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Allianz: Shipping losses fall, but Ukraine war, costly issues with large vessels, the shipping boom, and sustainability concerns muddy the waters

  • Safety & Shipping Review 2022: 54 large ships lost worldwide last year. Total losses down 57% over past decade. South China, Indochina, Indonesia, and the Philippines top loss location.
  • Ukraine invasion has multiple impacts: loss of life/vessels, exacerbation of crew crisis, trade disruption, sanctions burden, and cost and availability of bunker fuel.
  • Fires, container ship and car carrier incidents leading to oversized losses and ‘general average’ process becoming more frequent. Sustainability concerns driving up costs of salvage and wreck removal. Decarbonization of shipping industry creating new risks.
  • Shipping boom safety impact: growing use of non-container vessels to carry containers, working life of vessels being extended, port congestion putting crews and facilities under pressure.

JOHANNESBURG/LONDON/MUNICH/NEW YORK/PARIS/SAO PAULO/SINGAPORE – Media OutReach – 10 May 2022 – The international shipping industry is responsible for the carriage of around 90% of world trade, so vessel safety is critical. The sector continued its long-term positive safety trend over the past year but Russia’s invasion of Ukraine, the growing number of costly issues involving larger vessels, crew and port congestion challenges resulting from the shipping boom, and managing challenging decarbonization targets, means there is no room for complacency, according to marine insurer Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2022.

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“The shipping sector has demonstrated tremendous resilience through stormy seas in recent years, as evidenced by the boom we see in several parts of the industry today,” says Captain Rahul Khanna, Global Head of Marine Risk Consulting at AGCS. “Total losses are at record lows – around 50 to 75 a year over the last four years compared with 200+ annually in the 1990s. However, the tragic situation in Ukraine has caused widespread disruption in the Black Sea and elsewhere, exacerbating ongoing supply chain, port congestion, and crew crisis issues caused by the Covid-19 pandemic. At the same time, some of the industry’s responses to the shipping boom, such as changing the use of, or extending the working life of, vessels also raise warning flags. Meanwhile, the increasing number of problems posed by large vessels, such as fires, groundings and complex salvage operations, continue to challenge ship owners and their crews.”

The annual AGCS study analyzes reported shipping losses and casualties (incidents) over 100 gross tons. During 2021, 54 total losses of vessels were reported globally, compared with 65 a year earlier. This represents a 57% decline over 10 years (127 in 2012), while during the early 1990s the global fleet was losing 200+ vessels a year. The 2021 loss total is made more impressive by the fact that there are an estimated 130,000 ships in the global fleet today, compared with some 80,000 30 years ago. Such progress reflects the increased focus on safety measures over time through training and safety programs, improved ship design, technology and regulation.

According to the report, there have been almost 900 total losses over the past decade (892). The South China, Indochina, Indonesia, and the Philippines maritime region is the main global loss hotspot, accounting for one-in-five losses in 2021 (12) and one-in-four-losses over the past decade (225), driven by factors including high levels of trade, congested ports, older fleets, and extreme weather. Globally, cargo ships (27) account for half of vessels lost in the past year and 40% over the past decade. Foundered (sunk/submerged) was the main cause of total losses over the past year, accounting for 60% (32).

While total losses declined over the past year, the number of reported shipping casualties or incidents rose. The British Isles saw the highest number (668 out of 3,000). Machinery damage accounted for over one-in-three incidents globally (1,311), followed by collision (222) and fires (178), with the number of fires increasing by almost 10%.

One of the top five causes of reported ship incidents globally is maritime piracy and armed robbery attacks. Of which, the cases have reached the lowest recorded level since 1994 last year (132), according to the International Maritime Bureau.

The drop can be attributed to successful intervention by authorities but continued coordination and vigilance to is necessary to ensure the long-term protection of seafarers given recent rising numbers of incidents in the Singapore Straits and Southeast Asia and recent reports of incidents in Ivory Coast, Angola and Ghana waters.

Ukraine impact: safety and insurance

The shipping industry has been affected on multiple fronts by Russia’s invasion of Ukraine, with the loss of life and vessels in the Black Sea, disruption to trade, and the growing burden of sanctions. It also faces challenges to day-to-day operations, with knock-on effects for crew, the cost and availability of bunker fuel, and the potential for growing cyber risk.

