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Camatic Seating Uses Infor Integrated AI Solution to Help Improve Customer Satisfaction, Increase Revenues and Optimise Vendor Selection Process

Leading manufacturer of seating solutions for some of the most iconic venues in the world anticipates 5% increase in sales win rates and 93% faster vendor selection

MELBOURNE, AUSTRALIA – Media OutReach – 17 November 2022 – Infor, the industry cloud company, today announced that Camatic Seating — a leading supplier and manufacturer of ergonomic seating solutions for stadiums, arenas, cinemas, theaters, educational institutions and transit areas around the world — is using Infor’s integrated artificial intelligence (AI) solution to help improve customer satisfaction, increase revenues and optimise the vendor selection process.

Melbourne-based Camatic Seating has developed innovative seating solutions for some of the most iconic venues in the world – including Wimbledon, the Sydney Opera House refurbishment, Melbourne Cricket Ground and the high-tech Mercedes-Benz Stadium in Atlanta, which hosted the 2019 Super Bowl. Camatic Seating also is a seating provider to stadiums of the National Football League (NFL), National Basketball Association (NBA) and Major League Soccer (MLS).

As Camatic Seating grows and enters new markets, its goal is to continue to deliver seating solutions without delays, so customers can complete their construction projects as scheduled.

With Infor Coleman® AI, Camatic Seating anticipates that it will increase its sales-win rates by 5%, which would translate into US$10 million to US$15 million in new revenue. The company also expects that Infor Coleman AI will help speed up its vendor selection process by 93%, reducing the time it takes to pull vendor data from 30 minutes to two minutes.

“With artificial intelligence applied to key business processes, we now have the confidence to tell our customers we can deliver seating on time, which is critical for them to complete projects on their end — such as building out seating for a new stadium, cinema, or any construction with time sensitivity,” said Jamarl Scase, planning and production control manager at Camatic Seating.

Improving sales forecasting and customer satisfaction

Taking advantage of the modern Infor OS technology platform that underpins Camatic Seating’s enterprise resource planning (ERP) system — Infor CloudSuite™ Industrial Enterprise — Camatic Seating applied Infor Coleman AI to five years of disparate customer relationship management (CRM) data to help generate more accurate forecasts and win predictions. Implemented in less than 30 days, the AI-driven insights are delivered through Infor Birst® analytic dashboards, and those insights are accessible on demand.

Prior to leveraging Infor OS to better utilise data to generate insights, creating monthly sales forecasts was a manual process. Capacity planning, based on these forecasts, was prone to risk and unforeseen costs such as lack of supplies and outsourcing work to subcontractors.

Now, the entire organisation uses the same real-time information to help deliver seating solutions to customers on time. Management and sales teams are more effective in strategic decision making; operations are better equipped to plan for capacity; and procurement can acquire the right number of raw materials at the right time.

Automating the vendor selection process

With Infor Coleman AI applied to vendor performance data, Camatic Seating can automatically assign grades to suppliers in five categories. Planners can quickly look at multiple suppliers in the same category and compare their ratings. There also is a summary breakdown of past vendor performance — in terms of delivery promptness, quality and price. The Camatic Seating team can make a selection based on the overall ranking, and it also can see the details behind the ranking.

“We weren’t really analysing the data in a consistent manner, and it led to us sometimes making the incorrect supply selection,” Scase said. “Previously, it was arduous for the material planners to get that data out and analyse it, sometimes taking up to 30 minutes at a time to figure out what the supplier’s performance had been. Now, by applying AI to our historical data, they can have that information with more accuracy and consistency at the touch of a button.”

According to Scase, more accurate and targeted vendor selection ultimately leads to better delivery performance and the ability to manufacture better-quality products at a lower cost.

Infor ANZ vice president and managing director Jarrod Kinchington said that using an intelligent cloud-based solution will help transform Camatic Seating’s business and deliver considerable savings to the business.

“We’re delighted to be working with Camatic Seating again, a company that shares our values and philosophy when it comes to innovation and creating streamlined and efficient business processes. Being able to access information in real time and make reliable, data-driven decisions is critical for manufacturing today. It is responsible for some of the biggest sporting events in the world, and together, Camatic Seating and Infor’s expertise will be on show to millions of fans and audiences with the Sydney Football Stadium one of 10 venues at the 2023 FIFA Women’s World Cup – we’re excited to have our technology showcased on a global stage.

“At Infor we have an extensive track record of working with leading manufacturing companies, such as global forklift manufacturer Combilift, which is using Infor Coleman AI-driven parts recommendations, in combination with Infor CloudSuite Industrial. With logistics and supply chain under continued pressure, having a cloud-based, integrated AI solution enables complete transparency as well as generating vital insights into performance and accurate forecasting. This in turn enhances customer service and employee satisfaction,” Kinchington said.

