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Sino Jet Ranked First in Fleet Size in Asia-Pacific for 3rd Year in a Row

HONG KONG SAR – Media OutReach – 12 May 2022 – Sino Jet has cemented its position as Asia Pacific’s leading business jet operator for three consecutive years. It ranked number one in fleet size in Asia Pacific for the third year in a row, according to the 2021 Business Jet Fleet Report from Asian Sky Media.

Overview of top 20 operators by fleet – rank change 2021 vs 2020. Source from 2021 Business Jet Fleet Report – Asian Sky Media
Overview of top 20 operators by fleet – rank change 2021 vs 2020.
Source from 2021 Business Jet Fleet Report – Asian Sky Media

Mainland China consolidated its position as the largest market in the Asia-Pacific region with a total of 340 business jets. In 2021, Sino Jet reinforced its position as Asia-Pacific’s biggest operator by having the most new deliveries of aircraft directly from OEMs, included the Bombardier Global 6500 and Gulfstream G650.

Sino Jet said, “Amid strong demands for business jet travel, stringent restrictions and quarantine requirements in many countries have placed new challenges on scheduling aircraft deliveries and aircraft maintenance work overseas, sustaining safety and efficiency have become the keys to success in the market.”

In regard to rising challenges, Sino Jet has put forward a business strategy to develop an “extensive service network”, “comprehensive maintenance capabilities” and an “integrated information management”. Sino Jet has invented a new aircraft delivery model, obtained operation and maintenance licenses for major business jet aircraft models in Greater China, and created an information management system that is tailored for all aspects of business aircraft management.

In addition to its operating bases in Beijing and Hong Kong, Sino Jet continued to boost investment in its Shanghai branch in 2021 and established a new Jiangsu branch, which complements its Hangzhou base to form a strong Yangtze River Delta service network. At the same time, Sino Jet has also set up offices in Hebei and Fujian. Recently, Sino Jet signed a strategic cooperation agreement with the Hainan Free Trade Port, and its Hainan subsidiary has increased its charter capacity to meet demand from the Port. To date, Sino Jet has operating bases and branches in 20 cities around the world, and its extensive service network can help drive up operational efficiency for its aircraft management clients and bring the option of charter jet travel to more business travelers.

The safety standard at Sino Jet is widely recognized. Being a holder of multiple operation and maintenance licenses issued by a number of National Aviation Authorities, including China, the United States, Europe, The Cayman Islands, Bermuda, Aruba, The Isle of Man, Guernsey, and San Marino, Sino Jet is able to provide management services to aircraft with various foreign registrations within China. Sino Jet is also licensed to provide qualified scheduled maintenance services to major business aircraft types from Bombardier, Gulfstream, Dassault and other popular aircraft manufacturers, further enhancing their aircraft utilisation by removing the need to be serviced abroad.

In aircraft operations, Sino Jet attributes the very best possible operational scenarios in terms of safety to the latest technology it adopts. Sino Jet created its own information technology development subsidiary, which has designed an advanced aircraft operation system, a maintenance management system, safety management system, flight quality monitoring system and other information systems. All these systems are designed to be highly integrated, to ensure traceability of all aircraft operations, as well as every safety and quality management process. These advanced systems are proven to play an important role in maximising aircraft preservation value.

“Begin from the clients’ perspectives, sincerely care for the clients’ valuable assets through effective controls, make no compromise to safety and operate with the highest degree of efficiency. This is how Sino Jet gains trust and confidence from its customers, promotes the safety and convenience of business jet travel, and leads to new business jet ownerships. As the global economy recovers, the business jet market is expected to usher in even greater development.” Sino Jet said.

About Sino Jet

Sino Jet, founded in 2011, it specializes the management and operation of large business jets. Its business ranges from aircraft trading, aircraft maintenance, global charter services, ground handling, fixed based operator (FBO), to luxurious travel services and more. Sino Jet is fully committed to the concept of the complete life cycle management of its aircraft and it is also the first business jet company in mainland China to obtain the highest level of safety recognition for international business jet operations – IS-BAO level 3 certification. Furthermore, Sino Jet has been named “The World’s Leading Business Jet Company” at the World Travel Awards in 2020 and 2021.

