A New Transatlantic Partnership for European CCA

  • General Atomics announces plans for rapid international uncrewed fighter development

General Atomics is taking a bold step toward rapidly delivering a European Collaborative Combat Aircraft (CCA) – based on a mature U.S. platform, assembled in Europe, with European mission systems – by aligning its independent U.S. and German aerospace affiliates under a teamed operation.

YFQ-42A
YFQ-42A

The new aircraft is derived from the U.S. Air Force’s YFQ-42A prototype, currently in ground testing and scheduled for first flight later this summer, designed and built by General Atomics Aeronautical Systems, Inc. (GA-ASI) in San Diego, Calif. European mission system customization and manufacturing in Europe will be supported by General Atomics’ German aerospace affiliate, General Atomics Aerotec Systems GmbH (GA-ATS), headquartered in Oberpfaffenhofen, near Munich.

Leveraging the prior investments of these established aerospace companies on both sides of the Atlantic provides a jump start for European uncrewed fighter development and a pathway to meet the speedy acquisition timelines set by European nations. It also provides an established path for further international collaboration efforts and indigenous defense partnerships, based on both companies’ previous successes in global aircraft delivery.

“We’re eager to combine our uncrewed aircraft system expertise with the airborne sensor and weapons system expertise of the European defense industry, starting with our own affiliate GA Aerotec Systems GmbH in Germany,” said GA-ASI CEO Linden Blue. “With a proven CCA design already in production today, these systems will be delivered in significant quantity with high-technology European inputs to build and sustain affordable mass for NATO’s fighter forces.”

GA-ASI is the world’s foremost builder of unmanned aerial systems, delivering more than 1,200 aircraft over three decades and supporting a net fleet operation approaching 9 million flight hours. The company has pioneered three types of unmanned combat jets, including the groundbreaking MQ-20 Avenger® (2009) and the U.S. Air Force’s XQ-67A Off-Board Sensing Station (2024). Its YFQ-42A fighter was rapidly developed from the XQ-67A baseline and is expected to fly only 18 months after its predecessor.

International collaboration is a significant focus for General Atomics. GA-ASI aircraft are flown by the US, the U.K., Spain, France, Italy, Netherlands, Japan, India and many other customers around the world. GA-ASI’s high-value supply chain for UAS extends deeply into these partner nations, where major airframe components, subsystems, and complete sensor payloads are manufactured.

GA-ATS is a German aircraft manufacturing and Maintenance, Repair and Overhaul company. Aircraft have been manufactured and serviced on the company site for more than 40 years. The company conducts MRO on NH-90 helicopters for the German military; builds, sustains, and modifies the Do-228 multi-role aircraft; and performs engine overhaul on the TPE-331-10 turboprop engine, common to both Do-228 and MQ-9A/B unmanned aircraft.

A new Collaborative Combat Aircraft for Europe, leveraging the YFQ-42A baseline, will benefit from these previous successes, Blue explained.

“European nations are essential and irreplaceable allies for the United States and our company,” he said. “We will supply a mature aircraft baseline already well along in its development, and we’ll look forward to German and other European national partnerships to bring these aircraft online in European and NATO air forces as the Continent grows a new generation of highly capable defense systems.”

About GA-ASI
General Atomics Aeronautical Systems, Inc. is the world’s foremost builder of Unmanned Aircraft Systems (UAS). Logging nearly 9 million flight hours, the Predator® line of UAS has flown for over 30 years and includes MQ-9A Reaper®, MQ-1C Gray Eagle®, MQ-20 Avenger®, and MQ-9B SkyGuardian®/SeaGuardian®. The company is dedicated to providing long-endurance, multi-mission solutions that deliver persistent situational awareness and rapid strike.

For more information, visit www.ga-asi.com.

Avenger, EagleEye, Gray Eagle, Lynx, Predator, Reaper, SeaGuardian, and SkyGuardian are trademarks of General Atomics Aeronautical Systems, Inc., registered in the United States and/or other countries.

Contact Information
GA-ASI Media Relations
asi-mediarelations@ga-asi.com
(858) 524-8101.

SOURCE: General Atomics Aeronautical Systems, Inc.

Olympus Recognized on CDP’s “A List”, the Highest Rating in the Field of Climate Change

Olympus Corporation (Olympus), a global MedTech company committed to making people’s lives healthier, safer and more fulfilling, today announced it has been recognized by CDP1, an international environmental non-profit organization, as an “A List” company for fiscal year 2024. The A List rating is awarded to companies that demonstrate excellence in setting climate change-related targets and initiatives.

CDP evaluates major corporations and institutions around the world based on their responses to questions on climate change measures, water resource management, and environmental issues. In this year’s assessment, approximately 24,800 companies participated globally, including more than 2,100 Japanese companies.

As part of its Environmental, Social, and Governance (ESG) strategy, Olympus has designated “Carbon Neutral Society and Circular Economy” as a focal area. To contribute to the realization of a decarbonized future, Olympus established a target in May 2023 to achieve net-zero greenhouse gas emissions across its supply chain by 2040. In November 2023, Olympus received a net-zero2 certification from the Science Based Targets initiative (SBTi)3, reinforcing its commitment to sustainability.

