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Qupital Secures US$150 Million Round to Accelerate Global Expansion and B2B “Buy Now, Pay Later” Product

Asia’s leading e-commerce financing platform launches merchant financing securitization facility with Citi, first deal of its kind in Asia

HONG KONG SAR – Media OutReach – 9 November 2021 – Asia’s leading financial technology platform Qupital today announced it has raised US$150 million in a combination of Series B equity funding and a receivables-backed securitization facility. The equity funding will reinforce Qupital’s ambitions to scale its cross-border e-commerce lending business into international markets and further strengthen its technological capabilities, whilst the facility will provide a lower cost of funding for Qupital to offer exclusive products to its present and future clients.  

Qupital’s Co-Founder and President Andy Chan with Co-Founder and Chief Executive Officer Winston Wong (from left to right)

Qupital’s ambition is to become the go-to digital financial institution for e-commerce sellers trading across the globe in the New Economy.

 

The securitization facility entered with global investment bank Citi, supported by Integrated Alternative Credit Fund, marks the first e-commerce merchant financing securitization in Asia. This coincides with the closing of Qupital’s Series B round, led by the Greater Bay Area Homeland Development Fund (GBA Homeland), with additional capital injections from investors including the Innovation and Technology Venture Fund (ITVF) of the Hong Kong SAR Government, MindWorks Capital, Silverhorn and Alibaba Entrepreneurs Fund.

 

Qupital harnesses the power of sales data to streamline credit underwriting for sellers on e-commerce platforms such as Amazon, eBay, Lazada and Shopee, offering a win-win solution to both sellers and investors. The platform empowers creditworthy merchants that are traditionally underserved in the commercial lending market, and hews out an alternative asset class with attractive yield opportunities for both professional and institutional investors. As of October 2021, Qupital has achieved over US$500 million in loan advancement to some 7,000 merchants onboarded on its digital platform, tracking an annualized gross merchandise value (GMV) of over US$3 billion.

 

Series B round led by GBA Homeland Development Fund, joined by the ITVF of HKSAR Government

 

On top of the Series B funding, Qupital’s strategic placement within the GBA Homeland portfolio more importantly reflects the depth and breadth of its integration into the GBA ecosystem. As a global-scale alliance dedicated to promote the new economy in China’s GBA, GBA Homeland’s established network serves as a springboard for Qupital to augment local partnerships and on-the-ground knowledge to assist further expansion in the GBA and Greater China. With China cross-border e-commerce sustaining a 20% year-on-year growth, the rapid industry expansion renders extra confidence for Qupital to grow its customer base beyond its existing force which concentrates in Guangzhou and Shenzhen.

 

UK-based Nordstar’s e-commerce focused fund joins the round as a new investor. As a leading investment adviser focusing on international growth and scaling, Nordstar will lend its network to broaden Qupital’s customer base in Western markets and share the team’s expertise to expedite the company’s global expansion.

 

The majority of funds raised will be used to accelerate Qupital’s core lending business to support e-commerce sellers. As part of its five-year plan, the company is set to tap into its abundant network and grow its “buy now, pay later” product model to build an all-encompassing marketplace tailored for B2B transactions. It will assign resources to enhance its R&D capabilities in terms of artificial intelligence, big-data technology and MLOps. The company also has plans to extend its footprint across mainland China, as well as international markets including Southeast Asia, North America and Europe. It expects to triple the size of its team by 2022 to support expansion needs.

 

“This funding round reinstates the boundless synergy agglomerated in the region”, said Winston Wong, Co-Founder and Chief Executive Officer of Qupital. “the GBA comprises multiple world-class manufacturing bases, where goods are produced and capital needs arise; this is where we step in as a solution to bridge the financing demand gap. It also reaffirms the unparalleled role of Hong Kong as an international financial hub – where innovations are met with opportunities to flourish. We believe Hong Kong will continue to play an indispensable role within the GBA as a financial powerhouse.”

