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Qmiax Obtains Canadian MSB License, Initiating a New Era of Compliance in Trading

NEW YORK, USA – Media OutReach Newswire – 30 April 2024 – In the rapidly evolving landscape of global financial technology, cryptocurrencies have become a significant part of financial innovation. With the rapid expansion of the market, regulatory compliance of cryptocurrency exchanges has become a highly focused area of attention both within and outside the industry. Recently, Qmiax exchange announced that it has been granted the Money Services Business (MSB) license by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), sparking widespread attention in the industry. This major achievement not only marks a new chapter in the development of Qmiax but also sets a new benchmark for compliance in the entire cryptocurrency trading industry.

Compliance is crucial for cryptocurrency exchanges, as it is key to their survival and growth. Compliant exchanges can provide users with a secure, transparent trading environment, effectively mitigating financial risks. Therefore, obtaining certification from authoritative financial regulatory agencies becomes a vital cornerstone for the sustainable development of exchanges.

As a dynamic cryptocurrency exchange, the acquisition of Qmiax of the MSB license from FINTRAC demonstrates its high commitment to compliance and security. Behind this achievement is the relentless efforts of Qmiax and innovation in ensuring trading compliance and security. The platform has established rigorous internal monitoring systems, implemented advanced Know Your Customer (KYC) procedures for customer identity verification, and introduced advanced technologies and algorithms in Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) measures to monitor and analyze trading activities, identify, and prevent suspicious activities. Additionally, the platform collaborates with leading global security technology companies to further enhance data security and protect user assets.

Improvements in compliance will enable the platform to attract more users and investors seeking a secure and reliable trading platform. In the current increasingly mature cryptocurrency market, users have higher demands for security and compliance from exchanges. Faced with evolving regulatory environments and rapid technological advancements, Qmiax needs to continuously adjust and optimize its compliance strategies to meet various challenges that may arise in the future.

In the future, Qmiax will continue to uphold the principles of compliance, security, and innovation to provide users with higher quality services and drive the development of the cryptocurrency trading industry.

https://www.qmiax.co
Hashtag: #Qmiax

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

Samsung Solve for Tomorrow 2023 Concludes After an 8-Month Journey, Igniting the Collaborative Efforts of Hong Kong’s Primary and Secondary School Students Towards a Technology-Driven Sustainable Future

Ying Wa Primary School and Ho Yu College and Primary School (Sponsored by Sik Sik Yuen) emerged as the Champions in the Primary and Secondary school categories respectively. Around 2,000 students enthusiastically responded to the call for action under the theme of “1maginati0n that Creates our Sustainable Future.”


HONG KONG SAR – Media OutReach Newswire – 30 April 2024 – In line with its unwavering commitment to “Everyday Sustainability,” Samsung Electronics HK. Co. Ltd, the world’s leading technology company, successfully organized the annual Samsung Solve for Tomorrow competition under the theme of “1maginati0n that Creates our Sustainable Future.” This year’s competition garnered remarkable participation from over 2,000 students representing nearly 400 primary and secondary schools who actively took part in a diverse range of online and offline activities. The final stage of the competition was conducted in a more streamlined format, where the eight shortlisted teams presented their projects to the judging panel after receiving valuable guidance from mentors and refining their creative endeavors. The level of competition was intense, with the judges meticulously selecting the winners in real-time. Additionally, the event showcased the Samsung “Tomorrow’s Lifestyle Showcase,” which served as a dynamic platform for the public to explore how the eight shortlisted teams harnessed the power of technology to pave the way for a sustainable future.

Samsung Solve for Tomorrow 2023 concludes after an 8-month journey, garnering remarkable participation from over 2,000 students representing nearly 400 primary and secondary schools who actively took part in a diverse range of activities
Samsung Solve for Tomorrow 2023 concludes after an 8-month journey, garnering remarkable participation from over 2,000 students representing nearly 400 primary and secondary schools who actively took part in a diverse range of activities

“As we celebrate the 10th anniversary of Samsung Solve for Tomorrow, we also witness how rapidly evolving technology is transforming our lives. In recent years, AI (Artificial Intelligence) has become a hot topic that everyone is exploring. As a technology leader, Samsung embraces the ‘Al for All’ vision, leveraging AI technology to bring new experiences to our products. We also noticed that approximately 15% of the participating entries incorporated various AI technologies. I am proud to see these young talents seizing the opportunity to explore and master these advanced technologies. This has been the original intention since we brought Solve for Tomorrow to Hong Kong in 2013,” said Yiyin Zhao, Managing Director at Samsung Electronics Hong Kong.

