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SGi Signs Landmark Deal with Helitech Asia as Launch Customer for Ten Leonardo AW09 Helicopters at Bali Air Show 2024

BALI, INDONESIA – Media OutReach Newswire – 20 September 2024 – SGi, a leading helicopter service provider in Indonesia, has signed a landmark deal with Helitech Asia, the exclusive distributor for Leonardo Helicopters in Southeast Asia and Korea, for the purchase of ten Leonardo AW09 helicopters. This milestone positions SGi as the nominated launch customer for Leonardo’s AW09 in Indonesia.

SGi Signs Landmark Deal with Helitech Asia at Bali Air Show 2024.
SGi Signs Landmark Deal with Helitech Asia at Bali Air Show 2024.

The acquisition of these state-of-the-art AW09 helicopters will significantly strengthen SGi’s fleet as part of its modernization strategy. Known for their cutting-edge technology, superior performance, and versatility, the AW09 helicopters will support a wide range of missions including passenger transport, medical evacuation, cargo transport, and various utility operations.
Christian Duhain, CEO of Helitech Asia, commented, “We are excited to have SGi as the launch customer in Indonesia. The AW09 is truly a game-changer, and we are eager to see it in action across the region. This order reaffirms the market’s demand for innovative technology in the single-engine helicopter segment, and the AW09 is perfectly suited to meet that demand.”
The signing ceremony took place at Helitech Asia’s booth B15, with key executives from both companies present.
François Lassale, CEO of SGi, added, “Our investment in the AW09 is a testament to our commitment to modernizing our fleet and delivering unparalleled services to our clients. The AW09 helicopters not only enhance operational efficiency but also significantly improve performance, capability, and flexibility— truly a game changer for the services we can offer across Indonesia. Their enhanced efficiency aligns with our sustainability goals and helping us deliver safe, reliable, and environmentally responsible helicopter
services.”

Hashtag: #helitechasia #Sgi #Helicopter #Aviation #helicarrier


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

Helitech Asia

Helitech Asia, the exclusive distributor of Leonardo Helicopters in Southeast Asia and Korea, prides itself on providing exceptional services and support to customers across the region.
Website: www.helitechasia.com

SGi

SGi is a pioneer in helicopter operations in Indonesia, known for its commitment to safety, operational excellence, and customer satisfaction. For over 20 years, SGi has provided high-quality helicopter services throughout the archipelago.
Website: www.sgi-aero.com

Citi Head of Wealth Andy Sieg Returns to Hong Kong

Reinforcing Citi’s Commitment to the Region with Hong Kong as a Nexus


HONG KONG SAR – Media OutReach Newswire – 20 September 2024 – Citi Hong Kong recently welcomed Head of Wealth Andy Sieg back in the city for the third time since last September, underlining Citi’s commitment to investing further to support client-led growth in Hong Kong and across the region. During his visit, Andy attended our first Citi Wealth Strategy Luncheon and connected with clients at the Citi Private Bank Fund Symposium. He also spent time with colleagues while touring Citi’s first Global Wealth Center at K11 ATELIER Victoria Dockside – all of which demonstrate the strategic importance of Hong Kong as a Citi global wealth hub and one of the fastest growing wealth markets in the world.

Andy welcomed guests at the Citi Private Bank Fund Symposium attended by over 200 clients and fund partners. On another occasion, the Citi Wealth Strategy Luncheon, which was hosted for the first time in Hong Kong, brought together the chief executives and senior leaders of Citi’s strategic asset management partners in Asia and Hong Kong where Andy shared the strategic priorities of Citi Wealth. During the luncheon, Andy highlighted the significance of Asia’s Wealth business and Hong Kong as a key growth hub with tremendous growth opportunities. Andy also stressed the importance of further deepening Citi’s strategic collaboration with its key asset management partners, while looking forward to accelerating business growth with our key partners hand-in-hand by delivering tailored wealth solutions that serve client needs and support clients’ wealth creation.

During his visit, Andy also delivered an opening address at a panel discussion co-hosted by Citi and the FinTech Association of Hong Kong – Citi x FTAHK: Unlocking the Future of Digital Wealth: Elevating the Digital Experience with Open Banking – sharing insights on the future of digital wealth and the value of open banking and emerging technologies. Empowered by a well-integrated “high-tech and high-touch” approach that is driven by evolving technologies and client preferences, Citi is in a solid position to capture clients’ growing appetite for personalized wealth solutions that are in line with their unique financial needs and risk profile.

With Hong Kong at the forefront and center of Citi’s global wealth strategy, Andy’s visit has further reinforced Citi’s focus on tapping further growth from an expanding population of affluent, high net worth and ultra-high net worth clients in Hong Kong and the broader Greater China region.

(Photo 1 Caption) Citi Head of Wealth Andy Sieg met with the chief executives and senior leaders of Citi’s key asset management partners in Asia and Hong Kong at Citi Hong Kong’s inaugural Citi Wealth Strategy Luncheon, where he shared Citi Wealth’s strategic priorities and highlighted the importance of strategic collaboration with our key partners.

(Photo 2 Caption) Citi Head of Wealth Andy Sieg spoke at the Citi Private Bank Fund Symposium on his recent, and third, visit to Hong Kong.

