33.7 C
Vientiane
Monday, July 7, 2025
spot_img
Home Blog Page 1256

Cyberport Venture Capital Forum 2024 Grand Opening

Celebration of Cyberport Investors Network’s 7th Anniversary with Total Investments Surpassing HK$2.5B and Membership Exceeding 200


HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – The Cyberport Venture Capital Forum 2024, a premier annual event in the global venture capital scene organised by Cyberport, was inaugurated today. The two-day event, themed “Innovation Challenger: Building New Venture Visions”, brings together over 90 globally influential venture experts, entrepreneurial visionaries and innovative thinkers. They explore the future of innovation and entrepreneurship from fresh perspectives and delve into how emerging technologies such as Web3.0 and artificial intelligence (AI) can help companies and investors breakthrough in the rapidly evolving venture capital market, creating new opportunities. Meanwhile, Cyberport also celebrated the 7th anniversary of Cyberport Investors Network establishment, and Cyberport start-ups’ fundraising achievements.

The Cyberport Venture Capital Forum 2024 kicks off today, delving into the prospects and strategies of the venture capital market amid the shifting focus of emerging technologies and the global economy towards regions like the Middle East, ASEAN, and Greater China. Today's event also features the celebration of the seventh anniversary of the
The Cyberport Venture Capital Forum 2024 kicks off today, delving into the prospects and strategies of the venture capital market amid the shifting focus of emerging technologies and the global economy towards regions like the Middle East, ASEAN, and Greater China. Today’s event also features the celebration of the seventh anniversary of the “Cyberport Investors Network.”

During the event, Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, delivered the opening remarks; while Simon Chan, Chairman of Cyberport, presented the welcoming address. Hendrick Sin, Chairman of the Cyberport Investors Network (CIN) Steering Group, Co-Founder & Vice Chairman of CMGE Technology Group Limited, and Founding Partner of China Prosperity Capital, reviewed the impressive journey and achievements of CIN over the past seven years. Together with other guests, they officiated the opening ceremony, marking the official start of this eagerly awaited global forum.

Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, said in his remarks, “CVCF has been ‘connecting visionaries and cultivating the future’. It gathers the brightest minds from the innovation and technology (I&T) and the venture fund worlds, to brainstorm fresh ideas and approaches on how to support our start-ups in generating more breakthrough and new solutions. The Chief Executive announced a series of new and exciting I&T initiatives in his Policy Address last week to inject impetus into our I&T ecosystem. We will set up a $10 billion I&T Industry-Oriented Fund to channel more market capital to invest in specified emerging and future industries of strategic importance, and optimise the existing Innovation and Technology Venture Fund by redeploying $1.5 billion to set up funds jointly with the market on a matching basis to invest in Hong Kong’s start-ups ecosystem. We will also launch the Pilot I&T Accelerator Scheme which aims to attract professional start-up service providers with proven track records from local and outside Hong Kong to set up accelerator bases in Hong Kong, thereby fostering the robust growth of start-ups.”

Simon Chan, Chairman of Cyberport, stated in his welcoming speech: “The Policy Address delivered last week outlined plans for increased investment and guide more market capital initiatives, including the establishment of a HK$10 billion I&T Industry-Oriented Fund and the launch of the I&T Accelerator Pilot Scheme. These initiatives aim to enhance investment in the I&T sector and accelerate its overall development. As Hong Kong’s digital technology flagship and incubator for entrepreneurship, Cyberport will continue to align with the strategies of the HKSAR Government. Through international events likes the CVCF, we aim to further leverage Hong Kong’s unique role under the Belt and Road Initiative, fostering cross-border collaboration and supporting start-ups in exploring business opportunities in the Greater China, ASEAN and Middle East regions.”

During the Forum, Cyberport announced the signing of a Memorandum of Understanding with Draper Dragon to jointly establish the “Cyberport x Draper Dragon Web3.0 Accelerator Programme”. By integrating Draper Dragon’s Silicon Valley incubation experience with Cyberport’s thriving Web3.0 ecosystem, the collaboration aims to accelerate industry development across talent cultivation, project incubation, and investment, connecting Silicon Valley and Hong Kong’s related industries. Draper Dragon will also select suitable projects from Cyberport start-ups that completed the Accelerator Programme to invest in, enhancing innovation efficiency and aligning Hong Kong Web3.0 innovation with international standards. The agreement signing was witnessed by Simon Chan, Chairman of Cyberport, and Larry Li, Managing Partner of Draper Dragon. It was signed by Ir Eric Chan, Chief Public Mission Officer of Cyberport, and Richard Wang, Partner of Draper Dragon.

