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Australia Delivers Additional Humanitarian Relief Supplies for Emergency Response in Laos

An additional 28 tons of humanitarian relief supplies was delivered via a Royal Australian Air Force aircraft on 29 October. (Photo: Australian Embassy in Laos)

An additional 28 tons of humanitarian relief supplies was delivered via a Royal Australian  Air Force aircraft on 29 October. Megan Jones, Australian Ambassador to Laos, handed over the additional supplies to Leepao Yang, Vice Minister of Labor  and Social Welfare, during the official ceremony held at Wattay International Airport.  

This marks the second delivery of pre-positioned humanitarian relief supplies to Laos in  2024, with the continued support from the Australian Government. The delivery is part of  Indo-Pacific Endeavour (IPE24), an initiative led by the Australian Defense Force to  strengthen defense cooperation with countries across the region, including Laos.  

Ambassador Jones emphasized the importance of preparedness  efforts by stating that “Australia is proud to continue our strong partnership with the Lao  Government in disaster preparedness and emergency response. Pre-positioning  humanitarian supplies is critical to ensuring swift support to families in need when disaster  strikes. Our collaboration through initiatives like the Indo-Pacific Endeavour highlights the  importance of readiness and resilience across the region.” 

The supplies, valued at AUD 224,000 (USD 146,267), include essential relief items such as  468 hygiene kits, 2,016 kitchen kits, 3,400 blankets, 3,200 mosquito nets, and 2,250 sleeping  mats, and are expected to benefit more than 3,000 families affected by natural disasters or  emergencies. 

Leepao Yang expressed his gratitude for Australia’s ongoing support. 

“The timely support from Australia through the delivery of pre-positioned humanitarian supplies is essential for enhancing Laos’ capacity to respond  quickly to disasters and emergencies. These supplies will play a vital role in protecting and  supporting Lao families during times of crisis, and we deeply appreciate Australia’s ongoing  partnership in this important work,” Yang said. 

Australia remains committed to supporting the Lao Government’s efforts in disaster  preparedness to ensure a rapid and effective response when emergencies occur. In 2024,  Australia delivered humanitarian relief supplies to Laos with a total value of AUD 319,000 (USD 210,259).

Luang Prabang Smashes 2024 Tourism Goal: Over 1.7 Million Visitors, Expecting Surge in Peak Season

Luang Prabang tourism. (Photo: 3 Nagas Luang Prabang - MGallery)

By Oulayvanh Sisounonth and Phontham Visapra

UPDATED on 30 October at 1:28 PM


Luang Prabang, Laos’ most popular UNESCO World Heritage city, continues to set new records for tourism. In the first ten months of 2024, the city welcomed approximately 1,723,164 tourists, far surpassing its initial annual target of 900,000.

Data from the Luang Prabang Provincial Information, Culture, and Tourism Department showed that the province welcomed a total of 1,155,181 international travelers and 567, 963 domestic visitors. Chinese tourists led the highest number of visitors, followed by Thailand and South Korea. 

Officials expect even higher numbers as the year’s peak season approaches, building on significant growth from the previous year

In 2023, Luang Prabang saw over one million visitors, marking a 91.49-percent increase compared to 2022. This increase brought in an estimated USD 560 million, with over 760,000 international tourists contributing to the city’s economy. 

Riding on that momentum, Luang Prabang launched a comprehensive activity plan for “Visit Laos Year 2024” with the aim of drawing even more tourists while celebrating its 28th anniversary as a World Heritage site. The lineup of over 40 planned activities aims to attract 1.7 million tourists, with projected tourism spending expected to exceed USD 900 million by year-end. The province hoped to attract at least 1.4 million international visitors, enhancing its global appeal as a unique cultural destination.

“To accommodate more tourists, we have prepared to expand ticket sales staff and ticket lanes at each tourist attraction to make it more convenient and faster. We are also considering online ticket sales to modernize the process,” said Soudaphone Khomthavong, Director of the Luang Prabang Provincial Information, Culture, and Tourism Department.

