Everest Medicines Announces Acceptance of VELSIPITY New Drug Application in Hong Kong

SHANGHAI, Dec 2, 2024 - (ACN Newswire via SeaPRwire.com) - Everest Medicines (HKEX 1952.HK, "Everest", or the "Company"), a biopharmaceutical company focused on the discovery, clinical development, manufacturing and commercialization of innovative therapeutics, today announced that Department of Health of the Government of the Hong Kong Special Administrative Region, China, has accepted Everest’s New Drug Application (NDA) for VELSIPITY(R) (etrasimod) for the treatment of adult patients with moderately to severely active ulcerative colitis.  VELSIPITY(R) is an effective and convenient, once-daily, oral treatment for patients with moderately-to-severely active UC that has already been approved in the U.S. and E.U., and other countries, by Everest’s licensing partner, Pfizer. In Everest territories, the Pharmaceutical Administration Bureau of the Macau Special Administrative Region, China has approved the NDA for VELSIPITY(R) in April of this year and was implemented in the Guangdong-Hong Kong-Macau Greater Bay Area this October through the "Hong Kong and Macau Medicine and Equipment Connect" policy."Autoimmune disease is a core focus and a significant growth driver for our company. The number of UC patients in China is projected to double from 2019 to 2030 to approximately one million, highlighting the urgent need for novel treatments." said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. “Previously, VELSIPITY(R) has already been approved in Macau, China, and was implemented in the Greater Bay Area through the connect policy. The company also plans to submit the NDA for approval by China’s National Medical Products Administration (NMPA) this year, with the aim of benefiting more Chinese patients as soon as possible."" This is an important advancement for etrasimod, bringing hope to patients in Hong Kong, China. This new-generation S1P receptor modulator is an oral, once-daily treatment that can provide patients with a chance for corticosteroid-free remission, mucosal healing, and rapid symptom relief, " said Prof. Wu Kaichun with the First Affiliated Hospital of AFMU who is the principal investigator for etrasimod’s Asia clinical trial. “We hope China and other Asian countries can obtain approvals as soon as possible to benefit more patients."The acceptance of the NDA was based on results from the ELEVATE UC Phase 3 registrational program (ELEVATE UC 52 and ELEVATE UC 12) that evaluated the safety and efficacy of etrasimod 2 mg once-daily on clinical remission in UC patients with moderately to severely active UC who had previously failed or were intolerant to at least one conventional, biologic, or Janus kinase (JAK) inhibitor therapy. Nearly two-thirds of patients in ELEVATE UC 52 and ELEVATE UC 12 were naïve to biologic or JAK inhibitor therapy, and these studies were also the only studies for advanced therapies for ulcerative colitis to include patients with isolated proctitis. Both studies achieved all primary and key secondary efficacy endpoints, with a favorable safety profile consistent with previous studies of etrasimod.Everest conducted a multicenter, randomized, double-blind and placebo-controlled Phase 3 trial of etrasimod in Asian countries, including mainland China, China Taiwan and South Korea. This is the largest Phase 3 trial of moderately-to-severely active ulcerative colitis in Asia completed to date, with 340 eligible subjects randomized to treatment with etrasimod or placebo. The previously announced results of the induction period indicate that the clinical remission rate for patients treated with etrasimod 2mg was 25.0%, compared to 5.4% for those treated with placebo (difference 20.4%, p<0.0001). Compared to the placebo group, patients treated with etrasimod demonstrated significant clinical and statistically significant improvements in all key secondary endpoints. Subsequently, the topline results from maintenance period released in July of this year confirmed that after 40 weeks of treatment, etrasimod demonstrated significant clinical and statistical improvements over placebo in the primary and all key secondary endpoints (p<0.0001), and other secondary endpoints (including mucosal healing and endoscopic normalization, both p<0.0001). The safety profile of etrasimod was consistent with previous studies, with no new safety signals observed. The results of the maintenance period will be released at an international academic conference.About VELSIPITY(R) (etrasimod)VELSIPITY(R) is a once-daily, oral, sphingosine 1-phosphate (S1P) receptor modulator that selectively binds with S1P receptor subtypes 1, 4, and 5. Regulatory approvals have been granted in US, EU, Canada, Australia, Singapore, UK, Switzerland, Israel and Macau, China for VELSIPITY(R) in ulcerative colitis.About Everest MedicinesEverest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing transformative pharmaceutical products and vaccines that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record from both leading global pharmaceutical companies and local Chinese pharmaceutical companies in high-quality discovery, clinical development, regulatory affairs, CMC, business development and operations. Everest Medicines has built a portfolio of potentially global first-in-class or best-in-class molecules in the company’s core therapeutic areas of renal diseases, infectious diseases and autoimmune disorders. For more information, please visit its website at www.everestmedicines.com.Forward-Looking Statements:This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law. Copyright 2024 ACN Newswire via SeaPRwire.com.

China Medical System Gained Exclusive Commercialization Right of Class 1 Innovative Drug Targeting Gout and Hyperuricemia

SHENZHEN, CHINA, Dec 2, 2024 - (ACN Newswire via SeaPRwire.com) - China Medical System Holdings Limited (the “Company”, together with its subsidiaries, the “Group” or “CMS”) is pleased to announce that on 2 December 2024, the Group through a wholly-owned subsidiary of the Company entered into an Exclusive Commercialization Agreement (the “Agreement”) with Atom Therapeutics Co., Ltd (hereinafter referred to as “Atom Therapeutics”, formerly named as “Jiangsu Atom Bioscience and Pharmaceutical Co., Ltd.”) of class 1 innovative drug ABP-671 for the treatment of gout and hyperuricemia (the “Product”). In accordance with the Agreement, the Group is entitled to an exclusive commercialization right of the Product in Mainland China, Hong Kong Special Administrative Region and Macao Special Administrative Region. The term of cooperation commences on the effective date of the Agreement and extends for ten years from the date the Product is first approved for market launch in Mainland China (the "Authorization Term"). Upon the expiration of the Authorization Term, it may be automatically renewed for an additional ten years, subject to specific conditions stipulated in the Agreement.ABP-671 is a class 1 innovative chemotherapeutic drug for the treatment of gout and hyperuricemia, currently in Phase 2b/3 clinical trials for gout in China and overseas. The Product reduces renal re-absorption of uric acid by inhibiting Urate Anion Transporter 1 (URAT1). The results of two completed phase 2 clinical trials demonstrated favorable efficacy and safety profiles across multiple dose groups (ranging from 1 mg to 12 mg) of ABP-671. The 2 mg once-daily dosage of the Product was proved to be as effective as, or even better than, benzbromarone or febuxostat (maximum dosage of 80mg). The reduction in uric acid levels was sustained throughout the 24-hour period, with no significant safety concerns identified. This product is anticipated to offer more effective and safer treatment alternatives for patients suffering from gout and hyperuricemia[1]. Multiple patents in regard to substance and use of the ABP-671 have been granted in China.Hyperuricemia is defined as a fasting blood uric acid level exceeding 420μmol/L (7.0 mg/dL) in adults on a normal purine diet on two separate days. The deposition of urate crystals in hyperuricemia patient results in arthritis, medically termed gout. Hyperuricemia and gout can cause acute and chronic inflammatory injury in articular cartilage, bone, kidney and vascular wall, which can lead to multiple organ damage of the heart, brain and kidney, etc. The data presented in the White Paper on Hyperuric Acid and Gout Trends in China (2021) indicates that, the incidence rate of hyperuricemia is 13.3%, with approximately 177 million hyperuricemia patients and the incidence rate of gout is 1.1% in general, with about 14.66 million gout patients in China. Frost & Sullivan indicates that, the number of people with hyperuricemia and gout in China will continue to increase in the future, reaching 240 million and 52.2 million respectively by 2030. Currently, the commonly used uric acid-lowering drugs in clinical practice in China are those which inhibit uric acid synthesis or promote uric acid excretion. Due to certain limitations in the efficacy and safety of the marketed uric acid-lowering drugs, such as causing renal failure, sudden cardiac death or severe liver toxicity. There is still an urgent need for effective and safe uric acid-lowering drugs among gout and hyperuricemia patients in China.ABP-671 is currently with the potential to be the promising and safe product for the treatment of gout and hyperuricemia. Through this collaboration, it fills the blank in the CMS's product portfolio of the treatment of gout. Gout and hyperuricemia are both rheumatic diseases and chronic metabolic diseases, which are highly consistent with the Group's strategic layout in the cardio-cerebrovascular/ gastroenterology business and the network resources of marketed products. If approved for marketing in the future, the Product will synergize with the Group’s marketed product Metoject (methotrexate injection) in rheumatology and with Elcitonin (elcatonin injection) in endocrinology and orthopedics, in terms of expert network and market resources. Based on the unmet clinical needs and the expected solid clinical data of the Product, the Group is looking forward to the smooth advancement of the clinical development of ABP-671, allowing patients with relevant indications to benefit from this innovative treatment sooner.About ATOM THERAPEUTICSAtom Therapeutics was founded in March 2012, focused on the research and development of innovative drugs with global commercial value and competitiveness in the metabolic and inflammatory area. Atom Therapeutics's main core team members come from the United States, with extensive experience in the research and development of innovative drugs. Atom Therapeutics has achieved remarkable development in the past few years. Atom Therapeutics's core product ABP-671 is under pivotal clinical stage for the treatment of chronic gout. Atom Therapeutics's another small molecule innovative drug named as ABP-745, used for indications in the field of anti-inflammatory immune indications. The Phase 1 clinical of ABP-745 exhibited outstanding pharmacokinetics and safety. The clinical trial is on the verge of entering Phase 2. For more information about Atom Therapeutics and its pipeline, please visit https://www.atombp.com/.About CMSCMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development of its advantageous specialty fields and expand business boundaries. While strengthening the competitiveness of the cardio-cerebrovascular/gastroenterology business, CMS independently operates its dermatology and medical aesthetics business, and ophthalmology business, aiming to gain leading positions in specialty therapeutic fields, whilst enhancing the scale and efficiency. At the same time, CMS has expanded its business territory to the Southeast Asian market, striving to become a "bridgehead" for global pharmaceutical companies to enter the Southeast Asian market, further escorting the sustainable and healthy development of the Group.Reference:1. The results of Phase 2 clinical trials was published and can be found at: https://www.atombp.com/2023/03/01/atom-bioscience-announces-positive-results-of-phase-2a-china-clinical-trial-of-its-urat1-inhibitor-for-chronic-gout/CMS Disclaimer and Forward-Looking StatementsThis press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.Media ContactBrand: China Medical System Holdings Ltd.Contact: CMS Investor RelationsWebsite: https://web.cms.net.cn/en/home/Source: China Medical System Holdings Ltd. Copyright 2024 ACN Newswire via SeaPRwire.com.

