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Strongest first quarter ever: Preliminary results of Deutsche Post DHL Group above market expectations

  • All divisions significantly increased EBIT in first quarter 2021; Group EBIT tripled to around EUR 1.9 billion
  • Free cash flow development continued positive trajectory and improved by more than EUR 1.4 billion to around EUR 1.0 billion
  • CEO Frank Appel: “The start into the new financial year was more dynamic than ever”


SINGAPOREMedia OutReach – 12 April 2021 – Deutsche Post DHL Group has today released preliminary results for the first quarter of 2021 and has raised the outlook for the current financial year. Preliminary operating profit (EBIT) for the first three months improved to around EUR 1.9 billion (Q1 2020: EUR 592 million). The positive development of the group’s businesses seen in the fourth quarter 2020 has continued well through the first quarter 2021. In the first three months of the year the B2C shipment volumes remained high in all networks while the recovery in the B2B business continued.

“The start to the new financial year was more dynamic than ever. It proves that we have successfully geared our business to the right growth drivers. One year into the pandemic we experienced in the first quarter 2021 a sustained momentum in e-commerce and a significant stabilization in global trade with increasing air- and sea-freight volumes. Consequently all divisions reported a significant jump in earnings above market expectations. Global trade continues to recover and vaccine distribution is in full swing which makes me very optimistic for the rest of 2021 and beyond,” said Frank Appel, CEO of Deutsche Post DHL Group.

All divisions optimally positioned for continuing e-commerce boom and growth in global trade

Express: The division reached an EBIT of around EUR 955 million in the first quarter 2021 compared to EUR 393 million in Q1 2020.

Global Forwarding, Freight: EBIT in Global Forwarding, Freight stood at around EUR 215 million in Q1 2021, clearly above previous year’s Q1 of EUR 73 million.

Supply Chain: EBIT at Supply Chain came in at around EUR 165 million in the first quarter 2021 compared to EUR 105 million in Q1 2020.

eCommerce Solutions: eCommerce Solutions recorded a first quarter 2021 EBIT of around EUR 115 million, clearly above last year’s Q1 result of EUR 6 million.

Post & Parcel Germany: EBIT in Post & Parcel Germany in Q1 2021 was around EUR 555 million (Q1 2020: EUR 334 million).

Earnings momentum mirrored in positive cash flow development and improved outlook


The continued positive business development is underpinned by a strong cash flow development; free cash flow amounted to around EUR 1.0 billion in the first quarter 2021. In Q1 2020 this figure was still negative at EUR -409 million.

In light of the strong earnings momentum, guidance for 2021 is adjusted as follows:

Group EBIT for 2021 is now expected to be significantly above EUR 5.6 billion (previous forecast: more than EUR 5.6 billion). Equally, the result for the DHL divisions is now seen significantly above EUR 4.5 billion (previous forecast: more than EUR 4.5 billion). EBIT for the Post & Parcel Germany division is no longer expected at around EUR 1.6 billion but above EUR 1.6 billion. The expectation of a Group Functions EBIT of around EUR -0.4 billion remains unchanged. Full year 2021 Free Cash Flow is now expected to be significantly above EUR 2.3 billion (previous forecast: around EUR 2.3 billion).

The Group will introduce a revised detailed guidance with the comprehensive disclosure for Q1 2021 which will be published as planned on May 5, 2021.

Deutsche Post DHL Group

Deutsche Post DHL Group is the world’s leading logistic company. The Group connects people and markets and is an enabler of global trade. It aspires to be the first choice for customers, employees and investors worldwide. To this end, Deutsche Post DHL Group is focusing on growth in its profitable core logistics businesses and accelerating the digital transformation in all business divisions. The Group contributes to the world through sustainable business practices, corporate citizenship and environmental activities. By the year 2050, Deutsche Post DHL Group aims to achieve zero emissions logistics.

Deutsche Post DHL Group is home to two strong brands: DHL offers a comprehensive range of parcel and international express service, freight transport, and supply chain management services, as well as e-commerce logistics solutions. Deutsche Post is Europe’s leading postal and parcel service provider. Deutsche Post DHL Group employs approximately 570,000 people in over 220 countries and territories worldwide. The Group generated revenues of more than 66 billion Euros in 2020.

