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Young Lao Gamers Win Bronze at World Esport Competition

Lao Esport team (Photo: Lao Esport Federation).

The Lao Esports Federation team was placed third in the Dota 2 competition at the International Esports Federation (IESF) 14th World Esports Championship 2022 in Bali, Indonesia on Saturday.

Laos Labor Ministry Reports Employment Rate of Over 97 Percent

Lao construction workers.

The Minister of Labor and Social Welfare provided information on the labor market in the recent National Assembly session on Friday, revealing that 2.4 million, or 97.6% of all eligible people, are now employed.

CPA Australia: Half of accountants tip stronger Hong Kong economy amid property price falls

  • Majority in survey forecast Hong Kong’s economy to grow or remain unchanged in 2023
  • Over half of accounting and finance professionals bracing for property price falls
  • Forty-three per cent predict company revenue growth

HONG KONG SAR – Media OutReach – 13 December 2022 – Almost half of finance and accounting professionals are cautiously optimistic about Hong Kong’s economic future with 47 per cent expecting GDP growth in 2023, a new survey from CPA Australia shows.

cpa-image.jpg
(from left to right)
Mr Cliff Ip FCPA (Aust.) – Divisional Deputy President 2022, CPA Australia – Greater China
Mr Eden Wong FCPA (Aust.) – Divisional President 2022 and Chairman of Financial Services Committee, CPA Australia – Greater China
Mr Samuel Lung FCPA (Aust.) – Divisional Deputy President 2022 and Deputy Chairperson of Continuing Professional Development Committee, CPA Australia – Greater China
Mr Robert Lui FCPA (Aust.) – Divisional Councillor 2022, CPA Australia – Greater China

Thirteen per cent expect the economy will remain stable in 2023. CPA Australia’s latest survey on Hong Kong’s economic and business outlook forecasts a potential economic bounce back from 2022’s contraction.

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“After managing through a difficult year and facing an uncertain global economic environment next year, our respondents are cautiously optimistic,” CPA Australia 2022 Divisional President of Greater China Eden Wong FCPA said.

“Forty-seven per cent of respondents believe that Hong Kong’s economy will grow. The easing of COVID restrictions domestically and Hong Kong’s reconnection with the world have contributed to this confidence boost.”

Respondents were less positive about the property market, with more than half expecting price falls in 2023. Meanwhile, 59 per cent expect tourism-reliant retail property values to decline.

“The government could consider reviewing the extra stamp duties on property transactions and setting out plans to boost tourism.”

Business sentiment is improving, with 43 per cent of respondents predicting their company’s revenue will grow in 2023. However, some expect a challenging year ahead. More than one in five forecast their company’s revenue will decline next year.

Many businesses are planning a prudent approach with a focus on efficiency and cost management. Four-in-ten expect their company will freeze headcount while 31 per cent expect an increase. Forty-seven per cent expect their salaries will grow in 2023. Talent shortages (42 per cent) will be the biggest test for businesses in 2023, followed by policy and regulatory changes (32 per cent) and weak demand (30 per cent).

“Hong Kong businesses have shown high levels of resilience in the face of adversities, but many of these challenges will persist next year.”

“It’s essential to quickly resume restriction-free cross-border travel and return to normal economic activity as soon as possible. Many neighbouring economies are aggressively luring investors and talent. Hong Kong should be taking advantage of its competitive advantages, including its super-connector status, to avoid lagging our competitors. Measures unveiled in the Chief Executive’s Policy Address to attract businesses and talent to Hong Kong are a good step.

“We shouldn’t underestimate the impacts of policy and regulatory changes at home and abroad on Hong Kong. For example, COVID-related travel restrictions, changes in accounting standards and developments in the international tax space. We suggest the government and regulators to engage frequently with stakeholders on policy consultation ensure changes are effective.”

More than half of respondents believe strengthening Hong Kong’s position as an international financial centre will improve its international competitiveness. While low and simple tax system is the biggest advantage to strengthen this role in the next three years.

“To consolidate the city’s position as an international finance centre, Hong Kong should continue strengthening its international ties. We expect Hong Kong to join the Regional Comprehensive Economic Partnership and sign more free trade agreements with other jurisdictions.

“We also look forward to seeing investment and talent-attraction initiatives from the Office for Attracting Strategic Enterprises. We urge the government to introduce more measures to unleash the potential of emerging sectors such as green and sustainable finance and further support innovation and technology.”

The survey respondents included 210 Hong Kong-based accounting and finance professionals.

