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Siam Piwat Partners with Hyundai Department Store to Forge Global Retail Collaboration Phenomenon, Reaffirming Crowning Achievement in the Limitless Expansion of Global Ecosystem


BANGKOK, THAILAND – Media OutReach Newswire – 21 February 2024 – Reinforcing its success in establishing a borderless global business ecosystem, Siam Piwat Group, Thailand’s leading real estate and retail developer, the owner and operator of Siam Paragon, Siam Center, and Siam Discovery, and a joint venture partner of ICONSIAM, ICS, and Siam Premium Outlets Bangkok, has recently unveiled a significant collaboration. Partnering with Hyundai Department Store, the largest department store chain developer in South Korea, both entities have joined forces by signing a memorandum of understanding (MOU), aiming to elevate and revolutionize the future of retail. This collaboration seeks to perfectly synergize exceptional benefits, offering exclusive experiences and services to members of both parties. With a shared objective of cultivating and promoting new business opportunities on an international scale, the partnership is geared towards the development of world-class destination projects.

Siam Piwat Partners with Hyundai Department Store to Forge Global Retail Collaboration Phenomenon, Reaffirming Crowning Achievement in the Limitless Expansion of Global Ecosystem

Mrs. Mayuree Chaipromprasith, President – Corporate Affairs and Communications, Siam Piwat Co., Ltd., remarked, “This collaboration aligns seamlessly with Siam Piwat’s business principles, which revolves around the ‘Co-create & Collaboration to Win’ strategy. We prioritize fostering a constructive ecosystem continuously by partnering with leading and robust global business entities and consolidating remarkable potential to propel business growth in innovative and boundless ways.”

Mr. Jung Jee Young, President, Hyundai Department Store, expressed, “This is the first time a Korean department store has outsourced the operation of a part of a store in a famous overseas shopping mall. With a shared commitment to excellence, we have partnered with the Siam Piwat Group, renowned for its global destination shopping centers that have long captured the hearts of tourists. Together, we aim to offer superior benefits and elevate the customer experience. This collaboration also presents a significant opportunity to break down market boundaries and showcase the potential of K-Culture, a highly popular trend in Thailand.”

The collaboration with Hyundai Department Store enables the creation of a more complete ecosystem by leveraging the strengths of both businesses towards a shared objective. This partnership enhances the overall experience for a diverse range of customers, offering exceptional benefits to members of ONESIAM and Hyundai Department Store. This collaboration aims to entice shoppers by offering diverse special privileges at shopping centers and stores as well as stores within the alliance network. It seeks to leave a lasting impression, providing customers from both parties with a unique and superior lifestyle experience.

Given the robust potential of both renowned retail enterprises, evidenced by the significant usage of their services and the substantial spending of customers, they have decided to collaborate and enhance the retail business by actively participating in presenting leading brands and exclusive items across shopping centers. Additionally, this collaboration presents an opportunity to support Thai entrepreneurs in showcasing their creative products to international markets, propelling local heroes to global prominence as well as encouraging small and medium-sized Korean brands to have the market opportunity abroad. This partnership will yield boundless success and drive the business towards sustainability.

In addition, both entities are committed to creating opportunities and fostering business growth by delivering a diverse range of new experiences and exclusives at the ‘K-Content Specialty place’, a collection of recently popular K-food, K-pop, K-webtoons, K-fashion, and more., offering a shopping experience and fulfilling the demands of modern consumers, which is to forge a new attractive magnet that caters to both Thai customers and foreign tourists, Emphasizing the importance of the Global Destination project that always won the people’s hearts.

Siam Piwat Group has successfully reinforced its Global Ecosystem by forging partnerships with world-class multinational retail giants. These include PARCO Shopping Complex in Japan, TAIPEI 101 in Taiwan; Republic of China, Hong Kong Times Square, ION Orchard Department Store in Singapore, Pavilion Kuala Lumpur in Malaysia and Plaza Indonesia in Indonesia, which is a diverse business group encompassing shopping centers. These strategic partnerships connect and extend extraordinary benefits to visitors and entice shoppers from retail alliance members across various countries to visit and shop at Siam Piwat Group shopping centers. Moreover, these collaborations contribute to enhancing the shopping and lifestyle experiences for both Chinese and global tourists, facilitated by platforms such as Alipay, Klook, and Trip.com. This not only promotes the tourism sector but also bolsters the Thai economy as a whole.

