28.8 C
Vientiane
Tuesday, July 1, 2025
spot_img
Home Blog Page 2734

Johnson Electric Reports Results for The Half Year Ended 30 September 2021

Highlights of FY21/22 Half-Year Results

 

  • Group sales US$1,674 million – up 26% compared to first half of the prior year. Excluding the effects of foreign currency movements and an acquisition, sales increased by 21%
  • Gross profit US$357 million or 21.3% of sales (compared to US$300 million or 22.5% of sales in first half of the prior year)
  • Adjusted EBITA US$138 million (compared to US$135 million in first half of the prior year)
  • Net profit attributable to shareholders decreased by 8% to US$93 million or 10.36 US cents per share on a fully diluted basis
  • Underlying net profit, excluding the net impact of restructuring costs and non-cash items, decreased by 2% to US$96 million
  • Decline in profit margins as a result of various factors, including global supply chain disruptions, commodity price increases and reduced COVID-19 related subsidies
  • Free cash outflow from operations US$56 million (compared to a free cash inflow of US$68 million in first half of the prior year)
  • Acquisition of E. Zimmermann GmbH, a specialist automotive machining business based in Germany
  • Total debt to capital ratio of 18% and cash reserves of US$487 million as of 30 September 2021
  • Interim dividend 17 HK cents per share (2.18 US cents per share) with a scrip dividend alternative

 

HONG KONG SAR – Media OutReach – 11 November 2021 – Johnson Electric Holdings Limited (“Johnson Electric”), a global leader in electric motors and motion subsystems, today announced its results for the six months ended 30 September 2021.

 

Total Group sales for the first half of FY21/22 totalled US$1,674 million, an increase of 26% over the first half of the prior year. Excluding the effects of foreign currency movements and an acquisition, sales increased by 21%. Net profit attributable to shareholders decreased by 8% to US$93 million or 10.36 US cents per share on a fully diluted basis. Underlying net profit, after adjusting for the effects of a number of non-cash items and restructuring costs, decreased by 2% to US$96 million.

 

Automotive Products Group

 

The Automotive Products Group (“APG”), which accounted for 76% of total Group sales, reported a 21% increase in sales on a constant currency basis and excluding an acquisition. A significant part of this increase relates to the fact that in the period from late March to May 2020, much of Johnson Electric’s automotive component operations in Europe and the Americas were effectively shut down due to the pandemic.

 

Although direct comparisons with the same period in the prior year are therefore somewhat misleading, APG achieved sales growth well above global auto industry production growth of approximately 6% during the six months from April to September 2021. The drivers of this sustained outperformance are the division’s focus on innovative technology solutions that enable electrification, reduce emissions, improve fuel economy and heighten end-user comfort and safety.

 

APG’s sales performance on a regional level reflected both variations in the progression of the COVID-19 pandemic and the disruptive impact of several supply chain bottlenecks that have hit the global automotive sector over the period under review.

 

In Europe and the Americas, APG’s sales in constant currency and excluding an acquisition increased by 34% and 29%, respectively. As previously noted, the majority of this growth was achieved as OEM assembly plants in these regions were no longer closed for pandemic containment reasons and end-market consumer demand for passenger vehicles was exceptionally strong. However, throughout the period under review, the automotive industry struggled to cope with a prolonged shortage of semiconductors and other components. This has required all major auto OEMs to make frequent changes to production schedules, suspend production of selected vehicle models and temporarily close some factories entirely. In Europe, these disruptions to supply resulted in the lowest number of new passenger vehicle registrations in the month of September since 1995.

 

APG’s sales in Asia increased by 8% in constant currency terms. Light vehicle production volumes in the region were flat compared to the same period in the prior year, with China’s production volumes declining by 11%. China’s economy recovered quicker from the impact of the pandemic in 2020 and hence the weakness of its automotive industry compared to the prior year’s April to September period was largely a reflection of the global microchip shortage and a subdued domestic consumer economy. Demand and production activity in Southeast Asian markets were also negatively impacted by a resurgence in COVID-19 in several countries.

 

Industry Products Group

 

The Industry Products Group (“IPG”), which accounted for 24% of total Group sales, reported a 19% increase in sales on a constant currency basis compared to the first half of the prior year.

 

The changes to consumer behaviour and purchasing preferences that emerged during the pandemic remained a strong growth driver for many of the product applications served by IPG during the first half. Lawn and garden, white goods, window automation, beverages, power tools and other “home-centric” segments experienced particularly high sales growth due to a combination of recent programme launches, new business wins and increased market demand. Sales in the medical segment also increased, as automated surgical tools took market share from manual medical devices.

 

The global supply chain constraints that have weighed on the automotive sector also held back production in several of IPG’s end markets. In addition to semiconductor shortages, these included shortages in other materials and components, and disruptions to shipping schedules. Notwithstanding these supply challenges, IPG’s order book throughout the period remained at among its highest levels in recent years.

 

Profitability and Financial Condition

 

Gross profit increased by 19% to US$357 million – which as a percentage of sales represented a decline from 22.5% to 21.3%. The decline in the gross margin reflected a combination of factors. Rising labour costs, exacerbated by the inefficiencies caused by components shortages and disruptions to customer production schedules, adversely affected the gross margin. Furthermore, the significant reduction in pandemic-related subsidies and the ending of one-off cost-saving initiatives, as well as the marked increase in underlying raw materials costs (partially offset by hedging contracts) also reduced the gross margin.

 

Group operating profits amounted to US$117 million compared to US$122 million in the first half of the prior year. The reduction in reported operating income and in net profit attributable to shareholders was primarily due to the substantial increase in freight and logistics expenses that was only partly offset by an increase in the net contribution from Other Income.

 

The COVID-19 pandemic and its repercussions has created an unprecedented shock to the container shipping sector. The whiplash effect of demand collapsing and then rebounding sharply has resulted in an imbalance in the availability of containers worldwide – with a significant shortage in Asia. Events such as the blockage of the Suez Canal and spikes in COVID-19 cases in several major container ports have further disrupted the normal operations of the global logistics supply chain. As a result, spot market prices for shipping containers on some routes have soared by more than five times their average price over the previous five years.