“As we aspire to improve financial inclusion and increase global trade ultimately, we are committed to back SMEs that have limited access to capital. Being able to work with Citi on this credit facility has fueled our business with a stable pool of funds and improved cost of capital. It is the cornerstone for us to sharpen our product features, build exclusive relationships with clients and win over market share to gain even stronger foothold in the global market”, said Andy Chan, Co-Founder and President of Qupital. “Our ambition is to become the go-to digital financial institution for e-commerce sellers trading across the globe in the New Economy.”

About Qupital

Established in 2016, Qupital is a financial technology company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Fuzhou, Shanghai and Hangzhou. The company specializes in cross-border e-commerce trade finance and makes use of big data, machine learning and predictive analytics capabilities to automate credit decisioning and monitoring.

For more information, please visit: https://www.qupital.com/.

#Qupital

About the Investors

Greater Bay Area Homeland Development Fund

Greater Bay Area Homeland Development Fund was jointly established by international large-scale industrial institutions, financial institutions and new economic enterprises. It aims to grasp the historical opportunities of the development of Guangdong-Hong Kong-Macao Greater Bay Area, and the construction of an International Innovation and Technology Hub, focusing on technological innovation, industrial upgrading, quality of life, smart city and all other related industries. The Fund covers venture capital, private equity investment, listed company investment, M&A investment and so on to offer financial support for outstanding entrepreneurs and enterprises, connecting industrial and financial resources, achieving long-term returns for shareholders and investors, and contributing positively to economic and social development.

For more information, please visit: http://www.gbahomeland.com

Innovation and Technology Venture Fund

The ITVF is a HK$2 billion fund established by the HKSAR Government in 2017 with a view to attracting more private capital to invest in local I&T start-ups and creating a more vibrant innovation and technology ecosystem in Hong Kong. The ITVF will co-invest with selected co-investment partners at a matching investment ratio of approximately 1 to 2.

MindWorks
MindWorks invests in and empowers Asia’s brightest entrepreneurs to build transformational companies. The venture capital firm utilizes a Pan-Asia strategy to source direct investments in technology companies across both Greater China and Southeast Asia. Founded in 2013, the firm is headquartered in Hong Kong with offices in Beijing, Shanghai, and Jakarta.

MindWorks has been recognized by Preqin as a top-performing venture capital firm and is also a signatory of the United Nations’ Principles for Responsible Investment.

The firm currently manages over US$1 billion in total net asset value across its funds and is a co-investment partner of the Innovation Technology Venture Fund initiated by the Hong Kong Government.

Silverhorn
Founded in 2010, Silverhorn Group is an owner-managed, Asian multi-asset specialist delivering intelligent investing solutions that bridge the gap between Europe and Asia. Silverhorn offers flagship products in private debt, private equity and multi-asset classes as well as access to key opportunities in the region. The 50+ team members are across the headquarters in Hong Kong, Singapore, Switzerland and a research hub in India. www.silverhorngroup.com

Nordstar
Nordstar is an investment and advisory platform that partners with growth companies seeking strategic and operational expertise, tailored advice, and smart capital. Founded by Ole Ruch and Eugen Miropolski, the firm provides founders access to first-hand insights gained from expanding and growing some of the most transformational businesses of the past decade internationally. Find us at www.nordstar.com.

Midea Enlists Fans to Select the Ultimate AFF All Star Team

The Home Appliances giant has introduced an online campaign for fans to assemble their all-star team in ASEAN football history and win prizes

SINGAPORE – Media OutReach – 9 November 2021 – Midea, one of the world’s leading home appliances producers and main sponsors of the upcoming ASEAN Football Federation (AFF) Championship – also known as the AFF Suzuki Cup 2020 – launched an interactive online campaign to engage football fans around the world ahead of their 11.11 shopping carnival.

