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Uphold Cutlery Global Crowdfunding Campaign Launches Unparalleled Sustainable Design for Pocket Cutlery : Small but Mighty, BPA-free, Cradle-to-Cradle

Be Bold, Unfold & Uphold
Don’t you want to stop using disposable plastic forks and wooden chopsticks that worsen the solid waste and microplastic problems? Do you have a travel cutlery set but for some reasons you rarely bring it along?

HONG KONG SAR – Media OutReach – 17 October 2022 – Hong Kong start-up Uphold Living has developed a patented design product known as Uphold Cutlery, which is as light and small as a business card case, functional and made of food-grade and recyclable materials. The innovation is an indispensable everyday use item for green living enthusiasts. Uphold Cutlery‘s crowdfunding campaign will launch on Kickstarter on 18th October. Join us as a backer and uphold your green lifestyle!

Uphold-photo.jpg

Be Bold, Unfold & Uphold

Kickstarter campaign (launch time: PST 0900 18/10, HK time 00:00 19/10)
www.kickstarter.com/projects/uphold/pocket-size-reusable-folding-travel-cutlery

Webpage: www.upholdliving.com/exclusive-offer

Unparalleled Design Resulting from Years of R&D

Eric Tong, Co-Founder and Principal Designer of Uphold Living said sustainable development and the elimination of one-off usage of plastic utensil is an irreversible global trend. “Many people own a reusable cutlery set but they rarely carry it around simply because of flawed product design. For example, the set is too bulky to be carried in pockets, or their package simply doesn’t fit in with our daily outfits. Some products compromise their function to the over-emphasis on the compatibility by combining the fork and spoon in one piece. Some are difficult to wash and some use materials that pose health-risks. Uphold Cutlery is addressing all these concerns as a result of our long-term research and modification.”

Uphold Cutlery is made from recyclable materials which are compliant to food safety standard. Despite the small size, it contains a fork, a knife and a spoon and stands out from its counterparts in the market with its incomparable light-weighted and slim fold design, coupled with the affordable prices. In addition, the heads of the utensils are replaceable while the whole set can be detached into plastics and metals separately for upcycling. Uphold Cutlery won Silver Award (Leisure and Travel) in Hong Kong Smart Design Awards 2022 organised by the Hong Kong Exporters’ Association

Uphold Cutlery‘s crowdfunding campaign will start on Kickstarter from 18th October. Pledge level starts at USD40 while early bird backers will enjoy 50% discount for the reward of a cutlery set.

What makes Uphold Cutlery incomparable:

  • Light & Slim: A set weights 75 grams only and measures 66mm x 100 mm x 10 mm, as tiny as a business card case. It is comfortable to pocket carry.
  • Safe & Hygienic: The head and handle of the knife, fork and spoon are made of Aluminium Alloy and Titanium Alloy respectively. The joint is made of food-grade TPU/TPE. The product is BPA-free and can withstand temperature of up to 110 degree Celsius. TSA approval enables travellers to bring it along on flight. The cutlery is easy to clean and free from grease traps.
  • Durable & Recyclable: The product is designed to last at least 3,000 uses and replaceable utensil heads are available as spare parts. All materials are completely recyclable with conventional technologies. With ‘cradle-to-cradle’ principle adopted, all materials, namely the plastic and metals, used in the product can be recycled separately without waste at the end of its life cycle.
  • Functional & Ergonomic: Few travel cutlery products in the market manage to strike a balance between the size and functionalities. Uphold Cutlery is a breakthrough solution- utensil functions are not compromised to collapsibility when the heads with larger angles are designed specifically for portable food containers which are usually narrower and taller than regular crockery. Revolutionary travel cutlery ergonomics improve on-the-go dining experience and efficiency.
  • Chic & Timeless: The product is crafted to be a chic accessory to go with metropolitan lifestyles. Whether you are suited up for work, going light without a handbag, or just gearing up for an urban picnic, you will find the timeless design of Uphold Cutlery fit in with ease!