Laos Named a Top Global Destination

In October, Laos was ranked fourth on the list of the Top 30 Best Places to Visit in 2025 by the travel guidebook “Lonely Planet.” The top five destinations include Cameroon, Lithuania, Fiji, Laos, and Kazakhstan.

The guide highlighted that Laos is easily accessible via a high-speed train that is both affordable and sustainable. 

Earlier this year, the travel publication also highlighted Luang Prabang as one of the top seven destinations to visit in Southeast Asia in 2024, citing its Buddhist culture, historic temples, and preserved traditions. Tourists are also drawn to Luang Prabang’s relaxed atmosphere, scenic streets, and natural attractions. 

The article referred to Luang Prabang as “a significant center for Buddhist culture,” highlighting the city’s dedication to maintaining its historic temples and spiritual traditions. In addition to its deep cultural heritage, people love Luang Prabang for its easy-going vibe, lovely streets, fun festivals, and beautiful nature.

At the heart of Luang Prabang’s appeal are its historic and natural attractions, including landmarks like the Phou Si Stupa, Xieng Thong Temple, the Sae and Kuangsi waterfalls, and its traditional night market.

Festival of Light Draws Global Crowds

An annual cultural highlight in Luang Prabang is the “Festival of Light,” or “Boun Ork Phansa,” usually held in October along the Mekong River to mark the end of Buddhist Lent. The event aligns with the full moon of the twelfth month of the Lao lunar calendar, which this year fell on 17 October. 

The festival begins with a morning alms-giving ceremony where hundreds of monks walk through the streets, receiving offerings from locals. The peaceful procession attracts both residents and visitors, with tourists often participating or observing.

As evening sets in, the festival livens up with thousands of candles lighting the streets, decorated floats, and traditional music filling the air. Revered for its spiritual meaning, the festival allows locals to pay homage to the water spirits, or nagas, which are deeply ingrained in their beliefs. The festival embodies Luang Prabang’s unique cultural identity and attracts visitors worldwide, reinforcing its role as a centerpiece of Lao cultural heritage.

Sofitel Luang Prabang Celebrates 60th Anniversary with Art, Tradition
A team of Lao traditional dance performs in front of the festival’s art sculptures (photo credit: Sofitel Luang Prabang)

At night, the streets are lit with thousands of candles, and decorated floats and traditional music create a festive atmosphere. Locals have cultural ties to the event, particularly through their reverence for water spirits, called nagas.

“The festival is a time for us to seek blessings and good fortune from the nagas, spirits deeply woven into our spiritual beliefs,” said Bouavanh, a 64-year-old woman, on her way home after watching the parade. “We offer candles, flowers, and potties. I see it as an opportunity for us to confess our sins and have them purified.”

The celebration also includes a light-boat competition, with villages building and parading their own illuminated boats through town.

“Each village will have an opportunity to build their own light boat to parade around the town, with the winner getting some sort of award,” said Noy, a Luang Prabang local, watching the parade from a footpath near the 3 Nagas restaurant.

While for locals this is a well-known annual event, many foreign visitors only learn of the festival after arrival.

“I first found out about it when I landed here [in Luang Prabang],” said Kevin Cherashore, a tourist from the United States and president and owner of MS Signs, Inc. Although he’s visited Luang Prabang four times, Cherashore was entirely unaware of the Light Boat Festival.

“They [the hotel staff] told me when I got here, and we made plans to be here for it.”

Cherashore went on to express his love for the city, appreciating its rich culture and laid-back atmosphere, which he finds a refreshing contrast to Vientiane Capital, a place he describes as “a little bit too busy and crowded.”

“[Luang Prabang] has got everything, it’s got the culture, it’s got warm people, it’s got beautiful geographical surroundings and it’s starting to have even more five-star and more upscale tourism.”