The invasion has further ramifications for a global maritime industry already facing shortages. Russian seafarers account for just over 10% of the world’s 1.89 million workforce, while around 4% come from Ukraine. These seafarers may struggle to return home or rejoin ships at the end of contracts. Meanwhile, a prolonged conflict is likely to have deeper consequences, potentially reshaping global trade in energy and other commodities. An expanded ban on Russian oil could contribute to pushing up the cost of bunker fuel and impacting availability, potentially pushing ship owners to use alternative fuels. If such fuels are of substandard quality, this may result in machinery breakdown claims in future. At the same time, security agencies continue to warn of a heightened prospect of cyber risks for the shipping sector such as GPS jamming, Automatic Identification System (AIS) spoofing and electronic interference which had already been reported in China and the Middle East, prior to the Ukraine invasion.

“The insurance industry is likely to see a number of claims under specialist war policies from vessels damaged or lost to sea mines, rocket attacks and bombings in conflict zones,” explains Justus Heinrich, Global Product Leader, Marine Hull, at AGCS. “Insurers may also receive claims under marine war policies from vessels and cargo blocked or trapped in Ukrainian ports and coastal waters.”

The evolving range of sanctions against Russian interests presents a sizeable challenge. Violating sanctions can result in severe enforcement action, yet compliance can be a considerable burden. It can be difficult to establish the ultimate owner of a vessel, cargo or counterparty. Sanctions also apply to various parts of the transport supply chain, including banking and insurance, as well as maritime support services, which makes compliance even more complex.

A burning issue: fires on board

During the past year, fires on board the roll-on roll-off (ro-ro) car carrier Felicity Ace and the container ship X-Press Pearl both resulted in total losses. Cargo fires are indeed a priority concern. There have been over 70 reported fires on container ships alone in the past five years, the report notes. Fires often start in containers, which can be the result of non-/mis-declaration of hazardous cargo, such as chemicals and batteries – around 5% of containers shipped may consist of undeclared dangerous goods. Fires on large vessels can spread quickly and be difficult to control, often resulting in the crew abandoning ship, which can significantly increase the final cost of an incident.

Fires have also become a major loss driver for car carriers. Among other causes, they can start in cargo holds, caused by malfunctions or electrical short circuits in vehicles, while the open decks can allow them to spread quickly. The growing numbers of electric vehicles (EVs) transported by sea brings further challenges, given existing counter-measure systems may not respond effectively in the event of an EV blaze. Losses can be expensive, given the value of the car cargo and the cost of wreck removal and pollution mitigation.

When large vessels get into trouble, emergency response and finding a port of refuge can be challenging. Specialist salvage equipment, tugs, cranes, barges and port infrastructure are required, which adds time and cost to a response. The X-Press Pearl, which sank after it was refused refuge by two ports following a fire – the ports were unable or unwilling to discharge a leaking cargo of nitric acid – is one of several incidents where container ships have had difficulty finding a safe haven. Meanwhile, the salvage operation for the car carrier Golden Ray, which capsized in the US in 2019, took almost two years and cost in excess of $800mn.

“Too often, what should be a manageable incident on a large vessel can end in a total loss. Salvage is a growing concern. Environmental concerns are contributing to rising salvage and wreck removal costs as ship owners and insurers are expected to go the extra mile to protect the environment and local economies,” says Khanna. “Previously, a wreck might have been left in-situ if it posed no danger to navigation. Now, authorities want wrecks removed and the marine environment restored, irrespective of cost.”

Higher salvage costs, along with the burden of larger losses more generally, are a cost increasingly borne by cargo owners and their insurers. “‘General average’, the legal process by which cargo owners proportionately share losses and the cost of saving a maritime venture, has become a frequency event, as well as a severity event, with the increase in the number of large ships involved in fires, groundings and container losses at sea compared with five years ago,” explains Régis Broudin, Global Head of Marine Claims at AGCS. It was declared in both the Ever Forward and Ever Given incidents. The large container ship Ever Forward ran aground in the US in March 2022, and was stuck for over a month before it was freed, almost a year to the day after its sister vessel, Ever Given blocked the Suez Canal.

