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VinFuture foundation officially launches the call for 2022 VinFuture Prize nominations

HANOI, VIETNAM – Media OutReach – 17 February 2022 – The VinFuture Prize has officially opened the nomination portal for the second season from February 16th until May 17th, 2022. The 2022 season of VinFuture Prize is looking for scientific inventions and innovations that can help revive the world and build up sustainable development after the pandemic. 


 

The Laureates of the VinFuture Grand Prize 2021

Following the success of the inaugural VinFuture Prize with 4 honored breakthroughs in science and technology that can positively impact humanity on a global scale – The second season of the Prize has been launched and welcomed by the international community of science.

 

The focus of the VinFuture Prize’s second season is to honor outstanding scientific innovations that can help reimagine post-pandemic life and stimulate sustainable development. This reflects VinFuture’s consistent vision and mission of  “Science for humanity”. If health protection was the challenge of mankind in 2021, “Reshaping and Reviving” is the imperative that the world needs to cope with in 2022.

 

Centering around the theme of “Reshaping and Reviving”, the second season of the VinFuture Prize hopes to motivate and inspire scientists around the world. Through the Prizes, VinFuture wishes to support people to overcome topical post-pandemic challenges and create positive changes for millions of human lives on earth this year.

Commenting on the outstanding nominations of 2021 and looking forward to this year’s submissions, Prof. Sir Richard Henry Friend – Chair of the VinFuture Prize Council, said: “Last year’s prize awards celebrate very clearly how science and innovation can bring real global benefits for health. However, humankind faces big challenges in many other areas, including natural resource consumption, the move to zero carbon to avoid damaging climate change, and others. This year we want to reach as widely as we can, across disciplines and across continents, to broaden the scope and impact of the VinFuture Prizes in reviving the post-pandemic world.”

 

To be eligible for participating in the VinFuture Prize 2022, the applications are required to meet the nomination criteria* and be nominated by reputable organizations/individuals in the field of science and technology around the world. Nominations will be evaluated in the pre-screening and selection stages by the Pre-screening Committee and the VinFuture Prize Council respectively. Members of the Prize Council and Pre-screening Committee are top global scientists, inventors and laureates of the Nobel Prize, Turing Award, Millenium Technology Prize, and other global awards.

 

Sharing about the expectations for the call for nominations of the second VinFuture Prize season, Prof. Văn-Chí Đặng, Scientific Director of Ludwig Cancer Research Institute (USA) and a member of the VinFuture Prize Council, said: “Science and technology is the answer to the challenges and urgent global problems that people are facing. In order to have more inventions that help change people’s lives regardless of origin, skin color, or ethnicity, for this year’s Prize, we expect to receive more exceptional scientific solutions, in more diverse fields, across more geographical areas, and from scientists regardless of age, gender, or nationality,… with the potential for application on a larger scale.”


The inaugural VinFuture Prize received tremendous support from the global scientific and technological community, with 599 quality nominations from scientists, researchers, and innovators from six continents. The VinFuture Grand Prize, valued at US$ 3 million, was awarded to a group of three scientists: Dr. Katalin Karikó (USA), Prof. Drew Weissman (USA), and Prof. Pieter Cullis (Canada) for the development of mRNA technology, paving the way for the production of effective vaccines to help prevent COVID-19 outbreaks. The VinFuture Special Prize for Innovators with Outstanding Achievements in Emerging Fields was awarded to Prof. Omar Yaghi (USA) for his pioneering work on the discovery and development of metal-organic framework materials (MOFs). The VinFuture Special Prize for Female Innovators was awarded to Prof. Zhenan Bao (USA) for the scientific advancements from her pioneering work on developing skin-inspired organic electronics materials. The VinFuture Special Prize for Innovators from Developing countries was granted to two scientists from South Africa, Prof. Salim Abdool Karim and Prof. Quarraisha Abdool Karim, whose research helps prevent HIV transmission and lessen the burden of the AIDS epidemic.  

 

2022 online nomination portal: https://online.vinfutureprize.org/nomination

 

For more information about the Prize:

 

*The ten major nomination criteria of the VinFuture Prize are:

1.     There should be clear evidence, or potential, for an end-product or service based on the solution, which has an everyday practical application;

2.     Solutions should have already benefited millions of people in the past 10 years for the Grand Prize, or have the potential to benefit millions of people in the next 10 years for the Special Prizes;

3.     Solutions should be aligned with one or more of the United Nation’s SDGs;

4.     Solutions must be scientifically proven (i.e., there should be clear evidence of passing relevant scientific trials, and in the case of research, it must be empirically proven or widely reviewed);

5.     Open to researchers or inventors who were involved in developing the underlying solutions, and not entrepreneurs or corporates who helped in the commercialization/diffusion of the technology;

6.     End-products of the research should benefit people globally, including those from developing and less developed countries, as well as lower-income and disadvantaged communities;

7.     Open to individuals or teams of researchers/inventors;

8.     Preferences are considered for nominees in the active stages of their careers;

9.     A nominator can only nominate one nominee/one group of nominees for each of the four Prize categories.

10.  Research/Solution/Invention can be underpinned in any discipline of science, engineering, or technology, including potentially multi-disciplinary approaches.