As Luang Prabang continues to draw global attention and record-breaking crowds, the city balances the preservation of its cultural heritage with strategic developments aimed at enhancing the visitor experience. With initiatives like expanded infrastructure, online ticketing, and a full calendar of events, the city looks set to further exceed expectations, drawing more tourists from all corners of the globe.

EFT Solutions entered in a MOU with Zand Bank

Unlocking New Horizons to Broaden Presence in the UAE, Facilitating Cross-Boundary Interconnectivity of e-Payments


HONG KONG SAR – Media OutReach Newswire – 30 October 2024 – EFT Solutions Holdings Limited (“EFT Solutions” or the “Company”, together with its subsidiaries, the “Group”; stock code: 8062.HK), a leading electronic fund transfer point-of-sales (“EFT-POS”) solutions provider, is pleased to announce that the Company entered into a memorandum of understanding (the “MOU“) with Zand Bank, the United Arab Emirates (UAE)’s fully licensed all-digital bank, in relation to the potential cooperation in the establishment of electronic payment (e-payment) systems in the UAE.

According to the MOU, both parties are in the process of negotiating possible forms of cooperation, which may involve collaboration of the Group and Zand Bank in sharing knowhow on innovative payment systems and infrastructure services.

Mr. Andrew Lo Chun-kit, Chairman and CEO of EFT Solutions said, “We are honored to be the partner of Zand Bank in regards to developing e-payment systems in the UAE. With approximately 70% market share in Hong Kong, we are dedicated to spearheading the transformation of e-payment solutions, providing reliable and stable services to merchants in Hong Kong and globally.

In collaboration with Zand Bank, we will accelerate digital transformation in the regions, while driving the regions to become a smart city, thereby promoting the interconnectivity of e-payment solutions. We will continue to actively explore various overseas smart city projects to capitalize on emerging global market opportunities.”

As the UAE and Hong Kong are recognized as two major financial hubs, EFT Solutions and Zand Bank possess distinctive competitive advantages across the banking, insurance, and capital markets. The cooperation between both parties demonstrates the UAE’s active engagement in responding to the Belt and Road initiative in fostering sustainable economic growth and international cooperation, bolstered by its strategic partnerships with China and Hong Kong.

Mr. Michael Chan, CEO of Zand Bank, said, “We are excited to partner together as this aligns with the broader goals of innovation and digital transformation in the UAE, positioning both companies at the forefront of the fintech revolution.”

Click here to download more HD photos.
Hashtag: #EFTSolutions #ZandBank #SmartCities #SmartMobility

The issuer is solely responsible for the content of this announcement.

EFT Solutions Holdings Limited

EFT Solutions Holdings Limited (Stock Code: 8062.HK) has been committed to providing a full range of “EFT-POS” electronic payment solutions, including supporting software, terminals and peripheral devices, to bring convenience to people and improve their quality of life. It aims at providing the most suitable electronic payment solutions for different customers, as well as providing value added functions for EFT-POS terminals, and coordinating terminal installation and maintenance services. Its EFT-POS terminal services cover renowned restaurant group, banks, major chain stores and department stores in Hong Kong, and will be deployed across various APAC countries.

Zand Bank

Zand Bank is a fully licensed bank by the Central Bank of UAE since July 2022. Our mission is to enable our UAE and global corporate, institutional, and wealth clients to unlock new opportunities, foster sustainable growth, and drive together positive impact in the evolving digital economy. Think beyond banking; think Zand, where infinite opportunities await.

For more information, please visit www.zand.ae

For You Education Students Soar to Excellent Heights in IB Examinations, Vastly Outperforming Global Benchmarks


HONG KONG SAR – Media OutReach Newswire – 30 October 2024 For You Education (“For You”, or the “Centre”), a distinguished tutorial centre and the best IB tutor in Hong Kong, is pleased to announce the remarkable performance of its students in the prestigious International Baccalaureate (IB) Diploma Programme (IBDP) examinations. This sterling achievement underscores the Centre’s unwavering commitment to empowering students to reach the zenith of their academic potential.

