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Winning a bid of 12 Digital Zodiac Heads, TRON Founder Justin Sun’s Prospective Eye and Moves on NFT Market

SINGAPORE – Media OutReach – 14 April 2022 – Last week, Justin purchased a highly symbolic NFT collection of 12 Digital Zodiac Heads that draws inspiration from the legendary Chinese Zodiac Animal Heads for a record price of USD1.55 million (RMB 9,832,500), which was auctioned by Metapoly XM, a brand under Poly Auction (Xiamen).

Justin Sun, who got his history degree from the prestigious Peking University, and his master’s degree in Social Sciences from the University of Pennsylvania, founded the world’s leading blockchain ecosystem TRON in 2017 at the age of 26. Today, TRON has become one of the world’s largest blockchain and crypto ecosystems, boasting over 85 million users worldwide and average daily trading volume of USD1.5 billion on its networks.

Justin has been keen on the world of arts and culture. In recent years, he has purchased some of the world’s most famous masterpieces of art for his personal collection. The latest additions to this impressive emsemble include: the Nose (Le Nez), purchased for USD78 million at Sotheby’s New York Fall Auction in 2021, Pablo Picasso’s Femme nue couchée au collier (Marie-Thérèse) purchased for USD20 million, and Three Self-Portraits by Andy Warhol for USD2 million, at Christie’s 20th Century Art Evening Sale. He has since tokenized most of these artworks and launched the NFT artworks publicly.

Justin thinks the 12 zodiac animals matter so much because of the comprehension of tradition and digitization.

The twelve zodiac animals are well-known symbols of Chinese culture and philosophy. As a tradition dating back more than 2000 years, Chinese families assign their newborns a zodiac animal matching the lunar calendar year of their birth. These zodiac animals are supposed to represent and influence one’s personality, character and fortunes through life. Countless artworks have been created based on the twelve zodiac animals. Among them, the twelve bronze animal heads of the Old Summer Palace, lost during the Second Opium War of 1860, are the best known worldwide. Poly Auctions’parent company, state-owned Poly Corp, had previously purchased three of the animal heads for repatriation, and now displays four of them, along with replicas of the remaining ones, in a Beijing museum.

Over the years, the NFT art market has enjoyed substantial growth. As is shown in public data, NFT art transactions hit USD17 billion in 2021, a whopping 200-fold increase from just a year ago. Global tech giants including Meta, Microsoft, Disney, and Tencent, as well many international celebrities, have made big moves in the NFT market.

In terms of the issue of how sellers and buyers benchmark the prices of NFT artworks properly and what the true values of NFT artworks are, it is obvious that blockchain-based ecosystems are helping to build a bridge between the traditional art world and the evolving digital world. In many observers’ view, Justin’s collaboration with Metapoly XM to reunite the venerated national symbols in the digital world not only cements his stature as a world-leading NFT collector, but also indicates his grander ambitions in the world of digital art and philanthropy.

As the biggest supporter, Justin has donated unique tokenized versions of the above-mentioned masterpieces, as well his USD6 million NFT artwork OCEAN FRONT, by the renowned crypto artist Beeple to the APENFT Foundation, which was established last March with a mission to turn the world’s top artworks into NFTs. It aims to create and promote more high-quality digital assets through financial and technology support, helping more people to understand and get access to NFTs.

The foundation has received world-class technological support from TRON, the world’s largest blockchain ecosystem, and Bittorrent File System (BTFS), which provides the most advanced decentralized file storage system. In time, APENFT plans to expand its exploration and expertise into digital entertainment, culture preservation, and other fields. Justin has predicted that half of the world’s top 100 artists and artworks will be turned into NFTs in the coming decade.

The NFT marketplace is blossoming. OpenSea is the world’s largest NFT marketplace today and it is valued at USD13.3 billion after a latest funding round in January, the same month its trading volume topped USD 5 billion. Nevertheless, the APENFT foundation is currently testing its NFT platform, APENFT Marketplace, and plans to launch it soon. Industry insiders expect that one of the animal heads in the 12 Digital Zodiac Heads collection will be listed on APENFT Marketplace. For those who know Justin’s passion and ambition, it is certain that the upcoming APENFT Marketplace will become a strong challenger with explosive force to OpenSea.

