SINGAPORE – Media OutReach Newswire – 24 October 2024 – ROSHI, a leading fintech company reshaping digital lending across Southeast Asia, today released a comprehensive report on the Buy Now, Pay Later (BNPL) market in Singapore and its implications for the broader region. The study reveals a seismic shift in consumer credit preferences, with Millennials and Gen Z at the forefront of BNPL adoption.
Key findings from the ROSHI report include:
Singapore’s BNPL market is projected to grow from US$1.2 billion in 2022 to US$3.7 billion by 2032, representing a paradigm shift in consumer financing.
BNPL transactions are 70% larger than average credit card purchases, indicating a significant impact on spending patterns.
42.1% of consumers choose BNPL for better terms, compared to only 17.5% for credit cards, showing a clear shift away from traditional credit options.
BNPL user base has expanded to 1.9 million Singaporeans by 2022, with market share expected to increase by 3% from 2022 to 2027.
Under-35 consumers represent the majority of BNPL users, signaling a generational shift in credit preferences.
“Our research clearly shows that BNPL is not just a trend, but a fundamental shift in how younger generations approach credit and spending,” said Amir Nada, CEO of ROSHI. “As a fintech leader in Southeast Asia, we’re at the forefront of this revolution, developing innovative solutions that cater to the evolving needs of Millennials and Gen Z.”
The report highlights that younger consumers prefer BNPL due to easier access, minimal credit checks, and an aversion to traditional credit card debt. This shift presents both challenges and opportunities for traditional financial institutions and emerging fintechs alike.
“The BNPL boom in Singapore is just the beginning,” added Trịnh Mai Thanh, Lead Researcher at ROSHI. “We’re seeing similar trends across Southeast Asia, indicating a broader regional shift in consumer financing preferences.”
ROSHI’s report also examines the potential risks and benefits of BNPL for consumers and the wider economy. While BNPL offers increased purchasing flexibility, the report emphasizes the need for responsible lending practices and financial literacy programs to ensure sustainable growth in the sector.
The issuer is solely responsible for the content of this announcement.
About ROSHI
ROSHI is a Singapore-based fintech transforming digital lending across Southeast Asia. Since launching its proprietary automated platform in March 2022, ROSHI instantly provides personalised loan options to borrowers by leveraging AI algorithms and machine learning. Currently facilitating home and personal loans through partnerships with various lenders, ROSHI has assisted hundreds of consumers in obtaining loan approvals while providing valuable market insights.
SINGAPORE – Media OutReach Newswire – 24 October 2024 – Senoko Energy, one of Singapore’s largest energy companies, and Gentari, a clean energy solutions provider, have signed a Memorandum of Understanding (MoU) to embark on a collaborative effort to explore the importation of hydrogen gas from Malaysia to Singapore.
Senoko Energy and Gentari Collaborate to Enhance Sustainable Energy Solutions in Singapore with Hydrogen
Following the MoU, both parties will explore the feasibility of importing hydrogen gas from Malaysia to Singapore, with plans to integrate it into Senoko Energy’s existing and new combined cycle gas turbine assets, enhancing their efficiency and environmental performance. The hydrogen will be supplied by Gentari through a 20-year supply agreement, expected to commence by 2029.
Through this collaboration, Senoko Energy aims to explore the reduction of carbon emissions by 18,000 tCO2e annually in the first phase, which is equivalent to taking about 4,000 cars off the roads. This number could potentially increase to 535,000 tCO2e in subsequent phases (equivalent to 119,000 cars). In line with Senoko Energy’s ambition to be the first in bringing in hydrogen to Singapore for power generation, this partnership underscores the company’s commitment to sustainable energy solutions, Singapore’s national hydrogen strategy and contribution to Singapore’s 2050 Net Zero target.
On the partnership, Frederik Baerts, President & CEO, Senoko Energy,said: “Senoko Energy is extremely excited to be embarking on this partnership with Gentari, which represents a significant milestone in our commitment to advancing the energy transition. Hydrogen has the potential to play a critical role in reducing carbon emissions, and so together, we are taking a bold step towards creating a more sustainable energy landscape and low-carbon future.”
The collaboration solidifies Gentari’s position as a leading supplier of green molecules in the region, in line with its aim to become a large-scale hydrogen producer and go-to industry partner for hard-to abate sectors including industry, chemicals, maritime and aviation.
“This partnership with Senoko Energy is a key step in building a hydrogen backbone for Southeast Asia. Cross-border infrastructure like this pipeline connects production and demand centres as we accelerate green hydrogen adoption across the region. Gentari firmly believes hydrogen is crucial to decarbonising multiple sectors on the path to Net Zero, and we’re encouraged by stakeholder support and rising demand for low-carbon hydrogen derivatives,” commented Michèle Azalbert, Chief Hydrogen Officer, Gentari.
Senoko Energy’s collaboration with Gentari is part of its ongoing efforts to support Singapore’s plans for a low-carbon future. Other initiatives include an MoU signed between Senoko Energy and City Energy back in June 2023, which also aimed to explore hydrogen opportunities, as well as SolarShare 2.0, the first commercially available peer-to peer grid scale trading platform for solar energy in Singapore. Concurrently, Senoko Energy is exploring green electricity import, the installation of the latest H-Class Combined Cycle Plant and on-site solar PV.
Gentari is developing Malaysia’s hydrogen economy through several initiatives including an ongoing collaboration with Tenaga Nasional Berhad to conduct feasibility studies on green hydrogen development as well as a partnership with Sarawak’s SEDC Energy to develop a hydrogen production hub in Sarawak. Beyond Malaysia, Gentari is also developing clean ammonia projects in India – independently and with partners, targeting commercial production of more than 5 million tonnes per annum (MTPA) before 2030. Hashtag: #SenokoEnergy
The issuer is solely responsible for the content of this announcement.