 

Excluding costs related to the restructuring of the Group’s manufacturing footprint and non-cash items mostly related to foreign currency movements, the underlying net profit margin for the first half decreased to 5.8% compared to 7.4% in the first half year of the prior year.

 

Higher inventories in response to the rebound in end-market demand and increased capital expenditure on automation and development of the Group’s manufacturing footprint resulted in a free cash outflow of US$56 million for the period. Johnson Electric’s financial condition remains robust with a total debt to capital ratio of 18% and cash balances of US$487 million as of 30 September 2021.

 

Interim Dividend

 

The Board has today declared an interim dividend of 17 HK cents per share, equivalent to 2.18 US cents per share (2020 interim: 17 HK cents per share). The interim dividend will be payable in cash with a scrip alternative where a 4% discount on the subscription price will be offered to shareholders who elect to subscribe for shares. Full details of the scrip dividend alternative will be set out in a circular to shareholders.

 

The interim dividend will be payable on 12 January 2022 to shareholders registered on 2 December 2021.

 

Corporate Strategy and Development

 

Johnson Electric is now into its seventh decade of providing motion solutions to customers worldwide. Although we are operating in a world where the pace of technological change has never been faster or more unpredictable, the range of opportunities open to our business has never been greater.

 

Several long-term trends driving consumer demand, including increased electrification, emissions reduction, automation, mobility, healthcare and safety, are dependent on the types of product offering and technologies that are at the heart of what we do as a business. Our R&D efforts are therefore focused on anticipating and meeting these customer needs through innovative designs that deliver optimum performance at an attractive price.

 

Sustaining success over the long term, however, requires a recognition that the context and competitive environment in which we are operating is never stable. Examples include the reintroduction of trade barriers because of rising geopolitical tensions, the shock of the COVID-19 pandemic and, most recently, a near “perfect storm” of disruptions to global manufacturing supply chains.

 

Our response to these challenges is, in part, to drive forward with the investments we have been making over several years to adapt the shape and nature of our global operations. This means building large-scale production and engineering capabilities in each of the three major economic regions of the world to reduce dependence on any one region and to be closer to our end customers. It also requires investing in advanced, automated production platforms to improve quality and address the increasing scarcity and rising cost of direct labour.

 

In addition to those significant investments, we are working hard to combine the latest advances in digital technology and our own deep pool of business and product data to enable dramatically faster response times to customers.

 

The ultimate goal of our strategy is to ensure that our business is aligned with the most promising opportunities for profitable growth and equipped with an operating model that is sufficiently agile and resilient to succeed in rapidly changing conditions.

 

Supplementing the organic transformation of Johnson Electric’s business model, we are continuing to pursue external opportunities to leverage our existing capabilities and create new growth options.

 

In May 2021, we completed the acquisition of E. Zimmermann GmbH, a specialist machining business based in Germany. The combination of Zimmermann’s know-how in machining automotive differential housings with Stackpole’s powder metal expertise is set to open a new opportunity for the Group to expand its presence in power transmission systems in new energy vehicles.

 

In October 2021, IPG formed a new joint venture company with Cortica Ltd., an Israel-based leader in the field of autonomous artificial intelligence. Leveraging Johnson Electric’s experience across a wide range of manufacturing processes with Cortica’s unique self-learning technology, this new business enterprise will focus on developing and marketing AI-driven quality assurance software for industrial automation processes.

 

Chairman’s Comments on the Half-Year Results and Outlook

 

Commenting on the results, Dr. Patrick Wang, Chairman and Chief Executive, said, “Johnson Electric experienced a strong recovery in demand in the six-month period ended 30 September 2021, as most major economies rebounded from the COVID-19 global pandemic. That rebound has been accompanied by a number of widely reported supply chain headwinds that have had a negative impact on the Group’s margins and are continuing to present a challenge to global manufacturing enterprises.”

 

“The rather mixed picture of the first half of the 2021/22 financial year looks set to continue in the second half. On the one hand, end-market demand remains buoyant and the Group continues to win new business programmes and market share in many of the fastest growing product applications for both our automotive and industry products divisions. On the other hand, there is no clear sign that the global supply chain disruptions and inflationary forces that hampered operations and depressed profit margins in the first half are behind us.”

 

“The prolonged shortage of semiconductors continues to weigh heavily on the automotive sector and looks likely to persist through all of 2022. High raw material and logistics costs, combined with rising labour rates, will also remain a burden on the business in the near term given the practical challenges and lag effect of passing additional costs on through pricing changes.”

 

Dr. Patrick Wang further commented, “Looking beyond the next six to twelve months, the prospects for improved profitability and cash flow generation are more encouraging given the strong customer pull for Johnson Electric’s technology solutions and the progress we are making in transforming our global manufacturing footprint and business processes.”

About Johnson Electric Group

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

#JohnsonElectric

Forward Looking Statements

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

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

NEOLINK clinched the Singapore Technology Excellence Award for Cloud – Telecommunications

Accelerates digital transformation and innovation for enterprises in Asia Pacific

HONG KONG SAR – Media OutReach – 11 November 2021 – NEOLINK, a sub-brand of VNET Group (Nasdaq:VNET), is honored to announce that it wins the Singapore Technology Excellence Award for Cloud – Telecommunications organized by Asian Business Review, a regional magazine serving Asia’s dynamic business community. The Singapore Technology Excellence Awards, as part of the umbrella Asian Technology Awards Program, is the most prestigious awards programme in the region dedicated to technological projects and innovations. It aims to recognise exceptional companies that are riding the digital disruption wave and leading the technological revolution and digital transformation journeys in their respective industries. NEOLINK is crowned with its innovative and unique tech initiatives and solutions that made exceptional contributions to the industry.

 

Today, the cloud is becoming an increasingly differentiating factor, as IT and business decision-makers recognise that a single-cloud approach does not deliver the required breadth and flexibility for technologies. Enterprises are driving forward their digital transformation and cloud initiatives all under a common goal: improving the efficiency of their IT and processes, and closely integrating them with business innovations.

