The World Bank and the Government of Laos have agreed to scale up a Competitiveness and Trade Project that will assist businesses in Covid-19 recovery.
Ev Dynamics Delivers Over 70 Electric Minibuses to the Philippines
HONG KONG SAR – Media OutReach – 19 October 2021 – Ev Dynamics (Holdings) Limited (the “Company”, Stock Code: 476, together with its subsidiaries, collectively “Ev Dynamics” or the “Group”), a provider of new energy vehicles and integrated technology solutions, has already delivered over 70 units of 6.5-meter COMET electric minibuses to the Philippines.
Ev Dynamics’ Chongqing plant is at full steam to meet increasing overseas order volumes
Ev Dynamics will provide not less than 500 units of the 6.5-meter COMET electric minibus to the Philippines and Malaysia by March 2023
Ev Dynamics is fully armed to complete sales orders from the Philippines and overseas markets
The delivery is part of the long-term supply agreement signed in March 2021 between the Company and GET Worldwide Inc. (“GET Worldwide”), following the first batch of COMET electric minibuses supplied to Metro Manila and Davao, the Philippines in December 2020. Under the supply agreement, the Company will provide GET Worldwide no fewer than 500 vehicle units within 24 months from the effective date of the agreement. The electric vehicles will be mainly used in the Philippines and Malaysia.
Freddie Tinga, CEO of GET Worldwide, said: “The Philippines alone could have a demand of at least 100,000 units of this type of vehicle. We have to replace over 300,000 old gasoline mini-buses (Jeepneys).”
Miguel Valldecabres Polop, CEO of Ev Dynamics, said: “Our production plant in Chongqing, which boasts sufficient capacity and advanced technologies, has been operating at full steam to meet the increasing volume of overseas orders. Though our production schedule and fulfilment of orders have been interrupted by the COVID-19 pandemic, our output has been picking up steadily thanks to the reliable supply chains in the PRC. We are confident that we can complete the sales orders from the Philippines and other orders for e-platforms and e-buses elsewhere overseas. The future is very promising for our Company.”
John Ma, COO of Ev Dynamics, said: “The COMET is the outcome of 3 years of hard development of our R&D team. The task was to create a vehicle with a very low cost and top technology. The COMET has a complete powertrain developed by the Company and most important the VCU (Vehicle Control Unit) or the brain that operates the complete bus.”
For the European market, the Company’s 12-meter E-Bus model has passed the homologation tests of the Economic Commission of Europe. Leveraging the business network and experience of strategic partner Quantron AG, the Group believes the high-performing and environmentally friendly bus will be welcomed in the European market as a solution to replace diesel buses currently in use.
In addition, the Group has secured a sizable order for 12-meter e-platforms and 12-meter city buses from Latin America.
About Ev Dynamics (Holdings) Limited (Stock Code: 476)
Ev Dynamics (Holdings) Limited is a pioneer and a prominent player in China’s new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power systems and their key components. The Group has a production base in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America.
#EvDynamics
Cheng & Cheng Taxation Reveals How Hong Kong Can Help Avoid Double Taxation in Cross-Border Business
HONG KONG SAR – Media OutReach – 19 October 2021 – Transfer pricing and foreign withholding tax are generally the two most important tax considerations when making outbound investments and engaging in cross-border business. While the new Hong Kong transfer pricing law has been covered in August 2020 (https://henrykwongtax.com/article/hong-kong-codification-of-transfer-pricing-law/), Cheng & Cheng Taxation Services Limited (“Cheng & Cheng’s Taxation”) will further reveal how a Hong Kong company can help multinational corporations (MNCs) reduce their double taxation risk and thus the overall effective tax rate, with the below discussion areas:
- Special features of the Hong Kong taxation system,
- inbound investment into Mainland China and other Asian countries,
- three examples of how Hong Kong can reduce foreign withholding tax and double taxation risk when doing business in Asia and
- how to apply for a Hong Kong Tax Residency Certificate
A three-minute video relating to each discussion area have been prepared for the better understanding of the issues. Please refer to this link (https://henrykwongtax.com/home/trc-videos/) to access to the videos.
Special features of the Hong Kong taxation system
Hong Kong is a popular jurisdiction for investment holding companies and intra-group trading companies.