Post-pandemic world brings new risk challenges

While the Covid-19 pandemic resulted in few direct claims for the marine insurance sector, the subsequent impact on crew welfare and the boom in shipping and port congestion raises potential safety concerns. Demand for crew is high, yet many skilled and experienced seafarers are leaving the industry. A serious shortfall of officers is predicted within five years.

For those who remain, morale is low as commercial pressures, compliance duties and workloads are running high. Such a work situation is prone to mistakes – 75% of shipping incidents involve human error, AGCS analysis shows.

“During the pandemic hundreds of thousands of seafarers were unable to leave their vessels or see their families for a prolonged period. What they have endured will have a lasting impact, and it is likely many seafarers will not return. Ship owners in some segments could feel the pinch. We do not want to see dispensations or special considerations being given by flag states,” says Captain Nitin Chopra, Senior Marine Risk Consultant at AGCS Asia Pacific.

“The pressure on vessels and crew is currently very high. The reality is that some may be tempted to ignore issues or take shortcuts, which could result in future losses.” adds Captain Nitin Chopra.

The economic rebound from Covid-19 lockdowns has created a boom time for shipping, with record increases in charter and freight rates. While this is a positive for shipping companies, higher freight rates and a shortage of container ship capacity are tempting some operators to use bulk carriers, or consider converting tankers, to transport containers. “The use of non-container vessels to carry containers raises questions around stability, firefighting capabilities, and securing cargo. Carrying containers could also change the maneuvering characteristics of a vessel and affect how it behaves in bad weather and strong winds. Converting a vessel or changing its use would likely be viewed as a material change in risk profile and could be categorized by underwriters as a higher risk,’ adds Captain Nitin Chopra.

With demand for shipping high, some owners are also extending the working life of vessels. Even before the pandemic, the average age of vessels was rising. Although there are many well-managed and maintained fleets composed of older vessels, analysis has shown older container and cargo vessels (15 to 25 years old) are more likely to result in claims, as they suffer from corrosion, while systems and machinery are more prone to breakdown. The average age of a vessel involved in a total loss over the past 10 years is 28.

Shipping bottlenecks and port congestion

Covid-19 measures in China, a surge in consumer demand, and the Ukraine invasion have all been factors in ongoing unprecedented port congestion which puts crews, port handlers and facilities under additional pressure. “Loading and unloading vessels is a particularly risky operation, where small mistakes can have big consequences. Busy container ports have little space, while the experienced labor required to handle the containers properly is in short supply. Add in fast turnaround times and this may result in a heightened risk environment,” explains Heinrich.

At the same time, repeated outbreaks in China, resulting in the staggered lockdown of Shanghai in March/April 2022 for example, is compounding ongoing supply/ demand pressures for shipping, which have resulted in port congestion, higher freight fees and longer transit times.

Climate change: transition problems

With momentum gathering behind international efforts to tackle climate change, the shipping industry is coming under increasing pressure to accelerate its sustainability efforts, the report notes, given its greenhouse gas emissions grew by around 10% between 2012 and 2018.

Decarbonization will require big investments in green technology and alternative fuels. A growing number of vessels are already switching to liquefied natural gas (LNG), while other alternative fuels are under development, including ammonia, hydrogen and methanol, as well as electric-powered ships. The transition to alternative fuels will likely bring heightened risk of machinery breakdown claims, among other risks, as new technology beds down and as crews adapt to new procedures.

About Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across nine dedicated lines of business and six regional hubs.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also satellite operators or Hollywood film productions. They all look to AGCS for smart solutions and global programs to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

Worldwide, AGCS operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,250 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2021, AGCS generated a total of €9.5 billion gross premium globally.

For more information please visit or follow us on Twitter @AGCS_Insurance and .

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.

Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events, (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.

#Allianz #AGCS

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

Laos Fuel Crisis Nears Breaking Point as Vientiane Capital Runs Dry

Fuel crisis in Vientiane Capital as importers unable to purchase supplies.
A fuel crisis has hit Vientiane Capital as importers unable to purchase supplies.