Tim Draper, Founder of Draper Dragon said in his pre-recorded speech, “I was happy to be working with Cyberport at Draper University where they brought in entrepreneurs coming from the Web3.0 world. I look forward to having this amazing on-going relationship with Cyberport and all the entrepreneurs associated with it. I think Web3.0 and decentralisation are huge transformational technologies that are going to change the entire nature of how we do things. Everything from banking to insurance and healthcare to legal, they are all going to be transformed by the new technologies. The power of Web3.0 will introduce the world to new ways of operating and I think this will bring the world closer together, wealthier and those living in it will be better off.”

Cyberport Investors Network Membership Internationalised with Expansion to Multiple Regions

The Cyberport Investors Network (CIN) has consistently attracted powerful investment entities from around the world, connecting them with high-potential companies within the Cyberport community. This year marks the 7th anniversary of CIN. Since its inception, CIN’s total investment amount has reached over HK$2.597 billion, an increase of more than HK$560 million from last year, representing a 64% year-on-year growth. Cumulatively, CIN has facilitated 96 project matches, 21 more than last year, reflecting a 1.5-fold annual increase. This year, more than 30 new investment entities have joined CIN, bringing the total number of investment entities to over 200, including investors from Mainland China and the Asia-Pacific region. This diversification showcases the global reach and inclusiveness of the network, attracting international venture capital.

Cyberport has also been continuously investing in high-potential start-ups within its ecosystem through the Cyberport Macro Fund (CMF) and has actively assisted them in securing funding. As of September 2024, CMF has invested in 28 start-ups projects, including Green Monday, a company developing plant-based meat products this year. This highlights the importance of green technology and sustainability for the future of society. Currently, the total investment amount of CMF and co-investments has exceeded HK$1.94 billion, with a co-investment ratio of 1:9, showcasing Cyberport’s strong capability in attracting investments.

On the future direction of the CIN, Hendrick Sin, Chairman of the Cyberport Investors Network (CIN) Steering Group, Co-Founder & Vice Chairman, CMGE Technology Group Limited, and Founding Partner, China Prosperity Capital, shared the following: “With the HKSAR Government continuously strengthening regional cooperation with the ASEAN and Middle Eastern markets, the ‘Cyberport Investors Network’ is fully prepared to play a key role in this effort. It aligns with current policies for investing in the I&T sector, focusing on both local and global expansion. Our goal is to achieve an annual growth rate of 20% in the number of investor members, providing a robust source of deals for investors while fully supporting the fundraising and growth of the Cyberport community. Looking ahead, the CIN and CMF will work together to facilitate more investment matchings, uncover investment opportunities, and to expand the global impact of Hong Kong’s start-ups.”

Cyberport Start-up Fared Well in Dealmaking with High-Value Ventures

Due to the impact of the macro economy, the global start-ups landscape is constantly changing. Entrepreneurs need bolder and more innovative visions to attract investors and build partnerships. Over the past year, Cyberport community start-ups have shown outstanding fundraising performance, successfully raising over HK$3.7 billion, a 23% increase year-on-year, bring the cumulative total to over HK$41.2 billion. Several companies recently completed significant funding rounds, including Klook, Leapstack, Buy&Ship, and MediConCen. Additionally, this year, Cyberport community member, HashKey Group, a licensed virtual asset trading platform, emerged as the eighth unicorn in the Cyberport community. This reflects the continued investor interest in the Web3.0 ecosystem.

Focusing on the Venture Capital Landscape: Interpreting Innovation Potential

This year’s Forum focuses on multiple keynote speeches and focused discussion, inviting several heavyweight figures from the venture capital industry to share global venture capital trends and analyse how emerging technologies, artificial intelligence and Web 3.0 are opening markets and fostering collaboration to drive innovative thinking.

Industry leaders, including Anson Bailey, Head of Consumer & Retail, Asia Pacific, KPMG China, shared the latest edition of “Venture Pulse Q3 2024”, analysing venture capital conditions and trends from a global and regional perspective. Yash Sankrityayan, Managing Partner, Jungle Ventures, discussed the history and future prospects of growth investment in ASEAN and shared successful experiences. Andrew Chung, Founder & Managing Partner, 1955 Capital, presented a framework for how entrepreneurs and investors must “invent the future” and shared a brighter view of how technologies – from climate tech to healthcare, and from AI to Web3 – can improve our lives. Additionally, Alex Witt, General Partner, Verda Ventures, explored how to capture the potential opportunities in Africa, the fastest-growing and largest Web3.0 market, through a unique approach combining technological expertise, distribution, and capital.