About VinFuture Foundation:

The VinFuture Foundation, established on December 20th, 2020 on the occasion of International Human Solidarity Day, is an independent, not-for-profit foundation initiated by Mr. Phạm Nhật Vượng, the Chairman of Vingroup JSC, Vietnam’s leading private conglomerate, and his wife, Mrs. Phạm Thu Hương.


The Foundation was established to honor and facilitate breakthrough scientific research and technological innovations that have already contributed or have the potential to contribute to the betterment of life for millions of human beings globally while creating a more sustainable world for future generations.


The VinFuture Prize consists of four prize categories, of which the Grand Prize – with a value of US$3 million – is one of the largest annual global prizes, and three additional Special Prizes, worth US$500,000 each, are dedicated to Female Innovator(s), Innovator(s) from Developing Country(ies), and Innovator(s) with Outstanding Achievements in Emerging Fields.


In addition, the Foundation also conducts many activities to realize its mission, such as funding research, collaborating in academic development, and promoting STEM education.


#VinFuturePrize

#VinGroup

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

No Covid Deaths in Laos, 323 New Cases Recorded

Savannakhet Covid-19 Update

Laos has recorded no new Covid deaths for the first time in almost three weeks, as cases continue a downward trend.

Laos Foreign Minister Expresses Appreciation for Cambodia’s Efforts in Myanmar Crisis

Laos and Cambodian foreign ministers meet.

Laos has expressed its appreciation of Cambodian Prime Minister Hun Sen’s efforts as ASEAN Chair to make progress on the crisis in Myanmar.

CUHK Business School Research Reveals How Auditor Rotation May Benefit From Guanxi Among Auditors

HONG KONG SAR – Media OutReach – 17 February 2022 – Mandatory audit partner rotation has become a common practice around the world since the Sarbanes-Oxley Act was passed in the U.S. in 2002. Also known as the SOX, the purpose of this act is to protect investors from potential accounting fraud and to improve corporate financial disclosure.

 

(Source: iStock)

The purpose of mandatory auditor rotation is to prevent accounting fraud but the close connections between incoming and outgoing auditors raise questions on the effectiveness of the practice in China

 

The year after the SOX was passed, China’s Securities and Regulatory Commission and Ministry of Finance signed into a regulation requiring listed companies to rotate their auditors regularly. This practice is officially known as mandatory auditor rotation. It aims to prevent audit partners from providing services to a public company for more than five consecutive years, and prohibits the same audit partner from resuming audit services for the same client until a two-year cooling-off period expires.

 

Although 18 years have passed since this regulation was introduced, very little was known about how audit firms actually select audit partners to succeed the previous ones after their five-year engagement. Similarly, very little was known about the economic consequences and the audit quality when audit firms use different rotation strategies concerning the choice of auditors.

 

A group of researchers decided to look into the intricate patterns of auditor rotation practice in China to see whether there were any close network connections between the outgoing and incoming auditors, and what kind of impacts those connections might have on audit quality and auditor performance.

 

The research, titled Network Analysis of Audit Partner Rotation, was conducted by Wu Donghui, Professor at The Chinese University of Hong Kong (CUHK) Business School and its Director of Centre for Institutions and Governance, Prof. Jeffrey Pittman at the Memorial University of Newfoundland, and Lin Wang at the Central University of Finance and Economics.

 

An extensive range of data was gathered for the period 2003-2015. Sources included the China Stock Market and Accounting Research database, A-share companies’ annual reports, IPO prospectuses and a public accountant database compiled by the Chinese Institute of Certified Public Accountants. A total of 4,257 pairs of incumbent-successor auditors were selected for the research, as well as 53,046 pairs of potential candidates who could have been chosen by the companies.

 

Guanxi Ensures Smoother Transitions

 

The researchers found substantial evidence that auditors who shared more teamwork experience with their predecessors were more likely to be selected when the engagements are rotated. In other words, audit firms prefer to consider auditors with professional guanxi (the Chinese concept of social networks) with the outgoing auditors rather than auditors without such connections.