The logistics company for the world.

Fluxergy, Inc. Receives CE-IVD Marking for a One-Hour COVID-19 RT-PCR Test and Positions for European Market Entry

IRVINE, CA. – News Aktuell – 12 April 2021 – Fluxergy, Inc., a medical diagnostic testing platform company with a detection technology solution capable of multimodality, announced today that it has obtained CE marking for its one-hour COVID-19 RT-PCR test, to use by healthcare professionals as an in vitro diagnostic (IVD) for the detection of SARS-CoV-2. The CE-mark will allow Fluxergy’s innovative testing platform to enter the European Union market and any other markets that accept CE-marking as valid regulatory approval.

The Fluxergy Diagnostic System: The Fluxergy Analyzer, which conducts the testing; the Fluxergy Card, a single-use test cartridge and its reagents; and the FluxergyWorks software, to manage the test data. The Fluxergy Test Kit COVID-19 is only available for purchase in the European Union market and any other markets that accept the CE-marking as valid regulatory approval. COURTESY: FLUXERGY, INC.

Fluxergy’s platform is an automated, sample-to-answer testing platform with multimodal capability allowing for a variety of assay types, such as molecular, immunochemistry, chemistry, and cytometry assays, to be run simultaneously on the same cartridge. This will give users the ability to run unique Point-of-Care (PoC) panels with the potential ability to do built-in reflex testing, among other capabilities. Potential environments for rapid testing applications include emergency rooms, outpatient procedures, urgent care, workplace screening, mobile and community level testing settings.

Fluxergy has made its platform available as Research Use Only (RUO) system for its partners, including University of California San Diego (San Diego, CA, USA) and Mass General Brigham (Boston, MA, USA), during the public health emergency. In December 2020, Fluxergy received dual ISO-13485:2016 and MDSAP certifications.

Last year, Fluxergy received a $30 million investment from John Tu, principal investor and Kingston Technology co-founder, to rapidly expand its capability to scale production of the Fluxergy Analyzer diagnostic testing system in response to the COVID-19 pandemic. Fluxergy has now expanded manufacturing capabilities for its testing system to up to one million per month.

“Fluxergy is seeking commercial partnerships with healthcare providers and international go-to-market partners in Europe, Asia, and Australia”, states Fluxergy’s Chief Commercial Officer, Dr. Ali Tinazli, responsible for global sales.

Fluxergy’s potential for multimodality of its platform raises important questions: How will decentralized testing at the point-of-need become a key enabler for telemedicine? What platforms, technologies, and workflows do we need to be better prepared for the next pandemic? To what extent does telemedicine with the diagnostic data unlock new healthcare opportunities such as in preventive medicine?

For more information, contact Richard Laermer (+1-212-741-5106 X216; fluxergy@RLMpr.com) and visit www.fluxergy.com.

Disclaimer

The Fluxergy Test Kit COVID-19 is only available for purchase in the European Union market and any other markets that accept the CE-marking as valid regulatory approval.

Vientiane Capital Issues Eight Rules for Lao New Year Celebrations

Laos Issues Eight Regulations for Lao New Year

Authorities in Vientiane Capital have issued eight rules for residents to follow during the Lao New Year period.

Qatar Airways Launches Ferry Transfer Service from Shenzhen Shekou to Hong Kong International Airport

Qatar Airways introduces Upstream Check-in Service in Shenzhen starting from 15 April 2021 to offer greater connectivity in the Greater Bay Area

Local passengers will have the option to utilise the 30-minutes-long ferry service to fly out of Hong Kong; “Asia’s World City” to over 80 destinations in Europe, the Middle East, Africa and the Americas


SHENZHEN & HONG KONG SAR, CHINA – Media OutReach – 12 April 2021 – Qatar Airways today announced the sea-to-air ferry transfer service from Shenzhen Shekou Port to the SkyPier in the airside of Hong Kong International Airport (HKIA) starting from 15 April 2021, providing passengers in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), one of the world’s most dynamic mega-regions, convenient access to the airline’s global network from “Asia’s World City”.

