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

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

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

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

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

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

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

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

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

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

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

About Asia Pacific Rayon

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

About RGE

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

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

Benefits for Japanese investors highlighted

 

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

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

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

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

CREATE’s Far-Reaching Impact

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

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

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

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

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

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

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

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

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

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

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

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

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

Philippine-Japan Relations

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

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

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

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

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

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

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

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

The Philippines’ key indicators

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

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


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

Philippines issues Samurai bonds

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

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

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

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

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

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

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

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

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

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

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

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

About Chubb

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

Delphos International and YW Capital Agree Strategic Partnership

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

Delphos Co-Chair, Bart Turtelboom

Mesh Pillay, Chief Executive of YW Capital

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

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

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

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

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

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

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

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

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

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

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

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

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

Two New Cases of Covid-19 Confirmed in Laos, Including Thai National

Covid-19 update in Laos

A 41-year-old Thai national and a 41-year-old Lao citizen have been confirmed as the 50th and 51st cases of Covid-19 in Laos, just a few days before Lao New Year celebrations begin.

Laos Third Most Corrupt Country in ASEAN

Laos Climbs Two Spaces in 2019 Corruption Index

Laos was perceived to be the third most corrupt country in the ASEAN bloc in 2020.

Hong Kong Photo Contest 2020 Winners Announcement

Organized by National Geographic Magazine Chinese Edition, Presented by Wheelock

 

HONG KONG SAR – Media OutReach – 9 April 2021 – A picture speaks a thousand words. National Geographic and Wheelock Properties is co-operating for the fourth time for The Hong Kong Photo Contest.

Managing Director of Wheelock Properties Ricky Wong and renowned Hong Kong photographer Anthony Lau taking group photo with winners.

Themed “Happy*Healthy”. Hong Kong Photo Contest 2020 is divided into five categories: “Landscape”, “Wildlife”, “City”, “People” and “Mobile Photography”. This year, the competition has received over 7000 submissions from both photography enthusiasts and professionals from a total of 13 countries and cities such as Hong Kong, Macau, Taiwan, Mainland China, Canada, USA, United Kingdom and Malaysia.

The judging panel this year comprises National Geographic photographer George Steinmetz; renowned Hong Kong photographer Anthony Lau; and Lee Yungshih, editor-in-chief of National Geographic magazine Chinese edition.

George says, “As long time visitor to Hong Kong, I was impressed by how the city was depicted by those who know it best. I was particular surprised by the winning photo in the “people” category, of a lone woman isolated on her rooftop at dusk, connecting with the world via the glow of her mobile phone. It beautifully captured the spirit of the city during very turbulent year.”

Anthony says, “As a Hong Kong-born photographer, I’m honored to be able to view and analyze the shortlisted works from a judge’s perspective. There are many outstanding works among the entries. Unfortunately, many were disqualified due to various issues associated with their original files. For the winners who made it through the rounds, they’ve earned it. Some photos, while simple in composition, managed to contain an “overload” of information as they evocatively illustrated certain moments in nature and the urban environment.”

Li from Taiwan says, “I am delighted to see that this year’s Hong Kong Photo Contest has grown to a new height. Not only the number of participants and entries has reached the highest since the launch of the contest, but the quality of work in general has greatly improved as well. Among all the winning images, I am most impressed by the winner of the wildlife category. The photographer captured a moment of a legion of ants hunting their prey. It’s an excellent display of all important elements of photography: composition, color, lighting, wildlife behavior, and a great moment. It’s a well-deserved winner.”

Managing Director of Wheelock Properties Ricky Wong says: “We’re honored to have partnered with National Geographic for the fourth year in the ‘Hong Kong Photo Contest 2020’. As a revered industry event in the city, we hope to help talented photographers realize their dreams through this photography competition and to reveal spectacular images and stories to our audiences. The unprecedented global challenges posed by the COVID-19 pandemic have transformed the world, creating considerable disruptions to our daily activities and causing bodily and mental distress. Particularly at the onset of the COVID-19, many had to stay home and therefore we hope to, by asking contestants to capture the city’s resilience during the pandemic through their lens, inspire imagination and stimulate creativity while spreading positivity through this photo contest with five categories under the theme ‘Happy*Healthy’. We hope this competition can span internationally so people around the world can learn of Hong Kong’s authentic beauty.”

