KIARA BAY Masterplan by Lead8 Showcases Eco-Aware Township in Kuala Lumpur

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KUALA LUMPUR, MALAYSIA – Media OutReach – 31 October
2019 – Lead8, the international award-winning design firm, has
celebrated the launch of the KIARA BAY masterplan this month — joining UEM
Sunrise and Melati Ehsan Group for the official unveiling event in Kuala
Lumpur, Malaysia.

The 73-acre masterplan
development is poised to transform one of Kuala Lumpur’s earliest townships
into an inspiring eco-living destination. Located next to the popular Kepong
Metropolitan Park which covers 235 acres and nearby the historical 1357-acre
FRIM (Forest Research Institute of Malaysia), the new masterplan offers a
first-of-its-kind living experience in Malaysia’s capital.

“Our design has been
informed by the significance of this site in Kuala Lumpur. To be located along one
of the premier and most popular lake parks in the city is quite special. As
such, sustainability and liveability have been the two main drivers of our
masterplan — creating an eco-aware community which celebrates its
biodiversity,” said Meeta Patel, Co
Founder & Executive Director at Lead8.

Lead8’s masterplan seeks to
emulate the balance of city, nature and leisure and is comprised of three main
districts — The Waters, The Walk and The Village. Embracing the 140-acre lake
at the heart of the site, ‘The Waters’ district is defined by the landmark
towers which provide the visual reference points for the development and
sweeping views of the landscape.

The major leisure and
retail district featuring integrated office, hotel and serviced apartments sits
at the centre of the design. Known as ‘The Walk’, the area is the connective
point to the retail destination, MRR2 interchange, MRT link road and a ten
minute walk or three minute cycle to all parts of the township. Anchoring the
east of KIARA BAY is the compact community cluster known as ‘The Village’,
designed around a lively community park and fronted by a wellness centre,
retirement living, community retail hub and education facility.

By activating the lakefront
and interconnecting a series of retail, leisure and community spaces, the
masterplan seeks to maximise the pedestrian and cycle experience for visitors
and residents. Supporting healthier lifestyles, improving air quality and
reducing vehicular traffic demand, helps to elevate the long term liveability
and sustainability of KIARA BAY.

“Accessibility and sustainable mobility
were extremely important in the planning process for this development. These
design strategies help create a platform for liveable neighbourhoods and
inclusive communities as well ensure the complete offer of KIARA BAY, from
healthcare to education, culture, environment and technology, can thrive,” said
David Buffonge, Co Founder &
Executive Director at Lead8.

The design has been guided
by the EIU Global Liveability Index, Mercer Quality of Living Factors and the
UN Sustainable Development Goals emphasising sustainable cities and
communities. The design will be realised over the next decade, integrating with
the latest cellular network technology and becoming the home to a population of
more than 40,000 once complete.

KIARA BAY adds to Lead8’s
growing portfolio in Malaysia which also includes the award-winning 620ha
Gamuda Cove masterplan.

 

Project Details

  • Location: Kuala
    Lumpur, Malaysia
  • Client: UEM
    Sunrise, Melati Ehsan Group
  • Size – Site: 73
    acres
  • Masterplanner
    (All Phases): Lead8

Image Gallery

All images © Courtesy of UEM
Sunrise and Melati Ehsan Group
Further Imagery and High-Res Files Available on Request



KIARA BAY, Kuala Lumpur, Malaysia



KIARA BAY, Kuala Lumpur, Malaysia



KIARA BAY, Kuala Lumpur, Malaysia


About Lead8

Lead8
is an international design studio with award-winning expertise in architecture,
interiors, masterplanning, branding and graphic design. With a team of over
200, the firm works on projects in more than 40 cities around the world from
studios in Hong Kong, Singapore, Kuala Lumpur and London. Since its inception,
Lead8 has partnered with some of the world’s leading property developers,
owners and operators with a portfolio which includes SKYCITY and the renovation
of Terminal 1 at Hong Kong International Airport, MixC Shenzhen Bay, One
Bangkok and HarbourLoop Hong Kong.

www.lead8.com

Alliance Investments Announces Plans to Tokenize £500m of UK Real Estate

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Partners with tZERO, Tezos Foundation and Megalodon for First STO Project, River Pla-za, a Luxury Riverside Development in Central Manchester

 

HONG KONG, CHINA –
Media OutReach
– October 31, 2019 – UK-based Alliance Investments, a direct-to-developer real estate
investment company, today announced its plans to tokenize £500m of real estate
projects across the UK over the next several years. The first project of its
real estate tokenization plan is River Plaza, a 180-unit luxury residential
development that is located on the banks of River Irwell and directly opposite
of Castlefield in Manchester. In collaboration with tZERO, Tezos Foundation and
Megalodon, Alliance Investments’ River Plaza project is the UK’s first real
estate-backed security token offering (STO) and one of only a handful of real
estate STO’s worldwide. 

