Posted on

Guangxi University of Foreign Language signs Memorandum of Understanding with Hang Seng University of Hong Kong

HONG KONG, Dec 16, 2022 - (ACN Newswire via SEAPRWire.com) - Guangxi University of Foreign Languages ("GUFL") and The Hang Seng University of Hong Kong ("HSUHK") signed a Memorandum of Understanding ("MoU") on 30 November 2022. The MoU promotes a deeper cooperation between the two universities by integrating resources, academic strengths, research and other specialized academic fields. It also enhances the cultivation of top-notch multilingual talents with international perspectives that are needed to support the Greater Bay Area's future development. Additionally, it encourages graduates from the two universities to explore the tremendous market opportunities available within the ASEAN economies that are being fueled by the Belt and Road Initiative. Front row from left, Professor Gibert Fong (2nd), Professor Bradley R. Barnes (3rd), Ms. Wei Qian (4th), and Mr. Chow Ka Wo, Alex as well as other representatives took a group photo after the signing ceremony.Representatives who attended the online signing ceremony include Professor Gibert Fong, Dean from School of Translation & Foreign Languages of HSUHK, Professor Bradley R. Barnes, Dean from Business of School of HSUHK, Ms. Wei Qian, Executive Director, the chairlady of the Board and the chief executive officer of InnoEd Group Limited, Chairman and CEO, and Mr. Chow Ka Wo, Alex, Chief financial officer of InnoEd Group Limited. The MoU creates a unique collaborative arrangement that establishes exchange services between the two universities and enriches students learning experience. The student exchange program enables eligible students to enroll at the other's university in order to widen their academic exposure and enhance their international experience. Additionally, a faculty exchange program is being established to promote academic interaction and cooperation, as well as create a strong foundation to develop joint training programs, joint research programs, and share teaching curriculum. The two universities will promote academic cooperation and educational programs development by regular exchanges, mutual visits, academic interaction and cooperation between faculty and students. Futhermore, the universities will actively explore opportunities to cooperate in joint research projects, international conferences, seminars and other academic exchange activities to enhance their academic reputations, strengthen their education programs in related industries and promote mutual progress in teaching, research and other academic aspects.Expanding higher education's prospects through cooperation, cultivating talents with international perspectives GUFL's management stated that GUFL aims to cultivate talents with multiple language skills, practical business knowledge and international perspectives. GUFL is ideally positioned in Guangxi, a frontier and important window for exchanges and cooperation between China and the ASEAN countries. The university is using its geographical advantage to develop the necessary talent to support the development of the ASEAN region and Belt and Road Initiative. In contrast, HSUHK is based in Hong Kong, a renowned international city that plays an important role in the development of the Greater Bay Area. The university implements a unique "Liberal + Professional" education model that prioritizes teaching quality and students' all-round development to foster students realizing their full potential.Through the universities' exchange programs and cooperation, the Management believes that it will not only help expand cooperation between other universities in Mainland China and Hong Kong to develop similar academic exchange programs, joint research and other collaborations, but also promote students from the two places to gain a broader international perspective and contribute to the country's future development. The GUFL program will bolster students' knowledge of non-language majors while also developing their foreign language skills. This program embraces the school's educational philosophy of placing equal emphasis on language learning and professional education, while also enabling students to broaden their international perspective through attending HSUHK. Additionally, the cooperation provides an opportunity for HSUHK students to develop a second language, and learn about Southeast Asian culture. Essentially, the exchange program cultivates outstanding talents who can contribute to the deepening ASEAN economic cooperation and development. With unique teaching backgrounds and geographical advantages, the cooperation is expected to develop talents with international vision and promote the diversification and internationalization of the higher