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Teledyne e2v and Thorium Space announce the development of a collaborative project which will be a game changer for the satellite market

GRENOBLE, FRANCE – Media OutReach – 14 September 2022 – Thorium Space, a company in the advanced satellite communication systems sector, has officially started work on a joint project in cooperation with Teledyne e2v Semiconductors, a global company in the field of advanced technologies used in the aerospace and defence sector.

The fact that such a recognized company with a global reach decided to cooperate with an emerging Polish company is indicative of the leading-edge solution proposed by Thorium Space. Work will focus on the definition and development of state-of-the-art key elements of an advanced communication payload that will offer more efficient use of the spectrum and satellite payload resources.

This will lead to genericity of the hardware with the ambition of ultimately reducing costs and production time. The scope of application opens the door to the so-called intelligent telecommunication payloads, resulting in unprecedented operational flexibility. Technically, the so-called full Digital Beam Forming (DBF) creates transmitting and receiving beams directly in the digital domain, working on the full Ka band (17.7-20.2 GHz and 27.5-31.0 GHz).

This is a game changer in the satellite market. The system provides scalability and flexibility and applications developed and updated in orbit, which is another innovation. The first solutions will be available on the market in 2024.

As part of the cooperation, Teledyne E2V will deliver the elements which are jointly specified with Thorium Space, which will be incorporated in DBF Ka Payload – a full digital communications payload along with the associated processing resources, offering a powerful solution for geostationary applications with 15 years of continuous operation and adapting to the market needs.

Teledyne e2v Semiconductors SAS specializes in the production of advanced semiconductors. It is part of Teledyne e2v, a world leader in specialized components and subsystems for innovative solutions in aerospace and defence applications. Teledyne e2v products have been used, among other things, for the Hubble Space Telescope, the Gaia project and the transmission of images of Mars by the New Horizons spacecraft. The company’s customers include Airbus, Boeing, Raytheon, Northrop Grumman, Thales group and others. Teledyne e2v belongs to Teledyne Technologies Incorporated, an industrial conglomerate employing almost 15,000 people. The company supplies aerospace and defence electronics, digital imaging products and software, monitoring instrumentation for marine and environmental applications, communications products in harsh environments, and satellite communication subsystems.

Thorium Space Sp. z o.o. is a company in the sector of advanced satellite communication systems (Space Advanced Communication Company). It deals with the design of innovative technological solutions in the field of construction of space vehicles and intelligent array antennas, applicable in the space industry and the defence sector. It consists of an interdisciplinary team of nearly 40 space technology engineers and specialists in related fields. It has offices in Wrocław and Warsaw. In 2021, Thorium Space was chosen as one of the 10 most innovative space technology start-ups and awarded as one of the 5 Top Space Tech Global Manufacturing Solutions of the 288 companies surveyed. (https://www.startus-insights.com/innovators-guide/discover-5-top-space-manufacturing-solutions/)

Hashtag: #Teledynee2v

Thai Man Detained at Laos Border for Carrying Shotgun

A 42-year-old Thai man was arrested for violating Article 58 of the Customs Law, which prohibits the carrying, sale, and possession of such a weapon.

Cheng & Cheng reveals the importance of balancing interests of HKIRD in Transfer Pricing matter

HONG KONG SAR – Media OutReach – 14 September 2022 – After implementing Transfer Pricing Law for a few years, Hong Kong Inland Revenue Department is now ready to impose more Transfer Pricing Audit on Hong Kong Tax Payers and request taxpayers to prepare and submit Transfer Pricing Documentation. Cheng & Cheng Taxation Services Limited (“Cheng & Cheng Taxation”) will further reveal the importance of balancing interests of HKIRD in Transfer Pricing, with the below discussion areas:

  • two common scenarios when the IRD carries out transfer pricing adjustment in Hong Kong;
  • the penalties of lacking proper documentation; and
  • the reasons of preparing benchmarking studies.