“In recent years, AI (Artificial Intelligence) has become a hot topic that everyone is exploring. We also noticed that approximately 15% of the participating entries incorporated various AI technologies.
“In recent years, AI (Artificial Intelligence) has become a hot topic that everyone is exploring. We also noticed that approximately 15% of the participating entries incorporated various AI technologies.” said Yiyin Zhao, Managing Director at Samsung Electronics Hong Kong.

She continued, “Solve for Tomorrow is not just a technology competition for students; it is a platform that allows the younger generation to showcase their skills and apply their knowledge across the STREAM fields, including Science, Technology, Research, Engineering, Arts, and Mathematics. It combines problem-solving abilities with creativity, critical thinking, collaboration, and communication skills, known as the ‘4Cs.’ Through this platform, students contribute ideas and solutions to various social issues, driving sustainable development and becoming the future leaders of Hong Kong.”

Samsung “Tomorrow’s Lifestyle Showcase” presents students’ aspirations for a sustainable future

In keeping with traditions, Samsung Solve for Tomorrow 2023 introduced several new elements this year. In additional to the STREAM workshop series which encompassed Design Thinking, modular robotics design, coding, collaboration and presentation skills, and video productions, advanced workshops on robotics and programming were also added, providing students who wanted to delve into advanced technology with the opportunity to learn through hands-on experiences guided by the instructor.

After the preliminary judging process, eight teams from the primary and secondary school categories were selected from hundreds of creative entries to advance to the final stage of the competition. These teams collaborated with mentors, consisting of renowned Hong Kong entrepreneurs and Samsung employees, to further refine their projects. Additionally, Samsung set up the “Tomorrow’s Lifestyle Showcase” to present the creative works of the eight shortlisted teams in three areas: “Tomorrow’s Home,” “Tomorrow’s Shop,” and “Tomorrow’s City.” The exhibition portrayed their visions for a sustainable future.

Ying Wa Primary School and Ho Yu College and Primary School (Sponsored by Sik Sik Yuen) emerge winners

After the keen competition at the Grand Pitch, the judging panel selected Ho Yu College and Primary School (Sponsored by Sik Sik Yuen) and Ying Wah Primary School as the champions.

Ho Yu College and Primary School (Sponsored by Sik Sik Yuen) presented their thoughtfully crafted project, “E-Receipt App”, an electronic receipt system for daily transactions that integrates paper receipts and point-of-sale systems to reduce the production and disposal of physical paper receipts. Users can instantly receive E-receipts on their mobile app after making a purchase, eliminating the need to wait for printed receipts. Merchants adopting the “E-Receipt App” platform can save on printing costs, while the platform facilitates unified sales calculations and boosts sales.

Ying Wah Primary School secured the primary school champion title once again with their intelligent channel device, “AI AQUA DEFENDER.” This device addresses waterlogging issues caused by channel blockages. When the AI camera detects obstacles on the channel cover, the built-in air pump blows away leaves using high-pressure air. The device also incorporates sensors to measure garbage levels, oil, and a spiral disperser to ensure unobstructed flow in the channel. A real-time monitoring application connects all the channel devices and provides information to channel maintenance personnel for efficient cleaning and upkeep of the channels.

Samsung Solve for Tomorrow 2023 competition, is organized by Samsung and co-organized by the Association of I.T. Leaders in Education (AiTLE) with full support from A Plastic Ocean Foundation, Hong Kong Education City Limited and Coding101, the leading STREAM solution provider in Hong Kong. The champions and the winners of 1st runner-up, 2nd runner-up, 3rd runner-up, and six Merit Awards of Primary and Secondary categories were announced at the Award Presentation Ceremony. The total prize of 20 winning teams is worth more than HK$260,000.

