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Laos Celebrates 14th Field Epidemiology Training Graduating Class

Commencement ceremony for the eighth batch of graduates from the 14th Field Epidemiology Training Program (FETP). Photo supplied by the US Embassy in Laos.

The Lao Plaza Hotel hosted the commencement ceremony for the eighth batch of graduates from the 14th Field Epidemiology Training Program (FETP) on 26 April. Senior officials from the Ministry of Health, the Embassy of the United States in Laos, and the World Health Organization (WHO) attended the event, marking a significant step forward in bolstering the nation’s capacity to combat infectious diseases.

The FETP program strengthens Laos’ capacity to conduct infectious disease biosurveillance and response, enabling Laos’ health officials to detect and respond to disease outbreaks including COVID-19, Diphtheria, Pertussis, Avian influenza, and other diseases.

Since its inception in 2009, the FETP has been a collaborative effort between the US Department of Defense’s Defense Threat Reduction Agency, the US Centers for Disease Control and Prevention, the World Health Organization, and the Lao Ministry of Health’s Department of Communicable Disease Control and National Center for Laboratory and Epidemiology.

As of April 2024, 110 field staff have successfully completed this one-year training course, with 38 alumni from the national level, 53 from provincial level, and 19 from district level.

“As we saw during Laos’s response to the COVID-19 pandemic, FET graduates make a real difference in the health and safety of Laos’s citizens.  We are proud to support this program, and to contribute to the continued improvement of health services in the country,” said Michelle Y. Outlaw, Chargée d’Affaires of the US Embassy to Laos.

Phayvanh Keopaseuth, the Vice Minister of Health, echoed this sentiment, lauding the invaluable contributions of FET graduates to enhancing health security within the Lao PDR. “I offer my sincere congratulations to the FET graduates for their successful completion of the FET course,” he remarked, urging them to leverage their newfound skills to fortify health systems across the nation.

“Today marks a significant milestone for protecting communities and the nation, as we celebrate additional epidemiologists who will reinforce the country’s preparedness and response to public health emergencies,” further commented Timothy Peter Armstrong, acting WHO Representative. “We congratulate the Ministry of Health for its unwavering commitment to improving the nation’s capacity to detect and respond to disease outbreaks and to strengthening health security in Laos.”

FETP graduates play a crucial role in the health sector, contributing to communicable disease prevention and control through biosurveillance activities, investigating cases, and collecting samples. Graduates provide recommendations to policy makers to address and improve disease prevention and control measures. They also assist in outbreak response by conducting contact tracing and interviews to ascertain disease etiology. To date, FETP students and alumni have responded to approximately 500 outbreaks in all 18 provinces, significantly strengthening the epidemiology capacity within the country.

Steward Leadership 25 (SL25) 2024 Opens for Application

SL25 recognises and celebrates the 25 best projects of steward leadership excellence by for-profit organisations. Past honourees include Avtar Group, Last Mile Care Private Limited, Marico Limited, and Tata Consultancy Services.


SINGAPORE – Media OutReach Newswire – 2 May 2024 – In an era where talk of sustainability often exceeds impactful action, Singapore’s Stewardship Asia Centre (SAC) and its partners have embarked on a mission to spotlight businesses that are leading by example. The third iteration of Steward Leadership 25 (SL25) aims to honour projects that embody the essence of steward leadership by merging profitable growth with solutions to some of humanity’s most pressing challenges.

Steward leadership, characterised by a deep-seated commitment to fostering a brighter future for stakeholders, society, future generations, and the environment, is not merely a noble pursuit but a strategic business imperative. It seeks to establish an optimal approach to growth, marrying profit and purpose and achieving prosperity that benefits employees, shareholders, and society alike.

Open to for-profit entities of all sizes and sectors, SL25 welcomes submissions of projects that have generated positive societal and environmental impacts. The application ends 15 May 2024. Last year’s cohort showcased a diverse array of projects from 14 countries, led by companies operating in sectors ranging from financial services and transportation to food and beverage and real estate.

