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In Celebration of Sotheby’s Maison Opening Sotheby’s and LANDMARK Unveil the Largest Woolly Mammoth Public Showcase in Hong Kong

By
Laotian Times
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At 3.5 Meters Tall, a Rare 12,000-Year-Old Monumental Woolly Mammoth goes on Public View from 15 – 29 August at LANDMARK ATRIUM


As Part of Sotheby’s “Another World” Exhibition
Giants of The Ice Age: Travel to Prehistoric Earth with The Woolly Mammoth

Sign Up Now: Sotheby’s Summer Public Programme
Uncover Earth’s Natural Evolution with Cambridge Anthropologist

HONG KONG SAR – Media OutReach Newswire – 15 August 2024 – Hard on the heels of Sotheby’s Maison opening at LANDMARK CHATER, Sotheby’s and LANDMARK today joined forces to unveil the exhibition of a 12,000-year-old, 3.5-metre-tall, monumental woolly mammoth. Marking Hong Kong’s first-ever public display of a mammoth skeleton of this scale in the heart of the city, the exhibition at LANDMARK ATRIUM of this pre-historic marvel from 15 to 29 August is poised to send ripples of wonder and curiosity throughout the community.

Sotheby’s unveils a rare and complete 12,000-year-old woolly mammoth skeleton, mammuthus primigenius, Siberia, Russia, late Pleistocene at LANDMARK ATRIUM as part of Sotheby’s “Another World” Exhibition from 15 – 29 August
Sotheby’s unveils a rare and complete 12,000-year-old woolly mammoth skeleton, mammuthus primigenius, Siberia, Russia, late Pleistocene at LANDMARK ATRIUM as part of Sotheby’s “Another World” Exhibition from 15 – 29 August


Sotheby’s Summer Public Programme
As part of the company’s vision to inspire generations of art and culture enthusiasts, Sotheby’s is hosting a series of public workshops this summer. Taking the lead, on August 24, Sotheby’s invites parents and children to a “Discover, Learn & Play: An Exciting Archaeology x Biology Workshop for Young Explorers.” Led by Professor Rivera, a biological anthropologist from the University of Cambridge, along with a leading education expert from Cambridge, participants will delve into Earth’s natural evolution and hone their critical thinking skills through hands-on DNA modelling.

Date 24 August (Saturday)
Venue LANDMARK ATRIUM
Remarks Available for free public registration on a first-come, first-served basis


Reservations are available here (https://www.sothebys.com/WOOLLYMAMMOTH).

Mr Nathan Drahi, Managing Director of Sotheby’s Asia said: “The opening of our Maison in the heart of Hong Kong marks a new era for Sotheby’s. This new location enables us not only to bring Sotheby’s closer to the community but also feature some of the world’s most unique and diverse objects to the public, thereby sparking curiosity amongst all whom visit Sotheby’s.”

Woolly mammoths (Mammuthus primigenius) – perhaps the most well-known and studied species of mammoth – conquered the earth during the last ice age, known as the Pleistocene epoch. Exceptionally well preserved in its entirety, this rare complete individual woolly mammoth skeleton is unlike other examples found in museums, which are often composed of bones from multiple specimens. Extant in Siberia at the time of the third Ice Age, the species existed at the same time as the Neanderthal man, during the Middle Paleolithic period and as the Homo sapiens during the Upper Paleolithic Period until their extinction around 12,000 BC. Hunted by prehistoric man, mammoths developed special teeth and defences to protect themselves from predators and hunters. Their long, curved tusks were used not only in self-defence, but also for digging and scraping beneath the snow for food. These naturally formed tusks emerged at birth and continued to grow in an organic curve throughout their lifetime.

Titled Giants of The Ice Age: Travel To Prehistoric Earth With The Woolly Mammoth as part of Sotheby’s “Another World” exhibition, this remarkable fossil will take centre stage on the ground floor of LANDMARK ATRIUM.

