HONG KONG SAR – Media OutReach Newswire – 29 February 2024 – Economist Impact’s fourth annual Technology for Change Asia brought together more than 450 technology chiefs, innovators, investors, scientists and senior business representatives for two days in Hong Kong on February 27th and 28th. Chaired by The Economist Group’s moderators, a cohort of 50 expert speakers delved into the latest technology solutions impacting businesses, societies, and economies.
Tom Standage, deputy editor, The Economist
Opening the event, Tom Standage, deputy editor, The Economist said: “Technology has a very welcome spot in a world that is currently beset by uncertainty and conflict. From AI to medicine to electrical vehicles to solar power, the pace of progress is defying expectations. It’s a cause for optimism when it comes to technology’s ability to change things for the better. A lot of people worry it’s going to take jobs, or somehow turn evil, or wipe out humanity. But I’m not gloomy about Artificial Intelligence (AI)…it reduces the difference of quality between the best and the rest. AI has the intriguing opportunity to reduce inequality instead of increasing it. Technological progress is driving positive change. Technological innovations have the ability to transform lives and to foster social and economic development, to improve healthcare and to hasten the achievement of the UN’s Sustainable Development Goals.”
In an opening ministerial keynote address, Professor Sun Dong, Secretary for Innovation, Technology and Industry, Government of the Hong Kong Special Administrative Region said: “As we enter a new era of technological revolution and industrial transformation, with AI in particular charting the way, Hong Kong is striving to become an international innovation and technology (I&T) hub…The future is all about AI. The trend of AI technology including generative AI has brought gigantic opportunities as well as challenges worldwide. No doubt, AI technology can enhance work productivity and enterprise efficiency with limitless potential for application.
The second of discussions examined the opportunities provided by AI. Michio Kaku, theoretical physicist, activist, futurologist, and popular-science writer said: “Now is the time to look at quantum computing… to understand your potential and the issues in the market. If you miss the boat, you’re out.”
Taking place in Hong Kong with a commitment to return for another two years, Economist Impact’s 4th annual Technology for Change Asia united over 450 solutions-oriented leaders to explore the latest innovations in artificial intelligence, Web3, DeFi and crypto, and the future of work in applying technology for impact.
The event is sponsored by Ernst & Young and TATA Communications, and is supported by Brand Hong Kong, The Hong Kong Tourism Board, InvestHK and StartmeupHK. Live translation into Cantonese and Putonghua is offered by KUDO. Hashtag: #EconomistImpact #technology #AI #innovation #IT #EconTechforChange
The issuer is solely responsible for the content of this announcement.
About Economist Impact
Economist Impact empowers businesses, governments and foundations to catalyse change and enable progress. Uniting the expertise The Economist Group is known for under a single brand, Economist Impact brings together policy research and insights, data visualisation, custom storytelling, events and media. Economist Impact combines the rigour of a think tank with the creativity of a media brand, engaging an influential audience in the areas of sustainability, healthcare and new globalisation. Visit www.economistimpact.com for more information.
New C-suite leadership appointments to supercharge growth as a global hospitality company
SINGAPORE – Media OutReach Newswire – 29 February 2024 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), announced a 28% year-on-year increase in fee-related earnings (FRE) to S$331 million, up from S$258 million in FY 2022. The announcement was made during CLI’s Full Year 2023 Financial Results which saw Ascott as a key contributor of FRE to CLI’s overall business. Ascott also achieved the highest number of property openings with nearly 9,600 units turning operational in the same year. Riding on a strong momentum of travel recovery, Revenue per Available Unit (RevPAU) grew 20% over 2022 from higher average daily rates and occupancies. 77 new properties across all brands were signed in 2023. The strong growth trajectory enabled Ascott to surpass its year-end target and secured 160,000 units earlier than expected in March.
“Ascott had a record year of fee earnings and property openings in 2023. The strong performance was underscored by our diverse portfolio of brands and strategic presence in new destinations. This is an important milestone to mark Ascott’s transformative journey to become a global leader in hospitality, as we celebrate 40 years of service this year. Harnessing our extensive network of third-party owners and in-market expertise, Ascott remains focused on driving asset light growth organically through management and franchise agreements. In 2023, 38% of new agreements signed were with existing owners, a demonstration of their confidence in us. At the same time, we are seeking out transformative deals which can accelerate our expansion. We will continue to build upon our portfolio of global brands to drive higher quality growth. This puts us well on track to achieve our target of more than S$500 million in fee earnings by 2028,” said Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging.
