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Beauty Salons Shut Down in Vientiane Capital

Beauty salons shut down in Vientiane Capital

Beauty salons and hairdressers in Vientiane Capital have failed to comply with the lockdown order issued by the mayor.

Coface China Corporate Payment Survey 2021: Rising Payment Risks in Construction and Energy Sectors Despite Stronger Economic Outlook

HONG KONG SAR – Media OutReach – 26 May 2021 – Overall, the Chinese economy expanded by 2.3% in 2020, being the only major economy to record growth, and Coface expects the GDP to accelerate to a 7.5% growth in 2021. This would be the fastest pace since 2013, and comfortably above the minimum of 6% set by the authorities.

In normal times, higher economic growth should translate into fewer incidents of payment delays, but the recovery has been uneven across sectors.Thus, Coface’s 2021 China Corporate Payment Survey[1] shows that payment terms shortened by 11 days on average in 2020, falling to 75 days, while the distribution of credit terms leaned towards a shorter rather than longer period.

Finally, firms also benefited from greater fiscal and monetary support measures last year, which are expected to be further tapered this year. Coface expects an increase in bond defaults and insolvencies in 2021, especially among sectors that accumulated higher cash-flow risks in 2020 amid a slowdown in credit growth.

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

Coface’s latest China Payment Survey showed Chinese companies taking the necessary step to strengthen credit management in 2020 due to the Covid-19 pandemic. Credit terms were shortened in many sectors, and more credit management tools were deployed, including the use of credit insurance and credit reports, alongside debt collection and factoring services. As a result, fewer companies experienced payment delays in 2020 compared to the previous year.

“While the path of the pandemic remains uncertain and a sustained economic recovery is far from guaranteed, Chinese firms are optimistic about China’s economic prospects, with 73% of respondents expecting growth to improve this year, up significantly from 44% in 2020. This coincided with more firms anticipating better sales performance and improved cash flows this year.

“Nevertheless, the survey indicated that credit risks are building up in specific sectors, which warrant close monitoring in the coming months. The proportion of firms in the construction and energy sectors that reported ultra-long payment delays (ULPDs, over 180 days) amounting to more than 10% of annual turnover doubled in 2020 to over 60%, hinting at heightened cash flow risks. This development overlapped with rising bond defaults in mainland China, especially in the construction and real estate sector.

“Looking ahead, Coface expects corporate bond defaults and insolvencies in China to increase in 2021, especially among sectors that accumulated higher cash flow risks in 2020 due to the pandemic.”

Payment delays[2]: Most sectors experienced shorter delays, except construction

Fewer companies experienced payment delays in 2020, with 57% of respondents reporting overdue payments, down from 66% in 2019. The drop in payment delays reflected a strong government policy response to soften the impact of the pandemic on business activity, which included tax relief, loan guarantees and loan interest waivers. According to Coface survey, firms in 11 out of 13 sectors reported a decline in payment delays, despite the difficult context. Among them, wood, pharmaceuticals, transport and ICT reported the largest drops.There was no change in retail, while construction saw an increase in overdue payments.

Customers’ financial difficulties were the main reason for payment delays. The lack of financing resources was the second most common reason – after fierce competition – suggesting that pockets of the economy may not have access to government support.

Upturn boosts optimism, but higher prices remain key concerns

With China being the only major economy to see GDP growth in 2020, and recent economic data pointing to a steady expansion in the first quarter of 2021, firms are overall optimistic about economic conditions, according to the survey. Over 70% of respondents expect growth to improve in 2021, up considerably from 44% in 2020. This optimism was accompanied by a greater share of firms anticipating higher sales and cash-flows over the next 12 months. Consequently, a majority (62%) of respondents expects their business to return to pre-COVID-19 levels in less than a year, while nearly a quarter estimates this period between one and two years. Higher prices was the most common impact mentioned by respondents, where almost two-thirds stated that the pandemic led to an increase in commodity prices, as governments’ public health measures disrupted global supply chains.

