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Kerry Logistics Network Posts 30% Growth in Revenue Core Net Profit Increased by 33%

HONG KONG SAR – Media OutReach – 25 March 2021 – Kerry Logistics Network Limited (‘KLN’, the ‘Company’ or together with its subsidiaries, the ‘Group’ or ‘KLN Group’; Stock Code 0636.HK) today announced the Group’s annual results for 2020.

Group’s Financial Highlights

  • Revenue increased by 30% to HK$53,361 million (2019: HK$41,139 million)
  • Core operating profit increased by 20% to HK$3,320 million (2019: HK$2,765 million)
  • Core net profit increased by 33% to HK$1,828 million (2019: HK$1,374 million)
  • Profit attributable to the Shareholders for 2020 was HK$2,896 million. Excluding the gain from disposal of two warehouses in Hong Kong in 2019, it represents a remarkable year-on-year growth of 58% (2019 normalised: HK$1,830 million)
  • Integrated Logistics (IL) business recorded a segment profit of HK$2,583 million (2019: HK$2,435 million), which represents an increase of 6%. The growth in IL segment profit was affected by the reduced profit contributed by lesser number of warehouses in Hong Kong compared with 2019. Should this impact be normalised, segment profit of IL business should have increased by 8%
  • International Freight Forwarding (IFF) business recorded a 64% increase in segment profit to HK$1,017 million (2019: HK$622 million)
  • Proposed final dividend of 23.8 HK cents per share, to be payable on Friday, 11 June 2021


William MA, Group Managing Director of KLN Group, said, “The COVID-19 pandemic has brought unprecedented challenges to everything from global public health to people’s livelihoods. The stop-and-go momentum of the global economy has caused severe disruption to the global supply chain. With human mobility severely curtailed, the role of logistics has become ever more paramount. Every link in the supply chain from sourcing and manufacturing to the distribution of finished products must still be maintained. Even as the pandemic forced millions of corporate employees around the world to work from home, our teams have been working tirelessly on the frontline, maintaining 24/7 services across some 150 international hubs to support various industries and sustain people’s daily lives. In 2020, thanks to the collective efforts of our colleagues and business partners, KLN Group achieved record growth in both revenue and core net profit, clearly demonstrating the Group’s resilience and capability to evolve through the pandemic.”

IL Growth Sustained


KLN Group’s IL division recorded a normalised segment profit growth of 8% in 2020, mainly driven by the strong performance in Hong Kong and Taiwan.

In Hong Kong, the IL division grew by 10% in 2020, benefitting from the rise in demand for home-delivered daily necessities, electronic goods and pharmaceutical logistics. The Hong Kong warehouse business contracted in 2020 compared with 2019 mainly due to the disposal of two warehouses in 2019 1H.

In Mainland China, the segment profit for the IL division bounced back in 2020 2H, offsetting the 37% drop in 2020 1H. This was due to the resumption of manufacturing activities, recovery of local consumption and the rapid growth of the e-commerce market in Mainland China.

In Taiwan, the IL business expanded by 19% year-on-year in segment profit, capitalising on the growth of semi-conductors and electronics manufacturing, the increasing demand in pharmaceutical logistics as well as the rise in e-commerce business. The robust performance of Science Park Logistics’ bonded operations was another driver for its growth.

In Asia, the IL business sustained despite severe lockdowns across the region, driven by the switch from consumer goods business to the essential supply sectors. The Group expanded its express business to the Philippines through the establishment of a joint venture company in 2021 Q1 in which the Group has a 51% interest.

IFF Thrived


The IFF division was the powerhouse of KLN Group’s business in 2020, accounting for 28% of the total segment profit, with its segment profit for the full year increasing by 64% year-on-year compared to a 40% growth in 2020 1H. The growth was mainly driven by a high global demand for pandemic-related goods as well as production and exports from Mainland China. It created the favourable conditions for the Group to capture opportunities from the unprecedented volatile global freight market, in terms of rates, capacity and equipment availability.

