Kienlong Commercial Joint Stock Bank to Launch Kienlongbank - JCB Credit Card in Vietnam
 
JCN Newswire
Aug 20, 2018
Category:

Ho Chi Minh City and Tokyo - (ACN Newswire) - Kienlong Commercial Joint Stock Bank (Kienlongbank) and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd, announced Kienlongbank - JCB Credit Card launched on August 18th in Vietnam.

The holders of Kienlongbank-JCB Card can access the JCB acceptance network with about 30 million merchants in the world, and enjoy a lot of benefits provided by Kienlongbank, special privileges at selected merchants, and customer service at JCB Plaza, an overseas service counter around the world.

Moreover, Kienlongbank-JCB Platinum Credit Cardholders are entitled to a number of other privileges such as the access to over 73 airport lounges in Japan, China, Hong Kong, Singapore, Korea, Thailand and Vietnam; and 24/7 global support through a free hotline when booking car rental, hotel, restaurant, and golf in Japan.

The new cardholder will be waived issuing fee and annual fee of the first year, also for next years if reach the required minimum spending volume. Besides, from September 1st 2018 to December 31st 2018, Kienlongbank will offer gifts to customer who apply for new Kienlongbank - JCB card, and cardholder of Kienlongbank - JCB Card with spending from VND 2 million in the first 30 days after activating.

About Kienlongbank

Kienlong Commercial Joint-Stock Bank (Kienlongbank) was established and has been in operation from October 1995 in Kien Giang province in Vietnam. After over 23 years of operation, Kienlongbank has become a strongly developed, stable and reliable bank.

Kienlongbank set up, constantly strengthening and developing its business network; diversifying products and services, investing in the development of e-banking services; strengthening training and improving personnel policies, attracting talents; assuring the operation of an effective risk management system; improving financial capacity; performing social responsibility through social security activities.

The bank's strategy is to consistently expand its transaction network and bring Kienlongbank's brand, products and services closer to nationwide customers. Kienlongbank continued expanding its nationwide network and accelerated e-banking service development as approved by the State Bank of Vietnam. By the end of 2018, Kienlongbank possessed 134 transaction outlets, including 30 branches and 104 transaction offices located at 28 provinces and cities, striving to develop Kienlongbank into one of the 15 leading retail banks in Vietnam in the near future. For more information, please visit: https://kienlongbank.com

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

Contact
Kienlongbank
Customer Service Center
Tel: +84 28 1900 6929
Email: kienlong@kienlongbank.com

JCB Co., Ltd.
Kumiko Kida
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp

 
 
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Foreign residents allow to invest in China’s USD 7 trillion stock market
 
China Knowledge Online
Aug 18, 2018
Category:

Aug 16, 2018 (China Knowledge) - Foreigners working in China can now invest in China’s A-shares was announced by the China Securities Regulatory Commission (CSRC) after the market closed yesterday. The breaking news is expected to open the floodgate of some 900,000 foreign residents who are working in the Mainland China to access the country’s USD 7 trillion stock market in Shanghai and Shenzhen.

For three decades since the Shanghai bourse launched in 1990 stock trading to foreigners were closed, and only granted to large funds from 2003 through the Qualified Foreign Institutional Investor (QFII) scheme, which to date, totaled over USD 100 billion from 287 foreign firms. Then came the Stock Connect and Bond Connect in 2016 where foreign institutions could trade domestic stocks and bonds through Hong Kong.

Candidly speaking, allowing approved foreign residents to invest directly would spice up their dining and drinking experience with new topics and sharing circling listed companies’ performance and investment opportunities. Before it was like watching the World Cup but no channel to execute ideas or opinions on the games. At only a quarter of U.S.’s GDP per capita Chinese economy will see ample room for growth for its listed companies, and these should lure more foreign participation.

Other positive news from the financial industry, mainly benefitting the foreign institutions, include the introduction RMB denominated crude oil and rubber futures, easing of trading quota, granting of more fund businesses’ license, allowing foreign M&A on local listed companies, and with many new laws amended this could further facilitate the access to China’s USD 49 trillion markets.

There are also other opportunities but little known to foreigners here include the access to the country’s trust products, mutual funds and other licensed bank’s wealth products. Just the size of high-yield collateralized loans in the trust industry exceeds the total of all the world’s hedge funds combined, at over USD 4 trillion. The high annual returns of these trust products of between 5% and 14% could by itself attract a plethora of salivating investors from across the globe. China’s USD 1.6 trillion mutual funds is another option made available through most local banks.