 

Alliance
Investments intends to tokenize at least £20m of the
value of River Plaza. The River Plaza STO will
be digitized using tZERO’s tokenization technology and Megalodon’s advisory
services and issued on the Tezos Blockchain. River Plaza’s security tokens will
provide investors with liquidity through tZERO’s secondary trading technology,
which powers the alternative trading system operated by PRO Securities, LLC, a
subsidiary of tZERO. The STO is expected to launch in Q1 of 2020. 

 

Alliance
Investments CIO Rani Zahr said, “Raising funds through an STO is more
efficient, cost-effective, autonomous and democratic than traditional
financing. We believe that we are at the forefront of a technological change
that can disrupt the current funding paradigm and we are delighted to partner
with two global players that are leading blockchain innovation, tZERO and The
Tezos Foundation, for our first STO.”

 

A real
estate-based STO is the process of issuing digitally-enhanced equity securities
in a holding company that owns the real estate asset. More generally, security
tokens can be structured to represent a variety of ownership and economic
interests in an underlying asset, such as equity in a company that owns the
asset, an interest in debt secured by the real estate, a stream of income based
on cash flows from the asset or an interest in the capital growth of an
off-plan project, to name a few. 

 

tZERO CEO
Saum Noursalehi said, “We firmly believe that digital
securities represented by security tokens are the future of how the world will
trade value. Tokenizing real estate will democratize access to this
traditionally exclusive asset class, and we are thrilled to partner with Alliance
Investments to advance our goal of tokenizing and trading all assets.”

 

Tezos
Foundation Board Member Hubertus Thonhauser stated, “We are impressed by
Alliance Investments’ entrepreneurial vision to redefine real estate ownership
and tZERO’s mission to make liquid assets available to a broad audience. It is
our mandate to power real world use cases of blockchain adoption with the most
advanced open source technology, and we are excited to work with Alliance and
tZERO to make this a reality.”

 

Megalodon
Managing Partner Esteban van Goor said, “We are glad to see a company like
Alliance Investments taking a lead in tokenizing its assets and are pleased to
advise them on their first STO.”

 

The £500m
of real estate projects will be tokenized over the next several years in all
parts of the UK with projects ranging from residential and student
accommodation to commercial and hospitality properties. 

 

The River
Plaza building is scheduled to complete in Q3 of 2022. For more information
about River Plaza, visit www.riverplazamanchester.com.

 

FinTech Start-Up BetterTradeOff Adds Former Standard Chartered CEO Karen Fawcett to its Board and Bolsters Executive Team as Business Ramps Up

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SINGAPORE
– Media OutReach – 31
October 2019 – BetterTradeOff, a Singapore-headquartered FinTech start-up, today
announced three prominent appointments as it ramps up capabilities for its life-planning
solution which is being used by some of the world’s leading financial
institutions, plus the planned rollout of a new direct to consumer proposition
“UP”.


Karen Fawcett joins BetterTradeOff as a Non-executive Director,
bringing valuable insight and strategic counsel to BTO’s senior management. Karen
is currently a Non-Executive Director of INSEAD and formerly Global CEO of
retail banking as well as Head of Brand and Marketing at Standard Chartered. Ms.
Fawcett has had an extremely broad, career across wholesale and retail banking,
global strategy plus brand and marketing. Prior to her career in banking, Ms.
Fawcett was a Partner with Booz Allen Hamilton specialising in financial
services in the Asia-Pacific region.


Shannon Cullum joins BetterTradeOff as Chief Marketing Officer,
bringing with him over 25 years of experience in the world of marketing and
communications, including nine as a CEO within leading multinational ad
networks Saatchi & Saatchi and MullenLowe. He has worked on more than a hundred multimedia brand
campaigns, spanning 30 plus countries and over 20 consumer categories. He joins
BetterTradeOff to lead development of the B2C brand proposition and spearhead
the consumer launch.


Alex Shiu has been appointed as Chief Product Officer. He joins BetterTradeOff
from Hotels.com where he was most recently Head of Strategy and Business
Development for Asia Pacific, leading commercial trading and long-range
strategic development of the brand in the Asia Pacific region. Alex is a
Silicon Valley and Asia Pacific eCommerce veteran with a wealth of experience across
major online marketplaces and globally scalable platform businesses, including
eBay, Yahoo!, Walmart eCommerce, Lazada and Expedia.

BTO currently provides the world’s leading financial
institutions with a collaborative platform that allows advisors to work
together with clients on a plan to finance and protect their dreams. The platform
combats the complexities of traditional financial planning, leveraging
real-time data and analytics to help advisors provide clients with a meaningful
and intuitive understanding of their current financial situation.