Kerry Apex recorded an increase in volume of 17%, strengthening its Trans-Pacific market position. It was the number one NVOCC from Thailand, Vietnam, Indonesia and Malaysia to the US, the number two NVOCC from Asia to the US for 2020.

Facility Portfolio Updates

In Mainland China, the 340,000-sq-ft chemical logistics centre in Cangzhou commenced operation in 2021 Q1. Construction of the 827,000-sq-ft logistics centre in Qingdao is expected to complete in 2021 Q2. The 1,043,000-sq-ft logistics centre in Guangzhou, the 305,000-sq-ft chemical logistics facility in Zhangjiagang, the 644,000-sq-ft hub and logistics centre in Zhuhai and the 545,000-sq-ft bonded logistics centre in Hainan are expected to complete construction in 2022.

Proposed Strategic Investment from S.F. Holding


On 10 February 2021, a Joint Announcement was made amongst S.F. Holding (acting through its wholly-owned subsidiary), the Company and Kerry Properties Limited, a Controlling Shareholder and substantial shareholder of the Company. Pursuant to the Joint Announcement, S.F. Holding will make a voluntary conditional cash offer to shareholders to acquire a controlling stake in the equity interest of the Company. The proposed transaction is subject to satisfaction of certain pre-conditions. These pre-conditions include certain inter-conditional special deals, including the disposals of certain Hong Kong warehouses and the Company’s Taiwan businesses, being entered by the Company with Kerry Holdings Limited, the substantial shareholder of the Company. If the proposed transaction does not proceed, these special deals also will not proceed.

William Ma concluded, “Scale and technological advances are crucial for any company in this industry to retain its competitiveness over its peers and drive changes in the global logistics arena. To this end, the proposed strategic cooperation with S.F. Holding will scale up KLN Group, extending its reach and enhancing its R&D capabilities. The Group’s performance in 2020 stands as testament to the capability in devising creative and efficient logistics solutions, which were in high demand when the global supply and logistics infrastructure suffered damage. KLN Group is prepared to seize any opportunity that may arise, as well as to enhance its value for stakeholders.”

About Kerry Logistics Network Limited (Stock Code 0636.HK)

Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and the strongest coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal), industrial project logistics, to cross-border e-commerce, last-mile fulfilment and infrastructure investment.

With a global presence across 59 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world’s emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.

Kerry Logistics Network generated a revenue of over HK$53 billion in 2020 and is the largest international logistics company listed on the Hong Kong Stock Exchange.

CanAm’s Position as EB-5 Industry Leader Reaffirmed by Independent Audit

EB-5 regional center operator, CanAm Enterprises, continues to build on its track record of approved visas and repayment of capital.

 

HONG KONG SAR – Media OutReach – 25 March 2021 – CanAm Enterprises (CanAm) has built a solid reputation for delivering results for its immigrant investor clients over the past three decades, and for the third time, it has validated those results with a third-party professional audit of its accumulated track record as of December 31, 2020. Certified audit results evidence that an overwhelming 99%* of the USCIS adjudicated immigration petitions have been approved and that CanAm has repaid more than $1.8 billion to more than 3,600 EB-5 investor-families across all six of its EB-5 Regional Centers.

“At CanAm, we understand that an investment into the EB-5 program by each of our investor families is one of the most important decisions a family can make. We take very seriously our commitment and responsibility to be a trusted partner to our EB-5 clients and to doing everything we can to ensure their immigration aspirations and investment goals are achieved,” said CanAm President and CEO Tom Rosenfeld. “This is especially true now because of the uncertainty and anxiety caused by the COVID pandemic and its adverse impact on many businesses and personal investments. We hope that our investor families are reassured by the results of our recently completed audit, which indicates that, in spite of the economic hardships and unprecedented challenges caused by the pandemic, during 2020 CanAm repaid 100% and on-time more than $450 million in EB-5 loans from five (5) unique projects.”

CanAm commissioned an audit by the internationally recognized accounting firm of PKF O’Connor Davis, LLP to provide EB-5 investors and industry stakeholders with a credible, third-party verification of the accuracy and authentication of its EB-5 track record. PKF performed a comprehensive audit of several thousand CanAm investor records, cross-referencing USCIS-issued notices, bank statements, and related financial documents for every CanAm EB-5 investor who had a USCIS adjudication or scheduled investment repayment.

