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MGI Helps Combat Covid-19 Pandemic In Laos With Innovative Container Laboratory

Container laboratory.
Container Laboratory

MGI Tech Co., Ltd. (MGI), a global life science leader and innovator, has developed Champa LSEA Laboratory, the first 3rd party detection center in Laos.

Vang Vieng Prepares for First Cabbage Festival

Cabbage Festival in Vangvieng.
Cabbage Festival in Vangvieng.

The nation’s first Cabbage Festival will be held at the end of this month in Vang Vieng.

Jaguar Land Rover Lao Reveals New Defender 90

Jaguar Land Rover Lao, the leader in premium vehicle segment revealed New Defender 90 at Vientiane Motor Show at Lao ITCC mall on 5/3/2022.

Chinese Corporate Image Development Association and National Taiwan Normal University Co-Host Taiwan CI/Corporate Image Show

TAIPEI, TAIWAN – Media OutReach – 18 March 2022 – Taiwan CI/Corporate Image Show, co-hosted by the Chinese Corporate Image Development Association (CCIDA) and the Department of Design, National Taiwan Normal University, is under way over the course of March 15-24 at No. 7, Ln. 5, Qingtian St., Da’an Dist., Taipei City.

With “Sharing Heritage, Showing Image” as its theme, the event is the first in Taiwan to offer a comprehensive overview of how eminent domestic and international businesses have introduced their respective corporate identity systems. Visitors are offered an opportunity to trace the world’s and Taiwan’s CIS history through a cornucopia of invaluable records essential to the creation of many a CIS since early the last century: corporate logos, mascots, extrapolated designs, and guidelines laid out in manuals.

In the spotlight are a number of classics in the global CIS history: the world’s first CIS, designed for Germany’s AEG, by Peter Behrens in 1908; the Olivetti logotype restyled by Walter Ballmer in 1970; the IBM logotype designed by Paul Rand in 1972. Also on display are nearly 100 domestic and international CI manuals for such momentous occasions as the 1964 Summer Olympics in Tokyo, 1972 Summer Olympics in Munich, 1998 Winter Olympics in Nagano, Expo ’70 in Osaka, 1989 World Design Expo in Nagoya, and 1990 International Garden and Greenery Exposition in Osaka.

Of particular significance to Taiwan’s CIS history are “Formosa Plastics Design Policy,” Taiwan’s first manual on CIS introduction, devised by industry pioneer Kuo Shu-hsiung in 1967; local companies’ mascot figures in the personal collection of Prof. Li Yi-hsun from the Department of Visual Design, National Kaohsiung Normal University; memorabilia dating back to the 1980s and 1990s when CETRA (now TAITRA) and the China Productivity Center made their respective efforts to promote brand-building and CIS introduction in this country; CIS-centered books from Yi Fong Tang Publisher.

#ChineseCorporateImageDevelopmentAssociation #CCIDA

China Lilang Announces 2021 Annual Results

Revenue Up 26.1% to RMB3,380 Million Net Profit at RMB468 Million Total Dividend for the Year at HK34 Cents Per Share

HONG KONG SAR – Media OutReach – 18 March 2022 – China Lilang Limited (“China Lilang” or the “Company”, together with its subsidiaries the “Group”; stock code: 1234) has today announced its 2021 annual results.

Results Highlights

  • Revenue increased by 26.1% to RMB3,380 million
  • Net profit was RMB468 million
  • Earnings per share was RMB39.09 cents
  • The Board of Directors has resolved to pay a final dividend of HK11 cents per share and a special final dividend of HK5 cents, thus maintaining a stable payout ratio throughout the year
  • The reform of the sales model and the successful implementation of the channel optimisation, product rejuvenation and internet-plus strategies; with a healthier channel inventory and a stronger foundation for brand development

Mr. Wang Dong Xing, Chairman and Executive Director of China Lilang, said,

“Amid the challenging business environment, China Lilang actively adopted flexible marketing strategies and leveraged its strong sales management and inventory control capabilities to minimise the impact of the extreme weather conditions during the year. The Group achieved a satisfactory sales performance thanks to the reform of the sales model and the successful implementation of the channel optimisation, product rejuvenation and internet-plus strategies”.

