billion of foreign investment, covering industries such as high-end equipment manufacturing, new materials, medical and health care, high-end chemicals, modern services, modern finance, modern efficient agriculture, modern logistics, and biotechnology.
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The Green Economy: Unlocking a More Sustainable Future in Southeast Asia
Bain & Company launches Global Sustainability Innovation Center in Singapore, supported by the country's Economic Development Board.SINGAPORE, Nov. 26, 2020 /PRNewswire/ -- Southeast Asia is waking up to a USD1 trillion annual economic opportunity if it pursues the economic and societal potential of the green economy, due in equal parts to need and opportunity. The region could be greener by 2030, spurred on by accelerating global momentum and investment to address sustainability and climate challenges. Yet Southeast Asia still has a long way to go. With its share of global population, biodiversity and resources, the region can play a far bigger role, offering significant growth potential moving forward. These are among the findings of Bain & Company's Southeast Asia sustainability outlook, Southeast Asia's Green Economy: Pathway to Full Potential, released today. Southeast Asia could transform quickly, ensuring sustainable energy, creating healthy and sustainable food ecosystems, developing efficient industries and supply chains, establishing greener and more connected cities, and spearheading green financing. Accelerating development of the Southeast Asian green economy offers a USD1 trillion economic opportunity annually for businesses by 2030, enabling regional companies and societies to build a competitive advantage for the future. As part of Bain's continued efforts to drive sustainability transformation across the globe, the firm has launched a Global Sustainability Innovation Centre (GSIC), with the support of the Singapore Economic Development Board (EDB). The GSIC will seek to pioneer innovative solutions to accelerate corporates' sustainability journeys, tackling some of the planet's biggest challenges. The center will be based in Singapore and will support Bain's deep expertise in sustainability in the region – helping companies to reach their ESG goals. "Globally, countries are prioritizing sustainability investments as concerns about climate change and the resulting transition to a green economy gathers speed and urgency," said Gerry Mattios, Co-Director of Bain's Global Sustainability Innovation Center in Singapore and co-author of the report. "Stimulus programs injected into economies around the world to address the COVID-19 pandemic and promote 'build back better' initiatives are accelerating the push towards greener, more sustainable industries. Yet in this race, Southeast Asia can build a lot more momentum to seize the opportunity." Currently, there is a gap between where Southeast Asia is compared to other regions in their green initiatives. This gap presents a threat to Southeast Asia's global competitiveness but also creates immense opportunities for the region. "Adopting green practices will meet the region's wider environmental, social and governance (ESG) ambitions and in turn deliver societal benefits such as preservation of the earth's natural ecosystems and social inclusivity—ends in themselves that also underpin increased growth," explained Dale Hardcastle, Co-Director of Bain's Global Sustainability Innovation Center in Singapore and also co-author of the report. "By unlocking the green economy, the economic growth of a wide range of sectors in the region would immediately follow." Southeast Asia has pathways across industries that can unlock the trillion-dollar potential of the green economy. Together they illustrate the areas where Southeast Asia can be a global leader: Sustainable energy and resources: Where excessive resource extraction and energy consumption followed by waste mismanagement were the norm, the region could benefit from a USD270 billion opportunity as it embarks on decarbonization and electrification, a sustainable energy transition, responsible consumption and embedded circularity. Healthy and sustainable food systems: Where agricultural growth has typically been inefficient and wasteful, Southeast Asia has the potential to innovate and increase production in a regenerative and conscious manner that will make nutrition widely accessible. This represents an USD205 billion opportunity for the region. Efficient industrial operations and logistics: As industrial activity in Southeast Asia expands due to geopolitical shifts, manufacturing processes can be reimagined and supply chains connected and made transparent with full traceability. The region can help ensure low carbon footprint and capture an USD200 billion opportunity while doing so. Green and connected cities: As urban populations grow, the way is clear to build affordable green homes in satellite settlements connected by green public transportation, representing an USD185 billion opportunity in Southeast Asia. Green financing and liquid carbon markets: While sustainable initiatives have struggled for financing and carbon-offset revenues have gone to waste, Southeast Asia can take the lead in green financing be a home for a liquid carbon market where incentives to reduce emissions can be part of the prescription. "Bain's decision to establish its GSIC in Singapore will strengthen our sustainability