“We are very proud of CanAm’s leadership role and its ongoing practice of achieving new industry milestones,” said Mr. Rosenfeld. “To my knowledge, we have among the best track records in the EB-5 industry in both petition approval rate and repayment of capital. A track record like ours does not happen by accident; it is the result of hard work, attention to detail and a corporate culture that always puts the interests of our investor families first.”

CanAm strives to provide full transparency to its EB-5 investor clients. Please contact us if you would like a copy of the PKF audit results.

*Note: PKF was able to verify that the denials were unrelated to sponsored projects associated with CanAm’s Regional Centers.

About the EB-5 Program

The EB-5 Immigrant Investor Program (EB-5 Program) is administered by the United States Citizenship and Immigration Services (USCIS). The EB-5 Program provides qualified foreign investors with the opportunity to earn a permanent green card in return for investing $900,000 in projects located in high unemployment areas that create at least ten permanent full-time jobs for U.S. workers.

About CanAm Enterprises

CanAm is an integrated, multinational investment management firm that specializes in immigration-linked investment funds and private equity. With over three decades of experience, CanAm’s strategic approach to utilizing investor capital and managing risk has raised over $3 billion in private placement funds. Headquartered in New York City with offices in Shanghai, Beijing, Ho Chi Minh City, New Delhi, Dubai, Singapore, and Hong Kong, CanAm is proud to serve a domestic and international community of investors.

Laos Sets Goal to Restore Forest Cover to 70 Percent by 2025

Laos sets goal for 70 percent forest cover by 2025

The government of Laos has set a goal of restoring forest cover to over 70 percent by 2025, to ensure long-term environmental protection and reduce the risk of natural disasters.

JY Grandmark’s 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million

Manifest Advantage of “Eco-friendly and People-oriented Property”

Contracted Sales Grow against the Market Trend

Actively Expand Land Bank and Seize Opportunities on Urban Renewal

HONG KONG SAR – Media OutReach – 25 March 2021 – JY Grandmark Holdings Limited, a property developer, operator and property management service provider based in the People’s Republic of China, is pleased to announce its annual results for the year ended 31 December 2020 (the “Year”).

The Group positions itself as an “Eco-friendly and People-oriented Property Developer” and acquired land reserves in strategic locations with abundant natural resources, rich culture and potential for growth. The Group takes into account the natural and cultural resources of its project site in the design of properties to develop homes and communities that the Group considers to be truly liveable for buyers. This accurate positioning differentiates the Group from other property developers in the PRC.

During the Year, the Group’s revenue amounted to RMB2,347.1 million (2019: RMB2,402.8 million), representing a year-on-year(“yoy”) decrease of 2.3%. The Group’s annual profit amounted to RMB478.4 million (2019: RMB494.4 million), representing a decrease of 3.3% yoy. The Group’s gross profit amounted to RMB912.7 million (2019: RMB1,144.2 million), representing a decrease of 20.2% yoy. Core net profit amounted to RMB427.3 million (2019: RMB446.9 million), representing a decrease of 4.4% yoy. Profit attributable to shareholders amounted to RMB485.2 million (2019: RMB501.5 million), representing a decrease of 3.3% yoy.

Position as an “Eco-friendly and People-oriented Property Developer” favored by the market Contracted sales grew against the market trend

In 2020, the Group achieved positive growths in terms of development area, sales area and sales. The aggregated contracted sales of the Group amounted to approximately RMB3,523.6 million, representing a growth of 13.1% yoy as compared to RMB3,116.3 million in 2019. The aggregated sales area was approximately 351,000 sq.m. ,representing an increase of 38.7% yoy as compared to approximately 253,000 sq.m. in the previous year.