Most MNCs have set up companies and maintain small-scale operations in Hong Kong even though Hong Kong is not their major market in Asia. Here the explanation of the rationale.
Local tax law
- Dividend income and capital gains are taxed at a 0% tax rate in Hong Kong;
- No withholding tax on dividends, interest, service income or trading profits are imposed in Hong Kong. Only royalties are subject to withholding tax and a low tax rate of 2.475% to 4.95% will usually apply;
- Hong Kong profits tax (corporation) and salaries tax (individual) are among the lowest rates globally, with maximum tax rates set at 16.5% and 15%, respectively. For the first HK$2 million of profits, a half tax rate of 8.25% applies to a Hong Kong corporation.
Hong Kong adopts the territorial concept, rather than the worldwide taxation system. Generally, only Hong Kong–sourced profits are subject to tax in Hong Kong. This is one of the most effective ways of avoiding double taxation if the operations of the Hong Kong based company are principally performed outside Hong Kong and foreign tax has been paid.
International presence
Hong Kong has an extensive Comprehensive Double Taxation Agreement (DTA) network with Asian countries. A total of 45 jurisdictions have already entered into DTAs with Hong Kong. A full list of DTA partners can be found on our website: (https://henrykwongtax.com/home/hong-kong-tax-treaty-network/)
Unlike offshore jurisdictions, such as the British Virgin Islands, Hong Kong is located in the heart of Asia and offers an abundance of finance and trade support professionals. Setting up substance in Hong Kong to fulfil the latest international tax requirements is relatively simple and convenient.
For these reasons, Hong Kong is the first place to consider when an MNC expands into Asia, in particular into Mainland China.
Inbound investment into Mainland China and other Asian countries
Hong Kong is a good platform for an MNC to invest in Mainland China.
As a general rule, an MNC would either set up a subsidiary, namely a wholly foreign- owned enterprise (WFOE), or a representative office (RO) in Mainland China. Here Cheng & Cheng’s Taxation will explain how a Hong Kong entity can help reduce overall tax liabilities.
Subsidiary: Wholly foreign-owned enterprise
When an MNC plans to establish production bases or trade with customers in Mainland China, it would normally set up a WFOE there because of that country’s VAT tax system.
Typically, a Hong Kong intermediate holding company will be set up to invest in the WFOE in Mainland China, for the following reasons:
- Dividends, interest and royalties paid to non-residents of Mainland China are generally subject to 10% withholding tax in that country. If the recipient is a Hong Kong tax resident, the withholding tax can be reduced to between 5% and 7% under the Double Taxation Agreement (DTA) between Mainland China and Hong Kong;
- Mainland China offers preferential treatment to Hong Kong taxpayers under the DTA benefits;
- As Hong Kong is part of the Greater Bay Area, it is relatively easy to set up substance in Hong Kong to support operations in Mainland China;
- As mentioned above, Hong Kong does not impose tax on dividend income or capital gains. There is also no withholding tax on dividends.
Representative office
When an MNC wants to set up a client liaison or back office in Mainland China, they could invest in the form of a representative office (RO). An RO is not expected to derive any income and is not a separate legal entity. Using a Hong Kong headquarters to install an RO in Mainland China is a reasonable option.
Despite the fact that it is a cost centre, an RO in Mainland China is still required to pay corporate income tax based on a deemed profits ratio. As such, double taxation issues may arise.
As Hong Kong and Mainland China are DTA partners, Both a tax deduction on RO expenses and a tax credit can be claimed to offset Hong Kong profits tax liabilities, provided that the Mainland China RO assists in the operations of the Hong Kong entity. This is an effective way to avoid double taxation in Hong Kong and Mainland China.
Doing business in Asia: Reduction of foreign withholding tax
Hong Kong is in a good position to reduce foreign withholding tax in Asia as Hong Kong has entered into DTAs with most Asian countries.
Apart from Mainland China, other developing countries in Asia such as India and Indonesia are also attracting MNCs due to their rapid economic growth. However, the problem is that, without a Double Taxation Agreement (DTA), withholding tax on income repatriated from these countries is generally very high.
With years of experience, Cheng & Cheng’s Taxation identified three common scenarios in which a Hong Kong tax resident can help reduce foreign tax liabilities.
Scenario 1: Service fee arrangements
Take a service provider in Hong Kong, maintaining several clients in Indonesia as an example. Many Hong Kong companies are unaware that they have paid withholding tax in Indonesia on their service income, since their foreign clients typically settle the tax liabilities on their behalf.
