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DHL Supply Chain makes strategic leadership appointments in Asia

  • Noel Singgih and Michael Lai are appointed as Chief Information Officer and Chief Operating Officer respectively
  • Strategic moves come at an opportune time when the division is ramping up its digitalization agenda, to drive long-term value for customers

SINGAPORE – Media OutReach – 27 August 2021 – DHL Supply Chain, the world’s leading contract logistics provider and a business division under Deutsche Post DHL Group, has appointed Noel Singgih as its Chief Information Officer (CIO) and Michael Lai as Chief Operating Officer (COO) for Asia Pacific. Both Singgih and Lai are industry veterans who have proven track records in their respective areas of expertise and were instrumental in the success of many key initiatives implemented in the organization.

Noel Singgih, Chief Information Officer, DHL Supply Chain Asia Pacific

Michael Lai, Chief Operating Officer, DHL Supply Chain Asia Pacific

They take over from Steve Walker, who has recently been appointed Chief Executive Officer for the division’s regional cluster which includes Thailand, Vietnam, Cambodia and Myanmar. Walker, Singgih and Lai are part of the regional management board.

“DHL Supply Chain has a strong pool of talent in Asia that makes it easy to identify from within the right fits for these roles. Noel has been with us for more than ten years now and his capabilities are evident from the digital projects that he has helped to spearhead in the region, commented Ryan. “I’m equally convinced that Michael’s experience in optimizing operations in different international markets, including Greater China, makes him the perfect choice to further enhance our standardization processes, and to derive and drive best practices.”

Driving the accelerated digitalization agenda to future-proof our customers’ supply chains

Prior to this appointment, Noel Singgih was most recently CIO for Global Service Logistics, E-commerce and Warehousing in DHL Supply Chain. During his tenure, he contributed decisively to the global IT strategy for e-commerce and spearheaded several digital warehouse IT solutions for key customers in the region.

Singgih joined Deutsche Post DHL Group a decade ago as Senior Director for Infrastructure and Service Management. He has held several management positions including CIO for the division’s Greater China team from 2016 before taking on the additional role of COO in 2017 to 2019. In this new role, Singgih will continue to report to Markus Voss, CIO & COO DHL Supply Chain and be based out of Singapore.

“The pandemic has demonstrated that it’s critical to keep a keen eye on the horizon ahead, and accelerate digital transformation to future-proof our customers’ supply chains. I’m honored to be given this opportunity to bring direct impact and influence on deploying the very best digital solutions and innovations for our customers,” added Singgih.

Operational excellence is key to customer satisfaction

Michael Lai was most recently the COO and Head of Solutions and Innovation at SF DHL Supply Chain in China, a role he assumed in 2019 after spearheading the strategic partnership between DHL Supply Chain and SF Holding in Mainland China, Hong Kong and Macau. He was responsible for shaping the operations culture by combining best practices and governance from DHL with local practices. He also actively pursued innovative and digital technologies, implementing various digitalization and data analytics topics to drive operations excellence.

Lai has spent 18 years with DHL where he held senior management roles based out of Taiwan, South China, Macau, Hong Kong and Germany. In 2011, he relocated to Bonn, Germany to work on developing the Deutsche Post DHL Group’s global strategy where he earned his chops in managing merger and acquisition projects for the supply chain division.

Lai said, “I’m incredibly honored and excited about this regional role and look forward to meet with our teams to better understand our operations across the multi-cultural cities in Asia to see where I can add value to existing processes and best practices. When it comes to the pursuit of operational excellence, I’m convinced that our laser focus on delivering customer satisfaction will help lead the way in continuous improvement.”

DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 400,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 66 billion euros in 2020. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve zero-emissions logistics by 2050.

#DHL

CPA Australia: Mainland Chinese businesses lead the way in technology usage in Asia Pacific

  • Survey reveals Mainland Chinese businesses lead technology usage in region.
  • 91 per cent of survey respondents expect to increase technology investment.
  • Cybersecurity concerns identified as a key barrier to technology adoption.

BEIJING, CHINA – Media OutReach – 27 August 2021 – Mainland Chinese businesses were strong performers in technology adoption and innovation over the past year, according to one of the world’s largest professional accounting bodies, CPA Australia.

Among surveyed markets, they were the most likely to use artificial intelligence (AI), business intelligence (BI) software, customer relationship management (CRM) software, data analytics and visualisation software and enterprise resource planning (ERP) software in the past 12 months. The survey also found that high growth businesses are much more likely to use these technologies than other businesses.

Further, 96 per cent of surveyed respondents reported that their employers undertook at least one technology-related project in the past 12 months, the highest among all surveyed markets.

CPA Australia surveyed 725 professionals in different industries from Mainland China, Hong Kong, Macau, Singapore, Malaysia and Australia. The survey results are included in CPA Australia’s Businesses Technology Report 2021.

