Electricite du Laos has announced that it will place a greater focus on customer service, saying irresponsible employees will be dismissed.
Chubb Creates Consumer Lines Division in Asia Pacific; Appoints Glen Browne to New Leadership Role
SINGAPORE – Media OutReach – 27 May 2021 – Chubb today announced that it has appointed Glen Browne Division President, Consumer Lines, Asia Pacific with effect from 1 July 2021, in addition to his role as Deputy Regional President for Asia Pacific. In this newly created position, Mr. Browne will oversee the accident and health and personal lines businesses in the region. He will also have oversight for direct marketing, consumer partnerships and digital distribution for both the company’s general and life insurance divisions in Asia Pacific. Mr. Browne will continue to be based in Singapore and report to Paul McNamee, Chubb’s Regional President for Asia Pacific and he will work closely with Brad Bennett, Chubb Life’s Chief Operating Officer.
“The new Consumer Lines division will bring to bear the full breadth of Chubb’s capabilities to deliver the best customer product and service solutions in a seamless way, and agnostic to the product, channel and delivery method,” said Mr. McNamee. “This is a response to the evolving customer and growing partnership dynamics of our business, which will necessitate the sharing of data, technology and talent to deliver superior customer and partnership outcomes.”
Mr. Browne is a seasoned executive with over 25 years of industry experience. He joined the company, then known as ACE, in New Zealand in 2000 and has been promoted to roles of increasing responsibility over the course of his career, most recently to Deputy Regional President for Asia Pacific and Division President, Southeast Asia.
On this new role, Mr. McNamee said, “Glen has both breadth of experience across a number of our countries in General Management as well as depth of knowledge in the consumer space. He has the perfect blend of leadership and technical skills to steer the teams across the region to achieve our ambitious goals to grow our consumer business.”
About Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide.
Additional information can be found at: www.chubb.com.
#Chubb
Incomlend Provides USD2.5 million Invoice Financing Programme for India-based Apparel Manufacturer to Capture Revenue Opportunities
Quick Turnaround Factoring Facility to Safeguard the Manufacturer from Credit Risks Amid Pandemic-related Complications
SINGAPORE – Media OutReach – 27 May 2021 – Global invoice financing marketplace Incomlend today announced a USD2.5 million invoice financing programme for a leading Indian apparel manufacturer. The initiative will bolster the manufacturer’s production and exportation capabilities, safeguarding its vital revenue streams with customers, including fashion retailers across Europe, the USA and the Asia Pacific.
Based in Singapore and with offices in Europe, India, and Southeast Asia, Incomlend connects small and medium enterprises (SMEs) with communities of investors, enabling them to buy and sell individual invoices online.
The working capital solution provided by Incomlend will enable the apparel manufacturer, which operates eight manufacturing plants, to safeguard its financial health and maintain manufacturing operations to capture new revenue opportunities. It will al
The move came when the manufacturer received a request from one of its key customers in Europe to lengthen the payment terms from 75 days to 120 days to ease cash flow against a challenging setting where the pandemic impacted several branches.
The apparel manufacturer will now be able to cash in an invoice as early as three days following the shipment of products. The retailer (importer) will have the option of paying for the shipment’s invoice value up to 120 days later.
Since it started operations in 2016, Incomlend has financed over USD500 million in trades across 50 countries worldwide. As companies continue to navigate the disrupted and volatile business environment, competitive and alternative working capital such as the Incomlend Invoice Financing Programme will play a crucial role in helping companies maintain their financial health and business continuity. The programme will also provide companies with the capital to capture new opportunities as economies recover.
According to research by trade credit insurer Atradius, suppliers in India active in both domestic and foreign markets reported a significant increase in late payments in June 2020. An average of 66% of the total value of B2B invoices was overdue, up from 39% in June 2019. Furthermore, the research revealed that late payments in the textile industry in Asia impacted 64% of the total value of B2B invoices. Receiving cash for goods at an earlier time enables companies to maintain a healthy working capital to cover other aspects of their business, including operational expenses.
Incomlend CEO and Co-founder Morgan Terigi commented:
“From supply chain disruptions to the ongoing closure of physical stores, the apparel industry continues to navigate the impact of COVID-19. Businesses in the sector face increased financial challenges, from limited cash flow to credit risks. With our extensive experience working with apparel manufacturers and fashion retailers, we understand the pain points that exporters and importers face in today’s pandemic climate. We offer our Invoice Financing Programme, a working capital solution to meet evolving business requirements and ultimately, a win-win situation for both exporter and importer.”