For the year ended 31 December 2021, the Group’s revenue increased by 26.1% year-on-year to RMB3,380 million. Profit from operations decreased by RMB119 million to RMB533 million, which was mainly due to inventory provision. Excluding inventory provision, profit from operations increased by RMB3.5 million. The smart casual collection was fully converted to a direct-to-retail model during the year, and the retail gross profit margin and selling expenses were higher than those of the wholesale business. Operating profit margin decreased by 8.5 percentage points to 15.8%. Excluding inventory provision, the operating profit margin was 19.4%. Net profit was RMB468 million, mainly attributable to the decision to cease development of professional sports footwear products and to clear off-season inventory including the buy-back inventory in early 2021 amounting to RMB390 million during the year, resulting in a provision of RMB122 million for product inventory. Earnings per share were RMB39.09 cents, a year-on-year decrease of 16.0%.

During the year, the Group maintained a healthy financial position with sufficient cash flows. The Board of Directors recommended payment of a final dividend of HK11 cents per share and a special final dividend of HK5 cents per share. Together with the interim dividend already paid, total dividend for the year amounted to HK34 cents, maintaining a stable payout ratio.

During the year, the Group actively reformed its sales model by introducing a consignment model for the core collection. By the end of 2021, a total of 966 stores had been converted to franchise stores, representing approximately 40% of the total number of core collection stores. Following the conversion, franchisees have real-time access to online warehouses and quick replenishment functions, which allows for more flexible product deployment and can reduce the pressure on franchisees to stock large quantities in stores. Thus, a healthy inventory level can be maintained in the long run to achieve higher store efficiency.

On the other hand, the smart casual collection stores and online stores were switched to a direct-to-retail model in 2020 and 2021, respectively. By the end of December 2021, the Group operated a total of 2,733 stores, including 290 smart casual collection direct-to-retail stores, a net increase of three stores. The operations have been running smoothly. The Group has also adopted a prudent store opening approach by strategically increasing the number of direct-to-retail stores, stores in shopping malls and outlets, as well as continuing to consolidate and develop its nationwide sales network through long-term partnerships with distributors to reach more customers across China.

The conversion of online stores to direct-to-retail stores has further enhanced the Group’s control over its online business, strengthened the complementary advantages of online and offline services and created more room for business development. To alleviate the impact of reduced foot traffic at physical stores on retail stores and distributors amid the outbreak of the Pandemic, the Group stepped up efforts to develop the e-commerce business, with a particular focus on the development of stores in the WeChat Mall, which not only allows the stores to increase their virtual product display, but also avoid the pressure of physical storage space, thereby improving the sales efficiency of each store. During the year, the Group’s retail sales through online channels increased by 20% to approximately RMB500 million, reflecting the Group’s effective use of e-commerce to clear inventory, while continuing to expand online sales.

In order to pave the way for the reform, the Group reorganised its business priorities during the year. As the Group’s previous strategic attempt to include professional sports footwear products did not provide satisfactory results and the turnover of certain products was slow, and considering that the Group’s core competitiveness lies in leather footwear and leisure sports footwear products, the Group decided to cease development of professional sports footwear products and devise a plan to clear the existing inventory at reduced prices. Consequently, a one-off provision of RMB59.2 million was made during the year. The existing inventory will be cleared through various channels as soon as possible.

Looking ahead to 2022, the external environment is complex and volatile, with the pandemic showing no signs of abating and geopolitical uncertainties. The central government’s increased support for the real economy will be conducive to the continuous escalation of consumer demand. The Group is cautiously optimistic about China’s retail market for the year.

With the reform of sales channels largely completed, the Group has more effective control over its sales channels. In addition to ensuring a healthy channel inventory and improving store efficiency, it can feasibly promote the complementary advantages of the WeChat Mall and physical stores, thus promoting product sales.