 

Why do audit firms tend to assign the rotated engagements to auditors who are familiar with the outgoing audit partners? Prof. Wu explains that this preference is rooted in audit firms’ pragmatic approach to the transitions between the outgoing and incoming auditors.

 

“An auditor who has worked at a client company for five years is someone who has accumulated quite a lot of knowledge about that particular company. This kind of company-specific knowledge is complex and sometimes tacit and subtle. If this auditor has an existing interpersonal relationship with the incoming auditor, the process of knowledge transfer can be a lot smoother than if a stranger comes onboard,” says Prof. Wu.

“Client companies appreciate that smooth transition because first of all, they don’t have to risk the loss of knowledge after the transition. Second, they don’t need to pay for a tonne of extra billable hours for the incoming auditor to learn the ropes.”

The research found that auditors with an established guanxi with the incumbent auditors are more likely to be assigned to rotations where the companies have more complex accounting needs. In addition, when none of the incoming auditors has any knowledge about the company, candidates who are connected with the incumbent were favored.

 

Guanxi among Auditors May Affect Objectivity

 

While choosing an auditor who is familiar with the outgoing one can be beneficial for companies, this practice raises the questions: Would the guanxi between the pair of auditors make the audit less objective? Wouldn’t this defeat the original intension of the SOX and its application in China?

Prof. Wu admits that these were the concerns of his research team and they decided to find out through their study.

 

“Yes, it’s true that a friendly successor may not closely scrutinize the predecessor’s work and is less likely to catch and correct problems in the auditing process. When the two auditors are closely connected, the audit firms may not be able to benefit from the supposed ‘fresh-eye effect’ of rotating out an auditor after five years, thus potentially defeating the purpose of the partner rotation practice,” he admits.

 

In addition, Prof. Wu points out that the practice of hiring a familiar auditor can be regarded as an act of “favouritism.” This may discourage the incoming audit partner from challenging the outgoing one’s work, thus potentially weakening the objectivity or independence of having a new auditor on the job.

 

According to Prof. Wu, an audit firm may also overlook an incoming auditor’s competence level in the quest to ensure a smooth transition between the outgoing and incoming auditors. This may influence the quality of audits.

 

Better Transitions without Sacrificing Audit Quality

 

The above concerns were put to rest after the research team found that a high level of mutual trust between the auditing pairs not only enhanced the transfer of client-specific knowledge and expertise, but also improved the accuracy of audit reports and client satisfaction after the rotation took place.

 

“Based on our audit-quality analysis, we found no evidence that audit quality suffers when the incoming partners are closely connected to the rotated-off partners,” remarks Prof. Wu.

In fact, Prof. Wu says, the study provides evidence that prior teamwork experience with the incumbent auditors actually increases the successors’ tendency to issue Modified Audit Opinions (MAOs). MAOs are usually issued when there are ongoing accounting or disclosure issues. So when the study found that successors actually issued more MAOs, it implies that the act of hiring “familiar” auditors does not compromise the neutrality and quality of the audits performed by the new auditor.

 

“Our MAO analysis suggests that when the succeeding auditors have a professional guanxi with the incumbent, they actually can provide more accurate warning signals about their clients’ looming financial or accounting problems to the market,” says Prof. Wu.

 

This study contributes to a new, more positive view than existing literature on the subject of mandatory auditor rotation. It has found new evidence that companies do prefer to hire auditors who have an established guanxi with the outgoing auditor. It also provides assurance for audit firms to design their auditor rotation policies in an optimal way so that they can reap the benefits while ensuring a high audit quality.

 

Reference:

 

Pittman, Jeffrey A. and Wang, Lin and Wang, Lin and Wu, Donghui, Network Analysis of Audit Partner Rotation (November 15, 2018). Available at SSRN: https://ssrn.com/abstract=3087491 or http://dx.doi.org/10.2139/ssrn.3087491

 

This article was first published in the China Business Knowledge (CBK) website by CUHK Business School: https://bit.ly/3qO9Vwo

 

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 9 undergraduate programmes and 18 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 2021 Global MBA Ranking, CUHK MBA is ranked 48th. 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 http://www.bschool.cuhk.edu.hk or by connecting with CUHK Business School on:

Facebook: www.facebook.com/cuhkbschool

Instagram: www.instagram.com/cuhkbusinessschool

LinkedIn: www.linkedin.com/school/cuhkbusinessschool

WeChat: CUHKBusinessSchool

#CUHKBusinessSchool

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

Customers Can Now Pre-order the New Samsung Galaxy S22 5G Series with M1 Singapore

Hyped for the new Galaxy S22 series that was just announced by Samsung? With the multinational electronics corporation revealing the new line-up, M1 goes full throttle alongside the smartphone launch. Customers looking to get their hands on the next big flagship equipped with top-notch 5G compatibility and features from Samsung can leverage the exclusive pre-order period rolled out by one of Singapore’s leading digital network operators. Starting from February 17, 2022, at 9:00 AM SGT, customers can pre-order any of the 3 Samsung Galaxy S22 models – S22, S22+, and S22 Ultra 5G.