Partnering with Airport Authority Hong Kong, the introduction of the Upstream Check-in Service will allow Qatar Airways customers in Shenzhen greater flexibility and enhanced travel options to the world from Hong Kong, where the airline operates daily direct service to Doha with its modern and fuel-efficient Airbus A350-900 aircraft that features 36 lie-flat seats in Business Class and 247 seats in Economy Class.

Qatar Airways customers can purchase their ferry tickets from SkyLink or the port’s website. Passengers utilising the 30-minutes-long ferry service will be provided with boarding passes and baggage check-through service to their final destinations at the Shenzhen Shekou terminal, where they will also clear their customs and immigration. Upon arrival at SkyPier, customers can proceed directly to their Qatar Airways boarding gate, or enjoy the award-winning duty-free shopping experience and fine-dining options at HKIA before continuing a seamless and hassle-free onward journey with the airline to more than 80 destinations in Europe, the Middle East, Africa and the Americas.

Mr. Thomas Scruby, Qatar Airways Vice President of Sales for Australasia & North Asia, said: “The introduction of ferry transfer service will boost our footprint in the Greater Bay Area by providing our Southern Chinese customers more flexible flying options via HKIA. We know connectivity within the region and to the wider world is critical for the success of the GBA. Therefore, we are excited to do our part to build the infrastructure necessary to make it easier and smoother for local customers to travel despite the disruption caused by the pandemic around the world.”

“We are confident in the market’s demand and our commitment to the region remains resolute. The next phase of our partnership with Airport Authority Hong Kong will see the ferry transfer service to be further expanded to other key GBA metropolis such as Macau and Dongguan once government restrictions are lifted, allowing even more customers in the region to enjoy the world-class experience that Qatar Airways has to offer.”

Premium customers opting for the ferry transfer service can continue to enjoy the luxurious on-ground experience at the Plaza Premium Lounge, conveniently located near Gate 1 at the South Departures Hall in Hong Kong International Airport. Passengers will be able to take advantage of the well-furnished environment with comfortable seating, shower rooms, contactless food ordering service, highspeed Wi-Fi and international TV channels. Privilege Club Gold members and above as well as selected oneworld frequent flyers also enjoy access to The Wing located near Gates 1 – 4, the industry-renowned lounge operated by Cathay Pacific, where guests can recharge, relax, and catch up with work before boarding their Qatar Airways flights.

The Greater Bay area is home to many of the nation’s leading universities and academic institutions; the ferry transfer service will also provide more travel choices to the area’s students wishing to complete their higher-education or exchange programs abroad. International students will be able to enroll in Qatar Airways Student Club and enjoy a wide range of benefits throughout their educational journey, such as special fares, extra baggage allowances, the flexibility to change the dates of their flight, complimentary Super Wi-Fi onboard, and more. For information about Student Club, visit: https://www.qatarairways.com/en/student-club.html

In addition to the highest safety standards, passengers flying with Qatar Airways will enjoy an even greater range of thoughtfully designed onboard experiences, including locally inspired menus, multi-language entertainment programs within the airline’s award-winning IFE system, as well as Cantonese and Mandarin-speaking staff service both onboard and at the airline’s five-star hub Hamad International Airport (HIA).

Qatar Airways continues to expand its network of destinations, offering more flights to international destinations than any other airline. By the middle of summer 2021, Qatar Airways’ plans to rebuild its network to more than 140 destinations including 23 in Africa, 14 in the Americas, 43 in Asia-Pacific, 43 in Europe and 19 in Middle East. Many cities will be served with a strong schedule with daily or more frequencies.

Qatar Airways has become the first global airline in the world to achieve the prestigious 5-Star COVID-19 Airline Safety Rating by international air transport rating organisation, Skytrax. This follows HIA’s recent success as the first airport in the Middle East and Asia to be awarded a Skytrax 5-Star COVID-19 Airport Safety Rating. These recognitions provide assurance to passengers across the world that airline health and safety standards are subject to the highest possible standards of professional, independent scrutiny and assessment. For full details of all the measures that have been implemented onboard and in HIA, please visit qatarairways.com/safety.