 

Taking cloud native technology as the core, NEOLINK integrates five product lines, which include data center, network products, hybrid cloud, bare metal, and O&M management services. NEOLINK is even powered by its two subsidiaries DYXnet and TenxCloud which have solid experience in WAN architecture, network security, DevOps, microservice governance, data platform construction, as well as development and operation of cloud-native technologies. NEOLINK believes by empowering both the network direct connection between data centres and hybrid networking, it helps enterprises expand IDC business from the on-premise to cloud deployment, migrate the business deployed on cloud to data centres, and facilitate hybrid data processing. Moreover, its Automatic Operation and Maintenance Platform can effectively reduce the system failure rate and improve the delivery efficiency. This liberates engineers from the tedious operation and maintenance work and helps them focus on the construction and optimisation of the platform and continuously improve the service quality. These promising technologies have made NEOLINK stand out to win the Cloud – Telecommunications category at the Singapore Technology Excellence Awards 2021.

 

Jay Yang, General Manager of Hybrid Cloud PBU from NEOLINK, was invited for the online award presentation and interview with Asian Business Review. “We are honored to win the Singapore Technology Excellence Award for Cloud – Telecommunications. This award does not only serve as a recognition of our technology and commitment, but also as an endorsement of our mission on client-side new infrastructure. NEOLINK will form a comprehensive ecosystem for partners in different fields which enables subscription model for on demand services. Our customers can have a better control on their budget which is essential for most of the growing companies”, he said.

 

As one of the trusted partners of leading multinational and business enterprises in the Asia-Pacific region, NEOLINK is committed to providing reliable, flexible and  innovative full-stack services for clients’ digital transformation, and becoming a full lifecycle service provider for the digital transformation of enterprises.

About NEOLINK

NEOLINK is a new subsidiary brand of VNET Group, which is a NASDAQ-listed company and a leading carrier-neutral data center service provider in China. Focusing on the client-side new infrastructure, NEOLINK is committed to providing stable, reliable, flexible and innovative infrastructure and cloud computing services for clients’ digital transformation, and becoming a full lifecycle service provider for the digital transformation of enterprises.

Taking cloud native technology as the core, NEOLINK integrates five product lines, which include data center, network products, hybrid cloud, bare metal and O&M management services. In collaboration with its two subsidiary brands- TenxCloud (a domestic leading professional service provider in the field of cloud native applications and data platforms) and DYXnet (a leading telecom carrier-neutral network service provider in Greater China), NEOLINK provides enterprises of different scales with Internet infrastructure lifecycle services that can empower their long-term business growth.

For more information about NEOLINK, please visit https://www.neolink.com/

#NEOLINK

FUJIFILM Business Innovation Singapore Kicks Off All-New, Refreshed Inno-Vision Forum

The inaugural FUJIFILM Inno-Vision Forum showcased a diverse line-up of highly prolific industry leaders who shared best practices and success stories of business automation in the new Digital First World.

SINGAPORE – Media OutReach – 11 November 2021 – FUJIFILM Business Innovation Singapore, world’s leading provider of document services and printing technologies using pioneering smart devices, today concluded its all-new annual flagship event, FUJIFILM Inno-Vision Forum 2021.

 

As global economies gradually reopen, the FUJIFILM Inno-Vision Forum 2021, reviewed the best innovations that have helped organisations emerge stronger from the pandemic-induced recession, the power of a solid underlying digital infrastructure and the impact of its associated data, as businesses collectively continue to progress towards a post-pandemic world.

 

“In April this year, we changed our brand name to FUJIFILM Business Innovation, with the core purpose of bringing business innovations to our customers in a growing complex and digital world. Many organisations are looking into new ideas, better ways of working, and innovative solutions that will help grow their customer base and improve their productivity and profitability,” said Mr Koh Ching Hong, Chief Executive Officer, FUJIFILM Business Innovation Singapore. “Our goal for the FUJIFILM Inno-vision Forum is to spark rich conversations on the different aspects of innovation, digital transformation, and the trends ahead, so that business leaders can build a future-ready organisation that will withstand the test of time.”

 

The 2-day virtual conference was opened by Mr Koh Ching Hong. The first Inno-Vision Forum explored two themes together with industry leaders from the information technology, resource-based manufacturing, and telecommunications sectors.

 

Propelling Enterprise Innovation with Automation

The first keynote presentation during the enterprise segment featured Mr Wasim Khan, Chief Commercial Officer, FUJIFILM Ripcord as he shared the true value of digitising data which is the usability of that data across all other business functions and contexts. For example, how understanding the past records of a hotel guest’s activities, dining preferences, special requests, to name a few, can help hotels better personalise his next stay to achieve complete customer satisfaction. FUJIFILM Ripcord is a joint venture between Ripcord and FUJIFILM Business Innovation Singapore. Aimed to drive digital transformation forward by completely ridding corporations of reliance on paper records, FUJIFILM Ripcord utilises state-of-the-art Robotics to not only digitise data but Artificial Intelligence to give meaning to these data as well.

 

Mr Simon Piff, Vice President, Practice Group, of IDC Asia/Pacific examined how organisations that were able to harness the power of innovation not only for products but processes, customer, and employee engagement as well, are the ones who emerged stronger from challenging times. He also shared their best practices, and how all enterprises can also achieve the vision of the future digital workspace.

 

The track concluded with an insightful panel discussion as enterprise leaders discussed how automation fuels innovation. The panellists involved were:

  • Mr Koh Ching Hong, Chief Executive Officer, FUJIFILM Business Innovation Singapore
  • Mr Simon Piff, Vice President, Practice Group, IDC Asia/Pacific
  • Mr Geok Seong Wah, Director, E-Invoice Project Office, IMDA
  • Mr Ben Chong, Chief Information Officer, ISS Facility Services Private Limited
  • Mr Abhishek Singh, Chief Digital Officer, RGE Pte. Ltd.