Despite the pandemic, 47% of respondents admitted not using any credit management tool to mitigate cash-flow risks in 2020, after 40% in 2019. At the same time, a greater proportion deployed more than one credit management tool. The percentage of firms using credit insurance increased from 17% in 2019 to 27% in 2020, while those using credit reports were at 31% in 2020, up significantly from 19%. Both factoring and debt collection also saw an increase compared to the previous year, reaching 10% and 13%, respectively.

Bond defaults and insolvencies set to rise in 2021

At first glance, our survey’s findings may not seem to illustrate the connection between cash-flow risks and corporate bonds defaults, but a sectoral breakdown shows a strengthening of the link. The trend in China’s corporate bond defaults has been on the rise since the first case in 2014, rising from less than USD 1 billion in 2015 to a record USD 27 billion in 2020, according to data compiled by Bloomberg. In the first four months of 2021, bond defaults surged by over 70% to USD 18 billion, mostly in real estate, aviation and electronics. A significant proportion of the defaults (37%) was linked to HNA Group, a Chinese conglomerate involved in various industries including aviation, real estate, financial services, tourism and others. Our survey suggested that many of these sectors also had high cash-flow risks, with 67% of respondents in construction reporting over 10% of annual turnover tied up in ULPDs (Ultra Long Payment Delays), alongside 29% in ICT and 19% in transport.

Looking ahead, Coface expects corporate bond defaults and insolvencies to increase in 2021, especially in sectors that accumulated higher cash-flow risks in 2020, as indicated in our 2021 China Corporate Payment Survey. These are the sectors with the highest proportion of ULPDs amounting to over 10% of annual turnover, including construction (67%), energy (62%) and retail (30%).


[1] This 2021 China Corporate Payment Survey was conducted between February and April this year, and surveyed over 600 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.

Coface: for trade

With 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Debt Collection, Single Risk insurance, Bonding and Information services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients, in 100 countries, build successful, growing, and dynamic businesses across the world. Coface helps companies in their credit decisions. The Group’s services and solutions strengthen their ability to sell by protecting them against the risks of non-payment in their domestic and export markets. In 2020, Coface employed ~4,450 people and registered a turnover of €1.45 billion.

www.coface.com

COFACE SA. is listed on Compartment A of Euronext Paris.

ISIN Code: FR0010667147 / Mnemonic: COFA

#Coface

Back to School for Some Students in Ton Pheung District

Back to school for students in Ton Pheung district.

Primary and secondary schools in Ton Pheung district, Bokeo province, reopened certain classes on Monday in areas unaffected by the Covid-19 pandemic.

Health Authorities in Laos Prohibit Sale of Covid-19 Test Kits

Covid-19 rapid test kit

The Ministry of Health has prohibited the importation and distribution of Covid-19 rapid test kits.

MTR Corporation and Kerry eCommerce Join Hands to Launch “Kerry Express @ MTR Shops” New Retail Solution

HONG KONG SAR – Media OutReach – 25 May 2021 – MTR Corporation (Stock Code 0066.HK) and Kerry Logistics Network Limited (‘Kerry Logistics Network’; Stock Code 0636.HK) are pleased to announce their collaboration in launching an online-to-offline (‘O2O’) new retail solution through their respective sub-brands, MTR Shops and Kerry eCommerce, to bring new retail experiences to consumers in Hong Kong.

Jeny Yeung, Commercial Director of MTR Corporation (left) and

Samuel Lau, Deputy Manager Director – Integrated Logistics of Kerry Logistics Network

celebrate the launch of the “Kerry Express @ MTR Shops” new retail solution.

Jeny Yeung, Commercial Director of MTR Corporation (middle left), Samuel Lau,

Deputy Manager Director – Integrated Logistics of Kerry Logistics Network (middle right),

Margaret Chu, General Manager – Station Retail of MTR Corporation (left),

and Kevin Lam, General Manager of Kerry eCommerce

attend the “Kerry Express @ MTR Shops” new retail solution launch ceremony.