In addition, Olympus is accelerating its efforts to reduce greenhouse gas emissions by improving manufacturing processes, promoting energy-saving measures, and phasing power consumption at its facilities to renewable energy sources. Recognizing the importance of reducing the environmental impact across its entire supply chain, Olympus is working continuously to develop environmentally friendly products, enhance logistics efficiency, and set emission reduction targets in collaboration with suppliers. These initiatives support both the company’s sustainability goals and the broader global effort toward decarbonization.

For further details on Olympus’ sustainability initiatives, please visit the Sustainability page.

Comment from Yasuo Takeuchi, Olympus Director, Representative Executive Officer, and Executive Chairman and ESG Officer
“At Olympus, ESG principles are embedded in our corporate strategy as we work toward the realization of Our Purpose of making people’s lives healthier, safer and more fulfilling. Our recognition on CDP’s A list reflects our commitment to climate action and transparent environmental disclosure. We believe that contributing to the sustainable development and progress of the globe and society based on our founding spirit, by putting Our Purpose into practice, will allow Olympus itself to achieve sustainable growth and value creation.”

1: CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy.

2: Net zero refers to reducing greenhouse gas emissions (Scopes 1, 2, and 3*) by at least 90% in line with the latest climate science (1.5°C scenario). Remaining emissions (less than 10%) must be offset using equivalent credits derived from carbon sequestration and removal (such as afforestation and CO2 capture and storage) to achieve balance.
*Scope 1: Direct greenhouse gas emissions by combustion of fuels in our sites.
Scope 2: Indirect greenhouse gas emissions from our sites use of electricity, heat or steam supplied by other companies.
Scope 3: Other, indirect emissions of greenhouse gas emissions (excluding Scope 1 and 2).

3: SBTi is an international initiative jointly established by the World Wildlife Fund (WWF), CDP, the World Resources Institute (WRI), and the UN Global Compact. The initiative encourages companies to set science-based greenhouse gas reduction targets that align with the goal of limiting global temperature rise to 1.5 degrees Celsius above pre-industrial levels.

About Olympus
At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide innovative solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit https://www.olympus-global.com/ and follow our global X account: @Olympus_Corp.

Media contact:
Mail: Global-Public_Relations@olympus.com

Olympus Corp [TYO: 7733] [ADR: OLYMY] [STU: OLY1] [FRA: OLYS] https://www.olympus-global.com 

HKTDC Export Index 4Q23: 4-6% expected growth for Hong Kong exports in 2024

  • Demand for AI-enabled electronics components fuels market surge

Hong Kong exports are expected to grow by 4% to 6% next year – a sharp contrast to the 11% decline in the city’s export levels recorded for the period between January and October this year.

This optimistic outlook is driven by the significant increase in demand for electronic components, partly on account of growing demand for AI-enabled devices and other finished products, which play a crucial role in boosting the city’s prospects.

Commenting on the likely upturn in Hong Kong’s export performance, Hong Kong Trade Development Council (HKTDC) Director of Research Ms Irina Fan said: “The unique properties of Hong Kong’s electronics-orientated export economy make it almost ideally positioned to take full advantage of the imminent rebound in demand for high-tech components.”

The Hong Kong Export Outlook forms part of the review of the city’s export prospects conducted annually by HKTDC Research. This wide-ranging review takes into account a wide array of factors, including many key global, regional and local economic indicators.

Light at the end of the tunnelDespite many of the factors restraining Hong Kong’s 2023 export growth likely to remain in place next year, HKTDC Research’s confidence is based on the widespread acknowledgment that the electronics sector – which accounts for 70% of all of Hong Kong’s exports – is expected to enjoy rapid growth in 2024, partly on account of growing consumer and business demand for AI-enabled PCs.

“Demand in this sector is certain to bolster the local economy overall, ensuring that Hong Kong’s wide exporter base will be fully ready and adequately resourced to take advantage of wider global economic recovery, which is expected to come to fruition over the course of 2025,” she added.

Continuously softened sentiment in the near-termExport growth is set to come after continuously softened export sentiment this year. The HKTDC Export Index contracted 5.5 points to 35 in the fourth quarter of 2023, indicating Hong Kong exporters have become more cautious amid rising geopolitical tensions, in particular the Israel-Gaza conflict, and sluggish external demand.

Exporter sentiment has declined across four of the six major industry sectors. Machinery at 40.3 (up 0.9 points) was one of the better-performing sectors, followed by electronics at 34.8 (down 6.0 points). Less optimistically, toys suffered the most substantial decline, falling 12.8 points to 29.4.

Based on a quarterly HKTDC survey of 500 exporters from six major industries – clothing, electronics, jewellery, machinery, timepieces and toys – the index above 50 indicates an optimistic outlook and below 50 pessimistic.

India, Taiwan and Mainland China markets promisingSentiment in all key export markets remains below 50. However, sentiment towards India (42.7, up 10.1 points) is the most positive, followed by Taiwan (42.5, up 4.8 points) and Mainland China (39.5, up 0.9 points). Meanwhile, exporters were less confident, when it came to their export prospects to the EU (34.6, down 2.6 points) and the US (33.6, down 2.8 points).

