Hyundai to set up car Plant in Nigeria

Hyundai Engineering Company Limited said on Tuesday that it was on the verge of setting up a car plant in Nigeria. The South Korean firm also said it would invest in the rehabilitation of the country’s petroleum refineries.

President/Chief Executive Officer of Hyundai Engineering, Mr Chang Hag Kim, stated these during a visit to the President, Major General Muhammadu Buhari (retd.), at the State House, Abuja.

Buhari, while welcoming the proposal, promised that the Federal Government would give the appropriate support to the firm to bring its plan to fruition.

He also informed the CEO that Nigeria was focused on achieving energy security for the country, adding that “the goal is to achieve self-sufficiency in the supply of petroleum products within the next three years.”

A statement by his media aide, Mr Femi Adesina, after the meeting, quoted Buhari as saying, “We will collaborate and support to make the investment a reality.”

Founded in 1967, the 51-year-old Hyundai has over 15,000 engineers and technical staff around the world. Hag Kim told Buhari that his firm was ready to invest in the Nigerian economy. “We have been building refineries worldwide.

“We have the biggest in South Korea, with 650, 000 barrels per day capacity. We are also in Venezuela, Iraq, and many other places. We will be glad to contribute our quota in Nigeria,” the CEO stated.

Yahoo Year in Review: Singapore’s Top Searches of 2019 Dominated by Tragedy and Scandals

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SINGAPORE – Media OutReach – 18 December 2019 – What do former Malaysia PM Najib
Razak, undergraduate Monica Baey and the Hong Kong protests have in common?
They were among the people and developments that riveted internet users in
Singapore this year, according to Yahoo’s 2019 Year in Review (YIR).

 

The YIR is Yahoo’s annual recap of the top search
trends, events and happenings over the year, based on the daily searches across
its platforms in 2019.

 

Top Happenings
That Riveted The Nation

Crime and tragedy were all-consuming topics in Singapore
this year.

 

Malaysian Prime Minister Najib Razak, who is mired in
the scandal involving the 1MDB fund that he founded and chaired, was the subject
of intense interest among Yahoo users.

 

Netizens were also shocked by the brutal Orchard Towers
murder allegedly committed by a group of young adults. Natalie Siow, the only
female accused in the case, made the list of top searches on Yahoo.

 

28-year-old actor Aloysius Pang and his tragic death
following an accident during his army reservist training led many to search
online about ‘training safety’ problems and solutions. Actress Jayley Woo, who
made her relationship with Aloysius public after the accident, also emerged as
one of Yahoo’s top searches.

 

Monica Baey, a victim of a Peeping Tom case at the
National University of Singapore, was in the spotlight as she sparked a
national debate on campus safety and the penalty meted out to sex offenders.

 

The frosty relations between China and the US remained
on top of the minds of internet users, who closely monitored the moves by the
superpowers against each other throughout the year and their adverse impact on
the global economy. The trade war and tariffs, in addition to Chinese tech
giant Huawei, which is reeling from a component supply ban imposed by the US
government, were among the top search topics.

 

The socio-political unrest in Hong Kong has also
captured Singapore’s attention. With the world watching, the unprecedented
protests led to the withdrawal of the controversial extradition bill as
tensions ratcheted up between China and the West, particularly the US, over
perceived interference in the Chinese city’s affairs. 

 

In Southeast Asia, all eyes were on the Indonesian
general elections. As 80 million people cast their vote, Yahoo users were keen
to know whether the country would maintain its identity as a secular state amid
rising Islamic fundamentalism.

 

Getaway
Destinations

London emerged as the third most popular holiday destination after Bangkok and Tokyo. This might be
due to the ease of passing through customs as the ePassport gates (automated) were extended to Singapore
passport holders
in May at 15 airports across the UK.

 

Gastronomic
Indulgences

Singapore,
blessed with myriad cultures and cuisines, saw a few intriguing keywords most
commonly searched on Yahoo this year. Dim sum emerged at the top of the list,
followed by the ever popular Hainanese chicken rice.