education industry in both Mainland China and Hong Kong.Pursing national policies to advance the Greater Bay Area developmentThe Central Committee of the Chinese Communist Party and the State Council issued its "Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area", which calls for building an education and talent highland in the Greater Bay Area. The outline includes cooperation among schools and universities, encouraging joint development of advantageous disciplines, laboratories and research centers, supporting the construction of an international education demonstration zone in the Greater Bay area, encouraging Hong Kong and Macao youths to study in Mainland China schools, promoting cooperation in various aspects of vocational education in Guangdong, Hong Kong and Macao, expanding cooperation between the Mainland China, Hong Kong and Macao universities, and supporting exchanges and cooperation among various vocational education training bases."This cooperation closely follows the Greater Bay Area development plan and is in line with the Greater Bay Area's talent cultivation policy. Both institutions will further explore innovative ways to strengthen students' academic progress through exchange programs and interactions between teachers and students, so as to empower the future development of the Greater Bay Area." The Management continued. Providing Hong Kong's needed multilingual talent, deepening and expanding the market opportunities in ASEAN region and the Belt and Road Initiative As the international city of the Greater Bay Area, Hong Kong has many permanent residents from ASEAN countries. The open economic system and position as an international financial, trade and shipping centre creates strong demand for multilingual talents. GUFL, as the only private undergraduate university of foreign languages in Guangxi, specializes in providing top quality language programs focusing on Southeast Asian languages. The university embraces the mission of "Established in Guangxi, Oriented towards China, Radiate to Southeast Asia" to meet the many evolving demands driven by local and regional socio-economic developments. The exchange programs and cooperation will not only help meet Hong Kong's demand for multilingual talents, but will also provide Hong Kong students with the opportunity to experience Guangxi and learn about Southeast Asia's diverse culture. This knowledge will be invaluable to developing career opportunities in the Asia Pacific region.The GUFL Management commented, "Signing the MoU with HSUHK opens up new prospects for the university and our students. The cooperation will enable us to cultivate more multilingual talents with an international perspective. Simultaneously, it enhances the relationship between two top universities, and further strengthens the communication between the Mainland China and Hong Kong in the field of higher education."Looking forward, Management expects to develop stronger professional and applied Southeast Asian language programs and cultivate more talents with a balanced emphasis on strengthening language skills and professional education, thereby promoting the integrated development of Guangxi and the ASEAN regions for building a strong highly educated society.About Guangxi University of Foreign LanguagesGuangxi University of Foreign Languages ("GUFL") is affiliated to the InnoEd Group Limited, who is the largest private foreign language higher education institution in China. GUFL is the largest private undergraduate education institution in Guangxi in terms of undergraduate enrolment in the 2020/2021 academic year, according to Frost & Sullivan. GUFL primarily offers bachelor's degree programmes and junior college diploma programmes. The curricula is designed with a distinct emphasis on the integration of language learning with professional education. It specializes in the education of Southeast Asian languages, including Thai, Vietnamese, Cambodian, Lao and Indonesian. Meanwhile, it offers 56 majors across six main academic disciplines, including literature, economics, management, education, arts and engineering.The two campuses of GUFL are situated in Nanning, Guangxi, the permanent site of the China-ASEAN Expo, and Fusui, Guangxi, National Nanning - ASEAN Economic Development Zone, being strategic locations in the development of free trade and economic cooperation between China and the ASEAN. GUFL has adopted the service-oriented positioning of "Established in Guangxi, Oriented towards the entire China, Radiate to the Southeast Asia" and has a mission to cultivate talent with niche language skills, practical knowledge and an international perspective to meet the evolving demands driven by local and regional socio-economic developments. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