Due to the epidemic, projects of environment improvement and living space improvement were sought after, with five projects including JY Uniworld (景業壹方天地) in Zhaoqing, JY Gaoligong Town (景業高黎貢小鎮) in Tengchong, JY Grand Garden(景業雍景園) in Qingyuan, JY Mountain Lake Gulf(景業山湖灣) in Zhuzhou and JY Hot Spring Villas(景業瓏泉灣) in Conghua recorded satisfactory subscription results. JY Egret Bay (景業白鷺洲) located in Lingao County, featuring vacation products, won active subscriptions from those who wanted home upgrading and recorded ideal transactions. It verifies the correct prediction and the competitive advantages of JY Grandmark regarding market layout and product strategy.

Increased Land Bank to Accelerate Geographic Deployment

In 2020, the Group also actively expanded the land bank and acquired more high-quality lands in the existing markets with established brand effect. In the meantime, the Group focused on Yangtze River Delta, provincial capitals in central and western China and hotspot cities to seek opportunities. Throughout the year, the Group acquired a total of 12 lands via bidding in three hotspot provinces, Guangdong, Yunnan and Jiangsu, adding 1,141,000 sq. m. to the reserve development area. In the investment of lands acquired, the Group adopted the cooperation model for some projects and developed the projects in collaboration with strong real estate enterprises to improve the overall benefit. As at 31 December 2020, the total gross floor area of the Group’s land reserves reached approximately 4 million sq.m..

Good performance on operational indicators and credit rating gained recognition from the capital market

With the good performance of operational indicators and credit rating, the Group won the recognition of the capital market and further developed the financing and credit channels. In March 2020, the Group successfully issued US$150 million of senior notes with the coupon rate of 7.5%. In December 2020, the Group entered into a facilities agreement of HK$734 million with certain financial institutions. As of 31 December 2020, net gearing ratio was at an industry-low level of 16.9%, decreased by 30.2 percentage points from 47.1% as of 31 December 2019. The Group will continue to optimise the asset-debt structure and maintain adequate liquidity in the long-run.

Property management recorded strong operational indicators

During the Year, Zhuodu Property (卓都物業), the property management arm of the Group, recorded strong operational indicators: the chargeable area under management reaching 662,400 sq.m., representing an increase of over 210% yoy; the revenue reaching approximately RMB18.3 million, representing a growth of approximately 27.1% yoy. What is worth noticing is that in addition to the basic property management fees, approximately 30% of the revenue of the property management arm were sourced from other operational businesses, and innovative businesses will also become the revenue growth drivers that Zhuodu Property will focus to develop.

Hotel operations actively developed the market

Two Just Stay hotels seized the opportunity of stable epidemic development and consumption release, launched promotion activities in line with the trend and actively developed the market, thereby ushering in the “peak season” with high occupancy and recovering the operational loss caused by the pandemic. In 2020, Just Stay Hotel (廣州卓思道酒店) and Just Stay Resort (從化卓思道溫泉度假酒店) recorded an aggregate revenue of about RMB61.4 million and the operating results remained stable.

Strengthening urban renewal business with target land bank of 4 million sq.m.

Policies will open channels for such businesses as urban renewal. At present, the Group is actively studying the feasibility of several urban renewal projects, such as the core areas of Guangzhou and Foshan. The overall planning area is approximately 4 million sq.m., which is planned to be gradually converted in the future, thereby bringing rapid growth to the land reserve and results of the Group.

Mr. Michael Chan, Chairman and Executive Director of JY Grandmark said, “In 2020, the world’s economy has slowed down due to the impact of COVID-19. Amid the pandemic, China’s economy witnessed a turnaround and recorded a growth over the year, bringing a positive signal and confidence to the recovery of all sectors and the improvement of business environment. The Company responded promptly to the epidemic, strictly followed the government’s instructions to implement epidemic prevention and control and realised safe resumption of work. It also leveraged its core advantages. The Group sprinted to the business performance objectives with collective wisdom and concerted efforts, united to recover from the impact of COVID-19 and achieved a robust growth.”

