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Singapore Court Orders Largest Block of Illegal Streaming Sites in Singapore
The Order was obtained by CAP members, BBC Studios, Discovery Communications, LaLiga, the Premier League and TVB International against illegal streaming sites that were offering access to some of the most sought-after content including premium sports, drama and entertainment. The Order covered the greatest number of sites and domains yet sought by CAP members. Under the Order Internet Service Providers must disable access to these illegal sites and their associated domains.
The Order is part of CAP's ongoing campaign in Singapore and around the region against illegal streaming sites. "Illegal streaming sites are simply illegal," said CAP's General Manager, Matthew Cheetham. "Piracy is not a victimless crime and hurts not only content providers but also consumers who can be exposed to viruses and malware when accessing illegal sites, including malware that can access a user's sensitive data such as banking details."
The Order comes shortly after the release of a new study commissioned by CAP, "Time to Compromise". The study showed that a typical user visiting illegal streaming sites could be infected by ransomware, several trojan horses, and other Advanced Persistent Threats (APTs) within 42 seconds on a Windows machine, and 78 seconds for an Android device. The results support the hypothesis that there is a nexus between illegal streaming sites and malware infections, where site operators generate significant revenue from allowing malicious ads to be placed on their sites. Malware authors can in turn gain access to consumer PCs and mobile devices, and all of the data held in storage, including access to banking login details and other sensitive logins.
A study on the online content viewing behaviour in Singapore, commissioned by CAP and conducted by YouGov shows that blocking sites is effective with the percentage of Singaporean consumers accessing illegal streaming sites and using Illicit Streaming Devices (ISDs) dropping in recent years. "Enforcement is key but so is consumer education," said Cheetham. "This Order carries a dual purpose in not only blocking access to illegal content but also informing consumers that the sites are illegal."
About the Asia Video Industry Association
The Asia Video Industry Association (AVIA) is the trade association for the video industry and ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. AVIA is the interlocutor for the industry with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry.
For media enquiries and additional background please contact:
Charmaine Kwan
Head of Marketing and Communications
Email: [email protected]
Website: www.avia.org
LinkedIn: www.linkedin.com/company/asiavideoia
Twitter: @AsiaVideoIA
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe Asia Video Industry Association's Coalition Against Piracy (CAP) commends the Singapore High Court for granting an Order to block 30 illegal streaming sites and almost 150 associated domains responsible for the distribution of considerable quantities of illegally streamed content in Singapore.
Winklevoss twins and global decacorn invest in US$29M Series A of Singapore-based fintech Volopay as it prepares APAC and MENA expansion
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The strategic investment from leading blue-chip investors will fuel Volopay's foray into the APAC and MENA markets to tackle two of the most pressing problems that SMEs and startups face - high Forex (FX) charges incurred for international payments and the lack of a uniform platform to access all spend data. Volopay provides companies with multi-currency wallets to hold money in their base currency and any major currency - USD, SGD, EUR, GBP - and subsequently use it for payouts, eliminating exorbitant amounts of FX charges levied on international payments.
Since its seed funding, Volopay has grown exponentially to better alleviate its clients' pain points. With a 150+ member team spread all over major business centres in the Asia Pacific region, such as Singapore, Australia, India, Indonesia, and the Philippines, Volopay has amassed an impressive clientele with the likes of Funding Societies, Zipmex, Moneysmart, Smartkarma, and Austrionova among others.
Volopay is disrupting traditional business banking and aims to be adopted as the single and only solution growing, global businesses need for their cards, invoice automation, and bill payments along with the added bonus of a multi-currency business account without the hassle and limitations of a traditional bank. To achieve this, Volopay has embarked on the ambitious objective of building its own infrastructure and applying for financial licences in its markets, something no other company has done regionally. Through constructing their own infrastructure, Volopay will enable their global clients to eliminate the need for integration with multiple third-party financial services platforms, delivering a consistent and delightful customer experience regardless of the region they are operating in.
Rajith Shaji, cofounder and CEO of Volopay shared, "Volopay is an ambitious project. To build an alternative to Volopay, you would have to launch five different startups. We are building the control centre for modern companies for all their financial management needs. Our platform is as easy and seamless to use for a five-person company, as it is for a 500-person company. We want to take our vision of a unified spend management platform to all companies across the world after our initial markets of APAC and MENA."
