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Employers Advised to Adopt Fair Exchange Rates for Salaries, Wages Starting 1 October

Laos Enforces Kip-Only Salary Payments Starting October
Lao kip currency

UPDATED on 4 September at 2:01 PM


Starting 1 October, all organizations and companies in Laos that define salaries in foreign currencies and pay their employees in Lao kip are advised to adopt a fair exchange rate, according to a new directive from the Ministry of Labor and Social Welfare.

This move is in accordance with a Prime Minister’s Order on foreign currency management issued on 24 January and aligns with the Labor Law regarding salary payments.

The directive requires that wages, defined in foreign currencies, be converted to kip based on the exchange rate issued by a commercial bank within three business days prior to payment.

The National Labor Committee, along with provincial and district Labor Committees, Labor and Social Welfare Offices, and the Labor Inspection Office, will oversee compliance with these regulations. Companies must amend employment contracts and operational guidelines to meet the new requirements. Employers who pay wages at a rate lower than the bank rate will receive a written warning and must correct the issue.

The Lao Federation of Trade Unions has expressed concerns that fluctuations in exchange rates could pose financial challenges for some companies. Additionally, the Ministry of Labor and Social Welfare has noted that high inflation and rising living costs are driving many Lao workers to seek employment abroad for foreign currency earnings.

This directive is part of a broader effort to bolster the nation’s currency amid ongoing economic challenges.

HeeSay Brings ‘Community’ Concept to Life with Creative Interactions at White Party Vietnam


HANOI, VIETNAM – Media OutReach Newswire – 3 September 2024 – HeeSay, the LGBTQ+ online community, made a debut at White Party Vietnam 2024 as the ‘community’ concept materialized in its booth and sparked a buzz of excitement among local attendees.

The “Mini-Community” orchestrated by HeeSay featured several interactive games that mirrored online social scenarios within the app.

The “YAY!” game, inspired by the tacit agreement challenge, allows three people to spell out “HeeSay” using hand-held boards. Without being able to see the front of their boards, they had to discuss and coordinate their positions and the order of the boards to form the correct word.

According to the Market Head of HeeSay Vietnam, about 2,000 people have come to play games and experience actual HeeSay functions through face-to-face interactions. “‘Mini-Community’ has made it easier for them to grasp what HeeSay truly is and how it connects LGBTQ+ people beyond dating scenarios.”

White Party Vietnam, a premier DJ music event licensed by White Party Bangkok, was the perfect stage for HeeSay to showcase its brand. “As the sole social app partner for White Party Vietnam 2024, the ‘Mini-Community’ aimed to enhance local brand recognition by recreating the social scenarios our app is known for,” stated the Head.

Apart from the meticulously planned creatives, HeeSay extended its engagement virtually through social media. Participants were invited to snap photos with HeeSay’s outdoor billboards or share moments from HeeSay’s booth for a chance to win VIP or SVIP membership in the app.

Through various offline events, HeeSay has fostered global connections, and Vietnam, as one of HeeSay’s key markets, has made efforts to strengthen such ties via meaningful cooperation.

In June, HeeSay Vietnam partnered with a local HIV prevention and treatment service to help educate the LGBTQ+ community about HIV prevention via an offline workshop, aiming to create more positive and profound social impacts.

“Fostering a ‘Community’ has always been our goal at HeeSay. We aim to provide a platform offering recognition, inclusivity, and valuable health knowledge beyond just interactive entertainment,” the Head explained.

This June, HeeSay introduced its ‘community’ feature, enabling users to discover nearby offline events and join group chats for updates. The Head emphasized, “We plan to host more diverse offline events to create a positive social impact while strengthening our brand image.”

Hashtag: #HeeSay

The issuer is solely responsible for the content of this announcement.

National University of Singapore Postgraduate by Coursework Fair (NUS PGCF) 2024, Shaping New Educational Pathways Through Innovation and Insight

The NUS Postgraduate by Coursework Fair 2024 returns with a renewed emphasis on future-focused education, the fair features a hybrid format that connects prospective students with NUS experts. Attendees will discover advanced programmes designed to shape successful careers in a rapidly evolving world.


