With New Award Categories Introduced: Best ESG Team & Best Safety Team To Commend Outstanding Housing Management Professionals and Teams

HONG KONG SAR – Media OutReach Newswire – 19 March 2024 – Organised by The Hong Kong Institute of Housing (“HKIH”), the HKIH Elite Awards 2024 is open for nomination by 8 March 2024. The nomination period will close at 12:00 noon, 28 June 2024.

Housing management professionals have been working hard to enhance harmonious, well-managed living and working environments for all citizens over the years. Their contribution and outstanding performance should be recognised and made known to a wider public. With social unrests and pandemic challenges, housing management professionals’ dedicated efforts were especially profound and important for the community. Thus, HKIH launched the first HKIH Elite Awards in 2020 to reward the outstanding contributions of members and industry practitioners. By bringing together leading corporate executives, professionals, and academic institutions, as well as industry leaders, the HKIH Elite Awards offers an excellent opportunity for local housing management individuals and teams to be recognised for their professionalism and achievement.

Two New Award Categories for the Third Edition of HKIH Elite Awards
In this edition of the Awards, HKIH is excited to introduce two new categories crafted to meet the demands of the modern era: 1) “Best ESG Team” Award, designed to recognize teams that excel in incorporating and executing ESG principles in their daily operations; and 2) “Best Safety Team” Award, aimed at honoring teams that effectively implement precautionary safety control measures and demonstrate superior safety management performance in their day-to-day management activities.

Ms Patricia Cheng, HKIH President, commented, “The previous editions of the HKIH Elite Awards have received unanimous acclaim from the industry, academia, and relevant government bodies. Now in its third edition, we aim to keep pace with the times by introducing two new categories focused on themes that are of paramount importance today: ESG and Safety. These additions are designed to encourage participation from more professional teams and simultaneously elevate the industry’s commitment to these critical areas.”

Ms Rosita Wong, Organising Committee Chairperson of HKIH Elite Awards 2024, said, “It is a great honor to serve as the Chairperson of the Organizing Committee for this year’s HKIH Elite Awards. In the new normal following the pandemic, housing management professionals have worked with diligence and perseverance while continuing to embrace technology to keep abreast of the latest developments. Interaction between the profession and society is of great significance. Hence, through hosting these awards, we hope to showcase the dedication and contributions of our peers to the public, promoting continual progress within the industry in this new normal.”

The Diversified Top-Class Jury Panel
The HKIH Elite Awards 2024 has invited experts with different backgrounds to join the Jury Panel. Mr Tony TSE Wai-chuen, BBS, JP will be the Head Juror. Jury members will partake and contribute to the sophisticated judging process for different award categories this year.

Key Dates

Date	Key Milestone
8 March 2024	Nominations open
28 June 2024 at 12:00 noon	Nominations close
31 July 2024	Finalists Announcement
7 and 14 September 2024	Finalists Presentation to Jury Panel
November 2024	HKIH Elite Awards 2024 Award Presentation Ceremony

*Future notice will be made if there are any changes on the above dates.

Award Categories

Category	Subcategory	Award Type
Individual Awards
Outstanding Manager	Private Housing Residential Non-residential Public Housing	Grand Award Excellent Awards Merit Awards
Outstanding Officer

Team Awards
Outstanding Team	Private Housing Residential Non-residential Public Housing	Grand Award Excellent Awards Merit Awards
Best Crisis Management Team
Best ESG Team (New in 2024)
Best Safety Team (New in 2024)
Innovative Awards
Best Innovative Idea		Grand Award Excellent Awards Merit Awards

For more details of HKIH Elite Awards 2024, please visit the HKIH website housing.org.hk or Facebook page http://www.facebook.com/HKIHprofessionals.

Hashtag: #HKIH

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

About The Hong Kong Institute of Housing

The Hong Kong Institute of Housing (“HKIH”) was incorporated in Hong Kong on 29 November 1988 under the Companies Ordinance (Cap. 32 of the Laws of Hong Kong) as a company limited by guarantee. Effective from 9 May 1997, HKIH has become a body corporate under The Hong Kong Institute of Housing Ordinance (Cap. 507, originally 34 of 1997). HKIH has been announced as one of the first batch Recognised Professional Bodies (RPBs) of PMSA since 2020.