The winning works will be exhibited at the following venues and the exhibitions are free of charge and open to the public.

Venue #1: WLAB

Address: 1/F, Block A-D, Tung Kin Factory Building, 196 Tsat Tsz Mui Road, North Point

Date: 9 April – 20 April 2021, 2pm – 5pm (Closed on Sat, Sun & public holidays)

Venue #2: Gallery by the Harbour

Address: Shop 207, Ocean Centre, Harbour City, Tsim Sha Tsui

Date: 22 April – 9 May 2021, 11am – 10pm

The Winners include:

City Category

Award

Name

Title

Winner

Chak Kwong Man

空間
Space

1st Runner-Up

Law Fong Sui

晨霧顯香城
City in The Dawn Mist

2nd Runner-Up

Che Chun Hei

壓逼中的呼吸

Grasping for Breath

Wildlife Category

Award

Name

Title

Winner

Fung Man Hon

同心協力

A Concerted Effort

1st Runner-Up

Chow Ho Sum

靜待

Patience

2nd Runner-Up

Yip Ming Lam Matthew

共生

Living Together in Peace

Landscape Category

Award

Name

Title

Winner

Leung Chi Hang

崖壁上的晚餐

Meal on Lion Rock

1st Runner-Up

Tam Chi Chung

聖光之路

HOLY ROAD

2nd Runner-Up

Tam Nga Shu, Jay

圓月灣刀

Waxing Crescent

People Category

Award

Name

Title

Winner

Choi Wai Ha

香港精神

Lion Rock Spirit

1st Runner-Up

Ng Tang Kwai

生活的藝術家Pace-Man

Artist of Life

2nd Runner-Up

Wong Yau Hoi

不要忘記你的笑容

Smiling Mind

Mobile Category

Award

Name

Title

Winner

Leung Yan Kin

思緒隔離營

Light in the Mind

1st Runner-Up

Yu Wing Fai

扶手看車廂

Train Compartments inside Handrail

2nd Runner-Up

MAN KWUN TIN

打醮(化大士)

Bidding Farewell to the Ghost King

Happy and Healthy Special Awards

Award

Name

Title

Merit

Leung Chi Hang

崖壁上的晚餐

Meal on Lion Rock

Merit

Chan Kit Bing

兩面受敵

Water Fight in Delight

Merit

Tam Ka Ming

TEACH AND LEARN

Merit

Law Yun Lung Alan

天真無忌

Innocence

Merit

Chan Ka Fai Philip

逗你笑

Live, Laugh, Love

For more information about “Hong Kong Photo Contest 2020”, please visit www.hkphotocontest.com


About National Geographic Partners

National Geographic Partners LLC (NGP), a joint venture between The Walt Disney Company and the National Geographic Society, is committed to bringing the world premium science, adventure and exploration content across an unrivaled portfolio of media assets. NGP combines the global National Geographic television channels (National Geographic Channel, Nat Geo WILD, Nat Geo MUNDO, Nat Geo PEOPLE) with National Geographic’s media and consumer-oriented assets, including National Geographic magazines; National Geographic studios; related digital and social media platforms; books; maps; children’s media; and ancillary activities that include travel, global experiences and events, archival sales, licensing and e-commerce businesses. Furthering knowledge and understanding of our world has been the core purpose of National Geographic for 132 years, and now we are committed to going deeper, pushing boundaries, going further for our consumers … and reaching millions of people around the world in 172 countries and 43 languages every month as we do it. NGP returns 27 percent of our proceeds to the nonprofit National Geographic Society to fund work in the areas of science, exploration, conservation and education. For more information visit natgeotv.com or nationalgeographic.com, or find us on Facebook, Twitter, Instagram, YouTube, LinkedIn and Pinterest.

About Boulder Media Inc.

The licensee for National Geographic Magazine Traditional Chinese Edition.

