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Celebrate With Huge Savings on Beauty & Alcohol With iShopChangi’s Attractive Promotions Lined Up Till June

SINGAPORE – Media OutReach – 11 May 2022 – Shop for your favourite alcohol and beauty products this May and June with two of iShopChangi‘s greatest promotions yet! Give yourself the pampering you’ve been waiting for with huge savings on iShopChangi’s beauty products, and liven up the party with massive discounts on selected duty-free alcohol storewide.

Not one, but two iShopChangi promotions are available to you throughout May and June this year. Travellers and non-travellers can enjoy discounts and celebrate with international best-selling liquor and beauty products.

Drink Around the World

From 6 May to 5 June, join iShopChangi and celebrate Drinks Around The World! Shake 8% off your total cart value with a minimum spend of S$100 using the promo code <BOOZE8> (discount capped at S$50). For more savings, enjoy 15% off when you check out with a minimum S$250 using the promo code <BOOZE15> (discount capped at S$80). You can buy a bottle of Edinburgh Gin for S$70.76, saving 43% off the original price of S$124.61. Or, get a bottle of Penfolds Bin 150 Marananga Shiraz, for just S$90. Originally worth S$117.24, you’ll save 23% off already GST-absorbed prices at checkout. You must be of legal age to shop for alcohol on iShopChangi – enjoy responsibly!

Beauty Around the World

Take home your favourite beauty products and essentials at amazingly discounted prices with iShopChangi’s Beauty Around the World campaign! From 9 May to 2 June, snap up vouchers like S$20 off a minimum spend of S$180 when you key in the promo code <BEAUWORLD20>. Cart out with a minimum of S$400 and save S$50 when you apply <BEAUWORLD50>. Buy a La Mer Ritual Hydration Beauty Set for just S$255, down from an original price of S$306, or the Ést.Lab Eye Spa On-The-Go Beauty Set for S$106, discounted by 15% from S$124.

Discounts for Travellers and Non-Travellers

Travelling through Changi Airport? There’s no better time to shop on iShopChangi. Make your purchase 30 days in advance and up to 12 hours before your arriving or departing flight, and your products will be ready for pick up at our Collection Centres within the departure hall in every terminal or delivered to you if you are arriving in Singapore. Lock in the promo code <FLY7> to receive 7% off before 22 December, with a discount capped at S$50 and no minimum spend.

If you’re not travelling, iShopChangi remains Singapore’s number one destination for revelling in the best deals and discounts islandwide. Shop tax and duty-free prices even without flying, and have your products delivered to Singaporean residential addresses for free when you spend S$59 or more at the checkout! Lock in the promo code <VESAK3XGST> to receive 14% off S$400 before 18 May, with a discount capped at S$100.

More Deals on iShopChangi

There’s never an end to the celebration when it comes to iShopChangi. Sign up with Changi Pay for free to make the most of a S$5 Welcome Voucher, and join Changi Rewards – also for free – to receive 10% off your first purchase after registration! As with all promotions, redemption caps, product exclusions and T&Cs apply.

About iShopChangi

iShopChangi was launched in 2013 as an extension of Changi Airport’s promise to deliver greater comfort and convenience to travellers in its suite of airport retail offerings. Passengers can browse and purchase tax- and duty-free products across all terminals between 30 days to 12 hours pre-flight on the e-store – and choose to collect their items at Collection Centres within departure, upon arrival or have them delivered free in Singapore. Providing easy access to over 30,000 products across 900 brands and exclusives such as Changi First product launches, the site has since received global recognition with its award for Best Website – Retail Customer Facing at The Moodies: the Airport and Travel Retail Digital Media Awards 2018. In early 2020, the e-commerce store started to retail a selection tax- and duty-absorbed products to Singapore-based residents without the need to fly.

#iShopChangi

Celebrate With Huge Savings on Beauty & Alcohol With iShopChangi’s Attractive Promotions Lined Up Till June

SINGAPORE – Media OutReach – 11 May 2022 – Shop for your favourite alcohol and beauty products this May and June with two of iShopChangi‘s greatest promotions yet! Give yourself the pampering you’ve been waiting for with huge savings on iShopChangi’s beauty products, and liven up the party with massive discounts on selected duty-free alcohol storewide.

