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ZO Neo-Horizons Bond Fund Celebrates One-Year Anniversary

Navigating Volatility to Create Opportunities and Deliver Stable Capital Appreciation for Investors


HONG KONG SAR – Media OutReach Newswire – 11 November 2024 – As a leading investment management company specializing in fixed-income and multi-asset strategies, Zhong Ou Asset Management International Limited (“ZOAM Intl.”, or the “Company”) is delighted to celebrate the first anniversary of its flagship ZO Neo-Horizons Bond Fund (the “Fund”). Since its inception, the Fund has been entrusted with the long-term mission of assisting investors in achieving a high level of current income, providing steady capital growth, and diversifying investment risks – a mandate that has proven invaluable amidst the prevailing environment of interest rate volatility and heightened macroeconomic headwinds.

Press Release Image (Nov 2024)

Over the past year, powered by the Fund’s seasoned investment management team and forward-looking asset allocation strategies, the ZO Neo-Horizons Bond Fund has delivered robust and commendable returns, underscoring its exceptional value as a fixed-income investment proposition. This performance has been particularly noteworthy against the backdrop of the highly volatile market conditions that have plagued the broader capital markets.

ZO Neo-Horizons Bond Fund adopts a flexible asset allocation strategy, not confined to a single market or bond type nor relying on simple passive index tracking. Instead, the Fund employs an active management approach, dynamically investing across a diverse range of fixed-income assets, including investment-grade corporate bonds, high-yield bonds, and government securities, based on evolving market conditions. The Fund also implements a multi-layered risk control mechanism, utilizing in-depth market analysis to anticipate and mitigate potential risks while employing derivative instruments such as interest rate futures to further hedge against market volatility.

Capital markets have displayed pronounced fluctuations as the global economy gradually recovers from the pandemic. Persistent inflationary pressures, coupled with supply chain challenges and geopolitical factors, have resulted in losses and dampened investor confidence for many. In light of this, fixed-income products, geared with relatively steady return profiles and lower volatility, have emerged as the optimum investment choice for investors seeking stable income and risk diversification. In addition to providing steady cash flows, fixed-income securities can also help investors hedge against the uncertainties associated with equity market fluctuations, thereby balancing the inherent risks posed by varying interest rate environments.

“ZO Neo-Horizons Bond Fund was designed to help investors achieve relatively stable capital appreciation in turbulent market environments,” said Ms. Yolanda Ye, the Head of Fixed Income and Multi-Asset at ZOAM Intl. “Through flexible asset allocation and sophisticated risk management, we have invested cautiously in a wide array of global fixed-income assets. Investors can timely adjust their portfolios to seek higher returns as the market evolves. When interest rates rise, the Fund can reduce exposure to long-term bonds and increase holdings in short-term bonds to mitigate interest rate risk; conversely, when rates decline, we can increase allocations to long-term bonds to capture the profit opportunities from bond price appreciation.”

As a key product offering from ZOAM Intl. in the current market landscape, ZO Neo-Horizons Bond Fund aims to provide investors with a relatively stable investment choice through agile asset allocation and proactive risk management. Going forward, the Company will continue to leverage its expertise in fixed-income and multi-asset management to introduce further innovative products that cater to investors’ evolving and diversified asset allocation needs.
Hashtag: #ZOAMIntl

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

About Zhong Ou Asset Management International Limited (ZOAM Intl.)

Zhong Ou Asset Management International Limited (ZOAM Intl.) became a wholly-owned Hong Kong subsidiary of Zhong Ou Asset Management Co., Ltd. (ZOAM) in 2019. ZOAM Intl. is licensed under the Securities and Futures Commission of Hong Kong (SFC) to conduct activities of Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management). It also has qualified foreign institutional investor (QFII) and Renminbi qualified foreign institutional investor (RQFII) qualifications. The team has solid experience in operating public funds, private funds, and discretionary accounts in different jurisdictions.