Sino Jet has dual headquarters in Beijing and Hong Kong. The company is also rapidly expanding in Mainland China with bases in Shanghai, Hangzhou, Shenzhen, Guangzhou, Xiamen, Zhuhai, Chengdu and Singapore etc.

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#sinojet #BusinessJetFleetReport #BusinessJetOperatorAsia #bizav #BusinessAviation #AsianAviation

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

TECNO Is Among the First to Make Android 13 Beta Available on Its Latest CAMON 19 Pro 5G to Launch

HONG KONG SAR – Media OutReach – 12 May 2022 – At the Google I/O 2022 held from May 11 to 12, Google officially unveiled Android 13 Beta 2, the new generation operating system. As a global pioneer in electronic technology, TECNO Mobile was amongst the first smartphone manufacturers to join the Android 13 Beta Program. Its latest product, the CAMON 19 Pro (5G), will run on Android 13 Beta, delivering both superior performance and privacy & security to users.

Android 13 beta for TECNO CAMON 19 Pro
Android 13 beta for TECNO CAMON 19 Pro

Meanwhile, TECNO also declares that they will be updating the Android 12 on its CAMON 18 series, and will continue to be dedicated to making their users the early adopters of the latest system and cutting-edge technology breakthroughs with the freshest product experience.

Android 12 for TECNO CAMON 18 Series
Android 12 for TECNO CAMON 18 Series

“We are glad that through the long-term partnership with Google, TECNO has been providing our users with the latest Android system to bring them extraordinary using experiences. The TECNO CAMON 19 Pro (5G) with Android 13 Beta will definitely allow our users to be among the first to access new features and bring them pleasures. ” said Stephen HA, Vice President of TRANSSION and GM of TECNO Mobile.

With the spirit of “Stop At Nothing”, TECNO aims to encourage users to explore unlimited possibilities. While offering intelligent products that blend technology and art, TECNO aspires to create a smarter and more stylish lifestyle for them. Its much-anticipated CAMON 19 Pro (5G) is a high-performance smartphone designed for young fashionists, focusing on TECNO’s industry-leading night portrait capabilities.

Android 13 has key optimizations including:

  • Stricter Notification Permission – Privacy and user trust are core principles of Android products. To give users control over the notifications they want to follow, Android 13 introduces POST_NOTIFICATIONS — a new runtime permission. This means that apps need to request notification permissions from users before posting notifications.
  • Color vector fonts – Android 13 adds rendering support for COLR version 1 (spec, intro video) fonts and updates the system emoji to the COLRv1 format. COLRv1 is a new, highly compact, font format that renders quickly and crisply at any size. COLRv1 can be adopted for the app starting in Developer Preview 2.
  • Convenient Text Conversion API – Android 13 allows apps to call the new text conversion API, which will make it easier for users to find the content they need faster and easier.
  • Upgraded Bluetooth LE Audio – With Low Energy (LE) audio, users would be able to share and broadcast their audio to others, or subscribe to public broadcasts for information, entertainment and more, while seamlessly switching between different use cases.

For more specific download steps please visit official website: https://spot.tecno.com/global/forum.php?mod=viewthread&tid=170154

#TECNO

OldTown White Coffee Wins Praise for Comprehensive New Global Animal Welfare Policy

KUALA LUMPUR, MALAYSIA – Media OutReach – 12 May 2022 – OldTown White Coffee, one of Malaysia’s largest kopitiam restaurant chains, won praise today from international NGO Lever Foundation for its comprehensive new farm animal welfare policy.

The new policy—issued by OldTown’s Dutch parent company JDE Peet’s—will, among other things, require egg suppliers to use cage-free production methods; require fish suppliers to avoid high stocking densities, use less-cruel slaughter practices, and regularly monitor for water quality and disease; require chicken suppliers to adhere to Global Animal Partnership animal welfare standards on stocking density, enrichment and litter; and require beef suppliers to prohibit tail docking and castration without painkillers and provide sufficient enrichment and litter. The new policy will apply to all of OldTown’s over 230 restaurant locations, locally as well as in Singapore, Indonesia and China.

“Like our customers, JDE Peet’s is concerned with the welfare of farm animals used in the group’s supply chain and is committed to improving farm animal welfare across our global supply chains,” JDE Peet’s announced in its updated policy. “We require our direct suppliers of ingredients from animal origin to engage in continuous improvement to promote better standards in quality, safety and animal welfare respecting the Five Freedoms.”