About Senoko Energy
Senoko Energy Pte Ltd provides energy for life to generations of Singaporeans, delivering safe, innovative, and efficient energy supply to customers since 1977. Integral to Singapore’s development, it is a pioneer in power generation and energy solutions, serving Singapore’s energy needs with proven reliable performance. As one of the largest power generation companies by installed capacity in Singapore, Senoko Energy has a registered capacity of 2,644 megawatts (MW), providing about one-fifth of the nation’s electricity needs. It is owned by a consortium comprising Marubeni Corporation, ENGIE, The Kansai Electric Power Co. Inc., Kyushu Electric Power Co. Inc. and Japan Bank for International Cooperation. Visit www.senokoenergy.com for more information.
About Gentari
Gentari is focused on delivering the solutions required to put clean energy into action today, to transform how we live tomorrow. Gentari’s three initial core pillars of Renewable Energy, Hydrogen and Green Mobility form a comprehensive portfolio of solutions to help consumers in their decarbonisation journey. Its mission is to be the leading next-generation Commercial and Industrial (C&I) and utility-scale renewable energy developer, a scale hydrogen producer and go-to industry partner, and to be Asia Pacific’s leading green mobility solutions partner. In the long term, Gentari aims to be the most valued clean energy solutions partner, creating greater impact, connecting businesses, and making the journey to a net zero future, possible.
XINJIANG, CHINA – Media OutReach Newswire – 24 October 2024 – Recently, Ili Kazakh Autonomous Prefecture in Xinjiang, China released a promotional film ‘This is Ili’ to show the world the unique style from Ili, Xinjiang.
The film is divided into four chapters: culture and inheritance, vitality and hope, poetry and painting, and openness and development. Leading viewers to appreciate the beautiful Yili with magnificent scenery, harmony and prosperity. It’s a pleasant place to travel, live and work.
The film presents a panoramic view of the unique natural resources of the Ili Kazakh Autonomous Prefecture, the picturesque Nalati, the vast and magnificent Kalajun, the beautiful and colourful Xiata, Tangbula etc.
Landscape of Ili
The vast grassland is heartwarming, subtle fingertip folklore is equally fascinating, such as paper-cutting, embroidery, Aken Aytes, etc. Ili’s deep cultural heritage can be felt and known.
In this fertile land full of vitality and hope, the people live and work in peace and contentment, and live a colourful life. In this historic land of Ili, the eternal standing of the magnificent mountains and rivers and the ever-changing pulse of development, a static and dynamic, everywhere is full of vitality.
Hashtag: #IliKazakh
The issuer is solely responsible for the content of this announcement.
HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – The global economic recovery presents a mixed picture. While the US economy looks set for a soft landing, the eurozone continues to face many uncertainties, particularly in the industrial sector. China, meanwhile, is struggling to sustain its growth. Finally, our political and social risk index remains at a high level despite the fall in inflation – a sign of an increasingly complex and uncertain environment.
In this context, Coface has modified its ratings for 5 countries (4 reclassifications and 1 downgrade) and 17 sectors (12 reclassifications and 5 downgrades), illustrating our scenario of a stabilization of world growth in 2025, admittedly at a level below potential, but without any major upheaval.
The US economy lands, the eurozone fails to take off After a promising start to 2024, the eurozone saw its industrial sector fall again. Its outlook is not very dynamic, as shown by the fall in the purchasing managers’ confidence index. Germany, Europe’s leading industrial hub, remains particularly hard hit, with manufacturing output 12% below its pre-COVID level. The services sector, which had led the recovery, is also slowing, and household consumption remains held back by persistently high savings and low levels of confidence in a context of political uncertainty.
The scenario of a soft landing seems to be confirmed in the United States. The US economy continues to show its resilience, as evidenced by the rebound seen in the second quarter (+3% annualized), with strong domestic demand, even though the labor market is gradually slowing.
Disinflation in the United States, weakening corporate sentiment in the eurozone The third quarter of 2024 brought good news on the disinflation front, both in the United States and in Europe, again thanks to falling commodity prices – oil products in particular. However, in the eurozone, companies are still suffering from a sharp rise in unit labor costs (+4.2% year-on-year), which is squeezing their margins. After peaking in the first half of 2023 in all eurozone countries, the margin rate has fallen by almost 2 percentage points in Germany and the Netherlands, and by double that amount in Spain and Italy, leaving businesses vulnerable, as shown by the rise in insolvencies in recent months.
Time for widespread monetary easing… and austerity? The first-rate cuts by the Fed and the ECB in 2024 mark the start of the expected monetary easing. Furthermore, while monetary policy will be more accommodative (or less restrictive) next year, more restrictive fiscal policies will have an adverse effect on growth in the vast majority of countries, particularly in the eurozone. In July 2024, the European Commission opened an excessive deficit procedure against seven countries, including France.
US elections: 2024, a decisive vote With Kamala Harris and Donald Trump headlining the US presidential election, the choice of one program over the other will have repercussions far beyond the United States. On the domestic front, K. Harris advocates price regulation and a reduction in housing costs, while D. Trump proposes a massive tax cut and a boost to energy production (hydrocarbons). Internationally, K. Harris is seen as a guarantee of continuity in the face of a more unpredictable D. Trump. Trump, who is more unpredictable and, in some respects, more radical than during his first stint in the White House (2017-2021). Whatever the outcome, this election will have a major impact on the global economy for years to come.
China struggles to recover, while other emerging economies pick up the slack Despite the support measures announced, the Chinese economy continues to slow, weighed down by a property market in crisis and sluggish domestic demand.
However, the emerging economies’ contribution to global growth will remain unchanged in 2025, mainly thanks to the acceleration of the Gulf States and South America. This is despite the fact that we are forecasting less dynamic growth in Brazil after two years of growth of around 3%. Beyond domestic factors, many countries in the region are the big winners in the ongoing reorganization of world trade, becoming strategic relays that capture market share in Sino-American supply chains[1].
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.
