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Singapore Convention Week 2021 Brings Together Global Legal And Business Community

SINGAPORE – Media OutReach – 31 August 2021 – The upcoming Singapore Convention Week (SC Week) 2021 will bring together leaders from the legal, business and government sectors in the international dispute resolution scene. Themed ‘A World in Transition’, the global legal conference will be held virtually from 6 to 10 September 2021. Participants will discuss the latest trends and innovations in international dispute resolution amidst a fast-evolving business landscape in the COVID-19 pandemic era and beyond.

 

SC Week 2021 is organised by the Singapore Ministry of Law (MinLaw), in collaboration with supporting partner organisations (see Annex A and Annex B). The week-long series of events consists of: 

 

(i)       UNCITRAL Academy: An inaugural event jointly organised by MinLaw and the United Nations Commission on International Trade Law (UNCITRAL), this key highlight of SC Week 2021 comprises fireside chats, panel discussions and capacity-building workshops featuring C-level executives and industry heavyweights. Singapore’s Minister for Home Affairs and Minister for Law Mr K Shanmugam SC, Singapore’s Minister for Culture, Community and Youth and Second Minister for Law Mr Edwin Tong SC and UNCITRAL Secretary Ms Anna Joubin-Bret, together with over 40 leading global experts, will share their views and experiences on the evolution and increasing relevance of cross-border alternative dispute resolution (ADR) solutions for businesses, and how companies and practitioners can successfully navigate the complex business environment in today’s world in transition. Discussion topics include the Singapore Convention on Mediation, the role of international dispute resolution amidst COVID-19, future trends in ADR, ADR in emerging markets, intellectual property dispute resolution and the potential uses of mediation in debt restructuring and insolvency. UNCITRAL Academy will be held on 7-8 September 2021.

 

(ii)      Singapore Convention Week events (see Annex B): Organised by supporting partner organisations, each event will delve into a different facet of international dispute resolution, exploring perennial issues and new developments by bringing together diverse perspectives from policymakers, practitioners and users.

 

Mr K Shanmugam SC, Singapore’s Minister for Home Affairs and Minister for Law, said: “There has been increasing demand for practical, efficient and cost-effective cross-border dispute resolution mechanisms. During SC Week 2021, these issues will be discussed. This will be of interest to businesses around the world, particularly in the current times. We are proud to partner UNCITRAL in this effort to make international trade easier for businesses.”

Ms Anna Joubin-Bret, Secretary of UNCITRAL, said: “At the signing ceremony of the Singapore Convention on Mediation in 2019, we had highlighted that signing and ratification were merely the first step towards the promotion of a harmonised framework for international mediation, and that the second and crucial step would be implementation. We are proud to co-organise the inaugural UNCITRAL Academy with MinLaw, and to be a part of SC Week 2021. Such events play an important role in advancing implementation. We hope that these events will help in further increasing awareness and promoting the use of mediation around the world, alongside other dispute resolution processes.”

 

The Singapore Convention on Mediation, also known as the United Nations Convention on International Settlement Agreements Resulting from Mediation, provides an effective avenue for parties to enforce mediated settlement agreements for cross-border disputes. The Convention opened for signature on 7 August 2019 in Singapore, with 46 signatories. To date, the Convention has 54 signatories,  and six Parties. It entered into force on 12 September 2020. (For more information, please refer to Annex C).

 

Visit https://www.singaporeconventionweek.sg/ to register for SC Week 2021 and get the latest updates.

 

SINGAPORE MINISTRY OF LAW

31 August 2021

 

Annex A: SC Week 2021 Supporting Partner Organisations

Annex B: SC Week 2021 Infosheet

Annex C: Factsheet on the Singapore Convention on Mediation

Annex A: SC Week 2021 Supporting Partner Organisations

  • United Nations Commission on International Trade Law
  • American Arbitration Association International Centre for Dispute Resolution Asia Case Management Centre
  • Asia Pacific Institute of Experts
  • INSOL International
  • International Bar Association
  • Singapore Chamber of Maritime Arbitration
  • Singapore Institute of Arbitrators
  • Singapore International Arbitration Centre
  • Singapore International Commercial Court
  • Singapore International Dispute Resolution Academy
  • Singapore International Mediation Centre
  • Singapore International Mediation Institute
  • Singapore Mediation Centre
  • Society of Mediation Professionals (Singapore)
  • The Law Society of Singapore 

Annex B:  SC Week 2021 Infosheet




Annex C: Factsheet on the Singapore Convention on Mediation

 