“The Group anticipates that the overall domestic property market will trend positive in 2021: on the one hand, demands of objective nature in the property market will be further released as the consumption recovers, which will stimulate the sales volume; on the other hand, policies will open channels for such businesses as urban renewal, and property investment and development will embrace new opportunities and growth points. Furthermore, new turning points emerge in the consumption market after the epidemic, with the focus on location and price changing to the focus on integrated experience that covers multiple aspects including products, supporting facilities and property services. This change will bring opportunities to the Group’s position as an ‘Eco-friendly and People-oriented Property Developer’.”

“Looking into the future, the Group will seize the policy opportunities and follow the process of city planning and urbanisation to develop the urban renewal business in regions of high conversion and growth potential. Based on the business strategy of diversified development, the Group will strengthen the resource coordination in businesses of property development, property management, hotel and commercial operation, to maximise the productivity of business segments. The post-epidemic era highlights the advantage of ‘Eco-friendly and People-oriented Property’. By creating products with unique competitive advantages, the Group will improve the brand recognition and influence. In 2021, the Group will maintain the existing development advantages and improve the competitiveness to promote high-quality growth and rapid scale expansion, so that it will create greater value for owners and shareholders.”

New Advanced Energy Compact Power Factor Correction Module Enables Greater Power Efficiency for Wide Range of High-Voltage Applications

Next-generation module optimizes utilization of electrical power for medical devices, unmanned aerial and terranean vehicles and a wide range of industrial applications

 

DENVER, COLORADO – Media OutReach – 25 March 2021 – Advanced Energy Industries, Inc. (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement and control solutions – today announced the launch of the Artesyn AIF06ZPFC series, a power factor correction (PFC) module that packs greater efficiency and density into a compact brick, the size of a smartphone. The AIF06ZPFC module is ideal for a wide range of high-voltage applications including medical devices, unmanned aerial and terranean vehicles, and industrial applications where extreme heat and cold are a significant factor.


“As a global leader in the design and manufacture of highly reliable power conversion solutions, we continuously strive to stay ahead of the innovation curve to meet the needs of our customers—often before they know what they need,” said Andy Brown, director of technical marketing, DC-DC, Advanced Energy. “The AIF06ZPFC series provides even better performance than our previous generation module, with greater efficiency and more functionality, including digital control and internal inrush limiting. This all combines to make the AIF06ZPFC easier to integrate and use, and we are already seeing some really interesting applications for this compact PFC brick.”

The AIF06ZPFC allows customers to pack more power into an application without having to increase the size of the module. Rated at 2400 watts, the module has a high conversion efficiency of 97.3 percent and provides a nominal non-isolated output voltage of 400 Vdc. This module series can be used as a standalone power supply in a diverse set of applications such as dental X-ray equipment, insulation tests, process control and automation and high-voltage motors and pumps. It is also ideal for applications such as tethered drones, where a high DC voltage source at low current is needed for power transmission over longer distances.

The AIF06ZPFC offers extensive monitoring, protection and adjustment capabilities, enabling applications to meet next-generation digital requirements. The built-in Power Management Bus (PMBus®) interface provides a full suite of commands and controls. The interface enables digital communication with other connected factory software and applications to deliver on the promise of Industry 4.0. The module also features a built-in, market-leading and patented inrush limit control function, which significantly simplifies application design for engineers by eliminating the standard industry requirement to provide this function with external equipment.

The AIF06ZPFC is available from Advanced Energy’s global network of sales representatives, distributors and value-added resellers. Full product details and technical specifications are published in the data sheet and on the product page of the company website.

About Advanced Energy

Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing, server storage and healthcare. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.


Advanced Energy | Precision. Power. Performance.

Employers Say Adaptive Skills More Critical To Business Viability Since Covid-19 Pandemic: NTUC LearningHub Survey

  • Adaptive skills have grown in importance since the start of the COVID-19 pandemic
  • Effective communication topped the list of key skills needed for business viability and it has grown in importance since last year (voted by 68% in 2021 vs 48% in 2020)
  • Teamwork is the second most important skill (55%), followed by Leadership (53%), Negotiation and Influencing skills (51%) and Digital Marketing (50%)

SINGAPORE – Media OutReach – 25 March 2021 – Since the start of the pandemic, workforce competencies have had to evolve, resulting in the increasing importance for adaptive skills in the workplace. In particular, more employers say that Effective Communication is key to business viability, making it the increasingly most sought-after skill (voted by 68% in 2021 vs 48% in 2020). This is one of the key findings in the recent NTUC LearningHub‘s Employer Skills Survey report.