“This rare exhibition with Sotheby’s marks the first of a series of exceptional experiences LANDMARK brings to Hong Kong as part of our ‘Tomorrow’s CENTRAL’ transformation. Our vision is to curate world-class experiences that will enrich and inspire our community,” Alvin Kong, Executive Director, Hongkong Land said.

A spectacular prehistoric woolly mammoth skull from the Quaternary period (2.6 million years old) from Siberia
A spectacular prehistoric woolly mammoth skull from the Quaternary period (2.6 million years old) from Siberia

A stone’s throw away, on the first floor of its Maison at LANDMARK CHATER and lodged with its Salons – Sotheby’s curated retail offering spanning hundreds of objects and 80 million years of history – visitors can also see two other spectacular specimens.

These entail a spectacular prehistoric woolly mammoth skull from the Quaternary period (2.6 million years old) from Siberia and a Gryposaurus (a Juvenile Gryposaur) from the Late Cretaceous period (100 million to 66 million years ago).

A Gryposaurus (a Juvenile Gryposaur) from the Late Cretaceous period (100 million to 66 million years ago)
A Gryposaurus (a Juvenile Gryposaur) from the Late Cretaceous period (100 million to 66 million years ago)

The skeleton of the baby Gryposaur is one of the most spectacular and important discoveries in palaeontology in recent times. A fully matured Gryposaurus adult would have been around 27 feet long. This baby Gryposaurus, found in a cliff face in the Judith River Formation of Montana, Western United States, measures just under nine feet in length and likely died in a catastrophic flash flood. This is one of only a small handful of Gryposaurus to have ever been discovered.

A source of fascination and wonder for generations, dinosaurs and other prehistoric fossils have become increasingly popular as a modern collectible in recent years. Sotheby’s has conducted numerous historic sales of Natural History, including the sale at US$8.3 million of “Sue”, the most complete T. rex fossil to have been discovered. Most recently in New York, “Apex”, the finest stegosaurus that ever appeared, made history at Sotheby’s to become the most valuable fossil ever sold publicly (US. $44.6 million), exceeding its pre-sale estimate by over 11 times.

Sotheby’s Maison leads as the first of 10 distinguished Maisons set to open as part of LANDMARK’s recently announced “Tomorrow’s CENTRAL” transformation. This pioneering collaboration offers a tantalising glimpse into the unparalleled experiences soon to unfold across the reimagined LANDMARK.

In celebration of Sotheby’s “Giants of The Ice Age: Travel To Prehistoric Earth With The Woolly Mammoth” exhibition at LANDMARK ATRIUM, between 16 – 29 August, the first 100 visitors per day to create a Sotheby’s account will have the opportunity to win custom-designed stickers inspired by wonders of the prehistoric world. This limited-edition sticker will also serve as the entry pass for participants to unlock an exclusive interactive experience at Sotheby’s Maison.

Sotheby’s Maison
Opening hours:
Monday–Saturday | 11:00AM–7:00PM
Sunday | 11:00AM–6:00PM
Address: LANDMARK CHATER, 8 Connaught Road, Central
sothebys.com/asia

Dates for your diary:
Bodhi: Masterpieces of Monumental Buddhist Art
Exhibition: From Now – 11 September

Giants of The Ice Age: Travel To Prehistoric Earth With The Woolly Mammoth, LANDMARK ATRIUM
Exhibition: 15 – 29 August
Hashtag: #LANDMARK

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

About LANDMARK

LANDMARK represents the epitome of top-tier luxury shopping and lifestyle experiences. Drawing from a rich heritage which began in 1904 – LANDMARK today is the luxury shopping destination of Hongkong Land’s Central portfolio including 4 iconic connected buildings, LANDMARK ATRIUM, LANDMARK ALEXANDRA, LANDMARK CHATER and LANDMARK PRINCE’S. LANDMARK offers approximately 208 of the finest stores and restaurants, all seamlessly linked by pedestrian bridges. From high fashion and accessories to watches and jewellery, from luxury living to beauty and grooming, from international cuisine to authentic gourmet dining, LANDMARK brings the ultimate shopping experience to the discerning customer.