A Hong Kong company can help reduce their Indonesian withholding tax on service income if it can present a Tax Residency Certificate (TRC) to the Indonesian Government. Normally, the withholding tax of 20% can be reduced to between 5% and 10%.
Further, a tax credit is available against the Indonesian withholding tax paid to offset Hong Kong profits tax liabilities. As such, with proper tax planning, the double taxation issue should not arise.
Last but not least, similar arrangements can also be applied to other Asian countries, including India and Malaysia.
Scenario 2: Loan financing arrangements
This scenario uses a company making interest-bearing loans to its group company in Japan as an example. In Japan, interest paid by a Japanese company to non-residents of Japan is generally subject to 20% withholding tax. Under the DTA between Hong Kong and Japan, the withholding tax rate can be reduced from 20% to 10%.
As well as the tax credit method mentioned above, double taxation issues may also be resolved by pursuing an offshore claim on interest income in Hong Kong. Under the provision of credit test, interest income on loans first made available to the borrower outside Hong Kong could be offshore sourced and non-taxable under Hong Kong profits tax.
As most countries in Asia charge withholding tax on interest paid to non-residents, a TRC can generally help in most of the loan arrangements.
Scenario 3: Royalty arrangements
Royalty arrangements are common among Western brand owners when they cooperate with Asian business partners to expand into the Asian market. This can involve franchise arrangements, sales of branded products, and game licensing arrangements.
More importantly, MNCs appear more eager to enter into royalty arrangements with Hong Kong entities of their Asian partners, especially when dealing with countries that have a foreign exchange control system such as in Mainland China. An MNC may request that their Asian partner establishes a Hong Kong entity to pay their royalties, which can lead to a significant income and expense mismatch as the income is earned by Mainland China or other Asian entity, while the royalty expenses are borne by the Hong Kong entity. Income and expense mismatches without thorough group recharge arrangements will lead to significant tax inefficiencies and risk.
Similar to interest income, royalties are subject to withholding tax in most Asian countries. Hong Kong also imposes a royalty withholding tax but, based on our experience, the withholding tax can be used to offset the corporate income tax of the recipients in their respective Western countries. However, it is important to examine the relevant tax administrative procedures in Hong Kong.
As royalty arrangements are generally very complex, it is important to look for a tax partner with international tax experience in order to plan ahead effectively.
How to apply for a Hong Kong Tax Residency Certificate
In above discussion, becoming a Hong Kong tax resident and obtaining a Tax Residency Certificate (TRC) is an important part of international tax planning. Having said that, not every Hong Kong company is a Hong Kong tax resident.
In order to obtain a TRC, a company has to exercise its management and control in Hong Kong. There are no specific requirements set out by the Hong Kong Inland Revenue Department (IRD), but in general, the IRD expects a Hong Kong tax resident to maintain a Hong Kong–based director and staff, as well as an office located in Hong Kong.
As the IRD is getting more stringent about issuing TRCs, it is important to seek professional advice from tax advisor before making application.
For more details of the TRC application process, please visit our website at (https://henrykwongtax.com/home/our-services/hong-kong-tax-residency-certificate/).
About Cheng & Cheng Taxation Services Limited
Cheng & Cheng is one of the top 20 accounting firms in Hong Kong, with over 300 staff in Hong Kong and Mainland China. We are the principal auditor for 20 listed corporations in Hong Kong and the tax advisor for over 80. We specialise in providing Hong Kong, Mainland China and international tax advisory services, as well as transfer pricing services to international clients. If you would like to know more about applying for a Tax Residency Certificate in Hong Kong, or seek tax advice from our tax experts, please do not hesitate to contact us by email (henry.kwong@chengtax.com.hk) or phone (+ 852 3962 0114).
#Cheng&ChengTaxationServices
Sunlight Real Estate Investment Trust Operational Statistics for the First Quarter of the Financial Year 2021/22
HONG KONG SAR – Media OutReach – 19 October 2021 – Henderson Sunlight Asset Management Limited (the “Manager“), as manager of Sunlight Real Estate Investment Trust (“Sunlight REIT“), announces the operational statistics of Sunlight REIT for the first quarter of the financial year 2021/22.