“We applaud this excellent new animal welfare policy which will reduce the suffering of egg-laying hens, fish, chickens, and other animals throughout OldTown White Coffee’s supply chain,” said Vilosha Sivaraman, Sustainability Program Manager at Lever Foundation, which worked closely with the brand’s parent company JDE Peet’s on drafting the new global policy. “We hope more leading food companies will follow OldTown White Coffee’s example in addressing farm animal welfare across their operations, including through a shift to cage-free eggs.”

A study conducted by researchers at the Department of Agribusiness at Universiti Putra Malaysia (UPM) found that 86% of consumers prefer to purchase “green” foods—more healthy, sustainable, safe and humane food products—and 91% believe such foods must prevent unnecessary animal suffering. Another study, published in the international academic journal Animal Welfare, found Malaysian consumers strongly support greater farm animal welfare protection.

About Lever Foundation

Lever Foundation is a global NGO that works with leading food companies in Malaysia and across the region to help them upgrade their protein sourcing for a more humane, safe and sustainable supply chain, with a focus on cage-free eggs and alternative protein.

#LeverFoundation

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

Laos Chamber of Commerce Proposes Strategies to Stabilize Currency

Vice President of the Lao National Chamber of Commerce and Industry Mr Daovone Phachanthavong
Vice President of the Lao National Chamber of Commerce and Industry, Mr Daovone Phachanthavong

The Lao National Chamber of Commerce and Industry has proposed a number of strategies for stabilizing the currency and ending the ongoing fuel crisis in Laos.

“Fuel Tourism” as Laotians Cross into Thailand to Fill Up

Laotians are taking "fuel holidays" to Thailand.
Laotians are taking "fuel holidays" to Thailand.

A new type of tourism has emerged as a burgeoning fuel crisis sweeps across Laos, with Laotians crossing into Thailand to fill up their vehicles.

Bizgital and Loca: Moving On Up

Bizgital and Loca have officially launched their new office and are ready to make a positive difference in the startup community.

CUHK Business School Research Suggests Supply Chain Health Serves As A New Way to Predict Credit Ratings

HONG KONG SAR – Media OutReach – 12 May 2022 – Investors have used credit ratings to assess a company’s financing risk, but small- and medium-sized enterprises (SMEs) are often completely left out of the game. The Chinese University of Hong Kong (CUHK) Business School-led study promises to level the playing field and change the credit-rating landscape by looking into supply chain factors.

(Source: iStock)
(Source: iStock)

It is no secret that credit ratings directly affect how a company raises funds and structures its capital. Investors typically prefer companies with higher ratings because they carry a lower risk of default. Companies strive to get higher ratings to gain access to better financing options.

However, SMEs are often left out of the game, as it is very costly to get rated regularly by analysts from credit-rating agencies. At the same time, most SMEs don’t publish their financial statements publicly. The lack of data and ratings on these companies puts them at a disadvantaged position when it comes to obtaining valuable financing.

To address this “missing link” in the credit rating landscape, a team of researchers at CUHK Business School and the University of Cambridge has developed a robust method to demonstrate that supply chain information in and of itself can greatly improve the predictability and accuracy of credit ratings. As such, SMEs which have main supply chain partners that regularly disclose financial and operational information to the market can potentially be rated and so stand a better chance in getting loans with better financial terms. This approach also carries implications on regulators’, financial institutions’ and supply chain financiers’ decision-making.

Why did the researchers choose to focus on supply chain factors when studying the credit rating predictions? Wu Jing, Assistant Professor in the Department of Decision Sciences and Managerial Economics at CUHK Business School, points out a number of studies in recent years on the significant influence of supply chain partners on the financial health of companies.

“We have seen how bankruptcies of firms negatively affect the stock prices of their suppliers. We have seen how the performances of suppliers can shake up the equilibrium of a firm’s asset prices. And not only so, changes along the supply chain impact other partner firms along the chain, too. So it’s only natural to imagine that all the information along the supply chain, though at different degrees, can influence a firm’s credit ratings,” says Prof. Wu.

Machine-Learning Comes to Aid

Because the process of analysing a firm and assigning a credit rating is a painstaking one requiring a large amount of work and resources, it has become a tool that only large-scale companies can afford. Recent developments in artificial intelligence and machine learning technologies are promising tools that could level the playing field.

