HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.
All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.
Camera function - front and rear cameras
The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.
What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.
Battery life and storage space
Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.
In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.
Mobile phone technicalities
When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.
So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.
- First Half EBITDA surges 255% YoY to S$3.9m on the back of higher revenue and margin expansion
- Positive signs have emerged recently, indicating the sector downturn may be bottoming-out
SINGAPORE - Media OutReach - 14 May 2021 - Marco Polo Marine Ltd. (SGX:5LY) ("Marco Polo Marine" or the "Company", and together with its subsidiaries, "the Group"), a reputable regional integrated marine logistics company, today announced its financial results for the half year ended 31 March 2021 ("1HFY2021").
Marco Polo Marine reported a net attributable profit of S$5.9 million for 1HFY2021, compared to a 1HFY2020 net loss of S$0.7 million. Group revenue for the period gained 13.8% to S$21.1 million, from S$18.6 million in 1HFY2020, as sales from its Ship Building & Repair division surged 34.5% year-on-year.
1HFY2021 Financial Highlights
Y-o-Y % change
Gross Profit Margin
Net Profit / (Loss)
*Excludes foreign exchange losses (mainly unrealised in nature) and one-off gain arising from the acquisition of debt
Gross profit surged 47% to S$5.0 million in 1HFY2021 from S$3.4 million in 1HFY2020, with gross profit margin increasing to 24% in 1HFY2021 from 18% in 1HFY2020. This was mainly due to the absence of one-off reactivation costs incurred for its fleet of offshore vessels during the current period.
Excluding foreign exchange losses and the one-off gain from the acquisition of debt, the Group's earnings before interest, tax, depreciation and amortization (EBITDA) increased to S$3.9 million in 1HFY2021, from S$1.1 million in 1HFY2020.
Other operating income increased significantly to S$7.3 million in 1HFY2021 from S$2.4 million in 1HFY2020, following a S$6.2 million gain from the acquisition of debt (as announced by the Company on 13 October 2020).
The share of losses from jointly controlled companies decreased to approximately S$20,000 in 1HFY2021 from S$1.0 million in 1HFY2020. The share of losses was attributable to a lower utilisation of the vessel held by Pelayaran Era Sdn Bhd. The Group has ceased to recognise the share of results from its joint venture, PT Pelayaran Nasional Bina Buana Raya Tbk ("PT BBR") in the current period, since the losses to be recognised have exceeded the Company's cost of investment in PT BBR.
Y-o-Y % change
Ship Chartering Operations
Ship Building & Repair Operations
Revenue from the Group's Ship Chartering Operations fell by 5% to S$9.4 million in 1HFY2021 from S$9.9 million in 1HFY2020, mainly due to lower charter rates for the Group's fleet of tugboats and barges. Average utilisation rates for both its fleet of tugboats and barges as well as OSVs have remained comparable to that of the same period last year.
The Group's Ship Building & Repair Operations recorded a 34% rise in revenue to S$11.7 million in 1HFY2021 from S$8.7 million in 1HFY2020, mainly due to increased ship repair jobs during the period. Its Ship Building division has also commenced new projects in relation to the construction of two Smart Fish Farms, as announced by the Company on 17 August 2020, which led to the higher revenue.
The outlook for the offshore marine industry remains challenging, as the COVID-19 pandemic continues to crimp oil demand as well as oil and gas activities, resulting in a slowdown in the Group's ship chartering and shipyard operations. However, positive signs have emerged recently, indicating that the sector downturn may be bottoming-out gradually. The Group has also taken steps to capitalise on emerging opportunities in certain segments.
For the Group's ship chartering business, it will continue to step up marketing efforts to improve its performance and explore additional revenue sources by venturing beyond Southeast Asia, in particular, into the offshore windfarm renewable energy segment. The utilisation of its fleet of tugboats and barges is also expected to improve as construction activities in Singapore progressively resume. For the Group's shipyard division, it will continue to focus on securing ship repair and maintenance orders from regional ship owners.
Mr Sean Lee, Chief Executive Officer of Marco Polo Marine, commented: "Despite the industry's challenging backdrop, we were able to register a creditable performance for 1HFY2021, returning to profit from a net loss in the previous period. Our efforts to diversify into the renewables sector has started to bear fruit, and the Group will continue to focus on transitioning into green energy. "
About Marco Polo Marine
Listed on the Mainboard of the SGX-ST since 2007, Marco Polo Marine Ltd is a reputable regional integrated marine logistics company which principally engages in shipping and shipyard operations.
The Group's shipping business relates to the chartering of Offshore Supply Vessels ("OSVs") for deployment in the regional waters, including the Gulf of Thailand, Malaysia, Indonesia and Taiwan, as well as the chartering of tug boats and barges to customers, especially those which are engaged in the mining, commodities, construction, infrastructure and land reclamation industries.
Under its chartering operations, the Group has diversified its activities beyond the oil and gas industry to include the support of the construction of offshore windfarm projects. The burgeoning offshore wind energy industry in Asia is at a nascent stage where structures are in the process of being installed, which presents tremendous opportunities for the Group whose fleet is able to support the development of these projects.
The Group's shipyard business relates to ship building as well as the provision of ship maintenance, repair, outfitting and conversion services, which are carried out through its shipyard located in Batam, Indonesia. Occupying a total land area of approximately 34 hectares with a seafront of approximately 650 meters, the modern shipyard also houses three dry docks, which have boosted the Group's technical capabilities and service offerings to undertake projects involving mid-sized and sophisticated vessels.
For more information, please refer to our corporate website: www.marcopolomarine.com.sg
iBEAM to assess 450,000 building and sustainable development project data every year
HONG KONG SAR - Media OutReach - 13 May 2021 - BEAM Society Limited ("BSL") announces today the launch of iBEAM – the first-ever locally developed integrated green building cloud data platform in Hong Kong. iBEAM is capable of analysing 450,000 entries of project data related to built environment and sustainable development every year, which would turn into a data warehouse for the prediction of green building development trends and making visionary suggestions for implementing sustainable development in the industry. iBEAM also enables paperless assessment workflow through uploading all building data to a single cloud platform, which enhances transparency, security and integrity of the assessment process while reducing carbon emission, contributing to a greener built environment in Hong Kong.
Data warehouse advocates green building development, provides concrete solutions and creates benefits for the public
The rising awareness on environmental protection and sustainable development has drawn increasing public attention to the overall quality of the built environment. In 2010, "BEAM Plus", a leading, impartial assessment tool designed for the sustainability performance of buildings in Hong Kong was first launched by BSL. BEAM Plus assesses the sustainability of buildings during planning, design, construction, testing, commissioning, management, operation, and maintenance stages. Assessment results are recognised and certified by the Hong Kong Green Building Council. To date, BEAM Plus has certified green building developments encompassing over 18.6 million square metres of space, equivalent to over 2.5 square metres per capita. BEAM Plus is one of the most widely used voluntary green building labelling schemes of its kind in the world on a per capita basis.