Riding on the momentum of a record growth year, Ascott is strengthening its top leadership team with new C-suite appointments. These appointments will bolster and capitalise operations, commercial, strategic planning, and hospitality design efforts. They will be part of the Ascott Leadership Council, which is led by Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging.
“Ascott is tapping into our experienced leadership bench to lead the charge in our next phase of growth as a global integrated lodging operator. This series of executive appointments is Ascott’s commitment to our owner and franchise communities, and to our guests, that we will be offering more best-in-class products and services to meet the strong consumer demand of modern travellers. With our flex-hybrid hotel-in-residence model, Ascott will continue to break new ground to meet travel needs across all stay purposes globally. Having a strong senior leadership team is integral to us achieving this vision,” added Mr Goh. Mr Lee Ngor Houai Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott
Mr Lee, Managing Director of Europe, Ascott, has been appointed as Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott. In his newly expanded role, Mr Lee is responsible for leading growth and overseeing operations in these key regions for Ascott. China is Ascott’s largest market with more than 47,000 units spanning over 200 properties, while EMEA and South Asia with India are emerging markets of high potentials that will propel the company’s portfolio strength. In Europe, Mr Lee continues the focus on a wider growth strategy to scale Ascott’s suite of brands across key destinations through both management and franchise management.
In addition, Mr Lee takes on digitalisation, business insights and operational excellence at the global corporate level. He will lead the drive for stronger alignment across Ascott’s global teams to ensure cross-country synergies for streamlined processes, resource optimisation, and seamless execution. Ms Tan Bee Leng Chief Commercial Officer, Ascott Managing Director, Digital Ventures, CapitaLand Investment
In her role as Chief Commercial Officer for Ascott, Ms Tan leads the company’s ecosystem of revenue-generation and brand-related functions. The Commercial Services team comprises Global Sales, Revenue & Distribution Management, Brand & Marketing, Loyalty & Partnerships, Digital Experience, as well as Public Relations & Communications.
Over the last two years, Ms Tan successfully led a global Brand360 exercise to strengthen Ascott’s portfolio through sharpened brand stories and the introduction of signature experiences and programmes unique to each brand. With evolving traveller expectations, Ascott has been on a journey of redefining its brands to drive brand relevance and affinity with guests. With each brand distinctively positioned, Ascott is primed to expand its offerings in the hotels and resorts space in its next phase of accelerated growth.
Driving tech-forward hospitality, Ms Tan led the revamp of Ascott brand website and the launch of a booking app to support its fast growing loyalty platform – Ascott Star Rewards (ASR). Amongst the many innovative offerings was the unveiling of a generative AI-powered web chatbot. Named after Ascott’s mascot Cubby, the chatbot is designed to deliver on improved booking experiences and drive direct bookings on DiscoverASR.com. It plays the role of a ‘travel buddy’ to all guests, making travel planning and booking more personalised and seamless.
Ms Wong Kar Ling Chief Strategy Officer, Ascott and Managing Director, Southeast Asia, Ascott
As Chief Strategy Officer, Ms Wong drives the development of Ascott’s global strategy and seeks opportunities to chart the course of growth through strategic initiatives including mergers and acquisitions, transformation, and partnerships. This is with the aim to accelerate expansion and provide Ascott with immediate access to new markets, diverse customer bases, and valuable synergies.
In 2022, Ms Wong led the acquisition of Oakwood Worldwide, and subsequently the successful integration of the brand into Ascott’s operational framework, enhancing the overall financial performance of the Oakwood portfolio post-acquisition. The brand portfolio has expanded by more than 20% since, making it one of Ascott’s fastest growing global brands with over 20 new signings. Ms Wong also oversaw the acquisition of the New Zealand master-franchise for Quest Apartment Hotels in 2023. The acquisition provided an immediate contribution to Ascott’s recurring fee income stream.
In addition, Ms Wong drives the capital recycling of Ascott’s assets and oversees the development of new markets, capabilities, and products to enhance the company’s portfolio and offerings. She also identifies strategic partnerships that will strengthen Ascott’s market position. Ms Wong continues to lead the team in Southeast Asia to drive all regional business, operations, and growth.
Mr Leong Teng Wui Chief Design & Technical Officer, Ascott
Mr Leong leads Ascott’s Product & Technical Services team as Chief Design & Technical Officer, overseeing the alignment of building and design standards across the global portfolio. With a role to push the boundaries of design innovation by flexing through product and room mix such as the adoption of new room models, facilities and features, Mr Leong plays an integral part in supporting Ascott’s flex-hybrid hotel-in-residence concept. The highly adaptable model provides agility for Ascott to respond to market demands and optimise occupancy for revenue growth.