#TRONDAO

CMIA Capital Partners & Surbana Jurong to develop a 1,018 hectare mixed-use township in Ho Chi Minh City, Vietnam

MOU signing ceremony witnessed by His Excellency Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam

HO CHI MINH CITY, VIETNAM – Media OutReach – 14 April 2022 – CMIA Capital Partners has signed a Memorandum of Understanding (MOU) with Ho Chi Minh City on the development of a 1,018 hectare mixed-use township in the Trung An Commune of Cu Chi District, Ho Chi Minh City.

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Ms Nina Yang, CEO of Surbana Jurong – SJ CityGlobal (centre left), and Mr Lee Chong Min, Chairman of CMIA Capital Partners (centre) receiving the signed Memorandum of Understanding from Ms Pham Thi Thanh Hien, Chairwoman of the Ho Chi Minh City, Cu Chi District People’s Committee (centre right). His Excellency Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam witnessed the MOU signing ceremony.

The Ho Chi Minh City Agri Food-Tech Eco Township will be a new integrated regional urban centre for Ho Chi Min City. The township will have an industry focus in food science and technology, including food processing and manufacturing, product development, quality assurance and quality control, research, and regulation. The value of the project is estimated at US$ 1.1 billion. CMIA Capital Partners would lead the investment in, and Surbana Jurong would be the development manager of, the project.

CMIA Capital Partners is a private equity firm headquartered in Singapore. CMIA Capital Partners has a 20-year track record of investing in Asia.

Surbana Jurong is a consultancy company focusing on infrastructure and urban development. Surbana Jurong is a wholly owned subsidiary of Temasek Holdings.

The MOU was signed at the Conference on Investment Promotion in Cu Chi District and Hoc Mon District 2022. His Excellency Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam, chaired the conference and witnessed the signing of the MOU.

Speaking at the Conference, Mr Lee Chong Min, Chairman of CMIA Capital Partners said: “Vietnam has a strong and resilient economy and has been welcoming of foreign direct investments. To date, we have met His Excellency Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam; Mr Nguyen Van Nen, Ho Chi Minh City Party Secretary; Mr Phan Van Mai, Chairman of Ho Chi Minh City People’s Committee; as well as many other leaders of Ho Chi Minh City on the project. We appreciate the support given to the Ho Chi Minh City Agri Food-Tech Eco Township project. We thank the leadership for providing the most favourable of conditions for our investment in this project in the Cu Chi District of Ho Chi Minh City”.

Ms Nina Yang, CEO of Surbana Jurong – SJ CityGlobal, the development management arm of Surbana Jurong, said: “Surbana Jurong is able to harness our unique experience and expertise in master development to plan, design and implement large scale urbanisation projects. Some of these projects include the New Clark City in The Philippines, Microsoft ZiZhu Campus in Shanghai, Heart of Bay Project in Shenzhen and the G4 City, adjoining Almaty City of Kazakhstan. We’re excited about partnering with CMIA Capital Partners to build a township and industrial park that enhance liveability and economic growth in Ho Chi Minh City.”

As a megacity, Ho Chi Minh City embraces decentralized urbanisation to provide for long-term economic growth and prosperity. Conceptually, each regional urban centre will have an industry focus. This will provide for productivity gains through economies of scale, enhanced innovation from a concentration of skills and talents and resource optimisation.

The Ho Chi Minh City Agri Food-Tech Eco Township will be a new integrated regional urban centre for Ho Chi Minh City. The township will be home to 100,000 residents, have a 200-hectare food science and technology industrial park and contain a myriad of recreational spaces and amenities. Residents will be able to live, work and play, all within the township.

The township is expected to generate revenues of about 2 billion dollars annually and create stable jobs for more than 20,000 employees. The township will uplift the region’s GDP per Capita towards the US$8,500 by 2025 target set by the Ho Chi Minh City People’s Committee.

About CMIA Capital Partners

CMIA Capital Partners is a private equity firm headquartered in Singapore. CMIA Capital Partners has a 20-year track record of investing in Asia. CMIA Capital Partners is licensed and regulated by both the Monetary Authority of Singapore (MAS) and the China Securities & Regulatory Commission (CSRC).

#CMIACapitalPartners

About Surbana Jurong

Surbana Jurong Group is a global urban, infrastructure and managed services consulting firm, with over 70 years of track record in successful project delivery. Headquartered in Singapore, the group has a global talent pool of 16,000 across Surbana Jurong and our member companies AETOS, Atelier Ten, B+H, KTP, Prostruct, RBG, SAA, Sino-Sun and SMEC, based in more than 120 offices in over 40 countries. They include architects, designers, planners, engineers and other specialists driven by progressive thinking and creative ideas to help shape a better future.