Not one, but two iShopChangi promotions are available to you throughout May and June this year. Travellers and non-travellers can enjoy discounts and celebrate with international best-selling liquor and beauty products.

Drink Around the World

From 6 May to 5 June, join iShopChangi and celebrate Drinks Around The World! Shake 8% off your total cart value with a minimum spend of S$100 using the promo code <BOOZE8> (discount capped at S$50). For more savings, enjoy 15% off when you check out with a minimum S$250 using the promo code <BOOZE15> (discount capped at S$80). You can buy a bottle of Edinburgh Gin for S$70.76, saving 43% off the original price of S$124.61. Or, get a bottle of Penfolds Bin 150 Marananga Shiraz, for just S$90. Originally worth S$117.24, you’ll save 23% off already GST-absorbed prices at checkout. You must be of legal age to shop for alcohol on iShopChangi – enjoy responsibly!

Beauty Around the World

Take home your favourite beauty products and essentials at amazingly discounted prices with iShopChangi’s Beauty Around the World campaign! From 9 May to 2 June, snap up vouchers like S$20 off a minimum spend of S$180 when you key in the promo code <BEAUWORLD20>. Cart out with a minimum of S$400 and save S$50 when you apply <BEAUWORLD50>. Buy a La Mer Ritual Hydration Beauty Set for just S$255, down from an original price of S$306, or the Ést.Lab Eye Spa On-The-Go Beauty Set for S$106, discounted by 15% from S$124.

Discounts for Travellers and Non-Travellers

Travelling through Changi Airport? There’s no better time to shop on iShopChangi. Make your purchase 30 days in advance and up to 12 hours before your arriving or departing flight, and your products will be ready for pick up at our Collection Centres within the departure hall in every terminal or delivered to you if you are arriving in Singapore. Lock in the promo code <FLY7> to receive 7% off before 22 December, with a discount capped at S$50 and no minimum spend.

If you’re not travelling, iShopChangi remains Singapore’s number one destination for revelling in the best deals and discounts islandwide. Shop tax and duty-free prices even without flying, and have your products delivered to Singaporean residential addresses for free when you spend S$59 or more at the checkout! Lock in the promo code <VESAK3XGST> to receive 14% off S$400 before 18 May, with a discount capped at S$100.

More Deals on iShopChangi

There’s never an end to the celebration when it comes to iShopChangi. Sign up with Changi Pay for free to make the most of a S$5 Welcome Voucher, and join Changi Rewards – also for free – to receive 10% off your first purchase after registration! As with all promotions, redemption caps, product exclusions and T&Cs apply.

About iShopChangi

iShopChangi was launched in 2013 as an extension of Changi Airport’s promise to deliver greater comfort and convenience to travellers in its suite of airport retail offerings. Passengers can browse and purchase tax- and duty-free products across all terminals between 30 days to 12 hours pre-flight on the e-store – and choose to collect their items at Collection Centres within departure, upon arrival or have them delivered free in Singapore. Providing easy access to over 30,000 products across 900 brands and exclusives such as Changi First product launches, the site has since received global recognition with its award for Best Website – Retail Customer Facing at The Moodies: the Airport and Travel Retail Digital Media Awards 2018. In early 2020, the e-commerce store started to retail a selection tax- and duty-absorbed products to Singapore-based residents without the need to fly.

#iShopChangi

Laos Sends First Gymnast to SEA Games in Hanoi

Praewa Misato Philapandeth, young rhythmic gymnast.

Laos will send its first rhythmic gymnast to the 31st Southeast Asian Games in Hanoi, Vietnam.

7CAFÉ hits milestone of 600 stores! Hong Kong’s largest coffee network launches exciting activities for customers to join the fun!

HONG KONG SAR – Media OutReach – 11 May 2022 – 7-Eleven’s own brand 7CAFÉ provides customers with freshly brewed coffee that is quick, convenient, good quality and affordable. This April, 7CAFÉ reached the major milestone of 600 stores! With the largest number of outlets in Hong Kong, 7CAFÉ is the biggest coffee network in town offering “a cuppa round every corner”! So whether you’re on your way to work or heading to class, you always know you’ll be able to enjoy a cup of good quality, freshly brewed coffee on the go anytime, anywhere!