Economic risks and geopolitical tensions concernsLooking ahead, economic risks remain the top concern for 2024. The majority (84.7%) of respondents saw economic slowdowns or recession risks in overseas markets as the major challenge, followed by ongoing geopolitical tensions (62.5%) and rising transport costs / disruption to logistics and distribution obstructions (41.8%).

Ensuring sufficient cash flow clearly stands out as the focus for next year, with over half of the exporters intending to adopt cash flow management, significantly more than in the last survey in the third quarter this year (32%). More exporters also aim to maintain competitiveness by providing a wider range of value-added services (44.5%) and increasing marketing and promotional activities (41.2%).

HKTDC Research Principal Economist Mr Wing Chu said in addition to the common strategy of cash flow management, different industries favour various approaches. “For example, businesses in the electronics, timepieces and machinery sectors are keen to increase marketing, promotion or business matching in the coming year. Those in jewellery and clothing sectors, meanwhile, are more inclined to prioritise the use of e-commerce to drive sales growth,” he added.

References

Photo download: https://bit.ly/41jZQb5

HKTDC Director of Research Ms Irina Fan (left) and Principal Economist Mr Wing Chu (right) announced the Hong Kong’s Export Outlook 2024 and the HKTDC Export Index for the fourth quarter of 2023 at a press conference today

HKTDC Director of Research Ms Irina Fan

HKTDC Principal Economist Mr Wing Chu

 

Media enquiriesPlease contact the HKTDC’s Communication and Public Affairs Department:Jane Cheung                       Tel: (852) 2584 4137                  Email: jane.mh.cheung@hktdc.org

About HKTDCThe 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

Olympus Names Dr. John de Csepel as Chief Medical Officer

Driving the Medical and Scientific Affairs Division to provide the highest level of patient access and safety

Olympus Corporation (Olympus), a global MedTech company committed to making people’s lives healthier, safer and more fulfilling, named Dr. John de Csepel to the role of Chief Medical Officer (CMO), effective immediately.

In this role, John will report to CEO Stefan Kaufmann and drive the globally integrated Medical and Scientific Affairs Division (MSA) with a wealth of experience and remarkable track record in healthcare. Olympus is devoted to developing safe medical devices with demonstrable clinical and economic value to reduce the social burden of healthcare costs while improving healthcare outcomes for all.

Dr. John de Csepel
Dr. John de Csepel

“As a leading global MedTech company, we must deliver optimal medical care that prioritizes patient safety to meet the expectations of our stakeholders. Today, I am delighted to announce an exciting new leader to take the team to even greater heights,” said Shigeto Ohtsuki, Olympus Chief Human Resources Officer. “We look forward to the innovative ideas, expertise, and leadership that Dr. de Csepel will bring us as we continue contributing to the advancement of healthcare.”

The MSA team aims to improve patient outcomes by elevating the standard of care through minimally invasive solutions across targeted diseases while delivering above-market, sustainable growth.

John joins Olympus from Medtronic, where he most recently served as the Global Regions Chief Medical Officer. He played a pivotal role in driving innovative relationships with healthcare providers and enhancing patient access to care through his leadership in clinical research and medical science. Before that, he headed the Medical Affairs teams at both Barrx Medical and Covidien’s Surgical business, demonstrating exceptional leadership and expertise in the MedTech industry. Concurrent with his management experience, he has worked as a volunteer war surgeon for Doctors Without Borders (Médecins Sans Frontiéres) from 2006 through 2014 and since then as a New York City trauma surgeon on the weekends.

John holds a bachelor’s degree in business administration and a doctorate in medicine from Georgetown University, Washington D.C. He was a General Surgery Resident and Laparoscopic Surgery Fellow at the Mount Sinai School of Medicine in New York and subsequently served as Chief of Minimally Invasive of Surgery at New York’s Saint Vincent’s Hospital. He continues to reside in New York, U.S.A.

About Olympus

At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide best-in-class solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit https://www.olympus-global.com/ and follow our global X account: @Olympus_Corp.

Media contact:
Nao Tsukamoto
Tel: +81-80-8853-9124
Mail: Global-Public_Relations@olympus.com

Olympus Corp [TYO: 7733] [ADR: OLYMY] [STU: OLY1] [FRA: OLYS] https://www.olympus-global.com

Argus Research: Society Pass (Nasdaq: SOPA) – Building a Loyalty-Driven E-Commerce Platform in Southeast Asia

Argus Research Company (Argus Research) issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) (SoPa).

Click Here (on Society Pass website) or Here (on Argus Research website) to view the full Argus Research Equity Research Report. https://tinyurl.com/ArgusResearch-SOPA-26August

Summary Points:

