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Johnson Electric reports results for the year ended 31 March 2022

Highlights of FY2021/22 Results

  • For the financial year ended 31 March 2022, total sales amounted to US$3,446 million – an increase of 9% compared to the prior year. Excluding the effects of foreign currency movements and an acquisition, underlying sales increased by 7%
  • Gross profit totalled US$702 million – a decrease of 3%
  • EBITA, adjusted to exclude restructuring charges and significant non-cash items, decreased by 27% to US$244 million or 7.1% of sales (compared to 10.6% of sales in FY2020/21)
  • Net profit attributable to shareholders totalled US$146 million – a decline of 31% compared to the prior year
  • Underlying net profit totalled US$165 million – a decrease of 34%
  • As of 31 March 2022, cash reserves amounted to US$345 million and the ratio of total debt to capital at the financial year end was 16%

HONG KONG SAR – Media OutReach – 12 May 2022 – Johnson Electric Holdings Limited (“Johnson Electric”), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2022.

Group sales for the 2021/22 financial year totaled US$3,446 million – an increase of 9% compared to the prior year. Excluding the effects of foreign currency movements and an acquisition, underlying sales increased by 7%. Net profit attributable to shareholders totalled US$146 million or 16.23 US cents per share on a fully diluted basis. Underlying net profit was US$165 million, a decrease of 34% compared to the prior year.

Sales Performance

The Automotive Products Group (“APG”), Johnson Electric’s largest operating division, achieved sales of US$2,644 million. Excluding currency effects and an acquisition, APG’s sales increased by 5%. This compares to a reduction in global light vehicle production volumes of approximately 1% over the same period.

Although the global economy was on a broadly improving trajectory for most of the 2021 calendar year, the automotive sector has remained under capacity-constrained conditions and unable to meet pent-up, underlying consumer demand – with global vehicle production volumes still more than 10% below their pre-pandemic levels. The largest constraining factor has been the persistent shortage of semiconductors necessary for manufacturing a large number of auto components and subsystems. As a result, OEMs have continued to make almost constant amendments to production schedules and focused their attention on a smaller number of vehicle models.

Additional factors hampering the auto industry’s supply chain and disrupting production over the past year have included shortages of other specialist raw materials and components, disruptions to container shipping schedules, the outbreak of war in Ukraine and the recent resurgence of COVID-19 in China that has resulted in government-mandated factory shutdowns.

This unprecedented set of operational challenges is occurring at the same time that the industry is undergoing a fundamental structural shift away from internal-combustion engine technologies and towards hybrid and fully electric vehicles.

In these difficult operating conditions, APG has continued to achieve sales growth well above the light vehicle production volumes of the industry in every major geographic region. In the Americas, APG increased sales by 10% compared to industry production volume growth of 3%. In Europe, sales grew by 3% compared to a 10% decline in the region’s vehicle production (with volumes in the key market of Germany dropping by almost 14%). And in Asia, our sales increased by 4% compared to a 1% decrease in overall industry output (including a 4% decline in China’s passenger vehicle production during the period under review).

APG is able to continue to deliver encouraging growth in sales due to a product portfolio that is focused on the key long-term technology trends transforming the industry. This includes innovative technologies that enable electrification, reduce emissions, enhances safety and comfort, and heats, cools or lubricates critical vehicle systems.

The Industry Products Group (“IPG”) achieved sales of US$802 million, which represented 23% of total Group sales. Excluding currency effects, IPG’s sales increased by 12%.

This very satisfactory sales performance by IPG reflected both the continued progress being made to position the division to serve a range of exciting, high growth market segments and the generally buoyant global demand for consumer and industrial goods. It should be noted that while semiconductor and other materials shortages have also constrained supplies to many of IPG’s end-markets, these disruptions have tended to be somewhat less severe than those experienced by the automotive sector.

The changes to consumer behaviour that emerged during the pandemic, including the rise in demand for “home-centric” products, remained a strong growth driver for many of the product applications served by IPG – although a slowdown in demand in some of these segments occurred during the second half of the year. The division achieved significant growth in the lawn and garden, ventilation, beverage, heating, window automation and white goods segments due to a combination of program launches and new business wins, higher market share and increased market demand.

On a regional basis, IPG experienced strong growth in Europe and the Americas as sales in the prior year were constrained by the impact of the COVID-19 pandemic. Sales in Asia, however, declined slightly – due to the combination of the different year-on-year pattern of pandemic-related effects on demand in China (including the most recent re-imposition of lockdowns in some provinces) and customer-specific situations that have been exacerbated by materials and component shortages.

Gross Margins and Operating Profitability

The Group’s gross profit amounted to US$702 million – a decrease of 3% compared to the prior year and, as a percentage of sales, a decrease from 22.9% to 20.4%. The decline in gross margins reflected the combination of higher underlying raw material costs, rising labour costs (exacerbated by the inefficiencies caused by components shortages, disruptions to customer production schedules and recent government-mandated factory shutdowns in China), the ending of pandemic-related one-off cost-saving initiatives and subsidies, higher depreciation and customer contractual price reductions. These sharp increases in input costs were only partially offset by sales volume growth, hedging contracts and product price increases where contractually feasible.