For more information on Incomlend, please visit https://www.incomlend.com/.
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About Incomlend
Incomlend is a global invoice financing marketplace for businesses and private capital. Founded in 2016, the Singapore-based company has processed more than 2,300 transactions and provides invoice finance services in over 50 countries worldwide. As one of the first alternative cross-border trade finance platforms globally, Incomlend enables companies to finance their export invoices by selling them to institutional investors at a discount. For more information, visit www.incomlend.com.
#Incomlend
Emissary Capital and GrowthX Launch ASEAN’s First Go-to-Market Accelerator
KUALA LUMPUR, MALAYSIA – Media OutReach – 27 May 2021 – Emissary Capital, a boutique investment firm focusing on ASEAN, and GrowthX, a Silicon Valley-based venture capital fund and go-to-market accelerator, today announced their partnership to launch MXP Online – the GrowthX Go-to-Market Accelerator – across ASEAN.
MXP Online is a go-to-market accelerator program designed to give companies the processes and knowledge frameworks to accelerate their businesses/products towards effective market fit. This allows businesses to generate revenues and profits faster through products that are better suited to the markets they are addressing. This is a skillset often overlooked by most accelerator programs that tend to focus little on market-based curriculums. This is also a crucial skillset for businesses operating in the ASEAN region that is renowned for high levels of market fragmentation and where businesses may need to re-develop market fit multiple times across their regional expansion.
The program has been exclusively developed by the team at GrowthX, utilizing their unmatched industry experience and
“Emissary Capital is the perfect partner for GrowthX across the ASEAN region, as we both share the core belief that entrepreneurism can fuel the economy and create jobs when capital is combined with go-to-market expertise,” says Andrew Goldner, the CEO and a Founding Partner of GrowthX.
According to Erman Akinci, a founder of Emissary Capital, “Our partnership with GrowthX enables our founders to have an unfair advantage against most other founders around the region: That is a clearer path to customers, revenue and profit! And the ability to effectively replicate that process across multiple markets in ASEAN. As investors who are also on the inside, helping our founders go to market it also allows us to generate unique insights that help us make better, more informed investment decisions.”
Through their partnership, Emissary Capital entrepreneurs will have access to live coaching, on-demand training and interactive playbooks focused exclusively on helping them win customers, grow revenue and find product-market fit. “We are determined to drive the regional economy forward, and that means not only funding entrepreneurship, but also preparing founders to go to market with the same intent and training that they have been prepared to go to product,” says Mr. Akinci.
The accelerator program is also expected to benefit the investee companies of the Emissary Capital Growth Fund 1. L.P. The program will be deployed via a knowledge sharing program that will see top industry experts with deep knowledge coach and mentor the founders of the investee companies. The growth-stage fund is part of the RM1.2 billion Dana Penjana Nasional program, an initiative of the Government of Malaysia to bridge the funding gap by incentivizing private capital across the whole venture capital life cycle, facilitate the growth of innovative start-ups and accelerate Malaysia’s economic recovery.
Founders find product-market fit, and Emissary Capital identifies, qualifies and earns top investment opportunities. It’s a win-win for Malaysia and ASEAN!
Emissary Capital
Emissary Capital is a Malaysia based boutique investment firm focusing on ASEAN. The team is made up of current and ex-founders that have built sizable businesses across southeast Asia. The firm utilizes a time-zone based active-management strategy with a key focus on operational value adding. The firm was launched in late 2020 and currently operates a fund in partnership with Dana Penjana National program.
For more information, visit emissarycapital.com
GrowthX
GrowthX is a Silicon Valley-based venture capital fund run by operators with extensive go-to-market expertise. Founded in 2015, GrowthX has operated its Market Acceleration Program (MXP) exclusively for its portfolio companies since inception. In 2019, MXP Online was launched to enable global founders, and the organizations that support them, with that same go-to-market expertise in the form of a virtual accelerator that combines live coaching, on-demand training and interactive playbooks to deliver real results.
For more information, visit growthx.com
Dana Penjana Nasional
Dana Penjana Nasional is a matching fund-of-funds programme, which is part of the Short- Term Economic Recovery Plan (PENJANA) launched in June 2020. The Government of Malaysia will match up to RM600.0 million, on a 1:1 basis, funds raised by the VC fund managers from foreign and private local investors, with a target allocation of RM1.2 billion.