Background, Signing, and Ratification

  • On June 2018, the United Nations Commission on International Trade Law (“UNCITRAL”), finalised the United Nations Convention on International Settlement Agreements Resulting from Mediation and adopted the UNCITRAL Model Law on International Commercial Mediation and International Settlement Agreements Resulting from Mediation, 2018 (amending the Model Law on International Commercial Conciliation, 2002).
  • On 20 December 2018, the United Nations General Assembly (i) adopted the Convention; (ii) authorised the signing ceremony of the Convention to be held in Singapore; and (iii) authorised the nomenclature of the “Singapore Convention on Mediation” (the “Singapore Convention”) making it the first UN treaty to be named after Singapore.
  • On 7 August 2019, the Singapore Convention Signing Ceremony and Conference was held where Singapore hosted more than 1,500 delegates from 70 countries at the event. 46 countries signed the Singapore Convention on that day and subsequently, seven other countries signed at the UN headquarters in New York, bringing the total number of signatories to 53.
  • On 12 September 2020, the Singapore Convention came into force.
  • On 4 June 2021, Brazil signed the Singapore Convention, bringing the total number of signatories to 54 countries.

Key Benefits

  • Mediation is rising in popularity as a means to resolve cross-border commercial disputes for several reasons, including the fact that it results in party-driven solutions which are not imposed by a third party. It also reduces time and costs for parties as well as burdens to the state. Due to its conciliatory nature, it better facilitates business continuity and relationships, also reducing instances where a dispute leads to termination of commercial relationships. Mediation is also a flexible solution for international disputes as it can be combined with or complement other modes of dispute resolution, such as litigation or arbitration.
  • However, its growth has been hindered by the long-standing obstacle of a lack of enforceability of the mediated settlement agreement. Unlike a court judgment or an arbitral award, previously, a mediated agreement was only binding contractually and not directly enforceable. The lack of an efficient and harmonised framework for cross-border enforcement of settlement agreements resulting from mediation was often cited as a challenge in utilising mediation as an effective solution.
  • The Singapore Convention directly addresses the lack of an effective means to enforce cross-border commercial mediated settlement agreements by providing the framework by which agreements may be enforced. Businesses can have greater assurance that mediation can be relied on to settle cross-border commercial disputes because mediated settlement agreements can be enforced more readily by the courts of contracting parties to the Singapore Convention.
  • This certainty of outcomes is beneficial for businesses especially during a period of uncertainty such as the COVID-19 pandemic. It will also help to promote the use of mediation around the world for cross-border disputes, saving time and costs, and potentially ensure better business continuity, facilitating the growth of international trade and commerce.

 

Applicability of the Singapore Convention

  • The Singapore Convention will apply to international commercial settlement agreements resulting from mediation. The courts of a contracting party will be expected to handle applications either to enforce an international settlement agreement that falls within its scope or to allow a party to invoke the settlement agreement to prove that the matter has already been resolved, in accordance with its rules of procedure, and under the conditions of the Singapore Convention.
  • The Singapore Convention will not apply to:
    ·  International settlement agreements that are concluded in the course of judicial or arbitral proceedings and which are enforceable as a court judgment or arbitral award; or
    ·  Settlement agreements concluded for personal, family, or household purposes by one of the parties (a consumer), as well as settlement agreements relating to family, inheritance, or employment law.
  • The courts of a contracting party may refuse to grant relief on the grounds laid down in the Singapore Convention, including:
    ·  If a party to the settlement agreement was under incapacity;
    ·  If the settlement agreement is not binding, null and void, inoperative, or incapable of being performed under the law to which it is subjected to;
    ·  If there was a serious breach by the conciliator of standards applicable to the conciliator, without which breach that party would not have entered into the settlement agreement; and
    ·  If granting relief would be contrary to the public policy of the contracting party.

 

List of Countries that Signed and Ratified the Singapore Convention

Note: Countries that have ratified/approved the Singapore Convention are denoted with an asterisk (*)


S/N

Country

S/N

Country

1

Afghanistan

28

Kazakhstan

2

Armenia

29

Lao People’s Democratic Republic

3

Belarus*

30

Malaysia

4

Benin

31

Maldives

5

Brazil

32

Mauritius

6

Brunei Darussalam

33

Montenegro

7

Chad

34

Nigeria

8

Chile

35

North Macedonia

9

China

36

Palau

10

Colombia

37

Paraguay

11

Congo

38

Philippines

12

Democratic Republic of the Congo

39

Qatar*

13

Ecuador*

40

Republic of Korea

14

Eswatini

41

Rwanda

15

Fiji*

42

Samoa

16

Gabon

43

Saudi Arabia*

17

Georgia

44

Serbia

18

Ghana

45

Sierra Leone

19

Grenada

46

Singapore*

20

Guinea-Bissau

47

Sri Lanka

21

Haiti

48

Timor-Leste

22

Honduras

49

Turkey

23

India

50

Uganda

24

Iran (Islamic Republic of)