Past honourees have focused on serving underprivileged communities. For instance, Tata Consultancy Services has improved digital access and literacy to youths and seniors, contributing more than S$40,000 worth of laptops and wi-fi connections to underprivileged students to relieve COVID-19 challenges, benefitting more than 150 students in Singapore.

India’s leading consumer goods company, Marico, underscores the importance of environmental stewardship and generates sustainable livelihoods. Among their initiatives is a social value creation programme, Parachute Kalpavriksha, which equips farmers with scientific and climate-resilient farming methods to promote sustainable agriculture while improving their productivity and income generation opportunities.

SL25 is a collaborative initiative involving SAC, the INSEAD Hoffmann Global Institute for Business and Society, WTW, and The Straits Times.

For more information on SL25 and to apply for the 2024 cycle, scan the QR code below. Applications open now till 15 May 2024.

Steward Leadership 25 (SL25) 2024 Opens for Application

Rajeev Peshawaria, CEO of SAC, remarked, “Everyone is talking about sustainability, yet we are not making enough progress. We at SAC have found champions who are quietly creating a powerful impact on society and the environment through their businesses. SL25 recognises these champions of steward leadership.”

The previous iterations of SL25 have brought to light a variety of impactful projects, and the expectation for 2024 is no different. Annisah Smith, Senior Research & Engagement Manager at SAC, shared, “With the growing adoption of steward leadership principles across corporates and SMEs in the region, I’m eagerly anticipating the innovative projects ahead. I’m excited to witness the transformative effects these initiatives will have on communities and the wider Asia-Pacific area.”

The top 25 projects will be showcased at the Steward Leadership Summit 2024 in Singapore, SAC’s flagship event that convenes business leaders, global experts, and eminent speakers to discuss and promote the concept and practice of steward leadership.

SL25 is proudly supported by the Association of Chartered Certified Accountants (ACCA), The American Chamber of Commerce in Singapore, Confederation of Indian Industry (CII), Centre for Impact Investing and Practices (CIIP), Family Business Association (Australia & New Zealand), The Family Business Advisors Association Japan (FBAA), Institute of Corporate Directors Malaysia (IDCM), Indonesian Institute for Corporate Directorship (IICD), Singapore Centre for Social Enterprise (raiSE), Singapore International Chamber of Commerce (SICC) and UN Global Compact Network Singapore (GCNS).

Steward Leadership 25 (SL25) 2024 Opens for Application

Hashtag: #SAC

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

About Stewardship Asia Centre (SAC)

Stewardship Asia Centre (SAC) is a non-profit organisation dedicated to helping business and government leaders, investors, and individuals accelerate leadership action on environmental and social challenges through catalytic knowledge and advisory. We are part of the with a shared purpose of building a better future for every generation. Temasek Trust is the philanthropic arm of Singapore­based global investor Temasek Holdings.

Fosun’s Core Businesses Grow Significantly, Nomura Reiterates “Overweight” Rating


HONG KONG SAR – Media OutReach Newswire – 2 May 2024 – On 30 April 2024, Nomura Orient International Securities (Nomura”) published a research report stating that Fosun International Limited’s (Fosun International” or the Company”) (stock code: 00656.HK) core operations have shown a clear sign of growth on the back of its effective strategy of focusing on core businesses. The growth momentum is especially strong at Fosun Tourism Group. Nomura, therefore, maintains an overweight” rating on Fosun International.

Nomura pointed out that Fosun’s four core subsidiaries, namely Yuyuan, Fosun Pharma, Fosun Insurance Portugal and Fosun Tourism Group together contributed 72% of the Group’s revenue. The revenue from the four core businesses increased by 8%, which was mainly attributable to the growth in Yuyuan’s jewelry and gold business and the outstanding performance of Club Med and Atlantis Sanya under Fosun Tourism Group. The growth drove the Company’s steady revenue growth.