Strategic initiatives and funding support from the HKSAR Government are undoubtedly crucial for the development of the local I&T sector. Legislative Council Member Honourable Duncan Chiu, along with representatives from CUHK Innovation Limited, the Knowledge Transfer and Entrepreneurship Office of the Hong Kong Polytechnic University, and Beyond Ventures, as well as Hendrick Sin, Chairman of Cyberport Investors Network (CIN) Steering Group; Co-Founder & Vice Chairman, CMGE Technology Group Limited, and Founding Partner, China Prosperity Capital, joined business leaders to discuss the latest measures, strategies, and support from the HKSAR Government in supporting the development of the local I&T sector.

Another highlight of this year’s Forum is exploring how emerging technologies such as Web3.0 and artificial intelligence are driving market momentum. Jupiter Zheng, Partner at HashKey Capital, a member of the Cyberport Web3.0 Investment Circle, analysed future investment opportunities in the Web3.0 industry, while Richard Wang, Partner at Draper Dragon, emphasised the importance of supporting Web3.0 infrastructure and practical applications.

Web3 Spotlight Events Taking the Stage throughout the Second Day of the Forum

As a continuation of the conversation from CVCF, several Web3-focused events will follow, including the Web3.0 Project Demo Day – Inno Ignite, organised by BlockBooster. Start-ups at the forefront of the Web3 revolution will showcase their innovative projects at this event, revealing the unlimited potential of Web3 technology to attract funding. Participants will be able to interact with entrepreneurs and explore various investment opportunities for collaboration.

The second day of the Forum will feature the “Web3.0 Innovation Expo”, featuring over 15 global Web3.0 real-life use cases spanning digital payment, supply chain finance, digital identity authentication, financial innovations, sustainability, cultural preservation, etc. from various regions including Africa, Europe, South East Asia and the local Hong Kong. Industry experts will share blockchain success stories and valuable insights. Attendees will engage with corporate representatives, investors, Cyberport Web3.0 community members, and key blockchain ecosystem representatives to explore how Web3.0 is reshaping industries, driving innovation, and creating new opportunities.

Alongside this, as a sub-stage of the Web3.0 Innovation Expo, the Digital Visionaries Symposium 2024 will feature interactive sessions and panel discussions led by leading technology experts. It will delve into enterprise integration and transformative use cases of disruptive technologies such as AI and blockchain. (For the agenda of the second day and the “Web3.0 Innovation Expo,” please refer to the attachment.)

For programme schedules and full speaker line-up at this year’s CVCF, please visit: http://cvcf.cyberport.hk/

Appendix: Agenda of the Second Day and the “Web3.0 Innovation Expo”

Main Stage: Web3.0 Life: Demonstrating Real-World Solutions @ Function Room
Day 2 – 25 Oct (Fri) 14:00 – 19:00

Time Programme & target speakers
14:00 – 14:05 Welcome Remarks

  • Ir Eric Chan, Chief Public Mission Officer, Hong Kong Cyberport
14:05 – 14:10 Opening Remarks

  • Mr Joseph H. L. Chan, JP, Under Secretary for Financial Services and the Treasury, The Government of the Hong Kong Special Administrative Region
14:10 – 14:15 Group Photo
14:15 – 14:20 Development of Web3 Hub@Cyberport

  • Ms Georgina Chu, Chief Corporate Development Officer, Hong Kong Cyberport
14:20 – 14:35 Panel discussion 1: Defining Web3.0: Innovations and Impacts

Moderator: Ms Rachel Lee, Director of Web3 & FinTech Development, Hong Kong Cyberport

Panelists:

  • Mr Benjamin Chodroff, Head, HSBC Lab
  • Mr Vince Turcotte, Business Development Lead, Asia Pacific, Chainlink Labs
14:35 – 14:50 Panel discussion 2: Unleashing the Power of Stablecoins: Paving the Way for Financial Revolution

Moderator: Mr William Yao, Co-Founder, Global CPO & COO, Hamsa

Panelists:

  • Mr Sean Lee, Co-Founder and CSO, IDA
  • Ms Vivienne Fung, Head of Central Compliance Department, The Bank of East Asia
Web3.0 Use Cases Keynotes
AI + Web3
14:50 – 15:00 Keynote: Web3.0 Use Cases Keynote

  • Ms Anna Liu, General Manager of Tokenisation, HashKey Group
  • Mr Aaron Tsu, Growth Manager, AGI Open Network
  • Mr Chris Su, Founder & CEO, HolmesAI
Payment and Other Financial Innovations
15:00 – 15:10 Keynote: Stablecoins: The Emerging Market Story