SINGAPORE – Media OutReach – 17 February 2022 – With the official unveiling of the Galaxy S22 series by Samsung, M1 Limited stays true to its promise of offering customers the opportunity to get the phone they want on their own terms. In addition to exclusive mobile plan promotions and hyper-personalised solutions, existing and new M1 customers can now purchase these revolutionary smartphones online and in-store. Accompanied by flexible Bespoke mobile plans available at unbeatable prices, fervent Android fans can own any of the 3 models in the line-up when the pre-order window goes live.

Epic Upgrades for Everyday Use

 

A year after the release of the Samsung Galaxy S21 5G series, the Samsung Galaxy S22 5G range will make heads turn with its revolutionary functions and notable design upgrades. Featuring Samsung Galaxy S22, Galaxy S22+, and Galaxy S22 Ultra, the series boasts swanky colours such as Phantom Black, Phantom White, and Green. The Galaxy S22 and S22+ models also come in Pink Gold, while the S22 Ultra 5G is available in a unique Burgundy tone.

 

Presenting enhanced camera quality with its Galaxy Pro-Grade multi-camera system, its intelligent battery capabilities, and faster display refresh rates only add to its ability to deliver performances unlike any other. Every photographer’s dream, the S22 and S22+ 5G boasts a rear camera setup featuring a 12MP Ultra Wide, 50MP Wide-angle, and 10MP Telephoto camera. The Samsung S22 Ultra 5G comes with massive pixel sensors in addition to its 12MP Ultra Wide, 108MP Wide-angle, 10MP 3X and 10MP 10X Optical Zoom Telephoto cameras on the back. Also built with a new 5G-compatible chipset to support hyper fast True 5G speeds, the new Galaxy S series pushes the limits of smartphone technology at mind-blowing proportions.

 

All the Power & Freedom You Can Carry

 

With M1, customers can leverage the selection of Bespoke plans for optimal flexibility. Boasting all 3 Samsung Galaxy S22 models, Samsung fans can choose either the Bespoke Flexi and Bespoke Contract plans to enjoy upfront payments as low as $0 and instalment periods between 12 to 36 months, all with no hidden fees. In addition to the range of mobile add-ons, to experience the wonders of high-speed connectivity, customers can subscribe to the 5Go Plus Booster pack to lead their digital life at True 5G speeds.

 

Hold the Galaxy in Your Hands with M1 Today

 

Pre-order for the new S Series launch, along with fantastic perks, will open to existing and new subscribers on February 17, 2022. Head online for exclusive pre-order access today before availability on March 4.

About M1

M1, a subsidiary of Keppel Corporation, is Singapore’s first digital network operator, providing a suite of communications services, including mobile, fixed line, and fibre offerings to over two million customers.

Since the launch of its commercial services in 1997, M1 has achieved many firsts – becoming one of the first operators to be awarded one of Singapore’s two nationwide 5G standalone network licences, being the first operator to offer nationwide 4G service, ultra-high-speed fixed broadband, fixed voice, and other services on the Next Generation Nationwide Broadband Network (NGNBN).

M1’s mission is to drive transformation and evolution in Singapore’s telecommunications landscape through cutting-edge technology and its made-to-measure offerings. For more information, visit www.m1.com.sg

Facebook: https://www.facebook.com/m1limited

LinkedIn: https://www.linkedin.com/company/m1-limited

Instagram: https://www.instagram.com/m1.sg

Twitter: https://twitter.com/m1singapore

#M1

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

OPPO to Launch its Flagship Find X5 Series on 24 February 2022

  • Find X5 series is the first to feature OPPO’s self-designed NPU MariSilicon X
  • Find X5 Pro will feature Snapdragon® 8 Gen 1 Mobile Platform

CHINA, SHENZHEN – Media OutReach – 17 February 2022 – The pioneering smart device brand, OPPO, today announced the launch of its high-end flagship smartphone with world-first imaging experiences – OPPO Find X5 series.

 

OPPO marries breathtaking high-end design with best-in-class technology and camera innovation. Join OPPO and #EmpowerEveryMoment at the global Find X5 Series launch event, to be streamed live via OPPO’s official channel on 24 February 2022 at 11:00 GMT/19:00 GMT+8.