BetterTradeOff will soon launch a direct-to-consumer
version of its life-planning tool.

For
more information, please refer to this link:

https://www.dropbox.com/sh/xv6zb8k2ywc4zam/AACfXLpspkmRRrYxEcbyqt-xa?dl=0

KaHa Partners with JCube to Promote Health and Fitness

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SINGAPORE
– Media OutReach – 31 October 2019 – Singapore smart wearables IoT
platform company KaHa has announced a two-day roadshow on
the 2nd and 3rd of November in partnership with JCube, a mall participating in
the Health Promotion Board (HPB)’s Health Promoting Mall Programme.  As part of its ongoing efforts under
this programme to promote healthier lifestyles, JCube collaborates with KaHa to introduce rope jumping and its myriad
of benefits to mall visitors and convey the importance of exercise and physical
activity.  Guests
will also have the opportunity to try out Lifeflow, KaHa’s innovative
smart jump rope and take part in KaHa’s 1-Minute Challenge – the participant
with the highest number of skips will walk away with a set of Lifeflow.

“KaHa is delighted to host
these activities as a way to promote healthier habits and more active
lifestyles to people of all ages and levels of fitness.  Together with JCube, we are excited to let
consumers experience wearable technology, encourage self-monitoring, and
empower them to take charge of their own health,” said Pawan Gandhi, Founder
and CEO of KaHa.

With its existing health- and fitness-promoting mall
activities such as weekly K-Kardio workouts, JCube has always been more than
just a shopping mall. This partnership with KaHa exemplifies JCube’s commitment
to adding value for its patrons, as the mall believes in not only delivering
goods, but also delivering ‘good’. As a Health Promoting Mall, JCube is a
strong and influential advocate for a healthier and more active lifestyle, and
strives to create a tangible and positive health impact on its customers.

Offering tangible Health, Fitness, and Wellness
solutions

According to a 2018 report by the World Health
Organisation (WHO), 23% of adults and 81% of adolescents globally are not
sufficiently active, resulting in an increased risk of various serious diseases
including coronary heart disease and stroke, diabetes, hypertension, various
cancers such as colon and breast cancer, and even depression.

Cognizant of this growing public
health issue, KaHa has developed a range of wearable devices that will equip
users with more control over their health and fitness than ever before – made
possible by allowing them unfettered access to a treasure trove of health data.
Combining KaHa’s in-house COVE® technology and sleek, lightweight design for
all-day wearability, KaHa’s wearables provide the ability to monitor one’s
health and fitness conveniently. The less exercise-inclined will now have one
less excuse to skip a workout! 

Visitors of JCube will be able to check out some of
these wearable devices, all thoughtfully designed and built with the company’s proprietary
COVE® IoT platform.  With the user’s
health, fitness, and wellness in mind, these include a hybrid-display
smartwatch that monitors blood pressure and heart rate and a range of smart
fitness apparels and bands that make workouts both fun and provide the data one
needs to stay on top of his or her health. 
Engineered to empower users with practical and actionable solutions for
health, fitness, and overall wellness, the public will be able to touch, feel
and even try on these technologies at the roadshow.

Get Fit, Stay
Healthy

KaHa’s health and fitness solution encompasses a range
of tech features and functions across its various wearable offerings, including
Lifeflow, a smart jump rope with fitness tracking and health monitoring
capabilities; a blood pressure and heart rate monitoring watch; a smart fitness
T-shirt; and a fitness band. These feature-packed devices promote healthier
habits and empower the user with all the data and information he or she needs
in order to take charge of his or her health and fitness. 

These include features such as activity tracking
(including steps, distance travelled, and calories burnt), sedentary alert,
‘Nudges’ and reminders to encourage physical activity, ECG (electrocardiogram),
heart rate and blood pressure monitoring, as well as a means to contact a
doctor or the emergency services, if necessary. The latter, in particular,
ensures that KaHa’s smart wearables provide not only information on a user’s
health and fitness, but also a tangible, workable solution to a potential
health problem.  Furthermore, the devices function as a Fitness
Coach as they provide tailored training programmes for the individual based on
personal needs and goals — whether to shed a few kilograms or train for a
cross-country marathon.

KaHa also offers a solution for a common complaint
amongst the less fitness-inclined – the ‘problem’ of boredom in exercise.
KaHa’s COVE®-powered fitness band features an innovative Virtual Run function,
which provides the user an immersive, otherworldly experience, allowing one to
run through some of Singapore’s most famous attractions, such as along the
Singapore’s heralded F1 Marina Bay circuit. From navigating the leafy avenues
of Sentosa Cove to a beachside jog at Changi Beach, KaHa’s Virtual Run will
ensure that boring runs around the neighbourhood will be a thing of the past.

