- Eco Expo Asia is expected to attract over 300 exhibitors from 11 countries and regions with new exhibitor groups from Anhui Province and Norway- The Expo will feature three focal points: New Energy, Waste Management and Circular Economy, and ESG-related Services, in pursuit of achieving the dual carbon goals- Government officials, industry experts and business leaders from various countries and regions, including Belt and Road countries will attend the Eco Asia Conference- Talks and workshops on the last day of the Expo (2 November) will be open to the public for freeHONG KONG, Oct 17, 2024 - (ACN Newswire via SeaPRwire.com) - Eco Expo Asia 2024, jointly organised by the Hong Kong Trade Development Council (HKTDC) and Messe Frankfurt (HK) Ltd and co-organised by the Environment and Ecology Bureau of the Government of the Hong Kong Special Administrative Region (HKSAR), will be held at AsiaWorld-Expo from 30 October to 2 November. The last day of the event will be open to the public for free.To extend the sourcing journey, exhibitors and buyers worldwide can connect via the Click2Match virtual business matching platform from 23 October to 9 November.HKTDC Assistant Executive Director Jenny Koo said: "In the face of climate change, countries and regions have been actively propelling carbon reduction policies and sustainable development. China, for instance, set carbon reduction and neutrality goals in 2020 and has been advocating the development of new quality productive forces. The Hong Kong SAR Government is also committed to achieving carbon neutrality before 2050, and the development of related industries has become increasingly diversified, laying a strong foundation for Hong Kong’s sustainable development. Themed Fostering Green Innovations for Carbon Neutrality, the 19th edition of Eco Expo Asia will bring together international exhibitors and industry professionals to showcase cutting-edge innovations and technologies that aim to achieve dual carbon goals.”Speaking at the press conference, the Deputy Director of the Environmental Protection Department of the HKSAR Government, Fong Kin-wa, expressed: "We hope the Eco Expo Asia could share with visitors and exhibitors from around the world, including Belt and Road countries and ASEAN countries, the latest green innovation for achieving carbon neutrality, with a view to promoting exchange and cooperation between governments and trade sectors on boosting green & low-carbon transformation, achieving sustainable development, and leading Hong Kong towards carbon neutrality.”Converging international exhibitors and government officials at Eco Expo AsiaThis year’s Expo is expected to attract over 300 exhibitors from 11 countries and regions including Mainland China, Hong Kong, Macao, Taiwan, Singapore, Germany, Finland, Norway, the Netherlands, the United States and Canada. Several provinces and cities from Mainland China will form pavilions, including the return of Guangzhou and Shenzhen. The Anhui Pavilion will debut with technologies focused on air quality, water treatment and quality management as well as new energy materials and equipment. Supported by Innovation Norway, the debut group participation from Norway will showcase technologies for water quality management and waste treatment.The Eco Asia Conference, held during the first three days of the exhibition, will provide a platform for government officials, industry experts and business leaders from various countries and regions to discuss key trends, including energy projections, green building technologies and the circular economy. The conference is supported by the Ministry of Ecology and Environment, National Development and Reform Commission, and Ministry of Industry and Information Technology of the People’s Republic of China. Officials from Belt and Road countries, including Malaysia, Laos, Saudi Arabia, Myanmar, Brunei and Vietnam will also attend the conference.Three focal points in pursuit of dual carbon goalsTo achieve dual carbon goals, the development of green energy and green transportation has become a global trend. New energy is a focus of this year’s exhibition and many innovative new energy-related products and technologies will be featured. For example, Hong Kong’s first hydrogen fuel cell street-cleaning vehicle will be showcased at the booth hosted by the Environment and Ecology Bureau in conjunction with other HKSAR government units.The Inner Mongolia Pavilion will showcase cutting-edge solutions in environmental protection, ecological restoration and new energy. Innovative technical solutions, such as hydrogen purification systems and carbon capture and storage equipment, will be highlighted at the Canada Pavilion. In the Green Transportation zone, GMI Motors Ltd and first-time exhibitor Xiamen Golden Dragon Bus Co. Ltd will present a variety of electric vehicles. Chun Yang International (HK) Company Ltd will demonstrate fast charging and mini wall-mounted EV chargers catering to different needs.Waste Management and Circular Economy is a second focal point of the Expo, with exhibitor Smart Farming HK Ltd showcasing fish feed made from food waste and a sustainable fish farming concept. First-time exhibitor Nanda (Hong Kong) Technology Corporation Ltd will feature a food waste biodegradation machine that can process up to 36,000 kg of food waste per day.The Sustainable Restaurant Awards 2024, the first of its kind in Hong Kong's F&B industry to recognise restaurants based on their carbon footprint, will be presented on the third day of the Expo.The third focal point of the Expo is ESG-related services which is experiencing strong demand. Several world-leading certification and consultancy companies will exhibit for the first time, including SGS Hong Kong Ltd, Intertek Testing Services Hong Kong Ltd, TUV Rheinland Hong Kong Ltd and BSI Pacific Ltd to present their testing and certification services as well as ESG consulting and training programmes. ESG AI, an innovative tool launched by China Energy Conservation & Environmental Protection (Hong Kong) Investment Co. Ltd, makes use of big data analysis and other technologies to generate regulatory-compliant ESG reports in one click.Nurturing talent to inject fresh energyEco Expo Asia has long been a platform for start-ups to showcase their latest innovations. Hong Kong Science and Technology Parks Corporation will showcase products and technologies from 10 start-ups related to green transport, circular economy and energy efficiency.In the popular Start-up Zone, exhibitor Ezygreenpak Ltd will demonstrate its patented water-soluble non-woven packaging material that can be completely dissolved in 90°C hot water without leaving any harmful residue. BSF Innovation Ltd's organic green building powder, consisting of fibre and calcium extracted from insect shells and food waste, can be blended with traditional building materials to make eco-bricks, reducing the manufacturing process carbon emissions by around 40%.A series of seminars and workshops on Public DayTo encourage residents to adopt green living practices, talks and workshops will be held on the last day of the Expo (2 November), which are free and open to the public. A highlight will be the Dialogue with the Secretary for Environment and Ecology for school students. Experts will share their strategies and experience in tackling extreme weather. The public can also participate in a variety of green workshops and shop for green products at Green Mart.Photo download: https://bit.ly/3BWSrpjJenny Koo, Assistant Executive Director of the HKTDC, introduced Eco Expo Asia highlights at the press conference. She said Hong Kong’s environmental-related industries were expanding in diversity, establishing the groundwork for the city’s sustainable development.The Chief Executive’s 2024 Policy Address released yesterday emphasises the need to promote the development of new energy and expand the electric vehicle charging network. Ms Koo stated that the HKTDC has been committed to promoting sustainable development in the business sector. In October, the HKTDC will work closely with the Environmental and Ecology Bureau to hold Eco Expo Asia, and provide support services and sourcing platforms to assist industry players in promoting and sourcing green products and solutions. In addition to Eco Expo Asia, the HKTDC aims to facilitate international connections through large-scale flagship events, promoting Hong Kong's role as an international centre for green finance and green technologyJenny Koo, Assistant Executive Director, HKTDC (centre); Fong Kin-wa, Deputy Director of the Environmental Protection Department of the HKSAR Government (left), and Judy Cheung, Deputy General Manager, Messe Frankfurt (HK) Ltd (right), attended the press conferenceGMI Motors Ltd displayed a brand-new, 32-seater electric bus with a large capacity batteryStart-up Ezygreenpak Ltd demonstrated its innovative water-soluble non-woven packaging material that can completely dissolve in 90°C hot waterTen companies resident at Hong Kong Science and Technology Parks Corporation sites will take part in the exhibition. Growgreen Ltd and One Energy (HK) Ltd showcased products related to circular economy and green transportation at the press conferenceSmart Farming HK Ltd introduced food waste recycled feed and fish farming sustainabilityWebsiteEco Expo Asia: www.ecoexpoasia.comMedia enquiriesPlease contact the HKTDC’s Communications and Public Affairs Department:Stanley SoTel: (852) 2584 4049Email: stanley.hp.so@hktdc.orgClayton Lauw Tel: (852) 2584 4472 Email: clayton.y.lauw@hktdc.orgThe HKTDC’s Media Room: http://mediaroom.hktdc.com/enAbout 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.Background information on Messe FrankfurtThe Messe Frankfurt Group is one of the world’s leading trade fair, congress and event organisers with their own exhibition grounds. With a workforce of some 2,160 people at its headquarters in Frankfurt am Main and in 28 subsidiaries, it organises events around the world. Group sales in financial year 2022 were around €454 million. We serve our customers’ business interests efficiently within the framework of our Fairs & Events, Locations and Services business fields. One of Messe Frankfurt’s key strengths is its powerful and closely knit global sales network, which covers around 180 countries in all regions of the world. Our comprehensive range of services – both onsite and online – ensures that customers worldwide enjoy consistently high quality and flexibility when planning, organising and running their events. We are using our digital expertise to develop new business models. The wide range of services includes renting exhibition grounds, trade fair construction and marketing, personnel and food services. Sustainability is a central pillar of our corporate strategy. Here, we strike a healthy balance between ecological and economic interests, social responsibility and diversity.For more information, please visit our website at: www.messefrankfurt.com/sustainability. With its headquarters in Frankfurt am Main, the company is owned by the City of Frankfurt (60 percent) and the State of Hesse (40 percent). For more information, please visit our website at: www.messefrankfurt.com Copyright 2024 ACN Newswire via SeaPRwire.com.
Brisbane, Queensland, Australia--(ACN Newswire via SeaPRwire.com - October 16, 2024) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide a business update on the commercialisation progress of THERMAL-XR® Powered by GMG Graphene.CUSTOMER ENGAGEMENT UPDATEGMG continues to carry out both Supply and Service Coating for various Air Conditioning Manufacturers, Distributors, Contractors and end equipment owners - including the large HVACR condensing units showing the black coating of THERMAL-XR on the condenser coils seen in Figure 1.Figure 1: GMG Team Members in front of large HVACR condensing units coated with THERMAL-XRTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/226793_4a202364a43cd862_001full.jpgAt an event on 4th October 2024 in Brisbane, Australia that included the broad participation of HVAC industry representatives, GMG successfully RE-launched THERMAL-XR® ENHANCE. The focus of the event was on Thermal-XR's unique heat transfer and corrosion protection capabilities. When first developed, the product was named THERMAL-XR® RESTORE because the Company believed its principal benefit was to restore the heat transfer capabilities of existing installed air conditioners. However, GMG has since proved with third party verification that the product can also enhance the heat transfer of new equipment; hence the re-branding to THERMAL-XR® ENHANCE.As a result, GMG now believes that THERMAL-XR® ENHANCE has exciting opportunities with HVAC Original Equipment Manufacturers ("OEMs") in addition to its potential in the HVAC aftermarket. Over the past several months, GMG has completed on-site testing of THERMAL-XR® with global Air Conditioning Manufacturers in China and the USA for potential introduction into their factories. While further customer testing will be required, GMG believes early results are promising.Apart from applications in the HVAC industry, the unique heat transfer capabilities of THERMAL-XR® ENHANCE has also led to potential new applications in a wide range of industries where reducing heat is important. For example, customer managed Third Party Laboratory Testing with THERMAL-XR® is now being done with companies that operate LNG facilities; companies that manufacture electronic products; and companies that produce motors for the industrial and automotive markets. Further testing will be required to confirm the benefits of using THERMAL-XR® ENHANCE in such applications.Figure 2: RE-LAUNCH of THERMAL-XR® ENHANCETo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/226793_4a202364a43cd862_002full.jpgAs shown in Figure 2, THERMAL-XR® ENHANCE will now be available in 5 litre pails, instead of the original 10 litre containers. Customers have expressed their preference for lighter weight pails because they believe they are easier to lift onto roof tops for spraying in-situ air conditioners. Generally, 5 Litres of THERMAL-XR can be used to spray up to 5 small to medium size air conditioners, covering approximately 50 square metres of solid plate.As previously announced, GMG and Nu Calgon have signed an agreement and are working with a consultant to prepare and submit a Pre-Manufacture Notice ("PMN") in conjunction with its USA Environmental Protection Agency's ("EPA") application to import and sell in the USA. The PMN application is expected to be submitted before the end of October, and the approval is expected to take less than 12 months. The PMN will be substantially different from the Low Volume Exemption ("LVE") PMN that was previously submitted by GMG. Unlike the LVE PMN application that was limited to 10 tons per annum and one application technique in the HVAC sector, the PMN EPA approval that GMG is now seeking will not be limited by volume, application and any one particular sector.INDUSTRY RECOGNITIONTHERMAL-XR® is a finalist in the AIRAH Product of the Year - to be announced on 21st November 2024. AIRAH, the Australian Institute of Refrigeration, Air Conditioning and Heating, is the peak body representing the HVAC&R industry in Australia. Officially incorporated by guarantee on March 29, 1920, AIRAH celebrated its Centenary anniversary in 2020.The AIRAH Awards provide our industry with the opportunity to reflect, applaud, and raise a toast to our peers and their achievements - from promising future leaders to established sector veterans; from the finest new projects to the best retrofits; as well as the greatest in refrigeration, renewable energy, and research. Independent industry specialists determine a shortlist of finalists, from which a winner is selected by an expert judging panel. This rigorous and impartial process makes the AIRAH Awards the most highly prized accolades in Australia's HVAC&R building services industry.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/226793_4a202364a43cd862_003full.jpgGMG's Managing Director and CEO, Craig Nicol, commented: "We believe GMG continues to make good progress in testing its products in large global OEM's for various types of products in various applications whilst our technical understanding of the coating improves - creating an exciting cycle of innovation and learning with our customers and how we make the graphene and coating, how it is applied and also how it is marketed and sold."GMG's Chairman and Director, Jack Perkowski, commented: "THERMAL-XR® testing in so many of these applications is very exciting to see and I am encouraged by its potential for progress in these markets."TEAM UPDATEGMG would like to thank Bobby Bran, Chief Projects Officer ("CPO"), for his near 6-year service at the Company. In the Company's continued efforts to transform into a commercial operation, the Company has decided to outsource major project activity going forward and as such will no longer need a CPO.On behalf of GMG and its Board of Directors, Craig Nicol and Jack Perkowski would like to thank Bobby for his dedication and service during his near 6-year tenure at the Company.About THERMAL-XR® powered by GMG Graphene:THERMAL-XR® COATING SYSTEM is a unique method of improving the conductivity of corroded heat exchange surfaces and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces while improving and rebuilding the lost corroded thermal conductivity and increasing the heat transfer rate by leveraging the physics of GMG Graphene, resulting in an efficiency improvement and a potential power reduction.THERMAL-XR RESTORE® is powered by GMG Graphene. PATENT PENDINGAbout GMG www.graphenemg.comGMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications.The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving coating), lubricants and fluids.In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").GMG's 4 critical business objectives are:Produce Graphene and improve/scale cell production processesBuild Revenue from Energy Savings ProductsDevelop Next-Generation BatteryDevelop Supply Chain, Partners & Project Execution CapabilityFor further information please contact:Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.Cautionary Note Regarding Forward-Looking Statements This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the potential for THERMAL-XR® to enable energy producers to produce additional energy more efficiently, the potential for THERMAL-XR® ENHANCE to enhance the heat transfer of new equipment and its opportunities with HVAC industry and other industries where reducing heat is important, the timing of submission of the Company's PMN application, the receipt, timing and nature of approval by the EPA of the PMN application, the Company's goal of achieving optimal production line performance for THERMAL-XR® and the entering of full production. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the development of extensions and enhancements to the THERMAL-XR® portfolio into a wider range of applications, that energy producers will be able to derive the expected benefits from the Company's products, that the Company's PMN application will be submitted on the timetable anticipated, that the EPA will approve the PMN application and on the timing anticipated, that the content of the EPA's approval will be as anticipated, and that the Company will be able to achieve optimal production line performance for THERMAL-XR® and enter full production. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that there will be no developments of extensions or enhancements to the THERMAL-XR® portfolio into a wider range of applications, that energy producers will not derive the expected benefits from the Company's products, that the Company's PMN application will not be submitted on the timetable anticipated or at all, that the EPA will not approve the PMN application on the timing anticipated or at all, that the content of the EPA's approval will not be as anticipated, that the Company will be unable to achieve optimal production line performance for THERMAL-XR® or enter full production, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 3, 2024 available for review on the Company's profile at www.sedarplus.ca.Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226793 Copyright 2024 ACN Newswire via SeaPRwire.com.
