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Having obtained a Singapore asset management license, Victory Securities is actively expanding its global wealth management business

HONG KONG SAR – Media OutReach – 19 October 2022 – On 10 October 2022, Victory Nest Asset Management Pte. Ltd., a subsidiary of Victory Securities, obtained the asset management license issued by MAS, the financial regulatory body of the Singapore Government. It is a new chapter of Victory Securities’ expansion in global wealth management.

Victory Global Asset Management Services can now provide customized wealth inheritance and asset management solutions for middle and high net worth individuals and families through its Singapore company. Victory Securities has years of experience in wealth management, trust services, real estate investment and corporate services. With the competitive advantages brought by its Singapore company and cooperation with local banks, it enabled Victory Securities to discover regional investment opportunities and provide professional wealth management services tailored to a wide range of customer needs.

Adam Zhou, a spokesperson for Victory Nest Asset Management Pte. Ltd., said, “To help customers manage family wealth inheritance, integrate assets and transfer risks, we provide them with highly customizable services, including global asset allocation, real estate investment, high-end insurance, family trust arrangements and tax planning, all for a brighter future for customers.

Data show that Victory Securities’ Asset Under Management (AUM) has grown every year, with a growth rate of over 41% in a period of four years. On the growth trend, Zhou commented, “Under the premise of controlling risks and rate of return, our investment and research team keeps abreast of market trends and dynamically adjusts clients’ investment portfolio to take advantage of market opportunities.

Recently, “The Deloitte International Wealth Management Centre Ranking 2018” listed the competitive advantages and disadvantages of the asset management and wealth management industries in major financial centers around the world. There are four competitiveness indicators, namely the business environment (hardware facilities, the attractiveness of tourist destination, capital markets, the center of the fintech industry ), operational capability (human capital, quality of wealth management services, efficiency of wealth management institutions, maturity of digital capabilities), stability (stability of monetary policy, stability of the financial system, political stability), and taxation and regulation (protection of clients’ capital rights). Based on the four indicators above, Victory Securities compares wealth management services in Singapore and Hong Kong for investors’ reference.

Under the development blueprint of “The Belt and Road Initiative” by the mainland China, Hong Kong will continue to function as a financial center, capital management platform, risk management center and service provider for the offshore renminbi market. Major medium to large financial institutions have a branch in Hong Kong. Adam Zhou, the spokesperson for Victory Singapore Asset Management Company, said: “Thanks to the rapid economic development, there are lots of high-net-worth individuals in the mainland China. After the completion of the Greater Bay Area bridge, Guangdong, Hong Kong and Macau are well connected, with a total population of 70 million and a total GDP of 1.5 trillion US dollars. Boasting an excellent environment and infrastructure for the development of new fintech companies, attractive financial platform, green finance and other investment projects, Hong Kong plays an important role in the global IPO market.

On the other hand, Singapore ranks third in the world in foreign exchange trading volume. The Singapore government is encouraging financial institutions to make use of Application Programming Interface (API) so as to increase connectivity and financial technology innovation. Adam Zhou explained with a few more examples, “To work with financial institutions in the development of general tools, such as electronic payment, digital ID cards and electronic KYC (know-your-client) authentication. Singapore is also investing in R&D on developing new solutions, including providing solutions based on Distributed Ledger Technology (DLT) or blockchain technology for cross-bank payments and accounts receivable financing.

Tax rates and foreign exchange systems in Hong Kong and Singapore

Hong Kong Singapore
Tax rate A low-tax environment: business income tax rate at 16.5%. Imputation tax system: dividends paid to shareholders are not taxable, and capital tax and business tax are not levied. A low-tax environment: business income tax rate at 17%. Imputation tax system: dividends paid to shareholders are not taxable, capital tax is not levied, and GST (goods and service tax) is at 7%.
Foreign exchange No foreign exchange controls. Total freedom of inward and outward remittance of funds. No strict controls over inward and outward remittance of funds.
Exchange rate A linked exchange rate system: the Hong Kong dollar is pegged to the US dollar at an exchange rate between 7.75 and 7.85 Hong Kong dollars to 1 US dollar. A floating exchange rate system: no strict controls over foreign exchange and capital influx or outflux

For more information about the investment opportunities in global stock markets, please visit Victory Securities’ website at www.victorysec.com.hk.

Disclaimer

This content should not be regarded as a basis for an offer, solicitation, an invitation, recommendation to buy or sell any investment product or investment decision, nor should it be construed as professional advice. Investment involves risks. Before making any investment decisions, investors should fully understand the risks and the characteristics and consequences of relevant laws, taxation and accounting, and decide whether it is suitable for their personal financial situation and investment objectives based on their personal position, and whether they can bear the relevant risks. Professional advice should be sought if necessary.