About SOTHEBY’S

Established in 1744, Sotheby’s is the world’s premier destination for art and luxury. Sotheby’s promotes access to and ownership of exceptional art and luxury objects through auctions and buy-now channels including private sales, e-commerce and retail. Our trusted global marketplace is supported by an industry-leading technology platform and a network of specialists spanning 40 countries and 70 categories which include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewellery, Watches, Wine and Spirits, and Design, as well as collectible cars and real estate. Sotheby’s believes in the transformative power of art and culture and is committed to making our industries more inclusive, sustainable and collaborative.

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* Estimates do not include buyer’s premium. Prices achieved include the hammer price plus buyer’s premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.

Attention: Copyright in this image shall remain vested in Sotheby’s. Please note that this image may depict subject matter which is itself protected by separate copyright. Sotheby’s makes no representations as to whether the underlying subject matter is subject to its own copyright, or as to who might hold such copyright. It is the borrower’s responsibility to obtain any relevant permissions from the holder(s) of any applicable copyright and Sotheby’s supplies this image expressly subject to this responsibility. Note that the image is provided for a one-time use only and no permission is granted to alter this image in any way.

Laos Marks 74th Mass Media Day with Focus on Digital Media Challenges, AI Integration

By
Phontham Visapra
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Laos Marks 74th Mass Media Day with Focus on Digital Media Challenges, AI Integration
This image is used only for representational purpose (photo credit: Singkham Yengtavanh)

On 13 August, Laos celebrated the 74th Anniversary of Mass Media and Publishing Day with a series of discussions aimed at examining the evolving role of media in the country. The events, which included meetings and seminars, addressed key issues such as combating fake news, the impact of social media, and the leveraging of artificial intelligence in the modern newsroom.

Continue

OP-ED: Do It Right! How ‘Itaipu’ Can Inspire Shared Prosperity in the Mekong

By
Laotian Times
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Comitiva da Ásia conhece experiência de Itaipu na gestão compartilhada da água. Binacional recebeu nesta segunda-feira (29 de julho) a visita da Comissão do Rio Mekong, que corta seis países do Sudeste Asiático e é um dos maiores em extensão do mundo.

By Anoulak Kittikhoun, Chief Executive Officer of the Mekong River Commission Secretariat

The Mighty Mekong River links 70 million people and six countries – China, Myanmar, Laos, Thailand, Cambodia, and Vietnam – in shared destiny. Anything each of us does affects the others – for better or worse. Yet, countries have and are continuing to develop national projects on the transboundary river – from hydropower and irrigation to flood control and navigation – affecting one another for better and worse. Understandably this is to meet their national interests and needs. But it is also putting the environment and people out of balance. Without enough information and consultation on some major national undertakings, misperception spreads, trust is eroded, and ill feelings and water tensions loom.

We must ask ourselves: how can we do better? What bold thinking and new steps must we take to ensure the Mekong remains productive, sustainable and peaceful? How can we build on the relatively robust cooperation treaty that is the Mekong Agreement and successful institutional framework of the Mekong River Commission of nearly 30 years, and uplift Mekong cooperation to the next level?

The answer lies in how we approach collaboration and then how we turn what may seem complicated and almost impossible undertaking possible.

Imagine a project where two nations, regardless of their size, come together as equals – investing jointly, sharing both the challenges and the rewards. A project where engineers, managers, and supervisors from different cultures and languages collaborate daily, united by a common purpose. A project that not only powers homes and industries but also safeguards the interests of downstream neighbors. And a project that prioritizes the well-being of impacted communities through royalties and perhaps the most comprehensive and long-term social and livelihood programs ever implemented by a dam. 

