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CPA Australia: Vietnamese small businesses lead in technology investment

HANOI, VIETNAM – Media OutReach – 13 April 2022 – Vietnamese small businesses retained their crown as the most likely in the Asia-Pacific to invest in technology in 2021, according to a new survey by one of the world’s largest professional accounting bodies, CPA Australia.

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This focus on technology was partially in response to the pandemic, with Vietnam’s small businesses being the most likely to increase their emphasise on online sales and up their investment in technology in reaction to COVID-19. This change saw the percentage that earned more than 10 per cent of their revenue online jump from 60 per cent in 2020 to 73 per cent in 2021.

Despite a challenging 2021, Vietnam’s small businesses expect to strongly rebound this year. Seven in ten expect to grow this year, the third highest result in the Asia-Pacific. Strong investment in technology and government support are likely to be key drivers of this turnaround.

CPA Australia’s 13th Asia-Pacific Small Business Survey surveyed 4,252 small business owners or managers, including 309 from Vietnam, across 11 Asia-Pacific markets to understand their business conditions and confidence.

Of the markets surveyed, Vietnam was most adversely impacted by the pandemic, with 78 per cent of small businesses nominating it as their biggest barrier to growth last year. In response, many local small businesses invested in improving their business, with 44 per cent increasing their investment in technology and 42 per cent shifting to online sales. Both results were the highest of the markets surveyed.

Their efforts have translated into positive outcomes. Eighty-two per cent of respondents said their investment in technology last year improved their profitability. This is the highest result for the Asia Pacific; maintaining Vietnam’s leading position held since 2019.

This high level of investment in technology and online sales augers well for the future of Vietnam’s small business sector, as the survey results show the more a small business is digitalised, the more likely they are to grow.

Dr. Can Van Luc, FCPA (Aust.) – Chief Economist of BIDV & President of BIDV Research and Training Institute, Chair of North Vietnam Advisory Committee – CPA Australia said, “While 2021 was a difficult year, 45 per cent of Vietnamese small businesses still managed to grow. Under the government’s dual goals of ‘preventing the pandemic and promoting socio-economic recovery’, inflow of foreign direct investment has grown steadily over the past year (up by 9.2 per cent in 2021). Recovering domestic and overseas demand, together with government policy support, have bolstered small businesses operations and accelerated their digital transformation.”

The high levels of investment in technology has resulted in enhanced awareness of cybersecurity. Leaping from last to first place in this survey, 60 per cent of Vietnam’s small businesses stated they reviewed their cybersecurity protections in the past six months, nearly double the 32 per cent recorded in 2020. Further, 42 per cent sought professional advice from IT consultants or specialist in the past 12 months.

“Threats of cyberattacks are on the rise as small businesses digitalise. Sixty-four per cent of respondents are concerned that their business could be cyberattacked in 2022. Given that our country has increased the pace of the development of its digital economy, small businesses should keep investing in capabilities to safeguard themselves against increasing malicious cyberattacks. Measures such as enhancing cybersecurity and consulting IT consultants are crucial to protecting vital assets and customer data.

“The government’s VND 347 trillion stimulus package should support small business recovery. Given that more than nine in ten respondents expect they will or may seek external funds in 2022, the loan interest rate subsidy of two per cent per annum for two years should help to relieve their financing burden and address concerns over rising costs, thus further boosting the country’s recovery”, Dr. Luc stated.

Vietnam’s small businesses were also the most likely in the Asia-Pacific to spend time and resources on staff health and safety in the past 12 months.

Dr. Luc said, “Investing in employee health and safety reflects increasing efforts of Vietnamese small businesses to focus on Environment, Social and Governance. Creating a safe and caring workplace for employees will not only help attract and retain staff, but also drive sustainable growth.”

CPA Australia recommends that Vietnamese small businesses consider the following actions:

  • Review cybersecurity measures regularly and continue to invest in enhancing cybersecurity protections
  • Seek professional advice to help review business’ finances, manage costs such as material and borrowing costs, and prioritise resources
  • Continue to look for ways to innovate and improve business productivity.