To mark this milestone, 7CAFÉ is launching a series of exciting promotions and activities! These include the “Make Your Own Good Coffee” Sure-Win Lucky Draw Game and the introduction of two all-new 600 stores limited-edition Ginger flavour drinks, Ginger Latte and Ginger Flavoured Milk, so all its customers can join in on the fun!

“Make Your Own Good Coffee” Sure-Win Lucky Draw Game^

“Make Your Own Good Coffee” will last for six consecutive days from 11 to 16 May, with an unprecedented 600 free cups of coffee up for grabs every hour! In the game, step into the shoes of a 7CAFÉ barista and experience the fun of making your own cup of great quality, freshly brewed 100% Arabica coffee according to the “golden ratio”! At the start, the game will select a popular 7CAFÉ coffee drink – a Café Latte, Cappuccino or Flat White – for the player to make. Coffee and fresh Australian milk will start flowing from the 7CAFÉ coffee machine. Players then need to use their skill and dexterity to tap the coffee and milk buttons on the left and right of the screen at just the right time to stop the flow to make the perfect cuppa!

After successfully preparing your cup of 7CAFÉ coffee in line with the ‘golden ratio”, you can then enter a lucky draw for a chance to win a 7CAFÉ Free Drink E-Coupon. Then head to your nearest 7CAFÉ store to redeem and chill out with your own real cup of great tasting coffee!

600 Stores Limited-Time New Flavours – Ginger Latte & Ginger Flavoured Milk*

To mark its milestone of 600 stores, 7CAFÉ has specially created a pair of all-new, innovative drinks – Ginger Latte and Ginger Flavoured Milk (Hot $14, Iced $16) – inspired by the familiar flavours of Hong Kong-style dessert Ginger Milk Curd to bring its customers a whole new coffee experience! The Ginger Latte is the perfect blend of zesty ginger flavours, aromatic freshly ground 100% Arabica coffee and high-quality Australian milk. 7CAFE’s rich and creamy Ginger Flavoured Milk is perfectly balanced and full of flavour, delivering a totally new yet uniquely Hong Kong taste sensation.

7CAFÉ is also giving its coffee cups a makeover with an exclusive 600 Stores limited-time design. Featuring the super cute Gullu Gullu coffee bean characters, the colourful design will be sure to brighten up your day! From now until 17 May, customers can use an e-coupon* to try the drinks at a special price of $10** for a limited time only to share in the joy of our 600 stores together!

**Download e-coupon: https://bit.ly/3vKd9SL

^The game will start on 11 May (7am). During the promotion period, visit the game site www.7cafe-minigame.com and follow the instructions to complete the challenge and enter the lucky draw. After registering a Hong Kong mobile phone number, you will receive a text message (SMS) on your mobile phone within one working day to obtain a link to your “7CAFÉ Free Drink E-Coupon” or “7CAFÉ $10 Special Price Coupon”. The “Make Your Own Good Coffee” Lucky Draw Game will give out 600 “7CAFÉ Free Drink E-Coupons” every hour, so you have a great chance of winning! Over the whole promotion period, each registered phone number can only win a maximum of one “7CAFÉ Free Drink E-Coupon”, but there is no limits on the number of times you can play the game. So keep on playing even if you’re not successful the first time round!

Please refer to the game site for terms and conditions.

* Valid from 3 May (7am) to 17 May 2022. This coupon is applicable to Ginger Latte, Ginger Flavoured Milk, Hazelnut Latte and Mocha. This coupon cannot be exchanged for cash or used in conjunction with other promotions. This coupon can only be used at 7-Eleven stores with the listed product(s) available. It cannot be used at certain stores in Hong Kong and Macau (including but not limited to Repulse Bay, Airport, Chek Lap Kok Air Terminal, AsiaWorld-Expo, Inspiration Lake Recreation Centre and Team Disney, Hong Kong Disney Resort stores and Food Kiosks, Ngong Ping Market, Macau International Airport Terminal Departure Level Store and 7CAFÉ+). If this coupon is altered or damaged, it will be considered void. Some 7CAFÉ stores do not offer hot milk or iced drink options. Some products are only available in selected stores. Limited quantity available, while stocks last. All prices listed are in Hong Kong dollars at Hong Kong stores and in Macanese Patacas at Macau stores. The product prices shown at the stores shall prevail. Product images are for reference only. In case of any dispute, 7-Eleven reserves the right of final decision.