HONG KONG SAR – Media OutReach Newswire – 24 October 2024 – HKFindLawyer.com has officially launched a new AI legal judgment tool designed to provide citizens with a convenient way to determine whether their actions violate the law. This tool can not only answer specific legal questions but also analyze users’ situations based on current Hong Kong laws to determine whether their actions constitute a crime. The service’s mission is to use technology to help people resolve legal uncertainties, saving time and initial consultation costs with lawyers.
This AI legal judgment tool is powered by GPT-4, one of the world’s leading language models, specifically trained on Hong Kong laws. Users simply input their scenarios, and the AI analyzes the situation based on the relevant regulations to determine if any laws were broken and which specific law might apply. Unlike simple “yes” or “no” answers, the AI can offer flexible responses, outlining different approaches depending on the context and presenting potential legal risks and solutions.
For example, users can input the following questions and receive an analysis from the tool:
Example 1: I unknowingly worked for a scam group. Throughout the process, I thought I was doing legitimate work designing game characters and had little communication with colleagues. It wasn’t until the police arrived that I realized the company had been committing fraud. Am I guilty of a crime?
Answer from AI:
It depends. Whether the situation constitutes a crime will depend on multiple factors, including your intent, the nature of your actions, and whether you exercised reasonable care in your work.
Legal Analysis
According to the Theft Ordinance and the Crimes Ordinance, criminal behavior generally requires intent or knowledge of wrongdoing. If you were truly unaware of the fraudulent activities of the company while performing your job, it is possible that you may not be considered guilty. Here’s a detailed analysis:
Intent: In criminal law, intent or knowledge of wrongdoing is usually required for an action to be considered a crime. In your case, if you can prove that you were completely unaware of the company’s true business, this could serve as a defense.
Reasonable Duty of Care: Courts typically consider whether a person exercised reasonable care in becoming aware of wrongdoing. If you can show that you consistently followed appropriate industry standards and common sense in your work, this could help reduce liability.
Cooperation: If you actively cooperate with the police investigation and provide all the relevant information about the company, this may be viewed as a mitigating factor.
Legal References
According to Section 10 of the Crimes Ordinance, a crime requires intentional and conscious action to be deemed criminal.
Further Analysis
Here are a few possible scenarios and their legal consequences:
Scenario 1: If you can prove that you were completely unaware and had no intention to participate in fraud, it is unlikely that you would be charged with any crime.
Scenario 2: If the police believe that you were negligent in the process (e.g., knowing you should not cooperate but still accepting the job), they may consider the possibility of prosecution.
Scenario 3: If you noticed suspicious activities but chose to ignore them, you may bear some legal responsibility. In conclusion, whether this constitutes a crime primarily depends on your level of awareness and intent during the process.
Disclaimer: The above information is for reference only and does not constitute legal advice. I recommend seeking professional legal assistance through our website for specific guidance: https://hkfindlawyer.com/contact-us/
Example 2:
I touched a woman’s toes on the subway. Is that illegal?
Answer from AI:
No, this is not illegal in itself. However, the context and circumstances surrounding the act are crucial in determining whether it could lead to legal consequences.
Detailed Explanation
Touching someone’s toes, if accidental and without any inappropriate intent, generally does not constitute a criminal offense. However, it’s important to understand the legal context:
Sexual Offences Ordinance (Cap. 200), any non-consensual physical contact, especially of a sexual nature, could lead to criminal charges. Section 2 states: “Any person who commits an act of sexual nature without consent is guilty of an offence.”
Hypothetical Scenarios
In summary, while touching someone’s toes may not be illegal in a neutral context, the intent and perception of the other person are critical in determining whether it could result in legal issues.
It is advisable to refrain from any unwanted physical contact to avoid misunderstandings.
Disclaimer: This response is for informational purposes only and does not constitute legal advice. It is recommended to consult with a qualified lawyer regarding any specific legal matters. For professional assistance, visit our website.
Example 3:
I lent my bank account to someone in exchange for compensation. Later, the police informed me that my account was used for money laundering. Am I legally liable?
Answer from AI:
It depends on the situation.
Under Hong Kong law, using another person’s bank account for money transactions, especially when it involves illegal activities such as money laundering, can lead to legal liabilities. The specific legal consequences will depend on various factors, including your level of knowledge and the nature of the transactions.
According to Section 25 of the Organized and Serious Crimes Ordinance, anyone who participates in, assists, or facilitates the use of their account for money laundering activities may face criminal liability.
Legal Basis
Definition of Money Laundering: According to the Organized and Serious Crimes Ordinance, money laundering refers to the act of concealing the origin or nature of criminal proceeds.
Knowledge vs. Ignorance: If you cannot prove that you were completely unaware of the illegal use of your account, you may be held liable.
Assistance or Profit: If you benefited from allowing your account to be used for money laundering, this would increase your liability.
Scenario Analysis
Scenario 1: You transferred money through your account but were entirely unaware of the other party’s illegal activities. If you can provide evidence to prove this, you may avoid any legal liability.
Scenario 2: You were aware of the illegal activities but still lent your account. In this case, you may be charged with aiding and abetting money laundering and face criminal charges.
Scenario 3: You had a written or verbal contract with the other party when lending your account, and they did not inform you of any illegal uses. If these facts can be proven, you are more likely to be seen as innocent under the law.
In conclusion, your legal responsibility will depend on the specific evidence and circumstances. It is advisable to consult a professional lawyer immediately to better understand your rights and liabilities.
Disclaimer: The above information is for reference only and does not constitute legal advice. Please seek professional legal assistance through our website. Contact us. Other sample questions that can be answered by the AI tool:
I posted an article on social media criticizing someone without mentioning their name, but many people knew I was referring to them. Is that defamation?
I kept some unknown substances for a friend, only to later discover that they were illegal drugs. Could I be charged with drug possession?
I threatened my neighbor that if he didn’t lend me money, I would reveal his private matters to others. Is that extortion?
I exaggerated my income to obtain a higher loan amount. Could this be considered a false statement?