Hashtag: #VictorySecurities

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

BIB Meta NFT star card auction launches, and the Web3 ecology of the world’s first centralized exchange is opening

TAIPEI, TAIWAN – Media OutReach – 19 October 2022 – BIB Meta’s ecological development is extremely swift. With the end of the test network activity, BIB Meta NFT star card auction will open at 14:00 (UTC+8) on October 24th. The auction target is 10 three-star S-class star cards, which are divided into three rounds.

BIMETA Star Card NFT is an NFT issued by BIMETA, the world’s first exchange Web3 Ecology, in combination with 160 selected stars of the 2022 World Cup. It issues public chain BSC with the agreement type ERC721A, and the royalty is set at 7.5%. Stars are divided into four grades: S, A, B and C, which contain 10, 30, 50 and 70 players respectively. Each star will issue 150 1-star star cards. The total number of cards is 24,010 (including 10 S-class star cards for auction). The card is cast in the form of destroying BIB Token, and its platform income such as transaction royalties will be made public on the chain and given back to community users. NFT has different stars and rarity, which is both artistic and collectible.

Taking platform currency BIB as value support, leading global NFT value innovation

BIB Meta Star Card NFT is the first NFT in the world to use exchange platform tokens as value support. Users can use BIB Mint NFT to participate in various games within BIB Meta ecosystem. The combination of BIB and BIB Meta Web3 ecology gives NFT more value than itself and provides liquidity for NFT. Therefore, the BIB token can be regarded as the second-class token of the star card NFT. In addition, the innovation of BIB Meta NFT is mainly reflected in the following three points:

1. Synthetic Rising Star: Five NFT cards with the same star and rating can be synthesized into a rising star. The higher the star and rating, the higher the value.

2. Pledge NFT, mining BIB: As one of the innovative values of NFT, the higher the star level and rating, the higher the weight of pledged mining income;

3. Community nodes: The most comprehensive and important core function of BIB Meta. Users can pledge Samsung or four-star NFT star cards, and entrust a certain amount of BIB Token as the node start-up fund to create community nodes and enhance the mining weight. The top 30 BIB nodes entrusted by users and other community nodes automatically become super nodes, and super nodes are the biggest beneficiaries in the BIB Meta ecosystem.

It is worth mentioning that BIB Meta NFT, as a node voucher, can establish an innovative model of community nodes. It is a set of tools established by BIB Meta for KOL and community influencers to maintain fans and traffic. Through the platform token BIB mining, the interests of KOL and fans are closely combined through platform tokens.

The auction of ecological NFT, which will open on October 24th, is the first opportunity for users to take advantage of the BIB Meta ecology. Seizing the NFT star card auctioned means that users can get the first mover advantage in this ecology. Users can pledge NFT first, synthesize higher-star NFT, get the proceeds from pledge mining, and become a node to get dividends.

Participate in NFT auction, seize the deposit, and create community nodes in advance

In the upcoming NFT auction, the official will launch 10 3-star S-level star cards. Users who obtain NFT star card through auction can directly sell or pledge NFT to seize the advantage of the first mine.

As the income of pledge mining depends on the weight of NFT in the total pledge NFT, at the beginning of the auction, the pre-sale and public sale have not yet started, and the income of the first mine is considerable.

Meanwhile, three-star S-level NFT holders can create community nodes in advance and absorb BIB entrustment from users and other community nodes. Because it is difficult to synthesize high-star and high-rarity NFT in the early stage, the probability of auction holders becoming super nodes is relatively high.

More ecological layout

In addition to the above ecological functions, BIB Meta also designed a series of GameFi around NFT. For example, the decentralized tournament quiz in conjunction with the World Cup, the “penalty contest” game, and the team competition based on different nodes composed of NFT.

In the future, BIB Meta will derive BIB Meta Dao system, and cooperate with BIB exchange to vote for money and build community ecology; Moreover, NFT MetaFi system will be introduced to make NFT and NFT community nodes produce ecological effects in NFT lending, GameFi and other fields through BIB Token.

Hashtag: #BIBMeta

Singapore content celebrated at MIPCOM 2022 with first look at highly-anticipated upcoming regional co-productions

CANNES, FRANCE – Media OutReach – 19 October 2022 – International commissioners and producers were treated to a first look of an exciting slate of upcoming regional co-productions from Singapore. Responding to a global demand for Asian content, the successful outing co-led by Singapore’s Infocomm Media Development Authority (IMDA) and the Association of Independent Producers (AIPRO) marks Singapore’s 22nd expedition to MIPCOM.

The delegation of 17 Singapore media companies showcased uniquely Asian perspectives to a global audience through upcoming regional co-productions. Presenting over 460 hours of compelling stories from Singapore and Asia across more than 60 titles, the outing also highlighted the city state’s strength in supporting quality Singapore content that can stand proudly on the world stage, and the power of Asian storytelling.

Of the content offered, The Moving Visuals Co.’s “We Don’t Play Dolly”, which explores how India’s blind women fight to find a place in the male-dominated world of cricket, has been nominated at the MIPCOM Cannes Diversify TV Awards, which spotlights positive programming and diversity onscreen.