If U.S. is the standard gauge to apply the foreign ownership of American equities and bonds of one-third that proportion could translate into several trillions of dollars investments from overseas entering China. Recent months of strong buying from foreign institutional funds in the domestic stocks and bonds have seen billions of dollars a day of investments, and to quote from the China HK bond connect program’s official, daily buying of bonds will increase 4 folds by 2020 from current USD 1 billion a day.

The stock market access is a major move to open up China entirely, and it is foreseeable the Chinese currency will be completely free float and become a major global currency within a decade, or even faster.

 
 
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Sendo raises $51 million from SoftBank Ventures Korea and other investors
 
Aug 16, 2018
Category:

HO CHI MINH CITY, Vietnam, Aug. 16, 2018 /PRNewswire/ -- Sen Do Technology JSC (Sendo), the #1 Vietnamese C2C marketplace, today announced that it has secured an investment of USD 51 million led by the SBI Group from Japan for Series B round, having SoftBank Ventures Korea, Daiwa PI Partners, and SKS Ventures as new investors. The funding round from investors in Japan, Korea, and Taiwan was participated by all the existing investors, including SBI Group, FPT Group, eContext Asia, BEENEXT, and BEENOS.

Nguyen Dac Viet Dung, Executive Chairman and Co-Founder of Sendo, said: "The funding would help the company to expand the C2C platform Sendo, launch the B2C marketplace SenMall, and making SenPay the leading fintech platform in Vietnam. Our ultimate goal is to continue to support hundreds of thousands of Vietnamese sellers to prosper, and along the way help creating millions of jobs for the Vietnamese people. Having achieved the annualized GMV of 330 million USD, the company is on track to surpass USD 1 billion of GMV in 2020."

Daniel Kang, Partner and Managing Director of SoftBank Ventures Korea, said: "Vietnam is at its inflection point, bolstered by rapid GDP growth, young population and willingness to adopt technology. Against this backdrop, Vietnam's e-commerce has strong growth potential and we believe Sendo's marketplace model will benefit from the environments the most."

In a fast-growing e-commerce market, Sendo has differentiated itself by focusing on not only Hanoi and Ho Chi Minh City but also the untapped Tier 2 cities population, where 70 million Vietnamese people live. Being a homegrown company also allows the company to have deep understanding of the Vietnamese local market and culture. Sendo currently serves more than 300,000 sellers and millions of buyers in all 63 provinces in Vietnam. To achieve its fast growth, Sendo focuses on utilizing the strength of partners in the ecosystem, such as merchants, third-party logistics, and advertising companies. The company also provides SenPay, a Mobile Wallet Service and Fintech solution on Sendo Platform as well as the off-line world.

Introduction of Sendo:

Launched in March 2012, Sendo is the #1 C2C marketplace in Vietnam, offering more than 10 million of products on its platform. This is also the first e-commerce marketplace combined with logistics providers and banks to provide customers with a full package of guaranteed transaction. In 2016, Sendo's fintech subsidiary FPT Wallet, which operates Senpay, received e-payment licensed from the State Bank of Vietnam.

Introduction of SoftBank Ventures Korea

Established in year 2000, SoftBank Ventures Korea is the only global early-stage venture capital arm of SoftBank Group based in Seoul, Korea. SoftBank Ventures Korea invests in start-ups with a strong potential in Asia, the U.S., Israel, and the EU, focusing on AI, IoT, and smart robotics industry. To date, Softbank Ventures Korea has invested US$600 million across 230 start-up companies.

Introductions of Daiwa PI Partners

Daiwa PI Partners is an entity of Daiwa Securities Group which engages in the principle investment business. Since its establishment starting out as a player in the debt investment field in 1998, Daiwa PI Partners has been broadly expanding its business, which now extends not only to debt investment but private equity and energy investment as well. It now engages in various investments worldwide, i.e., in Japan, Vietnam, and other Asian countries, U.K., and Australia.

Introduction of SKS Ventures

SKS Ventures is a global investment management institution established in late 2017. It manages over four funds, over USD350 million AUM, covering direct investments, funds of funds, pre-IPOs and leverage buyouts in industries such as TMT, education, beauty, packaging, biotech, manufacturing, IoT and more. SKS Ventures invests strategically and globally in China, Vietnam, the US, Hong Kong, and Taiwan. SKS Ventures integrates and revamps the current hardware industry to keep up with the changes and demands of the current and future retail, software and automobile market place.

Introduction of FPT Group

FPT is the biggest IT service company in Vietnam and region with more than 32.000 employees, including nearly 14.000 technology specialists.

FPT currently provides IT service in 33 countries all over the world, with key markets such as Japan, the U.S and Europe. As a pioneer in 4.0 revolution, FPT, together with global leading corporations which own 4.0 technology platforms in the world such as GE, Siemens, AWS,… is pioneering in digital transformation for customers in over the world.

