This strategic sale will enhance Jebsen & Jessen’s geographic expansion, strengthen its distribution capabilities and networks while securing MSM’s long term growth and future development in Mongolia.

ULAANBAATAR, MONGOLIA/SINGAPORE – Media OutReach Newswire – 2 September 2024 – Diversified Industrial, Automotive, Chemical, Agricultural and Beverage Conglomerate, MSM Group today announces the sale of a majority stake to Jebsen & Jessen Group thereby securing a continuously growing future for the company and its employees.

As one of the leading conglomerates in Mongolia, MSM Group spans multiple sectors and since 1998, has been playing a pivotal role in introducing premium international brands to the Mongolian market; it remains the sole distributor and partner for more than 50 of these brands in the country today. With over 650 employees, MSM Group operates showrooms, workshops, warehousing facilities and sales outlets in the central area of the capital city Ulaanbaatar, as well as South Gobi and other areas of Mongolia.

Founders and primary shareholders Laurenz Melchers and David Reiner, along with their equity partner Mongolian Opportunities Fund, are excited with this announcement.

This acquisition brings together the technological know-how and strength of two family businesses serving complementary markets. Both groups are no stranger to each other, sharing not only historical family business connections, but also distribution agreements with MSM having served as a distributor of Jebsen & Jessen Group’s industrial products in Mongolia for over a decade.

Securing a strong future for MSM and its employees

For nearly 30 years, the Founders built a future for MSM by funding its expansion with continuous re-investments into the fast-paced growth opportunities of Mongolia. They are thankful to the loyal partners who, for many years, entrusted MSM with the promotion of their cherished brands and express their full gratitude and continuous commitment towards Mongolia, their clients, the business and, especially, its employees.

As such, in preparation for this day, the Founders ensured that an exceptional management team was set-up and given the opportunity to independently run the day-to-day management of the business with great success.

In order to guarantee that MSM continued to thrive for many decades to come, they made the difficult decision to search for a family business with shared values and long-term history but also the capital strength and international presence, to take over the reins at MSM.

It has taken some time to find the right partner and it is therefore a sad and a happy moment for the two Founders to make this announcement but they are comfortable with the notion that MSM’s future is in good hands; especially since they will remain as shareholders in MSM and will also be growing their other business interests in Ulaanbaatar, thus staying loyal to Mongolia for many years to come.

“Having known Heinrich Jessen, Chairman of Jebsen & Jessen for many years, both in a professional and personal capacity, both David and I are assured that this is the right step and the perfect group to entrust the future of our beloved MSM and its employees for the many years to come” said Laurenz Melchers Chairman of MSM Group.

In addition, both MSM Founders and Jebsen & Jessen Group want to welcome Mark Gabel to the new shareholding structure of MSM; Mark will remain CEO of MSM and they know he will take full advantage of all the synergies and opportunities that the Jebsen & Jessen Group can provide to continue to successfully grow MSM for the years ahead.

The transaction took effect after approval by the Mongolian authorities. LCA Solutions, a Hong Kong regulated Multi Family Office, acted as financial advisor to the Founders of MSM. WS Chong & Co in Hong Kong, Mishcon de Reya in London and Melville Erdenedalai in Ulaanbaatar acted as legal advisors for the different Founders while Herbert Smith Freehills in Hong Kong acted for Mongolian Opportunities Fund.

Expanding market reach, capabilities and synergies for growth

With this announcement, Jebsen & Jessen Group takes a market leading position in the fast-growing market of Mongolia and another step in its continuous expansion beyond its established market strongholds in South East Asia.

“We are delighted to be welcoming MSM Group as part of the Jebsen & Jessen family. The acquisition is a strategic move that aligns with the goal of expanding our global footprint, and enhancing our industrial and distribution capabilities,” said Jebsen & Jessen Group CEO Per Magnusson. “MSM Group’s leading market position in Mongolia, its strong management team and workforce, and its diverse businesses will be a valuable addition to our portfolio. We will benefit from the synergies that we can now leverage across these activities.”

For MSM Group, this acquisition facilitates access to the extensive resources and expertise of Jebsen & Jessen Group, offering new avenues for growth and development. MSM Group will become the seventh business unit within Jebsen & Jessen Group. MSM Group will continue to operate under its current company name and leadership, and maintain its commercial presence with all operations and business proceeding as usual.

“MSM Group has enjoyed strong growth over several decades to become the market leading company it is today. Joining Jebsen & Jessen Group provides us with the potential to scale our operations to levels we have never achieved before. These are exciting times for our teams and the brands we represent,” said MSM Group CEO Mark Gabel.