The campaign, known as #HomeOfTheBest11, put the power in fans’ hands as they determine the best 11 players in ASEAN football history. Participants can select the best player for each position they think most people would vote for on the official AFF Suzuki Cup website. The final #Best11 All Star team will be unveiled on November 11 at 11:11 am Singapore time. Consumers across ASEAN countries will also have the chance to preview the exciting 11.11 deals on local Midea e-commerce outlets and plan their buys. Fans with the most correct picks will stand the chance to win prizes provided by Midea and AFF, with a total of 88 winners across Southeast Asia. The prizes range from exclusive signed AFF merchandise to Midea home appliances.

 

“We are thrilled to be at the center of all the enthusiasm around the AFF Suzuki Cup and honored to be able to bring fans around the region together despite the distance. We used 11 Midea star appliances to represent each position within the #Best11 All Star team, and to highlight their individual strengths and characteristics. We look forward to finding out who fans think are the best AFF players of all time,” said Jackie Huang, General Manager of Midea International Business Asia & Pacific Region.

To rally fans’ support and participation in the campaign, three legendary AFF players – including forward Safee Sali from Malayasia, midfielder Charyl Chappuis from Thailand, and former Indonesian team captain Ponaryo Astaman – released videos on both Midea’s and AFF’s Facebook pages and urged people to make their best 11 picks before 11.11.

Charyl Chappuis, professional football player for the Thailand national team, shared, “I am excited about this one-of-a-kind opportunity for fans around the world to band together and share their common passion for ASEAN football.”

The #HomeOfTheBest11 campaign began on November 1 at 11:11 am and ends on November 11 at 11:11 am Singapore time. Fans are invited to check out the promotional videos on Midea’s Facebook page at www.facebook.com/MideaGlobal/, and take part in the voting by visiting the AFF Suzuki Cup website at www.affsuzukicup.com/2020/fan-zone/midea-home-of-the-best-11. The official list of top 11 AFF players will be published on November 11 at 11:11 am and all winners will be notified via email on the same day. As of now, the campaign has reached over 2 million football fans and received hundreds of submissions.

About AFF Suzuki Cup

The AFF Suzuki Cup is a biennial football competition organised by the ASEAN Football Federation (AFF), accredited by FIFA, and contested by the national ‘A’ teams of Southeast Asia.

In 2020, the 13th edition of the AFF Suzuki Cup will continue the format where 10 qualified teams will be split into two groups of five and play a round robin system, with each team playing four fixtures. The format of the knockout round remains unchanged, with semi-finals and the final played on two-leg format.

www.affsuzukicup.com

About the ASEAN Football Federation (AFF)

The ASEAN Football Federation comprises 12 Member Associations. The main objectives of the ASEAN Football Federation are to develop football in ASEAN through its activities, courses and competitions, to continue to nurture the AFF Suzuki Cup as the premier Football Tournament in Asia and to foster closer relationships between Member Associations in ASEAN and the Regional Federations across Asia.

www.aseanfootball.org

About Midea & Midea Group

Midea is one of over 10 brands within the home appliance business of Midea Group – a leading global high-technology company ranked #288 at 2021’s Global Fortune 500. Midea Group’s business goes beyond home appliances and comprises business pillars like Smart Home, Electro-Mechanical, HVAC & Building Technologies, Robotics & Automation, as well as Digital Innovation. All businesses of Midea Group are striving for one credo: #HumanizingTechnology.

Midea Home Appliances brand offers one of the world’s most comprehensive product ranges in the home appliance industry, specializing in air-treatment (commercial and residential air conditioning solutions), refrigeration, laundry, large kitchen and cooking appliances, small kitchen appliances, water appliances, floor care and lighting.

Midea believes in providing surprisingly-friendly solutions by adopting a consumer-centric and problem-solving approach. Going above and beyond for the future, constantly exploring and inventing to meet the ever-changing demand of our consumers.