Genetec maintains stable and profitable performance on a lower Q1FY2025 revenue

Key Financial Performance Highlights for Q1FY2025:Group’s total revenue for the quarter is RM40.2 million, contributed primarily by key clients in the e-mobility and energy storage segment, supplemented by the electronics segment.Recorded PAT of RM4.1million for the quarter under review.GP, PBT, PAT, and PATAMI margins remain in the double-digit levels at 18.2%, 10.9%, 10.2% and 11.9%, respectively due to continued cost discipline.BANGI, Malaysia, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Technology leader in providing turnkey, intelligent manufacturing automation solutions, GENETEC TECHNOLOGY BERHAD (“Genetec” or the “Company”), announced its financial results for the first quarter of its new financial year (“Q1FY2025). Despite the lower Year-on-Year (“YoY”) revenue, Genetec showcases its resilience with the continued profitability and high-double digit margins.The Company recorded revenue of RM40.2 million and gross profit (“GP”) of RM7.3 million for its Q1FY2025 ending 30 September 2024. It also reported profit before tax (“PBT”) of RM4.4 million, profit after tax (“PAT”) of RM4.1 million and profit after tax and minority interest (PATAMI) of RM4.8 million. Genetec continues to maintain double-digit margins for its GP, PBT, PAT and PATAMI of 18.2%, 10.9%, 10.2% and 11.9%, respectively.Genetec acknowledged that the last quarter has been challenging for the business which it believes was mainly attributed to policy uncertainties from the client’s operating markets. With the conclusion of the U.S. Presidential election and European policy developments, particularly on inflation, import tariffs, and decarbonisation, there is a sense of relief and clarity, and companies are moving forward with their capital expenditure with greater certainty.The Company, leveraging its expertise in customised automation technology and project execution, continue to work closely with its clients to deliver tailored solutions aimed at enhancing manufacturing automation, improving efficiency and increasing production yield for its clients. With its strong track record, Genetec is confident in its ability to continue to build trust and secure recurring business from its clients. Its high client retention rate stands as a testament to its exceptional performance and has been a key factor in the Company’s success. This strong foundation enables the Company to broaden its scope and product offerings with other divisions within the organisation of its existing clients to grow revenue over the long-term. At the same time, the Company’s business development team continue to explore new opportunities in new markets and industries, leveraging on its extensive experience and proven success working with leading international and reputable clients.Genetec’s Battery Energy Storage System (“BESS”) business is slowly gaining traction as it executes smaller-scale but strategically significant projects in both domestic and international markets. The Company remains confident that its execution capabilities and international track record will position Genetec favourably. Market developments such as the government’s recently announced Corporate Renewable Energy Supply Scheme (CRESS) through interest in pairing BESS technology with solar projects, will also support demand for BESS moving forward, and is a step in achieving 70 percent renewable energy in the capacity mix by 2050[1].Moving forward, Genetec remains committed to its strategy and focus on operational efficiency, strict cost management. With its low gearing levels and recent sale of subsidiary CLT Engineering Sdn Bhd to add to its already strong cash position, Genetec is positioning itself to ramp up operations in the coming months.About Genetec Technology BerhadGenetec Technology Berhad is a technology leader in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the Main Market of Bursa Malaysia Securities Berhad (Stock code: 0104). Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for its global customers in the Electric Vehicle (EV), Energy Storage, Automotive, Hard Disk Drive (HDD), Consumer Goods and Healthcare sectors.For more information please visit: https://genetec.net/.Issued by: Narro Communications on behalf of Genetec Technology Berhad[1] Source: Suruhanjaya Tenaga – Guidelines for CRESS Copyright 2024 ACN Newswire via SeaPRwire.com.

Military Metals Completes Claim Staking Around the Last Chance Antimony-Gold Property in Nevada

Vancouver, British Columbia--(ACN Newswire via SeaPRwire.com - November 28, 2024) - Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the "Company" or "MILI") is pleased to report that it has completed additional staking of claims surrounding the Last Chance antimony-gold property, located in Nye County, Nevada, just over 70km north of the town of Tonapah and 12km due west of Kinross' Round Mountain gold mine. The Company recently entered into a letter of intent to acquire the Last Chance antimony-gold property. Please refer to the Company's news release dated November 14, 2024, for additional details about the Last Chance property.Scott Eldridge, Chief Executive Officer of the Company, commented, "Antimony prices have now risen to $38,000 USD per tonne, making antimony the top performing commodity thus far for 2024. China's export restriction that came into play September 15, 2024, has created a supply crunch that has magnified the need for domestic development of defense sector metals. This additional staking solidifies complete coverage of what we believe is the entire mineralized system surrounding the Last Chance antimony-gold property."Location map, Last Chance PropertyTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/10818/231755_11f4bf32b4999b42_001full.jpgHistorical antimony-gold occurrences and a solitary shaft where limited historical production is recorded occur within a sequence of Paleozoic carbonates and Lower Mesozoic metamorphosed shales and carbonates; A series of ultramafic dykes as well as younger felsic intrusives and extrusives cut this sequence at several locations. Mineralization is structurally controlled, with folding, faulting and quartz veining seen throughout the metamorphosed sedimentary sequence at several locations across the property.A fence of claims was staked surrounding the Last Chance property to ensure that additional ground considered potentially prospective remains available to the Company when it begins its first field campaign scheduled for Q2/2025.The technical contents of this release were reviewed and approved by Avrom E. Howard, MSc, PGeo, geological consultant to Military Metals and a qualified person as defined by NI 43-101.About Military Metals Corp. The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.ON BEHALF OF THE BOARD of DIRECTORSFor more information, please contact:Scott EldridgeCEO and Directorscott@militarymetalscorp.comFor enquiries, please call 604-722-5381 or 604-537-7556This news release contains "forward-looking information". Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-Looking information in this news release includes statements related to the completion of a binding agreement and closing of the acquisition of the Last Chance Gold Property, as well as future plans for exploration activities, and assumptions related to the continuation of the global demand for antimony. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include meeting the conditions to close the acquisition of the Last Chance Gold Property, geopolitical developments related to the supply of antimony, the continued use of antimony and availability of alternatives, availability of capital and labour in respect of the properties that are the subjects of this news release, the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact both and any future activities in respect of the properties. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-Looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231755 Copyright 2024 ACN Newswire via SeaPRwire.com.

Hua Medicine Announces Successful U.S. Phase I Results on Its 2nd Generation GKA Candidate

SHANGHAI, Nov 30, 2024 - (ACN Newswire via SeaPRwire.com) - Hua Medicine (the “Company”, HKEx stock code: 2552) announced today that the Company has successfully completed a Phase I clinical trial on its 2nd generation GKA candidate in U.S. at the 9th China BioMed Innovation and Investment Conference (CBIIC).The Phase Ia clinical trial of the second-generation GKA (HM-002-1005) was conducted in the United States in 40 subjects with Type 2 diabetes (T2D). This trial was randomized, double-blind, placebo-controlled, single-dose, focusing on safety, tolerability, and pharmacokinetics. The second-generation GKA is a novel molecular entity with optimized physicochemical properties, holding new patents, and serving as the prodrug of dorzagliatin (HMS5552). This study designed for once-daily oral administration. Its aim is to extend the drug's action duration in the body through sustained-release technology, enhance patient compliance, and prolong the stimulation of GLP-1 secretion in the intestines.The Single Ascending Dose (SAD) study demonstrates that HM-002-1005 tablets can be rapidly converted to HMS5552 in the human body, with minimal exposure level of prodrug in both blood and urine. The t1/2 (biological half-life) after a single dose of HM-002-1005 tablets was prolonged compared to dorzagliatin tablets. The Cmax of HMS5552 in plasma after a 184.5mg single dose is comparable to the plasma concentration of HMS5552 after a 75mg single dose of dorzagliatin tablet; likewise, the daily AUC of HMS5552 in plasma after a single dose of HM-002-1005 tablets is comparable to the exposure level of HMS5552 after a 75mg BID dose of dorzagliatin tablets. The research indicates that HM-002-1005 tablets are near-completely converted to HMS5552 in human, and its pharmacokinetic characteristics support for once-daily oral administration. The development of HM-002-1005 tablets not only contributes to enhancing patient medication adherence and effectively control blood glucose levels within 24 hours; meanwhile, it also offers the opportunity to explore the Maximum Tolerated Dose above 150mg daily to achieve better efficacy. The 75 mg BID dose regiment was developed under the concept of Minimum Therapeutic Effective Dose in Chinese T2D patients who suffered from an impairment of insulin secretion and significant reduction of early phase insulin. The different disease characters of T2D with obesity in western patient population would benefit dorzagliatin from its effects on GLP-1 secretion and improvement of insulin sensitivity.With the confirmation that the exposure level of HM-002-1005 tablets at 184.5mg is comparable to dorzagliatin tablets at 75mg (BID), we will further optimize the dosage form followed by a Multiple Ascending Dose (MAD) clinical development of the 2nd generation GKA in China and the United States.Dr. Li CHEN, founder and CEO of Hua Medicine, stated, “Hua Medicine has always been committed to treating Type 2 diabetes at its root cause by restoring patients’ ability to autonomously regulate blood glucose levels. Over the course of a decade, the Company has selected dosing and clinical research protocols that are safe and effective for the majority of Chinese diabetes patients, leading to the successful development of GKA and the clinical application of dorzagliatin. Building on this foundation, the Company will undergo a strategic upgrade by further exploring the therapeutic potential of GKA, enriching its product pipeline and seeking partners both domestically and internationally, in order to benefit a broader range of patients, expand into global markets, and effectively establish the brand identity of GKA medications while maximizing the commercial potential of our global first-in-class drugs.”About Hua MedicineHua Medicine (The “Company”) is an innovative drug development and commercialization company based in Shanghai, China, with companies in the United States and Hong Kong. Hua Medicine focuses on developing novel therapies for patients with unmet medical needs worldwide. Based on global resources, Hua Medicine teams up with global high-calibre people to develop breakthrough technologies and products, which contribute to innovation in diabetes care. Hua Medicine's cornerstone product HuaTangNing (Dorzagliatin tablets), targets the glucose sensor glucokinase, restores glucose sensitivity in T2D patients, and stabilizes imbalances in blood glucose levels in patients. HuaTangNing was approved by the National Medical Products Administration (NMPA) of China on September 30th, 2022. It can be used alone or in combination with metformin for adult T2D patients. For patients with chronic kidney disease (CKD), no dose adjustment is required. It is an oral hypoglycemic drug that can be used for patients with Type 2 diabetes with renal function impairment.For more informationHua MedicineWebsite: www.huamedicine.comInvestorsE-mail: ir@huamedicine.comMediaE-mail: pr@huamedicine.com Copyright 2024 ACN Newswire via SeaPRwire.com.

Hua Medicine Announces Successful H.K. SENSITIZE Study Results at the CBIIC

SHANGHAI, Nov 30, 2024 - (ACN Newswire via SeaPRwire.com) - Hua Medicine (the “Company”, HKEx stock code: 2552) announced today that the Company has successfully completed its SENSITIZE study on the mechanism by which dorzagliatin improves the β-cell glucose sensitivity at the 9th China BioMed Innovation and Investment Conference (CBIIC).The SENSITIZE study was initiated by Professor Juliana Chan, an international endocrinology specialist at The Chinese University of Hong Kong, as the lead researcher. It is the first clinical study in Asian populations to evaluate the impact of GKA on β-cell glucose sensitivity in the populations with varying degrees of impaired glucose tolerance using the technology of hyperglycemic clamp. The study aims to explore the impairment of glucokinase (GK) function and clinical characteristics in different types of glucose dysregulation, providing new scientific evidence on the pathophysiology of Asian Type 2 diabetes and the central role of GK in blood glucose regulation.The SENSITIZE 2 study results announced at CBIIC demonstrate that a single dose of dorzagliatin restores GK enzyme activity, significantly improving the second-phase insulin secretion and β-cell glucose sensitivity in individuals with impaired glucose tolerance (IGT) in hyperglycemic clamp study. In addition, the SENSITIZE 1 study previously reported at the 2022 ADA annual meeting showed that dorzagliatin directly restores the activity of GK mutants, leading to significant improvements in the second-phase insulin secretion and β-cell glucose sensitivity in patients with glucokinase monogenic diabetes (GCK-MODY or MODY-2), and significantly enhance basal insulin secretion in newly diagnosed type 2 diabetes patients.Hua Medicine will continue to investigate β-cell glucose sensitivity improvement and incretin effect in response of repeated dose of dorzagliatin in individuals with intermediate hyperglycemia (IH) and Type 2 diabetes, in order to establish personalized intervention and treatment management plans for prediabetic and Type 2 diabetes patients.About Hua MedicineHua Medicine (The “Company”) is an innovative drug development and commercialization company based in Shanghai, China, with companies in the United States and Hong Kong. Hua Medicine focuses on developing novel therapies for patients with unmet medical needs worldwide. Based on global resources, Hua Medicine teams up with global high-calibre people to develop breakthrough technologies and products, which contribute to innovation in diabetes care. Hua Medicine's cornerstone product HuaTangNing (Dorzagliatin tablets), targets the glucose sensor glucokinase, restores glucose sensitivity in T2D patients, and stabilizes imbalances in blood glucose levels in patients. HuaTangNing was approved by the National Medical Products Administration (NMPA) of China on September 30th, 2022. It can be used alone or in combination with metformin for adult T2D patients. For patients with chronic kidney disease (CKD), no dose adjustment is required. It is an oral hypoglycemic drug that can be used for patients with Type 2 diabetes with renal function impairment.For more informationHua MedicineWebsite: www.huamedicine.comInvestorsE-mail: ir@huamedicine.comMediaE-mail: pr@huamedicine.com Copyright 2024 ACN Newswire via SeaPRwire.com.