At 30 September 2021, the overall portfolio occupancy rate of Sunlight REIT was 93.8% (30 June 2021: 93.7%). Office occupancy rate slightly improved to 93.1% (30 June 2021: 92.4%), while retail occupancy rate registered a mild decline to 95.3% as compared to 96.5% at 30 June 2021.
The overall passing rent of Sunlight REIT’s portfolio was HK$46.8 per sq. ft. at 30 September 2021, down 1.9% from the last quarter. Reflecting the lingering impact of COVID-19, office and retail portfolios recorded negative rental reversions of 5.3% and 5.4% respectively.
Occupancy rate of Dah Sing Financial Centre stood at 88.5% (30 June 2021: 88.3%), while demand for certain Grade B office properties continued to recover, as evidenced by the improvement in occupancy rates of 235 Wing Lok Street Trade Centre and Java Road 108 Commercial Centre to 94.1% and 98.1% respectively. On the Kowloon side, The Harvest and Righteous Centre were almost fully let at 30 September 2021; however, vacancy rate of The Harvest is expected to increase by December 2021 as its core retail tenant has decided not to renew its tenancy upon expiry.
On the retail front, the occupancy rates of Sheung Shui Centre Shopping Arcade and Metro City Phase I Property at 30 September 2021 were 94.1% and 95.4% respectively, while their corresponding passing rents were HK$101.6 per sq. ft. and HK$56.0 per sq. ft..
Remarks: Attached operational statistics of Sunlight REIT for the first quarter of the financial year 2021/22.
Operational statistics for the first quarter of the financial year 2021/22
Property |
Location |
Occupancy Rate (%) 1 |
Passing Rent (HK$/sq. ft.) 2 |
||
|
|
at 30 Sep 21 |
at 30 Jun 21 |
at 30 Sep 21 |
at 30 Jun 21 |
Office |
|
|
|
|
|
Dah Sing Financial Centre |
Wan Chai |
88.5 |
88.3 |
43.5 |
44.0 |
Strand 50 |
Sheung Wan |
95.3 |
95.8 |
32.1 |
32.1 |
The Harvest |
Mong Kok |
100.0 |
100.0 |
53.0 |
53.2 |
135 Bonham Strand Trade Centre Property |
Sheung Wan |
92.5 |
93.1 |
27.8 |
27.9 |
Winsome House Property |
Central |
100.0 |
94.3 |
39.7 |
42.7 |
Righteous Centre |
Mong Kok |
99.3 |
100.0 |
33.7 |
33.9 |
235 Wing Lok Street Trade Centre |
Sheung Wan |
94.1 |
88.6 |
20.4 |
20.9 |
Java Road 108 Commercial Centre |
North Point |
98.1 |
96.1 |
24.9 |
24.9 |
On Loong Commercial Building |
Wan Chai |
100.0 |
100.0 |
30.5 |
31.2 |
Sun Fai Commercial Centre Property |
Mong Kok |
100.0 |
100.0 |
21.7 |
21.7 |
Wai Ching Commercial Building Property |
Yau Ma Tei |
94.5 |
91.7 |
17.2 |
17.4 |
Average |
|
93.1 |
92.4 |
36.3 |
36.7 |
|
|
|
|
|
|
Retail |
|
|
|
|
|
Sheung Shui Centre Shopping Arcade |
Sheung Shui |
94.1 |
95.3 |
101.6 |
104.2 |
Metro City Phase I Property |
Tseung Kwan O |
95.4 |
97.6 |
56.0 |
56.7 |
Kwong Wah Plaza Property |
Yuen Long |
98.5 |
97.7 |
53.1 |
53.5 |
Beverley Commercial Centre Property |
Tsim Sha Tsui |
81.9 |
77.5 |
31.9 |
32.8 |
Supernova Stand Property |
North Point |
100.0 |
100.0 |
57.2 |
57.2 |
Average |
|
95.3 |
96.5 |
69.1 |
70.4 |
Average |
|
93.8 |
93.7 |
46.8 |
47.7 |
Notes:
