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Global broker Octa ponders on upcoming U.S. election and its potential market impact


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 29 August 2024 – As the U.S. presidential elections approach, global financial markets brace for potential turbulence. Global broker Octa looks at the historical correlation between U.S. elections and stocks, gold, and the U.S. dollar.

Octa

Economy

The relationship between the party affiliations of the U.S. presidents and economic growth has been a topic of extensive research and debate. Historically, some studies have suggested a correlation between the party in power and economic performance. For instance, data from the post-World War II era often shows that the U.S. economy has grown faster under Democratic presidents than Republican presidents. However, this correlation does not necessarily imply causation.

Kar Yong Ang, the Octa analyst, said: ‘Economic growth is a function of numerous variables, including global economic conditions, technological advancements, fiscal and monetary policies, and unforeseen events like natural disasters or pandemics. Therefore, attributing economic performance solely to the president’s party affiliation can be overly simplistic and potentially misleading.’

Indeed, the legislative branch also plays a crucial role in shaping economic policy. A president’s ability to implement their economic agenda often depends on the composition of Congress. For example, a president facing a divided government may struggle to pass significant economic reforms, regardless of party affiliation.

Still, there is widespread belief that Democratic administrations tend to focus more on fiscal stimulus and social welfare programs, which can boost consumer spending and economic growth in the short term. On the other hand, Republican administrations often emphasise tax cuts and deregulation, which can stimulate business investment and long-term economic growth.
At the same time, both bad and good events happen, regardless of who is in the White House. ‘Quite frankly, sometimes it’s just pure luck that defines Presidents’ track record on the economy. For example, Obama entered the White House when the U.S. economy was just about to start recovering following the great financial crisis of 2007–2008, whereas Trump may be said to be less fortunate as he faced the unprecedented Covid crisis during the final year of his presidency’, says Kar Yong Ang, Octa’s analyst. Overall, judging by historical macro indicators, there is no definite conclusion to make about which President is better for the economy.

U.S.Stocks
The U.S. stocks tend to experience increased volatility in the months leading up to an election. This is largely due to the uncertainty surrounding potential policy changes that could affect international trade, economic growth, and geopolitical stability. Therefore, market participants often engage in ‘wait-and-see’ behaviour, holding off on major investment decisions until the election outcome is clear. Historically, the stock market tends to perform better in the year following an election, particularly if the incumbent party wins, as this suggests policy continuity.

While elections can certainly stir immediate reactions, historical data reveals that their long-term impact on financial markets tends to be limited. Market performance over the medium to long term is more often influenced by broader economic parameters like inflation trends rather than who wins the election.

Historically, sectors like healthcare, energy, technology, and finance react differently to election results due to their sensitivity to legislative changes. The 2016 U.S. election serves as a notable example of markets reacting strongly to the election results, anticipating tax cuts and regulatory reforms that boosted market sentiment.

U.S. Dollar

Both domestic and international perceptions of the candidates’ economic policies influence the U.S. dollar’s performance during the election years. A candidate perceived as fiscally conservative might strengthen the dollar due to expectations of reduced government spending and lower inflation. Conversely, a candidate favouring expansive fiscal policies could lead to a weaker dollar due to concerns over increased debt.

Trade policies are another crucial factor. A candidate with a protectionist stance might introduce tariffs or renegotiate trade deals, which can affect the dollar’s value. Protectionist policies can lead to a stronger dollar in the short term due to reduced imports, but they might also result in retaliatory measures from trade partners, which could weaken the dollar in the long run.

Geopolitical stability and foreign relations are additional aspects that can affect the dollar during the election periods. A candidate perceived as more stable and predictable in foreign policy might boost the investors’ confidence, leading to a stronger dollar. On the other hand, a candidate whose policies are seen as potentially destabilizing could lead to a weaker dollar as investors seek alternative assets.

Over the past 20 years, the U.S. Dollar Index (DXY) has performed better under Democratic Presidents and had negative returns under Republican leadership. However, as with the U.S. stock indices, it’s crucial not to oversimplify this trend. The U.S. dollar is a global reserve currency influenced by a myriad of factors beyond just presidential policies.