Read More
Posted on

MHI Signs Statement of Cooperation with the State Government of South Australia on Development of Local Hydrogen Industry

TOKYO, Oct 13, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Heavy Industries, Ltd. (MHI) signed a Statement of Cooperation on October 10 with the State Government of South Australia aimed at accelerating development of the local hydrogen industry. By proposing diverse solutions incorporating its Groupwide products, technologies and services, MHI looks to collaborate with South Australia in the state's transition to clean energy and development of a hydrogen economy.The Statement of Cooperation was signed by The Hon Peter Malinauskas MP, Premier of South Australia, and MHI Senior Vice President Osamu Ono, who concurrently serves as Chief Regional Officer of both the Asia Pacific and India as well as President of Mitsubishi Heavy Industries Asia Pacific Pte. Ltd. Specifically, MHI will propose solutions in the following areas: growing a globally competitive hydrogen export sector through the development of a hydrogen export strategy and strategic partnerships; fostering advances in new technologies and new industrial opportunities through research partnerships; projects that accelerate the development of large-scale industrial decarbonization programs; and developing near-term Australian domestic markets through the establishment of a hydrogen ecosystem.On signing the Statement of Cooperation, The Hon Premier Malinauskas MP expressed his hopes for the newly agreed partnership: "This Statement of Cooperation is a commitment from the State Government and industry partners to work together to accelerate the development of South Australia's hydrogen economy. South Australia is open for business and we are ambitious about hydrogen."MHI Group, by contributing to the development of a hydrogen value chain and the acceleration of industrial decarbonization in South Australia, looks to assist in driving the state's economic development and realizing a sustainable society.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

Read More
Posted on

Myanmar Government Looks to Early Resumption of Development & Infrastructure Projects with China, Its Close Neighbour and Main Trading Partner

NAY PYI TAW, MM, Dec 22, 2021 - (ACN Newswire via SEAPRWire.com) - The Myanmar Government looks forward to re-start development projects and accelerate bilateral economic and technical cooperation with the People's Republic China (PRC), its largest trading following disruptions caused by the pandemic and recent social unrest.The Ministry of Information (MOI) and Ministry of Investment and Foreign Economic Relations (MIFER) said in a joint statement that Myanmar enjoys a special 'paukphaw' or kinship with its close neighbour and has received substantial economic and technical support from the PRC over 71 years of bilateral ties.Having achieved national stability in recent months, and with the health situation stabilizing after receiving substantial vaccines from the PRC, a major priority for Myanmar is to implement projects involving PRC development assistance, amounting to 3.8 billion renminbi (RMB).Myanmar's State Administration Council (SAC) has reviewed an original list of 97 projects that were proposed by the previous government in late 2020 in response to the PRC's offer of 4.0 billion RMB in development assistance to Myanmar. The offer was announced during President Xi Jinping's visit on 17-18 January 2020.Following the review, the SAC has consulted with various Ministries to revise the list so as to prioritise projects that can be effectively implemented and which are better suited to the current needs of Myanmar. The SAC also reviewed and revised 15 projects under a separate 200 million RMB PRC grant specifically dedicated for Rakhine State.The latter grant involves projects related to the environment and improving medical access and rural transport. Myanmar Government appreciates these corporate social responsibility initiatives by the PRC which will contribute to the success of the China-Myanmar Economic Corridor (CMEC).The CMEC includes road and rail infrastructure stretching 1,700 km from Kunming in China's Yunnan Province through several regions in Myanmar to Kyaukpyu along the Bay of Bengal. The site of a proposed Special Economic Zone (SEZ) Deep Sea Project, Kyaukpyu is of special significance for infrastructure-related and economic cooperation between the 2 countries.The Kyaukpyu SEZ is a priority