 

The
Singapore Sling also made a showing in tandem with the relaunch of Long Bar at
Raffles Hotel, where the iconic drink originated in the early 1900’s, after an extensive
renovation
. Bubble tea, fish bee hoon and bak kut teh
were also among the most popular food cravings in the past year.

 

Sporting Fever

In Sports, football again dominated the list of top
searches, with people looking for news about the English Premier League, the
UEFA Champions League, and the Asian AFC Champions League.

 

Top English clubs Manchester United and Liverpool were
also widely searched as excitement intensifies in the competitive EPL.

 

Singapore’s F1 Grand Prix continues to attract
attendees — this year, the three-day action-packed event saw close to 270,000
people come together at the Marina Bay Street Circuit. The world’s only F1
night race made the list, along with the ever sensational NBA.

 

Most Searched
Celebrities

While the late Aloysius Pang, and Jayley Woo were two of the top searched
celebrities, Pang’s manager Dasmond Koh, who helped front media interviews
alongside Pang’s family, piqued Singapore’s interest too. The wildly popular JJ
Lin
, who held a concert back home with tickets re-sold at inflated
prices, was also among Singapore’s top searches.

 

Actor Dennis Chew triggered heated debates about
casual racism when he appeared in a controversial ‘brownface’ ad, where he
portrayed an Indian moustached man.

 

An Instagram direct message exchange between Ian Fang and Carrie Wong where they badmouthed
fellow actor Lawrence Wong in between flirtatious texts, piqued the curiosity
of Yahoo users and elevated the celebs to the top of the search list.

 

For the biggest moments online and other surprises from
the year, take a detailed look at Yahoo Year in Review 2019 – https://sg.news.yahoo.com/yearinreview.

About the Yahoo 2019 Year in Review Methodology

To develop the Yahoo Year in Review, our team analyses
interest patterns based on users’ searches. It takes into account a number of
factors, including absolute volume and growth from previous periods to see which
themes and trends bubble to the surface.

 

Disclaimer: Please note the results are not necessarily
a representation of a popularity contest or voting.

About Verizon
Media

Verizon Media, a division of Verizon Communications,
Inc., houses a trusted media ecosystem of premium brands like Yahoo, TechCrunch
and HuffPost to help people stay informed and entertained, communicate and
transact, while creating new ways for advertisers and media partners to
connect. From XR experiences to advertising and content technology, Verizon
Media is an incubator of innovation and is revolutionizing the next generation
of content creation in a 5G world.

Zarina Group Public Company Limited’s THONGMA Gold Saving by ZARINA Honored at the International Innovation Awards 2019 in Singapore

0

SINGAPORE – Media OutReach – 18 December 2019 – Enterprise
Asia announced the winners of the International Innovation Awards 2019 in
Singapore. Thirty-five products, services and organizations are named as award
winners from over 160 submissions.

“There are not conventional ‘innovations’. When we set out to identify
winners of the International Innovation Awards, our goal is to present a broad
spectrum of innovations that could spur greater innovation in the recipients’
respective countries and industries. Just as innovation itself is continuously
self-redefining, the awards are meant to promote continuity in innovation”,
said Dato’ William Ng, president of Enterprise Asia.

Among the notable recipients are Malaysia’s AIA Bhd, Taiwan’s HIWIN
Technologies Corp., Singapore’s Olam International Ltd., Philippines’ Unilever,
Indonesia’s PT MRT Jakarta, and United Arab Emirates’ Roads and Transport
Authority and Vietnam’s Tan Hoang Minh Group.

Organized annually by Enterprise Asia, the International Innovation Awards
is among the most coveted global awards for innovation and aims to recognize
best innovations in the categories of Product, Service & Solution, and
Organization & Culture. This year’s judging panel include Martin Daffner,
founder of Innobrix, Professor Nadia Thalmann of Nanyang Technological University, Professor
Natcha Thawesaengskulthai of Chulalongkorn University, Makoto Shibata of
FINOLAB, The FinTech Center of Tokyo and Anna Simpson of Flux Compass.