About Wheelock Properties

Wheelock Properties is a wholly-owned subsidiary of Wheelock and Company Limited. Its principal activities include the undertaking of property development, sales and marketing, and asset management functions of certain Wheelock and Wharf Group properties. Wheelock Properties is committed to fulfilling its corporate social responsibilities and is keen in various community services, such as education programme (Project WeCan), environment protection, arts & culture as well as community engagement projects.

“Ear Up Incubation” helps 12 local groups to four awards at the “Ear Up Music Festival”

HONG KONG SAR – Media OutReach – 9 April 2021 – Now in its fourth year, the “Ear Up Incubation” music mentorship programme reached another milestone for the local music industry when 12 Hong Kong based groups were chosen as finalists in the long-awaited Ear Up Music Festival in March 2021.

Credit: Ear Up Music; Photo: Waiho Ng @ Plate Creations

Credit: Ear Up Music; Photo: Waiho Ng @ Plate Creations

Covering a variety of music genres, the groups took four major awards including the “Ear Up Grand Prize”, the “Ear Up Creativity Award”, the “Ear Up Performance Award” and the “Ear Up Audience Award”.

12 Groups Rocked the Stage

Despite the challenges created by the COVID-19 situation, a year training programme concluded with the 12 finalists displaying their talents at the Festival which was held in the Free Space of the West Kowloon Cultural District.

The 12 Finalists

  1. Andy is Typing…
  2. Chonotenki
  3. Elly C
  4. METER ROOM
  5. Noisy Charlie
  6. TAOTAO & flat550
  1. WHIZZ
  2. wongguyshawn & sumj.chan
  3. ZELOS
  4. Gigi Cheung
  5. Plural
  6. Cool Cool Cat

The award winners

TAOTAO & flat550 an R&B group with an electronic touch won the “Ear Up Grand Prize”, and the “Ear Up Audience Award” and were the clear favourites of the online live viewers.

Chonotenki and WHIZZ were joint winners of the “Ear Up Performance Award” and demonstrated their passion by enticing the audience to get up on their feet and dance.

wongguyshawn & sumj.chan swept up the “Ear Up Creativity Award” with their innovative progressive instrumental blend of fusion, electro and jazz.

Next Stop: The world!

Mr YUEN Chi-Chung, a veteran music producer and the project director of this year’s Ear Up Incubation programme said, “We were delighted with impressive improvements of the participants which clearly proved their potential to reach the international stage. The programme gave the participants a comprehensive view of local music and led to a clear identification of their own uniqueness and position. With the tremendous response for Festival tickets, we are optimistic about the future of Hong Kong music.”

Fostering new Hong Kong music

Ear Up Music is a music label that was tasked by the Renaissance Foundation Hong Kong to develop a sustainable and diverse music ecology in the city and nurture rising young music stars. Sponsored since 2016 by Create Hong Kong (a Government unit that aims to develop Hong Kong into a regional creative capital), the label created the “Ear Up Incubation” programme to spotlight new music in Hong Kong and in neighbouring regions and beyond.

Apart from dedicated small group mentorship sessions, the programme also includes a series of performance workshops and international forums for young musicians to enhance their live performance skills, understand the latest industry trends and discover potential collaboration opportunities. Live house showcases and school showcases are also arranged for participants to gain performance experience and build up a fanbase. All the participants are selected through an open recruitment and audition process organised by Ear Up Music.

Ear Up Music Social Media

Facebook: https://www.facebook.com/earupmusic

YouTube: https://www.youtube.com/c/earupmusic

Instagram: https://www.instagram.com/earupmusic/

About Ear Up Music

Ear Up Music is a music label that spotlights new music of Hong Kong to its neighbouring regions and beyond. The label, established by Renaissance Foundation Hong Kong in 2016, runs numerous projects from talent development to showcase events that connect with global music networks. These projects include Ear Up Incubation, Ear Up Global, Ear Up Tour and Ear Up Gig On.

In 2018, we founded Ear Hub to curate the latest developments in the Hong Kong, Asian and International music, media, production and interactive industry. Ear Hub is an international music conference and festival that offers an audiovisual feast as well as a cordial environment to initiate cross-border collaborations for music lovers and professionals.