Surbana Jurong has built more than a million homes in Singapore, created master plans in more than 30 countries and developed over 100 industrial parks globally. Our tag line “Building Cities, Shaping Lives” expresses how every project or undertaking is, for the Group, an opportunity to fulfil aspirations and enrich lives. By designing and delivering quality housing, workspaces, roads, rail, hydropower, dams, underground and coastal protections and other critical infrastructure needed by our clients, we are redefining cities and transforming them into sustainable and liveable spaces where communities and businesses, present and future, can thrive.

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

Reckitt Launched the ‘Hong Kong Community Care Programme 2022’ and Established Partnerships with Four NGOs to Provide Hygiene Protection to Local Community

To date, hygiene and disinfectant products benefiting over 6,000 individuals and families in need have been donated. Full year donations will be over HKD 3 million 1.

HONG KONG SAR – Media OutReach – 14 April 2022 – Reckitt exists to protect, heal and nurture in the relentless pursuit of a cleaner and healthier world. Today, Reckitt is pleased to announce partnerships with four NGOs to launch the ‘Hong Kong Community Care Programme 2022’, providing protection to the local community through access to the highest quality hygiene, wellness and nourishment as a right and not a privilege.

Since January, social distancing measures have been tightened due to the fifth wave of COVID-19 in Hong Kong. As of 13 April 2022, nearly 99% (1,181,664) of the total cases that tested positive for the SARS-CoV-2 virus reported2 the fifth wave of COVID-192. The accumulated number of COVID-19 death cases during the fifth wave of COVID-19 was 8,886, accounting for 99% (8,948)3 COVID-19 death cases since 2020.

Hygiene is the foundation of public health. To protect the local community against COVID-19, Reckitt launched the ‘Hong Kong Community Care Programme 2022’ and established partnership with four NGOs, namely, Feeding Hong Kong, Hong Kong Red Cross, Hong Kong Council of Early Childhood Education and Services and Evangelical Lutheran Church Social Service – Hong Kong, to support with product donation, hygiene education and volunteering throughout the year.

Hygiene and disinfectant products of Reckitt’s renowned brand, Dettol, have been donated since March, reaching over 6,000 individuals and families from underprivileged households, outreach programmes in schools and residents in hostels. A combined value of about half million of Hong Kong dollar1 of product have been donated including antiseptic liquids, surface cleanser wipes, disinfectant sprays, surface cleansers, hand washes, laundry sanitisers and shower gels.

Reckitt announced annual partnerships with four NGOs for 2022

Feeding Hong Kong (Feeding HK): Reckitt is generously supporting Feeding HK with an annual product donation commitment of HK$2,000,0001. The donated products will support those eligible for essential assistance support in Hong Kong from FHK’s regular community aid, including seniors, low-income families, new immigrant families, underprivileged kids, homeless, refugees and minority ethnic groups.

Mr Billy Yeung, CEO of Feeding HK said, “We are delighted to mark the start of our partnership with Reckitt with this donation of trusted hygiene products, which will make a huge impact to people across Hong Kong who have been hit hard by the fifth wave of COVID-19. Partnerships are at the core of our work here at Feeding Hong Kong, and we are looking forward to continue working with Reckitt.”

Hong Kong Red Cross (HKRC): Reckitt extended its corporate partnership with British Red Cross in the UK to local community by collaborating with HKRC. As Corporate Partner, Reckitt is committing an annual product donation of HK$1,000,0001 to provide hygiene protection at HKRC’s service points and programmes related to COVID-19 response, as well as community health projects and people in need in Hong Kong such as single elderly or two-elderly households, people with disabilities or in stress in Hong Kong etc.

Ms Alice LING Ching Yin, Acting Director (Management) of HKRC said, “Since January 2020, HKRC has been concerning the development of the epidemic and providing services such as pandemic prevention materials and psychological support to the vulnerable groups. Meanwhile, health education and establishment of mutual support networks in the community are also our main work focus. HKRC would like to express our gratitude to Reckitt for its recognition and support of our works on pandemic prevention, public health and community health promotion, by sending cleanliness-related materials to support the underprivileged and encouraging its staff to participate our volunteer services and blood donation.”