    Renowned for being one of the lowest tax rate jurisdictions, and for its conducive business environment, Hong Kong is a place in which multinational corporations (MNCs) tend to allocate more profits in order to lower the overall group effective tax rate. The Hong Kong Inland Revenue Department (IRD) definitely welcomes this. However, with the adoption of Automatic Exchange of Information (AEOI), tax filings submitted to the IRD may be shared with other tax authorities. As such, the transfer pricing policies of MNCs must balance the interests of all relevant tax authorities, not limited to the IRD. Henry Kwong, Tax Partner of Cheng & Cheng Taxation said “MNCs should not overlook the importance of Hong Kong in their Transfer Pricing Policy, from both a compliance and tax planning perspective.”

    There have previously been occasions where a group sacrificed Hong Kong in their transfer pricing policies. However, with the implementation of the transfer pricing law in July 2018, tax adjustments can now be made to Hong Kong entities with a less than reasonable level of profits. More importantly, penalties up to the amount of tax undercharged can be imposed in the absence of proper transfer pricing documentation.

    Scenario 1: Assigning big losses to Hong Kong entities during a recession

    Thanks to the closure of border due to Covid-19 pandemic and skyrocketing inflation across the globe, the year 2022 has undoubtedly been a difficult one for MNCs and Mainland China Enterprises. It can be a real headache for in-house tax specialists to apply their transfer pricing policies as the overall profit margin of the group plunges. As the group will have already entered into either advance pricing arrangements or informal agreements with tax authorities in other operating jurisdictions, they may still have to assign a certain percentage of the profit margin to those jurisdictions, despite the profit slump. In the past, a group was left with no alternatives but to allocate substantial losses to Hong Kong entities of the group. This is now impossible since the IRD is likely to impose transfer pricing adjustments and will not accept the losses.

    Scenario 2: Hong Kong as a collection and payment hub

    Hong Kong enterprises are commonly assigned to be the “collection and payment hub” of a group to collect and make payments on behalf of its group companies in other jurisdictions to get around foreign exchange control restrictions. From an accounting perspective, these transactions may be booked as sales and cost of sales without any markup. These break-even transactions lower the overall operating profit margin of the Hong Kong entity despite a “nil” effect on the absolute amount of profit. However, the corporation’s lower overall profit margin may trigger the attention of tax authorities, especially when the margin is lower than the industry average.

    Importance of proper transfer pricing documentation in Hong Kong

    As in other jurisdictions, transfer pricing documentation in Hong Kong comprises Master File, Local File and Country-by-Country (CbC) reporting. While following the universal threshold of group consolidated revenue of EUR750 million for a CbC report, the threshold for Master File and Local File in Hong Kong is rather complicated (see Table 1).

    Table 1: Threshold for Master File and Local File

    Criteria (A): Based on size of business (any two out of the three below) Threshold
    (i) Total annual revenue > HK$400 Million
    (ii) Total assets > HK$300 Million
    (iii) Employees >100
    Criteria (B): Based on related party transactions (any one out of the four below) Threshold (HK$)
    (i) Transfer of properties (excludes financial assets / intangibles) > HK$220 Million
    (ii) Transactions in financial assets > HK$110 Million
    (iii) Transfers of intangibles > HK$110 Million
    (iv) Any other transactions (e. g. service income /royalty income) > HK$44 Million

    On the other hand, taxpayers should closely adhere to the Deadline of preparing the Transfer Pricing Documentation (see Table 2).

    Table 2: Deadline of preparing Transfer Pricing Documentation in Hong Kong

    Transfer Pricing Documentation Deadline
    Country-by-Country Report Notification 3 Months after the Accounting Year-End
    Country-by-Country Report Filing 12 Months after the Accounting Year-End
    Master File & Local File 9 Months after the Accounting Year-End

    As mentioned above, failure to prepare proper documentation can trigger not only administrative fines, but also penalties up to the amount of tax undercharged in the case of transfer pricing adjustments. More pertinently, no tax credit will be granted in other tax jurisdictions for such penalties.

