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LBank Recruits Philippine Elites Community Ambassador to Share Crypto Growth Dividends

MANILA, PHILIPPINES – Media OutReach – 5 August 2021 – As an innovative global trading platform for various crypto assets, founded in 2015. LBank officially launched the Philippine Ambassadors Recruitment in August 2021. LBank provides its users with safe crypto trading, specialized financial derivatives and professional assets management services. It has become one of the most popular and trusted crypto trading platforms with over 5.6 million users in more than 50 countries around the world.

Digging out promising projects to benefit users has been the consistent goal of LBank. Perfect coordination among various departments in LBank and efficient decision-making has laid a concrete foundation to dig out new promising projects and get listed on LBank at the earliest time, in the meantime to forecast the future trends. Nearly 250 projects and 500 trading pairs have been launched on LBank. Furthermore, LBank is always the first CEX to list or hold special sales of some great projects such as Babydoge, Mina, Dora, KINE, Nabox, etc.

Multi-country compliance to accelerate global deployment

As one of the earliest crypto exchanges, LBank has reliable financial licenses such as NFA/MSB (U.S), MSB (Canada), and AUSTRAC (Australia). LBank ranks first in the industry in terms of annualized return on defi mining. In addition to strong assets management services, LBank has also invested in more than 100 projects in the primary market with the aim of building a comprehensive crypto ecosystem.

 

At present, LBank has cooperated with many partners in North America, Middle East, Japan, Korea and Southeast Asia etc. In order to further develop the Philippine market, we are now recruiting Philippine elites community ambassador to enjoy a win-win growth!We look forward to your ideas and help you realize them.

 

LBank Community Ambassador

Community ambassadors are responsible for local community establishment, user growth, and community management, maintaining LBank’s brand image in the local community, delivering the latest market activities, and actively providing feedback and handling various emergencies encountered by the community. They will have independent authority to plan and operate community activities. In the meantime, Community ambassadors will enjoy a much-rewarded referral commission and bonus for community operation and management. In addition, community ambassadors with outstanding performance will be promoted to the global ambassador by LBank and get more rights and rewards.

 

Apply Now: pioneer@lbank.info

Official Website: www.lbank.info

 

#LBank

AXA launches first-in-market “SurgiCare Surgical Insurance Plan” to provide lump-sum payout for VHIS defined surgeries

Survey: One in every three people in Hong Kong have had surgery
Recovery after surgeries could cost over HKD250,000
AXA fills the protection gap with premium as low as HKD10 a day

HONG KONG SAR – Media OutReach – 5 August 2021 –  AXA Hong Kong (AXA) launches “SurgiCare Surgical Insurance Plan” (“SurgiCare”). “SurgiCare” is the first-in-market surgical insurance plan based on the four levels under the existing Voluntary Health Insurance Scheme (VHIS) schedule of surgical procedures – minor, intermediate, major and complex, to provide comprehensive coverage for over 450 types of surgery. “SurgiCare” offers lump-sum benefits up to 100% of the sum insured for complex surgeries and 30% for major surgeries. It also offers unlimited[1] number of claims with a lump-sum payout of HKD2,500 and HKD6,000 for each of the covered minor and intermediate surgeries respectively.

 

 

Kevin Chor, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau, shared his insights into the recent survey results on Hong Kong people’s experience with surgery, and introduced the key benefits of the newly launched “SurgiCare Surgical Insurance Plan”.


It does not matter what illness it might be or where the surgery takes place, “SurgiCare” offers customers a lump-sum benefit whenever a surgical procedure is medically necessary and covered by the VHIS. “SurgiCare” offers support to non-medical daily and additional expenses incurred during the recovery journey, which serves as a great supplement to customers’ existing medical insurance plans that can only cover the medical bills. With “SurgiCare”, customers can enjoy a truly comprehensive health protection.

With premium as low as HKD10 per day[2], customers can be well protected by “SurgiCare”. Premium of “SurgiCare” will not be affected by medical inflation. Regardless of any change in health condition and claim history after plan enrolment, renewal of “SurgiCare” is guaranteed up to the age of 100. From now until 30 September 2021, customer who purchases two policies or more with different insured person(s), each policy can enjoy up to 12-month premium rebate.