1. Calculated on the basis of occupied gross rentable area (“GRA“) as a proportion of total GRA on the relevant date.
2. Calculated on the basis of average rent per sq. ft. for occupied GRA on the relevant date.
About Sunlight REIT
Sunlight REIT (Stock code: 435) is a real estate investment trust authorized by the Securities and Futures Commission, and constituted by the amended and restated trust deed dated 10 May 2021 (the “Trust Deed“), and has been listed on The Stock Exchange of Hong Kong Limited on 21 December 2006. Sunlight REIT offers investors the opportunity to invest in a diversified portfolio of 11 office and five retail properties in Hong Kong with a total gross rentable area of over 1.2 million sq. ft.. The office properties are primarily located in core business areas, including Wan Chai and Sheung Wan, as well as in decentralized business areas such as Mong Kok and North Point. The key retail properties are situated in regional transportation hubs and new towns including Sheung Shui, Tseung Kwan O and Yuen Long.
#SunlightREIT
About the Manager
The Manager of Sunlight REIT is an indirect wholly-owned subsidiary of Henderson Land Development Company Limited. Its main responsibility is to manage Sunlight REIT and all of its assets in accordance with the Trust Deed in the sole interest of its unitholders.
Disclaimer: The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Sunlight REIT in Hong Kong or any other jurisdiction.
Improve your home and indoor air quality this autumn: Dyson delivers scientific proof of a deep clean with laser detect technology that shows hidden dust that can cause allergies
New Dyson V12 Detect Slim™ reveals, removes and counts microscopic dust for more hygienic homes
HONG KONG SAR – Media OutReach – 19 October 2021 – In Hong Kong, the changing of the seasons may worsen allergic rhinitis and related conditions like asthma, conjunctivitis and eczema. However, for all individuals with allergies it is a year-round problem caused primarily by dust mites and other hidden allergens found in our homes.
Meanwhile, Hong Kong’s Consumption Voucher Scheme is now in its second round with all registered consumers receiving their second HK$2,000 voucher either on October 1 or November 1. To receive the final disbursement of HK$1,000, consumers must spend both their vouchers (HK$4,000) within a specified time[1]. For Hong Kong consumers who want to improve the quality of their home environment, an investment in a new Dyson vacuum cleaner home could be a good option.
Creating a more hygienic home is now made easier, with the brand-new Dyson V12 Detect Slim™ vacuum cleaner. Engineered to reveal hidden dust particles as small as 10 microns, equipped with an acoustic piezo sensor to enable scientific proof of what’s been sucked up and adjust suction power based on the volume of dust and size of particles, these new Dyson technologies redefine deep cleaning at home, all shown on an LCD screen.
Laser Dust Detection
Dyson has engineered laser dust technology to ensure you are reassured that your home has been deep cleaned. Laser Dust Detection reveals dust and debris you cannot normally see with a precisely angled laser integrated into the cleaner head.
The idea came about when a Dyson Engineer noticed that airborne particles in their home glistened in the sun. They began to research how they could take this notion and apply it to the fine dust we cannot see in our homes. The team experimented with laser lights in the lab to test how this could be achieved. For human eyes, green light is 8.5 times brighter than red or blue light, and it can provide 500 lux of ambient light. That is where a new solution was born.
PIEZO SENSOR
Understanding that now more than ever people want more hygienic homes, Dyson engineers set about developing a technology which enables the user to measure the dust it detects and then displays it on an LCD screen for real time scientific proof of a deep clean.
So, how does this work? An acoustic piezo sensor has been integrated into the vacuum. The cleaner head picks up microscopic particles, which are sized and counted up to 15,000 times a second. The dust enters the vacuum and hits the acoustic piezo sensor within the bin inlet with the tiny vibrations being converted to electrical signals. The dust size and quantity are shown on the in-built LCD screen, so the user can see how much dust the vacuum has removed, as well as the different sizes of particles and deliver scientific proof of a deep clean.
The vacuums have been designed so that they automatically increase suction power when they come across a large amount of dust. When dust levels normalise, suction power is reduced to its previous level.
ANTI-TANGLE TECHNOLOGY
Introducing a new anti-tangle Hair Screw tool: 9.4% of Hong Kong households keep dogs or cats as pets[2] and handling pet hair has become a problem for most pet owners. Dyson Engineers also looked to solve the problem of removing hair on the brush bar. This is often a challenge for many vacuums, despite claims to the contrary, so we have developed a new anti-tangle conical brush bar which spirals hair up and into the bin. This prevents the wrapping of hair around the brush bar. Designed for human and pet hair, our engineers delicately tweaked the precise angle of the bristles on the tool, to ensure the release force did not tangle the hair and tested the tool on multiple hair types.