Winning list (Please refer to the appendix for details of the entries):

Primary School

Category

Champion
  • Ying Wa Primary School – AI AQUA DEFENDER
1st Runner up
  • S.K.H. Lui Ming Choi Memorial Primary School – AI Ocean Garbage Cleaner
2nd Runner up
  • AD & FD of POHL Leung Sing Tak School – Intelligent Liquid Packing Machine
3rd Runner up
  • Hong Kong Baptist Convention Primary School – Rewarding Recycling Machine
Merits

(6 teams)

  • Yaumati Catholic Primary School (Hoi Wang Road) – Volunteer Work Bingo App
  • Kwong Ming Ying Loi School – eMedicine app for elderlies and color blind patients
  • Methodist School – Student Spine Protector
  • Methodist School – Travelling Assistant for Visually Impaired People
  • Marymount Primary School – Recyclopedia
  • Marymount Primary School – AI Vision for Vision Disability
Secondary School

Category

Champion
  • Ho Yu College and Primary School (Sponsored by Sik Sik Yuen) – E-Receipt App
1st Runner up
  • Queen Elizabeth School Old Students’ Association Tong Kwok Wah Secondary School – Unblocked the Blocked Drainage
2nd Runner up
  • St. Paul’s Convent School – FOKUS
3rd Runner up
  • Belilios Public School – AI Manager
Merits

(6 teams)

  • Diocesan Girls’ School – Flower Nanny
  • St Stephen’s Girls’ College – Greener Fridge
  • St. Mary’s Canossian College – Elder-AID
  • Carmel Pak U Secondary School – EduForge
  • Fung Kai No.1 Secondary School – Connection VR
  • Man Kwan Pak Kau College – Construction Site Safety Guard

Hashtag: #Samsung

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

About Samsung Solve for Tomorrow

Samsung Solve for Tomorrow is an annual competition that brings together the creativity and passion for new technologies of young people around the world, to solve social problems in local communities. In 2013, Samsung introduced this meaningful event to Hong Kong and inspired tens of thousands of students to come up with innovative solutions that address social issues in Hong Kong. Samsung is promoting the new educational philosophy of “STREAM4CARE”. Besides encouraging Hong Kong students to increase their knowledge of STREAM – Science, Technology, Research, Engineering, Arts and Mathematics – Samsung hopes that they can develop empathy and sense of responsibility and apply their STREAM knowledge to contribute to the society. Through the competition, Samsung hopes to cultivate thought leaders of tomorrow, equipping them with both technological knowledge and the sense of responsibility of a global citizen.

To learn more about Samsung Solve for Tomorrow, please visit:

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions.

China leads with eight of top ten largest VC deals in Asia in Q1’24, KPMG analysis finds

AI and cleantech interest drives VC investment in Asia


HONG KONG SAR – Media OutReach Newswire – 30 April 2024 – Despite a challenging start to the year, China secured eight of the largest ten deals in Asia. China continued to show interest in advancing AI and machine learning innovation; cleantech and alternative energy also attract strong funding in China, where three cleantech were among the largest deals in Asia during the quarter, according to KPMG analysis.

In Q1’24, VC-backed companies in the Asia region raised USD18.9 billion across 2,305 deals, according to the latest KPMG’s Venture Pulse Q1 2024 report. Top three largest VC deals in Asia came from China, including a USD 1.1 billion deal by EV company IM Motors, a USD1 billion deal by AI-focused YueZhi AnMian, and a USD 940 million deal by Yuanxin Satellite.

AI and new energy continued to be the most attractive sectors for investment in China, including subsectors like new materials manufacturing to support new energy activities. China accounted for four of the world’s new cleantech and alternative energy focused unicorns in Q1’24, including Sungrow NewEnergy, Guangxi CNGR New Energy, Zhizi Auto, and Qiyuan Green Power.

Zoe Shi, Partner, KPMG China, says: “In China, we have witnessed significant development in the EV sector, especially in the passenger vehicle market. Currently, there is a growing interest on EV trucks due to China’s vast industrial market and the extensive use of trucks for industrial transportation. However, further progress is required to fully expand this sector, from an energy-related aspect of development and exploring new materials to support industrial vehicles.”

During Q1’24, a number of SPACs in Hong Kong are nearing their two-year deadline to announce a merger and others are close to their three-year window to complete an announced merger. Hong Kong saw SPAC deal processes taking longer than planned, largely attributable to extended approval processes needed for Chinese Mainland companies planning to merge with SPACs for public listings in Hong Kong, contributing to a more cautious pace in exit activities.