ecosystem, and help companies here and across the region capture green growth opportunities," said Dawn Lim, Vice-President and Head of Commercial and Professional Services, EDB. "As demand for sustainability services continues to grow, we look forward to working with Bain and other like-minded companies to create new business and job opportunities in areas such as clean energy, green infrastructure and buildings, as well as low-carbon technologies." "The launch of the GSIC is a landmark step in championing sustainability for us at Bain, and we are thrilled to have received the support of many industry leaders, especially Singapore's Economic Development Board," commented Satish Shankar, Managing Partner, Asia-Pacific, Bain & Company. "We believe that Southeast Asia has the potential to lead sustainability transformation efforts across the world, and we are committed to seeing this through for a better, greener world." Related Links :https://www.bain.com/
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Peer-to-Peer lending platform Rai Capital announces its launch in Cambodia, filling the gap for flexible local financing solutions
Rai Capital and Goldbell Financial Services set up the joint venture to promote financial inclusion in Cambodia's P2P lending spaceSINGAPORE, Nov. 26, 2020 /PRNewswire/ -- Recently established peer-to-peer (P2P) lending marketplace, Rai Capital, today announced its official launch in Cambodia. Licensed and regulated by the Securities and Exchange Commission of Cambodia (SECC), Rai Capital is a joint venture with Goldbell Financial Services. It is designed for micro-entrepreneurs and individuals to promote financial inclusion in the country -- enabling the local business and small and medium enterprises community the ease of access to credit or investments. Recognising the emerging gap in the lending market for proper and convenient access to financing in Cambodia, FinTech veterans Eddie Lee, Co-Founder and CEO, and Alex Chua, Co-Founder, founded Rai Capital in 2018. Accessible via a mobile app, the Rai Capital platform eliminates the need for borrowers to travel long distances they previously had to, in order to obtain financing from the banks or financial institutions. Being a marketplace platform, Rai Capital is able to onboard suitable investors around the region such as accredited or corporate investors and financial institutions outside of Cambodia. Speaking on the launch of the platform, Eddie Lee, Co-Founder and CEO of Rai Capital, said, "We founded the company seeing the opportunity to plug into the financing gap in Cambodia. We noticed the lack of financial inclusion due to the scarcity of financiers, a huge pool of SMEs and micro SMEs who are unable to tap the support offered by banks or financial institutions, as well as the physical barriers borrowers face when obtaining financing -- having to take hours or up to a day to travel from rural areas to the city-state, just to spend a few more weeks waiting for the loan application to be approved. Rai Capital was born out of seeing that struggle. Over the years, Singapore has taken the lead in becoming the hub for innovative FinTech technologies. We are playing our part to take FinTech into ASEAN starting with Cambodia." Micro, Small and Medium Enterprises (MSMEs) account for 99 per cent of the total businesses in Cambodia, with most businesses being micro enterprises with less than ten employees, according to The United Nations Economic and Social Commission for Asia and the Pacific [1]. While P2P lending or other alternative financing is not an entirely new concept in Southeast Asia, Cambodia still has a void to fill for such services -- with 66 per cent of MSMEs facing challenges in access to working capital, according to the same report. One of the potential platform investors of Rai Capital, Alicia Lim, Director of Cambodia-based Himawari Hotel Apartments, commented, "Rai Capital is setting out to build the modern-age, crowdlending platform for small enterprises in Cambodia. We believe that the innovation will bring excitement to the local lending market. With Rai Capital leveraging on technology and reducing the geographical barrier, I believe many of our existing suppliers will stand to gain from a platform like this." The firm is on the lookout for potential partners, and is currently in talks with local payment providers in Cambodia. The Rai Capital app is currently available for download on Android, and on iOS come mid-December. For more information, please visit www.rai.capital. [1] The United Nations Economic and Social Commission for Asia and the Pacific, MSMEs Access to Finance in Cambodia About Rai Capital Rai Capital is Cambodia's pioneering peer-to-peer (P2P) lending marketplace designed for micro entrepreneurs and individuals to promote financial inclusion. Through the Rai Capital app, the local community is enabled access to credit or investments, with attractive returns. Headquartered in Singapore, the firm is a joint venture between Co-Founder Eddie Lee and Goldbell Financial Services, one of Singapore's leading non-bank business finance providers. For media enquiries, please contact: Asia PR Werkz Lydia Chin+65 8299 0137lydia@asiaprwerkz.comRelated Links :http://www.rai.capital
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MetroResidences launches Residential Rentals, rolling out over 1,000 apartments for long-term leases