Being ZOAM’s gateway to the international market, ZOAM Intl. provides overseas investors with all-around China-themed investment solutions, exploring opportunities in Mainland China’s financial market. Meanwhile, it assists ZOAM in developing qualified domestic institutional investor (QDII) businesses to provide global investment services to Chinese domestic investors.

For more information, please visit the official website (the website content has not been reviewed by SFC):

Disclaimer
Investment involves risk, including possible loss of principal. Past performance is not indicative of future performance.

One should not rely solely on the information provided in this material, and it is advisable to read the relevant Prospectus and Key Facts Statement of the Fund for details, including the risk factors, before making any investment decisions.

ZO Neo-Horizons Bond Fund (the “Sub-Fund”) is subject to various investment risks, including but not limited to general investment risks, risks associated with debt securities, emerging markets (including China market) risks, and risks related to debt instruments with loss-absorption features etc.

ZO Neo-Horizons Bond Fund is a sub-fund of Zhong Ou International Edition Fund Series Open-ended Fund Company (the “Company”). The Company has been registered with the Securities and Futures Commission (“SFC”) as an open-ended fund company; the Company and the Sub-Fund have been authorised by the SFC pursuant to Section 104 of the Securities and Futures Ordinance (Cap. 571) (“SFO”). The SFC’s registration and authorisation do not represent a recommendation or endorsement of the Company or the Sub-Fund nor guarantee the commercial merits of the Company or the Sub-Fund or their performance. They do not mean the Company or the Sub-Fund is suitable for all investors, nor do they represent an endorsement of its suitability for any particular investor or class of investors.

One should not rely upon this material for forecasts, research, or investment advice. This material does not constitute a recommendation, offer, or solicitation to buy or sell any securities or adopt any investment strategy. The opinions expressed are as of November 2024 and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by ZOAM Intl. to be reliable, are not necessarily all-inclusive, and are not guaranteed accurate. This material may contain ‘forward-looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.

The information in this material is provided by Zhong Ou Asset Management International Limited (“ZOAM Intl.”) (CE No.: BLR959) and is restricted in distribution in Hong Kong only. This material has not been reviewed by the Securities and Futures Commission (“SFC”) of Hong Kong.

AI in finance by global broker Octa: transforming investment strategies for the future


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 11 November 2024 – AI has already made a profound impact on the financial markets. Its ability to predict trends, execute trades swiftly, and manage risk is transforming investment strategies at its core. Since it allows companies to provide enhanced user experience with improved accuracy and personalisation, businesses have started to adopt the tech and implement AI-based solutions. NVIDIA’s 2024 survey revealed that over 60% of financial services firms have already integrated AI into their processes, while another 25% are actively planning to do so. These companies use AI to improve decision-making, streamline operations, and enhance risk management. According to BCG, AI has the potential to increase financial services productivity by as much as 40% by 2025. In this article, we’ll explore how AI changes the investment landscape and highlight practical examples of its application in the financial sector.

Octa

The role of AI in financial markets
The financial sector’s integration of AI isn’t just about data processing or speed; it’s a multi-dimensional transformation. According to NVIDIA, AI in finance is now used for fraud detection, predictive analysis, and even customer service. AI’s ability to sift through massive data sets, identify hidden patterns, and make accurate predictions is unparalleled. Whether it’s historical market data, social media sentiment, or financial reports, AI systems are increasingly relied upon to forecast market movements, which facilitates trading. For instance, with AI-based tools like OctaVision, which provides AI-driven analysis, traders can quickly, easily, and more accurately assess market data and identify potential opportunities. Kar Yong Ang, a financial market analyst at Octa, a globally recognised licensed broker, remarks: ‘AI’s growing role in trading and investment isn’t just about speed or data processing. Its real value lies in its ability to offer retail traders access to sophisticated analytical tools, empowering them to make more informed, data-driven decisions’.

