Forte Oil Plc 9M’19 – Disposal gain continues to mask weak operating performance

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CardinalStone Research 

Forte Oil Plc (FO: TP N22.01 ) released its 9M’19 earnings result earlier today, announcing EPS of N4.03/share during the nine-month period (FY’19E: N4.88/share). 9M’19 performance was bolstered by gains from the disposal of assets and interest proceeds from longstanding PMS subsidy receivables. The company noted that proceeds from longstanding receivables were also supported by naira devaluation

Some positives:

  • Q3’19 turnover grew by 23.6% YoY, driven by revenue increases in fuels (+23.1% YoY) and lubricants (+29.0% YoY) segments. We attribute the sharp improvement in topline to FO’s increased retail footprint (+ 5.4% YTD increase in the number of retail stations)
  • Operational efficiency improved in Q3’19, evinced by the 10.7% decline in operating expenses. The contraction in personnel expenses (-23.5% YoY), as well as a significant dip in legal costs (-52.9% YoY), supported the performance on this front
  • Net Interest expense also declined by 47.1% YoY in Q3’19, as drawdown on trade finance and overdrafts slowed during the period. In addition, the company paid off all its borrowings (loans and import finance facilities) bar a medium-term loan which matures in 2021. Consequently, a net debt contracted to N2.9 billion in 9M’19 from N6.0 billion in FY’18.

Some concerns:

  • Q3’19 gross margin declined by 2.2 ppts YoY to 6.26% in Q3’19, reflecting cost pressures in the fuels business ( cost of sales to sales ratio: 96.1% in Q3’19 vs 92.9% in Q3’18). In our view, this reflects the impact of the reported increase in PMS depot price to N117/litre from N113/litre in 2018
  • Other income also declined by 42.1% YoY in Q3’19, as the firm recorded lower proceeds from freight and fuels storage service offerings. There was also no foreign exchange gain during the period (vs N92.5 million in Q3’18)

Please click here for the full result.

Standard Chartered says Q3 PBT jump 16% from a year ago

Standard Chartered PLC (the Group) today releases its results for the third quarter ended 30 September 2019. All figures are presented on an underlying basis and comparisons are made to the third quarter of 2018 unless otherwise stated. A reconciliation of restructuring and other items that have been excluded from underlying results.

“Our strategy of the last few years has progressively created a stronger and more resilient business as evidenced by a 16% increase in underlying profits in the third quarter. The continuing execution of that strategy remains our priority, enabling us to face the more challenging external environment confidently, determined to continuously enhance our service to our clients, our performance-oriented culture and our profitability.”

Progress year-to-date on strategic priorities

  • Deliver our network: income from corporate and institutional clients using our international network grew 7%
  • Grow our affluent business: income from Premium, Priority and Private Banking clients increased 5%
  • Optimise low-returning markets: aggregate profit in India, Indonesia, Korea and UAE improved 16%
  • Improve productivity: income per full-time employee increased 5%
  • Transform and disrupt with digital: key client digital adoption measures continued to improve
  • Drive sustainability: adopted Principles for Responsible Banking; issued Asia’s first sustainable deposit

Progress in 3Q’19 on the financial framework

 – Return on tangible equity up 160bps to 8.9%

o  Underlying profit before tax up 16% to $1.2bn

o  Statutory profit before tax up 4% to $1.1bn

Income up 7% to $4.0bn; up 8% on a constant currency basis

o  Broad-based growth across all segments and regions

o  Particularly strong performance in Corporate & Institutional Banking up 13% and Private Banking up 14%

o  Europe & Americas grew 19% and ASEAN & South Asia was up 13%

o  Income year-to-date up 3%; up 5% on a constant currency basis

Costs flat at $2.5bn; up 1% on a constant currency basis

o  Significantly positive income-to-cost jaws both in 3Q’19 and year-to-date

o  Costs in 2H’19 will be slightly higher than in 1H’19 due to investment phasing; so 4Q’19 will exceed 3Q’19

o  Costs in FY’19 excluding the UK bank levy are expected to grow below the rate of inflation