FILTRATION
The Dyson V12 Detect Slim™ features Dyson’s 5-stage advanced filtration technologies, capturing 99.99% of particles and allergens as small as 0.3 microns, to expel cleaner air. Our Dyson Root Cyclone™ technology is efficient at separating dust and dirt from floors and surfaces without reduction in suction power.
The Dyson V12 Detect Slim™ is now available at Dyson.hk, the Dyson Demo Store at ELEMENTS and major electronics retailers, priced from HK$5,180 to HK$5,980. Buy directly from Dyson.hk for exclusive models and accessories, free next-day delivery, and auto-warranty registration.
For more information, please visit Dyson official website, https://www.dyson.hk/ or call (+852) 3065 9666/ (+852) 3008 8252.
About Dyson
Dyson is a global research and technology company with engineering, research, development, manufacturing and testing operations in Singapore, the UK, Malaysia and the Philippines. Having started in a coach house in the UK, Dyson has consistently grown since it was established in 1993. Today, it has two technology campuses in the UK spanning over 800 acres in Malmesbury and Hullavington and a global headquarters in Singapore. Dyson remains family-owned and employs over 14,000 people globally including 6,000 engineers and scientists. It sells products in 83 markets internationally.
Dyson is investing £2.75bn in the business to conceive revolutionary products and technologies. Dyson has global teams of engineers, scientists and software developers focused on the development of solid-state battery cells, high-speed electric digital motors, sensing and vision systems, robotics, machine learning technologies and A.I. investment. Since inventing the first cyclonic bagless vacuum cleaner – DC01- in 1993, Dyson has created problem solving technologies for haircare, air purification, robotics, lighting and hand drying.
The Dyson Institute of Engineering and Technology is a new model for engineering education combining the academic rigour of a traditional university with hands-on and real-world experience of working on real products and technologies inside a global technology company. Dyson undergraduates are paid a salary from day one and pay no tuition fees.
The James Dyson Foundation was founded in 2002 and the charity works internationally to empower aspiring engineers, support engineering in education and invest in medical research. The
James Dyson Award is the Foundation’s annual international design competition and is open to current and recent design and engineering students. Since starting in 2005, the Award has supported nearly 250 inventions, providing funds to support their commercialisation.
#Dyson
DFA Design for Asia Awards 2021 Winners Announcement
One of Asia’s most prestigious design awards honours three trailblazers in the world of design, and the design projects globally that have influenced and meaningful impact on Asia
HONG KONG SAR – Media OutReach – 19 October 2021 – The DFA Awards is a flagship programme of the Hong Kong Design Centre (HKDC). It is comprised of five major awards to acknowledge leaders for their outstanding contributions to the design industry and celebrate projects at the forefront of design excellence with Asian perspectives. Three trailblazers in the world of design have been awarded in 2021: Patrick Whitney, Professor in Residence of Harvard T.H.Chan School of Public Health – DFA Lifetime Achievement Award (DFA LAA), Min-Liang Tan, CEO & Co-founder of Razer Inc. – DFA Design Leadership Award (DFA DLA), and Freeman Lau, Founder of KL&K Creative Strategics – DFA World’s Outstanding Chinese Designer (DFA WOCD). In addition, 180 awards were conferred under the DFA Design for Asia Awards (DFA DFAA).
Organised by the Hong Kong Design Centre (HKDC) with Create Hong Kong (CreateHK) of the Hong Kong Special Administrative Region Government as the lead sponsor, the DFA Awards was launched in 2003 to underpin the role of designers within society, celebrate design excellence with positive influence and impacts in Asia.
Upon reflection of this year’s awards, Professor Eric Yim, Chairman of HKDC states:
“Design is a vital part of Hong Kong, a city that brings people, culture and ideas together. This is especially critical at a time when the world has witnessed so much uncertainty brought on by the pandemic. This year, I am delighted to honour three exceptional leaders: Patrick Whitney, Min-Liang Tan, and Freeman Lau, all have shown through their work, dedication and leadership how design can be used to inspire communities, unite people from all walks of life through one singularity, and contribute to the betterment of society in Asia and beyond.”