China Lilang is committed to leveraging the advantages of its existing sales channels this year, further optimising its sales network, and improving its retail management to achieve better store efficiency and higher product sell-through rates, with the aim of further promoting healthy growth from the existing foundation. In 2022, the Group aims to grow its total retail sales by no less than 10%. At the same time, the Group will cautiously plan its store network across the country. The total number of stores is expected to increase by 50 to 150 in 2022. The Group will continue to open stores in select shopping malls in provincial capitals and prefecture-level cities, and will continue to open stores in outlet malls as the usual channel for inventory clearance.

In addition, the Group will further develop the online sales and offline delivery model, introduce better service models, provide more convenient and considered shopping experiences to customers, and strengthen customers’ loyalty to the Lilang brand. In view of the positive response to the launch of special e-commerce products in online stores in 2021, the Group will be more proactive in launching new e-commerce products this year to attract the attention of consumers, thereby boosting online sales growth. The Group will also continue to make good use of online platforms for promotional clearance. The Group aims to achieve e-commerce sales growth of not less than 10% in 2022.

In terms of product positioning, the Group will continue to implement the strategy of “providing excellent value-for-money products” and streamline its product portfolio, with a focus on developing competitive business and casual apparel for men. The smart casual collection will further enhance the fashion and design elements of the products. The Group also plans to strengthen the expansion of new stores for smart casual collection in three provinces and cities, including Zhengzhou (Henan), Xi’an (Shaanxi), Suzhou and Wuxi (Jiangsu), where these are higher spending power cities and our brands are widely recognized by customers, as key target markets, improve operational efficiency, and strive to set a benchmark for other smart casual collection stores.

In addition to the aforementioned, to better prepare for logistics arrangements during the e-commerce peak seasons, Phase I of the new logistics centre is expected to commence operation before May 2022. The new logistics centre will be powered by an intelligent system, which is expected to facilitate the effective delivery of goods to stores and further enhance inventory management.

Chairman Wang Dong Xing concluded:

“The Group is cautious about the economic environment in the first half of 2022. The rapid changes in both the Pandemic and the economic environment have given rise to additional challenges for apparel businesses, but also facilitated industry consolidation and presented a competitive environment in favour of competent enterprises. Nevertheless, once the uncertainty of the Pandemic situation and economic environment fades away, the sustainable and healthy development of China’s economy will benefit from restored consumer confidence and a better release of retail consumption demand. In the long run, China Lilang will continue to focus on bringing stylish and cost-effective menswear to its customers. We believe that the unique design, originality and diversity of our products will enhance the competitiveness of our brand, further differentiate it from competitors and consolidate the Group’s leading position in the menswear industry, thereby enabling the sustainable and long-term growth of the business”.

About China Lilang

China Lilang is one of the leading PRC menswear enterprises. As an integrated fashion enterprise, the Group designs, sources and manufactures high-quality business and casual apparel for men and sells under the LILANZ brand across an extensive distribution network, covering 31 provinces, autonomous regions and municipalities in the PRC.

#ChinaLilang

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

Prudential extends coverage to children and youth under 18 who may be hospitalised for side effects arising from COVID-19 vaccinations

  • Complimentary PRUSafe COVIDCover includes S$100 daily hospitalisation cash allowance for up to 14 days
  • PRUSafe COVIDCover policyholders will have access to video consultations with a doctor via the Pulse app at a flat fee of S$5 per session
  • Coverage is extended till 31 December 2022 for new and existing PRUSafe COVIDCover policyholders

SINGAPORE Media OutReach – 18 March 2022 – Prudential Singapore (“Prudential”) is offering complimentary coverage to children and youth aged 5 to 17 years old[1] who may be hospitalised for side effects[2] resulting from COVID-19 vaccinations.[3]

Under the complimentary plan, PRUSafe COVIDCover, these young Singapore residents will receive a cash allowance of S$100 per day of hospitalisation[4] for up to 14 days, should they be hospitalised within 7 days of receiving each COVID-19 vaccination dosage. This includes the booster dose for individuals aged 12 and above. Currently, the national vaccination programme is open to Singapore citizens, permanent residents, and long-term pass holders aged 5 and above.