Unwind and Let
Loose

However, true wellness is not limited to physical health
and fitness. At KaHa, we are firm believers in the importance of a holistic
approach to wellness — particularly in today’s fast-paced, high-pressure
society.

To this end, KaHa has developed a wellness solution that
is the perfect complement to its health and fitness offerings. As part of
KaHa’s Stress & Fatigue Management strategy, its smart wearables employ
health monitoring functions such as ECG and heart rate monitoring to assess the
user’s stress levels. Taking it a step further, KaHa’s COVE®
technology will then recommend activities or actions in accordance with the
health data it has collected — providing the user with recommendations to visit
a spa or see a doctor, for instance. It doesn’t end there: COVE® will even recommend nearby spas and other Wellness
facilities to the user, allowing for easy and convenient access to relaxation
and retreat.

Exciting new
products on the horizon

Within the fourth quarter of 2019, KaHa is set to unveil
a new range of fitness wearables that promises to be more than just your
average smart device. Taking a holistic approach to health and wellness, they
leverage on KaHa’s cutting-edge COVE® platform to perform multifunctional
roles, all from a sleek, lightweight device on the wrist.

For more information, please visit coveiot.com.

High resolution images are available
here.

About KaHa

KaHa, a Singapore-based technology company,
has offices in Singapore, China, India and Switzerland. The company has
customers and partners around the world spanning across high-end luxury,
financial services, digital payment, jewellery and accessories, health and
wellness, OEM and smart apparel. COVE®, a registered brand of KaHa,
is a patented end-to-end IoT SMART wearables platform and provides a one-stop
solution for brands to bring exciting smart wearables to their customers, with
reduced go-to-market time and costs.

With
in-built Artificial Intelligence and Machine Learning algorithms, COVE®
provides innovative, exciting and personalized user experiences that are
specially designed with a range of consumer verticals in mind: Safety, Sports
& Fitness, Health & Wellness, Digital Payment, Smart Home and Special
Needs. The platform includes electronics design, printed circuit board
assembly, application framework for iOS and Android, cloud services, data
analytics and smart after-sales service tool. For more information, please
visit www.coveiot.com.

About JCube

JCube is a leisure & edutainment mall that offers mass appeal
dining, an exciting array of entertainment choices and enriching activities.
The urban destination of choice for many residents in the West of Singapore,
the four-storey mall is located at the heart of Jurong East Regional Centre and
a stone’s throw from Jurong East MRT Station & Bus Interchange. JCube holds
the distinction of being the first suburban mall to bring IMAX to cinema
audiences, and also boasts Singapore’s first and only Olympic-size ice rink.

A Palatable Pursuit – Lee Kum Kee Hosts its First-ever International Young Chef Chinese Culinary Challenge – Philippines Qualifiers in Manila

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MANILA, PHILIPPINES – Media
OutReach
 – 31 October
2019 – Young chefs, budding restaurateurs, and aspiring culinarians from across
the Philippines are set to put their skills to the test and rise to the top of
their game as they battle it out to earn the privilege of representing their
country for an international culinary contest. Lee Kum Kee, the inventor of oyster sauce and a globally renowned Chinese
sauce and condiment manufacturer, has invited local aspiring chefs to compete at the first
ever International Young Chef Chinese Culinary Challenge (IYCCCC) – Philippines
Qualifiers at Magsaysay Center for Hospitality and Culinary Arts in Manila
yesterday.

 

Since its inception in 2014, the IYCCCC has been a biennial contest
providing an international exchange platform for the Chinese culinary industry. It
encourages young chefs from the world to hone their skills and learn, while at
the same time, promoting the inheritance of Chinese culinary skills and
sustainable development of the Chinese culinary industry with the aim of
enhancing the international standard of Chinese cuisines.

 

Yesterday, a star-studded
judging panel, including Singaporean award-winning Chef Aaron Tan Kean Loon and
Chef James Antolin, President of LTB Philippines Chefs Association, selected two
winners from the Philippines Qualifiers. The talented contestants Chef Michael Lee and Chef Muhajiran
Ijiran lll will go on to the next level in the 4th IYCCCC in Hong
Kong next year, competing with around 50
aspiring young chefs from over 20 countries and regions for the international
championship. In the last contest, all three contestants from the
Philippines won bronze awards.

 

Mr. Leslie Lau, Managing Director – South Asia of Lee Kum Kee said, “With
the mission of ‘Promoting Chinese Culinary Culture Worldwide’, Lee Kum Kee is
committed to nurturing Chinese culinary talents worldwide. The IYCCCC is an
optimal platform for young Chinese chefs from around the world for culinary
exchange. In the 3rd IYCCCC, we had representatives from the
Philippines for the first time. This year, we are going even further to host the
first-ever Philippines Qualifiers. I wish the two talented winners all the
success in the finale in Hong Kong next year, representing the Philippines to
fight for the championship.”