“These are the trailblazers of our world. Beyond the
obvious commercial value, these innovations are what would power the world
forward, individually and collectively. I hope that more companies and
organizations would realize that constant innovation is not a luxury, but
necessity”, says Ng.

About Zarina Group Public Company Limited’s THONGMA Gold Saving by ZARINA

THONGMA Gold Saving by ZARINA is a kiosk of gold online platform or gold
online retailer under unique concept style of Zarina Group Public Company
Limited. We would like to develop gold retail stores of old concepts that have
been opened for over 30 years to become modern. Therefore, the Company have
invented an innovation that in concept “everyone can be own gold shop with
touchable price”.

Thongma Gold Saving by ZARINA can make benefit for investor up to 6 ways
as following;

1. Sell gold jewelry

2. Order to produce gold jewelry

3. Open Gold Savings Account

4. Proceed saving gold (saving cash and convert to gold weight)

5. Withdrawn a gold jewelry from gold savings account.

6. Withdrawn money from the gold Savings Account.

 

Thongma Gold Saving By ZARINA connects with 4 other online platforms;
website, application, line app, and top- up vending machines of our partners.
Thus, Thongma Gold Saving By ZARINA becomes the online platform that can
generate revenue for investor anywhere and anytime.

About Enterprise Asia

Enterprise Asia strives to create an Asia
that is rich in entrepreneurship as an engine towards sustainable and
progressive economic and social development reinforced by its strong pillars
of: Democratizing Entrepreneurship, Institutionalizing Sustainability and
Empowering Innovation.


About International Innovation Awards

The International Innovation Awards is an
annual regional recognition program that recognizes outstanding innovations,
and in the process, encouraging organizations to continue investing in
innovations. For more information on the International Innovation Awards 2019,
please visit www.innovationaward.org

Buffalo Machinery Co., Ltd’s ART™ – AXILE® Smart Monitoring System – Adapting to i4.0 Machine Tool Honored at the International Innovation Awards 2019 in Singapore

0

SINGAPORE – Media OutReach – 18 December 2019 – Enterprise Asia announced the winners of the
International Innovation Awards 2019 in Singapore. Thirty-five products,
services and organizations are named as award winners from over 160
submissions.

“There are not
conventional ‘innovations’. When we set out to identify winners of the International
Innovation Awards, our goal is to present a broad spectrum of innovations that
could spur greater innovation in the recipients’ respective countries and
industries. Just as innovation itself is continuously self-redefining, the
awards are meant to promote continuity in innovation”, said Dato’ William Ng,
president of Enterprise Asia.

Among the notable
recipients are Malaysia’s AIA Bhd, Taiwan’s HIWIN Technologies Corp., Singapore’s Olam
International Ltd., Philippines’ Unilever, Indonesia’s PT MRT Jakarta, and
United Arab Emirates’ Roads and Transport Authority and Vietnam’s Tan Hoang
Minh Group.

Organized
annually by Enterprise Asia, the International Innovation Awards is among the most
coveted global awards for innovation and aims to recognize best innovations in
the categories of Product, Service & Solution, and Organization &
Culture. This year’s judging panel include Martin Daffner, founder of Innobrix,
Professor
Nadia Thalmann of Nanyang Technological University, Professor Natcha Thawesaengskulthai
of Chulalongkorn University, Makoto Shibata of FINOLAB, The FinTech Center of
Tokyo and Anna Simpson of Flux Compass.

“These
are the trailblazers of our world. Beyond the obvious commercial value, these
innovations are what would power the world forward, individually and
collectively. I hope that more companies and organizations would realize that
constant innovation is not a luxury, but necessity”, says Ng.

About Buffalo Machinery Co., Ltd’s ART™ – AXILE® Smart Monitoring System – Adapting to i4.0 Machine Tool

ART™  is the solution for intelligent machines and
reliable automation to optimize the production with high reliability, energy
efficiency and production control. ART™ prepares high-tech
interfaces for the manager, operator, and service to easy access the machine
data, practicing the predictive maintenance, decision making facilitation, and
automatic restocking.