Motorists in the nation’s capital queued for hours yesterday in the hope of filling up their tanks before pumps ran dry.

Nam Ngum 4 Hydropower Project 90% Complete

Nam ngum 4 Hydropower in Xieng Khouang.

The Nam Ngum 4 Hydropower Project in Xieng Khouang province is now 90% complete, valued at over USD 760 million. 

Modern Parenting – Meaningful and Educational Conversation with Children Help Shapes Character and Drive Innovative Thoughtfulness for Future STEM Leaders

KUALA LUMPUR, MALAYSIA – Media OutReach – 9 May 2022 – Mothers are known as superheroes without capes. It takes a lot of patience, care and strength, and many Malaysian moms balance all the parenting responsibilities while maintaining a stellar career.

For 3M Malaysia’s Gursharan Kaur, Noor Intan Farah Alwee, and Leong Ai Wah, they’ve learned that motherhood is all about finding the right balance, which is particularly essential during the height of the COVID-19 pandemic. Online schooling, home-cooked meals, and household chores have blended into an ongoing routine that is now second nature while performing consistently in their respective careers.

Prioritisation and Curation Maintains the Balance

All these three moms stress the importance of curating their personal lives. Making time for themselves, whether it is for something as simple as a morning jog or treating themselves to a day of shopping, maintaining this balance is an essential cog in the wheel that enables them to be well-functioning, good people, mothers, and colleagues.

Gursharan Kaur, lead for the sales and training development for 3M Safety and Industrial Group Asia (SIBG Asia), is a mother to two amazing daughters (aged 21 – 24), and she shares that balancing her career and being a mom was never a breeze and more of a learning curve. “Celebrating small milestones keeps my daughters going,” Gursharan said, “And finding balance in celebrating those little moments with my children gives her a sense of achievement and empowerment that makes her the best at what she does.”

“Working moms are like jugglers,” Farah added. She is the Sales Account Executive for Transportation Safety Division in 3M Malaysia and, more importantly, mama to two teenage boys. “It’s important to balance your personal life and career because you can pour to your loved ones and your career only when your cup is full.” Farah loves watching science fiction movies with her boys in their free time.

Ai Wah is 3M Malaysia’s Marketing Operation and Make-to-Order Lead; she starts her day as early as 5:30 am on weekdays to prepare her two young boys for school and slots in a morning run before she is off to work. “Mindset is crucial in being a working mom,” Ai Wah shared. “Flexibility and adaptability have been the cornerstone of my balancing act with motherhood and career.”

All three moms further shared that their careers at 3M Malaysia and the open environment filled with learning opportunities have shaped their views and helped them engage in more meaningful and educational conversations with their children.

“Before I joined the Sales department, my background was actually in Civil Engineering. Why I switched is a story for another day, but my interest in innovation and technologies continues,” Farah continued. “I enjoy sharing the intricate, science-backed innovations 3M Malaysia produces with my boys.”

Encouraging Outside the Box Thought Process

Gursharan believes that as adults, rewards are less superior than recognition, particularly from authority figures – something she practises within her team at 3M Malaysia and her daughters. “Everyone loves to be appreciated, and I give my girls the praise or feedback they deserve and always encourage them to think outside of the box to empower their decision-making skills.”

Ai Wah always engages in open conversations with her little boys, a practice that can sometimes lead to dinnertime lasting 2 hours with constant discussion! “My husband and I encourage them always to ask questions and create constructive discussions – we even let them know that the parent is not always right, and they can challenge us if the facts are on their side. This is something I encourage even amongst my team at work, not just during our daily operations but on my leadership, too.”

Balancing the Passion Between Motherhood and Career

Asked about the one tip they had for working moms like themselves, Gursharan said finding your parenting style is essential. “Like any other skill in life, parenting requires lots of practice. Enjoy the journey and remember to stop and smell the flowers along the way.”

To Farah, patience and passion go together. “You need both to be the best at what you do. Taking on challenges is possible because I have passion and drive motivating me to strive for it.”