This is Itaipu – a remarkable joint venture between Brazil and Paraguay. In the heart of South America, it stands as a model of the highest level of transboundary river cooperation and shared prosperity. Rising at 196 meters high and stretching 7,919 meters long, the project boasts an installed capacity of 14,000 Megawatts. It is the third-largest hydropower project in the world, providing 10% of the electricity consumed in Brazil and 90% in Paraguay, a country with a population size similar to Laos.

Yet the huge size and capacity of the project are not the most impressive part. Rather the joint investment and joint operation, right on the border no less, as well as the benefits received by the communities and guarantee for downstream Argentina that make it an inspiration for the visiting senior Mekong delegation consisting of the Mekong River Commission  (MRC) Joint Committee members and Secretariat early this August. 

As the Mekong countries look toward building more water infrastructure projects, whether in hydropower or other sectors, the Itaipu model offers invaluable insights into how joint investments can be realized, from negotiation on border issues, consulting with downstream countries, engaging and securing buy-in from communities, conducting proper feasibility studies and impact assessments, and putting in place joint management and operation. Stories like Itaipu’s, and those of other joint efforts in the Columbia River between Canada and the United States  (US), or the Senegal river between Mali, Mauritania and Senegal, indeed, are ones of transforming potential conflicts into cooperation through equitable cost and benefit sharing.

Could the Mekong countries take a page out of these books and work together to achieve a similarly high level of cooperation?

In the face of climate risks and environmental stress, for the first time since the 1970s, the MRC is supporting our member countries with Proactive Regional Planning. In fact, Article 2 of the Mekong Agreement long calls for joint and basin-wide development projects between countries, which is recently highlighted in our Basin Development Strategy 2021-2030. The PRP is thus a renewed effort to identify several joint investment projects and national projects of basin-wide significance that will address water, food, energy, and environmental needs in an integrated manner. The insights gained from exemplary joint projects around the world will be particularly relevant if countries would want to properly pursue such planned hydropower projects as Pak Chom-Pa Mong and Ban Kum-Salavanh across the Mekong mainstream shared between Laos and Thailand. The scale of the challenges and concerns of potential adverse impacts these projects present are huge, but so are the opportunities that the right collaborative approach and joint investment done well can offer. 

If pursued, these projects will require high-level governmental and national efforts on both Laos and Thailand, meticulous joint planning and negotiation to address shared concerns and benefits – not only for the countries directly involved but for downstream riparian nations, such as Cambodia and Vietnam. Cambodia and Vietnam themselves can also pursue joint work to ensure sustainable management of the shared Mekong Delta. The Mekong countries are luckier than most riparians sharing international rivers – we have a working cooperation treaty, water utilization procedures and technical guidelines, data, information and knowledge, friendly relations among neighbors based on the Mekong Spirit and ASEAN community, and supportive partners and friends from around the world. 

With vision and leadership, there is no reason why an Itaipu type project cannot be realized in our shared basin.  So, Mekong countries, if you’re going to embark on a project that impacts other nations and millions of people – do it right.

Vehicle Registration in Vientiane Exceeds City’s Population

By
Phonethida Sitthixay
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Vientiane Traffic Lights Improperly Installed

In Vientiane Capital, the number of registered vehicles has now surpassed the city’s population, exacerbating traffic congestion, pollution, and safety concerns. According to Amphaivanh Keopradith, Deputy Director of the Transport Department at the Ministry of Public Works and Transport (MPT), the total vehicle count across Laos reached 2,705,538 in 2023, with 43 percent of these registered in Vientiane.

The breakdown of these vehicles shows that 67 percent are two-wheeled motorcycles, 14 percent are pickup trucks, and a significant portion falls into other categories. The number of vehicles registered in Vientiane greatly exceeds the rate of population growth, leading to numerous challenges.