Other stellar upcoming titles unveiled at the Singapore Party at MIPCOM 2022 include:

SCRAWL ANIMATION X CYBER GROUP STUDIOS PRESENTS ALEX PLAYER, A REAL-TIME ANIMATED SERIES CREATED USING UNREAL ENGINE

Scrawl Animation Pte Ltd’s “Alex Player” is an exciting, animated action-adventure tween series starring Alex, a brilliant 12-year-old video gamer who has to toggle between life in school and trying to win the national e-sports interschool championship. The series utilises hybrid, 2D digital production with CGI animation, and will be Singapore’s first long-term animation series produced with the real-time pipeline using Unreal Engine. The co-production between Scrawl Animation Pte Ltd (Singapore), Cyber Group Studios (France) and Graphilm S.r.l (Italy) sees pre-production taking place in France and Italy, with asset pre-builds and Unreal pipeline production happening in Singapore.

MOCHA CHAI LABORATORIES X CJ ENM HK PRESENTS VENUS ON MARS

Mocha Chai Laboratories Pte Ltd’s Venus on Mars” is a romantic comedy about an undergraduate who is accidentally transported to a parallel universe called “M-Earth”, where only men live. As she struggles to find her way back to earth, she navigates issues regarding gender equality, feminism, relationships with friends and family, and falling in love. Starring Taiwanese actors Ivy Shao and Tsao Yu Ning, with special appearance by former Boyband SpeXial member Wes Lo, veteran actor Renzo Liu and Taiwan-based Singapore actors Gina Lim and Wong Jing Lun, the series is produced by media veteran Michelle Chang, and directed by one of Singapore’s award-winning filmmakers, Chai Yee Wei, with support from CJ ENM Korea as script consultants.

INFINITE STUDIOS X CATCHPLAY PRESENTS LOSMEN MELATI

Infinite Studios and CATCHPLAY have partnered to produce “Losmen Melati”, a limited, supernatural horror series about a secluded and enigmatic Dutch colonial plantation turned guest house, run by its mystifying owner, Melati, who lures in unsuspecting travellers. Here, they are confronted by their worst nightmares, never to be seen again. In the run up to the premiere of the limited series, a 60-second teaser was aired exclusively at MIPCOM 2022; the original IP will be distributed by CATCHPLAY in Taiwan and Indonesia, while Clover Films will be undertaking distribution for the rest of Southeast Asia.

SINGAPORE MEDIA FESTIVAL 2022

IMDA also announced the ninth edition of its flagship annual event, the Singapore Media Festival (SMF), by unveiling a teaser video created for the festival at the Singapore Party event at MIPCOM 2022. This year, SMF will return as a physical event with an expected turnout of over 30,000 and will be held from 24 November to 11 December 2022 in Singapore, with the theme “Celebrating Asia’s Stories with the World”. As Asia’s leading international media event, the festival will see programmes, workshops and initiatives across film, television, and digital and immersive media, offered by SMF partners Asia TV Forum & Market (ATF), Screen Singapore, Singapore International Film Festival (SGIFF), Singapore Comic Con (SGCC) and CreatorWorld.

The festival has established itself as a must-attend event in this part of the world, and this year, the industry can expect fresh offerings that showcase and recognise the best of Asian storytelling, as well as a coming together of influential, promising and prominent industry talent, showrunners and companies from around the region to network, connect and collaborate. Attendees can also discover new, original concepts and ideas from over 60 pitches, including two new ATF pitches hosted by Vidio and Warner Bros. Discovery targeting the Indonesia and Thailand markets respectively. A diverse offering of content will also be presented to thousands of commissioners, distributors, filmmakers, financiers, producers, and showrunners from over 60 countries to connect, network, and foster new collaborations and co-productions.

In 2021, the festival welcomed the attendance of over 18,000 delegates and festival attendees from over 60 countries. Over the past eight editions of the festival, more than US$1.89 billion worth of deals and partnerships have been made.

IMDA AND AIPRO: TELLING ASIA’S STORIES TOGETHER AT MIPCOM 2022

Mr Lew Chuen Hong, Chief Executive, Infocomm Media Development Authority of Singapore, said, “MIPCOM 2022 has been an incredible showcase for Singapore’s media companies and creative talent. There are immense possibilities for our vibrant media industry as we continue to pave the way for local producers to expand their horizons beyond our shores. We are pleased to announce that the ninth Singapore Media Festival (SMF) will be returning to full physical format this year. With the commissioning and acquisition of quality made-with Singapore content by global partners, Singapore is well-poised to be at the centre of deal-making for the region.”

Ms Khim Loh, President of AIPRO, said, “The milestone event has been a stronghold in connecting international players with Singaporean talents and MIPCOM 2022 has once again demonstrated its strengths in creating additional opportunities and partnerships for media companies and creators in Singapore.”