Nomura believes that consumption has shown a clear sign of recovery. The tourism sector, in particular, has outstanding performance. Globally, Club Med broke a record in 2023 by recording a business volume of RMB15.1 billion, which represented an increase of 19.2% over 2022 and is equivalent to 118.3% of the business volume achieved for the same period in 2019. Atlantis Sanya also recorded equally strong momentum for recovery with its business volume surging by 90.9% year-on-year to RMB1.7 billion in 2023. The average occupancy rate at Atlantis Sanya was maintained at a high level of 81.9% in 2023 through a series of industry-driven international and diverse activities such as “Night Tour Experience”, “Super Summer”, and “China’s Mermaid Open Tournament”. For the first two months of 2024, Atlantis Sanya recorded a year-on-year increase of 16.5% in business volume to approximately RMB500 million and an average occupancy rate of 94.8% as it benefitted from surges in demand during the New Year and the Chinese New Year holidays.

The recovery in consumption also spilt over into other sectors. In 2023, Yuyuan’s restaurant chain business accelerated its expansion, with the number of Songhelou Noodle Restaurant increased to 173 nationwide. Meanwhile, the Hangzhou-Shaoxing-Taizhou Railway has been put into operation for two years, and has been run safely and in an orderly manner, transporting a cumulative total of over 20 million passengers.

Nomura sets a price target of HK$5.59 for Fosun International with 19.85% upside, and maintains an “overweight” rating on the Company based on the good development of its business.

Hashtag: #nomura #fosun

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

First Phosphate Announces Gold Sponsorship of THE Mining Investment Event of the North in Quebec City on June 4-6, 2024 and Inaugural Indigenous Business Panel


Saguenay, Quebec – Newsfile Corp. – May 1, 2024 – First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to announce its Gold Sponsorship of THE Mining Investment Event of the North (“THE Event“) to take place on June 4-6, 2024 at the Centre des Congrès in Québec City, Canada.

Armand Mackenzie, VP of Government Relations for First Phosphate, is responsible for organizing and moderating this year’s inaugural Indigenous business panel at THE Event on Wednesday, June 5th, 2024 at 11:30 EST. Ian Lafrenière, Quebec Minister Responsible for Relations with the First Nations and the Inuit; Gilbert Dominique, Chief of the Pekuakamiulnuatsh Takuhikan First Nation; John Passalacqua, CEO of First Phosphate and Darrell Beaulieu, CEO of Denendeh Investments Inc. will discuss best practices in the Industry and the recent collaboration agreement between First Phosphate and the Pekuakamiulnuatsh Takuhikan First Nation and how it aims to combine critical minerals, energy transition, de-carbonization and Indigenous community development into a wholesome view of the future.

“We are proud to sponsor THE Event as it aligns with our values of global cross-border co-operation in the mining industry though community development, student participation, bilingualism and indigenous involvement,” says First Phosphate CEO, John Passalacqua. “Joanne Jobin and her team have undertaken excellent work in short time in establishing THE Event as a premier venue showcasing Canadian mining industries to the world and with careful attention to community, sustainability and culture.”

“I’m delighted to welcome the First Phosphate team as a Gold Sponsor – where they will also participate as a Pavilion Sponsor at our first annual Sponsors Gala Networking/Cocktail and Coreshack Events on June 4 – 5. I’d also like to thank Armand and John for their invaluable contributions to our Indigenous business panel,” says CEO and THE Event Founder, Joanne Jobin. “THE Event invites issuers, investors and government entities to join us in support of this important Canadian mining initiative among global industry investment conferences.”

First Phosphate is planning to install its operations, just two hours’ drive north of THE Event conference venue, in the Saguenay-Lac-St-Jean region of Quebec. First Phosphate believes that Quebec igneous anorthosite phosphate rock is an untapped source of high purity phosphate which can be mined and transformed into purified phosphoric acid (“PPA”). The Company’s objective is the development of a lithium iron phosphate (“LFP”) battery valley in the Saguenay-Lac-St-Jean region of Quebec, one which can help satisfy the large future demand for LFP battery cathode active materials (“CAM”) across North America.

