Showcasing Digital Twin Solutions for Smart Data Centre Management
TOKYO, JAPAN – Media OutReach Newswire – 30 September 2024 – Azbil Corporation (Tokyo Stock Exchange Code: 6845) announced its participation as a Silver sponsor and exhibitor at Data Centre World Asia (DCWA) 2024. Part of Tech Week Singapore, Asia’s largest technology event, the 10th anniversary edition is expected to draw over 25,000 attendees at Marina Bay Sands, Singapore on October 9 and 10, 2024. This year, DCWA has doubled in size, showcasing cutting-edge technologies and solutions from the world’s leading tech and data center suppliers and solution providers, including Azbil.
As a leading company in the automation industry, Azbil aims to strengthen its relationships with key players in the Southeast Asian data centre industry at this influential technology event. Azbil seeks to expand its network, explore further collaborations and increase its market presence across the region.
Azbil will demonstrate its latest Building Automation solutions, with a particular focus on its chiller plant digital twin and intelligent building management system. These innovative technologies enable data center professionals to improve operational performance, ensure reliability, and enhance sustainability by optimizing energy use across data center infrastructures.
■ Event overview
Event
Data Centre World Asia 2024
Dates
Wednesday, October 9 and Thursday, October 10, 2024
Location
Marina Bay Sands, Singapore, Sands Expo and Convention Centre, Basement 2
A virtual replica of the chiller plant in a cyber world to simulate optimization strategies and perform anomaly detection, providing actionable insights for improving chiller plant operations utilizing AI
Intelligent Building Management System
A unified open platform that displays real-time information about data center equipment in 3D, helping facility managers quickly grasp equipment location, operating status, and alarms to optimize data center performance
Based on the azbil Group philosophy of “human-centered automation,” Azbil is contributing “in series” to the achievement of a sustainable society and continues to build long-term partnerships with customers. Hashtag: #Azbil
The issuer is solely responsible for the content of this announcement.
About Azbil Corporation
Azbil Corporation, formerly known as Yamatake Corporation, is a leading company in building and industrial automation, using its measurement and control technologies to provide customers with high value-added solutions to make their operations more efficient and sustainable. Founded in 1906, Azbil serves customers across the globe in a broad range of industries and aims to contribute to people’s safety, comfort and fulfilment, and global environmental preservation. At the end of March 2024, Azbil employed about 10,000 people worldwide and generated ¥290.9 billion in revenue.
With capacities of up to 4TB, 73% better power efficiency and random read and write speeds of 1,050K IOPS and 1,400K IOPS respectively, the 990 EVO Plus offers the best-in-class SSD experience to consumers, workers and gamers alike
SINGAPORE – Media OutReach Newswire – 30 September 2024 – Samsung Electronics Singapore today announced the release of the 990 EVO Plus SSD, which comes with PCIe 4.0 support and the latest NAND technology to offer higher performance, capacities and power efficiency. Optimised for business and creative endeavours as well as gaming, the 990 EVO Plus is an ideal solution for consumers who are seeking faster data processing speeds and expanded storage capacities on their PCs.
“As consumers create higher quality images, video content and engage in next-generation gaming, this creates a corresponding demand for high-performance, high-capacity storage options to facilitate quick transfers for valuable data. As the world leader in advanced memory technology, Samsung is introducing the 990 EVO Plus to users who want enhanced performance and efficiency on their laptops and desktop PCs. With faster data read and write speeds, expanded storage capacities and improved power efficiency, the 990 EVO Plus offers the best-in-class SSD experience to consumers, workers and gamers alike,” Jacus Long, Head of Display Business, Samsung Electronics Singapore.
Enhanced Performance, Power Efficiency and Storage Capacity The 990 EVO Plus is built on decades of Samsung’s pioneering semiconductor technology with proven reliability. Featuring Samsung’s latest 8th generation V-NAND technology and a 5-nanometer (nm) controller, the 990 EVO Plus offers sequential read speeds of up to 7,250 megabytes-per-second (MB/s) and write speeds of up to 6,300MB/s3,4, enhancing its performance by up to 50% compared to its predecessor, the 990 EVO. The 990 EVO Plus also incorporates an innovative nickel-coated heat shield that minimises overheating, which enhances its power efficiency by 73% compared to its predecessor.