Hashtag: #CPAAustralia

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

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 170,000 members in over 100 countries and regions, including more than 22,200 members in Greater China. CPA Australia has been operating in Hong Kong since 1955 and opened our Hong Kong office in 1989. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at

Laos Sees a Trade Deficit of USD 230 Million in October

Workers load Thai goods for sale in Laos onto a Laotian-flagged ship at a pier in Mukdahan province. | (photo: PATTARAPONG CHATPATTARASILL)

Laos recorded a trade deficit of USD 230 million in October, according to the latest information from the Lao Trade Portal.

Kenanga Group Wins 3 Awards At The UN Global Compact Malaysia-Brunei Sustainability Performance Awards

KUALA LUMPUR, MALAYSIA – Media OutReach – 13 December 2022 – Kenanga Investment Bank Berhad (“Kenanga Group” or “The Group“) was presented with three awards at the coveted United Nations Global Compact Network Malaysia & Brunei (“UNGCMYB“) Sustainability Performance Awards 2022.

From left to right: Ismail Harith Merican, Non-Independent Non-Executive Director of Kenanga Investment Bank Datuk Wira Ismitz Matthew De Alwis, Chief Executive Officer of Kenanga Investors Berhad Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Chuah Sze Phing, Group Chief Sustainability Officer and Head of Group Marketing and Communications Norazian Binti Ahmad Tajuddin, Independent Non-Executive Director of Kenanga Investment Bank Kanagaraj Lorenz, Independent Non-Executive Director of Kenanga Investment Bank Faroze Nadar, Executive Director of United Nations Global Compact Network Malaysia & Brunei
From left to right:
Ismail Harith Merican, Non-Independent Non-Executive Director of Kenanga Investment Bank
Datuk Wira Ismitz Matthew De Alwis, Chief Executive Officer of Kenanga Investors Berhad
Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank
Chuah Sze Phing, Group Chief Sustainability Officer and Head of Group Marketing and Communications
Norazian Binti Ahmad Tajuddin, Independent Non-Executive Director of Kenanga Investment Bank
Kanagaraj Lorenz, Independent Non-Executive Director of Kenanga Investment Bank
Faroze Nadar, Executive Director of United Nations Global Compact Network Malaysia & Brunei

Kenanga was awarded for:

  • Partnership for the Goals Recognition
  • Sustainable Product Recognition
  • Sustainability Awareness and Employee Engagement Recognition

“We would like to thank United Nations Global Compact Network for the awards and ongoing support. They serve as an encouragement for the Group to further strengthen our commitment and excellence towards sustainability,” commented Datuk Chay Wai Leong, Group Managing Director, Kenanga Group.

“We still have a long way to go and we look forward to continue advancing our sustainability strategy in the years to come – one that delivers prosperity together with meaningful outcome for people and planet,” added Datuk Chay.

UNGCMYB’s Executive Director, Faroze Nadar remarked, “We are proud to have accountable businesses as part of UNGC global network. Kenanga Group has done much to advance sustainability in their industry and we are pleased to recognise their efforts. Congratulations Kenanga and we hope this will inspire other financial institutions to be change agents for a sustainable nation”.

The Group was awarded for its launch of sustainable products, which cover the Kenanga Sustainability Series – a suite of multi-asset class products rooted in sustainability considerations to advance long-term financial growth for investors and to generate social and financial value for surrounding communities.

In addition, the Group was also recognised for its effort for sustainability awareness and employee engagement. In accelerating group-wide capacity building, 95% of its workforce nationwide completed the UN Global Compact’s introduction to sustainability e-learning modules, on top of desk-top quizzes. The Group also actively engage its employees through various sustainability awareness programmes such as #GreenAtHome, a month-long interactive event for the last 6 consecutive years to raise environmental awareness.

The Partnerships for Goals award was derived from the Group’s collaborations with various organisations to drive the different aspects of sustainability.

“This year, as we focus on expanding financial inclusion through digitalisation, we joined hands with the Ant Group to develop Malaysia’s first wealth SuperApp, which is engineered to provide access to the world of investing to millions of Malaysians,” said Datuk Chay Wai Leong, Group Managing Director, Kenanga Group.

In terms of partnerships within the community, the Group drives the award-winning programme – the HumanKind Project – designed to empower social enterprises such Café Includes, a café run by people with disabilities under the Dialogue Includes All Academy, as well as, Silent Teddies Bakery an enterprise run by a group of talented hearing-impaired bakers.

With over a decade of support towards these social enterprises, the Group continues to raise funds, generate awareness, and volunteer assistance to bring about positive change and improvements to the under-privileged individuals and families.

Hashtag: #Kenanga

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

About the UNGCMYB Sustainability Performance Awards

The Sustainability Performance Awards programme was initiated by UN Global Compact Network Malaysia & Brunei to recognise the continuous efforts of all its Participants and to inspire others to make sustainability an integral part of their business strategies. For more information on the awards, please visit .

For more information on Kenanga Group, please visit .