Ai Wah says that it is crucial to have some alone time despite all the chaos of life. “It is important to take care of your mental health and find some quality time for yourself. The popular saying is, ‘happy wife, happy life – I would also like to say, ‘happy mom, happy kids”.

Gursharan, Farah and Ai Wah –are just some of the capeless heroes at 3M, and we would also like to take this opportunity to all the working moms all over the world. You indeed are our superheroes, and all mothers should be celebrated all year round for their tenacity.

Happy Mother’s Day from 3M Malaysia!

#3M

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

Spackman Media Group Artist Son Suk-Ku’s K-Drama, MY LIBERATION NOTES, Breaks Its Own Highest Audience Rating

  • K-drama, MY LIBERATION NOTES starring Spackman Media Group artist Son Suk-ku, exceeded its own highest audience rating since its premiere last month
  • Represented by SBD Entertainment, a wholly-owned subsidiary of Spackman Media Group, Son Suk-ku was ranked number one in actor popularity for MY LIBERATION NOTES, according to Good Data TV Popularity Research in Korea
  • Son Suk-ku stars along with Ma Dong-seok (Don Lee) in upcoming film THE ROUNDUP, a sequel film to the 2017 box office hit THE OUTLAWS, which is expected to be released on May 18

SINGAPORE – Media OutReach – 9 May 2022 Spackman Entertainment Group Limited (the “Group“), one of Korea’s leading entertainment production groups founded in 2011 by media & technology investor Charles Spackman, wishes to announce that K-drama MY LIBERATION NOTES, headlined by Son Suk-ku of the Group’s associated company, Spackman Media Group Limited (“Spackman Media Group“), broke its highest audience rating since its premiere last month.

Based on Nielson Korea, MY LIBERATION NOTES, which aired yesterday, posted a nationwide audience rating of 4.6%, breaking its previous highest record of 3.8% previously. The drama premiered at an audience rating of 2% before gradually increasing to the 4% level for the subsequent episodes.

Represented by SBD Entertainment Inc. (“SBD Entertainment“), a wholly-owned subsidiary of Spackman Media Group, Son Suk-ku was ranked number one in actor popularity for MY LIBERATION NOTES, according to Good Data TV Popularity Research in Korea.

Son Suk-ku’s K-drama MY LIBERATION NOTES airs every Saturday and Sunday at 22:30 on JTBC, and is also available on Netflix. MY LIBERATION NOTES tells the story of a secretive stranger (Son Suk-ku) and three siblings (Kim Ji-won, Lee Min-ki and Lee El), who long to escape from their dead-end lives. The Korean drama is produced by Chorokbaem Media and JTBC Studios.

Alongside Ma Dong-seok (Don Lee) of Marvel Studios’ ETERNALS (2021), Son Suk-ku stars in THE ROUNDUP, a sequel to the 2017 box office hit THE OUTLAWS, which is scheduled to premiere on May 18. THE ROUNDUP was pre-sold to 132 countries around the world, including Singapore, China, Thailand, Vietnam, Indonesia and France, as well as the regions of North America and Eastern Europe.

Previously, he starred in the romance comedy film, NOTHING SERIOUS (2021), which reached #1 at the box office in Korea last year, and K-dramas, Netflix’s D.P. (2021), DESIGNATED SURVIVOR: 60 DAYS (2019) and MATRIMONIAL CHAOS (2018). He also starred in the American Netflix drama series SENSE8, which was written and produced by the Wachowski sisters.

Other than Son Suk-ku, SBD Entertainment also represents one of Korea’s rapidly rising young actors, Han Ji-hyun of popular K-drama THE PENTHOUSE 3, who won the Best Rookie Female Actor in the 2021 Brand Customer Loyalty Awards in Korea and endorsed luxury brand Gucci in April 2021.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.

The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company’s Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000’s with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit and .

Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information, please visit

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title).

The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures“) which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release THE GUEST in the second half of 2022 and A MAN OF REASON, with the previous working title GUARDIAN in 2022 tentatively.