(Photo 3 Caption) Citi Head of Wealth Andy Sieg made an opening address at Citi x FTAHK: Unlocking the Future of Digital Wealth: Elevating the Digital Experience with Open Banking, sharing insights on the future of digital wealth and the value of open banking and emerging technologies.

Click HERE to download the high-resolution press photos.

Hashtag: #Citibank

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

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at | X: | LinkedIn: | YouTube: | Facebook:

Symbol of ASEAN Musical Instruments Unveiled at Patuxay Park

Symbol of ASEAN Musical Instruments Unveiled at Patuxay Park
ASEAN capital governors gathered at the iconic Patuxay Monument in Vientiane for the unveiling of the symbol of ASEAN musical instruments (photo credit: Houmphet Manisouk)

Vientiane’s Patuxay Monument hosted a celebration as ASEAN capital governors unveiled a symbol representing ASEAN musical instruments. The event, on 19 September, included a tree-planting ceremony, blending cultural significance with environmental awareness.

Oxyliving Now Offers Free Personalization for Water Purifier Machines – Choose from over 1000 Unique Colours

SINGAPORE – Media OutReach Newswire – 20 September 2024 – Oxyliving is excited to announce a new enhancement for its customers: free customization of its signature water purifier machines with over 1000 color choices. This limited-time offer allows customers to select the perfect shade to match their home décor, providing functionality and style in a single product.

A Perfect Fit for Any Home
Oxyliving’s water purifiers are known for their stylish and sleek design, making them a perfect fit for any living room or kitchen. Whether you prefer a minimalist look or a bold statement piece, Oxyliving has a color that will seamlessly blend with your home’s aesthetic.

Compact and Space-Saving Design
At just 18cm x 27cm x 39cm, Oxyliving’s water purifiers are among the slimmest and most compact in Singapore. The compact size allows them to fit into small spaces and heights, making them an ideal choice for any home, regardless of size.

Eco-Friendly and Efficient
The motorless, tankless design of Oxyliving’s water purifiers makes them quiet, energy-efficient, and environmentally friendly. By eliminating the need for a motor and water tank, these purifiers consume less energy and contribute to a greener environment.

Instant Heating and Cooling
Oxyliving’s water purifiers feature an instant heating and cooling system that allows for a hot cup of coffee or a cold beverage in as short as 5 seconds. This innovative feature ensures that you have the perfect temperature for your drink at any time.

User-Friendly Interface
Designed with user convenience in mind, Oxyliving water purifiers come with an intuitive user interface. Users can easily choose from five preset temperature settings: Ambient, Cold, Milk, Tea, and Hot. This makes it simple to get the right temperature for any beverage with just a touch.

Advanced Four-Stage Filter System
Equipped with a state-of-the-art four-stage filter system, Oxyliving water purifiers ensure the highest quality of alkaline water.

Customize Your Water Purifier with Oxyliving
Take advantage of this free customization offer and personalize your water purifier to fit your style. With over 1000 color options available, you can select the perfect hue to complement your home while benefiting from Oxyliving’s cutting-edge water purification technology

Hashtag: #waterpurifiers #homedecor #design


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

About Oxyliving

Oxyliving is a leading provider of innovative home appliances, dedicated to enhancing the quality of life through advanced technology and stylish design. Our commitment to excellence ensures that our products meet the highest standards of performance and aesthetics.

MoneyHero Group Reports Second Quarter 2024 Results

Second quarter revenue of US$20.7 million, up 24% Year-Over-Year


SINGAPORE – Media OutReach Newswire – 20 September 2024 – MoneyHero Limited (Nasdaq: MNY) (“MoneyHero” or the “Company”), a market leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, today announced financial results for the quarter ended June 30, 2024.

Management Commentary:

Rohith Murthy, Chief Executive Officer, stated “I am pleased to report that MoneyHero Group delivered another strong quarter, with revenue increasing by 24% year-over-year to US$20.7 million. This performance underscores our position as the leading personal finance aggregator in the region. We have achieved significant market share gains, highlighted by a 68% year-over-year surge in revenues in Q2 2024 in Singapore, primarily driven by credit card and insurance product demand. With 970,000 banking and insurance applications facilitated in the first half of 2024, our leadership is evident, and we see substantial opportunities for continued growth in this fragmented industry.

Our strategic focus on operational efficiency is already delivering positive results, with Adjusted EBITDA losses expected to narrow next quarter. We still anticipate achieving Adjusted EBITDA profitability on a monthly basis within Q4 2024, supported by targeted actions to streamline operations, optimize marketing spend, and enhance overall efficiency. Our disciplined approach, which includes our recent headcount reduction and implementation of AI-driven processes, is creating significant operating leverage across the business.

We are transitioning our focus from purely driving traffic growth to prioritizing monetizable traffic that leads to conversions and applications. This strategic shift has already resulted in a 50% increase in approved applications, highlighting our capability to convert higher-value traffic into measurable outcomes while optimizing growth.

We are also rolling out innovative new capabilities, including a redesigned mobile app, a new car insurance vertical, and enhanced UX/UI across our platforms. These initiatives are expected to boost customer engagement and drive higher-margin revenue streams. With a robust membership base of 6.5 million, we are strategically positioned to cross-sell and upsell, unlocking greater value from our existing user base.