A multiple award-winning airline, Qatar Airways was named ‘World’s Best Airline’ by the 2019 World Airline Awards, managed by the international air transport rating organisation Skytrax. It was also named ‘Best Airline in the Middle East’, ‘World’s Best Business Class’, and ‘Best Business Class Seat’, in recognition of its ground-breaking Business Class experience, Qsuite. Qsuite is available on flights to more than 45 destinations including Johannesburg, Frankfurt, New York and Singapore.

About Qatar Airways:

A multiple award-winning airline, Qatar Airways was named ‘World’s Best Airline’ by the 2019 World Airline Awards, managed by international air transport rating organisation Skytrax. It was also named ‘Best Airline in the Middle East’, ‘World’s Best Business Class’ and ‘Best Business Class Seat’, in recognition of its ground-breaking Business Class experience, Qsuite. Qatar Airways is the only airline to have been awarded the coveted “Skytrax Airline of the Year” title, which is recognised as the pinnacle of excellence in the airline industry, five times.

Hamad International Airport (HIA), the airline’s home and hub, was recently ranked “Third Best Airport in the World”, among 550 airports worldwide, by the SKYTRAX World Airport Awards 2020. Rising from fourth position in 2019 to third in 2020, HIA has been steadily rising in the ‘World’s Best Airports’ rankings since the start of its operations in 2014. In addition, HIA was voted the ‘Best Airport in the Middle East’ for the sixth year in a row and ‘Best Staff Service in the Middle East’ for the fifth year in a row.

Qsuite, a patented Qatar Airways product, features the industry’s first-ever double bed in Business Class, as well as privacy panels that stow away, allowing passengers in adjoining seats to create their own private room, a first of its kind in the industry.

Qatar Airways was the first Gulf carrier to join global airline alliance oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 160 countries, with 14,250 daily departures.

Oryx One, Qatar Airways’ in-flight entertainment system offers passengers up to 4,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, B777, A350, A380, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline’s on-board Wi-Fi and GSM service.

Qatar Airways proudly supports a range of exciting international and local initiatives dedicated to enriching the global community that it serves. Qatar Airways, the official FIFA partner, is the official sponsor of many top-level sporting events, including the FIFA World Cup Qatar 2022TM, reflecting the values of sports as a means of bringing people together, something at the core of the airline’s own brand message – Going Places Together.

Qatar Airways Cargo, one of the world’s leading international air cargo carriers, serves more than 60 freighter destinations worldwide via its world-class Doha hub and also delivers freight in the belly-hold of passenger aircraft to an extensive global network. The Qatar Airways Cargo fleet includes two Boeing 747-8 freighters and 24 Boeing 777 freighters.

Qatar Executive is the private jet charter division of Qatar Airways Group. Luxury jet services are available for worldwide charter on board the operator’s wholly-owned business jet fleet. Qatar Executive is the launch customer for Gulfstream’s G700, the world’s first commercial service operator of the Gulfstream G500 and largest commercial operator of the G650ER worldwide. Qatar Executive’s service portfolio also includes aircraft management, maintenance and Fixed Based Operator services.

Asia Pacific Rayon Raises US$300m from National and International Affiliated Banks to Expand Production Capacity

  • Continued capital expenditure aims to boost production and support the recovery of Indonesian economy
  • Loan agreements aligned with Indonesian Government’s strategy to drive investment growth in 2021
  • APR is a member of the RGE group of companies

JAKARTA, INDONESIA – Media OutReach – 12 April 2021 – Asia Pacific Rayon (APR), the largest integrated rayon fiber producer in Indonesia, today announced that it has secured a syndicated loan facility of Rp 4.5 trillion (US$300 million) with national and international affiliated banks. The funding will be used to support continued capital investment in the company’s production facilities at Pangkalan Kerinci, Riau Province, Sumatra.

