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Bokeo Authorities Seize Over 1,000 Kg of Methamphetamine

Bokeo Authorities Seize 1,436 Kg of Methamphetamine
Officers pose with the seized drugs (photo: Lao Security News)

Bokeo authorities confiscated 48 packages of methamphetamine weighing 1,436 kilograms on Tuesday, but the drug traffickers managed to flee the scene.

UN Expert: Myanmar Military Imported USD 1 Billion in Weapons Since 2021 Coup

Un Expert: Myanmar Military Imported $1 Billion in Weapons Since 2021 Coup
The military seized power from the elected government in February 2021. ( Photo : AP )

UNITED NATIONS (AP) — Myanmar’s military has imported at least USD 1 billion worth of weapons and related material from Russia, China, and other countries since its February 2021 coup, some of which it has been used to carry out atrocities against civilians, according to a U.N. report released Wednesday.

Laos, Vietnam, Thailand Join Hands to Boost Tech Innovation and Creativity

Laos, Vietnam, Thailand to Boost Innovation, Creativity
Representatives from Makerbox Lao, KKU and USTH. (Photo: USTH)

Makerbox Lao, University of Science and Technology Hanoi (USTH), and Khon Kaen University (KKU) Thailand came together to discuss a possible collaboration in promoting innovation and creativity through technological competitions.

Lao Athletes Come Home After Winning 88 Medals at SEA Games in Cambodia

Lao athletes return home after competing in SEA Games, Cambodia.

Lao athletes have returned home after representing their country and competing in various sporting events at the 32nd Southeast Asian (SEA) Games in Phnom Phenh, Cambodia.

Prince Foundation Congratulates Cambodia Men’s National Volleyball Team on Their Success at the 32nd SEA Games

PHNOM PENH, CAMBODIA – Media OutReach – 19 May 2023 – Prince Foundation held a congratulatory ceremony at the Volleyball Federation of Cambodia (VFC), in honor of the Cambodia Men’s National Volleyball team who won the SEA Games silver medal. Tokens of appreciation were gifted to the SEA Games silver medalist, alongside their coaches. The event was also graced by distinguished VFC representatives.

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Prince Foundation, spearheaded by Cambodian philanthropist and Prince Holding Group Chairman Chen Zhi, has continually supported the Cambodia Men’s National Volleyball team over the last five years. This includes the sponsorship of an experienced coach and the facilitation of international friendly matches.

Mr. Gabriel Tan, the head of Prince Foundation, expressed his admiration for the team’s hard work and dedication, which ultimately led to their recent triumph at the 32nd SEA Games. He further highlighted the Foundation’s unwavering commitment to promoting sports development in Cambodia, emphasizing the profound impact on the community.

“Securing the silver medal in the final game against the formidable team from Indonesia is a remarkable achievement that testifies to the team’s unwavering dedication and tenacity,” said Mr. Tan. “The hard work, resolve, and passion for the game will undeniably steer the team towards even grander victories in the future, including the much-anticipated gold medal in the coming years.”

Prince Foundation encourages participation in sports at all levels, fostering robust communities while promoting individual health and well-being. The Foundation remains committed to endorsing sports development as a catalyst for positive change in Cambodia and will continue to enrich the country’s sporting landscape through its corporate social responsibility (CSR) initiatives.

Hashtag: #PrinceFoundation #32ndSEAGames

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

About Prince Foundation

Prince Foundation, founded in 2015, is one of Cambodia’s leading philanthropic foundations. A member of Prince Holding Group, which is one of the largest business groups in Cambodia, the Foundation aims to work with local communities to build thriving living and working environments that elevate people’s well-being and livelihoods following the vision: “Together, Building a Better Future for Cambodia”.
Focusing on education and youth development, healthcare, community engagement and sports initiatives, Prince Foundation works with partners to deliver sustainable programs that enhance opportunities for Cambodia’s youths, build resilience in communities and contributes to sustainable infrastructure.
The Foundation’s flagship projects are the Chen Zhi Scholarship, offering full scholarships, stipends, internship and work opportunities to 400 Cambodian university students over a period of seven years, and Prince Horology, where aspiring Cambodian watchmakers learn the art of Swiss-style watchmaking in a state-of-the-art facility. Prince Foundation has launched more than 260 philanthropic initiatives, benefiting over 1 million people, with donations exceeding US$16 million.