The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content“) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Wi Ha-jun, Lee Min-jung, Ko Sung-hee), SBD Entertainment Inc. (Son Suk-ku, Han Ji-hyun, Lee Cho-hee, Park Keun-rok), UAA&CO Inc. (Kim Sang-kyung, Kim Hye-ri, Kim Ji-young, Wang Ji-won), Play Content Co., Ltd. (Kang Min-ji, Hwang-hwi) and Kook Entertainment Co., Ltd. (Baek Si-won, Shin Ji-woong). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company also operates a café-restaurant, Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, please visit

#SpackmanEntertainmentGroup

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

OPPO Research Institute Calls for Innovative Proposals on Inclusion and Health with a Total Grant of up to USD $460,000

SHENZHEN, CHINA – Media OutReach – 9 May 2022 – OPPO today announced the OPPO Research Institute Innovation Accelerator to empower technology professionals and entrepreneurs that inspiration matters to bring innovative solutions to life and create a better future together, based on the brand value proposition of “Inspiration Ahead”. The Innovation Accelerator is being held by the OPPO Research Institute and Microsoft for Startups as a strategic partner. The program aims to encourage all technology innovators to solve some of the most pressing issues facing humanity even amid times of uncertainty.

OPPO Research Institute Innovation Accelerator – Inspiration Matters

OPPO Research Institute Innovation Accelerator – Inspiration Matters

Centered on the theme of ‘Virtuous Innovation’, OPPO is looking to recruit proposals under two entry categories — Accessible Technology and Digital Health. Following the evaluation of proposals submitted by participating teams or individuals, up to ten proposals will be awarded grants of USD $46,000 each, as well as further opportunities for investment opportunities, technical support, research and commercial partnerships, and promotion at global events.

Event Schedule

Event Schedule

“OPPO believes deeply in the idea of ‘Virtuous Innovation’. As we continue to explore new technology, we remain dedicated to doing so in a way that puts people first. Through technology, we are attempting to solve some of the biggest issues facing humanity so that we can create a better world for all,” said Levin Liu, Vice President and Head of the OPPO Research Institute. “With the severity of global issues like aging populations, poor public health, and digital divide increasing day by day, we could not rely on our own efforts to provide solutions. We have therefore initiated the Innovation Accelerator to empower likeminded innovators to solve these big issues together with us using the power of technology.”

Grants and technical support aim to help promising entrepreneurs realize their visions

The 2022 Innovation Accelerator will open online applications beginning May 8, 2022, and winners will be announced after three months of preliminary evaluations and Demo Day roadshows[1]. OPPO will provide all winning teams or individuals with a financial grant, as well as support to help them further implement and promote their ideas. Each winning proposal will be entitled to the following incentives:

  • A pproximately USD $46,000 (300,000 RMB) in grants
  • Partnership and funding opportunities
  • Commercialization of the proposed via integration with OPPO products
  • Publicity and demo opportunities at global tech events
  • Support from OPPO’s R&D team including opportunities to meet and present ideas to industry professionals

Proposals will be evaluated under the supervision of a professional Judging Committee, where they will be assessed against their ability to meet four key criteria: Feasibility, Innovation & Originality, Social Value, and Long-term Potential. OPPO also invited a judging committee of experts, academics, and senior professionals in the field of technology and innovation to help identify and accelerate the development of high-potential proposals.

“Startups are home to a whole trove of innovative technologies that can provide innovative digital solutions to various industries,” said James Chou, CEO and Managing Director of Microsoft for Startups, Greater China Region, Japan, and Korea. “With a decade of experience in China, Microsoft for Startups is dedicated to building an open and collaborative platform for startups and established companies to innovate together. We look forward to working with leading smartphone brand OPPO to develop innovative solutions for a variety of industries, as well as helping research and commercial applications support each other.”

OPPO has also established a separate referral award to encourage members of the public to refer outstanding innovation cases for consideration by the Innovation Accelerator Judging Committee. Members of the public can submit referrals through the OPPO website during the application stage, with prizes available for every successful proposal that makes it through the preliminary evaluation, Demo Day, and finalist stages.

In addition, OPPO is planning three international roadshows in Hyderabad, India, Tel Aviv, Israel and the United States.