In a recent study, Prof. Wu and his collaborators, Sean Zhou, Chairperson in Department of Decision Sciences and Managerial Economics at CUHK Business School, and Zhang Zhaocheng at the University of Cambridge, used a machine learning framework to develop an algorithmic credit-rating prediction model by incorporating supply-chain information. The study was titled Credit Rating Prediction Through Supply Chains: A Machine Learning Approach.

“The machine learning framework has been proven to be extremely powerful in solving prediction problems in recently published economics and finance literature,” says Prof. Zhou. “By leveraging machine learning algorithms over publicly available data sets on supply chains, our work can significantly improve the prediction accuracy of credit ratings.”

Of particular interest is that this method can be applied to assess the credit ratings of a large number of companies which do not publicly disclose any of their own financial and operational data, by leveraging on the public domain information of their main supply chain partners.

“As SMEs are often financially constrained and rely on external financing to sustain their operations, having the ability to assess their credit ratings in a non-traditional way can help them raise capital more easily,” says Prof. Zhou.

In addition, Prof. Zhou points out that such companies can further adapt their operational and supply chain strategies to improve their ratings once they have figured out how their supply-chain factors affect their ratings.

Robust Predictability

The study’s sample comprises 1,134 U.S. non-financial firms using data from 2004 to 2019. The data mainly come from the 10-K filings on the Compustat database, and the Factset Revere supply chain observations, which cover a wide and comprehensive range of sources like conference call transcripts, press releases, websites and more. On average, each firm in the study’s sample has 11.56 suppliers and 7.57 customers.

Using different machine learning models, the researchers tested the robustness and accuracy of their unique model and found it to be solid. A 5 percent improvement in the accuracy ratio is achieved when supply-chain variables were added to the benchmark credit-rating prediction model, which didn’t contain supply-chain factors. In addition, the team found that their model can predict credit ratings reasonably well by using supply chain information alone without the focal firm’s attributes.

“This suggests that our approach has the potential to apply to a large number of companies whose financial information is not publicly available, such as SMEs,” Prof. Wu remarks.

“Our method of using their supply chain information can be applied to assess their credit ratings. This would be instrumental to their supply chain partners and financial institutions for assessing their risk and in designing financial products and services uniquely suitable for them.” There is a nuance in the finding: Incorporating supply-chain data in the credit-rating prediction is more meaningful and informative if a company relies more heavily on the supply chain for its operation. Examples are manufacturing and retail companies. That’s the reason why financial companies were not chosen in the study, as they don’t rely much on supply chains for their operations.

The prediction accuracy for retail companies improved by about 8.5 percent after supply chain variables were incorporated. For manufacturing companies, the accuracy improved by about 6.7 percent. For sectors other than retail and manufacturing, the accuracy increased by no more than 4 percent. The differences can be explained by the level of reliance on suppliers and customers. The heavier reliance on supply chain partners, the stronger the financial ties. As a result, credit risk is spread along the supply chain in a more significant way.

Regulators and governments should also take note of these novel studies on supply chain transmission of credit risk. This is because once a company defaults, its credit risk may be propagated to other companies along the supply chain and so triggers a larger impact on the real economy. The research could help advise regulators on which type of companies they should monitor their credit ratings more closely to prevent risk spillovers. On the other hand, SMEs provide more than half of the world’s jobs, but often have no credit rating, becoming the object of discrimination in the traditional financing market. The research findings can help governments enact policies that help SMEs to reduce their financing costs. Finally, the researchers add that governments should promote the use of these types of automated credit ratings which make use of supply chain data and machine learning algorithms, and which can improve financial inclusiveness and economic development.

Reference:

Wu, Jing and Zhang, Zhaocheng and Zhou, Sean, Credit Rating Prediction Through Supply Chains: A Machine Learning Approach (October 27, 2021). Available at SSRN: https://ssrn.com/abstract=3951507

This article was first published in the China Business Knowledge (CBK) website by CUHK Business School: https://bit.ly/38RJPli

About CUHK Business School

CUHK Business School comprises two schools – Accountancy and Hotel and Tourism Management – and four departments – Decision Sciences and Managerial Economics, Finance, Management and Marketing. Established in Hong Kong in 1963, it is the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, CUHK Business School offers 10 undergraduate programmes and 20 graduate programmes including MBA, EMBA, Master, MSc, MPhil and Ph.D. The School currently has more than 4,500 undergraduate and postgraduate students from 20+ countries/regions.