SINGAPORE – Media OutReach Newswire – 3 September 2024 – The National University of Singapore Postgraduate by Coursework Fair 2024 (NUS PGCF 2024) returns on 28 September 2024, offering prospective students an unparalleled opportunity to explore NUS advanced academic programmes. Focused on the theme “Shaping Your Future”, the fair showcases how NUS continues to equip future leaders with the skills needed to succeed in a rapidly changing world.

The National University of Singapore (NUS) host of the upcoming Postgraduate by Coursework Fair 2024.

Under the leadership of Lawrence Lee, Associate Director at the NUS Academic Programme Business Unit, who has overseen the development of the event since its inception in 2022, the fair will take on a hybrid format, combining in-person sessions at Marina Bay Sands with global virtual participation. This approach ensures that both local and international attendees can engage with NUS experts and explore various postgraduate opportunities.

Shifting to a Comprehensive Hybrid Format
The inaugural NUS PGCF in 2022 was held entirely online due to the COVID-19 pandemic, spanning several days. Despite the challenges posed by the pandemic, the event successfully attracted nearly 5,000 participants from over 70 countries. In contrast, the 2024 edition will take place as a one-day event, with both in-person and online sessions designed to provide more personalised interactions.

Participants can look forward to 12 live information sessions, which will be held at Marina Bay Sands and streamed online. Virtual attendees can join from anywhere in the world, while in-person participants will enjoy face-to-face consultations with programme representatives at consultation booths. Additionally, this year introduces the NUS PGCF 2024 Round-Table sessions, a new feature offering selected attendees small-group discussions with NUS faculty and programme consultants. Participants keen on joining these exclusive sessions can submit their CVs during the event registration process for a chance to be invited.

Growth in Scope and Impact
Since its inception, the NUS PGCF has grown considerably in both scope and impact. The 2024 event will feature 12 information sessions, 12 physical booths, 17 speakers and presenters, and a series of Round-Table discussions. “This expansion demonstrates NUS’ dedication to providing a comprehensive platform for prospective students to explore postgraduate education options tailored to their career aspirations,” Lawrence explains.

Addressing Key Challenges in Postgraduate Education
One of the primary challenges for individuals considering postgraduate education is finding a programme that matches their specific needs. While brochures and online materials provide basic information, they often fall short in offering personalised insights. The NUS PGCF addresses this by allowing attendees to engage directly with NUS faculty members and admissions officers, allowing attendees to ask targeted questions and receive personalised guidance. This year’s hybrid format enables both virtual and in-person attendees to benefit from these personalised interactions.

Innovation Driving the Programmes at NUS
As industries evolve, so must the programmes offered by educational institutions. NUS remains at the forefront of innovation, constantly adapting its offerings to meet the demands of the professional world. For instance, artificial intelligence (AI) is a significant driver of innovation today, and NUS has responded by launching the NUS AI Institute in March 2024. Alongside this initiative, the University will introduce several new Master’s programmes focused on AI by 2025, ensuring that graduates are equipped with the skills necessary for the future of work.

Exciting Highlights for Attendees
This year’s fair will feature a wide range of postgraduate programmes spanning disciplines such as business, law, technology, and healthcare, as well as multidisciplinary courses designed to develop skills across multiple fields. Attendees will also learn more about initiatives that make NUS education more accessible, such as the 40 per cent tuition fee rebate for Singapore citizens and permanent residents for over 80 Master’s degree programmes. As an added incentive, attendees will have the opportunity to win Amazon vouchers by providing feedback on their event experience on the event webpage.

Looking Ahead: The Future of NUS Postgraduate Fair
The NUS PGCF will continue to serve as a pivotal event for the university, showcasing its postgraduate offerings and providing prospective students with the tools to shape their future. Lawrence shares that he and his team are committed to expanding the event in the coming years, enhancing the value it offers to both local and international students.

Event Details
Postgraduate by Coursework Fair 2024
Date: 28 September 2024, Saturday
Time: 10:30am to 6:30pm
Venue: Marina Bay Sands, Singapore

To register, please visit: https://www.gevme.com/site/NUS-PGCF-2024

Hashtag: #NUS

The issuer is solely responsible for the content of this announcement.