BingX Partners with OrdStarter to Boost Credibility and Unlocking Opportunities for BRC20 Projects

SINGAPORE – Media OutReach – 18 May 2023 – BingX, a prominent cryptocurrency exchange (CEX), has joined forces with OrdStarter to establish a strategic partnership that will drive credibility and unlock new opportunities for BRC20 projects.

BingX, a prominent crypto exchange, has announced its planned partnership with OrdStarter, a comprehensive launchpad and incubator platform for BRC20 projects.

This collaboration will see BingX leverage its industry expertise and expansive network to support OrdStarter in listing upcoming coins and exploring potential staking capabilities. Before the partnership, BingX had since listed BRC20 tokens such as ORDI/USDT, VMPX/USDT & NALS/USDT. By joining forces with BingX, OrdStarter aims to enhance its reputation as a trusted platform for BRC20 projects and attract a wider range of innovative ventures.

OrdStarter’s feature-rich platform offers an array of essential tools and functionalities. These include One-Click BRC-20 Token Issuance, ensuring fair distribution, Multi-Layered Contract Security for prioritizing user fund safety, and an Innovative Insurance Mechanism that safeguards investor interests while deterring malicious behavior. Additionallly, OrdStarter provides comprehensive support for BRC20 ecosystem projects, encompassing marketing, community management, technical assistance, and liquidity provision. With seamless integration with the Ordinals protocol, OrdStarter enables cutting-edge on-chain capabilities, while its Full BTC node operation ensures a robust and secure infrastructure. The partnership also bodes well for OrdStarter as it begins its first IDO public sale of $ODSR on 18th May.

The partnership between BingX and OrdStarter will provide BRC20 projects with a valuable avenue for exposure and liquidity through BingX’s established trading platform. By receiving support from BingX, OrdStarter will gain enhanced credibility and recognition within the crypto community, instilling confidence in potential projects seeking to launch on the platform.

BingX’s steadfast commitment to robust security measures and compliance makes it an ideal partner for OrdStarter. By aligning with a reputable centralized exchange (CEX), OrdStarter strengthens its reputation as a safe and trustworthy launchpad for BRC20 tokens.

The collaboration between BingX and OrdStarter signifies an exciting stride towards fostering innovation and driving growth within the BRC20 ecosystem. This partnership not only solidifies OrdStarter’s position as a leading launchpad and incubator, but also unlocks new avenues for BRC20 projects to flourish and succeed.

Together, BingX and OrdStarter are poised to revolutionize the BRC20 landscape, providing an inclusive and secure environment for projects to thrive while enabling investors to partake in the next generation of crypto opportunities.

Hashtag: #BingX

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

About BingX

Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Additionally, BingX has launched BingX QA , an engine for token trading analysis and investment guidance.

HKSTP Partners with JYCGIF: New Memorandum of Understanding Aims to Draw Female Secondary Students to I&T

Partnership Focused on Developing Female Talent Pipeline for Hong Kong’s I&T Ecosystems

  • Summer “Ideathon” between HKSTP and JYCGIF targets female secondary school students.
  • Participants will compete in groups to propose innovative I&T end-to-end solutions, under the guidance of leading female entrepreneurs.
  • A MoU was also signed between the two organisations that aims to organise other such I&T related activities in the future to help draw female secondary school students to the I&T field.

HONG KONG SAR – Media OutReach – 18 May 2023 – Hong Kong Science and Technology Parks Corporation (“HKSTP”) and Jennifer Yu Cheng Girls Impact Foundation (“JYCGIF”) signed a Memorandum of Understanding (“MoU”) that aims to draw female secondary school students to the field of Innovation and Technology (“I&T”), promote gender diversity in the industry and empower women as influential figures promoting Hong Kong as an international I&T hub.