The Hong Kong Institute of Directors Announces Winners

HONG KONG, Nov 29, 2024 - (ACN Newswire via SeaPRwire.com) - The Hong Kong Institute of Directors ("HKIoD") announced the winners of its Award Series for Director Excellence (the "Awards") – comprising the long-established Directors of the Year Awards ("DYA") and the inaugural Climate Governance Awards ("CGA"), at its Annual Dinner yesterday at the Hong Kong Convention and Exhibition Centre.  The event began with an opening speech by Dr Christopher To, Chairman of the HKIoD. Dr The Hon Moses Cheng Mo Chi, Non-official Member of the Executive Council of HKSARG, Mr Xu Wei Gang, Director General, Department of Economic Affairs, Liaison Office of the Central People's Government in HKSAR, Ms Salina Yan, JP, Permanent Secretary for Financial Services and the Treasury (Financial Services), and Dr Kelvin Wong, Chairman, Securities and Futures Commission ("SFC") and Chairman, Accounting and Financial Reporting Council ("AFRC") were invited as guests of honour. The response to the Awards submissions was overwhelmingly positive. After a lively discussion among the judges, this year's 19 winners, including directors and boards, were selected - all embodying the theme "Leading with Agility in an Era of Innovation". The awardees have demonstrated not only agility, but also the vision, courage and wisdom to lead against the backdrop of a demanding economic environment and prevailing geopolitical tensions. Moreover, they highlight the importance of having directors who can guide their companies in identifying the risks and opportunities associated with climate change, which are vital for ensuring the sustainability of the world and humanity.The Awardees of HKIoD Award Series* for Director Excellence 2024 are listed below:*Two series of Awards:- "DYA", acronym for "Directors Of The Year Awards"- "CGA", acronym for "Climate Governance Awards"In alphabetical order of names within categoryListed Companies CategoriesExecutive DirectorsDYAMr Chan Wai MingTown Ray Holdings LimitedCGAMs Clara Chan Yuen-shanLee Kee Holdings LimitedDYAMr Fu FanChina Pacific Insurance (Group) Co., LtdCGA Mr Li Wai LeungHengan Internationals Group Company LimitedMr Peter Wong Wai-YeeThe Hong Kong and China Gas Company LimitedDYA & CGAMr Yan Jianguo JPChina Overseas Land & Investment LimitedNon-Executive DirectorsDYA Dr Chung Shui Ming TimpsonChina Railway Group LimitedDr Tseng Shieng-chang CarterTCL Electronics Holdings LimitedProf Wang YijiangTCL Electronics Holdings LimitedBoardsDYA & CGAChina Resources Beer (Holdings) Company LimitedCGAHong Kong and China Gas Company LimitedDYA & CGAPing An Insurance (Group)Company of China, LtdCGAUnited Company RUSAL, international public joint-stock companyNon-listed Companies CategoriesExecutive DirectorsDYAMs Michelle ChanAS Watson IndustriesCGA Ir Prof Daniel M.ChengDunwell Technology (Holdings) Limited) (Dunwell Group)Ir Dr Cheng Sai Yau, VincentArup Fellow and Director of Climate and Sustainability in East AsiaDYAMr Orr Ka-yeung KevinWinner Medical (Hong Kong) LtdStatutory/ Non-profit-distributing Organisations CategoriesBoardsDYAHong Kong Tourism Board*In addition: recognition of Excellence in Board DiversityThe Institute of Internal Auditors Hong Kong*In addition: recognition of Excellence in Board DiversityThe guests of honour, special guests and officials to join the group photos together with the awardees (2nd row).About "HKIoD Award Series for Director Excellence"The HKIoD Award Series for Director Excellence is a project organised by The Hong Kong Institute of Directors ("HKIoD") and consists of two series of Awards.The first series, Directors Of The Year Awards, was inaugurated in 2001 as the first ever such Awards organised in Asia. As directors are ultimately responsible for corporate governance and leading the company in prosperity and integrity, the objectives of the Awards are to recognise outstanding boards and directors and to promote good practices in corporate governance and director professionalism. The Awards have become an annual project of impact in the community organised by HKIoD together with over 100 Project Partners. To date, 255 Awardees have been recognised for their achievements in demonstrating exemplary high standards in corporate governance and director practice.Inaugurated in 2024, Climate Governance Awards constitute the second series of HKIoD Awards with the objectives to recognise and inspire exemplary achievements in climate governance and to advocate climate action by directors. There are 10 awardees who have been acknowledged in the inaugural edition of the awards. It is critical time now for directors to address the risks and opportunities of climate change in board agendas and their governance role.Candidates are open to public nomination, with data processed in well-defined and stringent procedures, followed by interviews with independent consultants in utmost due diligence and finally selected by independent judges with high standards and fair judgment.  Awards are presented by company categories, viz Listed Companies, Non-listed Companies and Statutory/Non-profit-distributing Organisations, and by capacities, viz Executive Directors, Non-Executive Directors and Boards.About The Hong Kong Institute of Directors ("HKIoD")The Hong Kong Institute of Directors ("HKIoD") is Hong Kong's premier body representing directors working together to advance corporate sustainability in creating long-term value for companies, their owners, stakeholders, humankind and Planet Earth through advocacy and standards-setting in corporate governance and director professionalism. Led by Founder Chairman Dr The Hon Moses Cheng, HKIoD was founded in 1997. Throughout the years, HKIoD is honoured to have the Chief Executive of HKSAR as the Institute's Patron. Membership of HKIoD comprises of directors from diverse industries and corporate types and includes Executive Directors, Non-Executive Directors and Independent Non-Executive Directors.  With multi-culturalism and international perspectives, HKIoD organises activities that cover director training, seminars and forums, collective director voice, guideline establishment, public education, Award Series for Director Excellence, assessment of Corporate Governance Scorecard for listed companies etc.As a member body of the Global Network of Director Institutes ("GNDI"), HKIoD is committed to global collaboration in promoting good corporate governance and director professionalism. HKIoD is the appointed Host of the Hong Kong Chapter of Climate Governance Initiative, a global network that collaborates with the World Economic Forum in actively promoting directors' address of the risks and opportunities of climate change.For details please visit:http://www.hkiod.com|http://www.gndi.org|https://climate-governance.org/Media Enquiries:Award Series for Director Excellence:Strategic Public Relations Group LimitedThe Hong Kong Institute of DirectorsBrenda Chan+852 2114 4396/ brenda.chan@sprg.com.hkOdessa So +852 2889 4988/ odessa.so@hkiod.com Copyright 2024 ACN Newswire via SeaPRwire.com.

NEFECON(R) Included in National Reimbursement Drug List (NRDL)

HONG KONG, Nov 29, 2024 - (ACN Newswire via SeaPRwire.com) - On November 28, the National Healthcare Security Administration (NHSA) and the Ministry of Human Resources and Social Security announced the "National Reimbursement Drug List (2024)" (NRDL), which will officially take effect on January 1, 2025. NEFECON(R), the first etiological treatment for IgA nephropathy developed by Everest Medicines, was successfully included in the NRDL. This milestone signifies a breakthrough in advancing the standardization of IgAN treatment and improving accessibility and affordability, offering hope for millions of IgAN patients in China. NEFECON(R) has been prescribed in mainland China since May this year and has been approved in Macau, Hong Kong, Taiwan, China, South Korea and in Singapore under the trade name Nefegan(R).NEFECON(R) is the first ever treatment for IgAN to receive full approval from the U.S. Food and Drug Administration (FDA) and the first non-oncology therapeutic to receive breakthrough therapy designation in China by the China National Medical Products Administration (NMPA), underscoring its globally leading position and exceptional clinical value. Recently, at the 2024 American Society of Nephrology (ASN) Annual Meeting, data from the open-label extension (OLE) phase of the NefIgArd Phase 3 trial demonstrated that patients undergoing a second course of NEFECON(R) treatment experienced similar benefits in estimated glomerular filtration rate (eGFR) preservation and proteinuria reduction as observed after the initial treatment, with good tolerance. These findings further validate the feasibility and efficacy of long-term treatment strategies, aligning with recommendations from the "KDIGO 2024 Clinical Practice Guideline for The Management Of Immunoglobulin A Nephropathy (IgAN) And Immunoglobulin A Vasculitis (IgAV)", highlighting NEFECON(R)'s innovation and clinical value in IgAN treatment. NEFECON(R) was also listed as the only treatment proven to reduce the levels of pathogenic forms of IgA and IgA immune complexes.IgAN is highly prevalent in Asia and is one of the main causes of kidney failure in young adults in China. Statistics show that with approximately 5 million IgAN patients in China and over 100,000 newly diagnosed patients annually, there is a significant unmet clinical demand. Since NEFECON(R)'s first prescription was issued in Mainland China in May 2024, the product has demonstrated strong market performance. According to Everest Medicines' interim report, NEFECON(R) achieved RMB1.673 billion in sales within its first month, reflecting widespread recognition of its therapeutic benefits and the significant demand for innovative therapies among Chinese patients.With NEFECON(R)'s successful inclusion in the NRDL, its accessibility and coverage in China are expected to increase significantly, driving sustained and robust commercial revenue growth for Everest Medicines. This milestone not only strengthens the company's leadership in nephrology but also injects new momentum into optimizing resource allocation and promoting synergistic development. As reimbursement coverage leads to expanded market penetration, this development is poised to be a key catalyst in unlocking the full value of the company's core products, further accelerating the reevaluation of its market potential.NEFECON(R) included in the NRDL is a testament to Everest Medicines' differentiated commercial strategy. Another core product, XERAVA(R) (eravacycline) is the world's first fluorocycline antibiotic for the treatment of complicated intra-abdominal infections, continues to excel in the field of complicated intra-abdominal infections. According to the recently released final report of the "Comprehensive Evaluation Project on the Clinical Application of Eravacycline", the drug demonstrated an impressive overall treatment effectiveness rate of 90.1%, further affirming its clinical value and safety. As of the first half of 2024, XERAVA(R) achieved cumulative sales of RMB2.33 billion, underscoring its strong market acceptance and potential.In the autoimmune disease portfolio, VELSIPITY(R) continues to make steady progress in its commercialization journey. In October, under the "Hong Kong and Macau Medicine and Equipment Connect" policy, VELSIPITY(R) received approval from the Guangdong Provincial Medical Products Administration and is now available for use in three designated medical institutions within the Greater Bay Area. Earlier this year, VELSIPITY(R) was also approved for use in Macau and Singapore. In addition, Everest Medicines recently submitted a new drug application (NDA) for VELSIPITY(R) in Hong Kong and plans to submit an NDA in Mainland China by the end of the year. As Everest Medicines' third commercialized product, VELSIPITY(R) is poised to become a key growth driver, with significant market potential expected to unfold as its adoption expands further.Everest Medicines continues to make significant strides in innovative R&D, with its proprietary mRNA development platform now fully localized. The company's first personalized mRNA cancer vaccine, EVM16, has Initiated an Investigator-Initiated Clinical Trial (IIT). Additionally, EVER001, a next-generation covalent reversible Bruton's tyrosine kinase (BTK) inhibitor being developed globally for the treatment of renal diseases, marks another important advancement. Everest Medicines will host an investor call on December 4th to discuss the results of the Phase 1b/2a clinical study of EVER001 in primary membranous nephropathy, highlighting its potential to drive future growth.Driven by the inclusion of NEFECON(R) in the NRDL and the continued progress of its core pipeline, Everest Medicines' business model demonstrates its resilience and strength. The company remains steadfast in fulfilling its commitments to investors while strengthening market confidence in its innovation and long-term growth potential. With a diversified focus on renal, infectious, and autoimmune diseases, Everest Medicines is harnessing its robust commercialization platform to fuel growth, steadily advancing toward its vision of becoming Asia's leading global biopharmaceutical company. Copyright 2024 ACN Newswire via SeaPRwire.com.