Mr Goh Theng Kiat, Chief Customer Officer, Prudential Singapore, said that it is important that the community stays protected as we continue to live with the pandemic.

“We want to support our customers and the community in keeping with the evolving COVID-19 situation and Singapore’s progress on its vaccination strategy. By extending PRUSafe COVIDCover to children and youth as well, parents can have greater peace of mind as we do our part to stay safe in this pandemic while returning to normalcy,” said Mr Goh.

Infections in Singapore remain high amidst the Omicron wave with children more likely to be infected by the Omicron variant compared to the Delta variant. The Ministry of Health shared in February 2022 that children aged 5 to 11 have the highest infection rate of COVID-19 in Singapore, followed by those aged 12 to 19.[5]

As of 14 March 2022, 25 per cent of children aged 5 to 11 remain unvaccinated.[6]

Prudential had launched PRUSafe COVIDCover on 26 January 2021 to provide support to individuals aged 18 and above who may be hospitalised for side effects arising from COVID-19 vaccinations. The plan was made available to 100,000 Singapore residents including non-Prudential customers, and has now been expanded to include children and youth.

Parents can sign up for PRUSafe COVIDCover for their children[7] aged 5 to 17 years old via Prudential’s digital health and wellness app, Pulse by Prudential (“Pulse”), from 17 March 2022 to 30 November 2022. The coverage is effective from 17 March 2022 or date of registration, whichever is later, and ends on 31 December 2022.

24/7 Video Consultations with a Doctor via the Pulse app at S$5

All policyholders of PRUSafe COVIDCover including children and youth[8] who have signed up will also have access to video consultations with a doctor via the Pulse app at a flat fee of S$5 per session. They can connect with the doctors 24/7 on a variety of health-related concerns, including COVID-related queries.[9] The fee of $5 is available for the term of the policy and does not include cost of medication and delivery.

Extension of coverage for new and existing PRUSafe COVIDCover policyholders till
31 Dec 2022

Prudential has extended coverage till 31 December 2022 for existing PRUSafe COVIDCover policyholders who signed up for the plan last year. Complimentary coverage for these policyholders would have ceased on 31 January 2022 but had been automatically extended so that those going for booster shots can continue to be covered. They had been informed of the extension of their policy in January.

PRUSafe COVIDCover was offered as an extension of Prudential’s PRUcare package, which aims to support individuals and small and medium-sized enterprises (SMEs) affected by the COVID-19 pandemic.[10]

Singapore residents who wish to sign up for PRUSafe COVIDCover can access it via Pulse. The app is available to everyone in Singapore, and users do not need to pay any subscription fee. New policyholders who sign up this year will also enjoy coverage till 31 December 2022.

For more information on PRUSafe COVIDCover, please refer to the footnotes or visit https://www.prudential.com.sg/prusafecovidcover.

How to register for PRUSafe COVIDCover

Notes to the editor:

  • For more information on the launch of PRUSafe COVIDCover, please view the launch press release here.
  • Pulse by Prudential can be downloaded from the Apple App Store (iOS users) and Android Play Store (Android users).
  • For more information on Pulse by Prudential, please visit the website here and view the launch press release here.
  • For more information on microinsurance products available on Pulse by Prudential, please click here.