For more information, visit penjanakapital.com.my
#VentureCapitalFund #growthstagefund #Gotomarketaccelerator #acceleratorprograms #ASEANacceleratorprograms #Entrepreneurs #Entrepreneurship #Entrepreneurism #Startups #Startupfounders #Investors #privatecapital #investeecompanies #investmentopportunities #DanaPenjanaNasional #knowledgesharingprogram
Sino Malls support Government’s consumption voucher scheme by giving out over HK$20 million in rewards and exciting experiences
Partnership with AlipayHK on exclusive consumption voucher promotions Collaboration with livi bank from July on 210 x HK$5000 in cash rebate
HONG KONG SAR – Media OutReach – 27 May 2021 – In support of the Government’s electronic consumption voucher scheme, major Sino Malls including tmtplaza, Olympian City and Citywalk are putting forward a series of promotions to give out over HK$20 million in rewards. Furthermore, Sino Group is presenting various exciting experiences featuring innovative technology with the aim of rewarding the public for their support, helping mall tenants generate business and accelerating economic recovery in Hong Kong.
Please click here to download photos
The first drop will be exclusive offers launched in partnership with AlipayHK, the most popular electronic wallet in Hong Kong, followed by the weekly “HK$5000 Cash Rebate Lucky Draw” organised with the lifestyle-oriented virtual bank livi bank, giving consumers opportunities to up their consumption power. In addition, during the consumption voucher scheme running period, customers spending with their credit card or via other electronic payment methods at Sino Malls will stand the chance to win rewards such as spending rebates and concert tickets.
Adding value to consumption vouchers through strategic partnership with AlipayHK
In support of the Government’s consumption voucher scheme, Sino Group has announced today that it is entering into a strategic partnership with AlipayHK, one of the stored value facilities selected to participate in the scheme, to present welcome offers, discount coupons and exciting experiences.
Under this joint initiative, the public will be able to use the electronic consumption vouchers in conjunction with exclusive Sino Malls coupons to enjoy extra benefits. With an extensive merchant network, AlipayHK allows users to spend their consumption vouchers at different retailers, dining establishments and cinemas at Sino Malls with no spending limit. Starting from today, newly registered AlipayHK members will even receive a HK$70 e-coupon as a welcome reward.
HK$5,000 cash rebate lucky draw for 7 weeks from July to give out HK$1.05 million
Sino Malls are kicking off the summer season with the “HK$5000 Cash Rebate Lucky Draw”, which will be launched in collaboration with virtual bank livi bank and running for 7 consecutive weeks starting July. Each week, 30 lucky winners will be drawn, making the total amount of cash rebate offered HK$1.05 million. Customers spending HK$300 or more at the participating Sino Malls can take part in the lucky draw once, and another time if they make the payment through livi bank. The lucky draw is also accumulative rather than cut off every week, meaning the greatest amount of cash rebate a single participant can earn is HK$35,000.
Meanwhile, members of Sino Malls’ S+ REWARDS loyalty programme will receive an instant cash rebate of HK$250 by opening a livi bank account with a designated promo code. They can also earn up to HK$5,000 through the referral programme.
More irresistible offers to come
In addition to enjoying offers when using the electronic consumption vouchers at the participating Sino Malls via the designated stored value facility, customers can take part in Sino Malls’ spending promotion by making payments with their credit card or via other electronic payment methods to win spending rebates, concert tickets and other attractive offers.
More promotions are to come. Stay tuned!
Terms and conditions apply to the promotions. Please refer to the campaign posters and website for details. Subject to change without notice.
About Sino Group
Sino Group is one of the leading property developers in Hong Kong. It comprises three listed companies – Sino Land Company Limited (HKSE: 083), Tsim Sha Tsui Properties Limited (HKSE: 0247) and Sino Hotels (Holdings) Limited (HKSE: 1221) as well as private companies held by the Ng Family.
The Group’s core business is developing residential, office, industrial and retail properties for sale and investment. In addition to an extensive portfolio in Hong Kong, the Group has footprints in mainland China, Singapore and Australia. The Group has developed over 250 projects, spanning a total plot ratio area of over 84.6 million sq ft. Our core business is complemented by the gamut of property services encompassing management, security and environmental services We are also a key player in hotel and club management as well as car park operations.