Niyo Doubles Click-Through Rates and Improves Customer Retention with CleverTap

SAN FRANCISCO, CA & MUMBAI, Nov 28, 2024 - (ACN Newswire via SeaPRwire.com) - Niyo, India’s leading fintech startup, teamed up with CleverTap, the all-in-one engagement platform, to improve customer experiences through personalized engagement and real-time interactions. Since its founding in 2015, Niyo has been revolutionizing financial services in India, particularly with its international travel cards and app-based financial services, catering to the evolving needs of its users.In its almost decade-long journey, Niyo recognized the challenges that modern Indian travellers face at every touchpoint while venturing abroad. It sought a feature-rich user engagement platform that would effectively deliver the right solutions to its customers and found the ideal partner in CleverTap. By leveraging CleverTap’s advanced automation tools, Niyo enhanced its onboarding processes, while ensuring compliance with regulations, and streamlining customer experiences. This collaboration empowered Niyo to reduce drop-offs during the customer journey, automate personalized messages, and re-engage dormant users.By deploying CleverTap’s integrated platform, Niyo achieved:・2x increase in click through rates, leveraging Clever.AI for emotionally intelligent content.・40% optimized conversion rate through pinpoint targeting, ensuring personalized and relevant communication at every step.・12% re-engagement of dormant users through targeted campaigns, highlighting Niyo’s success in winning back inactive customers.Sushanth Ravikumar, SVP - Head of Marketing,  Niyo, said - “At Niyo, delivering a seamless and personalized experience for our customers is a top priority. CleverTap has been instrumental in elevating this experience. Its robust automation and communication tools have streamlined our onboarding process while maintaining compliance in the highly regulated sector. What started as a tool to streamline everyday operations has become a key force in helping us preserve customer trust, even during challenging times. Its ability to adapt to real-time shifts in customer engagement offers us a definitive edge in an ever-changing dynamic, solidifying our long-term confidence in the platform.”Sidharth Pisharoti, Chief Revenue Officer, CleverTap, said - “We are excited to collaborate with Niyo as they continue to innovate in the travel fintech space. Through our partnership, we’ve been able to enhance Niyo’s customer engagement by focusing on delivering personalized and timely experiences. This has not only streamlined their processes but also improved customer satisfaction, particularly in key areas like onboarding and transaction management. We look forward to supporting Niyo as they scale and evolve their offerings in this dynamic market.”About Niyo Niyo is India’s leading banking fintech that has revolutionized "travel banking" for Indians. The company was co-founded by banking veteran Vinay Bagri (currently, CEO) and technology veteran Virender Bisht (currently, CTO) in 2015. Niyo offers zero forex debit and credit cards, which provides the best banking experience and value for international travellers. This unique solution was invented by Niyo in 2015 and has helped over 2 million Indians by saving more up to 5% on their international transactions with Zero Forex offering.  In this last Series-C round in 2022, Niyo raised $130 million, which was led by global VC and PE firms, Accel, Lightrock, and Multiples. Its other investors include Prime Venture Partners, Horizons Ventures, Tencent, JS Capital, Social Capital, and Beams Fintech Fund. Niyo operates out of a corporate office in Bengaluru and has a sales presence in more than 20 states and union territories.Visit: GoNiyo.comAbout CleverTapCleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Decathlon, Domino’s, Levis, Jio, Emirates NBD, Puma, Croma (A Tata Enterprise), Swiggy, SonyLIV, Axis Bank, AirAsia, TD Bank, Ooredoo, and Tesco, to help build personalized experiences for all their customers. The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering speed and cost efficiency at scale.Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco, with presence across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, Vietnam, and Jakarta.For more information, visit CleverTap.com or follow us on:LinkedIn: https://www.linkedin.com/company/clevertap/  X: https://twitter.com/CleverTap  Forward-Looking StatementsSome of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.For more information:SONY SHETTYDirector, Communications and CSR, CleverTap+91 9820900036sony@clevertap.com  ASHMIT CHAUDHARYAssociate Consultant, Archetype+91 8850752121ashmit.chaudhary@archetype.co  Copyright 2024 ACN Newswire via SeaPRwire.com.

Dmall Inc. Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange

HONG KONG, Nov 28, 2024 - (ACN Newswire via SeaPRwire.com) - China’s largest retail digitalization solution provider – Dmall Inc. (“Dmall” or the “Company”, Stock Code: 02586.HK), today announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”).Dmall plans to offer 25,774,000 Shares (subject to the over-allotment option), of which 23,196,600 Shares will be International Offer Shares (subject to reallocation and the over-allotment option), representing approximately 90% of the initial offer shares; the remaining 2,577,400 Shares will be Hong Kong Offer Shares (subject to reallocation), representing approximately 10% of the initial offer shares. The Offer Price is HK$30.21 per Share, plus brokerage of 1.0%, SFC transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565% and Accounting and Financial Reporting Council transaction levy of 0.00015% (payable in full on application in Hong Kong dollars and subject to refund).Dmall will open for Hong Kong Public Offering in Hong Kong at 9 a.m., November 28, 2024 (Thursday), and close at 11:30 a.m., December 3, 2024 (Tuesday). Dealings in shares of Dmall on the Main Board of the Hong Kong Stock Exchange is expected to commence on December 6, 2024 (Friday). The shares will be traded in board lot of 100 shares each. The Company’s stock code will be 02586.HK.UBS Securities Hong Kong Limited, CMB International Capital Limited and China Merchants Securities (HK) Co., Limited are the Joint Sponsors. UBS AG Hong Kong Branch, CMB International Capital Limited, China Merchants Securities (HK) Co., Limited, CLSA Limited and China International Capital Corporation Hong Kong Securities Limited are the Joint Global Coordinators, Overall Coordinators, Joint Bookrunners and Joint Lead Managers.After deducting the underwriting commissions and other estimated offering expenses payable by the Company, with an Offer Price of HK$30.21 per Offer Share, the Company estimates that it will receive net proceeds of approximately HK$623.7 million from the Global Offering after deducting the underwriting commissions and fees, and other estimated expenses in connection with the Global Offering and assuming that the Over-allotment Option is not exercised. In line with Dmall’s strategies, the proceeds from the Global Offering are intended to be used for the following purposes and in the following amounts – approximately 42.1%, or HK$262.6 million, to develop new applications and new service modules; approximately 30.0%, or HK$187.1 million, for talent acquisition associated with the expansion of Dmall’s operations; approximately 10.0%, or HK$62.4 million, to selectively pursue strategic cooperation, investments and acquisitions that are complementary to its organic growth strategies, particularly those that can complement Dmall’s product offerings, strengthen its technology capabilities, and solidify its market position; approximately 7.9%, or HK$49.3 million, to expand its sales network and further strengthen its brand reputation; and approximately 10.0%, or HK$62.4 million, for working capital and general corporate purposes.Dmall was founded in 2015, which provides retail digitalization solutions to retailers in the local retail industry. According to Frost & Sullivan, Dmall is the largest retail cloud solution provider in China by GMV, with a market share of 13.3% in 2023. The expansion has allowed the Company to become the largest retail cloud solution provider in Asia by GMV in 2023, occupied a market share of 10.9%, according to Frost & Sullivan.As a leading retail digitalization solution provider in Asia, the broadest operational modules coverage enables Dmall to cover diverse customer base in the retail industry and thus obtain deep retail know-how, meet the needs of all major aspects of the retailer's operations. Dmall served 444 customers in the six months ended June 30, 2024, such as Pangdonglai, Luosen (China), Dennis and Maidelong Entities, as well as well-known brands such as Wellcome, Mannings, Guardian, Giant and 7-Eleven (Hong Kong), which operate under the DFI Retail Group, demonstrating a widely validated operating model. The dollar-based net retention ratio was 184% in 2021, 158% in 2022, 117% in 2023 and 123% in the twelve months ended June 30, 2024, remaining robust at above 100%, which underscores Dmall’s ability to further increase customer spending.Dmall has always attached importance to the value created for customers, “customer success” is the starting point of everything the Company does. Dmall has provided services to leading companies in different retail formats, and has successfully expanded its businesses markets outside of the Chinese mainland, comprising Hong Kong SAR, Cambodia, Singapore, Malaysia, Poland, Macau SAR, Indonesia, the Philippines and Brunei. In terms of income, the overseas income of the Company in 2023 has exceeded RMB100 million.Dmall achieved strong revenue growth as its revenue grew by 56.6% from RMB848.2 million in 2021 to RMB1,328.3 million in 2022, and further increased by 19.4% to RMB1,585.4 million in 2023. Dmall’s revenue increased by 22.9% from RMB764.0 million in the six months ended June 30, 2023 to RMB939.2 million in the six months ended June 30, 2024. Dmall has also improved its gross margin during the Track Record Period. Dmall’s gross margins were 20.4%, 38.0%, 35.0%, 36.3% and 38.3% in the years ended December 31, 2021, 2022, 2023 and the six months ended June 30, 2023 and 2024, respectively.Mr. Zhang Feng, co-founder, executive Director and president of Dmall said, “We empower retailers to thrive in the digital era and are committed to becoming the world's leading omnichannel retail digital solutions provider. We will uphold the values of "continuous innovation", always strive, constantly strengthen and uphold our own technical barriers and optimize products and services, maintain core competitiveness, continue to provide customers with high-value services, and help customers' business. We look forward to taking the listing as an opportunity to fully leverage our competitive advantages and utilize Hong Kong's unique financing platform to further enhance our strengths and continue to create greater value for our shareholders and investors.”Issued by Porda Havas International Finance Communications Group for and on behalf of Dmall Inc. For further information, please contact:Porda Havas International Finance Communications GroupMS.Fung Kelly(852) 3150 6763kelly.fung@h-advisors.globalMS.Wang Evie(86) 135 2006 8960evie.wang@h-advisors.global  Copyright 2024 ACN Newswire via SeaPRwire.com.