 

Major or complex surgeries are common and require financial support and time for recovery

In Hong Kong, over one-third (36%) of people have gone through at least one surgery in their life, according to a joint survey[3] conducted by AXA and YouGov, an international research and data analytics group. Among those who have undergone major or complex surgeries, nearly 20% spent over HKD250,000 during their recovery which can last for over two weeks (66%) or even over 3 months (14%). This may also lead to a loss of income – 62% experienced a surgery-related income loss, of which nearly 10% had no income for more than one year. Furthermore, the data of Hopitial Authority[4] shows that major and complex surgeries are very common. In 2019-2020, over 100,000 operations performed inside operating theatres were major or complex surgeries, which accounted for 57% of the total number of operations.

Kevin Chor, Chief Life and Health Insurance Officer, AXA Hong Kong and Macau, said, “From our survey results and the Hospital Authority data, we can see that surgeries are very common in Hong Kong and many citizens have undergone major or complex surgeries. Apart from medical expenses, post-operative care is essential. Once discharged from the hospital, there might be non-medical needs such as purchase of  nutritional supplements, home medical equipment, or even organising professional caregiving service which can be expensive. However, many of these expenses may not be reimbursed by medical insurance nor covered by critical illness insurance. ‘SurgiCare’ helps fill this protection gap and provides holistic protection to our customers, underscoring AXA’s commitment to being a true lifelong partner to our customers.”

Extra Companion Benefit for parents to take care of their loved ones

AXA also fully recognises that many parents would be very worried if their children are hospitalised, thus “SurgiCare” provides an extra one-off payout amounting to 5% of the sum insured as a Companion Benefit if the insured aged 12 or below undergoes a covered major surgical procedure or complex surgical procedure.

For more information on “SurgiCare”, please visit: https://www.axa.com.hk/en/surgicare-surgical-insurance-plan

 

The above information is for reference only. For details on premium rebate and product features, content, terms and exclusions, please refer to the product brochure, policy provision and promotional leaflet.


[1] The minor / intermediate surgical procedure is eligible for this benefit only when there is no preceding minor/ intermediate surgical procedure performed on the same body part within the last 5 years.

[2] Calculation based on the annual premium of “SurgiCare Surgical Insurance Plan” for a 30-year-old male non-smoker with HKD 300,000 sum insured.

[3] The survey was conducted between 24 and 29 June 2021 using YouGov’s online panel in Hong Kong, with a total of 1,032 interviews were completed. Figures are weighed in relation to online population in Hong Kong.

[4] According to the Hospital Authority Statistical Report 2019-2020.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 54 markets and serving 105 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

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

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

We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example, the Mind Charger function on our holistic wellness platform “AXA BetterMe”, which is available via our mobile app Emma by AXA, is open to not just our customers, but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.

THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: AXA.COM.HK

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

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

#AXA

Appier delivers strong performance in second quarter and revises upward full-year forecast

Significant gains in profitability growth fueled by AI-enabled transformation from customers across APAC and US


Appier delivered the following results for second quarter of fiscal year of 2021:

  • Revenue growth up 50% YoY to a historical high of 2.8 billion JPY
  • Gross profit increased 77% YoY
  • Annual Recurring Revenue (ARR) growth up to a historical high of 10.8 billion JPY, up 38% YoY
  • Significant profitability improvement with EBITDA up 24 percentage point comparing with same period of last year and hit historical high
  • Approached EBITDA break even for the whole quarter (-1%)
  • June delivered first-time ever operating profit on a monthly basis since 2013 when Appier invested for growth
  • Operating income improved by 22 percentage points YoY
  • Upward revision of full year forecast from 10.9 billion JPY to 11.7 billion JPY with 7% of increase
  • Gained new customers with an increase of 29.4% YoY and 7.5% QoQ, which is the highest quarterly organic increase

TAIPEI, TAIWAN – Media OutReach – 5 August 2021 – Appier Group Inc (TSE: 4180), henceforth referred to as Appier, today announced its Q2 earnings results for its second quarter ended 30 June 2021, which saw strong growth in revenue and profit as its customer base expanded and deepened across Asia-Pacific and the US. Appier’s gross profit increased 77% year-on-year (YoY), with revenue up 50% to hit a historical high of 2.8 billion JPY.  Annual recurring revenue (ARR) hit a historical high of 10.8 billion JPY, up 38% YoY.