Ms Ivy LEE Siu Wing, Chairperson of BSL, shares, "iBEAM will be the first-ever 24/7 project assessment submission platform in Hong Kong. It enables BSL to streamline BEAM Plus assessment process, enhances BEAM Pro experience and its efficiency, and upholds the core values of BSL – integrity, consistency and transparency.
iBEAM is a new generation platform that collects, manages, standardises, submits, reports, discloses and processes data related to built environment and sustainable development. Its major features include:
● Intelligent integration platform: With customisable user interface and settings, this platform enables project teams to share information and manage workflow. Where necessary, participating parties can download the data collected for other purposes such as submission of Environmental, Social and Corporate Governance (ESG) reports, and as benchmark data necessary for the application of green finance investments. In the long run, iBEAM will contribute to building a smarter, greener and more resilient city as envisioned in the HK2030+ and the Hong Kong Smart City Blueprint 2.0.
● Paperless cloud platform: After uploading the data to the cloud portal, project teams can update or retrieve them by logging in the portal round the clock anywhere. The platform also enables paperless e-form submission of data for archiving and real time processing at both multiple and centralised ends.
● Reliable and consistent security platform: After receiving data uploaded by project teams, the platform will automatically execute the approval process and match with assessors, raising the transparency, security and integrity of assessments. iBEAM also centralises and securely executes workflow, from data collection, approval, to online management of BEAM Plus assessment fee.
Mr LIU Chun San, JP, Under Secretary for Development, mentions, "BEAM Society, has been a close partner of the Government to promote green building environment ever since her establishment in the 1990s. The development and adoption of iBEAM is most welcome by the Development Bureau. iBEAM aligns with and supports our two major visions: to develop smart, green and resilient new towns; and Construction 2.0 in adopting innovation including digitalization technology for the construction industry."
Mr Frankie So, Chairperson of iBEAM Project Steering Committee, mentions, "We anticipate an annual uptake of 10,000 users and 200 building assessment applications after the launch of iBEAM, with growth in subsequent years. The system can process 450,000 entries of data from built environment and sustainable development projects every year, and analyse big data such as Green Building Attributes, Management, Site Aspects, Materials and Waste, Energy Use, Water Use, Indoor Environmental Quality, Innovations and Additions, Community Aspects and Outdoor Environmental Quality. It will empower a greener built environment in Hong Kong and create benefits for the public."
Consultations and experience workshops obtain recognition from the industry
BSL commenced the development of iBEAM in April 2020. 5 engagement talks were held throughout the development stage, garnering more than 1,100 industry participations and constructive feedback. Before the launch of iBEAM, BSL has organised the iBEAM Xperience Studio, an experiential workshop that engaged over 100 construction professionals and 14 consultancy firms in the industry.
Ms Ivy LEE adds, "iBEAM is a part of a bigger green building journey. Looking ahead, BSL will continue to work closely with the governments of the Greater Bay Area and Hong Kong, as well as our strategic partners, professional and educational institutes. Working hand in hand, we will create a sustainable and liveable environment for mankind."
Please click HERE to download the event photos
（From Left to Right）Mr. So Hung Fai, Frankie, Chairperson of iBEAM Project Steering Committee ,Ms. Guo Jianhua, Director of Department of Educational Scientific & Technological Affairs from the Liaison Office of the Central People's Government in Hong Kong SAR, Mr. Liu Chun San, JP, Under Secretary for Development, Ms. Lee Siu Wing, Ivy, Chairperson of BEAM Society Limited and Sr Prof Wong Bay, Past Chairman of HKGBC officiated at the "Beyond Green with iBEAM" Launch Ceremony.
Ms. Lee Siu Wing, Ivy, Chairperson of BEAM Society Limited said iBEAM is a part of a bigger green building journey. Looking ahead, BSL will continue to work closely with different parties to create a sustainable and liveable environment for mankind.
Mr. Liu Chun San, JP, Under Secretary for Development pointed out BEAM Society Limited has been a close partner of the Government to promote green building environment ever. The development and adoption of iBEAM is most welcome by the Development Bureau.
Mr. So Hung Fai, Frankie, Chairperson of iBEAM Project Steering Committee believed big data will empower a greener built environment in Hong Kong and create benefits for the public.
BEAM Society Limited today（13 May）announced the launch of a pioneering locally developed integrated green building cloud data platform in Hong Kong and the iBEAM launch ceremony was held virtually on the same day.
Group Photo of the Launch Ceremony
About BEAM Society Limited (BSL)
BEAM Society Limited (BSL) is a non-profit organization. Since the development of Building Environmental Assessment Method (BEAM) in 1996, and BEAM Plus in 2010, BSL has committed to administering and developing the BEAM Assessment Tools, offering impartial assessment on building sustainability and training BEAM practitioners - BEAM Professionals (BEAM Pro) and BEAM Affiliates. BSL has become a public body under the Prevention of Bribery Ordinance since 2016.
BSL has committed to improving the overall quality of the built environment in Hong Kong. BEAM assessment tools available include: BEAM Plus New Buildings, BEAM Plus Existing Buildings, BEAM Plus Interior and BEAM Plus Neighbourhood. They assess the impact of overall planning, design, construction and maintenance on the environment.
To get more information about BSL, please visit www.beamsociety.org.hk
Furthering our Commitment to Sustainability with Demonstrated Resilience under the Pandemic
HONG KONG SAR - Media OutReach - 13 May 2021 - Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) today published their online Sustainability Reports 2020. The reports highlight the steps and progress made to advance sustainability initiatives in the course of the year and continue the journey towards becoming one of the most sustainable real estate companies in the world.
Hang Lung Group and Hang Lung Properties publish their online Sustainability Reports 2020 featuring the sustainability framework and a set of 2030 sustainability goals and targets
Major initiatives and achievements during the year include: 1) measures implemented to protect the wellbeing of our employees, customers and communities – our topmost priority throughout the COVID-19 pandemic; 2) the launch of an enhanced sustainability framework that focuses on Climate Resilience, Resource Management, Wellbeing and Sustainable Transactions; 3) the establishment of a set of long-term sustainability goals and targets to be achieved by 2030, with 35 strategic environmental, social and governance (ESG) key performance indicators (KPIs) set for 2021; and 4) marked progress made on sustainable finance which accounted for 13% of total debts and available facilities at the end of 2020.