Green WALK Hong Kong 2024 City Orienteering Competition Award Ceremony

Event Advocates Low-Carbon Living and Sustainable Development
Encourages Public to Travel by Foot Instead of Car

HONG KONG SAR – Media OutReach Newswire – 19 March 2024 – The “Green WALK Hong Kong 2024” campaign organised by World Green Organisation (“WGO”) has returned, this year with the full support of MTR Corporation. With the theme of “Promote Walkable City and Combat Climate Change”, it encourages the public to travel by foot instead of car to practice a low-carbon lifestyle. Green WALK Hong Kong 2024 Competition Award Ceremony was held at Central Harbourfront Event Space on 16^th March, raising public awareness about climate change and promoting sustainable urban development in a joyful atmosphere.

Dr. William Yu, Founder & Chief Executive Officer of the World Green Organisation, noted in his welcoming speech, “Global climate change, energy shortage, and environmental pollution have become pressing issues that we must collectively address. Therefore, energy conservation and carbon reduction have become an urgent and significant topic in today’s society, and each of us has a responsibility to contribute to environmental protection. According to the latest walking habits survey conducted by the World Green Organisation, the number of citizens who walk for 30 minutes or more every day has reached 10%. Although the number of active walkers is still a minority, it indicates a growing awareness among Hong Kong citizens regarding their travel habits and a preference for walking as an environmentally friendly mode of transportation. I am delighted to collaborate and work closely with MTR Corporation in organising Green WALK Hong Kong 2024 City Orienteering Competition. MTR Corporation is dedicated to providing low-carbon modes of public transportation, building sustainable communities, actively incorporating green elements in its operations and leveraging its stations and properties to encourage a green lifestyle. On the occasion of the Corporation’s 45th anniversary this year, Green T Baby will lend its support to promote the event to show commitment to walking the green journey together with the community. We hope to work together to encourage citizens to change their daily travel patterns, address climate change, and achieve carbon neutrality goals.”

Dr Chui Ho-kwong, Samuel, JP, Deputy Director of Environmental Protection, Government of the HKSAR, noted, “The world is currently facing significant environmental issues and challenges, and Hong Kong cannot ignore this reality. The Environmental Protection Department is committed to formulating various carbon reduction strategies and action plans in response to the challenges posed by climate change. It strives to achieve carbon neutrality by 2050. At the same time, the department actively encourages citizens to cultivate environmentally friendly habits and practice waste reduction, promoting a green lifestyle that embodies sustainable development. I am delighted to see everyone enthusiastically participating in Green WALK Hong Kong 2024 City Orienteering Competition, showing support for a low-carbon lifestyle. I hope that everyone can integrate energy-saving and carbon-reduction practices into their daily lives, working together to create a better future for the next generation.”

Mr Fong Hok Shing, Michael, JP, Dir of Civil Engineering & Dev also Comr. of Mines, Civil Engineering and Development Department, HKSAR, noted, “Civil Engineering and Development Department has been has been actively promoting green engineering and sustainable infrastructure, utilizing innovative materials and construction techniques to reduce carbon emissions and make efforts in energy conservation, environmental protection training, renewable energy, and environmental management. The Green WALK Hong Kong 2024 City Orienteering Competition not only aims to raise public awareness of low-carbon living but also allows participants to appreciate the scenic beauty of Hong Kong, thereby inspiring citizens to contribute to the protection of the city’s environment. In the future, we will further optimize the environment in the area, incorporate more green elements, enhance the landscape, and create a better living environment”

Ms Song Man Kuen, Sandy Asst Dir of the HK Observatory (Development, Research and Administration) Hong Kong Observatory, noted, “The climate crisis is imminent and the impacts of extreme weather are extremely severe. Hong Kong has been repeatedly affected by extreme weather in recent years, posing threats to both the lives of its citizens and economic losses. We hope that citizens can pay more attention to the effects of climate change and take practical actions by changing their lifestyles, including energy conservation, waste reduction, reducing carbon footprint, and choosing green transportation methods. The Hong Kong Observatory will continue its efforts to work hand in hand with the citizens in building a green environment, actively addressing and mitigating climate change, and contributing to the environment and ecology.”