"With APAC & MENA making a big wave on the global stage by churning out several unicorn level enterprises every year, accelerating their growth requires an efficient expense management tool that is simple yet scalable, something that Volopay has always aimed for," said Rajesh Raikwar, cofounder and CTO of Volopay.
Justin Mateen, founder of Tinder and JAM Fund who led the round, said in a statement, "I've worked closely with Volopay's amazing team since my original investment at the pre-seed stage. Given the accelerating growth of the business, and the team's ability to innovate quickly on the product side with a single-stack and scalable platform across multiple jurisdictions, it was only natural to triple down and lead the Series A round. I am proud to partner with a leader in this space and to help support Volopay to scale to greater heights."
Michael Shum, Chief Investment Officer at Accial Capital said, "Accial Capital views the B2B corporate spend vertical as a way to support entrepreneurs and SMEs with liquidity and close the credit gap. Volopay has a great ambitious team focused on redlining the finance workflows with its robust technology. We are proud to partner with a leader in this space to help scale."
Part of Volopay's Series A funds will be put towards their forthcoming market launches, building and innovating new technologies to complement their existing product, in addition to enhancing integrations with leading enterprise software and project management applications. The company is also hiring aggressively for key positions in each of its markets.
About Volopay
Volopay is a Singapore-based company on a mission to build a financial control centre for modern businesses. Volopay combines business accounts, corporate cards, bill payments, expense reimbursements, credit, cashback, and accounting automation into one single platform. Since launching in Singapore and Australia the startup has been on a strong growth trajectory and is now stepping into India, Indonesia, and the Philippines with MENA expansion on the horizon. https://www.volopay.com/sg/
For media enquiries, please contact:
PRecious Communications for Volopay
[email protected]
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comVolopay, a Y Combinator-backed Singapore-based corporate cards, and payable management startup has successfully raised US$29 million in its Series A round through a mix of equity and debt. The investment round included participation from JAM Fund, Winklevoss Capital Management, Rapyd Ventures, Accial Capital, fintech veteran and angel investor Jeffrey Cruttenden - CEO of Acorns along with Access Ventures, Antler Global, and VentureSouq.
Online Brokerage Tiger Brokers Kicks off Green Sustainability Efforts Through WWF-SINGAPORE Partnership
WWF-Singapore's AR-mazing Tiger Trail will feature a 3-part island-wide trail that focuses on tiger conservation and other key environmental causes impacting the planet today, using art as a vehicle to educate, spark discussion and action. Today, there are approximately 3,900 tigers left in the wild. According to WWF-Singapore, the overall tiger populations are declining and many are still at risk. In some areas of Southeast Asia such as Cambodia, Lao PDR and Vietnam within the last 25 years, tigers have completely disappeared.
Eng Thiam Choon, Chief Executive Officer, Tiger Brokers (Singapore), shared "Together with WWF-Singapore, we aim to raise global awareness of the importance of tiger conservation efforts globally and across Asia. Celebrating Tiger Brokers' 8th anniversary this year, the year of the tiger and this initiative relates well with our brand identity and Tiger Mascot. More importantly, it kickstarts our journey as a force for good for the environment, society, and community at large.
As an innovative FinTech company, there is more we can do beyond just finance. Being one of the leading online brokerage companies, our focus lies in creating a better shared future for everyone. Since our inception seven years ago, we have been actively seeking ways to support people's global investing strategies through cutting-edge technologies. Similarly, our collaboration with WWF-Singapore leverages technology to raise awareness and engagement on the importance of maintaining biodiversity and a balanced ecosystem.
We hope that the WWF-Singapore's AR-mazing Tiger Trail campaign, featuring exceptional art pieces, will inspire individuals to do the right thing and raise awareness to protect our ecosystem. Together, we can do more to reverse the decline of wildlife than we can alone. Let's immerse ourselves in the fascinating art world and empower more people to get involved in WWF-Singapore's conservation work."