Mr. Weber Lo, Chief Executive Officer of Hang Lung Group and Hang Lung Properties, said, "I would like to thank all of my colleagues for their tenacity and dedication through such a challenging year in working as one team towards our sustainability goals. In response to the pandemic, multiple measures were adopted to provide our colleagues with support and safeguards against the risk of infection including a dedicated pandemic response team, provision of protective equipment, and the formalization of flexible work arrangements. Through our concerted efforts, we achieved zero infection for all personnel at Heartland 66 in Wuhan. In support of the communities in which we operate, we also donated RMB10 million to establish the Hang Lung Novel Coronavirus Relief Fund.
On our path to achieving sustainability leadership, ESG KPIs are established across the company, which are directly tied to our annual performance reviews and which embed sustainability principles and practices directly in our daily work. These initiatives reaffirm our commitment to instilling sustainable values, and mark important steps forward on our leadership journey."
Mr. Adriel Chan, Vice Chair of Hang Lung Group and Hang Lung Properties and the Chair of the Sustainability Steering Committee, said, "Despite the uncertainties and challenges of last year, we have made significant strides forward in our sustainability efforts. Our new expression of our Vision, Mission and Values – of which sustainability is an integral part – demonstrates our determination to embed sustainability throughout our business lifecycle for the long-term. While creating compelling spaces that enrich lives, we are also deepening our sense of responsibility to our communities and to future generations."
In addition to the key highlights and achievements mentioned above, other highlights include:
- The issuance, by the Boards of Directors of Hang Lung Group and Hang Lung Properties, of a Joint Statement on Oversight and Management of ESG Issue, elaborating on the Boards' ESG management approach and strategy, and their role in reviewing progress against ESG-related goals and targets
- The development of Hang Lung's Sustainability Policy, which provides clear guidance to employees on the pursuit of sustainability leadership, including the principles and processes for implementing relevant initiatives aligned with the sustainability framework
- Achieving a 21.5% reduction of electricity intensity by construction floor area compared to 2019
- Obtaining first LEED Platinum pre-certifications for two office towers at Westlake 66 in Hangzhou
- The donation of HK$25 million for a wide array of sustainable community investment programs
In 2020, Hang Lung Properties was included as a constituent of the Dow Jones Sustainability Asia Pacific Index for four consecutive years, received a three-star performance rating and an A-grade disclosure rating under GRESB for three consecutive years and was selected as a constituent of the Hang Seng Corporate Sustainability Index and the Hang Seng (Mainland and Hong Kong) Corporate Sustainability Index with an "AA-" rating or above for 11 consecutive years.
The Sustainability Reports 2020 of Hang Lung are now available for download at the links below:
Hang Lung Group
Hang Lung Properties
About Hang Lung Properties
Hang Lung Properties Limited (stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the "66" brand, the company's Mainland portfolio has established its leading position as the "Pulse of the City". Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.
At Hang Lung Properties – We Do It Well.
For more information, please visit www.hanglung.com.
Recognized for Completeness of Vision and Ability to Execute
HONG KONG SAR - Media OutReach - 13 May 2021 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced that it has been positioned by Gartner as a Leader in the Magic Quadrant for Endpoint Protection Platform for its offering, Trend Micro Apex One. The evaluation was based on specific criteria that analyzed the company's overall completeness of vision and ability to execute.
Trend Micro is continually innovating and anticipating emerging threats. Our flagship Apex One endpoint protection platform features broad coverage against today's most critical threats. Our customers are protected using a range of techniques including virtual patching, which immediately protects against exploits until the vendor patch is applied.
Read the full Magic Quadrant for Endpoint Protection Platform report at: https://resources.trendmicro.com/Gartner-Magic-Quadrant-Endpoints.html
"The endpoint has become a key battleground as determined threat actors try to take advantage of the pandemic to target distributed workforces and vulnerable remote access infrastructure. But throughout this difficult period, we've been there for our customers," said Wendy Moore, vice president of product marketing for Trend Micro. "I'm delighted to see us recognized again for doing what we do best: Protecting global organizations through innovative, cloud-first and platform-based security. We will continue to focus on offering simple, robust and industry-leading protection through our cybersecurity platform."
At the heart of the company's cybersecurity platform is Trend Micro Vision One, which delivers visibility and XDR using telemetry from Apex One in addition to email, servers, cloud workloads and networks for faster detections and investigations.
Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.
* Gartner disclaimer: Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Trend Micro
Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk
Positioned as a Leader for Fifth Year in a Row Based on Completeness of Vision and Ability to Execute
SINGAPORE - Media OutReach - 13 May 2021 - Workday (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources, today announced it has been positioned by Gartner, Inc. in the Leaders quadrant of the 2021 Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises* for the fifth year in a row based on completeness of vision and ability to execute.
The events of 2020 have caused many organizations to accelerate their finance digital transformation efforts. As a result, finance leaders are turning to Workday to help them plan, execute, and analyze all in one system. The company's broad portfolio of cloud finance offerings brings new levels of visibility and control that go beyond the boundaries of traditional ERP systems. Together Workday Financial Management, Workday Adaptive Planning, Workday Accounting Center, Workday Prism Analytics, and Workday Spend Management Sourcing deliver a deep and comprehensive solution for enterprise planning and analysis across all finance processes including record to report, report to forecast, contract to cash, and source to pay.
Relentless Focus on Customer Success and Innovation to Elevate the Office of the CFO
Workday continues to deliver on its vision for the office of the CFO to optimize organizational agility and deliver trusted insights to fuel the most effective operations. Its commitment to delivering exceptional customer value and continuous innovation is helping organizations from a diverse range of industries and sectors. With more than 1,000 Workday Financial Management customers and 5,500 Workday Adaptive Planning customers in more than 120 countries, Workday continues to drive global innovation fueled by machine learning (ML) and advanced analytics to allow customers to:
- Become decision-ready with an intelligent data foundation. Workday offers a unique architecture featuring an intelligent data foundation that helps finance teams harness the power of data by blending operational and transactional data into a single source. Workday Accounting Center, built on this data foundation, represents a fundamental change in the way finance teams manage operational data by dramatically simplifying the transformation of high-volume operational data into accounting. Machine learning is also embedded into the core data architecture to infuse intelligence into finance processes driven by Workday Financial Management, Workday Adaptive Planning and Workday Spend Management. These ML-powered applications allow customers to continuously detect journal line and plan entry anomalies, intelligently match customer payments to invoices, offer spend recommendations, and scan supplier invoices and expense receipts with optical character recognition to automate processing.