Hashtag: #MSMGroup

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

About Jebsen & Jessen Group

Part of a global family enterprise that dates back to a trading partnership formed in Hong Kong in 1895, Jebsen & Jessen Group headquartered in Singapore is today an industrial conglomerate with a diverse network of businesses spanning manufacturing, engineering, mining and distribution activities. Core businesses include cable technology, garnet, ingredients, life sciences, packaging and other industrial technology, across more than 15 countries in five continents. Over 4,000 colleagues work as one to develop meaningful products and services for the myriad customers served.

For more information, visit www.jjsea.com

About MSM Group

Founded in 1998, MSM Group is today, with over 650 highly professional Mongolian and foreign employees, a leader in the automotive, industrial and beverage distribution sectors. MSM/SGT is also a strategic business partner of Oyu Tolgoi, the world’s third largest copper and gold mine that is operated by Rio Tinto. MSM Group delivers premium quality consumer and industrial products and services to a wide network of customers and partners. In addition, MSM Group supports social projects and programmes in many areas such as health, environment, sustainability, arts and children’s education as part of the company’s corporate social responsibility.

For more information, visit www.msmgroup.mn.

Workers stated that in the restoration work of the Jinshanling Great Wall, they adhered to the principle of “minimal intervention and restoration to its original state”, retaining old bricks that can still be used and replacing weathered face bricks with them. Additionally, they installed drainage systems to reduce the erosion of rainwater on the walls.

It is reported that this is the first time in China that drones have been used to participate in the protection of the Great Wall, which is not only fast and economical but also environmentally friendly. This drone technology will be better applied in the future protection and restoration of the Great Wall.

Jinshanling Great Wall is renowned for its unique landscape and exquisite architectural art, earning the reputation of “Jinshanling Be There, The Rest of Great Wall Nowhere”. The 10.5-kilometer Jinshanling Great Wall encompasses virtually all architectural forms of the Ming Dynasty Great Wall, making it the essence of the Great Wall and the best-preserved section of the Ming Dynasty Great Wall. Today, despite the ravages of time, it remains magnificent and breathtaking.
Hashtag: #Jinshanling

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Eddie Chau, with over three decades of notable achievements in entrepreneurship, technology, and community leadership, brings a wealth of expertise to Vizzio. As Chairman of the Singapore Standard Council’s Coordinating Committee for Cyber Security, Chau has played a pivotal role in shaping Singapore’s cybersecurity landscape.

Chau’s impressive career includes founding six startups, successfully exiting two, and serving as a mentor to numerous startups in Singapore. His commitment to community service is evident through his involvement with various non-profit organisations, including Mount Alvernia Hospital, raiSE, and One Faber Group.

Recognised as the “IT Leader of the Year 2018” by the Singapore Computer Society and inducted into its “Hall of Fame 2022,” Eddie Chau’s accolades highlight his exceptional leadership in technology.

At Vizzio Technologies, Eddie Chau’s strategic insights and extensive network will be instrumental as the company continues to drive innovation and growth in the technology sector. His experience with successful ventures such as e-Cop, Brandtology, and V-Key underscores his ability to identify and capitalise on emerging opportunities.

We extend a warm welcome to Eddie Chau and look forward to achieving new milestones with his expertise guiding our future endeavours.
Hashtag: #VizzioTechnologies #AITechnology

https://vizzio.ai/
https://www.linkedin.com/company/vizziotech/

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

Vizzio Technologies

Vizzio Technologies leads the world in creating detailed 3D city models using satellite imagery and AI. We produce immersive digital twins of cities globally, integrating multi-resolution data and machine learning for real-time insights and modelling. Established in 2020, we have mapped over 1 million square kilometres of urban space, filed 34 patents, and saved 75% of time compared to traditional methods. Our goal is to deliver dimensionally accurate, photorealistic digital twins for every city on Earth, supporting a range of applications from urban planning to security.

The Osteoporosis Society of Hong Kong (OSHK) Launches Groundbreaking Clinical Guidelines to Combat Growing Public Health Burden

HONG KONG SAR – Media OutReach Newswire – 1 September 2024 –

Alarming Burden of Fragility Fractures in Hong Kong
The burden of osteoporosis in Hong Kong has reached alarming levels, with a staggering 51.2% surge in fragility fractures over the past 14 years. The number of cases has skyrocketed from 5,596 in 2004 to 8,465 in 2018. Even more concerning is the 30.9% rise in the most serious type of fracture – hip fractures – which have increased from 4,002 to 5,241 cases during this period.

