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RHT Rajan Menon Foundation presents Gentle Bones Charity Concert on 22 July 2022

SINGAPORE, May 29, 2022 - (ACN Newswire) - Local singer-songwriter Gentle Bones will return to the stage for a good cause in collaboration with RHT Rajan Menon Foundation...

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InvesTech Holdings Announces 2021 Annual Results

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HONG KONG, Apr 1, 2022 - (ACN Newswire) - InvesTech Holdings Limited ("InvesTech Holdings", together with its subsidiaries, the "Group"; stock code: 1087.HK), a leading integrated smart IT solutions provider in China, announces its audited consolidated results for the year ended 31 December 2021 (the "Year").

During the Year, the Group continued to focus on its core business of the IT infrastructure system integration and the sales of smart office software solutions, with the majority of its revenue generating from the market in the People's Republic of China (the "PRC" or "China"). With operations gradually resuming normal in particular in the first half of the Year while capturing the surging demand in the market, the Group grew its sales considerably. During the Year, the Group's total revenue remained steady with a slight increase of approximately 3.3% to approximately RMB484.6 million (2020: approximately RMB469.1 million). Yet, certain deliveries were deferred due to late deliveries of goods by suppliers and urban lockdowns, which in turn led to a delay in the recognition of revenue, in addition, a sizable government contract was concluded during the Year, resulting in a 340.3% increase in total contracted sales backlog to approximately RMB802.9 million as compared to that of 2020. The Group's gross profit increased by approximately 11.3% to approximately RMB57.1 million (2020: approximately RMB51.3 million), broadly in line with revenue growth. Net loss for the year substantially narrowed to RMB21.0 million from the loss of RMB86.7 million in last year, mainly attributable to the absence of the recognition of an impairment of loan receivables and the impairment of goodwill in relation to the network system integration cash-generating unit for the Year.

Mr. Ringo Chan, Chairman and Chief Executive Officer of InvesTech Holdings, said, "Thanks to the favourable national policies, investment in IT-related industries began to soar. Meanwhile, the market for smart office solutions has seen explosive growth as companies have rushed to adapt to restrictions imposed to control the COVID-19 (the "pandemic"). During the Year, leveraging robust demand for IT infrastructure system integration and smart office software solution services in the Chinese market, the Group spared no effort to enhance its business development and achieved business growth."

Business Review
IT Infrastructure System Integration Business
The Group continued to expedite the development of its traditional IT infrastructure system integration business, which remained a major source of revenue during the Year. Leveraging its solid foundations in the industry and strong customer relationships, the Group's revenue from the IT infrastructure system integration segment increased by approximately 0.4% to approximately RMB448.6 million for the Year. In addition to strengthening its core competitiveness in the provision of a wide range of products and services through the traditional IT infrastructure system integration business, the Group also joined forces with various tech giants, with the aim of acquiring new clients through strategic alliances to deliver cutting-edge IT infrastructure solutions.

Smart Office Software Solutions Business
As office closures and work-from-home arrangements were adopted across various industries during the Year, demand surged for the Group's smart office software solutions and property technology ("PropTech") solutions, which operate with Internet of Things (IoT) technology. The number of orders for, and sales of, smart office software solutions increased significantly, delivering revenue growth of approximately 60.7% to approximately RMB36.0 million for the Year. During the Year, the Group also allocated more resources on its research and development team and centre located in Xi'an, the PRC. To further capture market opportunities, the Group will expand the scope of its services and continue to upgrade Virsical, its flagship smart office software solutions product.

Contract Awarded to the Group - Hong Kong Smart Library System Project
In September 2021, a government contract for the provision of a smart library system for the Hong Kong government's Leisure and Cultural Services Department with contract sum of approximately HK$693.1 million was awarded to an unincorporated joint venture, which was formed by the Group in proportion to the contribution of 70%. The project involves the design, supply, delivery, installation, commissioning, implementation, system support and maintenance of core library systems, alongside the provision of other services. The estimated project duration is from September 2021 to March 2026, with a warranty and maintenance period running until March 2036. The project is set to broaden the Group's revenue stream and expand its business in Hong Kong in coming years.

