Credefi Scores Major Milestone in Partnership with TradFi Mogul Experian

New York, NY, January 01, 2023 – (SEAPRWire) – On a path to solve critical inefficiencies in the field of traditional financial lending and borrowing, Credefi has achieved a major milestone in its partnership with the TradFi behemoth Experian.

Credefi has managed to secure the rights to use Experian’s officially recognized and reputable brand materials to now position itself as “Credefi – Powered by Experian.” In doing so, the team has become the first in the blockchain industry to secure a partnership of this proportion.

Experian is one of the two largest credit bureaus in the world. The company collects and researches credit information of individuals and also rates their ability to repay debt. It’s a publicly-traded company with thousands of employees and offices around the world, harboring a total market capitalization upwards of $27 billion.

The above hints at the massive importance of this partnership and the trust and transparency it invokes in Credefi.

The collaboration is aimed at further expanding Credefi’s reach and access to institutional-grade clients and formalizes both companies’ bilateral cooperation. It also highlights the highest of standards that the team sets out to maintain when it comes to the quality of its service, but also the safety and security of its users.

Both companies are working to better the open banking system and integrate comprehensive FinTech APIs. The partnership makes it very easy and frictionless to check and adjust Credefi’s scoring, but it’s also important for Experian.

As part of the Green Deal of the European Union, Credefi becomes the official Experian partner and mediator for providing the service of Green Company scoring to each of the firms that apply for a loan through their platform.

For context, the Green Deal is aimed at improving the overall health and well-being of EU citizens and their future generations. To do so, the framework sets forth the groundwork for fresher air, cleaner water, healthier soil and biodiversity, more energy efficient buildings, healthier and more affordable food, and so forth.

Understanding the importance of compliance and also being fully present, Credefi’s partnership with Experian is aimed at upholding the high standards laid out in the framework.

About Credefi

Credefi is a reliable provider of decentralized and secured lending portfolios. The company maintains a bespoke approach to compliance, transparency, and security. Its goals are to protect lenders and borrowers from the volatile nature of the cryptocurrency market by delivering fixed returns.

About Experian

Experian is a multi-billion dollar publicly-traded company dealing with credit scoring and rates. It’s the second-largest credit bureau in the entire world and offers data and analytical tools to companies in over 65 countries.

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Croatia enters eurozone, Schengen area

Clients wait in line to withdraw cash at a bank in the center of Zagreb on Dec 30, 2022, as the euro becomes Croatia's official currency on Jan 1, 2023. (DENIS LOVROVIC / AFP)

ZAGREB – Croatia entered the eurozone and the European Union's (EU) border-free Schengen area on New Year's Day.

This was the first time a European country joined both the eurozone and the Schengen area on the same day, an important milestone for Croatia, an EU member since 2013.

On Jan 1, Croatia became the 20th member of the eurozone and the euro becomes its official currency

On Jan 1, Croatia became the 20th member of the eurozone and the euro becomes its official currency. On the same date, it also became the 27th member of the Schengen area, which was created in 1985 to allow free movement for all 420 million nationals of the signatory countries.

ALSO READ: Croatia to join Schengen zone, but Romania, Bulgaria barred

To help people adjust to the use of the euro, as of Jan 1, the dual circulation of Croatia's currency kuna and euro will last two weeks. After 12:00 midnight on Jan 14, only euros will be used. However, banks and post offices will continue to convert kuna into euro throughout 2023.


Brazil’s Bolsonaro lands in Florida, avoiding Lula handover

Grab taken from a handout video released by Brazilian President Jair Bolsonaro on his YouTube account on Nov 2, 2022, where he told his supporters that the world will not end on Jan 1 when rival Luiz Inacio Lula da Silva takes office, in Brasilia, on Dec 30, 2022. (HANDOUT / BRAZILIAN PRESIDENT JAIR BOLSONARO'S YOUTUBE ACCOUNT / AFP)

BRASILIA – Outgoing Brazilian President Jair Bolsonaro landed in Florida on Friday, after delivering a teary message to his supporters less than two days before his fierce rival Luiz Inacio Lula da Silva is set to take office.