Capital

o  Completed $1bn buy-back: 116m shares acquired and cancelled reducing total issued share capital by 3.5%

o  Common equity tier 1 ratio remains within 13-14% target range at 13.5%: up 6bps since 30 June 2019

–  Changes to Pillar 2A and HK counter-cyclical buffers increased the CET1 requirement by 21bps to 10.2%

o  Risk-weighted assets (RWA) down $2bn since 30 June 2019 to $269bn

–  Credit risk RWA reduced by $2bn whilst total assets grew by 3% in the same period

–  RWA grew broadly in line with income year-to-date

Other 3Q’19 financial highlights

·      Pre-provision operating profit up 22% to $1.5bn

·      Asset quality remains stable despite higher credit impairment driven partly by IFRS 9 expected credit losses

o  Higher stage 3 credit impairment from a small number of unconnected corporate exposures

o  Stage 1 and 2 credit impairment of $54m compared to a net release of $35m in 3Q’18

·      Average interest-earning assets up 8% to $603bn; yield up 19bps to 3.28%

·      Average interest-bearing liabilities up 11% to $530bn; rate paid up 18bps to 1.96%

·      Net interest margin year-to-date flat at 1.58%

Outlook

We continue to focus on executing our strategy with the objective of delivering a 10% return on tangible equity by 2021 but there are growing headwinds from the combination of continuing geopolitical tensions and expectations of declining near-term global growth and interest rates.

MTN Nigeria records 28.9% profit growth in nine months, hits 61.6m subscribers

MTN Nigeria has seen its subscriber numbers grow by 0.1 million to 61.6 million. MTN’s revenue for the period is N856.4 billion as against N764.4 billion reported during the same period last year. This is indicative of a 12% increase.

Interestingly, the telco’s direct network operating costs for the period decreased by 21.7% to N177.9 billion, although the cost for employees’ benefits and advertising cost increased by 20.9% and 10.6%, respectively.

Further, figures released by the company shows that earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 39.3% to 460.1 billion Naira. On the other hand, capital expenditure rose by 39.5% to N154.1 billion.

Profit before tax also grew by 23.9% to N212 billion during the period under review as against N171 billion during the comparable period last year.

Profit for the period stood at N148.3 billion, a 28.9% increase compared to N115 billion reported by the company for the first three quarters of 2018.

Chief Executive Officer, Ferdi Moolman, commented on the financial performance saying that it is indicative of the company’s “resilience” despite “a challenging operating environment”. The company generated most of its revenue for the period through its voice and data services.

“We were required to undertake a SIM re-registration process, which resulted in a disconnection of around 0.6 million active subscribers; limiting base growth,” the company disclosed in its financial statement released on Thursday.

MTN anticipates further increase in voice, data revenue, says CEO Nevertheless, CEO Ferdi Moolman affirmed the company’s resilience in sustaining double-digit growth in a challenging environment.

“Our performance was very encouraging, demonstrating the resilience of our business despite a challenging operating environment. We sustained double-digit growth in service revenue led by growth in voice and data revenue,” he said.

Additionally, MTN stated that voice remained a key contributor to service revenue at 73.5%. This was as compared to 74.8% in the third quarter of 2018, supported by “relatively stable tariffs” among other things. Furthermore, data added 18.0% to operating revenue, up from 15% in the third quarter of the year.

MTN disclosed that the remaining quarter of the year would be focused on expanding the 4G network coverage. Also, the focus will go into increasing active data subscriber growth.

Meanwhile, the company anticipates that voice and data revenue will continue to grow on the back of subscriber growth and increasing demand for data services.

Nigerian Army Officer Gets Cured Of Spinal Cord Injury After 10 Years

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Among many testimonies from the massive beneficiaries of the Sam Zuga free medical treatment, a retired Army officer has received healings after suffering from 10years of spinal cord injury.

The Retired Army man testify to this massive healings during one of the free Medical treatment in Adamawa state.

Bishop Sam Zuga who was recently in Adamawa to organize the Sam Zuga free medical treatment and to minister the word of God to the people of Adamawa, during his ministration he received massive testimonies from the beneficiaries of the Sam Zuga free medical treatment.