Earnings before interest, tax and amortization (“EBITA”), adjusted to exclude the effects of restructuring charges and significant non-cash items, amounted to US$244 million or 7.1% of sales. In addition to the factors negatively impacting gross margins noted above, the major factors reducing profitability at the operating level were the sharp increase in freight and logistics expenses and also higher infrastructure costs and investments in IT.

Net Profit and Financial Condition

Net profit attributable to shareholders decreased by 31% to US$146 million or 16.23 US cents per share on a fully diluted basis. Underlying net profit, excluding the effects of restructuring charges and significant non-cash items, amounted to US$165 million compared to US$251 million in the prior year.

The combination of reduced profit, higher capital investments and, in particular, a significant increase in working capital requirements in response to rising end-market demand resulted in a free cash outflow of US$132 million (compared to a free cash inflow of US$171 million in the prior year). Notwithstanding a reduction in cash reserves to US$345 million as of 31 March 2022, Johnson Electric’s financial condition remains sound with a total debt to capital ratio of 16%.

Dividends

Several of the macro-economic headwinds and supply chain disruptions currently impacting Johnson Electric’s operations can be considered exceptional and potentially short-term in nature. The Board nonetheless considers it prudent for the Company to conserve its cash until operating conditions and the financial performance of the business improve. It has therefore recommended a final dividend payment of 17 HK cents per share. Together with the interim dividend of 17 HK cents per share, this represents a total dividend of 34 HK cents per share (compared to a total dividend of 51 HK cents per share in the prior year), equivalent to 4.36 US cents per share.

The final dividend will be payable in cash, with a scrip alternative where a 4% discount on the subscription price will be offered to shareholders who elect to subscribe for shares. The Board has further been informed that the controlling shareholder of the Company intends to subscribe for its entire eligible allocation of shares under the scrip dividend alternative. Full details of the scrip dividend alternative will be set out in a circular to shareholders.

Business Strategy and Management Initiatives to Improve Performance

The challenging operating environment does not alter the core elements in the Group’s business strategy which include:

  • investing in innovative motion-related products and technology solutions that address society’s long term demand trends, particularly in the areas of electrification, emissions reduction, automation, mobility, safety and healthcare
  • offering a highly responsive and low-cost manufacturing fulfilment model that effectively serves customers on a global and regional basis
  • accelerating the transformation of our business processes and data management through the deployment of the latest digital platforms and tools

However, it has become increasingly evident that the effects of both the recent series of shocks to “just-in-time” manufacturing supply chains and the global inflationary surge in input costs are not likely to abate in a meaningful way in the short term. This is requiring an immediate and far-reaching response from management that extends to every part of our business.

All business groups and functional areas have been set aggressive cost reduction goals for the new financial year that regrettably requires targeted reductions in labour and staffing levels in order to maintain our competitiveness. Part of these headcount savings will be enabled by our investments in high-speed manufacturing automation and the ongoing optimisation of our operating footprint. Raw material and other components procurement contracts are being scrutinized for rationalization and cost saving opportunities. Within our functional areas, business processes are being streamlined and new digital tools adopted to reduce cost and improve productivity.

Chairman’s Comments on the Annual Results and Outlook

Commenting on the annual results for the financial year 2021/22, Dr. Patrick Wang, Chairman and Chief Executive, said, “The financial year 2021/22 has been particularly challenging for Johnson Electric as several macro-economic and industry-specific factors have placed severe pressure on global component manufacturing supply chains. Although sales growth has been robust as the world economy continued its recovery from the COVID-19 pandemic, rising input costs and externally-driven disruptions to our operations sharply reduced profit margins.”

Commenting on the outlook for the business, Dr. Patrick Wang, said, “Within the automotive sector, the uptake of new energy vehicles (NEVs) – both hybrid and fully-electric – is accelerating. In Europe, for example, electrically-chargeable cars now account for almost one in every five new vehicles sold. Although the NEV sector is still highly reliant on support measures such as purchase incentives and the availability of charging infrastructure, few can doubt that the greatest opportunities for future growth lie in this segment of the industry. Johnson Electric is strongly positioned to leverage its long-standing electro-mechanical expertise and global manufacturing footprint to continue to grow our share of content in NEVs, particularly in the areas of thermal management, electric driveline, braking and power steering.”

“Technology advancements and evolving consumer preferences are presenting similarly exciting growth opportunities for the IPG division. Across a wide range of end-market applications, the demand for new products that feature increased levels of automation, energy efficiency, controllability and precision play directly to Johnson Electric’s core strengths and capabilities. And, as exemplified by our new venture in AI-driven quality assurance software, IPG will not be limiting itself only to hardware components.”