National University of Singapore

National University of Singapore (NUS) is Asia’s leading global university, renowned for excellence in education, research, and innovation. Established in 1905, NUS offers a diverse range of programmes across disciplines, blending rigorous academic theory with practical application. Our inclusive community fosters a rich exchange of ideas, preparing students for global challenges. NUS is a hub for cutting-edge research, addressing key issues from health to sustainability. Committed to holistic education and social responsibility, we empower students to become well-rounded leaders who contribute meaningfully to society.

CashOn Signs Strategic Cooperation Memorandum with Wuxi Huishan (Shenzhen) Innovation Center to Promote Digital Economy Development in the Greater Bay Area

Innovation Center Invests RMB 9 Billion to Support Enterprises and Drive Technological Projects in Huishan


HONG KONG SAR – Media OutReach Newswire – 2 September 2024 – CashOn, Hong Kong’s first digital currency lending platform, announced today the signing of a strategic cooperation memorandum with the Wuxi Huishan (Shenzhen) Innovation Center. The cooperation aims to jointly explore digital currency lending matching services based on CashOn’s innovative fintech platform in the Greater Bay Area, striving to drive technological innovation and industrial growth in the digital economy.

Representative of Wuxi Huishan (Shenzhen) Innovation Center (Left) and representative of CashOn (Right)
Representative of Wuxi Huishan (Shenzhen) Innovation Center (Left) and representative of CashOn (Right)

Through this collaboration, CashOn will accelerate its international market expansion, further enhancing its competitive edge by providing practical financing solutions to customers. CashOn focused on fintech and Web3 applications, offering a platform that helps customers access cash liquidity by using digital currencies, finding and comparing quotes from multiple financial companies, and providing suitable lending solutions, enhancing the fluidity between digital currencies and fiat currencies.

Recently, CashOn was recommended by the GBA Youth Entrepreneurs Association to set up operations in the Wuxi Huishan (Shenzhen) Innovation Center. This opportunity will strengthen collaboration with the GBA Youth Entrepreneurs Association, deepen ties between Hong Kong and mainland enterprises, and create broader development opportunities for young entrepreneurs. Leveraging the rich resources and policy support of the Wuxi Huishan (Shenzhen) Innovation Center, CashOn will expand its business in the innovation and digital economy sectors.

Under the strategic cooperation memorandum, the Innovation Center will provide support in market expansion and resource integration, assisting CashOn in improving the layout of the international market. This collaboration will also effectively help CashOn seize potential opportunities arising from national development, quickly adapt to market changes, and establish deeper relationships with various enterprises.

Located in the core area of Shekou Prince Bay in Shenzhen, the Wuxi Huishan (Shenzhen) Innovation Center is a significant innovation incubation space under Wuxi Huishan Science and Technology Innovation Industry Group Co., Ltd, serves as a reverse accelerator connecting the technological and financial resources of Wuxi Huishan with the Greater Bay Area. Since June 2022, the center has signed agreements with 19 projects, totaling an investment of RMB 9 billion (HK$9.89 billion)[1]. The center will assist enterprises in settling in Wuxi Huishan by opening up scenarios and connecting resources in the future.

Recruiting Professional Talent in the Greater Bay Area to Drive Technological Innovation

Marvis Wong, Co-founder and CEO of CashOn, said, “We are deeply grateful for the collaboration with the Wuxi Huishan (Shenzhen) Innovation Center and the strong support from the GBA Youth Entrepreneurs Association. This partnership offers us the chance to engage with more international business leaders, exchange insights on blockchain and fintech development, and apply innovative thinking to our business growth, capitalizing on new opportunities in digital finance.”

Moreover, CashOn plans to recruit more Web3 and blockchain professionals in the Greater Bay Area to drive technological innovation and create job opportunities, injecting new vitality into the region’s economic growth. CashOn will fully utilize its technological and market advantages to provide more efficient digital currency lending services, thereby promoting innovation and development in the fintech industry.

Expanding into the ASEAN Market with Innovative Web3 E-Payment Solutions

ASEAN countries’ rapid economic development implies opportunities for more fintech solutions. Looking ahead, CashOn plans to expand into the ASEAN with innovative Web3 e-payment solutions, offering more financial service options to merchants and virtual asset holders. Marvis Wong stated, “CashOn will leverage its core strengths by introducing innovative lending solutions to meet the financing needs of local businesses and individuals, bringing advanced fintech technologies to the ‘Belt and Road’ countries, and supporting the collaborative development of the digital financial economy across regions.”