About Kenanga Investment Bank Berhad (15678-H)

Established for more than 45 years, Kenanga Investment Bank Berhad (the Group) is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing with strong foundations in regulatory compliance and risk management.

An innovative and established home-grown brand, the Group’s digital ambition includes building a robust digital ecosystem that meets the needs of its clients and businesses. Some of its game-changing products include Malaysia’s fully online digital stockbroking platform Rakuten Trade and a fully A.I. robo-advisor, Kenanga Digital Investing. The Group also launched Malaysia’s first securities broking e-wallet, Kenanga Money, paved the way in AI-led Quan and algorithmic trading, kick-started a revolutionary supply chain financing solution for SMEs and made inroads into the digital assets space through its investment in Tokenize Technology (M) Sdn. Bhd.

The Group has garnered a host of awards and accolades reflecting its strong market position. It was awarded under the categories of Highest Returns to Shareholder Over Three Years, Best Overall Equities Participating Organisation by Bursa Malaysia, Best Overall Derivatives Trading Participant, Best Structured Warrant Issuer, Best Retail Equities Participating Organisation, Best Institutional Equities Participating Organisation Investment Bank; along with Best Trading Participant and Best Institutional Equities Participating Organisation and for Equity and Financial Derivatives for 18 consecutive years. The Group was also accorded the title of Best Institutional Derivatives Trading category by Bursa Malaysia.

The Group continues to be a regular and repeat recipient of distinguished industry accolades, such as the Lipper, Fundsupermart and Morningstar awards. Rakuten Trade, Malaysia’s first fully digital securities broker in 2017 via a joint venture with Japanese fintech giant Rakuten Securities Inc was also named Malaysia’s fintech company of the year in 2018 by the Malaysian Communications and Multimedia Commission (MCMC). For its continued efforts towards community outreach and employee volunteerism, the Group was awarded the coveted Company of the Year award for environmental and sustainability at Sustainability & CSR Malaysia Awards 2021. The Group is also a Participant of the United Nations Global Compact and adheres to its principle-based approach to responsible business.

Today, Kenanga Investment Bank Berhad is an award-winning leading independent investment bank in the country with a continuous commitment to driving collaboration, innovation, digitalisation, and sustainability in the marketplace.

Police Crackdown on Almost 5,000 Drug Cases in 11 Months

A joint drug bust between Thailand, Myanmar, Vietnam, Laos and Cambodia resulted in the seizure of more than 32 million methamphetamine pills | Photo credit: Reuters

Lao authorities revealed in a meeting on Thursday at the National Assembly of Laos that local police have succeeded in solving 4,407 drug cases until November this year.

China’s economy is recovering well, recovery expected to accelerate next year, finds KPMG China analysis

HONG KONG SAR – Media OutReach – 13 December 2022 – KPMG China released its China Economic Monitor report for Q4 2022. According to the report, China’s economy grew by 3.0% year-on-year (yoy) in the first nine months of 2022, with Q3 growing by 3.9%, 3.5 percentage points higher than Q2, and better than market expectations. From a quarter-on-quarter (qoq) perspective, the economy grew by 3.9% in the third quarter, a significant improvement over the -2.6% growth rate in the second quarter. “We expect China’s economy to accelerate its recovery in 2023,” said Kevin Kang, Chief Economist of KPMG China. “Pandemic repercussions, downturn in the real estate market and change in international geopolitics are a few of the factors that slowed GDP growth in Q2. However, stable government policy continued to support the recovery in Q3, and China’s economy continues to show resilience.”

China’s National Health Commission (NHC) released a circular in early November 2022, announcing 20 new measures to further optimise the Covid-19 control measures. In addition, the government released a new 10-point plan in early December to further ease Covid curbs. The new measures include steps that will make it easier for overseas travellers to enter the Chinese mainland, such as shortening quarantine time and removing the indirect contact and medium risk areas related rules, amongst others. More fine-tuning is expected in the next couple of months to effectively contain the virus while minimising its impact on economic and social development.

In the first three quarters of 2022, the accumulated industrial value-added saw solid growth by 3.9% yoy, up by 0.5 percent point compared to the first half of 2022, Q3 industrial value-added increased by 4.8% yoy.

China’s overall consumption recovered slowly due to the resurgence of Covid-19 infections in some areas of China, and the accumulated growth of total retail sales in the first three quarters grew by 0.7% yoy, up by 1.4 percent points compared to the first half of 2022. In terms of retail sales, due to the recovery of production and supply chain and introduction of stimulus policies such as the reduction of vehicle purchase tax, automobile consumption grew by 18.2% yoy in Q3, a solid growth compared to Q2 and the main driver of consumption. In addition, household goods sales remain strong, and the accumulated sales of retail goods increased by 1.3% yoy, up by 1.2 percent points compared to the first half of 2022. However, the pandemic has posed an impact on consumer confidence, the recovery of the catering sector remained anaemic, falling by 1.7% in September,10 percentage points lower than that in August. The overall recovery of the consumer markets still needs to be consolidated.