Read CPA Australia’s Asia-Pacific Small Business Survey 2021-22

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 170,000 members in over 100 countries and regions, including more than 21,000 members in South-East Asia. Our Vietnam offices, located in Hanoi and Ho Chi Minh City, opened in 2008. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at

#CPAAustralia

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

3M announces school zone transformations to increase pedestrian visibility and road safety

  • 3M commits to serve as a global model to help children worldwide get to school safely
  • 3M to work with local NGOs and government agencies to increase safety and visibility in 100 school zones in 23 countries, including Malaysia and ten other countries in Asia, by 2024
  • GT Lim, Country Leader for 3M Malaysia highlights the need to protect children in a post-pandemic world, adding that the company has been collaborating with Malaysian Institute of Road Safety Research to safeguard Malaysian school children

PETALING JAYA, MALAYSIA – Media OutReach – 13 April 2022 – Road traffic accidents are the leading cause of death for children five years and older worldwide, according to data from the Centers for Disease Control and Prevention. To help protect the lives of our most vulnerable pedestrians – children – 3M announced its commitment to increase safety and visibility in 100 school zones in 23 countries, including Malaysia and ten other countries in Asia, around the world by 2024.

Underdeveloped roadways, a lack of crosswalks and poor visibility in school zones put our youngest pedestrians at particular risk when walking and biking to and from school. The rate at which these incidents happen drastically increases within low-income countries and communities indicating a clear need for change, according to the World Health Organization. 3M recognises the urgency in addressing these dangers and the need for safer school zones.

“3M’s commitment to improve school zone safety centres on the belief that every child deserves a chance at an education and getting to school safely shouldn’t be a barrier,” says Dr. Dan Chen, president, 3M Transportation Safety Division. “Over the next two years, we will work with NGOs and government agencies to improve safety in school zones and develop a scalable model for high-risk and under-resourced communities to create safer roads for all children.”

As part of its ongoing commitment to road and transportation safety, 3M commissioned third-party independent research in 11 countries back in 2021 to identify the top concerns of adults relative to getting to and from home safely, as well as their views on the current state of transportation safety in their communities.

In APAC, as many as 46% of those surveyed reported having a family member or close friend who has died or been seriously injured in a traffic accident, significantly higher than the 33% globally. Ranking high among community transportation safety concerns, 84% of parents (vs 75% globally) are concerned about getting their children to and from school safely.

In Malaysia alone, over half a million traffic accidents were recorded from March 2020 to October 2021, of which 5,412 cases were fatal with 5,739 deaths.

With that, GT Lim, Country Leader of 3M Malaysia highlighted 3M Malaysia’s support for the initiative, adding that it’s a timely move to protect the leaders of tomorrow. “As children around the world return to school after some time spent learning online due to the pandemic, it’s our duty to protect them best as we can. To this end, 3M Malaysia has been collaborating with Malaysian Institute of Road Safety Research to further drive this important message and protect our school children.”

The first set of school zone transformations to happen this year in the U.S. will kick off during National Distracted Drivers Awareness Month in April. 3M will be working in the city of Nashville, Tenn., bringing together community leaders, teachers and students to raise awareness of the dangers of distracted motorist behaviour in school zones.

3M is working with Collier Engineering and Design and Civic Design Center to remodel school zone roadways at Robert Churchwell Museum Magnet Elementary School and Madison Campus Elementary School in Nashville. These transformations will include the installation of reflective signs, visible street markings and pedestrian crosswalks.

Community collaboration

For more than eight decades, 3M’s Transportation Safety Division has had the mission to advance transportation infrastructure and mobility globally. The installation of high-performance road materials and technologies, like Diamond Grade Reflective Sheeting for school zone signage and Pavement Marking Tape to help improve reflectivity and visibility for motorists and pedestrians, have helped families return home safely.

And while technology and innovation are necessary steps to create safer road conditions, 3M continues to collaborate and work with communities, civic and government leaders, policymakers, NGOs and other organisations to help lead change and create safer roadway systems globally.

As a member of the UN Global Compact, 3M believes in the role public-private partnerships can play in solving pressing global issues, such as road and transportation safety. 3M is a signatory of the Call on President Biden to End Roadway Fatalities and a pledge of the United Nations General Assembly Decade of Action for Road Safety to prevent at least 50 percent of road traffic deaths and injuries by 2030.