Watch this video to see how Infor Coleman AI is helping Camatic Seating improve delivery performance, optimise vendor selection and deliver great customer experiences.

Media Contact:
Phyllis Tan
Infor Asia Pacific & Japan
phyllis.tan@infor.com
+65 9799 9133

Hashtag: #Infor

About Infor

Infor is a global leader in business cloud software specialised by industry. We develop complete solutions for our focus industries. Infor’s mission-critical enterprise applications and services are designed to deliver sustainable operational advantages with security and faster time to value. Over 60,000 organisations in more than 175 countries rely on Infor’s 17,000 employees to help achieve their business goals. As a Koch company, our financial strength, ownership structure, and long-term view empower us to foster enduring, mutually beneficial relationships with our customers. Visit .

About Camatic Seating

For more than 55 years, Camatic Seating has provided exceptional audience comfort solutions in stadiums, theaters, cinemas and places of learning and culture across the globe. As an industry leader, Camatic Seating’s products are designed and manufactured to the highest standards for the most demanding environments, indoors or outside. From humble beginnings as a small engineering company, Camatic Seating has remained family owned while growing into a leading global brand. The company continues to uphold its original quality engineering ethos and strong family business values while moving firmly to center stage in a competitive global market. Camatic Seating is proud of the seating solutions it has provided for public spaces around the world, using its proprietary designed and manufactured products. From local high schools to some of the world’s most iconic theatres and stadiums, every seat is designed and fitted to meet the unique needs of venues and their audiences. From its global manufacturing facilities, Camatic Seating manages all aspects of the design, manufacturing and installation process, ensuring on-time, on-budget and high-quality installations. To learn more, please visit .

Sa Sa Announces Interim Results for FY2022/23

Hong Kong SAR same store sales up 19.8%
Group’s loss narrows by 26.7% YoY

HONG KONG SAR – Media OutReach – 17 November 2022 – Sa Sa International Holdings Limited (“Sa Sa” or the “Group”, stock code: 0178) announced its interim results for the six months ended 30 September 2022 (the “period”).

Dr Simon Kwok, Chairman and Chief Executive Officer of Sa Sa International Holdings Limited (left), and Dr Eleanor Kwok, Vice-chairman of the Company.
Dr Simon Kwok, Chairman and Chief Executive Officer of Sa Sa International Holdings Limited (left), and Dr Eleanor Kwok, Vice-chairman of the Company.

In the first half of the financial year, the Group’s turnover amounted to HK$1,550.5 million, representing a decrease of 2.9% over the six months ended 30 September 2021 (“previous period”), largely attributable to Covid-19 outbreaks in Mainland China and a spike in cases in the Macau SAR, which prompted lockdowns in affected cities and towns, disrupting our business operations. Thanks to the improved gross profit margin in the core markets of the Hong Kong and Macau SARs, as well as the effective implementation of cost reduction plans, loss for the period narrowed significantly by 26.7% to HK$133.2 million compared to the same period last year. Excluding the provision for impairment made in accordance with HKAS 36 that applied to retail store assets (including right-of-use assets and property, plant and equipment), subsidies for the Covid-19 pandemic from local governments and temporary rental concessions, the Group’s loss during the period narrowed by 10.3% to HK$171.7 million compared to the previous period. Cash outflow from operating activities was merely HK$33.1 million, thanks to enhanced inventory management and zero-based budgeting practices.

Sa Sa has taken proactive measures to significantly adjust its cost structures and management practices, aiming for sustainable profitability. On the revenue side, the Group continued to expand revenue earning potential by reinvigorating its product categories and enhancing online-merge-offline (“OMO”) strategies. On the cost side, it consistently managed inventory and lease rentals. Barring any further escalation in the Covid-19 pandemic restrictions in Sa Sa’s core markets, the Group anticipates these measures to take effect by the end of the current financial year, and any relaxation of the pandemic restrictions will provide upside to the Group’s plan.

Basic loss per share for the first half amounted to 4.3 HK cents (2021/22: 5.9 HK cents). In view of the challenging and uncertain operational environment in the markets where we operate, the Board does not recommend the payment of an interim dividend (2021/22: Nil).

Business Review

In the Hong Kong SAR, local consumers were still the main source of customers as tourist and visitor arrivals from Mainland China remained low in the city during the period. The Group took advantage of the improving consumer sentiment by refreshing its product mix and launching effective theme-based promotions that have led to a year-on-year increase of 19.8% in same store sales in the Hong Kong SAR. Retail sales grew 8.0% despite a net reduction of five stores to 71 in the Hong Kong SAR during the period. Moreover, the Group successfully capitalised on the opportunities brought about by the government’s Consumption Voucher Scheme launched in April and August to bolster local consumer spending. As a result, the Group has been able to sustain the sales momentum, with same store sales growth for the second quarter remaining in solid double-digits.