project revised and shortlisted by SAC from a list of 33 bilateral agreements signed during President Xi's visit. Prior to 2020, China had agreed to provide grants totaling 4.9 billion RMB to Myanmar between 2014 to 2019. Over this period, 1 project has been completed, 12 are ongoing and 18 are at proposal stage, with a combined value of 6.01 billion RMB.Implementation of the revised list of PRC-funded development programmes and related projects in the coming months will enhance bilateral cooperation after nearly 2 years of disruption caused by the pandemic and domestic issues, the 2 Ministers said.They said the SAC is confident that bilateral cooperation to improve infrastructure, especially in less developed parts of the country, and to create jobs will be enhance economic recovery as Myanmar prepares for multi-party national elections which are scheduled to be held by August 2023.To further improve bilateral cooperation, the Central Bank of Myanmar (CBM) has agreed to a pilot project starting next year to accept the RMB as an official settlement currency for border trade.This settlement, which will substantially improve border trade especially for perishable goods such as fresh agriculture products, will be facilitated by 3 banks - Myanmar's state-owned Myanmar Economic Bank and the PRC's Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC). This decision follows the recent relaxation of travel restrictions at 2 Myanmar-PRC border checkpoints after COVID-19 infection rates were reduced nationwide.Myanmar's pandemic control has been greatly supported by vaccines donated by or procured from PRC pharmaceutical giants Sinovac and Sino Pharm. The Government remains on target to vaccinate at least 50% of Myanmar's population above the age of 18 by the end of this month. The majority of all vaccines used in Myanmar originate from the PRC.The 2 Ministers, on behalf of the Myanmar Government, also announced that:i) With the improved vaccination rates and national stability, Gross Domestic Product (GDP) in fiscal 2020-2021 (November-October) is expected to decline by a single-digit - much less severe than forecasts of some international economists. Myanmar Government expects GDP to record modest growth in 2021-2022.ii) The Health Ministry is assessing carefully new COVID-19 variants such as Omicron before relaxing travel protocols. Apart from helping to implement development and economic projects, the easing of travel lanes will also facilitate visitor arrivals from the PRC as Myanmar prepares to revive its tourism sector.iii) The Government has improved security and provided assistance to Chinese factories that suffered attacks by the People's Defensive Force which had waged a terror campaign against civilians. As such disturbances have declined sharply, the Government is confident that PRC investments to Myanmar will improve soon.Since the 1 February 2021 Proclamation to declare a state of, civil disobedience and terrorism activities carried out by the outlawed People's Defensive Force (PDF) have led to deaths of 198 administrative officials and at least 12 Buddhist monks and many injuries. The PDF has also destroyed roads and bridges, schools, government offices and telecommunication towers as well as branches or offices of state-owned and private banks."Myanmar has achieved national stability due to efficient handling by the security forces and the clear wish of the general population to resume normal economic and social activities. We are confident that the normalized situation will provide assurance to investors and lead to the improvement of bilateral cooperation with the PRC, a country that enjoys a long and trusted relationship with Myanmar," said Minister of Information, Mr Maung Ohn."Myanmar Government has recently reviewed development and economic projects involving the PRC. This review is to ensure effective implementation of development assistance that can address the current needs of the country. Myanmar Government will do its best to protect all foreign direct investments, including those from the PRC. We also look forward to increased border trade through RMB-kyat settlement," said Minister of Investment and Foreign Economic Relations, Mr Aung Naing Oo.- Issued by Ministry of Information and Ministry of Investment and Foreign Economic Relations, Union Government of Myanmar.- For more information, please contact mediacontact@e-information.gov.mm or myintkyawmoi@gmail.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