Introduction of SBI Group

The SBI Group is Japan's leading financial services company which was established in 1999 as a pioneer of Internet-based financial services, and currently has formed the world's first Internet-based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. The SBI Group also globally manages a number of private equity and venture capital funds. As a pioneer in the Fintech industry and after years of actively investing in start-up companies in the sectors such as IT, mobile, bio-life science and Fintech, the SBI Group has now become a global leader in making active investments in the area of Fintech, artificial intelligence and Blockchain. With an aim to expand the Group's footprint in Southeast Asia, SBI Group has invested in and added value to a number of technology and financial services companies in the region as well.

Introduction of eContext Asia

Established in Sep 2012, EContext Asia is a holding company of payment businesses for the global expansion of EC platforms of all types.

Introduction of BEENEXT

BEENEXT is the Venture Capital managed by serial entrepreneurs and focuses on assisting founders with operational experience, global network, trust and the capital. The team invests in early-stage tech startups in Vietnam, other South East Asia, India, Japan and USA that create the Digital Platform (Marketplace, Payment, Fintech, AI, Data, SaaS, IoT, Healthcare, Agritech) with the power of network, technology and data. It supports the company's exponential growth via unique data generation and platform plays.

Introduction of BEENOS

BEENOS was founded in 1999 as an E-commerce marketplace during the early phase of Internet-related businesses in the Japanese market. Its business model is divided into two segments: the E-Commerce segment that engages in a variety of E-Commerce businesses domestically and internationally, and the Incubation segment which invests in tech startups mainly in Southeast Asia, Japan, and the US as well as creates new business opportunities for other subsidiaries. BEENOS's mission is to connect Japan with the world on the global platform frontier. BEENOS and one of its subsidiaries are publicly listed on the Tokyo Stock Exchange.

Contact: Ms Nguyen Ho Huyen Trinh - Marketing Director email: trinhnhh@sendo.vn, phone: +84 (028) 73001188

Source: Sen Do Technology JSC

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XIUS Unveils Machine Learning based Data Platform for MVNOs
 
JCN Newswire
Aug 01, 2018
Category:

MVNOs Envisage Increased ARPU and Customized Customer Experience

HYDERABAD, INDIA - (ACN Newswire) - XIUS, a leading supplier of mobile technology, mobile payments and enterprise offerings has unveiled its 'vData Core', a patent-pending telco grade platform. This platform, the first of its kind, incorporates Machine Learning (ML) at the core and equips Mobile Virtual Network Operators (MVNOs) to boost revenue and thrive.

Today, a majority of Communication Service Providers' (CSP) revenue is generated from data services. It is estimated that by 2021, the average data consumption will be 52 Exabytes per month with 70 percent of mobile data being video. This makes it necessary for CSPs to be well prepared in effectively monetizing the unimaginable surge in data usage.

With vData Core, XIUS will enable MVNOs to offer personalized data packages and enchant their end users with customized customer experience through Machine Learning and Network Function Virtualization (NFV). Additionally, vData Core's capacity optimization provides visibility into the entire infrastructure making it possible to meet changing service demands. MVNOs can leverage vData Core's capabilities to improve their operational efficiency, increase agility to market and deliver services to end users more effectively.

5G expects network slicing for various customers and classes of customer which MVNOs can now achieve through NFV. AI based slicing and crucial configuring of varied products, services and plans for each customer is made extremely simple by vData Core.

One of the key challenges faced by MVNOs is that a greater portion of Average Revenue per User (ARPU) is generated through data services but lack of innovation has led to flattened revenue and increased customer churn.

G V Kumar, CEO and Managing Director of XIUS said, "MVNOs have been fast to capitalize on the modern day consumer's data needs and understand that consumers often pick an operator based on data packages. It has also been proven that they can grow their business through customer-centricity. vData Core will enable MVNOs to understand their customer and innovate based on consumer needs. It will help them to efficiently manage and monetize data and ultimately enhance customer experience".

XIUS vData Core helps MVNOs beat competition with on-the-fly and quick launch of data plans, add-ons and combo packages. The Machine Learning (ML) driven auto-generation of personalized product / service offerings to individual subscribers improves customer loyalty and reduces churn. Over a period of time, with extended and vigilant use, it is likely to boost data ARPU by about 15 percent and transform product engagement by about 25 percent.

XIUS is offering highly attractive commercial models to interested customers.

About XIUS

XIUS is a mobile technology specialist focused on real-time transaction processing in Mobile Infrastructure & Services and Mobile Banking & Payments.