To meet the growing storage requirements of consumers, the 990 EVO Plus offers a 4TB model that exceeds the limits of the 990 EVO, to offer even higher storage capacity to users. The 990 EVO Plus is also equipped with Samsung’s intelligent TurboWrite 2.0, revamped for maximised performance, to facilitate rapid file transfer speeds and reduce lag.
The 990 EVO Plus’ 4TB model has an industry-leading random read speed of 1,050K input/output and 1,400K IOPS3,4 for random write, putting its performance almost on par with SSD products with DRAM, without using DRAM cache. This feature makes it an optimal solution for gaming and artificial intelligence (AI) tasks that require high performance.
Samsung Magician Software Support To enhance the functionality of all Samsung SSDs, including the 990 EVO Plus, users can make use of the optimisation tools available with the Samsung Magician software. The software can help users to streamline the data migration process for SSD upgrades effortlessly and securely, while valuable data, monitoring SSD health and offering customised performance optimisation.
Availability and Pricing The 990 EVO Plus will be available in Singapore from the end of October via the Samsung Online Store, the Samsung Official Store on Lazada and Shopee as well as at selected consumer electronics stores. The recommended retail price for the 1TB 990 Evo Plus is S$159, while the 2TB model retails for S$268 and the 4TB model retails at S$479.
For more information — including warranty details — please visit samsung.com/sg/memory-storage/all-memory-storage/?ssd. For a user guide on how to install the 990 EVO Plus onto your laptop or computer, visit https://semiconductor.samsung.com/consumer-storage/ssdupgrade/.
Samsung SSD 990 EVO Plus Specifications
Category
Samsung SSD 990 EVO Plus
Interface
PCIe® Gen 4.0 x4 / 5.0 x2 NVMe™ 2.01
Form Factor
M.2 (2280)
Storage Memory
Samsung V-NAND 3-bit TLC
Controller
Samsung In-house Controller
Capacity2
1TB
2TB
4TB
Sequential Read/Write Speed 3,4
Up to 7,150 MB/s, 6,300 MB/s
Up to 7,250 MB/s, 6,300 MB/s
Up to 7,250 MB/s, 6,300 MB/s
ㄴRandom Read/Write Speed (QD32) 3,4
Up to 850K IOPS, 1,350K IOPS
Up to 1,000K IOPS, 1,350K IOPS
Up to 1,050K IOPS, 1,400K IOPS
Management Software
Samsung Magician Software
Data Encryption
AES 256-bit Full Disk Encryption, TCG/Opal V2.0,
Encrypted Drive (IEEE1667)
Total Bytes Written
600TB
1,200TB
2,400TB
Warranty 5
5-year Limited Warranty 6
1 The NVM Express® design mark is a registered trademark of NVM Express, Inc. 2 1GB = 1,000,000,000 bytes by IDEMA. A certain portion of capacity may be used for system file and maintenance use, so the actual capacity may differ from what is indicated on the product label. 3 Sequential and random performance measurements are based on IOmeter1.1.0. Performance may vary based on an SSD’s firmware version, system hardware & configuration. 4 Test system configuration: AMD Ryzen9 7950x 16-Core Processor CPU@4.5GHz, DDR5 4800MHz 16GBx2), OS-Windows 11 Pro 64bit, Chipset – ASRock X670E Taichi 5 Samsung Electronics shall not be liable for any loss, including but not limited to loss of data or other information contained on Samsung Electronics’ products or loss of profit or revenue which may be incurred by the user. For more information on the warranty, please visit samsung.com/SSD or semiconductor.samsung.com/internal-ssd/ 6 Five years or total bytes written (TBW), whichever comes first. For more information on the warranty, please refer to the enclosed warranty document in the package.
Hashtag: #SamsungSingapore
The issuer is solely responsible for the content of this announcement.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom at news.samsung.com.
VinFast, Vietnam’s first global EV manufacturer, aims to revolutionize transportation and lead the shift toward sustainable, clean energy solutions.
HANOI, VIETNAM – Media OutReach Newswire – 30 September 2024 – VinFast was never intended to be just another car company. Born from Vingroup’s broader vision of driving innovation and societal change, the company believes a sustainable future is only possible when everyone can enjoy access to smart, safe, and environmentally friendly EVs.