With sustainable accommodation being an integral part of Ascott CARES, Ascott’s sustainability framework, Mr Leong will also spearhead the adoption of next-generation hospitality design. Integrated with environmentally friendly features, these designs seek to manage energy and water consumption, and reduce carbon emission.
Other Ascott Leadership Council members include:
Ms Beh Siew Kim Chief Financial & Sustainability Officer, Lodging, CapitaLand Investment Managing Director, Japan and Korea, Ascott Overseeing the finance, treasury, investor relations and sustainability functions of Ascott, in addition to a dual role driving the business, operations and growth in Japan and Korea, Ms Beh is also a non-independent, non-executive director of CapitaLand Ascott Trust (CLAS).
Ms Serena Lim Chief Growth Officer, Ascott In driving continued opportunities to extend Ascott’s geographic reach across key growth markets, Ms Lim leads the global business development team to steer and manage the company’s growth in management and franchise contracts globally.
Ms Serena Teo Chief Executive Officer, CapitaLand Ascott Trust Ms Teo is responsible for leading the strategic planning and implementation of investment and operational strategies for CapitaLand Ascott Trust, the largest lodging trust in Asia Pacific with an asset value of S$8.7 billion as at 31 December 2023. She also oversees the asset management, finance, investor relations and sustainability functions.
Mr Mak Hoe Kit Managing Director, Lodging Private Equity Funds, CapitaLand Investment Mr Mak is responsible for driving the growth of private equity investment and fund management for CapitaLand Investment’s lodging business. This includes the establishment and expansion of lodging private funds such as CapitaLand Ascott Residence Asia Fund II, Ascott Serviced Residence Global Fund and Student Accommodation Development Venture, with a combined target equity size of US$1.35 billion (S$1.8 billion).
Mr David Mansfield Managing Director, Australia, Ascott Mr Mansfied oversees Ascott’s managed operations in Australia, in addition to ongoing global leadership of business format franchise brand, Quest Apartment Hotels, which comprises over 170 properties in Australia, New Zealand, Fiji and the United Kingdom.
Mr Tan Tze Shang Managing Director, Special Projects and Senior Advisor to Ascott China A veteran with about 20 years of experience in China, Mr Tan provides counsel and guidance on China-related matters. He also leads and oversees key organisational projects to ensure strategic alignment and provides implementation support at the executive level.
Mr Joseph Wong Managing Director, China, Ascott Effective 26 March 2024, Mr Wong will lead the team to oversee and drive all business, operations, and growth of the company in China. He will be reporting to Mr Lee Ngor Houai, Chief Operating Officer, EMEA, South Asia and China, Ascott.
Mr Vincent Miccolis Managing Director, Middle East, Africa, Turkey and India (MEATI), Ascott Reporting to Mr Lee Ngor Houai, Chief Operating Officer, EMEA, South Asia and China, Ascott, Mr Miccolis leads the team in MEATI to drive all business, operations, and growth in the region.
The issuer is solely responsible for the content of this announcement.
About The Ascott Limited
Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with about 950 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.
Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.
A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.
This year, Ascott marks 40 years in hospitality service with the launch of Ascott Unlimited, a full year campaign that will offer Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good. Navigating a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel, Ascott Unlimited marks Ascott’s ambitions to break new ground, and springboard to its next chapter of growth as a global hospitality company. Find out more about Ascott Unlimited at www.discoverasr.com/ascottunlimited.
About CapitaLand Investment Limited (www.capitalandinvest.com)
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 31 December 2023, CLI had S$134 billion of assets under management as well as nearly S$100 billion of funds under management (FUM) held via six listed real estate investment trusts and business trusts and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics, self-storage and data centres.
CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and commercial management, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.
As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.
SINGAPORE – Media OutReach Newswire – 29 February 2024 – Samsung Electronics Singapore today announced Team Blahaj from NUS High School of Mathematics and Science as the grand winner of the seventh edition Solve for Tomorrow competition in Singapore. Launched in August 2023, this program is designed to encourage secondary school students to think deeply about the social issues affecting their community and pioneer positive social change through technology and innovation.
Team Blahaj comprising of students Wang Zerui, Vincent Kwok, Christian Tan and David Chik will walk away with a total of $10,000 worth of Samsung products and $6,000 cash prize. NUS High School of Mathematics and Science will also be receiving a Samsung interactive digital whiteboard – the 55″ Flip Pro.
