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Skyrocketing Vegetable Prices Highlight Cost of Living Crisis in Laos

Lao Aussie Fresh Market in Vientiane Capital (Photo: LSFM)

A social media post about the rising prices of basic vegetables in Laos went viral on Monday, calling attention to a real cost of living surge in Laos. The post listed the prices of five common vegetables, all of whose prices skyrocketed in recent weeks.

ViewQwest strengthens commitment to Information Security Management standards with ISO 27001:2013 certification

Globally recognised compliance standard affirms best practices in Information Security Management Systems

SINGAPORE – Media Outreach – 16 Aug 2023 – ViewQwest – an award-winning Telecommunications and Managed Security Services Provider, has achieved ISO 27001:2013 certification – a globally recognised security compliance standard outlining best practices for organisations to manage information security risks through the creation of an information security management system (ISMS).

Following a rigorous audit and certification process, which is repeated annually, the certification was issued by TÜV AUSTRIA CERT GMBH from Akkreditierung Austria, the Austrian National Accreditation Body – a leading provider of testing, certification, auditing and advisory services.

“We are proud to be ISO 27001:2013 certified. By achieving this certification, ViewQwest has demonstrated our ability to identify and manage risks related to data and information security. It underscores our commitment to security best practices and, most importantly, to protect our clients’ company and customer data,” said Vignesa Moorthy, ViewQwest Group CEO.

The certification affirms that ViewQwest has established and implemented, and maintains and continually improves their information security policies, procedures and systems to safeguard non-public (confidential and internal) data such as customer data, financial data and internal communications from external breaches or being leaked to the public, in compliance with ISO 27001 standards.

ISO 27001 is the best-known and most globally recognised standard for information security management systems, data protection, cyber resilience, and their requirements. Through the implementation of ISO 27001 standards, organisations take a systematic approach for managing the security of vital assets and sensitive information in a way that minimises risks and ensures confidentiality and integrity.

For more information on ViewQwest, please visit https://corporate.viewqwest.com/
Hashtag: #ViewQwest

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

About ViewQwest

ViewQwest is an award-winning Telecommunications and Managed Security Services Provider. Headquartered in Singapore and with operations in Malaysia, the Philippines, Hong Kong, and Vietnam, it is a trusted partner of global MNCs and top companies in North and Southeast Asia. As a certified Managed Security Services Provider with expertise in leading cybersecurity technologies, it helps build and manage high-performing network and security infrastructure for the digital enterprise, securely connecting corporate sites and workforces across the world.

ViewQwest also provides Premium Residential & Business broadband & cybersecurity services in Malaysia and Singapore, and has been recognized as Singapore 2023 Broadband Telecom Provider of the Year by the Asia Telecom Awards.

For more information, visit

China Lilang Announces 2023 Interim Results

Revenue Up by 6.7% to RMB1,491 Million Net Profit Amounts to RMB270.5 Million Interim Dividends of HK18 Cents Per Share

HONG KONG SAR – Media OutReach – 16 August 2023 – China Lilang Limited (“China Lilang”, or the “Company”, together with its subsidiaries, the “Group”; stock code: 1234) today announced its interim results for the six months ended 30 June 2023.

Mr. Wang Dong Xing, Chairman and Executive Director of China Lilang, said:

“In the first half year, the society in Mainland China has returned to normalcy and the economy has gradually emerged from COVID-19’s impact, with physical stores resuming normal operation and the consumer goods retail market recovering. We have also benefitted from the lifting of lockdown and control measures and the resumption of social activities, and have used the opportunity to upgrade Lilang’s brand strategy. The store image renovation works, which were previously delayed by the pandemic, have continued to proceed. We hope to present a more fashionable and younger brand image with a new store image, in a bid to capture greater attention and gain popularity among consumers. During the reporting period, total retail sales of the Group’s products maintained positive growth, achieving single-digit growth year-on-year.”

For the six months ended 30 June 2023, the Group’s revenue increased by 6.7% year-on-year to RMB1,491 million. Profit from operations was up by 3.9% to RMB305 million. Gross profit margin was 51.8%, an increase of 3.1 percentage points year-on-year. The growth was mainly attributable to the relaxation of lockdown and control measures and the resumption of social activities. The smart casual business, which has higher gross profit margins, showed significant growth and its sales proportion also increased correspondingly. During the same period last year, the Group cleared off-season inventories by reducing prices, following a decision to cease the development of professional sports shoes. Hence, the Group was able to achieve a healthier off-season product inventory level this year. Such decrease in off-season inventory allowed the Group to write back some of its inventory provision. In addition, since the price increase began mainly in the second half of 2022, the unit sales price in the first half of 2023 was therefore higher than the same period last year. Net profit increased by 5.2% to RMB270.5 million, while net profit margin declined by 0.3 percentage point to 18.1%. Earnings per share was RMB22.6 cents.

