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The Wuling COVID Testing Cars will be delivered at the end of May

HONG KONG, May 23, 2022 - (ACN Newswire) - On May 13, Guo Yanhong, the supervisor of the Medical Administration and Hospital Authority of the National Health Commission,...

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Review: Bots abound in NFT castle-building game League of Kingdoms

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Coin Bureau Conference 2022 Recap

There are some key monumental dates of epic historical significance in the crypto industry. These events will go down in history as pivotal moments...

Coin Bureau Conference 2022 Recap

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Janco 2021 Audited Annual Results: Profit Attributable to Shareholders Surges by 54.5% to HK$17.3 million

HONG KONG, Apr 25, 2022 - (ACN Newswire) - Janco Holdings Limited ("Janco" or the "Group"; Stock Code: 8035), a one-stop freight forwarding and...

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Microsoft, Databricks and 10+ leading giants unleashed their Data Analytics solutions at BYTES 2022

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Singapore, Apr 22, 2022 - (ACN Newswire) - Amidst skyscraping digitization drives in Southeast Asia, its digital economy is projected to hit $1 trillion by 2030. With colossal volumes of data being generated every second, the region is breeding a multi-billion-dollar Big Data Analytics industry.

Taking cue from the above developments, all the while trying to support the Big Data Analytics organizations in the region, Tradepass hosted BYTES for the first time in ASEAN, virtually on 12 - 13 April 2022.

"While explaining the massive growth in data, Karthikeyan Rajasekharan (Senior Director, Data and AI Solution, Sales - APAC, Microsoft APAC) mentioned, "As we went through that journey, we recognized that we needed a modern data estate and we have moved from our value licensing days which had the smallest transaction between $400+ dollars to a place in the cloud where the smallest transaction is anywhere between $3 to $4, which means there has been sheer amount of growth in the data and now we need to think about how we have to modernize ourselves."

The 2-day virtual summit hosted 1000+ Big Data Analytics professionals from the leading public and private organizations across ASEAN which included the CDOs, CXOs, CIOs, CTOs, CMOs, Heads of IT, Data Scientists and many other senior profiles.

Chris D'Agostino, Global Field CTO, Databricks, spoke in great detail on transforming organizations by enabling data and AI at scale. During his presentation, he expressed, "When we did a survey in partnership with MIT Technology Review, we studied 351 companies around the globe, a third of which were here in APJ, and the number one regret that most data leaders had was that they didn't standardize using open standards. Instead, they chose proprietary capabilities and felt locked into a particular vendor or solution."

Microsoft, Databricks, Dataiku, Cloudera, Tech Data, BMC, Aerospike, H2O.ai, Vertica, Domo, Denodo, Snowflake and Fivetran were literally the face of the summit as they had their own exclusive virtual exhibition booth to showcase their cutting-edge solutions. Some of them even gave insightful sessions during the conference on the most pressing topics which included 'Data Stewardship', 'How To Formulate and Implement a Winning AI Strategy', 'Hybrid Data Cloud', "From AI Experimentation to AI Monetization', 'Accelerating Data-Driven Outcomes with DataOps & Cloud' and many more.

While enlightening the delegates on Hybrid Data Cloud, Carlos Zorzin (Senior Partner Sales Engineer, Cloudera) commented, "89% of IT-decision makers believe a hybrid cloud environment is the optimal choice to easily and securely store and move data as well as manage workloads. In order to achieve that, companies need a data platform that lets them easily move data and workloads from private clouds, to public clouds, and even to the edge - with scale. That's Hybrid Data Cloud."

When asked about the response from the delegates, Sudhir Jena, the organizer and CEO of Tradepass said, "Bytes 2022 - ASEAN delighted the 1000+ delegates with the top-line of solution providers and experts from the public & private domain and the delegates had very insightful interactions including Q&As with the experts. The delegates also got a chance to explore the latest solutions from the stellar organizations at the summit and collaborate with them to leapfrog their competitors."