 

ART™  is available for i4.0 machine tools, with the
ART™  application, user can directly access the
machine data and production process with PC, notebook or any hand-held devices
such as smart phone or pad which makes you easy access the synchronized machine
information world widely.

 

ART™ system allows
machine to be able to perform 24/7 automation without unexpected downtime. With
the patented sensing and monitoring technologies, ART™ system can enhance the machine reliability and components lifetime
prediction. By connecting to the user’s ERP and IT system, and the capability
of error message notice prior to the machine failure, ART™  system enables
automatic re-stocking and maintenance service arrangement in advance to
minimize the inventories and service cost.

 

ART™  system supports sales with immediately
proposal provision to the client after the meeting and to catch the best
delivery time. Energy monitoring becomes possible, and management will be able to
check the best power cost. The system meets the Industry 4.0 requirement of big
data collection and analysis, AIoT, cloud technology and TQM.

About Enterprise Asia

Enterprise Asia strives to create an Asia
that is rich in entrepreneurship as an engine towards sustainable and
progressive economic and social development reinforced by its strong pillars
of: Democratizing Entrepreneurship, Institutionalizing Sustainability and
Empowering Innovation.


About International Innovation Awards

The International Innovation Awards is an annual regional
recognition program that recognizes outstanding innovations, and in the
process, encouraging organizations to continue investing in innovations. For
more information on the International Innovation Awards 2019, please visit www.innovationaward.org

Ospicon Systems Pte Ltd.’s SafetoSleep200 Honored at the International Innovation Awards 2019 in Singapore

0

SINGAPORE – Media
OutReach
 – 18 December 2019 – Enterprise Asia
announced the winners of the International Innovation Awards 2019 in Singapore.
Thirty-five products, services and organizations are named as award winners
from over 160 submissions.

 

“There are not
conventional ‘innovations’. When we set out to identify winners of the International
Innovation Awards, our goal is to present a broad spectrum of innovations that
could spur greater innovation in the recipients’ respective countries and
industries. Just as innovation itself is continuously self-redefining, the
awards are meant to promote continuity in innovation”, said Dato’ William Ng,
president of Enterprise Asia.

 

Among the notable
recipients are Malaysia’s AIA Bhd, Taiwan’s HIWIN Technologies Corp., Singapore’s Olam
International Ltd., Philippines’ Unilever, Indonesia’s PT MRT Jakarta, and
United Arab Emirates’ Roads and Transport Authority.

 

Organized
annually by Enterprise Asia, the International Innovation Awards is among the most
coveted global awards for innovation and aims to recognize best innovations in
the categories of Product, Service & Solution, and Organization &
Culture. This year’s judging panel include Martin Daffner, founder of Innobrix,
Professor
Nadia Thalmann of Nanyang Technological University, Professor Natcha Thawesaengskulthai
of Chulalongkorn University, Makoto Shibata of FINOLAB, The FinTech Center of
Tokyo and Anna Simpson of Flux Compass.

 

“These
are the trailblazers of our world. Beyond the obvious commercial value, these
innovations are what would power the world forward, individually and
collectively. I hope that more companies and organizations would realize that
constant innovation is not a luxury, but necessity”, says Ng.

 

About Ospicon Systems Pte Ltd.’s SafetoSleep200

Helping parents
nurture their infant’s growth from birth to provide them with the best start in
life. SafetoSleep200, our cot size sleep and breath sensing mat — support what
matters most to new parents — providing their infant’s breath and sleep
wellness analysis via an easy to use mobile application.

 

The
SafetoSleep200 is a revolutionary baby sleep and breath monitor that has
absolutely no wires so there’s no risk of strangulation. Unlike other baby
breath monitors on the market, the SafetoSleep sensor emits no electromagnetic
fields that could harm your baby.  Ospicon
System’s patented optic fiber technology allows the SafetoSleep200 to deliver
the most accurate and sophisticated real-time breathing sensing and sleep
analysis so your infants can sleep safer. Our breath sensing accuracy has been
validated by Singapore’s largest maternity hospital.