Witnessed by Dr Sunny Chai, Chairman of HKSTP (back row, left) and Mrs Jennifer Yu Cheng, Founder of JYCGIF (back row, right), Mr Albert Wong, CEO of HKSTP (front row, left) and Ms Cecilia Hon, Executive Director of JYCGIF (front row, right) signed the MoU to strengthen talent development and attract more female students to join Hong Kong's thriving I&T ecosystem.

Witnessed by Dr Sunny Chai, Chairman of HKSTP (back row, left) and Mrs Jennifer Yu Cheng, Founder of JYCGIF (back row, right), Mr Albert Wong, CEO of HKSTP (front row, left) and Ms Cecilia Hon, Executive Director of JYCGIF (front row, right) signed the MoU to strengthen talent development and attract more female students to join Hong Kong’s thriving I&T ecosystem.

The partnership will involve organising and conducting various I&T-related activities to allow female secondary school students to experience first-hand the opportunities made available by Hong Kong’s I&T ecosystem. The hope is such exposure spurs more young women opting for I&T-related tertiary courses and a career in these industries.

One of the collaboration highlights is the “Ideathon”, a programme scheduled to launch in the summer through November 2023. Under the guidance of leading entrepreneurs, female secondary school participants will compete in groups to propose innovative end-to-end solutions involving planning, prototype production and marketing to address specific challenges in society. The programme aims to nurture greater understanding and interest in I&T, new industrialisation, and grow entrepreneurship among female students.

Dr Sunny Chai, Chairman of HKSTP, said, “We have entered a golden era of innovation and technology in Hong Kong, providing a platform for young people to realise their full potential. Within HKSTP’s thriving I&T ecosystem, many of the founders or senior management of Park companies are women, demonstrating exemplary contributions made by women in the industry. I sincerely hope that this collaboration with JYCGIF will enable more female students to experience what Hong Kong’s I&T sector has to offer to attract them to become advocates for the city’s innovation scene, and thereby contribute to Hong Kong becoming an international I&T hub.”

Mrs Jennifer Yu Cheng, Founder of JYCGIF, said, “Hong Kong is poised to develop into an international I&T hub. Considering the opportunities ahead in the changing landscape of the future world of work, there is an urgency to level the playing field for women across industries and sectors, particularly in I&T fields. Through our new partnership with HKSTP, we hope to help teen girls map out their educational and extracurricular goals leading to future careers, particularly in I&T. By empowering teen girls today, we are working together build a strong pipeline of future women talents motivated to drive the development of Hong Kong as a world-class I&T hub.”

Archireef Co-founder and CEO, Vriko Yu, shared her insights along her journey in innovation and technology during a panel discussion: “Many people have stereotypes about women in the workplace in which they would perceive women to be mostly work in nursing and teaching. However, by sharing my experience, I hope we can see that young women can also become CEOs of I&T companies. Furthermore, I wish for female students to be able to discover and develop their strengths through the innovation experience, as well as to explore the limitless possibilities.”

Among the programmes’ avid participants was Ms Chan Oi Yiu (right) of Hong Kong True Light College. She said that CareerXplorer and other programmes inspired her to contemplate the close link between empathy and design thinking, which is driving her to pursue opportunities in the I&T field.

Hashtag: #JenniferYuChengGirlsImpactFoundation

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

About Hong Kong Science and Technology Parks Corporation

Hong Kong Science and Technology Parks Corporation (HKSTP) has for over 20 years committed to building up Hong Kong as an international innovation and technology hub to propel success for local and global pioneers today and tomorrow. HKSTP has established a thriving I&T ecosystem that is home to two unicorns and Hong Kong’s leading R&D hub with over 13,000 research professionals and over 1,300 technology companies focused on healthtech, AI and robotics, fintech and smart city technologies.

Established in 2001, we attract and nurture talent, accelerate and commercialise innovation and technology for entrepreneurs on their journey of growth in Hong Kong, to the Greater Bay Area, Asia and beyond. Our growing innovation ecosystem is built around our key locations of Hong Kong Science Park in Shatin, InnoCentre in Kowloon Tong and three modern INNOPARKs in Tai Po, Tseung Kwan O and Yuen Long. The three INNOPARKs are realising a vision of new industrialisation for Hong Kong. The goal is sectors like advanced manufacturing, electronics and biotechnology are being reimagined for a new generation of industry.