Resources

  • Annex A: Quotes from Partners
  • Annex B: Information on the Singapore Media Festival and Partner Events

Annex A Quotes from Partners

Scrawl Animation x Cyber Group Studios

Alex Player blurs the lines between the real and game worlds, as our young heroes juggle school life with dreams of becoming e-sports champions. We’re thrilled to partner with Cyber Group Studio’s creative and technical teams in re-imagining the age-old coming-of-age tale while bringing the world of video games to life with animation produced using the Unreal game engine. The support from IMDA enables us to leverage this strategic partnership to create a unique real-time production ecosystem in Singapore,” says Seng Choon Meng, CEO of Scrawl Animation.

“Cyber Group Studios is a forerunner in animation production using the Unreal engine, having launched the 100% real-time animation series Giganto Club which is a digital spin-off from the hit series Gigantosarus. The Alex Player co-production supports Cyber Group Studios and Scrawl Animation’s strategy to develop a global real-time pipeline, exchange storytelling techniques using the Unreal pipeline, and extend creative boundaries in efficient ways,“ says Dominique Bourse, Chief Operating Officer of Cyber Group Studios.

Mocha Chai Laboratories

“Story always comes first and I am clear about why I want to tell a story. Venus on Mars was made because I feel that there is a lack of stories told from the female perspective, especially one where our heroine navigates a world of only men. The show’s themes – Curiousity and Courage – are values I embrace as a showrunner and values that underpin our brand of content. Mocha Chai Laboratories is fortunate to have partners that are looking to us for original content. We are glad to have the support of CJ ENM HK and IMDA, and streaming platforms we are developing new content with for Asia, all of whom appreciate our creative vision and work. Ultimately, making stories requires many complicated conversations and the willingness and openness to embrace cross-cultural, diverse viewpoints. It is a delicate balance, but with the right collaborators, the challenges make every project and endeavour worthwhile.”

Michelle Chang, Co-Founder, Mocha Chai Laboratories

Infinite Studios x CATCHPLAY

“Infinite Studios and CATCHPLAY have partnered together to produce the supernatural horror series titled Losmen Melati. This limited series will be shown on the OTT streaming platform CATCHPLAY+. The Infocomm Media Development Authority (IMDA) has been instrumental in supporting the production between Infinite Studios and CATCHPLAY through the Capability Partnership Programme (CPP). With the support of the IMDA through the CPP, Infinite Studios has not only been able to grow as a company but has also been able to bring more Asian content to international audiences. This has also provided more opportunities to fuel the passion of Singaporean creatives, such as writers, producers, post producers, editors and many more. The CPP has allowed us to connect local content creators with regional and global digital platforms, effectively building bridges for Singapore to the infinite opportunities in the vast media ecosystem.”

Infinite Studios

“CATCHPLAY is thrilled to bring Losmen Melati, the exciting collaboration with Infinite Studios, to audiences on CATCHPLAY+ in the first quarter of 2023. This project is made possible with the support of the Infocomm Media Development Authority (IMDA), which brings CATCHPLAY together with Infinite Studios for the production. IMDA has been very supportive about promoting co-productions and to bridge creatives across the region, enabling us to contribute to the content industry in Southeast Asia with greater depth and width. CATCHPLAY looks forward to joining forces with IMDA and embarking on more international co-productions in the future with the goal of creating high quality content that appeals to both local and international audiences alike.”

CATCHPLAY

Annex B Information on the Singapore Media Festival and Partner Events

SINGAPORE MEDIA FESTIVAL 2022
24 November to 11 December 2022
#sgmediafest

The Singapore Media Festival, hosted by the Infocomm Media Development Authority, is one of Asia’s leading international media events, where the industry meets to discover the latest trends, talents and content in Asia. Themed “Celebrating Asia’s Stories with the World”, the ninth edition will take place from 24 November to 11 December 2022. The Singapore Media Festival brings together the Asia TV Forum & Market (ATF), Singapore International Film Festival (SIFF), Singapore Comic Con (SGCC) and CreatorWorld. For more information, please visit https://www.imda.gov.sg/news-and-events/our-signature-events/Singapore-Media-Festival.

Partner Events

Asia TV Forum & Market (ATF) 2022
7 – 9 December 2022

Asia TV Forum & Market (ATF) is the region’s leading entertainment content market and conference, and the proven industry platform to acquire knowledge, network, buy, sell, finance, distribute, and co-produce across all platforms. It is the premier stage in Asia to engage with the entertainment industry’s top players from around the world where the best minds meet and the future of Asia’s content is shaped.

The 2022 edition will feature talent and content from 60 countries and regions, 2 new pitches in partnership with Vidio and Warner Bros. Discovery, and discussions featuring decision makers and commissioners from leading platforms and studios.

For more information, please visit https://www.asiatvforum.com.