Edvantage Group Announces FY2024 Annual Results

Highlights (relevant audited data for the year ended 31 August 2024)- Revenue increased by 17% YoY to approximately RMB2,312 million;- Gross profit rose by 10% YoY to approximately RMB1,124 million;- Profit for the period attributable to owners of the Company rose by 16% YoY to      approximately RMB715 million;- Number of student enrolments increased by 11% YoY to approximately 95,600;- Payment of a final dividend of HK10.0 cents per share;- Dividend payout ratio of 30% for the year.HONG KONG, Nov 29, 2024 - (ACN Newswire via SeaPRwire.com) - Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) has announced its audited FY2024 Annual Results for the year ended 31 August 2024 (the “Reporting Period”). During the Reporting Period, the Group actively responded to national policies, vigorously promoted industry-education integration, deepened the connotations of international education, continued to introduce unique new featured majors that match market and industry demands and fully embraced artificial intelligence (“AI”), succeeding in raising education quality and brand presence, thereby achieving steady growth in performance year after year.During the Reporting Period, the Group’s revenue totaled approximately RMB2,312 million, representing an increase of 17% as compared to the corresponding period of the preceding year. The increase was mainly attributable to the continuous enhancement of the Group’s education brand effectiveness, which drove a rise in the number of student enrolments and higher average tuition fees recorded by the Group’s domestic schools. Profit for the period attributable to owners of the Company rose by 16% YoY to approximately RMB715 million. The number of students enrolled in the Group’s schools continued to expand yearly, reaching approximately 95,600, with a year-on-year growth of approximately 11%. The Board of Directors of the Group has recommended the payment of a final dividend of HK10.0 cents per share for the year ended 31 August 2024, which, along with an interim dividend of HK9.6 cents per share, equates to a total annual dividend of HK19.6 cents per share and a dividend payout ratio of 30% for the year.From left to right: Mr. Yan Kwok Ting Sunny, Director of Investment, Corporate Finance & Investor Relations Department;Mr. Liu Yuk Tung, ChiefFinancial Officer; Ms. Liu Yi Man, Executive Director and Chief Executive Officer;Ms. Liu Wenqi, Chief Operating Officer;Fully embracing AI and continuously promoting the industry-education integrationOver the past year, the Group witnessed the groundbreaking development of the new generation of artificial intelligence technology. As a vocational education provider, the Group has developed in step with times, fully embracing AI in teaching, management and application. At present, all of its schools are actively promoting AI, fostering its popularity, with AI-embedded courses launched in seven colleges. Subsequent efforts will be made to promote those programmes to cover all faculties and students of all schools under the Group. Meanwhile, the Group actively responded to national policies, continuously deepened industry-education integration, and fully promoted the construction of industrial colleges, cooperating with multiple enterprises renowned in their respective industries to establish artificial intelligence and big data, digital trade, digitalised accounting and business services, research and tourism, jewelry, human resources and other industrial colleges. Those industrial colleges are all set up according to the Ministry of Education requirements for building modern industrial colleges that align with the country’s key industry development strategies, in order to nurture high-quality application-minded talent that emerging industries urgently need. In addition, the Group also entered into school-enterprise cooperation with numerous enterprises to build off-campus practice bases, further promoting the in-depth integration of education chains and industrial chains.Expanding exchange and cooperation of international education and deepening the connotations of international educationThe Group responded to the national advocacy for the opening up of education, “introduction of foreign schools”, and “international expansion of domestic schools”, continuously promoted the internationalisation of vocational education and expanded the partnership network with global renowned universities. By providing high-quality international programs and practice opportunities to students, the Group aims to cultivate innovative talents with global vision, to further raise the international influence of China’s vocational education. During the Reporting Period, the schools under the Group established in-depth cooperation with 51 foreign high schools in the United States of America, the United Kingdom, Canada, Japan and Australia, joining hands to create diverse high-quality international programmes. Furthermore, the Group comprehensively launched international study tours, organising 65 student and teacher study tours to France, Singapore, Hong Kong, China, Macau, China and other regions for short-term studies, with over 4,000 teachers and students participating during the Reporting Period. Looking forward, the Group will press on with deepening integration of its schools - domestic and international, strive to build a diversified international education cooperation network, actively promote Chinese vocational education to go global and build an internationally renowned Chinese vocational education brand.Consistently increasing investment in education to build a high-quality education brandThe Group has always adhered to the motto of "Establishing school of the century, Nurturing talents of the nation". Firmly believing that increasing investment in education is an important path towards high-quality education, the Group further expanded the new campus of Guangzhou Huashang College and Guangzhou Huashang Vocational College during the Reporting Period, which includes student dormitories, library, sports centre, teaching buildings and laboratories, providing solid support for future student enrollment and sustainable development of the Group. At the same time, it has kept increasing investment in building a high-quality teaching staff, which has expanded after the Guangzhou Huashang College and Guangzhou Huashang Vocational College established their Guangdong Province Doctoral Workstation respectively. The Group has launched a series of training workshops for teachers to continuously enhance their professionalism and practical teaching abilities, encouraging them to practice what they have learned and help improve school education and teaching quality. By introducing mentors from industries, it works together with enterprises in nurturing professional “dual-qualified” teachers and “dual-skilled” industry mentors, continuing to optimize the combined structure of full-time and part-time faculty teams. The in-depth and precise investment made by the Group in various areas crucial to strengthening school management has brought bountiful results. Guangzhou Huashang College placed third in scientific research competitiveness among private undergraduate colleges in China and has been designated as a key research base for humanities and social sciences among regular higher education institutions in Guangdong Province. Guangzhou Huashang Vocational College has been named a national exemplary vocational college, while the Urban Vocational College of Sichuan ranked second in China and first in Sichuan among Shanghai Ranking's 2024 Best Chinese Private Higher Vocational Colleges. These honors are a strong testament to the Group’s high-quality educational achievements.Looking ahead, the Group will continue to nurture innovative talent, focusing on such areas as industry and education integration, internationalization, and AI to keep up with industry and social development needs, increase investment in education, and keep building a high-quality education brand. It is committed to nurturing highly-skilled interdisciplinary corporate leaders for the country and industries around the world, while continuously making positive contributions to the sustainable development of vocational education.About Edvantage Group Holdings LimitedEdvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) is the largest private business higher education and vocational education group in the Greater Bay Area, and an early mover in education sector in pursuing international expansion, listed in Hong Kong Main Board on 16 July 2019. The total number of full-time student enrolments of the Group was approximately 96,000 as of 31 August 2024. Operated 9 private education institutions, namely, Guangzhou Huashang College (Applied Undergraduate), Guangzhou Huashang Vocational College (Higher Vocational Education) and Guangdong Huashang Technical School (Secondary Vocational Education) located in Guangdong Province, the PRC; Urban Vocational College of Sichuan (Higher Vocational Education) and Urban Technician College of Sichuan (Secondary Vocational Education) in Sichuan Province, the PRC; GBA Business School (GBABS) in Hong Kong, the PRC; Global Business College of Australia (GBCA) and Edvantage Institute Australia (EIA) in Australia; as well as Edvantage Institute (Singapore) (EIS) in the downtown of Singapore.While focusing on school operations, the Group also actively fulfil corporate social responsibility, extensively contributing to social welfare programmes including charity, poverty alleviation, education and revitalisation, in order to take the initiative in repaying society through action. Since its listing, the Group has made outstanding contributions in the field of ESG and has won the “Best ESG Innovation Award” from Zhitong Finance and the “Outstanding Enterprise for ESG Innovative Practice” from Gelonghui in 2024. Copyright 2024 ACN Newswire via SeaPRwire.com.

Trescon’s World Blockchain Summit Rebrands to HODL, Signalling a Bold New Era for Innovations in Blockchain and Beyond

DUBAI, UAE, Nov 28, 2024 - (ACN Newswire via SeaPRwire.com) - Since its inception in 2017, the World Blockchain Summit (WBS) has grown into the world’s longest-running and most prestigious blockchain and Web3 event series, hosting 29 successful editions across 16 countries. Over the years, WBS has established itself as a key platform that unites global innovators, investors, and policymakers to shape the future of decentralised technology. Today, Trescon proudly announces the evolution of this iconic event with a bold rebranding to HODL, a name that embodies resilience, progress, and the limitless potential of blockchain and Web3 ecosystems.HODL will make its highly anticipated debut at the 30th global edition of the summit in Dubai, UAE, on April 28-29, 2025. This rebranding marks a significant shift toward positioning the event as a premier platform for serious business, innovation, and deal-making in the blockchain space.Why the RebrandThe transition from WBS to HODL reflects the evolution of the event from a conference series to a strategic platform driving real business outcomes. HODL now embraces not only blockchain but also the broader horizons of innovation and collaboration within Web3, crypto, and emerging decentralised systems. The focus is on creating meaningful connections between ground-breaking blockchain projects, pre-qualified investors, enterprise leaders, and government regulators. This shift reflects a commitment to facilitating collaborations that will shape the future of the blockchain industry.What to Expect at HODL 2025 in DubaiTrailblazing Thought Leaders: Hear from top blockchain innovators, industry pioneers, and government representatives shaping the future of blockchain and decentralised ecosystems.Deal-Making Opportunities: Engage with pre-qualified investors actively seeking the next big blockchain projects.Enterprise & Government Collaborations: Dive into discussions on regulatory frameworks, public-private partnerships, and enterprise adoption strategies for blockchain.Cutting-Edge Innovations: Witness live showcases of groundbreaking blockchain use cases, crypto solutions, and Web3 technologies from around the world.Dubai, known for its progressive blockchain policies and visionary leadership, is the perfect launchpad for the HODL brand. With Dubai’s commitment to becoming a global hub for blockchain and Web3 innovation, HODL is poised to make an unprecedented impact on the world of blockchain.QuotesMohammed Saleem, Founder and Chairman, Trescon, commented:“The rebranding of World Blockchain Summit to HODL marks a pivotal moment in our journey as we move beyond simply hosting events to becoming a true enabler of blockchain and Web3 innovation. With HODL, we aim to create a future-focused, results-driven platform that empowers projects, investors, and governments to collaborate meaningfully and shape the next era of decentralized technology.”Anil Kumar, COO, Trescon, added:“HODL isn’t just a rebrand—it’s a redefinition of what a blockchain event should be. It is a testament to our vision of facilitating real outcomes through deal-making, partnerships, and showcasing transformative blockchain solutions to the world. Dubai, with its ambitious blockchain agenda, is the perfect stage for this transition.”The Legacy of WBSFor nearly a decade, the World Blockchain Summit has led the way in blockchain adoption, creating a legacy as the longest-running Web3 event. The rebrand to HODL builds on this legacy, signalling a more strategic, business-centric approach to blockchain’s integration into industries and society.Join Us at HODL 2025 in DubaiMark your calendars for April 28-29, 2025, and join us in Dubai for HODL – The Vanguard of Blockchain and Beyond, where innovation meets opportunity.For more details and early registrations, visit: hodlsummit.com/dubai2025.About HODLHODL is an event by Trescon that supports the growth of the blockchain, crypto and Web3 ecosystem globally. It is the world's longest-running blockchain, crypto, and web 3-focused summit series. Since its inception in 2017, it has hosted more than 20 editions in 11 countries and strives to create the ultimate networking and deal flow platform for the Web3 ecosystem. Each edition brings together global leaders and emerging start-ups in the space, including investors, developers, IT leaders, entrepreneurs, government authorities, and others.About TresconTrescon is a global leader in business events, focusing on the adoption of emerging technologies and sustainable solutions. With a portfolio of industry-leading events, including HODL (formerly WBS), Trescon is dedicated to creating platforms that foster innovation, collaboration, and economic growth.Media Contact:Shadi DawiSenior DirectorPR, Comms., and Partnerships, Global & MEAE: shadi@tresconglobal.com | M: +971 55 498 4989 Copyright 2024 ACN Newswire via SeaPRwire.com.

Survey: New Opportunities in Cross-border E-commerce

HONG KONG, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - The Hong Kong Export Credit Insurance Corporation (HKECIC) and Hong Kong Trade Development Council (HKTDC) jointly released a research study today, titled "Unleashing the Lucrative Potential of Cross-border E-commerce for Hong Kong Traders". The study revealed that 90% of surveyed companies anticipated that cross-border e-commerce could drive significant sales growth in the business in the next two years.  However, the market-related challenges continue to persist, including intense market competition, complex customs clearance procedures and the management of returns and refunds. In light of these challenges, experts recommend developing appropriate online marketing and sales strategies, enhancing risk management and adopting efficient logistics and delivery practices to better seize the opportunities presented by cross-border e-commerce.Mr Terence Chiu, Commissioner of HKECIC, said, “The joint research study of the HKECIC and the HKTDC helps the industry in gaining deeper understanding of the latest development in expanding cross-border e-commerce, as well as outlining the challenges faced by businesses and the support they needed. While cross-border e-commerce has seen a significant growth in recent years, the study highlighted that the market remains highly competitive, and the ecosystem and related infrastructure still require further improvement.  In addition, many e-commerce businesses have limited assets and insufficient collateral to secure financing from traditional banks and financial institutions, reflecting the ongoing challenges in the e-commerce environment. This year, the HKECIC has collaborated with a fintech and a reinsurance company, and also a bank to develop bespoke trade credit insurance solutions, aiming to provide coverage for trade loans to Hong Kong e-commerce businesses. These initiatives encourage and support local enterprises in securing trade financing and expanding into cross-border e-commerce. The HKECIC will actively seek collaboration with more financial institutions, in line with the 2024 Policy Address, to better support Hong Kong businesses in securing e-commerce export financing. By leveraging its expertise in trade credit insurance and risk management, the HKECIC is dedicated to assisting Hong Kong businesses in maintaining their competitive edge, helping them explore new overseas markets, mitigate trade risks and reduce operating costs.”Dr Patrick Lau, HKTDC Deputy Executive Director, said, “E-commerce has become a key driver of the global economy. The World Bank estimates that global B2C e-commerce sales will reach US$6 trillion by 2024, with Mainland China leading the way – over a quarter of retail consumer goods sales occur online. In collaboration with the HKECIC, the study aims to help Hong Kong businesses explore new markets and seize opportunities. The HKTDC will continue to support local companies in engaging with e-commerce and taking advantage of growth opportunities on the global stage.”From June to August 2024, the HKECIC and the HKTDC conducted phone and online interviews with 352 local trade and manufacturing companies to assess the development of Hong Kong companies’ cross-border e-commerce operations, while also detailing the challenges they face and identifying the support services they require.Driving significant sales growth in the next two yearsAs network technology has become more widespread, while electronic payment services are now ubiquitous and e-commerce platforms have come to offer an ever-expanding range of services, even new entrants and smaller businesses can easily develop cross-border e-commerce operations on a global basis. 90.0% of surveyed companies anticipated that cross-border e-commerce could raise their total sales revenue in the next two years.The surveyed companies in general indicated that cross-border e-commerce positively impacts their expansion plans whether via broader sales channels (69.0%), new market opportunities (50.3%), or enhanced brand awareness (48.9%).Reaching out to global markets: Focusing on the Mainland and ASEANHKTDC Principal Economist Wing Chu, who led the study, said, “The scope of cross-border e-commerce business for Hong Kong companies spans all parts of the world, covering markets, such as Mainland China (75.2%), ASEAN (53.0%), the US (42.2%), Japan (30.9%) and the EU (30.0%). Looking ahead, respondents generally agreed that, for the next two years, Mainland China (61.6%) and ASEAN (44.3%) offer the greatest growth potential. The surveyed companies generally hope to make use of risk management to meet market competitiveness and the challenges outlined, such as insurance for cargo transportation or payments (39.8%), e-commerce promotion (34.4%) and logistics services for both delivery and product returns (33.5%).”Coping with online and offline challengesCross-border e-commerce operators must confront a variety of practical issues relating to both online and offline procedures, including goods delivery, platform charges, exchange rates and refunds as well as market, regulation and financing issues.Of the companies surveyed, 38.4% said that customs clearance procedures in Mainland China and foreign markets are complex, with 31.3% indicating that product returns involve complicated procedures and / high costs, and 29.8% finding it difficult to manage practical issues, such as the international delivery of small orders.Regarding the issues of platform charges, exchange rates and refunds, the high commission rates charged by third-party e-commerce platforms and long payment periods were identified as challenges by 51.1% of respondents. Meanwhile, 46.6% said fluctuating exchange rates or high exchange costs were problems they faced during their cross-border e-commerce operations. 28.4% were concerned about the expansive costs about refund policy.In addition, companies must contend with a wide range of difficulties. Majority of the surveyed companies (84.9%) noted that developing cross-border e-commerce presented market-related challenges, such as keen market competition. Meanwhile, 54% indicated regulatory issues, and 41.2% encountered financial challenges.Leveraging Hong Kong's advantages to unlock global e-commerce opportunitiesIn addition to the questionnaire, HKTDC also interviewed a number of companies engaged in cross-border e-commerce or related businesses. According to expert’s opinion, though the mainland market is huge in scale, the competition is keen. Overseas opportunities abound, such as the advanced economies of Europe and America have mature online shopping markets and e-commerce markets in Southeast Asia.In addition, online sales strategies tailored to target markets are of prime importance, including the collaboration with KOL or influencers and using short-form videos to attract consumers.The study also highlighted Hong Kong's excellent logistics capabilities and extensive air cargo network as well as its well-developed financial markets and diverse financing services, which are well-suited to meeting the financial needs of e-commerce. Meanwhile, Hong Kong serves as an ideal gateway for foreign products entering Mainland China, with the Hong Kong brand enjoying a competitive edge in the region.Photo download: https://bit.ly/3Bb95BADr Patrick Lau, Deputy Executive Director, HKTDC (left) and Terence Chiu, Commissioner, HKECIC (right)Dr Patrick Lau, Deputy Executive Director, HKTDC (second left); Terence Chiu, Commissioner, HKECIC (second right); Wing Chu, Principal Economist, HKTDC (first left); and Cynthia Chin, General Manager, HKECIC (first right)References- HKTDC Research Portal https://research.hktdc.com/en- Unleashing the Lucrative Potential of Cross-border E-commerce for Hong Kong Traders https://research.hktdc.com/en/article/MTg1OTQ2Mzk3MwAbout HKECICThe HKECIC was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115).  Through the provision of export credit insurance services, the HKECIC protects Hong Kong exporters who trade on credit terms with overseas buyers against non-payment risks and helps them conduct export business in a prudent manner.  The HKSAR Government provides a guarantee of HK$80 billion for HKECIC’s contingent liability.About HKTDCThe 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 LinkedInMedia enquiriesHKECICCorporate Communication DivisionTina NgTel: (852) 2732 9998Email: tina.ng@hkecic.comHKTDCCorporate Communication & Marketing DepartmentSharon HaTel: (852) 2584 4575Email:sharon.mt.ha@hktdc.orgYuan Tung Financial Relations LimitedLouise SongTel: (852) 3248 5691Email: lsong@yuantung.com.hk Copyright 2024 ACN Newswire via SeaPRwire.com.