Besides these AI-driven benefits, the tech allows for new user experiences, such as:

  • Algorithmic trading: AI-powered trading platforms can now execute trades at speeds impossible for humans to match. According to IBM’s report, around 80% of financial firms leverage AI for real-time market analysis and trade execution. This has contributed to the growth of high-frequency trading (HFT), which allows thousands of trades to be made in microseconds.
  • Portfolio management: AI also plays a critical role in portfolio diversification. By assessing economic trends, geopolitical risks, and historical data, AI helps create more balanced portfolios. Forbes highlights that AI-powered portfolio management can reduce risk exposure by up to 25%, an advantage in volatile markets.


Real-life examples of AI in finance

Several top financial institutions demonstrate how AI is changing the landscape. Renaissance Technologies, for instance, has leveraged AI-driven models for decades to power its Medallion Fund. This fund, often described as one of the most successful in history, employs machine learning to identify trading patterns that are otherwise invisible to human traders. Over the past few decades, the fund’s AI-driven approach has helped generate annualised returns exceeding 66%, a feat nearly unmatched in the industry.

Similarly, BlackRock, the world’s largest asset manager, utilises AI-driven tools to track market trends and improve its investment strategies. Their partnership with Microsoft and NVIDIA underscores the importance of building robust AI infrastructures to stay competitive in global markets.

The opportunities and risks of AI in trading
While the benefits of AI in trading are compelling, it’s essential to acknowledge the risks. According to the State of AI in Financial Services: 2024 Trends report, one of the major challenges for businesses is preserving data privacy and building secure AI: 84% of financial organisations have already implemented or plan to implement a framework to govern how AI will be built, trained, and used to adhere to business principles and relevant regulation.

For traders and investors, a key concern is over-reliance on algorithms. They might become too dependent on AI systems, leading to a disconnect from market fundamentals. In extreme cases, this could result in flash crashes, where AI systems react too quickly to market anomalies, causing extreme volatility in short periods.

Furthermore, AI models are only as good as the data they’re trained on. Poor data quality can lead to inaccurate predictions, which, in turn, may cause significant financial losses. This is why financial institutions must prioritise data integrity and transparency when deploying AI systems.

Despite these challenges, the risks can be mitigated through a combination of human oversight and continuous model improvement. When used responsibly, AI provides immense value to investors by reducing human error and making more informed, data-driven decisions.

Here are a few practical steps for those considering integrating AI into their trading strategies:

  1. Test AI tools before full integration: for example, through demo accounts or backtesting. This allows investors to see how the AI performs under different market conditions without risking real capital.
  2. Stay informed: the AI sphere constantly evolves, with new tools and models emerging regularly. Stay updated on the latest advancements in AI to ensure you’re leveraging the most up-to-date technologies.
  3. Diversify with AI: don’t rely solely on AI for trading decisions. Use it as part of a broader strategy that includes traditional analysis and risk management techniques.

AI’s role in the financial markets is undeniably transformative. From automating trades to providing deeper market insights, AI offers investors tools to stay ahead in an increasingly complex financial landscape. While there are risks, these can be managed through a balanced approach that combines human intuition with machine intelligence. As AI technology advances, it’s clear that its influence on the world of investments will only continue to grow, shaping the future of trading for years to come.
Hashtag: #Octa

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

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

SonicWall Unveils TZ80: Empowers Service Providers to Deliver Comprehensive Security, Remote Access and Networking Solutions for Branch Offices and SOHO

More Than a Firewall: SonicWall Introduces Integrated Cybersecurity Platform with TZ80 as the Core of the Market’s Next-Gen SOHO Solution, Featuring: Industry-First Warranties, Cloud Native VPN, Firewall Management and Flexible Pricing


SINGAPORE – Media OutReach Newswire – 11 November 2024 – SonicWall announced today the launch of the TZ80, a groundbreaking security solution designed specifically for branch offices and small office/home office (SOHO) environments. With its comprehensive, cost-effective package of networking, access, and security solutions, the TZ80 is a subscription-based device designed for service providers and value-added resellers (VARs) – and is set to revolutionize the way they deliver cybersecurity.