The Company also announces that it has approved the grant of 140,000 restricted share units of the Company (“RSUs”) to an eligible consultant of the Company. The RSUs vest in 4 tranches (25% on each of May 31, 2024; August 31, 2024; November 30, 2024; and February 28, 2025). The terms of the RSUs are in accordance with the Company’s Omnibus Equity Incentive Plan as approved by disinterested shareholders at the Company’s annual and special meeting of shareholders held on August 25, 2023. All securities issued are subject to a hold period of four months plus one day from the date of issuance.

About THE Mining Investment Event of the North
THE Event is by invitation only. Interested investors & issuers should visit:
https://www.themininginvestmentevent.com/register or contact Jennifer Choi, jchoi@irinc.ca

THE Event Agenda, Brochure, participating companies, initiatives, speakers & panelists may be found at: https://themininginvestmentevent.com

THE Event is a Tier I Canadian global mining investment conference held annually in Québec City, Canada. THE Event is independently sponsored and designed to facilitate privately arranged meetings between mining companies, international investors, and various mining government authorities and provides a platform to hear from some of the most influential thought leaders in the sector. THE Event is committed to promoting diversity, equality and sustainability in the mining industry via education and innovation through its unique Student Sponsorship and SHE-Co Initiatives.

About First Phosphate Corp.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the LFP battery industry. First Phosphate is committed to producing at high purity level, in responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.

For additional information, please contact:
Bennett Kurtz, CFO & CAO
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

Forward-Looking Information and Cautionary Statements
This news release contains certain statements and information that may be considered “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward-looking statements, including, among other things, the Company’s planned exploration and production activities, the properties and composition of any extracted phosphate, the Company’s plans for vertical integration into North American supply chains, the Company’s belief that Quebec igneous anorthosite phosphate rock is an untapped source of high purity phosphate which can potentially be mined and transformed into large quantities of purified phosphoric acid (PPA) to service North America’s need for the production of LFP cathode active material to meet electrification targets, and the ability to realize a battery valley in the Saguenay-Lac-St-Jean region of Quebec.

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, expectations of the Company’s long term business outcomes given its short operating history; expectations regarding revenue, expenses and operations; the Company having sufficient working capital and ability to secure additional funding necessary for the exploration of the Company’s property interests; expectations regarding the potential mineralization, geological merit and economic feasibility of the Company’s projects; expectations regarding drill programs and the potential impacts successful drill programs could have on the life of the mine and the Company; mineral exploration and exploration program cost estimates; expectations regarding any environmental issues that may affect planned or future exploration programs and the potential impact of complying with existing and proposed environmental laws and regulations; receipt and timing of exploration and exploitation permits and other third-party approvals; government regulation of mineral exploration and development operations; expectations regarding any social or local community issues that may affect planned or future exploration and development programs; expectations surrounding global economic trends and technological advancements; and key personnel continuing their employment with the Company.

There can be no assurance that such 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: limited operating history; high risk of business failure; no profits or significant revenues; limited resources; negative cash flow from operations and dependence on third-party financing; the uncertainty of additional funding; no dividends; risks related to possible fluctuations in revenues and results; insurance and uninsured risks; litigation; reliance on management and key personnel; conflicts of interest; access to supplies and materials; dangers of mineral exploration and related liability and damages; risks relating to health and safety; government regulation and legal uncertainties; the company’s exploration and development properties may not be successful and are highly speculative in nature; dependence on outside parties; title to some of the Company’s mineral properties may be challenged or defective; Aboriginal title and land claims; obtaining and renewing licenses and permits; environmental and other regulatory risks may adversely affect the company; risks relating to climate change; risks related to infrastructure; land reclamation requirements may be burdensome; current global financial conditions; fluctuation in commodity prices; dilution; future sales by existing shareholders could cause the Company’s share price to fall; fluctuation and volatility in stock exchange prices; and risks related to market demands. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant.