Singapore International Film Festival (SGIFF)
24 November – 4 December 2022

Founded in 1987, the Singapore International Film Festival (SGIFF) is the largest and longest-running film event in Singapore. It has become an iconic event in the local arts calendar that is widely attended by key figures in the regional and international film community, and is known for its dynamic programming and focus on ground-breaking Asian cinema for Singapore and the region. Committed to nurturing and championing local and regional talent, its competition component, the Silver Screen Awards, brings together emerging filmmakers from Asia and Southeast Asia while recognising cinema excellence of independent filmmakers whose works have generated international festival buzz. The Festival also serves as a catalyst for igniting public interest, artistic dialogue, and cultural exchanges in the art of filmmaking through an ecosystem of mentorship programmes, masterclasses and dialogues with filmmakers. SGIFF is organised by the Singapore International Film Festival Ltd., a non-profit organisation with Institution of Public Character (IPC) status.

This year’s SGIFF will continue its storied legacy advocating for change through a robust line-up of films, talks, programmes, and events that challenge convention and provoke conversation.

The festival’s competition component, the Silver Screen Awards, will also continue to uncover new filmmaking talents as part of its Asian Feature Film Competition and Southeast Asian Short Film Competition.

For more information, please visit www.sgiff.com.

Singapore Comic Con (SGCC)
10 – 11 December 2022

Singapore Comic Con (SGCC), previously known as Singapore Toy, Game & Convention, is Southeast Asia’s ultimate celebration of the best Western and Asian pop culture.

This year, SGCC’s Work In Progress (W.I.P.) Programme that brings content creators, publishers, media companies, and consumers together will be expanded with the addition of new programmes such as the Comic Submission, where creators can get feedback on their works from publishers and media companies. Partners for The W.I.P. Programme 2022 include Asiapac Books, Difference Engine, Epigram Books and G.H.Y Culture & Media.

SGCC 2022 will return in physical format for the first time since 2019. Held at the Marina Bay Sands, Singapore, fans can look forward to a variety of content and exclusives from new and familiar exhibitors, gaming tournaments, and a gallery of the best submissions by budding creators. SGCC 2022 will also feature 350 exhibitors and 420 brands, including Bandai Namco Singapore, Mighty Jaxx and Games Haven.

Tickets to SGCC can be purchased on the Klook website https://www.klook.com/en-SG/activity/75556-sgcc-2022/.

For more information, please visit https://www.singaporecomiccon.com/.

CreatorWorld
24 – 27 November 2022

CreatorWorld is the place to connect, learn and celebrate everything & everyone in the Online Creator Ecosystem by bringing Creators together with key executives from the global online media industry including platforms, brands and the wider fan community.

For more information, please visit www.creatorworld.live.

Hashtag: #IMDA #AIPRO

About Infocomm Media Development Authority

The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation by developing a vibrant digital economy and an inclusive digital society. As Architects of Singapore’s Digital Future, we foster growth in Infocomm Technology and Media sectors in concert with progressive regulations, harnessing frontier technologies, and developing local talent and digital infrastructure ecosystems to establish Singapore as a digital metropolis.

For more news and information, visit www.imda.gov.sg or follow IMDA on Facebook (IMDAsg) and Twitter (@IMDAsg).

About the Association of Independent Producers
AIPRO, the Association of Independent Producers, is an accredited professional body representing the interests of all organisations from Singapore’s independent media production industry. Among our 70 members are a wide variety of companies, consisting of both fresh new talent and established players. Our member companies continue to raise the profile of the industry by garnering both local and international awards. Content produced by AIPRO members have screened to audiences not just in Singapore but to over 100 countries worldwide expanding the global footprint of Made-by-Singapore productions. The Association’s mandate includes providing a platform for its members and industry stakeholders to network and dialogue, promoting industry best practices, upgrading manpower skills; and maintaining a crucial link between various institutions and industry needs.

For more information, visit or connect with us on Facebook (aiprosingapore) and Instagram (@aiprosg).

Two Buddy Robbers Arrested in Xaythany After Attempting to Steal a Motorbike

Two teenagers were arrested for using a firearm to steal a motorbike.

Vientiane’s Xaythany district police have recently arrested two men in possession of handguns and two stolen motorbikes after being notified by one of their victims.

President of the National Assembly Invites Russian Tourists to Laos

The President of the National Assembly invited tourists from Russia to visit Laos on the 62nd anniversary of the establishment of Lao-Russian diplomatic relations earlier this month.

Two Men Arrested in Thailand Over Trafficking Lao Women for Sex Trade

Two suspects arrested over sex workers trafficking | eventesan.com

Thai immigration police arrested two men in Nong Khai last week for allegedly trafficking Lao women into the country for sex trade. 