[1] The Wuxi Huishan (Shenzhen) Innovation Center has signed agreements with 19 projects worth RMB 9 billion (HK$9.89 billion) since June 2022: https://www.wuxi.gov.cn/doc/2022/06/02/3681042.shtml

Hashtag: #CashOn

The issuer is solely responsible for the content of this announcement.

CashOn

Founded in 2022, CashOn is a technology finance company focused on fintech and Web3 applications. The company is committed to providing secure, transparent, and efficient financial services through blockchain and smart contract technology. CashOn’s digital currency lending matching platform utilizes big data analysis and AI technology to help customers find and compare quotes from multiple financial companies, securing the most suitable loan solutions. The company’s goal is to drive the development of the virtual asset market and create the most excellent value for its customers.

Website:

Workato® Announces Official Speaker Lineup for Second Automate Singapore Conference

Leaders from Zuellig Pharma, Gulf Marine, Fullerton Health, PRISM+, Kuok Group and more will discuss new ways to approach AI, Automation, and Integration


SINGAPORE – Media OutReach Newswire – 3 September 2024 – Workato®, the leading AI-driven enterprise orchestration platform, unveiled the lineup of keynotes and speakers for its fourth annual customer and partner conference, Automate: Business As Unusual. The in-person event, taking place September 12, will set the stage for leaders in Asia to discuss how their companies are approaching AI, Automation, and Integration and share stories around increasing organizational efficiency and agility, driving business impact across organizations, and more. This year’s event will feature hands-on workshops and product demos, real use cases from customers and partners, top-tier networking opportunities, and more. The in-person event will be held at the Marina Bay Sands Convention Centre in Singapore.

“Last year, Automate was about The New Automation Mindset, the framework, and blueprint around approaching automation, integration, and AI at scale across the enterprise. This year, we’re focusing on business as unusual and how customers, partners, and prospects can ignite efficiency across IT, Finance, HR, RevOps, and Product, empowering everyone to integrate, automate, and scale,” said Vijay Tella, co-founder, and CEO at Workato. “Attendees will have the opportunity to hear from the leaders championing enterprise orchestration. Automate 2024 will be the moment for us to focus on the future of enterprise orchestration and the convergence of automation, integration, and AI.”

Attendees will hear about the current and future state of AI, Automation, and Integration in sessions from Luiz Enriquez, Group Chief Technology Officer at Zuellig Pharma; Ho Kuen Loon, Chief Executive Officer at Fullerton Health, Charles Tan, Senior Director, Philanthropy at Majurity Trust. Automate will feature engaging sessions such as customer case studies, panel discussions, product demos, and more. Notable sessions include:

  • The Responsive Enterprise in the Agentic Economy with Vijay Tella, Chief Executive Officer, Workato, Amlan Debnath, Chief Product Officer, Workato and Carter Busse, Chief Information Officer, Workato
  • Energizing the Core — Leveraging Technology to Drive End-to-end Business Orchestration with Luiz Enriquez, Group Chief Technology Officer, Zuellig Pharma, Vijay Tella, Chief Executive Officer, Workato
  • Agentic Orchestration: The Next Frontier of Enterprise AI with Bhaskar Roy, Chief of AI Products & Integrations, Workato, Bennett Goh, Group Product Manager, Workato
  • C-suite Fireside Chat: Supercharging Efficiency, Innovation and Experience with Intelligent Integration and Automation with Ho Kuen Loon, Chief Executive Officer, Fullerton Health, Vijay Tella, Chief Executive Officer, Workato
  • The Inevitable Choice of AI — Navigating a Necessary New Paradigm with Joseph Tsao, Chief Operating Officer, PRISM+, Aaron Engel, Chief Information Security Officer, ExpressVPN, Sean Ho, Managing Director, Fullerton Health, Bhaskar Roy, Chief of AI Products & Integrations, Workato
  • Orchestrating the Enterprise — Optimizing Business Processes to Drive Productivity and Streamlined Efficiency with Han Yong Low, Chief Information Officer, Kuok Group Singapore, Joey Chua, Director of Digital & IT Transformation, Gulf Marine, Damian Leach, Chief Information Officer, Seaco, Arnaldo Dantis, SVP for Operations and Business Continuity, Intellicare, Carter Busse, Chief Information Officer, Workato
  • Breaking the Mould — Innovation and Efficiency in the Field of Finance with Kenneth Cheung
  • Tech for Good — Transforming Communities and Tackling Social Challenges with Tech with Charles Tan, Senior Director, Philanthropy, The Majurity Trust, Leslie Li, Head of Information Technology, Alliance to End Plastic Waste, June Lee, General Manager, Asia, Workato