“On the other hand, the externally-driven headwinds and disruptions that hampered our operations and pressured our financial performance in the past year look set to continue in the near term.”

“For much of the past year, a key challenge has been the shortage of semiconductors and other components that has constrained our ability to meet customer demand. These industry-wide shortages have yet to be resolved, but an emerging risk is that the sharpest rise in global inflation since the early 1980s now has the potential to crimp consumer demand in some end markets. Added to this, it is difficult to overstate the risks stemming from Russia’s invasion of Ukraine (the largest military conflict in Europe since World War II) and the resurgence of COVID-19 in China.”

“Faced with such daunting macro-economic and geopolitical uncertainties, we remain focused on those aspects of our business that we can directly influence and taking actions, wherever possible, to mitigate the risk of things outside of our control.”

About Johnson Electric Group

The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 22 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: .

Forward Looking Statements

This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.

Words such as “outlook”, “expects”, “anticipates”, “intends”, “plans”, “believe”, “estimates”, “projects”, variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric’s present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.

#JohnsonElectric

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

Nefin Group Partners With Snakepit And Echo Base To Power Razer Sea Hq, Supporting Razer’s Journey To Carbon Neutrality

The organisations have joined forces to build Razer’s first solar installation at its Southeast Asia HQ, with the aim of developing an advanced monitoring system for solar power generation

SINGAPORE – Media OutReach – 12 MAY 2022 – NEFIN Group (“NEFIN”), Asia’s leading developer and investor in carbon neutrality solutions, is partnering with Snakepit-BP LLP (“Snakepit”) and Echo Base-BP Capital Pte Ltd (“Echo Base”), both joint ventures of Boustead Projects Limited (“Boustead Projects”), to build Razer Inc (“Razer”)’s first solar installation at its Southeast Asia Headquarters (“Razer SEA HQ”) in Singapore.

Photo Captions:
Top-left & Center: Signing Ceremony with [from left] Mr. Bryan Lim, Managing Director of Echo Base, Mr. Min-Liang Tan, CEO and co-founder of Razer, & Ms Clara Kwan, COO of NEFIN Group.
Top-right: Mr. Min-Liang Tan, CEO and co-founder of Razer, & Ms Clara Kwan, COO of NEFIN Group.
Bottom:
Razer Building at 1 One-North Crescent.

Developed by Snakepit and managed by Echo Base, the Razer SEA HQ is designed with sustainability in mind and has been awarded the Green Mark Gold Plus by Singapore’s Building and Construction Authority. Under its ten-year sustainability plan #GoGreenWithRazer, Razer, the leading global lifestyle brand for gamers, has committed to becoming a greener organisation by transferring its entire operations to 100% renewable energy by 2025 and becoming fully carbon neutral by 2030. The installation supports these objectives as it will integrate renewable energy into Razer’s daily operations in Singapore, building the foundation for renewable energy to be an integral energy source for its business.

NEFIN started in Hong Kong in 2014 and has delivered over 3,000 MW of solar and green financing projects in its combined portfolio globally. Being a one-stop turnkey provider to multinational corporations across its renewable energy portfolio, NEFIN can simplify the process of going green. NEFIN’s Singapore office was set up last year as a regional headquarters to cater to NEFIN’s further expansion in the Asia Pacific.

The collaboration will involve the mounting of 380 pieces of solar panels on the rooftop of Razer SEA HQ located at 1 One-North Crescent. This will generate 256,000 kWh of energy annually, offsetting 3,600 metric tonnes of carbon emissions over 20 years, which is almost equivalent to planting 59,976 trees or powering 609 homes. The photovoltaic system carries sensors that measure fluctuations in solar radiance and collect scientific data concerning system performance. This data can then be collated and analysed to develop an advanced monitoring system for solar power generation. With NEFIN’s extensive expertise in commercial and industrial rooftop solar systems, this project is set to deliver a thoughtful solution that will mark Razer SEA HQ as a high-performance and energy-efficient development.

Mr Bryan Lim, Managing Director of Echo Base said, “As part of our endeavour to deliver the best-in-class eco-sustainable real estate solutions and smart building developments, we are proud to embark on this solar panel installation at Razer SEA HQ with NEFIN to support Razer’s transition to green energy that will improve their energy efficiency. Our shared value and purpose in sustainability is the driving force behind this partnership which will create more positive environmental impact from our portfolio while supporting Razer’s sustainability aspirations.”

Ms Clara Kwan, COO of NEFIN Group, shared, “It is an honour to be able to partner with Boustead Projects and Razer. Their commitment towards a sustainable future fully complements NEFIN’s goals of ESG and helping clients achieve both business and sustainability targets. On behalf of NEFIN and as a fellow Singaporean myself, we are excited to be playing a part in the Singapore Green Plan 2030, emphasising the importance for organisations in Singapore to strive towards carbon neutrality. This collaboration also marks NEFIN’s entrance into Singapore’s renewable energy market and further expansion in Southeast Asia. NEFIN also believes that the future of the world is everyone’s responsibility and strives to redefine energy and its role in creating a sustainable future.”

