Seven provinces across Laos have now gone into lockdown following the country’s second wave of Covid-19 cases.
Vientiane Authorities Issue Extended Guidelines for Covid-19 Prevention and Control
Authorities in Vientiane Capital have issued detailed guidelines for Covid-19 measures during the lockdown.
Nanyang Gifts’ Business Operation Changes During COVID19
SINGAPORE – Media OutReach – 23 April 2021 – Nanyang Gifts has seen a change in their business operations during COVID19 in order to keep up with the challenges posed by the global pandemic. Through versatility and innovative approaches, the corporate gift supplier is introducing custom hampers and gift packs with home delivery as an alternative source of income.
On top of offering its extensive range of quality and affordable customised corporate gifts, the company has channeled their efforts to designing custom hampers and gift packs that can be delivered to homes. With this, organisations can purchase these wholesale care packs and deliver them to every of their employee’s homes, some even going up as many as 5000 pax.
As part of an industry that heavily relies on customer-facing activities, Nanyang Gifts has seen a decline in their sales. Their main business is dependent on events, such as dinner and dance, corporate trade shows and exhibitions, which have temporarily ceased during the onset of COVID19. Nanyang Gifts also faced another challenge wherein companies have slashed their budgets on corporate gifts for staffs and new hires.
The significant decrease in events, compounded by the reduced marketing budgets caused Nanyang Gift’s sales to take a prominent dip. The company recognises the need to implement a new approach to adapt to the changes. With the changes in business operation, they are able to see a significant growth in their sales and client base. As to date, their large clientele spans various industries, with some notable ones being Singapore Management University, British American Tobacco, Singapore Pools, IKEA, Motorola and many more.
For more information, please visit https://nanyanggifts.com
Ackenting Group Moves To Digitalise Its Data Amid COVID-19
SINGAPORE – Media OutReach – 23 April 2021 – Ackenting Group has announced its plans to digitalise its accounting data in the wake of the COVID-19 pandemic. This means having access to data source for employees to do their work without having to sight physical documents and compromise their performance. With the current travel restrictions, this technological solution also solves cross border consultations for its clients.
The COVID-19 crisis has also resulted in various local businesses looking to switch to more cost-efficient service providers. With Ackenting Group’s position as a mid-tier audit firm, it is able to cater to the changing market and provide cost-effective accounting services in Singapore. The onboarding of these new clients and the work from home arrangement have shaken up the way Ackenting Group operates, necessitating the integration of technology into all aspect of the company’s operations. With the pandemic pushing business consultations online, the digitalisation of Ackenting Group’s data facilitates easy sharing of documents during client meetings.
Focusing on employee welfare is part of the firm’s greater efforts to address another challenge it faces: the high turnover rate in the industry. Beyond providing digital convenience and accessibility for employees to carry out their work, Ackenting Group has also implemented various policies to retain its talents. By introducing a more work-life balance working environment and reduction in its staff’s project portfolio, the firm is looking at a 30% reduction in staff overtime. The company is also working to reward them with performance incentives and staff remuneration package that are 10-20% higher than its peers in the industry.
As numerous businesses look to embrace technology, Ackenting Group hopes its digitalisation strategy will complement its strong employee welfare policies to further develop the company’s brand in Asia. Currently, the firm has a team of over 20 professionals to provide one-stop corporate solutions including audit, bookkeeping, tax and company incorporation services. Over the years, they have achieved numerous awards, such as the Singapore Top 500 Enterprises Award 2019, and expanded their client portfolio to more than 1,000 brands.
For more information, please visit https://www.ag-singapore.com/
Ultimaker transforms into a platform business driving innovation and growth globally
New platform strategy and software plans, launched at Ultimaker Transformation Summit, leverage unique Ecosystem
SINGAPORE – Media OutReach – 23 April 2021 – Increasing volatility in global markets, driven by events such as the current pandemic, highlight the need for businesses to increase the flexibility of their operations. Some turned to 3D printing technology and solutions to stay on top of their supply chains. Ultimaker, a leader in the professional 3D printing industry, today enables companies to make the most of their operations by bundling all Ultimaker 3D printers with Ultimaker Essentials software. This gives customers one platform to fully leverage the Ultimaker Ecosystem, offering the largest diversity of products and services in the industry. Today’s announcement at the Ultimaker Transformation Summit also includes the launch of two new software subscription plans, Ultimaker Professional and Ultimaker Excellence, to help businesses globally scale and professionalize 3D printing.
The Platform
The 3D printing platform launched by Ultimaker enables the development, nurturing and orchestration of Ecosystem products and services including hardware add-ons, materials, software, and other services. To ensure the best customer experience Ultimaker will certify Ecosystem products and services that have been tested with the platform. Ultimaker will provide open interfaces, APIs and other tools for the development community and support these communities to drive further innovation and use cases. The platform focuses on the end-to-end workflows, from enabling engineers to collaborate on a design, to storing applications, and printing on demand.