  • Mr Alex Witt, General Partner, Verda Ventures
15:10 – 15:20 Keynote: Innovations in Digital Asset Custody

  • Mr Lucas Yang, Head of Sales and Solutions, Cobo
15:20 – 15:30 Keynote: Avalanche: Supporting Real World Use Cases

  • Mr Leroy Mah, Regional Head, Ava Labs
15:30 – 15:40 Keynote: The First PayFi Network

  • Mr Richard Liu, Co-Founder & Co-CEO, Huma Finance
Cultural
15:40 – 15:50 Keynote: IP-backed assets drive a new round of Renaissance

  • Mr Steven Mi, CEO, TraditioNow
Green and Supply Chain
15:50 – 16:00 Keynote: How a fintech is driving technology in construction

  • Mr Ben Wong, CEO, Riverchain
16:00 – 16:10 Keynote: Introduction to FISCO

  • Mr Philip Pun, Principal Product Evangelist, Webank
16:10 – 16:20 Keynote: OriginTrail: Decentralized Knowledge Graph

  • Mr Vincent Chan, Director, Polkaport East
  • Mr Zen Fong, OriginTrail’s APAC Partner & Ecosystem Builder
16:20 – 16:30 Keynote: Scaling Practical ESG impact with Web3.0

  • Mr Arthur Lam, Co-Founder & CEO, Negawatt Utility Limited
Financial Innovations
16:30 – 16:40 Keynote: Web3.0 Tokenization Use Cases

  • Mr Napoleon Lam, Senior Vice President, ABT
16:40 – 16:50 Keynote: Web3 Financial Innovation Use Cases

  • Mr Kevin Loo, CEO, DigiFT
Digital Identity & Verification
16:50 – 17:00 Keynote: Embracing Decentralised Identity

  • Mr Benjamin Chodroff, Head, HSBC Lab
17:00 – 17:10 Keynote: Ownership Transfer and Verification

  • Mr Jacky Lam, Executive Director, Certizen
Entertainment & Culture
17:10 – 17:20 Keynote: Cultural

  • Mr Sebastien Borget, Co-Founder & COO, The Sandbox
  • Ms Flora Chan, Partnership Account Manager, Great Entertainment Group
17:20 – 17:30 Keynote: Integrated AI Travel Web3 Platform

  • Ms Emma Lang Zijun, Marketing Manager, China Year International Technology Limited
17:30 – 17:55 Panel 3: Bridging the gap: The Road to Mass Adoption

Moderator: Ms Laura Wang, Partner, Elven

Panelists:

  • Mr Raj Bagadi, Founder & Director, E Money Network
  • Ms Serra Wei, Founder, Aegis Custody
  • Mr Justin Chan, CFA – Executive Vice President, Head of Business & Partnerships, RD Technologies
17:55 – 19:00 Networking Cocktail

Hashtag: #cyberport

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

About Cyberport

Cyberport is an innovative digital community with over 2,100 members including over 900 on-site and close to 1,200 off-site start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economic by accelerating digital transformation in the public and private sectors.

For more information, please visit

Acquisition of Three High-Quality Assets Drive Diversified Business Development for Goldstream Investment

HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – Goldstream Investment Limited (Stock Code: 01328.HK) announced that the resolutions were unanimously passed at the extraordinary general meeting held on 21 October, 2024, for the signing of three agreements, including Feasible Result agreement, USFL agreement and TechStar agreement, the Company will acquire three high-quality assets of Hony Capital Group Limited with a total consideration of approximately US$38 million.

This acquisition will not only provide stable cash flow support for the long-term development of Goldstream Investment Limited but also signifies the strategic upgrade, driving the diversification of business development and is expected to create greater value for shareholders, among these:

  • Goldstream Investment Limited acquires a 30% equity interest of Feasible Result for US$26 million, and Feasible Result indirectly owns 100% equity interest in Shanghai Li Fung, which is in turn the registered owner of LiFung Plaza. LiFung Plaza’s positioning aligns fully with Shanghai’s plan to build a “3+6” new industrial system. It has transformed into a vibrant community centered around the AI and fashion industries, drawing in a cluster of technology and new economy companies to settle in. It is expected to bring in the property rental income and long-term enhancement of value in the future;
  • The Company indirectly acquires a 32% equity interest of USFL for US$5 million. The sole assets of USFL will be 908,000 Advaccine Shares, with no liabilities. As a Company listed on the NEEQ, Advaccine is a leading biotechnology enterprise incorporated in China. Its RSV vaccine is one of the fastest-developing products in China and is expected to generate stable revenue after commercialisation;
  • The Company acquires TechStar for a total consideration of US$6.877 million for shares for sale and warrants for sale. TechStar is a Special Purpose Acquisition Company (SPAC) listed in the Stock Exchange of Hong Kong focusing on the acquisition of high-growth companies in the “new economy” sector in China. Upon successful completion of any special purpose acquisition company mergers and acquisitions transactions, it will provide the Company with potential equity value growth.