The SonicWall TZ80 combines performance and price and provides industry leading networking and security capabilities, with advanced threat protection at a low total cost of ownership (TCO), making TZ80 ideal for branch offices with remote workers, SOHO, IoT, and businesses with small form-factor requirements. This best-in-class firewall platform features built-in integration with cloud-native zero trust network access (ZTNA) and VPN as a service (VPNaaS) for hybrid environments and is backed by world-class technical support, available firewall management and network monitoring, and an industry-first cyber threat warranty.

“The TZ80 is more than a firewall; it embodies the future of cybersecurity for managed service providers and their customers,” said SonicWall President and CEO Bob VanKirk. “With this launch, we’re transforming network security by integrating on-premise, hybrid, and cloud technologies into a cohesive solution. Our unified approach enhances security and performance while protecting customer data with modern cloud management and backed by expert services to keep our partners secure in today’s evolving threat landscape.”

MSPs can complement their existing firewall monitoring and network operations center (NOC) to enhance their services with SonicWall’s managed security services, who work behind the scenes as a force multiplier for SonicWall partners. The Managed Protection Services Suite (MPSS) bundle provides management for TZ80 devices, with remote implementation, firmware and vulnerability management, and system health monitoring to help MSPs ensure that their customers employ best practices and stay up-to-date for the highest level of protection in today’s threat landscape.

“We’ve been looking for a solution like the TZ80, and it’s exciting to see SonicWall deliver precisely what we need,” said President/CEO and SonicWall partner Brian A. Reed of Firewalls.com. “This opens up significant opportunities in the SOHO market for us, and the bundled cloud native VPN adds tremendous value, while the pay-as-you-go model makes it even more accessible. Additionally, the MPSS bundle enhances our offering and helps us stay focused on the core of our business, ensuring our clients stay secure.”

“As cybersecurity investment continues to expand across Asia Pacific, the TZ80 is a timely solution designed for the unique needs of SOHO and branch offices,” said Debasish Mukherjee, Vice President of Regional Sales, Asia Pacific Japan at SonicWall. “By integrating an industry-first cyber threat warranty, the TZ80 gives service providers a robust, adaptable platform to stay ahead in today’s evolving cyber threat landscape. This isn’t just a firewall – it’s a complete security solution that empowers our partners to deliver best-in-class protection.”

To further enhance the value proposition, SonicWall will offer industry-first cybersecurity warranties for TZ80 and other SonicWall front-line defense products certified by Cysurance. These warranties will help supplement insurance coverage by providing cash for covering deductibles or other out of pocket expenses before insurance kicks in.

SonicWall will offer warranties for TZ80 and other certified products as follows:

  • $100K for a qualifying firewall
  • $200K for a qualifying managed firewall

Additionally, SonicWall is excited to introduce its latest and new “3 & Free” promotion. This promotion includes cloud native VPN licenses along with a free next-gen firewall. When purchasing a 3-year Advanced Protection Services Suite (APSS) or Essential Protection Services Suite (EPSS) customers get more than just free firewalls – they also gain comprehensive protection from latest cyber threats.

SonicWall remains dedicated to equipping its partners with the tools they need to deliver security outcomes in a rapidly evolving cybersecurity landscape. The TZ80 represent a significant leap forward in delivering scalable, and integrated security solutions via our MSPs for branch offices and SOHO environments.

To learn more about SonicWall’s TZ80, the full offering, new warranties and promotions please visit https://www.sonicwall.com/products/firewalls/soho.

Hashtag: #SonicWall

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

About SonicWall

is a cybersecurity forerunner with more than 30 years of expertise and is recognized as the leading partner-first company. With the ability to build, scale and manage security across the cloud, hybrid and traditional environments in real-time, SonicWall provides seamless protection against the most evasive cyberattacks across endless exposure points for increasingly remote, mobile and cloud-enabled users. With its own threat research center, SonicWall can quickly and economically provide purpose-built security solutions to enable any organization—enterprise, government agencies and SMBs—around the world. For more information, visit or follow us on , , and .