As for the Macau SAR, the Group’s sales performance was impacted by a sharp spike in Covid-19 infection cases since late June 2022, which led to the first citywide lockdown in July 2022 and subsequently a significant decline in the number of tourists. The Group’s sales in the Macau SAR, of which 56.1% came from Mainland China tourists, decreased by 37.7% while same store sales dropped by 33.4% compared to the previous period.

Gross profit margin of Hong Kong and Macau SARs increasing to 39.3%

On a combined basis, retail sales in the Hong Kong and Macau SARs decreased by 8.7% to HK$966.8 million in the first half, while same store sales went up 0.8%. Gross profit margin for the period in the Hong Kong and Macau SARs increased by 0.5 percentage points to 39.3%. This, coupled with effective operating cost control measures, narrowed the Group’s loss in this market to HK$82.3 million, a significant reduction of HK$40.5 million (or 33.0%) as compared to the previous period.

The Group has continued to streamline its store network based on store economics, balancing lease rentals with the Group’s ability to retain and service customers in regional clusters. During the period, there was a net reduction in the total number of Sa Sa’s retail stores in the Hong Kong and Macau SARs of five to 80, with all five net closures in the Hong Kong SAR. Sa Sa has continued to negotiate temporary rental concessions for certain retail stores to alleviate the rental costs where tourist footfall is yet to return. The Group is steadfast in its lease rental policy and will only renew the lease where the rental makes economic sense and we can earn a positive contribution. During the period, eight expiring leases in prime tourist districts with heavy foot traffic were renewed at a reasonable new rent, while three were closed.

Hong Kong SAR online sales up 88.9% amid new retail adoption

Consumer adoption of new retail formats and growth of online sales in the Hong Kong SAR continues to accelerate at pace. Online sales in the Hong Kong SAR increased remarkably by 88.9% during the period to HK$110.3 million as the Group continued to forge ahead with its OMO strategies and leverage the offline store network and unique team of Sa Sa Professional Beauty Consultants to truly deliver OMO addressing the needs of modern consumers who are looking for a seamless experience wherever they appear. Online sales mix as a percentage of total sales in the Hong Kong and Macau SARs for the period increased to 10.1% from 5.1% in the previous period. The Group believes that the contribution of OMO-driven brick-and-mortar sales will continue to grow gradually, and the importance of online business will continue to increase even when the pandemic related social-distancing measures are further relaxed in the future.

The contribution of online business to the Group’s total turnover remained steady at 19.3% for the period (previous period: 19.2%), while turnover of this business segment slightly decreased 2.6% year on year to HK$299.4 million. The online business recorded a loss of HK$19.6 million for the period largely due to pandemic disruptions and poor consumer sentiment in Mainland China, while the strength of the Hong Kong dollar against a basket of currencies including the Renminbi has challenged the Group’s pricing and impacted gross margins. Furthermore, the Group’s online sales in Mainland China was affected by the quarantine of our main warehouse in Mainland China while deliveries into its warehouses and direct cross-border deliveries to customers were subject to uncertain delays during the period, resulting in order cancellations.

Operating losses in Mainland China expected to narrow significantly in the second half as a result of streamlined store network

In Mainland China, the pandemic outbreaks in some parts of the country and related pandemic measures contributed to low consumer sentiment during the period. This had a major impact on the Group’s operations in the market, leading to 16.8% decrease in same store sales in Mainland China. The Group’s loss in Mainland China increased by 5.1% to HK$43.6 million for the period largely due to the pandemic, while it closed loss-making stores and made extensive efforts to curtail operating costs. In accordance with the Group’s right-sizing strategy, the total number of stores in Mainland China was rationalised and reduced by 35 to 42 as of the end of September 2022. These efforts are expected to significantly reduce the operating losses in Mainland China in the second half of the financial year.

Strong sales recovery in Malaysia with turnover surging 159.1%

In Malaysia, following the government’s change in its strategy for fighting the pandemic and a relaxation of its pandemic measures, the Group’s business in Malaysia has continued to rebound strongly, with sales recovering to 84% of the pre-pandemic levels. Turnover in Malaysia increased significantly by 159.1% compared to the previous period in local currency terms to HK$147.0 million and same store sales increased by 57.2%. While sales continued to surge, the Group has kept operating costs low, and as a result, in spite of the weakening Malaysian Ringgit, recorded a profit of HK$12.3 million in Malaysia during the period. The Group is optimistic about the future performance of its business in this market.

