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Xayaboury Festival is the Elephant in the Room for Lao Tourism

Photo Credit: Monica Daniela Domieij-gaul on Facebook.

The Xayaboury Elephant Festival is immensely popular with locals but has caused concern among international tourists who worry about the treatment of elephants.

OctaFX: 5 ways traders fall prey to their emotions and make mistakes

KUALA LUMPUR, MALAYSIA – Media OutReach – 2 March 2023 – In anticipation of a webinar series on trading psychology by trading expert Gero Azrul, OctaFX presents a comprehensive guide to identifying and overcoming emotions that harm your trading.

Developing a trading strategy is not enough to succeed as a trader. The strategy will give you consistent positive results only after you master the psychology of trading and overcome emotions that negatively impact your decision-making process. Fear, greed, and various biases all affect how you perceive the market and open orders. To handle them and maintain financial discipline, traders use several techniques that the OctaFX expert Gero Azrul will describe at length during the eleven-part webinar series on trading psychology starting on March 3, 2023.

Let’s describe the most common trading psychology mistakes and some ways to avoid them.

Five ways your emotions can influence your trading

At the moment when you have to press that ‘buy’ or ‘sell’ button, emotions hit different. Your brain tells you stories of imminent success and utter failure, causing you to make impulsive trading decisions. At the core of it, there are five ways emotions can influence your trading:

  • Fear of missing out (FOMO). Traders sometimes open new orders when they feel they could earn on a particular market movement, often promoted by financial influencers on social media. However strong it may seem, it is better to avoid placing orders on rumours and first carry out thorough analysis and use risk management tools.
  • Relying on gut feeling and intuition. This is never a good way of conducting trading activities. As lucky as one might be, after a few winning trades, there will inevitably be a streak of losing ones wiping away all profits and possibly resulting in greater losses.
  • Gambler’s fallacy. Some traders erroneously believe that just because they had several losing trades in a row, the next one would be a winning one. However, the streak of orders-gone-red might not end until the whole deposit is spent.
  • Hindsight analysis. It often seems easy to identify good entry points for orders in the past. Consequently, trading might seem simpler than it is to beginners, which could lead to upsetting results. While such analysis can be helpful, you should always have a consistent strategy to base your decisions on, as you will likely give way to emotions in the real-time, high-pressure market environment.
  • Keeping your orders open for too long. Seeking proof that you are right and staying in a trade for too long could result in a costly mistake. Try to stay objective and exit a trade when it’s gone past your acceptable loss level.

How to avoid trading psychology mistakes

There are several ways you can put your emotions under control when trading.

  • Develop a trading strategy and keep to it. A well-defined trading strategy will help you stay focused on your goals and prevent impulsive decisions. Your trading plan should include clear entry and exit points, risk management techniques you are going to use, and a trading schedule based on your preferred time frames and instruments.
  • Capital protection comes first at all times. Before trying to maximise your profits, ensure your trading capital is protected. A good rule of thumb is to use no more than 4% of your capital on a single trade and keep your loss-per-trade at a maximum of 25%. If you quit it every time it gets there, no matter how you feel about the future market movement, your capital will be quite safe.
  • Keep a trading journal. A trading journal can help you analyse your trading performance and identify areas for improvement. Keep track of your trades, including entry and exit points, the reason for the trade, and its outcome.
  • Take a break when you need one. You are more likely to make mistakes if you are stressed or tired. If you have a series of consecutive losing orders, you might also need a break. Get some rest from the emotional pressure and carefully analyse what happened.
  • Learn from your mistakes. They are inevitable. Remember that mistakes are there to help you refine your trading approach and make it more profitable.

‘Trading psychology is critical in achieving your trading goals. Traders who can successfully manage their emotions are more likely to succeed in the long run. However, it is a wide-ranging topic with its points of application on every level of the trading process,’ Gero Azrul commented.

In his webinar series, Gero Azrul will talk in detail about various psychological techniques and ways to make trading less stressful and more effective, as well as show practical examples of implementing those.

Hashtag: #OctaFX

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

About OctaFX

is a global broker providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 150 countries with more than 21 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.

OctaFX has also won more than 60 awards since its foundation, including the ‘Best Online Broker Global 2022’ award from World Business Outlook and the ‘Best Global Broker Asia 2022’ award from International Business Magazine.