SCIB Reports 14.6% Revenue Growth to RM45.1 Million in Q1FY2025

KUCHING, MALAYSIA, Nov 28, 2024 - (ACN Newswire via SeaPRwire.com) - Industrialised building systems specialist, Sarawak Consolidated Industries Berhad ("SCIB" or the "Company") is pleased to announce its unaudited financial results for the first quarter of the fiscal year 2025 (“Q1 FY2025”). The Company reported a revenue of RM45.1 million, marking a 14.6% year-on-year increase compared to RM39.4 million in Q1 FY2024. The growth in revenue is largely due to the increased recognition of construction works done from ongoing projects. Ku Chong Hong, Managing Director of SCIBAs for Q1FY2025, SCIB's Manufacturing division continues to play a pivotal role in the Company’s performance, contributing RM32.5 million to the total revenue, a 9.9% increase from RM29.6 million in Q1 FY2024. This growth was primarily driven by increased sales of foundation piles and Industrialised Building System (“IBS”) products, especially for major projects such as the Kuching Urban Transportation System (“KUTS”), the Sarawak Second Trunk Road (“STR”) and school projects in Sarawak.Profit Before Tax (“PBT”) for the manufacturing segment stood at RM3.8 million. Meanwhile, the Construction/Engineering, Procurement, Construction and Commissioning (“EPCC”) division reported revenue of RM12.6 million, an increase from RM9.8 million in the same quarter last year. However, the segment recorded a Loss Before Tax (“LBT”) of RM2.0 million due to unanticipated unrealised foreign exchange loss recognised. The division remains focused on delivering ongoing projects while exploring new opportunities for expansion.During the quarter, SCIB maintained its commitment to strengthening its financial foundation and broadening its project portfolio. Additionally, SCIB had recently acquired a 2.49-hectares land parcel at Bintulu Sibiu Road, Bintulu, for RM9.2 million, followed by another parcel of 7.3-hectares land in Jalan Bintulu-Sibu as part of its plan to collaborate  with developers for residential housing projects that utilise SCIB’s high-quality products and industry expertise, while expanding SCIB’s products and services offering to serve the fundamental needs of the Sarawak market.Mr. Ku Chong Hong, Managing Director of SCIB, commented, “The results of Q1 FY2025 reflect the challenges of a dynamic economic environment. However, we remain steadfast in our commitment to strengthening the financial foundation of the Company. Besides targeting to secure projects consistently, the recent securing of financial facilities from SME Bank and the proposed private placement of 10.0% of SCIB’s total issued shares underscore our focus on enhancing our cash position and ensuring financial stability to support our operational and strategic initiatives."Looking ahead, SCIB remains optimistic about Malaysia’s construction sector, bolstered by the record allocation in Budget 2025 of RM421 billion, including RM86 billion for development expenditure. The RM5.9 billion allocated for Sarawak, aimed at upgrading public infrastructure such as schools, healthcare centres, and airports, as well as large-scale projects like the Sabah-Sarawak Link Road (“SSLR”) and the North Coastal Highway, aligns seamlessly with SCIB’s expertise and strategic direction. The Company is poised to leverage its manufacturing capabilities and strategic initiatives to secure a strong foothold in both local and regional markets, ensuring sustainable growth and long-term value for its stakeholders.ABOUT SARAWAK CONSOLIDATED INDUSTRIES BERHADSarawak Consolidated Industries Berhad (“SCIB”) was founded in 1975 and has evolved from a small enterprise into a reputable Group of companies listed on the Main Market of Bursa Malaysia Securities Berhad. Currently, SCIB is operating three factories in Kuching, Sarawak, one factory in the Pending Industrial Estate and two factories in the Demak Laut industrial park.SCIB is well known for professional management and has long history of innovative ideas and technological advances. Coupled with its wealth of experience and research acquired in more than three decades, SCIB offers its clients in-depth expertise through a combination of technology, efficiency and speed.For more information, visit scib.com.my.Issued By: Swan Consultancy Sdn. Bhd. on behalf of Sarawak Consolidated Industries BerhadFor more information, please contact:Jazzmin WanEmail: j.wan@swanconsultancy.bizStephanie ChowEmail: s.chow@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.

Step Into the World of Jean-Michel Basquiat

SINGAPORE, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Art lovers, get ready for an unforgettable journey into the world of Jean-Michel Basquiat! This December, Singapore will host the global debut of Behind the Canvas Series 1: Jean-Michel Basquiat, an immersive experience celebrating the life and work of one of the most influential artists of our time. Running from 16th December 2024 to 6th March 2025 at Marina Bay Sands, this experience is set to captivate audiences with a fresh, engaging take on Basquiat’s artistic legacy.Untitled (Crown), 1988© Estate of Jean-Michel Basquiat. Licensed by Artestar, New York.This 3-month long initiative, presented by Covenant ART — a platform for art-led immersive concepts founded by entrepreneurs Jude Robert and Angelito Perez Tan, Jr. — in partnership with prominent New York collector and publisher Larry Warsh’s House of Inspiration, and with the support of our associate partners AKG Ventures, SEA Pixel Investments, Meridian Alpha Family Office, and Alpha-Omega Holdings, brings art appreciation to a wider audience. Behind the Canvas Series 1: Jean-Michel Basquiat reimagines the stories of iconic artists through innovative, experiential showcases, making art accessible and relatable to everyone.A Celebration of Art and LegacyUntitled, 1983© Estate of Jean-Michel Basquiat. Licensed by Artestar, New York.American artist - Jean-Michel Basquiat broke boundaries and revolutionised contemporary art. Known for his raw, emotive style that seamlessly merged into neo-expressionism paintings, Basquiat’s work continues to resonate across generations while reflecting the thought-provoking themes of identity, race and social dynamics. With the support of the Basquiat Estate, and their global licensing agency Artestar, Behind the Canvas Series 1: Jean-Michel Basquiat will be the first of its kind, focusing on Basquiat's artistic journey, offering an unprecedented look into his life, artistic evolution, and cultural impact.Visitors will embark on an immersive exploration of Basquiat’s formative years, his inspirations, and the pivotal moments that defined his career. Through interactive installations, rare archival materials, and multisensory experiences, the 3-month experience aims to deepen appreciation for Basquiat’s creativity while fostering introspection and dialogue about the themes his art represents.“We are honoured to be able to bring Jean-Michel Basquiat’s story and artistry to a new audience in Asia. Basquiat's work transcends time, culture, and boundaries, and introducing his raw creativity and unique perspective to a new region feels especially meaningful,” says Larry Warsh, founder of House of Inspiration and publisher of No More Rulers, a publishing house focused on art-related tomes.Singapore: A Hub for Artistic InnovationLeft to Right: Untitled (Bust), 1984; Pez Dispenser, 1984; Trumpet, 1984© Estate of Jean-Michel Basquiat. Licensed by Artestar, New York.Behind the Canvas Series 1: Jean-Michel Basquiat aims to make art more approachable, accessible, and relatable to all. As the inaugural stop for the Behind the Canvas series, Singapore solidifies its position as a leading cultural hub. Plans are already in motion to bring future editions of the series to other major cities across Asia."I am thrilled to introduce our first instalment of the Behind the Canvas Series in Asia. After years of living abroad in China and growing companies in the luxury and arts sector, launching this original immersive concept in my home country Singapore is deeply personal. Jean-Michel Basquiat is a true artist, and we hope that our Behind the Canvas Series 1: Jean-Michel Basquiat experience will serve as a catalyst for creativity and connection, demonstrating why his work remains so relevant today,” shared Jude Robert, co-founder of Covenant ART. “Working closely with the National Arts Council and Singapore Tourism Board, it is an absolute pleasure to help foster and elevate the creative landscape in our city-state."Mitchell Crew, 1983© Estate of Jean-Michel Basquiat. Licensed by Artestar, New York. The immersive experience is part of the highly anticipated Singapore Art Week in January 2025, an annual celebration that invites everyone to experience the richness of the arts.“We are excited to partner with Covenant ART for the Behind the Canvas series as they promote artistic excellence and inspire artistic appreciation and dialogue,” says Sam Lay, Director, Strategic Partnerships & Engagement at the National Arts Council. “Such partnerships are important to the Singapore Art Week as we work closely with the visual arts community and stakeholders to strengthen Singapore’s position as a globally connected arts hub. We invite people of all walks of life to enjoy this pinnacle visual arts season and engage with the arts!”Don’t miss this one-of-a-kind experience. Visit www.covenantexperiences.com to learn more about Behind the Canvas Series 1: Jean-Michel Basquiat.About Covenant ARTCovenant ART creates and produces original art-led immersive experiences that seamlessly blend storytelling and cutting-edge technology to captivate new audiences. We believe that the story and inspiration behind an artist's work can often be as beautiful as the artwork itself, and our goal is to bring that vision to life in every original experience we create. We work together with our partners to showcase the world’s most iconic contemporary artists in an innovative and immersive environment, cultivating a new generation of art lovers and enthusiasts.About House of InspirationHouse of Inspiration is an artistic platform that brings the coolest, most iconic, inspiring and boundary-breaking contemporary artists and creatives to cultural enthusiasts around the world through publishing, exhibitions, innovative products and experiences.The mission of the platform is to cultivate appreciation of the arts, bringing more consciousness and positivity to the world through art, and encourage creative expression in all forms.About Marina Bay Sands Pte LtdMarina Bay Sands is Asia’s leading business, leisure and entertainment destination. The integrated resort features Singapore’s largest hotel with approximately 1,850 luxurious rooms and suites, crowned by the spectacular Sands SkyPark and iconic infinity pool. Its stunning architecture and compelling programming, including state-of-the-art convention and exhibition facilities, Asia’s best luxury shopping mall, world-class dining and entertainment, as well as cutting-edge exhibitions at ArtScience Museum, have transformed the country’s skyline and tourism landscape since it opened in 2010.Marina Bay Sands is dedicated to being a good corporate citizen to serve its people, communities and environment. As one of the largest players in hospitality, it employs more than 11,500 Team Members across the property. It drives social impact through its community engagement programme, Sands Cares, and leads environmental stewardship through its global sustainability programme, Sands ECO360.For more information, please visit www.marinabaysands.com Copyrights & Trademarks(a) Basquiat Images. The copyrights and all other intellectual property rights in the licensed Basquiat Images are and shall remain the sole and exclusive property of Grantor. Unless Grantor agrees to a different form of notice, each Event Item shall bear a copyright notice substantially in the following form:© Estate of Jean-Michel Basquiat. Licensed by Artestar, New York.Associate PartnersAbout AKG VenturesAKG Ventures, a global macro hedge fund led by Franklin Li, combines advanced data and event analysis with deep research expertise. The firm transforms global macroeconomic events and market volatility into investment opportunities, believing that every fluctuation carries the potential to shape the future. Franklin is a legendary trader in Asia and has invested in and incubated several internationally renowned unicorns. He has a personal passion in the humanities & arts and is an avid collector and philanthropist.About SEA PixelSEA Pixel Investments is a Singapore-based Venture Fund with investments spanning from South-east Asia, Hong Kong, China, Northern and Southern America. SEA Pixel investment portfolio includes well known companies such as Lalamove and Tencent-backed Xingsheng Youxuan, and is an early LP in Infinity Ventures Crypto (IVC) Fund, Web 3.0, GameFi and DeFi, co-investor with IVC.About Meridian AlphaMeridian Alpha Family Office leverages its extensive partner network to curate investment opportunities for our family and other ultra-high-net-worth families, focusing on long-term success and cultivating sustainable partnerships.About Alpha-Omega HoldingsAlpha-Omega Holdings is a family office based in Singapore and London, investing across real estate, technology ventures and special sits, taking a long view towards preserving and growing multigenerational wealth while making a positive impact.Follow us on social media -Instagram: @basquiatexperience.sgTikTok: @basquiatexperience.sgFacebook: basquiatexperience.sgRED: Behind The CanvasWeChat: Behind The CanvasFor media enquiries, please contact:JMB@invade.co  Copyright 2024 ACN Newswire via SeaPRwire.com.