About 7CAFÉ

7CAFÉ is one of 7-Eleven’s own brands. Available at over 600 stores, 7CAFÉ enables customers to enjoy freshly brewed coffee on the go that is quick, convenient, good quality and affordable. 7CAFÉ sources premium 100% Arabica coffee beans from Brazil, Honduras, Bali and Sumatra. The beans are then freshly roasted locally in Hong Kong to preserve their characteristic flavour. The house blend with its sweet, slightly nutty aroma is specially made for and totally exclusive to 7-Eleven.

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

New Report Finds 75% of Hong Kong’s Hotel Industry Committed to Use Only Cage-Free Eggs Globally

HONG KONG – Media OutReach – 11 May 2022 – A new report finds the large majority of Hong Kong’s hotel groups have now set a timeline for ending the use of eggs from caged hens across their global operations. This marks the first time a farm animal welfare standard has become an industry norm in Asia.

The 2022 Hong Kong Hospitality Industry Cage-Free Scorecard, released by the non-profit Lever Foundation, surveyed the policies of leading domestic and international hospitality groups operating in Hong Kong, defined as companies with at least five hotels globally and at least 200 rooms in Hong Kong. It found that 75% of such companies have now set a timeline to use only cage-free eggs globally.

In 2022, Hong Kong-based hospitality groups Dorsett Hospitality International, Nina Hospitality, Regal Hotels International, SHKP Hotels, Sino Hotels Group, Swire Hotels, The Harilela Group, Miramar Group, Lan Kwai Fong Group, and New World Development set timelines for using only cage-free eggs globally. These follow similar commitments issued over the past two years by Hong Kong-based Ovolo Hotels, Langham Hospitality Group, Mandarin Oriental Hotel Group, The Peninsula Hotels and Wharf Hotels.

“It’s encouraging to see the majority of hospitality groups in Hong Kong pledge to use only cage-free eggs, which are more humane for animals and higher in food safety and quality,” said Angela Wong, Sustainability Program Manager at Lever Foundation, which worked with each company on its commitment. “Consumers have become more conscious of their food choices, so hospitality brands are increasingly emphasizing ethical sourcing. We are optimistic that all major hotel groups in Hong Kong will soon have a commitment to go cage-free.”

The only six hotel groups that have so far failed to set a timeline for ending the use of caged eggs are Shangri-La Hotels and Resorts, Rosewood Hotel Group/New World Hotels and Resorts, Tang’s Living Group, Asia Standard Hotel Group, Wing Tai Properties Limited, and Harbour Plaza Hotels & Resorts.

The European Food Safety Authority and a dozen international research teams have found battery cage egg farms have up to a 33 times greater risk of salmonella contamination. A 2021 survey of Chinese consumers by media agency FoodTalks found that 75% said they would be more likely to patronize businesses that use only cage-free eggs.

ABOUT LEVER FOUNDATION

Lever Foundation is a global NGO with staff operating across Asia, Europe, North America and Latin America. Lever Foundation works with leading companies to help them upgrade their protein sourcing for a more humane, safe and sustainable supply chain, with a focus on cage-free eggs and alternative protein.