Global CEOs see a ‘mild and short’ recession, yet optimistic about global economy over 3-year horizon, KPMG says

  • More than eight out of 10 surveyed CEOs anticipate a recession over the next 12 months, with more than half expecting it to be mild and short
  • Seven out of 10 believe a recession will disrupt anticipated growth
  • However, rising confidence in longer-term growth of the global economy and their own companies’ prospects

HONG KONG SAR – Media OutReach – 18 October 2022 – The KPMG 2022 CEO Outlook, which surveyed more than 1,300 CEOs at the world’s largest businesses about their strategies and outlook, reveals that 58 percent of leaders expect a recession to be mild and short. Fourteen percent of senior executives identify a recession among the most pressing concerns today — up slightly from early 2022 (9 percent), while pandemic fatigue tops the list (15 percent).

Over the next year, more than eight out of 10 (86 percent) global CEOs anticipate a recession to hit, with 71 percent predicting it will impact company earnings by up to 10 percent. A strong majority of senior executives believe that a recession will disrupt anticipated growth (73 percent). However, three-quarters (76 percent) have already taken precautionary steps ahead of a looming recession.

Despite those concerns, senior executives also feel markedly more confident about the resilience of the economy over the next six months (73 percent) than they did in February (60 percent), when KPMG surveyed 500 CEOs for its CEO Outlook Pulse survey. Furthermore, 71 percent of leaders are confident about the global economy’s growth prospects over the next three years (up from 60 percent in early 2022) and nearly nine in 10 (85 percent) are confident about their organization’s growth over the next 3 years.

Bill Thomas, Global Chairman & CEO, KPMG, said: “Once-in-a-generation issues — a global pandemic, geopolitical tensions, inflationary pressures and financial difficulties — have come in short succession and taken a toll on the optimism of global CEOs. While it’s unsurprising the economic climate is now a top concern for business leaders, it’s encouraging to see reasonable levels of confidence among executives in their own companies and their longer-term prospects for growth.

“The events of recent years have created real turbulence for the business community. Our findings should provide some cautious optimism that, in contending with and overcoming these ordeals, executives are more confident in their companies’ resilience and are focused on mitigating some of the very real uncertainties we face today.”

Honson To, Chairman of KPMG China and Asia Pacific, said: “Four in five of the surveyed CEOs from China remain confident about the growth prospects of the local economy over the next three years, which is in line with last year’s figure. With the global economy currently facing significant uncertainty, economic growth is slowing and impacting on different areas ranging from strategies and operations to investments made in companies. Meanwhile, CEOs are proactively adopting various measures to strengthen the resilience of their companies to achieve growth in this constantly changing market environment. For example, digital transformation is being accelerated to enhance innovation and the agility of companies. By strengthening the synergy between environmental, social and governance (ESG) and corporate development strategies, companies are aiming to improve their financial results. To attract and retain high-quality talent, CEOs are also increasing the core competencies of their organisations.”

ADDITIONAL FINDINGS:

Hiring freezes and headcount reductions under heavy consideration by CEOs

With continued economic turmoil, there are signs that the Great Resignation could be cooling down, with 39 percent of CEOs having already implemented a hiring freeze, and 46 percent considering downsizing their workforce over the next six months. However, the three-year view is more optimistic with only 9 percent expecting a further reduced headcount.

Uncertainty fueling long-term digital transformation

While current uncertainty is driving CEOs to continue to prioritise digital transformation, 40 percent of businesses have paused their digital transformation strategies and another 37 percent plan to take such steps in the next six months.

In the longer-term, more than a quarter believe that advancing digitalisation and business connectivity is also vital to achieving growth objectives over the next three years. Seventy-four percent also agree that their organisation’s digital and ESG strategic investments are inextricably linked.

Evolving focus toward reputational and technological risks

Emerging and disruptive technology is perceived to be the top risk to business growth over the next three years. In addition, CEOs have identified several other areas as top risks to growth: reputation, regulatory and operational issues, and climate change.

Reputational risk — such as a misalignment with customer or public sentiment — is raising more concern among CEOs compared to early 2022 (10 percent in August vs. 3 percent in February).

Cyber security no longer corporations’ biggest threat, with more companies prepared for attacks

Cyber security has dropped from the top five risks to growth over the past year, with only 6 percent of CEOs naming it as their top risk (17 percent in February 2022). However, the cyber environment is evolving with 77 percent saying their organization views information security as a strategic function and as a potential source of competitive advantage. Geopolitical uncertainty is also raising concerns of corporate cyber attacks, according to 7 of 10 CEOs (73 percent).

Nearly three-quarters of organizations (72 percent) have a plan to handle ransomware attacks. However, more CEOs recognise that they are under-prepared for a cyber attack with nearly a quarter (24 percent) admitting so in 2022, compared to 13 percent in 2021.

Stakeholder pressure increasing accountability in ESG

When asked what their top challenge in communicating ESG performance to stakeholders was, nearly one-fifth (17 percent) of CEOs indicated it was stakeholder skepticism around greenwashing, up from 8 percent in 2021. More than one-third (38 percent) of CEOs say their organisations struggle to articulate a compelling ESG story. Nearly three-quarters of respondents (72 percent) also believe that stakeholder scrutiny of ESG issues — gender equality, climate impacts etc. — will continue to accelerate.