Through our infrastructure, services, expertise and network of partnerships, HKSTP will help establish innovation and technology as a pillar of growth for Hong Kong, while reinforcing Hong Kong’s international I&T hub status as a launchpad for global growth at the heart of the GBA innovation powerhouse.

More information about HKSTP is available at .

About Jennifer Yu Cheng Girls Impact Foundation

Jennifer Yu Cheng Girls Impact Foundation (“JYCGIF”) is non-profit charitable organisation focused on educating, inspiring, and empowering teenage girls to become “future ready leaders” – proactive, digitally savvy decision makers who leave a major local and global footprint. JYCGIF is on a unique mission to uplift the status of women in society and in the workplace by building the strongest pipeline of teenage girls who are both inspired and equipped with the future ready resources, skills and mindset to become tomorrow’s leaders. For over a year now, JYCGIF has been providing teen girls with a variety of STEM learning and leadership development opportunities that rest on three pillars: “Future-Ready Leadership Development”, “STEM Exposure and Skills” and “Education Access.” JYCGIF’s signature programmes include “10,000 Girls4Girls Coding+” and the first “FutureGen Girls Leadership Summit”. Its most recent “CareerXplorer Programme,” part of the flagship G4G Coding+ initiative, helps students map out their educational and extracurricular goals in pursuit of careers in a future world of work.

More information about JYCGIF is available at .

Johnson Electric reports results for the year ended 31 March 2023

Highlights of FY2022/23 Results

  • For the financial year ended 31 March 2023, total sales were US$3,646 million – an increase of 6% compared to the prior year. Excluding the effects of foreign currency movements and acquisitions, underlying sales increased by 11%
  • Gross profit totalled US$716 million – an increase of 2%
  • EBITA, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, decreased by 10% to US$220 million or 6.0% of sales (compared to 7.1% of sales in FY21/22)
  • Net profit attributable to shareholders totalled US$158 million – an increase of 8% compared to the prior year
  • Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, totalled US$148 million – a decrease of 10%
  • Free cash flow from operations totalled US$215 million (compared to a cash outflow of US$132 million in the prior year)
  • A recommended final dividend of 34 HK cents per share (US 4.36 cents), which combined with the interim dividend paid, will amount to a 50% increase compared to total dividends declared for the prior year
  • As of 31 March 2023, cash reserves were US$409 million and the ratio of total debt to capital at year end was 16%

HONG KONG SAR – Media OutReach – 18 May 2023 – Johnson Electric Holdings Limited (“Johnson Electric”), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2023.

Group sales for the 2022/23 financial year totalled US$3,646 million – an increase of 6% compared to the prior year. Excluding the effects of foreign currency movements and acquisitions, underlying sales increased by 11%. Net profit attributable to shareholders totalled US$158 million or 17.33 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, was US$148 million, a decrease of 10% compared to the prior year.

Sales Performance

The Automotive Products Group (“APG”), Johnson Electric’s largest operating division, achieved sales of US$2,914 million. Excluding currency effects and an acquisition in the prior year, APG’s sales increased by 16%. This compares favourably to the estimated 9% increase in global light vehicle industry production volumes over the same period. APG’s sustained above-market growth reflects a product portfolio that is focused on the key long-term technology trends transforming the industry. This includes innovative technologies that enable electrification, reduce emissions, enhance safety and comfort, and heat, cool or lubricate critical vehicle systems.

The strength of APG’s sales extended across every major geographic region. In the Americas, sales increased by 19% on a constant currency basis compared to light vehicle production volume growth of approximately 13%. In Europe, constant-currency sales grew by 17% compared to an 10% rise in the region’s vehicle production. And in Asia, our constant-currency sales increased by 13% compared to a 8% increase in vehicle production.