Read More
Posted on

Initiative to Enhance Cooperation of China and Central Asian Countries Concludes

LANZHOU, China, Oct 22, 2021 –  The 8th China-Central Asia Cooperation Forum was concluded in Lanzhou, capital of Northwest China’s Gansu Province on October 17, and a joint initiative was released, aiming at more profound and practical openness and cooperation among participators. With “Strengthen Solidarity and Cooperation for Building a Community of Security and Development” as its theme, the forum was co-hosted by the Good-Neighborliness, Friendship and Cooperation Committee of the Shanghai Cooperation Organization (SCO) and the People’s Government of Gansu Province. The Forum included four sub-forums covering topics including “China-Central Asia cooperation on China’s BDS” and “green development.” A themed exhibit on China’s BeiDou Navigation Satellite System (BDS), which can provide customized services according to the needs of different countries and industries, was also held during the event. Representatives from China and Central Asian countries including Kazakhstan, Tajikistan, Kyrgyzstan, Turkmenistan, and Uzbekistan, as well as international organizations, attended the forum online and in person. Secretary-General of the SCO Vladimir Norov said the China-Central Asia Cooperation Forum is an authoritative platform for extensive exchanges between China and Central Asian countries. It helps strengthen political interaction, and deepens the relationship between all parties in ensuring regional security, and in responding to current challenges and threats. It also promotes a mutually beneficial cooperation, especially with regards to economy and trade. “Under these conditions, cooperation in the health sector remains a priority. We propose to put environmental protection at the top of the agenda. We have actively participated in the development of the global agenda for sustainable development until 2030, and intend to achieve carbon neutrality by 2060,” said Alikhan Smailov, First Deputy Prime Minister of Kazakhstan. Tajikistan’s ambassador to China Saidzoda Zohir pointed out that despite the various challenges of the new era, China’s economy continues to grow, and this will have a positive impact on the joint construction of a healthy, green and digital Silk Road. The volume of Chinese investment and bilateral trade with Central Asian countries has been growing steadily for two decades in a row. The volume of accumulated direct Chinese investments in five countries of the region amounted to about $15 billion in 2020. “A new stage in the advancement of the Belt and Road may be the alignment “point” of China’s development programs with the national strategies of the Central Asian countries,” Saidzoda Zohir added. Source: Global Times Online Media Contact:Liu Gehua,E: Liugehuan@huanqiu.comWebsite: www.Huanqiu.com