Gold

Gold, considered a safe-haven asset, typically sees increased demand during election periods marked by uncertainty. Historical data indicates that on a micro level, gold prices tend to rise in the months leading up to an election and may continue to do so if the election results are contested or lead to significant policy shifts. However, Kar Yong Ang, an Octa analyst, notes: ‘If we look at the bigger picture, we see that gold price just generally tends to increase in the long-term and the ideological stance of an incumbent U.S. President has very little or no impact on its performance’. Indeed, the value of gold almost doubled during President Obama’s first term in office but experienced a 30% decline during his second term.

According to a study by the World Gold Council (WGC), gold typically performs slightly better in the six months leading up to a Republican president’s election and stays flat afterwards. On the other hand, it tends to underperform before a Democratic president’s election and performs just below its long-term average in the six months post-election period. However, WGC admits that these results are statistically insignificant and that gold is responding not to the party affiliation of an elected President but, more likely, to the expected effect of specific policies.
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.

VinFast in the Middle East: A Sprint Start, Marathon Finish

VinFast is striving for a first-mover advantage in the Middle East’s nascent EV market, aiming to establish early brand recognition and customer loyalty, paving the way for long-term success in the region.


HANOI, VIETNAM – Media OutReach Newswire 29 August 2024 – The race to dominate the electric vehicle market has begun, and VinFast, a subsidiary of Vingroup, Vietnam’s largest private conglomerates, is sprinting to the front.

VinFast EV manufacturing complex in Hai Phong, Vietnam
VinFast EV manufacturing complex in Hai Phong, Vietnam

The company’s founder, Pham Nhat Vuong, once declared, “The growth of electric vehicles will be inevitable,” underscoring VinFast’s resolute belief in the electric future. This conviction has been the cornerstone of the company’s strategy, propelling it into a global race where establishing a foothold in emerging markets is paramount.

In the still-young EV landscape, the even younger car company has moved at a breakneck pace into multiple markets, impressing even TIME magazine enough to include it in their Top 100 Most Influential Companies of 2024. VinFast has now established its presence in various international regions, including Asia, North America, Europe, and the Middle East.

VinFast’s selection of the Middle East as one of its key markets is intriguing, considering the region’s historical dependence on fossil fuels and a track record not typically associated with environmental consciousness. However, this decision unveils VinFast’s underlying approach: sprinting to the starting line to secure a first-mover advantage in a nascent market, cultivating strong brand recognition, and then transitioning into a marathon towards the finish line.

This strategy is particularly well-suited for emerging markets like the Middle East, where established competition is scarce but a growing demand for EVs exists. The Middle East, with its affluent population and growing interest in sustainable technologies, presents a fertile ground for VinFast’s expansion. For instance, the region’s EV market is projected to grow at a compound annual growth rate (CAGR) of 28.9% by 2028, according to 6Wresearch. The UAE alone aims to have 30% of its vehicles be electric by 2030, and Saudi Arabia has set an ambitious target of 30% EV adoption in Riyadh by 2030.

VinFast’s diverse range of electric SUVs, e-scooters, and e-buses caters to the varied needs and preferences of consumers in the region. Moreover, the company’s emphasis on smart technology, coupled with a commitment to inclusive pricing, positions it as an attractive option for Middle Eastern consumers who are increasingly looking for alternatives to traditional gasoline-powered vehicles.

It seems that with each passing day, VinFast’s approach gains further validation as the competitive landscape in the Middle East becomes increasingly dynamic. Global brands are expanding their EV lineups in the region, local brands are emerging, and government support for EVs in countries like the UAE and Saudi Arabia is growing. These developments are making the market even more attractive to both local and international players.

By moving fast and first, VinFast is positioning itself to be ahead of the curve. The company’s early entry allows it to establish a foothold before the market becomes crowded, giving it the time to build brand recognition and customer trust.

The road ahead is long, but VinFast’s strategic marathon has begun, and the company is moving with determination. As the Middle Eastern EV market evolves, the company is well-positioned to reap the rewards of its early investments, solidifying its presence and brand recognition. The EV industry is not just about speed but also about endurance, and VinFast is preparing for both.