XIUS, a division of Megasoft Limited, brings together premium technology and outstanding value-added solutions for customers globally. Over 25 years of telecom expertise is proven by more than 230 deployments and customers that include Tier 1 mobile operators, MVNOs and large enterprises across 5 continents. Its strong belief in innovation reflects in the filing of 120 patents, with 35 awarded to date.

XIUS is adept in meeting its client expectations and their needs. The varied portfolio of MVNOs to which it has provided solutions and offers services comprise of rural-inclusive, digital, cable, banking, ethnic, M2M, youth, roaming, advertisement-based, retail and loyalty.

XIUS mobile infrastructure solutions process and manage in excess of 350 million calls / data sessions a day and the mobile payments solutions manage over US$ 1 billion worth of payment transactions monthly. To know more, please visit www.xius.com.

For more information, please contact marketing@xius.com.

 
 
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Russian Agricultural Bank, JCB and Panasonic launch first co-branded JCB card in Russia
 
JCN Newswire
Jul 24, 2018
Category:

Tokyo - (ACN Newswire) - Russian Agricultural Bank, Panasonic Russia and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., have launched first co-branded bank card on the base of the international payment system JCB.

In partnership with Panasonic, Russian Agricultural Bank is now offering credit and debit cards that are issued and serviced free of charge. The co-branded cards will join the Club Panasonic Loyalty Program on special terms and receive 10,000 welcome bonus points.

For any purchases made with the card, the cardholders will be given bonus points which can be used to receive a discount up to 50% on Panasonic products at the official e-commerce store Panasonic Eplaza, 1 bonus point being equivalent to 1 rouble.

For any purchase at the Panasonic Eplaza, cardholders will receive 20% cashback in bonus points on their cards. For any other purchases of products or services they will be given 5%.

"Cooperation between Russian Agricultural Bank, JCB and Panasonic facilitates the development of trade and economic relations between Russia and Japan in a year of paramount importance for our two countries, the Year of Japan in Russia[1]. We have created a unique product to help Russian Agricultural Bank's clients make rewarding purchases and cement relationships between our countries. A key player on the Russian financial market with an extensive sales network, Russian Agricultural Bank continues to broaden its product line to stay up to date with the most recent trends and offers reliable servicing of international payment cards," said Irina Zhachkina, First Deputy Chairman of the Board of Russian Agricultural Bank.

"Our new co-branded card is unique for Russia in that it complements and expands the existing loyalty program, already joined by hundreds of thousands of Panasonic brand fans in Russia. It is crucial that we launched this project in 2018, the year of the 100th anniversary of Panasonic Corporation. I believe that this and other partnership projects will help lay a foundation for future success and prosperity in this century," said Junichi Suzuki, Director General of Panasonic Russia.

"We are confident that this project will become a landmark for us as we are working towards our goal of growing into one of the most dynamic and innovative players in the Russian payment industry. The market of payment solutions is expanding, and consumers now have broader expectations about card products and the privileges they give to cardholders. In partnership with Russian Agricultural Bank and Panasonic we are offering consumers an additional opportunity to pay and be rewarded. The new co-branded card is our response to the growing needs of the market," said Takashi Suetsugu, General Director of JCB International Eurasia.

Russian Agricultural Bank is the cornerstone of the Russian credit and financial system for national agribusiness. Established in 2000, it is the key lender to Russian agribusiness and one of the largest and most sustainable banks in the country by assets and capital. Ranked among the best Russian banks, Russian Agricultural Bank is 100%-owned by the Russian Federation.

Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. Celebrating its 100th anniversary in 2018, the company has expanded globally and now operates 591 subsidiaries and 88 associated companies worldwide, recording consolidated net sales of Euro 61.4 billion (7.982 trillion yen) for the year ended March 31, 2018. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic:  https://www.panasonic.com/global/home.html

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. Currently, JCB cards are accepted globally and issued in 24 countries and regions. For more information, please visit: https://www.global.jcb/en/ or  http://www.ru.jcb/ru/
Note: Statistics about JCB are as of June 2018.