  • Society Pass Inc. (“SoPa”), founded in 2018 and based in Singapore, operates e-commerce platforms in Southeast Asia (“SEA”). SoPa focuses on the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore, and Thailand, which together account for more than 80% of the Southeast Asian population. SoPa’s vertical markets include Lifestyle, Grocery and Food Delivery, Mobile Telecommunications, Loyalty, Travel, and Digital Media. Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.
  • SoPa’s business model is based upon acquiring smaller e-commerce companies with high growth potential at a relatively low cost and expanding its user base across a robust product and service ecosystem. SoPa plans to integrate these diverse businesses by attracting and retaining customers through a loyalty program called Society Points, which has entered beta testing and is expected to launch broadly in the beginning of 2023. Loyalty program members will be able to redeem points to make purchases directly from Society Pass or from affiliated merchants. They will also receive personalized promotions and discounts based on the company’s data capabilities and understanding of consumer shopping behaviour. Argus Research believes that this open-loop loyalty program differentiates Society Pass from other regional competitors.
  • As of August 2022, SoPa has amassed more than 3.3 million registered consumers and over 205,700 affiliated merchants and brands. Second-quarter 2022 revenues of approximately $500,000 reflect the nascent stage of its platform rollout.
  • Argus Research has a favourable view of SoPa’s target markets given its still limited e-commerce capabilities and strong projected growth. Vietnam, Indonesia, Philippines, Singapore, and Thailand all have young, rapidly-growing populations with a median age of 25-32, compared to an estimated 42 in China, a much more mature market. SEA economies are also growing at a faster-than-average rate. According to the International Monetary Fund, since 2010, SEA has averaged 4.6% GDP growth, compared to 0.7% in Japan, 0.8% in the EU, and 1.7% in the US.
  • Argus Research forecasts 2022 revenues of $7 million and 2023 revenue of $30 million, primarily driven by Leflair and supported by Pushkart, Handycart, and other recently completed acquisitions. Argus Research expects the broad launch of the Society Points programs to accelerate the revenue growth trajectory, and Argus Research forecasts a revenue run rate of approximately $40 million by the end of 2023 (for entities whose acquisition have already closed).
  • SoPa’s recent market cap near $50 million is close to one-time 2023 year-end revenue run-rate forecast of $40 million, and well below the average multiple of four-to-five times for a basket of comparable e-commerce peers. Argus Research believes the current valuation does not seem to reflect adequately SoPa’s growth prospects, driven by acquisitions, the loyalty points program, and continued economic recovery in SEA. Further, Argus Research thinks that the restructuring of Leflair to a separate entity that can eventually support its own public listing can unlock shareholder value for SoPa, with an attractive return on capital, under a holding company model.
  • To value Society Pass, Argus Research applies a six-times multiple to a year-end 2023 revenue run-rate forecast of $40 million, discounted back one period at 10%. Argus Research then adjusts based on its outlook for $15 million in cash and share count of 30 million at the end of 2022, and arrive at a fair value estimate for SOPA of $8 per share, well above current levels.
  • In Argus Research’s view, a premium to the peer average is warranted, given the early stage of Society Pass’ revenue-growth trajectory. Argus Research notes that its revenue assumptions could change significantly, as the company continues its M&A strategy and integrates new companies into its product and service ecosystem.

About Society Pass Inc
As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

SoPa’s business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The SoPa loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan, the leading local restaurant delivery service in Philippines. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

HKTDC Hong Kong Watch & Clock Fair and Salon de TE open today

  • Five-day fairs open to public with various activities and offers

The special edition of the 40th HKTDC Hong Kong Watch & Clock Fair and ninth Salon de TE, organised by the Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades and Industries Ltd, officially open today, bringing together more than 160 exhibitors. The physical fairs run from 8 to 12 September at the Hong Kong Convention and Exhibition Centre (HKCEC), while the online version runs until 19 September, providing continued sourcing opportunities through both physical and online formats.

Officiating at today’s opening of the 40th HKTDC Hong Kong Watch & Clock Fair and ninth Salon de TE
Sponsored by Prince Jewellery & Watch for the 11th consecutive year, World Brand Piazza presents 12 renowned international brands including spectacular pieces from Piaget and Jacob & Co.
A series of public activities including watch parades, “Watch X Fashion” parades and product launches are being held throughout the fair period with models showcasing the latest designs.

The five-day fairs are open to the general public for the first time, offering visitors the opportunity to appreciate precious timepieces and shop for watches at discounted prices. Organised by the HKTDC, Asia’s premier fashion event CENTRESTAGE runs from 10 to 12 September at the HKCEC, presenting designer brands from around the world. The concurrent fairs create synergies and new business opportunities for participants from both the watch and fashion industries.

World Brand Piazza features exquisite international brands
Showcasing quality watches of different designs, Salon de TE comprises various thematic zones including World Brand Piazza, Craft Treasure, Chic & Trendy and Renaissance Moment. Sponsored by Prince Jewellery & Watch for the 11th consecutive year, World Brand Piazza presents 12 renowned international brands, including Blancpain, Breguet, Chopard, CORUM, FRANCK MULLER, Glashutte Original, Jacob & Co, Jaquet Droz, Juvenia, PARMIGIANI FLEURIER, Piaget and SARCAR Geneve.

