Laos is to join a monthly meeting previously held between Thailand and China that will review updates on the progress of a plan to connect the Thai-Chinese high-speed rail system in Thailand with Laos.
Jacobson Pharma Announces FY2021 Annual Results
Declares Final Dividend of HK1.5 Cents Per Share; Resilient Performance Albeit Market Challenges
HONG KONG SAR – Media OutReach – 29 June 2021 – Jacobson Pharma Corporation Limited (“Jacobson Pharma” or the “Company”; Stock Code: 2633), a leading company engaging in the research, development, production, marketing and sale of essential medicines, specialty drugs and branded healthcare products, today announced the annual results of the Company and its subsidiaries (collectively the “Group”) for the year ended 31 March 2021 (the “FY2021” or the “Reporting Period”).
During the Reporting Period, the economy was hit hard by the pandemic with retail consumption stalled due to various social distancing measures and travel restrictions. At the continual impact of the pandemic on its businesses, the Group made total revenue of HK$1,445.9 million in the Reporting Period, dropped narrowly by 8.0% against the previous year. Mitigated by the impact relief and cost-saving measures, profit attributable to shareholders softened by 19.4% to HK$173.7 million.
The Board has recommended payment of a final dividend of HK1.5 cents per share (FY2020: HK2.5 cents per share). Including the interim dividend of HK0.8 cent per share already paid and a special interim dividend made by the Company on 5 February 2021 in the form of distribution in specie based on 1 share in JBM (Healthcare) Limited (“JBM Healthcare”; Stock Code: 2161) at HK$1.20 per share for every 8 shares held by the shareholders of the Company which represented a distribution of approximately HK15 cents per share, the total dividend for FY2021 would be HK17.3 cents per share (FY2020 total dividend: HK4.5 cents per share).
Steady Growth of Generic Drugs Business in Public Sector
The generic drugs business of the Group recorded revenue of HK$1,048.8 million in the Reporting Period, with the public sector business reporting steady growth but offset by a drop in sales momentum of the private sector business considerably dampened by infection control measures under the pandemic.
The Group’s offerings in certain therapeutic classes saw solid growth, with oral anti-diabetics and gastrointestinal product classes registering a growth of 28.3% and 26.0% respectively in the public sector, mainly attributable to the realisation of tendering business plus increased usage of these essential medicines in respective disease management. In addition, the Group’s angiotensin-converting enzyme inhibitor class and angiotensin II antagonist class of cardiovascular products achieved robust sales growth of 62.2% and 33.6% respectively, alongside an increase in the public sector consumption of antihypertensive drugs.
In the Reporting Period, the Group launched a number of new products including Arsenic Trioxide Oral Solution, Dihydrocodeine Tablet, Perindopril Tablet, Atomoxetine Capsule, Rosuvastatin Tablet, and Hydroxychloroquine Tablet. Among these, Arsenic Trioxide Oral Solution is the first ever Arsenic Trioxide approved in Hong Kong for the treatment of Acute Promyelocytic Leukaemia.
The Group also signed in-license regional agreements with reputable manufacturers in Europe and South Korea for a total of 15 specialised drugs covering the central nervous system, infectious diseases, gastrointestinal, and other therapeutic classes.
Resilient Performance of Branded Healthcare Business
The branded healthcare business of the Group recorded revenue of HK$397.1 million during the Reporting Period, up by 4.1% year-on-year. The growth was mainly attributable to the robust sales of Hoitin (海天) in concentrated Chinese medicine granules products of the Orizen Group, coupled with the resilient performance of AIM Atropine Eye Drops and Flying Eagle Woodlok Oil albeit market challenges.
Distribution of Fosun BioNTech Comirnaty Vaccine in Hong Kong and Macau
The Group is the distributor of Fosun Pharma/BioNTech Comirnaty COVID-19 mRNA Vaccine (“Fosun BioNTech Comirnaty Vaccine”) in Hong Kong and Macau under an exclusive distribution agreement with Fosun Pharma Group. The Fosun BioNTech Comirnaty vaccination programme started in Hong Kong on 10 March 2021, and as at 31 May 2021, over 1.3 million doses of the vaccine have been administered.
Fosun BioNTech Comirnaty Vaccine is an mRNA based vaccine developed by German biotech company BioNTech SE with a clinically-tested efficacy rate of 95%. The Advisory Committee of the United States Centers for Disease Control and Prevention (CDC) has recently endorsed the safety and effectiveness of the vaccine and its use in 12-through 15-year-old adolescents, which represented important progress on COVID-19 infection control within the population.