A group photograph of the Center's founder (in the middle) alongside its star instructors and outstanding students
A group photograph of the Center’s founder (in the middle) alongside its star instructors and outstanding students

In the 2023 IB results, 50% of For You Education students attained the esteemed higher IB points, scoring between 43-45 out of a maximum of 45 points. Furthermore, the exemplary average total IB points scored by For You Education students stood at an impressive 39.7 (max. total points for each candidate is 45), significantly outpacing the global average of 30.24 and the Hong Kong mean of 36.4. The IBDP is an internationally recognised curriculum widely accepted by universities worldwide. Its renowned international recognition was recently further solidified by the esteemed American Council on Education (ACE), which recommended that U.S. colleges and universities award university credit for IB Standard Level subjects, underscoring the programme’s academic rigour and prestige.

For You’s holistic approach to IB preparation encompasses private IB tuition, meticulous guidance in navigating the IA (Internal Assessment), EE (Extended Essay), and TOK (Theory of Knowledge), along with a multifaceted approach that seamlessly aligns with the IB’s emphasis on fostering well-rounded excellence, personal growth, and social development, empowering students to elevate their academic aspirations to new heights and equipping them for triumphant trajectories in university with standout admissions to renowned institutions across a diverse range of disciplines. Among the notable achievements, one of For You’s previous students has been accepted into the prestigious Economics program at the University of Chicago. Another has earned a place in the highly competitive Medicine programs at both the University of Hong Kong and the University of Toronto. Additionally, one has enrolled on the Engineering program at Imperial College London, and another student has been admitted to the Business program at the University of Melbourne.

“We are truly humbled and overjoyed to witness the outstanding triumphs of our students in the IB examinations,” remarked Mr. Terry, the Director of For You Education. “This unparalleled success is a direct reflection of the unwavering dedication of our highly experienced and knowledgeable IB tutors, as well as the personalised attention and comprehensive curriculum support we steadfastly provide to our students. For You strives to provide the most exceptional quality of education and to empower our students to become globally-minded, lifelong learners. We will continue to innovate and refine our teaching methodologies to remain at the vanguard of educational excellence,” added Centre Directors Mr. Johnny and Mr. Leo.

In addition to its acclaimed IB tutoring services, For You Education offers a diverse array of academic programmes with top-notched examination preparation guidelines and supports, including IGCSE, General Certificate of Education Advanced Level (GCE A Levels), International Advanced Levels (IAL), IELTS, and HKDSE, solidifying its reputation as a trusted and preeminent choice for students in Hong Kong and the surrounding region.
Hashtag: #foryoueducation

The issuer is solely responsible for the content of this announcement.

About For You Education

Established in 2013 within the vibrant Causeway Bay district, For You Education has steadfastly continued to deliver exceptional teaching services to students hailing from Hong Kong’s most esteemed international and local schools. Upholding the highest standards of pedagogical efficiency, our classes are primarily offered in one-on-one or small group settings, enabling each student to receive the focused attention and personalized support necessary to meet their unique academic needs. In addition to comprehensive curriculum-based instruction, For You Education also boasts extensive expertise in preparing students for a diverse array of prestigious international examinations, including the IGCSE, IB, GCE, and SAT. From providing guidance on vital components such as the IA, EE, TOK, and IOC, to cultivating well-rounded academic excellence, the Center remains unwavering in its commitment to empowering students to reach their full potential.

For more information, please visit:

AIM Vaccine’s heavyweight single-product mRNA RSV Vaccine obtained the clinical trial approval


HONG KONG SAR – Media OutReach Newswire – 30 October 2024 – AIM Vaccine (06660.HK), the leader in Chinese mRNA vaccines, announced on 30th October that mRNA respiratory syncytial virus (RSV) vaccine developed by a controlled subsidiary of the Group , has been recently obtained from the National Medical Products Administration, which marks a new progress of the research and development of the vaccine.