“Automate is all about networking with your peers, gaining new skills, and learning about automation and AI from the best in the business,” said Markus Zirn, Chief Strategy Officer at Workato. “We’ve always prioritized the customer experience and have cultivated a lineup of the best leaders from finance, HR, marketing, sales, and more to share how automation, integration, and AI have revolutionized their teams’ work. This year’s Automate will be bigger and better than ever.”

Workato will also announce the launch of Workato Cares, the company’s philanthropic initiative which aims to empower individuals with the knowledge, education and tools to succeed and enable non-profit organisations to do more with less, powered by enterprise orchestration. As a part of Workato Cares, the company announced it has joined Pledge 1% and is committed to donating equity, product, and time for social good.

Workato will introduce its first Workato Cares partner in Asia, The Majurity Trust, a Singapore-based philanthropic organisation that partners with donors and social impact organisations to build a thriving community for all. The Majurity Trust will leverage the Workato platform to tackle challenges in resourcing, improve operational efficiency and volunteer management processes and drive more effective fund-raising.

“We are excited to partner with Workato as we leverage integration, automation and AI to tackle challenges in resourcing, fund-raising and operations. The Majurity Trust is a firm believer that technology can empower the social services and non-profit sector, helping organisations consolidate critical resources and drive organisational efficiency,” said Martin Tan, Chief Executive Officer at The Majurity Trust. “ We hope that our collaboration paves the way for more organisations in the non-profit sector to adopt a crucial mindset shift — to embrace industry-leading technology as an enabler for a more equitable and sustainable world.”

Workato enables enterprises to transform their business operations by orchestrating business processes end-to-end and operationalizing AI across the entire organization. Designed with best-in-class security and governance, scalability, performance, and availability, Workato’s low-code, no-code platform makes it easy for IT and business teams to integrate their applications, data, and experiences.

For the full agenda and details on how to register for the in-person event, click here.

Hashtag: #Workato




The issuer is solely responsible for the content of this announcement.

Workato

The leader in AI-driven enterprise orchestration, Workato helps organizations drive business efficiency at scale without compromising security and governance. Built for Business and IT users, Workato is trusted by over 17,000 top brands, including Broadcom, Doordash, and Atlassian. Headquartered in Mountain View, Calif., Workato is backed by Altimeter Capital, Battery Ventures, Insight Venture Partners, Tiger Global, and Redpoint Ventures. For more information, visit workato.com or connect with us on social media:

The art of small adjustments: the global broker Octa’s take on why trading conditions are important


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 3 September 2024 – The experts at the global broker Octa examine some crucial aspects of trading and consider the role of trading conditions in the overall success, drawing parallels between trading and brewing coffee.

Octa

In trading, success often hinges on the tiniest of details. Depending on the trading style, an hour or a minute difference in setting a stop-loss or take-profit order can lead to critical variances in the outcome. Below, the experts at Octa, a globally recognised financial broker with more than 13 years of market experience, draw some parallels between trading and another activity highly dependent on minor differences: the brewing of coffee. Surprisingly enough, there are some essential tricks and ideas traders can pick up from baristas!

Small differences play a significant role
Regardless of the brewing method, the coffee-to-water ratio, grind size, and brew time are among the first benchmarks baristas determine when tailoring generic recipes to their specific conditions. Depending on these inputs, the resulting cup can either reflect the best qualities of the beans—or hide the positives while emphasising the negatives, negatively affecting both the flavour and aroma and spoiling the taster’s experience.

In trading, such factors as spread size, commissions, and deposit and withdrawal fees can quickly turn a profitable session into a failure. In sum, these marginal differences can accumulate to equal or even surpass the profits earned as a result of a trading session. Most of the time, success in trading is determined by the minor differences in market prices, so each pip counts. A narrower spread allows traders to enter and exit positions at more favourable prices, maximising potential profits.

