Jurisdictions including Hong Kong are rolling out new rules and guidance for asset managers in areas including ESG and investor protection

HONG KONG SAR – Media OutReach – 29 September 2023 – Hong Kong is among the jurisdictions globally that is introducing new rules and guidance in areas including ESG reporting and enhancing investor protection, according to a new report from KPMG. Such regulatory refinements will help to strengthen Hong Kong’s status as an asset management hub. At the same time, however, asset managers in the city will need to consider how to manage the diverging landscape as regulators globally take different approaches to dealing with common challenges and priorities.

The 13^th edition of KPMG’s annual flagship report, Managing divergence: Evolving Asset Management Regulation Report 2023, draws information from over 11,000 publications by regulators across over 30 jurisdictions, and consolidates the insights and knowledge of KPMG specialists around the world on common regulatory themes, challenges, and market opportunities in asset management regulation.

Andrew Weir, Global Head of Asset Management, KPMG, says, “Given the cross-border nature of the asset management industry, effective management of regulatory divergence is only going to become more important over time. To respond effectively to these challenges, asset managers need robust and flexible business models, with strong governance, intelligent risk management frameworks, state-of-the art technology, good oversight of service providers and appropriate distribution strategies. Firms need to manage their own costs and ensure that the costs and charges borne by investors are transparent and justifiable.”

There has been a notable increase in regulatory efforts around the world to protect retail investors. Besides traditional themes such as product governance, there is a significant focus on value for money and transparency, reflected in new fair value considerations and disclosure requirements.

In some jurisdictions, funds are required to have licensed depositary entities, which act independently from the fund management company, to better safeguard investors. Hong Kong, for example, plans to introduce a new “Type 13” regulated activity covering fund depositary services, starting in October 2024.

“Asset managers in Hong Kong should review their firm’s strategy, culture and purpose to ensure it continues to serve their customers’ best interests amid the growing global regulatory focus on customer protection and increasing access to information,” said Vivian Chui, Head of Securities and Asset Management, Hong Kong, KPMG China.

Regulators around the world continue to create new fund vehicles or amend existing products, to offer flexibility and compete for market share. China has continued to open its markets to foreign investors by expanding the scope of existing regimes. New wholly foreign-owned fund management companies were approved and given the go-ahead in 2023, which demonstrated the further opening-up of China’s asset management sector. Further to the opening of the Chinese bond markets to Qualified Foreign Institutional Investors (QFIIs), in autumn 2022, the CSRC revised provisions on settlement of domestic securities transactions by QFIIs and consulted on cross-border futures business. For managers of private funds, new rules and guidance issued in May 2023 relaxed approval and licensing requirements for wholly foreign-owned managers.

Jurisdictions are opening their markets to foreign investors. Authorities are also aiming to bolster investment from professional investors, and in infrastructure to assist economic recovery. The CSRC and the SFC continue to strengthen links between the Chinese Mainland and Hong Kong, with the expansion of Stock Connect.

Meanwhile, integrating ESG risks into the risk management process is of vital importance for all financial undertakings. The SFC supported a consultation issued by the Stock Exchange of Hong Kong on proposed climate-related reporting requirements for listed companies in Hong Kong. Additionally, the SFC plans to review how Hong Kong fund managers use ESG ratings and data providers – this will result in guidance for the industry. In addition, some cross-border collaboration on sustainable finance is evident, such as through the green finance taskforce that has been established between the Monetary Authority of Singapore (MAS) and the People’s Bank of China to facilitate greater public/private sector collaboration.

Distributed ledger technology (DLT) underpins cryptoassets but is also being put to good use in market infrastructure initiatives, including fund unit tokenization and settlement. The MAS is working with the industry in Singapore to explore the potential of DLT, and to facilitate the tokenization of financial and real economy assets. In Hong Kong, fund tokenization is not presently allowed, but the regulator is open to discussions.

Hashtag: #KPMGChina

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About KPMG China

KPMG China has offices located in 31 cities with over 15,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multidisciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.

This year’s theme ‘Go Global from the Get Go’ sets the tone for a 2-day event where current and aspiring sellers can learn more on how to scale their businesses through cross-border e-commerce

SINGAPORE – Media OutReach – 29 September 2023 – Amazon Global Selling today announced the Amazon Global Selling Summit 2023 (Southeast Asia) will be held at the cross-border e-commerce theatre at this year’s eCommerce Expo Asia, a key e-commerce industry event. Located at the Marina Bay Sands Expo & Convention Centre on 11-12 October with the theme, ‘Go Global from the Get Go’, Amazon Global Selling Summit (Southeast Asia) 2023 aims to support all aspiring, new, and experienced sellers in Singapore and across the Southeast Asia region in taking their brand global through Amazon stores in North America, Europe, and worldwide.