 

Appier completed its listing on the Tokyo Stock Exchange on March 30, 2021 and turned a monthly operating profit in June for the first time since 2013 when they started to invest for growth. Appier’s gross margin climbed from 42% to 50% YoY, while its EBITDA (earnings before interest, taxes, depreciation and amortization) margin rose 24 percentage points from -25% to -1% YoY. Existing customers and new customer acceleration were instrumental for this upward trend as the LTM NRR (last twelve months net revenue retention rate) shot up to historical high of 120.2% in Q2.

 

“We attribute our substantial growth this quarter to our ability to help our customers capitalize on opportunities in the new digital economy as the global pandemic continues to accelerate digital growth across Asia. Our customers are recognising the benefits brought about by elevating their business performance with artificial intelligence (AI) technologies,” said Dr. Chih-Han Yu, Appier’s CEO and co-founder. “Many companies are still at the start of their AI-powered digitization and we help them make sense of the entire customer journey, from prospecting and acquisition to retention using AI-informed analytics. The post-pandemic digital-first environment is only going to become more complex but technology allows business leaders to cut through that complexity and make informed decisions. Appier is well-positioned to help customers continue their AI-enabled digitization as demonstrated by this quarter’s strong results.”

 

Enterprise demand for sharper insights fuels growth

 

Increased customer demand for services that support transformation efforts has driven Appier’s strong results, with customer growth at 29.4% YoY. The ecommerce sector continues to see accelerated growth in the face of the global pandemic. Geographically, Appier posted revenue gains in each region across Asia-Pacific with more than 40% increase. In the US, Appier is witnessing a steady growth trajectory as revenue grew 100% QoQ, having established its presence only a year ago.

 

Appier witnessed strong customer growth at 29.4% YoY and 7.5% QoQ with the highest organic increase in number of customers. The need for businesses to elevate their marketing performance and improve customer satisfaction in a digital-first environment, which is especially dynamic in Asia Pacific, gave Appier a boost this quarter. The AI-native SaaS company is uniquely positioned to help enterprises tackle the customer journey from end to end with the aid of machine-learning and advanced analytics.

 

Conversational marketing play seen as key strategic move

 

Appier made its debut into the conversational commerce and marketing space in June, following the acquisition of BotBonnie, an omnichannel chatbot platform announced in May. Conversational commerce is a global phenomenon that will continue to accelerate as total spend over conversational commerce channels will reach $290 billion by 2025 globally (rising from $41 billion in 2021). This is a 590% increase over the next four years. With the addition of BotBonnie to Appier’s suite of AI solutions, customers can now add conversational marketing to their commerce and stay on top of the ever-evolving customer expectations underpinned by the need for instantaneous service, answers and information. Gartner expects that by 2023, 40% of enterprise applications will have conversational AI embedded in their functionality, up from a current 5%.

 

Market-driven innovation continues to play a big part in Appier’s product strategy as witnessed in the number of product updates during Q2. These include the addition of a predictive actions feature to AIQUA, which helps businesses deliver personalized messages to their customers; the launch of Creative Studio, which enables easy, coding-free online store creation and website tailoring; and the acquisition of BotBonnie in May, an omnichannel chatbot platform, which it is combining with its own solutions such as AIDEAL, a tool to predict purchase intent and motivate hesitant buyers. Appier’s AI-native products support customer engagement and acquisition, deliver customer insights and drive purchase.

 

With its uniquely Asia-first approach in the competitive SaaS industry, Appier sees large enterprises and small businesses competing on an increasingly level playing field where customers are won and lost based on quality of service, and customer experience. 

 

About Appier

Appier 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 U.S., and is listed on the Tokyo Stock Exchange. Visit www.appier.com for more information.

#Appier

Industrial & Manufacturing Employment Up 60% in Q2 2021 from Q1: Michael Page Singapore

SINGAPORE – Media OutReach – 5 August 2021 – Global recruitment specialists Michael Page Singapore witnessed the number of jobs rise in Q2 2021 compared to Q1 led by an increase in Industrial & Manufacturing at 60%. This was followed by an increase in opportunities within Sales & Marketing (up 41%) and Digital (up 33%). According to job opportunity data shared by Michael Page, Q2 2021 saw managed an overall 8% growth in job opportunities from Q1 2021.

Nilay Khandelwal, Managing Director, Michael Page Singapore

Speaking from recent observations, Nilay Khandelwal, Managing Director of Michael Page Singapore says, “This marked increase in employment within industrial & manufacturing is due to growth plans across semiconductor chip manufacturers, capital equipment as well as electronics makers. The job functions in-demand are varied across front-end roles such as design professionals, testing/verification to back-end roles such as packaging, field support and quality management.”