Hong Kong Council of Early Childhood Education and Services (CECES): Reckitt is named the Official Hygiene Partner of CECES. In addition to the existing partnership in School Health Protection Education supported by Dettol Health Academy, Reckitt will also support CECES’s other outreach programmes in schools, its community services and projects that support children from low-income and disadvantaged families, and at its office.

Ms Sansan Ching, Director of CECES said, “This year marks the 40th anniversary of CECES. We are delighted to partner with Reckitt as our Official Hygiene Partner by providing hygiene protection to our different projects and services in schools and communities with its hygiene and disinfectant products.”

Evangelical Lutheran Church Social Service – Hong Kong (ELCSS-HK): Reckitt becomes the Official Hygiene Partner of ELCSS-HK to provide product support to its seven elderly and rehabilitation homes and drug rehabilitation hostels, protecting the health and hygiene of a total of 530 residents.

Ms. Agnes Leung, Assistant Chief Executive of ELCSS-HK said, “We are grateful to have Reckitt as the Official Hygiene Partner in these challenging times. Together with Reckitt, we can build a high hygiene level living environment at our Homes and Hostels, which providing 24 hours care services to frail users.”

“At Reckitt, we put people first and are committed to keeping everyone safe and healthy” said Boudewijn Feith, Reckitt General Manager Hong Kong/Taiwan. “We are accountable for supporting the community and caring for our consumers under the fifth wave of COVID-19 in Hong Kong and through which to contribute to a speedy recovery. Together with the four NGO partners, we aim to uphold our fight to expand the reach to underprivileged individuals to make highest quality hygiene a right.”

About Reckitt

Reckitt* exists to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. We believe that access to the highest-quality hygiene, wellness and nourishment is a right, not a privilege.

Reckitt is the company behind some of the World’s most recognisable and trusted consumer brands in Hygiene, Health and Nutrition, including Air Wick, Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet, Woolite and more.

Every day, more than 20 million Reckitt products are bought globally. We always put consumers and people first, seek out new opportunities, strive for excellence in all that we do and build shared success with all our partners. We aim to do the right thing, always.

We are a diverse global team of more than 43,000 colleagues. We draw on our collective energy to meet our ambitions of purpose-led brands, a healthier planet and a fairer society.

Find out more, or get in touch with us, at

* Reckitt is the trading name of the Reckitt Benckiser group of companies

#Reckitt

About Feeding Hong Kong

Feeding Hong Kong is a Hong Kong registered charity with a mission to fight hunger in the city and reduce the amount of quality food being sent to our landfills. Each day, we collect high quality food that would otherwise be thrown away, sort and store it, and then redistribute it to a network of welfare organisations, who in turn feed thousands of people in need. Feeding Hong Kong also works to raise awareness about poverty and food insecurity in Hong Kong and promote healthy eating and nutritional education to the most vulnerable groups in our community. We are an accredited member of the Global Food Bank Network, an international organisation dedicated to creating and strengthening food banks and national food bank networks.

For further information please visit:

About Hong Kong Red Cross

Established in 1950, the Hong Kong Red Cross is dedicated to promoting and practicing humanitarianism. Over the past 70 years, we have been working together to provide a wide range of humanitarian services from local disaster relief, tracing service and blood donation services to hospital school services, to those in need according to the change and development of the society.

Over the past two years, the community has been affected by the epidemic and we are particularly thankful for the support from the society. In times of good and bad, we join hands with the Hong Kong people to face difficulties. In 2022, the Hong Kong Red Cross continues to provide appropriate services to those in need in the 5th wave of pandemic and always stood by humanity, responding to various needs of the community in a humanitarian spirit.

For more information, please visit:

About Hong Kong Council of Early Childhood Education and Services

The Hong Kong Council of Early Childhood Education and Services (CECES) was founded in 1982 as a charitable NGO under the Hong Kong government Inland Revenue’s Section 88.

Our mission is to provide informal, out-of-school learning with the aim of nurturing children’s many talents through hands on experiential learning. Our education programmes aim to promote harmonious and respectful coexistence amongst people of different cultures, religions and economic backgrounds.

For more information, please visit:

About Evangelical Lutheran Church Social Service – Hong Kong

Evangelical Lutheran Church Social Service – Hong Kong (ELCSS-HK), one of the largest NGOs in Hong Kong, was established in 1976. With an innovative, caring and people-oriented approach, we provide integrated services to the grassroots and the disadvantaged. Currently, we have more than 50 service units and 30 special projects across the territory. We serve over million headcounts per year via services ranging from small children, elders, families, and schools to the employment sector.