[Annex I]
Facts & Figures of Disposable Plastic Utensil

  • More than 100 million plastic utensils are used every day**
  • Most plastic utensils are made of polystyrene, which can release toxic chemicals when heated**
  • Single-use utensils can take up to 1,000 years to depose**
  • The Ocean Conservancy lists cutlery as among the items “most deadly” to sea turtles, birds, and mammals.

In Hong Kong

  • Plastic waste accounts for the third-largest share of municipal solid waste. In 2019, close to 10% of plastic waste was disposable tableware (forks, spoons, knives, stirs and straws) *
  • Over 15 billion pieces of disposable plastic tableware were dumped in 2020, a 1.5 times increase from 2018.* During the Covid19 pandemic, a food delivery platform operator reported four-folds increase in food orders in Q1 2020, compared to the same period of the previous year.
  • The Government proposed prohibition of non-EPS cutlery for dine-in and takeaway around year 2025.*
  • According to Environmental Association’s product inspection conducted in 2019, of the 25 types of disposable cutlery products with “Green” or “Eco-friendly” claims, 72% did not state their composition.
  • Biodegradable plastics are being green washed and marketed as a replacement to single-use plastics, but in fact many “biodegradable” products cannot be properly decomposed naturally. Some takes centuries to break down naturally or the decomposition requires special technology or specific conditions. Plastic cutlery can be decomposed into microplastics and toxic substances.
  • A survey conducted by Greenpeace found that more than half of the respondents were willing to try rental service of reusable food containers

Source of information:
**National Geographic
*Measures to curb disposable plastic tableware (LegCo research publications essentials)

[Annex II]

Eric Tong
Co-Founder, Director, Principal Designer,
Uphold Living
Chris Lim
Co-Founder

Uphold Living
Eric Tong graduated with a Graduate Diploma in Architecture from The Bartlett School of Architecture, UCL in 2004. Having worked for renowned late architects Zaha Hadid and Future Systems, Eric developed a passion in industrial design. He is devoted to design innovation and in the eight years since his studio’s establishment, his work won multiple international awards, including the Good Design, Good Design Singapore, IF, Design For Asia, Golden Pin, and Perspective A&D Trophy Awards. In 2015 he received the Perspective 40 Under 40 Award of which he was celebrated as one of the most influential designers of the future.

Eric and Chris Lim co-founded Uphold Living in 2020, focusing on the design and development of sustainable lifestyle products. The Uphold Cup gained recognition in the HKDA Global Design Awards 2018.

Besides his ventures, Eric serves as a design and innovation consultant. In 2015 he was invited to advise Audi on its AIR (Audi Innovation Research) Programme.

Eric is a Council Member of the Royal Institute of British Architects (HK Chapter), and served as an Executive Committee Member of the Hong Kong Designers Association. Eric engages himself in research and teaching in parallel to his practice of design. In 2016 he was awarded Best Design Educator from the Hong Kong Designer Association. Eric was adjunct lecturer of Architecture at the Hong Kong University SPACE and lecturer of Innovative Furniture Design at the Hong Kong Design Institute.

Hashtag: #UpholdLiving

Uphold Living

Uphold Living is a sustainable product design brand and a start up. We work on a mission to promote sustainable lifestyle and the elimination of one-off utensil through our products including cups and cutlery set.

Website:
Facebook page:
IG:

eWTP Arabia Capital: How to Fully Capture the Globalization Trend

SINGAPORE – Media OutReach – 17 October 2022 – eWTP Arabia Capital (eWTPA), a leading Saudi Arabia and China-based growth stage venture fund, shared their insights during the Singapore Investment Forum 2022, jointly organized by China Venture and DBS.

Themed “Dawn of a New Era”, the Singapore Investment Forum 2022 investigated extensively into the unique value proposition that Singapore and Southeast Asia offer. One of the crucial objectives of the event was to debunk the common belief of “the bigger, the better” and re-establish the fact that city-state has become a dominant driving force that cannot be ignored in the Asia-Pacific financial investment markets.

Mr. Jerry Li, Founding and Managing Partner of eWTPA, shared his experience on developing the MENA market over the past few years during a panel discussion with Mr. Calvin Cheng, Partner & Head of Greater China of EvolutionX Dept Capital, Mr. Yinglan Tan, Founding & Managing Partner of Insignia Ventures Partners, and Mr. Allen Zhu, Managing Partner of GSR Ventures.