- Eng Kong is the first depot in Singapore to trial and customised this technology, after several locations such as Korea's HMM PSA New-port Terminal in Busan who has also adopted similar technology.- The Singapore version is environmentally friendly as it will address carbon emissions, carbon footprint and reduce air pollution due to paperless processing.- Significant productivity, safety and manpower advantages with process times halved. Drivers can remain in their vehicles while streamlining the depot administration process.- Eng Kong plans to expand the system to its other Singapore depots by 1Q2025, potentially boosting efficiency and boosting throughput.SINGAPORE, Oct 17, 2024 - (ACN Newswire via SeaPRwire.com) - EKH Pte Ltd. (“Eng Kong” or the “Company”, and together with its subsidiaries, the “Group”), one of Asia-Pacific’s largest shipping container depot operators, has installed and customised Singapore’s first automated container seal dispenser systems to fit their depot’s Container Management Systems (CMS) systems.The Group intends to expand the system to its other three Singapore depots by 1Q2025 and eventually its mega depot 3Q2026. Eng Kong’s mega depot, spanning 80,000 square metres, will be Singapore’s largest depot. The system will have significant productivity, safety and manpower advantages compared to traditional methods.Container seals are required to prevent theft and unauthorized access to the container contents. Previously, the seal collection process was highly manual, administrative and time-consuming, taking an average of 30 minutes before drivers could obtain seals.Eng Kong's wholly owned subsidiary, Eng Kong Container Agencies Pte Ltd, has installed and customised Singapore’s first fully automated seal dispenser system which has helped cut collection time by half. The system is fully localized for Eng Kong’s depots, ensuring seamless integration with their current logistics infrastructure.Drivers now follow a seamless and safer flow, and no longer need to disembark their vehicles - much like a drive through. Upon entering the depot, time-consuming procedures are now eased up with the use Automated Gate Registration, Acceptance and Payment Functions with the use of Depot Appointment Information and Licensed Plate Recognition (LTR) Licensed Plate Recognition (LPR) technology and a cashless payment system. The driver then collects and quality-checks the container and seals at the automated seal dispenser.Labour shortage pressures could be further eased through automation, drivers will be able to transport more containers, and administrative staff could be trained for more strategic positions.In Singapore, a total of 39.01 million TEUs were processed in 2023(1). At Eng Kong’s domestic depots, the introduction of automated seal dispensers is expected to significantly boost efficiency. As each minute saved per container adds up significantly, it has been estimated that this new initiative can save up to an estimated 50,000 of man-hours per annum for the entire process from the time the driver arrives, processing, mounting the containers and collecting the seal from the dispenser machine near the entrance. These time savings will enable for reskilling the staff to other job opportunities, enhancing workforce capabilities and booth the driver(s) earning, while increase efficiency.Additionally, Singapore’s handling capacity is expected to double once the PSA Tuas Port is completed in 2040(2). Traffic congestion around busy depots will be eased and safety for drivers improved as they no longer alight their vehicles. Labour shortage pressures could be further eased through automation, drivers will be able to transport more containers, and administrative staff could be trained for more strategic positions.Paul Ng, Co-Chairman of Eng Kong said, “As one of Singapore’s largest depot operators, we are committed to improving operational efficiency, reducing manual labour dependency and improving the safety of our depots. As Singapore’s depots transition to Tuas, which is set to be the world’s largest automated port, investing in automated solutions will allow Eng Kong to remain at the forefront of this digital transformation. The world is watching Singapore and depot operators have a role to play in embracing technology and integrating advanced solutions, driving progress across the industry.”(1) S’pore port handled record 39.01 million shipping containers in 2023, Straits Times, 13 Jan 2024(2) World’s largest automated terminal: PSA Tuas Port pioneering automation transformation with event-driven architecture, Seatrade Maritime News, 14 Feb 2024About Eng KongFounded in 1975, Eng Kong is an integrated logistics operator and a key provider of container related services to global firms operating in the Asia-Pacific region. In 1986, Eng Kong broadened its business portfolio to become regional player. Eng Kong operates 20 fully integrated container depots spanning across Singapore, China, Malaysia, Hong Kong, Thailand, and Vietnam, totalling 705,100 sq. meters.Eng Kong provides comprehensive depot related services such as storage and handling, repair and maintenance, and new build container inspection and survey. Transportation. Over the years, we have established a sound reputation for reliable, cost-efficient service.For more information, please visit https://www.engkong.com. Issued for and on behalf of EKH Pte. Ltd.By Financial PRFor more information, please contact:Kamal SAMUEL / LEE Ke Wei E-mail: kamal@financialpr.com.sg / kewei@financialpr.com.sgTel: +64 6438 2990 Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Oct 16, 2024 - (ACN Newswire via SeaPRwire.com) - The Hong Kong Trade Development Council (HKTDC) welcomes the 2024 Policy Address, delivered today by the Hong Kong Special Administrative Region’s (HKSAR) Chief Executive John Lee.The Policy Address presents a comprehensive set of measures, ranging from the economy and trade and people’s livelihood to high-calibre talent attraction and youth development. Leveraging Hong Kong’s one country, two systems advantages, the policies will fuel the city’s continued economic growth.Dr Peter K N Lam, Chairman of the HKTDC, said: “The Policy Address highlights the Hong Kong SAR Government’s efforts in seeking innovation and change, while striving for excellence. It addresses a wide range of areas covering economic growth, trade and investment, SME support, culture and creative as well as construction and planning. Riding on Hong Kong’s eight centre advantages, the Policy Address promotes new quality productive forces and high-quality economic development.”The annual address announced various measures to reinforce the city’s status as an international financial, shipping and trading centre. Dr Lam believed the move echoes the 20th Central Committee’s Third Plenary Session’s Resolution to develop Hong Kong into a supply chain service centre: “The HKTDC will continue to proactively promote Hong Kong’s eight centre advantages and enhance the development of high value-added supply chain services. We will step up cooperation with InvestHK to set up a mechanism and enhance the interface for attracting mainland enterprises to establish their international or regional headquarters in Hong Kong and provide one-stop diversified professional advisory services to help them go global via the Hong Kong platform.”He added that the HKTDC will strengthen advisory services of its Transformation Sandbox (T-box) programme to cover a wider range of areas and support Hong Kong enterprises as well as mainland companies in Hong Kong in regard to business transformation, sustainable development and operational upgrade. Businesses are encouraged to leverage the HKTDC’s trade platforms and events to go global and explore international market opportunities, especially in the high-potential ASEAN region.Dr Lam welcomed the HKSAR Government’s SME support measures, including the relaunch of the Principal Moratorium scheme, a HK$1 billion injection into the BUD Fund and an additional HK$500 million provision for the Incentive Scheme for Recurrent Exhibitions 2.0. He believes the measures will foster SMEs’ sustainable development and reinforce Hong Kong’s role as a leading convention and exhibition hub.The Policy Address stated the Hong Kong Shopping Festival will be relaunched in the next two years to help SMEs tap into the mainland e-commerce sales market. Dr Lam said: “The inaugural Hong Kong Shopping Festival organised by the HKTDC in August this year received an enthusiastic response. Not only did it raise participants’ brand exposure, but also provided them with practical experience in e-commerce operations. We will build on this year’s success and host the second edition of the Festival next August, and in the ASEAN market in due course, to enable Hong Kong SMEs to explore market opportunities via e-commerce and social media platforms.”To help SMEs understand e-commerce marketing, the HKTDC will publish research reports and analyses on e-commerce ecosystems in different markets, such as ASEAN, to help businesses lay a solid foundation in e-commerce operations. Through its Digital Academy and Design Gallery’s (DG) cross-border e-commerce shops on Taobao and JD International, the HKTDC has been offering comprehensive support to Hong Kong SMEs to leverage diverse e-commerce and digital marketing channels to explore mainland opportunities. DG’s 70 physical sales network in the mainland serve as an ideal platform to promote Hong Kong brands in the region. As for the ASEAN market, the HKTDC’s DG Studio programme helps connect local businesses with ASEAN physical retailers and e-commerce platforms.In terms of strengthening SMEs’ brand development, the HKTDC will continue to organise some 40 international exhibitions and conferences in Hong Kong every year. We will also set up more Hong Kong Pavilions in mainland and overseas exhibitions and further enhance business matching, to support SMEs in developing their brand and tapping global opportunities.On promotion of Hong Kong's cultural and creative industries, as mentioned in the Policy Address, more Hong Kong, mainland and overseas cultural and creative products will be added to the Asia IP Exchange (AsiaIPEX), managed by the HKTDC, to facilitate cross-sector exchanges and cooperation and contribute to Hong Kong’s development into a regional IP trading centre. Currently, the platform displays more than 28,000 IP projects available for trading. The HKTDC will continue to promote cultural and creative products as well as IP transformation and trading on its platforms, such as the Business of IP Asia Forum, Hong Kong International Licensing Show and the Hong Kong International Film and TV Market.Dr Lam also welcomed measures addressing new quality productive forces, the Northern Metropolis, digital economy and silver economy, which will help Hong Kong businesses further explore opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and Belt and Road countries and regions.Addressing the reduction of the liquor duty rate, Dr Lam believes that the move will strengthen related trade and further promote Hong Kong as a regional wine trading hub. He added that the 16th Hong Kong International Wine and Spirits Fair will be held from 7 to 9 November, which will showcase fine wines from around the world, including liquors and white wines in the mainland pavilions, whiskeys from Japan and Ireland and spirits from around the world. Fair seminars will highlight the prospects of Hong Kong’s spirits market, while Chinese liquor promotional events will help the industry seize new opportunities.In conclusion, Dr Lam said: "The HKTDC will continue to support and complement national development and the Hong Kong SAR Government's policies. We will work closely with the business community to leverage Hong Kong's advantages and promote sustainable economic growth."Media enquiriesPlease contact the HKTDC’s Communication & Public Affairs Department:Sam HoTel: (852) 2584 4589Email: sam.sy.ho@hktdc.orgTo view press releases in Chinese, please visit http://mediaroom.hktdc.com/tcAbout HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Copyright 2024 ACN Newswire via SeaPRwire.com.