I married a foreign friend to help them obtain residency, but we don’t live together. Is that a sham marriage?
I was speeding on the highway but caused no accidents. Could this be considered dangerous driving?
I repeatedly sent inappropriate messages to a female colleague, despite her showing discomfort. Is this sexual harassment?
These are common legal questions that users may encounter, and the AI tool provides initial insights to help them understand if their actions may have broken the law.
Disclaimer: The AI is still learning, and errors or incomplete judgments may occur. We strongly advise users to consult a professional lawyer after receiving the AI’s preliminary judgment to ensure accurate legal advice.
This tool aims to become the first point of legal consultation for citizens, providing quick and convenient legal guidance and helping them seek further professional legal services.
Future Outlook:
As AI technology continues to develop, HKFindLawyer.com will continuously improve the accuracy and scope of this tool. We plan to introduce expert systems for specific legal fields, enabling the AI to handle more complex legal issues. Additionally, we will introduce bilingual support and explore collaborations with more legal institutions to offer users more professional and comprehensive legal solutions. We believe that the combination of AI and the legal field will greatly enhance access to legal services and gradually transform how people approach legal consultations.
The issuer is solely responsible for the content of this announcement.
HKFindLawyer.com
HKFindLawyer.com is a leading online platform connecting individuals with qualified legal professionals across Hong Kong. The platform aims to make legal services more accessible and affordable by offering free consultations and objective lawyer rankings. In addition to its lawyer matching services, HKFindLawyer.com uses advanced technology, including AI tools, to empower users with legal insights and guidance. With a commitment to innovation and user convenience, HKFindLawyer.com is transforming how people seek legal help in Hong Kong.
Celebrate in Pure Magic, from October to December 2024
BANGKOK, THAILAND – Media OutReach Newswire – 24 October 2024 – Bangkok is set to become the ultimate destination for world-class year-end celebrations as ONESIAM, which encompasses extraordinary experiences across five of the city’s top experiential destinations, transforms Bangkok into a vibrant hub of grand celebrations. Under the banner of “The Magical Celebration,” this three-month festivity invites visitors from around the world to immerse themselves in a sensory journey filled with magical joy.
The lineup of celebrations promises to engage all five senses – sight, sound, taste, touch, and smell – offering a magical experience for every visitor. Whether it’s enchanting light displays that captivate the eye, live musical performances that echo through the halls, gourmet feasts that delight the palate, floral scents that fill the air, or creative workshops that inspire personal expression, each destination delivers an unforgettable sensory journey.
The magical year-end celebrations begin in October and run through December across five destinations that make up the ONESIAM experiences: Siam Center, Siam Discovery, Siam Paragon, ICONSIAM, and Siam Premium Outlets Bangkok.
Siam Center kicks off the festivities with “The Magical Art (of) Toy Celebration,” a whimsical journey featuring over 100 art toy characters. A key highlight of the celebration is the exclusive collaboration between Siam Center, Siam Paragon, and the renowned Thai artist, Nisa “Molly” Srikamdee, the creator of the globally beloved Crybaby characters. This partnership marks the debut of two highly anticipated exhibitions, Siam Center x CryTeddy “Holding On” and Siam Paragon x CryBunny “Letting Go”, which are set to run from November 20 to December 1.
Other notable art toy events at Siam Center include Wendy Pop-Up, marking its first appearance in Thailand, the highly anticipated TOYZERO+ WORLD (Bangkok) from Dec 4 to Feb 2 and the Pony on Wheel Pop-Up, all ensuring a continuous stream of entertainment for visitors throughout the holiday season.
Meanwhile, Siam Discovery invites visitors to embark on a journey of self-discovery with its “New ‘ME’ Resolutions” series of events. Highlights include workshops at marimekko end of October. Additionally, starting December, the venue will transform into a captivating Christmas Market, filled with an array of seasonal treasures waiting to be discovered. The festive spirit further brightens with the mesmerizing lighting of the Sustainable Living X’mas Tree 2024 on November 21.
For those seeking luxury and indulgence, Siam Paragon‘s “The Magical Celebration” invites visitors to immerse themselves in a world of premier experiences. The excitement begins with the opening of Thailand’s first-ever Le Café AMIand Pop-Up Store. Following this, the much-anticipated Nintendo Store will make its debut in Thailand on November 21, bringing joy to gamers and gift hunters alike. As the holiday spirit fills the air, the Festive Decorations by renowned Maison will create a magical atmosphere that unites all in celebration from November 27 onwards.
Siam Paragon will also host a grand 19th-Anniversary Celebration from early December, which features limited-time offers. Adding to the allure is the “Eternal Bloom: The Silk Rose Garden,” an immersive floral display of exotic rose species from December 5 to December 15. Finally, from December 23 to December 31, the “Siam Paragon Glorious Countdown 2025” kicks off the with entertainment and performances from global superstars for a celebration to remember.
As the year draws to a close, visitors can immerse themselves in iconic celebrations at ICONSIAM, the premier mall that sits along the majestic Chao Phraya River. Here, guests will encounter the very best of Thailand and the world through a vibrant cross-cultural fusion. Kicking off on October 29, the “ICONSIAM Bangkok Illumination x ROBBiART” will dazzle attendees with mesmerizing Christmas tree displays in collaboration with ROBBi, the beloved character from China.
Mid November, visitors can enjoy Thailand’s first-ever thematic “ICONSIAM x Be@rBrick Celebrating ICONIC Experience”Be@rBrick Café as well as “ICONSIAM ThaiconicLoy Krathong Festival”, the famed light festival. Last but not least, the “Amazing Thailand Countdown 2025 – Iconic Celebration of Thai-Global Phenomena,” which will take place from December 29 to 31, promises to be an unforgettable 3-day spectacle of fireworks and performances, positioning ICONSIAM as one of the world’s premier countdown destinations.