Mr Geok Seong Wah, Director of the E-invoice Project Office, IMDA, shared that “data is the new oil” that fuels innovation, and automation is needed for data to flow. He cited IMDA’s nationwide initiatives where automation has not only helped data to make sense within an organisation but from organisations to organisations as well, such as the Singapore Trade Data Exchange, a public-private partnership model, and InvoiceNow, which uses FUJIFILM Business Innovation’s technology to automate invoicing processes.

 

Empowering Small and Medium-sized Businesses Through Business Process Automation

Optimising operations, controlling cost, enhancing risk management and regulatory controls; these are buzzwords that every growing small and medium-sized businesses (SMBs) hope to achieve. The SMB track of the Inno-Vision Forum explored how intelligent automation with machines, systems, and processes is an essential tool to have for SMBs who are looking to scale and innovate in a Digital First World.

 

The panel “Overcoming Challenges to Support Digitalisation” was kicked off by Mr Howard Ng, General Manager, Services & Solutions Business, FUJIFILM Business Innovation Singapore, as he provided findings from the 2020 SME Digital Transformation Study by the Association of Small & Medium Enterprise, where it was found that 99% of these businesses have adopted at least the most basic level of digital technologies while only 39% perceived their digital implementation to be successful. Together with notable panellists in the sector, the discussion shed light on challenges faced by SMBs, why Business Process Automation (BPA) is essential to businesses, how up-and-coming technologies such as blockchain can optimise the implementation of BPA, and other solutions that are resource-efficient and cost-effective that can help business reach their digitisation goals. The panellists included were:

  • Siraj Iqbal, Assistant Director, E-invoice Project Office, IMDA
  • Rudy Lim, Chief Executive Officer, OIO Holdings 
  • Jeff Cham, Business Technology Director – Digital Office, M1 Limited

The panel discussion was followed by a presentation by Mr David Lane, General Manager, FUJIFILM CodeBlue Australia and Mr Matt Conaghan, Head of APAC Operations, FUJIFILM CodeBlue Australia, as they shared a fresh perspective on how outsourcing is no longer just a financial benefit for businesses but is now incorporated into business strategies to manage risks and allow businesses to scale in technology adoption for growth.

 

The Inno-Vision Forum 2021 officially concluded with an on-demand Demo Showcase where delegates could pick and play various types of solutions tailored to their organisation’s needs and watch at their own convenience.

 

FUJIFILM Business Innovation Singapore continues to support their customers’ innovation demands by automating workflows so that customers can focus on innovating through the times. FUJIFILM Business Innovation Singapore serves as the gateway to digital transformation – making your business speedier, and information accessible.

 

The Inno-Vision Forum is now also available on demand upon request.

For media assets, please download the files here.

To learn more about the Inno-Vision Forum 2021, please visit FUJIFILM Business Innovation Singapore social media pages:

Facebook: https://www.facebook.com/FUJIFILMBusinessInnovationSingapore

LinkedIn: https://www.linkedin.com/company/fujifilm-business-innovation-singapore/

 

About FUJIFILM Business Innovation Singapore

FUJIFILM Business Innovation Singapore is committed to continue offering innovations to businesses globally to help maximise their organisational strengths. Having pioneered numerous technologies and accumulated expertise since its establishment as Fuji Xerox Singapore in 1965, FUJIFILM Business Innovation Singapore builds an environment that encourages the use of one’s creativity by effectively adopting information and knowledge. FUJIFILM’s portfolio includes conducting R&D, manufacturing and sales of world-class multifunction printers, production printers and IT solutions, as well as business process outsourcing services. On April 1, 2021, FUJIFILM Business Innovation Singapore Pte. Ltd. changed its name from Fuji Xerox Singapore Pte Ltd to a name that embodies its commitment to continue as a company that always pursues business innovation.

To learn more about FUJIFILM Business Innovation Singapore’s commitment to innovation, customer service and sustainability, please visit https://www-fbsg.fujifilm.com/ .

#FUJIFILM

Laos Voted World’s 3rd Friendliest Country in Rough Guides List

Laos Ranked Third Friendliest Country in the World
The friendly faces of monks in southern Laos.


Laos has been ranked the third friendliest country in the world according to a list compiled by a London-based travel publisher.

ERA Singapore Management and Trusted Advisers Raised $231K to Lead ESG Efforts in Real Estate Industry and Community Outreach

  • The funds will be donated to the Hong Kah North Environmental Sustainability Fund in support of the Singapore Green Plan 2030, benefitting over 42,000 household
  • ERA to embrace sustainability and empower its network of over 8,300 trusted advisers and their clients through promoting green practices and providing volunteerism and fundraising avenues
  • Three key ESG focuses: Creating a green and sustainable living environment for Singaporeans, employee well-being, and development of evolutionary solutions

SINGAPORE – Media OutReach – 11 November 2021 – ERA Singapore (ERA) announced a series of ESG (Environmental, Social, and Governance) efforts today during its Q4’21 Career Advancement Day, themed “ESG by ERA”. The company will focus on three priority areas – creating a green and sustainable living environment for Singaporeans, employee well-being, and development of evolutionary solutions.

 

SUPPORTING GRASSROOTS ORGANISATION TO ACCELERATE SINGAPORE GREEN PLAN 2030

The kickstart of ESG efforts had been made memorable, thanks to 21 esteemed patrons comprising ERA senior management and trusted advisers, who each donated S$11,000, totalling to a sum of S$231,000 that will be donated to Hong Kah North Environmental Sustainability Fund. This fund will be used to help the grassroots organisation develop green and sustainable living environment for its residents.

 

The donation funds will support two of the five key pillars under the Singapore Green Plan 2030 — City in Nature and Sustainable Living, and is expected to benefit over 42,000 Tengah Town’s households and other parts of Hong Kah North. These include:

  • The building of a community garden on the top deck of a multi-storey carpark at Bukit Batok West Avenue 8, opposite the new Tengah Town. This will increase green cover as well as enhance livability and connections among residents.
  • Setting up an Eco Hub in Tengah Town to widen environment education and encourage sustainable living practices such as Reduce, Reuse, and Recycle (3R) and community gardening. This includes organising eco-workshops to promote upcycling and green living among residents, as well as eco-activities with community partners such as schools and volunteer welfare organisations to showcase residents’ eco-projects.
  • To foster a spirit of inclusivity and collaboration, the donations will be used to organise eco-activities with community partners, such as schools and volunteer welfare organisations, and showcase residents’ eco-projects. The funds will also provide education grants and assistance to students and residents from vulnerable families. These programmes aim to encourage residents to adopt green habits and nurture a community of green champions.