Successful Spin-off of JBM Healthcare
The Group successfully spun off and separately listed its branded healthcare business, JBM Healthcare, on the Main Board of the Stock Exchange on 5 February 2021. After the spin-off and public listing, the Group holds 53.74% stake in JBM Healthcare in effect, which remains as a subsidiary of the Group.
JBM Healthcare is a Hong Kong-based branded healthcare company with a product footprint covering Greater China, Southeast Asia and other selected countries. It principally engages in the manufacturing and trading of branded healthcare products, comprising consumer healthcare products and proprietary Chinese medicines. The spin-off will create two distinct platforms for the Group and JBM Healthcare to enhance their strategic focuses and sharpen the execution of their growth strategies respectively.
Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma, concluded, “Although market situations have been challenging, the Group has remained steadfast in delivering its growth strategies and fortifying its leadership in the generic drugs market in Hong Kong. In our collaborative fight against the pandemic, Jacobson took pride in playing a part in introducing the Fosun BioNTech Comirnaty Vaccine into the markets of Hong Kong and Macau. I am particularly thankful for the dedicated efforts of our professional pharmacist teams who worked diligently with our business partners in setting up the systems on regulatory compliance, pharmacovigilance and medical information dissemination for seamless execution of the vaccination program.”
“Looking ahead, with proven technological know-how, commercial strengths and priding operational excellence, the Group remains confident in delivering sustainable growth and creating values to our shareholders in the long term.”
About Jacobson Pharma Corporation Limited (雅各臣科研製藥有限公司;Stock Code: 2633)
Jacobson Pharma is a leading pharmaceutical company in Hong Kong vertically integrated with the research, development, production, sale and distribution of essential medicines and specialty drugs. As a major provider of generic drugs in Hong Kong, the Group has one of the most extensive sales and distribution coverage for both the private and public market sectors in Hong Kong, with an expanding reach into strategically selected Asian markets. Carrying a broad product portfolio and taking a pre-eminent market position in a number of therapeutic categories, the Group operates a host of 10 PIC/S GMP licensed production facilities for generic drugs in Hong Kong.
The Group aims at the continued strategic enrichment of its generic drug portfolios through the addition of high value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group’s website: http://www.jacobsonpharma.com
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JBM Healthcare Announces FY2021 Annual Results
Adjusted Net Profit* Increases by 13.3% to HK$54.6 Million
HONG KONG SAR – Media OutReach – 29 June 2021 – JBM (Healthcare) Limited (“JBM Healthcare” or the “Group”; Stock Code: 2161), a leading branded healthcare products marketer and distributor in Hong Kong, has announced today the first annual results of the Group after its spin-off listing on the Main Board of The Stock Exchange of Hong Kong Limited on 5 February 2021.
Despite the unprecedented challenges due to the COVID-19 pandemic, the Group posted a total revenue of HK$397.2 million during the year ended 31 March 2021 (“Reporting Period”), representing a growth of 4.1% from last year. Before taking into account the one-off listing expenses, the adjusted net profit* increased by 13.3% to HK$54.6 million when compared with last year. Basic earnings per share was HK2.78 cents.
Resilient Performance Driven by Strong Product Portfolio
JBM Healthcare carries a robust and broad portfolio of branded healthcare products in the segments of branded medicines, proprietary Chinese medicines, and health and wellness products.
As for the proprietary Chinese medicines (“PCM“) business, sales revenue notably increased by 14.6% to HK$210.9 million, driven by the buoyant performance of Hoitin (海天) concentrated Chinese medicine granules products, alongside a 16.8% revenue growth on Flying Eagle Woodlok Oil (飛鷹活絡油) attributed to a broadened sales penetration in China.
During the Reporting Period, the Group has enriched its PCM product portfolio to include third-party brands, namely Angong Niuhuang Wan (安宮牛黃丸) and Ganoderma Spores (靈芝胞子), to exploit the potential demand of the Chinese market.
The branded medicines business of the Group recorded revenue of HK$134.5 million during the Reporting Period, representing a drop of 5.4% from last year. Among its well-established brands, sales of AIM Atropine Eye Drops delivered year-on-year growth of 9.7% despite the disruption by the COVID-19 pandemic on the consultation visits of children to hospitals and ophthalmologists.
For health and wellness products, sales revenue recorded a moderate decline of 6.3% during the Reporting Period under the impact of the COVID-19 outbreak. This product segment comprises supplements, personal care products, as well as diagnostic for the general health and wellness of consumers. Among these, the demand for personal hygiene and infection control products within the segment surged. As part of its strategy to further enhance its health and wellness product offerings, the Group launched the Dr. Freeman® product series, a health and wellness product line, in response to the growing market demand for infection control and personal hygiene products.