- Unify accounting and FP&A for greater agility: The ability to manage financial activity through the lens of FP&A has become increasingly important, especially given the unpredictability of the past 18 months. In the report, Gartner states, "This year, we have included FP&A capabilities in the evaluation where Cloud Core Financial Management vendors have brought them to market. FP&A is quickly becoming a point of differentiation for many vendors in the study and will continue to drive customer acquisition."*
Workday, positioned by Gartner in the Leaders quadrant of the 2020 Gartner Magic Quadrant for Cloud Financial Planning & Analysis**, offers deep integration from both a data and user experience (UX) perspective with Workday Financial Management and Workday Human Capital Management (HCM). Offered either as a standalone solution or combined with other Workday solutions, Workday Adaptive Planning allows FP&A to plan with greater accuracy and confidence, harnessing ML and predictive analytics at the core.
- Start with finance for digital acceleration. Replacing legacy systems over time is the best option for many organizations, particularly product-based industries. The Workday Enterprise Finance solution provides customers with the flexibility to adopt individual Workday solutions that coexist with current ERP systems or replace their entire financial software suite to accelerate their digital transformation, allowing customers to realize the benefits of cloud technology throughout the transition and at their own pace.
Consistent Customer Satisfaction
Workday aims to maintain a customer satisfaction rating of over 95% and achieved an industry-leading 97% customer satisfaction rating in its most recent customer satisfaction survey. Key factors in the consistently high customer satisfaction rating include the ability to understand customer needs, the quality of technical support, and the responsiveness of the Workday customer experience organization. Additionally, Gartner Peer Insights documents customer experience through verified ratings and peer reviews. As of May 12, 2021, Workday customer reviews include the following:
- "It is a great financial management and accounting tool with actionable business insights" — DAA in the Healthcare Industry [read full review]
- "[Workday] Adaptive Planning allows a CFO to respond to changing landscapes through data." — CFO & VP For Finance & Business Strategy in the Education Industry [read full review]
- "[Workday] has revolutionized the financial operations of our department because now we have [a] better breakdown of our finance and based on that we are in a better position to make better decisions that may impact our revenue in a positive way. It has been the best partner for our finance and operations team." — IT support in the Communications Industry [read full review]
- "Outstanding planning tool — best in class and ahead of competitors." — Senior Finance Director in the Healthcare Industry [read full review]
- "C Suite is equipped with relevant, contextual financial insights available from anywhere." — VP, Security & Risk, in the Finance Industry [read full review]
Comments on the News
"As an international organization, we need to be dynamic and easily adapt to changing market conditions," said Rob Bloor, group financial controller, EQ. "With Workday, our transaction and planning data are in the same system, and we're able to translate data into insight we need to make decisions. Having our accounting and planning teams work off of the same data set makes it possible for us to be continuously agile and confident in our decision making."
"We're thrilled Workday built machine learning into its core cash-to-pay application natively, creating a seamless extension to our accounts receivable process," Preeti Iyer, senior director, Finance & Order to Cash, Blue Yonder. "Workday has all of our data, and knows how we handle cash applications, and how we've applied payments in the past. This deep understanding gave us a huge leap forward, was more cost effective, and has helped us realize value faster as we continue to reduce time spent on our complex cash applications and move from 70 percent of our time spent on manual matches to just 20 percent."
"Workday has proven they are a modern cloud system that delivers continuous innovation to its customers and is a true partner for Shelter Insurance," Tina Workman, vice president of accounting and treasurer, Shelter Insurance. "We went live on Accounting Center last year and have since retired several legacy COBOL programs that had little visibility into creating accounting from operational systems. With Workday Accounting Center we have full transparency into detailed accounting creation from close to 75 files from policy, claims, and other systems, streamlining our accounting into one system and providing us with deeper insight into insurance product profitability."
"We believe the reason Gartner continues to recognize Workday as a Leader in Cloud Core Financial Management Suites is our deep customer commitment and relentless focus on innovation to help advance the Office of the CFO," said Terrance Wampler, general manager, Workday Financial Management. "For finance organizations, having proven solutions that support current and emerging finance processes provide a clear competitive advantage. With Workday, our customers can more easily distill actionable insights from all of their data, quickly remove friction from finance processes, and continuously plan to deliver the strategic business partnership that their organizations require from finance."
- Read the blog "Workday Named a 2021 Leader in Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises for Fifth Year in a Row"
- Get the report, "2021 Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises"
- See a demonstration of Workday Financial Management, Workday Accounting Center, and Workday Adaptive Planning
*Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises, John Van Decker, Greg Leiter, Robert Anderson, 10 May 2021
**Gartner Magic Quadrant for Cloud Financial Planning & Analysis, Robert Anderson, Greg Leiter, John Van Decker, 6 October 2020
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner Peer Insights reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Gartner or its affiliates.
Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics have been adopted by thousands of organizations around the world and across industries—from medium-sized businesses to more than 45 percent of the Fortune 500. For more information about Workday, visit workday.com.
Forward Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding the expected performance and benefits of Workday's and Workday Strategic Sourcing's offerings. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "seek," "plan," "project," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to, risks described in Workday's filings with the Securities and Exchange Commission ("SEC"), including Workday's Form 10-K for the fiscal year ended January 31, 2021 and future reports that may be filed with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's and Workday Strategic Sourcing's discretion and may not be delivered as planned or at all. Customers who purchase Workday and/or Workday Strategic Sourcing services should make their purchase decisions based upon services, features, and functions that are currently available.
- New rail-sea freight service will connect businesses in China with customers in the UK, and vice versa, in 18 to 20 days
- Goods departing from Xi'an, China will be transported by rail to Kaliningrad, Russia and sailed to Immingham, a major port on the east coast of England
SHANGHAI, CHINA - Media OutReach - 13 May 2021 - In the first half of 2020, China was the only country among UK's top five trading partners to achieve positive growth in bilateral goods trade, mainly due to a 17.2% increase in goods imported by the UK from China. To cater to the growth in UK-China trade, DHL Global Forwarding has launched a new rail-sea freight solution that will link businesses in China with customers in the UK, and vice versa, in 18 to 20 days. Compared to ocean freight that would typically take 40 days, the new service cuts transit time by more than half.
Since the start of the pandemic, rail has emerged as a popular alternative for shippers who balk at hefty air freight rates as a result of capacity shortage, and eschew long ocean freight transit time due to equipment and capacity shortages. Globally, the rail freight market is expected to see a compounded annual growth rate of 9.9% in 2021.
"The UK faced numerous trade challenges in the past year, having to navigate economic and trade uncertainties over Brexit and during the pandemic, whilst managing new UK-EU border regulations and processes at the dawn of the new Brexit era. As the UK economy starts picking up and China celebrates record growth in Q1 2021, trade between the two partners would be one to watch," said Kelvin Leung, CEO, DHL Global Forwarding Asia Pacific.