“It’s very positive to see that Mainland Chinese businesses are leading usage in almost all these technologies,” said Tony Chan, Deputy President of CPA Australia’s South China Committee, “We are glad to see Mainland Chinese businesses have undertaken various technology-related projects.

“There is a connection between technology usage and business performance. Their strong focus on digitalisation and innovation will enable Mainland Chinese businesses to not only keep pace with new technology trends, but also to lead them,” Chan said.

“With Mainland China’s 14th Five-Year Plan identifying innovation and technology as a core national priority, combined with favourable policies announced by the central and local governments as well as the rapid deployment of 5G technology, we are confident this positive trend will continue,” Chan said.

Ninety-one per cent of Mainland Chinese respondents expect their employers to increase investment in or use of various technologies in the coming 12 months. Data analytics and visualisation software, cloud technology, BI software and AI are the technologies that Mainland Chinese businesses will most likely increase investment in or use of in the next 12 months.

Although strong technology adoption has brought many benefits, it’s not without its challenges. According to the survey, respondents from Mainland China were the most likely of the markets surveyed to identify cybersecurity concerns as a key barrier to business technology adoption.

“The survey findings show that Mainland Chinese companies are more likely to adopt and invest in advanced technologies such as AI and BI software that rely heavily on data. It’s therefore not surprising that 41 per cent of Mainland Chinese respondents nominated cybersecurity concerns as a major challenge to business technology adoption,” said Wilson Feng, Member of CPA Australia’s East and Central China Committee.

“The data reveals that Mainland Chinese businesses are taking action to meet this challenge. Forty-seven per cent of surveyed respondents from Mainland China reported that their employers had increased investment in cybersecurity software in the past 12 months. Twenty-eight per cent expect their employers to increase investment in cybersecurity software in the next 12 months,” Feng said.

“It is essential that digital transformation and risks mitigation go hand in hand. Businesses should also plan and execute strategies that manage potential risks to their network, data and technology tools to ensure that the organisation is safeguarded from threats.” Feng said.

CPA Australia technology recommendations

  1. Implement a long-term digital transformation strategy that aligns technology with your business’ culture, employees, risks and objectives, and embrace opportunities in the global market.
  2. Take advantage of the 14th Five-Year Plan’s focus on technology innovation to introduce new products and services.
  3. Encourage innovation by developing a technology talent pool and adopting innovative approaches to retain top technology talent.
  4. Keep abreast of emerging technologies and utilise big data to keep improving business operations and increase international competitiveness
  5. Review compliance with cybersecurity and relevant data security laws and policies in Mainland China.
  6. Commit appropriate resources to raising employees’ cybersecurity awareness.

Businesses Technology Report 2021 (English only)

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 168,000 members in over 100 countries and regions, including more than 20,000 members in Greater China. We have offices in Beijing, Shanghai and Guangzhou. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

#CPAAustralia

Foresight Begins Proof of Concept Project with a Leading Chinese Vehicle Manufacturer

The POC project in China follows the recently announced MOU with Chery

NESS ZIONA, ISRAEL – News Direct – 27 August 2021 – Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today the initiation of a proof of concept (POC) project with a leading Chinese passenger car manufacturer. The POC project is meant to evaluate the stereoscopic capabilities of Foresight’s QuadSight® vision system, using both visible-light and thermal infrared channels, to detect and classify obstacles on any road in harsh weather and lighting conditions. Following successful completion of the project and a satisfactory outcome, the vehicle manufacturer may consider future cooperation for possible integration into its semi- and fully autonomous vehicles. The project is expected to be completed during the fourth quarter of 2021.

In addition, the Chinese vehicle manufacturer will evaluate Foresight’s ability to create a stereo system using two existing mono cameras with overlapping fields-of-view, made possible using Foresight’s automatic calibration solution. This configuration is designed to enhance the Chinese vehicle manufacturer’s existing safety sensor performance in terms of all obstacle detection quality, distance accuracy and robustness. Successful evaluation may lead to future co-development projects.

“I believe that this POC project serves as a vote of confidence from the Chinese automotive market, as another leading vehicle manufacturer chooses to evaluate Foresight’s advanced 3D perception technologies. Following our recently signed MOU with Chery, we continue our strategy to expand our presence and become a dominant player in the Asian automotive market. Our proprietary vision technologies offer an accurate and reliable vision solution that may be integrated into semi- and fully autonomous vehicles to enhance existing safety systems,” said Haim Siboni, CEO of Foresight.

About Foresight

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.

Foresight’s vision solutions include modules of automatic calibration, sensor fusion and dense 3D point cloud that can be applied to diverse markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics.

For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses the potential for the Chinese vehicle manufacturer to consider future cooperation for possible integration into its semi- and fully autonomous vehicles, the expected timing of the completion of the project and that it continues its strategy to expand its presence and become a dominant player in the Asian automotive market. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release.

The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Foresight’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 30, 2021, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third-party websites.

