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Bank of Laos Shuts Down 113 Currency Exchange Businesses

The Bank of the Lao PDR (BOL) issued a notice on Friday instructing 113 exchange businesses affiliated with commercial banks to suspend their operations.

Metalloinvest increases capacity of HBI-3 plant at Lebedinsky GOK

MOSCOW, RUSSIA – Media OutReach – 13 January 2023 – Metalloinvest has modernised the direct reduction plant at Lebedinsky GOK’s hot briquetted iron production facility No. 3 (HBI-3).

The upgrade increased HBI-3’s production capacity by 3%, to more than 2 million tonnes of briquettes per year. The overhaul made the equipment more reliable; in addition, it will result in less downtime during maintenance and repair of the direct reduction plant.

Metalloinvest’s investment in the project amounted to about RUB 2.5 billion.

“Hot briquetted iron is a popular product in Russia and in international markets. The modernisation of the plant provides additional guarantees of the strict fulfilment of all our obligations to our partners”, said Alexander Tokarenko, Lebedinsky GOK’s Managing Director.

In the modernisation process, 540 of the direct reduction plant’s reaction pipes were replaced. The new pipes have thick walls made of special heat-resistant steel, and they are also resistant to deformation and cracking under high temperatures. The new pipes also offer a longer service life, of up to 100 thousand hours.

The plant’s increased capacity is the result of an increase in the diameter of the pipes, which makes it possible to obtain more of the reducing gas necessary for the production of higher volumes of briquettes.

Hashtag: #Metalloinvest

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

About Metalloinvest

Metalloinvest is a leading metals and mining company, a world leader in proven iron ore reserves on a JORC-equivalent basis (15.4 billion tonnes). The company is the world’s largest producer and supplier of merchant hot briquetted iron (HBI) products, a low-carbon raw material used to produce green steel; Metalloinvest holds a leading position in the production of pellets, iron ore concentrate and high-quality steel.

Ticker (Bloomberg): METIN RU; official website:

Malaysian Shores Await You With Comprehensive Premium Wellness Packages

Malaysia Healthcare offers a first-of-its-kind Premium Wellness Programme that integrates comprehensive health screening with luxurious accommodations and sight-seeing opportunities in a convenient package.

KUALA LUMPUR, MALAYSIA – Media OutReach – 13 January 2023 – As a nation, Malaysia eagerly encourages the global population to prioritise preventive care by taking charge of their health and wellbeing. This crystallises Malaysia Healthcare’s focus on welcoming healthcare travellers who are actively seeking preventive care and wellness treatments in Malaysia’s private healthcare facilities.

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Malaysia Healthcare is at the forefront of this phenomenon with a health system that focuses on curative care and treatments as well as preventive health and wellness. This has led to the debut of Malaysia Healthcare’s Premium Wellness Programme, an industry-wide collaborative effort with numerous top-tier private hospitals, hotels and travel companies in Malaysia, which integrates comprehensive health screening offerings with world-class hotel accommodations and leisure tour itineraries. The programme also includes options for healthcare travellers to add on dental aesthetics and cosmetic procedures as well as other screenings such as Hepatitis C, cancer and heart screening.

“With Malaysia’s international borders fully opened again, we are excited to welcome travellers from across the globe to come over, relax and experience the amazing sights and sounds that our country has to offer. As Malaysia is home to many private healthcare establishments that offer comprehensive health screening packages, this is also an opportune time for you to catch up on your health screening,” said Mohd Daud Mohd Arif, Chief Executive Officer of the Malaysia Healthcare Travel Council (MHTC).

Over the past decade, Malaysia has gained a reputation as a safe and trusted healthcare travel destination for tourists across differing backgrounds and ages. This is due to the country’s unparalleled commitment to providing world-class quality healthcare that is easily accessible and comparatively affordable[1].

With a plethora of health screening options readily available that can be tailored to patients’ age, gender and current health conditions, healthcare travellers are spoiled for choice when it comes to selecting the healthcare establishment that best meets their preferences, needs and comfort. They will be able to plan their travel schedule properly with the access to medical services that virtually has little to no waiting time, and get their health screening done quickly and efficiently. Following that, healthcare travellers can choose to explore Malaysia’s attractions on a guided tour or at their leisure, while also enjoying healthy meals and other wellness activities back at the hotel.