VinFast EV manufacturing complex in Hai Phong, Vietnam.
“Many people asked why Vingroup created VinFast. It actually started with our desire to contribute to society, not purely a business matter,” Pham Nhat Vuong, Chairman of Vingroup, once affirmed.
VinFast’s commitment to a sustainable future is no mere slogan. In 2022, it signed The Climate Pledge to achieve net-zero carbon emissions by 2040 and the COP26 Zero-Emission Vehicle (ZEV) Declaration, committing to 100% zero-emission vehicle sales in key markets by 2035.
The company’s journey included a transformative step away from internal combustion engines, becoming one of the world’s first automotive manufacturers to commit fully to electric vehicles. This decision positioned the company at the forefront of the global shift toward clean energy, responding to the increasing global demand for sustainable solutions. Furthermore, its integrated approach to sustainability is not just about producing EVs but embedding environmental responsibility into every aspect of its business.
VinFast’s electric mobility ecosystem, encompassing cars, buses, scooters, and charging infrastructure, is a model for green transportation. VinFast’s efforts extend beyond vehicles, emphasizing a circular economy by collaborating with leading research institutes to develop zero-carbon solutions and using responsibly sourced, recyclable batteries. A massive project initiated in 2022 and still ongoing saw them establish fast-charging stations across Vietnam, making EV adoption more accessible and encouraging consumers to switch from traditional vehicles to electric ones.
The EV maker has also introduced a battery subscription model that replaces old batteries at 70% capacity, reusing them for energy storage. This model significantly reduces emissions, optimizes resource use, and reinforces the company’s environmental commitment.
VinFast’s sustainability initiatives are also closely tied to its innovation in design and production processes. By integrating energy-efficient robots and sustainable materials, VinFast is minimizing waste and optimizing energy efficiency in manufacturing, setting new standards for eco-friendly production. In supply chain management, their principles of localization, near-shoring, diversification, and modernization have allowed them to reach a localization rate of up to 60%, and to be able to produce 47% of materials in-house.
Recognition of these efforts has been swift: in 2022, VinFast received a Corporate ESG Assessment score of 23.3 from Morningstar Sustainalytics, one of the highest among EV companies. Additionally, it won the “Corporate Sustainability Champions” category at the 2022 ORIGIN Innovation Awards, underscoring its leadership in sustainable business practices.
In just a few short years since its inception in 2017, VinFast has shown that it is fully capable of holding its own in the global playfield. After gaining a foothold in international markets like North America, Europe, and Southeast Asia, the EV maker is strategically entering the Middle East market. This move aligns seamlessly with the company’s vision, as the region is actively seeking to diversify its energy sources and reduce its carbon footprint. But no matter where it operates, one thing is clear: VinFast’s unwavering focus on sustainability ensures that it is paving the way for a cleaner, greener future.
Empowering Women to Market Mekong Tourism Experiences in a Digital Age collage (photo supplied)
The Mekong Tourism Coordinating Office (MTCO), the ASEAN-Japan Centre (AJC), and Laos’s Ministry of Information, Culture, and Tourism jointly organized a four-day digital skills training workshop, on 24-27 September in Luang Prabang Province.
HONG KONG SAR – Media OutReach Newswire – 30 September 2024 – On September 27, 2024, China Wantian Holdings Limited (1854.HK) (“Wantian”) announced that it has signed a strategic cooperation agreement with Hin Sang Group (6893.HK) (“Hin Sang”). The partnership aims to jointly venture into the rapidly growing functional food and health market, leveraging resource integration and technological innovation to provide high-quality health products and services to consumers worldwide, while jointly exploring new market opportunities.
Signing ceremony between listed companies for a collaborative entry into the Functional Food and Health Industry
Strong Alliance to Create a New Landscape in Health
With the rising global awareness of health, the health industry is experiencing unprecedented development opportunities. According to market forecasts from the China Consumers Association’s “Health Industry Consumption Trend Development Report”, by 2025, the market size of China’s health industry is expected to reach 17.4 trillion RMB, and it is projected to climb to 29.1 trillion RMB by 2030. The functional food industry, as a vital component of the health market, is attracting increasing capital and policy support.
As a listed company on the main board of the Hong Kong Stock Exchange, Wantian’s collaboration with Hin Sang will further strengthen its presence in the health sector, paving the way for its vision to become a global leader in the full industry chain of green food services.