#LeverFoundation

YouTrip and Mastercard launches YouBiz, the smartest corporate card for SMEs to earn unlimited cashback and save on FX fees

  • YouBiz gives companies the most rewarding corporate payments with an unlimited cashback on all spends, and zero foreign currency transaction fees
  • Beyond payments, YouBiz also offers a multi-currency expense management platform, building on the company’s mission to create affordable and convenient borderless financial services
  • YouBiz solidifies YouTrip’s position as the leading neobank in Southeast Asia offering B2B and B2C financial services

SINGAPORE – Media OutReach – 11 May 2022 – Singapore’s leading neobank, YouTrip, launched its new business product, YouBiz, today. Powered by Mastercard®, YouBiz is the best corporate card for enterprises to earn unlimited cashback[1] and save with zero foreign exchange fees. Integrated with the card is also a unified control centre bringing together multi-currency accounts, local and domestic transfers, corporate expense management and credit features in a single hub.

This development follows YouTrip’s recent US$30 million Series A funding, and solidifies its position as the leading neobank in Southeast Asia offering both B2B and B2C financial services.

The launch of YouBiz comes at a time when SMEs are revamping the way they operate. More than 70%[2] of businesses have adopted digital tools and are trading with global vendors and suppliers to stay competitive. As the world opens up, one in three SMEs[3] have also expressed confidence in accelerating their overseas expansion plans. This is set to further drive the US$35 trillion[4] global cross-border B2B payments market.

Arthur Mak, Co-founder and Chief Product Officer of YouTrip, said, “The concept of borders have blurred during the pandemic as SMEs increasingly do business internationally. Their cross-border payment needs are definitely going to rise – yet, many of their financial needs remain unmet due to the lack of a tailored financial solution. Our continued partnership with Mastercard empowers us to establish YouBiz as a valuable and reliable partner for SMEs to grow beyond borders. Promising efficient and purpose-built financial solutions at the best value, we help businesses save time and cost as they focus on scaling worldwide,” he added.

More funds on hand with YouBiz’s unlimited cashback and zero FX fees

Busy business owners want payment products that streamline and save on everyday business operations. The YouBiz card delivers on these demands by offering SMEs unlimited cashback on all spends with no cap – eliminating the need to manage and optimise their spending types. Together with savings from YouBiz’s zero foreign currency transaction fees, companies can rack up additional funds to power other business operations.

Spending and managing individual employee expenses is also convenient with YouBiz’s ability to generate physical and unlimited virtual cards for payments in over 150 currencies at more than 80 million Mastercard merchants worldwide, online and in-store. This not only reduces the risk of card-sharing, custom spend limits on each card also prevents employees from overspending.

Multi-currency services to prepare SMEs for the global market

Beyond payments, YouBiz allows SMEs to receive, hold and spend in nine currencies[5] currently and make immediate exchange at competitive rates and no fees. Doing business is also easier than ever with free local transfers and low, transparent pricing for international remittance. All transactions are delivered and streamlined in YouBiz’s unified control centre, making expense management and reconciliation a seamless process.

Having quick access to working capital is crucial as companies scale up. In light of that, YouBiz is also introducing a credit facility that offers flexible business financing to SMEs. Combining transactional data and machine learning, YouBiz allows businesses to obtain unsecured and collateral-free term loans with no hidden or early repayment fees. The application is fuss-free and loans are disbursed seamlessly into the YouBiz account within 48 hours.

To help SMEs unlock more opportunities in the global economy, YouBiz has also collaborated with Google to provide businesses with direct support for digital marketing services, and established travel partners like Agoda, Booking.com and Qatar Airways on additional savings for travel expenditure, especially as business travel resumes.

“We’ve invested heavily in building our multi-currency technology infrastructure and obtaining a full set of licences for YouBiz. Having this control over our value chain enables us to offer the most customisable and cost-effective financial solutions for businesses. We look forward to partnering closely with SMEs to innovate and customise our offerings to meet their shifting demands,” added Arthur.

“Partnering with YouTrip on this innovative product will complement the work Mastercard has already done to help SMEs drive their overall digital transformation and harness the opportunity of the rapid growth in online marketplaces. As these digital merchants expand their business across borders, they will come to recognize both the competitive advantage and the savings they will enjoy from zero foreign exchange fees, unlimited cashback, integrated expense, and cashflow management,” said Deborah Heng, Country Manager, Mastercard, Singapore. “YouBiz also comes at a fitting time with the recent uptick in global travel and accelerated ecommerce growth, further supporting SMEs to scale and transact easily, both locally and abroad,” she added.