Green WALK Hong Kong 2024 City Orienteering Competition Award Ceremony

World Green Organisation is dedicated to promoting the development of green cities. The Green WALK Hong Kong 2024 City Orienteering Competition has attracted about 1,500 participants. The competition is divided into Challenge Race, Corporate and Organisation, School, Team and Family categories. Participating teams are required to plan their own routes and complete the checkpoints along the Central to Wan Chai Harbourfront within the designated time limit to take on the challenge of mysterious missions to compete for the championship, aiming to encourage citizens to walk more and explore the beautiful urban landscapes while contributing to the sustainable development of the city.

Numerous guests attended this awards ceremony, showing support for green transportation. Dr Chui Ho-kwong, Samuel, JP, Deputy Director of Environmental Protection, Government of the HKSAR, and Mr Alex Cheung, Chairman of Board of Governors, World Green Organisation, together presented the certificate of appreciation to the sponsoring organisations, including MTR Corporation Limited, Architectural Intelligence (AI), Airport Authority Hong Kong, Hong Kong Housing Society, The Hongkong Electric Co., Ltd., Hong Yip Service Co. Ltd., Vegware HK, and Vizz Digital Group. Meanwhile, Ms Song Man Kuen, Sandy, Asst Dir of the HK Observatory (Development, Research and Administration), Hong Kong Observatory, and Dr William Yu, Founder & Chief Executive Officer, World Green Organisation, together presented the certificate of appreciation to sponsoring organisations, including Shun Lee Building Materials & Sanitary Wares Limited, Innomobel Limited, Kin Sang Chemical Ltd, Polar Pay Limited, Institutional Banking Group, DBS Bank (Hong Kong) Limited, FundingReach Holdings Limited, Jibpool International Ltd, Nicedrape Solar Protection System Co., Ltd, Rahmen (Asia) Limited, Vivo Contracting Ltd., EDUperience Limited, Little Scientists Education Group Limited, and Nomad Interior Design Ltd. Mr Albert Oung, Founder & President, World Green Organisation, and Mr Rico Chan, Board Member of Governors, World Green Organisation, together presented the certificate of appreciation to the partners, including Development Bureau, Yahoo Hong Kong, MediaOn Limited, and FitZ Limited.

Mr Alex Cheung, Chairman of Board of Governors, World Green Organisation, and Dr William Yu, Founder & Chief Executive Officer, World Green Organisation, together with Ms Linda Choy, Corporate Affairs & Branding Director, MTR Corporation Limited; Mr Adrian Cheung, Chief Corporate Affairs Officer, Airport Authority Hong Kong; and Mr Sunny Chan, President, Architectural Intelligence (AI), presented the championship trophies to Challenge Race and Corporate and Organisation categories. Mr Fong Hok Shing, Michael, JP, Dir of Civil Engineering & Dev also Comr. of Mines, Civil Engineering and Development Department, HKSAR, and Mr Rico Chan, Board Member of Governors, World Green Organisation, together presented the championship trophies to Corporate and Organisation category and Team and Family category, as well as presenting the certificate of appreciation to the school category with the highest student participation. Green WALK Hong Kong 2024 City Orienteering Competition has garnered public attention towards carbon reduction issues, encouraging citizens to take a few extra steps for the health of the planet and cultivate low-carbon lifestyle habits, contributing to the vision of sustainable development in Hong Kong.Hashtag: #世界綠色組織 #WorldGreenOrganisation

http://www.thewgo.org/website/chi/

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

About MTR Corporation

To Keep Cities Moving, MTR makes encounters happen and rendezvous for a more connected tomorrow. As a recognised world-class operator of sustainable rail transport services, we are a leader in safety, reliability, customer service and efficiency.