These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian securities authorities, including without limitation the “Risk Factors” section of the Company’s Annual Information Form dated November 29, 2023 which is available on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

Thailand’s NACC finds guilty among four former executives of energy base firm of corruption and bribery


BANGKOK, THAILAND – Media OutReach Newswire – 1 May 2024 – The National Anti-Corruption Commission (NACC) reached a resolution that four former executives of the Thai State-owned oil and gas company, PTT Exploration and Production Public Company Limited (PTTEP), are found guilty of corruption, collusion, and bribery in connection to PTTEP’s Arthit Offshore Gas Field Project.

The NACC was made aware of this case following the United States Government’s announcement of the conclusion of its investigation into the global bribery scheme of Rolls-Royce, the United Kingdom-based manufacturer and distributor of power systems for the aerospace, defense, marine, and energy sectors. The company entered into a deferred prosecution agreement, which publicly disclosed information on corrupt contract awards about gas turbine procurement for several Thai Government’s natural gas projects, including PTTEP’s Arthit Project. The NACC initiated its investigation in response to this high-profile disclosure. The evidence obtained in this case was secured not only from domestic sources but also from abroad through close cooperation with foreign authorities and the Attorney-General, which is the designated Thai Central Authority for mutual legal assistance in criminal matters.

The NACC’s Secretary-General, Mr. Niwatchai Kasemmongkol revealed in recent days that the NACC investigation found a long-running corruption and bribery scheme in the Arthit Project pertaining to the procurement of feed gas turbine compressors between 2004 – 2008 valued over US$24.6 million. The scheme involved PTTEP’s Vice President of the Thai Offshore Assets Division, Mr. Poawpadet Vorabutr, intentionally issuing invitations to unapproved vendors, including Rolls-Royce, to submit bid proposals. In furtherance of the scheme, the Ad Hoc Board for Arthit Procurement whose members included Mr. Chitrapongse Kwangsukstith, Mr. Chulasingh Vasantasingh, and Mr. Anucha Sihanatkathakul, acknowledged the bid result and approved the purchase in principle prior to finalization of critical issues and observations. Subsequently, PTTEP’s President and Secretary to the PTTEP Board, Mr. Maroot Mrigadat, reported contrary facts regarding the approval to the PTTEP Board Meeting. However, Mr. Kwangsukstith, Mr. Vasantasingh, and Mr. Sihanatkathakul, attending the meeting along with Mr. Mrigadat, did not make any clarification or objections against those distorted facts which eventually resulted in the purchase made directly to Rolls-Royce. Moreover, the investigation documentarily revealed that Rolls-Royce transferred approximately US$300,000 into the overseas bank accounts of Mr. Vorabutr’s close associates after the contract was awarded to the company.

Accordingly, the NACC came out with the following decisions:

1. The acts of Mr. Chitrapongse Kwangsukstith, Mr. Anucha Sihanatkathakul, and Mr. Maroot Mrigadat constituted criminal offenses of corruption and collusion under Articles 8 and 11 of the Act on the Offences of Officials in State Organizations or Agencies 1959; and Article 12 of the Act on the Offences Relating to the Submission of Bids to Government Agencies 1999. The acts of Mr. Mrigadat additionally have grounds for a gross disciplinary offense.

2. The acts of Mr. Poawpadet Vorabutr constituted criminal offenses of corruption, collusion, and bribery under Articles 6, 8, and 11 of the Act on the Offences of Officials in State Organizations or Agencies, and Articles 5 and 12 of the Act on the Offences Relating to the Submission of Bids to Government Agencies, and Article 5 (1) and (2) in conjunction with Article 60 of Anti-Money Laundering Act 1999; and Article 103 in conjunction with 122 of the Organic Act on Counter Corruption 1999 (currently, an offense under Article 128 in conjunction with 169 of the Organic Act on Anti-Corruption, B.E. 2561 (2018)). The acts also have grounds for a gross disciplinary offense.