Throughout FY22/23, the automotive components sector as a whole continued to wrestle with supply chain constraints, particularly shortages of semiconductors, as well as the disruptive effects of pandemic-related lockdowns in China and Russia’s invasion of Ukraine. As a consequence, in most markets, OEMs and their dealerships have been unable to meet pent-up consumer demand for new cars for over two years and total industry output remains well below pre-pandemic levels. However, as supply chain problems have gradually eased, the ability to respond to this previously unmet demand has underpinned a large part of the industry’s recent growth trajectory.

The second key factor driving the market has been the acceleration of the shift to New Energy Vehicles. Nowhere has this been more evident than in China, where for the month of March 2023 pure battery electric cars and plug-in hybrids accounted for 34% of new passenger car sales. In Europe, demand for NEVs varies by country and remains sensitive to the impact of government subsidies. Nonetheless, plug-in vehicles already amount to around one in six new car registrations. North America has been a laggard in the take-up of NEVs up until now, partly due to concerns over driving range and charging availability. This appears set to change as U.S. OEMs have brought forward the planned large-scale electrification of their vehicle fleets and the federal government has granted a number of tax credits and other incentives to support EV purchases and investments in battery manufacturing and charging infrastructure. While the auto industry’s transition away from the internal combustion engine represents a watershed event for the majority of OEMs and component suppliers, the investments that Johnson Electric has made in new products specifically-designed to support this transition places APG in a particularly strong position to continue to gain share in the years ahead.

The Industry Products Group (“IPG”) achieved sales of US$732 million, which represented 20% of total Group sales. Excluding the effects of currency movements and an acquisition, IPG’s sales decreased by 7%.

The sales weakness that IPG experienced over the financial year reflected the combination of two main factors. First, the Covid-19 pandemic had led to an historically unprecedented surge in demand for many of the “home-centric” consumer product applications that IPG serves. However, once pandemic restrictions began to lift – especially in North America and Europe – consumer expenditure reverted back to their pre-pandemic pattern, including proportionally higher spending on services and travel. As a result, IPG’s sales experienced a negative “bullwhip effect” whereby reduced demand from consumers led to retailers, followed by their suppliers, moving to cut-back on orders and sharply reduce inventory levels. The largest impact of these reductions during FY22/23 was felt by IPG’s Asia region, which serves a number of contract manufacturers whose primary end markets are North America and Europe.

The second factor having a negative impact on IPG’s sales has been the heightening concerns among consumers regarding inflation, higher interest rates, and job security – which tends to result in tighter expenditure on discretionary consumer goods and reduced activity in the housing sector.

An important feature of IPG that helps to mitigate the impact of periods of weaker consumer sentiment is the sheer diversity of its end-product applications and breadth of its customer base. Therefore, whilst the division continues to face headwinds in several markets as fears of a global recession increase, it is also experiencing strong demand in a number of attractive strategic growth segments including medical devices, robotic applications, window automation, ventilation, and semiconductor manufacturing equipment.

Gross Margins and Operating Profitability

The Group’s gross profit was US$716 million – an increase of 2% compared to the prior year and, as a percentage of sales, represented a decrease from 20.4% to 19.6%. The erosion of gross margins was primarily due to higher raw material costs, unfavourable foreign exchange rate movements, and a reduction in the profitability of commodity hedging contracts that were only partially offset by sales volume growth, price increases, labour reductions, and other operating cost savings.

Reported earnings before interest, tax and amortization (“EBITA”) was US$232 million (compared to US$222 million in the prior year). EBITA adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, was US$220 million or 6.0% of sales (compared to 7.1% in the prior year).

Net Profit and Financial Condition

Net profit attributable to shareholders increased by 8% to US$158 million or 17.33 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, was US$148 million compared to US$165 million in the prior year.

Cash generation improved sharply with free cash from operations amounting to US$215 million, largely due to lower working capital and capital expenditure. Johnson Electric’s financial condition remains sound with a total debt to capital ratio of 16%.