“Automation and digitalisation remain a key focus for most organizations and there has been a consistent demand for automation professionals. Due to the active technical employment market right now, job seekers are more inclined to make a job move hence many companies are replacing their headcount as well as hiring for their expansion plans at the same time,” Nilay Khandelwal continues.

Hiring in Sales & Marketing almost doubled in Q2 2021 and as reported in the Michael Page Singapore Talent Trends 2021 report, these professionals are most in-demand within the Healthcare & Life Sciences as well as FMCG sectors.

“With the progression of social media, marketing across all digital channels is priority for companies who want to get their products and services seen in a crowded consumer space. In order to ensure optimal visibility, companies who can hire top performance marketeers skilled in driving campaigns, A/B testing and maximising cost per acquisition will gain the competitive edge”, comments Nilay Khandelwal.

An 11% rise in contracting job opportunities was also observed from Q1 to Q2 which indicates an encouraging shift towards agile hiring in Singapore as well. Nilay Khandelwal observes, “In these times of uncertainty, fixed-term professional hiring provides a lot of flexibility and a variety of experience in a short time. Contracting has proven itself to be a viable solution to headcount limits or project hire, and can save cost and improve the flexibility of the workforce.”     

Source: Information and facts procured from Michael Page Singapore’s proprietary data

#MichaelPageSingapore

Advanced Energy Launches Programmable DC Power Supplies for the Test and Measurement Market

New iLS Series features industry-leading small footprint, high-power density and patented wireless remote sense

DENVER, COLORADO – Media OutReach – 5 August 2021 – Advanced Energy (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement and control solutions – today expands its presence in the test and measurement market with the launch of the new Intelligent Laboratory SeriesTM (iLSTM) of programmable DC power supplies. With industry-leading small footprint and high-power density, the iLS600, iLS600-R and iLS1500 feature programmable capability with best-in-class measurement accuracy, and a patented wireless remote sense feature that significantly reduces noise in a wide range of test and measurement applications.

Designed for both benchtop and rackmount applications, the compact, lightweight, programmable units incorporate embedded 12-bit D/A and A/D converters for highly accurate voltage and current measurement. Digital rotary controls enable rapid adjustment and fine-tuning of the output voltage and current while front (iLS600) and rear (iLS600-R and iLS1500) ports offer convenient control remotely via USB, Ethernet and analog control inputs. The wireless remote sense feature regulates the DC voltage at the load without added sense wires to greatly reduce noise.

“This is an important step in broadening our solutions for the test and measurement market,” said Joe Voyles, vice president marketing, industrial power conversion products at Advanced Energy. “Offering programmable capability across a wide range of voltages, the iLS Series allows users to simulate a broad range of applications while delivering accurate measurement and reporting to meet customer requirements.”

The iLS600 and iLS600-R power supplies feature a single output that delivers power up to 600 watts. The iLS1500 power supply offers a single output delivering up to 1500 watts of power. Five single output models ranging from 30 V to 400 V are available for both the iLS600 and iLS1500. The DC power supplies allow both series and parallel operation. Output current ranges from 2.5 A to 33 A for the iLS600 and iLS600-R, and from 5 A to 70 A for the iLS1500.

With full OCP and OVP protection, the power supplies conform to UL 60950-1, UL 62368-1 and CAN/CSA C22.2 No. 62368-1 product safety standards. They are LXI-certified for easy interoperability with other devices and available LabView Drivers.

The iLS600 and iLS600-R and iLS1500 are available now. For detailed product information and technical specifications, visit www.artesyn.com/solutions/test-and-measurement

About Advanced Energy

Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.

Advanced Energy | Precision. Power. Performance.

#AdvancedEnergy

SMEs Making Strides In Workforce Training, But More Can Be Done

  • NTUC LHUB saw a 75% increase in SME training places in the past year
  • Despite that, SMEs (49%) are least likely to train employees, as compared to MNCs (30%) and large private Singapore Companies (25%)
  • SMEs (49%) are also most likely to leverage training schemes and grants, as compared to private sector multinational corporations (36%) and large private Singapore companies (33%)

SINGAPORE – Media OutReach – 5 August 2021 – For small and medium-sized enterprises (SMEs) that are manpower-lean, upskilling is one of the ways to optimise productivity especially amidst the pandemic. However, according to NTUC LearningHub (NTUC LHUB)’s recent Employer Skills Survey 2021[1], when asked about their intention to send their staff for training, SMEs (49%) are the least likely to do so, as compared to MNCs (30%) and large private Singapore Companies (25%). 