With a team of over 11,000 dedicated professionals, we are committed to Creating Better Lifescapes. Lifescape is our vision – to build a better life together, where the community thrives in harmony by embracing green living and wellness, by engaging with all and pursuing meaningful designs, and by seeking innovation while respecting heritage and culture. Committed and together, we create a better community where people live, work and play.
The Group focuses its sustainability efforts on three areas, namely Green Living, Innovative Design, and Community Spirit. Sino Land Company Limited (083) has been a constituent member of the Hang Seng Corporate Sustainability Index Series since September 2012 for its continual efforts in promoting sustainability.
About S+ REWARDS
Developed by Sino Group, Hong Kong’s first multi-mall socialized interactive rewards program, S+ REWARDS, covers the Group’s four flagship malls, tmtplaza, Olympian City, Citywalk and China Hong Kong City. The ‘S’ in S+ REWARDS stands for Sino Malls, Social, and Spending Rewards. It is a socialized interactive rewards program that links up all shopping malls under the Sino Group and connects people at the same time.
Customers can download the S+ REWARDS app for free. It can connect them to over 750 merchants in the Group’s four flagship malls. One simple app with no physical card, customers can shop and spend across the four flagship malls anytime to earn points and enjoy different exciting offers and rewards. In addition to offers and rewards from the S+ REWARDS program, the interactive features of the S+ REWARDS app allow customers to share promotional offers, favorites and best buys, discounts, and other shopping tips or experiences with their friends. Combining games with shopping experience, S+ REWARDS features various special activities and interactive games for customers to win festival-specific or time-limited offers.
#SinoGroup
About AlipayHK
The AlipayHK electronic wallet is operated by Alipay Financial Services (HK) Limited (Stored Value Facility Licence number: SVF0004) and regulated by the Hong Kong Monetary Authority. Alipay Payment Services (HK) Limited is a joint venture established by Ant Group, a parent company of “Alipay”, and the CK Hutchison Holding Limited, a multinational conglomerate spanning over 50 countries.
Currently, over 100,000 local retail outlets support the AlipayHK electronic wallet for payment, covering large chain stores, convenient stores, supermarkets, fresh markets, restaurants and others. Features of the AlipayHK electronic wallet include transportation, cross-border payment, P2P transfer, Lucky Money, blockchain remittance, bill payment, Quick Reward Coupon eShop, Taobao and TMall payments, purchase of insurance products offered by third parties, e-coupons, etc, making Hong Kong residents’ lives more convenient by integrating mobile payment into daily lives.
About livi bank
Hong Kong based, livi bank is backed by BOC Hong Kong (Holdings), JD Technology and the Jardine Matheson Group, which together bring to livi a unique range of benefits in terms of financial strength, technological expertise and marketing excellence. With the goal to foster digital innovation, promote financial inclusion and enhance customer experiences, livi brings a unique, brand-new and different banking experience to Hong Kong. Taking an innovative approach, livi provides customers with flexible solutions anytime and anywhere and the benefits of ecosystem partnerships that complement their everyday lives. livi’s outstanding service to its customers has received widespread industry recognition. The bank earned a ‘Gold Certificate’ at the Privacy-Friendly Awards 2021 from the Office of the Privacy Commissioner for Personal Data; won the ‘Outstanding Customer Reward Programme in Virtual Banking’ from ET Net’s FinTech Awards 2020; and was named ‘Excellent Brand of Fintech (Virtual Bank)’ by Metro Finance’s Hong Kong Leaders’ Choice Brand Awards 2021.
Vivocom announces diversification into minerals and commodities
Awaiting confirmation of contracts worth up to several Billions!
KUALA LUMPUR, MALAYSIA – Media OutReach – 27 May 2021 – In a filing to Bursa Malaysia, Vivocom announced that it has embarked on a strategy of sourcing and supplying commodities and minerals to China and other countries for the foreseeable future in light of the world’s soaring demand and race for scarce commodities to rebuild their economies after the pandemic.
Dato Seri Chia Kok Teong (middle), Vivocom’s CEO with Mr Patrick Tan (right) Vivocom’s Executive Director, and one of their Chinese buyers, Mr. Liu Yu (left). (picture taken prior to 1/4/21 at a private residence)
“Vivocom is thrilled to share that it is in final negotiations with several parties for the supplies of commodities and minerals worth conservatively several billions, which should be concluded soon,” declared Dato’ Seri Chia.