According to the DHL Global Connectedness Index 2020, China was ranked second by its share of the UK's international flows. In the first eight months of 2020, British exports to China rose by 10.7%, or £837 million (€982 million), even as the UK saw its overall exports fall by 25% for the same period. In 2019, the most sought after British goods in China were gold, petroleum and petroleum-related products, and vehicles, while telecommunications and office equipment, and electrical machinery and appliances were key Chinese exports that made their way to the UK.
Consolidating goods from across China at DHL's hub at Xi'an, China, the new service will transport the cargo by rail to Kaliningrad, Russia via Kazakhstan, Russia, Belarus, and Lithuania, and then transferred to Immingham by sea, where the UK import customs and final delivery of the cargo to the consignees are processed. The service is jointly developed by DHL Global Forwarding China, Xi'an International Inland Port Investment & Development Group Co. Ltd, RZD Logistics and RTSB Gmbh.
Steve Huang, CEO of DHL Global Forwarding Greater China, said, "Most China-UK multimodal routes often include Germany, Poland or the Netherlands as the midpoint for transfer from rail freight to sea or road freight. After Brexit, going by these routes would incur additional customs procedures and fees. The new service will potentially avoid seasonal congestion on the EU border, which in turn guarantees a more stable transit time."
Note to editors:
Ukraine's exports to China surged 63.3% year on year in 2019, as Sino-Ukrainian trade turnover hit a massive US$12.8 billion (€10.7 billion). Find out how DHL is supporting this growing trade partnership by establishing better rail connectivity between Europe and Asia.
DHL – The logistics company for the world
DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 400,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as "The logistics company for the world".
DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 66 billion euros in 2020. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve zero-emissions logistics by 2050.
Powerful Performance. Iconic Design
SHANGHAI, CHINA - Media OutReach - 12 May 2021 - today launched the all-new NOTE 10 series, a new portfolio of premium smartphones including the NOTE 10, NOTE 10 Pro and NOTE 10 Pro near-field communication (NFC). Showcasing a super fluid display, powerful MediaTek gaming processors, cutting-edge artificial intelligence (AI)-powered camera and optimized 5000mAh battery with fast-charge technology, the NOTE 10 series is crafted to enhance and optimize work and entertainment experiences for everyone.
"We know today's smartphone enthusiasts want a device that balances style with the latest innovative technology for a truly immersive experience," said Manfred Hong, Senior Product Director at Infinix. "The NOTE 10 series perfectly balances functionality; aesthetics, style, innovation, texture and color functionality, to create the ideal, all-around device for professionals, entertainment lovers and everyday users alike."
The iF Design 2021 award winning NOTE 10 Pro delivers a balance between the physical and virtual worlds, the calmness and serenity of Mother Nature and the modern geometric interiors and décor designs of luxury brands. The back panel is uniquely divided into two sections with the bottom half completely textured in juxtaposition with the glossy top. The design is available in four colors: 95° Black, 7° Purple, Emerald Green (exclusive to NOTE 10) and Nordic Secret (exclusive to NOTE 10 Pro).
A Stunning Visual Experience
The NOTE 10 series creates the perfect viewing experience with a 6.95" full high definition (FHD+) display, and a 91% screen-to-body ratio with 480 nits of peak brightness and 1500:1 color contrast ratio for sharp, crystal clear visuals. Graphics and images seamlessness glide due to the 90Hz refresh rate and 180Hz touch sampling rate, which is perfect for watching movies, scrolling content or gaming. Certified by TÜV Rheinland for low blue light, users will enjoy hours of use without suffering from eye fatigue and discomfort.
The NOTE 10 series delivers stunning professional-quality images and beautiful nightscape imagery, both in daylight and at night. To capture amazing selfies, the NOTE 10 series is equipped with a 16MP AI Beautify Selfie front-facing camera with two frontal flashes. The NOTE 10 Pro and NOTE 10 Pro NFC are loaded with an intuitive AI-powered four-in-one lens comprising 120° field of view (FOV) ultra-wide angle, super macro lens, 5P lens, black and white lens and portrait lens, which are all integrated into a rear-facing 64 megapixels (MP) 6P ultra night camera.
For ultra-smooth and effortless filming, the NOTE 10 series also offers 4K resolution shooting capabilities in both the front and rear cameras using leading video-enhancement algorithms from Imint's Vidhance Video Stabilization solution and auto-blur video shooting. Now, users can capture their breathtaking moments with confidence.
Packed with Power & Performance
For super-fast data processing and response times, the NOTE 10 Pro and NOTE 10 Pro NFC are powered by the award-winning MediaTek Helio G95 processor. Paired with MediaTek's HyperEngine Gaming Technology, users benefit from 50% faster response times, stronger connectivity and low latency reduction by utilizing two Wi-Fi bands or routers at the same time.
MediaTek Helio G95 gaming processor for NOTE 10 Pro and NOTE 10 Pro NFC, comprises:
- A octa-core central processing unit (CPU) with two powerful Arm Cortex-A76 processors cores clocked up to 2.05GHz, plus six Cortex-A55 efficiency-focused processors
- An Arm Mali-G76 MC4 graphics processing unit (GPU) with speeds that boost to 900MHz
- Memory storage of 256 GB and 8GB RAM
MediaTek Helio G85 gaming processor for the NOTE 10, contains:
- A 64-bit octa-core processor with two performance core ARM Cortex-A75 and six power-efficient core Cortex-A55 CPUs clocked at 2.0GHz and 1.8GHz respectively
- One of the fastest GPUs, the ARM Mali-G52 MC2 GPU, clocking at 1GHz
- Memory storage of 128 GB and 8 GB RAM (NOTE 10 Pro) & 6GB RAM (NOTE 10).
The NOTE 10 series features a range of upgraded and new innovative technologies and features, such as:
- A 5000mAh Battery and 33W Fast Charge Technology: The NOTE 10 Pro and NOTE 10 Pro NFC are fueled by a 5000mAh battery with 33W quick charge technology. The NOTE 10 offers user a 5000mAh battery with 18W quick charge. The batteries are integrated with Ultra Power Mode, providing an extra 58 hours of calling time when the battery reaches 5% capacity, 25% of battery backup with the Power Marathon Technology and safe fast-charge technology.
- UFS 2.2 Storage Technology: The NOTE 10 Pro and NOTE 10 Pro NFC offers a staggering 256GB storage capacity and delivers a maximum transfer of 5,830 Mb/s for reading and writing, improving the speed and multitasking capabilities for users.
- Dar-link Ultimate Game Booster: The NOTE 10 series incorporates Infinix's Dar-link Ultimate Game Booster optimization engine software, which works with the smartphone's hardware to improve graphic image stability and screen sensitivity. The software intelligently adjusts the operating speed of the CPUs and GPUs and allocates resources to improve images and movements in different gaming scenarios.