Focusing on Three Strategic Cooperation Areas
The cooperation will focus on three major strategic areas to expand and innovate within the functional food market:
Jointly Establishing Health Soup Chain Stores: Both parties plan to open 100 “Wantian Pengzu Hin Sang Centers” within three years, focusing on premium health soups to provide consumers with a natural and healthy wellness experience, meeting the market demand for high-quality health products.
Co-developing Premium Health Gift Series: Both parties will launch the “Wantian Gift x Hin Sang” premium health gift series, combining Hin Sang’s herbal health products with Wantian’s green ingredient resources to create high-end health gifts that cater to modern consumers’ pursuit of quality living and health products.
Establishing the Functional Food and Herbal Life Science Research Institute: Both parties will jointly establish the “Wantian x Hin Sang Functional Food and Herbal Life Science Research Institute,” focusing on the cultivation, research, and application of functional food and herbal medicine. The institute aims to transform scientific research achievements into commercial products, driving the innovative development of the functional food and herbal medicine industry.
Synergies to Create Long-Term Value
This strategic partnership represents more than just a merging of resources and technology; it brings forth substantial synergies. Wantian’s extensive experience in the green food supply chain will open up broader sales channels for Hin Sang’s products, while Hin Sang’s strong brand influence in the health sector will support Wantian’s swift entry into the functional food market. Together, their collaboration is poised to drive product innovation, optimize operational efficiency, and accelerate market expansion, leading to strong long-term returns.
As China’s “Healthy China 2030” blueprint, the health industry holds tremendous growth potential. This partnership between Wantian and Hin Sang is perfectly aligned with market trends and leverages policy incentives, setting the stage for a prosperous future in the health sector. Both companies foresee significant business outcomes from this collaboration, positioning it as a model for industry partnerships.
Wantian’s foray into the health industry underscores its keen market insights and strategic foresight. This initiative not only supports its efforts to diversify its business but also establishes a robust foundation for sustained growth. As Wantian continues to expand and innovate, it is well-positioned to become a leading player in the health market, generating lasting value and returns.Hashtag: #ChinaWantian
The issuer is solely responsible for the content of this announcement.
About China Wantian Holdings Limited
China Wantian Holdings Limited (1854.HK) is a listed company on the main board of the Hong Kong Stock Exchange. The company focuses on the supply of green ingredients, eco-friendly dining, and environmental technologies, striving to enhance the entire food industry’s value chain. Committed to becoming a global leader in the full industry chain of green food services, Wantian upholds a strong dedication to quality and innovation, delivering healthier and more enriching dining experiences from farm to table for households around the world.
About Hin Sang Group
Hin Sang Group (6893.HK) operates under the philosophy of “selecting the natural, nourishing with herbs,” focusing on the development of herbal health products. The company provides innovative and high-quality health solutions for families worldwide. Its products have received numerous industry accolades, and signature offerings like ” Hin Sang Exquisite Packing Milk Supplement” and ” Hin Sang Health Star” have achieved great market success, positioning the group as a leader in the health product industry.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 30 September 2024 – The market has reacted live as Vice-President Kamala Harris and former President Donald Trump clashed in their first—and possibly last—debate before the November election. With financial markets already reacting to the debate’s fallout, the candidates’ performance and policies could reshape trading strategies. Below is an outline of what it means for traders’ long-term investment portfolios and short-term trading decisions. Global broker Octa explains the reasons for lower US dollar after the U.S. presidential debate.
Vice-President Kamala Harris, a Democratic candidate, and former President Donald Trump, a Republican nominee, met in an ABC-hosted debate in Philadelphia on Tuesday. The presidential race is too close to call, and the outcome could still swing either way, so it is important to analyse the results of the debate and draw some conclusions from it. Moreover, early voting will start in some states just days after the debate and may impact the election result. It was the first debate between Trump and Harris and could be their last one before the November 5 election, but this analysis focuses on the possible implications for the financial markets and traders.