Responding to the testimony of the retired Army man, Bishop Sam Zuga said:

“What injection cannot do, anointing can do. What chemistry cannot handle, God-mystery can handle. What physical eyes cannot locate, spiritual eyes can locate.

“I return all the glory to God Almighty”

Dangote Cement Plc’s Board has considered & agreed to recommend share buyback & reverse share split to its shareholders

Today, the Board of Directors of Dangote Cement Plc announces that it has considered and subject to obtaining detailed advice and regulatory approvals, will recommend to its shareholders for consideration, a proposal to consolidate its share capital, as well as a share buyback programme. The details of these actions are yet to be finalized and will be communicated at a later date.

Shareholders and potential investors are advised to exercise caution when dealing in the Company’s shares until a further announcement is made.

Sheen Cher Crowned Miss World Singapore 2019

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SINGAPORE – Media
OutReach
 – 30 October 2019 – Sheen Cher, who stands at a statuesque 1.76m, will be representing
Singapore in the Miss World 2019 Grand Final in London, United Kingdom this
December.

 

Sheen was named Miss World Singapore 2019 during the Miss World
Singapore 2019 Grand Coronation Night held at Mediacorp Studio. Completing the
winners are Rafillah Rapit (1st Princess), a final-year student at
the National University of Singapore majoring in Political Science and Janna
Tan (2nd Princess), a business analyst and a remarkable cancer
survivor. The other candidates who made it to the Top 5 are Trishala Nar Singh
and Kareena Kaur.

 

“I am very well-travelled because of my insatiable thirst for
knowledge. I studied abroad, gained exposure to the world and met different
people from all walks of life. I developed a keen interest to understand
people’s culture, ethnicity and am always so proud to share with others the
cultural diversity of Singapore,” said Sheen.

 

The 22-year-old beauty queen recently graduated with a bachelor’s
degree in entrepreneurship from Les Roches International School of Hotel
Management in Switzerland. While studying abroad for several years, she has
been actively involved in numerous charitable works in countries she lived in,
supporting underprivileged children and families.

 

Presented by Celebrity Group and Global Crypto Offering Exchange
(GCOX), Miss World Singapore is more than just a mainstream beauty pageant. It
is a beauty festival focusing on empowerment of young women and its Beauty With
A Purpose mission, inculcating good social values in the world today.

 

“The Miss World Singapore Organization has created an amazing platform
for all of us young women to be empowered to create positive change in our
society. I want to use this opportunity to reach out to children suffering from
brain tumours, to help raise awareness for those in need,” Sheen added.

 

Since 2018, Miss World Singapore has moved to a new frontier under
the leadership of a new licensee and National Director — Sean Wong, PBM, a renowned social entrepreneur and award-winning
singer-songwriter. A Singapore Honoree of the Ten Outstanding Young Persons Of
The World Award in 2012 and a recipient of the Spirit of Enterprise Award in
2006, Sean was recently conferred the prestigious Public Service Medal.

 

“In line with Miss World Organization Founder and Chairman Julia
Morley’s Beauty With A Purpose mission, we have been focusing our efforts on
providing opportunities for our beauty queens to serve the community and impact
the lives of others. Each contestant will submit a Beauty With A Purpose
project idea and our organization will support the best proposals with the
necessary resources and funds, so that these projects may be carried out to
help those in need. Sheen Cher is an outstanding young lady with the attributes
of elegance, compassion, empathy and grace to be an ambassador championing
meaningful social causes. I am certain we will have another exceptional year,
with her potentially making waves at the world final in London this December,” said
Sean Wong.

 

“Being
Miss World is one of the most demanding jobs, but it is also one of the most
rewarding. Visiting every continent in the world, her role as an ambassador for
Beauty with a Purpose is to raise money and focus attention on issues and
problems that affect women and children. The winner will require the ability to
translate all that she sees into words that can inspire others. She will need
stamina as her program requires great dedication and perseverance. She will
need a sense of humour in the most difficult times as she tries to bring hope
to those in need,” said Julia Morley.