As the celebrations unfold, Siam Premium Outlets Bangkok will elevate the festive spirit with “The Magical Celebration” photo corners, designed to capture enchanting moments throughout December. From December 28 to January 1, visitors can also join in on festive-themed DIY workshops.
To elevate the year-end celebrations further, international visitors are invited to apply for the ONESIAM Global Card, to access extraordinary promotions, privileges, and services. Visitors can enjoy up to 30% off at participating brands, complimentary welcome gifts and dining vouchers, as well as free Wi-Fi and lounge accesses. From November 16 to December 31, visitors can also take advantage of extra offers from financial partners like Visa, Mastercard and UnionPay. To apply, please visit https://bit.ly/ApplyCardONESIAMYearEnd_
With CNN recently naming Bangkok as top 10 countdown destination in 2023, there’s no better place to experience the magic of the year’s end. The grandeur of these awe-inspiring events positions these locations as must-visit destinations for anyone planning a festive trip to Bangkok this year-end.
The issuer is solely responsible for the content of this announcement.
About ONESIAM
ONESIAM is the ultimate guest experience program initiated by Siam Piwat – one of Asia’s leading luxury retail developer and operator – which aims to showcase a collective of extraordinary experiences across six world-class experiential destinations in the heart of Bangkok, namely Siam Paragon, Siam Center and Siam Discovery, ICONSIAM – the global landmark by the Chao Phraya River, ICS, Siam Premium Outlets Bangkok – the only premium luxury outlet in Thailand, as well as ONESIAM SuperApp – the smart digital platform. ONESIAM aims to share the breadth of the collective destinations while promising to amaze, inspire and revolutionize visitors through exceptional and enriching experiences, ultimately offering a comprehensive journey, unmatched anywhere else in the world.
HONG KONG SAR – Media OutReach Newswire – 24 October 2024 -The first baijiu company listed on the Hong Kong Stock Exchange and the second Chinese sauce-aroma baijiu stock being publicly listed, ZJLD Group Inc. (“ZJLD” or the “Company”, SEHK stock code: 06979. HK), is pleased to announce that it has been rated again as the Top 100 Best ESG Practices among all listed companies in Greater China with “AA” ESG rating by Wind, a top-tier financial information service provider in China.
Wind’s latest data reveals that as of October 17th, only 141 out of the 7,938 listed companies have been awarded an “AA rating or above” in its ESG assessment framework. ZJLD comes first in both the baijiu and wine category and the “Consumer Staples” sector regarding overall ESG performance. This marks the second consecutive year for ZJLD as the sole baijiu company on this prestigious list, underscoring the Group’s unwavering commitment and exemplary achievements in the realms of environmental, social, and corporate governance (ESG). The Company’s innovative approaches and invaluable experiences have set a new benchmark, serving as a wellspring of inspiration and role model for the industry’s multifaceted progress in the ESG domain.
ZJLD has long prioritized ESG management and implementation. The Company has established a comprehensive ESG governance framework and action plan, covering energy conservation and emissions reduction, green packaging, quality assurance, employee welfare, rural revitalization, charitable initiatives, and the advocacy of responsible drinking – encompassing 4 strategic goals and over 300 ESG implementation measures. Through these tireless efforts, ZJLD has solidified its leadership position as an innovative ESG trailblazer in the baijiu industry.
From the environmental perspective, ZJLD has embedded water resource management, climate change risk mitigation, and sustainable packaging as critical priorities, seamlessly integrating these practices into its daily operation processes. The Group has also increased the proportion of renewable energy utilized at its facilities and the usage of sustainable packaging materials, leading to the Group’s flagship “Zhen Jiu” brand being recognized as the “National Green Factory”. From the Social perspective, ZJLD encourages agriculture development, such as sorghum and wheat, across Guizhou, Hunan, Jiangxi, and Henan, benefiting more than 100,000 rural farmers. The Group has also strengthened its commitment to gender equality, labor rights, philanthropic contributions to education, and disaster relief, steadfastly fulfilling its social responsibilities.
Mr. Paul Ng, the Executive Director and Head of International Operations of ZJLD Group, expressed, “Being awarded as one of the ‘Top 100 Best ESG Practices’ Among China’s Listed Companies for the second consecutive year is a testament to the Group’s unwavering exploration and diligence on the path of sustainable operations. We will continue to uphold our ESG-centric business philosophy, with environmental protection, social welfare, and corporate governance as our three pillars. We will further optimize our management systems and deepen practical implementation to set new industry benchmarks for ESG excellence.”
Hashtag: #ZJLD
The issuer is solely responsible for the content of this announcement.
About ZJLD Group Inc.
Zhen Jiu was established in 1975 in Zunyi, Guizhou, China’s primary production area of sauce-aroma baijiu. In 1988, it was honored with the National Quality Award at the 5th National Wine Appreciation Conference. In the same year, it was announced by the Protocol Department of the Ministry of Foreign Affairs, the Communication Department of the Ministry of Economy and Trade, and the Great Hall of the People Management Bureau to become one of the two sauce-aroma baijiu served at state banquets. It is now one of the “Three Representative Baijiu Brands in Guizhou”.
ZJLD Group Inc. is a leading baijiu group in China that is devoted to offering premium baijiu products, including sauce-aroma, mixed-aroma, and strong-aroma. In terms of revenue in 2023, the Company was the third-largest private baijiu company in China, according to Frost & Sullivan statistics. The Company operates four baijiu brands in China, including two national baijiu, Zhen Jiu and Li Du, and two regional brands, Xiangjiao and Kaikouxiao. ZJLD prides itself on inheriting the time-honored baijiu-brewing techniques and reinvigorating them to develop iconic products. It strives to create a wide variety of aromatic and mellow baijiu products to meet the diverse preferences of consumers, seize broader market opportunities, and promote traditional Chinese baijiu culture.