"WWF-Singapore is thankful for the support from our esteemed partners such as Tiger Brokers, who have made the WWF-Singapore's AR-mazing Tiger Trail possible. We hope that individuals and businesses will learn from this artistic trail and be inspired to play a more active role in tackling the climate crisis and protecting our natural biodiversity," said Mr. R. Raghunathan, CEO of WWF-Singapore.
Putting on a Green Lens
Sustainability will continue to be a key agenda in Tiger Broker's long-term strategy. As a first step, Tiger Brokers Singapore, in line with MAS' Green FinTech agenda, will be applying a "Green Lens" on all its business operations.
Since its inception in 2014, the company has been focusing on reducing its carbon footprint and actively promoting green and sustainable development by using artificial intelligence to develop its internet platform and online financial applications, going paperless and using energy-saving infrastructure.
This has a significant impact given that Tiger Brokers as of the end of third quarter of 2021 has over 1.767 million account opening customers worldwide and over 612,000 deposit clients worldwide, all of which are conducted in a paperless way, eliminating the need for users to go to prepare physical documents and reducing carbon emissions because of not having to visit a physical office.
At the group level, Tiger Brokers will be expanding its Environmental, Social and Corporate Governance (ESG) research team, combining its own technology and business advantages around ESG, the company hopes to use its own strength to help support sustainable issues such as carbon neutrality transition.
Promoting Green Investment for the Future
Amidst growing awareness of ESG and understanding of the role investors play in supporting a shift towards sustainable development, Tiger Brokers aims to empower them to go beyond managing the ESG risks in their portfolios, to also create positive and measurable environmental impact from their investment activities.
Today, retail investors can easily access and invest in over 60 sustainable funds that are on Tiger Broker Singapore's platform. This includes widely traded funds such as United Smart Sustainable Singapore Bond Fund and Fidelity Sustainable Asia Equity Fund. The company also aims to increase the number of sustainable funds substantially by 2022 by working closely with its partners.
"Retail investors have increasingly been wanting to do their part for planet earth and make a positive difference by investing in companies with higher Environmental, Social and Governance (ESG) ratings and business practices," said Mr Eng.
Recent studies have shown that young investors (millennials and Gen X) are more likely to consider social responsibility alongside their other investment strategies. In a research conducted on ESG and Socially Responsible Investing (SRI), the majority of the financial advisors (69%) surveyed felt that SRI will play a larger role in their practices.
According to financial data provider Morningstar, investors globally poured $142.5 billion into sustainable funds in the fourth quarter of last year, 12 per cent up on the previous quarter. ESG assets may hit $53 trillion by 2025, a third of global AUM based on estimation from Bloomberg.
Tiger Brokers continues to support equity financing and serve the real economy. The company continues to support the development of green companies and help green companies raise funds and go public. In 2021, Tiger Brokers served as the underwriter for ATRenew Inc. and helped it get listed on the New York Stock Exchange. ATRenew Inc. became the "first ESG stock" in China, and its integrated low-carbon circular economy platform has been welcomed by many users in China.
"We are seeing a growing interest among investors investing in sustainable funds. Tiger Brokers Singapore will continue to evolve to become more lifestyle-centric, appealing to the young investors, and aligning with their interest in social responsibility and sustainability investing," added Mr Eng.
The Tiger Trade mobile application is available for download on the Apple App Store and Google Play Store.
For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: [email protected]
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Any views shared with Prospective Clients ("Prospects") are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects' investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers in not in a position to verify.
About Tiger Brokers (Singapore)
Tiger Brokers (Singapore) Pte Ltd (herein "Tiger Brokers") may, to the extent permitted by law, participate or invest in other transactions with the issuer of the products referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. The information herein is for recipient's information only and not an offer to sell or a solicitation to buy. Any date or price information is indicative only and may be changed without prior notice. All opinions expressed and facts referred to herein are subject to change without notice. The information herein was obtained and derived from sources that we believe are reliable, but while reasonable care has been taken to ensure that stated facts are accurate and opinions are fair and reasonable, Tiger Brokers does not represent that it is accurate or complete and it should not be relied upon as such. The information expressed herein is current and does not constitute an offer, recommendation or solicitation, nor does it constitute any prediction of likely future stock performance. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person or affiliated companies. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances. Tiger Brokers assumes no fiduciary responsibility or liability for any consequences financial or otherwise arising from trading in securities if opinions and information in this document may be relied upon.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comTiger Brokers (Singapore) Pte. Ltd. ("Tiger Brokers Singapore") today announced a partnership with World Wide Fund for Nature Singapore (WWF-Singapore) to promote green sustainability efforts in Singapore. Tiger Brokers, as the lead sponsor with WWF-Singapore, will be launching the first AR-mazing Tiger Trail at Gardens by the Bay on 26 February, to kickstart the company's sustainability agenda in 2022.