For further information please visit:

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

Bitget Launches Automated Bot Trading For Its Users

Bitget partners with CryptoHero to provide users access to automated crypto trading bots

SINGAPORE – Media OutReach – 14 April 2022 – Leading global derivatives exchange – Bitget announces the introduction of automated trading bots on its platform, via a partnership with CryptoHero. The automated bot trading service is now available to all users on the Bitget platform.

Bitget is one of the top crypto derivatives exchanges

The automated bots technology is provided by Novum Global Ventures, the company behind CryptoHero (www.cryptohero.ai), an award-winning crypto trading bot platform. CryptoHero provides various trading strategies through a simplified user-interface, while its Bots Marketplace also allows new users to familiarise with automated trading by using proven crypto bots created by experienced traders.

Bitget is the chosen platform when it comes to derivatives trading, for more than two million crypto traders across 50 countries. As Bitget continues to grow its global footprint, increasing efforts are made to further improve its service offerings and provide a wide variety of trading solutions for its growing community. Known for its flagship products such as: One-Click Copy Trade, USDT-Margined Futures, Coin-Margined Futures and Launchpad, Bitget has garnered a significant following since its launch and will continue to strengthen its offerings via partnerships with like-minded partners.

“The trading experience of our Bitget community is of utmost importance to us. We are continuously looking to enhance the overall trading experience for our users while helping them achieve passive income on our platform. We are extremely thrilled to be partnering with CryptoHero to introduce an automated bot trading option on Bitget, allowing our users to make use of every opportunity to enhance their investment portfolio,” commented Sandra Lou, CEO of Bitget.

“Our user-friendly and award-winning CryptoHero platform allows users access to the world of automated crypto trading. Very often, a trader will miss market opportunities during rest periods. An automated crypto bot will fill in the gap and take advantage of such opportunities,” said Christopher Low, CEO and founder of CryptoHero.

About Bitget

Bitget is a leading global cryptocurrency exchange established in July 2018. Serving more than 2 million customers in 50 countries, Bitget aims to contribute to the adoption of decentralised finance on a global scale. Since its launch, Bitget has become the world’s largest crypto copy trading platform, through the gaining popularity of its flagship One-Click Copy Trade products. According to CoinmarketCap, Bitget was ranked third globally, in terms of its derivatives volume as of January 2022. Adhering closely to our mission of Better Trading Better Life, Bitget is committed to providing comprehensive and secure trading solutions to our users around the world. In September 2021, Bitget announced its sponsorship of world-renowned football team Juventus as its and soon after. Partnerships with leading Russian eSports organisation Team Spirit and Turkey’s leading and long-standing football club, Galatasaray were also announced in early 2022.

For more details about Bitget, please visit .

Instagram: bitget_official ()
Facebook: @BitgetGlobal ()
Telegram:
Twitter: @bitgetglobal ()

About Novum Global Ventures

Novum Global Ventures is a company headquartered in Singapore with offices throughout Southeast Asia. It invests in innovative blockchain startups and is behind the highly successful CryptoHero – a crypto trading bot software. CryptoHero was launched in early 2021 and has gained rave reviews among its users all over the world. Its founding team consists of experienced fund managers who operates digital asset funds.

For more details about CryptoHero, please visit
#Bitget

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

CUHK Business School Research Reveals the Interplay of Competition and Cooperation in the Workplace

HONG KONG SAR – Media OutReach – 14 April 2022 – Inspired by this the rise in highly competitive work ethics in modern China, a group of researchers choose to examine the effectiveness of competition as a motivational tool, especially as it relates to how well people who are driven to compete with each other are also able to cooperate in achieving organisational goals. Their results suggest that the more competitive people become, the less likely that they are willing to cooperate with others.

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(Source: iStock)


The study The Cooperative Consequences of Contests was co-written by Jaimie Lien, Assistant Professor of Business Economics in the Department of Decision Sciences and Managerial Economics at The Chinese University of Hong Kong (CUHK) Business School, Prof. Jie Zheng at Tsinghua University and PhD student Yilin Zhuo at the University of California, Los Angeles.

Neijuan (roughly translates to involution – an anthropological term that can be understood as the opposite of evolution) is the buzzword trending in mainland China. This concept generally refers to the competitive circumstances in academic or workplace settings in China where students and workers are pressured to overwork due to the raised standards caused by their even more hardworking peers. A popular Chinese blogger describes neijuan as an “internal bottomless vicious cycle of competition”, cited an article on What’s On Weibo.