Kincora to raise A$1.27 million (C$1.19 million) via strategic investment by Fleet Space, existing major shareholder, directors and new investors participationRaise conducted at A$0.038 (C$0.036) with 1:2 attaching option at A$0.075 (C$0.07)Fleet Space to invest A$400,000 (C$373,832) to take initial ~4% strategic stake in KincoraExpanded partnership with Fleet Space including Kincora's recently secured and wholly owned Wongarbon ProjectMultiphysics survey agreement comprising Ambient Noise Tomography (ANT) and gravity surveys with Fleet Space's end-to-end mineral exploration solution, ExosphereFleet Space has the right to fund a minimum 2,000m drill program to earn a 20% stake in the ProjectThe Wongarbon Project is interpreted to host one of the last remaining untested and large intrusive complexes of the Macquarie Arc situated on an interpreted common transverse structure that is a key control to the 14.7Moz gold equivalent inventory within Alkane Resources Limited's Northern Molong Porphyry Project (NMPP) 1Final interpretations are pending for a recent Fleet Space ANT survey at the NMPP and multiphysic surveys at the Nyngan Project ahead of imminent drill testingMelbourne, Australia--(ACN Newswire via SeaPRwire.com - October 16, 2024) - Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (Kincora or the Company) is pleased to have expanded its partnership with Fleet Space Technologies Pty Ltd (Fleet Space) to include: (i) a listed equity investment, (ii) multiphysics surveys at the Wongarbon Project to identify and refine targets, and, (iii) the right to drill test targets to earn an asset level interest in the Wongarbon Project.Fleet Space is Australia's fastest growing company 2 and widely recognised as Australia's leading space exploration company. Fleet Space seeks to revolutionise mineral exploration with its vertically integrated technology stack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition and AI to map mineral systems in real-time to streamline exploration and improve success rates for new economic discoveries.The Wongarbon Project has never been drilled, is located in the interpreted extension of the Northern Molong Belt of the Macquarie Arc, NSW, and is considered to be highly prospective for a new large-scale porphyry copper-gold complex and series of discoveries.Sam Spring, President and CEO of Kincora, commented: "Kincora and Fleet Space strongly believe the Wongarbon Project has the potential to be a new porphyry district and it is a prime candidate for major discovery. We are very pleased to have entered this innovative and multiple phase agreement. The results of our recent multiphysics surveys at our Nyngan Project are pending and the structure of this expanded partnership with Fleet Space provides unique alignment. We look forward to shortly advancing the first new exploration at the Wongarbon Project in almost 30-years with a pathway for refining and drilling true and large-scale virgin targets. This is Kincora's fifth recent partnership further demonstrating how we work with technical partners to apply industry leading exploration techniques to systematically advance, fund and de-risk our project pipeline of highly prospective porphyry targets. Further deals and partnerships are proposed for other Kincora projects and we thank existing shareholders for their support in the capital raising and welcome some good new groups to the register."Fleet Space Director, CFO and Financial Strategy & Investment Officer, Federico Tata-Nardini, said:"In a major advance for exploration in the Macquarie Arc, we are excited to deploy Fleet Space's proprietary ExoSphere technology stack and multiphysics surveys at the Wongarbon Project, building upon our relationship with Kincora. These agreements reflect a complete end-to-end deployment of ExoSphere, from target generation to drill testing on a project that offers new district scale potential and has never been drilled. Fleet Space has invested very significantly in the Macquarie Arc and established a unique knowledge of a number of the key porphyry systems and emerging discoveries. We have completed five surveys, including recently at the Boda-Kaiser deposits. Why? Because we believe there are further Cadia-scale deposits to be found and that our Exosphere technology will play a fundamental role in uncovering the next one as we continue to enhance mineral systems knowledge worldwide.Wongarbon's geological and geophysical setting is favourably located in a highly prospective area of the Arc. It has clear analogues of the nearby porphyry complexes and existing Tier 1 deposits. We believe the project is at the stage where we can add significant value and mutually share major discovery potential with Kincora."Capital Raising In conjunction with these agreements with Fleet Space, the Company is pleased to announce that it has received binding commitments for a two tranche share placement comprising 33.5m shares at an issue price of $0.038 (C$0.036) per share to raise A$1.27m (C$1.19m) (before costs) with 1:2 attaching option at A$0.075 (C$0.07) with a 2-year term (the "Placement"). The issue price is a 12% discount to the last close price (October 10th, 2024) and 16% discount to the 15 day VWAP (on the ASX).The Offering has been led by strategic investments for A$400,000 (C$373,832) by Fleet Space's investment fund, a new arms-length investor, and Big Ben Holdings, a long-term shareholder of Kincora's maintaining its 12.9% stake.Allotment of tranche 1 of the Placement to professional and sophisticated investors will take place on October 22nd, 2024, with 12.6m shares being issued under Kincora's Listing Rule 7.1 placement capacity. Tranche 2 of the Placement (comprising 20.9m shares and 16.8m attaching options) will be subject to shareholder approval pursuant to a General Meeting, with further details to be provided to shareholders in a Notice of Meeting to be lodged shortly.Subject to shareholder approval, Directors intend to purchase C$50,000 of shares under tranche 2 of the Placement with Fleet Space and Big Ben Holdings also agreeing to participate in tranche 2. Fleet Space has agreed to a 12-month voluntary escrow period.Morgans Corporate Limited acted as Lead Manager to the Placement. A cash transaction cost of 3.9% of the Placement is payable.In addition to the Placement, the Company will issue 11m accrued remuneration shares to Kincora's board and senior management under the Equity Incentive Plan approved by shareholders.Post the proposed issuances, Kincora's total outstanding number of fully issued shared is anticipated to be 291.7m with 69m total options outstanding.Use of FundsThe funds used from the Placement is intended to support:(i) drilling and exploration at the Condobolin Project;(ii) Ambient Noise Tomography (ANT) and gravity surveys at the Wongarbon Project with target refinement ahead of Fleet Space's right to drill a minimum of 2000 metres to earn a 20% stake in the Project; and,(iii) offering costs, working capital, new direct application license acquisition and general project generation opportunities.The New Partnership Fleet Space and Kincora have entered an agreement to commence multiphysics surveys at the Wongarbon Project with a path to asset level partnership:1) Fleet Space will have a right to fund a minimum of 2,000m drill program, with drill targets:identified and refined from the multiphysics surveys using Fleet Space's ExoSphere Discovery technology; and,mutually agreed by Kincora and Fleet Space.2) An exercise of the right in 1) will entitle Fleet Space to a 20% equity interest in the Wongarbon Project.3) The right in 1) may be exercised within 6 months of the completion of the multiphysics surveys.4) Should Fleet Space exercise the right, the parties will enter into a Joint Venture Agreement (JV Agreement). Key principles governing the JV Agreement will be customary for such stage exploration project including both parties having the right to provide additional funding maintain their respective ownership interests and dilution provisions should either party not participate in additional project funding, noting that any holder of a project interest less than 10% will have its interest converted to a 1% Net Smelter Return (NSR) royalty.Fleet Space is to be the operator of the multiphysics surveys, with support from Kincora, and Kincora the operator of the drilling program.The multiphysics surveys will comprise real-time 3D Ambient Noise Tomography (ANT) and ground gravity surveys applying industry leading technology to generate and interpret new homogeneous and primary datasets via Fleet Space's proprietary and vertically integrated technology stack, ExoSphere, and be integrated with existing regional geophysical surveys and geological data.While interpretations are ongoing by Kincora, Fleet Space and AngloGold Ashanti the multiphysics surveys have confirmed and refined a regionally significant priority target ahead of imminent drilling. The surveys have also generated a number of previously unrecognised areas of interest and potential new target areas with a final review to integrate the results of the commenced drilling program results in conjunction with AngloGold Ashanti.About the Wongarbon ProjectPegged as open ground and secured only in June 2024, the Wongarbon project (EL9652) covers 173km2 and is interpreted to host one of the last remaining untested and large intrusive complexes of the Macquarie Arc:Regionally significant magmatic complex situated on the interpreted under cover extension of the northern Molong Belt coincident with an intrusive level cross arc structure supporting a series of large and untested porphyry targets.Clear analogues of the nearby complexes and existing Tier 1 deposits in the Arc and aeromagnetic signatures of other globally significant porphyry deposits.Previously identified as a large-scale new intrusive complex target by Newcrest but not drill tested at the time due to focus on the Cadia Far East and Ridgeway discoveries.Recent interpretations support immediate high priority targets for drilling.The Wongarbon project has never been drilled.Alkane and Magmatic Resources' have recently undertaken drilling at a total of seven porphyry targets along a common transverse structure that is interpreted to extend into the Wongarbon Project and be a key control to the 14.7Moz gold equivalent inventory at the Boda and Kaiser porphyry deposits 1. These recent programs have been encouraging with follow up exploration either planned and/or ongoing at these and other regional targets 3.Fleet Space has recently undertaken regional and infill ANT surveys at Alkane's Northern Molong Porphyry Project (NMPP), including the Boda and Kaiser deposits, with analysis and interpretation ongoing. Similar Fleet Space surveys across the Macquarie Arc, including Kincora's Nyngan Project, are noted as having refined and generated multiple new porphyry targets.Further details on the Wongarbon Project, including a detailed project level presentation, are available at: https://kincoracopper.com/wongarbon-project/ (Projects/Wongarbon).Further details on Kincora's wholly owned, district scale project portfolio and drill ready copper-gold porphyry projects are available on the Company's website: https://kincoracopper.com.About Fleet Space Technologies Fleet Space is private and widely recognised as Australia's leading space exploration company. Fleet Space seeks to revolutionise mineral exploration with its vertically integrated technology stack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition, and AI to map mineral systems in real-time.Fleet Space's ExoSphere technology enables an end-to-end approach to high-quality data acquisition, processing, interpretation and targeting to streamline exploration and improve success rates for new economic discoveries.Leveraging Fleet Space's proprietary satellite network in low Earth orbit, smart seismic sensors enabled with edge computing and rapid data processing, ExoSphere delivers real-time 3D mapping of mineral systems and AI-powered drill targeting with near-zero environmental impact.In the last quarter, Barrick Gold announced it would partner with Fleet Space to survey copper porphyry complexes across 1,150km² of the world-class Reko Diq project 4 and in the last month Gold Fields announced a similar relationship to advance exploration at the Salares Norte project in Chile 5.Recently, Inflection Resources' announced new targets generated by ExoSphere, leading AngloGold to accelerate their Exploration Agreement and drilling with Inflection 5. Inflection and Fleet Space have also recently announced the results of the world's largest real-time ANT survey across 1818km², built an AI-powered district scale copper prospectivity map which, when integrated with other existing datasets (including airborne magnetics and gravity), has resulted in four new priority targets, three of which are within 2km's of Kincora wider project portfolio in the northern Junee-Narromine Belt 6.ExoSphere's rapid global adoption has propelled Fleet Space's exponential growth, including a A$50 million Series C funding round, a doubling of its valuation to A$350 million, plans to send a variant of ExoSphere to the Moon in 2026, and recognition as Australia's fastest growing company 2.For more information please visit Fleet Space's website at https://www.fleetspace.com.About Kincora Kincora Copper is dual listed on the ASX and TSX-V (ticker "KCC") and is an active explorer and project generator focused on world-class copper-gold discoveries that has recently executed five agreements that unlock up to >A$60 million in multiple year partner funding. Further new projects that offer a clear value path and targeted partnerships are proposed.Kincora's portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia's leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting exposure to 10,000-30,000m pa of drilling.For more information please visit Kincora's website at www.kincoracopper.comReferences:(1) Annual Resources & Reserves Statement FY24 - Alkane Resources Limited (ticker ALK.ASX) release September 4, 2024(2) According to the Australian Financial Review (2023)(3) 2Q'2024 Quarterly Activities Reports - Alkane Resources Limited and Magmatic Resources Limited (ticker MAG.ASX)(4) ANT geophysics defines additional epithermal-porphyry targets at Spur Project - Waratah press release May 23, 2024(5) Reimaging porphyry copper exploration using Exosphere: Ambient Noise Tomography from the Duck Creek project, Macquarie - Fleet and Inflection Case Study 2023 (6) Completes 1,800Km2 Ambient Noise Tomography Survey Across Portfolio of Projects in New South Wales - Inflection press release July 10, 2024(7) Fleet Space's Exosphere Enhances Barrick Gold's Data-Driven Copper Exploration at Reko Diq - Fleet Space press release July 9, 2024(8) Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile - Fleet Space release October 3, 2024(9) Inflection Resources Defines New Priority Targets Based on Results of Regional ANT Survey in New South Wales - Inflection press release September 12, 2024This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)For further information please contact: Sam Spring, President and Chief Executive Officer sam.spring@kincoracopper.com or +61 431 329 345Executive office400 - 837 West Hastings Street Vancouver, BC V6C 3N6, CanadaTel: 1.604.283.1722 Fax: 1.888.241.5996Subsidiary office Australia Vista Australia Level 4, 100 Albert RoadSouth Melbourne, Victoria 3205Qualified Person The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora's Technical Committee, who are Qualified Person(s) for the purpose of NI 43-101.JORC Competent Person StatementInformation in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement) and the Company is not aware of any new information or data which materially affect the information included in those prior reports and, in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Person(s) under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. John Holliday and Peter Leaman consent to the inclusion in this report of the matters based on the information in the form and context in which it appears. The review and verification process for the information disclosed herein for Kincora's projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures.Forward-Looking StatementsCertain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226763 Copyright 2024 ACN Newswire via SeaPRwire.com.