Our capital position remains robust, allowing us to pursue strategic investments and explore M&A opportunities to further consolidate our leadership. The recent exit from Malaysia as an operator, while retaining a strategic stake, reflects our commitment to focusing on high-growth regions and forging value-maximizing partnerships.

As we pivot toward driving Adjusted EBITDA improvements, our focus on efficiency and higher-margin products such as personal loans, insurance, and advertising revenue, will be critical drivers of profitability. While we have faced challenges in certain markets, we have taken corrective actions and anticipate a return to strong growth. We estimate that MoneyHero will achieve positive Adjusted EBITDA in the fourth quarter of 2024, positioning us to deliver sustainable, long-term value for our shareholders.”

Hao Qian, Chief Financial Officer, added: “In Q2 2024, MoneyHero’s strategic expansion generated solid growth in approved applications, which resulted in 24% year-over-year revenue growth, reaching over US$20.7 million. We’ve made strong market share gains, particularly in our core markets, as we continue to expand across Greater Southeast Asia. However, our investments in strategically expanding customer acquisition, brand building, technology re-platforming, and data infrastructure contributed to a loss of US$(12.2) million and an Adjusted EBITDA loss of US$(9.3) million for the quarter. During the second quarter, we remained committed to executing our growth strategy, with a goal to accelerate key verticals and further extend our market share leadership. The primary drivers behind the increase in our operating and Adjusted EBITDA losses include:

  • Strategic Investments: We prioritized growth through increased investments in branding, customer acquisition, data and technology, aimed at capturing new customers and building infrastructure for future profitability
  • Provider Constraints: In Q2, several providers in Taiwan and the Philippines paused new card acquisitions due to significant platform migrations, which temporarily impacted our financial performance. We expect acquisition volumes to normalize in Q3 as these migrations near completion. Additionally, the exit of a key provider from several of our markets had a notable effect on both revenue and profitability. To offset this, we’ve invested in expanding other providers’ products and diversified into new verticals. We anticipate that the revenue and profitability impact from this provider’s exit will be largely mitigated by Q3 and Q4, with minimal effect anticipated moving forward.
  • Increased Operating Costs: Total operating costs rose year-over-year, largely due to additional expenses associated with being a public company, including audit fees, D&O insurance, and IR/PR-related fees.

Looking ahead, we expect a narrowing of our Adjusted EBITDA loss in the second half of 2024, with margins having started to recover in early Q3 and continuing to improve throughout the year. We have initiated a comprehensive review of our organizational structure, which began with our recent reorganization announcement, and we expect it to be completed by the end of Q3. This will create a more streamlined and cost-efficient operation. We expect to reach Adjusted EBITDA profitability on a monthly basis by year end, as we have been focusing on efficiency and optimizing the returns on our growth investments.”

Second Quarter 2024 Financial Highlights

  • Revenue increased by 24% year-over-year to US$20.7 million in the second quarter of 2024
    • Online financial comparison platforms revenue increased by 26% year-over-year to US$17.8 million
    • Creatory, MoneyHero’s B2B business, revenue increased by 13% year-over-year, contributing 14% of Group revenue in the second quarter of 2024, as compared to 16% in the prior year period
  • Revenue by markets:
    • Singapore revenue increased by 68% year-over-year to US$9.0 million in the second quarter, with the strongest growth coming from the credit card and insurance verticals
    • Hong Kong revenue increased by 19% year-over-year to US$7.3 million in the second quarter, with the strongest growth coming from the other banking verticals
    • Philippines revenue decreased by 16% year-over-year to US$2.9 million in the second quarter, largely due to reduced volumes with a key client as it completes system and database migration post-acquisition
    • Taiwan revenue decreased by 4% year-over-year to US$1.4 million in the second quarter due to paused product offerings for certain key clients
  • Revenue from insurance products increased by 89% year-over-year to US$2.2 million in the second quarter of 2024, contributing 11% of Group revenue, as compared to 7% in the prior year period
  • Total operating costs and expenses increased to US$34.4 million in the second quarter of 2024 from US$25.5 million in the prior year period, driven primarily by increased investment in marketing and customer acquisition as part of the Company’s strategy to expand market share and increase brand awareness
  • Loss for the period decreased to US$(12.2) million in the second quarter of 2024 from US$(68.6) million in the prior year period
  • Adjusted EBITDA loss increased to US$(9.3) million in the second quarter of 2024 from US$(0.6) million in the prior year period
  • As of June 30, 2024, the Company had a debt-free balance sheet with US$56.5 million in cash and cash equivalents


Second Quarter 2024 Operational Highlights

  • Monthly Unique Users decreased by 17% year-over-year to 7.7 million in the second quarter of 2024
  • MoneyHero Group Members, to whom we can provide more tailored product information and recommendations, grew by 53% year-over-year to 6.5 million as of June 30, 2024 due to membership growth across all markets
  • Approved Application volumes increased by 50% year-over-year in the second quarter to 211,000, driven by strong growth in the Company’s credit card and insurance products


Business Outlook

  • For the third quarter of 2024, the Company expects its Adjusted EBITDA losses to narrow and be between US$5-6 million. This expectation reflects the Company’s current and preliminary view on the market and operational conditions, which is subject to change.