RSV, a common respiratory tract infection pathogen, is highly contagious and widely prevalent worldwide. RSV infection is an important cause of death in infants under one year old and also an important factor in the death of respiratory tract infections in the elderly. Meanwhile, people who have been infected with RSV previously are still at risk of being reinfected with RSV.

At present, there is no approved antiviral drug specifically for RSV that is available for clinical use worldwide. Therefore, the prevention of RSV has become an important strategy to resist the health threat from RSV, and vaccination for active immune prophylaxis is an effective means to avoid severe RSV infection.

No RSV vaccine has been approved for marketing in China, and now there are two RSV vaccines from GlaxoSmithKline and Pfizer on the global market. In 2023, the global sales of RSV vaccines reached US$2.46 billion. According to the forecast of China Insights Industry Consultancy Limited, an industry consultant, it is expected that the global market size of RSV vaccines will reach approximately US$16.7 billion by 2030 (Approximately HK$130 billion).

In June this year, Moderna’s RSV vaccine was approved by the US FDA. Citic Securities Research report pointed out that this is the second commercial mRNA vaccine in the world after the new coronavirus vaccine, further promoting the application of mRNA technology in the field of non-new coronavirus vaccine research and development, and RSV vaccine is expected to become the next heavyweight product in the field of mRNA vaccine.

It is worth noting that compared with traditional vaccines, the delivery of mRNA vaccines does not require specific plasmid vectors, does not enter the nucleus, has stronger immunogenicity and safety, has lower production costs, and can be delivered in a short time. Put into production. Currently, there are very few competitors in the field of mRNA vaccines globally, and the technologically cutting-edge mRNA vaccines are a veritable blue ocean.

AIM Vaccine is one of the enterprises that take the lead in developing mRNA vaccine products in China, and also one of the first batch of domestic vaccine enterprises that have obtained an independent patent for mRNA technology. The Group has a mature mRNA vaccine research and development system and has developed several mRNA vaccine candidates, including but not limited to mRNA rabies vaccine, mRNA RSV vaccine and mRNA shingles/herpes zoster vaccine, etc.

AIM Vaccine has also established a sound quality management system for mRNA vaccines and a commercial-scale production workshop in line with GMP standards, and vaccines produced on the mRNA technology platform have also been verified by clinical trials. The Group has now smoothened the whole life cycle process such as the research, development and production of mRNA vaccines, allowing for rapid achievement of the industrialization of mRNA vaccine products after the completion of the clinical trials as well as the acceleration of the commercialization process of vaccine products. According to data, the market size of mRNA vaccines and therapies will grow rapidly at a compound annual growth rate of 16.8% from 2023 to 2028, and is expected to reach US$101.8 billion in 2028.

AIM Vaccine will rapidly advance the clinical trials of the mRNA respiratory syncytial virus (RSV) vaccine. As a new and globally heavyweight key vaccine product, this product is expected to become a new growth driver of the Group after its launch.
Hashtag: #AIMVaccine

The issuer is solely responsible for the content of this announcement.

The Hong Kong Institute of Surveyors Building Surveyors Conference 2024 “Transformative Trends in Building Surveying”


HONG KONG SAR – Media OutReach Newswire – 30 October 2024 – The Hong Kong Institute of Surveyors Building Surveying Division (HKIS-BSD) hosted the Building Surveyors Conference 2024 (“the Conference”) at the Sheraton Hong Kong Hotel & Towers on 25 October. With the theme of “Transformative Trends in Building Surveying”, the Conference focused on exploring the latest technological advancement supporting surveyors in their work, identifying new sustainable building practices for environmental friendliness, and recognizing the diverse roles of surveyors in timely and quality execution of development projects. This year’s conference was honoured to have Ms HO Wing-yin, Winnie, JP, Secretary for Housing, HKSAR Government, as the Guest of Honour. The event also gathered professionals from Government departments, business leaders, experts and academia to share their experience and perspectives on related topics.