Partnership is unveiled at the Ascott Unlimited Global Marquee Event during ITB Asia 2024, capping off a year-long campaign celebrating Ascott’s 40th anniversary
SINGAPORE – Media OutReach Newswire – 23 October 2024 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), is pleased to announce that Ascott China has entered a 50:50 joint venture with Jin Jiang Hotels (China Region) to advance the asset-light expansion of their respective apartment hotel brands in China, namely Ascott’s Quest and Jin Jiang Hotels’ TULIP LODJ. Using primarily a franchise model, the joint venture will enable the rapid growth of Quest and TULIP LODJ to meet China’s underserved demand for apartment hotels in the upscale and upper midscale segments, while driving long-term investment success for owners. From the outset, the joint venture company will manage two operating properties in Wuhan and one pipeline property in Shenzhen franchised under TULIP LODJ, totalling about 600 units. Plans are underway to broaden the footprint of TULIP LODJ and launch Quest in China by providing opportunities for franchised partnerships.
Jin Jiang is China’s largest and the world’s second largest hotel group[1] with about 13,250 operating hotels, over 1.34 million rooms and nearly 200 million loyalty members. The joint venture represents a win-win collaboration between Ascott China and Jin Jiang Hotels (China Region) to tap the vast potential of the country’s hotel franchise industry. It will leverage Jin Jiang Hotels’ franchise-ready infrastructure comprising strong local teams and robust supply chains across the country to rapidly launch the Quest brand and provide strong support for its future expansion. In parallel, the collaboration will build on Ascott’s years of in-depth experience operating international-class serviced residences to develop TULIP LODJ into a high-quality apartment hotel brand. Properties under the joint venture will join the distribution networks and loyalty programmes of both Ascott and Jin Jiang Hotels. Guests who are members of both Ascott Star Rewards and Jin Jiang Rewards will enjoy the flexibility to earn and redeem points with either programme when booking stays at Quest and TULIP LODJ in China.
At the Ascott Unlimited Global Marquee Event held on 23 October 2024, representatives from Ascott and Jin Jiang Hotels marked their strategic partnership to accelerate the expansion of their apartment hotel brands Quest and TULIP LODJ in China, witnessed by Guest-of-Honour Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth (centre). From left to right: Mr Joseph Wong, Managing Director of China, Ascott; Mr Kevin Goh, CEO for Ascott and CLI Lodging; Ms Zhou Wei, Vice President of Jin Jiang International Group; and Ms Wang Wei, CEO of Jin Jiang Hotels (China Region).
This strategic partnership is unveiled at the Ascott Unlimited Global Marquee Event during ITB Asia 2024, marking the culmination of Ascott’s year-long campaign celebrating 40 years of hospitality excellence. The event is attended by about 300 guests with Mr Alvin Tan, Singapore’s Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, in attendance as the Guest-of-Honour.
Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging, said: “2024 has been a groundbreaking year as we mark Ascott’s 40th anniversary. From record signings in key markets like Europe and Southeast Asia to being named the Official Global Hotels Partner of Chelsea Football Club, every milestone underscores Ascott’s innovative spirit and commitment to growth through our distinctive flex-hybrid hotel-in-residence model. As we conclude our year-long Ascott Unlimited campaign with the Global Marquee Event, we are delighted to announce a new partnership with Jin Jiang Hotels. The collaboration will accelerate our asset-light expansion in China by leveraging Jin Jiang’s franchise-ready infrastructure, complementing our successful management strategy in the market where we currently operate more than 220 properties in over 40 cities. With 90% of Ascott’s global portfolio already operating under management and franchise agreements, we remain focused on advancing our asset-light strategy for further growth.”
“Quest is the leading apartment hotel brand in Australasia, and we see tremendous potential in extending its success to China as the country’s hotel franchising industry continues to mature. Recent research[2] indicates that 68% of new hotel signings in China in the first half of 2024 are franchise contracts – up from 61% a year ago and surpassing the average of 62% in regions outside the Americas. Our plans to establish Quest’s brand presence in China align with our overall growth strategy and reinforce our commitment to maximising the value of Ascott’s acquisition of this esteemed brand,” he added.
Mr Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott, said: “Bleisure travel is thriving in China as professionals seek the ideal blend of work and leisure, creating a vibrant demand for apartment hotels. Quest is poised to meet this need with its signature spacious and convenient accommodations designed for business travellers and families alike. Lauded as Australasia’s largest apartment hotel brand with over 160 properties across Australia, New Zealand, Fiji and the United Kingdom, we see significant promise in extending the brand influence of Quest to China. Leveraging our complementary strengths with Jin Jiang Hotels, we are confident that the joint venture will serve as an excellent platform for local owners to access one of Ascott’s iconic brands and bring it to their respective locations. We will work closely with Jin Jiang Hotels to develop supportive frameworks and effective commercial strategies to power the success of Quest and TULIP LODJ owners in China.”
Ms Wang Wei, Chief Executive Officer, Jin Jiang Hotels (China Region), said: “We are pleased to collaborate with Ascott to create more flagship apartment hotel properties in China that combine the best qualities of hotels and serviced apartments. By bringing TULIP LODJ into the joint venture, we aim to propel the development of this unique social living concept that blends the rich cultures of China and France. As franchising becomes an increasingly important business model in China’s hospitality industry, the joint venture is well-positioned to leverage the established franchise capabilities of both Ascott and Jin Jiang Hotels to fuel new growth. Harnessing our respective strengths through this partnership, we look forward to helping both TULIP LODJ and Quest achieve significant growth in property numbers and brand influence in China, and providing guests with diverse, high-quality stay experiences.”
More information about the Quest and TULIP LODJ brands in China is available in Annex A and Annex B respectively.
Ascott Unveils Its Most Ambitious Showcase Yet at ITB Asia 2024 With more than 80% of its business based in Asia Pacific, Ascott fittingly concludes its year-long Ascott Unlimited campaign with its largest-ever presence at ITB Asia, one of the region’s premier travel trade show and convention. In its inaugural role as the event’s Official Partner Hotel, Ascott is extending its hospitality to hosted buyers of ITB Asia 2024 at The Robertson House by The Crest Collection, a beautiful colonial-style building steeped in rich history and offering stunning views of the Singapore River.