Expert Systems Announces FY25 Interim Results

HONG KONG, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Expert Systems Holdings Limited (“Expert Systems” or the “Group”; Stock Code: 8319), a leading technology and innovation company in the Asia-Pacific region, today announced the unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended 30 September 2024 (the “Reporting Period”). During the Reporting Period, the Group actively responded to market challenges and achieved an increase in gross profit margin despite the downward adjustment in business volume, demonstrating its strong business resilience.During the Reporting Period, the Group recorded revenue of approximately HK$437.2 million. Gross profit amounted to HK$70.9 million, and profit for the 1HFY2025 was HK$7.1 million. The market environment remained uncertain due to factors such as the global economic slowdown and the ongoing Sino-US competition. Nevertheless, the Group actively addressed the market challenges by optimizing its product mix and implementing effective cost-management measures. As a result, its gross profit margin increased from 14.6% in the same period last year to 16.2% during the Reporting Period, underscoring its unwavering business resilience.Mr. Andy Lau, CEO and Executive Director of Expert Systems, said: "Recognizing that the macro environment has been impacted by numerous uncertainties, we have not only made efforts to address challenges, but also adjusted our strategies and optimized our costs. In operating our product lines, we have focused our resources on businesses with high growth potential, including cybersecurity, automation, artificial intelligence (AI) and managed services. Through the close cooperation between our subsidiaries, we have been able to realize their respective advantages and provide comprehensive, one-stop solutions to meet the diverse needs of customers. This horizontal development has helped us to integrate the strengths of various business segments, which has not only enabled us to provide customers with high-value-added integrated solutions, but also enhanced our competitive advantage and laid a solid foundation for our business growth. While optimizing our product portfolio, we have also maintained effective capital allocation, focused on profit margin improvement, and actively responded to the changing business environment."BUSINESS REVIEWIT Infrastructure SolutionsThe Group has continued to provide world-class IT infrastructure solutions to corporate and institutional customers to meet their needs. In light of the frequent occurrence of cybersecurity incidents in recent years, the Group is committed to deploying appropriate cybersecurity solutions to safeguard its customers’ valuable IT assets. Additionally, in response to customers’ strong demand for automation, the Group also provides a wide range of IT infrastructure solutions that align with market trends and the surging demand. Among them, AI can comprehensively assist customers with business automation. To this end, the Group has developed a series of Generative AI (“GenAI”) applications and now offers a one-stop service that encompasses everything from infrastructure to GenAI applications, thereby eliminating any deployment and maintenance support concerns for customers. At this stage, the Group will prioritize allocating resources to two business growth engines of cybersecurity and automation (including AI). This focus aims to enhance its product portfolio and technical support, committed to providing customers with more valuable and comprehensive solutions, thereby driving business growth.IT Infrastructure Management ServicesThe Group anticipates growth in demand for IT infrastructure management services throughout the Asia-Pacific region. The Group’s service desk centers in Guangzhou and Kuala Lumpur provide IT outsourcing, help desk and other services to corporate and institutional customers, supporting over 60,000 incidents each month in seven languages. To address new demand, the Group plans to relocate the Guangzhou service desk center to a new facility and expand its capacity. Furthermore, the Group aims to extend its offerings to managed professional services (MPS), including a Network Operation Center (NOC) and Security Operation Center (SOC). All the above are expected to be completed by the first half of 2025. The service desk centers in both locations will create synergies, effectively balancing resources across regions and providing flexible services to customers, which further enhance the Group’s ability to meet the diverse customer needs. In addition, in response to the rising number of cybersecurity incidents, the Group has increased its resources to provide comprehensive cybersecurity consulting services, aiming to help customers proactively prevent cybersecurity incidents.AI BusinessThe Group continues to boost its GenAI business and has successfully developed a series of GenAI products based on cloud or on-premises large language models (“LLM”) for its corporate and institutional customers. The GenAI product series, namely ChatSeries, which includes ChatEnquiry, ChatMinutes and ChatSerivceDesk, offering a variety of functionalities to meet customer needs. Benefiting from the accelerated development of the AI ecosystem in Hong Kong, the Group has received a significant number of inquiries from clients, indicating the strong market demand. This sector is expected to be one of the key drivers in new business growth for the Group.Mr. Lau concluded: "As we enter 2025, Expert Systems will celebrate its 40th anniversary. The two core businesses of IT infrastructure solutions and IT infrastructure management services, as the cornerstones of Expert Systems, provide us with a solid foundation in a volatile market environment, while allowing us to actively develop new AI businesses. Looking ahead, Expert Systems will continue to focus on implementing strategic initiatives, including optimizing product portfolio and cost management, and continue to invest in technological research and development. We will actively respond to market challenges, strive to create value for shareholders and stakeholders, and drive the company to achieve sustainable growth."About Expert Systems Holdings Limited (Stock code: 8319)Established since 1985, Expert Systems Holdings Limited (“ESHL”) is a leading technology and innovation company which operates under the brands “Expert Systems”, “ServiceOne” and “Expert AI Enabling” with around 1,000 IT professionals. We are principally engaged in the provision of IT infrastructure solutions, IT infrastructure management services, and in the development and provision of AI products and AI solutions for corporate and institutional customers in the Asia-Pacific region. For more information, please refer to ESHL's website: https://www.expertsystems.com.hk/.Media Enquiries:Strategic Financial Relations LimitedHeidi SoTel: (852) 2864 4826Email: heidi.so@sprg.com.hkRachel KoTel: (852) 2114 2370Email: rachel.ko@sprg.com.hkMaggie KoTel: (852) 2864 4890Email: maggie.ko@sprg.com.hkWebsite: www.sprg.com.hk Copyright 2024 ACN Newswire via SeaPRwire.com.

Kingworld-Longde Life and Health Industrial Park Grand Opening

HONG KONG, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Kingworld Medicines Group Limited ("Kingworld Medicines" or the "Group", stock code: 01110.HK), a leading healthcare distribution company, announced that the Group's Kingworld • Longde Life and Health Industrial Park ("Longde Health Industrial Park" or "Industrial Park") in Bao’an Technology City, Longgang District, Shenzhen, has officially commenced operations. The opening ceremony, investment promotion conference, and investor tour were successfully held, marking a new chapter in the Group's 30-year journey in the healthcare industry and establishing a national-level pharmaceutical industry incubation and investment base for the Greater Bay Area. On the same day, Kingworld and Foci jointly launched their new product "Foci Kingworld An Gong Niu Huang Wan."Zhao Li Sheng, Chairman of Kingworld Medicines,attended the grand opening ceremony of Kingworld • Longde Life and Health Industrial Park.The Longde Health Industrial Park was developed according to the national health industry development strategy and aligned with Shenzhen and Longgang District's industrial development plans. Located at the strategic intersection of Shenzhen's Eastern High-speed Rail New Town and International Low-Carbon City, the park covers 10,000 square meters with a total construction area of 57,000 square meters. The park features high-standard production facilities and supporting infrastructure, including pharmaceutical waste treatment facilities, backup power supply systems, and centralized pharmaceutical wastewater treatment systems, providing comprehensive support for the diverse needs of resident enterprises.Construction of Kingworld • Longde Life and Health Industrial Park began in December 2020,planned as a comprehensive park integrating R&D,production, and office facilities for traditional Chinese medicine, Hong Kong medicine, and other health industry enterprises.As a key strategic project of Kingworld Medicines, the Longde Health Industrial Park leverages Kingworld's 30-year global pharmaceutical supply chain resources, mature sales network, and marketing capabilities. It actively integrates pharmaceutical supply chain resources to help park enterprises effectively expand their market channels and provides targeted professional support in financing, listing, policy, and legal matters to accelerate the incubation of pharmaceutical projects and brands aligned with the Group's strategic direction. The Industrial Park has also established innovation platforms, including a Greater Bay Area Youth Exchange Base and Hong Kong Medicine Landing Platform.Furthermore, the Industrial Park houses high-end research institutions including “Hong Kong Medicine Landing Hub”, “Shenzhen-Hong Kong TCM In-Hospital Preparatory Medicinal Products Center” and “Pharmaceutical GSP Supply Chain Distribution Center”. The park has created a life and health achievement transformation platform integrating research institutions, Shenzhen-Hong Kong medical institutions, research experts, and pharmaceutical distribution, making positive contributions to the innovative development of the biomedical industry in the Greater Bay Area.Mr. Zhao Li Sheng, Chairman of Kingworld Medicines, stated: "The Longde Health Industrial Park, as a strategic project in Kingworld Group's Fifth Five-Year Plan, represents a significant milestone in the Group's development. Kingworld Medicines consistently prioritizes technological innovation, emphasizes ecological environmental protection and sustainable development, and strives to create synergistic innovation effects. We aim to build a modern, intelligent, and green health industrial park integrating R&D, production, logistics, and sales, effectively consolidating and maximizing the Group's health industry resources. We hope to establish the park as Longgang's new landmark in the pharmaceutical industry, creating a new highland for exploring health technology, nurturing health industries, and serving human health, contributing to the prosperous development of the pharmaceutical and healthcare industry in Longgang and the Greater Bay Area."Zhao Jian Wei (first from right),Managing Director of Kingworld-LongdeHealth,signed a strategic cooperation agreement with partners includingShenzhen Angel FOF and Elong Hotel Technology (under Tongcheng Travel).Simultaneously,they also signed an agreement with Xingwu (Shenzhen) TechnologyCo., Ltd.,which represents one of the enterprises entering the industrial park.About Kingworld Medicines Group ( Stock code: 01110.HK )Kingworld Medicines Group (stock code: 01110.HK) has been committed to building a comprehensive upstream and downstream supply chain system in the healthcare industry for over thirty years, with business coverage in more than 34 provinces and cities across China. In order to adapt to the new trend of consumer upgrading, Kingworld Medicines has built a new retail ecosystem both online and offline. Shenzhen Kingworld Medicines a subsidiary of the Group, mainly engages in the agency of imported branded pharmaceutical and healthcare products in China, and has established a reputation as a leading agent for well-known brands such as Nin Jiom Pei Pa Koa, Taiko Seriogan, Kingworld Imada Red Flower Oil and Foci Kingworld An Gong Niu Huang Wan. For more information, please visit https://www.kingworld.com.cn/If you have any media enquiries, please contact LBS Communications Consulting LimitedMs Joanne ChanTel:(852) 3679 3671Email:jchan@lbs-comm.com Mr Jason HoTel:(852) 3752 2675Email:jho@lbs-comm.com Email:kingworldir@lbs-comm.com  Copyright 2024 ACN Newswire via SeaPRwire.com.