A broad range of timepieces are under the spotlight, including the following:
Masterpieces showcase exquisite micro-engraving skills
– Memorigin highlights the Six Steeds in the Tang Dynasty tourbillon watch, its first manual-winding watch that possesses a central tourbillon with free sprung balances. Each piece involves 260 hours of craftsmanship to showcase the Yangtze River, Yellow River, mountains and 18k galloping gold horses on the 42mm-diameter watch. (Booth: 1D-A20)
– ANPASSA presents its Racing Tourbillon RXD31MCS with an 18k gold micro-engraved golden dragon featured on the tourbillon movement. The titanium case is set with rainbow-coloured gemstones, showcasing the talent of the watchmaker in creating three-dimensional visual art. (Booth: 1D-A17)

Sparkling designs grab attention
– Fouette presents the Le Petit Prince L’Etoile, which is produced in a limited quantity of just 100 pieces. The watch features 76 pieces of cubic zirconia on the bezel and eight pieces on the L’Etoile dial. It also includes a Le Petit Prince figurine in 925 sterling silver with luminous stars and hands – features that are all highly attractive to fans of the Little Prince. (Booth: 1D-B05)
– The Temporis “My” collection, inspired by the 12 zodiac constellations, has the watch case, bezel and crown set with 350 sparkling stones. The highlight of the piece is the constellation symbol rendered in black sparkling stones that provide a strong contrast to the silvery white background. (Booth: 1D-B07)

Artistic designs on trend
– The MONA LISA, Da Vinci @ Traveling Muzeum Collection Watch was designed by renowned fashion designer Vivienne Tam, and engineered by eminent scientist James Wong. The dial is decorated with 29 pieces of genuine topaz and features a crown set with valuable alexandrite. The watch, which also features a high-quality, shock-tolerant 316 S/S Swiss movement, is available for sale in a limited edition of 1,680 pieces. (Booth: 1D-B01)
– The Roulette Master Skeleton automatic model by Romago has a transparent case back showcasing an open-worked rotor. The watch is water resistant up to 50m. (Booth: 1D-B09)

Classic and trendy must-haves
– The Iza Collection C174RRD from Swiss brand COINWATCH showcases a stainless-steel case with 16 diamonds and a rose gold PVD bezel. The piece also features an interchangeable double-wrap leather strap. (Booth: 1D-A09)
– Empire Watch brings back a classic with a modern twist, featuring a metallic blue colour and a minimalist dial design. This quartz analogue watch is made from stainless steel with a mesh band safety lock, sapphire glass and a Japanese movement. (Booth: 1E-C35)

The Watch & Clock Fair also showcases parts and components. For example, the Japanese watch movement MIYOTA is introducing the Caliber 9029 at the fair, a new calibre that meets the latest trend for slimmer watch designs using its two-hand Premium Automatic movement. Other zones showcase complete watches, clocks, packaging and trade services.

Events, lucky draws and attractive shopping offers for public visitors
Various public activities are being held during the fairs including watch parades, “Watch X Fashion” parades and product launches, with the participation of local celebrities such as Cheung Tat-ming, Nelson Cheung, Derek Wong, Lilian Kan and Chan Wing-luk. Lucky draws will be organised during the fairs with prizes such as a tourbillon watch valued at HK$28,000, a one-carat moissanite diamond ring, jewellery pieces, fashion items and more. Visitors can also participate in Smart Bidding to bid for watches starting at 10% of the original price, including a tourbillon watch valued at HK$47,000. Visitors can download electronic coupons (https://bit.ly/2W7eWU7) to enjoy discounts of up to 40% when buying watches at the fairs. In addition, key opinion leaders are conducting livestreaming shows during the fairs to introduce selected watches at the onsite studio.

A watch craftsmanship workshop with the theme “Reminisce and Inherit: Locally-Made Tourbillion Demonstration” (12 September) will feature local watchmakers introducing Hong Kong-made tourbillons and demonstrating aspects of the manufacturing process. Visitors can take this chance to get a deeper understanding of the art of watchmaking.

Industry experts offer valuable insights on market prospects and trends

Industry participants should not miss a series of forums and seminars that provide first-hand market information and insights into the latest business trends. A seminar titled “Global Luxury Watch Investment and Market Outlook in Mainland China” (10 September) will invite John Ng, Horologer of Montres S.A. and known as the only Asian disciple of master horologer Philippe Dufour, Ho Sai-chu, Chairman of Chih Lo Lou Art Promotion (Non-Profit Making) Ltd, and watch experts and consultants from renowned auction houses such as Sotheby’s, Christie’s and Phillips to share insights into global and Mainland Chinese luxury watch investment, the role of the younger generation in the watch industry and the watch industry outlook in the Guangdong-Hong Kong-Macao Greater Bay Area.

Meanwhile, the Hong Kong International Watch Forum, broadcast online on 6 September, featured sharings by representatives of watch associations from Mainland China, France, Germany, Hong Kong, Japan and Switzerland. In addition to the latest market insights, participants discussed the future direction for development in the global watch manufacturing sector. Video playback is available for viewing on the fair website. Under the theme “Redesigning the Future of Luxury Watches”, the Asian Watch Conference (9 September) will invite a representative from iClick Interactive to share her views on online and offline marketing strategies for luxury watch brands in the mainland, while Dayton Industrial’s representative will offer insights into the latest developments of the watch industry. Louis Chan, Principal Economist (Global Research) from HKTDC Research, will share future markets insights for the watch industry.

Click2Match enables business matching
The HKTDC has mobilised its network of 50 offices worldwide to invite overseas buyers to connect and maintain contact with exhibitors through video conferencing. The AI-powered online business matching platform Click2Match helps to bring exhibitors together with the most suitable buyers. Participants can also take advantage of functions such as a meeting planner, live chat and e-business card exchange, helping them to overcome barriers and build business connections around the world.