    Applying the same logic, there is a growing trend for MNCs to prepare benchmarking studies, even when their size does not meet the required threshold, for the following reasons: –

    Tax authority challenge

    • The IRD is increasingly eager to request a benchmarking study, even if the corporation does not meet the threshold for preparing transfer pricing documentation, especially in the case of high gross profit fluctuation;
    • Field investigation by the IRD can be a painful process. A benchmarking study is often very helpful in reaching a compromise settlement, such as in the case of failure to maintain proper accounting records.
    Tax advisory on operational change

    • Thanks to its low tax rate, Hong Kong is still a place in which many corporations prefer to allocate more profits. Given the current global situation, many MNCs are considering to shift their location of operations. Making use of this opportunity, they are eager to set up substance in Hong Kong to justify their profit allocation.
    Initial Public Offering in Hong Kong

    • Authorities now customarily request benchmarking report from corporations wishing to list on the Hong Kong Stock Exchange in order to assess their tax risk after getting listed in Hong Kong.

    As a last piece of advice, with the implementation of the Common Reporting Standard (CRS) and AEOI, global tax authorities are more intent on targeting foreign corporations operating in local tax jurisdictions, normally in the form of a Permanent Establishment (PE). While the arguments about the existence of PEs continue, transfer pricing is a preferred means of resolving PE tax disputes. As such, it is essential that MNCs review their current operations and update their transfer pricing policies to reduce their transfer pricing risk.
    Hashtag: #Cheng&ChengTaxationServices

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

    About Cheng & Cheng Taxation Services

    This article is by Henry Kwong, Tax Partner of Cheng & Cheng Taxation Services. Cheng & Cheng is one of the top 20 accounting firms in Hong Kong, with over 300 staff in Hong Kong and the PRC. We are the principal auditor for 15 listed corporations in Hong Kong and the tax advisor for over 80. We specialise in providing Hong Kong, PRC and international tax advisory services, as well as transfer pricing services to international clients. If you would like to know more about transfer pricing in Hong Kong, or seek tax advice from our tax experts, please do not hesitate to contact us by email ) or phone (+852 3962 0114).

    Village House to Giveaway Free Ville-Jiro-kun themed NFT

    TOKYO, JAPAN – Media OutReach – 14 September 2022 – Village House, an innovative leader in real estate, in Japan, through renovating Danchi and affordable living. Village House is well known for offering apartments for rent with no deposit, no renewal fees, no key money, and no handling fees. Village House is also known for their cute mascot, Ville-Jiro-kun.

    Ville-Jiro-kun NFT

    For the first time in Japan, Village House is creating a limited number of Ville-Jiro-kun NFTs. A Non-Fungible Token (NFT for short) is a piece of digital art with a unique digital signature to prove ownership. Our cute mascot inspired NFTs are collectible digital versions of the beloved mascot, Ville-Jiro-kun, and we’re giving them away to a few lucky fans on Instagram and Facebook beginning July 2022.

    How to enter for a chance to win – make sure you are following @villagehousejp on Instagram, comment or dm us your favorite Ville-Jiro-kun and share the NFT post on stories any time between July 6 through July 13 from your Instagram account. Alternatively, you can comment your favorite Ville-Jiro-kun on the campaign post on Facebook and visit our Facebook page, also named @villagehousejp.

    By October 7th, we’ll select 10 lucky winners who will receive the unique Ville-Jiro-kun NFTs to add to their digital wallet and do what they please within the confines of the giveaway rules. For full giveaway instructions, rules and NFT ownership guidelines please click here: Giveaway Rules

    If you do not want to miss out on this historic giveaway make sure to have an Instagram account, or Facebook account, and a Solana NFT compatible Digital Wallet to collect your prize. Be sure to participate for a chance to win this unique Japanese NFT.

    Hashtag: #VillageHouse

    About Village House

    Village House provides high-quality rental properties with easy procedures at affordable prices in Japan. Starting from ¥20,000 per month, explore our promotions and discover a new life in one of our low-cost units today or follow us on Instagram @villagehousejp and Facebook.