Dividends

In the prior financial year 2021/22, during a period when cash flow generation was severely constrained, the Board determined that it was prudent for the Company to conserve its cash until the situation improved and accordingly recommended a 50 per cent reduction in the final dividend. Notwithstanding ongoing macro-economic uncertainties, the Board considers that the financial condition of the business has improved sufficiently to enable a return to the level of final dividend payments that prevailed prior to the reduction. It has therefore recommended to increase the final dividend payment to 34 HK cents per share (FY21/22: 17 HK cents per share). Together with the interim dividend of 17 HK cents per share, this represents a total dividend of 51 HK cents per share, equivalent to 6.54 US cents per share.

The final dividend will be payable in cash, with a scrip alternative where a 4% discount on the subscription price will be offered to shareholders who elect to subscribe for shares. Full details of the scrip dividend alternative will be set out in a circular to shareholders.

Corporate Development and Acquisitions

In September 2022, the Group acquired the remaining 20% equity interest it did not already own in Halla Stackpole Corporation, an Asia-focused powder metallurgy business with a strong presence in China and Korea. Since becoming a wholly-owned subsidiary of the Group, the business has been further integrated into the Stackpole Powder Metal business unit to realize additional operating synergies. As the automotive market transitions to electric vehicles, lighter-weight components produced using powder metal technology are expected to play an increasingly important role in delivering greater energy efficiency and improved performance compared to conventional forged or die cast metal counterparts.

In October 2022, the Group also completed the acquisition of an 80% equity stake in Pendix GmbH, an established, technology-driven player in the fast-growing electric bike (“e-bike”) sector. Based in Zwickau, Germany, Pendix designs and manufactures complete electric cargo bikes and electric drives for bicycles. By combining Pendix’s technology and application expertise with Johnson Electric’s industrial scale and resources, the acquisition provides an exciting platform from which to build a strong and differentiated presence in the European e-bike market.

Chairman’s Comments on the Annual Results and Outlook

Commenting on the annual results for the financial year 2022/23, Dr. Patrick Wang, Chairman and Chief Executive, said, “The financial year 2022/23 was challenging for Johnson Electric as macro-economic conditions continued to create unpredictable demands on global manufacturing supply chains and to pressure profit margins. Nonetheless, the business achieved solid sales growth in the face of rising consumer concerns regarding inflation and higher interest rates. Significant progress was also achieved in improving free cash flow generation and on focusing the business model on segments where the Group is best positioned to gain from the major structural shifts occurring in the industries we serve.”

Commenting on the outlook for the business, Dr. Patrick Wang, said, “The near-term prospects for the global economy remain fragile. Although the distorting effects of the pandemic on both demand and supply have begun to ease, the steep increase in inflation and interest rates threatens to push some developed economies into recession. In this context, with quite limited visibility on whether a recession will be avoided, management is budgeting for sales growth in FY23/24 in the range of 5% to 7%.”

“Our motion products and technologies are targeted directly at many of the most fundamental trends shaping modern society and which underpin our medium and long-term growth prospects. These trends include electrification, automation, environmental protection, mobility, health, and lifestyle improvement. In each of these dimensions, we are introducing a succession of innovative solutions that deliver the product application performance improvements that end consumers are demanding. In the automotive sector, for example, our electric water pumps and valve actuators are critical enablers to electric vehicle thermal management systems that enhance driving range, extend battery life, and shorten charging times. Other examples, in industrial and consumer applications, include BLDC motor technologies that enable lawn and garden OEMs to electrify their product ranges and kitchen ventilation system producers to meet the latest stringent regulations for energy efficiency.”

“Innovative technology is only one element in a successful business model. The second key thrust to our strategy is to bring this technology to market through a global manufacturing platform that utilizes scale and standardized production lines to improve cost competitiveness through reduced cycle times, increased up-times, and lower requirements for additional capital expenditure and space. In its recent history, the Group has made considerable investments in re-designing and expanding its operating footprint to meet the requirements of a more automated and digital age, which provides a solid foundation for Johnson Electric to improve profit margins and cash generation.”

Hashtag: #JohnsonElectric

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

About Johnson Electric Group

The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 22 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: .

Forward Looking Statements
This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.

Words such as “outlook”, “expects”, “anticipates”, “intends”, “plans”, “believe”, “estimates”, “projects”, variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric’s present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.