The Pathway for Chinese Enterprises

The core value of eWTPA is to help Chinese entrepreneurs flourish under “the new normal world”, particularly in expanding their networks and business scope in emerging markets including the Southeast Asia and the MENA region. The investment strategy is mainly through private equities and M&A.

“Globalization has never been more important than today. To Chinese enterprises, globalization is an inevitable trend for their growth and development. However, most of them are not ready to embrace it,” said Mr. Li.

“For example, having been following the “Belt and Road” Initiatives for years, we found out that regions from Southeast Asia, South Asia to the Middle East all have different characteristics. Our strategy for business growth is often centered around exploring the way for economic growth and assisting the creation of new regional cooperation models.”

Following the “Belt and Road” path, eWTPA reached the Middle East. “I believe the Middle East has been underestimated. The characteristic of the Middle East is that the capital is relatively concentrated. We can rarely see start-ups that are able to solve sectoral issues of the Middle East, or meet investment targets. Thus, it is relatively suitable for sophisticated Chinese businesses to develop in the region. Therefore, we adopt a customized approach across the MENA region, through merger and acquisition, we help Chinese businesses integrate thoroughly with local resources,” commented Mr. Li.

Replicate the Successful Chinese Model

“We need a sense of time and space when it comes to “replications”. It can mean either replicating business models for a different region or utilizing the periodicity of development. When we try to replicate success in another region, we must think in terms of the local market. On localization, I would like to share two points – localizing your mode of thinking and the business scenarios,” Mr. Li continued.

“Localizing your vision requires profound understanding of the local market, including geopolitical relationships, economy, culture, etc. Businesses, especially internationalized ones, must take that into consideration, and stay away from simply replicating the same model.”

Sectors Suitable for MENA Expansion

Investors from the Middle East are interested in digital infrastructures amidst economic transformation, spanning enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment.

Taking Saudi Arabia as an example, Saudi Arabia has a land area of 2.25 million km2 – almost one-fifth of China. The country has just begun their own version of “reform and opening-up” for less than five years, while its GDP has exceeded $100 billion. The GDP growth may exceed 10% very soon, whilst there had been no explosive growth from their own industries, and these additional money was related to petroleum. Therefore, Saudi Arabia has strong determination and will to transform their economic structure by importing related technologies.

Looking Forward

In summary, eWTPA believes that Chinese companies, especially tech companies with high dependence on the Chinese market , are facing more uncertainty than ever. Thus, they need to diversify their market exposure to alleviate that risk. This could contribute as one of their internal motivations of going abroad.

“As China and the world stepping into “the new normal”, entrepreneurs must embrace globalization than otherwise. From the perspective of industrial structure, the development process will shift to exporting technologies and capitals. “Capital + Technology” is a “standard configuration” of developed countries,” Mr. Li concluded.

Hashtag: #eWTPArabiaCapital

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

About eWTP Arabia Capital

eWTP Arabia Capital (“eWTPA”) is a growth stage venture fund based in Saudi Arabia and China backed by marquee investors – eWTP Capital and the sovereign wealth fund of Saudi Arabia, Public Investment Fund (PIF). eWTPA is focused on building a local digital ecosystem in MENA by partnering with market leading Chinese businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. eWTPA takes pride in its ability to offer comprehensive support to its portfolio companies, empowering them to explore and succeed in strategic markets across the MENA region.

Established in 2019, eWTPA is now the preferred partner for Chinese technology giants seeking to enter the MENA region. Through its US$400 million Fund I it has invested in 16 companies in the digital sector, 13 of which have already established themselves successfully in Saudi Arabia. Investments include the hugely successful Saudi Cloud Computing Company (“SCCC”) the kingdom’s leading provider of cloud Services and J&T Logistics, which is now the fastest growing logistics provider in the country.