Harris Trade
Several political analysts and media suggested that Harris outperformed Trump. After the debate, the Reuters/Ipsos poll, which took place between 10 and 12 September, found Harris 5 points ahead of Trump (47% vs. 42%). In percentage terms, her chances of winning improved to 55%, while that of Trump decreased to 47%. The market initially reacted by selling the greenback and stocks, with the U.S. Dollar Index (DXY) dropping below 101.40 and S&P 500 shedding more than 1.5% at one point in time. ‘The market’s reaction to the debate has revealed everything a trader needs to know about the upcoming election. The financial market is already voting with their money. It is evident everywhere, from the exchange rate of the Chinese yuan to the share price of U.S. solar companies,’ said Kar Yong Ang, a financial market analyst at Octa Broker.
A few months ago, market participants started to practice a concept known as the ‘Trump Trade’. Generally, a ‘Trump trade’ refers to shifts in market behaviour that occur in reaction to the economic policies and political decisions associated with a Donald Trump presidency.
‘As Kamala Harris took the lead, we have seen a very clear reversal of Trump trades. Actually, I believe we have seen the emergence of Harris trade,’ said Kar Yong Ang.
If we analyze key market movements during and after the debate, there are signs that market preferences may be shifting, with traditional ‘Trump trades’ losing momentum. This could be the beginning of what some analysts are referring to as ‘Harris trade.’ So, what exactly is Harris trade?
Buying companies with a focus on renewables. The share prices of U.S. solar companies rose on Wednesday. According to Reuters, the Invesco Solar ETF, which is down about 25% for the year, jumped 5% on Wednesday. In addition, iShares Global Clean Energy ETF ICLN performed well on Wednesday. Shares of First Solar Inc. (FSLR) rose more than 15%. At the same time, financials and energy stocks, which are seen to benefit from Trump policies, underperformed.
Selling USDCNH forex pair. USDCNH, which is the U.S. dollar vs Chinese yuan offshore FX spot rate, dropped below 7.11 at one point on Wednesday. If Trump’s chances of winning the election go down, it is less likely that China will face higher tariffs on its goods. With Harris leading in the polls, the uncertainties in global trade may subside, and markets that depend on international trade may perform well. At the same time, some market participants view a possible Trump victory as being bullish for the greenback because higher fiscal spending could spur inflation and lead to higher short-term interest rates.
Selling bitcoin and crypto stocks. Crypto markets appear to react more favorably to Trump compared to Harris, likely because Trump’s stance on cryptocurrencies has been more clearly communicated, while Harris has not outlined her position on this matter as explicitly. Therefore, whenever Harris is seen as the likely winner in the 2024 election, bitcoin reacts negatively. However, Octa broker says that there is an important caveat to this trade. ‘Quite frankly, there is no strong reason to believe that the Trump presidency will somehow be more bullish for bitcoin and crypto than Harris’ presidency. The reason that bitcoin goes up when Trump’s chances of winning are improving is simply because he has been a bit more specific on his views on crypto, while Harris’ plans are not so clear at all,’ said Kar Yong Ang.
Overall, the stock market remains nervous. The CBOE Volatility Index, also known as the ‘Fear index’, which measures demand for insurance against sharp swings in stock valuations, was trading at around the 20 mark just before the debate started. This was higher than the 2024 average of 14.8. Kar Yong Ang explains: ‘Of course, the market is concerned about who becomes the next president of the world’s largest economy, but frankly, U.S. elections are just one of many other issues that keep traders on edge. Firstly, the makeup of the Senate and the House is also important as they will also shape future economic policies. Secondly, and perhaps most importantly, investors are worried about a potential U.S. recession and the Fed’s (Federal Reserve, the U.S. central bank) monetary policy going forward.’
Indeed, the Fed’s commitment to cutting interest rates has already driven the value of the U.S. Dollar Index (DXY) to multi-month lows, and its plan to pursue a less tight monetary policy has been a major factor in driving the gold price to an all-time high. Indeed, macroeconomic news—notably, inflation data releases and labour market reports—have produced much stronger market reactions than news related to the U.S. presidential campaign. Furthermore, while debates and other political events may influence some voters, current polls suggest that many have already made their decision.. Undecided voters make up only a tiny share. Therefore, while election news will continue to generate above-normal market volatility in the run-up to the November 5 election, the key events to watch will be the classical data releases and central banks’ statements Hashtag: #Octa
The issuer is solely responsible for the content of this announcement.
Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.