“This partnership isn’t just about installing solar panels on Razer SEA HQ, it’s a lot more than that. It’s about a group of reputable organisations committed to preserving the environment and protecting the planet by working together to innovate solutions,” said Mr Min-Liang Tan, CEO and co-founder of Razer. “We are grateful to NEFIN and Boustead Projects for supporting our #GoGreenWithRazer ambitions of ensuring the planet remains a field we can all continue to play in.”

NEFIN’s upcoming plans in Singapore include partnering Tuas Power in the HDB Solar Leasing of Grid-Tied Solar Photovoltaic System (SolarNova Phase 7) tender. With more local projects in the pipeline, we are geared up to achieve carbon neutrality for corporations in Singapore.

About NEFIN Group

NEFIN Group is a regional renowned carbon neutrality solutions provider and investor with a bespoke unified energy management platform committed to achieve carbon neutrality for organizations and is backed by AC Energy. Founded by a core management team of DuPont Solar Business, the management team has grown into a well-rounded team of engineers, legal experts, investment bankers and techno-commercial experts with combined experience of over 40+ years of project development in Asia and 50+ years of engineering experience. NEFIN Group has over 3,000 MW of utility-scale, commercial and industrial rooftop solar systems in its combined portfolio regionally. As a strong cohesive team, NEFIN Group is able to offer a comprehensive 360-degree assessment and full-suite of services on socially responsible and commercially viable projects through innovative approaches to technology under its unified energy management platform. NEFIN believes the future of the world is everyone’s responsibility and strives to redefine energy boundaries towards a sustainable future.

Please refer to NEFIN’s website for more information and follow us at .

About Razer Inc

Razer™ is the world’s leading lifestyle brand for gamers.

The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, the company has designed and built the world’s largest gamer-focused ecosystem of hardware, software and services.

Razer’s award-winning hardware includes high-performance gaming peripherals and Blade gaming laptops.

Razer’s software platform, with over 175 million users, includes Razer Synapse (an Internet of Things platform), Razer Chroma RGB (a proprietary RGB lighting technology system supporting thousands of devices and hundreds of games/apps), and Razer Cortex (a game optimizer and launcher).

Razer also offers payment services for gamers, youth, millennials and Gen Z. Razer Gold is one of the world’s largest game payment services, and Razer Fintech provides fintech services in emerging markets.

Founded in 2005, Razer is dual-headquartered in Irvine (California) and Singapore, with regional headquarters in Hamburg and Shanghai. Razer has 18 offices worldwide and is recognized as the leading brand for gamers in the US, Europe and China.

#NEFIN

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

Oracle Red Bull Racing Drivers Max Verstappen and Sergio Pérez Take a Ride to Become Crypto Insiders With Bybit

  • As one of the crypto-inspired initiatives of its partnership with Oracle Red Bull Racing, Bybit created the #BybitLevelUpChallenges, a series of videos featuring Oracle Red Bull Racing F1 drivers Max Verstappen and Sergio ‘Checo’ Pérez about digital assets and technology in racing.
  • In the latest episode, Max and Checo opened the crypto-racing dictionary and took up Bybit’s “Crypto Slang Challenge”, an original way to learn the meaning of crypto trading terms such as “HODL”, “Gas Fees”, “Bear Market”, “Fiat on-ramp” or their favorite, “When Lambo”.

DUBAI, UNITED ARAB EMIRATES – Media OutReach – 12 May 2022 – Bybit, one of the world’s fastest growing cryptocurrency exchanges, premiered the “Crypto Slang Challenge”, the second episode of its crypto-inspired series #BybitLevelUpChallenges. Conceptualized as a beginner’s guide to pave the way forward for the crypto curious in ways that are immediately relevant to race fans, the new episode features Oracle Red Bull Racing drivers Max Verstappen (2021 Formula 1 Drivers’ World Champion) and Sergio ‘Checo’ Pérez on a crash course challenge to decipher the latest and most common crypto trading terms and slang in both the crypto and racing world. It turns out that both industries have a lot in common.

The Crypto-Racing Dictionary, created by Bybit to help F1 fans and crypto enthusiasts alike understand relevant terms that are applicable in both the crypto and racing world

Hosted exclusively on Bybit Race Insider and Bybit’s official social channels (Twitter, Facebook, Instagram, LinkedIn), fans will be able to check out the drivers’ performance in learning the meaning of crypto trading terms such as “HODL”, “Gas Fees”, “Bear Market”, “Fiat on-ramp” or their favorite, “When Lambo”.

F1 drivers are extremely competitive and confident by nature and both Max and Checo showed it on the Crypto Slang Challenge, as they tried to guess the meaning of terms and acronyms related to cryptocurrency trading, while also establishing similarities using those terms in the racing world. The result: Oracle Red Bull Racing drivers are now far more knowledgeable on crypto references.