Outlook
Looking ahead, the Group will maintain the stable development of its IT infrastructure system integration business, with a focus on expediting the development of its smart office software business. The Group will also foster relationships and alliances with additional large enterprises to reach new customers while continuing its investment in the research and development centre in Xi'an, the PRC, to enhance its capabilities. In Hong Kong, the Group will continue to bid for and acquire public and private projects, and look forward to increased cooperation with government departments in the future.

In recent years, a number of technology giants have allocated immense resources to metaverse investments. Also, the pandemic has prompted the development of enterprise metaverse solutions, which deliver advantages such as increased access to talent, enhanced productivity and reduced operating costs. Taking the latest market development into consideration, the Group believes that it has entered the inflection point to the development of the up-and-coming global trend towards virtual experience, powering the enterprise metaverse with its IT infrastructure and software solutions. Currently, the Group offers a "hybrid" smart office solution allowing users to work partly in the physical workplace and partly remotely, permitting enterprises to better tap their true potential, ensuring smooth business operations and management, and fostering their overall productivity and competitiveness. Leveraging the strong capabilities of the Group's internal resources, as well as its formidable experience in IT solutions, the Group aims to further modify and enhance its software products through built-in compatibility with the latest technology, and at the same time collaborate with tech industry leaders with the ultimate goal of providing highly realistic, virtual smart-office solutions that can be used in financial institutions, new economy companies and multinational enterprises.

Mr. Chan concluded, "Riding on the favourable backdrop of the industry, coupled with our ample experience in the market, we are cautiously optimistic about the prospects of our principal businesses. We have always actively sought opportunities to build a new business ecosystem and to become a leading integrated smart IT solutions provider. Looking ahead, we will actively identify suitable acquisition and investment targets in the markets to broaden revenue base and diversify business, while progressing enterprise metaverse development and achieving breakthroughs in the industry."

About InvesTech Holdings Limited
InvesTech Holdings Limited (Stock code: 1087.HK) was listed on the main board of Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in IT industry, the Group is principally engaged in IT infrastructure system integration and smart office software solutions businesses. The Group has strong presence in China, with more than 10 offices nationwide with a research and development centre in Xi'an.

Website: http://www.investech-holdings.com/




Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comInvesTech Holdings Limited ("InvesTech Holdings", together with its subsidiaries, the "Group"; stock code: 1087.HK), a leading integrated smart IT solutions provider in China, announces its audited consolidated results for the year ended 31 December 2021 (the "Year").

The Place Holdings and Stellar Lifestyle to Collaborate on Various Digital Initiatives to Shape the Future of Digital Media and Tap New Opportunities in...

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Singapore, Mar 31, 2022 - (ACN Newswire) - SGX mainboard-listed company, The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), is pleased to announce that it has entered into a non-binding Memorandum of Understanding ("MOU") with Stellar Lifestyle Pte. Ltd. ("Stellar Lifestyle"), a business arm of SMRT Corporation Ltd., to jointly collaborate to shape the future of digital media and tap new opportunities in the digital economy.

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From left to right: Mr. Fan Xianyong, CEO of The Place Holdings, Mr Ji Zenghe, Executive Chairman of the Place Holdings, Mr. Seah Moon Ming, Chairman of SMRT Corporation Ltd, Mr. Tony Heng, President of Stellar Lifestyle

Creating vibrant transit destinations through continuous innovation and a desire to make our everyday touchpoints better, Stellar Lifestyle is the largest managing agent of retail and advertising spaces in Singapore's rail network.

Notably, both The Place Holdings and Stellar Lifestyle aim to build Singapore's first Sky Screen, a suspended video screen that will be an enhanced version of Beijing's iconic attraction, ("Shimao Tianjie Sky Screen").