Team Blahaj testing their prototype, which allows visually impaired individuals to better understand and navigate their surroundings.
With the aim of revolutionising sensory experiences for visually impaired individuals, Team Blahaj has proposed a two-part solution that leverages advanced technologies such as AI to offer visually impaired individuals a detailed understanding of surroundings through auditory and tactile cues.
Software Solution: LiDAR and Object Detection – Utilising LiDAR and AI-driven object detection in smartphones, the solution can create an “obstacle map” with tactile representation and multisensory instructions. This enables users to navigate their environment seamlessly.
Hardware Solution: Real-time Tactile Interface – This interface translates the visual data captured by the device into tactile feedback, allowing users to “read” their surroundings through touch.
As many as 1.1 billion people were thought to have vision impairment in 2020, and this figure is predicted to increase by as much as 55% in the next 30 years, according to a report by the International Agency for the Prevention of Blindness (IAPB). The solution aims to transform the reality for visually impaired individuals and improve their overall quality of life by enhancing their ability to navigate their world independently and safely.
Sharing the inspiration behind their solution, Wang Zerui, Team Leader of Blahaj said: “Our inspiration stems from the desire to help enhance the quality of life for the visually impaired and even seniors in our community, including our own grandparents who are grappling with vision challenges. By leveraging modern technologies like AI, we hope to address the needs of these individuals and help forge a more inclusive society for everyone.”
“The ingenuity we see in this year’s Solve for Tomorrow competition reflects the limitless potential of our youths. Their dedication to addressing real-world challenges is inspiring and Samsung is proud to champion their efforts. We will continue to nurture our youths’ passion and creativity and provide them with the opportunities to transform their ideas into reality,” said Dennis Jang, President of Samsung Electronics Singapore.
Dennis was one of three judges who evaluated the students’ submissions in the final round of the competition. The other judges were Mock Yi Jun, Co-Founder and President of Advisory Singapore, and Kelvin Leung, Vice President of Openspace Ventures.
Driving Positive Social and Environment Changes with Technology and Passion
Other entries that stood out in this competition were the deep water culture-based hydroponics system by Team Glacial Planters from Pei Hwa Secondary School and the ElderGuard Innovations, a smart fall detection technology by Team Senior Safety Solutions from the School of Science and Technology, Singapore. Team Glacial Planters and Team Senior Safety Solutions won the 2nd and 3rd prizes, respectively.
Teams Glacier Planters and Senior Safety Solutions impressed the judges with their inventiveness, outstanding application of technology, and their solutions’ potential to bring positive change to our community and environment.
Team Work for Youths from Pei Hwa Secondary School with their Work For Youths Web idea to improve the financial situation of lower-income families also won the People’s Choice Award.
“These secondary school teams have truly exceeded my expectations. Despite their youth, they’ve displayed outstanding maturity, awareness, and critical thinking in identifying and tackling the different issues in our community. Their remarkable solutions underscore the influential role of youth and technology in driving positive societal change. Congratulations to all the winning teams for their outstanding ideas,” said Kelvin Leung, Vice President of Openspace Ventures.
Preparing the Next Generations for the Future Digital Economy
The World Economic Forum recently reported that 1.1 billion jobs are likely to be radically transformed by technology in the next decade[1]. It is crucial to prepare the younger generations for the future by ensuring that they stay on top of relevant technical skills and competencies from a young age.
“Our Solve for Tomorrow journey has been an exciting and enriching one, giving us the chance to tackle real-world problems and bring our ideas to life. The hands-on experience not only offered us a glimpse into what our future careers in computing and software development might entail, but it also allowed us to sharpen our problem-solving skills, foster teamwork, and apply our knowledge in practical ways.” Zerui highlighted.
“Technology is changing the way we live, work, and play. Platforms like Solve for Tomorrow give students the tools and opportunity to imagine solutions to the problems they see around them, and help students realise that they’re never too young to innovate for the future. The digital economy of tomorrow will be designed by young people of today, and we should equip them early with the skills and confidence they need to create a more sustainable and inclusive society for generations to come”, said Mock Yi Jun, Co-Founder and President of Advisory Singapore.
More details on the competition can be found in Appendix A.
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Appendix A
About Samsung Solve for Tomorrow The Solve for Tomorrow 2023 competition, launched on 23 August 2023, encourages students in Singapore to take a closer look at the social issues around them and think about how they can make a meaningful impact on the community. At its launch, more than 80 students, forming more than 30 groups of two to four, submitted a write-up of their ideas or solutions.