Snippets from the episode where Max and Checo both tried deciphering crypto slang and references

In a race to become Bybit Insiders themselves, Oracle Red Bull Racing drivers took on the challenge to guess and appreciate the meaning of expressions such as “gas fees” (blockchain transaction fees), “position” (a trade) or “fiat on-ramp” (a reference for one-stop conversion of fiat money into cryptocurrency). Crypto enthusiasts and F1 fans alike are in for a good laugh, as Max and Checo tried their hands (and luck) at guessing the meaning of acronyms such as ATH (all-time high) and FUD (fear, uncertainty and doubt).

When the drivers were asked to guess the meaning of “HODL” (an acronym for “hold on for dear life”, an expression used by crypto enthusiasts referring to a long-term approach to cryptocurrency) 2021 Formula 1 Drivers’ World Champion Max Verstappen quickly stated “stick to your position”, showing that he has some grasp of the investment jargon.

When the drivers were shown the term “diamond hands”, Verstappen immediately responded “that’s Checo”, and Max was right in a way, as crypto enthusiasts use this expression to talk about high risk tolerance when trading and investing — this bears some similarity to Checo’s stellar strategies that earned him the title as “Minister of Defense”.

“Is where things are really nasty on the market,” said Checo when asked the meaning of the term “bear market”, displaying his knowledge.

But perhaps the most entertaining part of the challenge was when Max and Checo were asked to guess the meaning of the expression “when Lambo?” as Max promptly responded “when to shine through the streets… show off”, while Checo added, “you’ve done well in crypto, you have to show it”.

Before the start of the 2022 Formula 1 season, Bybit became Oracle Red Bull Racing’s exclusive Principal Team Partner, Cryptocurrency Exchange Partner, Fan Token Issuance Partner and Tech Incubator Partner. Both crypto and racing fans can now look forward to more exclusive content and exciting initiatives only available at the Bybit Race Insider — check it out to stay updated on what else Max and Checo might be up to together with Bybit!

As the Fan Token Issuance Partner and Tech Incubator Partner, Bybit will support Oracle Red Bull Racing with the distribution of its growing digital asset collections among other endeavors, so fans will have to stay tuned for more surprises in the near future.

About Bybit

Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.

For more information please visit:

For updates, please follow Bybit’s social media platforms on








#Bybit

Cars for the Metaverse: Join Overleague’s Livestream Launch Event on 15 May 2022

First-of-its-kind launch event will be livestreamed on 15 May 2022, followed by an exclusive sale of Kubik, Overleague’s in-game NFT boxes

SINGAPORE – Media OutReach – 12 May 2022 – Iron Sail, a collective effort aimed at contributing to the development of the blockchain gaming space, will be launching its latest GameFi offering, Overleague, which presents an exciting opportunity for players to build, design and own cars in the metaverse on 15 May.

OVL-Event.jpg

In support of the game’s official launch this week, Iron Sail will be running a livestream event themed “Cars for the Metaverse” on the Overleague website, details of which are as follows:

Date: Sunday 15 May
Time: 7PM (UTC +7)
Website: http://overleague.io/

Highlights of the livestream event include:

Car showroom: Displaying the latest car collections, including teasers of Overleague’s special elements that players can look forward to such as race tracks, and the car accessories market
Open metaverse experience: The event will bridge online-offline experiences by hosting a mix of live and virtual presentations and performances
NFT sale: A launch promotion for 10,000 of Overleague’s in-game NFT boxes, Genesis Kubik, containing 4 random unique car parts will be up for grabs from 8PM (UTC+7) 15 May to 8PM (UTC+7) 22 May.
Exclusive minting experience: Players who assemble the first unique in-game cars among the 5300+ models are qualified for a $1 million USDT reward pool and able to mint them on ETH.

More details on the promotion will be revealed during the livestream, which may be accessed through the Overleague website.

About Iron Sail

Iron Sail’s goal is to move towards an open metaverse – a future where everyone and everything is connected together in both online and offline experiences. It also aims to make blockchain project development more accessible and sustainable, while minimizing risks for investors.

# IronSail

Lenovo Experiential Day 2022 showcases end-to-end solutions that envision a smarter future in Singapore

The event underscores Lenovo’s suite of smart solutions comprised of hardware, software and services to fire up the workplace of the future in more sustainable ways

SINGAPORE – Media OutReach – 12 May 2022 – Lenovo’s flagship event in Singapore – Experiential Day made a comeback with its first in-person showcase in almost two years at JW Marriott Hotel South Beach. Lenovo Experiential Day put digital transformation 2.0 front and center, demonstrating how organizations can adapt to the changing configuration of work and evolve their workplaces with smarter, more integrated, and personalized experiences. The showcase underlines the company’s mission to deliver smarter technology to all, and comes at a crucial time as organizations face multiple headwinds.