 

At OPPO INNO Day 2021, OPPO announced MariSilicon X, the dedicated imaging Neural Processing Unit, which overcomes smartphone video capture’s greatest challenge – nighttime recording. Taking quality to new heights with its cutting-edge 6nm architecture, real-time RAW processing, and up to 20x faster 4K AI performance – Find X5 Pro shines a light on the night.

 

Powered by the latest-generation, multicore Snapdragon 8 Gen 1 processor, the Find X5 Pro stays cool under pressure and is supercharged to handle the most demanding games and applications. On the outside, it embodies a futuristic design to express a sense of calm and timeless beauty. With an ultra-hard, true ceramic back, the Find X5 Pro achieves clean, modern sophistication while creating a surface texture that reduces fingerprints, and follows a perfectly-smooth, uniform incline to gently cushion the camera module.

 

With unrivalled night shooting capabilities, the high-end 5G flagship Find X5 Pro builds on the core DNA that makes OPPO a hit with consumers and critics alike. With a futuristic aesthetic, new ColorOS, world-class performance, ultra-fast connectivity and a camera system that’s out of this world, Find X5 Pro raises the bar for smartphones.

 

Join the global online launch event to #EmpowerEveryMoment on Thursday February 24th at 11:00 GMT/19:00 GMT+8 on OPPO’s official channel.

 

About OPPO

OPPO is a leading global smart device brand. Since the launch of its first mobile phone in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find and Reno series. Beyond devices, OPPO provides its users with the ColorOS operating system and internet services like OPPO Cloud and OPPO+. OPPO operates in more than 40 countries and regions, with 6 Research Institutes and 5 R&D Centres worldwide, as well as an International Design Centre in London. More than 40,000 of OPPO’s employees are dedicated to creating a better life for customers around the world.

#OPPO

ARISTA Biotech Plans Hong Kong Cleanroom Production Plant for COVID-19 Rapid Test Kits; Donates 15,000 Packs to Groups in Need

HONG KONG SAR – Media OutReach – 17 February 2022 – ARISTA Biotech Pte Ltd (“ARISTA”) today announces it plans to set up a production facility with cleanroom environment in Hong Kong for the manufacturing of COVID-19 antigen rapid testing kits to help meet rapidly-increasing local demand.

The company is also working with the Hong Kong government to donate at least 15,000 of its rapid testing kit to facilities including elderly homes, schools, and hospitals, and other public institutions. Since its founding in 2020, ARISTA and its partners have received approval and sold over 100 million testing kits in countries and regions including the United Kingdom, Germany, Australia, Italy, Hong Kong, Singapore and many other European and Southeast Asian countries.

The new production facility, which will employ about 100 staff, is expected to be in operation by the third quarter and will produce as many as 2 million packs a month. ARISTA Biotech currently manufactures the testing kits from its home market Singapore and other locations. Over the past month the company has sold more than 500,000 kits in Hong Kong and it expects sales in the city to reach 10 million kits for the full year of 2022.

“Hong Kong is now entering a critical phase in its fight against the pandemic, and we want to do our part to help,” said Eric Tang, Co-founder and Chief Executive Officer for Hong Kong at ARISTA. “The donation program will provide immediate relief to those groups that are most in need. In the longer term, by setting production facility locally, we are giving ourselves more flexibility and agility to adjust production according to public needs, while minimizing logistical issues.” 

About the ARISTA Rapid Test Kit:

The ARISTA COVID-19 Antigen Rapid Test is confirmed to be able to detect over 400+ variants, including Alpha, Beta, Gamma, Delta, Delta Plus, Lambda, and Omicron with similar sensitivities. The kit is available at most major pharmacies, supermarkets and other retail locations in Hong Kong.

About ARISTA Biotech Pte. Ltd


Founded in 2020 by two pharmaceutical industry veterans, ARISTA Biotech develops and manufactures COVID-19 antigen test kits, along with other innovative diagnostic technologies, products, and “big data” analytics for novel disease management. With offices in Singapore and Hong Kong, the company has sold more than 100 million COVID antigen test kits globally since late 2020. The kit is now approved and sold in over 10 countries and regions, including the United Kingdom, Germany, Italy, Australia, Hong Kong, Singapore and other European and southeast Asian countries.

For more information, please visit https://aristabio.com/

#ARISTA

Vietnam to Reopen International Tourism From 15 March

Vietnam to reopen to tourism in March

The Vietnamese government agreed on Wednesday to restart inbound and outbound tourism under new normal conditions beginning 15 March.