“All such contracts will be for the supplies of commodities and minerals for a minimum of two years, renewable to 6 years as the demand for them skyrocket along with China’s recovery of its economy to pre-pandemic levels. China’s consumption, about half of the global total, will keep growing from record levels, as the rest of the world also rebounds strongly.”
“We are finalising at least three such contracts for iron ores worth from RM290M monthly up to RM6B in total to be announced ASAP when completed, targeted by end June/July. We are sorting the little but very crucial details. Once all the details are agreed, things will be finalised and move very quickly.”
“There is so much more to come. Our buying partners’ extensive network is ginormous with extremely deep pockets. We have the capacity to buy up USD10B or more worth of sand and other minerals and commodities,” Dato’ Seri Chia explained.
“We are currently in the market to buy a limitless amount of sand of any kind, laterite nickel ore, iron ore, R50/R60 steel bars, bauxite ores, and so much more minerals or commodities for our clients.”
“For the financial year ended 30th June 2022, we target to deliver at least RM3 Billion worth of sands and minerals to our clients overseas with gross margins of RM250M or higher to contribute to Vivocom’s profits positively for that year.”
“We plan to triple or quadruple our revenues and profits from sand, mineral or commodity exports from here onwards. Over the next few months, more contracts will definitely be secured, signed and announced,” Dato Seri Chia added.
Vivocom’s Improving Fundamentals
Vivocom’s recently released 2nd Quarterly Report for the 6-months ended 31 December 2020 showed an impressive 891% and 126% improvement in profits for Q-on-Q and Y-on-Y, respectively.
“We are pleased with the improving fundamentals of our latest quarterly financials. Suffice to say for now, Vivocom’s next three financial years ending 30th June 2022, 2023 and 2024 are going to be very prosperous years indeed.” Dato Seri Chia assured.
“Once all the iron ores contracts under negotiation are finalised and announced, we are also targeting several more contracts for sand and mineral exports worth up to several Billions over the next few months.”
“These are all cash cow projects, with highly positive cash flows generated. All orders come with irrevocable, transferable and revolving Documentary Letter of Credit executed first prior to deliveries being made.”
“The highly positive cash flows earning will shortly be reflected in Vivocom’s financial performance as all the contracts secured are cash cow projects. We will implement a generous dividends policy at the appropriate time as our revenues and earnings visibility become clearer, so mark my words,” Dato Seri Chia asserted.
Resilient Share Performance
In early November 2020, Vivocom’s shares soared from RM0.45c to reach a peak of RM2.05 on 19 November, with a massive 2.47B shares traded in 21 days
“Even when the price soared to RM2.05, I did not sell a single share because I said I would not, with my self-imposed moratorium for three years. I know I am onto something monumental.”
“The fact that Vivocom did not receive any UMA during the November’s rally speaks for itself. There was absolutely no artificial market interference!” Dato Seri Chia stated.
“Most people in the market often look for earnings and conventional measures. But it’s LIQUIDITY that moves markets. This is where Vivocom’s pure liquidity-driven shares will prove its resilience.”
“It is precisely this inherent resilience in Vivocom’s shares, driven solely by pure retailers’ momentum creating tremendous liquidity that gave me reason to be optimistic that the Bull-Run which occurred in November will repeat its performance again in the future.” Dato Seri Chia confided.
Exciting Growth Company – Vivocom
“Based on the contracts worth up to several billions in the pipeline pending conclusion, the purpose of this Press Release is, therefore, to highlight that Vivocom is indeed a very exciting high growth company.”
“The PR is also to show that we are totally committed to building Vivocom into a behemoth conglomerate in the foreseeable future and to ultimately multiply wealth for our shareholders in the long term.”
“Together with the vision and ambition of the Board, my team and I will build the foundations of a new and thriving Vivocom. Every single day we will be working to secure more contracts and be more successful. We are supremely confident we will come good for both Vivocom’s immediate and long term future,” Dato Seri Chia ended.
#Vivocom
Community Spread Slows as Laos Confirms 12 New Cases of Covid-19
Laos has confirmed 12 new cases of Covid-19 as community spread decreases for the second day, while authorities warn against complacency.
Police Detain Vientiane Partygoers in Violation of Lockdown Regulations
Vientiane police were called to Nongtha Neua Village to speak with residents who refused to follow Covid-19 prevention measures issued by the mayor.