Ms HO Wing-yin, Winnie, JP, Secretary for Housing, HKSAR Government (second from left); Sr LAM Ka-fai, Francis, President of The Hong Kong Institute of Surveyors (second from right); Sr LEE Hoi-tat, Nathan, Chairman of The Hong Kong Institute of Surveyors Building Surveying Division (right); and Sr LAU Cheuk-kit, Paul, Chairman of the Organising Committee of the Building Surveyors Conference 2024(left), convenes at The Hong Kong Institute of Surveyors Building Surveyors Conference 2024, sharing valuable insights and expertise.
Ms HO Wing-yin, Winnie, JP, Secretary for Housing, HKSAR Government (second from left); Sr LAM Ka-fai, Francis, President of The Hong Kong Institute of Surveyors (second from right); Sr LEE Hoi-tat, Nathan, Chairman of The Hong Kong Institute of Surveyors Building Surveying Division (right); and Sr LAU Cheuk-kit, Paul, Chairman of the Organising Committee of the Building Surveyors Conference 2024(left), convenes at The Hong Kong Institute of Surveyors Building Surveyors Conference 2024, sharing valuable insights and expertise.

The year of 2024 has undergone technical, legal and environmental challenges for the built environment and the building profession. The Conference, themed “Transformative Trends in Building Surveying”, aims to provide insightful and comprehensive perspectives on issues that arouse public attention.

During the conference, Ms HO Wing-yin, Winnie, JP, Secretary for Housing, shared with participants the concepts and designs of estates and their role in promoting well-being and enhancing the future for residents through a human-centric approach and collaborative innovation. She explained about the “Well-being Concepts” and Well-being Design Guide, which include (1) Health & Vitality and (2) Green Living & Sustainability for individuals; (3) Age Friendliness and (4) Intergenerational & Inclusive Living for families; (5) Urban Integration and (6) Family & Community for the community; and (7) Upward Mobility and (8) Perception & Image for society. She expressed hope that by implementing these concepts and design guidelines in existing estates and new public estates, more warmth and comfort could be brought to families in Hong Kong.

Other distinguished speakers included Ms YU Po-mei, Clarice, JP, Director of Buildings, Buildings Department, HKSAR Government, discussing about the modernising the building control system; and Sr SIN Kwok-leung, Alan, Deputy Director of Architectural Services, Architectural Services Department (ArchSD), HKSAR Government, sharing his thoughts on innovative trends in facilities development and upkeep by ArchSD. These topics sparked enthusiastic discussions among the participants.

Sr LAM Ka-fai, Francis, President of The Hong Kong Institute of Surveyors, expressed that the landscape of building surveying has been evolving rapidly, influenced by advancement in technology, sustainability practices, and regulatory frameworks, shifts in societal needs, and the growing complexity of urban development. He further stated that the trends today were only the beginning of a broader transformation that would reshape the approach of land, infrastructure and environmental management. He encouraged the professionals to remain adaptable, forward-thinking and committed to excellence while embracing these changes.

Sr LEE Hoi-tat, Nathan, Chairman of HKIS-BSD echoed that the rapid advancement in technology, evolving regulatory landscapes and growing emphasis on environment have been driving significant changes in the building surveying profession’s approach to their work. These shifts presented both challenges and remarkable opportunities for innovation. Building surveying professionals would hold a critical role in navigating these transformations while upholding the highest standards of professionalism and integrity.

Sr LAU Cheuk-kit, Paul, Chairman of the Organising Committee of the Building Surveyors Conference 2024, said in his closing remarks that the Conference had provided an exciting platform for sharing breadth of views and experience, discussing emerging trends, and exploring the future of building surveying. He expressed appreciation to the Guest of Honour and speakers for their invaluable insights at the Conference, which would undoubtedly inspire new ideas and foster collaboration among the industry.