Capital Structure

The table below summarizes the capital structure of the Company as of June 30, 2024:

Share Class Issued and Outstanding
Class A Ordinary 28,227,579[1]
Class B Ordinary 13,254,838
Preference Shares 2,407,575
Total Issued Shares 43,889,992
Employee Equity Options 1,020,697[2]
Issued Class A Ordinary Shares Underlying Employee Equity Options (521,630)[3]
Total Issued and Issuable Shares[4] 44,389,059

Summary of financial / KPI performance For the Three Months Ended June 30, For the Six Months Ended June 30,
2024 2023 2024 2023
(US$ in thousands, unless otherwise noted)
Revenue 20,674 16,650 42,849 34,553
Adjusted EBITDA (9,336) (593) (15,775) (892)
Clicks (in thousands) 2,274 1,993 4,568 3,877
Applications (in thousands) 476 409 970 784
Approved Applications (in thousands) 211 140 416 260

Revenue breakdown For the Three Months Ended

June 30,

For the Six Months Ended

June 30,

2024 2023 2024 2023
US$ % US$ % US$ % US$ %
(US$ in thousands, except for percentages)
By Geographical Market:
Singapore 9,018 43.6 5,380 32.3 17,963 41.9 10,939 31.7
Hong Kong 7,266 35.1 6,095 36.6 14,982 35.0 11,736 34.0
Taiwan 1,424 6.9 1,481 8.9 2,826 6.6 3,805 11.0
Philippines 2,938 14.2 3,496 21.0 6,917 16.1 7,627 22.1
Malaysia 28 0.1 197 1.2 161 0.4 445 1.3
Total Revenue 20,674 100.0 16,650 100.0 42,849 100.0 34,553 100.0
By Source:
Online financial comparison platforms 17,760 85.9 14,077 84.5 35,818 83.6 28,911 83.7
Creatory 2,914 14.1 2,574 15.5 7,030 16.4 5,642 16.3
Total Revenue 20,674 100.0 16,650 100.0 42,849 100.0 34,553 100.0
By Vertical:
Credit cards 12,734 61.6 11,945 71.7 28,159 65.7 25,023 72.4
Personal loans and mortgages 2,577 12.5 2,154 12.9 5,874 13.7 4,491 13.0
Insurance 2,178 10.5 1,154 6.9 4,005 9.3 2,421 7.0
Other verticals 3,185 15.4 1,396 8.4 4,810 11.2 2,618 7.6
Total Revenue 20,674 100.0 16,650 100.0 42,849 100.0 34,553 100.0

For the Three Months Ended June 30, For the Six Months Ended June 30,
2024 2023 2024 2023
(in millions, except for percentage)
Monthly Unique Users
Singapore 1.3 16.9% 1.7 18.6% 1.4 17.1% 1.8 19.3%
Hong Kong 1.1 14.4% 1.5 15.6% 1.1 13.9% 1.5 16.6%
Taiwan 2.2 28.5% 2.7 29.2% 2.1 26.2% 2.5 28.1%
The Philippines 3.0 38.5% 3.2 33.9% 3.3 40.8% 3.0 32.7%
Malaysia 0.1 1.7% 0.3 2.7% 0.2 2.1% 0.3 3.2%
Total 7.7 100.0% 9.3 100.0% 8.1 100.0% 9.1 100.0%
Total Traffic
Singapore 3.8 13.0% 4.3 12.4% 7.8 12.6% 8.0 12.1%
Hong Kong 4.9 16.8% 6.1 17.8% 9.9 16.0% 12.7 19.2%
Taiwan 8.7 29.7% 11.1 32.0% 16.8 27.1% 20.7 31.3%
The Philippines 11.4 38.9% 12.1 35.1% 26.2 42.2% 22.6 34.2%
Malaysia 0.5 1.7% 0.9 2.7% 1.2 2.0% 2.1 3.2%
Total 29.4 100.0% 34.6 100.0% 62.1 100.0% 66.0 100.0%
MoneyHero Group Members[5]
Singapore 1.3 20.2% 1.0 24.0% 1.3 20.2% 1.0 24.0%
Hong Kong 0.8 12.2% 0.5 12.1% 0.8 12.2% 0.5 12.1%
Taiwan 0.3 4.7% 0.2 5.4% 0.3 4.7% 0.2 5.4%
The Philippines 3.8 58.3% 2.3 53.5% 3.8 58.3% 2.3 53.5%
Malaysia 0.3 4.5% 0.2 5.0% 0.3 4.5% 0.2 5.0%
Total 6.5 100.0% 4.3 100.0% 6.5 100.0% 4.3 100.0%


Conference Call Details
The Company will host a conference call and webcast on Thursday, September 19 2024, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company’s financial results. The MoneyHero Limited (NASDAQ: MNY) Q2 2024 Earnings call can be accessed by registering at:

Webcast: https://edge.media-server.com/mmc/p/bb5mvvro/

Conference call: https://register.vevent.com/register/BI804ba1fd51b0491182b7ed7fccf35400

The webcast replay will be available on the Investor Relations website for 12 months following the event.


[1] Includes 521,630 shares issued to Computershare Hong Kong Investor Services Limited (“Computershare“) which are held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.