Even with solid and flexible strategy, styling matches perfectly with temperament, and the sources of information provide quality market insights, one will only achieve consistent profits if chose a broker with favourable trading conditions. For those in doubt, this article will help to avoid the most common mistakes traders make when selecting a broker.

One of the most important criteria when choosing a broker is spread size. Broad spreads add up with time, significantly widening profits or reducing gains. To put it in perspective, for one of the most popular major currency pairs, EUR/USD, trading a standard lot with a 3-pip spread at $10 per pip equals $30 in spread cost per standard lot trade. For example, making ten trades daily, the daily spread cost would be no less than $300.

Due to global reach and extensive market experience, Octa, a broker with globally recognised licences, offers its clients one of the narrowest spreads on the market, starting from 0.6 pips. Along with the zero commission policy and a transparent withdrawal process, these conditions are worth considering for those who are looking to improve incremental profits.

Time is everything
When dealing with high-quality coffee, the timing of each step, such as roasting the beans or immersing coffee grounds in water, must be precise to extract the ideal flavour profile. Keeping the grounds in the boiling water for a few seconds too long can result in a bitter or overly strong brew. No matter how good the coffee beans are, the timing can make or break the preparation process.

In trading, as in coffee making, timing rules supreme. If entering or exiting a position a few seconds late, one can get a less favourable exchange rate, significantly reducing profitability. Of course, the choice of a trading style can reduce this effect: daily trading is less time-sensitive than scalping, whereas long-term strategies allow for a relatively leisurely schedule. Given that, mastering efficient time management is the key to succeed as even a slight delay can ruin profits.

The external factors matter
Any seasoned barista knows this: when operating an espresso machine, readjust the settings several times per shift to account for slight ambient temperature and humidity changes is a must. Water characteristics also affect the taste of the cup in a surprisingly significant way, especially when it comes to higher-range beans. The exact same grounds can taste quite differently depending on the water mineralisation.

Experienced traders know all but too well: following global economic news, geopolitical events, and key decisions of some governmental agencies and knowing when the seasonal shifts in market activity are due is simply a must. These events often cause rapid and extensive shifts in asset values, and ignoring them would be detrimental to profits over a long time. All traders, no matter the style, must anticipate and react to these fluctuations to capitalise on or mitigate their effects.

Using fundamental analysis, traders can readjust their strategies quite efficiently and successfully navigate the markets. With that in mind, it is worth noting that using various leverage options to profit from well-founded predictions and solid analysis can significantly increase your profits, provided you keep the risks in check and use risk management tools.

A seasoned trader and a high-class barista have surprisingly a lot in common: they take into account external factors, constantly readjust depending on the specific conditions within a given session, use precise calculations instead of trusting intuition, and keep in mind that even a slight difference can result in significant changes in the outcome.
Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

Completion of the Attainment of Controlling Stake in Ant Bank (Macao), Expanding Digital Financial Services in Macau and Globally


HONG KONG SAR – EQS Newswire- 3 September 2024 – AGTech Holdings Limited (HKEx stock code: 8279, hereinafter referred to as “AGTech”) is pleased to announce that it has officially completed the attainment of the controlling stake in Ant Bank (Macao) Limited (“Ant Bank (Macao)”) on September 2, 2024. The Transaction was completed for MOP 243 million through the acquisition of existing shares and the subscription of new shares of Ant Bank (Macao). Upon completion of the Transaction, AGTech holds approximately 51.5% of the issued share capital of Ant Bank (Macao), making Ant Bank (Macao) an indirect non-wholly owned subsidiary of AGTech.

AGTech is an integrated technology and services company that is dedicated to providing electronic payment, lottery and local consumer services, with a focus on Chinese Mainland and Macau. In recent years, AGTech has been strengthening its infrastructure and platforms to support the digital transformation of financial services in Macau and globally. As a licensed bank in Macau, Ant Bank (Macao) utilizes its leading technology and innovative solutions to provide the market with safe, inclusive, and convenient digital financial services.