#Foresight

Chinese Investors Propose Laos-China-Vietnam Triangle Development

New Triangle SEZ Laos China and Vietnam

Authorities in Phongsaly Province have approved a feasibility study for the development and construction of a new Special Economic Zone at the borders of Laos, China, and Vietnam.

A New Paradigm: AptameX, A Synthetic, Saliva-Based Rapid Covid-19 Diagnostic Test with Sensitivity at CT Scores >25

PT Achiko Medika Indonesia and PT Indofarma Tbk are delighted to announce the product and registration emergency use approval of its revolutionary diagnostic test for Covid-19, AptameX. The approval allows for immediate roll-out of the breakthrough DNA aptamer-based non-invasive testing kit, which enables access to low-cost and accurate Covid-19 testing for over 270 million Indonesians. Design and chemistry of AptameX allows for rapid scale-up of production, soon serving millions of people multiple times per month. The production of the AptameXtesting kit will start in September 2021.

JAKARTA, INDONESIA – EQS Newswire – 26 August 2021 – For two years, the world’s population has been plagued by the Covid-19 pandemic. In this time, we have seen extraordinary endeavors, such as the rapid introduction of new vaccines and the emergence of a new mRNA vaccine technology. They represent unprecedented advances in international collaboration, science and technology. Despite all our efforts, however, the crisis persists, and we will continue to rely on remarkable medical and scientific efforts if we are to meet the challenges Covid-19 presents. In this context, the need for accurate testing has come to the forefront of consciousness, especially as global vaccination progresses slowly, and papers published in respected journals indicate that booster vaccinations will be routinely required.

How does testing help countries and populations with limited access to vaccination combat the virus and its devastating effects? Vaccination programs promise to curb Covid-19. But governments and businesses are increasingly accepting what epidemiologists have long predicted: the pathogen in a growing number of variants will circulate for years, or even decades. The question therefore is: how can we allow communities to co-exist with the virus, as is the case with endemic diseases such as flu and measles?

Vaccination theory essentially postulates that herd immunity must be achieved and that, consequently, vaccines must prove effective enough to limit the global spread of Covid-19 to a controllable endemic level. Until such time, the requirement is to anticipate and control the spread of the contagion – and routine testing is now recognized as an essential addition to the existing arsenal we have in the fight against the spread of the virus and its variants, all the while continuing the vaccination program.

Mass testing opens door to normal life

Currently, testing is considered as an obligation or a procedure that must be carried out when a patient exhibits symptoms that indicate the presence of Covid-19. However, this is both inefficient and debatably failing to contain and manage the spread of the virus. Epidemiologists from renowned institutions such as Harvard’s Wyss Institute of Biologically Inspired Engineering are therefore calling for a clear shift in strategy. They are advocating for a cheap, daily test that can be as effective as the vaccine approach in interrupting transmission; this is the challenge Achiko AG is taking on.

Routine accurate testing is a much needed viable option for the management of viral transmission in order for us to return to the approximation of a normal life. Work, school and social contacts must be able to continue. We need this as individuals, as society and ultimately from an economic perspective.

Mass testing is a necessary requirement to this end. In response to this condition, Achiko AG, in collaboration with PT Indofarma Tbk, held an online talk show on Clinical Talks discussing why frequent Covid-19 testing is necessary. The talk show was entitled “Diligent Covid-19 Testing: The New Normal” and was held on Thursday, 26 August 2021 with speakers:

1. Steven Goh, CEO, Achiko AG

2. Dr Morris S. Berrie, President, Achiko AG

3. Windiaprana Ramelan, Senior VP Operations Asia, Achiko AG

4. Dr Michael Edel, Inventor, AptameX

5. Arief Pramuhanto, President Director (CEO), PT Indofarma Tbk

6. Wanda Hamidah, Health & Lifestyle Influencer

7. Raymond Tambunan, Psi., MSos., Psychologist

8. Professor Amin Soebandrio, Dr, PhD, SpMK(K), Head of Eijkman Institute of Molecular Biology

9. Dr Winda O. Panjaitan, Moderator

At the event, Achiko AG was pleased to announce the approval of their AptameX diagnostic test for Covid-19, developed with a world leader in diagnostics and stem cell research. This product, which obtained a marketing permit granted by the Indonesian Ministry of Health with Circulation Permit Number AKD 20303121654 on 13 August 2021 and as such is now approved and registered for immediate use, is a new test with considerable advantages that enables mass testing. The test is based on a new chemistry involving DNA aptamers instead of costly enzymes and Achiko AG are delighted that the diagnostic kit has received approval allowing for immediate roll-out; Achiko AG’s aim is to help contain the spread of the virus through continuous accurate detection. Developed and clinically trialed in Pekan Baru, Indonesia, the test results show sensitivity figures that are superior to a typical lateral flow rapid test.