The platform also allows youth to express their creativity and passion while encouraging them to apply their knowledge and skills across multiple disciplines – including critical and design thinking, marketing and communications skills, technological expertise and STEM knowledge – when developing their ideas and solutions.
Competition Overview All students aged 12 years old and above and are full-time Secondary 1 – 5 students in Singapore are eligible to join the competition. For students in secondary schools with 6-year Integrated Programme (IP), only full-time students in Secondary 1 – 4 are eligible to participate. You can find the full list of eligible schools here.
A total of 10 teams were selected as finalists in December 2023. A virtual workshop on design thinking was organised for all the finalist teams.
The public also got to vote for their favourite idea on the Solve for Tomorrow website. The finalist team with the most votes won the People’s Choice awards.
Judging Criteria for Finalists
30%: Feasibility – Elaboration on how the solution can be created and implemented.
20%: Creativity – Innovativeness, uniqueness and originality of proposed idea.
25%: Technology – Elaboration on the use of technology involved and how it is used to solve the problem.
20%: Video – Flow and effectiveness of the video.
5%: Public Voting – Finalists’ ideas were posted online and the public can vote for their favourite idea.
Prizes
First Prize – Samsung products worth $10,000, $6,000 cash prize and Samsung’s interactive digital whiteboard – the 55″ Flip Pro worth S$4,806 – for the school
Second Prize – Samsung products worth S$7,000 and $4,000 cash prize
Third Prize – Samsung products worth S$5,000 and $2,000 cash prize
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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, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom at news.samsung.com.
HONG KONG SAR – Media OutReach Newswire – 29 February 2024 – Mead Johnson Nutrition Hong Kong (“Mead Johnson”) proudly announces its triumphant win in the Infant and Child Nutrition category at the HKB Greater Bay Area Enterprise Awards for the third consecutive year. The remarkable accomplishment this year is attributed to its groundbreaking innovation in the upgraded relaunch of its HK Enfinitas brand, which exemplifies its unwavering commitment to nourishing a better start in life for infants and children.
Mead Johnson strives to provide consumers with high-quality infant and child nutrition products through a professional and scientific approach. At the core of the HK Enfinitas brand is Mead Johnson’s dedication to delivering premium products inspired by breastmilk while supporting optimal growth and development in babies and young children.
Innovative products inspired by the benefits of breastmilk In line with its mission, Mead Johnson has relaunched the upgrade version of HK Enfinitas, leveraging world-leading global scientific research on breastmilk. The innovative line of products is enriched with HMOs, Lactoferrin and MFGM, providing better immunity for babies and helping mums to extend their love to babies.
“We take great pride in winning the HKB Greater Bay Area Enterprise Awards once again, which demonstrates our endeavour in providing high-quality products for infants and children grounded in a century of nutrition science,” said Chloe Ko, Marketing & Acquisition Director and Co-Head of Cross Border, Hong Kong & Taiwan, Mead Johnson Nutrition (Hong Kong) Limited. “We are confident that our ongoing efforts will continue to create value for our consumers, our company, and society as a whole, enabling us to fulfil our purpose of nourishing a better start in life.”
Driving brand awareness and loyalty The success of HK Enfinitas in the Greater Bay Area has been remarkable. The brand has garnered enthusiastic word-of-mouth and consumer recommendations on popular platforms such as WeChat, Xianhongshu, TikTok and various baby-focused social media channels. Notably, search traffic for the brand has surged by 29%, reflecting its growing popularity among parents in the cross-border market.
Moreover, Mead Johnson has received glowing feedback from health professionals and experts who endorse the safety and efficacy of their products. Since the launch of the new line, the company has witnessed an impressive 64% increase in early-stage users, highlighting consumers’ trust and confidence in the HK Enfinitas brand.
The prestigious HKB Greater Bay Area Enterprise Awards honours outstanding companies for their excellent performance and commitment to fostering regional collaboration, investment and development whilst demonstrating successful economic impact for the advancement of the Greater Bay Area.
Hashtag: #MeadJohnsonNutritionHongKong
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About Mead Johnson Nutrition (Hong Kong) Limited
Mead Johnson Nutrition has been established for more than a century. Since its founding in 1905, the renowned infant and child nutrition brand has led the way in developing science-based pediatric nutrition products, guided by the mission to nourish the world’s children for a better start in life. Currently, Mead Johnson Nutrition provides more than 70 products in over 50 countries.