APR is vertically integrated through its supply chain, from renewable fiber plantations to high-value textile development. It commenced operations in 2019 and was formally inaugurated by President Jokowi Widodo in February 2020. APR plans to increase its production capacity over the coming year to capture the strong growth potential of viscose staple fiber (VSF), strengthening its market position in Indonesia and in export markets across the region. APR is a member of the RGE group of companies. Founded by Sukanto Tanoto, RGE manages a group of resource-based manufacturing companies with global operations.

The syndicated loan participating banks are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Pan Indonesia Tbk, PT Bank Pembangunan Daerah Jawa Barat, PT Bank Woori Saudara Indonesia 1906 Tbk and PT Bank KEB Hana Indonesia

The joint mandated lead arrangers and bookrunners for the syndicated loan are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, and PT BANK Pan Indonesia Tbk.

Basrie Kamba, Director, Asia Pacific Rayon, said: “This funding will be used to support continued investment in our operations in Kerinci. Rayon fiber, or viscose, is a textile raw material derived from sustainably managed plantations. As rayon is both renewable and biodegradable, it supports the trend towards sustainable fashion in Indonesia and in other markets around the world.”

APR’s planned expansion is aligned with the Indonesian Government’s strategy to increase investment and boost employment to support the recovery of the country’s economy and address the continued impact of the COVID-19 pandemic. Following the passing into law of the Omnibus Bill in October last year to streamline investment and stimulate job creation, President Widodo said last month that investment would be the key factor in achieving 5% economic growth in 2021.

“This loan facility and our continued investment in our operations are evidence of the growth potential of the viscose rayon sector in Indonesia and around the world. We are committed to supporting the Indonesian Government’s efforts to improve the investment climate in export-oriented manufacturing industries, and its efforts to create upstream jobs in plantations and the processing of raw materials, and downstream opportunities in textile factories and related businesses,” said Basrie.

Hari Setiawan, Executive Vice President of PT Bank Rakyat Indonesia (Persero) Tbk said : “As Representative of JMLAB and all lenders, I hope this collaboration will be useful to support the growth and development of PT Asia Pacific Rayon in increasing production and operations and also supporting the recovery of Indonesia’s export growth.”

“Support from BCA and other Banks reflect our confidence in APR, and as our contribution to promote a sustainable and environment friendly industry. We hope this cooperation will tighten our relationship as well,” said Susiana Santoso, Executive Vice President of PT Bank Central Asia Tbk.

About Asia Pacific Rayon

Asia Pacific Rayon is the first fully integrated viscose rayon producer in Asia. Located in Pangkalan Kerinci, Riau, the company uses the latest production technology to produce high-quality rayon to meet textile needs. APR is committed to becoming a leading viscose rayon producer with the principles of sustainability, transparency and operational efficiency, serves the interests of the community and the country, and provides value to customers. APR is part of the RGE (Royal Golden Eagle) group of resource-based manufacturing companies. Sustainability is fundamental to APR. The APR Sustainability Policy, updated in September 2020, include additional commitments on pulp sourcing and clean manufacturing.

About RGE

RGE Pte Ltd manages a group of resource-based manufacturing companies with global operations. Our work ranges from the upstream, comprising sustainable resource development and harvesting, to downstream, where our companies create diverse value-added products for the global market. Our commitment to sustainable development underpins our operations, as we strive towards what is good for the community, good for the country, good for climate, good for customer, and good for company. RGE was founded in 1973. The assets held by RGE companies today exceed US$20 billion. With more than 60,000 employees, we have operations in Indonesia, China, Brazil, Spain and Canada and continue to expand to engage newer markets and communities. www.rgei.com

Philippines’ new law cuts corporate tax, improves fiscal incentives system

Benefits for Japanese investors highlighted

 

MANILA, PHILIPPINES – Media OutReach – 12 April 2021 – The Philippines has enacted a landmark law that cuts corporate income tax by as much as 10 percent and rationalizes fiscal incentives, thereby serving as the biggest stimulus for businesses in the country’s history.

On March 26, President Rodrigo R. Duterte signed Republic Act No. 11534 or the “Corporate Recovery and Tax Incentives for Enterprises Act” (CREATE) into law after a joint Philippine Congressional panel ratified it in February.

With the new law, the Philippine government is providing about P1 trillion (nearly JPY2.3 trillion) worth of tax relief to businesses over the next 10 years.