“We are proud and pleased to receive approval for the groundbreaking AptameX test kit. Introducing AptameX to the market with PT Indofarma Tbk is a great achievement for us,” said Steven Goh, CEO of Achiko AG. “With the projected vaccination rate and the possible mutation of the Covid-19 virus, the next few years may be very challenging not only for Indonesia, but also for the whole world. The combination of AptameX and Teman Sehat provides a solution for the entire community to carry out easy-to-use tests at affordable prices as well as digital passport services that will empower them in the fight against Covid-19 and all its variants.”

The advantages of AptameX to both PCR testing and current lateral flow rapid tests are obvious:

  • AptameX is fast, with results in 10 minutes; this is identical to all lateral flow rapid tests;
  • AptameX is non-invasive, easy-to-use and involves a saliva-based test that produces a digital passport which is made available to a mobile phone in minutes;
  • AptameX is affordable; equivalent to the cost of a simple lunch;
  • AptameX is accurate with 80% sensitivity at a CT score of 28.3, and;
  • AptameX is synthetic. Millions of tests can be produced which is simply not practical for RT-PCR tests.

A global priority: update testing

Achiko AG’s efforts can be placed in a context that goes beyond Indonesia. For instance, the mandate of the USA’s FDA is to update testing as a priority next year and Achiko AG stated a compelling case for AptameX. PCR testing is neither suitable nor practical for mass testing; the numbers are irrefutable. The results can alone take up to 72 hours to be returned. Only 400-600 million RT-PCR tests can be produced worldwide each month. Additionally, RT-PCR tests are expensive, costing around a minimum of USD 80-100 per test which is at least 40 times as expensive as AptameX. The conclusion is clear: AptameX, thanks to its scalability, can achieve what RT-PCR tests cannot, namely mass testing – and at a significantly lower price.

This is important because epidemiologists and virologists increasingly agree that to sustainably manage the pandemic, we need both vaccination and accurate mass testing, enabling us to rapidly isolate infected individuals to contain and prevent the spread of the virus. AptameX improves current protocols by the very factor epidemiologists and virologists are looking for.

Dr Morris S. Berrie, President of Achiko AG, commented, “Our team is relentless in their commitment to developing our technology for rapid and affordable diagnostic testing, for Covid-19 and other indications to come. AptameX is designed to be easy to use and affordable, and therefore accessible to anyone. We believe AptameX and our digital passport technology platform, Teman Sehat, will be important diagnostic resources for years to come.”

Consequently, Achiko AG are positioning themselves as an enabler to what RT-PCR can do, i.e. be the WHO accepted gold standard, but also as an enabler of what PCR can’t do: test Indonesia’s population of 270 million people four times a month.

The second driver of success: early detection

The use of testing as a means to control Covid-19 requires detection of the virus at an early stage when infected individuals are already highly contagious – and that in itself is a problem. The average person who becomes infected with Covid-19 begins spreading the virus at a time when he or she is not yet symptomatic, and the viral load is so low that it is virtually undetectable with current rapid tests. At the moment, only an RT-PCR test with a CT value of 28 can prove that such a person is infected. This is because even the best published rapid lateral flow test has only 11 % sensitivity at such a CT value. AptameX, on the other hand, is 77.6% sensitive at a CT value of 28.3; more specifically, AptameXreports a sensitivity of 77.59% (95% CI: 75.94 – 79.24).

To illustrate this more clearly: the difference in a PCR test with a CT score of 18 versus 28 represents an accuracy that is 1,024 times greater. AptameX is possibly a thousand times more sensitive than a typical rapid test.

The world needs AptameX

Speakers on the talk show emphasized the need for citizens to undergo frequent testing as a safety measure so that they can live the “new normal” and go about their daily activities.

“Achiko Medika Indonesia plans to commence production of its introductory AptameX Covid-19 test kits over the next two months. A mainstream, consumer-friendly AptameX test kit is expected to be available to Indonesians by the fourth quarter of this year”, stated Windiaprana Ramelan, Senior VP of Operations, Asia of Achiko AG. “Users will be able to easily conduct testing by rinsing with a mouthwash, collecting a saliva sample and dropping it off at a partner clinic or hospital which will then deliver the test results to their smart phone in minutes through our digital passport technology platform, Teman Sehat. AptameX was strategically designed to utilise ultra-low-cost materials allowing for lower production costs, which enables Achiko Medika Indonesia to initially price AptameX below IDR 50,000 (~USD 3.45). Achiko Medika Indonesia anticipates an even lower cost of testing in the future as manufacturing and distribution efficiencies are captured.”

PT Indofarma Tbk’s President Director, Arief Pramuhanto, stated, “Regular testing is very important in dealing with the pandemic. AptameX is a Covid-19 diagnostic test kit produced domestically by and for the people of Indonesia. We hope that the issuance of permits for AptameX products can help in overcoming the pandemic in Indonesia. Achiko AG’s saliva-based diagnostic test has been designed to be integrated into normal dental hygiene rituals and therefore can easily become part of the daily routine. With the population having access to reliable testing, we can create pathways that will allow us all to lead normal lives again and at the same time we work to control the spread of Covid-19. PT Indofarma Tbk, in partnership with Achiko AG, aims to make this diagnostic test available at an affordable price for everyone. AptameX’s cost, scalability and performance will help Indonesia better manage Covid-19.”