 

The Beauty With A Purpose Charity Gala was held on 8 September 2019
at the Resorts World Sentosa Ballroom, organised by registered charity Sian
Chay Medical Institution in collaboration with Miss World Singapore, to raise
funds for the elderly and needy families in Singapore. The highly-anticipated event,
which was attended by 1,500 guests, was graced by Guest of Honour Mr Ong Ye
Kung, Minister for Education and Member of Parliament for Sembawang GRC, with Julia
Morley, reigning Miss World Vanessa Ponce de León and Miss World 2017 Manushi Chhillar as
special guests. The Miss World Singapore 2019 Top 14 Finalists participated in
a charity fashion show, dressed in ravishing casual chic outfits and stunning evening
gowns by famed celebrity couturiers Chen Kah Lee and Heng Nam Nam. Close to $3
million were raised and these donations were directed to the To’ Puan Dr. Tsao
Sui Lan Memorial Endowment Fund which provides free medical treatments to the underprivileged
families in Singapore.

 

The Contribution to World Peace Philanthropy Award was presented to
Julia Morley by Mr Ong Ye Kung and Chairman of Sian Chay Medical Institution Mr
Toh Soon Huat, JP, BBM, PVPA, in recognition
of her outstanding humanitarian works all around the world.

 

As the winner of Miss World Singapore 2019, Sheen bagged $10,000 in cash
and received over $20,000 worth of prizes, including a one-year artist
management contract, a one-month trip to London, plus products and services
sponsored by S Aesthetics Clinic, Zing Media, KKAHLEEInoe, Heng Nam Nam
Boutique, Jeric Salon, LT Pro, Mast Fitness, Elaine Heng Image Consultancy,
Vanessa Tan, STAND, Bellydance Extraordinaire, TKS N Sons and Teck Photo.

 

The esteemed judges for the national final included Sir Dr. Jeffrey
Lin (CEO and Co-Founder of GCOX), Adelyne Velvet (Managing Director of Celebrity
Group), Datin Sharel Ho (Managing Director of DeFred Jewellers), Jeric See
(Artistic Director of Jeric Salon), Chen Kah Lee (Co-Founder of Heng Nam Nam
Boutique), Dr. Sii Sik Liong (Director of S Aesthetics Clinic), Jamila Wang
(Founder of Bellydance Extraordinaire), Elaine Heng (Founder of Elaine Heng
Image Consultancy), Vanessa Tan (presenter, speaker and coach), Eilania Lee
(Founder of STAND), Teo Tee Hua (Director of TH Associates) and Vanessa Peh
(Miss World Singapore 2018).

 

Last year, Singaporean fashion entrepreneur and actress Vanessa Peh
represented Singapore as Miss  World
Singapore 2018 and advanced into Top 30 during the Miss World 2019 Grand Final
held at Sanya, China.

 

The annual Miss World Grand Final is aired live to approximately 180
countries yearly, attracting more than 1 billion viewers and consistently ranks
among the most watched live annual entertainment telecasts in the world.

 

The Miss World Singapore 2019 Grand Final is scheduled to be aired
on Channel 5 this November. The Miss World Singapore Organization is in
discussion with strategic partners to produce a Miss World Singapore 2020
reality television program in the coming year.

 

The auditions for Miss World Singapore 2020 will begin in January. For
more information, please
visit http://www.missworldsingapore.sg/.

Trend Micro Research Finds Growing Cyber Threats Targeting eSports Industry

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New report predicts escalating attacks by cybercriminals and players

 

HONG KONG, CHINA – Media OutReach – October 30, 2019 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, today
announced the findings of new research predicting multiple cyber threats to the
fast-growing electronic sports (eSports) sector. Though cybercriminals have
been targeting the gaming community since 2010, eSports players, gaming companies,
sponsors and viewers will be more at risk over the coming years from data
theft, ransomware, DDoS, hardware hacks and cybercrime-as-a-service.

 

The eSports industry has
grown rapidly in popularity over recent years and is projected to reach $1.7B in
revenue by 2021. It has also evolved to include a professional sporting league,
with stadiums selling out to host competitions and top players earning
millions. This growth is attractive for financially motivated criminals.