Midea is, among many others, the world’s #1 Air Treatment Brand [1], the world’s #1 Small Cooking Appliances Brand [2], the world’s #1 Air Coolers Brand [3], the world’s #1 Cooling Fans Brand [4], and the world’s #1 Rice Cookers Brand [5].

Midea’s globally 34 production centers and over 150,000 employees in more than 200 countries and regions generated an annual revenue of more than USD 41.4 billion in 2020. Midea’s 28 worldwide innovation centers and the strong commitment to R&D have resulted in more than 62,000 authorized patents to-date.

www.midea.com

www.midea-group.com/Our-Businesses/smart-home/midea

[1] “Midea – World’s No.1 Air Treatment Brand”
Source: Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data”

[2] “Midea – World’s No.1 Small Cooking Appliances Brand”
Source: Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data.

[3] “Midea – World’s No.1 Air Coolers Brand”
Source: Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data.

[4] “Midea – World’s No.1 Cooling Fans Brand”
Source: Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data.

[5] “Midea – World’s No.1 Rice Cookers Brand”
Source: Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data.

#Midea

Microban® International announces a new range of antiviral technologies

NORTH CAROLINA, USA – News Direct – 9 November 2021 – Microban International, the global leader in antimicrobial solutions, odour control and residual sanitisation/disinfection solutions, is pleased to announce a new range of antiviral technologies that are proven to reduce viral loading on products and surfaces. Microban has long been a trusted partner in a wide range of sectors – from consumer and healthcare to industrial and construction – and this announcement adds to the versatility of the company’s technology portfolio.

 

Microban® technology can be incorporated into various materials during manufacturing, becoming part of the product’s structure to provide inherent and enduring protection from microbes. Recent data demonstrates that new antiviral technologies from Microban conform to both ISO 18184 – which assesses the antiviral performance of treated textile products, such as woven and knitted fabrics, fibres, yarns, and braids – and ISO 21702, which measures activity in treated plastics and other non-porous surfaces. Thorough testing was performed to evaluate the efficacy of each product type against many viruses, including bacteriophage Phi6, an important surrogate virus for SARS-CoV-2. The results showed that articles treated with these technologies can now benefit from reduced viral loading* by up to 99 %.

 

Antiviral technologies from Microban inhibit the viruses’ ability to remain viable on surfaces. The modes of action vary, disrupting the structure of either the outer protein coat – to prevent viruses from recognising or binding to host cells – or nucleic acid payload, to prevent viral replication. This gives manufacturers a valuable product feature and provides consumers with added peace of mind.

 

Michael Ruby, President of Microban International, explained: “We are excited with the latest results confirming the antiviral activity of our new technologies. Assessing antiviral efficacy in treated products to a standard that meets the complex regulatory landscape is an arduous process, but we have been confident throughout that our innovative solutions conformed to the rigorous ISO standards. Our world-class research team and global in-house regulatory department worked diligently to ensure that the technology is recognised as effective and compliant across various markets, to support partners with their claims and give customers even greater confidence in products protected with Microban antiviral technology.”

 

Following the start of the COVID-19 pandemic, there was a monumental upsurge in demand for antiviral technology in products and it is readily acknowledged that Microban was not the first in the industry to make antiviral claims. Instead, the company invested a considerable amount of time and resources to ensure that its antiviral technologies were not only scientifically proven to be effective in reducing viral loading on surfaces and products, but that they could also be used in a regulatory compliant manner by brands and manufacturers across a variety of territories and product types. Microban is committed to being a reliable and trusted industry leader, and its unrivalled regulatory expertise can help to ensure that partners are aware of the implications that antiviral claims can have on their product types in the countries where they are being sold.

 

For more information on Microban’s new range of antiviral technologies and registration requirements in your territory, visit https://www.microban.com/antiviral/technologies or contact your Microban representative.