The world needs AptameXfor regular, accurate, cheap and readily available mass testing.

Learn more about how to use AptameX test kits: https://bit.ly/APTXINA.

ABOUT ACHIKO AG

Achiko creates and develops new innovations in healthcare technology through its biotechnology division, AptameXTM, and its sister digital mobile health technology division, Teman SehatTM. The Company has created a unique healthtech capability that provides user-friendly diagnostic testing integrated with a digital passport solution for the management of Covid-19.

AptameXTM comprises of DNA aptamer-based technology that is cost-effective, chemically synthesised and widely applicable to the evolving diagnostic field of healthcare. Together with the digital mobile health app Teman SehatTM, Achiko is developing potential technologies that seek to deliver rapid, affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications. The AptameXTM technology is licensed from Regenacellx.sl and Achiko has exclusive commercialisation rights.

Headquartered in Zurich, Achiko has offices in Hong Kong, Jakarta, Seoul and Singapore.

Further information can be found at www.achiko.com.

ABOUT PT ACHIKO MEDIKA INDONESIA

Achiko AG and PT Indonesia Farma Medis (“IFM”) have established the joint venture company PT Achiko Medika Indonesia (“AMI”) for the production and marketing of its testing platform developed from AptameXTM, a non-invasive DNA aptamer technology for the detection of Covid-19, for Indonesia. Its partner, IFM, is a medical device and pharmaceutical distribution company with a large network of relationships and distribution channels that includes hospitals, pharmacies and clinics across the main islands of Indonesia.

Further information can be found at https://achikomedika.com.

ABOUT PT INDOFARMA TBK

PT Indofarma TBK is one of Indonesia’s oldest pharmaceutical companies that was founded in 1918 and in January 2020 became part of the BUMN Farmasi Holding.

PT Indofarma TBK continues to support the Government of the Republic of Indonesia programs in the health sector and contribute to improving health status and a better quality of life by committing to provide medicines with guaranteed quality and affordable prices for the community. In addition, the Company also supports the efforts of the government of the Republic of Indonesia in accelerating the handling of the Covid-19 pandemic by providing pharmaceutical products and medical devices, as well as health services. To date, Indofarma has had 321 distribution licenses for medicinal products and medical devices with distribution coverage spread across 29 branches throughout Indonesia.

Further information can be found at https://indofarma.id.

#Achiko

SunMirror AG Agrees to Acquire Latitude 66 Cobalt Oy with its advanced battery metals portfolio to strengthen its position as Europe’s ‘Green Metals’ company

  • SunMirror expands business activities to Finland, one of the most attractive mining areas in the world
  • Agrees to acquire the largest exploration tenement holding in Finland, including the second largest undeveloped cobalt resource in Europe
  • Post-transaction SunMirror to hold a highly prospective portfolio of battery metals projects in Australia and Finland
  • Investor focus builds around traceable raw materials for energy, mobility and tech sectors
  • Management leverages long-standing successes at commercialising strategic commodities

ZUG, SWITZERLAND – EQS Newswire – 26 August 2021 – SunMirror AG (“SunMirror”; XETRA Vienna: ROR1; ISIN CH0396131929), a exploration company specialising in mineral resources such as gold, lithium, cobalt and other metals and minerals powering future industries, continues to successfully pursue its expansion strategy during the Covid 19 pandemic.

The Company has today announced that it has, via its wholly owned subsidiary, SunMirror Luxembourg S.A. (“SM S.A.”), agreed to acquire Finnish cobalt company Latitude 66 Cobalt Oy (“Latitude 66”) with focus on exploration and mine development with its business operations located in Finland.

Founded 4 years ago, Latitude 66 is one of the leading explorers of cobalt in Europe and controls the largest exploration tenement package of any single company in Finland, currently in excess of 9,000 square kilometres. Latitude 66’s most advanced mine development project is the fourth largest known cobalt deposit in the European Union (“EU”) and the second largest not yet in production. In addition, Latitude 66 has an extensive exploration portfolio with over 100 targets identified for further exploration.

The expected purchase price payable to the Parent will be EUR 45 million, payable in cash on closing, and SM S.A. has agreed to a 2% net smelter royalty on future production. The Board of Directors of SunMirror and the Board of Directors of Latitude 66’s parent company Latitude 66 Cobalt Limited (“Parent”) have already approved the sale of Latitude 66 to SM S.A. The conditional binding agreement in respect of the acquisition of Latitude 66 contains an alternative completion structure which, subject to satisfaction of certain conditions, provides SM S.A. with the ability to propose a takeover offer of the Parent in accordance with applicable Australian corporations laws. The completion of the acquisition of Latitude 66, or a takeover bid if one is subsequently announced by SM S.A., is subject to completion by SunMirror of a capital raising of EUR 70 million and other customary conditions.