Lenovo-Experiential.JPG

With hybrid work becoming a permanent configuration, the one-day event opened the doors for customers, partners, and the media to meet and speak with Lenovo’s experts who were on hand to share Lenovo’s vision for end-to-end, service-led solutions featuring Lenovo’s extensive suite of devices, services and solutions through six immersive experience zones. The event provided its audience a peek into the smart workplace of the future to demonstrate how CIOs can re-examine their IT infrastructure, while keeping in mind aspects such as employee experience and Environmental, Social, and Governance (ESG).

Lenovo Experiential Day 2022 also featured a robust conversation on “Reimagining A Smarter Future Together”. Moderated by award winning actress and serial entrepreneur Irene Ang, the panel featured Nigel Lee, General Manager, Intelligent Devices Group, Lenovo Singapore, Clara Chen, Founding Managing Partner of Singapore Deep-Tech Alliance (SDTA), and Dr. Dennis Khoo, Managing Partner at allDigitalfuture, Bain External Advisor Singapore and author of Driving Digital Transformation.

“Lenovo Experiential Day 2022 is a great opportunity for us to showcase our solutions, from devices to software and services, all tightly integrated and presented in a narrative that highlights the impact that we are making to organizations and industries in Singapore,” said Nigel Lee. “We are putting a spotlight on our efforts as a service-led company in how we are bringing all these incredible technologies – Artificial Intelligence, Augmented Reality/Virtual Reality–into the world, and transforming experiences in the workplace and the classrooms of the future. And we are very proud that we are achieving this in a way that’s sustainable.

“In many ways, our goals are also made more impactful through our partnerships with like-minded organizations like Singapore Deep-Tech Alliance, to help Industry 4.0 startups bring advanced technologies to market at scale to solve some of the world’s biggest problems. We are also honored to be joined by Dr Dennis Khoo, a strategic partner, who is working with us to elevate organizations’ digital transformation here in Singapore. ”

How these technologies fit in the workplace of the future

To tie together a range of technologies – devices, software, services – Lenovo developed an underlying workplace narrative featuring local actors from FLY Entertainment – Amy J Cheng, Andrew Marko, and Alan Wan. Titled “Smarter Work at Play”, the actors brought to life the possibility of a brighter and smarter workplace with breakthrough technologies, aligning purpose with user-centricity to drive more positive experiences in everyday life. These experiences, divided into six zones, included:

Lenovo Building & Workplace Solutions

Showcased to the Singapore audience for the first time, this zone featured the launch of Lenovo’s new suite of building and workplace solutions to address a core challenge in the workplace today – the increasingly complex needs of a hybrid workforce. Lenovo’s Workplace Solutions zone showed how solutions like simplified workspace booking, utilization analytics, and smart facilities management coupled with professional services can help businesses provide employees with enhanced flexible working options, offering the benefits of both in-office interactions and remote work. The Lenovo Workplace Solutions portfolio helps businesses and CIOs adapt to the hybrid work era with several smart workspace solutions, including:

  • Workspace Booking: Scheduling software offering real-time visibility on workspace occupancy enabling employers to manage capacity better, helps employees book facilities quickly to save time, and improves contact tracing with automated post-event reporting.
  • Workplace Analytics: Delivered via a dashboard providing real-time insights on space usage, based on non-invasive data from heat and motion sensors.
  • Digital Signage: Content management system that turns traditionally static displays and signages at high-traffic locales and touchpoints into visually-rich multimedia screens that is dynamically updated to convey important updates in a timely manner.
  • Smart Locker: Flexible self-service storage service enabling employees to store, pick up and drop off assets securely 24×7 with minimal fuss and reduced waiting time.
  • Smart Collaboration: All-in-one meeting room solution with video conferencing software and integrated devices that are easy to use and scale according to meeting sizes, protected by ThinkShield, a suite of security solutions to safeguard users’ privacy and data.

Lenovo Smarter Learning

Highlighted in this zone was Lenovo Aware – a software that provides users with heath care solutions to help them make better use of their PCs, and also provides an “Attention Function” to help users stay focused and motivated, while improving their hybrid working and learning experience. Whether it is working parents managing their children learning remotely or professionals working on the go, Lenovo Aware addresses the challenge of excessive screen time, ensuing body posture and vision issues by using the PC’s built-in camera to detect a person’s body language and eye contact with the device. Activated within Lenovo Vantage, it is a manual opt-in service that reminds users to sit back from the screen, straighten their posture, or simply take a break from their PC to rest their eyes.

Smart Distance Learning

There is little doubt that COVID-19 has made the past few years an age of distance learning. Not just applicable to teachers who need to prepare remote learning materials, but professionals who may need to prepare for trainings, workshops, and seminars virtually. This zone demonstrated how devices, software and services are being integrated to make it easy for attendees and presenters, and showed that setting up an engaging session virtually need not be a hassle.

“In many ways, Lenovo Experiential Day 2022 highlights that Lenovo is no longer just a device-centric company,” said Nigel Lee, “but an end-to-end solutions provider that is helping customers embark on their journey to digital transformation 2.0 in an era filled with increasing challenges but also tremendous opportunities.”