Interestingly, Prof. Lien and her co-authors found evidence in their study that is parallel to the concept of neijuan. The researchers placed their study participants in “social dilemma” games, which test how people behave when they are faced with choices that either promote individual profit or the interests of a group, with different reward schemes. In between the social dilemma games, participants had to engage in competition with one another over real rewards. They found that participants did their best to outdo others even when rewards were structured in a way that allow them to be shared among the group.

The Impact of Different Reward Schemes

The researchers recruited over 100 participants from Tsinghua University. The participants paired up randomly to take part in social dilemma games, before and after engaging in different forms of competitive reward schemes for a laborious task.

The research team compared the participants’ willingness to cooperate before and after competition was introduced. They found an overall decline in their willingness to cooperate across the social dilemma situations, which were designed to measure cooperative and trusting behaviour.

Importantly, the researchers tested whether different reward schemes would induce more or less competition among the participants. Apart from the baseline setup in which participants were paid a fixed reward for each task completed, they introduced three other reward systems. The first system was a pure winner-takes-all scenario, in which the participant who completed more tasks than their partner received the entire reward, while the other participant got nothing.

The second reward setting is called the “Tullock contest”, in which the winner is randomly picked. The participant who completed more tasks would have a higher chance of getting picked as the winner, although the win is not guaranteed. To put it another way, the best performer has the best chance to win the whole reward, but the scheme is still winner-takes-all.

The third reward scenario is known as the “proportional prize contest”, in which each participant is rewarded according to the level of effort they put into the task, as compared to their partner. Unlike the other two all-or-nothing mechanisms, sharing the prize fairly is possible in this setting, if both participants perform at similar levels. Surprisingly, this seemingly fairer arrangement led to less cooperation among participants in the social dilemma contexts. According to the results, the participants’ tendency to cooperate fell the most in the classic Prisoner’s Dilemma game, which tests individual interest against joint effort toward the common good, under this reward scheme, from 58 percent to 19 percent.

“This result is quite surprising and somewhat counterintuitive in that people actually reacted in a more competitive manner when faced with a relatively less competitive payment scheme. When they were presented with the opportunity to split the prize fairly, they did not seem to take it well once cooperative opportunities later arose. The results seem to suggest that people were more accepting of winner-takes-all situations that we originally thought.”

The Downside of Ambition

Prof. Lien explains that when the reward scheme was based on each participant’s effort relative to their partner’s, it is theoretically possible for the prize to be shared evenly, but participants may not necessarily realise that this is possible. Instead, the participants became more selfish under this framework because they believe that they can win a larger share of the prize by working harder. By contrast, the participants were more willing to cooperate in the two other winner-takes-all scenarios since sharing of the reward prize is not even possible in those scenarios.

The study showed that individuals’ efforts and subsequent tendencies in social situations are highly responsive to the competitive environments they faced. Most importantly, the researchers wanted to highlight that the participants in the study remained competitive even when they did not interact with the same opponents in different games. It means that the competitive situation can shape people’s general attitude by steering them away from cooperation. In addition, the study finds that the participants who claimed themselves to be highly ambitious in winning and worked harder to win, behaved more selfishly and were less willing to cooperate in social dilemma games.

“It has a negative implication for society because the social dilemma games represent situations in which individuals can potentially cooperate with one another to create more resources for everyone, but those who want to win badly tend not to do that,” Prof. Lien says. “Also, an overemphasis on competition can affect people’s social interactions in the long run, such as having less trust towards strangers and less willingness to contribute to public goods.”

In the workplace context, Prof. Lien adds that the constant competition without carefully designed reward schemes could lower people’s ability for teamwork and cooperation. In most modern organisations, competition is treated almost as an essential component of the hierarchy, for example, with workers competing for limited promotions. Trying to find the best reward scheme from a behavioural point of view becomes highly challenging, as each organisation would have different needs, in terms of balancing the incentives for performance and maintaining a cooperative workplace environment.

The study points out that not only does pitting workers against each other in the workplace context result in negative effects on cooperation, but this also extends to “softer” forms of competition which (perhaps counterintuitively) may even make things worse. As the study results point out that people behave differently under different reward schemes, future work can focus on finding the ideal compensation schemes that could bring out the best features in people when competition is unavoidable.