51

Ukraine

25

Israel

52

United States of America

26

Jamaica

53

Uruguay

27

Jordan

54

Venezuela (Bolivarian Republic of)

Singapore Ministry of Law

The mission of the Singapore Ministry of Law (MinLaw) is to advance access to justice, the rule of law, the economy, and society through policy, law and services. MinLaw drives legal reforms, oversees the policy for the development, promotion and regulation of Singapore’s legal sector, and advances Singapore’s national interests through international legal policy and cooperation. In addition, MinLaw licenses law practices, registers foreign-qualified legal practitioners, regulates moneylending and pawnbroking, supervises precious stones and metal dealers, and provides community legal services such as legal aid, community mediation, insolvency administration, and public trustee services. MinLaw also oversees land policy and administration and the development of Singapore’s intellectual property sector, supported by its statutory boards.

For more information, please visit MinLaw’s website.

#SingaporeMinistryofLaw

The United Nations Commission on International Trade Law (UNCITRAL)

The United Nations Commission on International Trade Law is the core legal body of the United Nations system in the field of international trade law. A legal body with universal membership specialising in commercial law reform worldwide for over 50 years, UNCITRAL’s business is the modernisation and harmonisation of rules on international business.

For more information, please visit UNCITRAL’s website.

Authorities Seize and Destroy Illegal Timber in Vientiane Province

Authorities in Vientiane Province’s Kasi District have confiscated and destroyed illegal timber.

Logan Group Announces 2021 Interim Results Steady, Long-term Development Strategies Pave Way for Future Growth

HONG KONG SAR – Media OutReach – 31 August 2021 – Logan Group Company Limited (stock code: 3380.HK) has announced its 2021 interim results. In the first half of the year, despite the global spread of the coronavirus pandemic, China’s economy managed to continue its steady recovery. The Group proactively implemented business development plans in accordance with real estate industry trends and policies, strengthened the “two stability and one new” business orientation and applied the “four-wheel-driven” strategy, together with its “precise investment, fine management, refined products, meticulous service, capable team, sincerity and responsibility” strategies, achieving satisfactory growth in performance and starting a new model of development.

 

Financially sound – Maintained “green line” status. Ratings continued to improve with debt ratio and financing costs reduced

Logan Group adhered to its long-term sustainable development and prudent financial strategies, continued to consolidate stable cash flow and a sound capital structure. As at 30 June 2021, its net gearing ratio had decreased to 60.8%, asset/liability ratio (after deducting receipts in advance) had decreased to 69.0%, and cash to short-term debt ratio had risen to 1.85 times. The “three red lines” indicators were further optimized, with all maintaining positions within the green line.

 

The Group’s international credit rating was further upgraded. Fitch confirmed the rating as “BB”, with the outlook upgraded to “positive”. Moody’s upgraded the rating to “Ba2”, Standard & Poor’s maintained the rating at “BB”. Lianhe Ratings Global and China Chengxin (Asia Pacific) rated the Group as “BBB-” and the domestic credit rating maintained the highest “AAA” level, demonstrating the Group’s achievements were highly recognized by the capital market.

 

In the first half of the year, Logan Group’s diversified financing channels remained unobstructed, with new financing costs decreased by 15% to 4.6%, the weighted average borrowing interest rate was 5.4% at the end of the period, the debt structure continued to be optimized, the financing costs continued to decline, and the liquidity was reasonable and abundant, which further enhanced the Company’s long-term development competitive strength.

 

Stable operation — Steady growth of revenue and profit, and continuous stability of profitability

As a result of the Company’s refined products, meticulous service, abundant saleable resources and strong strategic execution, Logan Group maintained a stable operation. In the first half of the year, the Company’s attributable contracted sales amounted to approximately RMB73.64 billion, representing a year-on-year increase of 59%, and the Company has already achieved 51.0% of its annual sales target. Revenue amounted to RMB35.17 billion, representing a year-on-year increase of 13.3%. Core profit attributable to owners of the Company amounted to RMB5.58 billion, representing an increase of 4.6% compared with the same period last year, helping Logan Group maintain a steady growth on top of a high base level.

 

In the first half of the year, Logan Group strengthened its fine management, continuously improved the efficiency of development management and control, and shortened the average time period from land acquisition to presale for new projects to 6.6 months. The Company’s per capita efficiency continued to improve thanks to its lean team structure. During the period, the per capita contribution to attributable contracted sales increased by 60.0% year-on-year to RMB25.46 million, and the per capita contribution to core profit was about RMB1.93 million.