Jürgen von Hollen, CEO at Ultimaker: “Ultimaker is uniquely positioned as a leader in the professional 3D printing segment, delivering both hardware and software solutions. The platform is the evolution, elevating our current capabilities and enabling our partners and diverse ecosystem to deliver a seamless, innovative, and futureproof customer experience. Our belief is that all businesses: small, medium, and large, should have the opportunity to take advantage of the platform and ecosystem. This allows them to remain flexible and productive in a volatile world.”
In line with the new strategy, Ultimaker bundles all new 3D printers with Ultimaker Essentials. For companies that wish to further scale and professionalize their 3D printing activities, Ultimaker launched two new software plans.
- Ultimaker Professional: helps professionalize 3D Printing innovation through collaboration and advanced software.
- Ultimaker Excellence: a complete and custom solution aimed at accelerating the business’ digital transformation.
The software plans include five new elements:
- Additional e-learning for all plans: Businesses can increase the success of 3D printing with new e-learning modules.
- Digital Library: A global application library, hosted in the cloud, allowing for easy collaboration and application development.
- Reporting & analytics: Users gain insight into individual printers, print fleet, projects, and applications, and access and analyze data with PowerBI. It simplifies data-driven decision-making and building a business case to show the ROI.
- Seamless CAD and platform integration: Users can directly open CAD files in Ultimaker Cura, skipping conversion to .STL. The Ultimaker Digital Factory also reduces any switching between software components.
- Expert support and full API access for Ultimaker Excellence: Users can speed up digital transformation and experience full compatibility with established processes. They can also access expert support when needed.
For more information, pricing, availability and software plan details, please visit ultimaker.com
Ultimaker
Established in 2011, Ultimaker is on a mission to accelerate the world’s transformation to flexible, empowering and sustainable solutions. 380 employees collaborate globally to deliver a platform that enables customers to take full advantage of the unique Ultimaker Ecosystem that offers the largest diversity of 3D printing products and services in the industry. Ultimaker provides a seamless integration of hardware, software and materials that simply works.
S&P and Moody’s Assign First-time “B” and “B2” Ratings respectively to Datang
HONG KONG SAR – Media OutReach – 22 April 2021 – Chinese property developer ─ Datang Group Holdings Limited (“Datang” or the “Company”; together with the subsidiaries, the “Group”; HKEx stock code: 2117) is pleased to announce that S&P Global Ratings (“S&P”) has assigned a “B” long-term issuer credit rating to the Group with a stable outlook and Moody’s Investors Service (“Moody’s) has assigned a “B2” corporate family rating to the Group with a stable outlook. These are the first-time ratings granted to the Group by authoritative international rating agencies.
S&P
S&P says the rating reflects Datang’s progress in its ambitious plan to expand beyond its home markets, transforming from a small operating scale mainly focused around lower-tier cities. The Company’s good market position and sales execution in its home market Nanning and improving geographic diversification temper its risks.
S&P forecasts Datang’s 2021 contracted sales to be RMB47 billion to RMB49 billion based on a sell-through rate of 65%-68%, in line with 66% in 2020. In S&P’s view, the Company made solid progress in contracted sales in the first quarter of 2021 because its sales of RMB93.5 billion already accounted for about 19% of its full-year estimate. As the Company increases its presence in the Yangtse River Delta, S&P expects a gradual increase in sell-through rate. S&P also believes Datang will maintain a satisfactory cash collection rate of around 90% for the next 12 months, as the company has seen a solid rebound in cash collection in the first quarter of 2021.
The stable outlook reflects S&P’s view that Datang will maintain steady sales growth, while expanding into the Yangtze River Delta region. S&P also expects the Company to sustain solid revenue growth over the next 12 months on the back of its adequate sold but unrecognized revenue.
Moody’s
Mood’s says the rating reflects the Company’s growing operating scale and good execution capability in its key markets of Guangxi and Fujian provinces. It also considers Datang’s comparable credit metrics with its B2-rated peers, as well as its adequate liquidity.
Moody’s points out that Datang has over ten years of property development experience in China with a focus on Guangxi and Fujian provinces. Solid housing demand in the key cities that the Group operates, such as Nanning and Zhangzhou will continue to support the Datang’s contracted sales. In addition, Datang has identified the Yangtse River Delta region as a strategic growth area in the coming years. The affluent economy in this region will support housing demand and thereby Datang’s sales growth.
Moody’s expects Datang’s gross contracted sales to grow by 20% and 15% in 2021 and 2022 respectively. Such solid sales will support the company’s liquidity and revenue growth in the next 12 to 18 months.