The survey, which was conducted in February 2021 with business leaders across Singapore, aimed to uncover the most in-demand skillsets a year after the pandemic. The findings include the top skills by industry cluster: Built Environment, Essential Domestic Services, Lifestyle, Manufacturing and Professional Services, and Trade and Connectivity.

As the job market evolves to adapt to the long-lasting impact of COVID-19 on the workplace, more employers require workers to possess both adaptive and digital skills that enable them to work remotely in new environments. Effective Communication, an adaptive skill that helps close information gaps in times of uncertainty, establish clear expectations, and align purpose among employees, has become increasingly important in industries including Manufacturing (74%), Essential Domestic Services (71%), and Lifestyle (50%).


Overall, while digital skills were voted by many employers, adaptive skills have topped the list of competencies which are business imperatives while having increased in importance. Teamwork is the second most important skill (55% in 2021 vs 52% in 2020), followed by Leadership (53% in 2021 vs 45% in 2020), Negotiation and Influencing skills (51% in 2021 vs 46% in 2020) and Digital Marketing (50% in 2021 vs 44% in 2020).

Commenting on the findings, NTUC LHUB’s Chairman Eugene Wong, says, “As businesses adapt new modes of working, effective communication is crucial for companies to relay new systems and ways of doing businesses amongst their workforce. Teamwork and decisive leadership are also key to navigating the new world order. In addition, as companies push for digitalisation to attract and retain consumers online, digital marketing remains a top skill. To future-proof a company’s viability as well as one’s employability, it is imperative to possess a hybrid set of coveted adaptive and digital skills.”

“COVID-19 continues to leave an indelible mark on the economy and jobs at large. To keep viable, many companies which have been pandemic-stricken have had to pivot business models and find new revenue streams. The workforce competencies required to support new ways of doing business therefore have to evolve and workers could stand to benefit from identifying these sought-after skills and upskill themselves where necessary,” he adds.

To download the Employers Skills Report 2021, visit: https://www.ntuclearninghub.com/employer-skills-report-2021/

About NTUC LearningHub

NTUC LearningHub is the leading Continuing Education and Training provider in Singapore which aims to transform the lifelong employability of working people. Since our corporatisation in 2004, we have been working with employers and individual learners to provide learning solutions in areas such as Cloud, Infocomm Technology, Healthcare, Employability & Literacy, Business Excellence, Workplace Safety & Health, Security, Human Resources and Foreign Worker Training.

To date, NTUC LearningHub has helped over 25,000 organisations and achieved over 2.5 million training places across more than 500 courses with a pool of over 460 certified trainers. As a Total Learning Solutions provider to organisations, we also forge partnerships and offer a wide range of relevant end-to-end training solutions and work constantly to improve our training quality and delivery. In 2020, we have accelerated our foray into online learning with our Virtual Live Classes and, through working with best-in-class partners such as IBM, DuPont Sustainable Solutions and GO1, asynchronous online courses.

For more information, visit www.ntuclearninghub.com.

Urban Resort Concepts Appoints New CEO To Lead Brand Into New Era of Ultra Luxury Hospitality

SHANGHAI, CHINA – Media OutReach – 25 March 2021 – Urban Resort Concepts has appointed luxury hospitality leader, Mr Mark DeCocinis as Chief Executive Officer, to helm the next phase of its growth and development of the renowned portfolio of ultra-luxury destination properties which include The PuLi, Shanghai, PuXuan in Beijing and RuMa in Kuala Lumpur.

Mr DeCocinis joins Shanghai-based Urban Resort Concepts with over 35 years of leadership experience in luxury hospitality.

The appointment underscores the company’s plan to elevate and enhance its collection of ultra-luxury destination hotels and residences located in prime locations, while moving forward with global expansion plans including China, Asia Pacific and key gateway destinations under the Urban Resort Concepts umbrella.