 

“If there’s one thing we
know about malicious actors, it’s that they follow the money. Trend Micro has
already observed financially motivated groups taking advantage of security gaps
to target the gaming industry for financial gain, and we expect the same in
eSports,” said Tony Lee, Head of Consulting for Hong Kong and Macau, Trend
Micro. “As eSports becomes a billion-dollar industry, it’s inevitable that
attackers will look to capitalize over the coming years. We predict the sector
will experience the same kind of attacks as the gaming industry, but on a much
larger scale, with financially motivated actors getting involved for monetary
and geopolitical reasons.”

 

Based on this research,
Trend Micro predicts cybercriminals will ramp up their efforts to make money
from ransomware aimed at sponsors and players, DDoS-for-hire services, breaches
of personal information (PII), services to illegally boost gaming scores, and
stolen gaming accounts. Weak password and authentication security, which is
already enabling widespread account takeover, will continue to play a role in
making these attacks possible.

 

The impacts from breaches,
ransomware, DDoS and other attacks on gaming companies and sponsors can be
severe, leading to damaged brand reputation and revenue loss. The servers used
by companies to host valuable gaming assets are a prime target for exploitation
by hackers.

 

To
protect these valuable assets, the eSports industry should leverage a
multi-layered defense system to protect servers and virtually patch known
vulnerabilities.

 

To read the full report, Cheats, Hacks, and Cyberattacks: Threats to
the eSports Industry in 2019 and Beyond
, please visit: https://www.trendmicro.com/vinfo/hk/security/news/cybercrime-and-digital-threats/cheats-hacks-and-cyberattacks-threats-to-the-esports-industry-in-2019-and-beyond.

About Trend Micro

Trend Micro
Incorporated, a global leader in cybersecurity solutions, helps to make the
world safe for exchanging digital information. Our innovative solutions for
consumers, businesses, and governments provide layered security for data
centers, cloud environments, networks, and endpoints. All our products work
together to seamlessly share threat intelligence and provide a connected threat
defense with centralized visibility and control, enabling better, faster
protection. With more than 6,000 employees in over 50 countries and the world’s
most advanced global threat intelligence, Trend Micro enables organizations to
secure their journey to the cloud. For more information, visit www.trendmicro.com.hk.

DFA Awards 2019 Winners Announcement

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A showcase of design excellence in Asia

 

HONG KONG, CHINA – Media OutReach – 30 October 2019 – DFA
Awards
2019 celebrates established and emerging designers that push
creative boundaries and pave the way for the Asian design industry. Creatives from
across the region entered their innovative design projects into the DFA Design for Asia Awards (DFAA) and talented
young designers also submitted their overseas plans to DFA Hong Kong Young Design Talent Award (DFA HKYDTA), part of the
five major DFA Awards programmes to recognise local and international design
professionals and experts.

 

Organised by The Hong Kong Design Centre (HKDC) with
Create Hong Kong (CreateHK) of the Hong Kong Special Administrative Region Government
as the lead sponsor, 211 DFA Design for
Asia Awards and 16 DFA Hong Kong Young Design Talent Award winners
will be recognised
at the Presentation Ceremony on Wednesday 4 December 2019 at the Hong Kong
Convention and Exhibition Centre. The Awards offers a stage to some of the most
dedicated talents, encouraging the growth of creative industry and providing a
platform to establish networks with influential designers and business leaders.

 

“We at Hong Kong Design Centre believe that design can
improve quality of life, promote social innovation and preserve cultural
heritage. It makes the built environment a better place to live, work and play.
The DFA Awards programme is one of the most prestigious and important awards in
the design industry. We are delighted to see talent from across the region
showcase their best work with an increase of 10% in DFAA submissions this year.
On the other hand, the DFA HKYDTA encouraging and nurturing reputable and
future talents are invaluable to the Hong Kong design community,” said
Professor Eric Yim, Chairman of the HKDC.

 

Quality design aids quality life

An acknowledgment of outstanding design in Asia, DFA Design for Asia Awards raises awareness
about the value of good design as an essential component in quality of life for
a betterment. Measured by four perspectives, namely, overall excellence, use of
technology, impact in Asia, as well as commercial and societal success, it
appreciates and celebrates the design that embodies Asian aesthetics, and
culture while bringing about new design trends.