During the reporting period, the Group maintained a healthy financial position with sufficient cash flow. The Board of Directors has resolved to pay an interim dividend of HK13 cents per share (2022 Interim: HK13 cents) and a special interim dividend of HK5 cents per share (2022 Interim: HK5 cents), maintaining a stable payout ratio.

The Group has established four sales channels following a reform of the sales channels, namely: core collection distribution and consignment models, direct-to-retail model of the smart casual collection, and e-commerce. The Group currently operates 2,394 core collection stores, 39% of which adopt the consignment operation model. During the reporting period, the Group continued to support distributors by optimizing the retail network. The Group also optimized store locations and space utilization of its smart casual business, while store renovations in Jiangsu, Qingdao and Wuhan continue apace, significantly improving sales efficiency as a result. The Group has a total of 2,646 retail stores nationwide, of which 252 are direct-to-retail stores, while 842 stores are in shopping malls, accounting for approximately 31.8% of the total store count and approximately 34.3% of total retail floor area. The Group also has 60 outlet stores. During the reporting period, both inventory balance and off-season inventory decreased, mainly because the Group added outlet stores and online retail channels. That, plus the commencement of operation of the logistics center, has raised the efficiency of inventory turnover, and the inventory of core collection and smart casual direct-to-retail stores continue to improve.

New retail remains one of the Group’s top priorities for business development, and the Group has been actively promoting the business of its LILANZ core collection and smart casual collection. These businesses are operated through the online-only sales model of its direct-to-retail online stores, as well as the ordering-online-while-picking-up-offline model of WeChat Mall. During the reporting period, the Group organized sales promotions through its direct-to-retail online stores, and launched the ice-type polo shirt hot products, during the 618 E-commerce Shopping Festival, boosting retail sales of online stores by approximately 24% year-on-year. In addition, the Group utilized its WeChat business platform to set up stores in WeChat Mall and provide customer relationship management services, taking advantage of the social platform’s interactive features to drive store efficiency and clear off-season inventory. Sales from the WeChat Mall business dropped year-on-year due to the slower off-season inventory clearance. During the reporting period, consolidated new retail sales only grew by 2.8%, but profit margins increased significantly.

In terms of brand management and promotion, the Group has focused on developing China Lilang’s core ‘minimalist menswear’ brand concept, which combines fashion with culture and art, creating distinctive product features with original designs. The Group has also developed quality iconic items to improve product quality and performance, optimized the store network, and strengthened management of the retail end, with the objective of revealing Lilang’s fashion aesthetics and leading a new trend of simple menswear with a multi-pronged approach. As for the promotion of the smart casual business, the Group has appointed celebrities as spokespersons and conducted large-scale promotional campaigns, which effectively improved brand awareness and reputation. In addition, the renovation work involving the core collection’s seventh-generation store image has gradually expanded to existing stores, further enhancing the brand image and consumers’ shopping experience.

Looking at the second half of 2023, in light of multiple uncertainties – including a complex international environment, weakening Mainland export demand, continuous sluggish real estate market, slowdown in economic growth, and declining employment rates – the central government will vigorously drive economic growth and encourage consumption to support the retail market. Thus, the outlook for the retail market remains cautiously optimistic. The Group will also continue to adopt a flexible sales strategy, strive to enhance its brand image, consolidate its store network, drive new retail development, maintain healthy channels and reduce inventory risks, which will help the Group to outperform industry peers.

In the second half year, the Group will remain cautious in opening new stores and adhere to its goal of net increase of 100 stores for the entire year of 2023. The goal is expected to achieve in the second half of the year. In addition to opening more stores in high-quality shopping malls in provincial capitals and prefecture-level cities, some of the existing shopping mall stores will be relocated to better locations or larger spaces in malls to improve store efficiency. More outlet stores will also be opened as a channel for clearing inventory. In addition, China Lilang will continue to make store-related adjustments in Jiangsu, Qingdao and Wuhan in the second half year.