 

Speaking at the virtual conference, Dr. Amy Khor, Senior Minister of State for Sustainability and the Environment commended ERA for embracing sustainability and empowering its network of more than 8,300 trusted advisers and staff in promoting green practices and providing volunteerism and fundraising avenues in support of the Green Plan.

 

In a bid to propel ERA’s ESG efforts, the ESG by ERA committee will be chaired by Ms Doris Ong, who is the newly appointed Deputy CEO of ERA Singapore. “We’re proud to lead these efforts and promote the adoption of ESG practices among our staff, trusted advisers, clients and corporate partners in their daily life and decision-making process,” said Ms Ong. “ERA’s contribution towards the Hong Kah North Sustainability Fund is a good start, and we will strive to become a green corporate citizen in other areas such as tackling the distribution of bottled water at property launches, incorporating and promoting green practices inside and outside the company. We have more initiatives in the pipeline and will continue to harmonise ESG frameworks into our business strategy and day-to-day operations.”

 

As the only real estate agency in Singapore to own its building, ERA is also taking the lead in maintaining high green standards within ERA APAC Centre, as well as raising awareness among its clients and the industry on this pillar. Since moving its headquarters to ERA APAC Centre last year, ERA has installed energy-efficient appliances and lights during the renovation phase to ensure an environmental friendly workspace. The building is currently in the midst of approval for the BCA Green Mark certification scheme. ERA will continue to maintain and uphold its energy saving standards in all offices and will monitor and analyse its energy consumption patterns with the aim to lower the energy intensity ratio and greenhouse gas emissions.

 

The company has also made a significant progress in reducing its carbon footprint through the adoption of paperless submission of documents via e-Form, creation of personalised digital materials such as e-books, flyers, mailers and website for marketing purposes, as well as reduced usage of cheques.

 

PROMOTE ECONOMIC, PHYSICAL AND MENTAL WELL-BEING OF ERA’S TRUSTED ADVISERS

Employee well-being has become a key issue for the ‘Social’ pillar under ESG, especially with the increased stress levels during the Covid-19 pandemic. Firmly entrenched in its sharing and caring culture, ERA’s network of trusted advisers are encouraged to support one another.

 

ERA has been making changes to further improve the economic, physical and mental well-being of their trusted advisers:

 

  1. ERA advocates gender equality and provides fair opportunities for all. As one of the few female C-Suite leaders in the real estate industry, Ms Doris Ong is breaking glass ceilings as the new Deputy CEO of ERA. She spearheads an integral division, Project Marketing, which secured ERA as Singapore’s first real estate agency to clinch projects from conglomerate developers. She leads a team that has planned and executed marketing launches for over 200 international and local residential projects. 
  2. ERA believes in encouraging its trusted advisers to reach their full potential through motivational recognition programs. During the Q4 Career Advancement Day, ERA senior management handed out tokens of appreciation to the esteemed patrons who contributed towards the ESG at ERA funds, as well as awards for its existing and new trusted advisers who achieved outstanding performance in the last quarter.
  3. Continuing its annual Loyalty Growth Dividends initiative, ERA will be giving out approximately S$1 million in 2022 to appreciate and recognise its top-performing leaders in ERA and to share the fruits of the company. This initiative serves to underline ERA’s focus on investing on human capital – one that is heavily vested on recruitment and retention.
  4. To support the teambuilding efforts of ERA’s division directors, the company will also invest an average amount of $18,000 for each division director under DD Branch-Out Bonus Scheme.
  5. ERA’s CEO Mr Marcus Chu personally hosted a 4-hour long Positive Mental Attitude sharing session for its network of trusted advisers. The first session featured 4 ERA teammates as special guests who shared stories about pivotal moments and near-death experiences that changed their lives. Mr Chu plans to conduct the session regularly to guide and protect its trusted advisers from conditions such as depression and anxiety.
  6. A collaboration with CGS-CIMB, the #1 market share brokerage firm in Singapore for the last three years, to promote financial literacy and empowerment among busy ERA trusted advisers via their digital investment platform, ProsperUS. ERA’s trusted advisers are given complimentary access to all educational materials such as weekly charts, investment articles covering three major markets – Singapore, Hong Kong and the United States, as well as live webinars to help them achieve financial security through portfolio diversification in real estate and stocks. Both organisations will also integrate the ESG criteria into the collaboration to promote sustainable investment and long-term growth to safeguard their future.
  7. Featuring ample greenery, the ground floor of ERA APAC Centre provides a creative, conducive, and collaborative work space for its network of trusted advisers. It is named Everyday @ ERA, a tangible vision of the company to create a place to work, learn and nurture the OneERA spirit everyday amongst ERA trusted advisers.


CONSTANT DEVELOPMENT OF EVOLUTIONARY SOLUTIONS FOR BETTER EFFECIENCY

ERA continues to build stronger digital capabilities to mitigate risks, seize new opportunities and gain competitive advantage for its network of trusted advisers and clients. The company releases the 0.4 version of its RealtyWatch mobile app, highlighting the following new features:

  • To address the current challenges faced by tenants when locating the right home, ERA will be introducing a game-changing innovation – Real-time Rental Home Finder. Utilising 50 millions data points, the Rental Home Finder is an integration of public transport directory and home search platform, allowing tenants to find properties based on public transport routes (Train and Bus) that match their budget.
  • Integration of OneMap3D which allows users to experience a richer view of the surroundings of a particular property and shadow casting according to different time of a day for a particular property, as well as other useful capabilities such as location-based information, navigational services, and the use of open-source technologies.