Outlook and Strategies

Looking ahead, the retail sector is expected to remain under immense pressure amid an arduous operating environment and in the face of prevalent external uncertainties. The Group has adopted a mindset of achieving sustainable profit despite the current operating environment and to this end took measures to lower the breakeven point significantly. These measures included adopting zero-based budgeting practices and tighter working capital management policies to navigate through the headwinds. These initiatives will enhance the Group’s competitiveness and enable it to become more resilient and achieve sustainable business growth when the pandemic eases.

Amidst the ongoing market uncertainty and the fine line between profit and loss at store level, the Group will not hesitate to relocate loss-making stores and those that are bearing exorbitant rents. When the border with Mainland China reopens and higher sales demand results from the return of tourists, the Group will resume opening new stores in prime locations in tourist areas at reasonable rents to allow Sa Sa to be among the first to benefit. Meanwhile, the Group will further foster OMO development through leveraging the popularity of the “buy online pick-up in store” practice, engaging consumers with OMO-related promotions, and aligning online and offline promotional activities and advertising efforts to run complementary marketing campaigns and build a holistic shopping experience.

Forging ahead with OMO development to unleash new retail potentials

One of the key competitive advantages of the Group, is a network of brick-and-mortar offline stores and the embedded experience of managing them effectively with a team of professional beauty consultants. In the new retail era, it provides the Group with an added strategic tool through the integration of physical stores and online business, including running cross-channel promotional campaigns. This model enhances the Group’s ability to analyse customer preferences and shopping habits, which in turn informs the product category development and direct-to-consumer marketing, to provide a personalised omni-channel shopping experience.

In view of the great potential of new retail in markets other than the Hong Kong and Macau SARs, the Group continues to explore OMO strategies in Mainland China to improve Sa Sa’s overall competitiveness and reach, including leveraging the WeChat mini-programme to connect Sa Sa’s beauty consultants with customers in Mainland China. To cater to the booming trend of livestreaming in Mainland China, the Group has maintained its own livestreaming team on third-party platform, Douyin, to attract a younger generation of customers. Moreover, the Group is actively seeking to enhance online product categories and introduce trending products, which is conducive to attracting new consumers to Sa Sa.

The Group’s mid- to long-term market objectives in Mainland China remain unchanged. Still, the current optimal strategy in this market is to rationalise store network and focus on optimising the operating performance of profitable stores, and increase the attractiveness of our product range to excite our customers, so that the Group can retain strength to continue to develop the Mainland China market in the long run. The Group will continue to progress online operations, further integrate the online and offline operations, and lower overall operating expenses of its business units in Mainland China. In the long run, this market is expected to return to healthy growth.

Dr Simon Kwok, SBS, JP, Chairman and Chief Executive Officer of the Group, concluded, “Despite the challenges facing the retail sector, we are confident that we can navigate through the headwinds by carrying out stringent cost management measures and strategically focusing on our online business and OMO integration to capitalise on the accelerating trend of new retail and its huge potential. Sa Sa remains steadfast in lowering breakeven point with an aim to turn around and enhance long-term profitability. We expect our business in the Hong Kong and Macau SARs to further improve in the second half of the financial year under the circumstances that the Hong Kong SAR maintains the status quo without a full reopening of the border with Mainland China, and the Macau SAR does not experience another lockdown. Sa Sa will be the first to benefit once the border of Hong Kong fully reopens. Although the Mainland China market is overshadowed by weak consumer sentiment, we expect our efforts in store network rationalisation and cost restructuring will help narrow losses significantly in this market in the second half and allow us to retain resources to support our long-term development in Mainland China. More importantly, we consider any relaxation of the Covid-19 pandemic measures to be an upside to our plan, and we are well placed to take advantage when this happens.”

FY2022/23 Q3 Operational Sales Data

For the third quarter from 1 October to 10 November 2022, the Group’s retail and wholesale turnover decreased by 1.5% as compared to the previous period. The year-on-year changes of retail sales and same store sales are shown in the table below.

In local currencies YoY Change (%)
Retail Sales Same Store Sales
HK & Macau SARs 5.6% 8.7%
  • Hong Kong SAR
2.7% 9.1%
  • Macau SAR
14.6% 7.5%
Mainland China -26.9% -14.1%
Malaysia 30.6% 31.2%
Online business -11.2%
Group Turnover -1.5%

Hashtag: #SaSaInternational

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

About Sa Sa

Sa Sa is a leading beauty product retailing group in Asia. Embracing the proven concept of “one-stop beauty product specialty platform”, Sa Sa provides diverse quality products under more than 600 brands ranging from skincare, fragrance, make-up, hair care and body care products, health & fitness products as well as beauty gadgets. Through operating more than 190 retail stores in Hong Kong and Macau SARs, Mainland China and Malaysia, as well as multiple online platforms, Sa Sa offers a customer-centric omni-channel shopping experience for consumers.