Signing up for a YouBiz account and card is free and does not require any minimum account balance or card fees. Businesses can start creating their YouBiz card and account here.


[1] YouBiz is offering an unlimited 1% cashback on all card spends
[2] Google, Temasek, Bain & Company: e-Conomy SEA 2021
[3]Singapore Business Federation National Business Survey 2021-2022
[4] Juniper Research: B2B Cross-Border Payments to Grow by 30% to $35tn by 2022
[5] YouBiz users are able to open nine multi-currency accounts in SGD, USD, EUR, GBP, AUD, HKD, JPY, CHF, THB

About YouTrip

YouTrip is a Southeast Asian neobank dedicated to creating the next-generation of digital financial services for consumers and businesses. In 2018, it launched the region’s first and leading multi-currency payment app.

With its consumer and corporate products, YouTrip and YouBiz, the company empowers users with the most affordable and convenient financial innovations to transact in any currencies worldwide. The company is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS), and owns principal memberships and issuing licences with two of the largest card schemes, MasterCard and Visa. For more information, please visit

#YouTrip

About Mastercard (NYSE: MA) www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realise their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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

Coface China Corporate Payment Survey : Increasing Risks In Supply Chain Disruptions And Rising Raw Material Prices

“Coface China Corporate Payment Survey 2022 : Longer payment delays and rising credit risks in some sectors”

HONG KONG S.A.R. – Media OutReach – 11 MAY 2022 – Coface’s 2022 China Corporate Payment Survey[1] shows that fewer firms encountered payment delays in 2021, but those that did report longer periods of overdue payments than in the previous year. The average payment delay rose from 79 days in 2020 to 86 days in 2021. Firms in 9 out of 13 sectors reported an increase in payment delays, led by agri-food, which recorded the largest increase of 43 days, followed by wood, transport, and textile.


More companies are reporting ultra-long payment delays (ULPDs), which are payments overdue by more than six months, rising from 15% to 19% in 2021. More worrying, there was a significant increase in those facing ULPDs exceeding 10% of their annual turnover, jumping from 27% in 2020 to 40% in 2021, notably the construction and agri-food sectors.

With China’s economic growth projected to slow in 2022, fewer companies are expecting an improvement in sales and cash flow.

Coface expects China’s GDP growth to slow to 4.8% in 2022, following a strong 8.1% in 2021, as the Chinese economy continues to face significant headwinds to growth, including a property sector downturn, the pursuit of zero-COVID policies, subdued consumption recovery, and higher commodity prices.

Bernard Aw, Economist for Asia Pacific at Coface, said:

“Coface’s latest China Corporate Payment Survey showed credit terms offered by Chinese companies remained tight despite a recovery in the Chinese economy in 2021, as companies remain cautious due to the ongoing pandemic. Agri-food and energy made the biggest cut (-23 days each), reflecting increasing credit risks linked to rising raw material prices.

“Although fewer companies reported payment delays, there was a rise in the proportion of respondents reporting that payment delays had increased, from 36% in 2020 to 42% in 2021, the highest since 2016. Agri-food reported the largest surge in average payment delays (43 days) to reach 88 days. Upward trends were reported in wood (+20 days), transport (+18) and textile (+16), highlighting the impact of slower domestic demand due to strict social distancing restrictions in China.

Chinese firms are less optimistic about China’s economic prospects, with 44% of respondents expecting sales to improve this year, down from 65% in 2020, while those forecasting better cash flow fell by nearly half from 50% in 2020 to 27% in 2021. Rising raw material prices, a weakening market demand, and the ongoing pandemic were key factors as reported by respondents.

“The recent outbreak of Omicron demands more Covid control in China and it will worsen the global supply chain disruptions. Coface expects corporate bond defaults and insolvencies in China to increase in 2022, especially among sectors that accumulated higher cash flow risks in 2021 due to the pandemic.”

Payment delays[2] : Rising raw material prices become a key factor in overdue payment

Fewer companies experienced payment delays in 2021, with 53% of respondents reporting overdue payments, down from 57% in 2020. However, the average payment delay rose from 79 days in 2020 to 86 days in 2021. Construction continued experiencing the longest payment delays with 109 days, followed by 99 days for transport.