Hashtag: #SiamPiwat

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

Vietnam, Thailand Ramp Up Efforts to Expand Visa Exemption Policies for Tourism Boost

Foreign tourists visiting Vietnam (Photo: The Star)

As Southeast Asian nations race to boost tourism recovery, countries such as Vietnam and Thailand have intensified efforts to expand their visa exemption policies to attract a greater number of visitors.

HKU Engineering researchers achieve breakthrough in quantum sensing that leads to new opportunities of applications in monitoring dynamic processes in biological systems


HONG KONG SAR – Media OutReach Newswire – 21 February 2024 – A collaborative project led by Professor Zhiqin Chu, Professor Can Li and Professor Ngai Wong, at the Department of Electrical and Electronic Engineering of the University of Hong Kong (HKU) has made a breakthrough in enhancing the speed and resolution of widefield quantum sensing, leading to new opportunities in scientific research and practical applications.

(From left) Professor Ngai Wong, Professor Can Li, Professor Zhiqin Chu and Zhiyuan Du Image Credit: The University of Hong Kong
(From left) Professor Ngai Wong, Professor Can Li, Professor Zhiqin Chu and Zhiyuan Du Image Credit: The University of Hong Kong

By collaborating with scientists from Mainland China and Germany, the team has successfully developed a groundbreaking quantum sensing technology using a neuromorphic vision sensor, which is designed to mimic the human vision system. This sensor is capable of encoding changes in fluorescence intensity into spikes during optically detected magnetic resonance (ODMR) measurements. The key advantage of this approach is that it results in highly compressed data volumes and reduced latency, making the system more efficient than traditional methods. This breakthrough in quantum sensing holds potential for various applications in fields such as monitoring dynamic processes in biological systems.

The research paper has been published in the journal Advanced Science titled “Widefield Diamond Quantum Sensing with Neuromorphic Vision Sensors”.

“Researchers worldwide have spent much effort looking into ways to improve the measurement accuracy and spatiotemporal resolution of camera sensors. But a fundamental challenge remains: handling the massive amount of data in the form of image frames that need to be transferred from the camera sensors for further processing. This data transfer can significantly limit the temporal resolution, which is typically no more than 100 fps due to the use of frame-based image sensors. What we did was trying to overcome the bottleneck,” said Zhiyuan Du, the first author of the paper and PhD candidate at the Department of Electrical and Electronic Engineering

Du said his professor’s focus on quantum sensing had inspired him and other team members to break new ground in the area. He is also driven by a passion for integrating sensing and computing.

“The latest development provides new insights for high-precision and low-latency widefield quantum sensing, with possibilities for integration with emerging memory devices to realise more intelligent quantum sensors,” he added.

The team’s experiment with an off-the-shelf event camera demonstrated a 13× improvement in temporal resolution, with comparable precision in detecting ODMR resonance frequencies with the state-of-the-art highly specialized frame-based approach. The new technology was successfully deployed in monitoring dynamically modulated laser heating of gold nanoparticles coated on a diamond surface. “It would be difficult to perform the same task using existing approaches,” Du said.

Unlike traditional sensors that record the light intensity levels, neuromorphic vision sensors process the light intensity change into “spikes” similar to biological vision systems, leading to improved temporal resolution (≈µs) and dynamic range (>120 dB). This approach is particularly effective in scenarios where image changes are infrequent, such as object tracking and autonomous vehicles, as it eliminates redundant static background signals.

“We anticipate that our successful demonstration of the proposed method will revolutionise widefield quantum sensing, significantly improving performance at an affordable cost,” said Professor Zhiqin Chu.

“This also brings closer the realisation of near-sensor processing with emerging memory-based electronic synapse devices,” said Professor Can Li.

“The technology’s potential for industrial use should be explored further, such as studying dynamic changes in currents in materials and identifying defects in microchips,” said Professor Ngai Wong.

Link to the paper: https://onlinelibrary.wiley.com/doi/10.1002/advs.202304355

Hashtag: #HKU

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

Etiqa Insurance Singapore returns as the Official NATAS Sponsor and Travel Partner for 2024


SINGAPORE – Media OutReach Newswire – 21 February 2024 – Etiqa Insurance Singapore, a leading general and life insurer, today announced its continued sponsorship of the 2024 National Association of Travel Agents Singapore (NATAS) Fair from 1 to 3 March as its Official Travel Insurance Partner. This third consecutive year of partnership with NATAS underscores Etiqa Insurance Singapore’s steadfast commitment to protecting all Singaporeans for travel needs.