[2] Includes granted but unexercised options as well as exercised options, pursuant to which the shares have not yet been issued as of June 30, 2024.

[3] Issued in advance to Computershare and held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.

[4] Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of money.

[5] MoneyHero Group Members as of June 30, 2024 and June 30, 2023.

Key Performance Metrics and Non-IFRS Financial Measures
“Monthly Unique User” means as a unique user with at least one session in a given month as determined by a unique device identifier from Google Analytics. A session initiates when a user either opens an app in the foreground or views a page or screen and no session is currently active (e.g., the user’s previous session has ended). A session ends after 30 minutes of user inactivity. We measure Monthly Unique Users during a time period longer than one month by averaging the Monthly Unique Users of each month within that period.

“Traffic” means the total number of unique sessions in Google Analytics. A unique session is a group of user interactions recorded when a user visits the website or app within a 30-minute window. The current session ends when there is 30 minutes of inactivity or users have a change in traffic source.

“MoneyHero Group Members” means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated.

“Clicks” means the sum of unique clicks by product vertical on a tagged “Apply Now” button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates.

“Applications” means the total number of product applications submitted by users and confirmed by our commercial partners.

“Approved Applications” means the number of applications that have been approved and confirmed by our commercial partners.

In addition to MoneyHero Group’s results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as loss for the year/period and loss before income tax.

Adjusted EBITDA is a non-IFRS financial measure defined as loss for the year/period plus depreciation and amortization, interest income, finance costs, income tax expenses/(credit), equity-settled share option expense, transaction expenses, impairment of non-financial assets, other long-term employee benefits credit, other non-recurring costs related to strategic transaction, changes in fair value of financial instruments, non-recurring legal fees, and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue.

A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP.

For the Three Months Ended
June 30,
For the Six Months Ended
June 30,
2024 2023 2024 2023
(US$ in thousands)
Loss for the period (12,223) (68,571) (25,323) (71,101)
Tax expenses 5 24 57 34
Depreciation and amortization 1,066 1,255 2,047 2,400
Interest income (356) (98) (951) (126)
Finance costs 5 1,803 13 3,569
EBITDA (11,501) (65,587) (24,156) (65,224)
Non-cash items:
Changes in fair value of financial instruments (1,109) 58,038 237 57,937
Impairment of non-financial assets 92 92
Equity settled share-based payment arising from employee share option scheme 1,015 268 1,638 795
Unrealized foreign exchange differences, net 1,766 3,216 5,802 2,070
Listing and other non-recurring strategic exercises related items:
Transaction expenses 20 3,556 55 3,613
Other non-recurring costs related to strategic transaction 61 61 1
Other non-recurring items:
Other long-term employee benefits credit (84) (84)
Non-recurring legal fees 323 497
Adjusted EBITDA (9,336) (593) (15,775) (892)
Revenue 20,674 16,650 42,849 34,553
Adjusted EBITDA (9,336) (593) (15,775) (892)
Adjusted EBITDA Margin (45.2)% (3.6)% (36.8)% (2.6)%

Forward Looking Statements
This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

Unaudited Consolidated Statements of Profit or Loss and Other Comprehensive (Loss)/Income

For the Three Months Ended
June 30,
For the Six Months Ended
June 30,
2024 2023 2024 2023
(US$ in thousands except for loss per share)
Revenue 20,674 16,650 42,849 34,553
Cost and expenses:
Cost of revenue (13,795) (7,178) (27,901) (15,655)
Advertising and marketing expenses (6,581) (3,925) (12,714) (7,488)
Technology costs (2,194) (1,722) (4,046) (3,256)
Employee benefit expenses (6,712) (4,474) (12,590) (9,559)
General, administrative and other operating expenses (3,222) (4,867) (5,609) (6,116)
Foreign exchange differences, net (1,848) (3,291) (5,959) (2,170)
Operating loss (13,679) (8,808) (25,970) (9,691)
Other income/(expenses):
Other income 357 102 954 130
Finance costs (5) (1,803) (13) (3,569)
Changes in fair value of financial instruments 1,109 (58,038) (237) (57,937)
Loss before tax (12,217) (68,548) (25,265) (71,067)
Income tax expense (5) (24) (57) (34)
Loss for the period (12,223) (68,571) (25,323) (71,101)
Other comprehensive income
Other comprehensive income that may be classified to profit or loss in subsequent periods (net of tax):
Exchange differences on translation of foreign operations 1,279 2,677 4,992 1,673
Other comprehensive loss that will not be reclassified to profit or loss in subsequent periods (net of tax):
Remeasurement of defined benefit plan (6) (35) (5) (35)
Other comprehensive income, net of tax 1,273 2,643 4,987 1,638
Total comprehensive loss, net of tax (10,950) (65,928) (20,336) (69,463)
Loss per share attributable to ordinary equity holders of the parent
Basic and diluted (0.3) (47.3) (0.6) (49.1)


