Empowering Women In Critical Sectors To Challenge The Status Quo

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Cityneon Raises S$235 Million; Well Positioned for Next Growth Chapter

  • The global experience entertainment company gets a S$235 million shot in the arm, closes its private fund raising in April 2021
  • Investors both new and existing include Singapore's Pavilion Capital, Seatown Holdings International and EDBI, Qatar's Doha Venture Capital and financial institutions and family offices in Singapore and China
  • These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan
  • Funding comes just after the Group acquired multi-year licensing rights for James Cameron's AVATAR touring exhibition, and two original artefacts IP on the ancient civilization Machu Picchu from Peru and Ramses the Great (Ramses II) from Egypt
  • Investments position the Group well to bring experiences across the globe, targeting to launch six experiences in China and five in the U.S. by the end of 2021, with more in other parts of the world

SINGAPORE - Media OutReach - 21 April 2021 - Cityneon Holdings ("Cityneon", the "Company"/collectively with its subsidiaries, the "Group") raised S$235 million in the most recent round of private funding. The latest round of funding adds seasoned investors to Cityneon's already strong stable of shareholders.

This funding round was led by Singapore's Pavilion Capital, Seatown Holdings International, EDBI, and Cityneon's Executive Chairman & Group CEO, Mr. Ron Tan. EDBI and Pavilion Capital are existing shareholders of Cityneon whilst new investors include Seatown Holdings International, Qatar's Doha Venture Capital, which will now own approximately 4 per cent of the Group, and other financial institutions and family offices in Singapore and China.

These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan to form a new and strong shareholder base for the Group. Mr. Johnson Ko and Mr. Ron Tan remain as the largest shareholders of the company via their combined entity, West Knighton Limited.

The Group is now well positioned for its next growth chapter and will use the proceeds for capital expenditure that includes building more of its various intellectual property (IP) exhibition sets, totaling 24 travelling and four semi-permanent sets under the Studio IP partnerships and three travelling sets under the original artefact IP partnerships by the end of 2022.

Already, the Group just signed its fifth IP rights with Avatar from 20th Century Studios last year. Amidst the anticipation from Avatar fans worldwide, Cityneon will debut a multi-sensory Avatar exhibition in Chengdu, China in May 2021, ahead of the Avatar movie sequel which is slated for release in 2022. Avatar is the world's top grossing film of all time at over US$2.8 billion, and adding millions more after its successful re-release in China in March 2021. Avatar's director James Cameron has announced that he will be producing four sequels with 20th Century Studios, with the first sequel slated for release next year. Disney acquired 20th Century Studios for US$71 billion in 2019.

The Company also recently entered the original artefacts IPs space and will stage international exhibitions of the treasures of the ancient civilization Machu Picchu from Peru in Boca Raton, Florida and Pharaoh Ramses II from Egypt in Houston, Texas. These two experiences will start welcoming visitors in October and November 2021, respectively.

Other IP rights that the Group holds include partnerships with Universal Studios for Jurassic World: The Exhibition, Marvel for Avengers S.T.A.T.I.O.N., Lionsgate for The Hunger Games: The Exhibition and Hasbro for Transformers Autobot Alliance. All in, Cityneon holds the IP rights for five of the top 10 worldwide box office hits and two artefacts IP from Peru and Egypt. The Group expects to have six sets of its various IP rights travelling across China, and five travelling and permanent sets in the United States, with a few more in other parts of the globe.

The Group will also be reopening experiences that were temporarily closed in 2020, aiming to provide visitors with a safe entertainment option. These include the Marvel Avengers S.T.A.T.I.O.N. in Toronto, Canada that will be re-opening in May 2021; and the Marvel Avengers S.T.A.T.I.O.N. exhibition in Lotte Mall in Seoul, Korea in April 2021; the same exhibition space which previously housed Jurassic World: The Exhibition, another IP experience exhibition by the Group in 2019. In the past month, the Group also witnessed record visitor numbers at their semi-permanent installations in Las Vegas, USA, signaling a strong comeback and demand for their immersive experiences, as they step into the 6th year of operations there.

While there are exciting plans lined up, the Group is not resting on its laurels. More Hollywood IPs and artefact IPs can be expected, and there will be further announcements on new IP verticals in entertainment experiences that the Group is looking to enter.

Mr. Ron Tan, Executive Chairman & Group CEO of Cityneon, said: "It is exciting that the Company is going through such strategic expansion as one of the largest providers of exhibition entertainment experiences globally. The S$235 million funding round sets a solid foundation for us to invest in developing more of our entertainment experiences, to stage even more exhibitions of the five box office hits and two artefact IPs that we hold the rights to all over the world. I'm thankful that our strong investors base, now from Singapore, Hong Kong, China and the Middle East, have trust in our vision, and believe alongside us that this space of big ideas and big experiences will only grow."

By the end of this year, Cityneon will arguably be the largest provider of exhibition entertainment experiences internationally; with global footprints in more than 50 cities and welcoming 10 million unique visitors across the world by 2022.