DFA Lifetime Achievement Award 2021 (DFA LAA)
Patrick Whitney – Professor in Residence, Harvard T.H.Chan School of Public Health
Patrick Whitney is the Professor in Residence of D-lab in the Harvard T.H.Chan School of Public Health, a leading laboratory that explores and demonstrates how design methods and frameworks can improve human well-being. He is widely regarded as a thought leader for pioneering the notions of human-centred design and strategic design. He is a highly esteemed speaker at multiple international design events, on topics such as innovation, sustainability and human well-being. Global Entrepreneur Magazine named him as one of 25 people worldwide contributing the most in bringing new ideas to businesses in China.
DFA Lifetime Achievement Award 2021 honours Whitney’s vast contribution to the design industry through design strategy development, education programmes, and his advisory work to governing design bodies, actively strengthening the relationship between design theory and practice.
DFA Design Leadership Award 2021 (DFA DLA)
Min-Liang Tan – CEO & Co-founder, Razer Inc.
As the pioneer of e-sports hardware, former lawyer Min-Liang Tan is seen as a trailblazer for the younger generation, of someone following their dream and at the same time adding valuable contributions to society. As CEO, Co-founder and Creative Director of the world’s leading lifestyle brand for gamers – Razer Inc., Tan has demonstrated how forward-thinking and innovative design can disrupt the gaming industry.
DFA Design Leadership Award 2021 honours his leadership throughout the years in pushing the boundaries of the gaming industry and driving industry innovation through design. Under Tan’s strategic and creative direction, Razer has gone from a two-man startup to a multinational market leader and Unicorn in the technology world.
DFA World’s Outstanding Chinese Designer 2021 (DFA WOCD)
Freeman Lau – Founder, KL&L Creative Strategics
Freeman Lau is a Hong Kong designer, renowned for his art and design innovations. He is the brains behind some of Hong Kong’s most iconic designs such as the Watson Water bottle, which earned him multiple awards. The design aesthetics and its functionality has lauded a critical breakthrough in the history of bottled water. In addition, Lau has been tirelessly promoting the development of design in Hong Kong, Greater China and Asia.
Lau’s creative prowess spans across the entire design spectrum, from graphic design, packaging design, to fine arts. His contributions are widely recognised in society His creative contributions have a significant, cultural impact in Asia, which is best demonstrated by his ‘Chairplay’ series. The series includes a range of furniture and sculptures, which has been shown worldwide at different exhibitions. The notion of Chairplay is a metaphor for the exploration of different human centric issues and is one of Lau’s signature works.
DFA World’s Outstanding Chinese Designer 2021 honours his devotion and contribution to promoting the design, creative industry and culture of Hong Kong and Asia.
DFA Design for Asia Awards 2021 (DFA DFAA)
Since its launch in 2003, the DFA Design for Asia Awards has served to celebrate design excellence and acknowledge outstanding designs with Asian perspectives. It has been a stage upon which design talents and corporations can showcase their design projects internationally. It consists of the Grand Award and Category Award. Category Award entries are recruited by open submission to one of 24 categories under four key design disciplines, namely Apparel & Accessory Design, Communication Design, Environmental Design, and Product & Industrial Design; Gold, Silver, Bronze and Merit awards are presented to the outstanding projects. Gold award winners from the Category Award and other nominated design projects will be considered for the Grand Award.
Dr Joseph Wong, Executive Director of Hong Kong Design Centre mentions that:
“Amidst the pandemic, creativity and innovation proves to be the remedy for improving our quality of life. We are pleased to award projects that meaningfully address critical issues such as humanitarian needs, environmental, cultural and sustainable development, revitalisation through technological advancements, and marriage of functionality and aesthetics.”
The Awards’ international judging panel comprises experienced design professionals and experts. Entries were judged and 180 winners through rounds of judging and deliberation were conferred. These awards include 12 Grand Awards, six Grand Award with Special Mention and 162 Gold, Silver, Bronze and Merit under the Category Award. This year, companies from Mainland China and Japan are at the top of leaderboard with 52 awards, followed by Hong Kong awardees claiming 41 awards.
For more information and the DFA Awards 2021 full list of awardees, please visit www.dfaawards.com.
About DFA Awards (www.dfaawards.com)
In 2003, the Hong Kong Design Centre launched the DFA Awards to underpin the role of designers in society, to celebrate design leadership and exemplary designs and projects with impact in Asia, as well as to recognise the rising force of emerging Hong Kong designers since 2005.