Lenovo ThinkReality

In 2020, COVID-19 became a catalyst for extended reality (XR) technologies (both AR and VR) to help enterprises maintain business continuity and enable people to collaborate and work remotely more efficiently. This zone provided attendees a view of Lenovo’s ThinkReality A3 Smart Glasses. Conceived for today’s world, these augmented reality (AR) smart glasses, powered by Lenovo’s flexible enterprise XR software platform, have a vital role to play across industries. In manufacturing, for instance, Lenovo ThinkReality powered by holo|one software is giving Micron’s engineers the ability to keep production facilities running while helping the company meet growing demand for its products.

ThinkReality also lets business teams connect existing XR devices and add advanced new devices as they become available. The platform allows customers to develop and deploy apps and content remotely throughout the enterprise while managing devices and applications from a single interface.

Lenovo TGX Remote Workstation Software / Lenovo Self-Checkout Kiosk

This zone demonstrated the flexibility and ease by which organizations can deploy high performance computing to their remote teams no matter where they are, allowing anyone in an organization to access their powerful workstations anytime, anywhere, securely. For example, with Lenovo’s ThinkStation P520 and ThinkPad P1 , organizations can harness the power of NVIDIA Quadro and TGX Remote Workstation software to decode and encode large databases and process graphically intense applications to bring greater responsiveness and performance to users for the best experience.

This zone also featured Lenovo’s Self-Checkout kiosks, retail solutions that seamlessly integrates offline and online channels to connect an organization’s front and back office for optimal efficiency.

Lenovo Future of Work

This zone featured Lenovo’s Device-as-a-Service (DaaS) to help businesses arrive at more sustainable IT solutions, reflecting Lenovo’s goal of cutting the brand’s emissions in half by 2030. DaaS reduces the total cost of ownership for employee technology by carefully assessing an organization’s transformation initiatives and providing the right devices to the right users. It also offers organizations greater flexibility by giving them the option to incorporate hardware from other technology vendors to meet specific business needs. Ultimately, the lease-like model ensures organizations are keeping abreast with technology updates to provide the best experience to the workforce, while minimizing impact to the environment.

The showcase demonstrated how Lenovo Asset Recovery Services (ARS) and CO2 Offset Services mitigate security and environmental risks associated with new device procurement and end-of-life asset disposal. These services ensure organizations are procuring, managing, and disposing their technology hardware in a responsible and sustainable manner, while making sure that the entire process is legally compliant, secure, and consistently applied globally.

About Lenovo

Lenovo (HKSE: 992) (ADR: LNVGY) is a US$60 billion revenue Fortune Global 500 company serving customers in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that power (through devices and infrastructure) and empower (through solutions, services and software) millions of customers every day and together create a more inclusive, trustworthy and sustainable digital society for everyone, everywhere. To find out more visit and read about the latest news via our .

#Lenovo

Vietjet and HDBank partner to make air travel more convenient, cashless and rewarding with the HDBank Vietjet Platinum co-branded card

HO CHI MINH CITY, VIETNAM – Media OutReach – 12 May 2022 – HDBank and Vietjet have collaborated to launch Vietnam’s foremost budget airline co-branded Platinum card with an aim to make flying and shopping more convenient, cashless and rewarding.

The internationally valid credit card is power-packed with benefits that include 5 per cent cashback on Vietjet tickets, 0.3 per cent cashback on all other retail transactions and global travel insurance up to 11 billion VNĐ including delayed luggage and international medical assistance.

The card also comes with a special best in market interest rate, with no first-year fee and with two supplementary cards for family members free for life.

Besides travel benefits, the card also offers discounts on 5-star resorts/hotels, golf, dining, shopping and entertainment.

Moreover, this co-branded card provides cardholders priority check-in privilege at Vietjet counters.

The card has been launched with a unique promotion providing 20 per cent cashback on the first Vietjet online ticket purchase.

All of these benefits are easy to get through a special 100 per cent digital onboarding process.

Pham Quoc Thanh, CEO of HDBank, said: “The HDBank Vietjet Platinum Credit Card has been specially created with market-leading benefits to target the rapidly growing segment in the country that travels frequently for business and pleasure with a unique bundle of benefits that provides cashless convenience, rewards and unmatched value.”

Nguyen Thanh Son, Vietjet’s Vice President, said: “As air travel regains momentum post-pandemic, the distinct benefits of this co-branded credit card will provide our valued Vietjet flyers with cherished experiences and outstanding value.”

#HDBank

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

AXA becomes the first insurer in Hong Kong to offer green premium rebate

Motivating Employee Benefits customers to fully utilise eClaim services

HONG KONG SAR – Media OutReach – 12 May 2022 – AXA Hong Kong (“AXA”) announces the launch of its first-in-market “Green Premium Rebate” programme[1] – selected AXA Employee Benefits business clients can now enjoy 1% of premium rebate by fully utilising the eClaim services[2]. Through the premium rebate programme, AXA aims to protect the environment by joining hands with customers to reduce paper consumption via digitalisation.