MTR has extensive end-to-end railway expertise with 45 years of railway projects experience from design to planning and construction through to commissioning, maintenance and operations. Going beyond railway delivery and operation, MTR also creates and manages dynamic communities around its network through seamless integration of rail, commercial and property development.

With more than 50,000 dedicated staff*, MTR carries over 10 million passenger journeys worldwide every weekday in Hong Kong, Mainland China, Australia, the United Kingdom and Sweden. Together, we Go Smart and Go Beyond.

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

*includes our subsidiaries, associates and joint ventures in Hong Kong and worldwide

About World Green Organisation (WGO)

The World Green Organisation (WGO) is an independent non-governmental organisation concerned with environmental conservation and environmentally related livelihood and economic affairs. It provides a holistic approach to a fully integrated three-pronged solution that combines social, environmental and economic dimensions for a paradigm shift towards low-carbon and climate-resilient development pathways. Through science-based policy research and community projects, the WGO aims to enhance the quality of the environment, promote a greener economy, and improve people’s livelihoods. In particular, it will focus on the social concerns of underprivileged groups and on the creation of a green economy, to help realise its vision of sustainable development. For more information about our organisation, please view our website: https://www.thewgo.org/

– …and puts £10,000 of whisky up for grabs for auction bidders

SINGAPORE – Media OutReach Newswire – 19 March 2024 – Specialist spirits auctioneer, Whisky Hammer, is hosting its largest online whisky auction to date, with rare and unique bottles amongst the 5,000+ lots available for sale.

Marking the company’s 100^th auction, buyers have the chance to get their hands on some truly special whiskies going under the hammer, which include a 50 Year Old Macallan (Millennium Decanter) distilled in 1949, a 40 Year Old Brora (distilled in 1972) and a 1976 Single Cask Ardbeg.

Whisky Hammer has also bottled a limited-edition whisky in celebration of the milestone – with just 100 bottles available to bid on. The 11-Year-Old blended Scotch whisky is being bottled at 100 Proof (57.1% ABV) and all bottles will be individually hand numbered, with bids starting at £30 per bottle.

Now a go-to destination for buyers and sellers of rare and collectible whisky worldwide, Whisky Hammer is known for its previous high-profile sales including the record-breaking million-pound cask of Macallan whisky which lay forgotten for more than 30 years and a 55 Year Old Yamazaki which sold for £380,000.

As a thank you to customers for their support over the last eight years, successful bidders in the 100^th auction will be entered into a prize draw to win a share of £10,000 worth of Still Spirit whisky vouchers – with 10 prizes in total and first place winning £5,000 to spend in the store. Each bottle won at auction will be the equivalent to one entry into the draw.

Daniel Milne, co-founder and managing director of Whisky Hammer and Still Spirit, said: “The response from customers looking to take part in our 100^th auction has been incredible. Our entire team have been inundated with an impressive array of stand-out whiskies, some of which are rare, unique and hard to come by.

“We’re giving successful bidders the chance to win a share of £10,000 worth of whisky in our prize draw. This is just a small token of thanks to the customers who have helped build and shape the business over the last eight years, and an opportunity for anyone looking to take part in the auction for the first time to be in with a chance to win an impressive amount of whisky!”

Whisky Hammer was started in 2016 by brothers Daniel and Craig Milne who are originally from Macduff, near Speyside, an area renowned for the production of Scotch whisky. The business hosts monthly auctions dedicated to whisky and other fine spirits, which attract buyers and sellers from every corner of the globe. So far, Whisky Hammer has sold over 155,000 lots valued over £60 million to 88 countries worldwide.

The 100^th auction will end at 3pm (GMT) on Sunday 24^th March. To register to take part in the auction, click here.

For more information on Whisky Hammer or for private sellers to submit bottles to auction, visit www.whiskyhammer.com.