 

In 2019, it received over 1,100 entries from 24 economies,
a reflection of the awards prestige and the growth of Asian design power. Japan
tops the leaderboard, followed by Mainland China and then HKSAR. Key design
themes that have naturally emerged include: Green is the new black —
highlighting sustainable products and apparel design; A sojourn for the senses
— using the five elements to create artistic installations to create
destinations of the future; Old is gold — revitalising traditional
craftsmanship showcasing how young creatives can keep local culture alive
through design; Design longevity — creations that last through generations; and
Design for an empathetic world — reconnecting people, nature and self through
design excellence.

 

The judging panel comprised of industry leaders and
experts recognised 211 design projects for their design excellence, including 9
Grand Awards, 1 Grand Award for Culture, 1 Grand Award for Sustainability, 1
Grand Award for Technology, 7 Grand Award with Special Mention and 192 Gold,
Silver, Bronze and Merit awards from four design disciplines — Apparel and
Accessory Design, Communication Design, Environmental Design, and Product and
Industrial Design — across a wide range of specialist categories.

Cultivating and nurturing young design talent in Asia

DFA Hong Kong Young Design Talent Award is granted to design practitioners or graduates contributing to Hong
Kong’s ever-expanding creative industry, aged 35 or below. This year, 13 of 16
awardees will receive a financial sponsorship amount up to HK$5,000,000 in
total for six-to-twelve-month overseas work attachment or study to further
stimulate design thinking.

 

Winners have showcased phenomenal talent across industries. Apparel and
accessory designers entered fashion capsule collections, SS19 collections in
fashion shows globally and international collaborations. Communication designers
highlighted their work including typography, visual identity, and graphics
merging with art. Product and Industrial designers shared a mix of homeware,
household appliances, professional and commercial products, information
technology, and leisure and entertainment product designs, from watering pots
to chairs, speakers to acoustic strings. Finally, environmental designers
continue blending of architectural and social responsibility, hinting at the
future of our built world.  

 

Design for Asia: DFA Awards 2019

An annual publication to celebrate the current year’s winners, and to
introduce the design philosophy and share views and comments on the trends and
the values of Design for Asia by the international panel of judges. The coffee
table book is available from December onwards at DFA Awards official website.

High-resolution images can be downloaded at:

http://www.hkdc.hk/download/awards/DFA2019_hi-res_image.zip

 

Full DFAA
& DFA HKYDTA winners list can be downloaded at:

http://www.hkdc.hk/download/awards/DFA2019_WinnerList.zip

 

DFA Awards 2019
events (4-7 December at Hong Kong Convention and Exhibition Centre):

 

4 Dec         Media to meet the winners

4 Dec         Presentation Ceremony of DFA Design for Asia Awards and DFA Hong Kong
Young Design Talent Award

4 Dec         BODW
Gala Dinner & Presentation Ceremony of DFA Lifetime Achievement Award, DFA
Design Leadership Award and DFA World’s Outstanding Chinese Designer

4-7 Dec     DFA Awards exhibition at
DesignInspire

About DFA Awards

In 2003, the Hong Kong Design Centre
has launched the DFA Awards to underpin the role of designers in society, to
celebrate design leadership and exemplary designs and projects with commercial
success or impact in Asia, as well as to recognise the rising force of emerging
designers in Hong Kong since 2005. The DFA Awards, through its five major award
programmes, has grown in its international influence in Asia.

 

DFA Lifetime Achievement Award (DFA LAA)

Signify the design community’s respect
for individuals who have made lifelong contributions to the design profession,
education, and the society, especially in Asia.

DFA Design Leadership Award (DFA DLA)

Recognise the business leaders or
companies who create exceptional and sustainable business success through
strategic and innovative use of Design.

DFA World’s Outstanding Chinese Designer (DFA WOCD)

Acknowledge the designers of Chinese
origin who have significant design achievement and international recognition.