Investment in fixed assets increased by 5.9% yoy for the first three quarters of 2022, Q3 was up by 5.6%, an increase of 1.1 percent points compared to Q2. With better weather conditions and accelerating infrastructure construction, industrial production showed a rebound in Q3, and infrastructure investment grew by 14.6% yoy.

Affected by a higher base, and considerably weighing on global demand, China’s export growth rate fell for three consecutive months, with October exports falling 0.3% yoy. Due to the increased risk of recession in the US and the US consumer recovery from goods to services, the growth rate of China’s exports to the US yoy turned negative since August, down 12.6% yoy in October. In addition, the growth rate of exports to the EU in Q3 also fell, down 9.0% yoy in October, which in turn hindered exports. It is worth noting that the Regional Comprehensive Economic Partnership (RCEP), which officially took effect this year, has had a positive effect on China’s trade with the relevant countries. China’s exports to ASEAN are still growing strong, and for six consecutive months since May have maintained a growth rate of more than 20%, becoming the main contribution to exports.

On the import side, China’s total imports in Q3 were basically unchanged from last year, however, the yoy growth rate turned negative in October. On the one hand, the fall in commodity prices lowered the number of imports, and on the other hand, it also reflected that domestic demand remains weak. Looking ahead, the continued slowdown in external demand has led to increased downward pressure on exports in Q4. However, against the backdrop of high global inflation and geopolitical conflicts, the cost advantage of Chinese products and the advantage of the industrial chain will enable China’s export growth to remain resilient

China’s monetary policy continues to support economic growth, and its stance will continue as accommodative in the next phrase. On the aggregate side, it will provide a reasonable abundance of liquidity and increase credit support to the real economy. On the structural side, China will step up its direct credit support in a policy package which includes special relending facilities, benefiting small and medium enterprises, the green finance sector, technology, as well as and the elderly care industry.

Hashtag: #KPMGChina

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

Value Partners launches Hong Kong’s first asset management App — “Value Partners Invest”

Bringing the city’s asset management services to a new era: Make investing much faster, simpler and more convenient

HONG KONG SAR – Media OutReach – 13 December 2022 – Value Partners Group Limited (together with its subsidiaries, “Value Partners” or “the Group”, Hong Kong Stock Code: 806) is pleased to announce that the group has launched its first mobile application – “Value Partners Invest”, which helps users to easily build their own portfolios using Value Partners’ diversified range of funds to capitalize investment opportunities in Asia.

The new “Value Partners Invest” App enables users to build and rebalance their portfolios using any Value Partners’ public funds and trade anytime. The App can also help users to monitor portfolios’ performance, stay ahead of fast-moving markets and make better investment decisions by accessing the latest market insights and analysis.

As an asset management company rooted in Hong Kong for 29 years, Value Partners constantly innovates to bring more values to our clients and to advance the development Hong Kong asset management industry. With the launch of “Value Partners Invest”, the Group is the first asset management firm in the city to bring users a digital investment experience through a mobile App.

Ms. June Wong, Chief Executive Officer of Value Partners, said: “We are very excited to launch “Value Partners Invest” today as part of the Group’s long-term strategy to capture the opportunities from increasing digital wealth management needs in Asia. We believe that the App can help investors to better leverage Value Partners’ nearly 30-year investing experience in Asia to grow their wealth, and also help the Group to develop a broader and younger customer base. This is only our first step – we will continue to enhance the application with more functions and digital services to provide an enjoyable experience for our clients to create successful investment results.”

“Value Partners Investment” app is officially launched on Apple Store and Google Play, please visit https://www.valuepartners-group.com/vp-invest-app/en/index.html for details of plans and offers.

Hashtag: #ValuePartners

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

About Value Partners Group Limited

Value Partners, one of Asia’s leading independent asset management firms, seeks to offer world-class investment services and products. Since its establishment in 1993, the Company has been a dedicated value investor in Asia and around the world. In November 2007, Value Partners Group became the first asset management firm to be listed on the Main Board of the Hong Kong Stock Exchange (Stock code: 806 HK). In addition to its Hong Kong headquarters, the firm operates in Shanghai, Shenzhen, Kuala Lumpur, Singapore and London. Value Partners’ investment strategies cover equities, fixed income, multi-asset, alternatives, real estate and quantitative investment solutions, for institutional and individual clients in the Asia-Pacific, Europe and the United States. Value Partners is also one of the leaders in ESG investing in Greater China and is committed to developing its ESG capabilities further. For more information, please visit .