Luang Prabang Landfill Fire Continues to Rage on After Two Weeks

Luang Prabang Landfill Fire Still Active After Burning For Weeks
The provincial authorities spray water to extinguish the fire in the landfill.

Two weeks after the landfill fire broke out, authorities in Luang Prabang have still been unable to entirely extinguish it and have stated that it would take additional time to do so.

Bowtie Appoints Mr. James Lau as Independent Non-Executive Director

HONG KONG SAR – Media OutReach – 2 March 2023 – Bowtie, Hong Kong’s first virtual insurer, is pleased to announce the appointment of Mr. James Lau to its board of directors as an Independent Non-Executive Director. With his in-depth familiarity with financial policy and financial technology accumulated in his work in the public sector and The Government of Hong Kong, Mr. James Lau brings in an independent perspective at the board level to assist the establishment of trust in Bowtie as a new category of health insurance brand.

Mr. James Lau served in Hong Kong Monetary Authority and The Government of Hong Kong for more than 40 years. During his tenure as the Secretary for Financial Services and the Treasury, he led a number of policy and legislative initiatives as well as collaborating closely with various financial regulators to promote the financial development of Hong Kong. Mr. Lau previously served on the boards of the Financial Services Development Council (Hong Kong), Mandatory Provident Fund Schemes Authority (Hong Kong), MTR Corporation Limited, Airport Authority Hong Kong, and others.

Mr. Lau holds a Bachelor’s degree and a Master’s degree in Mathematics from the University of Waterloo in Canada. In 2020, he was awarded the Gold Bauhinia Star and was appointed as Justice of the Peace in recognition of his dedication to maintaining the stability of Hong Kong’s financial system and managing the allocation of government resources during his political career.

“We are honoured to welcome Mr. James Lau to our board. After stepping down as a public servant, James stays committed to promoting Hong Kong’s financial development through his rich experience from the past decades. He is particularly passionate about financial technology and has taken on leadership roles in both virtual bank and virtual insurance companies. Bowtie will continue to learn and grow under his guidance.” said Michael Chan, Co-Founder and Co-CEO of Bowtie.

“The arrival of Mr. James Lau is such inspiring news to our team. It is a testament to our commitment in becoming a category-defining health insurer. I believe he will add great credibility to our corporate governance and brand trust” said Fred Ngan, Co-Founder and Co-CEO of Bowtie.

“I am aligned with Bowtie’s mission of addressing the health protection gap in Hong Kong and look forward to witnessing the growth of a vibrant virtual insurance company. Since authorization, Bowtie has continued to grow and become a health insurer that is trusted by the general public. I am excited to participate in the disruptive innovation journey of Bowtie, leveraging modern technology to enhance public awareness of health protection as well as promoting Hong Kong’s unique advantages as a leading FinTech hub.” said Mr. James Lau.Hashtag: #bowtie #insurance #virtualinsurance



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

About Bowtie

The Bowtie Life Insurance Company Limited is an authorised life insurance company and Hong Kong’s very first virtual insurer approved under the Fast Track pilot scheme. Through the use of modern technology and medical expertise, Bowtie offers a commission-free convenient online platform for customers to quote, apply and claim for health insurance plans certified by the Health Bureau under the Voluntary Health Insurance Scheme (VHIS).

In addition, Bowtie has also gone into everyday life by creating the One-stop Primary Care Centre and the Asian Health Hub. Bowtie is backed by Sun Life Financial, Mitsui & Co., Ltd and supported by leading international reinsurers.

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China Tower (788.HK) Announces 2022 Annual Results

China Tower Steadily Implements “One Core and Two Wings” Strategy, Net Profit Maintains Rapid Growth; Dividend Payout Ratio Rises Further to 72.0%.

HONG KONG SAR – Media OutReach – 2 March 2023 – The world’s largest telecommunications infrastructure service provider China Tower Corporation Limited (“China Tower”, or the “Company”) (Stock Code: 0788.HK) is pleased to announce its annual results for the year ended 31 December 2022.