Jeny Yeung, Commercial Director of MTR Corporation (left) and

Samuel Lau, Deputy Manager Director – Integrated Logistics of Kerry Logistics Network

demonstrate the use of the self-service pick-up unit at “Kerry Express @ MTR Shops”.

The launch event held at Hong Kong Station today unveiled the first new retail collaboration, “Kerry Express @ MTR Shops”, between the two companies to meet modern-day consumer preferences by leveraging respective competitive edges in terms of business and infrastructure capability and coverage. The O2O new retail solution aims to enhance consumers’ online shopping experience with a new way of one-stop fulfilment solutions, bringing ease and expediency to online consumption.

Eight “Kerry Express @ MTR Shops” outlets will commence service tomorrow at MTR stations across Hong Kong, namely Hong Kong, Kowloon, Fanling, Fo Tan, Tseung Kwan O, Siu Hong, Diamond Hill and Kwun Tong stations. A total of 13 O2O outlets are set to open within this year as interactive stores and self-service pick-up units, in which the interactive stores will be additionally equipped with interactive screens that allow instant purchase and pick up for a selection of products. (Please refer to the annex for details)

Ms Jeny Yeung, Commercial Director of MTR Corporation, said, “The launch of the ‘Kerry Express @ MTR Shops’ new retail solution marks a milestone for the Corporation in playing a role in the new economy. We are excited to join hands with Kerry Logistics Network and introduce to our customers this new seamless and hassle-free e-shopping retail experience. Imagine how convenient it would be to make an online order at your fingertips and then collect it right at the station on your journey home by MTR.”

Mr Samuel Lau, Deputy Managing Director – Integrated Logistics of Kerry Logistics Network, said, “We are delighted to work with MTR Corporation to launch our first O2O outlets in Hong Kong. As online consumption becomes an integral part of 21st century living, speedy and convenient pick-up solutions are vital to the shopping experience. Building on MTR Corporation’s far-reaching presence in Hong Kong, coupled with Kerry eCommerce’s industry-leading service capabilities, we can bring ease and accessibility to more online shoppers.”

Through online purchase from KL Club and other quality partnering brands, customers can have the choice to pick up their products in any of the “Kerry Express @ MTR Shops” O2O outlets. MTR Mobile registered members will also be additionally rewarded with MTR Points for every pick-up through “Kerry Express @ MTR Shops” O2O outlets. The launch will be celebrated with flash sales of illy, Decathlon and Shopline products.

Annex: Locations of “Kerry Express @ MTR Shops” outlets

Open on 26 May 2021:

  • Hong Kong Station, Kowloon Station, Fanling Station, Fo Tan Station, Tseung Kwan O Station, Siu Hong Station*, Diamond Hill Station* and Kwun Tong Station*

Opening within 2021:

  • Tsuen Wan West Station*, Sai Ying Pun Station*, Yau Ma Tei Station*, Shek Mun Station* and Shau Kei Wan Station*

*Remark: Will serve as interactive stores

About MTR Corporation (Stock Code 0066.HK)

Every day, MTR connects people and communities. As a recognised world-class operator of sustainable rail transport services, we are a leader in safety, reliability, customer service and efficiency.

MTR has extensive end-to-end railway expertise with more than 40 years of railway projects experience from design to planning and construction through to commissioning, maintenance and operations. Going beyond railway delivery and operation, MTR also creates and manages dynamic communities around its network through seamless integration of rail, commercial and property development.

With more than 40,000 dedicated staff*, MTR carries over 13 million passenger journeys worldwide every weekday in Hong Kong, the United Kingdom, Sweden, Australia and the Mainland of China. MTR strives to grow and connect communities for a better future.

For more information about MTR Corporation, please visit www.mtr.com.hk.

*includes our subsidiaries and associates in Hong Kong and worldwide

About Kerry Logistics Network Limited (Stock Code 0636.HK)

Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and the strongest coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal), industrial project logistics, to cross-border e-commerce, last-mile fulfilment and infrastructure investment.