Hashtag: #VinFast

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

Free Cervical Cancer Vaccinations Soon Available at Lao Hospitals

Free Cervical Cancer Vaccinations Soon Available at Lao Hospitals
A school girl receives HPV vaccine in Vientiane, Laos (photo credit: UNICEF Laos)

Hospitals across Laos are set to offer free human papillomavirus (HPV) vaccinations to girls aged 10 to 14 to prevent cervical cancer as part of the World Health Organization (WHO)’s global initiative to eradicate the virus. The nationwide campaign is scheduled to begin in October.

Joint Organ Transplant Surgery Marks Milestone in Laos’s Healthcare

103 Military Hospital of the Lao People’s Army

On 23 August, a landmark organ transplant surgery was successfully carried out at Military Hospital 103 in Vientiane, Laos. This achievement was the result of a collaborative effort between Lao and Vietnamese surgeons, marking the progress in Laos’s healthcare and strengthening the bond between the two nations.

Cambodia to Sign Double Taxation Agreements with Laos, Philippines

Cambodia to Sign Double Taxation Agreements with Laos, Philippines
Cambodia plans to sign Double Taxation Agreements with Several nations

Cambodia is set to sign double taxation agreements (DTAs) with Laos and the Philippines, following the completion of essential technical procedures, according to Cambodian media.

DFI Retail Group Celebrates the Success of Cross-Company Diversity Internship Programme


HONG KONG SAR – Media OutReach Newswire – 29 August 2024 – As part of DFI Retail Group’s (DFI) efforts to foster diversity, equity and inclusion (DE&I), DFI is proud to announce the successful conclusion of its Cross-Company Diversity Summer Internship Programme. This 5-week programme provides students from underrepresented backgrounds with real-life work experiences and robust network, to deepen their knowledge in different industries and help their career path in the future. Additionally, the initiative underscores the Group’s strategic focus on creating a more inclusive and respectful workplace whilst retaining and attracting top-tier talent.

Group photo at the closing ceremony of the
Group photo at the closing ceremony of the “Diversity Internship Programme”

Cultivating Diverse Talents to Drive Innovation
The programme welcomed five talented students from diverse backgrounds, who participated in a unique rotational structure across DFI Retail Group, Hongkong Land, and Maxim’s Group. This expansive exposure allowed them to gain hands-on experience across various functions, including Finance, Marketing, Commercial, Corporate Social Responsibility, and People & Culture. Their unique cultural perspectives contributed significantly to enhancing team collaboration and problem-solving capabilities.

Strategic Importance
Ms. Joy Xu, Group Chief People & Culture Officer at DFI Retail Group, emphasised the programme’s strategic importance, “The Diversity Internship Programme is a key part of that broader DE&I efforts and marks a significant step in our journey. We are committed to making deep, systemic investments to foster a truly inclusive culture, and focused on sustainable changes in recruiting early-stage talent from underrepresented groups. I’m confident that through programmes like this, we can continue to make progress towards our DE&I goals and build a workforce that brings diverse perspectives to drive innovation and better meet the needs of our customers.”

Participating Student Experiences and Achievements

  • Angel Zeng, a student in biochemistry at The University of Hong Kong, explored new career possibilities within Maxim’s Group, Hongkong Land, and IKEA Hong Kong. She expressed her gratitude, stating, “This internship allowed me to delve into the corporate world, revealing potential career paths I hadn’t considered before.”
  • Jude Azuro, a fourth-year Finance student at the Hong Kong Baptist University, found his niche despite initial hesitations, “While I initially had doubts on my limited professional experience, I was thrilled to see meaningful and significant impact of my contributions.”
  • Preeti Kaur, from the Hong Kong University of Science and Technology, actively participated in the Wellcome Marketing team. She shared, “Not only did I contribute to work tasks, I also felt genuinely integrated into the team culture, which included team-building activities with my colleagues.”