Hashtag: #WhiskyHammer #WhiskyAuction

https://www.whiskyhammer.com/
https://twitter.com/whiskyhammer
https://www.facebook.com/whiskyhammer
https://www.instagram.com/whiskyhammer/

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

Whisky Hammer

Whisky Hammer is a family run whisky auction service founded by brothers and keen whisky enthusiasts Daniel and Craig Milne, who are supported by a team of passionate experts acting as trusted advisors to both buyers and sellers. Whisky Hammer hosts monthly auctions dedicated to whisky and other fine spirits, which attract more than 200,000 buyers and sellers from every corner of the globe. It has auctioned a wide range of whiskies, both bottles and casks, recently achieving the world record for the highest value cask ever sold at auction.

The superior service offered by Whisky Hammer means it is trusted by some of the world’s most prominent whisky collectors and sellers, with a 5-star TrustPilot rating. Its sister retail business, Still Spirit, comprises a whisky shop and dram bar offering over 200 rare whiskies based in Ellon, including an e-commerce site. In summer 2023, Whisky Hammer founders also launched independent bottling company, Halcyon Spirits.

Follow Whisky Hammer @whiskyhammer on Facebook and Instagram or visit www.whiskyhammer.com

Featuring 180Hz Refresh Rate, HDR10, and Super Color, G4 Series Monitors deliver an immersive gaming experience that sets gamers up for success

SINGAPORE – Media OutReach Newswire – 19 March 2024 – Agon by AOC, a leading gaming monitor and IT accessory brand, is proud to announce the launch of the G4 Series, a range of gaming monitors that delivers everything gamers need to rise above the competition. With AGON by AOC declared as the world’s number one gaming monitor brand by the IDC Quarterly Gaming Tracker report for Q3 of 2023, these G4 series monitors confidently exemplify fluid immersiveness, seamless gameplay, and stunning visual performance, setting a golden standard in gaming whilst balancing affordability with superior performance.

“We are excited that these G4 monitors are entering the market with exceptional highlight features such as Native 180Hz, HDR10, and super color,” said Kevin WU, General Manager of MMD Singapore. “These will include upgrades from previous mainstream models that aim to bring gamers unforgettable immersive experiences.”

High Resolutions with Pro Gaming Standard Refresh Rates
Highlights of the G4 series include the 27G4 and the 24G4, both offering Full HD resolution of 1920 × 1080 and an incredible Native 180Hz refresh rate, providing gamers with an ultra-smooth and blur-free gameplay at a world class level. For gamers seeking a higher resolution, the Q27G4 and Q27G4N models provide powerful visual upgrades. These monitors offer a Quad HD resolution of 2560 x 1440 and a refresh rate of 180 Hz via DisplayPort 1.4. Additionally, the Q27G4 and Q27G4N models also support a refresh rate of 144 Hz via HDMI 2.0.

High Dynamic Range and Super Color Delivers Lifelike Vibrancy
With the innovative AOC Gaming Super Color technology and HDR10 support, these G4 monitors offer a vibrant palette of colors, enhanced brightness, and superior contrast. The Q27G4 model even takes it a step further with HDR400 capability. Gamers can explore new dimensions of visual excellence and immerse themselves in the gaming world like never before, as every detail comes to life with astonishing vitality.

Gamer Essentials for Raw Competitive Gameplay
The G4 Series is designed for gamers seeking a competitive advantage. Its Fast IPS technology delivers a response time four times faster than conventional panels, providing exceptional visual quality and responsiveness with a true 1ms (GTG) response time. The Dial Point feature offers selectable custom crosshair options, enhancing accuracy and precision in FPS games. Additionally, Adaptive-Sync technology ensures tear-free performance at any framerate, resulting in a smooth gaming experience.