DFA Design for Asia Awards

Commend a wide range of design that
embodies Asian aesthetics and culture, with influence to the design trends in
Asia and for Asia.

DFA Hong Kong Young Design Talent Award  (DFA HKYDTA)

Nurture the development of emerging
designers by providing a maximum financial sponsorship of HK$500,000 for
overseas work attachment or education.

 

Learn more about us at www.dfaawards.com

 

About Hong Kong Design
Centre

Hong Kong Design Centre (HKDC) is a non-governmental organisation, and
was founded in 2001 as a strategic partner of the HKSAR Government in
establishing Hong Kong as an international centre of design excellence in Asia.
Our public mission is to promote wider and strategic use of design and design
thinking to create business value and improve societal well-being, with the aim
of advancing Hong Kong as an international design centre in Asia.

 

HKDC’s flagship programmes include Business of Design Week (BODW; since
2002) — Asia’s leading annual event on design, innovation and brands; DFA
Awards (since 2003) — a well-recognised annual awards that celebrate
outstanding designs with Asian perspectives; and Knowledge of Design Week
(KODW; since 2006) — an annual thematic programme that gathers the global
design community to explore how design can solve complex challenges of our
society.

 

We also manage a Design Incubation Programme and Fashion Incubation
Programme (since 2012 and 2016) — 2-year programmes to nurture future design
and fashion entrepreneurs; and launched FASHION ASIA HONG KONG (since 2016) —
an initiative combining conversations, interactions and cultural exchanges to
position the city as an Asian hub for fashion trade and business development.

 

Learn more about us at www.hkdesigncentre.org

APO Productivity Databook 2019 released

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TOKYO,
JAPAN – Media OutReach – 30 October 2019 – The Asian
Productivity Organization (APO) released the APO Productivity Databook 2019, an annual analytical report on
recent and long-term productivity and economic performance in the Asia-Pacific.

The publication summarizes socioeconomic
and productivity growth, taking
into account the diverse stages and pace of development of member countries as
well as reference economies. For the second year, mid-term projections of
future economic and labor productivity gains in the Asia-Pacific through 2030
were developed to assist in setting updated targets.

Notable additions to the 2019 edition of
the publication include:

  • Highlights of the analyses in each
    chapter make them easier for policymakers to use.
  • 20 country profiles and five regional
    profiles are given with productivity indicators for APO members and other
    Asia-Pacific economies.
  • Total factor productivity estimates are
    improved with considerations of land capital and labor quality changes and
    expanded to cover a wider range of economies.

Examples of data include:

Productivity measurement based on official data
enables relevant comparisons of the quality of economic growth and productivity
gains achieved. It also supports the monitoring of national productivity
performance, which is at the core of public policy formulation. International
comparisons and analyses are the basis for evidence-based policy advisory
services offered by the APO to member countries.

The APO Productivity Databook 2019 can be downloaded free of charge from the link below:

https://www.apo-tokyo.org/publications/ebooks/apo-productivity-databook-2019/

The online APO Productivity Database 2019 and Asian
Economy and Productivity Map, a tool that provides comprehensive productivity
data on 30 Asian countries and benchmarks from multiple economic groups worldwide,
are also updated in the link below:

https://www.apo-tokyo.org/wedo/productivity-measurement/

Spice up Your Life: Star-Level Enjoyment With Top Spicy Food

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StarWorld Hotel Redefines the Height of Spiciness

 

HONG KONG, CHINA
– Media OutReach – October 30, 2019 – StarWorld Hotel enjoys the fame
as the first star-level entertainment hotel under Galaxy Entertainment Group, and is
a delicacy paradise converging
Hunan and Sichuan cuisine, continental
delights, authentic Cantonese options and delightful French desserts. Upholding
the philosophy of “A sensational medley of global
cuisines”, it devotes to an amazing culinary journey to customers. Recently,
the hotel launched the
exclusive time-limited Hot Menu themed “Spice up Your Life”, allowing foodies to have an awesome experience from top spicy delicacies.