For new retail, the Group will continue to promote e-commerce, using online stores as one of the key platforms for new product launches. In the second half year, the online stores will launch more e-commerce special edition products, while unique and iconic items will be launched online before the Double 11 Shopping Festival to meet consumer demand for personalized clothing and better wearing experiences, and thereby improve the gross profit margin and create new growth drivers for the full-year results. The Group will also drive sales growth in different locations through live streaming on Douyin. These initiatives are aimed at fostering consumer loyalty and improving performance. Moreover, the Group plans to invest in intelligent workshops in the second half year to further enhance its ability to quickly replenish orders and to implement the product launch on e-commerce channels.

China Lilang will continue to leverage the mutual exchange of inventory and the complementary advantages of WeChat Mall stores and physical stores to optimize channels, improve the store network, and increase store efficiency and product sell-through rate, so as to drive steady sales growth and achieve the target of 10% total retail sales increase in 2023. In addition, its membership program will be enhanced by organizing more diverse membership activities, as well as offering exclusive offers and discounts. The Group will also fully strengthen the retail information system, extend the retail space through WeChat mini-programs and other means, and connect online with offline platforms to expedite product planning, innovative research and development, upgrade of clothing pattern technologies, and product launches.

Mr. Wang Dong Xing, Chairman of China Lilang, concluded: “In the face of multiple challenges, China Lilang will continue to respond proactively, be cautiously optimistic, adopt a flexible sales strategy, consolidate its store network, accelerate the development of new retail, and enhance its brand image and sales efficiency in order to maintain stable performance growth.”

Hashtag: #ChinaLilang

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

China Lilang

China Lilang is one of the leading PRC menswear enterprises. As an integrated fashion enterprise, the Group designs, sources and manufactures high-quality business and casual apparel for men and sells under the LILANZ brand across an extensive distribution network, covering 31 provinces, autonomous regions and municipalities in the PRC.

Drought Conditions in Laos Likely to Affect Electricity Export to Thailand

Xayaburi Dam.

According to the Electricity Generating Authority of Thailand (EGAT), electricity supply from Laos to Thailand is expected to be insufficient this year due to drought conditions lowering water levels in the Mekong River.

Laos and Australia Launch Sustainable Energy Partnership

Australian and Lao PDR government representatives gathered with technical experts in Vientiane for the inaugural Program Steering Committee (PSC) meeting of the Laos-Australia Sustainable Energy Partnership (LASEP) on 10 August. (Photo: Australia in Laos)

On 10 August, Australian and Lao government representatives gathered with technical experts in Vientiane for the inaugural Program Steering Committee (PSC) meeting of the Laos-Australia Sustainable Energy Partnership (LASEP).

Lao Prime Minister Visits Flood-Affected Areas in Savannakhet

Lao Prime Minister Visits Flood Affected Areas in Savannakhet
Prime Minister Sonexay Siphandone and his delegation in front of some essential supplies.(Photo: Pasaxon)

Lao Prime Minister Sonexay Siphandone, accompanied by his delegation, recently visited flood-affected regions in Champhone District, Savannakhet Province, to evaluate the situation and extend support.

Hang Lung Teams Up with Green Startup and NGO to Shape Circularity in Hong Kong

The first phase of its holistic resource utilization scheme has diverted nearly 140,000 kg of municipal waste from landfill, avoiding more than 510 tons of carbon emissions and benefiting 14 NGOs

HONG KONG SAR – Media OutReach – 16 August 2023 – Hang Lung Properties (SEHK stock code: 00101) (the “Company” or “Hang Lung”) today announced its partnership with Hong Kong-based green startup Sustainable Office Solutions (SOS) and Crossroads Foundation, a local non-profit serving global needs, to implement a holistic resource utilization scheme for Hang Lung’s Hong Kong Office Rejuvenation Project. The first phase of the collaboration has seen over 3,200 office resources being reused, redistributed, or recycled, successfully diverting nearly 140,000 kg of municipal waste from landfill and avoiding more than 510 tons of carbon emissions—the equivalent of the carbon emissions generated by over 3,000 flights between Hong Kong and Singapore.