These will value-add its salient features including 24/7 notifications on neighbourhood property transactions, comprehensive property calculators, intelligent property portfolios personalised by Robo Advisor, generating instant estimated valuations of properties, instant search of new launch homes with real-time availability, and viewing of up-to-date mortgage packages from major banks. Individuals can download RealtyWatch Mobile App on the App Store; or get it on Google Play.

 

Collaboration is a key success factor when it comes to sustainability. With that in mind, ERA has collaborated with leaders from various sectors, such as Redbrick, EdgeProp, EcoProp and Singapore Land Authority, since July this year to build an integrated and sustainable digital ecosystem for the benefits of real estate trusted advisers and the community. 

 

The company will also be signing an MOU with Endowus, the country’s first and only digital advisor for CPF, SRS and cash savings, to further consumer literacy on real estate progression and wealth planning.

 

Appendix A:

List of Esteemed Patrons Contributing to the Initial ESG Fundraising of S$231,000

 

  1. Jack Chua, Executive Chairman
  2. Marcus Chu, CEO
  3. Doris Ong, Deputy CEO
  4. Thomas Tan, COO, Agency Business
  5. Eugene Lim, Key Executive Officer
  6. Kevin Lim, Chief Agency Director
  7. Chris Chen, Advisory Group Division Director
  8. Eugene Koh, Advisory Group Division Director
  9. Kavin Kuah, Branch Division Director
  10. Lynn Er, Branch Division Director
  11. Liu Ming, Associate Division Director
  12. Gina Tng, Division Director
  13. Kane Seow, Branch Division Director
  14. Eric Goh, Branch Division Director
  15. Tiger Ng, Senior Group Division Director
  16. Dulcie Liu, Branch Division Director
  17. Bryan Setho, Senior Division Director
  18. Zac Huang, Advisory Group Division Director
  19. Alex Lim, Advisory Group Division Director
  20. Alicia Yang, Group Division Director
  21. Kelvin Neo, Senior Group Division Director

About ERA Singapore

ERA Singapore is the largest international agency in Singapore and has been setting and redefining industry standards through the pioneering of real estate concepts, technologies, initiatives and services since its inception in 1982.

As a wholly-owned subsidiary of SGX mainboard listed APAC Realty Limited, ERA Asia Pacific is on track to reach 20,000 trusted advisers this year across 10 countries: Singapore, Cambodia, China, Indonesia, Japan, Malaysia, South Korea, Taiwan, Thailand and Vietnam.

In Singapore, we provide a diverse range of professional services and solutions for: Private and HDB residential resale, residential leasing, project marketing, commercial and industrial, property management, auction, valuation and research.

Through Ultimate Agent Training Programme, a series of specially-curated training courses developed for ERA trusted advisers, they are able to revolutionise their skills, equip themselves with the latest trends and insights of the property market, and stay ahead of the competition. With close to four decades of experience, extensive network and innovative technological tools, the company has secured innumerable dream homes for its customers in Singapore and around the world.

Recent accolades are testaments to the company’s diligence – ERA Singapore was the first and only agency awarded the 5-Star Best Real Estate Agency (Single Office) in Singapore by Asia Pacific Property Awards; Singapore’s Most Trusted Brands by Asia Reader’s Digest; Top Property Agency by Influential Brands; Most Innovative Real Estate Agency by SBR Listed Companies Awards; Favourite Real Estate Agent (Gold) Award by Expat Living Readers’ Choice Awards; Marketing Agency Excellence Award at EdgeProp Singapore Excellence Awards; and Best Luxury Real Estate Brokerage in Singapore by Luxury Lifestyle Awards.

For more information, visit https://www.era.com.sg

#ERASingapore

Meteorite Quantification Platform —— The Best Way to Manage Crypto Assets

SINGAPORE – Media OutReach – 11 November 2021 – On the evening of November 3, a private research and analysis meeting on “Crypto Asset Allocation” hosted by BAF Capita. This private meeting brought together a number of industry elites, who focused on the current crypto industry and discussed in depth how to better manage crypto assets. Aaron, the founder of Meteorite Quantitative, was invited to this conference as a key guest and brought a wonderful exchange.

According to Aaron, quantitative trading using computer technology to select a variety of “high probability” events that can bring excess returns from huge historical data to formulate strategies by writing software programs, monitoring market transactions in real time, and setting some conditions. When the market transactions meet these conditions, some operations are executed automatically, such as buying, selling, etc. This can greatly reduce the impact of investor sentiment fluctuations and avoid making irrational investment decisions when the market is extremely fanatic or pessimistic.

Blockchain has developed rapidly in the last two years, and countless legends have been born. In this mysterious world where new paths are constantly being broken, a brand new force is gradually being accepted and recognized by people. This is quantitative trading.

Nika, the CIO of Meteorite, said: “Meteorite is a decentralized quantitative platform that supports a variety of quantitative strategies for digital assets, simplifying the threshold for users to participate in quantitative investment. Meteorite combines traditional CeFi and innovative DeFi mechanisms, uses GameFi, NFT and token ecology to bring together quantitative blockchain strategists and strategic users, and executes decentralized governance in the form of DAO.”

“For quantitative trading, high-quality strategies are a top priority. However, along with the chaos on the platform, there is also the problem of strategists. ” Nika added.

Although some strategies offered by so-called strategists in the market promise high returns and low risks, they have some credit problems. For example, strategists and propagandists exaggerate or even falsify the effect of the strategy, and some strategies use future factors that are over-adjusted and do not match the real data. If there is a lack of long-term real data, the strategy may only fit the market in the short term. Before using the strategy, it is extremely difficult for users to perform risk assessment and risk control.

According to the whitepaper, the Meteorite platform pre-screens all strategies provided by strategists to verify the reliability of the strategy. Strategists must provide at least 18 months of historical data on the exchange. If the pre-screening is passed, a proposed listing strategy can be put to a vote.

Meteorite relies on solid strategic data and will build the first Big Data platform in quantitative trading in the future, contributing to the long-term development of the entire quantitative trading industry and promoting the industry. This is the mission of Meteorite.

At present, Meteorite platform has completed the institutional funding round, and the development of the global community such as Malaysia has begun to show a spark. Quantitative trading must be the most suitable way to manage encrypted assets in the future, and Meteorite Platform has taken on the important task of this era, trying to make quantitative trading accessible to more people in need.