An official Brazilian plane landed in Orlando, Florida late on Friday, flight tracking website FlightAware showed. Although Bolsonaro's destination has not been officially confirmed, his security staff were already in place in Florida.

Bolsonaro's exit from Brazil came after he repeatedly said he would not hand over the presidential sash to Lula at Sunday's inauguration, breaking with Brazil's democratic tradition. He may also face legal risks from remaining in Brazil as his presidential immunity expires when Lula takes office.

READ MORE: Lula ticket sues Bolsonaro, sons for abuses during Brazil's election

Vice President Hamilton Mourao will not pass the presidential sash to Lula, a spokesperson noted, raising doubts about who will do the ceremonial handover

His departure followed an emotional final address on social media earlier on Friday, in which he ran through the highlights of his time in office, sought to defend his legacy, and tried to inspire his followers into keeping up the fight against Lula.

Vice President Hamilton Mourao is now acting president after Bolsonaro left the country, his press office said. But Mourao will not pass the presidential sash to Lula, a spokesperson noted, raising doubts about who will do the ceremonial handover.

The presidential plane departed Brasilia shortly after 2 pm local time.

"I am in flight, back soon," Bolsonaro was quoted as saying by CNN Brasil earlier in the day. His press office did not respond to a request for comment.

The US State Department did not respond to a request for comment. The US embassy in Brasilia referred questions about Bolsonaro's trip to the Brazilian president's office.

Final words

Bolsonaro's exit follows weeks of silence, after he lost Brazil's most fraught election in a generation.

Some of Bolsonaro's supporters have refused to accept Lula's victory, believing his baseless claims that the October election was stolen. That has contributed to a tense atmosphere in the capital Brasilia, with riots and a foiled bomb plot last week.

In his social media address, Bolsonaro labeled the bomb plot a "terrorist act" for which there was no justification. He sought to distance himself from George Washington Sousa, the man who confessed to making the bomb, and who told police that Bolsonaro's call to arms inspired him to build an arsenal of guns and explosives.

"The man had ideas that are not shared by any citizen, but now they classify him as a 'Bolsonarista'," the president said.

ALSO READ: Brazil arrests 4 for alleged coup attempt in Bolsonaro riots

Yet Bolsonaro also praised protesters who have been camping outside army barracks across the country, urging the military to stage a coup.

"I did not encourage anyone to enter confrontation," he said, adding that his supporters had merely been seeking "freedom." He said the protests had been "spontaneous," with no leadership or coordination.

Bolsonaro's swift exit was a disappointment for many on the right, where his reputation has taken a beating for his post-election silence. Some of his diehard supporters at the entrance of the Alvorada Palace, the presidential residence where he lived, called him a "coward" during his speech, according to a Reuters witness.

Others felt abandoned by his departure.

"It feels as if my boyfriend has left me," said Deise Casela, a 57-year-old widow, touching the Brazilian flag that was lowered after Bolsonaro left the residence. "I am mourning again."


DASVERSE Introduces ‘Art Metaverse’ On LG TVs at CES 2023

Seoul, Korea, December 31, 2022 – (SEAPRWire) – DASVERSE (Ltd.) has announced on <date of publication> that it will be introducing the cutting-edge services of ‘Art Metaverse’ and ‘Dynamic Art OTT’ with LGE at the world’s largest technology consumer convention, ‘CES 2023’ in Las Vegas which will be held for 4 days from Jan. 5th 2023 to the 8th and where keywords such as ‘Web3 & Metaverse’ are expected to grab the attention.

After presenting the company’s advanced blockchain technology and art-tech Artnomics system at last year’s ‘CES 2022’, the blockchain based digital art company DASVERSE currently has built the world of ‘Daily Art Story Universe’, backed with the patent of allowing them to create UHD images that reveals detailed brushstrokes and textures of fine artworks. Furthermore, DASVERSE is able to optimize UHD fine artworks and present it onto virtual spaces in the metaverse with their technology patents.