Viet Nam and Middle East countries ready to boost agricultural trade

Prime Minister of Viet Nam Pham Minh Chinh’s visits to three Middle Eastern countries have yielded substantial outcomes, especially in cooperation and boosting agricultural trade.

HA NOI, VIETNAM – Media OutReach Newswire – 9 November 2024 – During Prime Minister Pham Minh Chinh’s visits, Viet Nam and the UAE, Saudi Arabia and Qatar, have reached significant economic, trade and investment cooperation agreements.

These agreements represent a breakthrough in the pillars of cooperation on food, Halal and emerging fields, including the digital economy, green economy and circular economy.

In particular, Viet Nam and the UAE signed a Comprehensive Economic Partnership Agreement (CEPA), with the UAE committing to a gradual tariff reduction on 99 per cent of Vietnamese exports. In return, Viet Nam Nam will gradually remove tariffs on 98.5 per cent of UAE exports.

Once effective, the CEPA will create enhanced export opportunities for Vietnamese agricultural products.

In Saudi Arabia, Viet Nam’s key agricultural exports saw strong growth in the first nine months of 2024. Fruit and vegetable exports reached US$10.9 million, marking a 51.4 per cent increase, while rice exports hit $22.7 million, up by 43.7 per cent, and pepper exports totalled $12.5 million, a 34 per cent increase.

To further expand exports, Viet Nam has requested Saudi Arabia provide market insights, share policies on Halal certification and lift the temporary ban on Vietnamese aquaculture products.

In response, Saudi Arabia plans to send a technical team to Viet Nam to assess the actual food safety control system for the aquaculture production chain soon, to have a basis to lift the entire temporary import suspension.

The Middle Eastern market also has substantial demand for Halal-certified products, especially in agriculture.

Halal-certified products require strict standards, including not using prohibited substances prescribed by Islam in the production process and ensuring that the animals are treated humanely.

Viet Nam currently has around 1,000 businesses certified for Halal, providing a strong basis for deeper engagement in the Halal market and contributing to regional food security.

The Middle East is a vast market with substantial room for growth in economic, trade and investment cooperation in the agricultural sector. This region encompasses 15 countries covering over 6 million square kilometres, with a population nearing 350 million and a GDP in purchasing power parity (PPP) exceeding $6 trillion.

In recent years, Middle Eastern nations have prioritised Viet Nam within their “Look East” policies. This foundation positions the UAE, Saudi Arabia, Qatar and other regional countries alongside Viet Nam to deepen cooperation, harness each other’s strengths, enhance connectivity and support mutual development.
Hashtag: #MARD

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

Ruifeng Wealth Management and INDUK KUD Sign Agreement to Build Palm Oil Mills and Cooking Oil Refinery to Support Indonesia’s National Meal Program


JAKARTA, INDONESIA – Media OutReach Newswire – 9 November 2024 – In a significant move to strengthen Indonesia’s National Free Meals Program, a cornerstone of President-elect Prabowo Subianto’s campaign, Ruifeng Wealth Management Pte Ltd has signed a Memorandum of Agreement (MoA) with INDUK KUD, Indonesia’s largest agriculture cooperative organization, to establish up to five palm oil mills and cooking oil refineries. President Prabowo is also the Chairman of INDUK KUD’s Development Council, has allocated an annual budget of approximately US25.6 billion to combat childhood stunting and malnourished students across Indonesia. The collaborative effort between Ruifeng Wealth Management and INDUK KUD will ensure the production and supply of high-quality cooking oil for the country’s national meal program.