In the Financial Times Executive MBA ranking 2021, CUHK EMBA is ranked 19th in the world. In FT‘s 2022 Global MBA Ranking, CUHK MBA is ranked 50th. CUHK Business School has the largest number of business alumni (40,000+) among universities/business schools in Hong Kong – many of whom are key business leaders.

More information is available at or by connecting with CUHK Business School on:
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WeChat: CUHKBusinessSchool

#CUHKBusinessSchool

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

Razer Merchant Services The First Online Acquirer In Malaysia To Enable Acceptance Of Discover Global Network At e-Commerce Merchants

Razer Merchant Services (RMS) enables Discover® Global Network acceptance for 2000 e-commerce businesses in Malaysia by 2023.

SHAH ALAM, MALAYSIA – Media OutReach – 12 May 2022 – Razer Merchant Services (“RMS”), the B2B arm of Razer Fintech, has partnered with Discover® Global Network, the global payment brand of Discover Financial Services, as the first acquirer to enable Discover Global Network card acceptance at online merchants in Malaysia. By 2023, RMS aims to enable 2000 e-commerce merchants in Malaysia to accept by Diners Club International®, Discover® and affiliate network cards for online transactions.

By enabling the card scheme, local merchants would access a significant global customer segment with a diversified payment acceptance as the e-commerce industry continues to experience increased growth. GlobalData’s E-Commerce Analytics reports that e-commerce payments in Malaysia is estimated to increase at a Compound Annual Growth Rate of 18.3% from RM 28.5 billion ($7.1bn) in 2021 to RM 55.7 billion ($13.8bn) in 2025.

This collaboration offers a strategic advantage for RMS merchants to tap into the billion-dollar market with Discover Global Network and reach more than 280 million cardholders worldwide.

“This partnership cements RMS’ continued leadership in enabling a plethora of comprehensive payment channels for our online merchants, thus, providing diverse payment options for their customers. RMS merchants can further expand their business reach by casting a wider net in the regional and global market as we look to replicate our offerings with Diners Club International and Discover across Southeast Asia,” said Lee Li Meng, CEO of Razer Fintech.

“This partnership between Razer Merchant Services and Discover is pivotal in expanding the Malaysian e-commerce market to our global partners,” said Jonathon Gould, regional managing director, global acceptance, Asia Pacific at Discover. “We are committed to continuously providing great benefits and convenience to our cardholders around the world by offering options to make online payments more seamless across borders.”

Cost-reduction methods through a single seamless integration through RMS will benefit e-commerce merchants while providing a variety of payment methods to drive e-commerce sales locally and globally. Cardholders on Discover Global Network can seamlessly pay RMS merchant by selecting the “Diners Club International or Discover” option as the preferred payment channel, filling up the details and completing the payment, reducing yet another barrier for global e-commerce operations.

About Razer Fintech

Razer Fintech is the financial technology arm of Razer Inc. Established in April 2018, Razer Fintech has grown to become one of the largest O2O (offline to online) digital payment networks in emerging markets and has processed over billions of dollars in total payment value. Razer Fintech recorded a Total Payment Volume (TPV) of US$7 billion for FY 2021, representing an increase of 63.5% year-on-year with its B2B arm, Razer Merchant Services (“RMS”), a major contributor to the figure.

RMS, a leading B2B (business-to-business) solution encompasses:

* RMS Online: Card processing gateway supporting global scheme cards and over 110 payment methods, powering online payments for global and regional blue-chip merchants in SEA.

* RMS Offline: SEA’s largest offline payment network of over 1 million physical acceptance points across SEA. RMS Offline also extends point-of-sale services (such as bill payments and telco reloads), cash-over-counter services including fulfilment of e-commerce purchases, distribution of third-party point-of-sale activation (POSA) cards, and merchant acquiring services for third-party e-wallets.

For more information, please visit our website at merchant.razer.com.

Merchants interested in online payment services, may email us at .

Merchants interested in offline reloads, may email us at .

#RazerFintech #RazerMerchantServices