AOC Gaming G4 Series Flat Monitors

Model	Size	Panel Type	Resolution	Response Time	HDR	Gaming Motion Tech	HDMI/DP
Q27G4N	27″	VA	2560 × 1440 @ 180Hz	1ms (GTG)	HDR10	Adaptive Sync	√
Q27G4	27″	IPS	2560 × 1440 @ 180Hz	1ms (GTG)	HDR400	Adaptive Sync	√
27G4E	27″	TN	1920 × 1080 @ 180Hz	1ms (GTG)	HDR10	Adaptive Sync	√
27G4	27″	IPS	1920 × 1080 @ 180Hz	1ms (GTG)	HDR10	Adaptive Sync	√
24G4E	23.8″	IPS	1920 × 1080 @ 180Hz	1ms (GTG)	HDR10	Adaptive Sync	√
24G4	23.8″	IPS	1920 × 1080 @ 180Hz	1ms (GTG)	HDR10	Adaptive Sync	√

To learn more about the G4 Series, visit the AOC’s official website here: ap.aoc.com

Hashtag: #AGONbyAOC #AOC #AOCGaming #AGON

https://ap.aoc.com/index/page/route/aoc-asia-pacific.html
https://www.facebook.com/agonbyaoc

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

About AOC

Founded in 1967, AOC is a globally leading monitor and IT accessories brand and a subsidiary of TPV Technology Limited, the world’s largest LCD manufacturer. AOC’s comprehensive product portfolio provides innovative, ergonomic, environmentally conscious and stylish solutions for professional as well as personal applications.

The AGON by AOC sub-brand of offers one of the world’s strongest portfolios of high-performance gaming monitors, and a complete ecosystem of gaming accessories grouped in three categories: AOC GAMING for core gamers, AGON for competitive gamers, and AGON PRO for esports enthusiasts and professional esports players. Since 2020, AGON by AOC has been one of the leading gaming monitor brands and a top choice of gamers worldwide.

For more information, please refer to AGON by AOC’s official website or follow AGON by AOC on Facebook.

Scottsdale, Arizona – Newsfile Corp. – March 18, 2024 – Greenbriar Sustainable Living Inc. (TSXV: GRB) (OTC Pink: GEBRF) (“Greenbriar” or the “Company”) is pleased to announce that the schedule to break ground on Sage Ranch will be within the month of April, 2024. The ongoing drama between the TCCWD and the city does not affect our schedule. The company owns and has access to all of the deeded water rights, and any additional sources. The WSA was accurate and complete. The city council was correct in its approval of the WSA. The TCCWD wants to be a land planning agency, and the law does not permit this role. The city was correct in its full approval of the project. During all of the settlement negotiations with the TCCWD, and in front of eight lawyers and the company, the TCCWD emphatically stated they had no issue with Sage Ranch alone. The TCCWD stated during multiple settlement talks that their issue was what the city additionally permits after Sage Ranch. That is not the business of the TCCWD to hold permitting authority over the city. The city has lots entitled since 1898. Those lots are not being permitted and therefore was not part of the WSA’s correct analysis. The TCCWD is desperate for some technical victory on a limited re-write of the WSA so they can make a claim to retrieve their legal fees. This has no impact on the schedule of building Sage Ranch nor stopping its progress. The TCCWD uses deeded water rights of all owners who do not use those rights in any given year, and sells them on a yearly basis to ag companies who lease the land from certain TCCWD directors. The TCCWD is in a full conflict of interest. In addition, the president of the TCCWD board tried to buy a portion of the original Sage Ranch from Greenbriar in 2017. Greenbriar said no, and the current TCCWD president was denied owning a piece of Sage Ranch.

About Greenbriar Capital Corp:
Greenbriar is a leading developer of sustainable real estate and renewable energy. With long-term, high impact projects and led by a successful industry-recognized operating and development team, Greenbriar targets deep valued sustainable assets directed at accretive shareholder value.

ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer and Director
Ph: 949-903-5906

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws and United States securities laws (together, “forward-looking statements”). All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the Debenture and the use of gross proceeds. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget”, “propose” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include those described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A (a copy of which is available under the Company’s SEDAR profile at www.sedar.com). The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

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

HONG KONG SAR – Media OutReach Newswire – 19 March 2024 – Junyu Tan, North Asia Economist at Coface, said: “2023 was the year when economic activities generally normalised from the pandemic. The same went for corporate business practices regarding payment terms. As market competition and practices returned to normal, more companies took the initiative to grant payment terms.