With a global presence across 59 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world’s emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.

Kerry Logistics Network generated a revenue of over HK$53 billion in 2020 and is the largest international logistics company listed on the Hong Kong Stock Exchange.

#MTR #KerryLogistics

Freightlancer acquires freight marketplace Loadshift, receives investment from Maas Group founders, appoints new CEO.

Freightlancer, a subsidiary of Freelancer Limited (ASX: FLN) (OTCQX: FLNCF) acquires Loadshift, Australia’s leading heavy haulage transport marketplace.

 

SYDNEY, AUSTRALIA – News Direct – 25 May 2021 – Freelancer Limited (ASX: FLN) (OTCQX: FLNCF), the world’s largest freelancing and crowdsourcing marketplace by total number of users and jobs posted, today announced that it’s partially owned subsidiary, Freightlancer, acquired Loadshift, Australia’s largest heavy haulage freight marketplace with 85.8 million kilometers of freight requested in 2020.

At the same time, Freightlancer received $3.7 million investment from Wes Maas, CEO and founder of Maas Group Holdings (ASX: MGH, market capitalisation $1.2b), a diversified industrials group, Tom Cavanagh, CEO & founder of EMS Group (now a division of ASX:MGH), a specialist in machinery hire, sales, repairs and rebuilds to support underground mining and tunnelling and others. Startive Ventures, a venture fund focused on global technology and Internet startup opportunities also participated in the round.

Tom Cavanagh, an experienced executive in the mining & equipment industries as founder and CEO of EMS group is also joining Freightlancer as Chief Executive.

Founded in March 2007 by entrepreneur Phil Callaghan, Loadshift has grown to be Australia’s largest online heavy haulage freight marketplace with 68,837 freight requests (up 26.8%) for 85.8 million kilometres of freight requested in CY 2020 and over 73,000 loads posted in the last twelve months.

Loadshift


Figure: The group achieved 9.1 million kilometers of freight posted in March 2021

In FY20, Loadshift EBITDA was approximately $766k. The purchase price was $7.7 million.

Freelancer Limited owns 53% of Freightlancer Holdings Pty Ltd after the transactions closed.

Forward-looking statements

This document contains certain “forward-looking statements”. The words “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “outlook”, “upside”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan” and other similar expressions are intended to identify forward-looking statements.

Indications of, and guidance on, future earnings and financial position and performance, including Freelancer’s FY21 outlook, are also forward-looking statements, as are statements regarding Freelancer’s plans and strategies and the development of the market. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Freelancer, which may cause actual results to differ materially from those expressed or implied in such statements. Freelancer cannot give any assurance or guarantee that the assumptions upon which management based its forward-looking statements will prove to be correct or exhaustive beyond the date of its making, or that Freelancer’s business and operations will not be affected by other factors not currently foreseeable by management or beyond its control. Such forward-looking statements only speak as at the date of this announcement and Freelancer assumes no obligation to update such information. The release, publication or distribution of this document in jurisdictions outside Australia may be restricted by law. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

About Freelancer

Twelve-time Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and projects posted. More than 50 million registered users have posted over 19 million projects and contests to date in over 1,800 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer owns Escrow.com, the leading provider of secure online payments and online transaction management for consumers and businesses on the Internet with over US$5 billion in transactions secured. Freelancer also owns Freightlancer & Loadshift, enterprise freight marketplaces with over 88 million kilometres of freight posted in 2020. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN and is quoted on OTCQX Best Market under the ticker FLNCF.

#Freelancer #Freightlancer

Marriott Bonvoy “Brings the World to You” across 11 hotels in Hong Kong!

HONG KONG SAR – Media OutReach – 25 May 2021 – This summer, Marriott Bonvoy members will find each visit to the 11 hotels and 46 restaurants and bars under 8 unique brands in Hong Kong extra rewarding. Members can enjoy sumptuous international cuisines and exceptional stay experiences right here in Hong Kong with double points and special accommodation privileges. Marriott Bonvoy is set to ‘Bring the World to You’!