Highlights:62.0m of 1.12% Cu, 0.79 g/t Au, and 23.9 g/t Sc (1.81 % CuEq*, not incl. Sc)in 154.0m of 0.66% Cu, 0.46 g/t Au, and 24 g/t Sc (1.07% CuEq*, not incl. Sc) Vancouver, British Columbia--(ACN Newswire via SeaPRwire.com - October 16, 2024) - Doubleview (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company or "Doubleview") is pleased to announce the first set of drill hole assay results from its 2024 drilling campaign at its 100% owned Hat polymetallic porphyry in northwestern British Columbia.Highlights and significant downhole intervals include the following:Drill hole H072:686.0m of 0.23% Cu, 0.16 g/t Au, 64 g/t Co, 0.33 g/t Ag and 25.7 g/t Sc (0.38% CuEq*)including 154.0m of 0.66% Cu, 0.46 g/t Au, 112 g/t Co, 0.96 g/t Ag and 24 g/t Sc (1.07% CuEq*)including 62.0m of 1.12% Cu, 0.79 g/t Au, 173 g/t Co, 1.62 g/t Ag and 23.9 g/t Sc (1.81 % CuEq*)including 2.0m of 5% Cu, 2.96 g/t Au, 511 g/t Co, 5.03 g/t Ag and 7 g/t Sc (7.48% CuEq*)Drill hole H073:109m of 0.29% Cu, 0.21 g/t Au, 83 g/t Co, 0.47 g/t Ag and 29.6 g/t Sc (0.5% CuEq*).Drill hole H074:128 m of 0.18%Cu, 0.14 g/t Au, 82 g/t Co, 0.29 g/t Ag and 29 g/t Sc (0.33% CuEq*)(Note 1: CuEq currently does not include the Scandium)H073, depth: 420m, strong chalcopyrite mineralization.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8003/226781_625f86a28402e955_001full.jpgThe recent drill holes were strategically directed towards untested central areas of the Lisle Zone, which are integral to the block model developed by our consulting team for the Mineral Resource Estimate (MRE). All three drill holes are situated within the mineral resource pit, as detailed in Doubleview's news release dated July 25, 2024. These drill results not only validate the existing block model but also provide additional data that enhances our confidence in its accuracy. In preparation for the upcoming enhanced resource estimate for the Hat deposit, our primary objective of demonstrating continuity, increasing the density of data, and further improving the quality of the geological models, has been successfully achieved. The three cross sections included in this release illustrate the intersected mineralization within the Hat polymetallic mineral deposit, highlighting the mineralized blocks for each drill hole.Figure 1: Drill hole H072To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8003/226781_625f86a28402e955_002full.jpgFigure 2: Drill hole H073To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8003/226781_625f86a28402e955_003full.jpgFigure 3: Drill hole H074To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8003/226781_625f86a28402e955_004full.jpgFarshad Shirvani, President and CEO, comments that, "The objectives of the 2024 drilling program are to enhance the data intensity where it is warranted, identify additional near surface copper and gold mineralization, and increase the tonnage and volume of the Hat deposit. These drill holes provide important geological information and data that bridge the area between drill holes H034 and H031, H012 and H071 while verifying the block model. We are pleased to see the years of work on the Hat project come to fruition, particularly to see the continuation of long intervals of strong copper mineralization."Table 1 lists significant assay intercepts of drill holes H072 to H074DDHFrom (m)To (m)Length (m)**Cu (%)Au (g/t)Co (g/t)Ag (g/t)Sc (g/t)CuEq (%) not incl Sc*H07262.0686.0624.00.230.16640.3325.70.38incl.80.0586.6506.60.270.19710.3825.80.45incl.161.7543.0381.30.340.25810.4726.10.57incl.382.0536.0154.00.660.461120.9624.01.07incl.382.0384.02.05.002.965115.037.07.48incl.411.0536.0125.00.700.501171.0623.91.14incl.440.0502.062.01.120.791731.6223.91.81incl.452.0463.011.02.361.953453.1717.03.99H073159.0424.0265.00.160.15760.2926.30.32incl.282.0424.0142.00.250.18820.4129.40.43incl.315.0424.0109.00.290.21830.4729.60.50incl.378.0424.046.00.420.31890.6927.50.70H07495.8409.0313.30.120.12880.2526.40.26incl.148.0195.047.00.090.121060.1722.70.24incl.281.0409.0128.00.180.14820.2929.00.33 Notes:- Metal equivalents should not be relied upon for future evaluations.- Drill hole intercepts included in this news release are core lengths that may or may not be true widths of mineralization. It is not possible to determine true widths.- Parameters used to calculate Copper Equivalent:Au price (US$/oz): 1900; Ag price (US$/oz): 24; Cu price (US$/lb): 4; Co price (US$/lb): 22.Au recovery: 89.0%; Ag recovery: 68.0%; Cu recovery: 84.0%; Co recovery: 78.0%.* Copper Equivalent CalculationCuEq in % = ([Ag grade in ppm] *24*0.68/31.1035 + [Au grade in ppm] *1900*.89/31.1035 + 0.0001* [Co grade in ppm] *22*0.78*22.0462 + 0.0001* [Cu grade in ppm] *4*0.84*22.0462)/(4*22.0462*0.84). Scandium is not part of the copper equivalent calculation.** Downhole core lengths, true widths are unknownTable 2 illustrates the location and direction of the reported drill holes:DDH IDUTM-EastUTM-NorthElevation (m)Max-Depth (m)Azimuth (°)Dip (°)H072347,8666,453,952956.576121275H073347,8666,453,952956.577122585H074347,8666,453,952956.560926285 H073, depth 563.8m: Chalcopyrite mineralization (+ spotty Pyrite) in Epidote veinTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8003/226781_625f86a28402e955_005full.jpgH074, depth 412m: Chalcopyrite mineralizationTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8003/226781_625f86a28402e955_006full.jpgQuality Assurance and Quality Control:Core samples were prepared at the North Vancouver facility of ALS Canada Ltd. using their PREP-31, PGM-ICP24, ME-MS61, and ME-ICP06 packages. Each core sample is dried, then crushed to 70% passing a 2mm screen. All material is processed in an automatic Riffle splitter to yield a 250g homogenized, representative sample. This sub-sample is then pulverized to 85% passing a 75-micron screen. All samples are analyzed for Au, Pt, Pd by 50g fire-assay fusion/ICP-ES finish, using PGM-ICP24 package. A separate 0.25g pulp split is analyzed by Four Acid digestion/ICP-MS finish, reporting 48 elements. Over limit elements are analyzed by Ore Grade Four Acid digestion/ICP-ES finish using ME-OG62 assay package. All of Doubleview's core samples are analyzed or assayed at independent ISO 17025 and ISO 9001- certified laboratories.Doubleview maintains a website at www.doubleview.ca.Qualified Persons:Erik Ostensoe, P. Geo., a consulting geologist, and Doubleview's Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, and approved the technical contents of this news release. He is not independent of Doubleview as he is a shareholder in the company.About Doubleview Gold CorpA mineral resource exploration and development company is headquartered in Vancouver, British Columbia, Canada. It is publicly traded on the TSX-Venture Exchange (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038), and (FSE: 1D4). Doubleview focuses on identifying, acquiring, and financing precious and base metal exploration projects across North America, with a strong emphasis on British Columbia. The company enhances shareholder value through the acquisition and exploration of high-quality gold, copper, cobalt, scandium, and silver projects-collectively critical minerals-utilizing cutting-edge exploration techniques.Doubleview's success is deeply rooted in the unwavering support of its long-term shareholders, supporters, and institutional investors. Their ongoing commitment has been instrumental in advancing the company's strategic initiatives. Doubleview looks forward to further collaborative growth and development and continues to welcome active participation from its valued stakeholders as the company expands its portfolio and strengthens its position in the critical minerals sector.About the Hat Polymetallic DepositThe Hat Deposit, located in northwestern British Columbia, is a polymetallic porphyry project with major resources of copper, gold, cobalt, and the potential for scandium. As one of the region's significant sources of critical minerals, the Hat deposit has undergone targeted exploration and development. The 0.2% CuEq cut-off resource estimate, as of the recently completed Mineral Resource Estimate and the Company's July 25, 2024 news release, is summarized below:Open Pit Model HatResource CategoryTonnageAverage GradeMetal ContentCuEqCuCoAuAgCuEqCuCoAuAgMt%%%g/tg/tmillion lbmillionlbmillionlbthousand ozthousand ozIn PitIndicated1500.4080.2210.0080.190.421,353733289292,045Inferred4770.3440.1850.0090.150.493,6191,945912,3287,575 Scandium potential for the Hat Deposit is estimated to be 300 to 500 million tonnes at an average grade of 40 ppm (0.004%) Sc2O3.For further details, please refer to the Company's July 25, 2024 news release.On behalf of the Board of Directors,Farshad Shirvani, President & Chief Executive OfficerFor further information please contact:Doubleview Gold CorpVancouver, BC Farshad ShirvaniPresident & CEOInstitutional Investor Line: (604) 607-5470T: (604) 678-9587E: corporate@doubleview.caNEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226781 Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Oct 16, 2024 - (ACN Newswire via SeaPRwire.com) - According to Ageas's press release, BNP Paribas notified Ageas on October 3, 2024, that its current shareholding in Ageas reached 10.91%. This change in shareholding is based on the agreement reached between BNP Paribas and Fosun International on April 14, 2024. Fosun International entered into an agreement with BNP Paribas to sell up to 15,401,253 shares of AGEAS SA/NV for a total consideration between EUR626 million and EUR670 million.Source familiar with the matter stated that Fosun International acquired Ageas shares at a low price in its early years. Dividends over the years and proceeds from the disposal have yielded Fosun a considerable return. The transaction was completed on October 3, 2024, and Fosun has received a full payment nearly EUR670 million in cash, the source said. Copyright 2024 ACN Newswire via SeaPRwire.com.
HO CHI MINH CITY, VIETNAM, Oct 16, 2024 - (ACN Newswire via SeaPRwire.com) - Over 100 industry delegates from across Asia gathered at the Asia Video Industry Association’s (AVIA) Vietnam in View conference, opened by the Deputy Director General of the Authority for Broadcast and Electronic Information (ABEI), Nguyen Ha Yen, on 9 October in Ho Chi Minh City.Despite the challenges of 2023 in the post-Covid landscape, the pay TV market in Vietnam continued to evolve, achieving a 4% increase in revenue and a 14% rise in subscriptions compared to 2022, as noted by Deputy Director General Nguyen. He emphasized that, amid fierce competition and rapid changes in consumer behaviour and technology, developing new business models for sustainable growth was essential for the future of pay TV. Both regulatory bodies and industry leaders will play crucial roles in shaping this strategic direction, he added.This was further reiterated by Thanh Vu, Deputy Regional Managing Director and Representative, US-ASEAN Business Council, in his market overview of Vietnam. Vietnam was fast approaching market maturity, with total subscriptions at almost 20 million, with 5.8% annual growth since 2018. And with pay TV penetration at 66%, there was still lots of room for growth, shared Thanh Vu. However, the clear winner was OTT and IPTV, which had become mainstream, and its revenue share accelerating from just 11% in 2019 to 45% by end of 2023, almost catching up with cable TV. Despite a sharp decline in subscriptions over the past 4 years and a modest subscription share of only 20% today, cable still accounted for over 50% of total Pay TV revenue.However regardless of platform, content very much remained the key driver for consumers, and critical to the business, said Pham Thanh Phuong, Managing Director, Viettel TV360. Offering the largest mobile and fixed-line network infrastructure in the Vietnamese market, with up to 80 million mobile broadband subscribers, bundling television and fixed broadband services was essential for them, and the smartest and fastest way to acquire the largest television customer base at the lowest cost and in the shortest time. But to keep their customers in the ecosystem, differentiation was important, especially from the international OTT platforms. “When we invest in local content, we can create a difference,” said Phuong.This sentiment was also clearly presented in the data from Kantar Media, on Who’s Watching What, Where and How in Vietnam. Local content reigned supreme across linear viewing, rounding up the top 10 most watched titles, with local Vietnamese series also driving over 30% of non-linear viewing. And from a platform perspective, the two most important devices were the Connected TV (CTV) and the smartphone, with CTV penetration at a striking 91% in the market. “It’s not a case of linear TV being replaced by video on demand, but that they complement each other. For the TV industry to develop, we must find out a way to serve the target audience according to their needs," said Tran Thi Thanh Mai, General Director, Kantar Media Vietnam.For Esther Nguyen, Founder & CEO, POPS Worldwide, their content strategy was always to look at the audience first, and the lifetime value of that audience, and serving the content that they want to watch, when they want to watch and on the platform of their choice. However, “playing in the digital world and operating among many different platforms is a double-edged sword,” shared Nguyen. “Platforms are global and have democratized content and what audiences watch. Audiences are now open to watching content from all over the world. We are no longer competing with just local content, but with global content,” she surmised in her closing keynote session.Vietnam in View is proudly sponsored by Lead Sponsor Cultural and Creative Industries Development Agency (CCIDA); Silver Sponsors A+E Networks Asia, INVIDI, PubMatic and TV5MONDE.Visit our media gallery for photos from event.About the Asia Video Industry AssociationThe Asia Video Industry Association (AVIA) is the trade association for the video industry and ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. AVIA is the interlocutor for the industry with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry.For media enquiries and additional background information, please contact:Charmaine KwanHead of Marketing and CommunicationsEmail: charmaine@avia.org | Website: www.avia.orgLinkedIn: www.linkedin.com/company/asiavideoia |Twitter: @AsiaVideoIA Disclaimer: The Cultural and Creative Industries Development Agency of the Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee. Copyright 2024 ACN Newswire via SeaPRwire.com.