Hang Lung Properties teams up with SOS and Crossroads Foundation to divert nearly 140,000 kg of municipal waste from landfill through the first phase of its resource utilization scheme for Hang Lung's Hong Kong Office Rejuvenation Project (From left to right) Mr. Markus Oetiker, Global Distribution Operations Manager of Crossroads Foundation, Ms. Janet Poon, Director – Human Resources & Administration of Hang Lung Properties, and Ms. Pamela Hinton, General Manager of SOS
Hang Lung Properties teams up with SOS and Crossroads Foundation to divert nearly 140,000 kg of municipal waste from landfill through the first phase of its resource utilization scheme for Hang Lung’s Hong Kong Office Rejuvenation Project
(From left to right) Mr. Markus Oetiker, Global Distribution Operations Manager of Crossroads Foundation, Ms. Janet Poon, Director – Human Resources & Administration of Hang Lung Properties, and Ms. Pamela Hinton, General Manager of SOS

Since May 2023, Hang Lung has been undergoing a major rejuvenation project for its Hong Kong offices, which aims to create workplaces that promote wellness, engagement, and a collaborative culture. With sustainability being one of the core values of the Company, thorough reviews were conducted to identify ways in which to minimize the Project’s environmental impacts and promote employee and community wellbeing. Measures implemented as part of the scheme include:

1) Staff Take Home Program: Hang Lung’s Hong Kong employees were encouraged to take home well-maintained office furniture and electronic appliances, including task chairs, pedestals, computer monitors and ovens, for free. The first round of the program was well-received, with close to 90 staff members participating.

2) Donation to NGOs: 182 items of office resources were donated to 14 NGOs in the initial phase of the collaboration, including Crossroads Foundation, Oxfam Hong Kong and Hong Kong PHAB Association, spanning different NGO sectors in Hong Kong. These assets help support the planning and implementation of their community projects.

3) Reuse: Hang Lung is currently using numerous recycled office resources at its swing office, while others are being stored for reuse upon completion of the Project.

4) Upcycle: Resources that cannot be reused, such as wooden desktops, will be processed and transformed into items like office panels for secondary use.

5) Recycle: Other remaining non-reusable resources will be sent to local recyclers for treatment to maximize their circular economy benefits.

Ms. Janet Poon, Director – Human Resources & Administration of Hang Lung Properties, said, “Sustainability is one of our core values, and we are committed to embedding sustainable practices across all our operations and workplaces. We are delighted to see the positive impacts we have achieved in both the environmental and social spheres through our collaboration with SOS and Crossroads Foundation. We have not only optimized the utilization and management of our existing office resources but have also enhanced the wellbeing of our employees and the wider community. We hope this initiative will become a best practice for our industry and help accelerate the transition to a circular economy in Hong Kong.”

Ms. Pamela Hinton, General Manager of Sustainable Office Solutions, said, “We are delighted to have the opportunity to collaborate with Hang Lung on providing a sustainable office resource inventory management solution. This collaboration effectively promotes resource recycling, drives a circular economy, and contributes to the betterment of the community. We look forward to this partnership serving as a catalyst for other businesses to adopt circular economy principles when managing various resources.”

Mr. Markus Oetiker, Global Distribution Operations Manager of Crossroads Foundation, said, “This partnership is a wonderful example of how different parties can come together to positively impact the community. We were so pleased to see the office furniture matched with local NGOs to help refurbish their service centers. It has been such a pleasure to play our part alongside Hang Lung and SOS in redirecting these resources into the hands of those in need.”

Hashtag: #HangLungProperties

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

About Hang Lung Properties

Hang Lung Properties Limited (stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.

At Hang Lung Properties – We Do It Well.

For more information, please visit .

About Sustainable Office Solutions (SOS)

SOS specialises in office inventory management and provides a tailored and streamlined service to support businesses in their transition towards a resource-efficient, circular and sustainable economy. Through sustainable solutions that optimise redistribution, repurposing, recycling and reuse, SOS helps corporations, property managers and developers to maximise the value of their office assets while minimising waste during renovation and relocation, with an overall waste diversion rate of 95%.

For more information, please visit .

About Crossroads Foundation

Crossroads Foundation is a Hong Kong based, non-profit organisation serving global need, staffed entirely by volunteers. Crossroads started in 1995 and believes that, in a broken world that sees too much suffering, they should do all they can to connect people who are in need with those who can provide help. As well as collecting and redistributing donated goods, they offer experiential simulations on issues like refugees, urban poverty and disability, advocate fair trade through their shop, and help companies find non-profit projects to partner on.

For more information, please visit .

Luang Prabang to Host Vietnam Culture and Tourism Week in October

Eight Vietnam Northwestern Provinces, HCM City to Hold First Culture, Tourism Week in Luang Prabang on 25-27 October 2023. (Photo: KPL)

Eight northwestern provinces of Vietnam and Ho Chi Minh City will be organizing a Culture and Tourism Week event in Luang Prabang for the first time, from 25-27 October.