Etiqa Insurance Singapore returns as the Official NATAS Sponsor and Travel Partner for 2024
Etiqa Insurance Singapore returns as the Official NATAS Sponsor and Travel Partner for 2024

To celebrate Etiqa Insurance Singapore’s 10th Anniversary, Etiqa will be offering a series of exciting activities and campaigns throughout the year. Visitors to Etiqa’s booth at 4H35 at Expo Hall 4 and 5A can enjoy up to 35% off their travel insurance policies, free gifts with every purchase, and also stand to win 2 Apple iPhones worth $3,600!

“Etiqa Insurance Singapore is delighted to announce its return as the official travel insurer for NATAS Travel 2024. Our extensive range of travel insurance plans are designed to safeguard Singaporeans’ holidays, providing travellers with the confidence they need to explore the world. With the right protection, Singaporeans can look forward to a seamless travel experience, accompanied by the assurance and peace of mind they deserve,” stated Raymond Ong, CEO of Etiqa Insurance Singapore.

Drop by booth 4H35 to find out more about Etiqa’s travel insurance plans, tailored for both individual and family vacations. NATAS Travel 2024 will be open from 1 March to 3 March between 10 am to 9.30 pm. Admission is free.

Terms apply. Protected up to specified limits by SDIC.

Hashtag: #etiqa #etiqainsurancesingapore #natas #natasfair #travelinsurance

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

About Etiqa Insurance Pte. Ltd. (Etiqa Insurance Singapore)

Protecting customers since 1961, Etiqa Insurance Singapore is a licensed life and general insurance company regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act. The local insurer is the Singapore operating entity of Etiqa Insurance Group – a leading insurance and takaful business in ASEAN offering life and general insurance and family and general takaful products through its agents, branches, offices, and bancassurance network in the region. Etiqa is rated ‘A’ by credit rating agency Fitch for the group’s ‘Favorable’ business profile and ‘Very Strong’ capitalisation.

Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group with footprints across 16 countries and a heritage that spans over 190 years.

First Phosphate Provides Update on Plans for a Purified Phosphoric Acid Plant at Port Saguenay, Quebec


SAGUENAY, QUEBEC – Newsfile Corp. – 20 February 2024 – First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to update the market on its plans for a purified phosphoric acid (“PPA”) plant at the Port of Saguenay and the development of the North American lithium iron phosphate (“LFP”) battery valley in the Saguenay-Lac-Saint-Jean Region of Quebec.

On November 21, 2022, First Phosphate CEO, John Passalacqua, addressed the Federation of Chambers of Commerce of the Saguenay-Lac-Saint-Jean Region of Quebec (“FCC-SLSJ”) and shared, with local business leaders and politicians, the vision for the creation of an LFP battery ecosystem in the Saguenay-Lac-Saint-Jean Region of Quebec. Mr. Passalacqua provided a further update to the FCC-SLSJ on February 8, 2024. A recording of the February 8 session is available at: https://www.youtube.com/watch?v=CnarUchmXdg.

Building a PPA plant and an LFP battery ecosystem for North America is a major undertaking. Since first laying out the Company’s vision in 2022, First Phosphate has taken the following progressive steps towards realizing its PPA plant at Port Saguenay and in establishing the Saguenay-Lac-St-Jean region of Quebec as the LFP battery valley of North America.

Engineering and Feasibility Study

The Company has completed its internal pre-feasibility study for its PPA plant at Port Saguenay, Quebec and is in the process of evaluating engineering firms to begin a potential formal feasibility study. All PPA production will be fully internalized and limited to the development of LFP cathode active material (“CAM”) by the Company and its strategic partners so as not to disrupt existing fragile equilibria in the food phosphates and fertilizer industries.

The Company has created a full proprietary financial model for the future PPA facility and is amenable to sharing details of its pre-feasibility work with those who have the ability to add synergies to its existing network of strategic partners.