Vancouver, BC, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - Transoft Solutions Inc. ("Transoft") - a global leader in transportation engineering, analysis, and operations software - announced today that it has acquired Advanced Mobility Analytics Group Pty Ltd ("AMAG"), a leading developer of video-based analytics software to facilitate improved traffic safety and management of road infrastructure, headquartered in Brisbane, Australia.Transoft Solutions Acquires AMAGThe secure cloud-based SMART platform developed by AMAG supports Vision Zero and Safe Systems approaches globally. Using computer vision, big data analytics, and advanced econometrics, its predictive analytics help organizations to create a safer and better managed road infrastructure."We are delighted to welcome AMAG's employees to Transoft," said Daniel Shihundu, P.Eng., CEO at Transoft. "We feel there is an excellent cultural fit, and combining our talented teams will accelerate research and development. The technologies present in our companies, independently, are truly remarkable, and merging the SMART and TrafxSAFE products under one umbrella will create a platform with unique capabilities. It will also allow us to explore synergies with our other products and create a software ecosystem where safety analytics can contribute to multiple stages in infrastructure development, from planning and design through to operations and maintenance. The Brisbane office, in addition to our current location in Sydney, will strengthen our presence in Australia and Asia-Pacific.""We are extremely excited to be joining Transoft," said Simon Washington, PhD, CEO of AMAG. "We enjoy cultural alignment, share the same vision, and with our combined technical expertise and software solutions, will be well positioned to serve the growing number of road safety and traffic operations projects in markets Transoft serves globally. Our latest continuous monitoring and decision support platform for traffic operations management has been gaining traction in several markets globally and is providing our customers with valuable infrastructure insights not possible with traditional sensor technologies. Through the Transoft offices and partner network, we are excited to offer this technology to additional markets across the globe."The integration of AMAG's business activities into the Transoft organization will ensure that its customers experience a seamless transition and a continued high quality of customer care and service. AMAG and their SMART platform are welcome additions to Transoft's portfolio and mark another step forward in the company's commitment to road safety initiatives like Vision Zero. Simon Washington will lead the combined AMAG and Transoft safety teams under a single Safety and Traffic Operations business unit at Transoft.About Transoft SolutionsTransoft Solutions develops innovative and highly specialized software for aviation, civil infrastructure, and transportation professionals. Since 1991, Transoft has remained focused on safety-oriented solutions that enable transportation professionals to work effectively and confidently. Our portfolio of planning, simulation, modeling, and design solutions are used in over 150 countries serving more than 50,000 customers across local and federal agencies, consulting firms, airport authorities, and ports. We take pride in providing the highest quality of customer support from our headquarters in Canada, and through our offices in Sweden, the United Kingdom, the Netherlands, Australia, Germany, India, Belgium, France, Spain, and China. For more information on Transoft's range of aviation, civil design, and traffic safety solutions, visit transoftsolutions.comContact InformationMedia Relationspublicrelations@transoftsolutions.com+1 604 244 8387 ext 2245Related ImagesTransoft Solutions Acquires AMAGSimon Washington will join Daniel Shihundu's Transoft team to helm Safety & Traffic OperationsSOURCE: Transoft Solutions Inc. Copyright 2024 ACN Newswire via SeaPRwire.com.
Brisbane, Queensland, Australia--(ACN Newswire via SeaPRwire.com - October 15, 2024) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce it has been recognized as one of the Most Innovative Companies in the Manufacturing & Consumer Goods category for 2024 by the Australian Financial Review, which is Australia's most-read premium business masthead.The AFR BOSS Most Innovative Companies list celebrates Australian businesses that are challenging the status quo. Now in its thirteenth year, this prestigious annual list ranks the most innovative organisations from Australia and New Zealand, and is the only national, cross-industry list of its kind.GMG's work in graphene production and product development has positioned the company at the forefront of this rapidly evolving field, enabling sustainable solutions in energy storage, electronics, and beyond."We are honored to receive this recognition, which reflects the hard work and dedication of our team," said Craig Nicol, CEO of Graphene Manufacturing Group. "This award validates our mission to harness the unique properties of graphene to develop innovative products that can positively impact the world."GMG's Chairman and Director, Jack Perkowski, commented: "Great to see the Company's innovative world leading work getting acknowledged in this way - congratulations to the team."Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/226664_cc296f8a948ea8f2_001full.jpgAbout GMGGMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications.The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving coating), lubricants and fluids.In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").GMG's 4 critical business objectives are:Produce Graphene and improve/scale cell production processesBuild Revenue from Energy Savings ProductsDevelop Next-Generation BatteryDevelop Supply Chain, Partners & Project Execution CapabilityFor further information please contact:Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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/226664 Copyright 2024 ACN Newswire via SeaPRwire.com.
Johannesburg, South Africa, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - In the rapidly evolving field of healthcare, technological advancements are continually transforming both medical education and the delivery of healthcare services. Innovative solutions, in the healthcare field, present new possibilities for enhancing learning, improving patient outcomes, and advancing medical practices. These cutting-edge methods allow students and healthcare professionals to gain a deeper understanding of complex medical concepts and sharpen essential skills. Simultaneously, they foster the growth of local industries, driving innovation and creating economic opportunities, while addressing critical healthcare needs in a more sustainable and efficient way.One such innovation is focused on revolutionising medical education and healthcare in South Africa through the application of advanced 3D printing technology. By utilising this state-of-the-art tool, students and professionals are gaining unprecedented opportunities to deepen their knowledge of human anatomy, hone their surgical skills, and enhance patient care. This not only raises the standard of education but also contributes to the growth of local manufacturing industries, promoting healthcare excellence and economic development. Moreover, it strengthens South Africa's manufacturing capabilities, particularly in the production of medical devices.This collaboration fosters innovation and empowers small and medium enterprises (SMMEs) to compete on a global scale. With a focus on customized medical solutions, the initiative supports local manufacturing, creating jobs, and building a sustainable medical device industry. By encouraging collaboration between academic institutions and businesses, the project enhances the manufacturing ecosystem and contributes to South Africa's overall economic growth while addressing vital healthcare needs.Overview of the event: 26th Edition of the South Africa Manufacturing ShowThe 26th Edition of the South Africa Manufacturing Show is part of a global series that has been held in over 10 cities across multiple continents in recent years. This exclusive, invitation-only in-person event, which will be held on November 21, 2024 in Qurtuba Convention Centre, Johannesburg is designed specifically for technology leaders from top businesses, institutions, and government officials representing South Africa’s manufacturing sector.The agenda for the South Africa Manufacturing Show has been carefully curated to pinpoint the essential strategies required for making informed business decisions, enhancing operational efficiency, and advancing digital culture. The Summit will gather more than 200 C-Level Executives, Directors, and Heads of Technology to explore the potential of AI, Web 3.0, IoT, Cyber Security, and other Fourth Industrial Revolution (4IR) technologies, providing the insights necessary to initiate meaningful change in the industry today.Who will attend?Pandelani Reuben Munyai, Group CIO, Transnet SOC Ltd.Dhevan Pillay, CEO, LTM Energy Group.Oltesh Thobias, Regional Chief Procurement & Contracts Officer, African Development Bank Group.Stavros Nicolaou, Group Senior Executive, Aspen Pharmacare Holdings Ltd.The event will cover topics like:From Factory to Future: Industry 4.0's Role in South Africa's Manufacturing Evolution.From Concept to Creation: The Synergy of AI, 3D Printing, and South African Innovation in Manufacturing.Powering South Africa's Green Industrial Revolution: Balancing Sustainability, Energy Resilience, and Manufacturing Growth.Unleashing Efficiency: Harnessing Data Analytics in Manufacturing Processes.Regional Manufacturing to Achieve Health Equity and Security on the African Continent.Building Supply Chain Agility: Crafting Resilient Supply Chains in South Africa.For more information on the 26th edition South Africa Manufacturing Show, click the LinkAbout ExitoExito, which means success in Spanish, embodies our commitment to the success of our customers. Each year, we host over 240 virtual and in-person conferences globally, bringing together audiences with world-class thought leaders and C-level executives across industries. Our meticulously crafted agendas, based on extensive research and valuable industry insights, facilitate business, knowledge transfer, deal flow, and impactful messaging for brands.For Media Enquiries, contact:Kasturi Nayak (Sr. Marketing Executive)Kasturi.nayak@exito-e.comEnquiry@exito-e.comExito Media Concepts Copyright 2024 ACN Newswire via SeaPRwire.com.
MELBOURNE, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - PropertyGuru Group (NYSE:PGRU), Southeast Asia’s leading property technology company, today announced the winners of its Australian real estate awards at the Grand Hyatt Melbourne.The gala ceremony of the 7th PropertyGuru Asia Property Awards (Australia), supported by Sub-Zero Wolf, showcased the achievements of developers and design practices in New South Wales, Queensland, South Australia, Victoria, and Western Australia.BHC Property, Best Developer WinnerBHC Property has been crowned Best Developer, in addition to earning the title of Best Luxury Townhouse Development (Victoria) for its distinguished Mercer project.Polytec Australia, Best Boutique Developer WinnerPolytec Australia won the title of Best Boutique Developer, with its project Beauchamp Sydney receiving the Best Luxury Apartment Architectural Design (New South Wales) award.MRCB International, Sustainable Design Award WinnerMRCB International made history by winning the inaugural Sustainable Design Award. Its project 26 Vista was recognised for Best Apartment Architectural Design.Sydney Ma, Managing Director of Top Spring Australia, Australia Real Estate Personality of the Year Award WinnerOSK Property gained the prestigious Best Apartment Development (Australia) title for BLVD, which also garnered accolades for Best Wellness Residential Development, Best Integrated Work from Home Development, and Best Apartment Interior Design.Hexa and IFD won the prestigious Best Townhouse Development (Australia) title for Lumina Townhomes, which was also named Best Townhouse Development (Victoria). Meanwhile, Hexa and Spectre Property took home the Best Industrial Development award for Found Huntingdale.Blairgrove Group emerged as one of the most awarded companies of the year, winning Best Retail Development for The Burwood Chinatown and Best Retail Interior Design for The Grand Shanghai Hotel.In addition to outstanding modern developments, this year’s awards showcased Australia’s historic properties. Blairgrove Group also won the Best Heritage Development award for the Leichhardt Hotel while The Playford Adelaide – MGallery by Hachem Architecture Pty Ltd won the Best Heritage Interior Design and Best Hotel Interior Design awards.Other winning design practices include CHT Architects, winning Best Office Architectural Design for 101 Cremorne, and Parallel Workshop Architects, winning Best Apartment Architectural Design (Victoria) for Sculpt Hawthorn.Multi-award winners include Kingsbridge by Hermitage Building Group, which took Best Housing Architectural Design and Best Housing Interior Design, and Elements at Carousel by Jean Yip Developments, which won Best Investment Apartment Development and Best Apartment Development (Western Australia).Golden statuettes were also presented to Burswood Point by Golden Sedayu for Best Mixed Use Development; Chatswood Garden by FY Property, Kooringa Group, MA Financial, CPDM for Best Townhouse Development (New South Wales); and Scape Victoria Street by Scape Australia Pty Ltd for Best Student Accommodation Development.Sydney Ma, managing director of Top Spring Australia, received the Australia Real Estate Personality of the Year award from the editorial team of Property Report by PropertyGuru, recognising his company’s impressive portfolio of community-focused and sustainable projects.Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “From high-tech buildings to heritage landmarks, Australian real estate beautifully blends the old and the new. As we host our second physical gala in Melbourne, we take pride in recognising the forward-thinking, culturally attuned companies that have set a benchmark for quality and sustainability in the built environment. Australia faces many global challenges head-on and has increasingly embraced the needs of diverse demographic segments such as seniors and students. We are delighted to showcase the best projects, designs, and achievements of our winners to property seekers, investors, and agents throughout Australia and the Asia Pacific.”Ivan Lam, chairperson of the Awards in Australia, said: "We are proud to present the most coveted awards in Australian real estate to these paragons of development and design excellence. The wide range of titles awarded this year proves how developers are excelling not only in creating new builds but also in revitalising Australia’s rich legacy of heritage buildings. Our award winners have also demonstrated leadership in promoting environmentally friendly, socially responsible development and addressing the housing needs of Australians across all ages and backgrounds. Australia’s finest real estate reinforces the country’s strong cross-border appeal to inbound investors and property seekers, and we are delighted to showcase such properties on the international stage.”The independent panel of judges consists of Ivan Lam, executive director, international business, Charter Keck Cramer; Lui Violanti, vice-chairperson of the Awards in Australia and regional manager for Western Australia, Inhabit Group; Benson Zhou, director, hotels, CBD and metropolitan sales, and state head, Asia markets, Savills Australia; Catherine Tan, senior interior designer, Interite; Jackson Liew, director, Cameron Chisholm Nicol; Karen Kong, head of property lending, Bendigo Bank; Karl Fu, partner, Asian markets, Winning Commercial; Michelle Tay, group executive director, The SILC Group; Peter Li, general manager, Plus Agency; Richard Newling Ward, director, Bayleyward; Shanker Ramakrishnan, director, SR Business & Finance Consulting Pty Ltd; and Steven Yu, founder and CEO, Valorton Group.The fairness, transparency, and integrity of the judging process was overseen by Josh Chye, partner and head of tax at HLB Mann Judd – HLB Australasia. The official supervisor is part of the “2024 Network of the Year” winner HLB International, the global network of independent professional accounting firms and business advisers.Winners of the awards will be eligible to compete in the 19th PropertyGuru Asia Property Awards Grand Final on 13 December 2024. This will be held in Bangkok, Thailand during PropertyGuru Week that also features the annual PropertyGuru Asia Real Estate SummitOrganised by PropertyGuru Group (NYSE:PGRU), the PropertyGuru Asia Property Awards (Australia) are made possible by silver sponsor Sub-Zero Wolf; supporting associations Australasia Property Advisory Association; Australia Malaysia Business Council Victoria, Australian Property Developers Association, and Melbourne Chinatown Association; official magazine Property Report by PropertyGuru; official publicity partner Good Talent Media; media partners Australian Property Investor Magazine, Australian Property Journal, Marketing In Asia, PhilTimes.com.au, The Property Tribune, and Your Investment Property Magazine; and official supervisor