Closing Ceremony and Future Prospects
The programme’s success was celebrated at a closing ceremony held in DFI Store Support Centre, attended by interns and representatives from partnering companies. Ms. Natalie Wu, Head of Corporate Social Responsibility from Hongkong Land and Ms. Emmeline Tse, Senior Partner, Talent Acquisition from Maxim’s Group expressed their excitement to be a part of this meaningful programme. Witnessing the growth and dedication of the students, both expressed intention to expand it to involve more students next year.

DFI’s Ongoing Commitment to DE&I
DFI is greatly committed to promoting DE&I from within and creating pathways for diverse talent to grow and thrive in the company. In addition to the endorsement of the United Nations Women’s Empowerment Principles (WEPs), DFI aims to increase women representation in leadership roles to 40%, thereby enhancing gender diversity. Complementing these strategic goals, DFI has rolled out a wide range of ongoing workshops and training programs, achieving high participation from leaders to broader team members, further exemplifying its dedication to creating a truly inclusive workplace.

Hashtag: #DFIRetailGroup #DFI #diversity #DE&I #retail #internship


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

About DFI Retail Group

DFI Retail Group (the ‘Group’) is a leading pan-Asian retailer. The Group provides quality and value to Asian consumers by offering leading brands, a compelling retail experience and great service; all delivered through a strong store network supported by efficient supply chains.

The Group (including associates and joint ventures) operates under a number of well-known brands across food, convenience, health and beauty, home furnishings, restaurants and other retailing.

Kenanga Investment Bank Berhad Operating Profit Rise 60.4%, Boosts 1H24 Earnings


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 29 August 2024 – Malaysia’s leading independent investment bank, Kenanga Investment Bank Berhad (“Kenanga” or “The Group“) today announced stronger earnings for the period ended 30 June 2024 (“1H24“).

Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad
Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad

Revenue for 1H24 rose by 18.3% to RM447.3 million from RM378.1 million, while profit before tax (“PBT“) increased by 13.1% to RM40.5 million from RM35.8 million in the preceding year. This improved performance is primarily due to a 60.4% increase in operating profit and share of profit from associates. Net profit stood at RM32.2 million, reflecting an 18.8% growth from 1H23.

In line with the improved trading volumes on the local bourse, the Group’s Stockbroking division PBT surged nearly three-folds to RM13.6 million in 1H24, from RM4.7 million in the corresponding period. Its revenue also reported robust growth, rising 38.4% from RM142.4 million to RM197.1 million in 1H24, driven by higher trading and investment income, as well as brokerage fee income. Additionally, the division maintained strong retail market share of 24.8%, demonstrating its continued presence and competitiveness in the market.

For the period 1H24, the Group’s Asset and Wealth Management division reported higher revenue of RM118.5 million, while PBT stood at RM11.6 million, impacted by lower management and performance fees income, as well as higher credit loss expense. Its AUA demonstrated a steady growth, increasing by 12.9% to RM23.6 billion against the same period last year.

For the Group’s Listed Derivatives business, the segment reported a 10.8% increase in revenue to RM13.3 million for 1H24 compared to RM12.0 million in the corresponding period. The growth is attributed to higher commission and interest income generated as a result of higher trading activities in the derivatives space. Mirroring this, its PBT jumped 18.8% year-on-year to RM3.8 million.

The Group’s Investment Banking division registered higher revenue of RM121.2 million, reflecting an 11.8% increase from the RM108.4 million reported in 1H23, attributed to higher investment banking fees income, as well as trading and investment income. Lower interest income and credit loss expenses resulted in a loss before tax of RM3.0 million for the division.

“Barring any unforeseen circumstances, we anticipate surpassing last year’s performance, driven by improving economic conditions and increased volumes on Bursa Malaysia,” said Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad.

“Amidst recent market volatility and geopolitical tensions, vigilant risk management and prudent credit management have been key to strengthening our resilience. With over five decades of capital market expertise and experience behind us, we are well-positioned to navigate challenges, capitalise on emerging opportunities, and sustain our growth momentum to continue delivering long-term shareholder value,” concluded Datuk Chay.