Read More
Posted on

Hua and Sinopharm Announced Supply Chain Strategic Cooperation

SHANGHAI, CHINA, Sep 15, 2021 - (ACN Newswire via SEAPRWire.com) - On September 13, 2021, Hua Medicine (Shanghai) Ltd. (the "Hua Medicine", Stock Code: 2552.HK) has signed a supply chain strategic cooperation agreement with Sinopharm Group Co., Ltd. (the "Sinopharm", Stock Code: 1099). Under the agreement both companies will cooperate more closely in logistics warehousing, supply chain management and channel data analysis, and will jointly promote the commercialization of Hua Medicine's global first-in-class glucokinase activator (GKA), dorzagliatin, for its market launch in China. Dr. Li Chen, Founder and CEO of Hua Medicine, Ms. Wenjie Xu, Vice President of Commercial Strategy and Marketing, Mr. Yong Liu, President of Sinopharm, and Mr. Xudong Zhou, Vice President of Sinopharm attended the signing ceremony.The strategic cooperation with Sinopharm is an important step for Hua Medicine to accelerate the deployment of commercialization and the launch of dorzagliatin in the market. Benefiting from the advantages of both Hua Medicine's pharmaceutical innovation capability and Sinopharm's channel network, supply chain system and logistics resources, the cooperation will further enhance the accessibility of dorzagliatin including improving the access of medicine to patients and expanding channel coverage in the market, so as to benefit more Chinese patients and promote accurate treatment of diabetes with full life cycle management. At the same time, this cooperation will also fully align with the "Healthy China 2030" strategy. According to the agreement, Sinopharm will make use of its advantages such as its nation-wide channel network and supply chain resources in China to provide professional pharmaceutical logistics services for Hua Medicine. Hua Medicine will rely on Sinopharm's nation-wide drug distribution network to carry out in-depth cooperation in supply chain management. On this basis, both companies will expand the possibility of further cooperation in channel informatization and other aspects.Since last year, there have been several great news about the commercialization of Hua Medicine's new drug. In August 2020, Hua Medicine and Bayer AG, a global biopharmaceutical company and the leader in the field of diabetes treatment in China, established a strategic partnership to commercialize dorzagliatin in China.In September 2020, the Company obtained the drug manufacturing permit for dorzagliatin and completed the requisite work for its commercial production. In December 2020, the Company entered into a commercial production and supply agreement with Raybow Pharmaceutical, the subsidiary of Zhejiang Jiuzhou Pharmaceutical. In March 2021, Hua Medicine submitted New Drug Application (NDA) of the first glucokinase activator dorzagliatin for type 2 diabetes (T2D) patients, and this application has been accepted by the China National Medical Products Administration (NMPA) in April. In addition, Hua Medicine has established a manufacturing company to be based in the Shanghai Lingang Special Area to ensure adequate market supply for dorzagliatin.Sinopharm is a leading distributor and supply chain service provider of pharmaceuticals and healthcare products in China, with a leading position in both wholesale and retail pharmaceutical markets. Sinopharm has more than 1000 branches and subsidiaries, covering 31 provinces and 388 prefecture-level cities across the country. Sinopharm also has professional marketing teams and services, realizing the full coverage of medical logistics in urban and rural areas in the whole country."We are very pleased to become a strategic partner with Sinopharm. This is of great significance for Hua Medicine's commercialization efforts. At present, the number of patients with T2D in China has reached approximately 120 million, and diabetes treatment has become a major health challenge affecting the health of many Chinese nationals. In the past 10 years, Hua Medicine aims to cure diabetes and has transformed the scientific concept of "Repair the sensor, restore homeostasis, and treat the underlying cause of diabetes" into a breakthrough drug for T2D patients. We are looking forward to work closely with the leading pharmaceutical distribution companies like Sinopharm to form a strong network capacity in logistics and distribution, so as to bring the world's first new drug, dorzagliatin, to Chinese patients as soon as possible." said Dr. Li Chen, founder and CEO of Hua Medicine."We are very glad to witness the strategic cooperation between Sinopharm and Hua Medicine, opening a new chapter on our cooperation. Sinopharm always adhere to our company philosophy of "All for Health, Health for All". In recent years, Sinopharm continue to innovate and build up the new ecosystem of the smart pharmaceutical and supply chain, improving the efficiency of supply chain. As the largest wholesaler and retailer of pharmaceutical and medical devices and healthcare products, and a leading supply-chain service provider in China, there are great potentials for our cooperation with Hua Medicine." said Mr. Liu Yong, President of Sinopharm.About DorzagliatinDorzagliatin is an investigational first-in-class, dual-acting glucokinase activator, designed to control the progressive, degenerative nature of diabetes by restoring glucose homeostasis in patients with Type 2 diabetes. By addressing the defect of the glucose sensor function of glucokinase, dorzagliatin has the potential to restore the impaired insulin and GLP-1 secretion of patients with Type 2 diabetes and serve as a cornerstone therapy targeting the root cause of the disease. Two Phase III registration trials for dorzagliatin monotherapy and the combination of dorzagliatin and metformin have been completed in China, as well as studies on drug mechanism synergy with sitagliptin (DPP-4 inhibitor) and empagliflozin (SGLT-2 inhibitor). The Company has obtained the "Drug Manufacturing Permit" of dorzagliatin issued by the Shanghai Municipal Drug Administrative Bureau, and has submitted its NDA to the National Medical Products Administration, so as to realize the "First in Global, Start from China" mission objective for the benefit of diabetic patients worldwide.About Hua MedicineHua Medicine is a leading, innovative biotechnology company in China focused on developing novel therapies for diseases with unmet medical needs. Founded by an experienced group of entrepreneurs and international investment firms, Hua Medicine advanced a first-in-class oral drug for the treatment of T2DM into NDA stage and it has successfully completed two Phase III registration trials in China for dorzagliatin. The Company has initiated product life-cycle management studies of this novel diabetes therapy and advanced its use in personalized diabetes care. Hua Medicine is working closely with disease experts and regulatory agencies in China and across the world to advance diabetes care solutions for patients worldwide. Hua Medicine is listed on the Stock Exchange of Hong Kong Limited (stock code: 2552.HK)About Sinopharm GroupSinopharm Group was established in January 2003 and listed on The Stock Exchange of Hong Kong Limited (stock code: 01099. HK) in September 2009. It is a core subsidiary of China National Pharmaceutical Group Co., Ltd. and is the largest wholesaler and retailer of pharmaceutical and medical devices and healthcare products, and a leading supply-chain service provider in the PRC.For more informationHua MedicineWebsite: www.huamedicine.comInvestorsEmail: ir@huamedicine.comMediaEmail: pr@huamedicine.comPorda Havas International Finance Communications GroupMr. Bunny Lee +852 3150 6707 bunny.lee@pordahavas.comMs. Louisa Chen +86 75523807432 louisa.chen@pordahavas.comMs. Karen Chiu +852 3150 6726 karen.chiu@pordahavas.comMs. Winnie Tan +852 15915975512 winnie.tan@pordahavas.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