Contact
Kumiko Kida
JCB Co., Ltd.
Corporate Communications Department
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp

[1] 2018 has been declared by Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe "the Year of Russia in Japan and the Year of Japan in Russia". This undertaking has been a package of events in politics, economics, sciences, culture and art, as well as the sphere of student exchange. The aim is encouraging mutual understanding between the people of these countries and to develop neighbourly ties over the long-run.
 http://en.kremlin.ru/events/president/news/57567
 https://tokyo.mid.ru/web/tokyo-en/-/opening-of-cross-years-of-russia-and-japan

 
 
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ITF Corporation Collaborates with Giant Financial Services and Get MDream Wealth Management
 
Jul 20, 2018
Category:

(Hong Kong - 20 July 2018) ITF Corporation ("ITF" or the "Company") is pleased to announce today that the Company entered into two separate collaboration agreements with Giant Financial Services Limited ("GFS collaboration agreement") and Get MDream Wealth Management Limited ("GMD collaboration agreement"), respectively. Witnessed by Mr. Jim Rogers, investor of ITF and Co-founder of Quantum Group of Funds, Mr. Lim Hui Jie, Founder & CEO of ITF signed the collaboration agreements with Mr. Victor Or, shareholder of Giant Financial Services ("GFS") and Mr. Rick Tam, Director & CEO of Get MDream Wealth Management Limited ("GMD") cum Non-Executive Director of One International Holding Limited ("One International") during the signing ceremony.

Mr. Lim Hui Jie, Founder & CEO of ITF, stated, "We are glad to have in-depth collaboration with GFS and GMD. Both companies are developing rapidly in the fintech industry and committed to providing innovative internet financial services to potential clients. By leveraging on GFS and GMD's connections and expertise, ITF is poised to develop its fintech banking platform as well as apply for virtual banking license in Hong Kong."

Under the GFS collaboration agreement, ITF would be opening up its open banking platform to GFS and jointly develop a financial services marketplace. Currently the beta version of GFS App is completed, and the app would be launched by the end of this year. ITF and GFS would be working closely together to explore the possibility of applying for a virtual banking license. Together with GFS, ITF has entered into a multi-party agreement with insurance, asset management companies etc. to integrate financial services to the fintech marketplace.

The collaboration agreements between GMD, ITF and GFS would jointly collaborate in the areas of fintech development and to explore the feasibility of obtaining a virtual banking license in relevant jurisdictions in Asia: a move to expand the market. ITF shall provide core banking technology and services to GMD, while GMD shall appoint ITF as exclusive partner in Asia for all fintech related services.

-End-

/Witnessed by Mr. Jim Rogers and Dr. Raymond Or, Mr. Lim Hui Jie, Founder & CEO of ITF and Mr. Victor Or, shareholder of Giant Financial Services signing the collaboration agreement. Victor is also the single-largest shareholder of ITF.

/Mr. Jim Rogers witnessed the signing of collaboration agreement between Mr. Lim Hui Jie, Founder & CEO of ITF and Mr. Rick Tam, Director & CEO of GMD cum Non-Executive Director of One International.

/
From left to right: Dr. Raymond Or, Mr. Victor Or, shareholder of Giant Financial Services, Mr. Lim Hui Jie, Founder & CEO of ITF, Mr. Jim Rogers, investor of ITF and Co-founder of Quantum Group of Funds, and Mr. Rick Tam, Director & CEO of GMD cum Non-Executive Director of One International.

About ITF Corporation
ITF Corporation is a profitable fintech group focusing on bringing financial freedom to the masses through better financial accessibility, financial and business opportunities, and financial literacy.

About Giant Financial Services Limited
Established in 2016, Giant Financial Services Limited ("GFS") is an online based fintech marketplace that embraces the vision of making finance simple and accessible to every individuals.

GFS brings together financial institutions and consumers from around the world, providing consumers with comprehensive access to financial and insurance products on one hand, whilst facilitating the provision of quality products and services from the industry in an efficient manner.

By utilizing and continuing to develop and enhance on its very own cutting edge blockchain and artificial intelligence technology, GFS is able to transform and revolutionize the way financial services are delivered and the way individuals manage and create wealth.

About Get MDream Wealth Management Limited
Headquartered in Hong Kong, GET MDREAM Wealth Management Limited ("GMD") provides comprehensive financial planning and wealth management services to institutional and individual customers in Asia Pacific Region.

GMD is a member of Professional Insurance Brokers Association (Membership no.M0266) and a registered MPF Intermediary of Mandatory Provident Fund Schemes Authority (Registration no.IC000579). They are positioned as an independent financial advisor, aiming at providing professional, impartial and overall financial planning services.

For media enquiries, please contact:

PR ASIA Consultants Limited

Lorraine Lam / Veronica Hui / Kenny Chan

Tel: (852) 3183 0230 / 3183 0251 / 3183 0264
Fax: (852) 2583 9138
Email: lorraine.lam@prasia.net / veronica.hui@prasia.net / kenny.chan@prasia.net

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Bank of Singapore is the First Singapore Private Bank to Receive Regulatory Approval to Open a Wealth Management Subsidiary in Luxembourg
 
Jul 16, 2018
Category:

The set-up of the Luxembourg subsidiary further positions Bank of Singapore to capture opportunities in Europe.