The high volume of vehicles has resulted in severe traffic congestion, particularly during rush hours at major intersections. Increased air and noise pollution are also significant concerns, posing serious health risks to residents. Additionally, the surge in vehicle numbers has contributed to a high rate of road accidents, with 6,806 incidents recorded nationwide in 2023, making up 17.4 percent of the total.

Despite existing laws and regulations aimed at mitigating these issues, including a road safety strategy designed to reduce road accident fatalities by 50 percent, problems persist.

To tackle these challenges, the government, under the Ministry of Public Works and Transport, is launching a Bus Rapid Transit (BRT) express bus system as part of a larger sustainable transportation initiative. This USD 99 million project, funded by the Asian Development Bank (ADB), the European Investment Bank (EIB), the Organization of the Petroleum Exporting Countries (OPEC), and the government’s budget, aims to overhaul Vientiane’s transportation infrastructure to align with international standards.

The BRT project includes the introduction of electric buses that offer convenience, comfort, cleanliness, and safety. Additionally, plans are in place to upgrade alleyways for pedestrian safety, enhance roads for bicycle use, and improve roadside parking systems. These measures are intended to alleviate congestion, reduce pollution, and enhance overall transportation efficiency in Vientiane.

United Language Centre Launches Two New English Courses to Cater Diverse Learning Needs and Preferences

By
Laotian Times
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The Path to Fluency Starts Here


SINGAPORE – Media OutReach Newswire – 15 August 2024 – United Language Centre, a leading English language school in Singapore, is proud to announce the launch of two new English courses: Essential English Regular (EER) and Essential English Premium (EEP). These new offerings mark an exciting expansion of its previous Essential English programme and are designed to cater to diverse learning needs and preferences.

United Language Centre

Transforming English Learning

The language institute’s new English courses employ advanced teaching methodologies, including digital learning tools and modern classroom facilities, which support an engaging and effective learning environment for learners. These advancements make learning more dynamic and enjoyable, leading to improved outcomes. The Essential English Premium classes cater to learners seeking an immersive experience with smaller class sizes of 3 to 7 students, allowing for focused, personalised interaction. Conversely, the Essential English Regular option offers a well-rounded learning experience with class sizes of 5 to 10 students, striking a balance between quality and affordability.

Early adopters of Essential English Premium have reported notable improvements in their speaking fluency and confidence. At the same time, Essential English Regular students have highlighted the English speaking course’s engaging content and supportive atmosphere, as well as significant progress in their language skills.

“Our mission is to inspire confidence and build a supportive language community. With the introduction of Essential English Premium and Essential English Regular, we’re addressing the growing demand for both personalised and cost-effective English learning solutions,” stated Matthew Fast, Founder at United Language Centre. “These new courses are designed not only to enhance English proficiency but also to cultivate a welcoming environment where students can build lasting connections.”

Key Features of Essential English Regular and Essential English Premium

  • Expert Instructors: Teachers are carefully selected and trained in the United Language Centre teaching methodology, ensuring a consistent and high-quality English education across both new courses.
  • Community Engagement: The institute fosters a supportive environment by organising regular community events and activities. These help students feel at ease and build meaningful connections within one of Singapore’s largest language communities.
  • In-House Curriculum: Combining renowned textbooks with its in-house curriculum, United Language Centre focuses on equipping students with practical communication skills to prepare them for real-world English usage.
  • Flexible Scheduling: United Language Centre offers flexible scheduling options, including a 12-hour cancellation policy, to accommodate students’ busy lives.
  • Integrated Online Lessons: Both courses include online lessons, providing additional practice and support accessible whenever and wherever.


A Response to Student Needs
The development of EEP and EER reflects the institute’s commitment to meeting student needs for personalised attention and affordable English learning options. Inspired by student feedback and market trends, these English courses aim to provide a unique learning experience that aligns with the institute’s vision of creating a global language-learning community.