Irene Chu, Partner & Head of New Economy and Life Sciences, Hong Kong (SAR) KPMG China, says: “While the broader economy needs to pick up before IPO activity really comes back, there are some positive signs for the future. Advanced technology companies, AI companies, deeptech companies — all of those fall under the strategic industries supported by the Hong Kong with strong funding and policies. This can help bridge the financial gap for startups as they navigate the challenging funding market.”

Despite the challenging start to the year, the Hong Kong government continues to support R&D to drive the commercialization of research outcomes, nurture local start-ups and talent, and boost the collaboration with sister cities in the Greater Bay Area. Strategic companies from mainland China and the US in life and health technology, AI and data science, fintech, advanced manufacturing and new energy, have committed to setting up R&D centers or regional offices in Hong Kong via the Office of Attracting Strategic Enterprises (OASES) and invest more than USD5 billion and creating over 13,000 jobs in the coming years. These companies will give a boost to the startup ecosystem.

Looking ahead to Q2 2024, VC investment in Asia is anticipated to remain stable, with the consumer market expected to recover gradually. AI and ESG-related technologies, including battery technologies, the EV value chain, and semiconductors, are projected to continue drawing significant investments. In China, there is some expectation that potential government policies aimed at boosting economic confidence could enhance VC investor sentiment in the latter half of 2024, should the policies materialize in Q2’24.

Hashtag: #KPMGChina

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

About KPMG China

KPMG China has offices located in 31 cities with over 15,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multidisciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.

Winner of USD 1.3 Billion Powerball Jackpot is Immigrant From Laos

Cheng "Charlie" Saephan holds a check above his head after speaking during a news conference where it was revealed that he was one of the USD 1.3 billion Powerball jackpot at the Oregon Lottery headquarters on 29 April 2024 in Salem, Ore. (Photo: AP)

SALEM, Ore. (AP) — One of the winners of a USD 1.3 billion Powerball jackpot this month is an immigrant from Laos who has had cancer for eight years and had his latest chemotherapy treatment last week.

ARCTITUDESIGN Dominates Again: Clinches Top Spots at 2023 Design Competitions

Continuing Their Award-Winning Streak, the Firm Excels at International Design Awards and Architizer A+Awards


HONG KONG SAR – Media OutReach Newswire – 30 April 2024 – ARCTITUDESIGN, an eminent interior architecture and design firm with roots in Australia and Hong Kong, has been honored with notable accolades in the 2023 International Design Awards (IDA) and the 2023 Architizer A+Awards. The firm received an Honorable Mention as the Interior Designer of The Year (Residential) at the IDA and was a Finalist in the Residential Interior category (less than 3000 sq ft) at the Architizer A+Awards. Merging the design aesthetics of these two regions, ARCTITUDESIGN produces innovative, lasting designs that elevate living and working spaces while catering to the specific needs and stylistic preferences of individuals.

ARCTITUDESIGN Dominates Again: Clinches Top Spots at 2023 Design Competitions

Influenced by Australian culture, ARCTITUDESIGN adopts an effortless style that is both relaxed and genuine, choosing a natural and organic approach to design rather than a polished and formal one. By focusing on simplicity and balance, ARCTITUDESIGN crafts tranquil and elegant environments that invoke peace.

Recognizing the need for precise vision and detail in complex designs, ARCTITUDESIGN delivers a variety of services including interior design and planning, construction, project management, and procurement. Committed to aesthetics and functionality, the firm ensures every aspect of the design process is carefully considered, from material selection to sustainability, accommodating client needs and the diverse ways people inhabit spaces.

ARCTITUDESIGN prioritizes effective space planning to improve movement and interaction within spaces, using sustainable materials and integrating thoughtful lighting solutions and acoustic considerations to foster a connection between individuals and the environments.

With a diverse portfolio that demonstrates the team’s commitment to design excellence, ARCTITUDESIGN has successfully executed numerous residential and commercial projects, adapting the company’s designs to meet the unique demands of each client. From initial design to post-construction maintenance, the team’s services cover all aspects of creating adaptable, innovative, and communicative environments that are prepared for the future and leave a lasting impression.