HLB.For more information, email awards@propertyguru.com or visit the official website: asiapropertyawards.com.COMPLETE LIST OF WINNERSDEVELOPER AWARDSBest DeveloperWINNER: BHC PropertyBest Boutique DeveloperWINNER: Polytec AustraliaTHE ESG DEVELOPER AWARDSustainable Design AwardWINNER: MRCB InternationalDEVELOPMENT AWARDSBest Mixed Used DevelopmentWINNER: Burswood Point by Golden SedayuBest Industrial DevelopmentWINNER: Found Huntingdale by Hexa and Spectre PropertyBest Retail DevelopmentWINNER: The Burwood Chinatown by Blairgrove GroupBest Heritage DevelopmentWINNER: Leichhardt Hotel by Blairgrove GroupBest Luxury Townhouse Development (Victoria)WINNER: Mercer by BHC PropertyBest Townhouse Development (New South Wales)WINNER: Chatswood Garden by FY Property, Kooringa Group, MA Financial, CPDMBest Townhouse Development (Victoria)WINNER: Lumina Townhomes by Hexa and IFDBest Investment Apartment DevelopmentWINNER: Elements at Carousel by Jean Yip DevelopmentsBest Apartment Development (Western Australia)WINNER: Elements at Carousel by Jean Yip DevelopmentsBest Wellness Residential DevelopmentWINNER: BLVD by OSK PropertyBest Integrated Work from Home DevelopmentWINNER: BLVD by OSK PropertyBest Student Accommodation DevelopmentWINNER: Scape Victoria Street by Scape Australia Pty LtdDESIGN AWARDSBest Luxury Apartment Architectural Design (New South Wales)WINNER: Beauchamp Sydney by Polytec AustraliaBest Apartment Architectural DesignWINNER: 26 Vista by MRCB InternationalBest Apartment Architectural Design (Victoria)WINNER: Sculpt Hawthorn by Parallel Workshop ArchitectsBest Housing Architectural DesignWINNER: Kingsbridge by Hermitage Building GroupBest Office Architectural DesignWINNER: 101 Cremorne by CHT ArchitectsBest Apartment Interior DesignWINNER: BLVD by OSK PropertyBest Housing Interior DesignWINNER: Kingsbridge by Hermitage Building GroupBest Retail Interior DesignWINNER: The Grand Shanghai Hotel by Blairgrove GroupBest Hotel Interior DesignWINNER: The Playford Adelaide - MGallery by Hachem Architecture Pty LtdBest Heritage Interior DesignWINNER: The Playford Adelaide - MGallery by Hachem Architecture Pty LtdBEST OF AUSTRALIA AWARDSBest Apartment Development (Australia)WINNER: BLVD by OSK PropertyBest Townhouse Development (Australia)WINNER: Lumina Townhomes by Hexa and IFDPUBLISHER’S CHOICEAustralia Real Estate Personality of the YearWINNER: Sydney Ma, Managing Director, Top Spring AustraliaABOUT PROPERTYGURU ASIA PROPERTY AWARDSPropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair, and transparent. In 2024, the Awards series is open to key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2024. For more information, please visit AsiaPropertyAwards.comABOUT PROPERTYGURU GROUPPropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 28 million property seekers2 to connect with almost 46,000 agents3 monthly to find their dream home. PropertyGuru empowers property seekers with more than 2.1 million real estate listings4, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, and Vietnam.PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 16 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn(1) Based on SimilarWeb data between October 2023 and March 2024. (2) Based on Google Analytics data between October 2023 and March 2024. (3) Based on data between January 2024 and March 2024. (4) Based on data between October 2023 and March 2024.PROPERTYGURU CONTACTS:General Enquiries:Richard Allan Aquino, Head of Brand & Marketing ServicesM: +66 92 954 4154E: allan@propertyguru.com Media & Partnerships:Nate Dacua, Senior Manager, Media and Marketing ServicesM: +66 92 701 2510E: nate@propertyguru.comSales & Nominations:Watcharaphon Chaisuk (Jeff), Solutions ManagerM: +66 95 797 0595E: jeff@propertyguru.comMonika Singh, Solutions ManagerM: +66 87 677 4812E: monika@propertyguru.com Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - As we enter the fourth quarter, the market buzzes with optimism. The U.S. Federal Reserve’s interest rate reduction, aimed at bolstering liquidity, has drawn Chinese mainland capital inflow into the Hong Kong stock market. Just before China’s National Day holiday, the People’s Bank of China (PBOC) unveiled a series of pivotal measures: a reserve requirement ratio cut, an interest rate reduction, and a decrease in existing mortgage rates. Analysts and commentators widely regard these moves as unprecedented since 2008. Notably, the PBOC’s injection of at least RMB 800 billion into the stock market represents a historic milestone.On 10 October, the People’s Bank of China (PBOC) made a significant move by introducing a swap facility, initially valued at RMB500 billion. This facility aims to bolster capital market development and further invigorate both the Hong Kong and A-share markets. Just two days later, on 12 October, Lan Fo’an, Minister of Finance of the People’s Republic of China, announced a forthcoming series of targeted incremental fiscal policy measures. These measures are designed to support high-quality economic development, with a focus on stabilizing growth, expanding domestic demand, and mitigating risks. As the economy stabilizes and corporate earnings improve, the overall market is poised for a new phase of growth.Interest rate cuts poised to register gains in Hong Kong’s stock marketThe U.S. Federal Reserve has implemented a 50-basis-point interest rate cut, the first in four years. According to the Fed’s projections, the federal funds rate is expected to reach 4.4% by year-end, falling within a target range of 4.25% to 4.5%. Looking ahead, the rate is anticipated to decrease further to 3.4% by 2025 and 2.9% by 2026. Market sentiment suggests that another 50-basis-point rate cut may occur this year, with expectations of a full 100-basis-point reduction next year.As the Federal Reserve initiates rate cuts, it will ease the capital outflows and stabilize currency fluctuations in countries beyond the United States. This policy shift also grants greater flexibility to central banks worldwide, including China, enabling them to tailor their monetary strategies to foster economic expansion and bolster stock market performance. In this evolving landscape, bonds emerge as an attractive option. As deposit rates are projected to gradually decrease during the rate-cutting cycle, investors can secure appealing fixed returns over the long term. Additionally, both stocks and bonds—particularly those with robust growth potential and stable fundamentals—are poised to attract significant interest among investors in the short term.Despite several major supportive measures introduced by the central government, the stock market experienced a pullback after the National Day holiday. Nevertheless, institutions like Morgan Stanley, HSBC, and CITIC have expressed confidence in the government’s unwavering dedication to economic stimulation. These institutions anticipate the gradual introduction of additional measures, amounting to trillions, with an aim at bolstering the economy. Market sentiment suggests that these economic stimulus measures will be moderate and sustained, recognizing that a steady rise in stock market plays a crucial role in driving economic growth and encouraging consumer spending.Given the government’s steadfast commitment to boosting consumption, Fosun International (00656), a leading global innovation-driven consumer group, remains undervalued for an extended period. It is poised to emerge as a frontrunner. Notably, the significant increase in Fosun International’s share price subsequent to earlier stimulus measures underscores its considerable growth potential. Successfully building industry leaders to strengthen core industrial advantagesSince 10 September, Fosun International’s stock price has steadily risen, resulting in an impressive cumulative increase of 58.46%. Notably, this increase surpasses the Hang Seng Index’s 34.26% increase during the same period. The recent surge in Fosun International’s share price is underpinned by the company’s solid fundamentals. Guo Guangchang, Chairman of Fosun International, emphasized during the interim results presentation that despite the challenging macro environment, Fosun International remains committed to its core business-focused strategy and continued to cultivate industry-leading companies and develop excellent products in advantageous sectors. So far, this strategy has yielded positive results.Recently, Fosun International strengthened its advantages in core industries such as pharmaceuticals, tourism, consumption, and insurance by focusing on its core businesses, garnering market optimism. During the National Day holiday, the tourism sector experienced a strong start, with the tourism-related stocks seeing significant growth. During the first week of October, Fosun Tourism Group’s (FTG) share price surged nearly 40%, reflecting the market’s high recognition of the company’s asset-light strategy and investors’ confidence in FTG’s growth potential. Currently, 85% of FTG’s resorts operate under an asset-light model, making it one of the few leading tourism companies in the domestic market with both an asset-light approach and global operational capabilities.Guo Guangchang mentioned on Weibo that the stock market’s rally before the holiday gave everyone a sense of financial comfort. The wealth effect of rising stocks has truly stimulated consumer demand and driven an increase in spending. Sales of the company’s Atlantis Sanya and Shede’s baijiu saw a rapid rise during the holiday. Taking Shede as an example, as a renowned Chinese liquor company, it carried out promotions across its entire product line during the National Day holiday. Several products showed significant year-on-year increases compared to last year’s sales. Among them, the high-end strategic product in the RMB1,000 price range, Collection Shede 10-Year Edition, saw a remarkable year-on-year sales growth of 384%. Crystal Shede experienced a 224% increase in sales, while the sales of T68 Tuopai Exceptional grew 80%, and the sales of Tuopai Qiujiu rose 69%.In addition to the improving tourism and consumer businesses, Fosun’s pharmaceutical and insurance businesses have also attracted positive market attention. As a leader in pharmaceutical innovation in China, Fosun Pharma has been optimizing its asset structure and accelerating cash inflow this year. It recently announced its plans to privatize its innovative drug platform, Shanghai Henlius, and to fully acquire the core cell therapy platform, Fosun Kite, with a view to focusing on its core innovative assets. Supported by favorable national measures and strong R&D and commercialization capabilities, Fosun Pharma has established itself as a leader in China’s innovative drug market. In the first half of the year, it generated over RMB3.7 billion in revenue from innovative drugs, with steady growth expected in the second half. During the National Day holiday, Fosun Pharma’s share price performed well and continued to increase. Since September, its share price has risen nearly 25%.Recently, Fitch, one of the leading international credit rating agencies, upgraded Fidelidade’s Insurer Financial Strength (IFS) Rating to “A+” from “A” and its Long-Term Issuer Default Rating (IDR) to “A” from “A-”, maintaining stable outlooks. This represents the highest ratings Fitch has granted to a Portuguese financial company. The upgrade confirms that strategies implemented by Fidelidade have consistently strengthened its financial stability and reflects the improvement in Fosun’s global operational capabilities. Fitch highlighted Fidelidade’s sound business profile, strong capitalization, robust financial performance and profitability, and low investment portfolio risk.USD888 million syndicated loan issuance demonstrates continued recognition of Fosun’s credit quality by domestic and international banksOn 30 September, Fosun International announced the closure of a sustainability-linked syndicated loan totaling USD888 million through greenshoe, one of the largest of its kind issued by Chinese private enterprises this year. It is worth mentioning that the loan is a three-year senior unsecured working capital loan and the participating banks include several leading banks from Greater China, the Asia-Pacific region, and Europe and the Americas. This reflects the continued recognition of the Group’s credit quality by both domestic and international banks. Fosun’s sound financing channels can lay a solid foundation for the company’s steady development.Recently,several securities firms have highlighted the effectiveness of Fosun International’s core business-focused strategy, with innovation and globalization driving healthy growth, while maintaining a declining leverage ratio and sound financials. Fosun has actively optimized its asset portfolio, consistently reduced leverage and strengthened cash reserves. As of 30 June 2024, the Group’s adjusted total debt-to-capital ratio was 50.2%, maintaining a downward trend since 2020. In June 2024, international rating agency S&P fully recognized the effectiveness of Fosun’s financial strategy and affirmed its rating outlook as “stable”.According to various research reports, as Fosun’s business becomes more focused and its financial indicators improve, its future business development and profitability are becoming more predictable. Notably, globalization, innovation, and its sound asset-light operational capabilities are poised to drive a new round of growth for Fosun.It is evident that benefiting from national measures, Fosun International and its subsidiaries have entered a new phase for potential valuation enhancement. The recent pullback in share prices could be an attractive buying opportunity for investors. Copyright 2024 ACN Newswire via SeaPRwire.com.
SAN DIEGO, CA, Oct 15, 2024 - (ACN Newswire via SeaPRwire.com) - On Sept. 30, 2024, General Atomics Aeronautical Systems, Inc. (GA-ASI) completed a major milestone with the full-scale fatigue testing of an MQ-9B Remotely Piloted Aircraft (RPA). The team completed the "second lifetime" of fatigue testing, which is equivalent to 80,000 operating hours and represents an important step in validating the design of the airframe system. The testing is part of the aircraft certification to NATO standard STANAG 4671, where the aircraft will ultimately be tested through three lifetimes, thereby proving the 40,000-hour lifetime of the airframe.The full-scale fatigue test simulates the aircraft's design service through the application of repeated structural loading on the assembled airframe. The testing identifies any potential structural deficiencies ahead of fleet usage and assists in developing inspection and maintenance schedules for the airframe. The results of the test will be used as part of the documentation for certification and will form the basis for in-service inspections of structural components.MQ-9B is GA-ASI's most advanced RPA and includes the SkyGuardian® and SeaGuardian® models as well as the new Protector RG Mk1 that is currently being delivered to the United Kingdom Royal Air Force (RAF)."Full-scale fatigue testing is an integral part of validating the airframe design and a key input for the certification of the airframe prior to entering service," said Chris Dusseault, vice president of MQ-9B in Europe. "The completion of the fatigue test builds confidence for our MQ-9B customers that the SkyGuardian/SeaGuardian meets the stringent design rigor and is mature at Entry into Service."The testing is the validation of years of design and analysis efforts. This is the second of three lifetimes of testing for the airframe. Two of the lifetimes simulate the operation of an aircraft under normal conditions, and the third has intentional damage inflicted on the airframe's critical components to demonstrate its resistance to operational damage that may occur over the lifetime of the air vehicle.Testing was conducted from Jan. 31, 2024, through Sept. 30, 2024, at Wichita State University's National Institute for Aviation Research in Wichita, Kansas. The airframe tested is a production airframe purpose-built to support the test campaign.In addition to the RAF, contracts have been signed for MQ-9B with Belgium, Canada, Japan, Taiwan and the U.S. Air Force in support of the Special Operations Command. The Japan Coast Guard is currently operating the SeaGuardian for maritime operations, and the Japan Maritime Self-Defense Force (JMSDF) selected SeaGuardian for its Medium-Altitude, Long-Endurance (MALE) RPA System Trial Operation Project.About GA-ASIGeneral Atomics Aeronautical Systems, Inc. (GA-ASI), an affiliate of General Atomics, is a leading designer and manufacturer of proven, reliable RPA systems, radars, and electro-optic and related mission systems, including the Predator® RPA series and the Lynx® Multi-mode Radar. With more than eight million flight hours, GA-ASI provides long-endurance, mission-capable aircraft with integrated sensor and data link systems required to deliver persistent situational awareness. The company also produces a variety of sensor control/image analysis software, offers pilot training and support services, and develops meta-material antennas.For more information, visit www.ga-asi.com.Avenger, Lynx, Predator, Reaper, SeaGuardian, and SkyGuardian are registered trademarks of General Atomics Aeronautical Systems, Inc.Contact InformationGA-ASI Media Relationsasi-mediarelations@ga-asi.comSOURCE: General Atomics Aeronautical Systems, Inc. Copyright 2024 ACN Newswire via SeaPRwire.com.