SINGAPORE & LUXEMBOURG--(BUSINESS WIRE)--Bank of Singapore today announced that it has been granted an investment company licence to operate a wealth management subsidiary in Luxembourg – a first for a Singapore private bank.

Bank of Singapore, through this new subsidiary, BOS Wealth Management Europe Société Anonyme (S.A.), will be able to offer a comprehensive range of customised private banking solutions and investment advisory services to its ultra-high and high net worth clients in the European Economic Area (“EEA”) and the United Kingdom (“UK”). The EEA comprises the European Union (EU) countries and Iceland, Liechtenstein and Norway.

Currently, Bank of Singapore serves its European clients from its Singapore headquarters and through its parent company OCBC Bank’s London office. There has been robust growth in assets under management from EEA clients as they hold Singapore in high regard as a premier financial hub in Asia with its sound economic and political stability, and its access to global and regional financial markets.

The Luxembourg-based business will be headed by Mr Anthony Adriano Simcic (left), who will report directly to Mr Olivier Denis, Bank of Singapore’s Global Market Head for Singapore, Malaysia and International.

Mr Simcic, who has 18 years of banking experience, was previously Head of Private Banking for HSBC Private Bank in Luxembourg.

With BOS Wealth Management Europe S.A. set to begin operations in the third quarter of this year with an official opening in the second quarter of next year, Bank of Singapore is poised to bring its European business to the next level and improve the bank’s coverage of the Independent Asset Manager (IAM) segment in Europe, given that the concept of IAM is commonplace in Europe.

The go-ahead to operate a wealth management subsidiary in Luxembourg comes at an opportune time as Europe saw a substantial increase in the number of HNWIs and wealth in 2016, based on the 2017 Capgemini World Wealth report.

The number of HNWIs in Europe rose by 7.7 % to 4.5 million – outpacing the 7.4 % increase recorded for the Asia-Pacific. In terms of high net worth individual (HNWI) wealth, Europe registered the third highest growth (8.2 %) by region. This was on par with the Asia-Pacific region and just behind Latin America and Africa.

Chief Executive Officer of Bank of Singapore, Mr Bahren Shaari, said, “Since the global financial crisis of 2008, European high net worth individuals and family offices have shown increasing interest in Asia, and especially in Singapore, as an alternative wealth hub. As a Singapore headquartered private bank with deep knowledge of and extensive insights into Asia, Bank of Singapore has been a natural choice for them. Our ability to help them with their investments in Asia – by extending a broad array of commercial banking capabilities across OCBC Bank’s regional and international network, on top of best-in-class private banking solutions – makes for an attractive value proposition.”

“The establishment of BOS Wealth Management Europe S.A. in Luxembourg highlights our commitment to better serving high net worth individuals and family offices in the region. We are confident of replicating our successful business model – which is flourishing in Hong Kong and Dubai – so that it supports the growing affluence and rising economic activities in the European Economic Area.”

Luxembourg, which sits strategically in the heart of Western Europe, is consistently ranked among the top three financial centres in the European Union in the Global Financial Centres Index published by market intelligence firm Z/Yen.

With more than €4 trillion in assets under management, it is the largest investment fund centre in Europe and the second largest in the world, behind only the United States. With Luxembourg investment funds offered in more than 70 countries worldwide, it is also the largest global distribution centre for investment funds.

For all updates on Bank of Singapore, follow @bankofSG on twitter and “follow” linkedin.com/bankofsingapore on LinkedIn.

About Bank of Singapore

Bank of Singapore is the dedicated private banking subsidiary of OCBC Bank. It has a strong Aa1 credit rating from Moody’s and offers a unique value proposition as a safe Singapore-registered private bank.

It operates on an open-architecture product platform and has strong research capabilities, especially in emerging market research, to help its clients make the right decisions for fixed income, equities and money market investments as well as portfolio management, trust and insurance services. Over the years, it has built Managed Investments capabilities and premium trust and advisory services, supported by one of the largest research teams in Asia.

Beyond private banking services, clients of Bank of Singapore have access to personal and business banking services, as well as investment opportunities offered by OCBC Bank or its subsidiaries.

It is able to leverage OCBC Bank’s commercial banking capabilities to extend its clients a broad array of consumer and corporate banking, corporate finance and treasury services across the OCBC Bank’s regional and international network.

Bank of Singapore serves high net worth individuals and wealthy families in its key markets of Southeast Asia, Greater China, Philippines, India Sub-Continent and other International markets. Headquartered in Singapore, Bank of Singapore has branches in Hong Kong and Dubai International Financial Centre, with representative offices in Manila and Dubai.