Listed on the Hong Kong Stock Exchange in 1997, the Group is included in the FTSE Index Series, MSCI Index Series and S&P Index Series.

For further information, please visit

When regulating the metaverse, lessons can be learned from existing approaches to regulating online spaces—from video games to social networks

Economist Impact and Meta to convene top policymakers and industry experts to discuss how stakeholders can work together to develop principle-based approaches to privacy, safety, and integrity in virtual worlds.

HONG KONG SAR – Media OutReach – 17 November 2022 – Challenges in governance in virtual worlds, the final webinar in the three-part series—Leading the way into the metaverse: North East Asia’s potential—will be broadcast live next week.

With virtual worlds growing more interconnected and realistic while rapidly advancing connectivity, communication and simulation, there needs to be a rethink of how governments and the industry should approach regulations and security measures for an immersive internet.

How is tech redefining the human connection and what kinds of safeguards do these new types of immersive and instantaneous social engagements require?

Taking place online on Thursday November 24th 2022 at 10am SGT/CST | 11am KST/JST, Economist Impact, sponsored by Meta, will convene top policymakers and industry experts to discuss how stakeholders can work together to develop principle-based approaches to privacy, safety, and integrity in virtual worlds.

Leading experts sharing their insights include:

  • Haksoo Ko, Chairman, Personal Information Protection Commission of the Republic of Korea
  • Yuto Kunitake, Chairman, Virtual Rights Council
  • Tammy JihHsuan Lin, Professor, National Chengchi University
  • Rob Sherman, Vice-president and deputy chief privacy officer for policy, Meta
  • Charles Ross, Principal, policy & insights, Economist Impact

View the full agenda.

Free places to attend Challenges in governance in virtual worlds are available now. For registration and webinar event details, please visit the website.

To engage with Challenges in governance in virtual worlds on social media, use #EconVirtualWorlds in your conversations and follow @EconomistImpactEvents.

Leading the way into the metaverse: North East Asia’s potential is sponsored by Meta.

About Economist Impact

Economist Impact combines the rigour of a think tank with the creativity of a media brand, engaging an influential audience in the areas of sustainability, healthcare and new globalisation. View our .

About Meta

Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.

For more information, visit .

Myanmar Frees Australian Economist, Former UK Ambassador in Mass Prison Release

Alongside Australian economist Sean Turnell, three other foreign nationals namely Japanese filmmaker Toru Kubota and ex-British diplomat Vicky Bowman, and American botanist Kyaw Htay Oo, have been released and deported from the country.

Unlocking US$5M funding access for social enterprises, Choco Up partners with Dream Impact to bring Hong Kong’s impact ecosystem to new heights

SINGAPORE – Media OutReach – 17 November 2022 – Choco Up, Asia’s leading revenue-based financing and growth platform, today announces its partnership with Dream Impact, Hong Kong’s largest network of social enterprises and impact ventures.

In support of Dream Impact’s capital services, Choco Up aims to deploy up to US$5 million in non-dilutive booster capital to help social enterprises and ventures across different impact themes, such as Diversity, Equity & Inclusion (DEI), Circular Economy and Human-Centric Education, developed by Dream Impact in line with the United Nations’ 17 Sustainable Development Goals (SDGs).

These thematic initiatives bring together different parts of society on each of these topics to identify social needs and develop social innovation initiatives. Choco Up’s growth funding is anticipated to help socially conscious businesses to achieve their vision and mission.

Filling the funding gap that many traditional financial services providers are missing out on, the growth capital could have a transformative impact on social startups and impact ventures, empowering them to scale and generate measurable social and environmental impact alongside positive financial returns.

While many other investors remain on the fence about financing impact ventures, Choco Up is one of the first financial services providers in Asia to offer funding support for socially responsible businesses on a wide scale.

Brian Tsang, Co-founder and COO of Choco Up said: “We’re excited to work with Dream Impact to support social ventures and push forward the growth of the impact ecosystem in Hong Kong. The partnership with Dream Impact marks an important milestone in our impact finance journey, as we continue to expand our reach in the impact space and work towards enhancing financial inclusion for socially conscious businesses across Asia.”

Dream Impact, which celebrates its 5th birthday this year, is an impact-first organisation in Hong Kong that is committed to connecting social entrepreneurs to resources, bridging communities for collaboration and deepening impact in different fields. Its three pillars of work, namely capital, community and solutions, are key to achieving this goal.

Turning a new chapter in Hong Kong’s impact ecosystem through cross-sector collaboration

This partnership brings the knowledge, resources and expertise of Choco Up to Dream Impact and its network of impact-focused founders and enterprises.