Excellent quality has helped Mead Johnson Nutrition earn the trust of nutritionists and parents. Its dedicated and rigorous approach, continuous innovation, tireless pursuit of excellence, and caring feedback to the community have also helped establish a good brand image.
Mead Johnson Nutrition (Hong Kong) Limited has been in Hong Kong for over half a century. It provides Hong Kong parents with high-quality, science-based products, various parenting information, and professional advice, gaining trust and support from parents.
Mead Johnson Nutrition’s scientists and healthcare professionals are focusing their efforts on the formula for children with special nutrition needs. Mead Johnson Nutrition is one of the very few brands that insists on producing the formula for children with special needs, giving them hope.
KAOHSIUNG, TAIWAN – Media OutReach Newswire – 29 February 2024 – As head of a delegation comprising officials and local businesses to KUMAMOTO Industrial Revitalization EXPO 2024, Deputy Mayor of Kaohsiung Lo Ta-sheng officiated the opening of the Kaohsiung Pavilion and signed an MOU on innovative startups with the Japanese city. On top of attesting to the friendship between the two cities and expanding bilateral exchanges, Kaohsiung’s attendance at the expo also brought the city’s cutting-edge chipmaking technologies and highly competitive tourism-related food products to the international stage. Kumamoto Prefecture Governor Ikuo Kabashima made a special appearance to express gratitude to the Kaohsiung City Government and the hope that more business opportunities can be created, thereby fostering closer collaboration in the semiconductor supply chain and strengthening relations between Taiwan and Japan.
Kumamoto Governor Kabashima’s friendly chat with Deputy Mayor Lo at the Kaohsiung Pavilion
Deputy Mayor Lo said that since the establishment of sister city ties in 2017, Kaohsiung and Kumamoto have developed diverse cooperation in tourism, education, culture, and industry. Over this period, Kumamoto has sent a number of delegations to Kaohsiung for a first-hand look at the latter’s lantern festival celebrations, commuter pass program, and harbor-front development among others. During this ongoing visit, the Kaohsiung delegation aimed to learn more about Kumamoto’s advanced green energy and circular economy facilities that are quite suitable as points of reference for the city’s own urban planning. The newly signed MOU on innovative startups with Kumamoto marks the beginning of collaboration in promoting startup ventures between Taiwan and Japan. Kaohsiung expects to foster more exchanges and collaborations with other innovative startup clusters in Japan to assist the city’s own startups in creating an international presence and bring about a convergence of startups from other parts of the world.
Since 2016, Governor Kabashima said, Kumamoto has been confronted with a myriad of challenges: earthquakes, the COVID-19 pandemic, and flooding. Yet, industry in the prefecture has managed to revitalize itself on the back of public-private partnerships. KUMAMOTO Industrial Revitalization EXPO 2024 not only attests to success in having surmounted the said challenges but also heralds the promise of Kumamoto’s rising to a new peak on the industrial and economic fronts. Gratitude is warranted to the city government and businesses of Kaohsiung for their attendance, itself an act of solid support for Kumamoto’s recovery.
Group photo at the opening event of the Kaohsiung Pavilion
This EXPO gathers key semiconductor manufacturers from Japan, including Sony Semiconductor Manufacturing, a major global CMOS supplier. Sony’s representative also visited the Kaohsiung Pavilion, engaging in discussions to understand Kaohsiung’s semiconductor industry development policies and investment environment. The on-site interactions were enthusiastic.
Liao Tai-hsiang, director-general of the Economic Development Bureau, Kaohsiung City Government, said that the Kaohsiung delegation brought seven businesses to the Kaohsiung Pavilion for presenting their respective products at the expo. They were in turn approached by a good number of Japanese counterparts for business discussions. In addition to enhancing their brand visibility, 4DMEN Technology Co., Ltd., Taiwan Valqua Engineering International Ltd., Gongin Precision Ind. Co., Ltd., and Advanced Echem Materials Co., Ltd. learned more about Kumamoto’s semiconductor needs and broadened business reach accordingly, thereby helping deepen collaboration between the semiconductor sectors of Taiwan and Japan. Likewise, MAYUSHAN FOOD Co., Ltd., Joywell Cake Store Co., Ltd., and LE PONT took advantage of the occasion to present both Kaohsiung’s delicacies and their own latest offerings. Indeed, Kaohsiung’s attendance at the 2024 Kumamoto expo went a long way toward making the city’s brand names better known in Japan. The city’s meticulously planned series of exciting events also elicited a hearty response from Japanese businesses.