Its strong performance has won it numerous industry recognitions. In 2017, Bank of Singapore was named the Best Private Bank in Singapore (for the sixth time) by Asian Private Banker and Best Private Bank for entrepreneurs in Asia-Pacific by Global Finance. It was also named the Outstanding Private Bank in South East Asia for three years (2014, 2016 and 2017) by Private Banker International.

For more information, please visit www.bankofsingapore.com

About OCBC Bank

OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 590 branches and representative offices in 18 countries and regions. These include over 320 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and more than 100 branches and offices in Hong Kong, China and Macao under OCBC Wing Hang.

OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.

OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.

For more information, please visit www.ocbc.com

Contacts
BOS Wealth Management Europe S.A.
Sandrina Oliveira, Tel: (352) 28 57 32 4003
Senior Associate
Office Manager
Email: sandrina.oliveira@boswm.com

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Guotai Junan International Awarded 'Asia's Best CEO' and 'Best Investor Relations Company' by Corporate Governance Asia
 
Jun 13, 2018
Category:

Junan International" or the "Company", Stock code: 1788.HK) is pleased to announce that the Company received the "Best Investor Relations Company" award in the "8th Asia Excellence Award" (the "Award") held by Corporate Governance Asia. Meanwhile, Dr. YIM

Fung, the Company's Chairman and Chief Executive Officer, was awarded "Asia's Best CEO". These two accolades have delivered the recognition and praise of the market on the Company's dedication to promoting high-level corporate governance and investor relations.

Corporate Governance Asia is an authoritative journal on corporate governance with significant influence in Asian-Pacific region, which has been organizing the "Asian Excellence Awards" every year since 2011. In line with a strict voting and selection criterion, the Award was designed to praise industry leaders in categories such as Corporate Governance, Financial Performance, Corporate Social Responsibility, Environmental Practices and Investor Relations. As a high-standard and authoritative award, the Award has been focusing on corporates and management talents from 12 countries and regions including China, India, Japan, Korea, Singapore, etc.

Committed to the mission of "Creating Values by Financial Services", Guotai Junan International has established a well-designed governance and control system. The Board has been attaching great importance to corporate governance, and continuously optimizing the Company's management by regular revision with rigorous approaches, while prioritizing the quality, rather than scale of the business as the development goal. Adhering to its prudent risk management system and sustainable development strategy, the Company has been continuously diversifying its business and optimizing its income structure since listing in 2010. For the last five years, both the Company's CAGR of income and net profit have exceeded 30%, with the return on equity reaching an industry-leading position. The Company has been always maintaining active communications with its shareholders and investors and gaining the recognition and praise from the capital market, for investing on

information disclosure and investment management, broadening its information disclosure channels, maintaining public and transparent information disclosure, and keeping all-round communication with investors.

Besides its employees' unremitting efforts, the managements' leadership is also vital for the Company's outstanding performance. Dr. YIM Fung, the Company's Chairman and Chief Executive Officer, has over 26 years of experiences in the securities industry. Aiming to maximize the benefits of shareholders and clients, Dr. YIM Fung has led the Company to break its business records for several consecutive years, with his insistence for high-level corporate governance, sharp market insight and excellent entrepreneurship, which had been widely recognized and applauded by investors and the market.

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About Guotai Junan International Holdings Limited

Guotai Junan International is the market leader and first mover for internationalization of Chinese Securities Company. The Company is the first Chinese securities broker to list on the Main Board of The Hong Kong Stock Exchange by way of initial public offering. Based in Hong Kong, the Company provides diversified integrated financial services. The five core services include: (i) brokerage, (ii) corporate finance, (iii) loans and financing, (iv) asset management, (v) financial products, market making and investments.

The Company is one of the constituents of HSCI, Hang Seng Composite LargeCap & MidCap Index, FTSE HK index and FTSE HK ex H share index. Guotai Junan International has been assigned "Baa2 / Prime-2" and "BBB+ / A-2" rating from Moody's Investor Service and Standard & Poor's Global Ratings respectively.

Our controlling shareholder, Guotai Junan Securities Company Limited ("Guotai Junan", Stock Code: 601211.SH; 2611.HK), is one of the China's leading securities houses. Backed by strong operational support, the Company will be able to further explore the HK and the Asia-Pacific market.

For more information about Guotai Junan International: http://www.gtjai.com.