- DTS Audio and AI Noise Cancelling: Providing a surround sound quality with support for high-frequency game scenes, the NOTE 10 series are embedded with dual speakers, AI noise reduction sound technology, DTS audio processing and sound localization.
- Secure and Convenient Access Points: Users are able to access the NOTE 10 series with a side-mounted fingerprint and 3D face unlock capabilities.
- Android XOS 7.6: The Android XOS 7.6 software incorporated into the NOTE 10 series provides users with tools such as Xnote 5.0 to take notes and write down ideas, X-Proof to obscure the screen when using the phone in public and Thunder Back Mode 2.0 easily accommodates two apps simultaneously on the same screen
The NOTE 10 Pro will be priced at $259 & the NOTE 10 will be priced at $199. The series will be available in May and include variations based on customer and market demands. Prices may vary region to region.
Stay tuned to social media & website updates for rollout announcements.
Infinix Mobile is an emerging smartphone brand that designs, manufactures and markets an expanding portfolio of mobile devices worldwide under the Infinix brand which was founded in 2013. Targeting Generation Z, Infinix focuses on developing cutting-edge technology embodied in meticulously designed mobile devices that offer refined style, power and performance. Infinix devices are trendy, energetic, attainable & progressive with the end-user at the forefront of every step forward.
With "THE FUTURE IS NOW" as its brand essence, Infinix aims to empower today's youth to stand out from the crowd and show the world who they are & what they stand for.
The company's portfolio of products is sold in more than 40 countries around the world, covering Africa, Latin America, the Middle East, Southeast Asia, and South Asia. Expanding at a phenomenal rate, Infinix grew an unprecedented 160% during 2018-2020 and has huge plans to continue creating premium designed flagship-level devices offering striking designs and strong value propositions.
HONG KONG SAR - Media OutReach - 12 May 2021 - Summit Ascent Holdings Limited ("Summit Ascent", the "Group" or the "Company", HKEx: 102) is pleased to announce that the Group will be officially included as a constituent stock of MSCI Hong Kong Micro Cap Index. The inclusion of Summit Ascent enhances its reputation among institutional investors in the gaming sector. The inclusion will be effective after the close of the stock market on 27 May 2021.
MSCI is a leading provider of global equity indices worldwide. MSCI Hong Kong Micro Cap Index is one of the most widely used equity benchmarks among institutional investors to measure portfolio performances. The inclusion of the Group demonstrated that the Group has fulfilled a rigid matrix of evaluation based on multiple criteria of the index inclusion, including market capitalization size, liquidity screening, foreign inclusion factor requirement and minimum length of trading requirement.
Summit Ascent is a subsidiary of Suncity Group Holdings Limited ("Suncity", HKEx: 1383). Suncity is dedicated to help Summit Ascent's businesses as Suncity now owns approximately 70% of Summit Ascent. Summit Ascent owns approximately 77.5% of Tigre de Cristal, the largest integrated resort located in the Primorye Integrated Entertainment Zone of the Russian Far East. Despite challenging operating environment, Tigre de Cristal was already making a positive EBITDA in 2H 2020, while its mass and electronic gaming volumes have restored to 81% and 90% respectively of the pre-pandemic levels. Tigre de Cristal Phase II is on its way in 2023 where its gaming facilities will be doubled, and number of hotel rooms will be tripled.
In addition, Summit Ascent diversifies and participates in the development of another fast-growing gaming jurisdiction in Asia, the Philippines, through the investment of convertible bonds in a 51%-owned subsidiary of Suncity, Suntrust Home Developers, Inc. ("SunTrust"), where Summit Ascent may have the option to become a direct shareholder of SunTrust when the Westside City Project in the Philippines comes to fruition.
Mr. Andrew Lo, Deputy Chairman and Executive Director of Summit Ascent, said, "I cannot be more thrilled to see Summit Ascent to be included in the MSCI Index. It is not only a recognition from the capital market, but it is also an accreditation to the Group's development strategy. By being in the index, institutional investors could have an additional peace of mind that the company is growing in the right direction. Summit Ascent is undoubtedly a growth company that is worth the wait, as it will be equipped with Suncity's most valuable resources to fire up its developments."
About Summit Ascent Holdings Limited (HKEx stock code: 102)
Summit Ascent Holdings Limited ("Summit Ascent") is a subsidiary of Suncity Group Holdings Limited (HKEx stock code: 1383). Summit Ascent holds 77.5% in Tigre de Cristal, currently the largest integrated resort located in the Primorye Integrated Entertainment Zone of the Russian Far East. Situated midway from the Vladivostok International Airport to Vladivostok city, the administrative centre of the Russian Far East, Tigre de Cristal is ideally located geographically in the heart of Northeast Asia.
Summit Ascent holds a gaming license granted by the Russian government for an indefinite period, and Tigre de Cristal has opened for business since late 2015, offering a broad range of gaming options on a 24/7 basis. Tigre de Cristal has been certified as a five-star hotel with retail offerings, food and beverage outlets, private club, and named "Russia's Leading Resort" by World Travel Awards.
For more information about Summit Ascent, please visit https://www.saholdings.com.hk/eng/
MAZOR, ISRAEL - Groundwork BioAg - 12 May 2021 -
Accelerating Production Capacity to Meet Demand for Regenerative Agriculture Products
Serving One Million Acres (400 KHa) in 2021
Groundwork BioAg announced today it raised $11 million in venture capital financing led by Ibex Investors with the participation of ProDelta and Future Foodways. Previous investors, including MoreVC, Middleland Capital, Axess Ventures and BPD Agri, materially participated in the round. With this new funding, Groundwork BioAg will accelerate and expand production of its mycorrhizal platform to meet global demand for natural, sustainable solutions that increase agricultural productivity while preserving soil health.
Groundwork BioAg, a global bioagriculture technology company, produces highly effective mycorrhizal inoculants. Mycorrhizae are a cornerstone of regenerative agriculture best practices. In addition to increasing yields, these natural products reduce dependency on phosphorus fertilizer and improve carbon sequestration in soil. Through distribution partnerships in strategic markets across five continents, the company is helping farmers improve the efficiency of major crop production, including corn, soybeans, grains, bio-energy crops, fruits and vegetables, and cannabis.
"Over the past few years, we have focused on building production capacity to support millions of hectares and solidify our global presence in the main agricultural markets. With this investment and strong sales, we will be able to fulfill our mission to bring mycorrhiza – the queen of biologicals – to mainstream agriculture and help farmers succeed while protecting our planet," said Dr. Yossi Kofman, Co-Founder and CEO of Groundwork BioAg. "We look forward to working with our investors, strategic partners and distributors to continue bringing meaningful value to farmers around the world."