This year, Goldstream Investment Limited has embarked on a high-speed development mode. At the beginning of the year, Mr. Gao Ziqi was appointed as the Executive Director and Chief Executive Officer of Goldstream Investment, bringing new vitality into the Company’s development. On the basis of the existing fund management business, the Company has newly opened up new modules such as corporate services, financial investments, and strategic investments, promoting the Company’s strategic upgrade and diversification of business development. Goldstream Investment Limited has successively established strategic cooperation with Meitu, Inc., iDreamSky Technology Holdings Limited and SenseTime Group Limited. In the future, the Company will continue to explore strategic cooperation with other companies to identify opportunities for synergies and mutual development.

While upgrading its strategy, Goldstream Investment Limited is also committed to enhancing its risk management capabilities and improving its operational efficiency to ensure sustainable growth and profitability. Despite of the market volatility experienced in the global financial markets in the first half of 2024, Goldstream Investment Limited has shown strong resilience and growth potential in the face of market challenges. The Company’s investment management (IM) services income increased by 34.3% compared with the Last Corresponding Period, and its strategic direct investments (SDI) business also recorded a significant increase of 91.9% compared with the Last Corresponding Period. The profit before income tax increased significantly by 36.1%.

Management stated that the Company remains positive about the market in 2024 and expects the SDI and IM businesses will continue to grow momentum in the remaining part of 2024. The Company will be well-positioned to take advantage of the economy recovery in China and is confident about the future. The above-mentioned major acquisitions are beneficial for improving the Company’s fundamentals and market value. Furthermore, it is not ruled out that Hony Capital Group Limited will further add high-quality assets on favorable terms in the future.
Hashtag: #GoldstreamInvestment

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

VinFast Officially Launches VF 7 For Sale in the Philippines


MANILA, PHILIPPINES – Media OutReach Newswire – 24 October 2024 – VinFast has officially announced pricing and opened reservations for its five-seater VF 7 electric SUV during the 12th Philippines Electric Vehicle Summit (PEVS), marking the third VinFast vehicle available in the Philippine market after the VF 5 and VF 3 models. This launch also underscores VinFast’s commitment to advancing green transportation in the Philippines and expanding its diverse electric vehicle offerings across Southeast Asia.

VinFast has announced pricing and opened reservations for its five-seater VF 7 electric SUV during the 12th PEVS.
VinFast has announced pricing and opened reservations for its five-seater VF 7 electric SUV during the 12th PEVS.

In the Philippines, the VF 7 will be available in two versions: Base and Plus, offering a variety of options tailored to meet the needs of different customers. Prices range from 1,470,000 pesos (battery subscription) to 1,760,000 pesos (battery included) for the Base version, and from 1,730,000 pesos (battery subscription) to 2,380,000 pesos (battery included) for the Plus version. The battery subscription plans start at just 6,300 pesos per month, allowing for cost optimization based on travel needs.

Monthly Travel Distance Monthly Battery Subscription Fee
< 1,500 km 6,300 pesos
1,500–2,500 km 9,000 pesos
> 2,500 km 15,000 pesos

Starting from October 24, customers can place a deposit of 5,000 pesos per vehicle through VinFast’s official website or authorized dealerships (refundable under VinFast’s terms). Additionally, those who reserve their VF 7 before November 24 will be eligible for discounts of up to 53,000 pesos and receive attractive gifts valued at up to 57,000 pesos.

Mr. Cao Ngoc Nguyen Duy, CEO of VinFast Philippines, shared: “The VF 7 is one of the boldest and most innovative models in VinFast’s extensive electric vehicle lineup. Our goal is more than just launching a new vehicle. We are inspiring a way of life centered around sustainability, promoting environmentally conscious and energy-efficient habits. By offering our products, we hope to partner with the Philippines in advancing a shared vision of a sustainable future and playing an active role in the global mission to cut carbon emissions.

The VF 7 Plus is equipped with dual electric motors, delivering a combined power output of 348.6 horsepower and 500 Nm of torque, and features all-wheel drive. The battery pack has a capacity of 75.3 kWh, providing a maximum driving range of approximately 496 km on a full charge (based on NEDC standards).