MContent Collaborates With PwC for a First of Its Kind Cineverse Experience
PRESS RELEASE. DUBAI, UAE: MContent has announced the arrival of the Cineverse to the world whereby they aspire to bring Cinema to people anywhere, anytime – MContent and their launch was enabled due to a collaboration with PwC Middle East emerging technology teams.
A high-end launch event was attended by notable guests at Palm […] MContent and PwC Collaborate To Showcase Cineverse to The World
MContent has announced the arrival of the Cineverse to the world whereby they aspire to bring Cinema to people anywhere, ... PIL’s Revenue Hit All-Time High for FYE 2021
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The overall performance of the Group recovered commendably in 2021, with growth driven by improved contributions from both the ATE and FAS business segments with each segment accounting for approximately 70.1% and 29.9% of the total Group's revenue, as compared to 2020 of 67.6% and 32.4%, respectively.
ATE segment
With a revenue contribution rate of 70.1%, the ATE segment continued to contribute the larger portion of the Group's overall revenue and profit. After witnessing a decline in revenue last year, total revenue from this segment marked a turnaround and grew at a double-digit rate of 22.6% to MYR358.4 million. During the year, backed by the recovery of the smartphone market and its peripheral items. the electro-optical industry continued to dominate the ATE segment with its revenue contribution rate of approximately 49.7%, derived from abroad
the product portfolio of the Group in its test solutions for the proximity sensor, 3D magnetometer sensor, ambient light sensor, wafer-level VCSEL (Vertical-Cavity Surface-Emitting Laser) and other relevant applications under optics and photonics sensing solutions.
Owing to the Group's persistent effort in increasing its exposure to the automotive industry, revenue from this sector came in as the second-highest within the ATE segment with its contribution rate of 27.6%. In addition, the automotive sector chalked the highest growth rate at 39.9% among other industry sectors within the ATE segment. This strong demand was largely attributed to the Group's automotive test solutions covering a full range of assembly and test technologies for various aspects of the manufacturing process ranging from the component test, final test to packaging. During the year, the ATE segment was also benefitted from the semiconductor industry with its revenue contribution rate of 20.0%, where this sector captured a 26.8% growth as compared to 2020 from the continuous demand for the Group's test handling equipment which was underpinned by the growth of integrated chips and other related semiconductor contents from the acceleration of digital transformation by the pandemic over the past two years.
The ATE segment will continue to dominate the performance of the Group in the foreseeable future. With the global pandemic unleashing the unprecedented wave of technology developments coupled with the power and momentum of technology convergence, the Group is in a promising position to leverage on these significant opportunities in the ATE segment.
FAS segment
After recording a strong revenue growth in the year 2020, the FAS segment continued to witness a double-digit growth rate in its contribution to the Group's revenue, chalking 12.3% growth to achieve MYR155.3 million during the year. This was mainly driven by the robust demand for the Group's proprietary i-ARMS solutions, where a wider customer base adopted this application across different industry segments in different countries and regions. Notably, this segment gained its revenue momentum in the third and fourth quarters of the year, with revenue in the second half of the year exceeding its first half by approximately 19.5%. The main industry segment that led to FAS growth was the consumer and industrial product segment, contributing approximately 45.4% to overall FAS segment revenue. This was followed by the electro-optical segment and medical device segment with its respective revenue contribution rate of 30.4% and 19.3% where the application of the Group's i-ARMS was equally prevalent in
these segments.
The Group continues to witness huge potential and opportunities in its FAS segment given the fundamental shift towards factory automation and smart manufacturing across various industries, especially in a post-pandemic environment. With the current automation trend, the Group will continue to broaden and enrich the capability of its automated solutions to capture the growth from these developments in the years ahead.
Outlook
"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change."