Establishment of Flagship Online Stores
To tap the potential of fast-growing PRC cross-border e-commerce, the Group has established self-operated flagship online stores on Tmall Global Marketplace (天貓賣場型旗艦店) and JD-HK Open Platform (京東國際開放平台店舖) with an expanded selection of more than 40 branded quality healthcare products for Chinese consumers. JBM Healthcare has set up its own e-commerce team in Shenzhen, the PRC, providing direct operational and customer service support for its online flagship stores.
Formation of a Joint Venture with Tycoon Group
The Group has entered into collaboration agreements with Tycoon Group Holdings Limited (“Tycoon Group”; Stock Code: 3390) in a bid to leverage synergies in the market segments of PCM, Chinese healthcare and supplement products. Through this strategic co-operation, the Group is to develop and/or manufacture own-brand products to cater to market trends and consumer needs via a joint venture company newly-formed by the parties to provide distribution, strategic marketing and sales support for these products. The own-brand products are expected to be launched in the third quarter of 2021.
Mr. Patrick Wong, Chief Executive Officer of JBM Healthcare, said, “2020 has set off with a rough ride. Against the backdrop of the pandemic, we remained steadfast with our resolve to navigate the impact of COVID-19 on our business. Thanks to the robust commitment of our team in delivering the strategies, along with our diversified portfolio of offerings and geographic markets, we managed to sustain a resilient performance albeit the market challenges. Moving forward, we will continue to strengthen our commercial capabilities both offline and online, enrich our portfolio targeting unmet healthcare needs, expand our core market coverage in Greater China and Asia, and fortify our collaboration with strategic partners – to strengthen our position as a key provider of healthcare solutions in the region.”
About JBM (Healthcare) Limited (健倍苗苗(保健)有限公司;Stock Code: 2161)
JBM Healthcare is a Hong Kong-based company that markets and distributes branded healthcare products across Greater China, Southeast Asia and certain other countries. The Group is a unique field player with marketing expertise and a drug heritage that prioritizes product efficacy and quality to meet consumers’ healthcare needs. As a renowned healthcare brand operator in Hong Kong, the Group carries a wide-ranging portfolio of branded healthcare products comprising branded medicines, proprietary Chinese medicines and health and wellness products, which include well-recognized household brands such as Po Chai Pills (保濟丸), Ho Chai Kung Tji Thung San (何濟公止痛退熱散), Contractubex (德國秀碧除疤膏), Bite-X (德國寶寶手指水), Mederma Kids (美德瑪寶兒除疤膏), Tong Tai Chung Woodlok Oil (唐太宗活絡油), Flying Eagle Woodlok Oil (飛鷹活絡油), Saplingtan (十靈丹) and Shiling Oil (十靈油). For more details about JBM Healthcare, please visit: www.jbmhealthcare.com.hk
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Cushman & Wakefield Takes Home Top Honors Across Multiple Service Lines at the RICS Awards China 2021
HONG KONG SAR – Media OutReach – 29 June 2021 – Global real estate services firm Cushman & Wakefield has again been recognized for its leading service excellence and industry achievements at the Royal Institution of Chartered Surveyors (RICS) Awards in China. The firm took home a number of top honors.
K K Chiu, Chief Executive, Greater China, Cushman & Wakefield said, “Congratulations to our expert teams on their outstanding performance. This recognition at the RICS Awards China reflects our company’s steadfast commitment to client-centric service and industry innovation. Although 2021 is still a year with incredible challenges, we have together proven our resilience while elevating Cushman & Wakefield’s brand and leadership position in the industry to a new level. We will continue to maintain our momentum to deliver unmatched professional services and to lead the development of the CRE industry in China.”