”It is exciting to see the universe brought by the Art Metaverse platform open up to the world through LG’s excellent TVs. Art enthusiasts can now walk inside a virtual museum, interact with their favorite artists, admire their work and much more in a virtual reality world comparable to reality.” DASVERSE CEO RJ Park says regarding DASVERSE’s attendance to CES 2023.

In addition, DASVERSE has taken masterpiece artworks and recreated them to a dynamic media clip with music, allowing many to appreciate such artworks with ease. Dubbed as ‘Therapeutic Art OTT Service’, this service will be available in LG web OS TV. After its initial launch on March 3rd next year in Korea, it is expected to expand globally.

For more information, visit:

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US Boy Scouts, Catholic dioceses find haven from sex abuse suits

A victim of child sexual abuse, who Reuters agreed only to identify by his first initial, C, is pictured here at a California state park, Dec 23, 2022. (CARLOS BARRIA / REUTERS)

Lawmakers around the United States have tried to grant justice to victims of decades-old incidents of child sexual abuse by giving them extra time to file lawsuits. Now some of the defendants in these cases, including church and youth organizations, are finding a safe haven: America’s bankruptcy courts.

In New York, nearly 11,000 cases flooded state courts, many seeking to hold Catholic dioceses responsible for sexual abuse by clergy, after a 2019 law suspended statutes of limitations that would have otherwise barred many of the lawsuits. In response, four New York dioceses that collectively faced more than 500 sexual-abuse claims filed for bankruptcy. That halted the cases — and blocked those from anyone who might sue later — and forced the plaintiffs to negotiate a one-time settlement for all abuse claims in bankruptcy court.

The pattern has taken hold across the United States, a Reuters review of bankruptcies precipitated by mass child sexual-abuse litigation found.

Many of the defendants turning to bankruptcy court are nonprofit organizations. In court filings dating back to 2009, the Boy Scouts of America, a New York boys & girls club and 13 separate Catholic institutions each have cited state laws extending abuse victims’ right to sue as factors in their decisions to seek bankruptcy protection.

Such bankruptcies are “the counterpunch” to the state laws enabling more victims to seek justice and compensation through lawsuits, said Stephen Rubino, a lawyer who’s represented clergy abuse victims for more than 30 years.

In all, 23 states, two territories and Washington, D.C., have passed laws that suspend statutes of limitations for sexual-abuse victims who were previously prevented from suing over older cases. The suspensions typically last a year or more, allowing plaintiffs to file new lawsuits involving old abuse cases during that period. California, New York and several other states passed such laws in 2019.

The federal bankruptcy law is just defective when it comes to sexual-abuse victims. Their voice is just stolen from them.

Marci Hamilton, Founder, Child USA

Bankruptcy courts are undermining the impact of the statutes, some legal experts and victims’ advocates say. Judges overseeing these Chapter 11 filings set their own deadlines to file a sexual-abuse claim for compensation from the bankruptcy settlement.

Victims who miss the bankruptcy claims-filing deadline receive nothing or are forced to compete for limited funds set aside for unknown future claimants, the Reuters review of bankruptcies found.

“As we dramatically increase access to justice through statutes-of-limitations reform, we have more organizations going into bankruptcy because, frankly, bankruptcy law favors the organizations,” said Marci Hamilton, the founder of Child USA, a group that has advocated for laws expanding sexual-abuse victims’ rights to sue.

Child sexual-abuse victims often don’t come forward until much later in life, sometimes past the age of 50, according to several victims’ lawyers and studies on abuse disclosure. Some are not aware of bankruptcy proceedings that affect them until it is too late.

Bankruptcy claims-filing deadlines can force victims to come forward before they are ready, Hamilton said. And abuse claimants have limited leverage in Chapter 11 cases that halt their litigation and shield organizations such as dioceses, schools or youth organizations from current and future lawsuits, she said.

“The federal bankruptcy law is just defective when it comes to sexual-abuse victims,” Hamilton said. “Their voice is just stolen from them.”