Earlier last week, Kenanga launched KDi GO, Malaysia’s newest wealth management app that integrates a spectrum of financial services into a seamless ecosystem. This launch marks another milestone in Kenanga’s commitment to providing innovative solutions that meet the evolving needs of its clients. KDi GO is available for download on the Apple App Store and Google Play Store. For more information, visit https://getkdigo.com.

Hashtag: #Kenanga

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

Kenanga Investment Bank Berhad (197301002193 (15678-H))

Established for over 50 years, Kenanga Investment Bank Berhad (“The Group“) is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing.

An innovative and established home-grown brand, the Group’s digital ambition includes building a robust digital ecosystem that meets the needs of its clients and businesses. Some of its game-changing products include Malaysia’s fully online digital stockbroking platform Rakuten Trade and a fully A.I. robo-advisor, Kenanga Digital Investing. The Group also launched Malaysia’s first securities broking e-wallet, Kenanga Money, paved the way in AI-led Quan and algorithmic trading, kick-started a revolutionary supply chain financing solution for SMEs and made inroads into the digital assets space through its investment in Tokenize Technology (M) Sdn.Bhd.

The Group has garnered a host of awards and accolades reflecting its strong market position. It was awarded Highest Returns to Shareholder Over Three Years, Highest Growth in Profit After Tax Over Three Years and Highest Return on Equity Over Three Years by The Edge Malaysia Centurion Club in the Financial Services Category, Best Overall Equities Participating Organisation (Champion), Best Retail Equities Participating Organisation – Investment Bank (Champion), and Best Online Retail Participating Organisation (Champion), as well as Best Overall Derivatives Trading Participant (Champion), Best Trading Participant Commodity Derivatives (Champion), and Best Institutional Derivatives Trading Participant (Champion) in the Bursa Excellence Awards 2023. The Group was also accorded the title of Best Educational Initiative Award at the SRP Asia Pacific Awards 2023 and was recognised for Most Innovative Use of Technology at the FinanceAsia Awards 2024.

The Group continues to be a regular and repeat recipient of distinguished industry accolades, such as the Lipper, Fundsupermart and Morningstar awards. Rakuten Trade, Malaysia’s first fully digital securities broker in 2017 via a joint venture with Japanese fintech giant Rakuten Securities Inc was also named Malaysia’s Digital Experience of the Year – Brokerage at the Asian Experience Awards 2022. The Group is also a Participant of the United Nations Global Compact and adheres to its principle-based approach to responsible business and is one of the highest scoring constituents in the FTSE4Good Bursa Malaysia Index.

Today, Kenanga Investment Bank Berhad is an award-winning leading independent investment bank in the country with a continuous commitment towards driving collaboration, innovation, digitalisation and sustainability in the marketplace.

This Press Release was issued by Kenanga Group’s Marketing, Communications & Sustainability Department.

An Ideal Wedding Destination: Vinpearl’s Blend of Nature and Luxury


HANOI, VIETNAM – Media OutReach Newswire – 29 August 2024 – Vietnam’s captivating blend of natural beauty, rich culture, and world-class hospitality has made it a prime destination for Indian tourists seeking a luxurious escape. Vinpearl, renowned for its innovative approach and rapid development, is ideally positioned to capitalize on this growing trend. As Vietnam’s tourism industry continues to thrive, Vinpearl’s role as a leading real estate developer becomes increasingly pivotal in solidifying the country’s reputation as a premier destination for travelers.

Vinpearl Resort and Spa Ha Long
Vinpearl Resort and Spa Ha Long

In a testament to Vietnam’s burgeoning appeal as a luxury travel destination, over 4,500 employees of Indian billionaire Dilip Shanghvi’s company, Sun Pharmaceuticals Industries Limited, descended upon the Southeast Asian nation for a company-sponsored vacation.

The extravagant trip underscores Vietnam’s growing allure among India’s wealthy elite. In recent years, the country has witnessed a surge in high-profile weddings and events hosted by Indian billionaires, cementing its reputation as a premier destination for discerning travelers.