Spice up Your Life: Star-Level Enjoyment With Top Spicy Food

 

Spiciness
gives thrilling taste to the tongue, makes gatherings more relaxing and
cheerful, and arouses our desire to challenge the limits. Spiciness adds a shining color to the whole culinary journey. With its legendary Hot Menu, StarWorld Hotel desires to
create a great dining experience for every customer.

 

Designed by Chef Chan
Chek Keong, the award-winning Executive Chinese Chef of StarWorld Hotel, this time-limit Hot Menu is served in Feng Wei Ju,
Jade de Jardin, Laurel and Sensations. Feng Wei Ju is the sole Hunan and Sichuan cuisine restaurant awarded with two Michelin stars for three consecutive years in the Hong
Kong-Macao area, and offers
authentic Hunan and Sichuan dishes. The 12 selected delicacies on the Hot Menu
every month, along with other Chinese cuisines,
have special appealingness to spicy food fans as they want to challenge and taste magic excitement on tip of the tongue. 

 

“We pursue flavors, thrills and a healthy-balance of
spicy taste,”
said Executive Chinese Chef of StarWorld Hotel, Chan Chek Keong. Therefore,
Chef Chan is meticulous on designing
each
dish in the Hot Menu, and creatively combines
traditional cooking methods with novel ideas and fresh ingredients in order to present
a new interpretation of spicy delicacies to customers.

 

For instance, the “Spicy Stewed
Assorted Delicacies” is a traditional Hunan main dish served
in high-end
banquets, involving a variety of ingredients and complex
cooking. It features hot soup based made with long
chilies, delicious flavor and rich nutrition, reflecting family
reunion and happiness.  

 

Spicy cuisines at StarWorld Hotel authentically and innovatively adopt fresh seafood into brand-new spicy dishes, initiating a fantastic taste experience for Macau people
who loves seafood. The unmissable dishes include Baked Abalone with Green
Peppercorns, Fried Phoenix Tail Shrimp with Dried Chili, Crushed Garlic and
Chili Mud Crab and Spicy Grouper with Pickled Chili.

 

The
top spicy delicacies highlight the perfect balance of spiciness and ingredients,
giving all spicy enthusiasts an unforgettabale experience with hot yet
acceptable food. Moreover, chilies and Sichuan peppers are well-known for benefits in lowering blood pressure and anti-thrombus.
Any spicy food
mania should embrace the hot challenge at StarWorld
Hotel!

 

The Hot Menu of StarWorld Hotel starts from October
1 to the end of 2019, creating a spicy life experience for each customer. Moreover,
Lan Qijin, the Master of Sichuan Cuisine and Chef
Chan Chek Keong will jointly unveil a special menu only for 3 weeks in
November to extend the legend of spiciness.

Download
HD pictures by following link: 

http://www.galaxymacaulibrary.com/gallery/20190925-StarWorld-Spice-Up-Your-Life/G0000PglJXi9EvSU/C00001i0.V.a_bpk

Password:galaxy

About StarWorld Hotel Macau

Within
short driving distance of Macau’s key ports of entry, StarWorld Hotel is
conveniently located in the heart of Macau’s dynamic entertainment district. It
is the first 5-star flagship hotel and casino of Galaxy Entertainment Group.
StarWorld Hotel is a world class hotel and entertainment complex with more than
500 luxury rooms and suites, 10 restaurants and bars, as well as more than 700
square meters of function space. StarWorld Hotel embodies Asian hospitality and
thoughtful service, offering world-class accommodation, entertainment, leisure
and dining facilities in one destination.

 

StarWorld
Hotel has always been popular with travellers from around the world and has
received numerous prestigious awards for its superior service and offerings.
StarWorld Hotel is hailed as a “Top Class Comfort Hotel” in the Michelin Guide
Hong Kong and Macau for six consecutive years and boasts an array of
award-winning restaurants. Among them is Feng Wei Ju which has been awarded two
Michelin stars by the Michelin Guide Hong Kong and Macau three years in a row.
It is the only Sichuan and Hunan restaurant in Macau to receive such honor.

With
outstanding entertainment, dining and hotel offerings, StarWorld Hotel is a
must-visit destination providing every guest with unparalleled excitement and
an unforgettable experience.

 

For
more information, please visit www.starworldmacau.com