In reinforcing the country’s position as a leading healthcare destination with outstanding medical capabilities, technologies and infrastructure alongside its globally acclaimed attractions, Malaysia Healthcare is ready to provide the best healthcare experience to all healthcare travellers. With the Premium Wellness Programme, healthcare travellers will be able to not only have a seamless, hassle-free vacation, but also keep up to date with their health screening routines and experience true care in a safe and trusted destination.

“Come embark on a healthcare journey with us and let us curate a seamless experience for you so that you are assured of quality healthcare for your peace of mind while enjoying the myriad of attractions that Malaysia has to offer,” concluded Mohd Daud.

To find out more about Malaysia Healthcare’s Premium Wellness Programme, please visit https://promo.malaysiahealthcare.org/medical-specialities/premium-wellness/.

For more information on Malaysia Healthcare and its services, please visit https://malaysiahealthcare.org/ or visit our social feeds at: www.facebook.com/MHTCMalaysia or at LinkedIn (Malaysia Healthcare Travel Council).

Hashtag: #MalaysiaHealthcare

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

About The Malaysia Healthcare Travel Council

The Malaysia Healthcare Travel Council (MHTC) is a government agency under the Ministry of Health Malaysia that has been entrusted with the responsibility of curating the country’s healthcare travel scene. Founded in 2009, MHTC works to streamline industry players and service providers in facilitating and growing Malaysia’s healthcare travel industry under the brand “Malaysia Healthcare” with the intended goal of making Malaysia the leading global healthcare destination. MHTC works closely with over 80 private healthcare facilities in Malaysia, who are registered members of MHTC.

Yanchang Petroleum International Introduces Shaanxi SASAC’s Subsidiary ChangAn HuiTong as Strategic Shareholder

HONG KONG SAR – Media OutReach 13 January 2023 – Yanchang Petroleum International Limited (“Yanchang Petroleum International” or the “Company”, together with its subsidiaries, the “Group”; Stock code: 346.HK) announced completion of the share subscription agreement with ChangAn HuiTong Investment (Hong Kong) Company Limited (“ChangAn HuiTong”), a wholly-owned subsidiary of Shaanxi Province State-owned Assets Supervision and Administration Commission (“Shaanxi SASAC”), under which ChangAn HuiTong subscribed for 3,667,009,346 new shares of the Company at a cash consideration of approximately HK$280,893,000. The proceeds will be mainly used for the development of the upstream oil and gas production business in Canada operated by Novus Energy Inc., a subsidiary of the Company.

The subscription price of HK$0.0766 per subscription share represents a premium of approximately 45.6% to the average closing price of approximately HK$0.0526 per share for the five consecutive trading days of shares immediately prior to the date of the subscription agreement. Upon completion of the subscription, ChangAn HuiTong will hold approximately 16.7% of the enlarged issued share capital of the Company, making it the second largest shareholder of the Company, while Yanchang Petroleum Group will remain the largest shareholder of the Company with an approximately 57.7% stake.

Mr. Feng Yinguo, Chairman of Yanchang Petroleum International, said, “We are delighted to have Shaanxi SASAC’s subsidiary ChangAn Huitong as our strategic shareholder. The proceeds will strengthen our financial position to propel our business development and expansion. We will continue to bolster the development of Novus’s oil and gas business, in order to improve our profitability and bring returns to our shareholders.”

Hashtag: #YanchangPetroleumInternational

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

Yanchang Petroleum International Limited

Yanchang Petroleum International is principally engaged in exploration, exploitation, and operation of oil and gas; and fuel oil trading and distribution. In its upstream operations, Yanchang Petroleum International possesses operating oilfields in Saskatchewan and Alberta, Canada, through its wholly owned subsidiary Novus Energy Inc., a Canadian enterprise. Novus engages in the business of acquiring, exploring for, developing and producing crude oil and natural gas. In its downstream operations, Yanchang Petroleum International is principally engaged in wholesale, retail, storage and transportation of oil products through its 70% owned subsidiary, Henan Yanchang Petroleum Sales Co., Limited, and which has been granted valid licenses for distribution and sales of oil products in China. The Group also established oil products trading companies in Zhoushan, Zhejiang and Shenzhen, China, respectively, for expanding its oil products trading business which become a new profit driver.