Bringing together the resources of two leading players in the impact and finance spaces, the cross-sector collaboration is one of a kind in Asia, opening the door to multi-million dollar funding for numerous socially conscious businesses, empowering Dream Impact to amplify the impact of its work and Choco Up to expand its social footprint across industries.

“We’re pleased to work with Choco Up as our scale-up financing business partner who is aligned with our mission. They understand the value of social enterprises and impact ventures that are making efforts to shape the future that we collectively want, and share our vision of a society where everyone is conscious of the work they do, the things they buy and the values they advocate,” said Dorothy Lam, Co-founder and Chief Catalyst of Dream Impact.

Hashtag: #ChocoUp

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

About Choco Up

is a global technology and financial services platform, offering revenue-based financing and business growth solutions for digital merchants and startups. With data analytics and machine learning at its core, Choco Up employs vast integrations to automate fund deployment, providing fast-growing companies with zero-equity funding in a quick and seamless manner. We currently have offices in Singapore and Hong Kong and serve businesses worldwide, providing smart-growth analytics and global payment solutions to fuel their growth.

About Dream Impact

is Hong Kong’s largest network of social enterprises and impact ventures, building and growing Hong Kong’s impact ecosystem. Together with a community of 90+ social enterprises & impact ventures, we strive for building collective impact through providing impact community & space, impact solutions & consultation and impact capital services.

More information on Dream Impact and Choco Up Partnership

Dream Impact is an impact-first organisation in Hong Kong that is committed to connecting social entrepreneurs to resources, bridging communities for collaboration and deepening impact in different fields. Its three pillars of work, namely Capital, Community, and Solutions, are key to achieving this goal.

Supporting the mission and growth of social impact companies with capital services

With its capital pillar, Dream Impact provides a suite of services and programs for social impact companies that are actively seeking funding or investment, helping them to prepare for fundraising, matching them to like-minded investors and providing educational programs on impact investment.

The Investment Readiness Program, for example, is designed to help impact venture founders evaluate their business strategies, financial projections, fundraising plans and product roadmaps in order to help social ventures to become investment-ready.

Dream Impact will then help entrepreneurs to set up due diligence data rooms, and connect them with potential investors who could provide capital and resources to scale up their impact projects.

Building a diverse and inclusive impact community

At the heart of its community pillar, Dream Impact is dedicated to creating a diverse and inclusive impact community in Hong Kong.

Through workshops, panel sharing, networking and other events, Dream Impact brings together socially-minded individuals and purpose-driven organisations, enabling them to tap into its vast network of impact investors, corporates, academia, NGOs and more.

Further to Dream Impact’s endeavours to create an impact community, Choco Up will share with Dream Impact’s network their knowledge and expertise in business growth in support of both fellow members and entrepreneurs.

Co-founders of Choco Up, Percy Hung and Brian Tsang, will be joining Dream Impact’s network of social innovators, serving as mentors to social startup founders and entrepreneurs, working alongside the teams throughout their business and impact growth journeys.

“As a serial entrepreneur myself, I’ve had my fair share of trial and error before I found my way to entrepreneurial success. I’ve been there, and I want to share my knowledge and experience while nurturing budding impact founders and businesses, so they don’t have to walk this journey alone or without help,” said Percy Hung, Co-founder and CEO of Choco Up.

Percy’s wealth of entrepreneurial experience, which spanned 10+ years across multiple sectors, such as food & beverage, automotive, apparel and consumer tech, would be a valuable addition to Dream Impact’s body of mentors for social founders and entrepreneurs.

In this mentorship initiative, Brian Tsang, Co-founder and COO of Choco Up likewise has something to share with Dream Impact’s community. With deep expertise and experience in credit management and investment under his belt, Brian will be guiding social founders towards impact investing opportunities, building scalable impact businesses and creating positive financial returns while carrying out their impact imperatives.

Fostering development and implementation of impact solutions across the board

At the core of its solutions pillar, Dream Impact is committed to helping corporates, NGOs, schools and other institutions to source and integrate ESG solutions into their programs, curricula and work processes. With an aim to create a real impact shift in the community, the impact-first organisation has a sharp focus on the authenticity and practical implementation of ESG solutions.

Choco Up, with their wealth of experience from working in close partnership with hundreds of businesses, some of which are impact-driven, will be sharing their expertise and actionable insights on ESG integration that Dream Impact’s clients can leverage to drive business and impact growth.

“As a technology and financial services platform, we believe that empowering our partners and clients to implement sustainable solutions to societal challenges is the best way to create impact in society. It’s with our unique access to proprietary data and real case studies on businesses in different stages and sectors that we can provide insights to help Dream Impact to improve on their solutions,” said Brian Tsang, Co-founder and COO of Choco Up.