Vietnam’s Luxury Tourism Comes of Age: Vinpearl’s Role in the Revolution

Vietnam’s breathtaking natural landscapes, coupled with world-class resort experiences like those offered by Vinpearl, are proving to be an irresistible combination for discerning travelers. This was exemplified recently when Vinpearl Resort and Spa Ha Long hosted a lavish Indian wedding that captured international attention.

Over 600 guests, including Indian billionaire Vivek Dinodiya, descended upon the resort for the three-day celebration.The event showcased the resort’s ability to seamlessly blend luxurious amenities with the awe-inspiring beauty of Ha Long Bay.

Following the wedding festivities, the VIP guests embarked on a tour of the region, exploring the iconic landmarks and natural wonders of Ha Long Bay and Ha Long City.

In just a decade, the northern Vietnamese province of Quang Ninh has undergone a remarkable metamorphosis, transitioning from a brown economy to a thriving tourism hub. This transformation has not only elevated Quang Ninh to the status of the region’s tourism capital but has also catapulted it onto the international stage with a successful track record of hosting major events.

Among the province’s crown jewels is Vinpearl Resort & Spa Ha Long, a pioneering seaside resort offering luxury and natural beauty. Nestled upon three private beaches, the resort boasts expansive outdoor amenities, including a 1,200-square-meter swimming pool. The spacious rooms, each with a private balcony, provide guests with breathtaking views of Ha Long Bay and the city below.

Vinpearl’s influence extends far beyond Quang Ninh. Backed by billionaire Pham Nhat Vuong’s Vingroup, the resort chain operates 45 properties across 17 Vietnamese provinces, underscoring its commitment to delivering exceptional experiences to guests nationwide.

The saga of Vinpearl began in 2001 when Vuong, returning from his entrepreneurial triumphs in Ukraine, recognized the untapped potential of Hon Tre Island in Nha Trang. After an intensive 18-month construction period, Vinpearl Nha Trang opened its doors in 2003, answering the doubters with its luxurious offerings. This 5-star resort marked the beginning of a remarkable journey that would transform Vietnam’s tourism landscape.

Beyond Luxury: How Vinpearl is Fueling Vietnam’s Tourist Boom

With a clear investment strategy and a keen eye on global resort trends, Vinpearl rapidly expanded its presence across Vietnam. In less than a decade, the company had established a network of premier resorts, amusement parks, and entertainment complexes, each a testament to Vingroup’s commitment to excellence.

Vinpearl’s projects have consistently set new standards in the industry, impressing visitors with their scale, quality, and rapid development.

Vinpearl’s portfolio has expanded significantly over the years, now encompassing 45 accommodation establishments with over 18,500 rooms and villas, 3 theme parks and 2 amusement parks, 2 parks to preserve and care for semi-wild animals, and 4 golf courses. This diverse range of offerings caters to the needs of all travelers, from romantic couples seeking a secluded getaway to adventurous families and business professionals seeking a productive yet inspiring environment.

Vinpearl’s commitment to customer satisfaction has been a hallmark of its success. Even in the face of the COVID-19 pandemic, which devastated the tourism industry, Vinpearl demonstrated remarkable resilience and adaptability. The company emerged from the crisis stronger than ever, achieving a rapid and full recovery. In 2023 alone, Vinpearl welcomed nearly 742,000 visitors to its resorts and conference facilities.

The allure of a destination favored by the world’s wealthiest individuals extends far beyond mere consumer spending.These high-net-worth individuals are often keen on investment opportunities, contributing significantly to the local economy. For Vietnam, attracting such clientele, particularly for milestone events like weddings, offers immense potential for economic growth.

Vietnam boasts a unique blend of natural beauty, cultural heritage, and world-class hospitality. Its cultural proximity to India has also made it a popular choice for Indian tourists seeking to combine luxury travel with opportunities for diplomatic and economic engagement.

Vinpearl, with its reputation for innovation and rapid development, is well-positioned to capitalize on this growing trend. As the country’s tourism industry continues to flourish, Vinpearl’s role as a leading real estate enterprise becomes increasingly pivotal in shaping Vietnam’s future as a premier destination for discerning travelers.

Hashtag: #Vinpearl

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