About Tradepass

Providing access to the global emerging markets, Tradepass brings together people, products and solutions to power events for unparalleled business and networking opportunities. Being the most accredited event company, it helps organizations: enter new markets, grow sales pipeline, close prospects, raise capital and identify the right solution-providers.

As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.

For more information about the summit, log on to: https://asean.bytessummit.com/

Media contact:
Shrinkhal Sharad
PR & Communication Executive
shrinkhals@tradepassglobal.com
+ (91) 80 6166 4401
Tradepass

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAmidst skyscraping digitization drives in Southeast Asia, its digital economy is projected to hit $1 trillion by 2030. With colossal volumes of data being generated every second, the region is breeding a multi-billion-dollar Big Data Analytics industry.

Kitchen Culture’s business transformation at risk – funds raised not accounted for

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SINGAPORE, Apr 21, 2022 - (ACN Newswire) - As the single largest shareholder of Kitchen Culture Holdings Ltd. ("Kitchen Culture") with a 21.19% stake, OOWAY Group Ltd. ("OOWAY Group" or the "Group") shares the frustration of many shareholders who raised concerns over matters of internal controls and governance ahead of Kitchen Culture's recent Annual General Meeting held on 18 March 2022.

We are deeply disappointed by the findings of Baker Tilly Consulting (Singapore) Pte. Ltd.'s ("BTC") latest report which confirm our worst fears regarding the shocking matters of concern which were first revealed in June 2021 after Kitchen Culture's Audit Committee engaged BTC to review its internal controls.

In August 2020, Kitchen Culture entered into a sale and purchase agreement and a shareholder's agreement with OOWAY Group to acquire a 30% equity stake in OOWAY Technology Pte. Ltd. ("OOWAY Technology") at a purchase consideration of S$23.92 million (the "Purchase Consideration") to be satisfied by way of the allotment and issue of 90,000,000 new ordinary shares in the capital of Kitchen Culture at an issue price of S$0.2658 per ordinary share ("Acquisition").

Mr Liu Yanlong, representative for OOWAY Group, said, "We welcomed Kitchen Culture as a strategic investor in OOWAY Technology given the mutual benefits of the acquisition, which was in line with Kitchen Culture's diversification strategy and OOWAY Group's expansion in the ASEAN region. OOWAY Group provided an opportunity for Kitchen Culture to leverage our network and capabilities, as well as to participate in the significant growth potential of Big Data analytics and Artificial Intelligence."

Kitchen Culture's diversification strategy was crucial as it had long suffered from recurring losses and negative operating cash flow from its core business as a kitchen solutions provider for 8 years and was in a dire state at the time of the acquisition.

The combination of the newly raised funds and OOWAY Technology's gilt-edge technical capabilities would have provided new engines for growth and hastened the return to profitability for Kitchen Culture.

Prospective investors present at OOWAY Group-led investment roadshows, eventually took up equity in Kitchen Culture, with the expectation of the game-changing business diversification through the acquisition of OOWAY Technology. Unfortunately, the raised capital has not materialised into any effort in business transformation.

Instead, we are deeply disappointed with the findings of the BTC report, which revealed that the gaps in Kitchen Culture's financial operating procedures led to[2]:

- Risk of misuse of Kitchen Culture's funds
- Risk of unauthorised use of proceeds obtained from the S$19.23 million of funds raised
- Risk of diversion of raised funds to purposes outside business diversification purposes
- Risk of questionable debt repayments to third parties
- Lack of independence and checks and balances in approving and processing payments
- Lack of accountability and traceability over entertainment expenses
- Lack of documentation for personnel hiring and pay increments
- Inappropriate operating structure involving multiple family members as management staff

These risks which were unknown to us prior to the acquisition have had a major impact on our growth plans as ongoing audits, investigations and lawsuits require significant time and resources, a challenging situation further compounded by the historical losses. Furthermore, Kitchen Culture has suffered reputational damage as a result of these issues.