The COVID-19 pandemic has dramatically and fundamentally altered the way we live and work. From social distancing, quarantine, closed borders, travel bans to the buzzword "home office" have never been mandated on such a large scale. The Group, however, navigated the "unsettling" effects of the pandemic and ended the financial year relatively "healed". Such accomplishment has demonstrated the Group's resilience in taking on the undeniable challenges that demand new ways of operating in a post-pandemic business environment and its versatility and speed in emerging strongly owing to the hard work and concerted efforts of the employees of the Group.
As the saying goes, every cloud has a silver lining. The pandemic has pushed many companies over the technology tipping point and with the surge in automation, digital adoption has taken a quantum leap across many companies and industries. As a result of these developments, the Group embraces 2022 with increased optimism on the back of a strong order book momentum largely driven by another high growth potential year surrounded by several catalysts brought about by AI, big data analytics, IoT, self-driving cars, Industry 4.0 and the deepening application of 5G. With the electro-optical segment currently dominating the Group's financial performance, this segment will continue its growth momentum in 2022, albeit modestly, given the Group's growing exposure to other industry segments. In respect of the automotive segment, the Group expects to witness the continuous affluence of this segment with e-mobility emerging at an accelerated pace. With electrification playing an important role in the transformation of the transportation industry and thereby presenting major opportunities in all vehicle segments, the global transition specifically towards electric vehicles ("EV") continues to get momentum and creates major disruption in the automotive industry and the related nexus. Significant efforts are witnessed through regulators worldwide defining more stringent emissions targets which include, among others, the European Union CO2 emissions regulations for cars and vans, China's New Energy Vehicles (NEV) mandate and Biden's administration is introducing a 50% EV target by 2030. Given this context, the Group anticipates a favorable prospect for its automotive test solutions from front-end to back-end which will continue to provide an impetus to the Group's overall performance.
In the belief that there is so much room and business opportunity for further expansion and that now is the best time to be planning for the future, the upcoming new manufacturing plant will pave the way for the Group to deepen its foothold in the medical device segment and bring the growth of its FAS segment to the next level. Key technologies that have been used widely in industrial manufacturing are seen to be filtering into the healthcare sector and with AI conquering the next frontier of the medical segment, the automation opportunity within this horizon is now abundant. With these technology developments presented, the Group is heartened to witness the growing demand for its automated assembly solutions from a broader customer base within the medical device segment on the back of an encouraging booking momentum. Together with the setup of Pentamaster MediQ Sdn. Bhd. for its involvement in the manufacturing of single-use medical devices, the Group is fully prepared for the huge market opportunities in the medical industry. Having continuously witnessed revenue growth from the FAS segment in the past two years, the Group continues to benefit from the increased focus of various industries on industrial automation which is now rapidly necessitated by the effects of the pandemic. As the surge in automation continues in the coming years with the use of AI and IoT in the manufacturing processes, the huge potential and opportunities in the FAS segment will be prevalent. Girded by a year of relatively stable financial performance in 2021, the Group will continue to focus fundamentally on its operational capabilities and remain proactive in the development of new cutting-edge technologies and solutions. With a wide variety of challenges and opportunities confronting 2022, the Group, having the pulse on the global trends and requirements, is forward-looking in building another year of solid business growth. As it is, the virus is here to stay for a period of time and will be a reality in our daily lives. The Group's priority is to ensure the safety of its employees with its strict adherence to the necessary safety measures and operating procedures.
About Pentamaster International Limited
PIL (HKEX stock code: 1665) is a leading global supplier in providing automation technology and solutions to multinational manufacturers mainly in the semiconductor, automotive, electrical & electronics, medical devices and consumer industrial products sectors spanning APAC, North America and Europe. The Group's broad range of integrated automation products and solutions entails innovating, designing, manufacturing and installing automated equipment and/or automated manufacturing solutions.
To learn more about PIL, please visit us at www.pentamaster.com.my.
For media enquiries, please contact:
Email: [email protected]
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comPentamaster International Limited ("PIL" or "the Group") which is listed under the Main Board of The Stock Exchange of Hong Kong Limited announced its financial results for the year ended 31 December 2021 today.