Renowned for the invention of oyster sauce and its premium quality
with over 130 years of history, Lee Kum Kee, is one of the world’s most recognisable
names for Chinese sauces and condiments across the globe. Lee Kum
Kee first entered the Philippine market with Sysu International Inc as the sole
distributor back in the 1980s and has since been one of the trailblasers in the
industry, furthering its efforts
to promote Chinese culinary culture, and nurturing future local culinary
talents.

 

For more details, please visit www.LKK.com, follow Lee Kum Kee on Facebook (@LeeKumKeePh) and
use the hashtag #LeeKumKee.

Photos:

(Seated from
Left to Right) Ms. Sandy Cu, Product and Business Development Director of Sysu
International, Chef James Antolin, President of LTB Philippines Chefs
Association, Mr. Leslie Lau, Managing Director — South Asia of Lee Kum Kee, Singaporean award-winning
Chef Aaron Tan Kean Loon and Mr. Ryan Cruz, Business
Manager — Philippines of Lee Kum Kee, with all the contestants at the opening
ceremony of the competition

 

About Lee Kum Kee

Lee Kum Kee was established in 1888 by its founder Mr. Lee
Kum Sheung. With its sustainable development in 131 years, Lee Kum Kee has
become a well-known household name of Chinese sauces and condiments, as well as
an international brand and “a symbol of quality and trust”. Spanning over three
centuries, Lee Kum Kee is a globally renowned Chinese multinational corporation
offering over 200 choices of sauces and condiments to over 100 countries and
regions. Please visit www.LKK.com for further details.

About Lee Kum Kee
International Young Chef Chinese Culinary Challenge

Since its inception in 2014, the Lee Kum Kee International
Young Chef Chinese Culinary Challenge has been a biennial contest that
demonstrates the Group’s mission of promoting Chinese culinary culture
worldwide, setting an international platform for young Chinese culinary chefs
from around the world to hone their skills and exchange experiences with their
counterparts. 

Notable speakers to attend MIPIM Asia Summit 2019

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Staying ahead of the curve with insights on Asian industry trends

 

HONG KONG, CHINA – Media OutReach – 31 October
2019 – Despite Sino-U.S. trade
tensions, the future of the Asian property market remains promising and
lucrative, attracting capital from financial institutions all over the world. MIPIM Asia Summit sits at the intersection of
global, economic, societal and technological trends impacting the real estate
industry. Property magnates, investment experts and tech gurus are among the
top talents who will speak at MIPIM Asia 2019 on November 26-27.  

The MIPIM Asia Summit agenda gives a unique
opportunity to showcase the future of the built environment that will enable
economic growth, sustainable performance and community cohesion within the
region. More than 30 leading speakers will address the 950-strong audience over
the course of a packed two-day conference programme with an overarching theme
of “Engaging the Future of Asian
Markets”.


The summit aims to highlight Asia Pacific inbound
and outbound investment flows, regional development opportunities and retail
real estate trends through a list of key industry luminaries of the Asian
property industry. Dr. Y K Pang, Chairman of the Hong Kong Tourism Board, will
inaugurate MIPIM Asia 2019 with a speech on Nov 26 at the opening ceremony. Ms.
Isabel Fan, Regional Director of Tesla, and Gloria Siu, Assistant General
Manager of K11 Concepts Ltd., will shed light on how the retail sector is
diversifying into mixed-use schemes to improve customer experience.

Stanley Ching, Senior Managing Director of CITIC
Capital Holdings Limited, and Christopher Lee, Managing Director & Head of
Corporate Ratings, Asia Pacific, S&P Global Ratings, are amongst the many
prominent speakers. They will weigh in on investment strategies in the Greater
Bay Area and the trajectory of China’s Belt and Road Initiative.

Regional heavyweights such as Mr. Justin Chiu from
Cheung Kong Property Holdings Limited and Mr. Kenneth Gaw, President and
Managing Principal of Gaw Capital Partners are hosting the highly anticipated
annual “Meet the Chairmen” seminar, encouraging open dialogue regarding the
future of Asia’s property markets. Ms. Vanessa Cheung, Group Managing Director
of Nan Fung Development, will also showcase how Nan Fung successfully
transformed from a textile manufacturer into a global conglomerate with
investment interests around the world.

All talks and seminars will take place at MIPIM
Asia’s conference venue, the Grand Hyatt Hong Kong, where more than 950
delegates from across the region are expected to gather for what is recognised
as APAC’s premier property conference and networking summit.