The completion of the Transaction will enhance synergy between AGTech’s electronic payment services in Macau and Ant Bank (Macao)’s digital banking services. By integrating “payment plus inclusive finance” services with business scenarios and resources of the ecosystem, it will meet the diversified financial needs of the market, and foster the digital transformation of financial services in Macau. Through the synergies with AGTech’s various business units in life services, cultural entertainment and e-commerce, coupled with Macau’s leisure and tourism features, AGTech aims to create distinctive cross-border financial services to attract more cross-border tourists (who are eligible to receive such services) to visit Macau, thus supporting the economic development and growth of Macau.

According to the 2024 Policy Address by the Macau SAR Government, 2024 marks the first year of the implementation of the “1+4” moderate and diversified economic development strategy, with the modern financial services sector identified as a pivotal focus. The Government is committed to driving innovation in financial technology, using technology to bolster the financial sector’s development. It actively supports financial institutions to offer wide-range and accessible financial services for micro, small and medium-sized enterprises in Macau. AGTech’s attainment of the controlling stake in Ant Bank (Macao) represents a proactive alignment with this strategic direction.

Mr. Sun Ho, Chairman and CEO of AGTech, stated, “This acquisition is a milestone for AGTech. It reflects our commitment for the financial service sector of Macau and the broader digital economy, expanding our reach into the digital financial sector. Furthermore, it aligns with the Macau SAR government’s ‘1+4’ planning and drives innovation of the modern finance, injecting new vitality into financial technology innovation and economic diversification in Macau and globally.” By completing the Transaction, AGTech’s business scope will expand from digital payment services and digital local consumer services to digital financial services.

Hashtag: #AGTech

The issuer is solely responsible for the content of this announcement.

“City, or not City?”: GWM’s Global Users Tour in Chengdu Goes Viral


BAODING, CHINA – Media OutReach Newswire – 2 September 2024 – In recent years, Chinese cultural elements have gained widespread popularity worldwide. From the hit game Black Myth: Wukong, inspired by Chinese mythology, to viral trends like “City, or not City” and “China Travel” among foreign tourists visiting China, the unique charm and broad influence of Chinese culture are evident. On August 31st, GWM thoughtfully organized a unique tour of Chengdu, inviting global users and media representatives to experience the city’s endless charm and rich cultural heritage. This event marked the final stop of GWM’s international user and media tour in China, following visits to the “GWM Global Off-Road Factory” and the “2024 Chengdu Motor Show.”

“City, or not City?”: GWM’s Global Users Tour in Chengdu Goes Viral

The Chengdu tour was more than just a simple cultural exploration; it was a comprehensive showcase of GWM’s strength and appeal, providing an excellent opportunity for the brand to stand out. During the event, the guests first visited the Chengdu Research Base of Giant Panda Breeding, where they had a close-up experience with the adorable giant pandas. They then savored the bold and spicy flavors of Sichuan cuisine, gaining a deep appreciation for Chengdu’s rich culinary culture. This vibrant city, with its unique lifestyle, left every guest thoroughly immersed and reluctant to leave.

In the afternoon, the guests visited GWM’s exclusive dealership in Chengdu. The store manager provided a comprehensive introduction to GWM, covering the brand’s founding story, its globalization journey, and the innovation in product development and technological advancements. The discussion spanned from serving Chinese customers to reaching a global audience. Through this activity, the guests gained a deeper understanding of GWM’s brand strength, product capabilities, customer engagement, and service excellence, as well as the company’s profound expertise and outstanding competence in the automotive industry.

International users and media expressed their gratitude and delight regarding the recent event organized by GWM. An Australian participant praised the experience, saying, “GWM put a lot of effort into the User’s China Tour, making me feel like I wasn’t just buying a car but joining a family.” Another attendee from Dubai mentioned, “Visiting the panda base was such a rare and valuable experience, bringing us closer to nature and life. Tasting authentic Sichuan hotpot, with its spicy and flavorful profile, is something I still vividly remember. Not to mention the Sichuan opera face-changing performance; the intricate masks that change in an instant carry profound Chinese cultural significance. Chengdu is an amazing city! This truly was a unique trip.”

The Chengdu tour was not just a comprehensive showcase of GWM’s products and services; it was also a profound integration of culture and brand. Looking ahead, GWM will continue to join hands with global users to explore the unknown, create new opportunities, and set a new benchmark for Chinese automotive brands.

Hashtag: #GWM

The issuer is solely responsible for the content of this announcement.