Industrial Land, Infrastructure & Port Access

The Company signed a memorandum of understanding (“MOU”) with Port Saguenay Authority to secure industrial lands and deep-sea shipping access for the establishment a PPA plant:
https://firstphosphate.com/PortSaguenay

Sulfuric Acid Supply

The Company signed an MOU with with NorFalco Sales (“NorFalco”), a division of Glencore Canada Corporation to secure supply of sulfuric acid (a key component in the production of PPA) for its future industrial facilities in Saguenay-Lac-St-Jean, Quebec:
https://firstphosphate.com/norfalco

Phosphate Concentrate Feedstock

The Company successfully concentrated its phosphate ore into beneficiated phosphate concentrate at ~41% pure P205 (~97% pure apatite) in pilot production and has developed a pilot plant for the purpose of creating feedstock to produce PPA:
https://firstphosphate.com/pilotplant

PPA Production

The Company transformed its beneficiated phosphate concentrate into Merchant Grade Phosphoric Acid (“MGA”) and subsequently into food/battery grade PPA at pilot scale:
https://www.firstphosphate.com/phos_acid

PPA Facility Financing

The Company established a clean, debt-free credit history and has been able to procure an LOI from the Export-Import Bank of the United States (“EXIM”) to provide stable, government-backed financing for a PPA plant while limiting the amount of equity dilution to shareholders.
https://firstphosphate.com/exim

Downstream LFP Manufacturing Partnerships

The Company negotiated agreements with various LFP production technology providers for downstream offtake for its PPA production and to service various LFP market segments:
https://firstphosphate.com/abf
https://firstphosphate.com/ultion-technologies-mou
https://firstphosphate.com/IntegralsPower
https://firstphosphate.com/lithium-australia-mou
https://firstphosphate.com/sunchem
https://firstphosphate.com/ipl_jda

Local Supply Chain Development

Through Comité de maximisation des retombées économiques regionals (“CMAX”), the Company has created direct relationships with businesses, contractors and suppliers in the Saguenay-Lac-St-Jean region of Quebec that have experience with large-scale industrial projects.. The Company has obtained regional major project status from CMAX:
https://firstphosphate.com/CRP-CMAX

Indigenous Community Involvement

CEO, John Passalacqua, and Chief Geologist, Gilles Laverdière, have personally visited all three local Innu communities (Essipit, Mastheuiatsh, Pessamit) and met with local leadership to present the project and to establish dialogue. Innu First Nations mining executive, Armand Mackenize, was appointed to the advisory board of the Company. Groupe Conseil Nutshimit-Nippour was hired for social and environmental impact analysis; and First Nations Drilling was engaged for exploration activities:
https://firstphosphate.com/armandmackenzie
https://firstphosphate.com/le-groupe-conseil-nutshimit-nippour
https://firstphosphate.com/first-nations-drilling

Clean Power from Quebec Hydro

The Company submitted formal requests to Quebec Hydro in 2023 for the allocation of clean electricity to the PPA and LFP facilities as well as requested consideration to return electricity to the hydro grid should a sulfuric acid plant be built at the Port of Saguenay. The Company’s requests are with Hydro Quebec Lots #2 and #3 and awaiting response.
https://www.hydroquebec.com

Quebec Critical-Strategic Minerals List and Government Awareness

In January 2024, in response to advocacy by the Company and others, the Quebec Government recognized apatite (phosphate) as a critical and strategic mineral. Furthermore, the Company received a strong letter of support for its activities and its planned PPA plant from Mario Simard, Member of Parliament for the local riding of Jonquière, Québec, vice-chair of Parliament’s Standing Committee on Natural Resources and critic for natural resources for the Bloc Québécois.
https://firstphosphate.com/phosphate-added-critical-minerals-list
https://firstphosphate.com/mariosimard.pdf

Battery Ecosystem Development and Validation of the Company’s Business Model

On January 30, 2024, Arianne Phosphate (DAN: TSXV) announced that “it has commenced work on a Prefeasibility Study to construct a downstream purified phosphoric acid plant in the region” and “allow the Saguenay region to establish itself within the global battery ecosystem.” First Phosphate looks forward to working with all interested parties in generating awareness and support for, and building the infrastructure necessary to realize its vision of developing the Saguenay-Lac-Saint-Jean Region of Quebec into the LFP battery valley of North America.
https://www.arianne-inc.com/news/arianne-phosphate-advances-prefeasibility-study-for-a-purified-phosphoric-acid-plant
https://firstphosphate.com/ChambresCommerce

Proposed Location of First Phosphate PPA Facility at Existing Port of Saguenay

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/198475_1c5ff88b64f7ca22_001full.jpg

About First Phosphate Corp.

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, in responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate materially devoid of high concentrations of harmful elements.