New property inventory enables tenants in Singapore and Japan to search for their ideal home in popular neighbourhoodsSINGAPORE, Nov. 26, 2020 /PRNewswire/ -- MetroResidences today announced the launch of Residential Rentals - a new category of property inventory for long-term leases in Singapore and Japan. Complementing the serviced apartment listings offered on its platform, Residential Rentals features recently constructed residential buildings with an array of apartments available for annual leases. Quality apartments from over 280 residential buildings in prime districts across Singapore and Tokyo, Japan, are available for long-term rental on the MetroResidences platform. Launching with 15 major districts in Singapore and Tokyo, Residential Rentals addresses the accommodation needs of individuals and families looking for affordable yet high-quality apartments in the cities' popular neighbourhoods. Locations include Tanjong Pagar and Redhill in Singapore; Azabu Juban and Ginza in Tokyo, Japan. Over 1,000 units from 280 residential buildings are available to lease. "With the COVID-19 pandemic bringing global travel to a halt, majority of our accommodation enquiries have shifted from business travellers booking mid-term stays, to expats and local residents looking for long-term rental options," says Lester Kang, Co-Founder, MetroResidences. "Residential Rentals is created to meet the shift in our consumer profiles and we aim to grow this inventory to 15,000 units by the end of 2021." Apartments are available in partially-furnished or unfurnished condition, with sizes ranging from studio to 5-bedrooms units. Residential Rentals is a major step to digitise the traditional property leasing model by simplifying the apartment leasing experience. Tapping on the stay-home economy, the platform offers detailed information of every property, including neighbourhood descriptions, floor plans and unit photos to allow users to perform most of the leasing tasks online. "MetroResidences recognises the importance of keeping up with the changing market demands. The introduction of Residential Rentals in Singapore and Japan strengthens our value proposition as a holistic accommodation provider as we progressively expand our operations and product offerings to the tenant network," says James Chua, Co-Founder, MetroResidences. For more information on property listings, visithttps://www.metroresidences.com/sg/apartment-rental for Singapore properties;https://www.metroresidences.com/jp-en/apartment-rental for Japan properties. About MetroResidences MetroResidences is Asia Pacific's leading residential and hospitality platform dedicated to simplifying leasing through its property management and listing service. With a vision to redefine city-living for the current generation, MetroResidences offers a variety of accommodation types, allowing every individual to find a home of exceptional value. As of 2020, the platform offers more than 4,000 property listings for lease comprising residential apartments, serviced apartments, hotels and everything else in-between. The company was incorporated in 2015, headquartered in Singapore and operates out of Singapore, Japan, Hong Kong, Malaysia, and Australia. Related Links :https://www.metroresidences.com
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Symonite Solutions Creates Hi-Tech Panelised Facade Systems
Modular facade solutions designed to drastically reduce installation time and save moneyAUCKLAND, New Zealand, Nov. 26, 2020 /PRNewswire/ -- Symonite Solutions is a hi-tech design, fabrication and installation business that started working in modernising facade systems, specifically for the New Zealand market. Already present in the market of complex facades for 20 years, it created solutions for multi-storey residential and commercial building needs: https://www.symonitesolutions.co.nz/products/ Symonite Solutions Creates Hi-Tech Panelised Facade Systems General manager, Stijn Van den Eeden, has been in the business for over 25 years, and explains the advantages as follows: "It is an immense opportunity for almost any developer, contractor or designer to replace the traditional, slow and defect-prone facade solutions for an alternative that is better performing, faster and in many cases also cheaper. By working modular we can reduce the installation time on site with several months on multi-storey residential and commercial buildings. The steel-framed frames are coming in typical sizes up to 10m long and 3.5m high. " Available solutions consist of confined, floating and overcladding systems - Wide range of cladding options- Different joinery solutions - Array of add-ons such as louvers, juliette balconies, etc. Stijn Van den Eeden highlights, "By liaising with overseas suppliers, we have been able to tap into existing knowledge and experience and its exactly that proprietary IP that has allowed us to offer all the advantages at a great price. From our side, we have had to invest in testing, training and development, but that is finally paying off. The scope for the use of these systems are building with minimum 4-5 storeys, rectangular shaped or with balconies, for both commercial and residential use. " For more information, visit www.symonitesolutions.co.nz. Related Links :http://www.symonitesolutions.co.nz
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Mittleman Brothers Releases Presentation Noting Concerns about Proposed BGH Capital-led Management Buy-Out of Village Roadshow Ltd.