Four Winners
- Professional Consultancy Service Team of the Year – Real Estate (Valuation & Advisory Services Team, Cushman & Wakefield)
- Research Team of the Year (Research Team, Cushman & Wakefield)
- Best Deal of the Year (Suntec Place Sanlin, formerly Shanghai Sanlin InCity, Capital Markets, Cushman & Wakefield)
- Real Estate Financing Innovation Achievement of the Year (Cainiao Logistics Infrastructure Quasi-REITs, a joint collaboration by Cainiao, the Valuation & Advisory Services team of Cushman & Wakefield, GSUM Fund Management and CITIC Securities)
Seven Certificates of Excellence
- Professional Consultancy Service Team of the Year – Real Estate (Consulting Team, Cushman & Wakefield)
- Commercial Project of the Year (Shanghai FTZ International Artwork Exchange Center (SFIAE), Project & Development Services, Cushman & Wakefield)
- Commercial Project of the Year (Columbia Circle Consultancy Services, Project & Occupier Services/Retail Services, Cushman & Wakefield)
- Regeneration Project of the Year (Planning of Downtown-Life-Circle Revitalization Around Chengdu 1st Ring Road, Consulting, Cushman & Wakefield)
- Best Deal of the Year (Beijing Indo Mansion Tower D, Capital Markets, Cushman & Wakefield)
- Sustainability Achievement of the Year (1788 SQUARE, Project & Development Services, Cushman & Wakefield)
- Real Estate Financing Innovation Achievement of the Year (Joint Venture Cooperative Project in Mawan District of the Qianhai Free Trade Zone, Valuation & Advisory Services, Cushman & Wakefield)
Three Finalists Awards
- Regeneration Project of the Year (Qingdao International Cruise Terminal Urban Renewal, Consulting, Cushman & Wakefield)
- Regeneration Project of the Year (Guangzhou Julong Bay Urban Regeneration and Industry Planning, Consulting, Cushman & Wakefield)
- Best Deal of the Year (Shanghai Fuyuan Landmark Plaza, Building 1, Capital Markets, Cushman & Wakefield)
About RICS China Awards
RICS Awards enjoys a high reputation in the global real estate and construction industries with over 20 years of history, aimed at rewarding excellent achievements by outstanding teams or projects, and their contributions to the built environment. Since its inception in China, the awards have successfully showcased the most inspirational initiatives and achievements in local land, real estate, construction and infrastructure development. The award series is widely recognized within the industry, with each category designed to showcase expert achievements and influence.
Photo download link: https://bit.ly/3qxTzGd
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About Cushman & Wakefield
Phonhong District Enters Lockdown to Curb Spread of Covid-19
Phonhong District in Vientiane Province is being placed under lockdown following an outbreak of Covid-19 in the district.
EDL Issues Statement on LAK 68 Million Electricity Bill
Electricite du Laos has made a statement after issuing a LAK 68 million electricity bill to a resident of Vientiane Capital.
NTT to create world’s largest connected stadium, generating a ‘digital twin’ of the Tour de France
The unique concept will bring together people, processes and technology over 3,400km ensuring the continuity and resilience of the race
HONG KONG SAR – Media OutReach – 29 June 2021 – NTT Ltd., the official technology partner to A.S.O., today announced it will create the world’s largest connected stadium, a concept unique to the Tour de France, generating a ‘digital twin’ of the event. Millions of data points will be collected and brought to life through stunning, insightful visualizations and digital experiences for fans, as well as new services to support the event operations for this three-week long race that takes place from 26 June – 18 July 2021.
Due to ongoing travel restrictions and COVID-19 safety measures, NTT, together with A.S.O., will deliver a host of digital experiences to engage fans around the world. This includes:
- Race Center – the official live tracking site that provides race updates including rider live tracking data on letour.fr and on the official Tour de France Mobile application
- LeTourData – data-driven insights and AI predictions on twitter, Instagram and TV broadcast
- 3D Tracker – an immersive augmented reality app that provides 3D views of the stages
- Tour de France Fantasy by Tissot – a fantasy sports game integrating data insights and machine learning (NTT predictor) to provide insights on the riders to watch
- NTT Media Wall – a rich media display at the race villages featuring data insights and visualisations from LeTourData, and live race updates
Creating a digital twin with IoT and Edge Computing
The Tour de France is a mobile stadium that picks up and moves every day for 21 days, across 3,400km visiting some of the most remote locations in France, from the picturesque countryside to the harsh landscapes of the Alpes and Pyrenees.
Creating a digital twin of the event will enable operations staff to gain real time visibility and ultimately streamline operations to ensure the continuity and resilience of the race. NTT will use a broad range of IoT sensors, edge compute and networks, integrated into NTT’s smart platforms and mapped against a geo-location model of each stage of the Tour. This will enable real-time visibility of key locations and assets, COVID-19 contact tracing and in-the-moment updates of caravan and race arrival times.
In another first for 2021, NTT will use real time analytics at the edge to provide immediate race data back to official race vehicles. This will deliver a live overview of the race situation, even in remote areas or the high mountains.