While naturally occurring in the Earth's soil, mycorrhizae and other beneficial microbes have been destroyed by modern farming practices, including tilling, pasteurization and over fertilization. Following years of research and product development, Groundwork BioAg is the first to crack the code on mass production of highly concentrated, cost-effective mycorrhizal inoculants that improve yield and soil health. The company's flagship products include Rootella® for commodity, organic and specialty crops, and DYNOMYCO® for cannabis.
Following record sales in both the 2019 and 2020 growing seasons, the company is rapidly scaling up production to meet demand expected in 2022 and beyond. Approximately one million acres (400 Kha) will benefit from the company's unique products in 2021.
Disruptive Technology VC Chooses Groundwork BioAg As First Investment in AgTech
"We are pleased to add Groundwork BioAg to our portfolio – not only because of its strong in-field performance and continued growth trajectory, but also because its technology provides the most compelling solution to increase yield while protecting our environment," said Gal Gitter, Managing Director of Ibex Investors focused on growth stage investments. "With its high efficacy and broad applicability, Groundwork BioAg can feasibly treat over one billion hectares, nearly all of the world's farmland, with these beneficial fungi."
Headquartered in Denver, Colorado with offices in Tel Aviv and New York, Ibex Investors is a multi-strategy investment firm targeting outsized returns through differentiated global strategies. Ibex invests internationally in Israel, which has the highest concentration of start-up companies outside Silicon Valley.
The funding demonstrates Groundwork BioAg's strong growth position and enables efforts to expand its platform technology and accelerate production capacity to meet global demand for regenerative agriculture products.
About Groundwork BioAg
Groundwork BioAg, a global bioagriculture company, leverages the natural power of mycorrhizal fungi to improve the productivity, sustainability and profitability of commercial agriculture and expand regenerative agriculture practices. Groundwork BioAg is the first to use innovative techniques to solve challenges inherent in high-volume mycorrhizal inoculant production. We will not rest until every hectare of arable land is protected by mycorrhizae and every farmer benefits from higher crop yields while preserving our soils. For more information, visit http://www.groundworkbioag.com
AgTech PR for Groundwork BioAg
View source version on newsdirect.com: https://newsdirect.com/news/groundwork-bioag-raises-11-million-to-advance-bioagriculture-globally-104733057
Highlights of FY2020/21 Results
- For the financial year ended 31 March 2021, total sales amounted to US$3,156 million – an increase of 3% compared to the prior year. Excluding the effects of foreign currency movements, underlying sales increased by 1%
- Gross profit totalled US$723 million – an increase of 8%
- EBITA, adjusted to exclude restructuring charges and significant non-cash and unusual items, increased by 18% to US$335 million or 10.6% of sales (compared to 9.3% of sales in FY2019/20)
- Net profit attributable to shareholders totalled US$212 million – compared to a net loss of US$494 million in the prior financial year which included a non-cash impairment charge against intangible assets of US$796 million
- Underlying net profit totalled US$251 million – an increase of 31%
- As of 31 March 2021, cash reserves amounted to US$539 million and the ratio of total debt to capital at year end was 16% (a decrease from 18% a year earlier)
HONG KONG SAR - Media OutReach - 12 May 2021 - Johnson Electric Holdings Limited ("Johnson Electric"), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2021.
Group sales for the 2020/21 financial year totaled US$3,156 million – an increase of 3% compared to the prior year. Excluding the effects of foreign currency movements, underlying sales increased by 1%. Net profit attributable to shareholders totalled US$212 million. Underlying net profit was US$251 million, an increase of 31% compared to the prior year.
The Automotive Products Group ("APG"), Johnson Electric's largest operating division, achieved sales of US$2,443 million. Excluding currency effects, APG's sales declined by 2%. This compares to a reduction in global light vehicle production volumes of approximately 8% over the same period.
APG continues to deliver results that exceed those of the automotive sector overall – even during cyclical periods of contraction – due to a product portfolio that is focused on the key long-term technology trends that are transforming the industry. These include innovative technologies that enable electrification, reduce emissions, enhance safety and comfort, and heat, cool or lubricate critical vehicle systems.
The strongest regional performance was in Asia, where APG increased sales by 15% in constant currency terms against a market where light vehicle production volumes grew by 2%. Asia was the only major region to achieve a growth in automotive industry volumes in the period due primarily to the fact that China bore the brunt of its pandemic-induced demand contraction in the fourth quarter of the prior financial year.
In contrast, the majority of automotive OEM assembly plants in Europe largely ceased operations in the period from late March to May 2020. Production resumed over the course of the summer and by autumn was matching the levels of the prior year. However, the industry's recovery was somewhat tempered towards the end of the financial year due to the resurgence of COVID-19 in some countries and by shortages of electronic components, especially semiconductors. For the financial year as a whole, European light vehicle production volumes declined by approximately 18%. Over the same period, APG's European sales in constant currency were down by 13%.
Automotive industry production and demand trends in North America over the period were broadly similar to those in Europe. APG's sales in the region declined by 8% in constant currency terms, compared to a 19% fall in North American light vehicle production over the same twelve month period.
The Industry Products Group ("IPG") achieved sales of US$713 million, which represented 23% of total Group sales. Excluding currency effects, IPG's sales increased by 12%. This very satisfactory performance reflected the contrasting fortunes of the diverse range of end markets served by IPG as the pandemic reshaped consumer behaviour and altered demand patterns.
For example, sales to product applications such as aerospace subsystems, vending machines, professional power tools and commercial printers all suffered as a direct result of the reduced activity in those end-markets caused by social distancing and COVID-19 containment measures. In contrast, IPG benefitted from a surge in the consumption of consumer goods because of a redirecting of spending away from travel and entertainment and towards more "home-centric" lifestyles. Product applications that saw a strong increase in sales for Johnson Electric's precision motors, motion subsystems, switches and solenoids included coffee machines, lawn and garden products, kitchen appliances, floor care equipment, inkjet printers, medical devices and healthcare products.
Gross Margins and Operating Profitability
The Group's gross profit rose by US$51 million to US$723 million, which as a percentage of sales represented an increase from 21.9% to 22.9%. This improvement was primarily due to the combination of volume growth, hedging contract gains, staff cost savings and COVID-19 related government subsidies, partly offset by increased depreciation, higher freight costs and pricing pressure.
A number of non-cash charges and gains, restructuring costs, and other unusual items distort year-on-year comparisons of the Group's reported operating profit. For the 2020/21 financial year, these included US$28 million in restructuring charges associated with the streamlining of the Group's manufacturing footprint in Europe and China and a US$91 million decrease in Other Income and Expenses. In addition, in the prior 2019/20 financial year, the Company recorded an impairment charge against goodwill and other intangible assets.