Unaudited Consolidated Statements of Financial Position

As of
June 30,
As of
December 31,
(US$ in thousands) 2024 2023
NON-CURRENT ASSETS
Other intangible assets 6,177 7,294
Property and equipment 337 190
Right-of-use assets 338 590
Deposits 24 26
Total non-current assets 6,877 8,100
CURRENT ASSETS
Accounts receivable 16,968 17,236
Contract assets 12,521 16,025
Prepayments, deposits and other receivables 5,199 4,855
Pledged bank deposits 182 189
Cash and cash equivalents 56,497 68,641
Total current assets 91,367 106,947
CURRENT LIABILITIES
Accounts payable 25,267 23,840
Other payables and accruals 9,856 9,382
Warrant liabilities 2,076 1,840
Lease liabilities 347 575
Provisions 71 72
Total current liabilities 37,617 35,708
NET CURRENT ASSETS 53,750 71,239
TOTAL ASSETS LESS CURRENT LIABILITIES 60,627 79,339
NON-CURRENT LIABILITIES
Lease liabilities 5 31
Deferred tax liabilities 26 29
Provisions 210 194
Total non-current liabilities 241 255
Net assets 60,386 79,084
EQUITY
Issued capital 4 4
Reserves 60,382 79,080
Total equity 60,386 79,084

Hashtag: #MoneyHeroGroup

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

MoneyHero Group

(NASDAQ: ) is a market leader in the online personal finance and digital insurance aggregation and comparison sector in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero currently manages 279 commercial partner relationships and services 8.1 million Monthly Unique Users across its platform for the six months ended June 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit .

In Vietnam, Vingroup Plants the Seeds of a Social Enterprise Ecosystem

Vingroup, a leading Vietnamese conglomerate, is redefining the role of business in society. Through a diverse portfolio and a deep commitment to social responsibility, they are actively cultivating an ecosystem that fosters positive social impact.


HANOI, VIETNAM – Media OutReach Newswire – 20 September 2024 – In the wake of Typhoon Yagi’s devastating impact, Vingroup, a leading Vietnamese conglomerate with a diverse portfolio spanning real estate, technology, and social enterprise, swiftly pledged a substantial donation of 250 billion VND (approximately $10.6 million USD) towards relief efforts. This act of generosity, the largest corporate contribution to date, reflects a long history of
philanthropy.

Thien Tam Charity Fund (Vingroup) supports the construction of the
Thien Tam Charity Fund (Vingroup) supports the construction of the “Dream School” in Abaanh 1 Village, Tr’hy Commune, Tay Giang District, Quang Nam.

Vingroup’s and its leadership’s commitment to social responsibility, however, extends far beyond disaster relief. It’s woven into the very fabric of their corporate identity. One of their three core operating areas is dedicated entirely to social enterprise, a testament to their belief that business success and societal progress are intrinsically linked.

One manifestation of this commitment is the Kind Heart Foundation, established in 2006. Through this foundation, Vingroup has spearheaded numerous initiatives aimed at improving the lives of disadvantaged communities across Vietnam. From establishing the Promotion Fund for Vietnamese Football Talent (PVF) to creating centers for the elderly and orphans, and providing scholarships and essential medical care, the foundation embodies the philosophy that “charity is not just giving, but creating change.”

Furthermore, Vingroup’s leadership demonstrates its commitment to global progress through the VinFuture Foundation, which was co-founded by Vingroup’s Chairman Pham Nhat Vuong and his wife. With an annual commitment of $4.5 million USD in awards, the foundation recognizes groundbreaking research and innovations across various fields like Artificial Intelligence, Renewable Energy, and Biotechnology, which have the potential to transform lives and create a more sustainable future.

Recognizing the urgent need for environmental action, Vingroup launched the For a Green Future Foundation in 2023. Funded in part through innovative initiatives like the Xanh SM campaign, the foundation supports key programs promoting sustainability across various sectors, from developing renewable energy infrastructure and promoting sustainable agriculture, to advancing environmental education and research.

Even Vingroup’s ventures in healthcare and education, through Vinmec and Vinschool respectively, operate on a non-profit basis, prioritizing accessibility and quality for the community over profit margins. Vinmec hospitals offer state-of-the-art medical care at affordable rates, while Vinschool provides a world-class education system with a focus on character development and community service.

This unwavering dedication to social enterprise has earned Vingroup respect and admiration within Vietnam and has also paved the way for its global expansion. Their forays into international markets, particularly in the Middle East with their electric vehicle brand, VinFast, exemplify how they aim to fulfill their broader mission of creating a better and greener future for everyone, not just the people of Vietnam.

When asked about his vision for Vingroup’s future, Pham Nhat Vuong stated, “I envision Vingroup as a globally recognized technology and industrial conglomerate. Our commercial services and philanthropic efforts in Vietnam will be cherished and highly regarded by the Vietnamese people. I hope that in the future, people will think of Vingroup as a company always striving for the good, for the community.”

Vingroup’s story is a powerful reminder that businesses can be a force for good, driving innovation and progress while also uplifting communities and championing sustainability. Their legacy is one of not just commercial success, but also of compassion, ethical practices, and a deep-rooted commitment to creating a better world for all.

Hashtag: #VinFast #Vingroup #EV

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

Trade in for a greener tomorrow: Sell old phones to Carousell when upgrading to the iPhone 16

Carousell makes it easier to sell old phones or trade in for the new iPhone 16, encouraging more to reduce e-waste.