As CEO, Mr DeCocinis’ passion lies in driving collaboration to deliver operational excellence, challenging his teams to develop innovative approaches to winning and delivering luxury business while building a bespoke handcrafted hotel brand.

Urban Resort Concepts will continue to focus on innovation throughout the portfolio, with the goal of investing in its people, elevated experiences for guests and new aspirational immersive features.

Mr DeCocinis said: “My priority is to collaborate in alignment with our owners, colleagues and partners, focusing on continued growth and business performance of the Urban Resort Concepts portfolio at a critical time for the industry.

“We will set new expectation levels in the ultra-luxury hospitality segment with experiences unique to each of the destinations with a deep culture of service and guest experiences recognisable as an Urban Resort Concepts benchmark.”

Mr DeCocinis enjoys a successful track record of leading luxury hotel companies, collaborating closely with investors and owners, building a culture of service and luxury brand management.

He served as President and Chief Operations Officer of One&Only Resorts, leading its strategic development and operational performance in nine countries. Prior to this, he was Executive Vice President of Shangri-La International, overseeing global operations and development.

Mr DeCocinis joined The Ritz-Carlton Hotel Company in its foundation years, where he held various leadership positions based in the US and Asia for over two decades. In his last role as Regional Vice President, Asia Pacific, he was responsible for the overall leadership of The Ritz-Carlton Hotel Company in Asia Pacific, increasing the portfolio from six to 20 hotels including the opening of Asia’s first Ritz-Carlton Reserve, Bulgari and Edition properties.

His work has been recognized in The People’s Republic of China with the prestigious Friendship Award, presented by Premier Wen Jiabao & President Hu Jintao in 2004. He is also the recipient of the Magnolia Gold Award 2003, Magnolia Silver Award 2001 from Mayor Han Zheng of the Shanghai Municipal Government, for his contribution to business, people development and support for the Shanghai Children’s Welfare Foundation.

In his leisure time, Mr DeCocinis is an accomplished long-distance runner and has successfully competed in over 100 marathons and ultra-marathons across the globe.

Urban Resort Concepts global portfolio of award-winning ultra-luxury hotels and resorts include The PuLi Hotel and Spa, Shanghai, The PuXuan Hotel and Spa, Beijing and The RuMa Hotel and Residences, Kuala Lumpur, with further properties under development across the region including Moganshan, Shenzhen, Pudong Shanghai, Kyoto and Tokyo.

Italian design incorporates flavour with a decanter bottle Barbera dell’Emilia IGT

TORRILE, ITALY – EQS Newswire – 25 March 2021 – Tradition, innovation and a design twist is a formula that CECI 1938 has made its own, underlying the distinctive character of the unique creations produced by the famous winery from Torrile, Italy. The care that CECI 1938 takes in producing wine is highlighted by the design of the distinctive bottles that tell its story and heighten its flavour, giving the product a unique appeal.

“Decanta is a great success in China thanks to our collaboration with our partner Fortune Legend (Fujian) Wine Co. Ltd. It’s a wine enhanced by its own bottle, a true design object that expresses the Italian taste for beauty and flavour. The wine presented is a red, a Barbera IGT”, says Maria Teresa Ceci, CEO of Ceci 1938.

The Decanta line is a still red wine with a ruby-red colour that is warm, smooth and enveloping. It is housed in a bottle with an unusual teardrop shape, appearing to have a piece cut out of its side allowing it to be positioned horizontally and thus turned into a decanter.

In the vertical position the black glass bottle is a true design piece with a young, contemporary mood whose concept is enhanced by the highly original tag, a 360° graduated protractor describing the tilt of the bottle. The bottle is in fact designed to tilt to 68.2 degrees, allowing ideal oxygenation of the wine and triggering the release of an intense bouquet of ripe fruit, with spicy and balsamic notes. The bottle, the work of a design student from the BURG school in Germany, won the prestigious Bruni Glass Design Awards.