CTF Life’s celebration dinner to mark its towards 40th anniversaryis inaugurated by Brian Cheng, Executive Director and Group Co-ChiefExecutive Officer of NWS Holdings and Non-executive Director of CTFLife (third from right); Gilbert Ho, Executive Director and GroupCo-Chief Executive Officer of NWS Holdings and Non-executiveDirector of CTF Life (second from left); and Man Kit Ip, ChiefExecutive Officer of CTF Life (centre), along with the managementteam of CTF Life.HONG KONG, Oct 14, 2024 - (ACN Newswire via SeaPRwire.com) - Chow Tai Fook Life Insurance Company Limited (“CTF Life”) recently celebrated its towards 40th anniversary with a celebration dinner themed “Value Beyond Insurance” at the Hong Kong Convention and Exhibition Centre. To further promote the value of CTF Life in providing customers with personalised planning solutions, lifelong protection and diverse lifestyle experiences over the years, CTF Life also announced the launch of its MyWealth Savings Insurance Plan 2, which empowers customers with faster and higher projected returns, greater autonomy and greater flexibility in inheritance planning, helping customers embrace a fulfilling life.The celebration dinner was inaugurated by Brian Cheng, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life; Gilbert Ho, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life; and Man Kit Ip, Chief Executive Officer of CTF Life, along with the company’s management team. The highlight of the event was a performance by singer-songwriters Phil Lam and Cath Wong, while renowned artist Kelly Chen appeared as a guest performer.To further promote its brand awareness, CTF Life displayed its new company name on the rooftop LED billboard of COFCO Tower on Hong Kong Island and the large outdoor advertisement at the Royal Hong Kong Yacht Club in Causeway Bay. To celebrate its 40th anniversary, the company also advertised on billboards on five major commercial buildings, including Far East Finance Centre, Harcourt House, Sing Ho Finance Building, Chinachem Century Tower and V Point.Man Kit Ip, Chief Executive Officer of CTF Life, said: “CTF Life is embarking on a new journey in 2024, proudly stepping into its 40th year. Over the years, we have overcome challenges and seized opportunities together with Hong Kong, achieving remarkable growth. Looking ahead, we will further strengthen our collaboration with the diverse conglomerate of the Chow Tai Fook Group, leveraging its robust financial strength and strategic investments across the globe to continue to expand our service network and optimise our products and services. Drawing on our roots in Hong Kong, we will extend our reach across China and other Asian markets, continually creating value beyond insurance for our target customers.”MyWealth Savings Insurance Plan 2 for Flexible Wealth ManagementTo celebrate its 40th anniversary and meet the financial needs of customers at different stages of life, CTF Life has launched MyWealth Savings Insurance Plan 2 (MyWealth 2), building on the success of its MyWealth Savings Insurance Plan (MyWealth 1). The new plan features the first-in-market1 “Wealth Booster Option” 2, which allows customers to change the amount components under the policy to help enhance the projected returns. The plan’s special-in-market1 “Wealth Accumulation Switching Options” 3 give customers greater autonomy to cater their investment preferences at different life stages. MyWealth 2 features “Dual Succession”, which allows unlimited changes of Insured4 and entitles the policy owner to assign up to two beneficiaries for legacy planning, ensuring the continuation of the policy and maximising the efficacy of wealth inheritance.Jarita Kwan, Chief Product Officer of CTF Life, said, “Based on the thoughtful features of MyWealth 1, CTF Life has launched MyWealth 2 to meet the financial needs of customers at different stages of life. Taking USD policy as an example, MyWealth 2 offers a shorter breakeven period, higher projected returns, and greater flexibility. It enhances withdrawal advantages, allowing customers to seize market opportunities in a timely manner, helping wealth accumulation and inheritance.”The three main advantages of MyWealth 21.Shorter breakeven periods, higher projected returns and more flexible withdrawal arrangements- With a five-year premium payment period5, customers can achieve total breakeven and guaranteed breakeven on the 7th and 13th policy anniversaries, respectively. Furthermore, the total policy value is projected to exceed 200% of the total premiums paid by the end of the 17th policy anniversary. Moreover, MyWealth 2 offers potentially higher projected returns than MyWealth 1.- Building on the strengths of MyWealth 1, MyWealth 2 offers more flexible withdrawal arrangements to meet the needs of customers at various stages of life.2.Greater autonomy- First-in-market1 “Wealth Booster Option” 2: On the 10th policy anniversary or any policy anniversary thereafter, customers can apply once to exercise the first-in-market1 “Wealth Booster Option”2 . This allows customers to change the amount components# under the policy according to the long-term target asset allocation under this option in order to enhance the projected return of their policy.- “Wealth Accumulation Switching Option” 3: The 3 special-in-market1 Switching Options, including “Advance”, “Balanced” and “Conservative”, allow customers the flexibility to choose the value ratio of their “Stable Asset Account” 6 from three preset Switching Options, starting from the 10th policy anniversary, fulfilling their financial needs at different stages of life. MyWealth 2 allows customers to apply for this option five years earlier than with MyWealth 1.- Free conversion of the policy currency: On the 3rd policy anniversary and any policy anniversary thereafter, customers can apply to exercise the “Currency Switching Option”, changing the policy currency of the basic plan to a different currency (US dollar, Hong Kong dollar, Chinese yuan, British pound sterling, Euro, Singapore dollar, Australian dollar or Canadian dollar), accommodating their global wealth management goals.- “Policy Split Option” 7: After the end of the 5th policy year or the end of the premium payment period (whichever is later), customers can split the existing policy into two by allocating a portion of the Units of the basic plan under the existing policy to a sperate “Split Policy”. The process involves splitting a policy into two, then two becomes four, and so on, allowing customers to maximise the power of asset allocation.- Premium Holiday8 of up to four years: Customers can apply for a Premium Holiday of up to four years, on or after the 2nd policy anniversary. The premium payment of their next policy anniversary will be suspended, and customers do not need to worry about the immediate termination of their policy and the loss of protection.3.Greater flexibility on inheritance- Dual Succession: After the 6th policy monthly anniversary, customers may change the Insured for unlimited times4. The coverage period will be adjusted to age 128 of the new Insured (“Changed New Insured”), allowing sufficient time for wealth accumulation of the policy. In addition, MyWealth 2 provides a “Policy Continuation Option”9, enabling the Policy Owner to assign up to two beneficiaries and specify the proportion of the Death Proceeds to be paid for each beneficiary. Upon the death of the Insured, the designated beneficiaries will become the new Insured(s), offering flexibility on inheritance.- Customised Death Benefit Settlement Option: The Policy Owner can designate a specified year or a specified age of the beneficiary to start paying the death benefit. This flexible payment allows each beneficiary to have the most appropriate arrangement, leaving a lasting legacy of love.- Premium Waiver10: Accidents or diseases are unforeseeable. MyWealth 2 offers “Waiver of Premium Benefit” and “Payor Benefit” to ensure that the accumulated wealth remains unaffected and to safeguard the financial future of the customer’s children.To help customers realise their financial plans more easily, they can enjoy a First-Year Premium Refund11 of up to 26% when they successfully apply for MyWealth 2. If all premiums payable are settled through a lump sum prepayment, the remaining balance from the prepayment will enjoy a guaranteed interest rate of up to 5% p.a. throughout the whole premium payment period12. This allows customers to start their financial plans at a lower cost.#The amount components refer to Guaranteed Cash Value, face value and cash value of accumulated Reversionary Bonuses and Terminal Bonus (if any) and accumulated value of Stable Asset Account (if any) of the basic plan.Remarks:1.“Special-in-market” and “First-in-market” are the results of comparing similar major life insurance savings products of major life insurance companies in Hong Kong as of 26 September 2024.2.Within 30 days before or after the 10th policy anniversary or every policy anniversary thereafter, customer may, subject to the prevailing rules of the Company, exercise the Wealth Booster Option to adjust the Guaranteed Cash Value, face value and cash value of accumulated Reversionary Bonuses (if any), face value and cash value of Terminal Bonus (if any), and the accumulated value of Stable Asset Account (if any) of the basic plan to other pre-set level(s) (to be determined by the Company and elaborated in an endorsement and new policy specifications) according to the new long-term target asset allocation, without providing any evidence of insurability while subject to the following conditions: (i) all premiums due and payable under the policy must be settled and any Indebtedness must be fully repaid; (ii) no Premium Holiday is in effect, no application for exercising Policy Split Option, Currency Switch Option, Wealth Accumulation Switching Option or Change of Insured Option is in progress, and no claim is in progress under the basic plan of the policy upon request exercising this Option; (iii) the request cannot be changed or withdrawn once it is submitted; and (iv) this Option can only be exercised once under the policy. After the Wealth Booster Option becomes effective, (i) the Guaranteed Cash Value, face value and cash value of Reversionary Bonus (if any), face value and cash value of Terminal Bonus (if any) and accumulated value of Stable Asset Account (if any) of the basic plan of the policy will be adjusted at the sole discretion of the Company while the Unit will remain unchanged. The future amounts of Guaranteed Cash Value, face value and cash value of Reversionary Bonus (if any), face value and cash value of Terminal Bonus (if any) will also be determined accordingly; (ii) the Wealth Accumulation Switching Option will be reset as “Advance” (i.e. the allocation and value in Stable Asset Account are both zero); (iii) all Complementary Policies (if any) and riders (if any) under the policy will remain in force after the change, subject to the then prevailing rules of the Company; (iv) the beneficiary(ies), policy owner, contingent policy owner (if designated), Initial Insured, Insured, policy currency, Policy Date, policy effective date and Policy Years of the basic plan of the policy will remain unchanged; and (v) previous instruction(s) made under the basic plan of the policy including but not limited to Death Benefit Settlement Option and Policy Continuation Option will remain unchanged unless otherwise specified. In the event that both Wealth Booster Option and Wealth Accumulation Switching Option are elected on the same policy anniversary, the Wealth Booster Option will be exercised while the elected Wealth Accumulation Switching Option will be automatically withdrawn immediately. Policy owner may elect the Wealth Accumulation Switching Option again in the next policy anniversary. As the equity-like assets in the new long-term target asset allocation are relatively higher, the Guaranteed Cash Value may be subject to reduction and the risk may increase accordingly after the Wealth Booster Option has been exercised. If customer has any questions, customer can contact financial consultant for more details or seek independent professional advice. Please refer to the Policy Provisions for more details of the Wealth Booster Option.3.Wealth Accumulation Switching Options and its portfolio ratioSwitching option(s)“Stable Asset Account” allocationAllocation of the cash value of Reversionary Bonus (if any)and cash value of Terminal Bonus (if any)Advance0%100%Balanced40%60%Conservative80%20%“Stable Asset Account Allocation” = the value of “Stable Asset Account” ÷ (cash value of Reversionary Bonus (if any) + cash value of Terminal Bonus (if any) + value of Stable Asset Account) x 100%Within 30 days before or after the 10th policy anniversary or every policy anniversary thereafter, customer may, subject to the prevailing rules of the Company, exercise the Wealth Accumulation Switching Option to adjust the Switching Option of the basic plan of the policy to achieve Stable Asset Account Allocation at desire of customer, subject to the following conditions: (i) the Switching Option applied for must be different from the default Switching Option of the Basic Plan of the policy (for the first exercise of this option) or the latest Switching Option as shown in our record (if customer has already exercised this option before); (ii) except the first time of exercise of this option, the switch date of each subsequent request must be separated by a period of not less than 1 year from the switch date of the preceding exercise of this option; and (iii) all indebtedness must be fully settled before exercising this option. Once the Wealth Accumulation Switching Option is exercised, we will correspondingly adjust the amount of any future cash values and face values of Reversionary Bonus and Terminal Bonus at a rate to be determined by us based on the change(s) of the cash values of Reversionary Bonus and Terminal Bonus. Once the Company approves the request of Wealth Accumulation Switching Option, we will determine the value of Stable Asset Account immediately following such exercise of Wealth Accumulation Switching Option (“Target Value”). The Target Value equals the product of Stable Asset Account Allocation of the elected Switching Option and the aggregate of (i) the accumulated value of Stable Asset Account (if any) immediately before such exercise (“Existing Value”); and (ii) the cash values of Reversionary Bonus and Terminal Bonus immediately before such exercise. We will then adjust the balance of Stable Asset Account from the Existing Value to the Target Value at the switch date, which in the case that the Existing Value is lower than the Target Value, the deficit will be resolved by transferring the latest cash value of Reversionary Bonus (if any) and cash value of Terminal Bonus (if any) to the Stable Asset Account; or in the case that the Existing Value is higher than the Target Value, the surplus from the Stable Asset Account will become the cash value of Reversionary Bonus and cash value of Terminal Bonus. In the event that both Wealth Booster Option and Wealth Accumulation Switching Option are elected on the same policy anniversary, the Wealth Booster Option will be exercised while the elected Wealth Accumulation Switching Option will be automatically withdrawn immediately. Policy Owner may elect the Wealth Accumulation Switching Option again in the next policy anniversary. Please refer to the Policy Provisions for more details