OPPO joins force with likeminded partners to deliver ‘Inspiration Ahead’ Spirit

Since its onset at the start of 2020, the global Covid-19 pandemic has disrupted the lives of billions of people around the world. At the same time, the fast development of technology is leaving certain disadvantage groups behind, creating new challenges for them as a result. As a company that takes its responsibility and commitments to society to heart through its brand mission of ‘Technology for Mankind, Kindness for the World’, OPPO hopes to address these issues and others like them through technology, helping to bring greater happiness and wellbeing to more people.

Through its continued pursuit of ‘Virtuous Innovation’, OPPO has accumulated rich experience and expertise in accessible technology and digital health, including extensive user insights and applications. Among these are its work into accessible design and adaptation for elderly users, for example its Color Vision Enhancement technology on the Find X3 series, which assists users with color vision deficiencies. With ColorOS operating system and other products, OPPO has also introduced user interfaces adapted specifically for elderly users, enabling them to enjoy the benefits and convenience of technology.

In order to facilitate health management among global users, OPPO has also founded the OPPO Health Lab, partnering with professional medical institutions and sports academies to develop innovative digital health products in both hardware and software. Through its research and development, OPPO hopes to help people improve their health through preventive healthcare.

OPPO knows that its power to change to world as single organization is limited. Through the Innovation Accelerator, OPPO hopes to connect with other likeminded individuals, teams, and organizations to identify and develop high-potential solutions so that they can benefit those who most need them. OPPO intends to build the Innovation Accelerator into a long-term platform that addresses the most pressing public issues by attracting the best solutions from the brightest minds around the world, ultimately enabling more people to benefit from Virtuous Innovation.

Applications for the OPPO Innovation Accelerator will be open from May 8 to June 30, 2022. To submit a proposal, refer a proposal, or learn more about the program, please visit the official OPPO Innovation Accelerator website at oppo.com/en/proposal/


[1] All times are China Standard Time (UTC +8).

About OPPO

OPPO is a leading global smart device brand. Since the launch of its first mobile phone – “Smiley Face” – in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find and Reno series. Beyond devices, OPPO provides its users with the ColorOS operating system and internet services like OPPO Cloud and OPPO+. OPPO operates in more than 50 countries and regions with more than 40,000 of OPPO’s employees are dedicated to creating a better life for customers around the world.

#OPPO

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

Appier records the first profitable quarter and delivers a record revenue of 4.2 billion yen with a year-over-year growth rate of 53%

TAIPEI, TAIWAN – Media OutReach – 9 May 2022 –

Highlights and achievements for the first quarter of 2022

  • Revenue grew by 53% year-over-year (YoY) to a historical high of 4.2 billion yen, growth rate reaching a three-year high
  • Gross profit significantly grew by 60% YoY with an improved gross margin of 50%
  • Operating profit turned positive since it entered the scaling phase of the business
  • EBITDA margin achieved 6.2% with a record high EBITDA profit of 262 million yen
  • Operating margin improved by 20 percentage points YoY and EBITDA margin improved by 10 percentage points YoY
  • Continuous substantial growth from the US market with YoY revenue increasing over 14X, QoQ revenue increasing over 180% and reaching to 9% of total revenue
  • Achieved 32% YoY growth in customer numbers with the lowest churn rate in the company history of 0.67%

Stellar growth momentum closed out Q1 FY22


Appier Group Inc (TSE: 4180), henceforth referred to as Appier, today announced its earnings results for the first quarter of fiscal year 2022. This quarter, Appier’s continuously improved sales productivity, increased product synergy for a higher cross-sell rate and strong customer traction in the US helped its revenue grow by 53% YoY to a historical high of 4.2 billion yen. Operating profit turned positive, Appier’s first record of profitability since it entered the scaling phase of the business. Reflecting the acceleration of revenue growth, its Annual Recurring Revenue (ARR) climbed 49% YoY to a record high of 15.8 billion yen, and gross profit growth rate has outpaced top-line growth and reached 60% YoY with an improved gross margin of 50%.

Appier’s AI technology is a key factor in the strong business expansion as the market turns to AI solutions to address current data privacy concerns and trends. The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose 6.2% to 262 million yen, a record high EBITDA profit with a 10 percentage points YoY improvement, while operating margin improved by 20 percentage points YoY.