    “SHIP” is the First-Ever “NFT Art Film” that Combines NFT Art and Entertainment

    SINGAPORE – Media OutReach – 14 September 2022 – Art Tokyo Global (“ATG”), a Singapore company, announced the completion of SHIP – the world’s first immersive NFT art film. Making use of user interactivity techniques, the film sets a new milestone for the movie industry, enabling viewers to interact with the film in cinemas or from the comfort of their own homes.

    Featuring 221 NFT artworks across 14 scenes, SHIP showcases the work of over 80 emerging and established Asian artists. Among these is a unique collection of 5 art pieces -Shizuku Shizuku by renowned Japanese artist and architect, Mr. Kengo KUMA, who was listed on Time magazine’s list of the World’s 100 Most Influential People in 2021.

    The film seamlessly blends the genres of art, graphics, performance, music and technology into a coherent experience. Viewers will be treated to a multi-sensory display of cutting-edge NFT art, spectacular sound-tracking, moving stories of humanity, and will even have the opportunity to purchase the artworks that feature in the film right from their seats. Catered to both connoisseurs and new fans alike, SHIP presents an exciting new cultural experience and opportunity within the entertainment sector.

    The film features novel cinematographic techniques, such as advanced volumetric photography to construct virtual spaces from images taken by 2D cameras. During the film production, the director used 150 to 400 cameras to film each scene to deliver the immersive experience as a vehicle for rich visual storytelling.

    SHIP’s narrative builds on the speculative geological theory of Amasia – a coming together and merging of the continents into a single entity in the distant future, emphasizing the importance of seeking connection with others and meaningful cross-cultural dialogue in our increasingly fractured present. According to Mr. Naohiko KISHI, Chairman and Executive Producer of ATG, “In this film, the viewers become a crew member of a ship that transcends time and space. Set across Greece, Egypt, China and Japan, SHIP navigates the viewers through a history of beauty and conflict that humanity has repeatedly caused; where cultures flourished on each of the five continents separated from a single landmass 250 million years ago, conflicts followed.”

    The global premiere of SHIP has been scheduled for late November 2022 in Singapore, and a worldwide public release is scheduled for early 2023 in cinemas and across streaming platforms.

    Hashtag: #ArtTokyoGlobal #ATG

    OPPO Screen Protection Plan Gives Back to Global Users with Care & Reach Services

    SHENZHEN, CHINA – Media OutReach – 14 September 2022 – From June 30 to August 30, 2022, considering the actual pain points of users when using phones, OPPO launched a “Screen Protection Plan” event globally. The campaign covers new and old phone models such as Find X, Reno, R, A series, etc. And OPPO users can enjoy up to 50% discount and abundant forms of screen-care activities at the OPPO Official Service Center.

    With the two-month “Screen Protection Plan” promotion event, OPPO has solved some of the painful problems for users with screen discounts, screen-care method teaching, and other caring services. The response to the event was overwhelming as soon as it was launched.

    Concerned about the repair demand for screen replacement from all over the world, this year, it’s the first time that OPPO jointly organized this global promotion event over thousands of service centers in 10 countries and regions worldwide, and is committed to letting more users enjoy OPPO’s caring screen replacement service. OPPO has strived to create a convenient, transparent, and efficient after-sales service experience for customers adhering to the “Care & Reach” service concept.

    Outstanding products and excellent service complement each other. It is worth mentioning that the high level of OPPO’s brand recognition by users is not only about the product, but its service capabilities. As a technology enterprise that keeps up with the times, OPPO not only focuses on the investment and improvement of technology and product but also pays more attention to humanistic value and user experience. Now OPPO has more than 2,500 service centers worldwide in 60 countries and regions.

    In the future, OPPO will continuously focus on user needs and refine the process. Attracting users worldwide with excellent research and development power, product power, and also caring service, OPPO will strive to improve the service quality and bring a better service experience to users.