NEW YORK, Nov. 26, 2020 /PRNewswire/ -- Mittleman Investment Management, LLC ("Mittleman Brothers" or "we"), an SEC-registered investment advisor, through its managed accounts, and its parent company, Aimia Inc. (TSX: AIM), combined represent the 2nd largest shareholding of Village Roadshow Ltd. ("VRL" or "the Company") (ASX: VRL) with a 15.1% stake as of November 25, 2020. Mittleman Brothers today posted a presentation on its website which describes the concerns we have regarding the currently proposed takeover of Village Roadshow by BGH Capital in partnership with Village Roadshow's controlling shareholders. We believe these concerns should be addressed by the Company so that a fully informed shareholder vote can occur at the virtual meeting to be held on December 7, 2020. The current A$2.95 to A$3.00 range of best outcomes provided still appears unfairly low versus our estimate of indicative fair value which is currently A$5.24 per share and described in more detail in the presentation. We are currently evaluating the new offer and awaiting further information before we determine how we intend to vote our shares. The presentation is available at this link: http://www.mittlemanbrothers.com/wp-content/uploads/2020/11/Village-Roadshow-Beyond-COVID-19-Presentation.pdf NON-SOLICITATION This communication is not a solicitation of a proxy from any investor or shareholder. This communication is not intended to, and does not, constitute or form part of (1) any offer or invitation to purchase or otherwise acquire, subscribe for, tender, exchange, sell or otherwise dispose of any securities, (2) the solicitation of an offer or invitation to purchase or otherwise acquire, subscribe for, sell or otherwise dispose of any securities or (3) the solicitation of any vote or approval in any jurisdiction pursuant to this communication or otherwise, nor will there be any acquisition or disposition of the securities referred to in this communication in any jurisdiction in contravention of applicable law or regulation. About MITTLEMAN BROTHERS: Mittleman Brothers (i.e. Mittleman Investment Management, LLC) is an SEC-registered investment advisor that provides discretionary portfolio management for high net worth individuals and institutions. The Firm's value-oriented strategy is to invest in a concentrated portfolio of primarily common stocks, unrestricted as to market capitalization, of both domestic and international companies. The Firm pursues superior returns through long-term investments in those securities it deems to be significantly undervalued. For more information on the firm and its services, please visit our website at www.mittlemanbrothers.com or contact Evan Newman at 212.217.2340 About AIMIA: Aimia Inc. (TSX: AIM) is an investment holding company with a focus on long-term investments in public and private companies, on a global basis, through controlling or minority stakes. The company operates an investment advisory business through its wholly-owned subsidiary, Mittleman Investment Management, LLC, and owns a diversified portfolio of valuable investments including a 48.9% equity stake in PLM Premier, S.A.P.I. de C.V. (PLM), owner and operator of Club Premier, the coalition loyalty program in Mexico that operates the Aeromexico Frequent Flyer program, a 49.3% equity stake in Kognitiv, a B2B technology and services company with a collaborative commerce technology platform, a 20.0% equity stake in BIGLIFE, the operator of BIG Loyalty, one of the largest loyalty programs across Asia, a 10.85% stake in Clear Media Limited (100.HK), one of the largest outdoor advertising firms in China, as well as minority stakes in JCDecaux (DEC.FP), the global leader in outdoor advertising, and Village Roadshow (VRL.AU), a leading entertainment company in Australia.Related Links :http://www.mittlemanbrothers.com
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ASB: LESA 2020 Brings Together A Unique Blend of Captains of Industry, Government Leaders, and Intellectual Powerhouses
Virtual conference attended by 8,000+ participants brings together a rare line-up of leaders from industry, government, and academia discussing how to navigate a post-pandemic world KUALA LUMPUR, Malaysia, Nov. 26, 2020 /PRNewswire/ -- From 16 to 19 November, over 8,000 leaders from Asia and beyond gathered virtually for the Leadership Energy Summit Asia (LESA) 2020, organized by the Asia School of Business (ASB) Iclif Executive Education Center. The virtual summit, themed "Navigating Uncertainty with Leadership Energy In Action", brought together a prolific and A-list speaker line-up, including 2019 Nobel laureate Esther Duflo, Tan Sri Dr. Jemilah Mahmood, Founder of MERCY Malaysia and Special Advisor to Prime Minister of Malaysia, Aireen Omar, Group President of