of the Wealth Accumulation Switching Option.4.Changing the Insured is subject to the prevailing administrative rules and designated requirements. The Unit, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any) and the face value of Terminal Bonus (if any), any accumulated value of Stable Asset Account, Policy Date and Policy Years will remain the same on the Insured-Change Effective Date while the Plan End Date will be adjusted to the date of policy anniversary on the 128th birthday of the Changed New Insured or following the 128th birthday of the Changed New Insured (whichever is applicable). The Changed New Insured must be aged 64 (last birthday) or below. The change of Insured must be endorsed by the Policy Owner, proposed new Insured and Assignee (if any). Both the new Insured and the current Insured must be alive and the policy is in force at the time the Insured is changed and provided with satisfactory proof of evidence of insurability for the proposed new Insured. We shall cease to provide any coverage for the initial Insured or the prior Insured on our record (when applicable and as the case may be) as from the Insured-Change Effective Date. All riders (if any) will be terminated on the Insured-Change Effective Date. Please refer to the Policy Provisions for details of Changing of Insured Option.5.This is an example of a policy denominated in USD with a 5-year premium payment period. The annual premium payment is US$100,000, resulting in a total premiums paid of US$500,000, without exercising any policy options.6.Account determined in accordance with the Wealth Accumulation Switching Option provision in which its long-term target asset allocation is 100% in fixed income type securities. The value in the Stable Asset Account will be accumulated at such interest rate as may be declared by us from time to time. Interest rates on the Stable Asset Account are not guaranteed and may even be 0% in any year.7.While the policy is in force and the Insured is still alive, after the end of the 5th Policy Year (Applicable to MyWealth Savings Insurance Plan 2 (Premier))/while the policy is in force and the Insured is still alive, after the end of the 5th Policy Year or the end of the premium payment period (whichever is later) (Applicable to MyWealth Savings Insurance Plan 2 (Prestige)), and subject to the prevailing rules of the Company, customer may exercise Policy Split Option to create a separate policy (the “Split Policy”), allocating a portion of Unit from the basic plan of the policy to the Split Policy but subject to the following conditions without providing any evidence of insurability: (i) after the policy Split Option has been exercised (the “Split”), the respective Unit of the basic plan of the policy and Split Policy must not be less than the minimum Unit amount we permit at the time of the request of customer; (ii) the insured of the Split Policy must be the same as the Insured of the basic plan of the policy; (iii) no claim is in progress under the basic plan of the policy upon request exercising this option; (iv) customer’s request for the policy Split Option cannot be changed or withdrawn once it is submitted; (v) any indebtedness under the basic plan of the policy must be fully repaid before we approve customer’s request ; and (vi) Policy Split Option can only be exercised once during a Policy Year. After the Split is approved, (i) the provisions of the Split Policy will be the same as the basic plan of the policy unless otherwise specified; (ii) the Unit, face value and cash value of Reversionary Bonus and Terminal Bonus (if any), accumulated value of Stable Asset Account (if any) will be reduced and transferred to the Split Policy according to the ratio of the Unit allocated to the basic plan of the policy and the Split Policy. We will determine the existing and future amounts of Guaranteed Cash Value, the face value and cash value of Reversionary Bonus and Terminal Bonus (if any); and future premium respectively for both the basic plan of the policy and the Split Policy according to customer’s allocation of the Units; (iii) the total premiums paid for both the basic plan of the policy and the Split Policy will be adjusted according to customer’s allocation of Units and will be used to calculate death benefit; (iv) subject to the rules of the Company, all riders (if any) under the policy will continue to be effective after the Split; (v) the beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this Policy will remain unchanged and the Split Policy will have the same beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this Policy; and (vi) previous instruction(s) made under the basic plan of the policy including but not limited to Wealth Accumulation Switching Option, Wealth Booster Option, Death Benefit Settlement Option and Policy Continuation Option will also apply to the Split Policy unless otherwise specified. The Split Policy will be effective only after its policy provisions and policy specifications are issued. Please refers to the Policy Provisions for more details of Policy Split Option.8.Premium Holiday is not applicable to the policy with a 2-year premium payment period. The length of a Premium Holiday for each application should be a multiple of 1 year until it reaches the maximum limit. Premium Holiday is only applicable to the basic plan and will be effective on the next policy anniversary, but all riders attached to the policy will be terminated at the same time. We will defer the premium end date and premium due date according to the Premium Holiday Period approved. Riders attached to the policy can be re-attached after Premium Holiday, however, the premium and approval should be subject to rider application at that time. During the Premium Holiday, customer does not need to pay premiums for the basic plan, the Units, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), accumulated value of Stable Asset Account and protection under the basic plan will remain unchanged during the period, provided that customer has not partially surrendered during the Premium Holiday. The cash value of Reversionary Bonus and Terminal Bonus (if any) are non-guaranteed. During the Premium Holiday, we will not declare any face value of non-guaranteed Reversionary Bonus. Please refer to the Policy Provisions for details of Premium Holiday.9.Prior to the death of the Insured, the Policy Owner can assign one or two beneficiary(ies) for the Policy Continuation Option and specify the proportion of the Death Proceeds to be paid to each beneficiary for the Policy Continuation Option. Upon the death of the Insured, if the Policy Owner (still alive) and the Insured are different persons, the beneficiary will become the Continued New Insured; if the Policy Owner died at the same time or the Policy Owner and the Insured is the same person, subject to the prevailing administrative rules of the Company, the beneficiary will become the new Policy Owner and Continued New Insured of the policy in order to keep the policy in force after the Insured dies. If Policy Continuation Option has been exercised, and (i) only one beneficiary is designated under the policy and such beneficiary has been elected for the Policy Continuation Option prior to the death of the Insured, after this option has been exercised, all Units, Total Premiums Paid, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), the face value of Terminal Bonus (if any) and any accumulated value of Stable Asset Account (if any), Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective plan end date of the basic plan of the policy will be adjusted to the date of policy anniversary on the 128th birthday of the Continued New Insured or the immediately following policy anniversary (whenever is applicable); (ii) if there is more than one beneficiary designated under the policy and one or two beneficiary(ies) has/have been elected for the Policy Continuation Option prior to the death of the Insured, one or two basic plan(s) of the policy will be created upon the death of the Insured, and regarding each newly created basic plan, the respective unit, Total Premiums Paid, Guaranteed Cash Value, the respective face value of accumulated Reversionary Bonuses (if any) and the respective face value of Terminal Bonus (if any) and any respective accumulated values of the Stable Asset Account will be adjusted according to the proportion of the Death Proceeds specified by the Policy Owner for each beneficiary selected for the Policy Continuation Option. The respective Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective plan end date of the basic plan of the policy will be adjusted to the date of policy anniversary on the 128th birthday of the Continued New Insured or the immediately following policy anniversary (whenever is applicable). The surrender payment may be equal to or lower than death benefit before this option has been exercised. If the Death Benefit Settlement Option has already been selected for the beneficiary who has also been elected for the Policy Continuation Option, customer shall cancel the Death Benefit Settlement Option arrangement for such beneficiary before submission of any written request for the Policy Continuation Option. All riders (if any) will be terminated on the Policy Continuation Effective Date. For the beneficiary(ies) who has/have not been elected for the Policy Continuation Option (if any), the Death Benefit will be paid to each of these beneficiary(ies) in a lump sum or the respective option under the Death Benefit Settlement Option provision elected by the Policy Owner. If the Policy Owner has selected both Policy Continuation Option and Death Benefit Settlement Option, Policy Continuation Option will automatically be exercised (regardless of the order of selection). After Policy Continuation Option has been exercised, the Policy Continuation Option and Death Benefit Settlement Option previously selected by the Policy Owner will automatically become invalid Please refer to the Policy Provisions for details of Policy Continuation Option.10.There are 2 types of premium waivers: (i) “Waiver of Premium Benefit” is applicable to the Insured whose age at policy issuance or the change of Insured is between 18 and 60 and is the Policy Owner at the same time, and is diagnosed with total permanent disability before the age of 75. (ii) “Payor Benefit” is applicable to the latest Insured whose age at policy issuance or the change of the Insured is at the age 17 or below; the latest Policy Owner (including contingent Policy Owner) whose age at policy issuance or the change of the Policy Owner (including Contingent Policy Owner) is at the age of 60 or below, and dies or is diagnosed with total permanent disability before the age of 75. After the waived premium of the basic plan reaches the maximum total amount of premium waived (per Insured) and/ or on the waiver of premium end date (until the premium end date that is set at the time of policy issuance), the Policy Owner should pay the remaining premium; otherwise, the automatic premium loan will be applied, or the policy will be terminated. In addition to the premiums stated above, if premiums falling due in the relevant Waiver of Premium Benefit Period are paid before we approve a claim of this benefit, such premiums will be fully refunded (with no interest). If the incident is resulted from accident, immediate protection will be given. If a person dies or is diagnosed with total permanent disability due to illness, a 2-year waiting period is required. Please refer to the Policy Provisions for details of “Waiver of Premium Benefit” and “Payor Benefit”.11. Subject to terms and conditions, for details, please refer toMyWealth Savings Insurance Plan 2 (Prestige) First-Year Premium Refund:https://www.ctflife.com.hk/pdf/en/mywealth-savings-2-prestige-insurance-plan-premium-refund-flyer.pdfMyWealth Savings Insurance Plan 2 (Premier) First-Year Premium Refund:https://www.ctflife.com.hk/pdf/en/mywealth-savings-2-premier-insurance-plan-premium-refund-flyer.pdf12. Subject to terms and conditions, for details, please refer tohttps://www.ctflife.com.hk/pdf/en/guaranteed-interest-rate-for-prepaid-premium-offer-promotion-flyer.pdfImportant notice:- The information contained in this press release is intended as a general summary of information for reference only. MyWealth Savings Insurance Plan 2 features Prestige Version and Premier Version. For more details, please refer to the product brochures, promotion leaflets, and policy documents. For details regarding the CTF Life MyWealth Savings Insurance Plan 2, the terms and conditions of the policy contract shall prevail.- This press release does not contain the full provisions of MyWealth Savings Insurance Plan 2, and the full terms can be found in the Policy documents. MyWealth Savings Insurance Plan 2 may serve as standalone plan(s) without bundling with other type(s) of insurance product. Please refer to the main product brochure and policy terms and conditions, as well as the explanatory documents provided by your licensed insurance intermediary, to fully understand the details and complete terms and conditions regarding the mentioned definitions, fees, product features, exclusions, and compensation payment conditions related to the MyWealth Savings Insurance Plan 2.- Please refer to the product brochure for more information on MyWealth Savings Insurance Plan 2 (Prestige): https://www.ctflife.com.hk/pdf/en/mywealth-savings-2-prestige-insurance-plan-brochure.pdf- Please refer to the product brochure for more information on MyWealth Savings Insurance Plan 2 (Premier): https://www.ctflife.com.hk/pdf/en/mywealth-savings-2-premier-insurance-plan-brochure.pdf- For further details, please contact CTF Life’s Customer Service Hotline on +852 2866 8898.- This press release is intended to be distributed in Hong Kong only and shall not be construed as an offer to sell or a solicitation to buy or provision of any of our products outside Hong Kong. Chow Tai Fook Life Insurance Company Limited hereby declares that it has no intention to offer to sell, to solicit to buy or to provide any of its products in any jurisdiction other than Hong Kong in which such offer to sell or solicitation to buy or provision of any product of Chow Tai Fook Life Insurance Company Limited is illegal under the laws of that jurisdiction. About CTF LifeChow Tai Fook Life Insurance Company Limited (“CTF Life”) is proud of its rich, nearly 40-year legacy in Hong Kong. CTF Life is a wholly-owned subsidiary of NWS Holdings Limited (Hong Kong Stock Code: 659) and one of the most well-established life insurance companies in Hong Kong. As a member of Chow Tai Fook Enterprises Limited, CTF Life consistently strengthens its collaboration with the diverse conglomerate of the Cheng family (“Chow Tai Fook Group” or “the Group”) to support customers and their loved ones in navigating life’s journey with personalised planning solutions, lifelong protection and diverse lifestyle experiences. By leveraging the Group’s robust financial strength and strategic investments across the globe, CTF Life aspires to become a leading insurance company in the Greater Bay Area while continuously creating value beyond insurance.Media enquiriesCTF LifeSuki Kwong+852 2591 8504suki.kwong@ctflife.com.hkParadigm ConsultingEvan Lu+852 6707 3281Ctflife@paradigmconsulting.com.hkChow Tai Fook Life Insurance Company Limited (Incorporated in Bermuda with limited liability) Copyright 2024 ACN Newswire via SeaPRwire.com.