Kitchen Culture's last traded price of S$0.08 per share marks an unrealised loss of close to 70% or S$16.72 million for the OOWAY Group following the completion of the acquisition. On the other hand, OOWAY Technology's value has remained stable during this period, which is also Kitchen Culture's key asset. As OOWAY Technology continues its development and making encouraging progress to grow its business, the long-term value of Kitchen Culture's stake in OOWAY Technology remains fundamentally intact.

Mr Liu added, "As a shareholder of Kitchen Culture, we have sustained significant losses, but we remain committed to growing our business together with Kitchen Culture and intend to provide the funding support needed in the near term to allay going concern issues."

The latest BTC report has identified S$7.22 million as "unmatched". This is a staggering sum and OOWAY Group hopes that the Management of Kitchen Culture investigates further to get to the bottom of this issue, so that any and all discrepancies will be ultimately accounted for to shareholders.

The Commercial Affairs Department (CAD) has recently requested for copies of the BTC reports for further review and investigation. We call on the new Board of Kitchen Culture to continue its relentless efforts to strengthen internal controls and implement BTC's recommendations without delay and to cooperate with the CAD to leave no stone unturned in fully resolving all outstanding issues, so we can lead the company in business transformation again.

Our confidence in Kitchen Culture's new Board to safeguard the interests of shareholders remains strong, but it must work hard to rebuild long-term value for Kitchen Culture and its shareholders.

BTC's Schedule of Matched and Unmatched Expense Items[3]
https://www.acnnewswire.com/docs/Multimedia/Low_OOWAY20220421.jpg

General Announcement:: UPDATE ON REVIEW BY BAKER TILLY CONSULTANCY (SINGAPORE) PTE. LTD. https://bit.ly/386bU8i
General Announcement:: ASSISTANCE IN THE REVIEW BY THE COMMERCIAL AFFAIRS DEPARTMENT https://bit.ly/3jWNY9U

[1] "Unmatched" refers to situations with any of the following criteria:
- Expenses cannot be traced to the bank statements
- Details of expenses cannot be traced to the underlying supporting documents
- Description of the expenses on the supporting document is not in line with the categories of utilisation as stated in Kitchen Culture's schedules
[2] These risks and gaps reflect the summary of findings listed in Kitchen Culture's response to SGX queries on 12 July 2021
[3] Rounded up to two decimal points

About OOWAY Technology Pte. Ltd.

OOWAY Technology is a big data AI technology company which uses innovative applications to creatively design intelligent digital products and models used in multiple fields. It does so by forming a closed loop of the entire process which includes data collection, model analysis, and intelligent applications.

OOWAY's development of an advanced technology platform - DIGIT (Digital Innovation of Global Integrated Trade) propels it to leading the way in a new era of B2B trading 4.0. By integrating the vitality of global trading businesses with emerging digital technologies, OOWAY's credit 3.0 technology is combined to construct a smart platform that ensures the authenticity and credibility of global trade whilst reducing costs, increasing efficiency and facilitating trade in a more reliable fashion. OOWAY brings to users the 5S operating framework, pushing out a new form of Ultimate Trade (UT). This has enabled global trade to evolve towards a new stage of standardization and intelligence.

Issued by OOWAY Group Ltd.

Media Contact:
Email: service@ooway.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAs the single largest shareholder of Kitchen Culture Holdings Ltd. ("Kitchen Culture") with a 21.19% stake, OOWAY Group Ltd. ("OOWAY Group" or the "Group") shares the frustration of many shareholders who raised concerns over matters of internal controls and governance ahead of Kitchen Culture's recent Annual General Meeting held on 18 March 2022.

Avance Clinical Finalist for Informa Pharma Intelligence Awards 2022 – Best Contract Research Organization in APAC

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ADELAIDE, AUS, Apr 19, 2022 - (ACN Newswire) - Avance Clinical, the largest premium Australian Contract Research Organisation (CRO) for international biotechs, has been selected as a finalist for the Best Contract Research Organization in APAC by Informa Pharma Intelligence.

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Avance Clinical has undergone significant expansion in recent years, including new offices in Sydney and Melbourne to accommodate the growing clinical team in Australia.