Cityneon Holdings

With its global reach and international partnerships, Cityneon has the capability to serve its clients anywhere in the world. Cityneon was listed on the Mainboard of the Singapore Stock Exchange since 2005, and was privatized on February 2019 by West Knighton Limited, a company wholly owned by Cityneon's Executive Chairman and Group CEO, Ron Tan, together with Hong Kong veteran entrepreneur and investor, Johnson Ko Chun Shun. Johnson is a capital markets veteran and has held controlling interests and directorships in many listed companies. In May 2019, Cityneon welcomed CITIC Capital as a new shareholder, who holds approximately 10% shares in Cityneon. CITIC Capital is part of CITIC Group, one of China's largest conglomerates, and has over US$25b of assets under its management across 100 funds and investment products globally. Other institutional shareholders of the Group include EDBI - a Singapore government-linked global investor, and Pavilion Capital - a Singapore-based investment institution which focuses on private equity investments, that made strategic investments in August and October 2019 respectively, to support the Group's further expansion globally. For more information, please visit www.cityneongroup.com.

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By Lamin Manjang

Although women’s rights have seen a significant positive change in the last decade, it remains a critical topic of conversation across various sectors in different parts of the world.

According to the United Nations (UN) Secretary-General António Guterres, “Progress towards equal power and equal rights for women remains elusive. No country has achieved gender equality, and the COVID-19 crisis threatens to erode the limited gains that have been made.”

Women’s global economic development role provides significant progress and impact, charting new opportunities for women to continue to change the status quo. Even though we continue to record very many successes by women, there is still a lot more that can be achieved, especially in representing more women in the workforce.

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According to the United Nations (2020), only 50% of working-age women are in the labour market for more than twenty years. This means that more women need access to resources and opportunities to break stereotypes resting in labour market positions. As a Bank, one of the ways we commit to addressing this is how we strategically continue to support some of the UN Sustainable development goals that empower women, especially in this new-normal era.

I echo the words of the UN Secretary-General, António Guterres “The Decade of Action to deliver the Sustainable Development Goals and efforts to recover better from the pandemic offer a chance to transform the lives of women and girls, today and tomorrow…”.  We see this as an invitation to work collaboratively with the United Nation as corporate organisations and individuals to achieve growth and sustainable progress for women.

In line with this year’s International Women’s Day theme, #ChooseToChallenge, our forward-thinking approach to initiatives and programs continues to deliver sustainable value for women, especially in a country like Nigeria, where women account for 49.34% of the total population.  We see that the fewer income-generating opportunities for the larger population may leave women in an even more financially vulnerable position, hence our motivation to set up various initiatives such as the Women in Technology Incubator program, which launched in Nigeria 2019, following successful launches in New York, Kenya and the UAE

This program aims to support female entrepreneurship with the call for increased gender representation and diversity in tech and for more opportunities for women to develop entrepreneurial and leadership expertise. Also referred to as Women in Tech, the incubator supports early-to-mid stage professionals in technology and business sectors to have the requisite domain knowledge, experience, and perseverance to deliver results. Other markets equally running the program include Pakistan, Bahrain, Zambia, and Ghana

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Our goal is to enhance women’s role through business incubation and generate business outputs that improve existing business and women entrepreneurs’ capacity. Additionally, this program promotes and creates awareness about women business incubation globally and strengthens cooperation and network building between the various incubators.

This ripple effect will cause an increase in the investment that different incubators receive, therefore integrating and developing more women who are part of this program. It has also created awareness about incubation challenges specific to Nigerian women and outlined various activities required to improve women-led enterprises’ technological infrastructure and structural support for Women Incubation. To date in Nigeria, we have invested over $250,000 in this program and are committed to doing more to sustain the program for posterity

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We understand that investing in Nigerian youth through education and creating productive and remunerative employment is the only way to support this growing demographic. Additionally, SCB sees the need to do its part in empowering the estimated 600 million adolescent girls in the developing world. Hence, the introduction of our Global Goal programme to Nigeria in 2011.

Goal tackles female empowerment by imparting adolescent girls in rural communities with life skills through sports training in partnership with leading global non-profit organisations. We have strategically designed this programme for girls between 12 and 18 who live in under-served communities by enrolling them in sessions typically offered weekly for ten months. The girls are being taught critical facts about health, communication, rights, and managing their finances. All this is done to understand how to share the knowledge with their friends, family, and communities.

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To ensure that more girls are taught these essential skills, girls who complete the Goal programme and display exceptional leadership qualities are invited to become Goal Champions, making them eligible to receive training to deliver the Goal curriculum to their peers. Since its inception in 2006, the Goal programme has reached more than 525,000 girls and young women worldwide.

Without gender equality, efforts to empower women will only go so far. For example, our global Futuremakers initiative is set-to up tackle this and promote financial inclusion across our markets. We aim to raise US$50 million between 2019 and 2023, needed to empower the next generation to learn, earn and grow. This augments our desire to continuously #ChooseToChallenge as a Bank.