Current resource estimate for Latitude 66’s K Camp project according to Mineral resource classification JORC is 16,490 tonnes cobalt and 725,000 oz gold contained. The average grade for cobalt is 0.064%, which is the highest of the five largest known cobalt resources in the EU, and the average gold grade is 2.7g/t. Finland is the largest refiner of cobalt and nickel in Europe and the second largest of cobalt in the world after China, which has a market share of around 80 percent. Furthermore Finland is currently the only country in the EU with mines producing Cobalt today. A fully European supply chain for batteries will significantly reduce CO2 and other emissions in the manufacturing process of electric vehicles and other batteries. Domestic supply of key battery minerals will significantly reduce strategic and geopolitical risks for European companies.

SunMirror focuses on exploration and mine developments in areas known for their high geological potential and where some of the world’s most productive mines and mineral deposits are located. SunMirror, which has prospective resource projects in Australia, with the acquisition of Latitude 66 holds a highly prospective portfolio of battery metals projects in the world’s premier mining jurisdictions. SunMirror is targeting to supply the European economy with cobalt and other raw materials and metals such as lithium from sustainable, stable and legally secure sources, while complying with laws, regulations and ESG requirements.

The EU recently affirmed, as part of the launch of its European Green Deal, which presents Europe’s new growth strategy and sets out a roadmap for achieving climate neutrality by 2050, that not having access to critical raw materials or being overly dependent on individual suppliers would undermine Europe’s ability to become an industrial leader in new technologies. In order to achieve the EU’s climate neutrality goal, it is important not to create a new dependency of these critical raw materials on uncertain third countries in terms of legal certainty, working conditions and environmental standards.

Dr. Heinz Rudolf Kubli, Member of the Board of Directors of SunMirror AG, explains his views about the acquisition’s significance:

“It is more important than ever for European industry to have direct access to raw materials for future technologies with independent supply chains. With access to highly attractive cobalt projects in Finland, SunMirror can meet the EU’s requirements for critical raw materials and contribute raw material security. Through the acquisition of Latitude 66 SunMirror is excellently positioned to provide raw materials and is thus a strategic partner for the digital transition in Europe. Our aim is to provide crucial raw materials like cobalt for battery tech, which are indispensable for the implementation of next-gen electro-mobility, and the expansion of renewable energies. We are differentiated by a transparent, traceable and sustainable framework. As a raw material supplier, we want to make our contribution to decarbonising the entire value chain, responsibly – ahead of industry peers.”

Latitude 66 is a member of the Finnish government project “BATTRACE”. This initiative is dedicated to the traceability of battery materials and the production processes used to extract metals from ores and refine them into high-quality raw materials for battery material manufacturers. SunMirror is also developing a blockchain technology solution for enhanced traceability. This will transparently document the source of raw materials and the conditions of the extraction process in a tamper-proof manner and be made available to third parties for the calculation of ESG criteria. The traceability of the raw materials ensures that the extraction of the materials is ESG-compliant and not at the expense of environmental standards, labour law and conditions or through illegal overexploitation.

For the avoidance of doubt, this announcement does not constitute an intention to make a takeover bid for the purposes of section 631 of the Corporations Act 2001 (Cth).

SunMirror has already received commitments for significant capital injections in the past and considers itself well positioned for further growth on this basis. In addition, further investors have recently expressed their interest to SunMirror with a share price close to the market price in supporting the future growth of the company.

Webcast on 27 August 2021

SunMirror AG invites media representatives and institutional investors to a conference call with accompanying presentation on the internet. Among other things, the company will explain details of the transaction and the company’s prospects.

The webcast will take place on 27 August 2021 at 09:00 am.


Interested parties can obtain the necessary access data at dkaufmann@edicto.de.

About SunMirror AG

SunMirror is a natural resources holding company with a strategic focus on traceable, responsibly sourced battery metals – the metals and minerals whose demand is driven by sustainable next-generation technologies. The company’s shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (ticker: ROR1) and the Düsseldorf Stock Exchange. For further information, please visit: www.sunmirror.com.

#SunMirror

About Latitude 66 Cobalt Limited

Australian mining company Latitude 66 Cobalt Limited with business activities in Finland is one of the leading exploration companies for Cobalt in Europe and has promising exploration and mine development projects in Finland. For further information, please visit: https://lat66.com/en

SF REIT Announces First Set of Interim Results after Listing

Operational Performance Poised to Benefit from Strong Demand for Modern Logistics and Warehousing Properties

Operational Highlights for the Reporting Period From 29 April 2021 (“Date of Establishment”) to 30 June 2021

  • Revenue and net property income for the Reporting Period were HK$50.7 million and HK$42.2 million, respectively.
  • Total appraised value of the Properties was HK$6,446.0 million as at 30 June 2021, up by 5.7% as compared to the last valuation as at 31 March 2021.
  • Steady operating performance with average occupancy rate of the Properties maintained at 95.7%.
  • Long term leases with SFH Group tenants provide high degree of income stability.
  • SF REIT will continue to work closely with SFH Group to pursue acquisition opportunities.