Finance Secretary Carlos Dominguez III said in a statement that the enactment of CREATE into law “signals to the rest of the world that the Philippines is back in the game to attract investments, create jobs, and achieve inclusive growth.”

CREATE’s Far-Reaching Impact

CREATE will help attract job-generating investment domestically and internationally from countries such as Japan. It will also aid the speedy recovery of businesses and the Philippine economy at large following the onset of the COVID-19 pandemic.

CREATE slashes the corporate income tax (CIT) from 30 percent to 20 percent for small enterprises with net taxable income of P5 million (about 11 million yen) and below, and with total assets of not more than P100 million (about 220 million yen), excluding land. It will also reduce CIT for large firms to 25 percent, which is within the range in other ASEAN countries.

CREATE also rationalizes the country’s fiscal incentives system in a manner that will enable the government to provide competitive and well-targeted incentives to investors in priority industries and locations.

In particular, enterprises whose investments qualify under the government’s Strategic Investment Priority Plan (SIPP) may avail themselves of an income tax holiday (ITH) of between four and seven years. Once the ITH lapses, other tax perks may still be applied for.

For exporters, either one of two options for tax incentives are available following the expiration of the ITH. One is a preferential tax of 5 percent on gross income earned (GIE) for 10 years. The other is the “enhanced deductions” scheme, which allows a more generous list of allowable deductions from taxable income for a period of 10 years.

For non-exporters, they can utilize the “enhanced deductions” scheme for a period of five years after their ITH expires.

Moreover, enterprises that choose to be located in areas outside the National Capital Region (NCR) will enjoy additional ITH for three years, while those located in areas recovering from disaster or conflict will enjoy ITH for two years.

Alongside this development, government-owned and -controlled corporation Bases Conversion and Development Authority (BCDA), which engages in public-private partnerships for vital infrastructure and real estate development, has cited the value that Japanese investors find in doing business in the Philippines.

BCDA President and CEO Vivencio B. Dizon noted that many Japanese firms have been doing business in the Philippines in industries such as real estate and manufacturing. In Clark, an area north of Manila developed by BCDA, there are 43 Japanese firms in operation, including those in various types of manufacturing, business process outsourcing, software development, warehousing, freight forwarding, tourism estate, and office space.

With the enactment of CREATE, the Philippines hopes to attract even more Japanese investors and businesspeople as well as other foreign investors.

“Our Japanese partners benefit from the presence of industrial zones that are supported by transport and logistics facilities. Further, the country’s location in the Asia-Pacific allows them access to major trading routes,” Dizon said.

“We [Filipinos] share similarities with the Japanese in terms of hard work, perseverance, and family values, making the quality of our labor force ideal for these firms,” he added.

Aside from CREATE, the Philippines’ economic managers are pushing for the speedy enactment of other reforms that will further liberalize the economy such as the amendments to the Foreign Investment Law, the Public Service Act, and the Trade Liberalization Law.

Philippine-Japan Relations

Recently, the Philippines and Japan reaffirmed their commitment to further build on their strong economic partnership.

Japan was the Philippines’ top export market and second biggest source of imports in 2020. Japan was also the Philippines’ biggest source of foreign direct investments (FDIs) last year, accounting for 47.35 percent of total net equity FDIs other than reinvestment earnings.

In recent separate courtesy calls Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno and Philippines’ Finance Secretary Carlos Dominguez III, Japan Ambassador to the Philippines Koshikawa Kazuhiko cited plans to expand Japanese investment in the Philippines.

The Ambassador said Japanese companies are exploring ways of realigning their supply chains to other countries, including the Philippines.

The BSP Governor told the Ambassador that the Philippines and Japan will mutually benefit from enhanced economic ties—i.e., the Philippines from Japanese investments and Japan from the Philippines’ young, educated, and English-speaking workforce.

The Ambassador also reiterated Japan’s full support to the Philippines’ efforts to develop micro, small, and medium enterprises (MSMEs). In fact, Japan International Cooperation Agency (JICA) has engaged in a joint initiative with the BSP for the Credit Risk Database project, which was launched in December last year. The project involves the creation of a centralized credit database for MSMEs, which is expected to significantly enhance their access to bank loans.