For additional information about the MIPIM Asia Summit and programme,
please visit here.

To register as press, please contact MIPIM Asia local PR partner.

Follow MIPIM:
Facebook Twitter LinkedIn

About MIPIM Asia Summit

MIPIM Asia Summit is the annual property leaders’ summit in Asia Pacific
organised by Reed MIDEM, is widely seen as a “must-attend” event for leading
industry professionals. It features expert-led conference sessions, premium
networking accelerators and an exclusive awards gala dinner over a two-day
period. Distinguished speakers, senior executives, high-level business
professionals and industry experts from around the world will discuss the
latest developments and prevailing trends in the property and retail industry.
MIPIM — the world’s property market – is the leading and largest global
property event. The four-day event takes place annually in Cannes every March.
26,800 delegates attended in 2019 with 6,380 investors, and 100 different
countries being represented.


About Reed MIDEM:

Founded in 1963, Reed MIDEM is an organiser of professional,
international markets that are essential business platforms for key players in
the sectors concerned. These sectors are MIPTV, MIPDOC, MIPCOM, MIPJUNIOR in
Cannes, MIP China in Hangzhou and MIP Cancun in Mexico for the television and
digital content industries; MIDEM in Cannes for music professionals; Esports
BAR in Cannes and in Miami for the esports business; MIPIM in Cannes, MIPIM UK
Summit in London, MIPIM Asia Summit in Hong Kong SAR, MIPIM PropTech NYC in New
York, MIPIM PropTech Europe in Paris, MIPIM PropTech Asia in Hong Kong SAR for
the tech and real estate industry; MAPIC in Cannes, MAPIC Russia in Moscow,
MAPIC Italy and MAPIC Food in Milan, and MAPIC India in Mumbai for the retail
real estate sector.
www.reedmidem.com


About Reed Exhibitions:

Reed Exhibitions is the world’s leading events organiser, with over 500
events in 30 countries. In 2018 Reed brought together over seven million event
participants from around the world generating billions of dollars in business.
Today Reed events are held throughout the Americas, Europe, the Middle East,
Asia Pacific and Africa and organised by 38 fully staffed offices. Reed
Exhibitions serves 43 industry sectors with trade and consumer events. It is
part of RELX Group, a global provider of information and analytics for
professional and business customers across industries. 
www.reedexpo.com


Global Smartphone Market Returns To Growth Of 2% In Q3

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The global smartphone market returned to growth in the third quarter, rising 2 percent to 366 million units shipped, according to research from Strategy Analytics. This is the industry’s first positive growth for two years. Samsung maintained first position with 21 percent global market share, Huawei rose to a record 18 percent, and Apple took third place with a 12 percent market share.

The market researcher sees worldwide demand for smartphones recovering, due to strong price competition among vendors and new innovations such as larger screens and 5G connectivity.

Huawei showed the strongest growth among the top vendors, with shipments up 29 percent to 66.7 million, driven by growth on its home market. It’s market share rose by nearly 4 percent points year-on-year to 18.2 percent.

Samsung also showed growth, of 8 percent to 78.2 million units, thanks to strong demand for the Galaxy Note 10 and A series smartphones. Its global smartphone market share rose to 21.3 percent from 20.1 percent a year ago.

Apple remained in third place, despite a fall in iPhone shipments of 3 percent to an estimated 46.9 million. Strategy Analytics said Apple appears to be stabilizing, due to cheaper iPhone 11 pricing and healthier demand across Asia and the US. Apple’s market share dipped to 12.4 percent from 13.0 percent a year ago.

Xiaomi maintained the fourth place, capturing 8.8 percent of the global smartphone market, slightly down from a year ago. Xiaomi is losing ground in core markets of India and China, due to fierce competition from Huawei, Realme and others. Oppo took fifth place with a market share of 8.0 percent, slipping from 8.7 percent share a year ago, due to pressure from Huawei in China.

Volkswagen increases sales revenue and profit in nine months

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  • Group sales revenue up by 6.9 percent to EUR 186.6 billion
  • Operating profit before special items increased by EUR 1.5 billion to EUR 14.8 billion; improvements especially in the mix and EUR 0.5 billion from the fair value of derivatives
  • Operating profit up EUR 2.7 billion year-on-year at EUR 13.5 billion; negative special items of EUR -1.3 (-2.4) billion relating to the Diesel issue
  • Profit before tax rises to EUR 14.6 (12.5) billion
  • Automotive Division’s net cash flow at EUR 8.6 billion, EUR 5.1 billion higher than the low figure for the prior-year period; CAPEX ratio of 5.2 (5.3) percent
  • Net liquidity in the Automotive Division of EUR 19.8 billion; negative effect of EUR 5.3 billion on reported net liquidity due to the application of the new IFRS 16
  • CFO Frank Witter: “The Volkswagen Group achieves a good performance amid a challenging market environment.”