The VF 7 Base features a single electric motor with 174 horsepower and 250 Nm of torque. Its battery capacity is 59.6 kWh, offering a maximum range of 430 km per full charge (based on NEDC standards).

Both versions come equipped with essential safety features such as electronic stability control, traction control, hill-start assist, and anti-roll control. The Plus version also includes the Advanced Driver Assistance System (ADAS), which offers features like adaptive cruise control, lane departure warning, forward collision warning, rear cross-traffic alert, blind-spot monitoring, door-opening alert, automatic emergency braking, and a 360-degree camera system.

Beyond its impressive performance, the VF 7 features a highly aesthetic design. The car was designed by the renowned Torino Design studio in Italy, embodying four key elements: a unique overall design, distinct recognition details, refined finishes, and functional performance.

In addition to a wide array of pricing incentives and unique battery subscription plans, VinFast also offers a comprehensive after-sales service program, providing peace of mind for customers transitioning to green mobility. The VF 7 comes with a 10-year/200,000 km vehicle warranty, an 10-year unlimited mileage battery warranty (for battery purchases), and free maintenance, with battery replacement available if capacity falls below 70% (for battery subscription).Hashtag: #VinFast

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

About VinFast

VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle (“EV”) manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at:

PAKT Wins Vogue BMW Innovation Prize 2024


HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – PAKT has been named the winner of the Vogue BMW Innovation Prize 2024, marking the Hong Kong start up’s second consecutive year in the competition. Following their launch in Hong Kong in 2016, they entered the Singapore market in 2023, and the win was announced at a captivating NEXT IN VOGUE gala dinner in Singapore where guests included industry-defining luxury brands, fashion icons and global celebrities including Academy Award nominee Stephanie Hsu. This incredible recognition coincides with the 8th anniversary of PAKT.

Barbara Yu Larsson Founder PAKT accepts Innovation prize from Lars Nielsen Managing Director BMW Group Asia
Barbara Yu Larsson Founder PAKT accepts Innovation prize from Lars Nielsen Managing Director BMW Group Asia

PAKT is a unique service revolutionising wardrobe management, that allows clients to store, digitise and sell their clothes and accessories. Its key functions include specialised storage in a climate-controlled warehouse, a digital inventory, deliveries on demand and the ability to sell items you no longer love, all managed through a personalised app.

“Winning the Vogue BMW Innovation Prize 2024 is global validation for PAKT and will bring us to the next stage of our journey as we continue our commitment to circularity,” says Barbara Yu Larsson, Founder and CEO PAKT. “Our vision is to revolutionise the way people manage what they wear and solve real problems by combining specialist care with the power of AI to expand our offerings.”

Lars Nielsen, Managing Director of BMW Group Asia, emphasized the group’s vested interest in nurturing the next generation of innovators, stating, “Coming off the heels from the incredibly successful inaugural Vogue Singapore x BMW Innovation Prize in 2023, we’re committed to elevating the experience in 2024. Embracing our dedication to nurturing creativity and empowering emerging talents in ASEAN, when creative minds come together, sparks fly! Be it digitalisation, groundbreaking ideas, or cutting-edge design, collaboration is the driving force propelling us into the future.”

Shortlisted applicants were invited to participate in a two-day bootcamp, followed by a month long mentorship programme, before presenting their business models to a final jury that included: Renzo Vitale, Creative Director Sound, BMW Group, Amanda Parkes, Chief Innovation Officer, Pangaia, Lauren Bartley, Chief Sustainability Officer, GANNI.

In addition to a monetary prize of SGD$20,000, the winner also receives media support, complimentary membership at the Singapore Fashion Council and an all-expenses-paid trip to Monaco courtesy of VisitMonaco.
Hashtag: #vogueinnovationprize #getpakt



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

PAKT

PAKT is the premier service for wardrobe management that integrates fashion storage, digital innovation and circular wardrobe solutions. With effortless convenience and professional care, PAKT provides speciality storage, a digital inventory, after care and consignment with resale partners. In today’s world of changing clothing ownership, amidst a growing focus on responsible consumption, PAKT’s vision is to revolutionise the way the modern wardrobe is managed, and our mission is to extend the life of clothing and accessories.

Hong Kong: future-proofing the financial system for long-term sustainability


HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region, is visiting the United States (October 22-24), where he delivered keynote speeches at the Bloomberg Global Regulatory Forum on the topic of financial sustainability (October 22) and at a business luncheon (October 23) in New York.