Reference:
Jaimie W. Lien, Jie Zheng and Yilin Zhuo, The Cooperative Consequences of Contests (May 21, 2021). Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3850570

This article was first published in the China Business Knowledge (CBK) website by CUHK Business School: https://bit.ly/3wPxOqD

About CUHK Business School

CUHK Business School comprises two schools – Accountancy and Hotel and Tourism Management – and four departments – Decision Sciences and Managerial Economics, Finance, Management and Marketing. Established in Hong Kong in 1963, it is the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, CUHK Business School offers 10 undergraduate programmes and 20 graduate programmes including MBA, EMBA, Master, MSc, MPhil and Ph.D. The School currently has more than 4,500 undergraduate and postgraduate students from 20+ countries/regions.

In the Financial Times Executive MBA ranking 2021, CUHK EMBA is ranked 19th in the world. In FT‘s 2022 Global MBA Ranking, CUHK MBA is ranked 50th. CUHK Business School has the largest number of business alumni (40,000+) among universities/business schools in Hong Kong – many of whom are key business leaders.

More information is available at or by connecting with CUHK Business School on:
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WeChat: CUHKBusinessSchool

#CUHKBusinessSchool

Bentec Digital Solutions Introduces Their Own Official Brand, APEIRON

SINGAPORE – Media OutReach – 14 April 2022 – Bentec Digital Solutions is pleased to launch their very own official brand named APEIRON. This official brand seeks to be a one-stop solution for anyone looking for data centre infrastructure solutions in Singapore.

Prior to the launch of their official brand, the company had to outsource their products from external local and international suppliers. In order to provide their clients with a clarity that the products purchased are all under the same brand, Bentec Digital Solutions created their own official brand, APEIRON.

There is a potential gap in the market for the lack of value-added services offered by product manufacturers. Recognising this, Bentec offers follow-up maintenance contracts that clients can opt to take up, which would allow business owners to focus on their core business whilst Bentec handles the maintenance of all APEIRON products. The company also offers installation and configuration services, as well as Factory Acceptance Tests (FAT) and User Acceptance Tests (UAT) for all clients who purchase APEIRON products. The comprehensive value-added services offered by the company allows for customers to save time and resources with a hassle-free experience.

With a tagline of “quality is not an option”, APEIRON has an aim to provide high-quality products alongside value-added services. The brand currently offers products such as server enclosures, power distribution units, in-row and in-rack cooling solutions, aisle containment and more. The company is also looking to expand their selection of products in the near future.

With over 16 years in business, Bentec Digital Solutions is an IT solutions company in Singapore that offers a range of data centre infrastructure and digital solutions, such as server room cooling solutions, learning management systems and more. With the launch of their very own official brand and the company’s global offices in the US, Malaysia and Singapore, Bentec strives to deliver reliable products, services and solutions for all businesses.

For more information, please visit: https://bentec.digital/.

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

Abba To Launch Home Cleaning Services Amid Strong Local Demand

SINGAPORE – Media OutReach – 14 April 2022 – Abba Maintenance Services announced that it will be expanding its suite of cleaning services to include home cleaning, amid rising demand from the Singapore market. Originally a professional office and commercial cleaning company, the launch of Abba’s home cleaning services means that its services will now cover all types of facilities from office and commercial to residential spaces.

Abba’s home cleaning packages will roll out between May and June 2022, including services like vacuuming and mopping of floors, dusting of surfaces, ironing and folding of clothes, dishwashing, home disinfection, window cleaning, and cleaning of bedrooms, bathrooms and kitchen. Like its office and commercial cleaning services, customers will be able to customise their cleaning package and choose from the list of services offered based on what they need. For example, a customer can start with a two-bedroom and two-bathroom package and add ad-hoc services like kitchen cleaning or ironing and folding clothes.

The move to expand its suite of cleaning services was made to address the growing market demand for home cleaning over the past few years, accelerated by the COVID-19 pandemic when people adopted work-from-home or hybrid working arrangements. According to Google Trends and Google search volume, the demand for home cleaning services has spiked sharply over the past few years compared to commercial cleaning services. Since the start of the pandemic, Abba has seen a 30 per cent increase in demand for move-in, move-out or post tenancy cleaning and a 50 per cent increase in demand for weekly or fortnightly home cleaning services. Other cleaning firms have also reported a 20 to 50 per cent surge in demand for part-time home cleaning services.