List of Guest of Honour and Speakers (in the order of speech delivery)

Guest of Honour

  • Ms HO Wing-yin, Winnie, JP, Secretary for Housing, HKSAR Government

Speakers

  • Ms YU Po-mei, Clarice, JP, Director of Buildings, Buildings Department, HKSAR Government
  • Sr SIN Kwok-leung, Alan, Deputy Director of Architectural Services, Architectural Services Department, HKSAR Government
  • Sr WONG Se-king, Peter, Director, Building Rehabilitation, Urban Renewal Authority
  • Prof Wilson W.S. LU, Head of Department and Chair Professor (Digital Construction), Department of Real Estate and Construction, The University of Hong Kong
  • Ir KWONG Ching-wai, JP, Chairman & Chief Executive, Hong Yip Holdings Ltd.
  • Mr Terence LUI, CEO, Varadise Ltd
  • Dr Brenda L.P. YIP, Director, BK Surco Limited
  • Sr CHAN Ka-man, Margaret, Barrister-at-Law

Hashtag: #HKIS

The issuer is solely responsible for the content of this announcement.

About the Hong Kong Institute of Surveyors

Established in 1984, The Hong Kong Institute of Surveyors (HKIS) is the only surveying professional body incorporated by ordinance in Hong Kong. As of 2 October 2024, the number of members reached 11,142, of which 8,022 were corporate members. HKIS work includes setting standards for professional services and performance, establishing codes of ethics, determining requirements for admission as professional surveyors, and encouraging members to upgrade skills through continuing professional development.

The Institute has an important consultative role in government policy making and on issues affecting the profession. We have advised the government on issues such as building safety and unauthorised building works, problems of property management, town planning and development strategies, construction costs and housing problems. We have also issued guidance notes on floor area measurement, real estate valuation and land boundary survey, etc.

Please visit our official website:
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About Building Surveying Division of the Hong Kong Institute of Surveyors

Established in 1985, Building Surveying Division (BSD) is one of six divisions of the HKIS. The total number of professional Building Surveyors as of 2 October 2024 has increased to 1,589 from 119 since its establishment. In the 39 years, the Division organised many conferences and visits and produced a number of publications to promote the service and image of building surveying profession.

Professional building surveyors are qualified by professional assessments with prescribed practical training. We uphold the stringent professional standards of the HKIS, which require a high level of service and efficiency as well as compliance with a strict code of professional conduct.

AstraZeneca Indonesia Recognized as the Best Places to Work for Three Consecutive Years


JAKARTA, INDONESIAMedia OutReach Newswire – 30 October 2024 – AstraZeneca, a leading research-based multinational pharmaceutical and biopharmaceutical company, has once again been named the Best Places to Work (BPTW) in Indonesia for the third time. This award affirms AstraZeneca’s commitment to creating a positive and supportive work environment for all employees.

Esra Erkomay, President Director of AstraZeneca Indonesia said, “We are very proud of the recognition as the Best Places to Work for three consecutive years. This achievement reflects our commitment to creating a work environment where every employee can thrive and thrive. We believe by paying close attention to our employees, we can bring more innovative and effective health solutions to patients across Indonesia.”

Based on the survey conducted, AstraZeneca Indonesia managed to achieve certification as the Best Place to Work with a total score of 84%. Most of the employees, i.e. 95%, rated AstraZeneca as an excellent company. In addition, 83% of respondents feel very engaged and motivated to work, even exceeding expectations.

Apriza Liz Tresia Dewi, Head of Human Resources of AstraZeneca Indonesia, stated, “With this achievement, we will continue to strive to create work environment that is diverse, inclusive, safe, and encourage each team member to optimize their potential and achieve the best achievements. We value the uniqueness of each individual and our commitment is to provide equal opportunities for all.”