At the Bloomberg Global Regulatory Forum, Mr Chan highlighted how Hong Kong’s robust regulatory regime and international connectivity can play a role in building a future-proof financial system for long-term sustainability.

Hong Kong’s Financial Secretary, Paul Chan, speaks at the Bloomberg Global Regulatory Forum in New York.
Hong Kong’s Financial Secretary, Paul Chan, speaks at the Bloomberg Global Regulatory Forum in New York.

“Our strong fundamentals continue to be internationally recognised. Hong Kong ranks once again among the top three global financial centres, behind only New York and London,” Mr Chan said, adding that Canada’s Fraser Institute has again ranked Hong Kong the world’s freest economy.

These commendations are echoed by the global investor community, said Mr Chan. “Total banking deposits in Hong Kong, for example, have grown 5%, or US$100 billion, this year to date, reaching more than US$2 trillion. Our asset-and-wealth-management sector is also growing. We are managing over US$4 trillion in assets, and over half of that value was sourced from investors outside Hong Kong and the Chinese Mainland.”

Under “one country, two systems”, Mr Chan said international investors could be confident in Hong Kong’s future, thanks to advantages including the common law tradition; a judiciary that exercises powers independently; the free flow of goods, capital, talent and information; a currency pegged to the US dollar and business practices that align with the best international standards.

Hong Kong ranked as the world's freest economy by Fraser Institute.
Hong Kong ranked as the world’s freest economy by Fraser Institute.

Elaborating on the dual mandate of Hong Kong’s financial regulators as both regulators and market enablers, Mr Chan said: “This requires the regime to respond to market and economic changes, embrace and empower technological innovation, and create the conditions for markets to thrive.”

Noting that innovation was reshaping the future of finance, Mr Chan shared two key development directions for Hong Kong: continuing to deepen the Connect Schemes between Hong Kong and Mainland China and strengthen the links and regulatory co-operation with Mainland and global capital markets; and embracing innovation, which includes enabling the responsible and sustainable development of digital assets.

Mr Chan added that Hong Kong was strengthening connections with other markets in ASEAN, the Middle East and the Belt and Road countries.

The Financial Secretary also attended a luncheon co-hosted by the Hong Kong Economic and Trade office in New York and the Hong Kong Association of New York (October 23). He told attendees from businesses, institutions, chambers of commerce and think tanks that Hong Kong would continue to play its unique role as a “super connector” and “super value-adder”, linking capital markets and investors of Mainland China and the global community to create value and opportunities for all.

He also introduced Hong Kong’s latest development strategies, particularly new initiatives in key areas such as finance and innovation and technology, attracting businesses and talent, and the increasingly close co-operation and collaborative developments with sister cities in the Guangdong-Hong Kong-Macao Greater Bay Area.
Hashtag: #hongkong #brandhongkong





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

EFT Solutions Awarded as “Asia Best Under A Billion” by Forbes


HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – EFT Solutions Holding 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 it was accredited as “Asia Best Under A Billion” by Forbes, a renowned international financial magazine.

Forbes “Asia Best Under A Billion” aims to honor high-performing Asia-Pacific listed companies with sustainable long-term growth. The panel of judges evaluates over 20,000 listed companies across the region, selecting 200 standout enterprises based on their comprehensive scores. The evaluation encompasses the company’s performance metrics over the most recent fiscal year and the preceding three years. This includes an analysis of debt levels, revenue growth, and earnings per share growth.

Furthermore, the assessment also considers the strongest annual return on equity as well as the five-year average return on equity, ensuring a thorough and rigorous appraisal of each company’s financial health and performance.

Mr. Andrew Lo Chun-kit, Chairman and CEO of EFT Solutions, said,We are honored to be recognized by Forbes as one of the enterprises in ‘Asia Best Under A Billion,’ which reflects the long-term development direction of our group and the confidence of our investors. The business landscape is rapidly evolving, particularly in the electronic payment sector. As a leading local provider of electronic payment terminal solutions, we are dedicated to delivering innovative and diverse electronic payment solutions to our clients over the years, thereby fully addressing their system integration needs.

Looking ahead, we will continue to develop and provide various technological support to create more cashless payment scenarios for consumers. Additionally, we are actively exploring opportunities to export our electronic payment solutions to overseas markets, aiding in the establishment of relevant ecosystems in different regions, as well as ensuring stable growth and deliver optimal returns to shareholders in a volatile economic environment. ”

Click here for HD photo.
Hashtag: #EFTSolutions #Forbes #AsiaBestUnderABillion

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.