The DFA Award, through its five major award programmes, has grown in its international influence in Asia. The five award programmes include DFA Lifetime Achievement Award, DFA Design Leadership Award, DFA World’s Outstanding Chinese Designer, DFA Design for Asia Awards and DFA Hong Kong Young Design Talent Award.
#DFA
About Hong Kong Design Centre (www.hkdesigncentre.org)
Hong Kong Design Centre (HKDC) is a non-governmental organisation, and was founded in 2001 as a strategic partner of the HKSAR Government in establishing Hong Kong as an international centre of design excellence in Asia. Our public mission is to promote wider and strategic use of design and design thinking to create business value and improve societal well-being.
HKDC’s flagship programmes include Business of Design Week (BODW; since 2002) – Asia’s leading annual event on design, innovation and brands; DFA Awards (since 2003) – a well-recognised annual awards that celebrate outstanding designs with Asian perspectives; and Knowledge of Design Week (KODW; since 2006) – an annual thematic programme that gathers the global design community to explore how design can solve complex challenges of our society.
We also manage a Design Incubation Programme and Fashion Incubation Programme (since 2012 and 2016) – 2-year programmes to nurture future design and fashion entrepreneurs; and launched FASHION ASIA HONG KONG (since 2016) – an initiative combining conversations, interactions and cultural exchanges to position the city as an Asian hub for fashion trade and business development.
#HongKongDesignCentre #HKDC
About Create Hong Kong (www.createhk.gov.hk)
Create Hong Kong (CreateHK) is a dedicated agency set up by the Government of the Hong Kong Special Administrative Region in June 2009. It is under the Communications and Creative Industries Branch of the Commerce and Economic Development Bureau and dedicated to spearheading the development of creative industries in Hong Kong. Its strategic focuses are nurturing talent and facilitating start-ups, exploring markets, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community. CreateHK sponsors the Hong Kong Design Centre to organise the DFA Awards for years and other projects to promote Hong Kong design.
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organizers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Communications and Creative Industries Branch of the Commerce and Economic Development Bureau, Create Hong Kong, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
Singapore automotive solutions experts Appvantage launch digital solution to revolutionise car loan applications
SINGAPORE – Media OutReach – 19 October 2021 – Appvantage, Singapore’s leading automotive digital solutions provider, announces the full-scale offering of its Financial Loan Application (FLA) solution to Small and Medium Enterprises (SMEs) in the automotive industry to spearhead their digital presence and capabilities in auto finance.
A pioneering digital solution for auto financing, Appvantage’s FLA allows, credit agencies, financial leasing companies, and in-house finance providers to process car loan applications accurately, quickly, and securely.
As its latest addition to an arsenal of tech-led SME solutions, FLA aims to tackle the pain points faced by loan providers when processing loan applications from their dealership partners.
“One of the key issues for loans is that borrowers will need to dig up income statements, notice of assessments, employment details, and other bits and pieces of personal information. Finance providers will then need to scrutinise that data to review finance applications. With Appvantage, that’s a thing of the past.”, said Appvantage Managing Director Eng Poo Yang.
The financial leasing/ credit agency can offer a fixed or customized finance product before requesting for customer verification. Borrowers receive an SMS link to process the application by signing in to S ingpass, and using MyInfo to review and share data with the finance company.
Upon receiving the data from the customer, credit agencies can approve, reject, or re-negotiate the application before informing the dealer to follow up with the customer to complete the sales agreement.
This process ensures applications take no longer than 5 minutes, removes unnecessary paperwork, data entry errors and saves time and resources through the automation of loan applications.
Appvantage’s Finance Loan Application solution for financial leasing companies and credit agencies is now ready for product demos and onboarding trials on https://www.appvantage.co/finance-loan-application/
ABOUT Appvantage:
Founded in 2011, Appvantage is the leading digitalisation partner of Singapore’s automotive industry. To date, it has developed and deployed more than 200 customized products and cutting-edge
automotive retail solutions for clients, in over 20 countries, including Daimler, Porsche, Eurokars, and Cycle & Carriage.
#Appvantage
Three Killed in Fire at Asphalt Plant in Vientiane Capital
Three people were killed during a fire at an asphalt plant in Vientiane Capital on Thursday.