From now until 31st August 2021, Marriott Bonvoy members can enjoy a members-only rate on selected packages from participating hotels and earn double bonus points via online booking from the official website or mobile app. Members can also receive a 10% discount voucher for their next hotel stay upon any spending at participating restaurants and bars under the Marriott Bonvoy portfolio.

Join Marriott Bonvoy today to start earning points towards hotel stays and receive exclusive rewards in Hong Kong. Learn More: https://hotel-deals.marriott.com/hk-bringing-the-world-to-you-en/

11 participating hotels in Hong Kong include:

1. The Ritz-Carlton, Hong Kong

2. The St. Regis Hong Kong

3. W Hong Kong

4. JW Marriott Hotel Hong Kong

5. Hong Kong Ocean Park Marriott Hotel

6. Hong Kong SkyCity Marriott Hotel

7. Sheraton Hong Kong Hotel & Towers

8. Sheraton Hong Kong Tung Chung Hotel

9. Renaissance Harbour View Hotel Hong Kong

10. Courtyard by Marriott Hong Kong

11. Courtyard by Marriott Hong Kong Sha Tin

Participating restaurants and bars: https://marriottbonvoyasia.com/r+b/benefits

For promotion details of individual hotels, please read appendix.

Appendix:

(All prices below are subject to 10% service charge)

Global Tastes All in One Place

Savouring authentic local delicacies is one of the biggest highlights of traveling. 46 restaurants and bars in 11 participating hotels under the Marriott Bonvoy portfolio in Hong Kong bring together international cuisines and extraordinary dining experiences. Let your taste buds take you on a trip around the world.

The Ritz-Carlton, Hong Kong is the tallest hotel in Hong Kong. Taking luxury to new heights, it has two Michelin-starred restaurants and the world’s highest rooftop bar. Sit back, take a sip of artfully mixed cocktails and enjoy the stunning view of Victoria Harbour.

The hotel is offering “The Stay & Dine Package”, which includes overnight accommodation in a Deluxe Room, a three-course Steak Fritz dinner for two at The Lounge & Bar, breakfast for two, 20% savings at the Spa and various dining venues, plus more. It’s time to indulge!

Located in bustling West Kowloon, W Hong Kong was conceptualized by acclaimed interior designers Yasumichi Morita from Japan and Nic Graham from Australia. Echoing urban colors among bright lights, it resembles an enchanting jungle for you to unwind. Contemporary décor and a soothing nature theme run through 393 hotel rooms and exquisite suites.

Whether you want to go local or sip on a cocktail, our hotel dining delivers things that you love. The hotel’s authentic Sing Yin Cantonese Dining showcases designs of Hong Kong’s streetscape and special Cantonese cuisine prepared by Executive Chinese Chef Johnny Chan, enabling you to enjoy both visual and gustatory pleasure. KITCHEN features stylish, whimsical designs and serves hearty international buffet options to satisfy diners’ cravings for delectable beverages and food. Enjoy international fare or an afternoon tea set with creative cocktails at WOOBAR to revel in unique experiences.

W Hong Kong is offering an accommodation package from HK$1,944, which includes a daily credit of up to HK$2,000 for beverage and food for two at W Hotel, and bliss® spa HK$500 gift voucher for selected treatments to give you a luxurious holiday.

JW Marriott Hotel Hong Kong features 8 superb restaurants and bars with scrumptious feasts from around the world. Asian delicacies at The Lounge, in-season West Australian lobsters at Fish Bar and Flint, as well as authentic yet innovative Cantonese cuisine at the MICHELIN-starred Man Ho Chinese Restaurant are ready to pamper your palate at all times. Travel with your taste buds and enjoy an exhilarating dining experience without leaving your hometown.