These fragility fractures, which occur due to low bone density and strength, can have devastating consequences for patients. Alarmingly, recent research has found that the mortality rate of hip fractures rivals that of leading cancer killers in Hong Kong. A study from the University of Hong Kong revealed that the mortality rate of hip fractures in men is higher than the mortality rate for prostate cancer, and on par with the mortality rate for colorectal cancer. Similarly, the mortality rate of hip fracture patients in women is higher than the mortality rate for thyroid cancer and breast cancer.

Compounding the problem, fragility fracture patients face a high risk of subsequent fractures, with nearly half (49.5%) of those who sustain an initial fracture experiencing a second fracture within the first two years. This “imminent fracture” period leaves patients vulnerable to repeat, debilitating injuries in quick succession.

“The dramatic escalation in fragility fractures underscores the urgent imperative to address osteoporosis and improve overall bone health in our community,” said Professor Cheung Ching-lung, President of The Osteoporosis Society of Hong Kong (OSHK). “In response, the OSHK’s multi-disciplinary task force has issued landmark clinical guidelines that revolutionize the approach to osteoporosis management in the city. This new, evidence-based framework aims to help identify and effectively manage individuals at different level of risk of these often devastating, and sometimes deadly, fractures, empowering both medical professionals and the public to take proactive steps in tackling this major public health crisis.”

OSHK recommends DXA Screening for Early Osteoporosis Detection in Hong Kong
OSHK is recommending that all Hong Kong men aged 70 and older, and all women aged 65 and older, undergo dual-energy X-ray absorptiometry (DXA) scans to screen for osteoporosis. DXA is considered the gold standard diagnostic tool for identifying osteoporosis. With such a protocol, an estimate of 5,234 hip fractures would be prevented in 10 years to reduce the devasting impact of fragility fractures on patients, their families, and the broader healthcare system in Hong Kong.

“DXA screening gives us the ability to identify osteoporosis early and take action to strengthen bones and prevent these life-altering fractures,” emphasized Dr Ip Tai-pang, Chairperson of The Osteoporosis Society of Hong Kong (OSHK) Guideline Task Group. “We’re calling on all Hong Kong residents in the recommended age groups to have this simple, painless test and have an open discussion with their doctors about optimizing their bone health.”

Landmark Guidelines Introduce Personalized Approach to Tackling Osteoporosis
The new OSHK guidelines go beyond recommending universal DXA screening to promote the use of a well-structured risk stratification model. This enables healthcare providers to comprehensively evaluate each patient’s individual risk of fragility fractures. By thoroughly assessing the patient’s unique risk profile and bone density T-score, clinicians can now establish a targeted treatment plan to effectively reduce their likelihood of experiencing a debilitating fragility fracture.

The OSHK guideline outlines the following risk-based approach for systematic fracture prevention:

In addition, patients undergoing treatment for osteoporosis should review their treatment plan with their doctor every 1-2 years to ensure they are receiving maximum benefit. “Osteoporosis is a condition that requires long-term management,” emphasizes Dr Ip Tai-pang. “Patients should never stop taking their medications without first consulting their doctor, as abruptly discontinuing treatment can lead to rapid and dramatic loss of bone density.”

Reframing Fragility Fractures as “Bone failure” Underscores Urgent Need for Proactive Management of Devastating Complications
The OSHK’s new clinical guidelines reflect a paradigm shift in how this progressive bone disease is viewed and managed. By recognizing fragility factures as a systemic “bone failure” condition, the guidelines emphasize the serious, wide-ranging complications that can occur, including spinal deformities, loss of mobility, reduced quality of life, as well as the increased risks of other serious health issues, such as cardiovascular diseases and pneumonia etc. that can stem from osteoporosis and related fractures.

“We need to strengthen public education, so that the public understands that fragility fractures are akin to bone failure,” reminded Professor Cheung Ching-lung. “This will encourage them to proactively undergo screening, and to work closely with their doctors based on their individual risk levels, to continuously monitor their condition and receive targeted management or treatment.”
Hashtag: #Osteoporosis #DXA #fracture #OsteoporosisSocietyHK #BoneFailure

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

About The Osteoporosis Society of Hong Kong (OSHK)

The Osteoporosis Society of Hong Kong (OSHK) is a non-profit organization dedicated to promoting bone health and preventing osteoporosis in Hong Kong. Established in 1994, the OSHK is a multi-disciplinary society comprising orthopedists, endocrinologists, rheumatologists, geriatricians, family medicine practitioners, physiotherapists, nurses, and other healthcare professionals. The OSHK works to raise awareness, provide education, and advocate for policies to address the growing burden of osteoporosis in the city.