On talent, compared to early 2022, more C-suite executives believe that having the right talent and skills is also key to achieving net zero — or similar — ambitions. Nearly a quarter (22 percent) say a lack of skills and expertise is hindering the implementation of solutions — an increase from 16 percent earlier this year.

Economic pressure slowing ESG ambitions

Global CEOs recognise the importance of ESG initiatives to their businesses, especially when it comes to improving financial performance and driving growth. In fact, 69 percent of senior executives noted greater demand from stakeholders for increased reporting and transparency on ESG — 58 percent in 2021.

Nearly half (45 percent) of CEOs agree that progress on ESG improves corporate financial performance, an increase from 37 percent just a year ago. However, as economic uncertainty continues, half are pausing or reconsidering their existing or planned ESG efforts in the next six months, and 34 percent have already done so.

The full findings of the KPMG CEO Outlook survey include qualitative interviews with the CEOs of: AMP, Bankinter, Fujitsu, Ricoh Europe, Tata Steel and ServiceNow.

To view additional information about the survey please visit http://www.kpmg.com/CEOoutlook. You can also follow @KPMG on LinkedIn and Twitter for updates and the conversation with #CEOoutlook.

Notes to Editors:

About KPMG’s CEO Outlook
The 8th edition of KPMG CEO Outlook, conducted with 1,325 CEOs between 12 July and August 24, 2022, provides unique insight into the mindset, strategies and planning tactics of CEOs not only comparable to pre-pandemic to today, but also from KPMG’s CEO Pulse Survey conducted between 12 January and 9 February, 2022, with 500 CEOs.

All respondents have annual revenues over US$500M and a third of the companies surveyed have more than US$10B in annual revenue. The survey included leaders from 11 key markets (Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, UK and US) and 11 key industry sectors (asset management, automotive, banking, consumer and retail, energy, infrastructure, insurance, life sciences, manufacturing, technology, and telecommunications). NOTE: some figures may not add up to 100 percent due to rounding.

Hashtag: #KPMG

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

About KPMG China

KPMG China has offices located in 30 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

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Yuexiu Transport Proposes to Acquire 100% of Equity Interests in Lanwei Expressway Company

The Company Makes Progress with GNSR Expressway R&E

HONG KONG SAR – Media OutReach – 18 October 2022 – Yuexiu Transport Infrastructure Limited (“Yuexiu Transport” or the “Company”; stock code: 01052) announced that a wholly-owned subsidiary of the Company has entered into an agreement to acquire 100% of equity interests in the target company which operates Lanwei Expressway in Henan Province (“Target Company”) from Guangzhou Yuexiu Holdings Limited at a total consideration of RMB1.098 billion. The Target Company operates the expressway and is entitled to its toll collection right. The Company intends to finance approximately 60% of the total consideration by bank loan for acquisition and approximately 40% by internal resources. The acquisition is subject to approval by independent shareholders. Meanwhile, the Company’s GNSR Expressway is making further progress with its R&E Project. As a preliminary step of the R&E Project, an agreement on land expropriation has been entered into today. Upon the completion of the R&E Project, the Company may be able to extend its operating rights of GNSR Expressway for a period of up to 25 years.

Expanding business presence in Central China and directly enhancing toll revenue and profit contribution

Lanwei Expressway has been in operation for nearly 17 years since it opened to traffic in 2005. It has a total mileage of 61.03 km while the expressway networks connecting to Lanwei Expressway and the nearby expressway networks are all very mature and stable. Moreover, Lanwei Expressway has a significant geographical advantage, and is an important part of the expressway network planned by Henan. It is an important component of Lannan Expressway, one of the 16 expressways running from north to south vertically under the expressway network of Henan. It connects the section from Wanglou to Lankao of the Rilan Expressway in the north. It connects Zhengmin Expressway, Daguang Expressway and Shangdeng Expressway. It also connects Weixu Expressway, which is wholly owned by the Company, in the south, and serves as a highway from the hinterland of the Central Chinese Plains to the coastal areas of Shandong Province.

The Company is optimistic about the economic development in Central China in the long run. The acquisition of Lanwei Expressway aligns with the Company’s strategy of developing in the Central China region and the Company believes that Lanwei Expressway, located in the core development areas of the Central Chinese Plain city clusters, will continue to benefit from the regional strategic developments such as the “Rise of Central China” as well as the construction of the Central Chinese Plain city clusters and the Zhengzhou Metropolitan Area. At the same time, the connection between Lanwei Expressway and Weixu Expressway fosters a more united and consistent approach of operation management and facilitates the Company to set up a district-based management and control model, which can provide economies of scale and enhance management efficiency.