To get involved and learn more about 3M’s School Zone Road Safety, visit 3M.com/schoolzonesafety.

About 3M

At 3M (NYSE: MMM), we apply science in collaborative ways to improve lives daily as our employees connect with customers all around the world. Learn more about 3M’s creative solutions to global challenges at or on Twitter or .

#3M

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

This Ramadan, traders can support charitable foundations together with OctaFX

OctaFX will raise funds for charitable activities during Ramadan together with its clients. Active trading is all that’s needed to contribute to the noble cause.

KUALA LUMPUR, MALAYSIA – Media OutReach – 13 April 2022 – International Forex broker OctaFX launches its annual Ramadan charity campaign aimed at supporting local communities by financing humanitarian activities in numerous regions of the world. The broker invites its clients to participate in a dedicated trading campaign where every 100 lots they trade between 4 and 29 April will increase the charity fund by 3 USD of its own funds.

Over a period of three Ramadan seasons, OctaFX helped realise several charitable projects through collaboration with humanitarian organisations in Indonesia, Malaysia, Nigeria, and Pakistan.

Partnering with the PERTIWI Foundation, each month, OctaFX distributes essentials and child care products to 80 families with children in Malaysia. This project commenced last year during Ramadan when OctaFX and PERTIWI carried out the first distribution in Petaling Jaya, Selangor Darul Ehsan.

In an effort to support education and literacy incentives in Nigeria, OctaFX partnered with the KIR foundation and set up eight reading corners with 1,200 books in Abuja, Ibadan, Lagos, and Port Harcourt.

OctaFX’s collaboration with the JDC Foundation resulted in providing IT coaching centres with teaching aid equipment in Pakistan. The broker also financed machinery for free dialysis centres across the country as part of the project.

This year, with the special Ramadan trading campaign, OctaFX’s clients can support socially significant projects supporting education, medicine, and local communities in some of the most vulnerable regions of the world.

About OctaFX

is a global broker providing online trading services worldwide since 2011. It offers everything one needs to reach their investment goals, providing top-notch conditions utilised already by 7.5 million clients globally.

The company is involved in a comprehensive network of charity and humanitarian initiatives, including improvement of educational infrastructure, short-notice relief projects, supporting local communities and small to medium enterprises.

#OctaFX

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

Videomaking Solutions Company VideoMonster Closes $2.5 million Series A Funding

The company will accelerate its process of adopting AI technology & introduce a long-form video editing solution

SEOUL, SOUTH KOREA – Media OutReach – 13 April 2022 – VideoMonster Inc., the ultra-simple online short-form videomaking solutions provider, recently closed a Series A round investment worth 3 billion KRW (approx. USD 2.5M). VCs that participated in this round include Innopolis Partners, Smart Study Ventures, ETRI Holdings, and Union Partners, featuring tech-based and content investors evenly.

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With the recent investment, VideoMonster Inc. plans to accelerate the adoption of AI technology in advancing its services, including the launch of the long-form video editing solution. Also, the startup celebrates its first anniversary in the Southeast Asia region with a special discount deal for subscribers.

Chun Donghyuk, CEO of VideoMonster, said in an interview that, “Having successfully closed the Series A round, we have gained the momentum to introduce AI technology for the entire solution. With this, we plan to innovate the entire video editing process and focus on the advancement of service for our target users in the global market.”

Global company with a ‘localization’ strategy

Established in 2019, VideoMonster provides 4,900+ quality motion-graphics video templates and 400 loyalty-free music tunes for creators. It allows anyone to create captivating 30-second videos within 3 minutes. As of February 2022, it is Korea’s go-to videomaking platform optimized for short-form marketing videos, with over 500,000 members and 200,000 paid video sales (cumulative).

VideoMonster’s global expansion is also worth noticing. Currently present in more than five other countries, it continues pursuing strategic localization, starting with local language services, including English, Thai, Vietnamese, and Indonesian.

The company has successfully leaped forward as a global service by achieving 150,000 monthly average users (MAUs) within six months of expanding overseas. VideoMonster strives to expand its customer base by introducing customized SI for various platforms and entering new markets, including Singapore and North America.