Our method is simple; to contribute to Sustainable Economic Growth by investing in strategic leadership training programmes under the youth’s employability project. Globally, we recently partnered with Young Business International (YBI) to support young entrepreneurs hit by the economic impact of Covid-19. The project is part of our Futuremakers by Standard Chartered global initiative to tackle inequality.

Bringing it home to Nigeria, our implementation partner,  FATE Foundation, will provide holistic support through various initiatives, including Digital Transformation Workshop, Resilience-building Series, and Remote Consulting & Advisor services to be delivered virtually by our employees to 2,000 entrepreneurs across Nigeria. We will specifically target entrepreneurs between the ages of 18-35, who the crisis has hardest hit.

Between 2019 and 2020, we had also invested over USD50,000 in work-ready employability project training and equipping nearly 200 Nigerian youths with skills and resources to aid their career development journeys. Empowering the future is a gift that keeps on giving, and for us, we intend to continue to do this for a very long time.

For every woman or girl-child not empowered economically, our work is not done. We will continue to grow our current programmes and initiatives, partner with similar organisations, and start new ones in areas we have not yet covered. We strive for equal representation as we #ChooseToChallenge this year and always.

 Lamin Manjang is the Chief Executive Officer of Standard Chartered Bank Nigeria Limited

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Exceptional Attack Protection Proven in Rigorous MITRE Engenuity ATT&CK® Evaluations

Trend Micro’s flagship threat detection and response platform proves its advantages in sophisticated simulations


HONG KONG SAR - Media OutReach - 21 April 2021 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, excelled in the latest ATT&CK Evaluation performed by MITRE Engenuity. The Trend Micro Vision OneTM platform quickly detected 96% of attack steps from the simulation that mimicked the behavior of two infamous APT groups.

Unlike other industry organizations that test a product's ability to detect and prevent various malware samples, MITRE Engenuity's ATT&CK Evaluations appraise a solutions' ability to detect targeted attacks leveraging known adversary behavior. This approach more closely mirrors real-world attacks that are most critical. MITRE Engenuity focused on techniques associated with notorious threat groups Carbanak and FIN7 in this year's simulations.

Click here to read the full MITRE Engenuity ATT&CK Evaluation for Trend Micro Vision One: https://resources.trendmicro.com/MITRE-Attack-Evaluations.html.

"Security has been about spotting the tools used in an attack: MITRE Engenuity adds the dimension of recognizing rather the patterns of an attacker, no matter when different tools are used," said Greg Young, vice president of cybersecurity for Trend Micro. "MITRE ATT&CK is, like the attacks it models, complex. Doing well on a third-party test like this is satisfying – and with 96% visibility, we did very well here – especially considering it models techniques used by two of the world's most capable threat groups. An even bigger success is helping educate organizations that ATT&CK isn't just about the test but that ATT&CK can be a part of the everyday playbook for SOCs, which is reflected in our solutions."

This year's test included two simulated breaches, one at a hotel and one at a bank, using typical APT tactics such as elevation of privileges, credential theft, lateral movement and data exfiltration.

Trend Micro Vision One recorded the following impressive results:

  • Delivered 96% of attack coverage to provide visibility of 167 out of 174 simulated steps across the evaluations. This broad visibility allows customers to have a clear picture of the attack and respond faster.
  • 100% of attacks against the Linux host were detected, capturing 14/14 attacker steps, which is especially important considering its huge increase in use by many organizations.
  • 139 pieces of telemetry were enriched by the Trend Micro Vision One platform to provide extremely effective threat visibility to better understand and investigate attacks. This is critical for SOC analysts.
  • 90% of attack simulations were prevented through automated detection and response very early on in each test. Deflecting risk early on frees up investigation resources, allowing teams to focus on the harder security problems to solve.

Trend Micro Vision One allows customers to see more and respond faster — collecting and automatically correlating telemetry across email, endpoints, servers, cloud workloads and networks to speed up detections and investigations.

Its performance against techniques used by two of the world's most formidable cybercrime enterprises proves its value in threat detection and response, and ability to optimize cyber-risk reduction for customers.

The MITRE ATT&CK framework helps industry define and standardize how to describe cyber-attack techniques — offering organizations a common and regularly updated language to triage detection and response as efficiently as possible.

This year's strong performance in MITRE Engenuity's ATT&CK Evaluation is the second in a row for Trend Micro, whose capabilities also impressed in the 2020 tests.

About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk

About MITRE Engenuity ATT&CK Evaluations

MITRE Engenuity ATT&CK Evaluations are paid for by vendors and are intended to help vendors and end-users better understand their product's capabilities in relation to MITRE's publicly accessible ATT&CK® framework. MITRE developed and maintains the ATT&CK knowledge base, which is based on real world reporting of adversary tactics and techniques. ATT&CK is freely available, and is widely used by defenders in industry and government to find gaps in visibility, defensive tools, and processes as they evaluate and select options to improve their network defense. MITRE Engenuity makes the methodology and resulting data publicly available so other organizations may benefit and conduct their own analysis and interpretation. The evaluations do not provide scores, ranks, or endorsements.

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