Foresight Signs Commercial Agreement With SUNWAY-AI for up to $51M

Foresight’s QuadSight® technology will provide driver assistance features to Chinese airport vehicles

NESS ZIONA, ISRAEL – News Direct – 17 November 2022 – Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight”), an innovator in automotive vision systems, announced today the signing of a joint development and supply agreement with SUNWAY-AI Technology (Changzhou) Co., Ltd. (“SUNWAY”), a global Chinese manufacturer of components for autonomous and unmanned intelligent vehicles. Over the contractual period of four years, the deal may yield up to $51 million in revenue based on demand from SUNWAY.

“Having tested Foresight’s technology extensively for more than a year, we believe that this partnership has great commercial potential in multiple applications and markets. We are completely satisfied with the performance of Foresight’s technology and have selected it because of its accurate point cloud and exceptional obstacle detection capabilities, which consistently outperform competing sensors in adverse weather and poor lighting conditions,” said Mr. Zheng Kui, Executive Director at SUNWAY. “Foresight’s passive, non-emitting sensors are a perfect fit for airport vehicles that employ autonomous systems in sensor-filled environments and can benefit from non-interfering solutions.”

The agreement establishes a joint program for the development and supply of obstacle detection systems and cloud gateway for driverless vehicles, as well as for advanced driver assistance systems (ADAS) for airport ground support vehicles, using both visible light and thermal cameras. Starting in the first half of 2023, SUNWAY will commercialize the ADAS systems to its customers and to third parties in Mainland China, as well as to Hong Kong, Taiwan and Macao. SUNWAY will assume responsibility for all regulatory clearances in connection with commercialization, as well as all installation, deployment, maintenance and support activities. Additionally, and subject to predefined commercial terms, SUNWAY was granted exclusive commercialization rights in China regarding the ADAS systems for ground support vehicles used in airports.

“Foresight’s selection by SUNWAY is a solid endorsement, reflecting recognition of our state-of-the-art vision systems by a Chinese automotive leader. We believe that the installation of our innovative QuadSight technology in various airport vehicles using advanced ADAS systems will bring a new level of safety and reliability to airport ground operations across China,” said Foresight CEO Haim Siboni. “We believe our technology, combined with SUNWAY’s, has a great potential for further deployment in additional applications and markets in China, such as agriculture and infrastructure,” Siboni concluded.

Foresight’s QuadSight® stereoscopic technology, including both proprietary software and cameras, will be licensed to SUNWAY and will serve as the underlying technology for SUNWAY’s ADAS systems, intended for integration into several types of vehicles working closely with aircraft, including fueling vehicles, garbage trucks, boarding vehicles, etc. The QuadSight system allows all obstacle detection in challenging weather and lighting conditions.

Hashtag: #Foresight

About SUNWAY-AI Technology

SUNWAY-AI Technology (Changzhou) Co., Ltd. focuses on research and development, design, manufacturing, and sales of intelligent vehicle technology and products. SUNWAY’s employees include technicians from the Institute of Automation of the Chinese Academy of Sciences, Tsinghua Automobile Research Institute, BAIC, and China Automobile. SUNWAY’s technologies and products equip autonomous vehicles, unmanned logistics and transportation vehicles, and unmanned commercial vehicles. Commercial cooperation to date includes well-known domestic enterprises such as XCMG group, LiuGong Group and Shenzhen Airport.

About Foresight

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.

Foresight’s vision solutions include modules of automatic calibration and dense three-dimensional (3D) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics.

For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow on Twitter, or join on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses the projected revenue that may be derived from the agreement, the belief that the partnership has great commercial potential in multiple applications and markets, that the selection by SUNWAY reflects the recognition of its technology, that the installation of its technology in various airports will bring a new level of safety and reliability to airport ground operations across China and the potential for the technology, in combination with SUNWAY’s, has potential for further deployment in additional applications and markets in China. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release.

The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Foresight’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third-party websites.

Arvato Supply Chain Solutions expands to Australia / New location in Sydney expands Arvato’s global network

GUETERSLOH/SYDNEY – Newsaktuell – 17 November 2022 – Arvato Supply Chain Solutions opens its first warehouse in Australia. The new site in Villawood, the Greater Sydney area, has a 4,000-square-meter warehouse area and a capacity of more than 3,000 pallet spaces. The state-of-the-art new building is setup to meet the highest Tapa A security level and serves as a multi-client center for our customers.