 

*Antiviral efficacy may vary depending on substrate type, application dosage of the treatment, impurities, and application procedure. Only Microban antiviral technologies that are registered with US EPA and are EU BPR compliant are being offered for sale. In the US, antiviral technologies may only be incorporated into products that are or will be registered with the US EPA. Contact your Microban representative for further information.

About Microban International:

Part of Barr Brands International (BBI), Microban International is home to the most trusted and well-known global brands in the antimicrobial, odour control, and sanitisation / disinfection markets – Microban® and Ultra-Fresh®. Our organisation has experienced over 100 collective years of growth and has revolutionised the industry. As the global leader, our proactive systems keep products cleaner, and control odours better by preventing problems before they start. Microban International drives innovation by combining science and creative solutions that enhance high-quality consumer, textile, industrial and medical products around the world. Today, the Microban and Ultra-Fresh brands and our technologies are featured on thousands of products worldwide. The company is headquartered in North Carolina with operations in North America, Europe, and Asia Pacific. For more information, please visit www.microban.com.

#MicrobanInternational

Laos Confirms Over 1000 New Cases of Covid-19

Vientiane Covid Update

 

Laos has recorded 1049 new cases of Covid-19 across the country today, with three new deaths.

Manulife Hong Kong reports strong growth for third quarter and first nine months of 2021

HONG KONG SAR – Media OutReach – 9 November 2021 – The Manulife group of companies operating in Hong Kong (“Manulife Hong Kong”) today announced strong financial results for the third quarter and first nine months of 2021, reporting robust growth in core earnings, annualized premium equivalent (APE) sales and new business value (NBV).

Results overview: 

Core earnings

  • Core earnings of HK$5.3 billion in the first nine months of 2021, up 16% from the same period of 2020, and HK$1.9 billion in 3Q 2021, up 16% from 3Q 2020

APE sales

  • APE sales of HK$4.9 billion in the first nine months of 2021, up 10% from the same period of 2020, and HK$1.7 billion in 3Q 2021, up 12% from 3Q 2020

NBV

  • NBV of HK$3.5 billion in the first nine months of 2021, up 34% from the same period of 2020, and HK$1.2 billion in 3Q 2021, up 42% from 3Q 2020

Mandatory Provident Funds (MPF) market share

  • Manulife was the largest MPF provider with a market share of 26.5% based on assets under management as at September 30, 2021, up 1.9 percentage points from a year ago
  • Manulife was also the leader in terms of estimated net cash flows for the period from July 1, 2021 to September 30, 2021 with a market share of 58.2%

Agency force

  • Record-high number of agents at 10,815, up 6% from the prior year quarter
  • Agency force remained the key contributor to insurance, annuity and MPF businesses

“We’re pleased to report another quarter of strong results with core earnings growth year-on-year in every quarter of the last four years,” said Damien Green, Chief Executive Officer of Manulife Hong Kong and Macau. “Both NBV and NBV margins have increased compared with the prior year quarter, reflecting the quality of our insurance business. All distribution channels contributed to the outstanding performance. Our agency force reached a record high in numbers and delivered strong performance in insurance and pension sales. Our other distribution channels also reported significant growth in APE sales as we see continuous demand for our wide range of product offerings across different customer segments.”

 

Year-to-date core earnings grew by 16% to HK$5.3 billion from HK$4.5 billion in the same period last year. Third quarter 2021 core earnings hit a record high at HK$1.9 billion, up 16% from HK$1.6 billion in the previous year quarter. Drivers for the growth included strong in-force growth, higher new business volumes and favourable product mix. 

 

Year-to-date APE sales were HK$4.9 billion, up 10% from HK$4.5 billion in the same period of 2020. Third-quarter 2021 APE sales rose 12% to HK$1.7 billion from HK$1.5 billion in the previous year quarter, reflecting strong growth in Manulife Hong Kong’s bank channel, demand from mainland Chinese visitors through its Macau branch, and an expanded agency force.