Emily Li, Chief Employee Benefits and Wellness Officer, said, “AXA has been at the forefront of the fight against climate change for years. As one of the largest Employee Benefits insurers in Hong Kong, over 200 million pieces of paper are involved in our employee benefits outpatient claims every year. Through this premium rebate programme, we hope to motivate our customers to better utilise the eClaim services on the Emma by AXA app. Not only are the services environment-friendly, but they are also convenient, accessible anytime, anywhere, and there is no maximum claim amount limit[3]. We hope to join hands with corporates and their employees to support environmental protection, and create shared value for the community together. This brings to life AXA’s Purpose – Act for human progress by protecting what matters.”

As a global insurance leader, AXA is committed to being a catalyst in building a greener future through various sustainable actions and achieving the global “Net Zero” goal with our customers. In recent years, AXA has been actively encouraging the use of eStatement/eAdvice and e-medical cards to save trees and offers customers a more convenient way to manage their policies.


[1] Valid till 31 December 2022.
[2] Eligible for selected Employee Benefits policies purchased or renewed between 1 May 2022 to 31 December 2022.
[3] Applied to Hong Kong customers only. Macau customers can submit outpatient claim requests via Emma by AXA of up to MOP3,800.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 50 markets and serving 95 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.

At the core of our service commitment is continuous product innovation and customer experience enrichment, which is achieved through actively listening to our customers and leveraging technology and digital transformation.

We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the importance of mental health through different products and services such as offering free mindfulness practice resources through Mind Charger which is fully accessible to our customers and the public via our holistic wellness platform AXA BetterMe.

AXA also takes part in a wide range of ESG initiatives and programmes both globally and locally. AXA Group established AXA Climate School and Net-Zero Insurance Alliance in 2021 and set out various global green targets such as reaching €26 billion in green investments by 2023 and achieving carbon neutrality by 2025. In Hong Kong, AXA pledges to reduce paper usage via digitisation and is the first insurer to join the ‘Green Monday ESG Coalition’. As of Feb 2022, AXA Hong Kong’s green investments have exceeded HKD4 billion. We strive to contribute to a sustainable future as an investor, insurer and an exemplary company.

THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE:

#AXA

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.

IFC and HDBank have strategic cooperation, supporting to scale up finance for small and medium enterprises and participation in the global supply chains, including high-tech agricultural chain

HO CHI MINH CITY, VIETNAM – Media OutReach – 12 May 2022 – On May 11, IFC and Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) have signed a Memorandum of Understanding (MoU) to become strategic partners, supporting small and medium enterprises (SMEs) to scale up finance and participate in the global supply chains, including financing the high-tech agricultural chain.

Stephanie von Friedeburg – IFC’s Senior Executive Vice President (second from left) and Tran Hoai Nam – HDBank’s Deputy General Director (first from right) hand over the signing document under the witness of Viet Nam’s Prime Minister Pham Minh Chinh (second from right).

The event took place on the occasion of the visit to the United States of America of the Prime Minister of the Socialist Republic of Vietnam Pham Minh Chinh, who leading the Vietnamese delegation to attend the US – ASEAN Special Summit in Washington D.C (USA).

This cooperation is expected to help HDBank build its supply chain finance (SCF) portfolio of USD1 billion in the next 3 years; Accordingly growing its SCF portfolio – currently active in construction materials, agribusinesses sector, FMCG as well as supporting industries and downstream petroleum distribution.

IFC will assist HDBank to design an SCF strategy for agricultural sector, broaden its SCF products – especially supplier and distributor financing – and bring on board anchor firms along with their suppliers and distributors, among others.

“SCF that links buyers, suppliers, and financial institutions will efficiently support the trade cycles. IFC’s timely support will enable local businesses to leverage emerging trade opportunities and improve their linkages to formal supply chains, contributing to Vietnam’s economic growth,” said Mr. Pham Quoc Thanh, HDBank’s CEO.

“Small and medium enterprises are the backbone of the economy and being essential to Vietnam’s goal of becoming a manufacturing hub in the region”, said Stephanie von Friedeburg, Senior Vice President, Operations at IFC. “IFC’s supports to domestic financial institutions as HDBank will contribute to increase SMEs’ linkages with the global supply chains and open up the opportunities for development and job creation.”

Previously, on April 14, 2022, IFC granted HDBank a trade finance limit of USD 40 million within the framework of the Global Trade Finance Program (GTFP) to enhance payment risk guarantee capacity in trade finance for domestic enterprises, mainly SMEs.

In 2021, IFC provided a long-term loan of USD70 million to HDBank to support renewable energy business. IFC also subscribed USD95 million to international convertible bond issued by HDBank to support increased lending to micro, small and medium enterprises. Currently, the total value of commitments and cooperation between IFC and HDBank has reached more than USD200 million and continuously increasing and developing in the coming time.

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