The stable rating outlook reflects Moody’s expectation that Datang will maintain sufficient balance sheet liquidity and grow its scale as planned, while maintaining a disciplined approach to land acquisitions.
Mr. Wu Di, Chairman of the Group said, “The ratings granted by S&P and Moody’s served as a proof that the Group’s efforts in improving its capital structure paid off since its listing on the Main Board of the Hong Kong Stock Exchange in December last year. We are encouraged by the capital market’s recognition of the Group’s sound business strategy and the capital market’s confidence in the Company’s improving credit profile. Looking ahead, Datang will continue to broaden financing channels of domestic and overseas capital markets, increase cooperation with financial institutions, and expand credit scale. Meanwhile, we will reasonably control the debt scale and continue to maintain a stable growth under the Three Red Lines.”
About Datang Group Holdings Limited
Datang Group Holdings Limited is a property developer in China focused on the development of residential and commercial properties in selected economic regions. Headquartered in Xiamen, the Group has expanded its business into major regions in China, including Haixi Economic Region, Beibu Gulf Region and Yangtze River Delta Region and neighboring cities, etc. As of December 31, 2020, the Group has 123 major projects in various stages of development in six large economic zones. In 2020, the Group was ranked 73th among the Top 200 Real Estate Property Developers in China in terms of contracted sales by CRIC, a real estate research institute. The Group’s shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on 11 December 2020.
Police Arrest Illegal Entrants Returning From Thailand
Authorities have arrested two Lao migrant workers attempting to illegally return to Laos from Thailand today.
CPP Investments and ESR upsize joint investment in Korea Income JV to US$1 billion
New capital will fund further opportunities in Korean logistics real estate
SEOUL, SOUTH KOREA / HONG KONG SAR – Media OutReach – 22 April 2021 – Canada Pension Plan Investment Board (“CPP Investments“) and ESR Cayman Limited (“ESR”; SEHK Stock Code: 1821) today announced an expansion of their Korea Income Joint Venture (“Korea Income JV”). CPP Investments and ESR will collectively upsize their investment in the vehicle by a further US$500 million, with CPP Investments contributing the majority of the capital. The new capital will effectively double the size of the venture to US$1 billion in total equity allocation.
The Korea Income JV was established in 2018 to focus on investments in income producing logistics assets located in major metropolitan areas of South Korea. The portfolio, which is managed by ESR Kendall Square, consisted of 12 institutional-grade modern logistics facilities with an aggregate GFA of 774,666 sqm. Six of the 12 assets were divested to ESR Kendall Square’s Korea Logistics REIT in December 2020.
Jimmy Phua, Head of Asia Real Estate at CPP Investments, said, “Korea is already one of the most developed e-commerce markets in Asia and the pandemic has accelerated the growth in the past year, further fuelling the demand for quality logistics facilities. By expanding our successful joint venture with ESR, we are able to meet the fast-growing demand and strengthen our leadership position in the market, ultimately delivering long-term value for CPP contributors and beneficiaries.”
Thomas Nam, CEO of ESR Kendall Square, ESR’s South Korean platform, remarked, “The upsize of the Korea Income JV is a reflection of the solid performance the vehicle has achieved in the past several years. The positive results demonstrate the strength of our investment strategy and asset management capability as well as the continued confidence of our long-standing capital partner, CPP Investments. The demand and long-term prospects of high quality logistics facilities continue to show stable growth, especially as e-commerce adoption and structural changes in supply chain management have been driven forward during the COVID-19 pandemic. With the increased capital commitment, we will be in an even better position to respond quickly and strategically to opportunities as they arise.”
CPP Investments and ESR have a well-established investment relationship and track record. In addition to the Korea Income JV, the two parties have collaborated on two other joint ventures focused on the Korean logistics sector since 2015.
About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2020, the Fund totalled C$475.7 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn,
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About ESR
ESR is the largest APAC focused logistics real estate platform by gross floor area (GFA) and by value of the assets owned directly and by the funds and investment vehicles it manages. Co-founded by its senior management team and Warburg Pincus, ESR and the funds and investment vehicles it manages are backed by some of the world’s preeminent investors including APG, SK Holdings, JD.com, CPP Investments, Oxford Properties and PGGM. The ESR platform spans across the People’s Republic of China, Japan, South Korea, Singapore, Australia and India. As of 31 December 2020, the fair value of the properties directly held by ESR and the assets under management with respect to the funds and investment vehicles managed by ESR recorded approximately US$30 billion, and GFA of properties completed and under development as well as GFA to be built on land held for future development comprised over 20 million sqm in total. Listed on the Main Board of The Stock Exchange of Hong Kong in November 2019, ESR is a constituent of the Hang Seng Composite Index and MSCI Hong Kong Index. For more information on ESR, please visit www.esr.com.