Peter Gray, Senior Vice President, Advanced Technology Group, Sport at NTT Ltd. commented: “The digitization of the Tour de France began in 2015 by capturing data from the cyclists to provide real-time updates. Every year we have been able to take the technology to the next level, this year we are creating what is essentially a digital twin of the event. It’s a highly dynamic and changing environment that requires immediate access to information to ensure continuous and smooth operations, resulting in more informed and engaged fans.”
Connectivity at the core, securely enabled by cloud
By providing a truly hybrid environment of physical servers, virtual servers, containers, and serverless functions for different workloads, all deployed via automated Infrastructure as Code, NTT is able to support this broad array of fan and operational services for A.S.O. This will all be monitored by NTT’s Services Portal and a global team of experts connected via NTT’s Managed Collaboration Service, facilitating the demand to be better connected, no matter where the race is staged and regardless of where computing, applications and users reside.
Creating a digital twin of the race also means greater connectivity of devices and vehicles, as well as more applications and platforms accessing services hosted in the cloud – whether public, private or hybrid. Whatever the host, for A.S.O., data will be at the core. This not only includes understanding where different data lies, but how to gather it and use it effectively to create better experiences, whether it be the fans, the media, or the cycling teams.
Gray continues: “A recurring theme for many organisations as they navigate the pandemic is how to ensure their customers’ changing needs and requirements are met. The ability to adapt has been at the heart of our seven-year partnership with A.S.O. We’re helping to constantly innovate the Tour de France, an event millions of passionate fans from around the world eagerly anticipate. Each year the stakes increase as we create new ways to reach and engage more people in new and exciting ways, which is no easy feat when you consider the complexity of the race.”
Yann Le Moenner, Chief Executive, A.S.O. commented: “Technology plays a vital part in helping us innovate at the speed fans expect from their mobile and cloud-based applications, all the while providing event insights, rich analytics and intelligent digital solutions. Since 2015, we’ve brought a whole host of digital enhancements to the event to create the best ‘connected fan’ experience. This year is no different, delivering a data-driven experience across any device, wherever you are in the world. “
About NTT Ltd.
NTT Ltd. is a leading global technology services company. We partner with organizations around the world to shape and achieve outcomes through intelligent technology solutions. For us, intelligent means data driven, connected, digital and secure. As a global ICT provider, we employ more than 40,000 people in a diverse and dynamic workplace that spans 57 countries, trading in 73 countries and delivering services in over 200 countries and regions. Together we enable the connected future. Visit us at hello.global.ntt
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About A.S.O.
Amaury Sport Organisation is a company that owns, designs and organises top international sporting events. Specialised in the ‘non-stadia’ events, it has in-house knowledge of professions linked to organisation, media and sales of sports events. A.S.O. organises 240 days of competition per year, with 90 events in 25 countries. A.S.O. is involved in 5 major sports including cycling with Le Tour de France, motor sports with the Dakar, sailing with the Tour Voile, mass events with the Schneider Electric Marathon de Paris and golf with the Lacoste Ladies Open de France. Amaury Sport Organisation is a subsidiary of the Amaury Group, media and sport group that owns the newspaper L’Equipe.
Chubb appoints Mari Rachelle Canta as new Country President for the Philippines
SINGAPORE – Media OutReach – 29 June 2021 – Chubb announced today the appointment of Mari Rachelle [Cielo] Canta as the new Country President for the Philippines with effect from 1 July. She replaces incumbent, Peter van Ratingen who has been appointed to the role of Head of Consumer Lines for Australia and New Zealand.
In her new role, Ms. Canta will oversee the operations and business development activities of Chubb’s key business lines in the Philippines namely, Property & Casualty as well as Accident & Health Insurance. She is also responsible for the management of regulatory relationships, strategic partnerships and affinity relationships. She will report to Edward Ler, Chubb’s Head of Southeast Asia.
Ms. Canta joined Chubb in 2017 as Chief Financial Officer for the Philippines. Her well-balanced acumen on all facets of finance, planning and controllership as well as operational risk is complemented by her strong general management skills. Prior to joining Chubb, she worked for a decade with AON, moving to roles of increasing responsibility in the Philippines as well as Singapore. She has had extensive experience in the banking sector, from M&A integration to board and senior leadership team responsibilities. The strong foundation for her career began when she started as an auditor and advisor at one of the large international accounting firms.
On this new appointment Paul McNamee, Chubb’s Regional President for Asia Pacific said, “Cielo is a strategic and hands-on leader who has strong market knowledge and relationships. Our business will benefit greatly from her deep local experience to build sustainable partnerships with our distribution partners and customers.”
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 approximately 31,000 people worldwide.
Additional information can be found at: www.chubb.com.
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