 

In the first nine months of 2021, NBV rose 34% to HK$3.5 billion from HK$2.6 billion in the prior year period. Third-quarter 2021 NBV was HK$1.2 billion, an increase of 42% compared with HK$0.9 billion in the prior year quarter, due to higher sales volumes, favourable interest rates and product management actions. Hong Kong’s NBV margin was 70.6% in the third quarter, an increase of 14.6 percentage points compared with the prior year quarter.

 

Manulife Hong Kong has enhanced its health solution offerings by joining hands with Hong Kong Baptist Hospital to provide customers with access to a new and advanced day medical centre starting July 2021. Last month, it also announced the launch of Holistic Professional Medical Support Service and a strategic partnership with CUHK Medical Centre to give customers priority access to specialists in oncology.

 

In 3Q 2021, the company expanded its footprint in Hong Kong with the opening of the Manulife Prestige Centre in Tsim Sha Tsui to better serve its high-net-worth customers. It has also strengthened its brand presence by becoming a major sponsor of the recently opened Water World Ocean Park.

 

“Manulife is committed to continued growth and investment in Hong Kong. We recently launched a prominent harbourfront signage at the Great Eagle Centre, and some of our agents will soon move into the Manulife Place in Kowloon East. Next year, we’ll celebrate our 125th anniversary in Hong Kong. We’re excited to see our investment[s] in Hong Kong help our professional advisors grow their business and make our customers’ lives every day better,” added Mr. Green.

Notes:

I.  Manulife Hong Kong includes all our Hong Kong businesses including insurance, insurance-based wealth accumulation products, and our wealth and asset management businesses.

ii.  All percentage changes are stated on a year-over-year basis, except for MPF market share.

iii. Core earnings for Manulife Hong Kong include insurance and insurance-based wealth accumulation products, and exclude our wealth and asset management businesses. Core earnings is a non-GAAP profitability measure. For full definition of core earnings, see “Performance and Non-GAAP Measures” in Manulife Financial Corporation’s 3Q21 Management’s Discussion and Analysis.

iv.  Annualized premium equivalent (“APE”) sales are presented to provide consistency of scope for NBV disclosures and industry practice. APE sales consist of insurance and insurance-based wealth accumulation products, and exclude our wealth and asset management businesses. They comprise 100% of regular premiums/deposits sales and 10% of single premiums/deposits sales.

v.   New business value (“NBV”) is the change in embedded value as a result of sales in the reporting period. NBV is calculated as the present value of shareholders’ interests in expected future distributable earnings, after the cost of capital, on actual new business sold in the period using assumptions that are consistent with the assumptions used in the calculation of embedded value. NBV excludes businesses with immaterial insurance risks, such as Hong Kong’s wealth and asset management businesses. NBV is a useful metric to evaluate the value created by Manulife Hong Kong’s new business franchise.

vi.  MPF market share is measured by share of assets under management and estimated net cash flows by scheme sponsor. Source: Mercer MPF Market Shares Report as at September 30, 2021.

About Manulife Hong Kong

Manulife Hong Kong, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited and Manulife Provident Funds Trust Company Limited. As a member of the Manulife group of companies, Manulife Hong Kong offers a diverse range of protection and wealth products and services to individual and corporate customers in Hong Kong and Macau.

About Manulife

Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our global wealth and asset management segment, we serve individuals, institutions and retirement plan members worldwide. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of September 30, 2021, we had CAD$1.4 trillion (HK$8.6 trillion) in assets under management and administration, and in the previous 12 months we made CAD$31.6 billion in payments to our customers.

Our principal operations are in Asia and Canada, and the United States, where we have served customers for more than 155 years. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

#ManulifeHongKong

The Chinese University of Hong Kong (CUHK): where students get what they need

HONG KONG SAR – Media OutReach – 9 November 2021 – The Chinese University of Hong Kong (CUHK) is a comprehensive research university, which helps students stand out and equip them to deliver top-notch studies. The Hong Kong PhD Fellowship Scheme (HKPFS) at CUHK is now open for top academia worldwide to pursue their PhD studies in Hong Kong.