[1] MOH | Child Vaccination. As at the time of this media release, all children who have crossed their 5th birthday in 2021 are eligible to book a vaccination appointment. PRUSafe COVIDCover is open to Singapore residents which include Singapore citizens, permanent residents and long-term pass holders (Long Term Visit Pass, Employment Pass, Dependent Pass, Student Pass).
[2] The side effects of COVID-19 vaccinations must be diagnosed in Singapore by a Registered Medical Practitioner and the life assured has to be hospitalised in Singapore on the recommendation of a Registered Medical Practitioner. For more information, please refer to https://www.prudential.com.sg/prusafecovidcover
[3] The COVID-19 vaccination needs to be authorised by the Singapore Health Sciences Authority or under the Special Access Route and administered on the recommendation of a Registered Medical Practitioner. The COVID-19 vaccine must be administered after the cover start date of the policy for a claim to be made. For more information, please refer to https://www.prudential.com.sg/prusafecovidcover
[4] Day of hospitalisation means a period of 24 hours of hospitalisation. For more information, please refer to https://www.prudential.com.sg/prusafecovidcover
[5] MOH | News. Speed by Mr Ong Ye Kung, Minister for Health at the Singapore Healthy Quality Service Awards 2022.
[6] Vaccination Status by Age Group (as of 14 March 2022) https://www.moh.gov.sg/covid-19/vaccination/statistics
[7] Pulse app users have to be Singapore residents aged 18 and above.
[8] Children and youth under the age of 18 must be accompanied by a parent during the consultation.
[9] The Pulse consultation is not part of the Ministry of Health’s Home Recovery Programme.
[10] For more information on the launch of PRUcare package, please click here: https://www.prudential.com.sg/about/newsroom/press-release/2020/prudential-gives-out

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 90 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$49.3 billion funds under management as at 31 December 2020. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,000 financial consultants.

#PrudentialSingapore

Vientiane’s Saysettha District to Rezone Roadside Shops and Restaurants

Hua Khua in Saysettha District

Authorities in Saysettha District of Vientiane Capital are to rezone stalls selling construction materials and roadside restaurants.

Security Experts Face Record Cyber Threats, Overwhelming Workload

Organizations seek new ways to protect their expanding attack surface, maintain stability

HONG KONG SAR – Media OutReach – 18 March 2022 – a global cybersecurity leader, warns of spiraling risk to digital infrastructure and remote workers as threat actors increase their rate of attack on organizations and individuals.

“Attackers are always working to increase their victim count and profit, whether through quantity or effectiveness of attacks,” said Tony Lee, Head of Consulting, Hong Kong and Macau, at Trend Micro. “The breadth and depth of our global threat intelligence allows us to identify shifts in how malicious actors target their victims across the world. Our latest research shows that while Trend Micro threat detections rose 42% year-on-year in 2021 to over 94 billion, they shrank in some areas as attacks became more precisely targeted.”

Ransomware attackers are shifting their focus to critical businesses and industries more likely to pay, and double extortion tactics ensure that they are able to profit. Ransomware-as-a-service offerings have opened the market to attackers with limited technical knowledge – but also given rise to more specialization, such as initial access brokers who are now an essential part of the cybercrime supply chain.

Threat actors are also getting better at exploiting human error to compromise cloud infrastructure and remote workers. Trend Micro Cloud App Security (CAS) detected and prevented 25.7 million email threats in 2021 compared to 16.7 million in 2020, with the volume of blocked phishing attempts nearly doubling over the period. Research shows home workers are often prone to take more risks than those in the office, which makes phishing a particular risk.

In the cloud, incorrectly configured systems continue to plague organizations. Services such as Amazon Elastic Block Store and Microsoft Azure’s Virtual Machine were among the services that had relatively high misconfiguration rates. Trend Micro also found that Docker REST APIs are frequently misconfigured, exposing them to attacks from groups like TeamTNT that deploy crypto-mining malware on affected systems.

Business email compromise (BEC) saw detections drop 11%. However, CAS blocked a higher percentage of advanced BEC emails, which could be detected only by comparing the writing style of the attacker with that of the intended sender. These attacks comprised 47% of all BEC attempts in 2021 versus 23% in 2020.

While 2021 was a record year for new vulnerabilities, Trend Micro research shows that 22% of the exploits sold in the cybercrime underground last year were over three years old. Patching old vulnerabilities remains an essential task alongside monitoring for new threats to prevent cyber-attacks and ensure strong security posture.

To learn more about Navigating New Frontiers: Trend Micro 2021 Annual Cybersecurity Report, please visit: https://www.trendmicro.com/vinfo/hk/security/research-and-analysis/threat-reports/roundup/navigating-new-frontiers-trend-micro-2021-annual-cybersecurity-report

About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world.

#TrendMicro

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