- ASIA TODAY News Global Distribution http://www.AsiaToday.com

 
 
JSC Russian Agriculture Bank Enables Acceptance of JCB Cards in Russia
 
JCN Newswire
May 31, 2018
Category:

Moscow and Tokyo - (ACN Newswire) - JSC Russian Agriculture Bank ("RSHB") and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., are pleased to announce the launch of JCB card acceptance on the RSHB ATM and POS terminal network. RSHB's acquiring network includes 3,800 ATMs, 1,700 info-kiosk terminals and more than 10,500 POS terminals at merchants. Now JCB cardmembers will be able to withdraw cash and check their balance at RSHB ATMs.

Irina Zhachkina, Deputy Chairman of the Board of JSC Russian Agriculture Bank noted: "The cooperation between Russian Agriculture Bank and JCB contributes to the development of bilateral trade and economic relations between Russian and Japan. It aims to activate payment flows inside the country and abroad, primarily providing a settlement infrastructure for tourists and business travelers from Japan".

Takashi Suetsugu, General Director of JCB International Eurasia commented: "We welcome this first stage of cooperation with JSC Russian Agriculture Bank, where the team professionally and effectively implemented our new project, providing reliable service to not only foreign JCB cards, but also to JCB cards issued in Russia, in the central as well as the remote areas of Russia through one of the largest banking service network in the Russian Federation. From now using JCB cards will become even more convenient".

About Russian Agriculture Bank

Russian Agriculture Bank is the basis of the national credit and financial system servicing the agro-industrial complex of Russia. The Bank was established in 2000 and today is a key creditor of the country's agribusiness, is among the largest and most stable banks in the country in terms of assets and capital, as well as among the leaders of the reliability rating of the largest Russian banks. 100% of the Bank's voting shares are owned by the Russian Federation.

Contacts
Russian Agriculture Bank
Press office
Tel: (495) 213-08-46
E-mail: press@rshb.ru

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit:  www.ru.jcb/ru/ or  www.global.jcb/en/

Contacts
Kumiko Kida
Corporate Communications Department of JCB Co., Ltd.
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp

 
 
Contact
Company JCN Newswire
Contact Tiara Liu
Telephone +81-3-5791-1821
E-mail info@japancorp.net
Website
ADB Seminar Considers Challenge of Technological Change, Globalization, and Jobs in Asia
 
May 20, 2018
Category:

MANILA, PHILIPPINES — As Asia and the Pacific seeks inclusive and sustainable economic growth, countries are adapting to the possibility that new technologies in fields such as robotics and artificial intelligence may lead to challenges for some industries and groups of workers, according to participants at a high-level Asian Development Bank (ADB) seminar.

“Advances in new technologies will raise incomes and increase demand from Asia’s rising consumer class,” ADB President Mr. Takehiko Nakao said at the Governors’ Seminar during ADB’s 51st Annual Meeting in Manila, Philippines. “Countries that maintain flexible policies, support improvements to education, and put in place a stronger social safety net will be well positioned to take advantage of change that new technologies will bring to the region.”

The seminar “Technological Change, Globalization, and Jobs in Asia” had as panelists Philippines Finance Secretary Mr. Carlos G. Dominguez, Indonesia Finance Minister Ms. Sri Mulyani Indrawati, Japan Deputy Prime Minister Mr. Taro Aso, and Fiji Attorney-General and Minister for Economy, Public Enterprises, Civil Service, and Communications Mr. Aiyaz Sayed-Khaiyum. They shared experiences and issues from their countries’ perspectives.

According to the theme chapter of ADB’s Asian Development Outlook 2018, despite concerns that new technologies and automation could lead to widespread job losses, there are four reasons for optimism about developing Asia’s job prospects.

First, despite the growing use of industrial robots in the region, new technologies often automate some tasks of a job, not the whole job.

Second, automation takes place only where it is both technically and economically feasible, and it has so far been concentrated in the region’s capital-intensive manufacturing with relatively low employment levels.

Third, empirical evidence from developing Asia shows that jobs created by rising domestic demand more than compensate for job losses due to technological advances. This job creation will likely continue as a growing middle class consumes more and better goods and services.

Fourth, technological advances and rising incomes will lead to new occupations and industries, further offsetting labor displacement due to automation.

Nonetheless, new technologies will alter the composition of skills needed by the workforce, panelists said. They may lead to more frequent unemployment and lower wage growth for less skilled workers who engage in manual and routine tasks, widening income inequality.

Governments can respond by ensuring workers are protected from these negative effects. This will require policy actions on education and skills development, labor regulation, social protection, and income distribution. Also, government support for new technologies must benefit people and protect their rights and privacy, panelists agreed.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.

- ASIA TODAY News Global Distribution http://www.AsiaToday.com