About Meteorite

Meteorite is a platform for testing quantitative strategies based on encrypted assets.
Meteorite is a bridge of trust between high quality users and top quantitative teams.
Meteorite is a platform for Big Data analytics services in and out of the retail chain.
Meteorite is a parallel space created by combining NFT, GameFi and CeDeFi.

For more details, please visit https://www.mte.cool/

#Meteorite

Third Quarter 2021 Citi Residential Property Ownership Survey

Less respondents expect an increase in property prices

The average age of first-time home buyers is 31

HONG KONG SAR – Media OutReach – 11 November 2021 – Citi Hong Kong conducted a survey in September 2021 on residential property ownership in Q3 2021. According to the survey results:

  • 38% of the respondents expected property prices to rise further in the coming year, a lower percentage compared with the previous quarter but higher than the level recorded in the same period last year.
  • 4% of the respondents considered that it was a good time to buy a property, a figure easing back to pre-pandemic levels and down from the previous quarter and the same period last year.
  • 13% of the respondents expressed interest in property ownership, similar to previous quarter. Based on the survey results, close to 320,000 people toured new home developments in August or September this year.
  • Young respondents aged 21 to 24 expressed the highest interest in home ownership, with the average age of first-time buyers being 31.
  • On average, the respondents considered HK$5.8 million to be the price of a property that can meet their accommodation needs, double the price of HK$2.7 million estimated 10 years ago.
  • Nearly 60% of the respondents who have purchased a residential property in the past 10 years made their purchase decision after touring five properties, and a similar percentage of respondents decided to buy a property within three months after touring the first property that came their way. Those who purchased a home 10 years ago found making a home-buying decision easier than their counterparts in recent years.
  • Nearly 70% of the respondents who managed to buy a home in the past 10 years did so with financial support from their family, a higher figure compared with a decade ago. At an average of HK$1.86 million, the amount of financial assistance from family was also higher compared with 10 years ago.

 

Nearly 40% of respondents expect property prices to rise in the coming year, and it’s estimated that close to 320,000 people visiting properties in August or September this year

Compared with the exceptionally strong positive sentiment seen in the previous quarter, a lower level of optimism about the housing market was recorded in Q3 2021, with 38% of the respondents expecting a rise in property prices in the coming year. However, an average of 42% of respondents expected property prices to rise for the whole year of 2021, a higher percentage compared with an average of 23% recorded in the previous year. However, the percentage of respondents considering it “a good time to purchase a home now” and expressing “interest in purchasing a property” – both being indicators of the public’s attitude towards the property market – eased back slightly. In Q3 2021, 4% of the respondents considered now a good time to buy a property, down from the previous quarter and the same period last year. On the other hand, 13% of the respondents expressed interest in buying a home, representing a slight decrease of 1% from the previous quarter. Estimated based on the survey results, approximately 317,000 people conducted property hunting in August or September this year. The overall percentage of respondents expressing optimism about the property market fell from the previous quarter, reflecting a wait-and-see attitude among the respondents towards home ownership.

 

Driven by earlier expectations of an easing pandemic and a reopening of the economy, property owners may have proceeded with buying property early, contributing to a particularly positive outlook for the property market among the respondents in the previous quarter. The property market may have experienced readjustment this quarter, after seeing a premature release of the local population’s purchasing power, and the transaction volume may drop. In view of the temporary impact of other macro factors, including uncertainty in recent stock market sentiment and wealth effect, citizens’ property market outlook may be affected in the short run. That said, the local property market remains supported by positive structural factors such as undersupply and long-term economic growth upon border reopening.

 

Average age of first-time home buyers is 31, with an estimate of HK$5.8 million as the average price of a property meeting respondents’ accommodation needs

 

The survey also explored the views and experiences of the respondents regarding home ownership. It was found that young respondents aged 21 to 24 were most interested in home ownership, with the average age of first-time buyers being 31. The respondents put the average price of a property that can meet their accommodation needs at HK$5.8 million, 115% higher than the price of HK$2.7 million estimated 10 years ago, reflecting the rising trend of property prices during this period. Respondents who bought a home 10 years ago found it easier to make a purchase decision compared with their counterparts during recent years. 58% of the respondents who bought a home in recent years made their purchase decision after touring five properties , and 58% of the respondents decided to buy a property within three months after touring the first property that came their way. 70% of the respondents who bought a home 10 years ago made their buying decision after touring five properties, and 68% made their purchase decision within three months after touring the first property that came their way. On the other hand, 67% of the respondents who managed to purchase a home for the first time in the past 10 years said they did so with financial support from family, a figure that is 15 percentage points higher compared with 10 years ago. The amount of family assistance has also increased from an average of HK$500,000 a decade ago to the current HK$1.86 million.

How do you think home prices will trend in the next 12 months?

Percentage of Respondents

 

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Q3 2021

Upward

23%

22%

33%

54%

38%

Flat

34%

43%

47%

35%

37%

Downward

43%

36%

20%

12%

25%

If you do not own any property now, taking your current standard of living and family finances into consideration, do you think it is a good time to purchase a home now?

Percentage of Respondents

 

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Q3 2021

A good/an excellent

time to purchase

10%

8%

7%

7%

4%

Neutral

36%

39%

37%

38%

41%

A bad/terrible

time to purchase

54%

54%

56%

55%

55%

How interested are you in purchasing a property now?

Percentage of Respondents

 

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Q3 2021

Very/rather
interested

17%

17%

17%

14%

13%

Neutral

28%

27%

29%

28%

33%

Very/rather
uninterested

55%

56%

54%

58%

54%

“The survey results show that local citizens were holding a wait-and-see attitude towards the property market in Q3 2021,” said Josephine Lee, Head of Retail Bank at Citi Hong Kong. “Nearly 40% of the respondents expected property prices to rise in the coming year. The percentage of respondents who considered it a good time to buy a property has slightly decreased from the previous quarter, and the proportion of respondents expressing interest in buying a property has also dropped a bit from the previous quarter. The younger respondents were more interested in buying a property, with the average age of first-time buyers being 31. The price of a property the respondents considered suitable to meet their accommodation needs has doubled in 10 years. We recommend that young people interested in buying a property start reviewing their asset allocation as soon as possible, accumulating their wealth and gradually becoming empowered to realise their aspirations in home buying. Other potential homeowners should also assess their financial condition comprehensively and seek an appropriate mortgage plan to fulfil their dream of home ownership.”