 

It is designed to
monitor the breathing of sleeping infants and alert parents if the infant’s
breathing becomes irregular. New born infant from 0 — 6 months typically
exhibits periodic breathing (no breathing gaps) which could result in reduced blood
oxygen levels that impede infant’s growth, sensory and cognitive development.
During infant’s early growth from 0 — 24 months, their immune system is prone
to respiratory infection. Rapid breathing in infants can be utilized as an
early indication of respiratory illness. Ospicon System’s unique BreathOptics
Ô technology allows the SafetoSleep mat to accurately detect such
periodic breathing and rapid breathing events. The SafetoSleep200 is designed
to be used with a complementary SafetoSleep app, which tracks and provides
parents with a comprehensive breath wellness alerts, reports and logs.

 

The
SafetoSleep200 also comes with an advanced ambient temperature and sound detection
sensor that monitors the baby’s sleep environment. The sensor can accurately
and effectively pick up and measure the ambient temperature and noise levels in
a room. The SafetoSleep200 intelligently analyzes and plots a sound/temperature
trend graph every 5 minutes for parents and caregivers to understand whether
the sleep environment affects a baby’s sleep quality.

 

The
SafetoSleep200 constantly monitors your baby around the clock ensuring parents will
have a complete peace of mind.


About Enterprise Asia

Enterprise Asia strives to create an Asia that is rich in
entrepreneurship as an engine towards sustainable and progressive economic and
social development reinforced by its strong pillars of: Democratizing
Entrepreneurship, Institutionalizing Sustainability and Empowering Innovation.


About International Innovation Awards

The International Innovation Awards is an annual regional
recognition program that recognizes outstanding innovations, and in the
process, encouraging organizations to continue investing in innovations. For
more information on the International Innovation Awards 2019, please visit www.innovationaward.org

Metropolitan Waterworks Authority (MWA) Thailand’s Chlorine Next Honored at the International Innovation Awards 2019 in Singapore

0

SINGAPORE – Media
OutReach
 – 18 December 2019 – Enterprise Asia
announced the winners of the International Innovation Awards 2019 in Singapore. Thirty-five products, services and organizations are named as
award winners from over 160 submissions.

 

“There are not conventional ‘innovations’. When we set out to identify winners of the International Innovation
Awards, our goal is to present a broad spectrum of innovations that could spur
greater innovation in the recipients’ respective countries and industries. Just as innovation itself is continuously self-redefining, the awards are meant to promote continuity
in innovation”, said Dato’ William Ng, president of
Enterprise Asia.

 

Among the notable
recipients of the InnoCube are AIA Malaysia, Taiwan’s HIWIN Technologies Corp., Singapore’s Olam International Ltd., Philippines’ Unilever, Indonesia’s PT MRT Jakarta,
and United Arab Emirates’ Roads and
Transport Authority and Vietnam’s
Tan Hoang Minh Group.

 

Organized
annually by Enterprise Asia, the International Innovation Awards is among the
most coveted global awards for innovation and aims to recognize best
innovations in the categories of Product, Service & Solution, and
Organization & Culture. This year’s judging panel include Martin Daffner, founder of
Innobrix, Professor Nadia Thalmann of Nanyang Technological University, Professor
Natcha Thawesaengskulthai of Chulalongkorn
University, Makoto Shibata of FINOLAB, The FinTech Center of Tokyo and Anna
Simpson of Flux Compass.

 

“These
are the trailblazers of our world. Beyond the obvious commercial value,
these innovations are what would power the world forward, individually and
collectively. I hope that more companies and organizations would
realize that constant innovation is not a luxury, but necessity”, says Ng.

About Metropolitan Waterworks Authority (MWA) Thailand’s Chlorine Next

Metropolitan
Waterworks Authority
(MWA), Thailand is responsible for providing tap water to
customers in 3,195 sq
.km service area. Since the area is spacious
and has complicated pipeline network, the chlorine retention time is long
. The effective rechlorination in the distribution system plays a key
role to maintain free residual chlorine
(FRC) in the entire pipeline
system to prevent post contamination in case that there are pipe breaks
. In addition to chlorination
at water treatment plants, MWA also has chlorine boosting system at 9 water
pumping stations to control FRC until the end of pipelines network
.