Read More
Posted on

VOLUNTARY ANNOUNCEMENT STRATEGIC COOPERATION INTENTION AGREEMENT

HONG KONG, Jun 7, 2021 - (ACN Newswire via SEAPRWire.com) - The Board is pleased to announce that on 2 June 2021, and the Company received the executed copy of the Strategic Cooperation Intention Agreement on 7 June 2021, (i) HMT; (ii) Shenzhen Tengshe; and (iii) BAce Fund LP, entered into the Strategic Cooperation Intention Agreement in relation to the cooperation between the Parties for the development in financial technology and third party payment business in Vietnam. THE STRATEGIC COOPERATION INTENTION AGREEMENTSet out below are the details of the Strategic Cooperation Intention Agreement.Date : 2 June 2021Parties:(i) Hong Kong Macau Technology Holding Limited, a wholly owned subsidiary of the Company; (ii) Shenzhen Tengshe Network Technology Company Limited*, a company established in the PRC; and(iii) BAce Fund LP, an Internet investment fund established by Ant Group (one of the controlling shareholders is Alibaba Group Holdings Co., Ltd.) and an internationally renowned investment institution.To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, Shenzhen Tengshe, BAce Fund LP and their respective ultimate beneficial owners are third parties independent of the Company and its connected persons (as defined in the Listing Rules).The Strategic Cooperation Intention Agreement is not and shall not constitute any agreement.In relation to any specific cooperation projects, the parties to the Strategic Cooperation Intention Agreement shall enter into a formal cooperation agreement based on cooperation needs.The cooperationPursuant to the Strategic Cooperation Intention Agreement, HMT is responsible for coordinating the commencement of financial technology with the Parties in Vietnam and the relationship between the Parties in the third-party payment project (including but not limited to the relevant business competent authorities in Vietnam) and business partners to ensure that all tasks can be carried out smoothly.Shenzhen Tengshe agrees to provide technical support in relation to the third-party payment and fintech businesses carried out by HMT and its partners in Vietnam.BAce Fund LP agrees to provide capital and technical input support for HMT and Shenzhen Tengshe to develop fintech, third-party payment and other businesses in Vietnam.INFORMATION OF SHENZHEN TENGSHEShenzhen Tengshe, an Independent Third Party, has a strong fintech team with relevant development experience. It is an integrated Internet service provider engaging in research and development and operation of online platform. It also has strong operating experience and technical participation in the field of third-party payment.INFORMATION OF BACE FUND LPBAce Fund LP, an Independent Third Party, is an Internet investment fund established by Ant Group and an internationally renowned investment institution. is a company dedicated to investing in early stage companies in emerging economies focusing on Southeast Asia whileAnt Group Co. Ltd is an innovative technology provider that commits to bringing inclusive benefits to the world and owns and operates a world-renowned third-party payment platform - Alipay.REASONS FOR ENTERING INTO THE STRATEGIC COOPERATION INTENTION AGREEMENTIn the past 20 years, Vietnam's economic growth rate has exceeded 5%, making it one of the fastest and most stable emerging countries in terms of economic growth. According to the relevant report of PWC, Vietnam's mobile payment growth rate is among the forefront of emerging market economies. Backbase, a digital banking company, predicts that by 2025, the scale of mobile payments in Vietnam is expected to grow by 400%. Due to the huge market of financial technology and related industries in Vietnam, the Directors are of the view that the entering into the Strategic Cooperation Intention Agreement allows the Company to participate into the financial technical business, including third party payment business, through cooperation in technical and capital field with Shenzhen Tengshe and BAce Fund LP and therefore it is in the interest of the Company and its shareholders as a whole.DEFINITIONSIn this announcement, the following expressions shall, unless the context requires otherwise, have the following meanings:"BAce Fund LP" BAce Fund LP, a fund established in the Cayman Islands which are beneficially owned as to 50% by BAce Holding Ltd. and 50% by Ant Group Co., Ltd."Board" the board of Directors"Company" Sino Prosper (Group) Holdings Limited, a company incorporated in the Cayman Islands with limited liability and the Shares are listed on the Stock Exchange"Director(s)" the director(s) of the Company"Group" the Company and its subsidiaries"HMT" Hong Kong Macau Technology Holding Limited, a wholly owned subsidiary of the Company"Hong Kong" the Hong Kong Special Administrative Region of the PRC"Independent Third Party(ies)" party(ies) who is (are) not connected person(s) of the Company and its subsidiaries and is (are) third party(ies) independent of the Company and connected persons of the Company"Listing Rules" the Rules Governing the Listing of Securities on the Stock Exchange"Parties" HMT, Shenzhen Tengshe and BAce Fund LP"PRC" the People's Republic of China"Shenzhen Tengshe" Shenzhen Tengshe Network Technology Company Limited*"Stock Exchange" The Stock Exchange of Hong Kong Limited"Strategic Cooperation Intention Agreement" the strategic cooperation intention agreement dated 2 June 2021 entered into between HMT, Shenzhen Tengshe and BAce Fund LP"Vietnam" the Socialist Republic of VietnamBy Order of the BoardSino Prosper (Group) Holdings LimitedLeung Ngai ManChairman and Executive DirectorHong Kong, 7 June 2021As at the date of this announcement, the executive Directors of the Company are Mr. Leung Ngai Man and Ms. Wong Li Fong, and the independent non-executive Directors of the Company are Mr. Miao Yanan, Mr. Cai Wei Lun and Mr. Zhang Qingkui.*For identification purpose only Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