Swire Coca-Cola Hong Kong Leverages SAP S/4HANA and SAP Services to Drive Digital Transformation

HONG KONG, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Swire Coca-Cola, a leading beverage company operating in Greater China and Southeast Asia, has successfully implemented SAP S/4HANA to optimize its Hong Kong operations, signifying a milestone in the company's digital transformation journey.With a wide-reaching operation, Swire Coca-Cola produces, bottles, and distributes an impressive portfolio of 60 beverage brands, serving a franchise population of over 956 million customers. To stay ahead in the competitive market and address operational challenges in Hong Kong, the company has implemented SAP S/4HANA with the support of SAP Customer Services & Delivery.The solution enabled the company to harmonize its complex operations with flexibility, speed and insights required to tackle both present-day challenges and capture future opportunities in Hong Kong. By optimizing its multifaceted operations, including manufacturing, sourcing, financing, customer ordering, discount offering calculation, warehousing and delivery, Swire Coca-Cola can continuously support delivery across Hong Kong and leverage 360-degree real-time visibility of the automated pricing and offerings.Matthew C.M. Wong, General Manager, Digital & IT – South East Asia, Hong Kong & Taiwan, Swire Coca-Cola Limited, said, “At Swire Coca-Cola, we strive for collective success by consistently supporting our employees, partners, community and the planet. Having the right partner to deliver exceptional results is imperative as they strive to understand our unique needs, provide innovative solutions, and consistently exceed our expectations. We found these impressive qualities with the SAP Customer Services & Delivery Greater China team who seamlessly integrated its solutions into our organization’s system to deliver only the best to both our internal and external stakeholders.”Yee-Ching Wang, Head of Customer Services & Delivery, SAP Greater China, said, “We are delighted to take the lead to transition Swire Coca-Cola’s ERP to SAP S/4HANA. SAP S/4HANA is the ideal platform to support such a complex and vast operation while minimizing disruption, maximizing efficiency and providing cross-functional visibility to better serve Swire Coca-Cola’s customer base and seize new opportunities in Hong Kong.”She also added, “SAP Customer Services & Delivery’ mission is to support our customers in their transformation journeys through the adoption of SAP solutions and innovations and to help address the challenges across multiple business units, processes and technical architectures by providing key outcome for their strategies, thereby maximizing their business values.”   The complexity of Swire Coca-Cola’s implementation necessitated various end-to-end operations to run concurrently and incessantly. Starting with multiple in-depth discussions, the Customer Services & Delivery team laid out the foundation of the road ahead and identified a host of deployment milestones. To ensure a successful implementation, the team stationed on-site consultants at Swire Coca-Cola’s premises to refine and roll out several hundreds of system enhancements.Esmond Tong, Managing Director, SAP Hong Kong and Macau, “Companies seeking to improve operations and efficiency should leverage SAP S/4HANA to accelerate their business  transformation. With SAP S/4HANA's comprehensive capabilities and scalability, companies can adjust the scope and pace of their transformation to align with business strategies and adapt to fast changing market conditions. We look forward to helping more companies adopt SAP’s latest innovations and unlock new business potential.”Photo Download: https://bit.ly/3Z95f4dAbout SAPAs a global leader in enterprise applications and Business AI, SAP (NYSE: SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com/hk.For more information, press only:Strategic Public Relations Group (SPRG)Andico TsuiEmail: andico.tsui@sprg.com.hk Tel: 2114 4346 / 6902 3831 Copyright 2024 ACN Newswire via SeaPRwire.com.

Cropmate Berhad IPO Oversubscribed by 84.88 Times

KUALA LUMPUR, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Cropmate Berhad (“Cropmate” or the “Company”), a key player in the conventional and specialty fertiliser manufacturing industry in Malaysia, is pleased to announce that its Initial Public Offering (IPO) for the Malaysian public has been oversubscribed by 84.88 times, indicating strong investor interest in Cropmate’s growth trajectory and prospects.Managing Director of Cropmate Berhad, Mr. Lee Chin YokCropmate’s IPO of 260.00 million ordinary shares (“IPO Shares”) consists of a Public Issue of 210.00 million new ordinary shares (“Issue Shares”) and an Offer for Sale of 50.00 million shares (“Offer Shares”) involving:(I) Institutional offering of 208.34 million IPO Shares in the following manner:158.34 million Issue Shares allocated via private placement to institutional and selected investors, including 42.25 million Issue Shares approved for Bumiputera investors by the Ministry of Investment, Trade and Industry (“MITI”); and50.00 million Offer Shares allocated via private placement for Bumiputera investors by the MITI.(II) Retail offering of 51.66 million IPO Shares in the following manner:36.90 million Issue Shares made available for application by the Malaysian public via balloting, with an equal allocation between Bumiputera and non-Bumiputera investors; and14.76 million Issue Shares reserved for application by the eligible directors of the Company, employees of Cropmate and its subsidiary (“Group”) and persons who have contributed to the success of the Group (“Eligible Persons”).The Group received a total of 21,392 applications for 3,169,052,100 Issue Shares with a value of approximately RM633.81 million were received from the Malaysian public, which represents an overall oversubscription rate of 84.88 times. For the Bumiputera portion, a total of 10,745 applications for 1,368,843,700 Issue Shares were received, which represents an oversubscription rate of 73.19 times. For the public portion, a total of 10,647 applications for 1,800,208,400 Issue Shares were received, which represents an oversubscription rate of 96.57 times.The 14.76 million Issue Shares made available for application by the Eligible Persons were fully subscribed.Under the Institutional Offering of 208.34 million of IPO Shares, the Bookrunner has confirmed that it has received interests to subscribe the 158.34 million Issue Shares allocated via private placement to institutional and selected investors, including 42.25 million Issue Shares for Bumiputera investors by the MITI, as well as 50.00 million Offer Shares allocated via private placement for Bumiputera investors by the MITI.Managing Director of Cropmate Berhad, Mr. Lee Chin Yok, expressed, “The robust response to our IPO reflects the trust that investors have placed in Cropmate’s business and strategic direction. We are grateful for this overwhelming support and excited to move forward with our plans to enhance our operations and customer service capability to meet the growing demand for our fertilisers.”Mr Lee also added, “The enthusiastic response from investors underscores their belief in Cropmate’s future potential. This support motivates us to strengthen our operations and continue innovating to meet the evolving needs of the agriculture industry.”Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad (“HLIB”), Ms. Lee Jim Leng, remarked, “The strong demand for Cropmate’s IPO is a testament to the investment community’s recognition of the Company’s solid management team and their prospects. Cropmate is well-positioned to make a meaningful impact in the agricultural sector, and we are honoured to support them in their journey.”Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Bookrunner.Cropmate Berhad is scheduled to make its debut on the ACE Market of Bursa Securities on 5 December 2024.About Cropmate Berhad (“Cropmate”)Founded in 2018, Cropmate Berhad is an established fertiliser manufacturer and supplier in Malaysia, specialising in the formulation and blending of conventional and specialty fertilisers. With a focus on innovation and sustainability, Cropmate offers a wide range of products designed to enhance agricultural productivity, including compacted and blended fertilisers, as well as semi-organic, organic, and liquid fertilisers. Led by industry veterans with decades of experience, Cropmate is committed to supporting farmers in improving crop yield and quality. As the first pure-play fertiliser company listed on Bursa Malaysia, Cropmate continues to advance its mission of contributing to the growth and sustainability of the agricultural sector.For more information, visit https://www.cropmate.com.my/Issued By: Swan Consultancy Sdn. Bhd. on behalf of Cropmate BerhadFor more information, please contact:Jazzmin WanEmail: j.wan@swanconsultancy.bizWilliam YeoEmail: w.yeo@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.

foundit Insights Tracker Reveals 20% Surge in Hiring Activity in the Philippines: A Beacon for Southeast Asia

MANILA, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - foundit (formerly Monster APAC & ME) Asia’s leading jobs and talent platform, has unveiled its latest foundit Insights Tracker (fit) report, showcasing a remarkable 20% annual increase in hiring activity in the Philippines for October 2024. This surge, driven by strategic economic reforms and infrastructure development, highlights the region’s potential for robust economic growth.The fit report indicates a significant rise in hiring activity, with the index reaching 163 in October 2024, up from 118 in October 2023. This 20% annual increase underscores the robust recruitment momentum in the Philippines.Additionally, hiring activity saw a 15% month-over-month increase, with the index rising from 142 in September 2024 to 163 in October 2024, reflecting a strengthening job market. Over the past six months, hiring activity surged by 21%, driven by government initiatives focused on infrastructure development and economic reforms aimed at attracting foreign direct investments (FDI).The Retail sector experienced a 119% year-over-year increase in hiring demand, driven by the e-commerce boom. This surge highlights the growing importance of digital transformation in meeting consumer needs. The Logistics, Courier, Freight, and Transportation sector saw a 78% annual growth, reflecting expanded supply chain operations. The Advertising, Market Research, Public Relations, Media, and Entertainment sector recorded a 70% increase in hiring activity, showcasing the dynamic nature of these fields.Notably, there was a 127% increase in hiring for sales and business development roles, indicating a strategic shift towards strengthening sales networks. Purchase, Logistics, and Supply Chain roles saw a 103% rise, aligning with the broader industry trend of optimising supply chains. Marketing and Communications roles experienced a 69% increase, driven by a focus on influencer marketing and brand engagement.The Philippines' impressive hiring trends signal a strong economic recovery and a significant opportunity for Southeast Asia as a whole. With enhanced infrastructure and increasing foreign investments, particularly in the retail sector, the Philippines is setting an example for neighbouring countries to emulate.Foreign investments are driving job creation in key industries such as Retail, Logistics, and Media. In retail, companies are establishing new distribution hubs and retail outlets that connect Southeast Asian regions, strengthening cross-border trade and economic ties. This creates a ripple effect, fostering regional collaboration and encouraging countries like Malaysia to leverage similar growth opportunities in their own retail sectors.By sharing resources and adopting best practices, Southeast Asian nations can enhance economic resilience, promote a more integrated job market, and collectively unlock growth across the region.Timeframe for the ReportThe timeframe for the fit data is October 2023 to October 2024.About foundit - APAC & Middle Eastfoundit, formerly Monster (APAC & ME) is Asia’s leading jobs & talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. In addition to a powerful AI-powered job search, foundit offers e-learning, assessments, and services related to resume creation, interview preparation, and professional networking. Since its inception, the company has assisted over 120 million job seekers across 18 countries in connecting them with the right job opportunities and upskilling. foundit is now also the Official Talent Partner of the Badminton World Federation across 20 key world tour events.    Over the last two decades, the company has been a leader in the world of recruitment solutions and has launched a cutting-edge solution to give recruiters access to passive candidates in addition to active ones. With the use of advanced technology, foundit is seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalised job searches and offer precision hiring. Additionally, foundit has been recognised as a Great Place To Work, reflecting its dedication to fostering a supportive and dynamic work culture.        To learn more about foundit in APAC & Gulf, visit: www.foundit.in | www.founditgulf.com | www.foundit.sg | www.foundit.my |www.foundit.com.ph |  www.foundit.hk| www.foundit.id   Contact:  Namrata SharmaNamrata.sharma@adfactorspr.com+6581383034 Copyright 2024 ACN Newswire via SeaPRwire.com.