 

Chlorine Next,
a user
friendly mobile
application, is invented to be used as a single control point for chlorine
dosing in water distribution system
. Chlorine Next can be used to control and monitor chlorine dosage 24/7 and can provide suggestions about proper boosting
dosage complying with WHO guideline values for drinking water that the chlorine
has to be higher than 0
.2 mg/l. Using Chlorine Next,
we can provide customers quality tap water anywhere and anytime
. Chlorine Next is an
innovation that responds to SDGs in many aspects such as providing clean water
and sanitation to people, making sustainable communities and improving people
s good health.

About Enterprise Asia

Enterprise Asia strives to create an Asia that is rich in
entrepreneurship as an engine towards sustainable and progressive economic and
social development reinforced by its strong pillars of
: Democratizing
Entrepreneurship, Institutionalizing Sustainability and Empowering Innovation
.


About International Innovation Awards

The International Innovation Awards is an annual regional
recognition program that recognizes outstanding innovations, and in the
process, encouraging organizations to continue investing in innovations. For more
information on the International Innovation Awards 2019, please visit www.innovationaward.org

Netflix releases worldwide subscriber stats by region for the first time

Disney is chasing Netflix. So is Apple. AT&T and Comcast are about to start.

Have fun, says Netflix: We’re busy chasing the entire world — and we’re doing pretty well.

A scene from 6 Underground, the Michael Bay movie that debuted on Netflix in December 2019. Netflix

That’s a two-sentence takeaway of an investor document Netflix filed yesterday, which details the company’s pursuit of streaming video customers around the globe, and its very rapid growth.

The fact that Netflix has been expanding around the world isn’t a secret. The company takes great pains to underscore its global ambitions every time it talks to investors and media outlets. But this is the first time Netflix has spelt out how it’s doing at this level of detail.

It also happens to come as the company faces a slew of new competitors — and as its US growth rate has petered out. Earlier this year, Netflix actually saw its US subscriber number drop for the first time in more than a decade.

The fact that people outside the US are interested in streaming movies and TV shows hasn’t escaped Netflix’s competitors. Amazon, for instance, has been targeting international markets as well.

But Netflix’s newest foes are starting with US markets and then hoping to expand after that. Netflix has been streaming in almost every market in the world — with the notable exception of China — since January 2016.

One practical effect of that strategy is that Netflix is focused on grabbing global rights whenever it buys or creates programming, meaning that a Netflix customer in Minneapolis can watch Stranger Things at the same time as a Netflix customer in Tokyo. And Netflix executives frequently talk about shows that started off in one market, like Spain’s Money Heist, that go on to perform around the world.

You can see what the results look via the numbers Netflix filed with the Securities and Exchange Commission this week. In Europe, the Middle East and Africa, for instance, Netflix had 19.7 million subscribers at the end of March 2017; by the end of September of this year, that number was up to 47.4 million. And while Asia is currently Netflix’s smallest market, it is growing rapidly, from 4.7 million subscribers to 14.5 million in the same time frame.

Netflix paid subscribers by region, Q3 2019

Netflix also told investors how much money it brings in from subscribers in different parts of the world. In the US, the company generates an average of $12.36 in revenue per month for each customer; but in Latin America, where it offers different pricing and promotions, that number is down to $8.21 a month.

Netflix average monthly revenue per paying subscriber, Q3 2019

Wall Street will keep a close eye on that number in the future, especially as Netflix offers much lower pricing in markets like India, where it has started selling mobile-only subscriptions for $3 a month.

Netflix quarterly revenue by region

Commuters in Nigeria Paid More On Transportation in November – NBS

0

Commuters in Nigerian Cities paid more on transportation in the month of November. A transport Watch report released on Tuesday by the National Bureau of Statistics (NBS), indicates that the average fare paid by commuters for bus journey within the city increased by 0.62% month-on-month and decreased by -0.21% year-on-year to N192.05 in November 2019 from N190.86 in October 2019.