3. The investigation found no facts and evidence demonstrating other persons’ offenses as accused. The accusations had no grounds for further proceedings and were dismissed accordingly.

Due to the death of Mr. Chulasingh Vasantasingh, the right to file a criminal case was extinguished. His case was disposed of.

Following Article 91 (1) and (2), and 98 of the Organic Act on Anti-Corruption, 2018, the NACC’s report, investigation file, documentary evidence, electronic copy, and decision shall be sent to the Attorney-General for prosecution in the competent court, and to their superiors for disciplinary proceedings. Also, the NACC shall notify the Attorney-General to file a motion to the competent court for the confiscation of approximately US$300,000 in bribes following Articles 83 and 84 in conjunction with 93 of the Organic Act on Anti-Corruption 2018.

This successful investigation is one of the tremendous examples reflecting the NACC’s strong commitment to fighting transnational bribery and emphasizing the importance of working cooperatively alongside our international partners to effectively investigate transnational bribery cases.

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*This press release translation is funded by the National Anti-Corruption Fund (NACFHashtag: #IntegrityWay #AntiCorruption #ZeroCorruption #NACC #NACF

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

National Anti-Corruption Commission (NACC), Thailand

The National Anti-Corruption Commission (NACC) is a constitutional independent organization and supervised by nine commissioners selected from various professions. It is authorised to undertake work on the prevention and suppression of malfeasance, particularly in government agencies, on assets investigations, as well as on the monitoring of ethics and virtues of political position holders.

It has the authority to file charges in court as well as support and build up awareness of the penalties for committing corruption. The NACC is supervised by the NACC Board and has the Office of the NACC as its administrative agency.

Since 1997, Thai Courts have ruled against and punished politicians, former ministers, high-ranking government officials as well as executives of the private sector in the thousands of cases submitted by the NACC.

Dominic Khoo Wins Misrepresentation Case Against Innovest Affiliated Company, MCA and Others

The world’s largest luxury watch investment vehicle – WatchFund’s founder Dominic Khoo wins misrepresentation charges against all four Hong Kong businessmen and company MCA

SINGAPORE – Media OutReach Newswire – 1 May 2024 – Dominic Khoo, founder of WatchFund, a multi-award-winning alternative investment firm, has won the misrepresentation trial against the plaintiffs in court.

On 30 April 2024, after a trial spanning 12 days, the Singapore High Court dismissed the claims of fraudulent and negligent misrepresentation made by Plaintiffs Ben Wong, Liew Edmund Ket Vui, Wong Tim Fuk Gary, Wong Nga Kok (aka Jacob Wong) and finance company MCA, against Dominic Khoo and WatchFund Hong Kong (a company that worked exclusively with Innovest an affiliate of MCA), in respect of investment agreements signed between September 2018 and August 2019.

Despite the evidence of witnesses such as Wong Ben, Liew Edmund Ket Vui, Wong Nga Kok, Yung Choi Ha as well as the affiliates of Innovest / MCA (the HK companies which liaised with Watchfund HK), such as Fung Ka Lok Adams (aka Jowin Fung), Wong Yan Kei Christine, Yu Lok Man (aka Leon Yu), the Singapore High Court disbelieved their evidence. The Court found that they “could not have relied on Mr. Dominic Khoo’s Oral Representations because Mr. Dominic Khoo had only met them after they executed their Disputed IAs”. Most importantly, the plaintiffs have “produced no evidence to demonstrate the falsity of the representations that underlie their case”. It was also determined that Mr. Khoo did not make false representations of fact, nor did the plaintiffs suffer damage as a result of any alleged misrepresentations. Mr. Khoo successfully defended these claims with his lawyers, Dentons Rodyk & Davidson LLP led by Mr. Zhulkarnain Abdul Rahim.