Persons in photo (left to Right) Induk Kud Malaysia Representatives Mr Alvin Tan, Mr Tuan Lee; Ruifeng Wealth Management Honorary Chairman Mr Ng Tse Meng; Induk kud's Chairman Mr Portasius Nggedi; Chief Supervisor Mr Sugiono Djono, Chief Secretary Mr H. Toto Iskander; General Secretary for International Affairs Mr David Wu
Persons in photo (left to Right) Induk Kud Malaysia Representatives Mr Alvin Tan, Mr Tuan Lee; Ruifeng Wealth Management Honorary Chairman Mr Ng Tse Meng; Induk kud’s Chairman Mr Portasius Nggedi; Chief Supervisor Mr Sugiono Djono, Chief Secretary Mr H. Toto Iskander; General Secretary for International Affairs Mr David Wu

The agreement was signed today during a ceremony that also involved CCPIT (China Chamber for Promotion of International Trade) and Farm Fresh Industries Brunei, which have pledged to support the program by donating and constructing up to 5,000 central kitchens and equipment to facilitate meal distribution. This joint initiative will swiftly benefit the national economy by boosting farmers’ incomes and Indonesia’s agricultural, economic, and technological advancements through a partnership between the private sector, government, and INDUK KUD.

Meeting the National Meal Program’s Critical Demand

The National Meal Program is a key initiative by the Indonesian government to battle malnutrition and improve access to quality meals for children in underserved regions. The program aims to provide nutritious and balanced lunches for over 80 million students and pregnant mothers, particularly in rural and low-income areas.

“The National Meal Program is critical to the future of the country’s youth, as it provides not just food, but the essential nutrition that helps students thrive in their education and overall well-being,” said Mr. NG TSE MENG, Honorary Chairman of Ruifeng Wealth Management. “By partnering with INDUK KUD, we can directly address the massive demand of affordable cooking oil, which is a vital component of the meals provided under the program.” Ruifeng Wealth Management, a multi-family office and fund management company based in Singapore, is a front runner in wealth management and sustainable investing, emphasizing ESG principles and responsible investment practices.

Empowering Local Communities through Sustainability

The new palm oil mills and refineries will not only ensure an adequate supply of cooking oil for the National Meal Program, but also promote sustainable and environmentally friendly practices. The facilities will be powered by solar and renewable energy technology, reducing the carbon footprint and contributing to Indonesia’s ongoing push towards sustainable development.

Additionally, the project will uplift local communities by creating new job opportunities, enhancing agricultural infrastructure, and empowering smallholder farmers within the INDUK KUD cooperative network. “This partnership not only strengthens our national food security for the youth but also ensures that we are contributing to the sustainable development of local economies,” said Mr Portasius Nggedi, President of INDUK KUD. “We are focused on improving the livelihoods of our children and communities while helping to fulfil Indonesia’s growing demand for essential food products.”

Long-Term Social Impact

The ultimate goal of the project is to foster long-term, positive social impact by improving nutrition and food security, especially for the nation’s most vulnerable population: its children. The project is seen as a crucial step in expanding Indonesia’s agricultural capabilities, fostering a resilient food supply chain, and ensuring that technological advancements in the sector are accessible to all Indonesians.

“We are incredibly proud to be part of this transformative effort,” said Chairman of Ruifeng Wealth Management. “This initiative will not only help provide meals for millions of children, but will also contribute to the expansion of Indonesia’s agriculture and technology sectors. It’s a comprehensive solution that brings together sustainability, technology, and social good.”

Looking Forward

The construction of the palm oil mills and refineries is targeted to begin in early 2025, with the first facilities expected to come online by 2026. Once operational, the new facilities will produce cooking oil that will fully and directly distributed to the National Meal Program, as well as meet growing market demand across Indonesia. As part of the partnership, solar-powered and renewable energy solutions will be integrated into the mills to ensure environmental sustainability.

The partnership of INDUK KUD with Ruifeng Wealth Management, CPIIT, and Farm Fresh Industries represents a landmark collaboration in Indonesia’s agricultural, food, and energy sectors, and marks a pivotal step toward creating a more sustainable and food-secure future for the nation.
Hashtag: #IndukKUD

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

Blue Chair Film Festival Lights Up Luang Prabang with Southeast Asian Cinema

The Blue Chair Film Festival 2022 (Photo: Blue Chair)

Lao people, like many around the world, enjoy films from various countries, especially those from Asian cinemas, including Thailand, South Korea, and sometimes Hollywood. This trend is reflected in the growing number of cinemas in shopping malls like Vientiane Center and ITECC Mall, offering locals a wider variety of films. 