For additional details about ARCTITUDESIGN and to view the portfolio, please explore the website at arctitudesign.com.hk.
Hashtag: #ARCTITUDESIGN

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

About ARCTITUDESIGN

ARCTITUDESIGN is dedicated to a comprehensive and holistic approach to interior design, emphasizing the overall well-being of individuals’ mind, body, and spirit. The firm’s mission is to craft aesthetically appealing environments that not only look beautiful but also enhance comfort and promote a stress-free lifestyle.

ECOVACS ROBOTICS Teams Up with New Brand Ambassador, South Korean Superstar Jun Ji-hyun, for a Dynamic Journey Ahead


SINGAPORE – Media OutReach Newswire – 30 April 2024 – ECOVACS ROBOTICS, a global leader in service robotics, is thrilled to announce the appointment of Jun Ji-hyun, the celebrated South Korean actress and model, as its new Brand Ambassador. The partnership marks a new era for ECOVACS to break new ground with industry-leading innovations that improve the lives of people in the Asia-Pacific and around the world.

Jun Ji-hyun with ECOVACS DEEBOT T30

With her powerhouse performances, Jun Ji-hyun has earned critical acclaim and numerous awards. Moreover, her charisma, self-confidence and authenticity continue to capture the hearts and minds of the public, making her the ideal embodiment of ECOVACS’ continuous commitment to innovation. And ECOVACS also stands out as Jun Ji-hyun’s top choice, eliminating the dilemmas of choosing home cleaning solutions. For over 26 years, ECOVACS has played a key role in defining new categories of service robots that have transformed the industry. Among them are the world’s first robotic vacuum cleaner, the DEEBOT, the world’s first robotic window cleaner, the WINBOT, and the world’s first robotic air purifier, the AIRBOT.

ECOVACS ROBOTICS Family

Both ECOVACS and Jun Ji-hyun share a passion for excellence, with a goal to constantly revolutionize the conventional status quo and set new standards for the industry. Leading the core robotics and intelligent technologies, ECOVACS has expanded its offerings from indoor to outdoor products. With its revolutionary breakthroughs, ECOVACS is always redefining the industry. Today, ECOVACS’ customer base includes more than 50 million households in over 150 countries and regions worldwide.

Upholding the mission of “Robotics for All,” ECOVACS is constantly looking ahead and envisioning the future lives of people to develop aspirational products and technologies. Each one represents a valuable addition to the product matrix, meticulously crafted to enhance the home cleaning experience in every way, with the exquisite DEEBOT T30 OMNI, the versatile DEEBOT X2 COMBO, the pioneering DEEBOT Y1 Family, and the cutting-edge WINBOT W2 OMNI launched in APAC region. Notably, the refined T30 family took the robotic vacuum cleaner market by storm with sales of over 50,000 units within only 15 days upon its debut.

“Jun Ji-hyun’s dynamic personality and persistent dedication to achieving excellence in her career makes her the ideal ambassador of our brand in the Asia Pacific region. APAC is one of the most important overseas markets for ECOVACS, and we want to lead the way in utilizing service robotics to elevate the lifestyles of consumers in this region together with Jun Ji-hyun.” said David Qian, vice chairman of ECOVACS Group and CEO of ECOVACS ROBOTICS.

Jun Ji-hyun’s ambassadorship with ECOVACS symbolizes the company’s new momentum to forge deeper connections with its regional consumers, echoing its three-year strategic plan to become the world’s most loved robotic brand in the future. Through this remarkable alliance, ECOVACS is also poised to continue redefining the smart robotic experience and expanding its global presence to further the brand’s mission of creating “Robotics for All”.
Hashtag: #ECOVACSROBOTICS

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

ECOVACS ROBOTICS

Innovation has been in ECOVACS’ DNA since the very first day. ECOVACS Robotics is one of the earliest service robot developers and manufacturers in the world. We are laser-focused on independent and ground breaking R&D, design, and manufacturing of service robots. We stay committed to our ambition of becoming the world’s leading robotics company. ECOVACS Robotics has a single-minded mission – “Robotics for All.”

Over 26 years of design and industry-leading research have led to ECOVACS winning recognition from global customers. We focus on our vision – “Advancing robotic technologies to serve the world, to create a holistic ecosystem between human and robotics in lifestyle and production”. We stay committed to avantgarde R&D to understand users’ needs, innovating to build a better world, and promoting the growth of our industry.