Most worrying, the share of respondents experiencing ultra-long payment delays (ULPDs) exceeding 2% of annual turnover expanded from 47% in 2020 to 64% in 2021. Construction remained the sector with the highest share (56%) of respondents reporting ULPDs exceeding 10% of their annual turnover. According to Coface’s experience, 80% of ULPDs are never paid. When they constitute a share of annual turnover above 2%, a company’s cash flow could be at risk.

The main reason behind those delays remains customers’ financial difficulties, highlighted by nearly three-quarters of respondents that indicated payment delays. Financial difficulties were caused mostly by fierce competition affecting margins (36%), but also – to a greater extent in 2021 – by rising raw materials prices (23% vs. 10% in 2020) and a slowdown in local market growth (16% vs. 10% in 2020). This reflects rising commodity prices are placing pressure on operational costs which directly impacts companies’ cash flow.

Economic expectations: Hopeful, but significant growth risks remain

Looking ahead, the majority of respondents remained hopeful about economic prospects in the year ahead, although the share of optimists was down to 68%, from 73% the previous year

Expectations about sales and cash flows were less sanguine, which may be connected to a tapering of recovery momentum as businesses move closer to pre-pandemic conditions. The percentage of respondents anticipating improved sales performances in the coming year shrank from 65% in 2020 to 44% in 2021, while those forecasting better cash flow fell by nearly half from 50% in 2020 to 27% in 2021. Rising raw material prices, a weakening market demand, and the ongoing pandemic were key factors highlighted by respondents that expected weaker sales performances.

Coface expects China’s GDP growth to slow to 4.8% in 2022, following a strong 8.1% in 2021, as the Chinese economy continues to face significant headwinds to growth, including a property sector downturn, the pursuit of zero-COVID policies, subdued consumption recovery, and higher commodity prices.

Global supply chains likely to remain tight

The effects of the Russia-Ukraine crisis and China’s zero-COVID measures are expected to deliver another hit to global supply chains. With the prominent role played by both Russia and Ukraine in the global energy and food markets, the crisis is a significant risk to the supply of such commodities. Russia is the second- and third-largest world producer of gas and oil, respectively. It is also a major producer of strategic metals, such as palladium, nickel and copper. These metals are used in the automotive and aircraft industries, while copper is an important metal for the construction sector. Both countries are important exporters of certain agricultural commodities, notably for sunflower and safflower oil (75% of global exports in 2019 combined), wheat (29%), coarse grain (20%) and corn (19%). Sanctions on Russian commodities, including an import ban on Russian crude and refined products by the United States, the United Kingdom, Canada and Australia, as well as the European Union (EU)’s import restrictions on Russian iron and steel, raised fears of the reduced availability for such products, resulting in rising prices. Financial sanctions on several Russian banks and restrictions on access to U.S. dollars could affect agricultural trade flows. Disruptions to trade routes also added to concerns about higher prices and delivery delays.

While China has shifted from a strict zero-COVID strategy to a ‘dynamic’ approach in order to minimize adverse impacts on the Chinese economy, negative effects, arising from measures implemented to contain outbreaks across the country, remain. The lockdowns in Shenzhen and Shanghai in March and April have impacted the normal operations of landside logistical and warehouse services, despite port operations continuing to function. This has already intensified pressure on supply chains during March. China PMI suppliers’ delivery times index fell to a two-year low in March 2022, reflecting worsening delivery delays. Similarly, China’s Logistics Industry Prosperity Index also declined to the lowest since February 2020, with the logistics sector affected by the spread of the pandemic in multiple parts of the country, where differentiated pandemic management measures disrupted cross-regional distribution and the ability to maintain a smooth flow.

  1. The 2022 China Corporate Payment Survey was conducted between November 2021 and January 2022, and surveyed over 1,000 companies across 13 broad sectors located in mainland China.
  2. Payment delay – the period between the due date of payment and the date the payment is actually made.