With nearly 20 sessions and over 10 breakout consultation groups across the 2 days on cross-border e-commerce, attendees will hear, learn, and network with subject matter experts from Amazon Global Selling as well as top Amazon Global Sellers from Singapore, US, and Australia who will share more about their experiences in their journey of selling on Amazon. There will also be breakout sessions catered to different seller stages that will provide insights on a variety of topics such as shipping and fulfillment, e-commerce store optimizations, product research and sourcing, multi-channel brand building and advertising.

Attendees to the summit can attend free learning sessions at the cross-border e-commerce theatre, have consultations at the Amazon Global Selling pavilion, and network with more than 10 cross-border e-commerce service providers with expertise in logistics, sourcing, trademarking, and cross-border returns and more. Business owners, aspiring sellers, and anyone interested in breaking into new opportunities overseas can tap into a vast network of resources that will be able to offer solutions to meet their business needs. Tens of thousands of attendees at Tech Week Singapore and the eCommerce Expo will be able to access the Amazon Global Selling pavilion.

Anand Palit, Head of Amazon Global Selling, Southeast Asia, said, ”Our theme this year is ‘Go Global from the Get Go’, because we have seen and know that there is strong appetite for businesses in Singapore, and SEA countries such as the Philippines, Thailand and Malaysia, to grow their business through cross-border e-commerce. At this year’s Summit, we aim to help businesses from these countries to discover innovative solutions and make better use of the selling and advertising tools from Amazon to continue to carve out new ways to bring their businesses to new heights.”

Demonstrating impact and showcasing seller success across the region

The upcoming Summit will feature top Amazon Global Sellers from both Singapore, the US and Australia. Through the inspiring stories of these sellers, attendees can expect to learn from their experiences and hear first-hand, how they have leveraged Amazon’s services and tools to scale their businesses globally.

“As a local home fragrance brand that started in a humble HDB flat, Amazon Global Selling has been instrumental in the transformation of our brand into a global 7-figure brand, enabling Pristine to reach customers in US, Canada and in Europe. Our hotel-inspired fragrances are well-loved by our Amazon customers, gaining more than 20,000 5-star reviews. We are excited to introduce new products on Amazon.com such as our car diffusers in Q4 this year. We hope to become an 8-figure seller by the end of 2025,” said Lincoln Thong, co-founder of Pristine, an Amazon global seller in the US, Canada, and UK.

Tailored breakout sessions to meet diversified seller needs

To address local sellers’ needs, this year’s Summit has three tracks in order to cater to the specific needs of the different types of sellers.

• Ready: For beginner sellers who are preparing to sell cross-border;
• Get Set: For intermediate sellers, who are readying the first shipment and planning the first sale;
• Go Global: for advanced sellers who are scaling, looking for sustained growth and building a global brand;

Day 1 of Summit on 11 October will focus on the know-how for cross-border selling on Amazon.com with a.m. sessions suited for sellers in the beginner stage and p.m. sessions for intermediate sellers prepping their launch. Day 2 offers more beginner-friendly a.m. sessions followed by advanced sessions in the p.m. for existing sellers aiming to better scale their business internationally and use Amazon brand tools to optimize conversion and customer retention.

At the Summit, Amazon Global Selling will also share about collaborations with local industry partners and discuss initiatives that will empower digital entrepreneurs to explore cross-border selling and brand building.

For more information and event registration, please visit: https://sell.amazon.com.sg/north-america/global-selling-summit-2023

Hashtag: #AmazonGlobalSelling

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

Amazon Global Selling

Amazon Global Selling helps businesses from anywhere in the world to launch a global business, reach Amazon customers around the world and build international brands. Through selling on Amazon online stores, sellers of different types and scale can reach millions of Amazon customers worldwide, including 200 million+ Prime customers in overseas Amazon online stores; and more than six million business and institutional buyers in the USA, Europe, and Japan.

For more information about global selling opportunities in North America, please visit: https://sell.amazon.com.sg/north-america/us

Named Best Logistics Service Provider – Sea for the Third Time

HONG KONG SAR – Media OutReach – 29 September 2023 – Kerry Logistics Network Limited (‘Kerry Logistics Network’, ‘KLN’; Stock Code 0636.HK) is proud to win the Best 3PL Provider title for the eighth consecutive time and be named the Best Logistics Service Provider – Sea for the third time at the 2023 Asian Freight, Logistics and Supply Chain Awards (‘AFLAS Awards’) held in Singapore last night. KLN has held the Best 3PL Provider title since 2016 and has previously won the Best Logistics Service Provider – Sea accolade in 2013 and 2021.