RedBeat Ventures and AirAsia, and academic powerhouses from Massachusetts Institute of Technology (MIT) and ASB who shared their ground-breaking research and insight. From Duflo, who shared her Nobel-winning approach of alleviating global poverty, to Tan Sri Dr. Mahmood, who extracted learnings from her experience in humanitarian crises to advise Malaysia's government on the current pandemic, to John Sterman, Professor of Management at MIT Sloan School of Management, who argued for a multi-solving approach to tackling both COVID-19 and climate change, each speaker brought unique and diverse perspectives on tackling today's challenges. "Most people try to find one solution that will solve all the problems at once. But it is hard to make progress with a single hammer for all the problems. You make progress by breaking down problems into thousands of much more manageable problems," said Duflo during her keynote. Said Sterman, "As humans, we are not good at dealing with complex systems with time delays before effects are felt. This makes it hard to drive behavioral changes for things like climate action and COVID-19. Knowledge is the solution. There is hope." Professor of Applied Economics Roberto Rigobon highlighted one of the key criterions to address today's crisis, drawing on his research of countries that have transformed from poverty to wealth: "Tackling challenges is hard. Leaders need to have a vision that is so compelling that workers and citizens buy into it and are willing to make personal sacrifices for the public good." Despite the virtual event format, participants were impressed by the summit experience. Feedback from participants included the following: "My observation is that this has proven to be a very successful summit from all angles - record level of participation, country reach, quality of content, diversity and consistently impressive role-players. Truly world-class." - Datuk Nora A. Manaf, Group Chief Human Capital Officer, Maybank. "I never knew learning from Professors could be so exciting – Prof. Roberto Rigobon was humorous and practical, Prof. Loredana Padurean was so interesting from start to finish. I'm impressed by how colorful and diverse the professors are at MIT and ASB, and enjoyed the conference very much!" - Datin Mornifairos Bt Othman, Executive Vice President, People Leader at Maybank. "We truly enjoyed tuning in to the breadth of the topics presented at LESA 2020, listening to the insights and approaches presented each speaker. The summit has also successfully enabled rich conversation among the participants and presenters. Kudos." - Ahmad Zakky Habibie, Executive Director, Ancora Foundation. Other summit highlights included a series of Masterclasses, sponsored by Sarawak Energy on topics such as: "The Strategic Intra/Entrepreneurial Organization", "The Dollar, the Renminbi, and the International Monetary System", and "Storytelling for Leaders". Meanwhile, The Iclif Leadership Energy Awards (ILEA), sponsored by Maybank, paid tribute to individuals using their "Leadership Energy in Action" to make a positive impact. Award winners were: Dian Sasmita, Founder of Sahabat Kapas (Indonesia), for advocating against violence towards juvenile prisoners, Marita Cheng, Founder of Robogals (Australia), for supporting and inspiring women to pursue careers in STEM, and Dr. Tamana Asey, Program Director of Afghanistan Forensic Science Organization, for championing women's and girl's rights by standing against virginity testing. "We are proud that LESA 2020 has served as a platform to address the critical challenges today's leaders face," said Prof. Charles Fine, founding President and Dean, ASB. "And we are incredibly grateful to our sponsors who have made this event a reality - their support was critical in helping ASB reach such a global audience. We want to extend special thanks to Maybank, Sarawak Energy, CX Technology, Lawrence S. Ting Foundation, and Ancora Foundation, for showing us through their partnership what leadership energy looks like in action." About Asia School of Business Asia School of Business (ASB) was established in 2015 by Bank Negara Malaysia in collaboration with MIT Sloan School of Management to be a premier global business school, a knowledge and learning hub infused with regional expertise, insights and perspectives of Asia and the emerging economies. ASB's Iclif Executive Education Center executive education programs and degree programs have been globally-acclaimed for leading the way in management education. Through its award-winning Action Learning based curriculum, in partnership with the corporate community and students from across the world, ASB is committed to developing transformative and principled leaders who will contribute towards advancing the emerging world.