 

The generous scholarship for graduate students makes their lives comfortable and helps them focus on their studies and not to be worried about their financial wellbeing. The HKPFS at CUHK offers financial support up to US$210,000, covering tuition fee, monthly stipend, conference and research-related travel expenses, lodging allowance, and also guarantee on-campus accommodation to support student’s research studies.

 

I chose CUHK because of the overall environment and the remarkable quality of professors. I am fulfilled as I have had the chance to establish a friendly and academically profitable relationship with my supervisor and other scholars and peers.”

(Ph.D. Student in Religious Studies from Italy)

 

I would like to thank CUHK and HKPFS for giving me the chance to pursue my dream of becoming an academic professor. The extremely supportive and motivating research team and faculty members constantly encourage my research on atmospheric modelling. CUHK feels like a second home to me.”

(Ph.D. Student in Earth and Atmospheric Sciences from Nepal)

 

If students are determined to embark on a career in research and develop full potentials, joining HKPFS at CUHK is the best chance for students to accelerate their academic research and conduct breakthrough research that will make a difference to the world. The application deadline is on 1 December 2021. To learn more details, please visit https://www.gs.cuhk.edu.hk/hkpfs?utm_source=CM&utm_medium=CM&utm_campaign=HKPFS

Why Being A Paperless Company Is Important In Today’s Age

For most companies and organizations, attaining a paperless work environment is a desirable thing to do and it means that a company is willing to reduce paper consumption and ultimately reduce the carbon footprint. Even clients and customers are now demanding companies to go paperless. If going 100% paperless is not possible then companies can try to make huge impacts by at least initiating this movement. Here are some reasons why being a paperless company is important in today’s age:

You Can Save Your Time

Time is money in today’s age and there are advantages to going paperless, especially that you can save your time and also your employees’ time. By going paperless, filing documents no longer means printing out documents and filling them out, only to search them manually later. While, by going paperless and using digital documents, all of this can be done in just a few moments, especially finding a document. Finding a document is as easy as it gets and you just need to perform a computer search. 

Even if you need to find a specific line from very long and lengthy documents, you can find everything with just a quick search. Now, make a rough estimate of how much easier it would be for you and your colleagues to find documents and how much work hours would be saved by this.

You Can Also Save Space And Money

Now that it is mentioned that you can save time by going paperless, let’s talk about space that you can save by going paperless. Boxes full of papers and files that have accumulated over time demand special rooms and cabinets and for this, you need a separate room where you can store all those files and boxes.

With digital documents, that is not the case. You can store a couple of thousands of documents on your computers and it won’t take much storage space. With document formats such as PDF, Word, Excel, etc, it is much easier to save a lot of files without consuming much storage space. 

Plus, the best thing about digital documents is that you can easily convert one format into another and send or store the files that you feel is the best for your company. Converting PDF to Word or PDF to JPG is very simple & easy and also is the conversion back into PDF, i.e JPG to PDF or Word to PDF. This flexibility that you get with digital documents is not available with pieces of paper.

No Digital Borders

Another advantage of going paperless is that there are no digital borders involved. You can store tons of documents in the cloud and these documents can be accessed instantly without any border restrictions or geographical restrictions. For multinational companies, this is very helpful as documents of one branch can be accessed easily from another branch, located in another country. 

For instance, if an employee created a document in Laos and a co-worker from the US wanted to access it then it can be possible in just a few moments, unlike paper documents. 

Security Of Documents

Some might argue that digital documents are less secure as compared to physical, paper documents but that may be actually more secure if you take precautionary measures. Companies have to make sure that the cloud where they are storing their data is encrypted and private where it is not possible for anyone other than the company’s employee to access documents. 