Performance Highlights

RMB Million 2022 2021 Change
Operating revenue 92,170 86,585 6.5%
EBITDA 62,844 63,017 -0.3%
Profit attributable to owners of the Company 8,787 7,329 19.9%
Basic earnings per share (RMB yuan) 0.0503 0.0419 20.0%
Key operating data
Number of tower sites (thousand) 2,055 2,038 0.8%
Number of tower tenants (thousand) 3,583 3,459 3.6%
Tenancy ratio (tenants / tower site) 1.74 1.70 2.4%

Our operating revenue grew steadily by 6.5% year-on-year, reaching RMB92,170 million in 2022. EBITDA[1] reached RMB62,844 million, with an EBITDA margin[2] of 68.2%. Profit attributable to owners of the Company was RMB8,787 million, with a year-on-year growth of 19.9%. Our net profit margin was 9.5%, showing a continued improvement in profitability.

Our cash flow remained robust, with net cash generated from operating activities for 2022 reaching RMB65,134 million. Capital expenditures stood at RMB26,207 million, while free cash flow[3] reached RMB38,927 million, or growth of 10.2% year-on-year. Our financial position remained healthy. As of 31 December 2022, total assets reached RMB305,560 million, interest-bearing liabilities were RMB79,119 million and our gearing ratio[4] was 27.7%, a decrease of 5.7 percentage points from the year before.

Shareholder returns are one of our priorities. After considering our profitability, cash flow, and future development needs, the board of directors of the Company (the “Board”) has recommended a final dividend of RMB0.03232 per share (pre-tax) for the year ended 31 December 2022, equivalent to a payout ratio of 72% of our annual distributable net profit.

Driven by the “5G + DAS” dual growth engines, TSP business grew steadily

We capitalized on the increasing penetration of 5G network coverage by reinforcing our advantages in resource coordination and sharing and professional management to streamline our construction and service models. This has enabled us to address our customers’ network construction needs in an intensive and effective manner. Our TSP business revenue reached RMB83,031 million in 2022, an increase of 3.5% year-on-year.

Tower business. We advocated for the inclusion of 5G base-station sites in development planning and played an active role in setting the wireless communications specifications for buildings. Complying with these specifications, we have been included in the administrative approval process for new construction projects, further strengthening our ability to coordinate and share resources. We launched innovative low-cost construction solutions to sharpen our capability in providing integrated wireless communications coverage solutions. A higher level of resource sharing enabled us to comprehensively satisfy customer demand for 5G construction. We completed approximately 745,000 5G base-stations during the year, of which more than 96% were delivered through sharing existing resources. In addition, we focused our efforts on tackling difficult sites and continued to enhance our service quality. Alongside an improving capability in site maintenance, customer satisfaction grew. In 2022, our Tower business generated revenue of RMB77,204 million, or year-on-year growth of 1.8%. As of 31 December 2022, we managed 2.055 million tower sites, representing a net increase of 17,000 sites from the end of 2021. The number of TSP tenants reached 3.362 million, an increase of 102,000 from the end of 2021, and the TSP tenancy ratio also increased from 1.60 to 1.65 over the same period of last year, showing a continuous increase in the level of site co-location.

DAS business. We focused on providing 5G coverage for key scenarios and key sectors including education, cultural tourism, transportation and healthcare, with an integrated approach to coordinating resources and demands. Playing an important role in coordinating site entry and construction, we were able to take up all DAS construction demand for key venues, scenarios and sectors, providing customers with differentiated and diversified indoor coverage solutions. In addition, we stepped up innovation to develop sharable DAS products and solutions. We enhanced our professional capabilities to optimize our advantages in providing low-cost and green and low-carbon DAS solutions, complemented by our quality services, driving accelerated growth in the DAS business. This business has increasingly become the second growth engine of our development. In 2022, our DAS business recorded revenue of RMB5,827 million, representing a year-on-year increase of 34.3%. As of 31 December 2022, we had covered buildings with a cumulative area of 7,390 million square meters, representing a year-on-year increase of 48.1%. Our high-speed railway tunnels and subway coverage reached a cumulative length of 20,040.2 kilometers, a year-on-year increase of 18.5%.

Grasping strategic opportunities to boost strong growth in Two Wings business

By leveraging the opportunities brought forth by the growth of the “digital economy” and the “dual carbon” goals, we focused on product innovation and business optimization to fortify our competitive advantages. As a result, the Two Wings business sustained a robust growth trajectory with revenue in 2022 reaching RMB8,904 and accounting for 9.7% of our overall operating revenue, an increase of 2.6 percentage points from the same period in 2021. The business contributed 49.7% to our incremental operating revenue for the year, an increase of 9.7 percentage points year-on-year, further solidifying our multi-pillar business development structure.