Hashtag: #Kumamoto #Kaohsiung #Japan
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According to many analysts’ forecasts, the price of gold may increase in 2024. Octa explains in the article what factors will influence the dynamics of the gold price and what will happen to the market this year.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 29 February 2024 – Gold is trading above $2,000 per ounce in early 2024. Analysts expect that even later in the year, gold prices may remain above $2,000 per ounce, reaching new historical highs. Among the factors favouring this are geopolitical uncertainty, the likely weakening of the U.S. dollar, and potential interest rate cuts. But before relying on these factors in the future, we must understand how they have influenced the past.
A new scenario of gold price dynamics
For the past 90 years, the value of gold has depended primarily on the volume of transactions between the Western and Eastern markets. Western countries determined supply and demand, while Eastern countries acted as counterparties to the transaction. Thus, when the volumes of physical gold purchased by Great Britain or Switzerland increased, its price grew, and vice versa. As a result, gold moved from the West to the East and back synchronously with the price decreasing or increasing.
The second factor that has historically influenced the price is the relationship between the price of gold and the real yield on U.S. government bonds. When the real yield decreased, bonds lost their appeal, and investors moved into gold. Once the trend reversed and real yields began to rise, investors returned to bonds.
However, since the end of 2022, both patterns have failed. The U.S. ten-year bond yield rose to 4.33%, above the 2022 highs, beating a 15-year record. Despite expectations, this didn’t lower the price of gold, which instead rose from November 2022 to August 2023 by 16%, from $1,643 to $1,954 per ounce.
The correlation between gold transaction volumes and the gold price also stopped working. Since the third quarter of 2022, the UK and Switzerland have been Netto-exporters of gold, i.e. sellers. According to the historical paradigm, this should also have been a reason for the price of gold to fall. However, as we can see, this is not happening. Thus, the West has not significantly influenced the pricing of precious metals.
What affects gold in 2024?
Escalating geopolitical conflicts are causing gold to rise in value. Due to the geopolitical events of 2022, dollar assets have become more risky for many countries. Central banks in the Global South, Eastern Europe, and the Middle East have been actively pursuing a policy of building up the gold part of foreign exchange reserves since the end of 2022. According to a World Gold Council (WGC) report, central banks bought 800 tonnes of gold in the first nine months of 2023, up 14% year-on-year. Excess demand from central banks has boosted the value of gold by 10 per cent in 2023.
‘It is the central banks’ purchases of gold that will act as the main driver of growth in 2024′, said Kar Yong Ang, the Octa financial market analyst. ‘If the trend continues and the level of gold reserves moves towards an average of 40% of the gold composition in reserves, that would mean an additional $3.2 trillion in the asset—a 25% rise in 2025, which would correspond to a price of $2,500 an ounce’, he added.
Gold has also seen another rise since the beginning of the Palestinian-Israeli conflict: since October 2023, it has added more than 8%. Hence, we can conclude that any aggravation in geopolitics will have a positive impact on gold.
The stabilisation of inflation will continue to support gold quotes. In 2022, global inflation reached its highest levels in decades. However, it is also a fact that inflation passed its peak at the end of 2023. Most analysts believe inflationary pressures will continue to ease in 2024.
‘Traditionally, the gold price has been negatively correlated with the inflation rate. The lower the inflation rate, the lower the interest rates on government bonds. As a result, the relative attractiveness of non-interest-bearing assets such as gold increases’, said Kar Yong Ang.
Developing economies de-dollarisation. Investors see gold as an alternative means of building savings and protection against inflation and currency risk. Demand for gold is increasing because Brazil, Russia, India, and China (members of BRICKS) seek ways to improve their currency independence.
The main factors affecting gold’s price are inflation, rising demand from central banks, de-dollarisation of developing economies, microeconomic situation, and geopolitics. The combination of these factors will create conditions for the growth of gold price in 2024—in the first half of the year, the cost of the precious metal may exceed $2,200 per troy ounce. In the second half of the year, the upward trend in gold is likely to continue, and gold may show a price of $2,300 per ounce, so the average price in 2024 will be $2,170.
Hashtag: #Octa #gold
The issuer is solely responsible for the content of this announcement.
Octa
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 already utilised by clients from 180 countries with more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.
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.
Octa has also won more than 70 awards since its foundation, including the ‘Best Educational Broker 2023’ award from Global Forex Awards and the ‘Best Global Broker Asia 2022’ award from International Business Magazine.