For additional information, please contact:

Bennett Kurtz, CFO
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

-30-

Forward-Looking Information and Cautionary Statements

This news release contains certain statements and information that may be considered “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things, the Company’s planned exploration and production activities, the properties and composition of any extracted phosphate, the Company’s plans for vertical integration into North American supply chains, including, but not limited to, the Company’s ability to realize and successfully participate in its “Vertically Integrated Production Plan” and “External Downstream Producer” plan, and related disclosure, continued relations with local Innu communities, the establishment of the Saguenay-Lac-St-Jean region of Quebec as the LFP battery valley of North America, the results of feasibility studies, and the receipt of approvals and availability of financing for the proposed PPA plant,

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, expectations of the Company’s long term business outcomes given its short operating history; expectations regarding revenue, expenses and operations; the Company having sufficient working capital and ability to secure additional funding necessary for the exploration of the Company’s property interests; expectations regarding the potential mineralization, geological merit and economic feasibility of the Company’s projects; expectations regarding drill programs and the potential impacts successful drill programs could have on the life of the mine and the Company; mineral exploration and exploration program cost estimates; expectations regarding any environmental issues that may affect planned or future exploration programs and the potential impact of complying with existing and proposed environmental laws and regulations; receipt and timing of exploration and exploitation permits and other third-party approvals; government regulation of mineral exploration and development operations; expectations regarding any social or local community issues that may affect planned or future exploration and development programs; expectations surrounding global economic trends and technological advancements; and key personnel continuing their employment with the Company.

There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include: limited operating history; high risk of business failure; no profits or significant revenues; limited resources; negative cash flow from operations and dependence on third-party financing; the uncertainty of additional funding; no dividends; risks related to possible fluctuations in revenues and results; insurance and uninsured risks; litigation; reliance on management and key personnel; conflicts of interest; access to supplies and materials; dangers of mineral exploration and related liability and damages; risks relating to health and safety; government regulation and legal uncertainties; the company’s exploration and development properties may not be successful and are highly speculative in nature; dependence on outside parties; title to some of the Company’s mineral properties may be challenged or defective; Aboriginal title and land claims; obtaining and renewing licenses and permits; environmental and other regulatory risks may adversely affect the company; risks relating to climate change; risks related to infrastructure; land reclamation requirements may be burdensome; current global financial conditions; fluctuation in commodity prices; dilution; future sales by existing shareholders could cause the Company’s share price to fall; fluctuation and volatility in stock exchange prices; and risks related to market demands. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant.

These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian securities authorities, including without limitation the “Risk Factors” section of the Company’s Annual Information Form dated November 29, 2023 which is available on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

About First Phosphate Corp.

Catch the Lowest Prices Online at 3.3 Mega Shopping Sale: Shopee’s First Mega Sale of 2024


SINGAPORE – Media OutReach Newswire – 20 February 2024 – Shopee is excited to announce the highly anticipated 3.3 Mega Shopping Sale, set to take place from March 3rd to March 15th, 2024. Bursting with unbeatable deals and irresistible promotions, the 3.3 Mega Shopping Sale is set to redefine the shopping experience for all.

3.3 Mega Shopping Sale
Shopee 3.3 Mega Shopping Sale

To guarantee the absolute lowest prices online, from March 3rd to March 15th, users can purchase any item marked with the ‘Lowest Price Online Guaranteed’ label and get up to 3x the price difference if they discover the same item at a lower price elsewhere online. Users can simply submit a claim to Shopee with the lower price and receive up to 3x the price difference refunded via Shopee coins, capped at $30.

But that’s not all. Shoppers can indulge in 50% cashback on Shopee LIVE, where they can apply a 50% Livestream voucher to items added from livestream shopping bags under Cashback program sellers. For those who can’t wait for their parcels, Free Next Day Delivery vouchers are up for grabs! Claim these shipping vouchers daily starting from February 27th and redeem them from March 3rd onwards.

This 3.3 Mega Shopping Sale promises unbeatable deals. Each day from March 3rd to March 15th, shoppers can explore 50% off deals starting at 12pm, featuring cashback vouchers and curated deals that refresh daily and are available in limited quantities, subject to a first-come, first-serve basis.

Voucher lovers can look forward to using the following Shopee vouchers at checkout to secure even lower prices.