The fund’s core investment strategy is to transfer the latest technology and proven business models from China and Asia more broadly in order to fill a clear gap in its target MENA market. eWTPA focuses on the sectors of digital infrastructure, core technology and platform, consumer and enterprise services which span enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment. To eWTPA, success is the ability to drive capital appreciation and to help elevate the digital eco-system in the MENA region.

Bank of the Lao PDR Issues New Banknotes for Circulation

Bank of the Lao PDR

Bank of the Lao PDR (BOL) has announced the release of two new banknotes to increase the quality of currency being printed and prevent forgery.

United States and Laos Hold 10th Comprehensive Bilateral Dialogue

US Assistant Secretary of State for East Asia and Pacific Affairs Daniel Kritenbrink, Vice Minister of Health Dr. Snong Thongsna, U.S. Ambassador Peter Haymond, WHO Representative Dr. Ying-Ru Lo, and UNICEF Officer in Charge David Duncan observe COVID-19 vaccination efforts at Vientiane’s Sisattanak District Hospital.

The United States and Laos held their 10th Comprehensive Bilateral Dialogue on October 14, in Vientiane, where the two sides discussed their continued cooperation across a host of issues.

AFS Launched the Youth Empowerment Project (YEP) amid the Pandemic

Providing Eye-opening Opportunities for 2,000 Students to Nurture ; A Sense of Belonging, Global Citizenship and Social Stewardship

HONG KONG SAR – Media OutReach – 17 October 2022 – Local non-profit organization AFS Intercultural Exchanges in Hong Kong has launched the Youth Empowerment Project (“YEP”), providing opportunities of intercultural learning and overseas exchange to help young people develop the knowledge and skills needed for creating a better world. Thanks to the funding support from Drs Richard Charles & Esther Yewpick Lee Charitable Foundation, registration of the project opens now to up to 2,000 students.

Empowering Youngsters on Their Life Journey

Dr. Josephine Jim, Executive Director, AFS Intercultural Exchanges in Hong Kong (AFS HK) remarked, “in the era of globalization and digitalization, the younger generation needs to broaden their worldview and be adaptive to the intercultural environment so as to cope with the rapid and diverse social development. A sense of belonging to the society, self-identity as well as commitment to contributing to the society are also important.”

The YEP administered by AFS HK caters for secondary school students aged 14 to 17. The project encompasses competitions and a series of activities to be rolled out in three stages that involve students in in-depth and diverse experiential learning. The gamification design of the project is aimed to arouse students’ interest and encourage participation. Participants will first take part in intercultural learning programs in which they will learn about global issues such as conflicts, climate change and more. Thereafter, they will receive training on inclusive communication and advocacy skills, as well as skills to develop a sense of self-worth and self-identity, and positive outlook on life.

The project will award full scholarships to 20 students, of whom the top 10 winners will be sponsored to go on a one-year overseas exchange program. The exposure to different cultures and education models through experiential learning helps students to develop a sense of global citizenship and the capability of adapting to and competing in the increasingly diverse world. Another 10 awardees will be arranged to attend the Youth Assembly in New York City where they will work together with peers from different parts of the world to make their voice heard and advocate social changes. At the end of the project is a Mentoring Program – the RC Lee Project Connect Mentoring Program that gives guidance on studies and career development.

“The goal of the 3 years project is to engage 2,000 students in intercultural experiential learning, hoping to help them to become active global citizens, to enrich life experiences and build connections. The knowledge and skills they acquired from the YEP will enable them to make decisions and plans for their future,” said Dr Jim.

Supporting organizations of the YEP include the Consulate General of Hungary in Hong Kong, The Association of Hong Kong Chinese Middle Schools, the Goethe Institut Hong Kong and the Instituto Italiano di Cultura Hong Kong.