Long-form video editing solution in 2022

Now, VideoMonster is eyeing the long-form videomaking market. Its latest development is an automated Vlog app, “ViiV,” a solution that applies AI technology to video editing methods. This all-in-one app automatically edits and completes VLOG images once the user film, targeting Generation Z’s demand for simple yet quality video making.

VideoMonster estimates a post-COVID19 boom in the tourism-related industry and plans to partner with relevant corporations and institutions once it acquires a threshold number of users. ViiV is set to be launched in the global market in the second half of 2022 with the aim of growing as a global platform that provides video content and travel information together.

Special Code for subscription discount

Meanwhile, VideoMonster offers a special deal ahead of its first anniversary in Southeast Asia. Anyone can get up to 3 months of FREE extension on the subscription plan by putting code “EVENTSEA2022” when checking out. Or, new users can sign-up through this link and automatically receive the special deal coupon.

Link – https://videomonster.page.link/7xhZ

#VideoMonster

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

OxProp Capital Launches New Property Financing Offerings

SINGAPORE – Media OutReach – 13 April 2022 – Financing startup OxProp Capital has announced that it will be launching its new property financing offerings, in its push to solve SMEs’ working capital needs and to deliver technology-driven credit solutions to underserved Singaporeans.

In today’s credit landscape, many borrowers are turned away by traditional providers for failing to meet borrowing criteria due to poor credit history or outstanding loans. With the belief that individuals and businesses should enjoy equal and fair access to quality loans, OxProp Capital aims to advance financial inclusion and help its customers embark on a better financial future. To achieve that, it offers up to 80% Loan-To-Value (LTV) for property loans, with fewer red tapes and more relaxed eligibility criteria. Furthermore, it also offers fixed-rate loans to protect its customers from a sudden increment in monthly mortgage payments.

OxProp Capital uses advanced analytics and proprietary technology to streamline the borrowing process and transform the way people access credit online. While traditional bank financing can take at least 30 days or even months to process a loan application, OxProp Capital can disburse funds as fast as a week after completing the paperwork. With its fast approval rates, individuals and businesses in need of home loans, loans for commercial property or funds for financing important milestones, emergencies, or business expansion can get access to funds quickly and seamlessly.

With a strong history of finance-related services and activities, OxProp Capital promises four things: transparent and straightforward rates with no hidden fees, borrowing options tailored to your specific needs, fast approval and disbursement of funds, and a high LTV to get the most out of your equity. As a trusted provider of property financing loans in Singapore, OxProp Capital hopes to extend its services to help individuals and businesses reach financial independence by overcoming complicated obstacles in their property loan application process.

For more info, please visit https://oxpropcapital.com/.

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

Laos Environment Ministry Warns of Dangerous Air Pollution

Air pollution descends upon Laos each year during the dry season when slash and burn agriculture is conducted.
Air pollution descends upon Laos each year during the dry season when slash and burn agriculture is conducted.

The Ministry of Natural Resources and Environment has issued a notice warning residents about unhealthy levels of air pollution across the nation.

Hong Kong remains the most costly market in Greater China for the third consecutive year Permanent Hybrid Planning, Experience-Focused Design and Environmental, Social and Governance are Three Key Fit-Out Trends in 2022

  • Six Greater China markets figure in top 20 most expensive office fit-out markets in Asia-Pacific
  • Permanent Hybrid Planning where costs are still being closely scrutinized

HONG KONG SAR – Media OutReach – 12 April 2022 – The COVID-19 pandemic over the last two years has greatly impacted the workplace. As markets continue to tackle the ongoing impacts and the rise of the Omicron variant, corporate occupiers are increasingly adopting more flexible working practices.

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“We have seen a shift in how corporates are envisioning their space requirements, which in turn impacts fit-out decision-making, all within an environment where costs are still being closely scrutinized. Besides the application of thoughtful design and fit-out standards, there is the need for corporate occupiers to provide employees with seamlessly integrated technology solutions for both onsite and offsite working. There is also a greater emphasis on providing a workplace that is not only environmentally friendly but also has the employees’ well-being at heart.” said Tom Gibson, Head of Project & Development Services, Asia Pacific.