The Ambassador lauded the BSP Governor for the proactive response of the central bank in mitigating the impact of the COVID-19 pandemic on the economy, such as through cuts in the policy rate and the reserve requirement for banks.

In his meeting with the Finance Secretary, the Ambassador also congratulated him for the landmark CREATE law.

The Philippines’ key indicators

The Philippines’ favorable economic recovery prospects are well recognized internationally, partly due to its sound macroeconomic fundamentals that have provided the country with ample fiscal and monetary space to squarely deal with the effects of the pandemic. For this year, the government expects the economy to grow anywhere between 6.5 and 7.5 percent.

The Philippines has managed to keep its investment grade credit ratings, amid a wave of credit rating downgrades and negative outlook revisions globally. The country was rated “BBB” by Fitch and the equivalent “Baa2” by Moody’s (both ratings are one notch higher than the minimum investment grade), and a higher rating of “BBB+” by S&P (delete as R&I upgrade is mentioned in the paragraph below)


last year, Japan Credit Rating Agency upgraded the Philippines’ credit rating by a notch to “A-” while Rating and Investment Information Inc. (R&I), also a Japan-based debt watcher, upgraded the country’s rating by a step to BBB+. All cited encouraging economic prospects.

Philippines issues Samurai bonds

Favorable assessment from the Japanese debt watchers bodes well for the financing activities of the Philippines as it issues Samurai bonds. The Philippines returned to the Samurai bond market March 30, with the issuance of a three-year zero-coupon bond.

The bond was priced at 21 basis points above benchmark, the tightest spread the country has achieved since returning to the Samurai market in 2018. Strong investor demand led to a hike in the size of the offering from the initial JPY30 billion to JPY55 billion.

These materials are distributed by BCW on behalf of the Government of the Republic of the Philippines. Additional information is on file with the US Department of Justice.

Chubb launches “Chubb LifeBalance” in Korea, a 360 degree personalised Health and Well-being App

SEOUL, SOUTH KOREA – Media OutReach – 12 April 2021 – Chubb today announced its release of “Chubb LifeBalance” in Korea, a digital health and well-being application that encourages people to incorporate healthy routines into their lifestyle.

Chubb LifeBalance comprehensively assesses the lifestyle of users and provides a holistic view of health to help them to objectively measure and manage their own health condition.

Once users set their personal goals within the app, such as walking 5,000 steps a day, reducing snack consumption, and establishing a meditation and/or sleep routine etc., the coaching functionality starts to monitor and encourage the users to achieve their goals.

Chubb LifeBalance tracks and records over 115 different activities—including yoga, swimming, boxing, and meditation, and lets users invite their friends and family to join challenges and compete in these activities together. It connects with a full range of health devices and other apps such as Fitbit, Strava and Garmin.

Based on over 2,500 clinical papers and years of clinical data collected from over 300 million people, reputable teams from the Massachusetts Institute of Technology (MIT) USA participated in building a credible health score system behind the app so that users can effectively monitor their overall health and well-being.

The health points, based on activities and goal achievements set on the app, can be exchanged for mobile vouchers at various coffee shops, gas stations, and grocery stores to enjoy varied benefits. These are only available as exclusive incentives to existing Chubb customers.

Edward Ler, Country President of Chubb’s general insurance business in Korea said, “Chubb LifeBalance was created to offer more advanced and personalized health and well-being services for the customers in Korea who lead busy lifestyles. We believe Chubb LifeBalance will help our customers strive towards a sustainable and balanced lifestyle.”

The app is currently available on the Google Play Store and Apple App Store.

About Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: www.chubb.com.

Delphos International and YW Capital Agree Strategic Partnership

WASHINGTON D.C., USA AND JOHANNESBURG, SOUTH AFRICA – Media OutReach – 12 April 2021 – Delphos International (Delphos) today agreed a strategic partnership with YW Capital. Delphos, a DC-based financial consultancy focused on emerging markets, agreed the deal with YW Capital, a South African financial advisory firm. The agreement is premised on a compelling proposition for investors, entrepreneurs and institutions transacting across the African continent.