As a high-tech visual extravaganza, the Sky Screen is envisaged as a new attraction in Singapore that will be integrated with smart digital technology system and immersive media, boosting new business vibrancy and creating new possibilities in digital media solutions.

Shimao Tianjie Sky Screen is located at No. 9 Guanghua Road, Chaoyang District, Beijing, the heart of Beijing's Central Business District (CBD) and it is one of the largest sky screens in Asia with 7,500 sqm of LED lights across a space of 250m long and 30m wide, offering a spectacular light show experience with high-resolution imagery and state-of-the-art, immersive sound systems as well as technological features that enable interactivity.

Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen has established a strong brand and continues to be a popular venue and platform for various events, advertisements and media.

The Group recently announced a separate MOU to undertake two acquisitions that includes the licensing of the Intellectual Property Rights for the use in the operation and management of Shimao Tianjie Sky Screen and the acquisition of certain assets and businesses relating to Shimao Tianjie Sky Screen. More information on Shimao Tianjie Sky Screen can be accessed at www.theplacebeijing.com.

Mr. Seah Moon Ming, Chairman of SMRT Corporation Ltd, said, "The Place Holdings has an impressive business track record of more than 30 years in developing market-leading media, tourism, and real estate businesses.

As a financial, aviation and technology hub, Singapore is one of the most connected countries in the world. It is a good springboard for The Place Holdings and Stellar Lifestyle to showcase the convergence of 5G, new technologies and media concepts to bring greater value to businesses and consumers.

This MOU signifies our desire to jointly develop experiential solutions through leading-edge technology for smart commuter-station connections. We are confident that this would pave the way for greater business success together."

Mr. Ji Zenghe, Executive Chairman of The Place Holdings, said, "Innovative visual experiences and new digital media technology continue to play a pivotal role in boosting mindshare among consumers as our physical and digital worlds come closer together.

As Singapore's largest managing agent of retail and advertising spaces in Singapore's rail network, Stellar Lifestyle has created a thriving ecosystem that includes F&B, shopping and digital solutions.

Through this strategic collaboration, we aim to combine our unique complementary strengths in enhancing smart commuting and creating innovative digital media solutions within this ecosystem.

This is an important milestone for the Group as we deepen our business roots in Singapore and create new value propositions with our capabilities in immersive media and digital technologies."

Mr. Ji added, "With the Sky Screen's visual extravaganza and technology features, we aim to contribute to the vibrancy and diversity of Singapore's retail and tourism landscape by creating unique and engaging experiences.

Together with Stellar Lifestyle's extensive touchpoints across Singapore, there are significant opportunities to continuously improve our service offerings and experience to targeted audiences and to redefine the future of digital media solutions."

This document is to be read in conjunction with The Place Holdings' exchange filings on 31 March 2022, which can be downloaded via www.sgx.com.

About The Place Holdings Limited
(SGX Code: E27)

Listed on the Mainboard of the Singapore Exchange, The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), focuses on integrating traditional businesses with omni-channel strategies and digital solutions (such as "new-retail" solutions, last mile logistics, immersive virtual reality technology, enterprise intelligent connectivity) to harness new growth opportunities in the digital economy.

The Group has established a strong business platform to create new value propositions within its 3 core business pillars:

1. Property development and property management activities
2. Cultural tourism and related "new retail" businesses
3. Integrated media-related businesses with management & operation rights

The Group is backed by the key management team of The Place Investment Group, a multi-billion PRC conglomerate that has a strong track record for its extensive business portfolio in tourism, media, property management, biomedical technology investments and international trade.

Embolden with a new business approach and forward-looking corporate culture, The Place Holdings is expanding our business presence of profitable businesses with high growth potential in Singapore and China through organic and inorganic initiatives.

For additional information, please visit www.theplaceholdings.com

About Stellar Lifestyle

Transit Retail & Advertising Solutions

Stellar Lifestyle, a business arm of SMRT Corporation Limited, has expertise in property and retail management, media and digital advertising solutions. We create vibrant transit destinations and lifestyle experiences to make our everyday touchpoints better. Our growing portfolio includes mall management and outdoor media & digital engagement platforms. We are also the largest managing agent of retail and advertising spaces in Singapore's rail network.