Faith Connexion to launch its blockchain project $FTRB
Following a successful soft launch event at Art Basel Miami in December 2021, Faith Tribe is honored to launch the Initial Exchange Offering (IEO) and Initial Dex Offering (IDO) of the $FTRB token on February 24th, built-in collaboration with Brock Pierce, Define Labs, and Mario Nawful at NFT Technologies. The dual-chain token will be launched […] HKTDC welcomes 2022/23 Budget
HKTDC Chairman Dr Peter K N Lam said: "The pandemic has brought unprecedented challenges to SMEs in the past two years. The measures announced in this year's Budget, including enhancements to various export credit and SME financing schemes, can alleviate pressures on cash flow and operations. In addition, the various measures to support the IP (intellectual property) and technology sectors can also help SMEs tap into new markets and upgrade and transform their business.
"We are also encouraged that the HKSAR Government has allocated additional funding to support Hong Kong businesses pursuing development in the mainland. Through our network of mainland offices, we will work with partners including established Hong Kong business, professional services, and young entrepreneur associations in these cities, to organise training, exchange events, business missions and promotion campaigns.
"We believe this can help Hong Kong businesses in the mainland to expand and capture opportunities arising from the 'dual circulation' strategy and the Guangdong-Hong Kong-Macao Greater Bay Area, so as to better integrate into the nation's development." Dr Lam said.
In addition to the mainland market, the HKTDC will continue helping SMEs capture business opportunities in mature and emerging markets. Dr Lam said: "We will continue to help Hong Kong companies develop ASEAN (Association of Southeast Asian Nations) and mature markets with enhancements to our flagship overseas promotions such as 'Think Business, Think Hong Kong', as well as strengthen our online and offline platforms, business matching services, SME support schemes and other training activities, to help Hong Kong businesses connect with global enterprises and target relevant opportunities effectively. We are also glad to learn that the Government will actively consider attracting more conventions and exhibition events to be organised in Hong Kong when the pandemic subsides."
"Our team at the HTKDC will do all we can to create new opportunities for our industries, enabling them to diversify and find new impetus for recovery and growth amid the pandemic." Dr Lam added.
Media enquiries:
HKTDC's Communications & Public Affairs Department
Susanna Sin, Tel: +852 2584 4294, Email: [email protected]
About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe Hong Kong Trade Development Council (HKTDC) welcomes the Hong Kong Special Administrative Region (HKSAR) 2022/23 Budget, including the additional funding to the Council for a support scheme for Hong Kong businesses in Mainland China, to help them capture opportunities under the National 14th Five-year Plan.
UMP Healthcare Offers Free Telemedicine Service to COVID-19 Patients
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As the number of new COVID-19 cases rapidly increases, patients with confirmed infections are stuck at home waiting for hospital admission or in isolation, and many elderly people, adults, and children urgently need medical consultations. UMP will provide free telemedicine services for relevant patients in response to current needs and the Hospital Authority's call to support anti-epidemic efforts. Patients who have been confirmed infections, preliminary infections or have self-tested positive using rapid antigen tests can register online for the service. A video consultation with a doctor will be arranged during designated service hours and they will be provided with any required medication if necessary. The consultation could help to alleviate patients' concern and enable them to receive treatment without leaving their home. Donations from the Charity Foundation will fully subsidise the costs of the consultation services, medicine and support for all related matters.
In addition, given the rapid increase of vaccination demand, 11 of the Group's medical centres are gearing up to support the Sinovac vaccination service. UMP will also set up an additional vaccination point at the UMP Wellness & Metabolic Centre in Central to provide extra services for seniors and children, who are considered priority groups for protection. There will be specialist doctors and registered nurses in attendance at the centre to evaluate those who wish to be vaccinated and confirm their recommendations. They will also answer questions and follow up with those who have received the vaccination, reducing anxiety and worries of those in need.
Dr. Sun Yiu Kwong, Chairman and CEO of UMP, and Director of UMP Charity Foundation, said, "UMP hopes to fulfil its responsibilities as a corporate and professional medical institution to help the public amid the severe epidemic in Hong Kong. Our medical team is also ready to do its best to reduce the pressure on the public medical system, provide support to those in need and have a positive impact on society. Meanwhile, we express our condolences to those affected by the epidemic and hope that our actions can provide immediate warmth."