“We are proud to represent Italy in China with creations like Decanta, which has been given an extraordinary welcome by the public. In this product we combine the quality of our wine with the sophistication of the design, which in this case plays an essential role by enhancing the organoleptic characteristics of our Barbera”, adds Maria Paola Ceci, President of CECI 1938.

The discreet label is positioned on the section that becomes the base of the container when in a tilted position. On the table, the bottle will have an elegant, uniform look, ideal for a dinner, lunch or aperitif among friends; it is the ideal centrepiece.

Decanta wine, produced from Barbera grapes, has an alcohol content of 14% and is recommended served at a temperature of 16/18° in order to fully enjoy all its characteristics. Decanta adds a touch of red to those special shared moments.

Images available at this link: https://we.tl/t-XPDADlx9TE

DECANTA ROSSO

TECHNICAL DATA

Appellation: Barbera Emilia I.G.T.

Category: dry still red wine

Grape variety: Barbera

Harvest: mid-september

Soil: silty-calcareous

Process: red vinification

Winemaking: steel tanks

Alcohol level: 14% vol.

Residual sugar: 9 g/l

Total acidity: 5.5 g/l

Serving temperature 16/18° C.

Sizes available: 0.75 l

Code: L-1

The data are intended as standard of product

TASTING NOTES

Appearance: Ruby red colour.

Nose: Deep mark of ripe fruit, cherries in alcohol, spicy sensations and balsamic notes, slight vegetal hints in the finis h.

Palate: Warm and moderately smooth. Ripe red fruit reconfirms its taste, the strong freshness and noticeable but not intrusive tannic texture, constitute an elegant balance obtained also thanks to the passage in wood. The slightly spicy and vegetal finish is lingering and persistent.

Suggested pairings: The perfect pairing with tasty and well-structured meats such as game, roasted, braised and grilled meats and it is excellent with aged cheeses. It pairs perfectly with first courses rich in flavour and with pork stew with caramel brown source, salty fried hairtail, smoked duck.

PRIZES WON BY DECANTA

2018 – GOLD MEDAL – CWSA CHINA WINE SPIRIT COMPETITION

2019 – GOLD MEDAL – CWSA CHINA WINE SPIRIT COMPETITION

2020 – GOLD MEDAL – ASIA IMPORT NEWS

2021 – GOLD MEDAL – CWSA CHINA WINE SPIRIT COMPETITION

CECI 1938

Cantine CECI 1938, an international winery for over 80 years, brings the passion of Italian tradition to the world, together with a forward-looking vision and a relentless desire for innovation. CECI 1938 produces one of the world’s best-loved Lambrusco wines – the famous red bubbles – a wine that the company has

transformed over time into a unique nectar, setting new standards of recognisability. It’s a smooth wine, an ode to conviviality that lends itself beautifully to pairing; a true icon of the winery’s modernity.

Online, the company tells its story through the www.lambrusco.it website, a domain registered with pride and foresight in the early 1990s.

Design plays an essential role in CECI 1938’s style, fuelling its research into the shapes and colours used to create the unusual bottles and labels, truly stylish creations with a touch of cool.

The Ceci winery, established in 1938 by Otello Ceci, experienced an initial period of growth in the 1960s under Otello’s sons Bruno and Giovanni, who made their mark on the company for the next twenty years.

Today the grandchildren of Otello, Alessandro, Maria Paola and Maria Teresa, and the great-grandchildren Elisa and Chiara, continue the family’s story with their bold, distinctive choices, challenging the market by bringing inspirations and influences from other sectors such as fashion, design and art to traditional winemaking.

The aim is to stand out, offering an unconventional approach to one of the most traditional Italian industries, in order to speak to young people in a contemporary language.

CECI 1938 creations also include OTELLO CECI 1813 Edition Spumante Rosè, OTELLO CECI Color Therapy Spumante Brut, BRUNO E LE ROSE Spumante Rosè, NANI OTELLO CECI Spumante Brut and Extra Dry, Spumante CECI 1938 Brut and Extra Dry, Lambrusco TO YOU.

CECI 1938 products are distributed to 38 countries.