The location was set up in 3 months due to the joint efforts of the team. Copyright: Arvato Supply Chain Solutions

The location was set up in 3 months due to the joint efforts of the team.
Copyright: Arvato Supply Chain Solutions

“The new warehouse near Sydney demonstrates our truly global footprint,” says Frank Schirrmeister, CEO of Arvato Supply Chain Solutions. “With locations across five continents, we can offer our customers one-stop services worldwide – with on-site local experts and a global IT system that serves as reliable data backbone for our customized supply chain solutions.” The opening of the new site is a part of the company’s global growth strategy. Over the past six years, Arvato’s international warehouse space has increased by 76%. The e-commerce and supply chain service provider is now represented in a total of fourteen locations in the Asia-Pacific (APAC) economic region, including mainland China, Hong Kong, Singapore, and Japan distribution centers.

“Over the past five years, we have continuously expanded our presence and customer base in the APAC countries. Now we are proud to announce the opening of our first warehouse in Australia,” explains Raoul Kuetemeier, Head of Asia at Arvato Supply Chain Solutions. “The new location, where we will serve three of our leading global customers with B2B and B2C distribution, is the starting point for our further expansion in Australia and the Asia-Pacific region.” The logistics services Arvato provides for its customers in Villawood include warehousing, order picking and transportation management, direct distribution to retailers and end users, IOR/EOR processing for seamless customs clearance and trade compliance, computer flashing, software installation, bundling and other value-added services.

The new warehouse also offers the best conditions for fast distribution of products. Due to its location in the industrial suburb of Villawood in Central Western Sydney, it is very well connected to the transportation system. The Sydney business district, Sydney Airport and Port Botany are all within a radius of about 30 kilometers. There are five freeway entrances within a ten-kilometer radius that connect to the national highway network in all major directions. The new distribution center also scores highly in terms of sustainability. A photovoltaic has been installed on the roof to generate renewable energy. All warehouse and office spaces are equipped with LED lighting with motion and daylight sensors, and all windows are double-glazed to improve thermal performance and reduce energy consumption for heating and cooling. Andreas Barth, President Industry Vertical Tech and Group Head of Corporate Responsibility & Sustainability at Arvato Supply Chain Solutions, adds: “Arvato’s corporate goal is to be climate neutral by 2030. With the new hall in Villawood, which is designed to be environmentally friendly, we are making an important contribution to achieving this goal.”

For more information, please visit www.arvato-supply-chain.com.

Hashtag: #Arvato

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

VinFast celebrates Canadian launch with opening of first store at Yorkdale Shopping Center

TORONTO, CANADA Media OutReach – 16 November 2022 – VinFast officially opened its first Canadian store at Yorkdale Shopping Centre in Toronto, Ontario. The flagship location is part of the company’s rollout in Canada, with seven more stores set to open before year end, including two locations at CF Carrefour Laval in Quebec, and Park Royal Shopping Centre in Vancouver, British Columbia.


The VinFast Store network in Canada is part of VinFast’s go-to-market strategy, in which eight retail and service centers opening in 2022 will be the first in a network of locations to build personalized relationships with Canadian customers, ensuring reliability, convenience and peace of mind throughout the process of purchasing and owning their VinFast vehicles.

Designed to convey the “Future of Mobility” theme, VinFast Yorkdale is created with futuristic and minimalist design languages, advanced technology, interactive consumer experience. The spacious in-store ambience blends modern finishes sourced from local Canadian producers with design elements inspired by the beauty of Vietnam’s natural wonders to provide customers with a seamless experience.

With a prime location, customers can access VinFast Yorkdale with ease to explore the interior and exterior details of VinFast’s electric SUVs – the VF 8 and VF 9, while experiencing the advanced technologies and engaging one-on-one with VinFast product experts. At VinFast Yorkdale, visitors will also be able to test drive the VF 8 and viewvehicle features on a large LED screen – an exclusive for VinFast, globally.

Mr. Huynh Du An, CEO of VinFast Canada shared: “The opening of the first store in Canada marks the next milestone in VinFast’s global expansion journey. Our network of stores will be key in interacting with our customers, ensuring quality service, and strong relationships in Canada on our journey towards a sustainable future.

Customers can visit VinFast Yorkdale at 3401 Dufferin St, Toronto, ON M6A 2T9 and reserve the VF 8 and VF 9 on VinFastAuto.ca, as well as stay up to date on future VinFast events and the upcoming store openings:

  • VinFast Carrefour: CF Carrefour Laval, 3003 Boul. le Carrefour, Laval, QC H7T 1C7
  • VinFast Park Royal: Park Royal Shopping Centre, 2002 Park Royal S, West Vancouver, BC V7T 2W4

Hashtag: #Vingroup #VinFast

About VinFast

VinFast – a member of Vingroup – envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.

Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: .

About Vingroup

Established in 1993, Vingroup is one of the leading private conglomerates in Asia, with a total capitalization of approximately $35 billion USD from three publicly traded companies. Vingroup currently focuses on three main areas: Technology and Industry, Services, and Social Enterprise. Find out more at: .