The hotel is now presenting the “JW Summer Delights” package to spice up your staycation with unparalleled gourmet offerings, where you will be offered an extended 24-hour stay from Monday to Thursday (except public holiday), breakfast buffet for two, HK$800 dining rewards to explore the enchanting flavors of the hotel’s restaurants and bar, or an in-room dining experience brought to you by the talented culinary teams. The internationally acclaimed Hong Kong SkyCity Marriott Hotel is located on Lantau Island. Featuring proximity to must-go local attractions such as Tai O Fishing Village, Po Lin Monastery, The Big Buddha, Ngong Ping 360 Cable Car, Cheung Sha Beach and Hong Kong Disneyland, leisure travelers will find tranquility away from the hustle and bustle.

From now until 27th June, the hotel offers the “Sakura & Matcha Afternoon Tea Set”, which includes a series of exquisite Japanese desserts with cherry blossoms and matcha to bring you on a Japanese flavor journey.

The Café in Sheraton Hong Kong Hotel & Towers offers the “Bon Appetit!” French Buffet which starts from HK$648 per adult and HK$324 per child. Highlighted items include freshly shucked French oysters and French-Cantonese fusion food featuring duck confit, escargots, French cheese platter and mouth-watering desserts. A table of traditional French delicacies and wines will be served to put you and your loves in a romantic Parisian mood.

Sheraton is offering the “Savour to the MAX Package” which includes one-night accommodation at a well-appointed Deluxe Room at only HK$1,300. Enjoy complimentary hotel dining credit that is equivalent to your room rate (HK$1,300 net), as well as early check-in at 12nn and late check-out at 2pm. Come and satisfy your inner connoisseur.

Sheraton Hong Kong Tung Chung Hotel opened its doors in December 2020. Showcasing scenic mountain and panoramic sea views, it is perfect for your leisure escape. The hotel offers distinctive dining venues with multi-faceted culinary journeys – from innovative Cantonese cuisine, a sophisticated grill restaurant to the best wines from all over the world.

Sunset Grill, the rooftop grill restaurant which opens up to a breathtaking sea view of Lantau Island, is offering a Sunday Champagne Brunch. Dishes include a temple of dry-aged meats and all things perfectly grilled to order, along with free-flow main courses served tapas-style, free-flow drinks ranging from Veuve Clicquot, house wines, soft drinks to juices.

In celebration of the hotel’s new opening, Marriott Bonvoy members can enjoy elevated comforts and heartfelt hospitality with the “Your New Neighbor Opening Offer” starting from HK$901. The package includes overnight accommodation in a Deluxe Room, daily breakfast for two, welcome drinks for two at the Lobby Lounge, and late check-out at 3pm. Relax more with less.

Courtyard by Marriott Hong Kong is located in the Central and Western Districts of Hong Kong Island. Smartly designed, about 70% of the guest rooms and suites feature sweeping views of Victoria Harbour. You can enjoy the panoramic view from the comforts of your cozy room. ‘Fine Dine-cation’ is one of the hotel’s most popular staycation packages. It includes breakfast for two and a three-course in-room dinner for two with a bottle of selected wine.

Momo Café’s lunch buffet offers unlimited seafood on ice, a hydroponic vegetable salad bar, cold cuts, selected grilled meats, MoMo signature stone-fired pizza and 6 flavors of Movenpick ice cream. Carving Friday serves up to 9 kinds of carving meat. During weekends and public holidays, complimentary sashimi platter per person will be offered.

For dinner, MoMo Café serves the Deluxe Seafood Platter x Carving Dinner Buffet. A set of complimentary Deluxe Seafood Platter is offered for every two persons. There is also unlimited seafood on ice, salad bar, MoMo signature stone-fired pizza and 6 flavors of Movenpick ice cream. Enjoy free-flow Stella draft beer at an extra HK$68. The weekend international seafood dinner buffet serves unlimited seafood on ice, including snow crab legs, mussels, prawns, freshly shucked seasonal St. Martin oysters, red shrimp sashimi, grilled Australian wagyu beef topside, free-flow Stella draft beer and selected juices, as well as 17 kinds of Movenpick ice cream at your choosing.