Appier is growing alongside its customers. A historical high uplift of the Net Revenue Retention (NRR) at 126.5% places Appier in a strong position entering 2022. The number of customers grew by 281 to 1,158 with 32% YoY growth, a record level of organic incremental increase of customers with the lowest churn rate of 0.67%. New customers were mainly from the e-commerce and consumer brands & BFSI[1] industries (31% and 23% of total new customers, respectively), driven by post-COVID demand for digital transformation.

Customers in Northeast Asia continued to account for the largest share of global revenue at 63%, followed by Greater China (23%), US and EMEA (10%) and Southeast Asia (4%). The US market growth further accelerated to over 180% QoQ in FY22 Q1, marking an over 14X YoY revenue increase and accounting for 9% of total revenue. The trend towards prioritizing first-party data and a strong understanding of Appier’s core competencies in AI technology for such marketing purposes have generated strong customer traction and higher Average Revenue per Customer (ARPC) in the US.

Appier’s strong product portfolios and cross-platform network effects led its top-line and bottom-line to surpass projections, demonstrating the company’s substantial growth and outperforming track record. The company’s full-year forecast has been revised to reflect our outperformance this quarter. Revenue has been revised to 17.8 billion yen with 41% YoY growth rate. Gross profit has outpaced top-line growth to 9.2 billion yen with 48% YoY growth rate. Operating loss has been revised to 288 million yen with significant improvement compared to our initial forecast and getting closer to breaking even, and full-year positive EBITDA profit has been revised to 0.8 billion yen with a 1,799% YoY growth rate. Appier’s expansion in the US market, higher sales productivity and better product synergy are key drivers for this guidance revision in 2022.

“We are extremely proud of our achievements starting from Q1 2022, especially with the operating profit turning positive for the first time since Appier invested for growth. Our strong growth momentum enabled us to continuously improve our profit margin and eventually lead to a profitable quarter, underscoring how AI-powered marketing technologies and first-party data-centric solutions continue to lead the digital transformation with the industry tailwind. In the meantime, our international expansion strategy has allowed us to turn our initial investment into fruitful results,” said Dr. Chih-Han Yu, Appier’s CEO and co-founder. “Looking ahead, we will preserve a high-performance culture to maintain efficient sales productivity. Our customer-oriented mindset and focus on products’ key differentiators that move the needle will also accelerate our pace on product innovations and support Appier to stand out in the market,” he further elaborated.

Appier also announced its comprehensive collaboration with PXMart, the largest supermarket chain in Taiwan, with products including AIQUA, AIXON and BotBonnie. Leveraging its AI technologies to unify and enrich PX Mart’s data assets across multiple platforms, including PX Mart (company website), PX Pay (mobile payment), PXGo! (online store) and POS (offline data) to deliver personalized customer experience and optimize its operational efficiency.

Comprehensive capabilities for long-term growth

Appier’s AI-empowered engine combines algorithm processing capabilities, fundamental Auto-Machine Learning models, first-party data solutions and cross-product synergies, allowing us to uncover new customers and boost existing customer revenue expansion. As AI algorithms can learn and become more precise, higher usage drives better adherence to the model and enables a more personalized experience and more accurate predictions. First-party data solutions across web and apps and increasing product synergies also guarantee Appier’s ability to move fast to seize market opportunities and make swift progress on product iteration.


[1] Banking, financial services and insurance (BFSI) is the industry’s umbrella term for companies that provide a range of such financial products or services.

About Appier

Appier (TSE: 4180) is a software-as-a-service (SaaS) company that uses artificial intelligence to power business decision-making. Founded in 2012 with a vision of democratizing AI, Appier now has 17 offices across APAC, Europe and US, and is listed on the Tokyo Stock Exchange. Visit for more company information and visit for more IR information.

#Appier

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

SEA Games: Laos Draws 2-2 with Singapore in Impressive Match

Laos draws 2-2 with Singapore at SEA Games in Hanoi
Laos draws 2-2 with Singapore at SEA Games in Hanoi.

Laos finished up with a 2-2 draw against rival Singapore at the SEA Games Group B U-23 match in Hanoi, Vietnam.