The Transport Fare Watch report for November 2019 covered: bus journey within the city per drop constant route; bus journey intercity, state route, a charge per person; airfare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and waterway passenger transport.

States with highest bus journey fare within city were Zamfara (N328.00), Cross River (N304.00) and Abuja FCT (N297.00) while States with lowest bus journey fare within city were Bauchi (N104.00), Sokoto (N139.00) and Anambra (N140.00).

Also, the average fare paid by commuters for bus journey intercity increased by 0.37% month-on-month and decreased by -8.22% year-on-year to N1,643.00 in November 2019 from N1,636.86 in October 2019. States with highest bus journey fare intercity were Abuja FCT (N4,176.00), Adamawa (N2,543.00) and Borno (N2,465.00) while States with lowest bus journey fare within city were Bauchi (N960.00), Enugu (N960.00) and Bayelsa (N998.00).

The NBS reported that the average fare paid by air passengers for specified routes single journey increased by 0.08% month-on-month and decreased by -6.59% year-on-year to N30,641.35 in November 2019 from N30,615.43 in October 2019. States with highest air fare were Rivers (N35,250.00), Jigawa (N35,247.00), Kwara (N35,220.00) while States with the lowest airfare were Katsina (N24,570.00), Osun (N25,250.00), and Sokoto (N25,270.00).

Furthermore, the average fare paid by commuters for journey by motorcycle per drop increased by 1.93% month-on-month and by 3.11% year-on-year to N125.54 in November 2019 from N123.16 in October 2019. States with highest journey fare by motorcycle per drop were Rivers (N220.00), Kogi (N199.00) and Ogun (N196.00) while states with lowest journey fare by motorcycle per drop were Adamawa (N60.00), Jigawa (N64.00) and Katsina (N66.00).

“Average fare paid by passengers for water way passenger transport increased by 0.64% month-on-month and decreased by -0.73% year-on-year to N559.00 in November 2019 from N555.43 in October 2019. States with the highest fare by waterway passenger transport were Delta (N1,850.00), Bayelsa (N1,840.00) and Rivers (N1,796.00) while states with the lowest fare by waterway passenger transport were Borno (N132.00), Gombe (N190.00) and Ebonyi (N196.00).”, the report stated.

Rising headline inflation rate worsens Real-Yield on T-bills

According to the Nigerian Bureau of Statistics (NBS), Nigeria’s headline inflation rate for Nov-19 rose to 11.85% y/y, 25bps higher than the Oct-19 level. Notably, the food and core inflation subindices both accelerated 39bps and 12bps to 14.48% y/y and 8.99%y/y respectively. For context, the prices of food items that had hitherto benefitted from informal cross-border trades (cereals, frozen foods as well as oil & fats) mounted the highest pressure on the food inflation sub-index, while pressure on the core component may be linked to increased system liquidity during the period.

Conversely, the average yield on short-term securities in the fixed income market continues to trade at a single-digit level. Notably, the yield on the 91-day bill closed at 5.06%, the 182-day bill closed at 5.49% and the 364-day bill closed at 7.01%. From a more technical point of view, the above implies that real yield on short-dated instruments continue to dip, now at -6.0% as PFAs and other institutional investors continue to pile up their funds on government bills.

By our estimate, the headline inflation rate will inch higher to 12.0% in Dec-19, as border closure and year-end demand pressure subsist. By implication, the real yield on short-dated bills will worsen amid rising system liquidity.

United Capital Research

Li Bao Ge Comes Aboard Freshippo

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To Explore New Retail Opportunities in Food Delivery Market Fully Integrated Online and Offline Operation

 

HONG KONG, CHINA – Media OutReach – 17 December 2019 – Li Bao Ge Group Limited (“Li Bao Ge” or
the “Company”;
stock code: 1869) announces its launch on Freshippo
to tap into China’s fast growing food delivery and takeaway market, based on the
“New Retail” concept which integrates physical stores for in-store consumption with
an online platform for fast and efficient ordering and delivery.