Download the full report here

COFACE: FOR TRADE

With over 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, 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. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2021, Coface employed ~4,538 people and registered a turnover of €1.57 billion.

#Coface

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

NetApp Teams with NVIDIA to Accelerate HPC and AI with Turnkey Supercomputing Infrastructure

Expanded AI portfolio now includes NVIDIA DGX SuperPOD, NetApp ONTAP AI Integrated Solution, and NVIDIA DGX Foundry Instant AI Infrastructure

SAN JOSE, CALIFORNIA – Media OutReach – 11 May 2022 – NetApp® (NASDAQ: NTAP), a global, cloud-led, data-centric software company, today announced that NetApp EF600 all-flash NVMe storage combined with the BeeGFS parallel file system is now certified for NVIDIA DGX SuperPOD™. The new certification simplifies artificial intelligence (AI) and high-performance computing (HPC) infrastructure to enable faster implementation of these use cases.

Since 2018, NetApp and NVIDIA have served hundreds of customers with a range of solutions, from building AI Centers of Excellence to solving massive-scale AI training challenges. The qualification of NetApp EF600 and BeeGFS file system for DGX SuperPOD is the latest addition to a complete set of AI solutions that have been developed by the companies.

“The NetApp and NVIDIA alliance has delivered industry-leading innovation for years, and this new qualification for NVIDIA DGX SuperPOD builds on that momentum,” said Phil Brotherton, Vice President of Solutions and Alliances at NetApp. “As performance and data demands are exploding, NVIDIA DGX SuperPOD, coupled with ONTAP AI platform and DGX Foundry AI service, ensures our customers get the best-in-class model training infrastructure, with the full support of AI industry leaders.”

“Organizations modernizing their business with AI and HPC need performance, flexibility and choice as they architect their infrastructure,” said Charlie Boyle, Vice President of DGX systems at NVIDIA. “Our collaboration with NetApp enables customers building their own AI Centers of Excellence to now choose NetApp storage for their NVIDIA DGX SuperPOD, as well as use the same leading platform available as hosted infrastructure through NVIDIA DGX Foundry.”

“We’re thrilled to be working with NetApp and NVIDIA to build an HPC/AI Center of Excellence with NVIDIA DGX systems so applied learning students can experience supercomputing and high-performance computing infrastructure,” said Tonya Witherspoon, Associate Vice President, Industry Engagement & Applied Learning at Wichita State University. “NetApp is a digital fabric anchor of the innovation campus, and we can’t wait to develop the next generation of talent in this exciting space.”

Broad Portfolio of AI Infrastructure Solutions

NetApp’s portfolio of NVIDIA-accelerated solutions includes ONTAP AI to eliminate guesswork for faster adoption by using a field-proven reference architecture as well as a preconfigured, integrated solution that is easy to procure and deploy in a turnkey manner.

Also included is NVIDIA DGX Foundry, which features NVIDIA Base Command software and NetApp Keystone Flex Subscription. This combination provides a world-class hosted infrastructure solution for businesses and their data scientists who need a premium AI development experience without the struggle of building it themselves.

With today’s announcement, organizations can also build their AI Centers of Excellence leveraging the power of DGX SuperPOD on premises in combination with NetApp storage.

NetApp, in collaboration with NVIDIA, also offers tailored solutions for a variety of industries, including financial services, medicine, manufacturing, retail, higher education and government, and has sponsored and facilitated ideation workshops for customers embarking on AI journeys to accelerate success while mitigating risk.

“The AI lifecycle focus has moved up the development stack and away from the infrastructure management, driving the need for converged solutions and services that make it easier for organizations to simplify their infrastructure investments for AI use cases deployments,” said Ritu Jyoti, Group Vice President, AI/Automation Research & Advisory at IDC. “DGX SuperPOD is the latest milestone in a prolific partnership between NetApp and NVIDIA to address this need, and NetApp is well positioned to help customers solve their data management challenges regardless of where it resides.”

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About NetApp

NetApp is a global, cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. The company provides systems, software and cloud services that enable them to run their applications optimally from data center to cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloudlike experiences on premises. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services and applications to the right people—anytime, anywhere. Learn more at or follow us on , , , and .

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