Delphos Co-Chair, Bart Turtelboom

Mesh Pillay, Chief Executive of YW Capital

The partnership combines the two firms’ specialisms. Delphos is industry-leading in structuring emerging market transactions and relationships with international Development Financial Institutions (DFIs). YW Capital’s international footprint focuses on long-standing relationships with companies, state-owned entities and governments operating in Africa. The collaboration combines a track record spanning c. US $37bn in capital raised and transaction experience across 86 countries.

Delphos Co-Chair, Bart Turtelboom: “I am thrilled to begin this new relationship between Delphos and YW Capital. YW’s relationships throughout Africa are a great compliment to Delphos’ uniquely strong understanding of DFIs as we work together to unlock capital for projects across the African continent.”

The COVID-19 pandemic’s impact on the global economy has fuelled a potential redress of business fundamentals, specifically transforming the manner in which investors perceive the relative risk profiles for opportunities in developed and emerging economies. Since the beginning of 2021, expansionary developed market monetary policy, rising commodity prices, and effective COVID-19 vaccines, have been converging to drive global capital flows to emerging markets. This is likely to overshadow the challenging domestic fundamentals among African markets and reboot growth in most economies, supporting local currency assets. Consequently, YW Capital and Delphos have recognised the need for an assimilation of focused business interests, leveraging each other’s independent platforms and perspectives, to foster new commercial opportunities with combined global reach.

Mesh Pillay, Chief Executive of YW Capital comments: “Our partnership with Delphos seeks to develop a premier platform for facilitating international capital raising transactions between corporates and investors seeking quality opportunities within the emerging-and-frontier-markets in Africa.”

Capital flows to emerging markets typically accelerate following global recessions. Entrepreneurs and companies in the mid-to-large cap range based in Africa and seeking a path to new growth funding can benefit from an integrated advisory partner with global reach and direct relationships with like-minded investors.

Similarly, the value proposition for international investors seeking bespoke equity placement and debt capital raising in Africa, is resolute. The combined client universe now benefits from access to international and local DFIs, sovereign funds, pension funds, asset management funds, as well as international family offices and high-net-worth investors. YW Capital and Delphos together present a compelling offer to participants conducting business on the continent. Within this context, the firms believe that the second half of 2021, while not without risk, has the potential to be record-setting for their partnership and for Africa.

While each firm has formidable transaction experience on the continent, there are synergies to be extracted from the partnership which result in enhanced outcomes for their clients.

Despite the continued challenges from the pandemic, USA equity markets have continued a strong level of activity. In particular, both the size and number of IPOs rose sharply in 2020, with disclosed values reaching their highest levels since the global recession more than a decade ago. In addition, a significant proportion of the IPO growth stemmed from the spike in SPAC activity, an increasingly important alternative for African entrepreneurs seeking first time capital allocations. Over the past year, YW Capital has been developing a platform in the USA, offering African companies the potential to directly attract new investor interest, through both the private and public markets. This is complemented by YW Capital’s partnership with Delphos, who, with their USA presence in Washington DC, New York and Miami, contributes a network of offices and relationships in Hong Kong, Canada, the United Kingdom and Switzerland.

“Our combined track record and experience creates a comprehensive and compelling offering for our clients – we look forward to further developing the African equity story with the Delphos team,” Pillay concludes.

This exciting collaboration can help companies and entrepreneurs conducting business on the African continent, including inter alia organisations:

  • Seeking access to capital, whether through private placement or via public offering;
  • Requiring an introduction to strategic stakeholders, including those with financial capital and / or those with non-financial value unlocking potential;
  • Exploring growth opportunities, through accretive and acquisitive action;
  • Navigating complex equity markets, domestically or internationally, as it relates to any stage of the business cycle.

Institutions and strategic investors can also benefit, especially with the following objectives in mind:

  • Seeking deployment of capital on a mandated or bespoke basis;
  • Seeking introductions to qualifying opportunities in emerging and frontier markets;
  • Assisting in navigating African capital markets to place financial capital within the domestic legal and regulatory environment.