SINGAPORE – Media OutReach Newswire – 20 September 2024 – In the lead up to the highly-awaited iPhone 16 launch, leading multi-category classifieds marketplace Carousell has launched a new trade-in programme to offer customers a seamless way to trade in and give their old phones a second life. Partnering with major electronics retailers, customers can exchange their old phones immediately upon purchase and offset the purchase price to get the new iPhone 16 for as low as S$523.

Trade in or sell your mobile phones conveniently via sellto.carousell.sg

Fuss-free, secure way to sell used phones or trade in iPhones

Simply visit sellto.carousell.sg to fill in a short survey about the device condition to get an indicative price quote and compare trade-in promotions for selling old phones or trading in old iPhones. Promotions vary across the major electronics retailers — iStudio, Challenger, Courts, Best Denki, Gain City — that Carousell is partnering with. Consumers can choose to visit their nearest store to sell phones from over 100 locations or schedule a doorstep appointment to complete the effortless process.

Consumers can also opt to sell used phones, including used iPhones, instead of trading in for cash, encouraging more people to consider selling their phones instead of leaving them dormant at home. Additionally, each device goes through a secure data erasure process that is certified by Singapore’s Cyber Security Agency.

Popularity of selling old iPhones

iPhone regularly remains the top three keyword searches on Carousell, and there is a spike in searches for specific older models in the lead up to new launches. Searches for the top 3 most popular phone models — iPhone 15 Pro Max, iPhone 14 Pro Max and iPhone 14 Pro — more than doubled in September last year. Popular phones sold or traded in through sellto.carousell.sg also peaked correspondingly between September to October last year, with top 3 most popular phones sold being iPhone 14 Pro Max, iPhone 13 Pro Max and iPhone 12.

Carousell has been aligning marketing campaigns with hotly-anticipated phone launches to shift consumer mindset towards more conscious shopping choices, such as selling current devices, including used iPhones, before upgrading and considering purchasing older generations that are still in good condition. This is in addition to continually enhancing programmes and features such as Carousell Certified Mobile to make it more trusted and convenient to buy and sell secondhand phones.

Sell old phone or trade in for the new iPhone 16 with Carousell’s trade-in program. Visit sellto.carousell.sg for a fuss-free, secure process and reduce e-waste today.

Hashtag: #carousell #trade-in #iphone #usedelectronics


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

About Carousell

Carousell is a multi-category classifieds and recommerce marketplace that makes selling as easy as taking a photo, buying as simple as chatting. Carousell is available in Singapore, Hong Kong, Indonesia, Malaysia, the Philippines and Taiwan. The Carousell marketplace has a diverse range of products across a variety of categories, including cars, lifestyle, gadgets and fashion accessories. To increase the trust and convenience in buying and selling secondhand, Carousell has launched recommerce programmes such as the Carousell Certified programme that allows users to buy secondhand items that have been inspected, and Sell to Carousell programme that allows users to sell directly to Carousell for instant cash.

Alibaba Cloud Empowers Customers and Partners with its Proven Large Models and High-Performance Infrastructure

Global Cloud Leader Collaborates with NVIDIA, XPENG, miHoYo, Atlas, Codium, UNESCO-ICHEI to Drive the Future of Mobility, Gaming, Travel, IT and Education


HANGZHOU, CHINA – Media OutReach Newswire – 20 September 2024 – Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, today announced at its annual flagship event Apsara Conference that its proprietary foundational model Tongyi has attracted over 300,000 customers via its generative AI platform, Model Studio, a significant jump from 90,000 revealed in May.

Leveraging Alibaba Cloud’s Tongyi large models and its scalable global cloud infrastructure, businesses across automobile, gaming, travel, IT sectors have delivered enhanced customer experience and developed innovative solutions. Alibaba Cloud also unveiled a partnership with the International Centre for Higher Education Innovation under the auspices of UNESCO (UNESCO-ICHEI) to bring the benefits of generative AI to higher education institutes through digital training initiatives.

“Our collaborations with industry-leading organizations demonstrate our dedication to delivering enhanced customer experiences and boosting enterprise efficiency through innovative solutions. Together with our partners, we want to empower more businesses and individuals to unlock the potential of generative AI through digital training and accessible cloud solutions,” said Jingren Zhou, CTO of Alibaba Cloud.

Driving the Future of Mobility and Smart Cockpits with LLMs Built on NVIDIA

Alibaba Cloud today unveiled its large multimodal model (LMM) solution designed for automotive applications and co-developed with NVIDIA and Banma, Alibaba’s intelligent cockpit solution provider. This solution, which will be made available to China-based automakers, aims to deliver a more interactive experience for car owners and redefine the smart mobility journey.

Through this collaboration, Alibaba Cloud’s portfolio of proprietary large language model Qwen—including the Qwen2-7B language model and the Qwen2-VL vision language model—have been seamlessly integrated with the NVIDIA DRIVE AGX Orin™ platform for autonomous vehicles. Additionally, NVIDIA’s model acceleration technology has significantly reduced computational costs and minimized latency in Alibaba Cloud models’ real-time processing of complex tasks. This ensures a smooth and uninterrupted intelligent experience for both drivers and passengers.