Marriott Bonvoy members can enjoy 35% off lunch buffet (starting from HK$120), and up to 50% off the dinner buffet (starting from HK$230).

Momo Café at Courtyard by Marriott Hong Kong Sha Tin invites you to a sensory journey of taste and sight via the Oyster & Bird’s Nest Temptation Buffet and Floral & Ocean Fantasy Afternoon Tea.

Collaborating with Aqua dos Açores, the hotel’s culinary masters bring you 12 delicacies made with natural ingredients. Inspired by ocean and nature, each tasty creation illustrates the story of Aqua dos Açores. Every tea set comes with one free gift set sponsored by Aqua dos Açores. Gift sets includes two 2ml Aqua dos Açores – FLORES and AZUL Perfume or Vinhas Velhas TINTO and Vinhas Velhas BRANCO Home Fragrances and one 20% discount voucher. Let your sweet memories linger.

Be spoiled by unlimited servings of freshly shucked oysters, grilled tiger prawns or lobsters, Peking duck and abundant choices of international cuisine. Elevate your culinary experience with our live cooking stations that demonstrate chefs’ crafting of unique delicacies. The tantalizing selection of desserts will definitely satisfy your sweet tooth – from Papaya Bird’s Nest Panna Cotta, Bird’s Nest Egg Tart, Bird’s Nest Tangerine Peel Cheesecake, 6 flavors of Movenpick ice cream and more. Buffet prices start from HK$328 per adult. Marriott Bonvoy members are entitled to a 30% discount.

Fun-filled Family Stays

The St. Regis Hong Kong is a curated mansion in the heart of Wan Chai district that blends architectural creativity, cultural diversity and timeless elegance. The hotel features 129 thoughtfully-designed guest rooms and suites which provide the perfect setting to offering the signature St. Regis Butler Service. Pamper your little ones and create memorable family moments by booking “The Ultimate Family Staycation at St. Regis” package. Rates start from HKD4,000 per room per night. The package includes hotel credits, one complimentary rollaway bed with personalized teddy bear and children’s amenities, and one family circuit training during the stay. Children under 12 years old can also enjoy one complimentary meal from the kids’ menu at either The Drawing Room or through in-room dining.

Inspired by the ocean motif, the design sensibilities of Hong Kong Ocean Park Marriott Hotel are reflected in the lobby which features a 16-meter high aquarium that spans across three floors of the hotel. The unique indoor cylindrical-shaped artificial coral reef is home to around 400 tropical marine fishes from about 80 tropical species. There is an outdoor lagoon pool, spa, fitness center, and a new submarine-themed Kids Corner with a tunnel and jungle gym for unforgettable fun times.

Book the “Ocean Park Experience Package” to enjoy a perfect getaway with your family. For a special price starting from HK$1,288, you are entitled to one-night accommodation in a Deluxe Room, daily breakfast for two adults and one child, and Ocean Park admission tickets for two adults and one child.

The hotel’s “Summer Splash” festival running from June to September promises to bring you and your family a memorable experience. Stay at the hotel and be entertained by fun-filled activities plus game booths this sizzling season.

Enjoy some uninterrupted family time at Renaissance Harbour View Hotel Hong Kong by discovering the hotel’s newly-introduced “Family Adventure Holiday Package”. The suites and rooms are specially decorated with intriguing kids tents and cute plush toys to deliver an in-suite camping experience. You can also enjoy extra perks including two free in-room movies per day and a complimentary rollaway bed. For a “little racer’s” holiday, the hotel’s “Weekend Culinary Adventure Package”, which includes an electric car experience for kids, is a fantastic choice. Let your little ones pump up their adrenalin through the thrill of driving a Lamborghini, Bugatti or Mercedes-Benz miniature car at the racing track. With diversified family staycation packages, every stay brings you a new experience.