Telemedicine service hours are Monday to Friday, 9am to 6pm, with limited service available in the evenings and Saturdays. To register, please visit https://bit.ly/3H2IzY8.
Sinovac vaccination services are provided at the following locations. Service hours vary by individual centre. For enquiries, please call the respective medical centre.
UMP Medical Centre (Central)
Address: 14/F, Wing On House, 71 Des Voeux Road Central
Phone: (852) 2840 1636
UMP Wellness & Metabolic Centre (for seniors and children)
Address: Room 1603, 16/F, Wing On House, 71 Des Voeux Road Central
Phone: (852) 2507 2656
UMP Medical Centre (Causeway Bay)
Address: Room 1901C, 19/F, East Point Centre, 555 Hennessy Road, Causeway Bay
Phone: (852) 2811 8218
UMP Medical Centre (Wanchai)
Address: Room 1109, Office Tower, Convention Plaza, 1 Harbour Road, Wan Chai
Phone: (852) 2824 0018
UMP Medical Centre (Jordan)
Address: Room 03-04, 15/F, 238 Nathan Road, Jordan
Phone: (852) 3549 6833
UMP Medical Centre (Tsim Sha Tsui)
Address: Room 7, 10/F, Wing On Plaza, 62 Mody Road, Tsim Sha Tsui East
Phone: (852) 2369 9536
UMP Medical Centre (Olympic)
Address: Unit 2, 1/F, Skyway House,3 Sham Mong Road, Taikoktsui
Phone: (852) 2740 4319
UMP Medical Centre (Kwun Tong)
Address: G/F, 183 Hip Wo Street, Kwun Tong
Phone: (852) 2855 8098
UMP Medical Centre (Kowloon Bay)
Address: Shop F, G/F, Tak Bo Garden, 3 Ngau Tau Kok Road, Kowloon Bay
Phone: (852) 2751 9339
UMP Medical Centre (Tsuen Wan)
Address: Shop 1070, Level 1, D-PARK, 398 Castle Peak Road, Tsuen Wan
Phone: (852) 2940 1338
UMP Medical Centre (Shatin)
Address: Shop 9, G/F, Ming Yiu Lau, Jat Min Chuen, Shatin
Phone: (852) 2634 1812
UMP Medical Centre (Park Island)
Address: G/F, No.21 Ma Wan Main Street Village East, Ma Wan
Phone: (852) 2986 3880
About UMP Healthcare
www.ump.com.hk
Founded in 1990, UMP Healthcare Holdings Limited is one of the largest and longest listed medical groups in Hong Kong, and is listed on the main board of the Hong Kong Stock Exchange (stock code: 722.HK). The company has been providing trusted and affordable medical services for 32 years, giving people peace of mind to focus on living their lives to the fullest without worrying about their health. The company is committed to helping people improve their health and winning the fight against the epidemic together.
In addition to healthcare services that cater to diverse individual needs, UMP works closely with corporates and insurance companies to customize and administer corporate healthcare benefits plans for their members. The current UMP network boasts more than 1100 self-owned and affiliated medical service points across Hong Kong and Macau, providing services including family medicine, specialist consultation, dental care, diagnostic imaging and laboratory, preventive medicine and health assessment, day surgery and endoscopy.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comUMP Healthcare Holdings Limited ("UMP" or the "Group"; SEHK: 722) has announced that its affiliate, UMP Charity Foundation Limited (the "Charity Foundation"), will donate first batch of donation of HK$500,000 to support patients diagnosed with COVID-19 through the provision of free medical video consultation
Champion REIT Announces 2021 Annual Results
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Summary of financial results
FY 2021 FY 2020 Change
Total Rental Income (HK$ mil) 2,495 2,633 -5.2%
Net Property Income (HK$ mil) 2,197 2,347 -6.4%
Distributable Income (HK$ mil) 1,503 1,554 -3.3%
Distribution per unit (HK$) 0.2279 0.2496 -8.7%
31 Dec 2021 31 Dec 2020 Change
Gross Value of Portfolio (HK$ mil) 65,296 67,318 -3.0%
Net Asset Value per unit (HK$) 8.25 8.61 -4.2%
Gearing Ratio 22.9% 23.0% -0.1pp
Overview
The persistent COVID-19 pandemic continued to pose challenges to the operating environment for our business in 2021. Amid the gloomy market conditions, Champion REIT recorded a drop in distributable income by 3.3% to HK$1,503 million and distribution per unit ("DPU") declined 8.7% to HK$0.2279.