According to Cushman & Wakefield’s 2022 Asia Pacific Office Fit-out Cost Guide, the three key office fit-out trends for 2022 are:

1. Planning for permanent hybrid
With Asia Pacific countries in varying stages of Return to Office, occupiers are incorporating an increasing spectrum of flexible working practices. Fit-out typologies are also changing, providing more collaborative spaces as well as space for focused work. There is growing interest in understanding how to engineer an ideal hybrid ecosystem — how much space is needed, what this space should look like, and how much it will cost to fit it out, as well to meet the ever-growing design demands of the flexible workforce.

2. Designing for experience
Insights from Cushman & Wakefield’s bespoke workplace strategy tool, Experience per Square FootTM (XSF), have shown that employees across all markets desire greater workplace flexibility, though to varying degrees. Employers are investigating how to embrace greater flexibility while also maintaining corporate culture and equity of employee experience and are increasingly preferring quality over quantity of space. High quality buildings that provide the highest quality health and wellbeing credentials are mandatory, as is the need for seamlessly integrated technology solutions for both onsite and offsite working. The application of thoughtful design and fit-out standards is crucial in order to reflect the role and purpose of the office, which is all about experience, engagement, collaboration, culture, and wellbeing.

3. Incorporating ESG

We are seeing occupiers and investors placing greater emphasis on Environmental, Social, and Governance (ESG) considerations across all aspects of their real estate footprint as they address challenges related to the war for talent, corporate ESG commitments, and the rise of green capital. Occupiers are increasingly seeking green and wellness certifications for their projects and are engaging consultants early in the design process. Project managers play a pivotal role here by exposing clients to the latest workplace design strategies and assisting the integration of ESG principles into their workplace.

“The 2022 report reveals that six Greater China markets figure in the top 20 most expensive office fit-out markets in Asia-Pacific. Hong Kong remains the most costly market in Greater China for the third consecutive year, followed by Shenzhen, Beijing, Guangzhou, Shanghai and Taipei. Across mainland China, occupiers are increasingly seeking green and wellness certifications for their projects and are engaging consultants early in the early project stage to provide inputs in project programming, budget setting, and design specs.” commented David Shi, Head of Project & Development Services, China, Cushman & Wakefield.

“Hong Kong occupiers traditionally prefers basic hybrid mode, while there is an increasing trend and greater need for more collaborative hybrid such as incorporating workspace into the break-out area and pantry space. With the COVID-19 pandemic persisting, IT and AV provisions (such as video conferencing) are in greater demand for enhanced remote communications. On the other hand, corporate relocation is still prevalent, despite many occupiers remaining cautious due to the capital expenditure requirements, as the city’s fit-out cost ranking no.5 among APAC cities. In turn, landlords are adopting new measures to incentivize and facilitate occupier movements. Looking ahead, corporate requirements and employees’ preference for greener practices will likely further push for greater ESG adoption, such as green building certifications and incorporating sustainability elements into their offices.” added Bryant Cheung, Head of Project & Development Services, Hong Kong, Cushman & Wakefield.

Cushman & Wakefield’s report revealed the average office fit-out costs for 31 cities in Asia Pacific. The top 20 cities in Asia Pacific with the highest office fit-out costs are:

ASIA PACIFIC RANKING CITY AVERAGE COST (USD PSF)
1 Tokyo 166
2 Osaka 161
3 Nagoya 157
4 Auckland 139
5 Hong Kong 138
6 Sydney 135
7 Singapore 134
8 Melbourne 132
9 Brisbane 129
10= Adelaide 124
10= Perth 124
12 Seoul 121
13 Shenzhen 119
14 Beijing 117
15 Busan 116
16 Guangzhou 115
17 Shanghai 114
18 Taipei 92
19 Manila 87
20 Bangkok 85

Source: Cushman & Wakefield

Click here to download the 2022 Asia Pacific Office Fit-out Cost Guide.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms in the world, with approximately 50,000 employees in over 400 offices and 60 countries. In Greater China, a network of 22 offices serves local markets across the region, earning recognition and winning multiple awards for industry-leading performance. In 2021, the firm had revenue of $9.4 billion across core services including valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. To learn more, visit or follow on Twitter.

#Cushman&Wakefield

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

Vientiane Traffic Police Out in Force During Lao New Year 

Police checks a motorist on the road

Traffic Police officers in Vientiane Capital will increase their presence in and around the city over the Pi Mai Lao period.