Mr. Khoo said, “We are delighted to have been proven to be innocent and cleared of all charges of misrepresentation. We have been trusted as a steward for our investors as a fund manager with unparalleled expertise for this asset class that has outperformed other alternative investments over the past 10 years.”

Mr. Khoo added, “A longtime client of WatchFund said 4 years and $600-800k in expenses is a long time and a lot of money to prove principles! I agree with American poet Bill Bernbach, when he said that “It’s not a principle until it costs you money.”

Mr. Khoo’s triumph in today’s legal proceedings, where he prevailed against allegations of misrepresentation, unequivocally validates his integrity, and reinforces his commitment to truth and fairness in all his dealings.

WatchFund has been featured in Bloomberg, The New York Times, Forbes, Financial Times and other international media for its alternative investment model and returns leveraging luxury timepieces.

WatchFund’s fully aligned investor model backs its unique proposition – giving investors up to double collateral based on the timepieces they hold as their investment grows. The firm’s notable clients include Ultra High-Net Worth individuals, International Celebrities as well as Royalty, who have commended WatchFund for delivering consistently strong returns, even amid economic uncertainty.

Spearheading WatchFund is Dominic Khoo, the firm’s founder and one of Asia’s few certified watch experts. Khoo started his formal training as a watch expert in 2006 with the world’s biggest watch auction house Antiquorum, and is now shareholder of Swiss watch manufactures, luxury distributors, retail shops and other end-customer focused businesses in the same sphere.

Prior to alternative investments, Dominic was a renowned professional photographer and was nominated, alongside his idol, Annie Leibovitz, for Asia Pacific Photographer of the Year. He was also the youngest recipient of Singapore National Heritage Board’s “Patron of Heritage” award, and initiated the charity project “Pure” in 2007 that raised S$300,000 in donations that were given to beneficiaries in full, without donors having to cover costs.
Hashtag: #WatchFund #DominicKhoo

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

Revolutionizing Racing and Trading: AlphaX Teams Up with F2 Sensation Enzo Fittipaldi

SYDNEY, AUSTRALIA – Media OutReach Newswire – 1 May 2024 – AlphaX, a leading cryptocurrency exchange dedicated to shaping the future of trading, proudly announces its groundbreaking partnership with Formula 2 (F2) driver Enzo Fittipaldi. This collaboration marks an exciting convergence of high-speed racing and cutting-edge trading technology, aiming for the shared goal of Speed, Innovation, Winning the Future.
Founded on transparency and innovation, AlphaX provides a range of trading solutions for cryptocurrency enthusiasts. From spot trading to advanced derivatives, AlphaX equips users with state-of-the-art tools to navigate the dynamic crypto landscape. Moreover, AlphaX introduces innovative features like Trading Airdrop, rewarding users for trading, and Snipe Meme, a wallet tool for easy on-chain asset purchases. With these advancements, AlphaX continues to redefine the cryptocurrency trading experience.
Enzo Fittipaldi, a rising star in the F2 circuit and scion of the renowned Fittipaldi racing dynasty, embodies innovation and excellence. In the fast-paced realm of motorsports, where split-second decisions can determine victory, speed, precision, and strategy are paramount. AlphaX and Enzo Fittipaldi share a common vision of pushing boundaries and embracing challenges to drive success. Through this partnership, AlphaX aims to engage a broader audience by leveraging the global appeal of motorsports to introduce them to the exciting world of cryptocurrency trading.
“We are thrilled to embark on this exhilarating journey with Enzo Fittipaldi,” said AlphaX’s CEO. “This partnership represents a fusion of speed, innovation, and excellence, as we strive to revolutionize the intersection of racing and trading. Together, we are poised to accelerate into the future, setting new standards of performance and pushing the boundaries of what’s possible.”
As AlphaX and Fittipaldi gear up, the world anticipates the thrilling fusion of racing and trading, paving the way for an electrifying future.