 

In the context of a general decline in industry profit margins, the gross profit margin of the Company was 27.0% in the first half of the year, a slight decrease of 3 percentage points compared with 2020, which was significantly less than the average decline of the industry. The Company’s profitability and competitive advantage remains stable, with attributable net profit margin of 17.6%, and the core net profit margin was 16.7%.

 

Develop new business model — Focus on four major business segments and provide professional services through a diversified industry chain

Amidst new trends in the industry, Logan Group enhanced its position as the “city’s comprehensive service provider” and will continue to focus on four major business segments of “residential development, urban redevelopment, commercial operations, and industrial operations”, to improve the development ability and overall competitiveness. Meanwhile, Logan Group has developed new business models based on the property industry chain, to elevate professional services quality. The Group has four business segments, which are design, construction, landscape, and decoration, with complete supporting structure and talents,  established business development and clear business models.

 

Logan Group’s professional services are highly recognized by the industry. It has a “Grade” A qualification in Design Institute as well as general contractor of construction, and “Grade B” qualification in municipal public engineering projects. In the first half of the year, customer satisfaction in landscape services and construction services were 93% and 88% respectively, which are industry-leading levels.

 

In the foreseeable future, Logan Group will take advantage of its professional services, continuously increase market share and market value, through a diversified industry chain and professional qualifications.

 

Precise investment – Reasonable structure of land bank and sustainable urban redevelopment

Logan Group focuses on valuable core metropolises in China, based on its regional penetration strategy, and precise investment. In the first half of the year, the Group acquired GFA of 3.63 million sq.m through public tendering, auction and listing. The land price was less than 40% of relevant projected selling price. Logan Group develops regional expansion efficiently with excellent performance in the Yangtze River Delta metropolitan area,  covering 7 cities and 27 projects, with a total saleable resources of approximately RMB50 billion.

 

Urban redevelopment business has been a differentiated segment which requires less capital with more potential, with sustainable competitive advantages. For the six-month period ended 30 June 2021, the urban redevelopment business covers 11 cities, 125 projects with GFA of 46.26 million sq.m. In total, 93% of which is located in the 7 core cities of the Guangdong-Hong Kong-Macao Greater Bay Area.

 

Logan Group’s abundant premium land bank provided a solid foundation for the Group’s long-term sustained growth in results. For the six months ended 30 June 2021, the Group had a total land bank of 85.56 million sq.m. The Group focuses on high-performing cities and the saleable resources in first-tier and second-tier cities accounted for 94.0%. The land bank structure remained reasonable. The near-term land bank area was 39.3million sq.m., accounting for 46.0% of total land bank. And the near-term saleable resources reaches RMB 532 billion, which guarantees development within next 3 years. The area of urban renewal land bank accounted for 54.0% of total land bank, with great value potential, sustainable conversion, and long-term profitability.

 

Sincerity and responsibility — Contribute to common prosperity, actively participate in public welfare and charity, continue to give back to society

While steadily developing, Logan Group has effectively fulfilled its corporate citizenship responsibilities, actively participated in public welfare and charity, and continued to give back to society. In July 2021, there was a severe flood in Henan province. Logan Group quickly responded to emergency assistance and jointly donated RMB10 million via Logan Charity Fund to support flood prevention and disaster relief.

 

With 26 years of social responsibility and public welfare experience, Logan Group’s public welfare undertakings cover 9 provinces, 38 counties and districts across the country and has carried out more than 560 public welfare projects. The Group teamed up with Logan Charity Fund to donate a total of RMB1 billion across education, rural revitalization, pandemic prevention efforts and disaster relief, industrial poverty alleviation, environmental protection, and community services. The Group won the China Charity Outstanding Contribution Award and ranked 9th and 11th in the 2021 China Charity List and Forbes China Charity List respectively.

 

Logan Group strives to ensure product quality, corporate governance, green development, public welfare investment, employee care, etc. to continuously improve the level of sustainable development. The Group has been rated “BB” in ESG ratings by MSCI and is included in the Hang Seng ESG 50 Index. The Group has also won the China Real Estate Enterprise ESG outstanding property developers. In 2021, Logan successfully issued overseas green bonds, marking a new milestone in its ESG development strategy.

Laos Reaches More than 15,000 Cases of Covid-19

Covid-19 Update Vientiane

Laos has confirmed 199 new cases of Covid-19, bringing the total number of cases to 15,015.