 

Encouragingly, NTUC LHUB saw a 75% increase in the number of SME training places from 2020 to 2021[2]. In particular, training areas such as Information Technology (IT) and Adaptive Skills courses saw an increase in the number of SME training places by 67% and 56% respectively. NTUC LHUB observes that many SMEs require workers who are digital-ready and adaptive amidst the ever-changing business landscape.

 

NTUC LHUB’s Head of ICT Isa Nasser says, “It is heartening to see that many SMEs are sending more staff for training. However, many operationally-intense companies find that time constraints and the lack of resources are major roadblocks for upskilling. While the desire for SMEs to train and upskill their workforce is apparent, those who do not have the right set-ups in place are disadvantaged.”

 

Prioritising Continuous Learning as a Business Imperative

 

To ease SMEs into upskilling endeavours and to provide continuous support for training needs, NTUC LHUB has developed a range of initiatives from digital solutions to tailored advisory.

 

Earlier this year, NTUC LHUB launched the LHUB GO Infinity online platform where learners can access over 75,000 on-demand courses at affordable rates. The service has been expanded to enterprises, where SMEs can utilise LHUB GO Enterprise Solutions to support workforce capability frameworks.

 

SMEs can tap on different packages on LHUB GO Enterprise with an annual subscription fee for companies with less than 500 users, or even up to 5,000 users. The platform serves as a Learning Management System that enables companies to build a learning ecosystem and engage with employees to track their progress. To ensure SME’s workforce upskilling stays aligned to business objectives, employers can create or upload custom content through the easy-to-use course creation tools, including built-in assessment and quiz engines.

 

Supporting SMEs with End-to-End Learning Solutions

 

According to the Employer Skills Survey 2021, when asked about the likelihood to pursue upskilling by leveraging on government support schemes, SMEs (49%) are most likely to do so, as compared to private sector multinational corporations (36%) and large private Singapore companies (33%).

 

Beyond providing the delivery of training courses, NTUC LHUB also supports enterprises in providing end-to-end learning solutions. This includes firstly analysing the companies’ business goals and identifying skills gaps through a training needs analysis. Targeted skills training will enable SMEs to upskill employees in the most efficient and cost-effective way. NTUC U SME, an initiative of the Labour Movement that supports Small and Media Enterprises in their business needs, has collaborated with NTUC LHUB to launch programmes for their SME partners.

 

Yeo Wan Ling, NTUC U SME Director commented, “With the recent announcement of additional Government support measures to help SMEs cope with the pandemic, NTUC U SME will help our local enterprises leverage these measures and prepare for the post-COVID-19 economy. One way this can be achieved is through workforce training to identify gaps and build new capabilities. I encourage SMEs to view training as a priority and empower employees to not only increase productivity at work but transform their businesses in these uncertain times.”

 

“Being one of the key pillars of our economy, more SMEs must relook into their strategic imperatives in the New Normal, and equip their workforce with the right skillsets to achieve their new aspirations. NTUC LHUB is here to help enterprises by providing end-to-end training solutions for their employees, so that they can be well-positioned to thrive in the post-pandemic climate,” says Sivakami D/O Gopalakrishnan, Senior Director Corporate Sales, NTUC LearningHub.

 

Training schemes and funds include the Enhanced Training Support Programme (ETSP) and Enhanced Absentee Payroll (EAP). Under the ETSP, NTUC LearningHub has trained over 200 SMEs from hard-hit sectors such as tourism, retail, food and beverages, arts and culture, marine and offshore, and aerospace.

 

NTUC LHUB also works closely with NTUC U SME to support SMEs with their training needs. Together with United Overseas Bank (UOB)’s innovation accelerator The FinLab, and Ngee Ann Polytechnic, the SME Digital Reboot Programme was launched in March 2021 to uplift enterprises through digital transformation.

 

To find out more about the courses offered by NTUC LHUB, visit www.ntuclearninghub.com or www.ntuclearninghub.com/lhub-go/enterprise-solutions/.