    And the good news is that the benefits keep on coming! This September, OPPO will ceremoniously launch a promotion event to celebrate the “2nd anniversary of Service Day”, there will be more spare parts discounts and gifts to give back to its users. For more information, please stay tuned to OPPO’s official website and OPPO Care FB page.

    Find more: https://support.oppo.com/

    Hashtag: #OPPO

    The North American Preliminary Round of OPPOHack 2022 Will Begin and Empower Global Talents with the Synergy Between Industry, Academia and Research

    SHENZHEN, CHINA – Media OutReach – 14 September 2022 – ColorOS officially announced that two offline preliminary rounds of the OPPOHack 2022 will be held in North America at Yale University on September 17-18 (EDT) and at the OPPO US Research Center on September 24-25 (PDT), while the online preliminary rounds will be launched simultaneously. The top three of each preliminary round will be granted a “Fast Pass.” Ranking the scores of all the participants in both preliminary rounds, a total of 10 finalists (individuals or teams) will compete for the $40,000 grand prize in the final round. The event aims to build a platform for global makers to exchange and collaborate on innovative technologies, and bring technologies out of the laboratory to transform people’s lives.

    The preliminary rounds of OPPOHack 2022 will kick off both online and offline at the same time

    The OPPOHack 2022, which was inaugurated on May 23, has attracted enthusiastic applicants from more than 50 countries and regions. Themed “Ubiquitous Services: Intelligence Linking the World,” it offers two topics: “Unhindered Cross-device Connection” and “User-centric Intelligent Services.” The participants are encouraged to brainstorm on the best solutions in visual enhancement, efficient algorithms, integrated perception, etc. in scenarios such as smart entertainment, smart learning, smart mobility and smart production. After registering online and competing online or offline, 10 finalists will chase for the prize.

    Furthermore, three Tech Garage activities have been rolled out online to inspire global developers and discuss the future of ubiquitous services, themed “Redefine the Future of Ubiquitous UI/US,” “Influence of AI on HCI in the Near Future” and “Challenges and Opportunities of Multi-device Connection in Ubiquitous Service,” respectively. The Tech Garages drew wide attention from dozens of companies or organizations. More than 100 technophiles across the globe signed up and communicated with speakers in the Q&A session.

    Now, the preliminary rounds will be staged on September 17. A stellar panel of mentors and judges, including Lin Zhong (Professor of Computer Science at Yale University), Rex Ying (Assistant Professor of Computer Science at Yale University), Zhen Xiu (Head of Software Engineering Technology Strategy at OPPO North America), Yiwei Zhao (Principal Engineer at OPPO North America), Jinyuan Zhou (Head of North America at Frees Fund) and Lingxiao Xu (Head of Equity Derivatives at UBS Investment Bank Division), will coach the participants throughout the event and support them to reach the next level.

    Keep growing the ubiquitous service capability and bringing technologies out of the laboratory with the industry-academia-research model

    In addition to the OPPOHack 2022, OPPO has cooperated extensively with universities and research institutes in recent years to empower global talents, facilitate the commercialization of many research projects, provided better products and services for users, and played a key role in advancing technology. The Pantanal system unfolded on ODC 2022, for instance, is the brainchild of this open cooperation model.

    In the era of IoT, ColorOS will further team up with universities and research institutes on scientific innovation, talent training and external exchange, explore cutting-edge technologies with scholars, promote the application of research achievements, and bring better products and intelligent experiences to users.

    Hashtag: #OPPO

    About OPPO

    OPPO is a leading global smart device brand. Since the launch of its first mobile phone – “Smiley Face” – in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find X and Reno series. Beyond devices, OPPO also provides its users with ColorOS operating system and internet services such as OPPO Cloud and OPPO+. OPPO has footprints in more than 60 countries and regions, with more than 40,000 employees dedicated to creating a better life for customers around the world.