K E Wee Associates PAC – Achieving Company Compliance Success: Chartered Accountant Wee Kong Eng Shares Key Insights

Compliance is critical for every business’s operational integrity. Chartered accountant Wee Kong Eng offers insights into Singapore’s regulatory environment.

SINGAPORE – Media OutReach Newswire – 30 April 2024 – Maintaining compliance with regulatory requirements in Singapore is critical for every business’s operational integrity. Chartered accountant Wee Kong Eng shares more about the importance of compliance and offers insights into navigating the regulatory framework.

SINGAPORE, 19 March 2024 — Maintaining compliance with regulatory requirements in Singapore is critical for every business’s operational integrity. Chartered accountant Wee Kong Eng shares more about the importance of compliance and offers insights into navigating the regulatory framework.

Singapore’s Regulatory Landscape
Singapore’s regulatory framework prioritises fostering a business-friendly environment. Numerous guidelines are implemented to not only support businesses in achieving sustainable growth, but also protect consumers or the public. However, Singapore also offers various initiatives, such as strategic exemptions that smaller enterprises can leverage for efficiency and flexibility in regulatory compliance. For example, smaller companies do not have to have their financial statements audited for a year if they meet certain criteria. All required submissions to the authorities are also digitised—Singapore’s compliance system is probably one of the most efficient in the world.

Important Guidelines Businesses Must Pay Attention To
There is a long list of laws that businesses have to comply with. Firstly, they must prepare proper accounts and submit income tax returns. Those who are GST-registered (or required to pay GST) will need to submit GST returns. Secondly, all companies in Singapore must prepare financial statements, have the financial statements audited and hold an Annual General Meeting (AGM) unless they are exempt from doing so. Then, an Annual Return must be submitted to the Accounting and Corporate Regulatory Authority (ACRA). There are also other requirements like Central Provident Fund (CPF) contributions and submission of employees’ income to the Inland Revenue Authority of Singapore (IRAS).
Importance of Compliance
All businesses, regardless of their size, must ensure that they fully meet all statutory compliance guidelines as those are legal requirements and there are consequences for not complying with them. Large corporations usually give compliance requirements their due attention, but unfortunately, a good proportion of smaller, locally-owned businesses tend to neglect compliance and may have to suffer the effects of violations or non-compliance. This could stem from resource and cost constraints or a misconception that compliance with statutory requirements are not important.
However, in order to grow and expand, there must be changes to mindset and approach to compliance. And a culture of compliance, combined with a set of proper systems can be helpful for businesses looking for long-term sustainable success. For example, when they wish to sell their business, add new investors or when they exceed the threshold to be exempt from audits, difficulties will begin to rise if the business did not have the foundations for compliance in place.
Tips for Ensuring Compliance
It’s important for businesses, especially smaller entities that aim to grow, to have the right culture and attitude toward compliance. The tone from the top is crucial. Businesses should recognise that compliance with accounting, taxation, GST and other requirements is part of their business requirements. Like any other business costs, there must be costs allocated to meet these compliance needs, and these must be implemented from the get-go so that it becomes part of the business’s DNA. Many businesses grow without the required foundations for compliance in place and only to find that implementing the required policies, procedures and controls cannot be done overnight.
For businesses that are unable to perform all compliance activities themselves to meet these requirements, they can outsource the tasks to appropriately qualified service providers. However, when selecting a service provider or advisor, businesses need to make sure that they’re choosing those with the right expertise and capabilities to deliver the quality required. Many accounting-related services in Singapore are actually unregulated and there are a myriad of different types of service providers in the industry, so it’s wise to stay vigilant.

Hashtag: #KEWeeAssociatesPAC

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

About K E Wee & Associates PAC

(Public Accounting Corporation) is a professional firm of Chartered Accountants of Singapore that provides auditing, assurance, and other accounting services to businesses in Singapore. The team works to assist clients in meeting their compliance requirements, including corporate regulatory, financial reporting, goods and services tax, and company income tax submission guidelines.

Wee Kong Eng is a chartered accountant with over 20 years of experience and a Public Accountant registered with the Accounting and Corporate Regulatory Authority (ACRA). Throughout his career, he has assisted clients in various aspects, including navigating tax, GST, and transfer pricing audits conducted by IRAS, facilitating tax refunds, and guiding businesses through complex compliance issues.