[1] NTUC LearningHub’s Employer Skills Survey 2021 report was conducted in February 2021 with over 200 business leaders across Singapore.

[2] The total number of SME employees enrolled in training with NTUC LearningHub increased year on year by 75% from March 2020 to March 2021.

About NTUC LearningHub

NTUC LearningHub is the leading Continuing Education and Training provider in Singapore which aims to transform the lifelong employability of working people. Since our corporatisation in 2004, we have been working with employers and individual learners to provide learning solutions in areas such as Cloud, Infocomm Technology, Healthcare, Employability & Literacy, Business Excellence, Workplace Safety & Health, Security, Human Resources and Foreign Worker Training.

To date, NTUC LearningHub has helped over 25,000 organisations and achieved over 2.6 million training places across more than 500 courses with a pool of over 600 certified trainers. As a Total Learning Solutions provider to organisations, we also forge partnerships and offer a wide range of relevant end-to-end training solutions and work constantly to improve our training quality and delivery. In 2020, we have accelerated our foray into online learning with our Virtual Live Classes and, through working with best-in-class partners such as IBM, DuPont Sustainable Solutions and GO1, asynchronous online courses.

For more information, visit www.ntuclearninghub.com.

#NTUCLearningHub

Incomlend Announces Multi-Million Invoice Financing Programme to Support Fashion Tex Asia Ltd and Sadat Apparels Ltd Meet Seasonal Demand in the United States

Quick Turnaround Facility Allows the Companies to Seize New and Growing Revenue Opportunities in the Bangladesh Booming Export Market

DHAKA, BANGLADESH Media OutReach – 5 August 2021 – Global invoice financing marketplace, Incomlend, announced a new invoice financing programme for Fashion Tex Asia Ltd, an apparel buying house, and Sadat Apparels Ltd, a garment manufacturer. Both companies are based in Bangladesh with customers in the United States (US), Europe and South America. The working capital solution allows the companies to finance and increase the production volume of their sweaters and stock up on garments that are in season and demand. One of Sadat Apparels Ltd’s key customers, a US-based clothing wholesaler, is looking to stock up on its products in preparation for the increased seasonal demand for sweaters during Fall-Winter, providing new revenue streams for the company.


Typically, it takes Fashion Tex Asia Ltd and Sadat Apparels Ltd up to 120 days to cash in an invoice. However, the extended credit terms can potentially impair cash flow and impede their ability to boost their manufacturing output and source merchandise to meet demand upticks. Incomlend is founded in Singapore and with offices in Europe, India, and Southeast Asia. It connects small and medium enterprises (SMEs), like Fashion Tex Asia Ltd and Sadat Apparels Ltd, globally with communities of investors, enabling them to buy and sell individual invoices in an invoice exchange platform.

 

The quick turnaround facility provided by Incomlend enables Sadat Apparels Ltd and Fashion Tex Asia Ltd to cash in an invoice as early as three days after its goods are shipped to the buyer. The companies now have the working capital to cover their operational expenses and meet new orders coming from the US. The Invoice Financing Programme also offers Sadat Apparels Ltd and Fashion Tex Asia Ltd the financial agility to pursue new growth opportunities as the appetite for garments from Bangladesh continues to soar globally. 


Based on Bangladesh’s Export Promotion Bureau data, the country’s exports saw a sharp increase of 112% in May 2021, compared to 2020. The growth is primarily due to the rebound in demand for ready-made garments (RMG) as major markets worldwide reopen their economies. According to McKinsey, the RMG sector accounts for 84% of Bangladesh’s exports.

 

Fashion Tex Asia Ltd and Sadat Apparels Ltd, Managing Director Rezaul Karim Jahid said:

“With Incomlend Invoice Financing Programme, we can concurrently retain our customer by offering competitive payment terms and free up our working capital. We now have access to a steady cash flow to pump back into the production cycle and increase turnover and profit, contributing significantly to our business growth. We look forward to working with Incomlend for the long-term.”


Incomlend CEO and Co-founder Morgan Terigi commented:

“Bangladesh is home to many apparel manufacturing SMEs and is an emerging export powerhouse in South Asia. As a company with a proven experience in the garment industry, Incomlend strongly supports these SMEs in capitalising on positive market conditions with our quick turnaround financing facility. We are enabling manufacturers like Sadat Apparels Ltd and buying houses like Fashion Tex Asia Ltd to scale their business and expand their footprint overseas by providing them with competitive and alternative non-recourse working capital solutions.”