Three Garden Road
Three Garden Road recorded a shrank of the rental income by 3.8% to HK$1,460 million in 2021 (2020: HK$1,518 million). Average passing rent decreased to HK$108.3 per sq. ft. (based on lettable area) as at 31 December 2021. Demand from new and existing tenants gradually materialised in the second half, boosting the occupancy of the property to 89.0% as at 31 December 2021.
Langham Place Office Tower
The impact of negative rental reversion drove down rental income of Langham Place Office Tower to HK$365 million in 2021 (2020: HK$378 million), and passing rents of the property declined to HK$47.1 per sq. ft. (based on gross floor area) as at 31 December 2021. Occupancy of the property increased to 96.3% as at 31 December 2021, given the rebound in leasing momentum for beauty and healthcare tenants.
Langham Place Mall
Amid the challenging environment for retail leasing, the total rental income of the property went down 9.1% to HK$670 million (2020: HK$738 million). The average passing rents dropped to HK$165.9 per sq. ft. (based on lettable area) as at 31 December 2021. The mall remained fully occupied as at 31 December 2021, attributed by the spearhead of the Langham Beauty concept at our premises which upgraded the tenant mix and strengthened the strategic positioning of the mall.
Distribution
Distributable income of the Trust dropped 3.3% to HK$1,503 million (2020: HK$1,554 million) and DPU dropped 8.7% to HK$0.2279 (2020: HK$0.2496). Based on the closing unit price of HK$3.99 recorded on 31 December 2021, the total DPU represented a distribution yield of 5.7%.
Asset Value
The appraised value of the Trust's property portfolio was HK$65.3 billion as at 31 December 2021, declining 3.0% from HK$67.3 billion as at 31 December 2020.
Sustainability
We forged ahead to embrace change with resilience and agility to manage business continuity and put people at the heart of what we do. In addition to the BEAM Plus Existing Building Platinum certification, Langham Place Mall was awarded the international EDGE green building certification, making it the first shopping mall in Hong Kong to receive the recognition. The Trust also secured its first sustainability-linked loan and sustainability-linked swap, befitting our sustainability objectives.
Outlook
Amid the ongoing COVID-19 pandemic, the outlook of Hong Kong office and retail property market remains uncertain and difficult. The tightening of social distancing measures would continue to affect the business of our tenants. Relaxation of cross-border controls and quarantine requirements locally would be crucial for economic recovery.
Looking forward, we will continue to adopt a flexible leasing strategy to retain tenants and maintain high occupancy rates. Despite the unfavourable conditions, we strive to inject impetus to growth through asset enhancement and trade mix rebranding initiatives. We will take a prudent approach in balance sheet management in a rising rate environment. Equipped with a sufficient reserve, the Trust stands ready to pursue acquisition opportunities globally with a goal to generate long-term returns.
About Champion REIT (stock code: 2778)
Champion Real Estate Investment Trust is a trust formed to own and invest in income producing office and retail properties. The Trust focuses on Grade A commercial properties in prime locations. It currently offers investors direct exposure to nearly 3 million sq. ft. of prime office and retail floor area. These include two Hong Kong landmark properties, Three Garden Road and Langham Place, as well as a joint venture stake in 66 Shoe Lane in Central London. Since 2015, the Trust has been included in the Constituent of Hang Seng Corporate Sustainability Benchmark Index of Hang Seng Indexes.
Website: https://www.championreit.com/
For press enquiries:
Strategic Financial Relations Limited
Vicky Lee Tel: 2864 4834 Email: [email protected]
Christina Cheuk Tel: 2114 4979 Email: [email protected]
Yvonne Lee Tel: 2864 4847 Email: [email protected]
Website: https://www.sprg.com.hk/
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comChampion Real Estate Investment Trust (stock code: 2778), the owner of Three Garden Road and Langham Place, announces its financial results for year ended 31 December 2021.
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