In the first nine months of the current financial year, the Volkswagen Group continued to perform well in a difficult market environment. Between January and September, sales revenue grew by 6.9 percent year-on-year to EUR 186.6 (174.6) billion. Operating profit before special items increased significantly by 11.2 percent to EUR 14.8 (13.3) billion, mainly due to improvements in the mix and in the fair value on derivatives. The operating return on sales before special items stood at 7.9 (7.6) percent. Special items, which were due to legal risks in connection with the diesel issue, amounted to EUR -1.3 (-2.4) billion after nine months. Operating profit (after special items) improved by 24.5 percent to EUR 13.5 (10.9) billion, bringing the operating return on sales up to 7.3 (6.2) percent. Profit before tax rose by 16.9 percent to EUR 14.6 billion.

“The Volkswagen Group achieves a good performance amid a challenging market environment. The performance in the first nine months of the financial year makes us optimistic that we will achieve our full-year targets for 2019,” said Frank Witter, Member of the Board of Management of Volkswagen AG responsible for Finance and IT. “Continuous improvement in our profitability is key to mastering our ongoing transformation on our own. We will continue to work systematically towards this goal.”

Outlook for sales revenue and operating return on sales confirmed

Despite the gain in market share, the Volkswagen Group anticipates that vehicle markets will contract faster than previously anticipated in many regions of the world. In view of this situation, Volkswagen now expects deliveries to customers in 2019 to be on a level with the previous year. Up to now, a slight increase had been expected. The Group nevertheless confirms its forecasts for sales revenue and profit: the Volkswagen Group’s sales revenue will exceed the prior-year figure by as much as 5 percent. In terms of the Group’s operating profit before special items, an operating return on sales of between 6.5 and 7.5 percent is predicted. Including special items, the Group projects an operating return on sales at the lower end of the range announced.

Net liquidity in the Automotive Division affected by the transition to IFRS 16

Net liquidity in the Automotive Division stood at EUR 19.8 billion at the end of September, despite the negative impact of the initial application of the accounting standard IFRS 16 that amounted to EUR 5.3 billion. At the end of December 2018, net liquidity amounted to EUR 19.4 billion. Automotive Division’s net cash flow is at EUR 8.6 billion, thus EUR 5.1 billion higher than the low figure for the prior-year period. Amounting to EUR 10.7 billion for the first nine months, research and development costs were up 8.6 percent on the prior-year period, giving an R&D ratio of 6.8 (6.6) percent. Capex in the Automotive Division amounted to EUR 8.2 (7.9) billion. The ratio of CAPEX to sales revenue in the Automotive Division therefore fell slightly to 5.2 (5.3) percent.

Brands and business areas

The Volkswagen Passenger Cars brand sold 2.8 (2.8) million vehicles in the first nine months of this year. Higher demand was recorded in particular for the T-Roc, Tiguan, Touareg and Atlas models. The new T-Cross was very well received by the market. Sales revenue increased by 4.7 percent year-on-year to EUR 65.4 billion. Operating profit before special items climbed to EUR 3.2 (2.3) billion. Improvements particularly in the mix and price positioning compensated for lower sales of the models from Volkswagen Passenger Cars and negative exchange rate effects. The diesel issue resulted in special items of EUR -0.7 billion in the first nine months of the year.

The Audi brand sold 900 (1,107) thousand vehicles worldwide between January and September 2019. Sales revenue slipped to EUR 41.3 (44.3) billion, particularly due to the reallocation of multi-brand importers within the Group. Negative effects resulting from WLTP-related lower volumes, model launches and phase-outs, higher upfront expenditure for new products and technologies as well as personnel cost increases reduced operating profit to EUR 3.2 (3.7) billion. Improvements in the mix and product costs had a positive impact. The financial key performance indicators for the Audi brand include Lamborghini and Ducati.

The ŠKODA brand lifted its unit sales to 805 thousand vehicles in the reporting period, 15.3 percent more than a year before. Sales revenue was up 17.6 percent on the prior-year period at EUR 14.8 billion. At EUR 1.2 billion, operating profit was EUR 92 million higher than in the previous year. Volume increases, mix optimizations and pricing measures more than compensated for negative effects resulting from cost increases, exchange rates and higher upfront expenditure for new products.

The SEAT brand sold 517 thousand vehicles in the first nine months of 2019, an increase of 11.8 percent on the previous year. At EUR 8.8 billion, sales revenue gained 14.0 percent on the good prior-year figure. Operating profit improved by 4.2 percent to EUR 248 million due to volume and mix effects. Meanwhile, cost increases had a negative impact.