Prince Foundation Celebrates Sixth Anniversary with Rebranding & Strategic Review

Charity arm of Prince Group aims to be more strategic and investment-oriented in approach

PHNOM PENH, CAMBODIA – Media OutReach – 31 August 2021 – Prince Foundation, formerly known as the Prince Charitable Foundation, has announced the adoption of a new logo, a new name and a new vision statement – “Together, Building a Better Future for Cambodia”. Prince Foundation is the charity arm of Prince Holding Group (“Prince Group”), one of the largest conglomerates in Cambodia, with its various units focusing on three core areas: real estate development, financial services and consumer services. Prince Foundation will be known in Chinese as 太子慈善 (translated as “Prince Foundation”).

 

The rebranding exercise comes after an exhaustive review its past six years of high-impact philanthropic activities during which Prince Foundation conducted more than 250 charity events benefitting more than half a million Cambodians, with cumulative donations exceeding US$14 million. In line with the emerging trend among similar foundations in Asia – more charitable foundations in the region are seeking to become more strategic and investment-oriented in their approach – as such, Prince Foundation endeavors for its activities to be more holistic and closely integrated with Cambodia’s national development goals.

 

“A new logo, a new vision statement and new processes have been introduced to signal our determination to create the right framework that can bring about necessary long-term sustainable and responsible societal changes,” said Neak Oknha Chen Zhi (陈志公爵), Chairman of Prince Group. “Following the government’s lead in driving economic development, human capital upskilling, improving gender equality, we felt it was important and timely to conduct a comprehensive review and chart a new roadmap for the future.” 

 

During the COVID-19 epidemic in Cambodia, Prince Foundation acted swiftly and came to the aid of Cambodia by donating 110,000 PPE and over US$1 million to vaccination and relief efforts in May. It came after Prince Group’s donation of US$3 million to the Cambodian government’s anti-pandemic efforts in March as well as a US$3 million donation by the Group to help Cambodia purchase 1 million COVID-19 vaccines at the end of the previous year. This year, Prince Group has won awards for its COVID-19 Corporate Response at the eighth annual Asia-Pacific Stevie Awards and the 2021 International Business Awards. Prince Foundation’s decisive action during a crisis period was commended by various international judging panels.

 

“We hope ‘Together, Building a Better Future for Cambodia’ will guide our team at Prince Foundation, just like how the Group has, through its corporate strategy of “Building a Better Life” for Cambodians, led to over US$2 billion in investment towards local projects,” added Chen Zhi. “Ensuring Cambodia’s recovery will be a long-term effort and we remain invested in the future of Cambodia and will offer the necessary financial and operational support to ensure Prince Foundation’s continued success.”

 

About Prince Holding Group

Prince Holding Group is one of the largest conglomerates in Cambodia, with its various units focusing on three core areas: real estate development, financial services and consumer services.

Prince Holding Group’s key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, Belt Road Capital Management, as well as Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 80 businesses in Cambodia operating in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors etc.

Rising foreign direct investment, free trade agreements with leading countries and future participation in the Regional Comprehensive Economic Partnership are expected to act as key drivers for the Cambodian economy, supported by pro-industry policy initiatives by the government.

Leveraging a network of industrial, business and financial professionals across Asia, Prince Holding Group has laid the foundation to be a vital conduit for local and international capital. The Group is firmly committed to the long-term development of Cambodia. For example, Prince Holding Group is developing Ream City, an upcoming tourism and residential project that will be one of Cambodia’s first sustainable real estate projects, aiming to secure $16 billion in total investment for the region. Located conveniently within a 10-minute drive from the Sihanoukville International Airport, the project aims to contribute to economic recovery in Sihanoukville.

Moving forward, Prince Holding Group will continue to seek out opportunities to play an important role in Cambodia, through partnerships or direct investments into key industries for the betterment of Cambodians and the local economy.

#PrinceHoldingGroup

Desire to Improve Their Health Motivates Asia Pacific Consumers to Start Eating Breakfast More Often During the Pandemic – Herbalife Nutrition Survey

HONG KONG SAR – Media OutReach – 31 August 2021 – Premier global nutrition company, Herbalife Nutrition, today unveiled findings from its third annual Asia Pacific Breakfast Habits Survey 2021, which revealed that the desire to improve health and well-being was the top reason that motivated Asia Pacific consumers to adopt positive breakfast habits. Three in ten (30 percent) consumers began eating breakfast more often as a result of the current situation, and half of the respondents who started doing so said they ate breakfast six to seven more days per week.