Design competition to promote local creativity
To nurture budding local designers, the HKTDC joined together with the Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades & Industries Ltd to organise the 38th Hong Kong Watch & Clock Competition. The theme of the Open Group was “Minimalism” and the winning design, “SPACE BAR” by Tam Kwok-tung, presents an empty transparent container in which the hands are hidden under the wheels. The student group’s theme was “Live Fully” and the first prize went to Yip Tsz-yan from the Hong Kong Design Institute for her “Insight” design, which took inspiration from the optical arts. The winning and finalist entries from the competition are on display at Hall 1D Concourse during the fair, showcasing the best of Hong Kong’s creativity to buyers and the public.

Websites:
– Hong Kong Watch & Clock Fair: https://hkwatchfair.hktdc.com
– Salon de TE: https://hkwatchfair.hktdc.com/te
– Photo download: https://bit.ly/3l3krM0

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

Media enquiries:
HKTDC’s Communications & Public Affairs Department
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Angel Tang, Tel: +852 2584 4544, Email: angel.hc.tang@hktdc.org

Jicheng Lyu: The Philanthropic Prophet

During 10 years of philanthropic activism, Jicheng Lyu sets himself apart from the rest with an inspiring record of ongoing service and a nomination for a 2020 China Philanthropy Award.

From poverty alleviation to COVID-19 response work, Jicheng Lyu has been, is, and will continue to be on the front lines of serving communities. Nominated for the 2020 China Philanthropy Award, he leads a team of 300 staff and volunteers. Above all, Lyu believes in individuals making a difference.

Jicheng Lyu opens on his lifetime of service, saying: “I have always believed that local and grassroots organizations are the catalyst to change.”

Following this belief, he started the SINIC Foundation. “The SINIC initiative supports over 400 civil society organizations with over 1.49 million dollars of funding to carry out poverty alleviation projects in 516 villages and for 74,334 impoverished households.”

His continuous work in supporting villages and individuals has raised awareness and money. The recognition gained and donations have aided the continuation of service work, exponentially.

In fact, because of his work towards starting the SINIC Foundation and the good it has resulted in, Lyu and his team are now candidates for the 2020 China Philanthropy Award. This recognition is the most prestigious for social responsibility and accountability.

Going deeper into what Jicheng Lyu and his team accomplished that led to the Philanthropy Award nomination, the journey includes aid for different branches of relief. COVID-19 assistance, Save the Children project management and Johnson & Johnson service all highlight the road to Lyu’s philanthropy success.

The beginning of 2020 marked the start of a very stressful year in China. Hardship and distress were around every corner due to COVID-19. Many individuals did not know what to do. Fortunately, Jicheng Lyu knew he had to step up and provide help in every way he knew how.

This led to the “Promotion for Public Welfare,” a project that delivered meals and supplies to doctors and nurses in Wuhan. Between January and April of 2020, over 137,000 supplies were delivered to 6 different hospitals.

When asked about the supplies being delivered to members of the Jiangxi medical team, Jicheng Lyu responded: “The medical team lacked daily necessities, so we provided them with those basic daily necessities such as paper, soap, hangers, and washbasins.”

Hospitals in Wuhan were grateful that they had the essentials that were previously unavailable to them until Lyu assisted. This is only the latest of what Jicheng Lyu has accomplished as a practitioner of philanthropy.

Jicheng Lyu ran a forum with Save the Children that was considered “vocational education” and funded by Accenture. Migrant youth empowerment was emphasized, with workshops that taught skills and encouraged large companies to provide jobs.

As he describes, “in these workshops, migrant youth commented on policies and expressed what they needed in employment procedure. This became the input of topics discussed in the forum.” This beneficially impacted both marginalized people and companies who attended the workshops.

Through soft skills and education, over 10,000 youths were taught valuable lessons on career development. By teaching the attendees about workflow and the companies how to train and hire, it breaks the cycle of vulnerability.

After learning these valuable skills, each young person involved is able to maneuver through the challenges of the fast-changing world. Specifically, migrant youths aged 16-25 learned how to explore their strengths, build positive attitudes, effectively find jobs, make impactful decisions, be efficient, manage money, and understand health practices.

This was the first time that Save the Children had developed a program geared towards young people developing soft skills necessary for success. In the long term, the kids had the kickstart they needed to continue their lifetime of knowledge.

As the youngest manager in Save the Children China, Lyu headed a team of 5 staff members. He leant them a hand and led them through projects that impacted the lives of everyone involved. Through building a training model, the most effective tools were implemented for the highest level of student success.

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This led to widespread success, as groups were able to learn and then perform that knowledge with each other. Because of their lessons, they are able to use the skills they learned with Jicheng Lyu and perform it in real life settings. Ultimately they may even use these skills to impact the world in a big way.

Before his work with Save the Children, Lyu worked with Johnson & Johnson, developing a volunteer manual that expressed opportunity and facilitation within the company. This manual resulted in a large number of J&J staff, supply chain members, and doctors serving many different vulnerable groups within their community.

Within the year of working on this project with J&J, 119 volunteers created 21 activities for the public to take part in. When numbers skyrocketed and over 1,000 citizens had benefited, J&J made the decision to create a fund of $20,000. For the first time, the fund created was to be allocated to support local grassroot, non-governmental organizations.