Enrollment Now Open
As of 1st July 2024, students were able to enrol in the courses through the institute’s website, social media platforms, email, and phone. To celebrate the launch, United Language Centre will host a series of special promotions, including an Open House in September and anniversary events in October.

Hashtag: #englishlanguageschoolsingapore #englishspeakingcoursesingapore #speakingenglishintermediatelevelsingapore

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

About United Language Centre

United Language Centre is dedicated to inspiring confidence in language learners through a friendly and supportive environment. With a mission to be the world’s most effective language learning brand, the institute combines expert teaching, community engagement, and advanced technology to offer one-of-a-kind educational experiences.

to learn more about their English courses and programmes.

Prudential Partners with Google Cloud to Build the Future of Insurance with AI

By
Laotian Times
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Partnership will empower Prudential’s 15,000 employees to use AI to better serve its customers, with end-to-end support from Google Cloud

New ‘AI Lab’ will initially focus on use cases that deliver better healthcare experiences and operational excellence

HONG KONG SAR – Media OutReach Newswire – 15 August 2024 – Prudential plc (Prudential) and Google Cloud today announced an expanded strategic partnership to build innovative AI-powered products and applications that will help enhance customer, agent and employee experiences. Google Cloud will support Prudential’s new AI Lab – the first partnership of its kind for the insurance industry in Asia and Africa – which will focus on solving business and customer challenges.

Launching later this year, the AI Lab is designed to accelerate Prudential’s adoption of machine learning, AI and generative AI (gen AI), while also driving progress towards Prudential’s strategic priorities of:

  • Delivering a better customer experience;
  • Driving technology-powered distribution; and
  • Improving access to affordable, quality healthcare

The Lab will provide Prudential’s 15,000 employees with a new sandbox environment and step-by-step process for turning their ideas into scalable AI products and applications. This includes access to leading large language models, advanced and secure gen AI and data analytics solutions, and end-to-end Cloud provision. The partnership presents an opportunity to shape the future of AI in life and health insurance.

Supported by Google Cloud’s deep expertise in health-focused AI, the Lab will initially prioritise ways of using AI to provide improved access to quality healthcare, while supporting agents’ ability to deliver a seamless and personalised customer experience. The Lab will also focus on using AI to improve operating processes – with the goal of delivering a better experience for customers, agents and employees alike, and driving new, bottom-line efficiencies.

Anil Wadhwani, Chief Executive Officer, Prudential plc, said: “Prudential is committed to leveraging technological innovation to create value for all our stakeholders. We are actively using data, advanced analytics and AI to create an exceptional customer and agent experience – while helping us work smarter and faster. Our expanded partnership with Google Cloud will unlock the innovation and creativity of our 15,000 employees and increase our speed to market, particularly in health insurance, where we see tremendous growth opportunities. By deepening our collaboration, we will build the future of insurance for our customers.”

Thomas Kurian, CEO, Google Cloud, said: “Generative AI represents a significant opportunity to drive innovation in the insurance industry. Our collaboration with Prudential and the launch of its AI Lab will help to reimagine customer experiences, optimise operations, and unlock new growth possibilities. Google Cloud is committed to providing the AI and data analytics capabilities, as well as the expertise needed to support Prudential’s vision for the future of insurance.”

Based in Singapore, the AI Lab will also partner with institutes of higher learning, research centres, promising start-ups and AI experts. This launch deepens the working relationship between Prudential and Google Cloud that was established in 2019. With the aim of driving better insurance, health, and financial outcomes across Asia and Africa, both organisations have been collaborating on digital transformation initiatives that have the potential to benefit millions globally.

Hashtag: #Prudential

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

About Prudential plc

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

About Google Cloud

Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

From Malaysia to Hong Kong’s Financial Hub: CUHK Graduate Abigail Yap Blazes Trail in Actuarial Excellence

By
Laotian Times
-

HONG KONG SAR – Media OutReach Newswire – 15 August 2024 – The Chinese University of Hong Kong (CUHK) proudly celebrates the remarkable achievements of Abigail Yap, a recent graduate from Malaysia who has exemplified academic excellence and professional promise in the field of Insurance, Financial and Actuarial Analysis.