 

To understand the impact of the current pandemic on Asia Pacific consumers’ breakfast attitudes and habits as well as the behavior preferences of different demographic groups, Herbalife Nutrition’s Asia Pacific Breakfast Habits Survey 2021 polled more than 5,500 consumers aged 18 and above across 11 markets – Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam. Approximately 50 percent of respondents in each market were Generation Zs (aged 18 – 24) or Millennials (aged 25 – 40).

 

“The pandemic has sparked noticeable changes in the breakfast eating habits of consumers in Asia Pacific,” said Stephen Conchie, Senior Vice President and Managing Director, Herbalife Nutrition Asia Pacific. “With growing awareness of the need for a healthy and nutritious breakfast to support their well-being, many of them – including Generation Zs and Millennials – went from not eating breakfast before, to now consuming breakfast on a daily basis. This marks a step in the right direction to foster positive nutrition habits and lay the foundation for them to lead healthier lives.”

 

Higher Frequency of Breakfast Consumption More Evident Among Gen Zs, Millennials

Two in five (37 percent) Generation Zs and Millennials in Asia Pacific began eating breakfast more often as a result of the pandemic, higher than the region’s average of 30 percent across all age groups. The change in breakfast habits among Generation Zs and Millennials was particularly evident among those in Thailand (65 percent) and the Philippines (53 percent), with over half of consumers aged 18 to 40 now consuming breakfast more often.

 

When asked about the reasons for consuming breakfast more often, the top reasons given by Generation Z and Millennials were similar to the average Asia Pacific consumer. These include:

  • I want to improve my health and well-being (65 percent)
  • I have more time in the morning to prepare breakfast (48 percent)
  • I want to use this time at home to make a positive lifestyle change (41 percent)

In addition to increased breakfast frequency, four in 10 Generation Zs and Millennials (41 percent) also started eating healthier breakfasts. This change was more prevalent among those in the Philippines (66 percent), Indonesia (61 percent) and Vietnam (57%). Key changes made by Generation Zs and Millennials to their choice of breakfast include:

  • I incorporated more vegetables and fruits into my breakfast (57 percent)
  • I made sure I have a nutritionally balanced meal at breakfast (54 percent)
  • I drank more water at breakfast (52 percent)


Increased Awareness of the Importance of Nutrition among Asia Pacific Consumers

There is a remarkable increase in recognizing nutrition as an important element of their ideal breakfast among Asia Pacific consumers. When asked about factors that make up an ideal breakfast, respondents selected nutrition as the most important factor (50 percent), followed by quick and easy preparation (16 percent), taste (14 percent), and convenience (14 percent).

 

In the Asia Pacific Breakfast Habits Survey conducted in 2019 by Herbalife Nutrition, nutrition was of a lower priority to consumers, ranked after taste and convenience.

 

Asia Pacific Consumers See Value in Consuming a High-Protein Breakfast

When asked about the personal benefits of consuming breakfast, respondents cited having an energy lift in the morning (76 percent), kickstarting their metabolism for the day (49 percent) and helping them to focus better at work or in school (49 percent) as the key advantages.

In addition, the majority of the region’s consumers (73 percent) also saw value in consuming a high-protein breakfast:

  • 67 percent said a high-protein breakfast helps keep them fueled until their next meal or snack
  • 65 percent shared that it helps to support muscle health
  • 53 percent shared that it helps to boost their immunity

Inconvenience is the Top Barrier Preventing Consumers from Eating Healthier Breakfasts

While the majority (74 percent) of respondents believe that it is important to have a healthy breakfast on a daily basis, and intend to consume healthier breakfast options (85 percent), a minority continue to face barriers in making healthy breakfasts a key part of their daily routine.

Among those who do not intend to consume healthier breakfast options, the main reasons were:

  • Healthier breakfast options take too long to make (27 percent)
  • Healthier breakfast options do not matter to them (25 percent)
  • Healthier breakfast options are expensive (23 percent)

When asked about their willingness to spend for their ideal breakfast, the majority were unwilling to spend more than the equivalent of US$5 per meal. 

“A healthier breakfast does not necessarily take too long to make,” added Conchie. “There are a wide range of fuss-free breakfast options which include more nutrients, yet are easy and quick to prepare. These will provide consumers with energy to start their day whilst improving overall well-being in the longer term.”

About Herbalife Nutrition

Herbalife Nutrition (NYSE: HLF) is a global company that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers high-quality, science-backed products, sold in over 90 countries by entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company’s global campaign to eradicate hunger, Herbalife Nutrition is also committed to bringing nutrition and education to communities around the world.

#HerbalifeNutrition

Seminal Step: OctaFX Launches Its Apple iOS Trading App, Starting in Malaysia

KUALA LUMPUR, MALASIA – Media OutReach – 31 August 2021 – The Forex broker OctaFX presents the test launch of its Apple iOS trading app in the Malaysian App Store. A complete app inauguration for all service regions will follow towards the end of 2021.