AFS Youth Empowerment Project
Learn more and register: www.afs-education.hk

Three stages of the Youth Empowerment Project:

Stage 1 Stage 2
Sep 2022 Online registration starts (2,000 places) Jul 2023 Top 10 winners receive full scholarship for One Year Exchange Program and start application procedure
Oct Join Virtual Intercultural Fair & then complete the Test I Jul-Aug 90 runners-up of THINK BIG Competition I will enter Stage 2 and take part in AFS International events:

Global Youth Adventurer Program

Global Youth Changemaker Program

Dec Top 500 scorers of Test I will be invited to join Global Up Teen; Taking Test II Dec 90 Finalists to enter THINK BIG Competition II (1st Round)
Feb 2023 Top 100 scorers of Test II will be invited to participate in THINK BIG Competition I (1st Round) Mar 2024 30 Finalists of THINK BIG Competition II (2nd Round) interview & presentation

– to create and implement a sustainable development project in HK

Apr 30 Finalists of THINK BIG Competition I (2nd Round) interview & presentation – to demonstrate the knowledge, skills and confidence to promote the Chinese culture of HK as a Youth Ambassador
Aug Another 10 winners of THINK BIG Competition II receive full scholarship to attend the Youth Assembly in New York City
Stage 3
May Results Announcement Jul-Aug The 20 Scholarship Awardees to join AFS – RC Lee Project Connect Mentoring Program

“Learned what is not taught in books”

Every year, around 100 students joined AFS Hong Kong’s overseas exchange program to study abroad. Among their destinations are the US, Japan and Germany as well as some other less visited countries like Russia, central European and South American countries. Over the past two years, the overseas exchange program did not pause despite the pandemic – some 30 to 60 students went overseas for exchange experience each year while 20 foreign students from 10 countries were received by local families and schools.

HK Students joining overseas exchange program HK families hosting exchange students
Year No. of persons (countries) No. of persons (countries)
2022-23 54 (17) 15 (8)
2021-22 61 (17) 5 (4)
2020-21 36 (11) suspended

Daphne, grown up in a single-parent family and living in a public housing estate, was supported by an AFS scholarship to study in Hungary for one year. She said she had never thought of joining an overseas exchange program that her family could not otherwise afford. She enjoyed the experience so much. “I stepped out of my comfort zone to explore what is really of my interest, and to try and learn. I have become more independent and have strengthened my ability to tackle challenges. I’m most proud of myself as I no longer fear traveling on my own.”

Daphne’s mother found her daughter to have become more adaptive, self-disciplined and resilient than before. “I am grateful to see her having got along with her host family members well for 11 months. The key is communication, acceptance and understanding.”

According to the AFS HK survey conducted in 2021-22, 100% of the students who had joined overseas exchange programs said the experience made them become more independent, mature and self-confident; 90% reported that they had a clearer idea of their development and career direction. Other gains include knowledge and understanding of cultural differences and global issues, mastering of foreign languages and problem-solving skills. As many as 97% of the students and their parents were satisfied with the program.

Hashtag: #AFSHK

AFS Intercultural Exchanges in Hong Kong (AFS HK)

AFS HK is an international non-profit organization founded in 1982. It focuses on providing intercultural learning opportunities like overseas exchange programs and local hosting programs to help people develop the knowledge, skills and understanding needed to create a more just and peaceful world. More than 4,000 Hong Kong students joined the overseas exchange program while some 900 foreign students were hosted by local families and schools. AFS Intercultural Programs was established in 1914. It has 60 offices around the world and is engaged in a consultative status partnership with UNESCO.

Website:

Champasack to Develop Areas Around Two Waterfalls for Tourism

Khon Phapheng and Somphamit or Li Phi falls.

Khon Phapheng and Somphamit or Li Phi falls will be developed with an estimated construction value of USD 500,000.

Thai Government Takes Steps to Legalize Undocumented Lao Workers

Migrant workers from Laos, Cambodia and Myanmar in Thailand.

The Thai government has announced that it will provide work permits and visas to Lao nationals so that they can remain in the country legally and continue working for the next two years.

Coface Q3 2022 Barometer: ‘A Cold Chill on The Global Economy’

HONG KONG SAR – Media OutReach – 17 October 2022 – Beyond the repercussions of the war in Ukraine, the global monetary tightening and the multiple constraints on Chinese growth paint a gloomy outlook. In the short term, the economy seems to be settling into a regime of “stagflation”, where almost no growth and rapidly rising prices coexist. The possibility of a global recession, meanwhile, is becoming clearer.
In this context, Coface is making general downward revisions to its GDP growth forecasts and its country and sectoral assessments.
Eight countries, including Italy, Denmark, Switzerland, Egypt, and Chile, have had their assessment revised downwards after the 19 downgrades in the 2nd quarter.
The 49 downgrades of sectoral assessments highlight the clear deterioration of conditions in sectors sensitive to the economic cycle such as construction, metals and wood, in a variety of geographies.