From Malaysia to Hong Kong CUHK - Graduate Abigail Yap
From Malaysia to Hong Kong CUHK – Graduate Abigail Yap

Abigail, who graduated in the Class of 2023, chose CUHK for its esteemed reputation and the vibrant financial landscape of Hong Kong. “Hong Kong presented an alluring prospect, particularly for those with an interest in the financial sector,” Abigail explained. Her decision was further solidified by CUHK’s welcoming community and the university admission scholarship she received.

Outstanding Achievements: A Record of Excellence

Abigail chose to study the Insurance, Financial and Actuarial Analysis (IFAAB) programme because it aims to equip students with a unique combination of technical skills, insurance expertise, financial acumen, and essential soft skills – a veritable arsenal to excel in whichever career path one may choose. During her time at CUHK, Abigail distinguished herself through numerous achievements:

– Finalist in the City Innovation and Technology (I&T) Grand Challenge

– 1st Runner Up in the International Student Summit 2021

– Top 10 Finalist in the Venture Capital on Campus (VCOC) Case Competition 2020

– 2nd Runner Up in the Melco and Amazon Web Services Student Challenge Case Competition

Abigail’s academic journey was complemented by four internships, including positions at Sun Life Malaysia, Allianz Life Malaysia, AIA Group Hong Kong, and FWD Group. These experiences provided her with invaluable industry exposure and practical skills.

Future Aspirations: Building on CUHK’s Foundation

Reflecting on her time at CUHK, Abigail praised the dedication of her professors in the IFAAB programme. “The professors consistently exhibited an unwavering commitment to student support, graciously offering guidance, clarification, and encouragement whenever needed,” she noted, emphasizing the high-quality curriculum designed to help students progress in their actuarial careers.

Looking ahead, Abigail plans to leverage her CUHK education to advance her career in Hong Kong’s dynamic financial sector before exploring opportunities globally. She remains connected to the university community, planning to participate in the Oxfam Trailwalker 2024 with fellow CUHK alumni.

“Ultimately, the seamless integration of CUHK’s world-class academic offerings and Hong Kong’s status as a global economic powerhouse create a synergistic ecosystem primed to catapult Malaysian students towards their aspirations,” she concluded.

Abigail’s journey underscores CUHK’s commitment to nurturing global talent and providing a springboard for international students to launch successful careers in Asia’s world city and beyond.

Hashtag: #CUHK

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

About The Chinese University of Hong Kong (CUHK)

The Chinese University of Hong Kong is a leading research university in Asia. Established in 1963, CUHK is committed to nurturing talent and expanding the frontiers of knowledge to foster a better world. It offers a wide range of undergraduate and postgraduate programs through its nine constituent colleges and schools. CUHK has a strong emphasis on global engagement, with partnerships and exchange programs with top universities worldwide.

AsiaInfo Technologies expects to achieve a performance rebound in 2H 2024, full year profit exceeding last year

By
Laotian Times
-

Actively consider maintaining the amount of final dividend per share at a relatively stable level as compared to the previous year


HONG KONG SAR – Media OutReach Newswire – 15 August 2024 – AsiaInfo Technologies Limited (“AsiaInfo Technologies” or the “Company”, which together with its subsidiaries, is referred to as the “Group”; HKEX stock code: 01675), is pleased to announce its interim results for the six months ended 30 June 2024 (the “Period”).