With his experience in philanthropy, Jicheng Lyu sees very different ways in which both people and companies decide to donate. In some cases, proving to have a good heart is more important than actually accomplishing a good deed.

Performance activism is enacted everywhere. When social capital becomes more important than the people who you stand to help, it no longer becomes charity. No company or person should wish to gain anything but delight and compassion when helping someone.

Lyu describes it perfectly when he says: “such is human nature that people are willing to donate money as much as possible for the privilege of becoming a lifesaver in the eyes of the government.” It is his hope that individuals as well as companies are able to see the difference between helping for the benefit of others and helping for purposes of self-gratification.

Through seeing the selfless actions of others, will sponsors be able to make altruistic decisions in the future? Jicheng Lyu hopes so and plans to have a positive effect on those who wish to do good for the benefit of others.

Media contact
SINIC Foundation
Jicheng Lyu
https://www.linkedin.com/in/jichenglyu/

Maculus Therapeutix welcomes Privity FZ LLE and Prepares Capital Raise for Novel Drug Delivery Platform

Maculus Therapeutix, a preclinical-stage biopharmaceutical company which has developed a SINGLE injection delivery platform for diseases such as wet AMD (Age-related Macular Degeneration) and DME (Diabetic Macular Edema) instead of the standard 8-12 monthly injections, is pleased to welcome Privity FZ LLE as a partner and advisor for upcoming fundraising activities. Maculus plans to raise USD3 million with a USD8 million valuation for a 12-18 month period, including initial in-vivo animal studies and completion of in-vitro / in-vivo drug elution studies.

Maculus achieved the breakthrough using a patented novel tunable biodegradable proprietary product, MacuBloc, capable of delivering any FDA approved drugs for Wet AMD / DME to the site of the disease, with unique suitability for targeted and extended delivery of drugs to the back of the human eyes, MacuBloc offers significant benefits to Wet AMD patients: a single intravitreal injection that lasts a year rather than the current monthly injections, and a potential reduction in inflammation, infection, doctor visits and total cost of care, compared to current practice.

Syed H Askari, PhD, Founder, Chief Executive Officer and CTO of Maculus Therapeutix, said, “We are very excited to welcome Privity in developing this unique product, which can bring such transformative treatment to those suffering from wet AMD and DME. Our product is designed to solve each of the challenges while significantly reducing the total cost of care. More importantly, our product makes it possible to replace the 10 injections with ONE injection for any FDA approved drug, a leap ahead of the current standard of care.”

The approach will change the lives of 200 million patients worldwide who suffer from debilitating eye diseases. Current standards of care (8-12 monthly injections to the eyes for AMD and for DME) have numerous challenges: pain, inflammation, infection, loss of vision. Our product is designed to solve each of these challenges while significantly reducing the total cost of care. More importantly, our product makes it possible to replace the 10 injections by ONE injection for any FDA approved drug, a significant leap ahead of the current standard of care.

Sleem Hasan, Privity Founder and CEO, said, “Privity was founded to identify entrepreneurs with unique ideas and compelling value propositions, and Maculus fell right into this sweet spot, speaking straight at me as I had experienced diabetic retinopathy personally and amongst family members. Syed is a serial entrepreneur, his education and training in India, UK, Canada and the US, and professional career speak for themselves.”

About Maculus Therapeutix, Inc.
The Maculus Therapeutix team has been together in Silicon Valley for 15 years, building Medicus Biosciences Inc., a polymer-based medical device company with current operations in San Diego, CA., and developing the polymer drug delivery platform for various diseases. Our target markets include treatments for AMD and DME. Globally, the AMD market size is $10B, growing at 7% CAGR, and the DME market size is $4B, with 10% CAGR. For more information, please visit www.maculustherapeutix.com.

About Privity FZ LLE
Privity FZ LLE was founded in Dubai in 2004, an independent venture-focused advisory firm which seeks entrepreneurs with interesting and unique ideas and helps them to develop and grow. Privity is agnostic to geography and industry vertical; It focuses on the quality of the entrepreneur and the compelling value proposition of the idea. Privity draws upon its unique 4i methodology – ideas, intelligence, innovation, invention – to deliver insightful advisory and consulting services. For more information, please visit www.privitylle.com.

Contact information:
Syed H Askari, CEO
Maculus Therapeutix, Inc.
syed@maculustherapeutix.com

Sleem Hasan, CEO
Privity FZ LLE
sleem@privitylle.com

Indonesia’s Rimba Raya: World First REDD+ Project Validated for its Impact on all 17 SDGs

In September 2020 Rimba Raya Biodiversity Reserve (Rimba Raya) project obtained independent verification contributing to the environment, biodiversity and Sustainable Development Goals (SDGs) under SD VISta

In September 2020, the Rimba Raya Biodiversity Reserve project obtained independent verification for contributing to the environment, biodiversity and Sustainable Development Goals (SDGs), and upholding the rules and procedures of the SD VISta (Sustainable Development Verified Impact Standard) Program.

Rimba Raya is the first REDD+ project validated under the SD VISta Program for its impact on each of the 17 United Nations Sustainable Development Goals (SDGs), resulting from the project’s various activities. The initiatives introduced prevent deforestation and land-use change and encourage community development and economic growth.