  • Upsized Vouchers: Get ready for upsized voucher drops throughout the day.
  • Brands Vouchers: Top brands are offering additional stackable vouchers with 12% and 8% off storewide.
  • Flash Deals: Limited time deals across 7 Flash Deal timeslots on March 3rd & March 15th

Experience the excitement of the the 3.3 Mega Shopping Sale now at: https://shopee.sg/m/3-3


Hashtag: #ShopeeSingapore

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

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia & Taiwan. Shopee promotes an inclusive and sustainable digital ecosystem by enabling businesses to digitalise and grow their online presence, helping more people access and benefit from digital services, and uplifting local communities.

Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. Shopee is also a key contributor to the region’s digital economy with a firm commitment to helping homegrown brands and entrepreneurs succeed in e-commerce.

Shopee is part of Sea Limited (NYSE: SE), a leading global consumer internet company. Sea’s mission is to better the lives of consumers and small businesses with technology through its three core businesses: Shopee, Garena and SeaMoney.

Southeast Asian Region Contends With Far-Reaching Psychological Effects of Wildfire Smoke 

PM 2.5 pollution engulfing Bangkok (photo: Getty image)

Research conducted by the Spears School of Business, with colleagues from the Massachusetts Institute of Technology (MIT) revealed that wildfire smoke in Southeast Asia significantly affects people’s moods, especially when occurring in neighboring countries.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash


Tokyo, Japan and Paris, France – Newsfile Corp. – February 20, 2024 – Renesas Electronics Corporation (TSE: 6723) (“Renesas”) and Sequans Communications S.A. (NYSE: SQNS) (“Sequans”) today announced that (i) Renesas has extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (“ADSs”) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes, (ii) pursuant to articles L. 151-3 and R. 151-1 et seq. of the French Code Monétaire et Financier, Renesas has received foreign direct investment regulatory authorization from the French Ministère chargé de l’Economie et des Finances on the previously announced proposed acquisition of Sequans and (iii) on February 15, 2024, Renesas informed Sequans that the National Tax Agency of Japan confirmed to Renesas that consummation of the reorganization provided in the Memorandum of Understanding between Renesas and Sequans would require Renesas to recognize taxable gain and pay tax under Article 66-6 of Act on Special Measures Concerning Taxations of Japan. Renesas is of the opinion that this confirmation constitutes an Adverse Japanese Tax Ruling under the Memorandum of Understanding and, therefore, the contractual condition in the Memorandum of Understanding to the tender offer requiring Renesas’ receipt of a confirmation that such reorganization not trigger such tax cannot be fulfilled. Both parties are discussing next steps in light of this development.

On February 12, 2024, the parties closed another financing transaction in which a wholly owned subsidiary of Renesas loaned an additional $9,000,000 to Sequans in exchange for an unsecured subordinated note of Sequans. Sequans expects to use the proceeds from the financing transaction to partially fund operations.

The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on February 20, 2024, has been extended by Renesas until one minute after 11:59 P.M., New York City time, on March 4, 2024, unless the tender offer is further extended or earlier terminated. The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, the valid tender of ordinary shares and ADSs of Sequans representing – together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any – at least 90% of the fully diluted ordinary shares of Sequans.

The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on February 16, 2024, approximately 123,472,744 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 44.5% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.

The tender offer is being made pursuant to the Offer to Purchase, dated September 11, 2023 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), the related Ordinary Share Acceptance Form, ADS Letter of Transmittal and certain other offer documents (together with any amendments or supplements thereto), copies of which are attached to the combined Tender Offer Statement and Rule 13e-3 Transaction Statement filed under cover of Schedule TO by Renesas and Renesas Electronics Europe GmbH with the U.S. Securities and Exchange Commission (the “SEC”) on September 11, 2023, as amended.

About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. The leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, X, YouTube and Instagram.

About Sequans Communications
Sequans Communications S.A. (NYSE: SQNS) is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, and China. Visit Sequans online at http://www.sequans.com/, and follow us on Facebook, X and LinkedIn.

Advisors
BofA Securities is serving as financial advisor to Renesas, and Goodwin Procter LLP is serving as legal counsel. Needham & Company is serving as financial advisor to Sequans, and Orrick, Herrington & Sutcliffe LLP is serving as legal counsel.