With a focus on “Digital Tower”, Smart Tower business growth accelerated. Serving the national strategic goals. We stood at the forefront of the digital economy to seize opportunities arising from its development, playing a proactive role in building the national governance system. By upgrading over 200,000 “telecommunication towers” to “digital towers”, we helped enforce fishing prohibition along the Yangtze River, as well as taking part in ecological restoration, farmland protection, forestry fire prevention and other national initiatives. In doing so, we contributed to projects including alleviating pollution, conserving the ecology of the Yangtze River and safeguarding China’s 1.8 billion mu of farmland. This approach not only supported the development of Ecological China and Beautiful China, but also enhanced efficiency and value of the Company. Enhancing product capabilities. We increased investment in research and development (R&D) to speed up product upgrade and iteration. Our Tower Monitoring products continued to establish their leadership centered around five areas – platform, data, algorithm, application and operation. We launched seven industrial application of Tower Monitoring products covering the smart protection of forestry, farmland, wheats, blue skies, reservoirs, fishery, and villages, as well as the smart monitoring of straw burning. These products helped us address the diverse needs of our customers. Upgrading customer services. We have built out a one-on-one, face-to-face and round-the-clock “companion” service system that covers every procedure to offer our customers professional, systematic and personalized services. We put in place sound information security and data protection and are continuously improving our customer service quality. In 2022, our Smart Tower business achieved revenue of RMB5,704 million, a year-on-year increase of 40.5%, of which RMB3,694 or 64.8% was generated from Tower Monitoring business.

Stepping up business development provided strong growth momentum for Energy business. Aligning with the national “dual carbon” goals, we leveraged our abundant site resources to continuously strengthen core capabilities, supporting our overarching strategy of developing our expertise, strengthening our platform, optimizing our service, and building our brand in this space. In core business areas such as battery exchange and power backup, we focused on scaling up and specializing operations. For our battery exchange business, we accelerated network expansion in a cost-effective manner, taking a deep dive into the takeaway and delivery market and strengthening collaboration with business customers to maintain growth in our user base. As of 31 December 2022, we have approximately 902,000 battery exchange users, an increase of 290,000 from the end of 2021, further strengthening our leadership position in terms of user base. For the power backup business, we focused on key sectors such as telecommunications and finance, enriching our standardized power backup products and marketing the four-in-one solution covering power backup, power generation, monitoring and maintenance, which plays an important role in supporting the smooth running of infrastructure in our society. In 2022, our Energy business achieved revenue of RMB3,200 million, a year-on-year increase of 54.5%, of which the battery exchange business accounted for RMB1,800 million, with its contribution to the Energy business reaching 56.3%.

Mr. Zhang Zhiyong, Chairman of China Tower said, “Looking ahead, we will remain focused on grasping the opportunities brought by the development of 5G new infrastructure, the digital economy, and the green-oriented transition of energy. Anchored around our positioning as a world-class information and communications infrastructure service provider and a highly competitive information and new energy applications provider, we will further the implementation of the “One Core and Two Wings” strategy and continue to drive development centered around sharing, service, innovation, technology and value creation. In doing so, we will build upon an operating system that is professional, intensive, delicate, efficient, and digitalized, solidifying the new paradigm of high-quality development and creating greater value for shareholders, customers, and society.”


[1] EBITDA is calculated by operating profit plus depreciation and amortization.
[2] EBITDA margin is calculated by dividing EBITDA by operating revenue, and multiplying the resulting value by 100%.
[3] Free cash flow is the net cash generated from operating activities minus the capital expenditures.
[4] Gearing ratio is calculated as net debt divided by the sum of total equity and net debt, then multiplied by100%. Net debt is calculated as the amount of interest-bearing liabilities minus the amount of cash and cash equivalents.