For more information on Incomlend, please visit https://www.incomlend.com/.

 

Web | Facebook | LinkedIn | YouTube

About Incomlend

Incomlend is a global invoice financing marketplace for businesses and private capital. Founded in 2016, the Singapore-based company has processed more than 2,300 transactions and provides invoice finance services in over 50 countries worldwide. As one of the first alternative cross-border trade finance platforms globally, Incomlend enables companies to finance their export invoices by selling them to institutional investors at a discount. For more information, visit www.incomlend.com.

#Incomlend

First-ever Hang Seng Index Warrants by Kenanga

Set to boost trading appetite of traders

KUALA LUMPUR, MALAYSIA – Media OutReach – 5 August 2021 – Hang Seng Index (“HSI”) structured warrants issued by Kenanga Investment Bank is now listed on FBMKLCI namely, HSI-CIW and HSI-HMO.

This launch marks Kenanga’s first foray into offering investors exposure to East Asia via structured warrants on the Main Market. The HSI is the most widely quoted performance indicator of the Stock Exchange of Hong Kong (“SEHK”), the fourth largest stock exchange operator in the world.

The Hang Seng Index tracks the performance of around 50 of the largest, most liquid stocks in Hong Kong market including global names such as Alibaba Group, Meituan, HSBC, Xiaomi, Tencent, Henderson and Sino Biopharm.

This launch appeals to traders with higher risk appetites as macro-economic conditions are creating great trading opportunities in the HSI.

“At Nagawarrants by Kenanga, our commitment is to provide carefully designed financial instruments that offer traders diverse exposure according to their risk and return preferences. Demonstrated by the high daily demand for our current warrants, it is clear that we are on the right path serving customers who prioritise quality warrants and profitability over quantity. This is why we are expanding our warrant issuances to include Hang Seng Index warrants.

Our intense focus on online education, cutting-edge trading tools, reliable market-making abilities and liquidity empowers traders to arrive at profitable and informed decisions.” said Philip Lim, Head of Equity Derivatives at Kenanga Investment Bank.

In conjunction with the launch, Kenanga Investment Bank will be hosting their first-ever Hang Seng Index Warrants webinar, jointly with Bursa Malaysia, on 7th August 2021, Saturday.

The webinar will feature Mr Azhar Mohd Zabidi from Bursa Malaysia, Ms Isabelle Zhen from Kenanga Investment Bank and Mr Johan J. Lee, a Hang Seng warrants specialist from Hong Kong where participants can learn about the Hang Seng Index Warrants and at the same time, stand a chance to win prizes courtesy of Garmin Malaysia.

Structured warrants are generally used to make money from volatility. Bullish investors typically buy a call warrant to benefit from an up trending underlying asset while bearish investors may buy a put warrant to benefit from a down-trending underlying asset.

Kenanga’s local equity warrants have consistently been the most popular trading instruments in Malaysia, as demonstrated by its “Best Structured Warrants Issuer 2020” award by Bursa Malaysia, accounting for over 25 percent of warrant turnover in 2020.

For more information on Kenanga, please visit www.kenanga.com.my

 

About Kenanga Investment Bank Berhad 197301002193 (15678-H)

Established for more than 45 years, Kenanga Investment Bank Berhad (“the Group”) is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing.

The Group has garnered a host of awards and accolades reflecting its strong market position. It was awarded under the categories of Best Overall Equities Participating Organisation by Bursa Malaysia, Best Overall Derivatives Trading Participant, Best Structured Warrant Issuer, Best Retail Equities Participating Organisation, Best Institutional Equities Participating Organisation Investment Bank; along with Best Trading Participant and Best Institutional Equities Participating Organisation and for Equity and Financial Derivatives for 18 consecutive years. The Group was also accorded the title of Best Institutional Derivatives Trading category by Bursa Malaysia.

The Group continues to be a regular and repeat recipient of distinguished industry accolades, such as the Lipper, Fundsupermart and Morningstar awards. For its continued efforts towards community outreach and employee volunteerism, the Group was awarded the coveted company of the year award for environmental awareness and sustainability at Sustainability & CSR Malaysia Awards 2020.

Today, Kenanga Investment Bank Berhad is an award-winning leading independent investment bank in the country with a continuous commitment towards driving collaboration, innovation, and digitalization in the marketplace.

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