This initiative marks the first integration of Alibaba’s large models into NVIDIA’s automotive platform. Leveraging Qwen’s advanced capabilities in handling complex inquiries and processing visual intelligence, in-car voice assistants will be able to engage in dynamic, multi-turn conversations and even offer recommendations, ranging from providing information about nearby landmarks to proactively suggesting car headlights be turned on during snowy conditions.

As part of the LMM solution, Alibaba Cloud’s Mobile Agent—a multimodal AI agent for edge devices—will expand the capabilities of in-car voice assistants. Utilizing the Mobile Agent’s strengths in complex task planning, self-reflection, and decision-making, users will be able to effortlessly execute voice commands, such as ordering milkshakes through a food delivery app, resulting in richer and more enjoyable in-car experiences.

Looking ahead, Alibaba Cloud plans to work with NVIDIA to adapt Qwen models on NVIDIA DRIVE Thor, NVIDIA’s next-generation centralized car compute platform that combines advanced driver assistance, autonomous driving, and AI cockpit capabilities into a single safe and secure system.

Partnering with XPENG to Enhance Smart Cockpit Experience

XPENG, a leading Chinese smart electric vehicle company, is leveraging Alibaba Cloud’s AI models and robust cloud computing capabilities to redefine its smart cockpit and autonomous driving experience.

It has tapped into Alibaba Cloud’s Qwen to enhance its AI voice assistant, Xiao P, for a more superior smart cockpit experience. With no specific instructions needed, the LLM-enabled voice assistant excels at understanding complex conversational contexts and user intentions. It can engage in natural and intuitive dialogues with both drivers and passengers. For instance, when a user simply states, “It’s cold inside the car,” the voice assistant automatically adjusts the vehicle’s temperature.

In addition to utilizing Qwen for the smart cockpit, XPENG is collaborating with Alibaba Cloud to integrate large models for various innovations. Users can design custom stickers for their car’s exterior through Alibaba Cloud’s text-to-image model, Tongyi Wanxiang, within XPENG’s mobile app. XPENG is also exploring the use of Alibaba Cloud’s Tongyi Lingma, an AI coding assistant powered by Qwen, to enhance R&D efficiency in the latest automotive technologies.

Alibaba Cloud also offers robust and resilient computing resources to help XPENG accelerate its training of large model for autonomous driving.

Powering Immersive and Scalable Gaming Experience for miHoYo

As a long-term partner, Alibaba Cloud has provided its cloud infrastructure support for miHoYo in launching its latest game Zenless Zone Zero, a new urban fantasy action role-playing game (ARPG) which received nearly 50 million pre-beta registrations, posting high demands on system stability and smooth access to the games’ reservation website.

With Alibaba Cloud’s infrastructure and comprehensive product suite, Zenless Zone Zero has successfully addressed challenges in high server load, large volume of game data processing, and strong demand on platform stability, providing a smooth experience for players who logged in simultaneously on the day of its grand launch on July 4. The game has reached 50 million downloads within the first week since launched.

Building A Strong Digital Foundation for Southeast Asia

Atlas, an innovative B2B travel technology provider in Singapore, has leveraged Alibaba Cloud’s infrastructure, machine learning and AI architecture innovations to serve over 50 global travel sellers and 150 low-cost airlines around the world. Alibaba Cloud’s LLM Qwen and Model Studio platform also support Atlas’ digital chatbot, providing customer support around the clock, addressing partner inquiries regarding booking procedures and payment options.

Since collaborating with Alibaba Cloud in 2021, Atlas has reduced operational expenses by 45%. Alibaba Cloud has aided Atlas in transitioning from a startup in Singapore to becoming one of the leading industry players, revolutionizing the low-cost flight industry with its innovative travel platform.

Additionally, Codium, a prominent software company in Thailand specializing in digital workplace solutions, has partnered with Alibaba Cloud to utilize its scalable cloud infrastructure and reliable solutions. The partnership aims to establish a strong digital foundation for businesses in Thailand and improve the Thai cloud market ecosystem by offering accessible cloud services and providing comprehensive local support and expertise to Thai clients.

Empowering the Future of Education with UNESCO

During Apsara Conference 2024, Alibaba Cloud signed a Memorandum of Understanding (MoU) agreement with UNESCO-ICHEI to launch the GenAI and Cloud Micro-Certification online program for global learners.

The program targets educators and students in higher education institutes including universities and colleges across Asia and Africa. The program, featuring 6 courses, is designed to deliver the fundamental knowledge and applications of generative AI and cloud computing technologies with easily understandable graphics and best practices of integrating generative AI into teaching activities to make learning more engaging, personalized, and efficient.

After completing each course session, educators and students can take an exam to obtain a micro certification jointly issued by both UNESCO-ICHEI and Alibaba Cloud. With the gradual rollout of the program, the initiative aims to benefit around 12,000 educators and students globally by the end of 2025.

Hashtag: #AlibabaCloud

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

About Alibaba Cloud

Established in 2009, Alibaba Cloud () is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, big data analytics, machine learning and artificial intelligence (AI) services. Alibaba has been named the leading IaaS provider in Asia Pacific by revenue in U.S. dollars since 2018, according to Gartner. It has also maintained its position as one of the world’s leading public cloud IaaS service providers since 2018, according to IDC.