But corporates have become more cautious and offered tighter payment terms. Coface’s 2024 China Corporate Payment Survey showed that average payment terms decreased in 2023. The use of risk management tools was also more prevalent in businesses.

Tighter payment terms led to an increased incidence of payment delays. But that does not necessarily mean a worsening of companies’ cash flow position. If payment delays are added to payment terms, the total average waiting time between purchasing a product and paying an invoice – known as days sales outstanding (DSO) – decreased from 140 days in 2022 to 136 days in 2023. That may indicate an improvement in corporates’ cash flow cycle.

Looking ahead to 2024, 53% of our respondents expected the economic outlook to improve as policy support increases, market competition eases, and inventory burdens reduce. Slowing demand in 2024 should prompt more government spending to stabilise growth.”

Payment delays¹: More delays reported, but duration shortened

62% of our respondents reported payment delays in 2023, up from 40% in 2022. But an increase in the frequency of payment delays may not necessarily equate to a deterioration in companies’ cash flow position. In 2023, payment delays shortened significantly, from 83 days in 2022 to 64 days.

The survey also showed a continuous downtrend of ultra-long payment delays (ULPDs, above 180 days) exceeding 2% of annual turnover, a threshold for high non-payment risk – 80% of such delays were never paid based on Coface’s experience. Only 33% of respondents reported such delays, the second-lowest level since 2014.

Construction continued to see the longest payment delays (84 days) as property developers remained under severe financial stress with persistent weakness in new home sales. Textile appeared to have the highest non-payment risks (ULPDs exceeding 2% of turnover) when overdue occurred. But the situation is unlikely to improve in 2024 as pent-up demand recedes and labour cost rises.

Intense competition was cited as a major reason for customers’ financial difficulties, which may be partly due to the excessive capacity in some industries. However, cost pressure did not appear to be a significant burden for Chinese companies, which was consistent with China’s relatively weak inflationary environment.

Economic expectations: Competition to moderate, but demand outlook unfavorable

Looking ahead, increased policy support may bring some confidence to corporates as 53% of our respondents remained optimistic about the economic prospects in 2024. Pharmaceuticals emerged as the most optimistic on the back of the structural demand arising from an ageing population. Automobile and construction also outperformed as policy support for electric vehicles and infrastructure investments should continue to roll out. Textile was most pessimistic as pent-up demand is likely to recede in 2024 and labour costs to rise.

Fierce competition was still regarded as the biggest risk facing corporate operations in 2024. But with many companies offering deep discounts to boost sales in 2023, competition should ease in 2024 as inventory burdens reduce. But slowdown in demand was expected to be more severe as reopening demand fades while household incomes and business profits have yet to provide new dry powder. In this regard, government may have to step up spending to stabilize overall demand.

Hashtag: #Coface

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

COFACE: FOR TRADE

With over 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance & risk management, and a recognized provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2023, Coface employed ~4,970 people and registered a turnover of €1.87 billion.

For more information, visit coface.com

BANGKOK, THAILAND – Media OutReach Newswire – 19 March 2024 – Siam Piwat – a leading real estate and retail developer and the owner and operator of world-renowned destinations – is bolstering its leadership in developing world-class destinations by further expanding its entire global ecosystem, with emphasis on quality tourists. The company is currently in negotiations with 16 leading airline partners to deliver the ultimate experience.

(Front row, 5^th from right) Mrs. Mayuree Chaipromprasith (President – Corporate Affairs and Communications, Siam Piwat Co., Ltd.) and leading airline partners.

Mrs.Mayuree Chaipromprasith, President – Corporate Affairs and Communications, Siam Piwat Co., Ltd., said, “Siam Piwat is Thailand’s No.1 developer of world-class destinations. Today, we’re joining forces with partners at home and abroad to further solidify our leadership position and put Thailand on the map as the ultimate global destination. We’re seeking strategic partners to deliver extraordinary experiences from pre-trip, during-trip, to post-trip, placing emphasis on high-spending travelers to propel the tourism industry, which is a major contributor to Thailand’s economy.”