For details, please refer to

Vientiane Capital Records 4.83% Economic Growth in 2022

The mayor of Vientiane Capital has reported an annual economic growth of 4.83%, with the gross domestic product of the city crossing LAK 62 billion (USD 3 million).

Border reopening and easing travel restrictions bring a real sense of optimism to Hong Kong banking sector, finds KPMG China

The need to reduce cost amid a cooler economic outlook poses challenges for banks in 2023

HONG KONG SAR – Media OutReach – 13 January 2023 – The reopening of the border and easing of Covid-19 restrictions were major steps on path towards normality in Hong Kong banking sector, while the Chinese Mainland’s ongoing financial reform will solidify Hong Kong’s role as a financial hub for the nation. However, the sector will continue to cope with challenges posed by the global economic environment, such as high interest rates, rising inflation, and the need to reduce costs, according to KPMG’s latest report.

The Hong Kong Banking Outlook 2023 provides thoughts and opinions from KPMG experts on some of the key issues for banks in the year ahead, including regulatory developments in Hong Kong and the Chinese Mainland, business transformation and digitalization, as well as the rapidly evolving areas of ESG and virtual assets.

Jianing Song, Head of Banking and Capital Markets Sector, Hong Kong, KPMG China, says: “The easing of certain Covid restrictions in the Chinese Mainland towards the end of 2022 was extremely welcome news. The lifting of quarantine for arrivals and an end to the ban on outbound travel were major steps on the path towards normality. In Hong Kong, the increasing relaxation of pandemic-related restrictions in the second half of 2022 has been a major boost. With the ending of virtually all travel and social-distancing measures in January, there is now a real sense of optimism that in 2023 we will truly be able to get back to business.”

While banks are benefiting from increased margins attributed to higher interest rates, there will still be an increasing focus on cost reduction in the year ahead to deliver a lower sustainable cost-income ratio, and enhanced profitability, amid a cooler economic outlook.

Paul McSheaffrey, Senior Banking Partner, Hong Kong, KPMG China, says: “The ending of the low-interest-rate environment has been a shock for many businesses and investors leading to increasing bad debts. The US Fed is very focused on bringing US inflation under control through interest rates and will continue to do so aggressively. Most obviously now that interest rates are rising after many years of low margins, we expect margins to widen, which will benefit banks. However, Hong Kong’s economic environment will impact the amount of fee income that banks earn from wealth management activities by their customers.”

Digital innovation is one way that traditional banks can stand out. The year ahead could provide opportunities for big financial players to acquire interesting assets on the fintech side, helping them improve their own digital offerings while also ensuring that the most exciting fintech innovations reach the market.

Banks will have to keep up with regulatory developments in 2023. A key regulatory development in Hong Kong this year will be the introduction of a licensing regime for virtual assets service providers. Alongside new regulations, a key trend in 2023 will be greater use of market surveillance. With the rise of SupTech, supervisory technology, regulators can use data in a sophisticated way to ensure that banks and other financial operators are avoiding exposure to risks.

Hong Kong banks will also experience increased regulation when it comes to climate risk management. Increased disclosure is becoming mandatory and hence, banks with net zero commitments are expected to pivot their focus from reducing their own emissions to also financing emission reduction in the real economy.

KPMG China believes, as a global financial centre with unique inherent advantages, Hong Kong has served as the gateway throughout the Chinese Mainland’s opening up over more than 40 years, and that role will continue. While the year ahead will be challenging for the banking sector, Hong Kong’s standing as an international financial hub will not diminish.

International banks are continuing to find new opportunities in the Chinese Mainland as regulatory changes to open the sector over the past few years take effect. The range of products that foreign banks in China can offer, such as local public custody licenses, has increased. In addition, many licensing procedures have been simplified. However, rising compliance costs associated with these and other new regulations will add to the challenges for foreign banks in maintaining profitability and growth momentum.

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 144 countries and territories with more than 236,000 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.

Thailand to Introduce THB 300 Entry Fee For Foreign Visitors

This ‘land-entry fee’ is expected to be levied on all international travelers entering the country June onwards. 

Laos Stands Out in Miss Universe 2022 Preliminary Round

Social media users in Laos, the United States, and other countries have expressed their admiration for Miss Universe Laos 2022 Payengxa Lor after she participated in the preliminary round of the global pageant and advanced to the semi-finals.