Issued on behalf of The Place Holdings Limited and Stellar Lifestyle by 8PR Asia Pte Ltd.

For further information, please contact the following:

Mr. Zhang Wei
Chief Strategy Officer
The Place Holdings Limited
Tel: (65) 6781 8156
Fax: (65) 6781 8159
Email: zhangwei@theplaceholdings.com

SMRT Corporate Communications
Tel: (65) 9822 0902
Email: media@smrt.com.sg

Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe Place Holdings Limited, is pleased to announce that it has entered into a non-binding Memorandum of Understanding with Stellar Lifestyle Pte. Ltd., a business arm of SMRT Corporation Ltd., to jointly collaborate to shape the future of digital media and tap new opportunities in the digital economy.

Report: Digital AUM Surged to $48.7 Billion in March, Average Weekly Flows Turn Negative

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionThe total aggregate digital assets under management (AUM) surged to $48.7 billion in March, up from the $43.9 billion that was recorded in January, the latest data from Crypto Compare has shown. In contrast, the average daily trading volumes fell by 29.6% to $259 million during this period. BTC and ETH Products Lag Behind According […]

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20 Cryptocurrency Acronyms and Terminologies You Must Know in 2022

20-Cryptocurrency-Acronyms-and-Terminologies-You-Must-Know-in-2022!

One of the biggest buzzwords in the technology space at the moment has to be Cryptocurrency. So big, the entire cryptocurrency space is currently worth $1.89 Trillion as of the time of writing the article. If the cryptocurrency market was a stock market operated by a country, it would be the 18th largest stock exchange by market cap in the world. But very few know how cryptocurrency works or what it’s used for. According to a recent survey done by Cardify, only 16.9% of investors who have bought crypto “fully understand” the value and potential of cryptocurrency, while 33.5% of buyers have either zero knowledge about the space or would call their level of understanding “emerging.”  Even fewer know about the larger ecosystem that exists beyond the cryptocurrency space which includes Blockchain, Decentralised Finance, Web3, Smart Contract and so much more. In this article, we will break down all the terminologies and jargon around the cryptocurrency space into much simpler and more digestible bits using related anecdotes. Let’s go!   Crypto and Blockchain Predictions for 2022 1. Satoshi Nakamoto What better way to start than with the man who is presumed to be the brains behind the creation of Bitcoin, the first cryptocurrency. Many folks in the crypto space believe he’s a pseudonym that represents the original creator(s) of Bitcoin.  Whatever and wherever he is, dead or alive, the name has made history as being the pioneer of the most disruptive technology innovation at the moment. Given the price of BTC today, Satoshi would be a billionaire. In addition, the poor (rich) lad also exists as a token called Satoshi and currently trades on the Coinmarketcap with the price set at $0.000412.  2. Blockchain Blockchain is a combination of computer networks that transparently stores all the information about a crypto transaction. Visualize several series of blocks that contain the information in a space connected by endless chains.  Blockchain is the technology that powers all cryptocurrency transactions, for without it there won’t be any cryptocurrencies in existence. Its mission is to ‘wrestle power’ from centralized and opaque organizations like banks, government, lawyers, Insurance companies, etc and put it in the safe and transparent hands of ordinary folks like you and me, hence decentralizing the whole process of money exchange (a classic tale of Robinhood). 3. Bitcoin As you probably have noticed, decentralization is ironically the central theme for cryptocurrency, and no other token, coin, or terminology represents this theme like Bitcoin.  Bitcoin is a virtual or digital token that can only be used on the internet. Unlike the physical currencies e.g the US dollar and UK Pound Sterling which are controlled by the government, Bitcoin is controlled by anyone. And like the traditional currencies which are stored in physical wallets, Bitcoin can also be stored in wallets called digital wallets (We will talk more about this). Bitcoin is the first and most valuable cryptocurrency with the price currently at $38,230.  4. Ethereum Ethereum is the second most popular and valuable cryptocurrency but it has a more unique usage than Bitcoin.  The former serves as a medium of exchange and technology within the blockchain where other decentralized applications like Defi, Smart Contracts, NFT can be built on while the latter is only used as a medium of exchange.  Think of Ethereum as the Gold of cryptocurrency and Bitcoin as the dollar.  Ethereum can also be referred to as an alternative coin to Bitcoin. 5. Blockchain wallet The blockchain wallet acts the same way as your physical wallet which is used to store cash and cards except it is used online to store digital currencies like Bitcoin.  It is very secure and can only be accessed by a key unique only to the wallet online (unlike the physical wallet that can be ‘accessed’ by boys under the bridge). 6. Address An Address is a string of characters in a wallet that can send and receive cryptocurrency. It is synonymous with a real-life address or an email. Just like a physical address where no two houses can share the same numbers, each address on the blockchain is unique and marks the location of a wallet. 7. Altcoins Short form for alternative coins, Altcoins refer to any type of cryptocurrencies other than Bitcoin. Altcoins were created to serve a much better purpose to cryptocurrency users than Bitcoin.  Ethereum was the first-ever altcoin created. Other examples of altcoin include Solana, Bitcoin Cash (which is the 3rd most valuable cryptocurrency), XRP, Cardano, etc. 8. Shitcoins Shitcoins are altcoins that are fraudulently created and serve no intrinsic value to users. They are truly shitty by every definition of the word. Examples of shitcoins include Dogecoin, Shiba Inu, Safe Moon, Magic Internet Money, etc. 9. Cryptocurrency Exchanges Crypto Exchanges are platforms where digital currency owners can buy or sell cryptocurrency … Continued