HONG KONG SAR – Media OutReach – 26 August 2021 – SF Real Estate Investment Trust (“SF REIT“, SEHK: 2191), the first logistics-focused REIT listed in Hong Kong, announces its first set of interim results for the period from 29 April 2021 (Date of Establishment) to 30 June 2021 (the “Reporting Period”).

SF REIT recorded a revenue and net property income of HK$50.7 million and HK$42.2 million, respectively during the Reporting Period. Income available for distribution amounted to HK$26.7 million. Total independently appraised value of the Properties was HK$6,446.0 million as at 30 June 2021, up by 5.7% as compared to the last valuation as at 31 March 2021.

Strong Demand for Modern Logistics and Warehousing Support

SF REIT’s current property portfolio comprises three properties located, respectively, in Hong Kong (the “Hong Kong Property“), Foshan (the “Foshan Property“) and Wuhu (the “Wuhu Property“) (collectively, the “Properties“). All of them are modern logistics properties comprising distribution centres equipped with automatic sorting and supply chain support facilities and located strategically within the key logistics hubs in Hong Kong and Mainland China.

SF REIT is poised to benefit from the growth of the e-commerce market in Hong Kong and Mainland China which has witnessed rising demand for comprehensive logistics and warehousing support for merchandise storage and distribution. The outbreak of the COVID-19 pandemic has also accelerated structural changes in consumers’ spending habits and retailers’ supply chain management, driving retailers and suppliers to modernise and improve their logistics facilities and capabilities accordingly.

Stable Tenant Base, High Income Stability

As at 30 June 2021, the average occupancy rate of the Properties was 95.7% with that of the Hong Kong Property, the Foshan Property and the Wuhu Property recording 92.6%, 100.0% and 97.9% respectively.

The Properties housed a total of 32 tenants, with the controlling unitholder SF Holding Co. Ltd. and its subsidiaries (collectively “SFH Group“) occupying 80.0% of the gross lettable area (“GLA“) and contribute approximately 76.6% of the total gross rental income for the Reporting Period. Approximately 86.1% of the tenants (in terms of GLA) were from the logistics sector and the remaining tenants included those from the pharmaceutical, food supply and other sectors. The Properties had a weighted average lease expiry of 4.4 years by GLA as at 30 June 2021.

As at 30 June 2021, the Hong Kong Property housed a total of 8 tenants with approximately 65.9% of its GLA leased to the SFH Group. As at 30 June 2021, the Foshan Property was substantially leased to the SFH Group which was operated mainly as a modern logistics property for regional distribution purposes while the Wuhu Property housed a total of 22 tenants, with approximately 89.1% of the property’s GLA leased to the SFH Group.

All subsisting leases to the SFH Group are for a term of five years commencing 1 May 2021 and the rent payable under these leases is fixed for each of the term, with a yearly increment of 3% to 5% depending on the location of the Property. Given certain facilities were specifically built to suit the operational needs of the SFH Group, this arrangement is mutually beneficial and provides a high degree of income stability to SF REIT.

First distribution to be paid by End of May 2022

SF REIT is required by its trust deed to distribute to Unitholders an amount of no less than 90% of SF REIT’s annual distributable income for each financial year. For the first year of its listing, as disclosed in the offering document, SF REIT intends to distribute 100% of the annual distributable income for the period from the listing date to 31 December 2021 by the end of May 2022.

Hong Kong and Mainland China Policies Expected to Drive Logistics and e-Commerce Markets

While the global economy is still clouded by the unstable pandemic situation, it is expected that favourable government policies in Hong Kong and Mainland China will continue to encourage the growth of the modern logistics property market. SF REIT will continue to work closely with the SFH Group to pursue acquisition opportunities of modern logistics properties with income and capital growth potential, be they derived from the SFH Group or from third parties, to provide sustainable returns to Unitholders and to enhance asset value.

About SF Real Estate Investment Trust

SF REIT is the first logistics-focused REIT listed in Hong Kong. SF REIT’s portfolio initially comprises three properties in Hong Kong, Foshan and Wuhu, all of which are modern logistics properties comprising distribution centres equipped with automatic sorting and supply chain support facilities, strategically located within the key logistics hubs in Hong Kong and the PRC.

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Dr. Ko Lai Hung, Chairman of Accel Group, was Awarded the “Outstanding Entrepreneur of Social Responsibility 2021”

Taking Lead to Give back to the Society, Integrating Business Decisions into Social Development

HONG KONG SAR – Media OutReach – 26 August 2021 – Accel Group Holdings Limited (Stock code: 1283.HK, “Accel Group” or the “Group”) is pleased to announce that, Dr. Ko Lai Hung, the Chairman and Chief Executive Officer, was awarded the “Outstanding Entrepreneur of Social Responsibility 2021” by Hong Kong Commercial Daily, demonstrating Dr. Ko Lai Hung’s dedication and contribution to the society, which is well recognized and recognized by the society.