Lanwei Expressway is a project with considerable benefits. The Target Company recorded an audited revenue of approximately RMB309 million and a profit before tax of approximately RMB36.011 million for the full year of 2021. The acquisition will expand the Company’s revenue stream. For the seven months ended 31 July 2022, the Target Company achieved an unaudited revenue of approximately RMB198 million, while its profit before tax for the same period rose to approximately RMB34.31 million, representing a year-on-year increase of 10.5% and 44.4% respectively.

Upon the completion of the acquisition, the toll mileage of the Company’s controlled expressways will increase from 495.2 km to 556.23 km, representing an increment of approximately 12.32%. In conclusion, the acquisition not only will help the Company increase its revenue, profitability and mileage, it will also help the Company optimize the regional presence of its expressway assets and raise revenue contribution from provinces in Central China, while scaling up its operation and enhancing its capability of sustainable development. The Company will continue to invest in its main business of toll expressways, with an aim to capitalize on opportunities arising from favorable policies, continuously optimize its asset portfolio, and improve its business model integrating “investment, financing, management and exit” on an ongoing basis, to create greater value and better returns for shareholders.

Making further progress in R&E Project, enhancing asset value for the long run

In order to relieve the traffic pressure and enhance the capacity of GNSR Expressway with an aim to support the government’s economic and infrastructure development plans in the Greater Bay Area, GNSR Company, an indirect subsidiary owned as to 60% by the Company, is going to undertake the GNSR Expressway R&E Project. As a preliminary step of the GNSR Expressway R&E Project, on 17 October 2022, GNSR Company has entered into the Baiyun District Land Expropriation Works Agreement with Baiyun Land Acquisition Office, for the land expropriation arrangement to be undertaken by Baiyun Land Acquisition Office in Baiyun District in connection with preliminary works for the GNSR Expressway. The total compensation amount for the expropriation of the relevant land is RMB50 million, and shall be paid by GNSR Company.

As a core component of the national expressway network and a key part of Guangzhou’s expressway network planning, GNSR Expressway is crucial to the expressway network of the Greater Bay Area. The traffic volume of GNSR Expressway has become substantially saturated, resulting in frequent traffic congestion. With the continuous growth of traffic volume in Guangzhou, actual traffic volume has exceeded the existing capacity of GNSR Expressway, and there is an apparent urgency for the reconstruction and expansion of GNSR Expressway. The preliminary works of the GNSR Expressway R&E Project will commence by the end of November 2022, while the subsequent major works are expected to commence in June 2023, with the construction works to be completed in June 2028. The total investment amount of the GNSR Expressway R&E Project is estimated to be approximately RMB17 billion. The total capital contribution of the Company in respect of the Project is expected to be approximately RMB3.06 billion, which will be contributed to GNSR Company based on the construction progress during the construction period between 2022 and 2028.

The GNSR Expressway R&E Project will significantly improve traffic conditions, enhance service standards, reduce traffic accidents, and ensure safe travel. Through the GNSR Expressway R&E Project, the Company believes it can effectively improve the asset quality of GNSR Expressway, extend the remaining comprehensive concession period, expand the scale of the Company’s expressway assets, enhance the future development capacity of its main toll road business, and further strengthen its core advantages in investment, construction and operation of toll roads.

The Board expects that upon the completion of the GNSR Expressway R&E Project, the Company should be able to obtain an approval for the extension of the operating rights of GNSR Expressway for a period of up to 25 years until 2053. The final toll period extension is subject to the approval of the Guangdong Provincial People’s Government.

The Board considers that the GNSR Expressway R&E Project is of strategic significance to the future growth and development of the Company and is in line its development plan. As a preliminary step of the GNSR Expressway R&E Project, the Baiyun District Land Expropriation Works Agreement and its implementation are fair and reasonable and on normal commercial terms. They are in the interests of the Company and its shareholders in general.

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About Yuexiu Transport Infrastructure Limited

Yuexiu Transport Infrastructure Limited is principally engaged in investment, operation and management of toll expressways, bridges and port in Guangdong Province and other high-growth provinces in mainland China. The Company will seize the strategic opportunities for mergers and acquisitions of expressway assets to establish a solid presence in the Guangdong-Hong Kong-Macao Greater Bay Area and other regions that will benefit from the continuous urbanization and rapid industrialization. In terms of its asset portfolio, mature projects such as GNSR Expressway, Suiyuenan Expressway and Weixu Expressway are the stable profit contributors of the Company. Other projects acquired in recent years have given new impetus to the Company’s growth driver. On 14 December 2021, the Company successfully spun off Han-Xiao Expressway, which was listed on the Shenzhen Stock Exchange as a publicly offered Infrastructure REIT. Han-Xiao Expressway is no longer a subsidiary of the Company. At present, the Company has invested in and is operating a total of 16 projects encompassing toll roads, bridges and a port, including 9 in which the Company has controlling equity stakes and 7 which the Company has invested in through associates and joint ventures. The total mileage of the Company’s toll expressways and bridges attributable to its equity interests is about 495 km.