 

Citibank commissioned the University of Hong Kong Social Sciences Research Centre to conduct the survey, interviewing a random sample of more than 500 Hong Kong respondents by phone in September 2021. Since 2010, Citibank has been conducting quarterly surveys on the Hong Kong housing market to assess the current state of home ownership in the SAR, gauge public intentions towards home ownership, and track public expectations of future housing price trends.

Source: Citibank Q3 2021 Residential Property Ownership Survey

Please download the Mortgage Survey Press Conference Photo Here.


About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

#Citi

Appier’s ascent accelerates in Q3 with revenue up 50% to a record high and revises full-year forecast second quarter in a row

Strong revenue and profit growth follows a strong second quarter and underscores demand for AI solutions that deliver holistic customer insights

Highlights in the third quarter of fiscal 2021 include:

  • FY forecast revised 5.5% upwards from 11.7 billion JPY to 12.3 billion JPY
  • YoY revenue up 50% to historical high of 3.2 billion JPY
  • EBITDA margin turns positive for full quarter for the first time in company history, up 16 percentage points YoY
  • Gross profit up 62% YoY
  • Annual recurring revenue (ARR) up 48% YoY
  • Operating income margin improvement of 14 percentage points YoY
  • Quarter-on-quarter customer growth of 7.7% with a historical high of newly added customers


New quarter, new record

TAIPEI, TAIWAN – Media OutReach – 11 November 2021 – Appier Group Inc (TSE: 4180), henceforth referred to as Appier, today announced its Q3 earnings results for its third quarter ended 30 September 2021. The period shows a continuation of the strong post-IPO trajectory reported for Q2 in August. Revenue reached a record high of 3.2 billion yen, repeating the 50% year-on-year (YoY) increase seen in Q2 despite a much higher base in Q3 2020. Gross profit outpaced revenue growth to increase by 62% YoY. This was due in part to a gross margin increase from 46% to 50%, and in part to revenue growth acceleration. Demand from sectors such as e-commerce for AI-enabled customer insights, and for tools to support transformation from businesses in a wide range of industries, helped to fuel growth.

 

Annual recurring revenue (ARR) climbed 48% to 11.7 billion yen. Appier’s earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose 16 percentage points to achieve profitability for the first time in Appier’s history with a two percent margin. Accelerated revenue growth was again a driver, together with strong operating leverage. Operating income margin improved 14 percentage points YoY. The results mean Appier has overachieved on more than 10% of its business goals and is increasing its forecast from 11.7 billion yen to 12.3 billion yen.

 

“We are extremely proud of our achievements this quarter, especially our  50% revenue growth on a much higher comparative quarter,” said Dr. Chih-Han Yu, Appier’s CEO and co-founder. “Our growth this quarter can be attributed to clarity of purpose and goals. Supporting our customers on their AI-enabled digital transformation journey continues to be a driving force for Appier. Our solutions have transformed industry trends into a tailwind and accelerated our growth. We have demonstrated that we help our customers comply with third party data restrictions as well as achieve their business goals with superior AI technologies. At Appier, our solutions mainly require first-party data and have demonstrated its value to our customers, as reflected by this quarter’s results. This creates a sustainable business model for us to continue supporting our customers’ growth.”

 

As our relationships with customers grow, so does the impact of our services on their business. Our momentum is also down to changing business needs, the growth of data-led consumer experiences, the industry’s move towards a privacy-first landscape and the recognition that AI-powered digitalization will be a key enabler of business success post-pandemic.

Adoption of AI solutions deepens

 

This quarter’s strong performance reflects the growth of the industry and the demand for AI-powered digital transformation among our customers. This expansion of relationships reflects Appier’s commitment to customer growth and ethos of growing in line with the businesses it serves.

 

The rate of net new customers rose 7.7% quarter-on-quarter (QoQ), the highest organic incremental increase yet, and 28.6% YoY. In terms of business sectors driving growth, e-commerce continued to show strong demand, together with businesses in more traditional areas undergoing transformation and looking to strengthen their ability to connect with consumers in a digital-led environment.

 

Customers in Northeast Asia continued to account for the largest share of global revenue at 64%, followed by Greater China (26%), Southeast Asia (7%) and other markets (3%), mostly from the US. Having entered the US in Q4 2020, Appier is finding traction in the market and expects business to grow steadily based on the ongoing global demand for AI and in particular AI that is readily applicable to business objectives.

 

Integration of services drives value

 

Last quarter, Appier noted the importance of conversational commerce in business and in its own future development. Since the acquisition of BotBonnie, an omnichannel chatbot platform in May, Appier has integrated BotBonnie with its AI solutions and has created cross-product synergies with AIQUA to unify cross-channel structured behavior data and unstructured conversational data. This means Appier is able to capture both web and conversational data to deliver even more relevant and personalized messages to users, driving the prospect of conversion, improving engagement and achieving greater campaign results.

 

Appier’s solutions are designed to make it easy for companies to apply AI technology to make precise, data-driven decisions, overcome business challenges and achieve growth. AIXON, a first-party-data centric data science platform, is able to unify fragmented data sets with advanced AI technology to build a holistic view of the users across multiple first party data sources. Powered by the scenario-based prediction with AutoML models, AIXON allows clients to successfully unify their first party data from multiple sources, enrich their understanding via AI inferences and predict their future behaviors through AutoML in real time, from churn to conversions and even the likelihood of users visiting a certain webpage or more unknown user affinities.

 

Appier sees the combined effect of its network of services continuing to drive value. As businesses place emphasis on achieving a complete view of their customers, Appier’s multiple, complementary solutions become increasingly important in the new normal.

 

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