Coface-EN.jpg

Winter and recession looming in Europe

Most of the risks mentioned in our previous publications have materialised: the energy crisis in Europe, persistent inflation, and aggressive monetary tightening. This has led Coface to revise down significantly its world growth forecasts for 2023: it should be below 2% as in 2001, 2008, 2009 and 2020.

While the growth forecasts have been revised downwards for all regions worldwide, Europe is the one whose outlook has darkened the most with a recession that seems inevitable in all the main economies this winter. Indeed, the energy crisis is intensifying and the old continent is preparing for “imposed” sobriety. Whether it takes the form of a “voluntary” reduction (suspension of activities that have become unprofitable because of energy costs) or rationing decreed by governments, the drop in energy consumption will necessarily translate into lower production and a decline in GDP. The extent of the decline will depend largely on the severity of the winter, and Germany, the continent’s leading industrial power, will be at the forefront.

Consequently, the majority of our country risk assessment downgrades this quarter again concern European economies. Coface is proceeding with 6 additional downgrades, notably for 3 countries where the risk was still considered very low: Denmark, Switzerland and Luxembourg. Only Norway, a gas producer, remains in a position to enjoy the best risk assessment.

Faced with the prospect of persistently high global energy prices, almost half of the 49 downgrades of sectoral assessments concern energy-intensive industries such as chemicals, paper and metals. However, unlike the previous quarter, when most of these downgrades were in Europe, this time we also downgraded these sectors in most Asian economies and, for example, also in South Africa.

Central banks step up the fight against persistent inflation

Recent months have confirmed the materialisation of persistently high and increasingly widespread inflation in advanced and emerging economies.

In this environment, the main central banks remain resolutely aggressive and most of them have returned to key interest rate levels unseen in the last decade. The Fed, for example, raised its key rate 3 times in a row by 75 basis points this summer. This aggressiveness is leading to increased monetary tightening in other countries – particularly emerging countries – in order to halt the depreciation of their currencies against the USD.

Such a tightening of monetary and financial conditions, should it continue at the current pace, would obviously threaten global growth and financial stability.

Three emerging central banks are continuing to pursue counter-current monetary policies: Russia, Turkey and China. The Chinese monetary authorities have lowered some benchmark interest rates in order to support activity in response to the confirmation of a sharp slowdown in the economy. It continues to be affected by the zero-COVID strategy, the severe drought this summer and the crisis in the property sector. In particular, the woes of the property sector, which is estimated to account for 30% of GDP, will contribute to China’s growth falling well below the standards of the last decades in 2022 (3.2%) and 2023 (4.0%), contributing to the sharp overall slowdown.

Widespread monetary tightening clearly darkens the outlook for the global construction sector. Industrial metals and timber prices have fallen steadily in recent months, and are down by 20% and 60% respectively since the beginning of the year, leading Coface to downgrade these sectors in several geographical areas.

Danger! Conflicting objectives between fiscal and monetary policies

While central banks are determined to fight inflation with “whatever it takes”, many are faced with a conflict of objectives with the fiscal policy of their country/region. National governments, fighting against the contraction of activity, have indeed multiplied measures to support household purchasing power and corporate cash flow. The outcome will be a potentially explosive cocktail for public finances: a widening public deficit and soaring financing costs.

Click here to download the full barometer

Hashtag: #Coface

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

COFACE: FOR TRADE

With 75 years of experience and an extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Debt Collection, Single Risk insurance, Bonding and Information services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients in 100 countries build successful, growing, and dynamic businesses across the world. Coface helps companies in their credit decisions. The Group’s services and solutions strengthen their ability to sell by protecting them against the risks of non-payment in their domestic and export markets. In 2021, Coface employed ~4,538 people and registered a turnover of €1.57 billion.

For more information, visit