Hashtag: #ChinaTower

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

About China Tower (Stock Code: 0788.HK)

China Tower is the world’s largest telecommunications tower infrastructure service provider, and the Company always adheres to the philosophy of shared development and implements the “One Core and Two Wings” strategy. The Company is principally engaged in the construction, maintenance and operation of base station ancillary facilities such as telecommunications towers, public network coverage in high-speed railways and subways, and large-scale indoor Distributed Antenna Systems (DAS). Meanwhile, relying on unique resources to provide energy application services such as information application and intelligent battery exchange and power backup to the society, the Company strives to build itself into a world-class information and communications infrastructure service provider, and a highly competitive information and new energy applications provider. As of the end of 2022, the Company’s total assets amounted to RMB305,560 million. China Tower operated and managed 2.055 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.583 million tenants with the tenancy ratio of 1.74.

Fatal Accident at Construction Site Claims Life of Vientiane Woman

Woman falls to death at construction site in Vientiane Capital.
Woman falls to death at construction site in Vientiane Capital.

A woman was killed on Wednesday after falling into a drain construction site in Vientiane’s Sikhottabong District.

Backbase again named leader in Omdia Digital Banking Platform Report

Backbase achieved highest overall ratings for solution capability and customer experience

SINGAPORE – Media OutReach – 2 March 2023 – Backbase, the Engagement Banking leader, was again ranked as a leader in the Omdia Universe: Digital Banking Platforms, 2023. The report recommends Backbase as a candidate in all digital banking vendor shortlists, particularly for financial institutions seeking a wide-ranging platform that can be co-innovated for specific business goals. Backbase has continued to receive strong recognition by the analyst community as the innovation partner to help banks win in the platform era.

Consumers in APAC have high expectations towards banking services rendered to them, with leading banks continuously upgrading their banking technology to offer advanced banking and beyond banking experience to retain their customers. Built as one unified platform to engage and orchestrate frictionless experiences across all touchpoints at every stage of the customer lifecycle across retail banking, business banking, digital lending, and wealth management, Backbase has helped 150+ banks around the globe and in APAC rearchitect banking around their customers.

Backbase scored consistently strongly across all areas of the evaluation and achieved the highest overall ratings for solution capability and customer experience, according to report authors, Philip Benton and Ouliana Smith. The report credits Backbase retaining its leadership status to its strong solution capabilities and breadth of out-of-the-box journeys, combined with the ability to further customize. The breadth of the Engagement Banking Platform has increased significantly through investment in its off-the-shelf capabilities and its partner ecosystem, they further noted.

“From analyst evaluations, it is clear that all digital banking platforms are not made equal. The Backbase Engagement Banking Platform has been instrumental in modernizing the customer experience for our banking customers in Asia Pacific, launching them into banks of the future. Techcombank for instance comes up often in discussions as a bank which is leading in digital banking transformation, and that, to us, is success, “Riddhi Dutta, Regional Vice President, Asia, Backbase said. “The value Backbase brings is to provide efficiencies and innovation beyond basic digitalization of banking products, in order for banks to differentiate their digital banking services whether deployed on-premise, hybrid or in the cloud. We offer banks the power to hyper-personalize and secure a 360-degree unified view of customers across all lines of business and channels for a truly digital-first experience.”

Omdia recognizes the uniqueness of the Backbase Engagement Banking Platform, as it has been “designed on a single omnichannel banking platform architecture, as opposed to being built through acquisitions. The platform was created specifically for digital banking and as a facilitator to enable strong customization.”

The report cited banks’ prioritization of enhancing platform functionality to aid self-service and integrating digital banking with other channels to improve sales productivity. For most financial institutions, the authors added, it is not just about choosing the best off-the-shelf product; it’s also necessary to consider a vendor’s ability to enable and drive innovation, offer strong user experience, and provide advice on how to launch new products and services quickly and effectively.

To read the Omdia Universe: Digital Banking Platforms, 2023 report, click here.Hashtag: #Backbase #digitalbanking #engagementbanking #apac

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

Backbase

is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding, to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, EastWest Bank, HDFC, IDFC First, JudoBank, Techcombank, TPBank, and UBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

“No Driving on Footpath” Sign Goes Viral in Thailand

No Riding on Footpath Traffic Sign Photo Goes Viral in Thailand
The viral photo featuring the new footpath traffic sign (photo: Pravit Rojanaphruk)

A photo of a new traffic sign noticed in Bangkok went viral this week after a social media user posted it online.