 

Li Bao Ge and Freshippo have entered into a
cooperation agreement, under which Li Bao Ge will open in-store counters at Freshippo
stores. With exclusive selling rights for Siu Mei products, Le Bao Ge will offer
cooked-on-site Hong Kong-style roast meat (“Siu Mei”) under the “Li Bao Ge”
brand, as well as other specialties such as Cantonese-style soup, dim sum,
dessert and festive delicacies. Freshippo will in turn make available its
digital platforms and on-site facilities to Le Bao Ge and provide technical
support, including its marketing initiatives, online sales resources, delivery
service, potential customers, and establishment of online to offline (“O2O”)
channels.

 

Li Bao Ge undertakes to set up not less than 10 counters
at Freshippo’s stores on or before 15 December 2020. It will leverage Freshippo’s
brand awareness and high traffic to attract more young consumers and develop
multi-channel sales to penetrate the Chinese takeaway and food delivery market.
With the introduction of Le Bao Ge’s Hong Kong style roast meat and other
signature dishes, Freshippo will provide an exquisite shopping experience to
customers. Since the size of the Company’s new in-store counters are
significantly smaller than its customary high-end Cantonese restaurants, the
investment cost will be considerably lowered. This will enable the Company to
transform into a less capital-intensive business model.

Mr. Chan Chun Kit, Chairman of Li Bao Ge Group, said, “We are
pleased to have formed this partnership with Freshippo to jointly develop the fast-growing takeaway and food delivery market. Freshippo is the
most notable player on the mainland embracing the “new retail” concept,
bringing consumers innovative shopping experience unmatched elsewhere. As
online consumption gains prevalence, the competition in the food and catering
industry has extended from restaurants to online order and delivery. With that
in mind, we have decided to adopt a new business model leveraging Freshippo’s
sophisticated digital management platform and big data analysis to develop a
new integrated O2O operation based on an asset-light model. Going forward, Li
Bao Ge will, starting
from the South China region, expand into regions and cities with high
purchasing power and appeal to a younger group of individual and family
customers. We will gradually transform from a conventional banquet dining
operator to a light meal delivery industry player. We will also explore the
opportunities for the retailing of packaged food to accelerate the pace of
expansion and enhance profitability.”

 

At
present, Li Bao Ge operates eight mid-to-high-end Cantonese restaurants in Hong
Kong and Shenzhen. Its revenue is mainly derived from banqueting. The
cooperation with Freshippo will substantially increase the number of Li Bao
Ge’s stores in China. The Company will benefit from more diversified revenue
streams from new O2O sales.

 

Mr. Hou Yi, President
of Freshippo, said, “Freshippo is committed to enriching the shopping
experience on its platform and bringing a new and unique experience to
consumers by introducing diversified retail brands or various restaurants as partners.”

 

Freshippo
is New Retail flagship under Alibaba Group. With fresh foods as the main
attraction, its physical retail stores focus on enhancing customer experience,
while delivery speed is the strong suit of its online business. It has built a
comprehensive commercial channel comprising “fresh food supermarket +
catering + App e-commerce + logistics” with a quick delivery cold chain
distribution system that guarantees deliveries within 30 minutes in a radius of
three kilometers around the store. As of 30 September 2019, there were 170
self-operated Freshippo stores in China.

About Li Bao Ge Group Limited (Stock code: 1869)

Li
Bao Ge Group Limited is a Chinese restaurant group recognised for delivering
Cantonese cuisine and Chinese banquet and dining services. The Group operated
five full-service restaurants in Hong Kong and three full-service restaurants
in Shenzhen in order to provide Cantonese cuisine under the brand name of
“Star of Canton (
利寶閣)”.
The Group also opened a Jingchuanhu cuisine restaurant in Hong Kong under a new
brand name of “Beijing House (
京香閣)”
and
established a Thai Restaurant, namely “La Maison D’Elephant (象屋)” in Shenzhen. All of the Group’s restaurants are strategically
situated in landmark shopping arcades or commercial complexes at prime
locations. The Group maintains a business philosophy of offering quality food
and services at reasonable prices under an elegant and comfortable dining
environment. T
he Group wishes to diversify
its restaurant business and customer base as well as to expand its market share
in the PRC.