The No.1 global destination strategy is part of the ONESIAM Experience, which showcases the collective strengths of top global destinations: Siam Paragon, Siam Center, Siam Discovery, ICONSIAM, ICS, Siam Premium Outlets Bangkok, and ONESIAM SuperApp. The key strategies are:

1. Expand Reach

1.1 Collaborate with partners catering to free individual travelers (FITs): Siam Piwat seeks to meet visitors’ travel needs from the start of their journey to the time they arrive in Thailand through strategic partnerships with 16 world-class airlines, namely Air Asia, Air Canada, Air Charter Service (Thailand), Bangkok Airways, Cathay Pacific, China Eastern Airlines, China Southern Airlines, Emirates, EVA Air, Japan Airlines, Qantas, Qatar Airways, Singapore Airlines, STARLUX Airlines, Thai Airways , VietJet Air, to explore collaborative avenues and expand benefits for passengers. Siam Piwat is also in talks with online travel agents (OTAs), telecommunication operators, as well as TagThai, the innovative tourism service platform.

1.2 Collaborate with partners serving high–net–worthindividuals (HNWIs): Siam Piwat will offer exclusive privileges for customers, such as hotels, private jet and helicopter services, Thailand Privilege Card, and Thailand Long Stay.

1.3 Collaborate with MICE operators: Siam Piwat is focusing on business travelers, particularly in relation to the burgeoning MICE market. Exclusive privileges will be offered to customers through partner MICE destination management companies.

1.4 Collaborate with travel agents: Siam Piwat will partner with operators of major tourist attractions located within its shopping centers. It will also offer special services for tour groups and a wide range of exclusive privileges through the Tourist Card, distributed to over 100 top travel agent partners worldwide.

2. Elevate Experience

2.1 In–mall privileges: Customers can avail themselves of exclusive privileges through the Tourist Card, which has over 500 participating stores as well as year-round promotions. The Tourist Card also offer privileges for traveling in Bangkok such as shuttle buses from Siam Paragon to Siam Premium Outlets Bangkok as well as City Sightseeing hop-on hop-off buses.

2.2 Out-of-mall privileges: Siam Piwat is joining hands with 8 world-class shopping centers in 8 countries to offer global privileges to members of its partner malls, namely Hong Kong Time Square, ION Orchard, Pavilion Kuala Lumpur, Parco, Plaza Indonesia, and Taipei 101, through ONESIAM SuperApp. Siam Piwat is also partnering with premier hospitals to provide exclusive experiences for international customers. Additionally, it has planned to further strengthen the Tourist Card membership, enabling cardholders to enjoy privileges and discounts at selected partners outside its shopping centers, such as Rajdamnern Stadium, hotels, logistics and much more.

Siam Piwat has also signed a Memorandum of Understanding with Hyundai Department Store in South Korea to offer exclusive privileges to both ONESIAM and Hyundai Members.

In addition, Siam Piwat has developed the Tourist Webapp, enabling visitors to register for Tourist Card with greater convenience and allowing them to enjoy the full range of benefits. Frequent visitors can also become ONESIAM Members and take full advantage of the privileges. Every purchase at participating stores including international luxury fashion brands within shopping centers will earn redeemable ONESIAM Coins.

3. Excite Market

Siam Piwat will join forces with various partners to organize iconic events that will serve as major highlights for the country and the world, such as Chinese New Year, Songkran Water Festival, Fashion Weeks, and New Year’s countdowns. It is also working with global partners to curate exclusive events and activities across its shopping centers, including Pride Month. Eco-conscious visitors can also take part in a wide range of workshops and activities at ECOTOPIA, an innovative eco-specialty store for eco-conscious visitors.

Siam Piwat is fully equipped and ready to drive the economy and tourism industry, establish Thailand as a top must-visit destination, and create unforgettable impressions and memories for Thai people and visitors from around the world.

Hashtag: #SiamPiwat #ONESIAMexperience #GlobalDestination #GlobalEcosystem

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