CGTN: China vows continued efforts to build Asia-Pacific community with shared future


BEIJING, CHINA – Media OutReach Newswire – 8 November 2024 – Since its inception more than three decades ago, the Asia-Pacific Economic Cooperation (APEC) has become a dynamic engine of economic growth and one of Asia Pacific’s most important regional forums. Its 21 member economies represent approximately 62 percent of the world GDP and nearly half of world trade.

As the 2024 APEC gathering will commence soon in Peru, Chinese President Xi Jinping, at the invitation of Peruvian President Dina Ercilia Boluarte Zegarra, will attend the 31st APEC Economic Leaders’ Meeting in Lima and pay a state visit to Peru from November 13 to 17.

China has been actively involved in APEC cooperation in various fields. According to the Chinese Ministry of Commerce, China’s foreign trade with other APEC economies amounted to $3.74 trillion in 2022, representing 59.7 percent of the country’s total import and export value.

“President Xi attending the meeting is an important head-of-state diplomatic event carried out by China towards the Asia-Pacific, which demonstrates the great importance China attaches to Asia-Pacific economic cooperation,” Chinese Foreign Ministry spokesperson Mao Ning said on Friday, at a regular press conference.

The First Hunan (Huaihua) RCEP Economic and Trade Expo opens in Huaihua City, central China's Hunan Province, May 5, 2023. /CFP
The First Hunan (Huaihua) RCEP Economic and Trade Expo opens in Huaihua City, central China’s Hunan Province, May 5, 2023. /CFP

Closer APEC cooperation

Among China’s top 10 trading partners, eight of them are APEC economies. China is the largest trading partner of 13 APEC economies. A total of 15 APEC economies have signed free trade agreements with China.

For decades, China, as a firm supporter and active promoter of Asia-Pacific economic cooperation, has promoted the Regional Comprehensive Economic Partnership (RCEP) agreement to come into force and advanced high-quality Belt and Road cooperation.

In 2023, China’s total imports and exports to the other 14 RCEP members reached 12.6 trillion yuan (about $1.8 trillion), an increase of 5.3 percent compared with 2021 before the RCEP came into effect, according to the Chinese Commerce Ministry.

Through the Belt and Road Initiative (BRI), China has pooled strength for the common development of Asia-Pacific countries.

Scheduled to be inaugurated in November, the Chancay Port, an important infrastructure project in Latin America under the BRI, will transform Peru into a major trade hub in the region, and is expected to produce a broad economic impact, helping open new trade routes and enhance the competitiveness of Latin America as a whole.

“China is ready to work with all parties to inject new impetus into pushing regional economic integration and advancing economic growth in the Asia-Pacific and the world, and work together to build an Asia-Pacific community with a shared future,” Mao said.

Detailing Xi’s state visit to Peru, she said the visit is seen to further deepen practical cooperation in various fields between the two countries and promote China-Peru comprehensive strategic partnership to achieve more positive results.

A view of Qingdao Port in east China's Shandong Province, November 5, 2024. /CFP
A view of Qingdao Port in east China’s Shandong Province, November 5, 2024. /CFP

Building Asia-Pacific community

This year marks the 10th anniversary of the proposal of Xi Jinping Thought on Diplomacy, which consists of 10 principles, including building a community of shared future for mankind to safeguard world peace and promote common development, pursuing peaceful development on the basis of mutual respect and win-win cooperation, and steering reform of the global governance system.

Responding to urgent global needs, Xi has also put forward the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative to call on all parties to work together to address global challenges and promote global common development.

Calling for building an Asia-Pacific community with a shared future, Xi has called on all parties to cultivate, nurture, and foster the blossoming flower of common development of the Asia-Pacific.