Hashtag: #alphax #F2

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

AlphaX

Exchange is a pioneering cryptocurrency trading platform dedicated to discovering and promoting value-driven cryptocurrencies. With a strong foundation built by industry veterans and a commitment to user security and satisfaction, AlphaX is your gateway to the future of investment. Join us as we continue to explore the frontier of the crypto market, one successful trade at a time.

Luxshare Precision Announces 2023 Annual Results

Net Profit Exceeds RMB10 Billion for the First Time with Diversified Synergistic Business Presence

SHENZHEN, CHINA – Media OutReach Newswire – 30 April 2024 – On April 24th, Luxshare Precision unveiled its 2023 annual results, 2024 first-quarter financial figures and 2024 interim results forecast together, which brings positive market feedback due to its consistent improved profitability. With those eye-catching financial figures, Luxshare Precision’s stock price climbed over 5% intraday, with a total daily turnover surpassing RMB3.5 billion. Over the week, the company’s stock price increased by more than 9%.

According to the annual report, Luxshare Precision’s 2023 operating revenue achieved approximately RMB231.91 billion, representing a year-on-year increase of 8.35%. Net profit attributable to shareholders of the listed company exceeded RMB10 billion for the first time to RMB10.95 billion, representing a year-on-year increase of 19.53%. In the first quarter of 2024, Luxshare Precision achieved operating revenue of approximately RMB52.41 billion, representing a year-on-year increase of 4.93%. Net profit attributable to shareholders of the listed company was about RMB2.47 billion, representing a year-on-year increase of 22.45%. Meanwhile, Luxshare Precision announced an impressive performance forecast in terms of its net profit for the first half of 2024 with an increase of 20%-25% year-on-year.

The consumer electronics, the key business segment which accounted for 85% of Luxshare Precision’s annual operating revenue, recorded a year-on-year increase of 9.75% to RMB197.18 billion. Over the past year, Luxshare Precision has continued to deepen cooperation with its major customers to enhance its position in the industry chain. By leveraging its vertical integration and efficient collaborative capabilities in components, modules and systematic solutions, Luxshare Precision has kept expanding its shares in the supply chain of major customers and continues to play a significant role in the supply chain for products such as iPhone, AirPods, and Apple Watch. Also, Luxshare Precision has become the exclusive supplier for the Vision Pro, which is the first spatial computing device of Apple.

At the end of 2023, Luxshare Precision acquired a 62.5% stake in Pegaglobe (Kunshan) Co., Ltd. for RMB2.1 billion (about US$300 million). This acquisition is expected to broaden Luxshare Precision’s business cooperation with Apple. After the transaction, Luxshare Precision’s share of mobile phones is expected to reach nearly 40%, with iPhone shipments in 2024 projected to double.

Analyst from Wall Street investment firm Wedbush anticipates that, the iPhone 16, set to launch in September this year, will feature AI intelligence. As a key iPhone supplier and the main supplier for the iPhone 16 Pro Max in the latter half of the year, Luxshare Precision is expected to benefit significantly from market recovery and new model releases.

In March, NVIDIA unveiled the DGX GB200 NVL 72 at the GTC 2024 conference, spotlighting “copper interconnections”, a core product of Luxshare Precision’s communication business. Luxshare Precision currently utilizes self-developed and self-produced Optamax ultra-low-loss, anti-bending high-speed bare wire technology, and offers high-speed copper cable products such as DAC and ACC. Along with the company’s optical interconnection and thermal management products, Luxshare Precision offers comprehensive solutions for high-speed interconnection, earning recognition from top global customers. Luxshare Precision’s communication business revenue in 2023 was RMB14.538 billion, representing a 13.28% year-on-year increase.

During the conference call, the management of Luxshare Precision highlighted that in addition to growth in major customer product lines, the company has also seen success in segmented product areas. For Audio products, the company provides ODM products to various large-scale customers worldwide, and has strong vertical integration capabilities within the industry, bringing substantial margin benefits. Additionally, product lines like the Thunderbolt can also make contribution to the company’s overall growth.

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