    VMware Cloud on AWS Expands to Hong Kong

    HONG KONG SAR – Media OutReach – 13 September 2022 – Today, VMware announces VMware Cloud on AWS is now available in the Asia Pacific (Hong Kong) Region. This addition extends coverage of the service to 21 regions globally. With VMware Cloud on AWS, customers in Hong Kong can run workloads across VMware vSphere-based hybrid cloud environment, with optimized access to AWS.

    Robert Wang, Managing Director, AWS HK & Taiwan on the left; Franco Lan, General Manager, VMware HK & Macau on the right at VMware Cloud on AWS HK Media Launch.

    VMware Cloud on AWS brings VMware’s enterprise-class Software-Defined Data Center software to AWS bare-metal infrastructure to run enterprise workloads more securely at scale, across both virtual machines and containers. The service features built-in Kubernetes and optimized access to 200+ native AWS services including data, analytics, artificial intelligence, and machine learning to deliver a pragmatic approach to app modernization. Built-in VMware NSX security capabilities help stop advanced, persistent threats that can move laterally within and across cloud and data center environments.

    VMware and AWS have a deep and extensive partnership. Each company has created dedicated sales, solutions architects, and customer success teams to help customers realize the benefits of VMware Cloud on AWS.

    VMware Cloud on AWS is deployed by customers globally across a broad range of industries including transportation, healthcare, financial services, manufacturing, oil and gas, government, education, professional services, and technology. VMware Cloud on AWS supports use cases such as application modernization, cloud migration, data center extension, disaster recovery with VMware Cloud Disaster Recovery Service, and cloud-delivered virtual desktop infrastructure. VMware and AWS have each have created dedicated sales, solutions architects, and customer success teams to help customers realize the benefits of VMware Cloud on AWS.

    “The AWS partnership enables us to deliver a faster, easier, and cost-effective path to the cloud, enabling faster time-to-market and drive innovation,” said Franco Lan, General Manager, VMware Hong Kong & Macau. “Together, we are helping customers move quickly and non-disruptively to the cloud with compatibility and operational consistency across their existing VMware deployments. And once workloads are running in VMware Cloud on AWS, the service can deliver significant ongoing savings by optimizing resource utilization while ensuring better workload availability, protecting against today’s complicated and dangerous lateral threats, and enabling the next-generation of modern applications.”

    “We are glad to see the AWS and VMware relationship continues to enable customers to modernize applications and innovate faster. With VMware Cloud on AWS available in AWS Asia Pacific (Hong Kong) Region, customers can now operate a consistent and seamless hybrid cloud environment that combines the VMware software with the unmatched functionality, security, and operational expertise of AWS. We look forward to working together and bringing a deeper level of value to our customers in Hong Kong, help them to drive a faster, easier, and more cost-effective digitalization journey.” said Robert Wang, Managing Director at AWS Hong Kong & Taiwan.

    VMware provides customers with the choice of a broad range of strategic IT partners to help them navigate through their cloud journey. VMware enables strategic partners in Hong Kong to improve their profitability and grow their business with VMware Cloud on AWS through the VMware Partner Connect program. The program provides partners with training, financial incentives, and access to VMware expertise. Today there are more than 300 validated technology solutions available to customers for use in VMware Cloud on AWS environments.

    For more information about VMware Cloud on AWS, visit: https://www.vmware.com/products/vmc-on-aws.html

    Hashtag: #AmazonWebService #AWS #VMware

    About VMware

    VMware is a leading provider of multi-cloud services for all apps, enabling digital innovation with enterprise control. As a trusted foundation to accelerate innovation, VMware software gives businesses the flexibility and choice they need to build the future. Headquartered in Palo Alto, California, VMware is committed to building a better future through the company’s 2030 Agenda. For more information, please visit .

    VMware, VMware Cloud, vSphere, and NSX are registered trademarks or trademarks of VMware, Inc. in the United States, and other jurisdictions. This article may contain hyperlinks to non-VMware websites that are created and maintained by third parties who are solely responsible for the content on such websites.