Mr Kevin Goh, CEO for Ascott and CLI Lodging, delivered a keynote address titled “Navigating the Future of Travel – Embracing Technological Innovations” at the opening of the ITB Asia 2024 on Wednesday, 23 October. This year marked Ascott’s largest participation to-date at the region’s premier travel trade show and convention as the company marked its 40th anniversary and transformation as a global hospitality company.
Highlighting Ascott’s leadership, Mr Kevin Goh delivered a keynote address at the opening of the ITB Asia 2024 in the morning of 23 October. Titled “Navigating the Future of Travel – Embracing Technological Innovations”, his speech outlined the key characteristics of the “guest of tomorrow” and emphasised essential changes industry leaders must adopt to meet the demands of a travel landscape that is becoming more personalised, connected and committed to sustainability.
The Ascott Unlimited Global Marquee Event featured a dialogue session that brought together four travel industry leaders Mr Loh Lik Peng, CEO of Unlisted Collection; Mr Kevin Goh, CEO for Ascott and CLI Lodging ; Ms Zhou Wei, Vice President of Jin Jiang International Group; and Mr Frank Trampert, Senior Vice President and Global Managing Director of Community Sales at Sabre Hospitality. The panellists discussed the unique advantages Asia holds in driving positive changes through innovation, technology and sustainability in the future travel ecosystem.
In the afternoon, Ascott is hosting the exclusive Ascott Unlimited Global Marquee Event featuring a dialogue session, followed by an evening of networking among trade partners and industry leaders. Titled “Transforming Travel: Can Asia Lead the Charge in Revolutionising the Hospitality Industry?”, the dialogue session brings together four travel industry leaders to explore the unique advantages Asia holds in driving positive changes through innovation, technology and sustainability in the future travel ecosystem. Moderated by veteran presenter Ms Diana Ser, the panel comprises Mr Kevin Goh; Mr Loh Lik Peng, Chief Executive Officer of Unlisted Collection; Ms Zhou Wei, Vice President of Jin Jiang International Group; and Mr Frank Trampert, Senior Vice President and Global Managing Director of Community Sales at Sabre Hospitality.
A recap of key milestones from the year-long Ascott Unlimited campaign is included in Annex C.
Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth (third from left), enjoying a bottle of healthy green juice crafted to represent the Somerset brand at Ascott’s booth at ITB Asia 2024. He was accompanied by (from left to right) Mr David Ruetz, Senior VP, Messe Berlin; Ms Melissa Ow, Chief Executive, Singapore Statutory Board; Ms Beh Siew Kim, Chief Financial & Sustainability Officer for CLI Lodging and MD of Japan and Korea, Ascott; Ms Tan Bee Leng, Chief Commercial Officer for Ascott; and Mr Mario Tobias, CEO of Messe Berlin, with a special appearance by Cubby, Ascott’s beloved mascot.
Visit Ascott’s booth P05 at ITB Asia 2024 From 23 to 25 October, Ascott will showcase its largest booth to date at ITB Asia 2024. Located at P05, the booth highlights the company’s flexible hospitality solutions aligned with the latest travel trends, including bleisure travel and multigenerational family travel. It comprises three activity zones packed with fun-filled experiences. In the “Game On, Stay On!” zone celebrating Ascott’s partnership with Chelsea Football Club, visitors can challenge each other to a foosball match, sign up for a complimentary Ascott Star Rewards membership, and score an instant silver-tier upgrade on their first app login – all while immersing themselves in the vibrant, experience-led social living atmosphere of Ascott’s lyf brand.
The “Top It Up!” zone will feature a bar reminiscent of the Oakbar at Ascott’s Oakwood properties, serving bespoke drinks crafted to highlight the unique positioning of different Ascott brands. Lastly, the “In Full Swing!” zone features an Instagram-worthy treehouse swing, making the perfect spot for capturing memorable moments while discovering the leisure-centric experiences offered by Ascott’s brands, including the family-friendly Somerset. Visitors can also participate in games and enter a lucky draw for a chance to win exciting prizes.
[1] Source: 2023 global hotel group rankings by HOTELS.
[2] Source: Horwath Global Signings Report 1H 2024.
Annex A – Quest brand in China The Quest brand in China seeks to serve as a second home and an ideal workspace for guests, accommodating both long-term and short-term stays. Quest properties in China will highlight the brand’s signature neutral tones and bleisure design style, reflecting the understated elegance of urban hotels while also enhancing its features to align with current Chinese lifestyles.
The Quest show room in Shanghai showcases functional areas, including the bedroom, living area, bathroom and balcony, designed to seamlessly integrate and meet the needs of the Chinese market.
Quest in China employs modular and quick-installation techniques for various aspects, including wall materials, furniture and storage solutions, enabling precise cost control while allowing owners to choose the configurations based on their needs, whether for new build or conversion projects.
Quest properties will feature amenities such as fitness centres and meeting rooms, alongside services like regular room cleaning, laundry assistance and reservations at local restaurants. The brand’s signature blend of the comforts of home and the service of a hotel helps guests feel at home, appealing to travellers staying for days, weeks, or even months. Each Quest property in China will be locally owned and managed, allowing guests to immerse themselves in the local way of life and enjoy a comfortable stay.
Annex B –TULIP LODJ in China TULIP LODJ is an apartment hotel brand with a unique Franco-Chinese heritage. Originating from the French Louvre Hotels Group, it primarily targets travellers who appreciate the comforts of home while exploring new destinations. After Jin Jiang Hotels acquired the Louvre Hotels Group, the brand was officially introduced to the Chinese market, with Jin Jiang Hotels (China Region) authorised to expand and manage its operations.