Vic Cheung, Managing Director of Kerry Logistics Network, said, “We are delighted to continue our long-running streak as the holder of the AFLAS Awards titles, which are testaments to KLN’s consistent service excellence and unswerving commitment to serving our customers, particularly under unprecedented market conditions. In an ever-changing logistics landscape, KLN’s flexibility sets us apart, while our reliability strengthens our relationships with customers, which enables us to capitalise on potential market opportunities.”

Leveraging its sea freight capabilities, KLN maintained scale and volume in the Trans-Pacific trade lane in 2022. It has also been actively pursuing new market opportunities, including launching a global less-than-container load (LCL) programme to offer weekly direct LCL services from key Asian gateways to multiple country destinations across the globe, catering to the increasing demand for smaller-volume cargoes post-pandemic.

The AFLAS Awards have been organised since 1986 by Asia Cargo News, a shipping and supply chain industry news platform for the Asian Pacific region, to commend leadership as well as consistency in service quality, innovation, customer relationship management and reliability. The winners are nominated and voted by freight and logistics industry players and customers in the Asia Pacific.
Hashtag: #KerryLogisticsNetwork

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

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

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

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

Kerry Logistics Network generated a revenue of over HK$86.6 billion in 2022. It is listed on the Hong Kong Stock Exchange as well as a constituent of the Hang Seng Corporate Sustainability Benchmark Index.

About the Asian Freight, Logistics and Supply Chain Awards

Established by the air freight, sea freight and logistics publication Asia Cargo News in 1986, the annual Asian Freight, Logistics and Supply Chain Awards recognise excellence in service providers in the freight and logistics industry. The winners were nominated and voted by readers and e-news subscribers of Asia Cargo News, making the results the opinion of service users.

HONG KONG SAR – Media OutReach – 29 September 2023 – Lever Style Corp (“Lever Style,” HKEX 1346) today announced its global certification as a B Corp. The fast-growing multi-category apparel manufacturer joins an international movement of more than 7,300 purpose-led businesses that are certified B Corporations in 92 countries, including leading apparel/footwear companies such as Patagonia, Eileen Fisher and AllBirds. Lever Style is one of only 26 companies in HK with B Corp certification.

B Corp one of the world’s strictest ESG standards, and, Lever Style is verified by non-profit B Lab to meet high standards of social and environmental performance, transparency, and accountability. Lever Style’s scores across five areas ( Governance, Workers, Community, Environment and Customers) are published transparently here at bcorporation.net

“Lever Style has a long track record of advancing the ESG agenda in the apparel industry. We were the first apparel manufacturer in China to become certified for SA8000, one of the world’s strictest responsibility standards,” said Stanley Szeto, Executive Chairman of Lever Style. “Sustainability is not new to Lever Style; we were first apparel company in the world to partner with WWF on the Low Carbon Manufacturing Program in 2009, before sustainability was even a word.”

Lever Style recognizes the significance of sustainable practices and their impact on the future of the world. Pivoting the apparel industry towards a sustainable future has been a priority for the company, keenly observing and responding to the evolving demands of the low-carbon drive. Lever Style supports more than 100 clients with organic and recycled materials, environmentally friendly manufacturing facilities, and other sustainable best practices. From reducing samples with digital prototyping, sourcing recyclable and eco-friendly materials, to implementing ethical production practices, Lever Style strives to make fashion sustainable.

B Corp certification is not only a significant milestone and recognition of Lever Style’s progressive approach; it is also important to help build trust with consumers, communities, and suppliers; attract and retain employees; and draw mission-aligned investors.

Hashtag: #LeverStyle

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

About Lever Style

Lever Style is the world’s premier apparel production platform for premium labels such as Hugo Boss, Paul Smith, and Amie Leon Dore, outdoor/activewear brands such as Arc’teryx, Vuori and J Lindeberg, and e-commerce pioneers such as Bonobos, Stitch Fix and Mizzen + Main. Our innovative, high mix-low volume solution reduces excess inventory and stockouts, and offers unparalleled product expertise. Listed on the Hong Kong Stock Exchange, our versatile approach is rooted in decades of technical expertise gained from working with many of the world’s top brands. We enable our clients to consolidate their vendor base, reduce production complexity, overheads, and management headaches.

About B Lab

About B Lab: B Lab is transforming the global economy to benefit all people, communities, and the planet. A leader in economic systems change, our global network creates standards, policies, tools, and programs for business, and we certify companies—known as B Corps—who are leading the way. To date, our community includes 380,000 workers in over 4,500 B Corps across 79 countries and 153 industries, and more than 150,000 companies manage their impact with the B Impact Assessment and the SDG Action Manager. To learn more and join the movement, visit www.bcorporation.net.