Lek Hang Group Announces Highly Anticipated Soft Opening of Hotel Central

Offering Historic Experiences in the Heart of Macau’s Avenida de Almeida Ribeiro


MACAU SAR – Media OutReach Newswire – 30 April 2024 – Lek Hang Group, investing over HKD 2 billion in acquisition and revitalization, is proud to announce the soft opening at April 30 of their flagship hotel, the renowned Hotel Central. The hotel locates in the heart of Macau and adjacent to iconic attractions such as Ruins of St. Paul’s and The Senado Square. Alongside the hotel, the fourth floor will also feature the Nostalgic Western dishes restaurant “Palace”.

P001 Lek Hang Group's century-old Hotel Central, a landmark of Avenida de Almeida Ribeiro and the neighbourhood of the famous tourist attractions, Ruínas de São Paulo and the Largo do Senado, which is the result of more than a decade of hard work, commenced its soft opening on April 30.
P001 Lek Hang Group’s century-old Hotel Central, a landmark of Avenida de Almeida Ribeiro and the neighbourhood of the famous tourist attractions, Ruínas de São Paulo and the Largo do Senado, which is the result of more than a decade of hard work, commenced its soft opening on April 30.

Mr. James Wong, Marketing Director and Senior Assistant to the Chairman of Lek Hang Group, expressed his excitement as the entire staff of Hotel Central is well-prepared after a meticulous and comprehensive training process. This endeavor, representing over a decade of dedication and hard work, is now ready to be unveiled to the public. With the soft opening coinciding with the highly anticipated May Day holiday, James hopes to leverage the synergy between the hotel and its associated tourist facilities to enhance the vibrancy and appeal of the old city area. By enticing visitors to explore Macau’s historic district, the aim is to provide an immersive experience of Macau’s unique charm and cultural heritage while stimulating tourists’ spending and revitalizing community tourism.

P002 Located on the fourth floor of Hotel Central,
P002 Located on the fourth floor of Hotel Central, “Palace” is a high-end restaurant specialising in Nostalgic Western dishes.

Hotel Central offers a total of 114 rooms with six different room types ranging from the Superior Room to the Supreme room with balcony, cater to the needs of different travellers. The interior design, led by the internationally renowned Cheng Chung Design, incorporates local elements with meticulous precision, showcasing Macau’s distinctive flavor and cultural memories. Moreover, the various vintage objects found throughout the hotel were personally handpicked by Lek Hang Group Chairman Mr. Simon Sio, ensuring that guests can feel the historical and cultural essence of Macau in every corner of Hotel Central.

P003 The interior design of Hotel Central led by the Internationally renowned Cheng Chung Design
P003 The interior design of Hotel Central led by the Internationally renowned Cheng Chung Design

Meanwhile, the well-known Palace, renowned for its traditional dim sum, has undergone a magnificent transformation. It now emerges as a high-end restaurant focusing on Nostalgic Western dishes, paying homage to traditional culinary culture and heritage. Serving breakfast, lunch, dinner, and afternoon tea, each dish at the restaurant carries a unique historical story, aiming to evoke nostalgia for glorious bygone eras while leading the way in future dining trends.

To celebrate the soft opening and welcome the bustling May Day holiday, Hotel Central is delighted to offer the “Glory returns for 100 years” soft opening package. Guests can enjoy a two-night stay at a special rate starting from MOP 788 per room per night, which includes a complimentary breakfast for two at Palace and complimentary mini-bar access during the stay. The package is available for stays from April 30 to June 30 and can be purchased on the Hotel Central official website.

Hashtag: #澳門 #酒店 #新中央酒店 #力行集團 #旅遊 #文物

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

About Lek Hang Group

Established in 1991, Lek Hang Group has become a pillar of Macau’s business landscape, adhering to a philosophy of “Diligence and Focus, Grounded in action” and growing alongside the region. Over three decades, the group has diversified into real estate, construction, hotel management, dining, mall operations, and advertising planning, all while actively engaging in corporate social responsibilities. These efforts include revitalizing old districts and contributing to the community, reflecting the group’s commitment to long-term strategic planning and the stable development of its businesses.