In the first half of 2024, the Company faced serious challenges, the external business environment continued to show complexity and uncertainty, and the investment budgets of corporate customers across industries generally showed a tightening trend. In particular, the slowdown in the growth rate of the telecommunications industry, investment cycle staying at trough and the sudden increase in the effort on cost reduction by telecom operators resulted in marked pressure on the Company’s order prices, increased difficulty in business negotiation, and significant delays of orders, which created a relatively considerable impact on the Company’s BSS and other traditional businesses, leading to significant pressure on the interim results. The operating revenue amounted to RMB2,994 million, representing a year-on-year decrease of 8.8%, of which the revenue from BSS and other traditional businesses amounted to RMB1,794 million, representing a year-on-year decrease of 18.1%. The Three New Business[1] maintained a double-digit growth, with revenue amounted to RMB1,200 million, representing a year-on-year increase of 10.0%. As a result of a relatively large decline in operating revenue, there was a net loss of RMB70 million during the Period.

In terms of new business, the Company attached greater importance to the high-quality development of the business and strengthened risk control in the process, resulting in a slower pace of business development and revenue growth. Similarly, due to various factors such as slowdown of the growth in the telecommunications industry, being in the trough of the industry investment cycle and steep increase in cost compression by telecom operators, revenue from the OSS business experienced a slight year-on-year decline of 1.6% to RMB280 million in the first half of the year. Revenue from the digital intelligence-driven operation business steadily improved and registered revenue of RMB447 million, representing a slight year-on-year decrease of 1.9%. Meanwhile, the Company continued to progress in the vertical industries digitialisation market and enhanced the expansion efforts in key areas such as energy, transportation and government affairs, maintaining a relatively fast growth and achieving a year-on-year increase of 34.6% in revenue to RMB473 million.

The Board attaches great importance to shareholders’ interests and return and guided the final dividend payout ratio for 2024 to maintain at 40% of the profit for the year attributable to the equity holders of the Company, while actively consider maintaining the amount of the final dividend per share at a relatively stable level as compared to that of last year.

It is expected that the Company will achieve a performance rebound in the second half of the year, with full effort to achieve better full year profit than last year. The Company will accelerate the process of business negotiation of BSS orders to mitigate the impact of order prices pressure and signing delays. At the same time, the Company will seize technological upgrade opportunities brought by “AI+” and “LLM+”, etc., actively participate in joint R&D with customers, and ensure the leading position of the BSS business in the telecommunications industry. It is expected that the rate of decline in BSS business revenue will be notably narrowed for the full year.

In terms of the Three New Business, the full year revenue is expected to maintain decent growth. The Company will accelerate the promotion and replication of digital intelligence-driven operation business, expand the scale of result-based and commission-based models, and strengthen collaboration with telecom operators in government and corporate business, and international business expansion to strive for a larger share of these cooperation opportunities and expand revenue scale. Additionally, the Company will continue to deepen its efforts in key industries such as energy, transportation, and government affairs, achieving continuous high-quality growth in non-telecommunications market businesses. While promoting revenue trend improvement, the Company will further step up cost control efforts in the second half of the year by rigorously controlling staff scale, strengthening process management of labour costs linked to performance, and reasonably allocate resources. The Company will expand centralised procurement and one-stop business expense platforms to effectively control daily costs and expenditures, striving to achieve full year profit exceeding that of last year.

The Company considers that telecommunications industry remains a high-quality industry. As long as we continue to build on our technological leadership, seize new technology upgrade opportunities brought by “AI+” and “LLM+”, and actively participate in joint R&D with telecom operators, we can maintain our leading position in the traditional business and seize the high-quality development on the Three New Business, seeking growth through challenges. Meanwhile, the Company will actively apply new technologies like AI to improve the automatisation level of R&D and delivery process, enhance production efficiency, reduce costs, and boost efficiency. The Company believes after a short- hit on results, the fundamentals for the Company’s long-term development remain solid, and its revenue and profit will maintain a stable and healthy momentum.

[1] Three New business represents the digital intelligence-driven operation, the vertical industries digitisation, and the Operation Support Systems (“OSS”) business.

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