 

The international Forex broker OctaFX has delivered the first release of their Apple iOS trading app. The company decided for Malaysia to be the first region for this test launch.

 

The App’s current rendition of its user interface is in the English language only. Live trading will be available later, but Malaysian users can already download the app, create an account, manage their investments, and even engage in direct communications with client support.

 

OctaFX will activate the primary function of trading assets in the near future. As for now, the team employs a minimal basic functionality approach. The immediate next natural steps are ensuring smooth and fast performance of the core feature set.

 

After that follows a full app release, with all features unlocked, for all regions, at the end of this year⁠—incorporating all other languages served by the company on its established platforms so far.

The app’s test launch constitutes a crucial element for the developer team to gather real-time data, feedback, and interaction with the user base.

 

A brief run-down of the app’s features in test mode

●      Control over investments, replenishing balance and transferring of funds between accounts instantly

●      A one-stop solution for managing all OctaFX trading accounts and funds in one place

●      Instant deposits to all trading accounts and Wallet

●      Fast withdrawal times from several seconds up to a maximum of three hours

●      Instant transfers between trading accounts

●      Full integration with the most popular trading platforms (MT4, MT5), as well as introducing OctaFX’s very own trading platform

 

The quiet launch of the OctaFX iOS went ahead on 4 August 2021. Users can download the trading app for Malaysia on the App Store.

About OctaFX

OctaFX is a global Forex broker that provides online trading services worldwide since 2011.

It offers a state-of-the-art trading experience to over 7 million trading accounts worldwide. In addition, the company is well-known for its social and charity activity, supporting infrastructure and humanitarian projects in many joint ventures. OctaFX has won more than 40 awards since its foundation, including the 2020 ‘Most Transparent Broker’ by Forex Awards and, more recently, the ‘Best ECN Broker 2021’ award from World Finance to name a few.

#OctaFX

Marquee tech investors back coding bootcamp start-up Rocket Academy to address global talent shortage

  • Fundraise: Rocket Academy raises $1.1m in pre-seed funding from consortium of business angels 
  • Demand: Over the past 3 months, demand for their Coding Basics course has increased 10x 
  • Growth: Rocket Academy is actively hiring to double its headcount by end 2021 to address global talent shortage of developers, expected to reach 85.2m in 2030 
  • Impact: 100% of students who graduate from Rocket Academy bootcamp course secure jobs 

SINGAPORE – News Direct – 31 August 2021 – Rocket Academy, a Singapore-based start-up providing online coding courses, today announced it has raised $1.1 million in pre-seed funding. The investment comes from a consortium of 50 marquee tech investors and venture capitalists including entrepreneurs Darius Cheung from 99.co, Marcus Tan from Carousell and Stanley Tang from DoorDash, former Singapore Ambassador to the UN Kishore Mahbubani, SEA tech leaders’ investment network XA Network, and VC firms Taurus Ventures and Hustle Fund. Rocket Academy will use this funding to grow the company into the leading coding school in Southeast Asia helping to address the current industry-wide shortage in software engineers.

 

Rocket Academy has developed two courses to date: Coding Basics, an introductory course for beginners to learn the basics of coding; and Software Engineering Bootcamp (SEB), which prepares students for a career in software engineering. All course material is pre-recorded for students to review and complete at their own pace. Rocket Academy holds regular live classes over Zoom for students to clarify concepts with instructors, apply learning in pair exercises and network with classmates. Classes are online allowing greater flexibility and efficiency, and the course platform allows high levels of engagement between students and teachers.

 

Kai Yuan Neo, Founder and CEO at Rocket Academy commented: “There is a mounting global talent shortage of developers around the world. As of December 2020 this amounted to 40 million developers worldwide. By 2030, that is expected to reach 85.2 million. Not only this but companies worldwide risk losing $8.4 trillion in revenue because of the lack of skilled talent. Rocket Academy exists to solve this equation and we are on a mission to scale further and faster.”

 

In addition to teaching, Rocket Academy helps its SEB graduates find their dream software engineering jobs through resume development, portfolio development and interview preparation. Rocket Academy leverages its network of companies sourcing for software engineers, makes referrals and helps set up job interviews for SEB graduates. To date, Rocket Academy has a 100% success rate in placing SEB graduates in software engineering jobs within companies and organisations such as 99.co, Xfers, Glints, GovTech, and GoTrade.