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Tricor wins "Best SME's Partner Award 2020" in recognition of its dedication and support to SMEs in Hong Kong
Asia's leading business expansion specialist honoured at one of the most prestigious business awards in the region HONG KONG, Nov. 26, 2020 /PRNewswire/ -- Tricor has received the "Best SME's Partner Award 2020" by the Hong Kong General Chamber of Small and Medium Business ("HKGCSMB"), a prominent local trade association established to represent and protect the interests of small and medium-sized businesses ("SMEs") in Hong Kong. This is the first time Tricor has won the coveted accolade, which recognizes Tricor's long-standing commitment in providing a comprehensive range of products and services to facilitate the development of local SMEs. Ms. Gloria Lee, Director, Director of Tricor Alpha, A Tricor Company, received the award on behalf of Tricor Hong Kong at the award presentation ceremony held on 17th November, 2020. Mr. Joe Wan, CEO of Tricor Hong Kong, said, "The past year has brought with it a host of new challenges for businesses in Hong Kong. Being the go-to partner for SMEs, Tricor is committed to supporting their business operation and enhancing their competitiveness through this difficult time. By doing so, we aim to promote healthy economic growth and create shared value for the Hong Kong community at large." Ms. Gloria Lee, Director of Tricor Alpha, A Tricor Company, said, "It is a great honour for Tricor to have been chosen as winner of the Best SME's Partner Award. With deep roots in Hong Kong, we will continue to provide effective solutions to best serve the needs of local SMEs and help them stay one step ahead in today's ever-changing business environment." First launched in 2006, the "Best SME's Partner Award" was first organised by HKGCSMB to celebrate companies that have made contributions in supporting the business operations and development of local SMEs, and identify successful models to spearhead Hong Kong's continued growth and competitiveness. Winners were selected by a judging panel comprising government officials, business leaders and academic representative. About Tricor Founded in 2000, Tricor Services Limited has been the leading business expansion specialist in Asia. Our team of 700+ professionals serves over 10,000 clients across multiple industries, including more than 50% of listed companies and family offices, from Hong Kong and Mainland China in full strength. Tricor Services Limited's business expansion solutions include integrated business management advisory, corporate administration and secretarial services, trust and fiduciary services, and human resource consultation. Tricor Inside, our unique approach to business expansion, empowers companies to seamlessly maneuver from start-up to IPO and beyond. Take your first step towards business success with Tricor. Join the industry leaders, and get to know more at www.tricorglobal.com. Related Links :http://www.tricorglobal.com
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Habanos, S.A. Has Presented the World Premiere Of H. Upmann Connossieur No.2 in Berlin
- Fifth Avenue Products Trading-GmbH, the exclusive distributor of Habanos for Germany, Austria and Poland, presented this launch at an event that combines a face-to-face format with virtual attendance - H. Upmann Connossieur No.2 (51 ring gauge and 134 mm length) incorporates the 51 ring gauge into the portfolio of the brand and Habanos, S.A. for the first time HAVANA, Nov. 25, 2020 /PRNewswire/ -- Habanos, S.A., through its exclusive distributor for Germany, Austria and Poland, Fifth Avenue Products Trading-GmbH, has presented the new vitola H. Upmann Connossieur No.2 (51 ring gauge and 134 mm length) for the first time in a world premiere. To view the Multimedia News Release, please click: https://www.multivu.com/players/uk/8821051-habanos-premiere-h-upmann-connossieur/ This launch is has been presented in a natural wood sliding box with glassine paper and Sandra ribbon and consists of 25 cigars made "Totalmente a Mano con Tripa Larga"- Totally Handmade with Long Filler-, following a careful selection of the wrapper, filler and capote leaves from the Vuelta Abajo* region, where the considered world's best tobacco is grown. With this new vitola, H. Upmann is incorporating the 51 ring gauge into the brand for the first time, as well as into the Habanos, S.A. portfolio. This Habano with its similar format and light strength, joins the standard portfolio to enrich the Línea Connossieur* which has achieved great success and recognition within the