Genesis NFT Launch Triumph
On May 23, 2024, Live4Well successfully launched its first “Genesis NFT” series, which sold out completely within the first 7 hours, achieving a 1.5x over-subscription. This success occurred despite Ethereum’s recent surge, driven by the ERG approvals that drove up the minting cost. This achievement demonstrates global recognition of the project’s vision. Within two weeks of the NFT sell-out, Live4Well announced partnerships with several major global gym chains, including Anytime, 24/7, and FIT24. These partnerships offer NFT holders free memberships at over 200 gyms worldwide. With a secondary market listing rate below 2% and average prices rising by 50%, the project’s community loyalty and investor confidence are evident.

Innovative Expansion
The Live4Well team has always excelled at innovative business strategy. They are backed by investors whose investment achieved double-digit growth during the pandemic. The team deeply understands that Web3 demands continuous exploration and optimization, requiring regular content updates to keep participants engaged in the project’s development. Now, venturing beyond fitness and expanding into global sports, Live4Well is launching the Live4Sport initiative, aiming to create a worldwide “Sport Alliance.”

This new phase of development will weave together several different sports. Plans are currently underway to launch new series NFTs, such as Live4Tennis, Live4Lacrosse, and Live4Golf, within this year. These NFTs will provide exceptional value and maintain scarcity with single-issue releases.

NFT benefits will include access to sports courses, coaching resources, competitive events, a specialized app, and personalized training goals. With world-class sports resources and advanced products, Live4Well aims to immerse users in over 20 sports, and to foster sustainable healthy lifestyles through positive feedback and community support.

Future Vision
Recognizing health as a universal consensus, Live4Well has successfully launched NFT series even during market downturns. Committed to expanding the Sport Alliance, Live4Well will continue to attract global sports enthusiasts, reintroducing blockchain through health and sports, and gradually integrating the vast sports and health economy into the crypto world.

Live4Well is pioneering a future where sweat earns rewards in a Wellness Marketplace, creating a decentralized data infrastructure that enhances the sports industry through the synergy of AI, blockchain, and sport innovation.

Hashtag: #web3 #sport #globalsportsalliance

https://www.live4well.io/
https://x.com/live4well
https://www.instagram.com/live4well.io/

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

Live4Well

Leading Wellness AI and Sports Membership Platform: Bridging Virtual and Reality Through Web3

Live4Well is building a reward-oriented infrastructure that leverages real-life fitness data globally to advance sports and health, fostering a communal economy where all stakeholders are incentivized to collaborate, enhancing and sharing in our collective success.

The expansion of its menu and physical locations highlights Flash Coffee’s commitment to delivering exceptional coffee experiences in Indonesia, one of Southeast Asia’s most promising economies with a growing appetite for quality coffee.

Flash Coffee now operates 67 stores in Indonesia and is progressing with further expansion across the market. Flash Coffee has increased its revenue per store by over 50% since early 2024 and reached operational profitability thanks to its new menu.

This impressive growth has been driven by the group’s vision and decision to focus on the Indonesian market, following the closure of Flash Coffee in other Asian markets and the successful sale and transformation into a franchise of Flash Coffee in Thailand.

“We have been excited about Indonesia and its potential since we opened our very first Flash Coffee store in Jakarta in January 2020”, said David Brunier, Founder and CEO of Flash Coffee. “Thanks to the support of our loyal customer base and our strategic refocus on Indonesia as the group’s most mature market, we are now expanding our footprint in the country, with plans to add many new stores to our portfolio within the next 12 months. We’re just getting started.”

Each new store is designed to offer a unique coffee experience, featuring Flash Coffee’s signature drinks like Seasalt Palm Sugar Latte or Whipped Strawberry Matcha, user-friendly digital ordering on its proprietary app, and its new larger store concept with welcoming sit-and-stay design encouraging customers to stay and socialise.

In addition to the continued commitment of Flash Coffee’s founders Sebastian Hannecker and David Brunier, White Star Capital has appointed Jakob Angele, Venture Partner at White Star Capital and former CEO foodpanda, who was instrumental in growing foodpanda to USD5.5 billion transaction volume, to operationally support the growth of Flash Coffee leveraging his extensive expertise in F&B and the online food delivery industry.

“We’re extremely pleased to see the recent changes and our hyper-focus on Indonesia to translate into tangible business success. I am very excited about what the future will hold for Flash Coffee,” said Jakob Angele, Executive Chairman of Flash Coffee and Venture Partner at White Star Capital. “Indonesia is one of the most exciting and vibrant coffee markets worldwide. Flash Coffee is uniquely positioned to serve its growing demand for high-quality coffee.”