The Bentley brand lifted its unit sales in the reporting period to 7,224 (6,654) vehicles. Sales revenue increased to EUR 1.3 (1.1) billion. Operating profit improved to EUR 65 (-137) million.

Porsche sold 205 thousand vehicles worldwide from January to September 2019, 7.7 percent more than in the prior-year period. Sales revenue amounted to EUR 18.7 (17.5) billion. At EUR 3.2 (3.2) billion, the operating result before special items was on a level with the previous year.

Global sales at Volkswagen Commercial Vehicles amounted to 344 (337) thousand vehicles in the first nine months of 2019. Sales revenue was up 2.1 percent on the prior-year period at EUR 8.8 billion. Higher fixed and development costs for new products reduced operating profit to EUR 497 million, a decrease of 20.9 percent.

Scania Vehicles and Services increased its unit sales during the reporting period to 76 (69) thousand vehicles. Sales revenue increased to EUR 10.4 (9.3) billion. Operating profit improved to EUR 1.2 (0.9) billion. In addition to higher vehicles sales and stronger genuine parts and service business, improvements in the mix, as well as exchange rate effects, had a positive impact on profit.

MAN Commercial Vehicles sold 104 thousand units in the first three quarters of this year, exceeding the prior-year figure by 6.8 percent. Sales revenue amounted to EUR 9.2 (8.6) billion. Operating profit showed an improvement on the previous year at EUR 297 (222) million.

Power Engineering generated sales revenue of EUR 2.9 (2.5) billion between January and September 2019. At EUR 91 (142) million, the operating result declined due to expenses and mix effects.

The operating profit of Volkswagen Financial Services improved by 6.2 per cent to EUR 2.0 billion in the first nine months of 2019, driven by growth in business and exchange rate effects.

Nigeria’s Deep Offshore Amended Regulation: A Positive Catalyst?

Recently, the Nigerian Senate finally approved the amendment to the Deep Offshore and Inland Basin Production Sharing Contract 1993 Act. For context, the Act was initially created to encourage investment in Nigeria’s offshore assets, by providing lower royalties, taxes and allowances. Meanwhile, the newly passed bill is centred on boosting government revenue, especially towards the implementation of the 2020 budget. Herein, we highlight some of our concerns below.

Notably, the royalty rates on production within the Inland Basin was reviewed downwards from 10.0% to 7.5% – a positive for oil firms operating in that region. However, while the previous bill assigned varying royalty rates that depends on the water depth (12.0% for areas from 201m–500m water depth, 8.0% for 501m-800m, 4% for 801m-1000m and 0.0% for below 1000m), the amended bill plans to assign a fixed rate of 10.0% for all oil fields below 200m. Also, the bill proposes an additional royalty rate based on price, such that when crude oil prices trade around $20/b – $60/b, it attracts to an incremental rate of
2.5%, while a price between $60 – $100 attracts an incremental royalty of 4.0%.

Bearing the above in mind, we believe this bill might discourage new investments, as well as delay Final Investment Decisions on pending offshore projects – with over 11 offshore oilfields yet to commence production. Considering the volatile nature of crude prices, we could see new capital inflows directed towards countries with better fiscal terms and less regulatory uncertainty.

United Capital Research

Lafarge Africa Appoints Lolu Alade Akinyemi As Chief Financial Officer

The Board of Lafarge Africa Plc hereby informs the Nigerian Stock Exchange and the general public of the appointment of Mr. Lolu Alade Akinyemi as the Chief Financial Officer with effect from the 1st of November 2019.

About Lolu Alade Akinyemi

Mr. Lolu Alade Akinyemi is a certified accountant and holds a Masters in Business Administration from the Edinburgh Business School, Scotland, UK, a BA (Hons) in Economics from Essex University, UK and a Project Management Certification, Prince2, UK. He was the Financial Accountant (1996-1997) Assistant Budget and Planning Manager (1997-2000) at Coca-Cola Nigeria Limited.

He was the Finance Manager (Group Office), Cocoa-Cola, Europe, Eurasia & Middle East Group, London (2001- 2005), Finance Manager (Africa Group), Coca Cola Africa, Windsor, UK (2005-2007), Head of Business Development, Strategy, New Business (2007-2009) and Head of Supply Chain & Operations, Coca-Cola Bottling Company, Accra-Ghana (2009-2010).

Prior to joining Lafarge in 2014, he was the Finance Director at PZ Cussons Nigeria Plc from 2010 to 2014. He was appointed as the Finance Director of Lafarge Africa Plc from 2014 to 2016. Lolu has over 20 years of work experience in the manufacturing industry and he is currently the Supply Chain Director for Lafarge Africa Plc.