Read More
Posted on

Singapore and US to deepen transport cooperation, work to revive air travel

SINGAPORE - Singapore and the United States will deepen bilateral cooperation in the transport sector, working together in areas such as reviving international air travel in a safe manner amid the Covid-19 pandemic. The two countries will also strengthen cooperation in multilateral organisations such as the International Civil Aviation Organisation (ICAO), the Ministry of Transport and the US Department of Transport said in a joint statement on Friday (April 9). The statement, which followed an introductory virtual meeting between Transport Minister Ong Ye Kung and his US counterpart Pete Buttigieg on Thursday, said the countries will build on the excellent cooperation established over the years by agencies and officials on both sides, including in areas such as the exchange of best practices on urban transport systems. In a Facebook post on Friday morning, Mr Ong said he had a fruitful discussion with Mr Buttigieg despite the 12-hour time difference between Singapore and the US. It was 8pm in Singapore and 8am in Washington when they met virtually. "Secretary Buttigieg and I are in full agreement on the need to safely restore international air travel and to strengthen our collaboration on climate action and sustainability, including at the International Civil Aviation Organisation and International Maritime Organisation (IMO)," said Mr Ong. The statement also reaffirmed that both countries are parties to the Paris Agreement - a 2016 international agreement on climate change action, which former president Donald Trump withdrew the US from in 2017. The US re-entered the agreement hours after President Joe Biden's inauguration, with former secretary of state John Kerry - who helped broker the Paris Agreement - appointed as climate envoy. Areas of possible collaboration on climate action in transportation that the two countries are exploring include alternative fuels, electrification, market-based measures and technological advancement. Singapore and the US can work together on advancing the development and deployment of sustainable aviation fuels and other clean technologies; identifying new climate-related innovations such as electric vehicles and related infrastructure; and exploring climate-friendly practices in urban transport planning, including reducing unnecessary trips and encouraging low-emission options such as cycling, said the statement. Both sides also intend to strengthen cooperation at the ICAO and the IMO to keep aviation and maritime transport open, efficient, reliable, safe, sustainable and resilient. This would include actions like pushing for the decarbonisation of the aviation sector, and reducing emissions from ships. "We will continue our engagement at the Asia-Pacific Economic Cooperation Forum (Apec), specifically through the Transportation Working Group and Transport Ministers' Meetings, supporting the goals of the Apec Putrajaya Vision 2040," the statement added. Travel between the US and Singapore has yet to fully reopen. Singapore has said that it will accept the International Air Transport Association's travel pass from May 1 where passengers will be able to share their pre-departure Covid-19 test results with their airline, while the US is still weighing its options on that front. There are no restrictions on passengers flying to the US from Singapore, aside from on-arrival testing and self-quarantine. However, only those holding permanent residency or other forms of long-term passes are allowed to fly to Singapore from the US. More on this topic   Related Story Singapore, US reaffirm strong bilateral defence ties   Related Story Talks on Covid-19 passport a first step towards quarantine-free travel, says S'pore

Read More