The award winner will be announced on 1 September 2022. The finalists are:
- Avance Clinical
- Calyx
- CMIC Group
- EPS
- ICON
- Parexel
- Syneos Health

Avance Clinical's CEO Yvonne Lungershausen said:

"Avance Clinical is extremely pleased to be selected as a finalist for this prestigious award. It is a credit to our amazing customer-focused team for delivering the CRO excellence that has been recognized by the Informa Pharma Intelligence award judges.

"Avance Clinical has a global reputation for agile clinical solutions to support accelerated clinical development for our international biotech clients. We are very proud of our growth and success in APAC in recent years."

According to Informa Pharma Intelligence:

This Award is to recognize CROs that provide full or specialist services to their clients and which have an office in either in Japan or the Asia region including Australia.

Judging considers the quality of services and relationships built with clients and pays particular attention to the innovative patient recruitment strategies the CRO has brought to the table.

The award is based on achievements in the 2021 calendar year.

Core areas judged include:
- The particular capabilities and strengths the CRO offers
- How the company has delivered results that exceed sponsor expectations
- Innovations in patient recruitment strategy has the CRO brought to its partner
- How it has improved its performance, for example, in its quality of data, timelines and transparency
- The steps the company is taking towards streamlining data collection and reporting

To find out more please visit: https://pharmaintelligence.informa.com/events/awards/japan-awards-2022/shortlist-2022

Avance Clinical recently secured a significant investment from global private equity firm, The Riverside Company (Riverside), to support further regional and global expansion. The investment values the company in excess of $200m.

"With the support of Riverside and its powerful global footprint and deep healthcare experience, Avance Clinical will execute on its regional and international expansion plans organically and via acquisitions," said Lungershausen.

Avance Clinical is the Australian-owned CRO that provides global regulatory standard clinical research services across all phases to the local and international biopharma industry.

The company is also accredited as a gene technology CRO under the Office of the Gene Technology Regulator (OGTR) which has allowed it to expand into clinical trials for vaccines and GMO therapies.

"We have shown, with our high growth and industry-leading repeat business rates that our focus on gold standard technology paired with solution-orientated clinical experts is the mix our biopharma clients require in this fast-moving, competitive and high-stakes sector," said Lungershausen.

Avance Clinical has been recognised for the past two consecutive years with the prestigious Frost & Sullivan CRO Best Practices Award.

Find out more:
- Learn about the Australian Advantage here https://www.avancecro.com/the-australian-advantage/
- Read more about Avance Clinical's cell and gene therapy capabilities here www.avancecro.com/avance-clinical-featured-in-endpoints-news-on-cell-gene-therapy-capabilities/
- For more information about the benefits of running your next study with Avance Clinical contact us: enquiries@avancecro.com

About Avance Clinical

Avance Clinical is the largest premium full-service Australian CRO delivering quality clinical trials, with globally accepted data, in Australia and New Zealand for international biotechs. The company's clients are biotechs in their early phases of drug development that need fast, agile, and adaptive solution-oriented clinical research services.

Frost & Sullivan Awards
Avance Clinical, a Frost & Sullivan Asia-Pacific CRO Market Leadership Award recipient for the past two years, has been providing CRO services in the region for 24 years.

Pre-clinical through to Phase 1 and 2
Avance Clinical offers pre-clinical services with their experienced ClinicReady team right through to Phase 1 and 2 clinical services leveraging significant Government incentive rebates of up to 43.5% and rapid start-up regulatory processes.

With experience across more than 105 indications, the CRO can deliver world-class results and high-quality internationally accepted data for FDA and EMA review.

Technology
Avance Clinical uses state-of-the-art technology and gold standard systems across all functional areas to provide clients with the most effective processes. Medidata, Oracle, and Medrio are just some of the technology partners.

Media Contacts:
Avance Clinical
Chris Thompson
media@avancecro.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAvance Clinical, the largest premium Australian Contract Research Organisation (CRO) for international biotechs, has been selected as a finalist for the Best Contract Research Organization in APAC by Informa Pharma Intelligence.
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