Another plus point for digital documents is that they are not vulnerable or at the risk of being destroyed in a fire or natural calamity or stolen in a burglary. Security is a complex subject and there are arguments on both sides, whether digital documents are safe or not but at last, it all comes down to personal preferences. 

Environmental Benefits

There are also environmental benefits involved too. An average company handles and processes more than 10,000 pieces of paper every year and this can add up to a lot of carbon footprint. There are some companies available that have strict recycling policies but still, going paperless and eliminating papers from offices can help reduce carbon emission and ultimately, put less strain on the environment. 

These are some of the reasons why being a paperless company is important in today’s age. Of course, there are many other advantages and benefits of going paperless. In a nutshell, going paperless in today’s age is beneficial for both business and environment and any business who want to succeed should consider going paperless.

Which Games And Sports Are Popular Among Locals In Laos?

Sports are important for people as they are not a way to get yourself involved in an activity that entertains you and keeps you happy but also a way to meet other people and socialize with your friends. All across the globe, sports have become an integral part of different countries’ culture and the same is the case in Laos, where sports have strong relations with the country’s culture but which games and sports are popular in Laos?  Let’s have a look at some of the most popular games in the country of Laos: 

Sepak Takraw (Kataw)

Sepak Takraw is the national sport of Laos and also the most popular one. The sport is called Sepak Takraw but in the general public, it is also known as kataw. The game is simple and easy to play; Just like volleyball, you need a net, a rattan ball or plastic ball, and a total of six players, having three players on each side. 

The objective of the game is to perform a maximum of three passes to yourself or your teammates and send the ball in the opponent’s half. If your opponents cannot send the ball back towards you and fail to continue the game, you score a point. If your opponents send the ball out of bounds then you also score a point. Each round or innings is finished when either team scores 21 points. The first team to win 2 innings wins the match. 

The game is inspired by volleyball and very much similar to it except for the fact that you can use all the parts and surfaces of your body except for your hands and arms. This is the main twist in this game and similar to football, you have to play the game using your feet and legs.

Muay Lao

Muay Lao or Traditional Lao Boxing is a very popular sport of mixed martial arts in the country. All over the world, this sport has the reputation of being one of the most violent disciplines. Unlike boxing that is played all over the world, Muay Lao is a bit different. Muay Lao is very much similar to Muay Thai from Thailand and Tomoi from Malaysia. It is basically a mixed martial arts sport that involves knee strikes, punches, elbows, and kicks.

The fights between the fighters take place according to a ritual and the fighters before the start of any fight kneel down and pay homage to their Master(s) and pray. Once that is done, the fight starts which is played with musical background by a group of traditional musicians.

As it is evident from the discussion, the people of Laos are usually involved in physical sports rather than playing board games such as Scrabble which require several players to use Scrabble Word Finder and Jumble which at extremely difficult level cannot be solved by regular players and they have to use Jumble Solver to finish the game.

Petanque

The game of Petanque, which is the Laos National Game, is originally a French game. The game involves the players throwing or rolling a hollow metal ball close to a small wooden ball which is usually referred to as ‘jack’. The player who pitches his metal ball close to the jack wins but while pitching, the players must stay inside a circle and stand on both their feet.

The game of Petanque is very popular since it can be played almost everywhere, from streets to parks, from hard ground to gravel, it doesn’t matter what the conditions of the place are. For locals, the game has become an indispensable tradition and they play it everywhere. 

Whether it is adults or children, you will find people of all ages playing this game because the game involves no thinking and is a matter of skill and luck that how you pitch to jack. It is a way for many locals to stay happy and relaxed after hours of hard work.

In addition to these three games that are popular and played all over the country, certain other games such as billiards and cock-fighting are also popular. Cock-fighting is officially banned in the country and is usually played in a hidden manner, however, for billiards, the locals are getting passionate and you will find a pool table in almost every bar of the county.