Anichess launches public alpha and partners with Yield Guild Games (YGG) to distribute Animoca Brands’ chess-based strategy game

Strategy game combining traditional chess and a magic system in a decentralized framework further expands presence in Southeast Asia


HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – Anichess, the progressive chess-based online strategy game from Animoca Brands, developed in partnership with Chess.com and five-time World Chess Champion Magnus Carlsen, announced today that it has launched the public alpha version of its game. Additionally, Anichess has partnered with Yield Guild Games (YGG) to distribute the game in Southeast Asia, which represents one of Anichess’ top three regions in terms of registered players. The launch and partnership underscore Anichess’ commitment to advancing Web3 gaming in the region through its novel interpretation of one of the world’s oldest and most popular games.

Anichess launches public alpha and partners with Yield Guild Games (YGG) to distribute Animoca Brands’ chess-based strategy game

The public alpha version of Anichess introduces players to a unique blend of traditional chess and innovative spell mechanics, delivering an immersive gaming experience. Following the release of player-versus-environment (PvE) spell chess puzzles earlier this year, Anichess players can now engage in player-versus-player (PvP) matches, train against AI-controlled opponents, and unlock new spells through game progression. Anichess now offers players four new game modes: ranked match, quick match, friend match, and bot match. Players can climb the ranks and earn points on the leaderboard based on their performance.

By partnering with YGG, Anichess aims to enhance distribution and onboarding efforts across Southeast Asia, targeting chess players, gaming enthusiasts, and students from schools and universities. To kickstart the partnership and showcase the new PvP functionalities, Anichess and YGG will organize a tournament with qualifying rounds starting in October and culminating in a final to be held during the YGG Play Summit in November in Manila, Philippines. The partnership also involves collaborations with guilds, institutions, and content creators to foster greater engagement and community building throughout the region.

Brian Chan, head of Anichess, said: “We’re excited to launch the next phase of Anichess and invite players to the new player-versus-player experience. Our partnership with YGG expands our reach to a diverse audience across Southeast Asia, a region that is strategically important due to its vibrant gaming and chess communities. Engaging these audiences will help us realize our vision of delivering an engaging, community-centric and decentralized experience to a wide global audience.”

Gabby Dizon, co-founder of Yield Guild Games, added: “The Philippines has always had a very active competitive gaming community. Of course, that includes chess. We’re excited to see the YGG community dive into this new take on one of the world’s oldest competitive games.”

Since January 2024, Anichess has welcomed over one million registered wallets while maintaining a player base of 30,000 monthly active players. These players have collectively solved over 50 million puzzles and recorded more than 14 million minutes of total game time.

Anichess can be played for free at www.anichess.com. Fans can follow Anichess on X and join its Discordserver to stay updated on future developments.

Hashtag: #Anichess

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

About Anichess

Anichess is a subsidiary of Animoca Brands focused on developing and advancing decentralized chess through its distinctive spell-chess gameplay. Anichess brings new energy and innovation to one of the world’s oldest and most widely played games, modernizing and tokenizing it to take advantage of opportunities presented by Web3 technologies and communities. Anichess is a completely free-to-play game that combines the core values of traditional chess with an additional layer of strategy provided by new features that include an innovative spell mechanic and special challenges. Anichess boasts a strong focus on powerful visuals and skill-based gameplay to deliver a captivating, esport-like experience for fans of chess and novices alike. For more information visit .

About Animoca Brands

Animoca Brands (ACN: 122 921 813), a winner, a company, one of the , and one of the Financial Times’ , is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse. The company develops and publishes a broad portfolio of products including original games such as Anichess, The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E. One of Animoca Brands’ flagship projects is , a platform that enables consumers to maximize their Web3 exposure to experiences and rewards with a single login entry point. Animoca Brands It has multiple subsidiaries, including , , , , , , , , , , , , , , , , , , and . Animoca Brands is one of the most active investors in Web3, with a portfolio of over 540 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, OpenSea, Dapper Labs, Yield Guild Games, and many more. For more information visit or follow on , , , , , and .

Vietnam, Laos Strengthen Security Ties with Joint Exercise, New Military Camp

Vietnam, Laos Strengthen Security Ties with Joint Exercise, New Military Camp
Officials from Laos and Vietnam participate in the groundbreaking ceremony for the new camp of the Lao People’s Army's Border Guard Company 214, held on 23 October in Houaphanh Province.

Vietnam and Laos have reinforced their defense cooperation with a joint exercise focused on cross-border drug crimes and the construction of a new military camp in Laos, as part of the second Vietnam-Laos border defense friendship exchange, held from 22 to 23 October in Laos.