 

“Getting our students good jobs is our top priority. The better jobs our students get, the stronger our alumni network becomes, which enables us to find better jobs for future students,” said Kai Yuan Neo. “Over the past months the demand for our SEB graduates from businesses has doubled. So far we have successfully placed all SEB graduates. We are so confident that our SEB graduates will find coding jobs that we will refund their fees if they still cannot find a job 6 months after graduation.”

  

Although Rocket Academy is a small start-up, it has lofty ambitions – to train and supply the best software engineers in the region. Rocket Academy will invest its pre-seed funding in two key areas. First, further developing its flagship products, Coding Basics and Software Engineering Bootcamp courses. This involves strengthening course curriculum and improving the learning platform to boost the student experience. Second, expanding to new markets, specifically Hong Kong and Australia in the short term, other Southeast Asian markets in the medium term, and then globally in the long term.

 

To succeed, Rocket Academy will need the best software engineering and education talents to craft its student experience. The company prides itself on a work environment with highest-calibre peers, transparent company progress, decentralised decision making, and flexible work arrangements. Rocket Academy is actively hiring and targets to double its headcount by end 2021.

 

“Over the past 3 months we have seen a 10-fold increase in demand for our Coding Basics course and a 4-fold increase in demand for our SEB course. We are regularly in touch with businesses to understand technical skills that software engineers need. This allows us to refine our curriculum to make it relevant and appropriate for students looking for rewarding software engineering careers,” added Kai Yuan Neo.

 

“Rocket Academy is exactly what Singapore needs now. To get good middle-class jobs, young Singaporeans need to be globally competitive in the digital space. Rocket Academy provides these critical skills. This initiative couldn’t be more timely!” said Kishore Mahbubani, Former Singapore Ambassador to the UN and angel investor in Rocket Academy’s pre-seed round.

Annex 1 – Business angels participating in Rocket Academy’s pre-seed round

 

The following are notable business angels who participated in Rocket Academy’s pre-seed round. Some chose not to be listed.

 

1)    XA Network’s members from global and regional tech companies, such as Google, Facebook, Grab, Ruangguru, StashAway, 99.co, Affinidi and DataRobot

2)    Frank Chen, Founding Engineer, Coursera

3)    Jefferson Chen, Co-Founder, Group Chairman and CEO, Advance Intelligence Group

4)    Vicki Cheung, Founding Engineer, Duolingo, OpenAI

5)    Clarence Chio, Co-Founder & CTO, Unit21

6)    Tiger Fang, Co-Founder & CEO, Kargo

7)    Eric Feldman, Co-Founder, Bolt

8)    Veni Johanna, Head of Frameworks Engineering, Asana

9)    Joel Kek, Software Engineer, GovTech

10)  Shiyan Koh, Managing Partner, Hustle Fund

11)  Hendra Kwik, Co-Founder & CEO, Payfazz; General Partner SEA, Magic Fund

12)  Timothy Lee, Former Sequoia Partner

13)  Junxu Lye, Chief Product Officer & Partner, Endowus

14)  Kishore Mahbubani, Former Singapore Ambassador to the UN

15)  Alex Ng, Sino Group

16)  Daniel Ong, CTO, Care

17)  Jonathan Sim, General Manager Singapore, Flexport

18)  Hester Spiegel-van den Steenhoven, Former Head of Germany, 42 School

19)  John Tan, Founder & CEO, Doyobi and Saturday Kids

20)  Marcus Tan, Co-Founder, Carousell

21)  Stanley Tang, Co-Founder & Chief Product Officer, DoorDash

22)  Norman Wanto, Co-Founder & CTO, GoTrade

About Rocket Academy

Rocket Academy is an online coding bootcamp that trains software engineers and helps graduates find their ideal jobs. Rocket Academy has a Basics course for beginners and a Bootcamp course for aspiring software engineers. Rocket Academy’s comprehensive courses support students at every level as they progress to become professional programmers. For more information please visit: www.rocketacademy.co and follow via YouTube, Facebook, LinkedIn or Instagram.

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About XA Network

The XA Network was founded in 2018 as an investment network comprising senior executives from leading global and regional technology companies. Our purpose is to foster inclusive innovation by empowering the tech community in Southeast Asia.

XA focuses on early-stage investments. Founders value our members’ distinguished backgrounds as entrepreneurs and senior business builders. Furthermore, our portfolio companies are able to tap into the collective power of deep-rooted networks and expertise across business strategy, product development, and fundraising. XA has invested in a wide variety of sectors and over 30 companies since 2018, including Spenmo, Neuron, Sampingan, Intellect, and Bukukas. XA Network is also an LP in Vertex Southeast Asia and India’s latest fund. For more information, please visit www.xanetwork.co