Over the past 30 years, the Asia-Pacific has cut its average tariff rate from 17 percent to 5 percent and contributed 70 percent of global economic growth. Per capita income in the region has more than quadrupled, and one billion people have been lifted out of poverty, an important contribution to human progress and global sustainable development.

At the forthcoming APEC meeting, President Xi will elaborate on China’s policies and proposals on promoting Asia-Pacific cooperation, and work with all parties to promote comprehensive and balanced implementation of the Putrajaya Vision 2040, said Mao.

Hashtag: #CGTN

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

TBS Energi Utama to Acquire Singapore’s Integrated Waste Management Services Provider, Sembcorp Environment Pte. Ltd.

  • Acquisition Expands TBS’ Regional Waste Management Platform in Indonesia and Singapore, aligning with its TBS2030 target.
  • TBS is committed to ensuring SembEnviro’s high standards of service.
JAKARTA, INDONESIA – Media OutReach Newswire – 8 November 2024 – PT TBS Energi Utama Tbk. (“TBS”), through its subsidiary, SBT Investment 2 Pte. Ltd. (“SBT Investment”), is pleased to announce the signing of Share Purchase Agreement with Sembcorp Industries Ltd. (“Sembcorp”) to acquire 100% stake in Sembcorp Environment Pte. Ltd. (“SembEnviro”). This strategic transaction builds on TBS’ expansion efforts, following the 2023 acquisitions of Asia Medical Enviro Services Pte Ltd in Singapore and ARAH Environmental group in Indonesia, reinforcing its position in the regional waste management and environmental solutions sector. TBS has an ongoing commitment to transition into green and sustainable business in alignment with TBS2030 target.

SembEnviro, together with its subsidiaries, is an integrated waste management services provider involved in the processing, collection and recycling of industrial, commercial and municipal solid waste. With this acquisition, TBS is moving forward in its vision to establish a regionally integrated waste management platform with presence in Indonesia and Singapore across medical, industrial and domestic waste management, fostering sustainable waste solutions for both cities and industries.

Pandu Sjahrir, Co-CEO of TBS, expressed confidence in the acquisition, stating, “We are pleased to acquire a business from such a reputable organization known for its operational excellence. SembEnviro’s track record in waste management aligns seamlessly with our sustainability objectives. We are fully committed to ensuring that SembEnviro’s high standards of service continue and are strengthened as we integrate our operations.”

Lim Hwee Hua, Director of SBT Investment, echoed this sentiment, adding, “This acquisition marks a significant milestone in expanding our sustainable waste management footprint in Singapore, following TBS acquisition of Asia Medical Enviro Services in 2023. We are committed to building on SembEnviro’s strong foundation and reputation, delivering waste management solutions that adapt to the evolving needs of Singapore’s communities and industries”.

TBS looks forward to working alongside Sembcorp to ensure a smooth transition following the completion of the transaction.

Hashtag: #TBSEnergy #Energy #Corporate

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

About TBS

PT TBS Energi Utama Tbk (IDX: TOBA) is a publicly listed integrated energy company leading the transition in Indonesia’s energy sector through sustainable development. With a diverse business portfolio that includes coal mining and trading, power generation, plantations, electric vehicles, renewable energy, and waste management, TBS is dedicated to reducing its carbon footprint and promoting environmental sustainability from low-carbon growth. Operating across multiple sites in Singapore and Indonesia, including North Sulawesi, Gorontalo, East Kalimantan, Batam, Lampung and Central Java, TBS employs over 2,000 people who are integral to its mission of sustainable growth and innovation. The company’s strategic focus Towards a Better Society 2030 (TBS2030) emphasizes its commitment to achieving carbon neutrality by 2030, in alignment with Indonesia’s Net Zero Carbon 2060 goals. Through continuous innovation and a commitment to responsible growth, TBS aims to create a positive impact on communities and contribute to a greener, more sustainable future.

For more information about our green business journey, visit www.tbsenergi.com