brand. The presentation of H. Upmann Connossieur No.2 took at the Sage restaurant, located in a restored post-industrial building in the city of Berlin, by the river Spree. This has been a hybrid event that combined the interviews and tastings in the face-to-face format, with a virtual element where virtual attendees were able to interact with those present by asking questions, sending voice messages or through the group chat. There has been a total of 350 online attendees. Through this event, attendees had the opportunity to participate simultaneously in the first exclusive tastings of the new H. Upmann Connossieur No. 2. Each participant was given a "welcome pack" which includeed an H. Upmann Connossieur No.2 in a tube, matches, cigar cutters, miniature ZIEGLER drinks, chocolate from the German brand Sabine Dubenkropp and information on the launch. H. Upmann is one of the oldest brands of Habanos. It was created in 1844 by the Upmann brothers, who have managed to keep their brand alive until today, being considered an example among the most refined Habanos with a light to medium strength. Quality is one of the brand's most characteristic elements, demonstrated by the gold medals that adorn its image, obtained by the brand in no less than eleven international fairs during the 19th century. Fifth Avenue Products Trading-GmbH is the official distributor of Habanos, S.A. for Germany, Austria and Poland. Together with Habanos, S.A. in 1989, Heinrich Villiger founded the world's first joint venture for the exclusive import and distribution of Habanos cigars. Today, sells all 27 brands of the Habanos portfolio. *(P.A.O.) Protected Appellations of Origin Photo - https://mma.prnasia.com/media2/1342583/h_upmann_connossieur_no2.jpg?p=medium600 Carla LladoTel: +34-93-201-10-28press.habanos@yr.com The new vitola H. Upmann Connossieur No.2 (51 ring gauge and 134 mm length) Related Links :https://www.habanoscigares.com/
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China-Singapore (Chongqing) Connectivity Initiative Financial Summit 2020: Enhancing Financial Connectivity, Contributing to and Sharing Benefits of t
CHONGQING, China, Nov. 25, 2020 /PRNewswire/ -- On the afternoon of November 23, 2020, China-Singapore (Chongqing) Connectivity Initiative Financial Summit 2020 (CCIFS) kicked off in Chongqing and Singapore. On the theme of "Enhancing Financial Connectivity, Contributing to and Sharing Benefits of the CCI-ILSTC", the summit provided both online and offline platforms for nearly 200 financial elites from China, Singapore and ASEAN countries to share their insights into cross-border financial cooperation, green finance, financial technology, digital economy, and the outlook on the cooperation among countries in East Asia on market opening-up, digital economy development, financial connectivity enhancement, and response to climate change. China-Singapore (Chongqing) Connectivity Initiative Financial Summit 2020 (CCIFS) kicked off in Chongqing and Singapore Tang Liangzhi, Vice Secretary General of CPC Chongqing Committee and Mayor of the Chongqing Municipal People's Government delivered a speech at the summit. He noted that, over the past few years, relying on China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI), it has made great effort to advance "point to point" financial cooperation with Singapore and facilitated the "face to face" connectivity between western China and ASEAN countries, so as to build an international financial centre in western inland China with ASEAN countries in its orbit. CCIFS is not only a landmark project of CCI, but also an international platform that facilitates the financial exchanges and cooperation between western China and ASEAN countries. Mayor Tang also expressed his sincere hope of working with friends from Chinese and international financial sectors to seize on this opportunity to reach the comprehensive regional economic partnership agreements, so as to deepen the cooperation, jointly develop Chongqing into an international financial centre in inland China, built the New International Land-Sea Trade Corridor (ILSTC) through extensive consultation and promote the CCI to obtain substantial results. Josephine Teo, the Minister for Manpower and the Second Minister for Home Affairs of Singapore, delivered a speech on the opening ceremony. She noted that both China and ASEAN boast solid economic growth, and we hope to take this summit as an opportunity to deepen our cooperation on financial connectivity, and work together to explore and develop ILSTC, so as to release the potential of regional economic development.