Award-winning GNSS tolling system covers 16,000 km of roads
System was awarded for design, implementation and positive impact
VIENNA, AUSTRIA – EQS Newswire – 30 September 2024 – Kapsch TrafficCom is proud to announce that the Bulgarian “Nationwide Tolling & E-Vignette System” was awarded the prestigious Road Finance Excellence Award by the International Road Federation (IRF).
This recognition underscores the innovative design, exceptional implementation, and the positive impact of the GNSS (Global Navigation Satellite System)-based tolling system on the country’s transportation infrastructure. The award ceremony took place on September 26, 2024, during the IRF Europe & Central Asia Congress Gala Dinner in Plovdiv, Bulgaria.
Georg Kapsch, CEO of Kapsch TrafficCom, explains: “The award highlights the capabilities of our GNSS technology to cover thousands of kilometers of road. We are bringing together our extensive global experience with the local market expertise of our partners. This allows us to deploy our solution in a way that fits local needs while delivering a flexible, scalable, future-proof and sustainable system for financing infrastructure while at the same time reducing CO₂ emissions by optimizing traffic flow.”
The Bulgarian Nationwide Tolling System Launched in 2019 in partnership with Bulgaria’s Road Infrastructure Agency (RIA), this project transitioned the country’s tolling system from time-based vignettes to a distance-based model for heavy goods vehicles (HGV) using cutting-edge satellite tolling technology. The system covers over 16,000 kilometers of roads, managing electronic tolls for trucks and e-vignettes for passenger vehicles. By 2020, GNSS tolling for all HGVs was introduced, generating a 10% revenue increase from e-vignettes and additional gains from enhanced enforcement measures.
Kapsch worked closely with the RIA and consulting teams, coordinating seven specialized working groups for road infrastructure, data centers, tolling, enforcement, and payment systems. Over 500 authority staff were trained, and the project’s scope includes 24/7 technical support and maintenance. The system also integrates various sales channels, including web platforms, mobile apps, and self-service terminals. The International Road Federation (IRF) is a global, not-for-profit organization dedicated to promoting safe, sustainable, and efficient road networks worldwide. The recognition by the IRF marks another milestone in the successful deployment of tolling systems by Kapsch TrafficCom around the globe.
The issuer is solely responsible for the content of this announcement.
On 27 September, Lao Bullion Bank hosted its much-anticipated Soft Opening Ceremony at its headquarters in Phonsay village, Xaysettha district, Vientiane Capital. The event marked a significant step forward in Laos’ financial landscape, highlighting the government’s strategic efforts to enhance the country’s economic stability.
The ceremony was attended by Santiphab Phomvihane, Minister of Finance, Atsaphangthong Siphandone, Mayor of Vientiane Capital, Vatthana Dalaloy, Acting Governor of the Bank of Laos, Thongphat Inthavong, Deputy Minister of Energy and Mines, and Chanthone Sitthixay, Chairman and Founder of PTL Holding Co., Ltd. Their participation reflects the broad support for this new financial institution.
The opening of Lao Bullion Bank marks a milestone in the nation’s broader goal of safeguarding economic resilience and securing the country’s gold reserves. As the first institution of its kind in Laos, Lao Bullion Bank is expected to play a critical role in stabilizing the value of the Lao kip, while enhancing the government’s ability to manage its reserves.
Vatthana Dalaloy, Acting Governor of the Bank of Laos, underscored the importance of this launch, stating that Lao Bullion Bank is a central player in the nation’s economic development and financial stability. She highlighted the institution’s alignment with the strategic goals of both the government and the party.
Chanthone Sitthixay, Chairman and Founder of PTL Holding Co., Ltd., expressed his confidence in the bank’s upcoming operations, set to begin by the end of September 2024. He emphasized the collaborative efforts with the Ministry of Finance and the Bank of Laos, ensuring that the institution is fully prepared to deliver on its promises to the public.
The soft opening also introduced the bank’s first key services, which include Gold Savings Accounts and Gold Vending Machines. The Gold Savings Accounts, offered to customers starting from the launch date, allow for a secure and efficient way to manage personal investments in gold. However, due to the bank’s early-stage operations, the number of accounts is limited to 50 per day, ensuring careful management during this initial phase.
With the opening of Lao Bullion Bank, Laos takes a significant step toward enhancing its financial system, ensuring the stability of the national currency, and fostering long-term economic growth.