The post 20 Cryptocurrency Acronyms and Terminologies You Must Know in 2022 appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Decentraland Hosts First-ever Brand-Studded Metaverse Fashion Week

Decentraland Hosts First-ever Brand-Studded Metaverse Fashion WeekFirst-ever Metaverse Fashion Week will be hosted on Decentraland. MVFW will happen on March 24 to 27. Big brands like ...

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Decentraland Hosts First-ever Brand-Studded Metaverse Fashion Week

Decentraland Hosts First-ever Brand-Studded Metaverse Fashion WeekFirst-ever Metaverse Fashion Week will be hosted on Decentraland. MVFW will happen on March 24 to 27. Big brands like ...

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Decentraland Hosts First-ever Brand-Studded Metaverse Fashion Week

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Star Atlas: Next Generation Gaming Metaverse

Star Atlas is a next-generation metaverse project built on the Solana network and is one of the most ambitious projects in the gaming and metaverse scene that I have ever seen. Star Atlas is more than just a blockchain gaming metaverse; it is an entirely new, fully immersive virtual solar system with multi-dimensional play to earn […]

The post Star Atlas: Next Generation Gaming Metaverse appeared first on Coin Bureau.

Star Atlas: Next Generation Gaming Metaverse

Star Atlas is a next-generation metaverse project built on the Solana network and is one of the most ambitious projects in the gaming and metaverse scene that I have ever seen. Star Atlas is more than just a blockchain gaming metaverse; it is an entirely new, fully immersive virtual solar system with multi-dimensional play to earn […]

The post Star Atlas: Next Generation Gaming Metaverse appeared first on Coin Bureau.

Star Atlas: Next Generation Gaming Metaverse

Star Atlas is a next-generation metaverse project built on the Solana network and is one of the most ambitious projects in the gaming and metaverse scene that I have ever seen. Star Atlas is more than just a blockchain gaming metaverse; it is an entirely new, fully immersive virtual solar system with multi-dimensional play to earn […]

The post Star Atlas: Next Generation Gaming Metaverse appeared first on Coin Bureau.

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