HANOI, VIETNAM – Media OutReach Newswire – 29 February 2024 –VinBrain, a pioneering AI HealthTech company within Vingroup conglomerate, has officially signed a commercial agreement with Global Fund to transfer Artificial Intelligence (AI) technology for Tuberculosis (TB) screening and detection as part of Vietnam’s National Tuberculosis Prevention Campaign. VinBrain is the sole entity chosen for this agreement with Global Fund in 2024. DrAid™ for TB Screening, a solution developed from VinBrain’s innovative and visionary approach to applying advanced technology, aligns with the stringent criteria of the Fund, contributing to community health and progress.
The accuracy of DrAid™ for TB Screening is up to 95%, reducing the time for disease detection and lowering screening costs.
The collaboration aims to transform TB detection using advanced AI technology, significantly reducing diagnosis time by analyzing X-ray images. This eliminates the need for extra TB bacterial PCR tests, cutting screening costs from US$50-60 to only US$1. Furthermore, the AI outputs its results in a file or QR code format, reducing environmental impact. Under this agreement, VinBrain plans to transfer the technology of 32 AI licenses, enables the screening of 1 million suspected TB cases starting in April 2024. This marks the largest scale initiative of its kind to date.
Notably, this initiative goes beyond existing efforts by enabling outreach to remote areas, overcoming geographical limitations in Vietnam or developing countries. The low cost allows to maximize budget utilization, ensuring that more individuals benefit from this program through advanced technology. This approach effectively addresses geographical barriers, making healthcare accessible to underserved regions by the ability to quickly identify abnormal TB regions in chest X-ray images within 15-20 seconds. Ultimately, this agreement contributes to the elimination of TB in Vietnam by 2035.
DrAid™ for TB Screening, with a sensitivity and specificity of up to 96%, has long been a reliable diagnostic tool for doctors in Vietnam. Dr. Pham Ngoc Thanh, Head of the Medical Imaging Department at Hai Phong Lung Hospital, said: “The accuracy of reading X-ray images from DrAid™ for TB Screening is up to 95% in about 1,000 suspected TB patients.”
“VinBrain, as one of the few AI HealthTech companies worldwide, has chosen to address TB because it aligns seamlessly with our company’s mission since its inception”, stated Steven Truong, Founder and CEO of VinBrain.
Developed entirely by Vietnamese experts using a dataset of 4 million machine learning samples, DrAid™ for TB Screening has been validated and successfully deployed in many hospitals nationwide by reputable independent organizations worldwide such as the Foundation for Innovative New Diagnostics and Friends for International Tuberculosis Relief (FIT).
This campaign represents a significant contribution to public health, particularly in Vietnam, which remains a high-burden country for TB and drug-resistant TB. With over 12,000-15,000 annual deaths and hundreds of thousands infected, primarily within economically disadvantaged communities, the need for effective solutions is paramount.
In line with VinBrain’s mission and collaborative spirit, DrAid™ AI-based TB screening solution is preparing to launch a version dedicated for children with a sensitivity of 90.76% and specificity of 89.45%. Hence, DrAid™ AI for TB Screening surpasses the World Health Organization’s (WHO) recommendation for AI-based TB screening, which specifies a sensitivity of ≥ 90% and specificity of ≥ 70%. This demonstrates that DrAid™ AI exceeds the WHO criteria by more than 20 points in specificity. This groundbreaking and pioneering technology supports comprehensive TB diagnosis for children aged 3 to 15 – a group often overlooked in conventional testing methods and prone to misinterpretation of chest X-rays. This advancement marks a significant milestone in the responsible application of AI for societal good, contributing to the advancement of Environmental, Social, and Governance (ESG) values on a global scale.
Hashtag: #VinBrain
The issuer is solely responsible for the content of this announcement.
About DrAid™
DrAid™, developed by VinBrain, is an innovative Artificial Intelligence platform that comprehensively supports doctors and healthcare administrators. It is currently deployed across 182 hospitals, aiding over 2,000 doctors and benefitting more than 2 million patients in Vietnam, the United States, and beyond. Within this ecosystem, the DrAid™ for TB Screening is designed for the diagnosis and screening of Tuberculosis (TB). Leveraging advanced AI algorithms, DrAid™ can accurately analyze chest X-ray images to detect TB-related abnormalities with an impressive 90% sensitivity and up to 96% specificity. For further details, please visit https://vinbrain.net/