For images of Flash Coffee’s Indonesia stores, menu, and exceptional barista team please click here.
Hashtag: #FlashCoffee

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

About Flash Coffee

Flash Coffee is a tech-enabled coffee chain that serves a menu of high-quality drinks curated by award-winning World Barista Champions across Asia. Customers can use the Flash Coffee app to order and pay online, choose to pick up orders from one of the brand’s iconic yellow storefronts, or order for delivery through the app or major delivery platforms.

After the company’s restructuring in 2023, Flash Coffee’s main focus is on Indonesia and franchising the brand in additional markets, following a successful franchise in Thailand. Flash Coffee is backed by White Star Capital as its largest shareholder.

Focus on AI Water, Returns to Profit

On July 19, 2024, the Company announced a major business reorganization, and will mainly focus on its core strengths in the home water solutions to elevate the Company’s overall operational trajectory. The reorganization is expected to drive healthy and sustainable long-term growth for the Company.

According to Mr. Xiaoping Chen, Founder and CEO of Viomi, the Company implemented rigorous ‘Focus’ strategy, prioritizing high-quality development and consistently enhancing the operating performance. “Specifically, we concentrated on our advantageous categories, boosting our core home water solution products’ revenue while further optimizing our product structure. As a result, our overall gross margin continued to improve to 24.8% for the first half of 2024 from 22.0% for the same period in 2023. Rigorous cost control measures led to a year-over-year decline in operating expenses by 19.2%, contributing to a turnaround in net profit with a net income of RMB5.6 million and a non-GAAP net income of RMB16.1 million. Additionally, we maintained a strong cash position, with free cash assets totaling RMB914.3 million.” commented by Mr. Chen.

AI Technology and Product Innovation，Growth Engine

Following the major business reorganization, Viomi will embrace a new mission: ‘AI for Better Water.’ dedicated to utilizing AI technology to provide better home water solutions for households worldwide. Leveraging their extensive expertise in AI technology application, intelligent hardware and software development, Viomi has strived to redefine home water solutions and developed a unique ‘Equipment + Consumables’ business model. Viomi use AI technology to holistically enhance the user experience, providing remote, real-time monitoring of water quality and usage as well as timely filter replacement reminders, one-click reordering, and DIY replacement options, leading to a higher filter replacement rate. The intelligent waterway self-cleaning technology significantly extends filter lifespan and reduces the cost of water purification, making smart water purification products a reliable, hassle-free and affordable essential for a healthy lifestyle.

Regarding product innovation, as an industry-leading technology company, Viomi has consistently driven technological breakthroughs over the past decade. The Company developed tankless large-flux water purifiers that provide fresh drinking water 24/7. By upgrading the water flux up to 2000G, expanded purified water usage scenarios from drinking to cooking, washing vegetables, and more. At its Spring Water Purifier New Product Launch in March 2024, Viomi unveiled the Viomi Kunlun Mineral AI Water Purifier. Its innovative mineralizing filter technology enables the sustained release of beneficial minerals, making the composition of these minerals in the water almost identical to that of natural mineral water, allowing users to enjoy fresh mineral water at home. Viomi offers a wide range of products covering various home scenarios, from single-function filtration to integrated functions featuring instant heating, cooling, and ice-making capabilities. Spanning kitchen, living room and whole-house applications, Viomi’s products comprehensively address the increasing global demand for cleaner, fresher and healthier drinking water.

Global water, Global Leader

In terms of product manufacturing and technology development, Viomi operates a world-leading “Water Purifier Gigafactory,” boasting an annual production capacity of 5 million water purifiers and 30 million filters. Its highly integrated industrial chain, highly automated production lines, high-standard clean production workshops, and fully traceable quality control system facilitate continuous breakthroughs in water purification, achieving optimal scale efficiency and meeting diverse global market demands. Viomi has established one of the industry’s most comprehensive R&D systems, mastering advanced filtration technology and the materials manufacturing process, and layout omni-channel marketing. As a result, the Company have amassed over 1,600 water purification patents and attracted numerous global talents in management, marketing, product development and quality control.

Looking forward, “Global Water” will become the Company’s vision. As a specialized professional water purification technology company, Viomi aims to deliver fresh and healthy water worldwide. By fully leverage the Water Purifier Gigafactory’s competitive advantages, actively expand in key overseas markets to promote Viomi’s global strategy, enabling families abroad to enjoy fresh and healthy water through Viomi home water solution products.

Hashtag: #Viomi

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