Over the years, Abba has established itself as the leading professional cleaning company in Singapore by providing sanitisation and disinfection services, upholstery cleaning, carpet cleaning, and more. It has worked with numerous reputable clients such as MindChamps, TenX, and the Singapore Cancer Society. With the launch of its new home cleaning service, Abba hopes to continue providing its customers with top-quality services from its team of well-trained and experienced cleaners.

For more info, please visit https://officecleanings.com.sg/, and for additional details about the home cleaning services offered, do visit https://homecleaningsg.com/.

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

More Employers Are Looking to Hire Candidates with Broader Skillsets to Take Up Hybrid Roles

  • More employers (79%) are looking to hire candidates with a broader set of skills to take up hybrid roles in 2022 as compared to 71% in 2020.
  • 80% of employers agree that there is a need for employees in hybrid roles to meet business objectives in the next two years.
  • Top Critical Core Skills employers are looking to hire for hybrid roles are Customer Orientation, Transdisciplinary Thinking, and Global Perspective. Additionally, the top technology skills are Web/ App Design and Development, AI/ Machine Learning, and Data Analysis.

SINGAPORE – Media OutReach – 14 April 2022 – Businesses today are reassessing their workforce productivity as more employers (79%) are looking to hire candidates with a broader set of skills to take up hybrid roles in 2022. This is in comparison to 71% of employers in 2020. Hybrid roles continue to be instrumental as 80% of employers reveal that there is a need for employees in hybrid roles to meet business objectives in the next two years.

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These are some key findings from NTUC LearningHub’s recently launched Emerging Jobs and Skills report, where over 650 working professionals in Singapore were surveyed in December 2021. The respondents include both employers and employees from across the six main industry clusters in Singapore, to uncover a dual perspective about the current job market, emerging jobs and skills, as well as the training landscape.

“Hybrid roles can be defined as roles that require a mix of different skillsets to meet workplace demands. With the emergence of new technologies bringing about digital disruption at the workplace, tasks and jobs continue to be redesigned as workers take on higher-value chain roles alongside digitalisation. Having a broader skillset comprising of Critical Core Skills, or adaptive skills, and technology skills, has been therefore deemed crucial for employees to thrive in job roles of the future,” explains NTUC LearningHub’s Director of Infocomm Technology, Anthony Chew.

Across industry clusters, the top Critical Core Skills employers are looking to hire for hybrid roles are Customer Orientation, Transdisciplinary Thinking, and Global Perspective. On the other hand, the top technology skills in-demand for hybrid roles are Web/ App Design and Development, AI/ Machine Learning, and Data Analysis.

The report also reveals that employers in the modern services cluster (87%) – which includes industries such as professional services, InfoComm technology and media, and financial services — are the most inclined to hire candidates with broader skillsets to take up hybrid roles. This is followed by the essential domestic services cluster (83%), which includes healthcare and education.

Commenting on the report findings, Anthony adds, “In the face of an evolving economy and a dynamic future, employees who can take on hybrid roles have become increasingly essential to business viability. To enhance their work prospects and to stay competitive, workers must acquire up-to-date knowledge and new competencies to complement their existing skillsets. This report serves as a guide for workers to be cognizant of the top skills sought after by employers so that they can start mapping their learning journey towards lifelong employability.”

To download the Emerging Jobs and Skills Report, visit www.ntuclearninghub.com/emerging-jobs-and-skills-2022. To find out more about the courses, training and grants, contact NTUC LearningHub at www.ntuclearninghub.com/.

About NTUC LearningHub

NTUC LearningHub is the leading Continuing Education and Training provider in Singapore which aims to transform the lifelong employability of working people. Since our corporatisation in 2004, we have been working with employers and individual learners to provide learning solutions in areas such as Cloud, Infocomm Technology, Healthcare, Employability & Literacy, Business Excellence, Workplace Safety & Health, Security, Human Resources and Foreign Worker Training.

To date, NTUC LearningHub has helped over 26,000 organisations and achieved close to 2.6 million training places across more than 2,900 courses with a pool of about 900 certified trainers. As a Total Learning Solutions provider to organisations, we also forge partnerships to offer a wide range of relevant end-to-end training. Besides in-person training, we also offer instructor-led virtual live classes (VLCs) and asynchronous online learning. The NTUC LearningHub Learning eXperience Platform (LXP) — a one-stop online learning mobile application — offers timely, bite-sized and quality content for learners to upskill anytime and anywhere. Beyond learning, LXP also serves as a platform for jobs and skills development for both workers and companies.

For more information, visit .

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