The survey further revealed that 85% of AstraZeneca employees feel proud of their corporate social responsibility (CSR) initiatives, and sustainability efforts for environmental management. “The company’s commitment to implementing ethical and sustainable business practices also fosters pride among AstraZeneca Indonesia employees,” added Apriza.

This award not only reflects AstraZeneca’s dedication to providing the best work experience, but also affirms the company’s commitment to continue to innovate and meet the health needs of the public in Indonesia.

Every year, the Best Places to Work program assesses various local and multinational organizations in Indonesia to strengthen their workplace culture. With this award, AstraZeneca Indonesia once again shows that investment in human resources is the key to achieving mutual success.

For more information, visit www.astrazeneca.com.
Hashtag: #BestPlacesToWork

The issuer is solely responsible for the content of this announcement.

Gorilla Announces Strong Outlook for 2024 and Sets Breakthrough Growth for 2025


London, United Kingdom – Newsfile Corp. – October 29, 2024 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”), today announced its guidance for fiscal years 2024 and 2025, highlighting strong revenue growth, major new contract wins and continued global expansion across key regions.

Following the company’s recent webinar (GRRR WEBINAR OCT 24), Gorilla has reaffirmed its robust outlook for 2024, while projecting even stronger growth in 2025, driven by new contracts and significant strategic partnerships in Asia, MENA and Latin America.

2024 Projections and Strong Financial Position
Gorilla projects 2024 revenues to reach $72 million, with an EBITDA margin of over 20%, and net income of over $10 million. This builds on the momentum of 2023 and H1 2024, where Gorilla achieved a 222% increase in revenue and 456% growth in gross profit. Gorilla’s backlog (i.e. signed contracts) going into 2025 now stands at $93 million, providing a solid foundation for sustained growth.

Looking ahead to 2025, Gorilla projects revenues to surpass $90 million, with net income exceeding $15 million. The company is targeting EBITDA margins of 20-25%, further solidifying its financial stability and long-term profitability.

Our projections do not account for any impact from additional large-scale contracts. Following the Company’s transformative MENA project win in 2023, we are pursuing additional projects in the AI-powered analytics, cybersecurity and smart city sectors. Some of these contracts are in advanced stages of discussions and valued in the hundreds of millions. While not all of our contract wins will receive separate announcements, we will of course keep our investors apprised of new projects, that will continue to propel Gorilla’s leadership in these sectors and continue our financial performance.

Innovation and Product Development
The Gorilla Intelligent Network Director, launched in October 2024, is already seeing strong market demand and is poised to make a significant impact, with its full release set for mid-2025. This platform leverages our partnerships with industry leaders, including Intel and Red Hat, to integrate advanced security features and real-time intelligence into SD-WAN solutions tailored for enterprises of all sizes. Developed to meet the needs of businesses facing rapidly evolving security and connectivity challenges, the Intelligent Network Director allows for seamless scalability across diverse environments, from on-premise to cloud-based networks.

This innovative platform positions Gorilla to capture a substantial share of the growing $40 billion SD-WAN market. Furthermore, revenue from early-stage sales and market adoption of the Intelligent Network Director are not yet reflected in our 2025 projections, meaning these earnings represent significant upside potential.

Share Repurchase and Stock Price Valuation
Gorilla remains actively engaged in its share repurchase programme, having acquired 1.1 million shares in September 2024. With $3.8 million of the $6 million authorised already utilised, the company is committed to continuing the buyback, confident that the current stock price does not reflect its true value, especially given its strong cash reserves exceeding $40 million and solid growth outlook.

“We are on a relentless growth path,” said Jay Chandan, Chairman and CEO of Gorilla. “The momentum we have built in 2023 and 2024 is only the beginning. With massive contracts on the horizon and a global footprint that continues to expand, Gorilla is poised to become a global leader in AI-powered solutions by 2027.”

About Gorilla Technology Group Inc.
Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, Gorilla’s largest projects and ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

The issuer is solely responsible for the content of this announcement.

About Gorilla Technology Group Inc.