Earnings before interest, tax and amortization ("EBITA"), adjusted to exclude the effects of restructuring charges and non-cash and unusual items referred to above, amounted to US$335 million – compared to US$285 million in the prior year. Adjusted EBITA margins increased from 9.3% to 10.6%.
Underlying Net Profit and Financial Condition
Net profit attributable to shareholders totalled US$212 million or 23.6 US cents per share on a fully diluted basis. Underlying net profit was US$251 million, an increase of 31% compared to the prior year.
Free cash flow from operations totalled US$171 million – a decline of US$87 million. This decrease was almost entirely due to an expansion in working capital that occurred as business volumes recovered from the depressed levels reached during the first stages of the COVID-19 outbreak a year ago.
The overall financial condition and liquidity position of the Group remains robust. Total cash at year end amounted to US$539 million and debt stood at US$426 million. The ratio of total debt to capital at year end was 16% (a reduction from 18% a year earlier).
In view of the Company's financial performance over the course of the 2020/21 financial year and markedly improved macro-economic conditions, the Board has recommended a resumption in final dividend payments in the amount of 34 HK cents per share. Together with the interim dividend of 17 HK cents per share, this represents a total dividend of 51 HK cents per share, equivalent to 6.54 US cents per share. The final dividend will be payable in cash, with a scrip alternative where a 4% discount on the subscription price will be offered to shareholders who elect to subscribe for shares. Full details of the scrip dividend alternative will be set out in a circular to shareholders.
Chairman's Comments on the Annual Results and Outlook
Commenting on the annual results for the financial year 2020/21, Dr. Patrick Wang, Chairman and Chief Executive, said, "The past twelve months have been truly extraordinary for most people and most businesses in virtually every country worldwide. When I wrote to shareholders a year ago, the COVID-19 pandemic had forced many major economies into unprecedented government-mandated "lockdowns" and the timing and nature of an "exit" point was impossible to project."
"One year on – and after more than three million COVID-related deaths – the global pandemic is still far from over. However, the successful development of vaccines against the virus has at last provided the world with a credible path towards a lifting of restrictions and created rising expectations of a return to social and economic "normality"."
"For Johnson Electric, with manufacturing facilities in 18 countries on four continents, the financial year 2020/21 was a period of unique challenges that I am pleased to report the Company navigated with a good deal of success. After a particularly difficult first two months to the financial year, when large parts of our operations in Europe and the Americas were essentially shut down, a strong business recovery began to take hold in June 2020 and was sustained through to the end of the financial year in March 2021. It is a testament to Johnson Electric's diverse global customer base, sought-after technology and highly committed workforce, that the Company was able to deliver both sales and earnings improvements compared to the prior financial year."
Commenting on the outlook for the business, Dr. Patrick Wang, said, "The same factors that underpinned Johnson Electric's positive business trajectory in the second half of the past financial year have continued to support an encouraging start to FY2021/22. At the macro-economic level, these include the rebound in the global economy that is benefitting from unprecedented fiscal support from governments, and improving consumer sentiment as vaccines against COVID-19 become more widely available."
"For Johnson Electric, customer demand in both our automotive and industry products divisions remains strong. APG is gaining share in important thermal management, braking and transmission applications for new energy vehicles, as well as winning new business awards based on our compelling ability to serve global OEM customers in every major regional market. IPG also continues to experience robust demand from many end-product applications that have seen significant volume growth as a result of "stay at home" measures that remain in effect in a number of countries."
"Based on prevailing trading conditions and customer orders, the Group's sales growth in the current financial year is on track to exceed 10%. Margins, however, will face downward pressure if raw material price inflation stays at or exceeds its present level."
"There remain, of course, numerous uncertainties that could affect this outlook in the coming months. Among them, on the demand side, are whether a resurgence in the pandemic will negatively impact consumer sentiment, the effectiveness of government stimulus to provide a bridge until higher levels of vaccinations are achieved, and the uneven length of time that it may take for different economies to return to pre-pandemic levels of output and growth. On the supply side, global shortages of semiconductors and plastic resins, combined with other supply chain bottlenecks, are causing disruptions to OEM production lines that by some estimates could last well into the second half of calendar 2021."
"Nonetheless, it is reasonable to view the short to medium outlook with a much higher degree of optimism than was the case a year ago. I remain confident that Johnson Electric's prospects for sustainable growth and value creation are highly attractive in the longer term."
Note to Editors and Securities Analysts: The full text of the Annual Results announcement, including financial statements, is available through the Investor Relations section of company's website at www.johnsonelectric.com
About Johnson Electric Group
The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 22 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: www.johnsonelectric.com.
Forward Looking Statements
This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.
Words such as "outlook", "expects", "anticipates", "intends", "plans", "believe", "estimates", "projects", variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric's present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.
AMSTERDAM, NETHERLANDS / LONDON, UNITED KINGDOM - Media OutReach - 12 May 2021 - Airwallex, a leading global payments platform, is pleased to announce it has secured its Electronic Money Institution (EMI) licence from the Dutch Central Bank (De Nederlandsche Bank, DNB). The licence was granted on 30 April 2021, and gives Airwallex access to the European single market.
This latest approval adds to Airwallex's existing licences in its core markets, including the UK, United States, Australia, and Hong Kong. With its EU EMI licence, Airwallex will soon be able to offer an enhanced range of products and services to customers across Europe, bolstering its growth by offering businesses an end-to-end solution for FX, card issuing and online payments.
Jed Rose, General Manager of EMEA at Airwallex said, "We are delighted to have been granted an EMI licence by the DNB. This is a significant milestone for Airwallex as we look to deepen our presence in the European market and address the pain points faced by many businesses who are looking for a simpler, more convenient and transparent process to support their payments needs. We look forward to providing businesses in Europe with a full product stack to empower their growth."
Founded in 2015 in Melbourne, Airwallex has grown to become a global fintech platform that is supported by a team of over 650 employees across 12 global offices. Earlier this year, Airwallex announced an additional capital raise of US$100 million to further accelerate its global expansion, strengthening its capabilities through product innovation and new partnerships. In Europe, the company continues to invest in growth, with plans to double its 50-strong team by the end of the year and build out its presence in Amsterdam.
Airwallex is a global payments fintech with a purpose to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. With technology at its core, Airwallex has built a proprietary global financial infrastructure platform to help businesses transact, collect and pay in any foreign currency across 130+ countries and 50+ currencies, without the constraints of the traditional global financial system.
Airwallex has secured over US$500 million since it was established in Melbourne in 2015, and is backed by world-leading investors.Today, the business operates with a team of over 600 employees across 12 global offices. www.airwallex.com