Important Additional Information and Where to Find It
In connection with the proposed acquisition of Sequans Communications S.A. (“Sequans”) by Renesas Electronics Corporation, a Japanese corporation (“Parent” or “Renesas”), Parent commenced a tender offer for all of the outstanding ordinary shares, including American Depositary Shares of Sequans, on September 11, 2023. This communication is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell securities of Sequans. It is also not a substitute for the tender offer materials that Parent and Renesas Electronics Europe GmbH, a direct wholly owned subsidiary of Parent (“Purchaser”) filed with the SEC or the solicitation/recommendation statement that Sequans filed on Schedule 14D-9 with the SEC upon commencement of the tender offer. Purchaser filed tender offer materials on Schedule TO with the SEC, and Sequans filed a solicitation/recommendation statement on Schedule 14D-9 and a transaction statement on Schedule 13E-3 with respect to the tender offer with the SEC. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT AND TRANSACTION STATEMENT CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY AND BE CONSIDERED BY SEQUANS’ SECURITYHOLDERS BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. Both the tender offer materials and the solicitation/recommendation statement and transaction statement will be made available to Sequans’ investors and security holders free of charge. A free copy of the tender offer materials and the solicitation/recommendation statement and transaction statement will also be made available to all of Sequans’ investors and security holders by contacting Sequans at ir@sequans.com, or by visiting Sequans’ website (www.sequans.com). In addition, the tender offer materials and the solicitation/recommendation statement (and all other documents filed by Sequans with the SEC) are available at no charge on the SEC’s website (www.sec.gov) upon filing with the SEC. SEQUANS’ INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE TENDER OFFER MATERIALS, THE SOLICITATION/RECOMMENDATION STATEMENT AND THE TRANSACTION STATEMENT, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED BY PARENT OR SEQUANS WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE TENDER OFFER. THESE MATERIALS CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER, PARENT AND SEQUANS.

Cautionary note regarding forward-looking statements
This announcement may contain certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Renesas and/or Sequans and/or the combined group following completion of the transaction and certain plans and objectives of Renesas with respect thereto. These forward-looking statements include, but are not limited to, statements regarding the satisfaction of conditions to the completion of the proposed transaction and the expected completion of the proposed transaction, the timing and benefits thereof, as well as other statements that are not historical fact. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-Looking statements also often use words such as “anticipate,” “target,” “continue,” “estimate,” “expect,” ”forecast,” “intend,” “may,” “plan,” “goal,” “believe,” “hope,” “aims,” “continue,” “could,” “project,” “should,” “will” or other words of similar meaning. These statements are based on assumptions and assessments made by Renesas and/or Sequans (as applicable) in light of their experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.

Forward-Looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Such risks and uncertainties include, but are not limited to, the potential failure to satisfy conditions to the completion of the proposed transaction due to the failure to receive a sufficient number of tendered shares in the tender offer; the failure to obtain necessary regulatory or other approvals; the outcome of legal proceedings that may be instituted against Sequans and/or others relating to the transaction; the possibility that competing offers will be made; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; significant or unexpected costs, charges or expenses resulting from the proposed transaction; and negative effects of this announcement or the consummation of the proposed acquisition on the market price of Sequans’ ADS and ordinary shares. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. If any one or more of these risks or uncertainties materializes or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward looking statements should therefore be construed in the light of such factors. A more complete description of these and other material risks can be found in Sequans’ filings with the SEC, including its annual report on Form 20-F for the year ended December 31, 2022, subsequent filings on Form 6-K and other documents that may be filed from time to time with the SEC, as well as the Schedule TO and related tender offer documents filed by Parent and Purchaser and the Schedule 14D-9 and Schedule 13E-3 filed by Sequans. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Neither Renesas nor Sequans undertakes any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.

No member of the Renesas group or the Sequans group nor any of their respective associates, directors, officers, employers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur.

Except as expressly provided in this announcement, no forward-looking or other statements have been reviewed by the auditors of the Renesas group or the Sequans group. All subsequent oral or written forward-looking statements attributable to any member of the Renesas group or the Sequans group, or any of their respective associates, directors, officers, employers or advisers, are expressly qualified in their entirety by the cautionary statement above.

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All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.

Media Contacts:
Renesas Electronics Corporation
Akiko Ishiyama
+ 1-408-887-9006
pr@renesas.com

Sequans Communications S.A.
Kimberly Tassin
+1-425-736-0569
Kimberly@Sequans.com

Investor Relations Contacts:
Renesas Electronics Corporation
Yuma Nakanishi
+81 3-6773-3002
ir@renesas.com

Sequans Communications S.A.
Kim Rogers
+1-541-904-5075
Kim@HaydenIR.com

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