The “Outstanding Entrepreneur of Social Responsibility 2021” is organized by Hong Kong Commercial Daily, one of the oldest Chinese-language financial newspaper in Hong Kong, and is supported by over 20 chambers of commerce and business alliances including the Chinese General Chamber of Commerce, which aims to recognize the achievements and contributions of business entrepreneurs in fulfilling their corporate social responsibilities. The assessment representatives consist of well-known political and business people, including members of the National Committee of the Chinese People’s Political Consultative Conference, the Dean of Business School from a number of local universities and colleges in Hong Kong and the Editorial Board of the Hong Kong Commercial Daily, etc., to make a comprehensive assessment of the Group’s policy, employee care, social care, environmental sustainability and value innovation, and select entrepreneurs who have made outstanding social achievements through a rigorous selection process. These rigorous selection processes and the composition of authoritative assessment representatives demonstrate the integrity and score of the awards.

The award ceremony of the “Outstanding Entrepreneur of Social Responsibility 2021” was held at InterContinental Grand Stanford Hong Kong. Dr. Ko Lai Hung, Chairman and Chief Executive Officer of Accel Group, stood out among outstanding entrepreneurs in the community for his outstanding achievements and contributions. He was recognized by all sectors of society and was awarded jointly by Mr. Kwok Chun Yau, a second-level inspector of the Economic Department of the China Federation of Trade Unions, and Dr. Allen Shi Lop-tak, BBS, MH, JP, President of the Chinese Manufacturers’ Association of Hong Kong, at the award ceremony.

The sustainable development of an enterprise is not only limited to its operation, but also needs to fulfill its social responsibilities. Dr. Ko LaiHung has spent no effort to serve the community and give back to the society for many years, from business operation to social life. In terms of corporate operation, Dr. Ko LaiHung and all staff of Accel Group have been focusing on energy saving and efficiency enhancement of electrical and mechanical engineering works. In addition, the Group established a wholly-owned subsidiary, Accel Green Building Limited, to promote clean energy, energy saving and carbon reduction related businesses. From the perspective of social sustainable development, the Group have formulated and adjusted the Group’s business decisions and directions in a reasonable manner, and integrated social responsibility into the Group’s business layout. At the same time, Dr. Ko LaiHung also played an active role in public welfare and anti-epidemic support activities, leading the staff of Accel Group to distribute anti-epidemic bags to the elderly in Tsuen Wan District, and also donated to support the anti-epidemic and Construction Industry Caring Campaign – Fight against COVID-19, and connecting the representatives of the industry to distribute anti-epidemic supplies to a few 100,000 construction workers in Hong Kong; He was also the president of the Hong Kong Pingtan Clansmen Association and was awarded the “Gold Medal for Humanity” by the Fujian Red Cross for his generous donation and donation of a large amount of anti-epidemic supplies to the frontline medical staff during the most deficient epidemic supplies. Dr. Ko LaiHung’s ability to receive the above awards would not have been possible without giving the society an opportunity for Accel Group to grow, but will also become the key pillar for Dr. Ko LaiHung to set a good example, inspiring all the staff of Accel Group towards sustainable development.

Dr. Ko Laihung, Chairman and Chief Executive Officer of the Group, said, “We are honored to receive the Honors and Awards, which brings all the efforts of the entire staff of Accel Group and the recognition from all walks of life. Today, this honor is not only an intensification but also a new start. Sustainable development is an inevitable trend in the current situation. Looking ahead, the Group will also take the responsibility of supporting the development of the society, actively explore more appropriate operation methods to promote business development, and integrate the awareness of sustainable development and social responsibility into the Group’s business strategy and culture, actively assume and perform corporate responsibility, and wish to work together with all parties to give back to the society.”

About Accel Group Holdings Limited (Stock code: 1283.HK)

Accel Group Holdings Limited (the “Group”) listed on the Main Board of the Stock Exchange of Hong Kong Limited in 2019. It is an electrical and mechanical engineering services provider with good track record. Its key customers are famous developers and architectural firms in Hong Kong. The Group has established experience in several significant construction projects for famous developers and architectural firms in Hong Kong. The Group is mainly engaged in installing electrical and mechanical facilities for various developers, including the installation of air-conditioning system, drainage system, water supply, swimming pool and fountain system, electrical and control system as well as smart electrical control system in buildings. The Group is committed to providing quality electrical and mechanical engineering services. At the same time, Accel Group continued to expand its business, and its wholly-owned subsidiaries, Accel Green Building Limited and Accel Innovative Technology Limited, are committed to creating business opportunities for the Group in terms of energy-saving environment and smart city construction.

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