High-resolution photos: https://bit.ly/3uZcoUg

About Marriott Bonvoy

Marriott Bonvoy is the award-winning travel program from Marriott International comprised of a portfolio of 30 hotel brands, a vacation home rental offering, all-inclusive resorts and hundreds of thousands of experiences. Members can earn and redeem points for stays and more, accelerating the points they earn with co-branded credit cards. The program offers more than 300,000 destination tours and activities, as well as exclusive experiences on Marriott Bonvoy Moments. When members book direct on Marriott.com they receive perks including free and enhanced Wi-Fi and exclusive member-only rates, and on the Marriott app they enjoy mobile check-in and checkout, Mobile Requests and, wherever available, Mobile Key. To enroll for free or for more information about Marriott Bonvoy, visit MarriottBonvoy.com. To download the Marriott app, go here. Travelers can also connect with Marriott Bonvoy on Facebook, Twitter and Instagram.

#MarriottBonvoy

China Dynamics Initiates Nasdaq Listing Process

HONG KONG SAR – Media OutReach – 25 May 2021 – China Dynamics (Holdings) Limited (the “Company”; Stock Code: 476, together with its subsidiaries, collectively “China Dynamics” or the “Group”), a global leader in electric vehicle (EV) technology, has initiated the application process to list the Company’s common shares on the Nasdaq (the “Proposed Listing”). Upon approval for trading on the Nasdaq, the Company would continue to trade on The Stock Exchange of Hong Kong Limited.

“As the world’s leading exchange for emerging growth companies, we see a Nasdaq listing elevating our profile in the global investment community and increasing awareness of our ongoing global deployments of our advanced EV technologies,” stated China Dynamics CEO Miguel Valldecabres Polop. “It is anticipated that additional working capital will be required for the development of our EV business and general working capital. We have considered various ways of raising funds and are of the view that the Proposed Listing represents an attractive opportunity to drive greater market participation and liquidity for our shareholders, increase our base of U.S. retail and institutional investors, attract analyst coverage, and ultimately enhance shareholder value over the near and long term.”

Since 2014, China Dynamics has emerged as a leading pioneer manufacturer in electric drivetrain and vehicle networking. It is an integrated driving and logistics solutions provider with the field of lightweight automotive body design and new energy platform power system.

“We also consider this an opportune time for the Proposed Listing as the Group plans to launch several new growth initiatives under the announced proposed name change to EV Dynamics (Holdings) Limited which coincided with the recently proposed federal investments for EV and EV infrastructure announced by the U.S. Government. Our aim is to achieve a valuation that better reflects the true value of our proprietary technology and rapid growth, especially now that it has penetrated the overseas sales market on EV,” added Miguel Valldecabres Polop.

The Company’s plans for the U.S. follows recently gaining major footholds in the Americas, Europe, Middle East, South East Asia and Japan through strategic investments, joint ventures, partnerships and large fleet sales.

Nasdaq’s acceptance for listing the Company’s shares on the Nasdaq is subject to approval based on several factors, including satisfaction of minimum listing requirements. The Company expects to satisfy those listing requirements; however, there can be no assurances when or if the application will be approved by Nasdaq.

About China Dynamics (Holdings) Limited (Stock Code: 476)

China Dynamics (Holdings) Limited is a pioneer and a prominent player in China’s new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas, including new energy platform power system and its key components. It maintains a production base in Chongqing, with a sales network in Mainland China, Hong Kong, Asia Pacific and South America. To better reflect the company’s mission to expand its electric vehicle sales to world markets, it has proposed to change its name to “EV Dynamics (Holdings) Limited””. To learn more, visit www.chinadynamics.hk.

Forward-Looking Statements

China Dynamics (Holdings) Limited cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by China Dynamics (Holdings) Limited or its advisors that any of its plans or expectations will be achieved, including but not limited to, to management’s expectations for revenue growth and global expansion. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in its business, including risks described in its prior press releases and filings with regulatory authorities. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

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