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MINISO accelerates expansion in Europe and global markets
GUANGZHOU, China, Nov. 25, 2020 /PRNewswire/ -- Lifestyle product retailer MINISO opened its 100th post-IPO physical store this November, signaling a market expansion streak amidst industry-wide scale back and closings. The opening in Madrid is the fourth in Spain this month alone, and it is bolstered by a flurry of other European and global ribbon-cuttings numbering over 100 since the brand's IPO in mid-October. Additional store openings are planned before the end of the year. "We aim to open even more new stores across Europe in the near future," said Vincent Huang, International Business Vice President, MINISO. "We look forward to welcoming customers in London, Hungary, Iceland and Italy soon, pending the course of the pandemic." 100th new store since IPO opens in Madrid, Spain Spain is one of MINISO's most rapidly expanding markets, with 16 stores across major cities such as Barcelona, Sevilla, Malaga, Granada. The new location in Madrid marks the 100th new store for MINISO since its IPO in mid-October, while the brand's most recent opening was November 14 in the Canary Islands. Spanish singer Soraya Arnelas (INS: @soraya82) kicked off the festivities at the Madrid store, opening the doors right in the heart of the posh Salamanca district. Opening day customers had the chance to interact with Soraya, and also enjoyed a shopping experience without lavish spending in the traditionally luxury shopping zone in Conde Peñalver, as 80% of MINISO's products are priced lower than 10 euros. In its first week of sales, the store achieved impressive sales performance - boosting franchiser's and even the local economy's confidence in consumer spending. Grand opening celebrations in Madrid, Spain, at MINISO’s 100th new store since its October IPO While some industry reports indicate a potential 25% drop in in-store holiday shopping traffic this year, MINISO franchisers believe the wide variety of highly designed goods at affordable prices will be a draw. Ana Rivera, the General Manager of MINISO's exclusive franchiser in Spain, said they plan to open a new store in Melilla, another Spanish autonomous territory on the northwest coast of Africa, by the end of November. "Adding a fashionable and affordable retail brand to these popular commercial areas boosts the area economy both for local customers and returning tourists," said Ana Rivera. "MINISO is the right type of retailer to bring back business to our beaches." Across Europe, retail format and franchisor model instills confidence Many of MINISO's European franchisers are renowned operators in the retail industry and are eager for continued expansion in their respective markets. For example, one of MINISO's business partners, Michiel Witteveen, the CEO of the Mirage Retail Group, said the company plans to open a new store soon, which would be the 3rd location in the Netherlands, adding to their existing footprint in Eindhoven and Utrecht. Mirage Retail Group owns more than 800 stores from various successful brands such as Blokker, Big Bazar and Intertoys – so Witteveen knows what makes brands thrive. "MINISO is not comparable to any other store format in the Netherlands. It has a frequently changing range of high-quality design items and a very attractive price," said Witteveen, explaining one of the reasons why franchisers are so eager to introduce MINISO locally. The particular format highlighted by Witteveen refers to MINISO's unique '7-11' philosophy, which means that 100 new products are selected from among 10,000 samples to be released every 7 days. The '7-11' philosophy aims to stoke fast innovation and consistent product upgrades, and to seed customer store re-visits and re-purchasing due to curiosity about the new products. China and international markets are rebounding rapidly MINISO set a record pace in its home market, China, by opening 54 stores on the same day on October 1, which is the first day of China's Golden Week – a week-long national holiday that represents one of the biggest weeks for retail and tourism. The timing was also ahead of China's biggest shopping festival known as Double 11 or Singles' Day. MINISO HQ also directly operates a number of stores across Asia, Africa and the United States – opening more than 20 stores collectively across these regions since October. Notable openings include the 39th store in Los Angeles, United States, and one in the iconic Pacific Mall in New Delhi, India. According to Vincent Huang, MINISO plans to open a new store in a top tourist destination in Indonesia before Christmas. About MINISO MINISO (NYSE: MNSO) is a lifestyle product retailer, offering high quality household goods, cosmetics and food at affordable prices. Since opening its first store in Guangzhou in 2013, MINISO has opened more than 4,200 stores in over 80 countries and regions in just 7 years. With a focus on sleek design and fun trends, its mission is to assure through its products that a better life has nothing to do with the price.