“We are very proud of the verification results. This makes the Rimba Raya project become even more determined as a verifiable REDD+ conservation project with additional benefits for the environment and society, supporting people’s lives and achieving an impact toward the 17 SDG goals,” said Sylviana Andhella, Executive Director of Rimba Raya Conservation.

In January 2020, an independent third-party assessment was carried out by AENOR at the Rimba Raya project in Central Kalimantan, Indonesia. The main objective of the assessment was to ensure compliance with the rules and requirements of the SD VISta Program were being met..

The scope of the assessment included the impact of the project on sustainable development, and our contribution to the UN SDGs, and their benefit to community members, including their financial prosperity. Additionally, the project was evaluated for significant contribution to the protection of habitat and biodiversity.

The SD VISta Program provides a new standard for understanding the specific impact of a project, both environmental and social aspects. SD VISta enables the project to assess the benefits of sustainable development generated directly towards achieving the SDG’s goals. By successfully completing the Verra SD VISta audit, the Rimba Raya project provides a new level of quality assurance and transparency in reporting project results and additional impact claims for emissions reduction efforts.

Rimba Raya project was initiated by InfiniteEARTH, implemented and managed by Rimba Raya Conservation. The purpose of the project is to reduce emissions in Indonesia by conserving about 64,000 hectares which encompasses large areas of tropical peat swamp forest. This action was vital to preventing the conversion of the entire area to an oil palm plantation, which would certainly have led to additional forest degradation within the adjacent Tanjung Puting National Park and consequent loss of biodiversity and habitat, particularly for the endangered Bornean orangutan and other vulnerable animals listed on the IUCN Red List of Endangered Species. Rimba Raya project works in 14 villages in Seruyan district, Central Kalimantan, in which community living dependently on rivers and forests within and along the project’s borders.

Over the years, Rimba Raya project has introduced several economic incentives which are aimed at promoting community development, district government infrastructure and project area protection. Community programs serve as a means to encourage continued efforts in the preservation of the tropical peatland forests and to encourage a greater understanding of each individual’s impact, while highlighting the importance of coming together as a community to ensure that these initiatives are relevant and sustainable.

Community involvement is enhanced through the development of programs that improve quality of life. These initiatives cover a broad spectrum of services such as:
– Initiatives that promote sustainable livelihoods
– Increased access to healthcare
– Early childhood development
– Fire prevention activities
– Water filtration systems
– Access to training and higher education
– Forest patrols

Verified Sustainable Development Goals

SDG No. – GOAL – Direct Contributing Project Activities
1. No Poverty – Employment, Micro enterprises, Solar Power & Solar Lanterns
2. Zero Hunger – Chicken Farms & Zuper Shrimp Paste
3. Good health & well being – Floating Clinic, Reading Glasses
4. Quality Education – Training, Scholarships, Community Centers & Village Libraries, Mangrove Reforestation
5. Gender Equality – RRC employment, Chickens Farm & Zuper Shrimp Paste
6. Clean Water and Sanitation – Water filters and Water Filtration systems
7. Affordable and Clean Energy – Power Solar & Solar Lanterns
8. Decent Work and Economic Growth – Chickens Farm & Zuper Shrimp Paste, Tree nurseries, Community Centers & Village Libraries
9. Industry, Innovation & Infrastructure – Industry, Innovation & Infrastructure Solar power, Micro-Credit; Chickens Farm & Zuper Shrimp Paste, Community Centers
10. Reducing Inequality – Solar Power & Solar Lanterns, Water filters
11. Sustainable Cities and Communities – Support for Tanjung Puting National, Orangutan Care Facility
12. Responsible Consumption and Production – School Curriculum: promoting Climate Change/Sustainability at school in project area
13. Climate Action – Mangrove Reforestation & Peat Swamp Reforestation, Establishment and Protection of the Rimba Raya Reserve, Community Firefighting, Training, School Curriculum: Climate Change/Sustainability, Tree nurseries
14. Life Below Water – Seruyan River Cleanup; Mangrove Reforestation
15. Life on Land – Mangrove Reforestation & Peatswamp Reforestation, Tree nurseries, Establishment and Protection of the Rimba Raya
16. Peace, Justice, & Strong Institutions – Community Centers, Solar power
17. Partnerships for the Goals – Development Donations

About PT Rimba Raya Conservation
PT Rimba Raya Conservation (PT RRC) is a company that develops the programs of ecosystem conservation and restoration by protecting and securing the trees, establishing the forest and conserving the forest’s biodiversity. The release of orangutans is one of the fundamental obligations of PT RRC as the licensee of Timber Forest Product Utilization Restoration (IUPHHK-RE).

PT RRC is clearly committed to protect, conserve and secure its work area concession of 64,000 hectares to the fullest including to restore the forest and its biodiversity and the local community. PT RCC is a privately held company that pioneers ecosystem conservation and restoration by implementing a REDD+ program. For more information, please visit www.rimba-raya.com.

Contacts:
Frita Junita
Communication Officer, Rimba Raya Conservation
Email: rimbarayajakarta@gmail.com
Hp +62 857-1743-7001

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