Recognising the increasingly diverse lifestyles and preferences of China’s younger generation who place a high value on digital experiences, TULIP LODJ has focused its product design on the concept of creating an Urban Creative Home. This approach caters to urban professionals, young creatives, overseas returnees and pet lovers, offering a rich variety of experiences and a digital lifestyle that resonates with these city dwellers.
In November 2023, TULIP LODJ opened its first location in Wuhan featuring a high-quality, social living apartment hotel concept. The property fills a gap in the local market for mid-to-high-end accommodation, achieving several consecutive days of full occupancy during its first month. To date, the property has maintained an occupancy rate of over 90%.
The Jinma Tower, where the property is located, is part of a key urban renewal initiative supported by the local government, making TULIP LODJ a prime example of how Jin Jiang Hotels (China Region) is revitalising existing assets and promoting sustainable development. Currently, TULIP LODJ operates two properties in Wuhan – TULIP LODJ Wuhan Wusheng Road and TULIP LODJ Wuhan Fanhai CBD. Another project in Shenzhen, TULIP LODJ Lido Residence Shenzhen Nanshan, is set to open by early 2025.
Annex C – Highlights of Ascott Unlimited Campaign Celebrating 40 years in hospitality service in 2024, Ascott launched a year-long campaign at the start of this year to adapt to changing times and pursue new ambitions. Unveiled at the Southeast Asia debut of the Asian Hotel Industry Conference & Exhibition (AHICE) 2024, the launch marked a new era for the company as it embraces a future of unlimited possibilities in the evolving travel landscape.
Ascott Unlimited represents Ascott’s transformative journey to go unlimited in different ways for its stakeholders, offering enhanced value for owners, myriad experiences for guests, and growth opportunities for associates.
Unlimited Freedom With its distinctive flex-hybrid hotel-in-residence model, Ascott provides owners with opportunities to maximise their business potential while offering travellers a wide range of experiences across 14 brands, allowing them to stay in a way that suits their preferences.
Aligning with the evolving needs of travellers today, Ascott unveiled two brand refresh initiatives this year for Oakwood and The Unlimited Collection.
The refreshed Oakwood brand addresses a growing market of business professionals who increasingly value holistic travel experiences, through providing the comforts of home and beyond to guests, no matter where their journeys lead to. Offering guests even more options across even more destinations, the brand further expanded across more city hotels and full-service resorts including Oakwood Ha Long in Vietnam and Oakwood Suites Chongli in China.
During the year, Ascott announced significant expansion plans in Europe and Southeast Asia, highlighting the trust and confidence of its owners in the company’s growth and management capabilities. In Europe, the company signed six new properties – marking the debut of The Unlimited Collection brand and expanding the lyf brand – which increased its European portfolio by 14% to about 8,000 units. In Southeast Asia, Ascott secured 28 new agreements, adding over 3,400 units and boosting its regional portfolio to over 360 properties across 86 cities, reflecting a remarkable growth trajectory with its portfolio increasing more than fivefold over the past decade.
Unlimited Choices With loyalty as a key driver of growth, Ascott celebrated the fifth anniversary of Ascott Star Rewards (ASR) with a refreshed brand promise that extends its benefits beyond just stays. This year, the loyalty programme introduced Ascott Privilege Signatures, a global initiative that allows members to access exclusive, unforgettable experiences, including world-class sporting events like The Championships Wimbledon and the Singapore Night Race. ASR also launched a series of Local Signatures designed to engage and reward members through unique local events.
The partnership provides unparalleled opportunities for Ascott to bring together the worlds of hospitality and football to curate memorable fan engagement activities, exclusive offers for Chelsea supporters, and bespoke stay experiences at Ascott properties for fans and guests alike. Ascott has started collaborating with Chelsea to engage with football enthusiasts through various initiatives, including the debut of The Famous CFC international fan engagement programme in Southeast Asia, starting with Singapore.
Unlimited Opportunities With associates as the foundation of Ascott’s business, empowering its people to build thriving careers is a top priority. In May, the Ascott Global Academy for Excellence was launched to nurture and strengthen the talent pool in the industry.
Ascott also launched an internal associate campaign to highlight the growth opportunities available for personal development. This initiative featured the personal stories of six associates from diverse backgrounds and roles, showcasing their journeys of growth and development.
Unlimited Good With a commitment to a culture of care and hospitality, Ascott is growing responsibly as a changemaker, driven by a purpose to impact the future of travel.
In support of World Cleanup Day this year, over 1,000 associates from countries across Asia, including China and Thailand, participated in local initiatives to raise awareness of the global waste crisis, effectively clearing more than one tonne of waste.
Throughout September and October, associates from Ascott properties and offices worldwide united in partnership with CapitaLand’s annual #GivingAsOne campaign. Together, they drove collective social impact through volunteer activities focused on the theme of building resilience in children through education, health, and well-being.
For example, in Singapore, 136 volunteers from Ascott’s headquarters and local team supported the Children’s Day carnival at Rainbow Centre Yishun Park School. They played a key role in bringing the event to life, engaging the children through games and activities designed to empower them. Hashtag: #ascott
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About The Ascott Limited
Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with over 960 properties globally. Headquartered in Singapore, Ascott’s presence extends across about 230 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.
Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox, Harris, POP!, Preference, Quest, Vertu and Yello. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.
A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.
This year, Ascott marks 40 years in hospitality service with the launch of Ascott Unlimited, a full year campaign that will offer Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good. Navigating a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel, Ascott Unlimited marks Ascott’s ambitions to break new ground, and springboard to its next chapter of growth as a global hospitality company. Find out more about Ascott Unlimited at www.discoverasr.com/ascottunlimited.
About CapitaLand Investment Limited (www.capitalandinvest.com)
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 30 June 2024, CLI had S$134 billion of assets under management, as well as S$100 billion of funds under management held via six listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in thematic and tactical strategies. Its diversified real estate asset classes include retail, office, lodging, industrial, logistics, business parks, wellness, self-storage and data centres.
CLI aims to scale its fund management, lodging management and commercial management businesses globally and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.
As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.