Reuters identified settlements in 23 bankruptcies precipitated by child sexual-abuse scandals that halted current and future lawsuits and forced claimants to seek compensation from a trust. The cases involved the Boy Scouts, 21 Catholic organizations and USA Gymnastics. The youth gymnastics organization filed for Chapter 11 protection in 2018 amid a surge of lawsuits alleging abuse by convicted child sexual abuser Larry Nassar. (Now in prison, Nassar could not be reached for comment.)

The Boy Scouts and USA Gymnastics did not comment for this story.

The Boy Scouts and others have argued that their bankruptcy plans seek to pay claimants fairly and equitably, whereas civil litigation can result in some victims winning large jury verdicts and others receiving smaller judgments or nothing. USA Gymnastics has said it sought bankruptcy protection “to pave the way toward a settlement” with abuse survivors, who last year approved a plan paying them $380 million.

The organizations also often conduct extensive marketing campaigns to ensure that potential victims know they can seek compensation in the Chapter 11 cases, a review of the cases shows. The Boy Scouts, for instance, said on a website the group set up for restructuring that it launched a “comprehensive noticing campaign” in the media.

The Madison Square Boys & Girls Club in New York City referred Reuters to a bankruptcy-court declaration filed in June by its chief financial officer, Jeffrey Dold. Dold said the organization sought Chapter 11 protection after trying and failing to resolve about 140 pending claims of sexual abuse by club employees and volunteers between the 1940s and 1980s, all filed after the passage of New York’s claims-revival law. The club filed bankruptcy, Dold said, “to provide a forum to address those claims fairly and equitably.”

The US Conference of Catholic Bishops had no comment on the new state laws or their impact nationwide on Catholic organizations facing sexual-abuse lawsuits. In a statement to Reuters, it said it defers to state and local catholic leadership organizations on state laws and bankruptcies. The conference noted the importance of “pastoral outreach” to abuse victims and said that local dioceses have victim assistance coordinators to “assist survivors and accompany them as they seek healing.”

The nonprofit organizations’ bankruptcies don’t protect the individual abusers themselves, whom victims can still sue. But they do grant lawsuit immunity to the entities that oversaw employees or volunteers accused of abuse.

Lawyers defending organizations targeted by sexual-abuse claims, along with some plaintiffs lawyers, say bankruptcy provides a fair way to compensate victims, many of whom want to avoid the ordeal of a lawsuit and a potential trial. Moreover, organizations and insurers paying the settlements won’t agree to any deal that doesn’t shield them from additional liability, said Susan Boswell, a retired lawyer who represented dioceses in bankruptcies from Arizona to Minnesota.

“If you can’t have finality,” she said, “then you are not ever going to be able to get one of these cases done.”

America’s federal bankruptcy courts play a critical role in justice and commerce by giving businesses overwhelmed by debt an orderly process to settle with creditors during a reorganization or liquidation. Those debts can include liability from lawsuits over deadly products, fraud, sexual abuse or other wrongdoing.

The power of US bankruptcy courts to grant lawsuit immunity to organizations in bankruptcy, their leaders and affiliated entities has expanded over time. And so have the legal tactics of entities seeking Chapter 11 protection: Some corporations engulfed in scandals are now creating subsidiaries solely to absorb their lawsuit liability and declare bankruptcy.

Nonprofit organizations facing sexual-abuse lawsuits have pulled another page from the corporate bankruptcy playbook: In striking settlements, they typically seek “nondebtor releases” for their associated entities, such as religious schools and individual parishes. Such releases shield people and entities from lawsuits over issues taken up in bankruptcy settlements. By piggybacking on a nonprofit’s Chapter 11 filing, its affiliated organizations or leaders often get these liability shields without having to file for bankruptcy themselves.

Judges often appoint someone to advocate for the interests of potential victims who have not yet sued or made a claim in bankruptcy court. Known as future claims representatives, these appointees are often lawyers or financial professionals who are paid by the debtor and tasked with estimating the number of future claims and the funds needed to cover them. The reality, however, is that late filers often end up competing for smaller amounts than those who meet the deadline, according to court records reviewed by Reuters and attorneys involved in the proceedings. Unknown claimants become “numbers on a chart,” Rubino said.

A child sexual abuse victim is pictured here at a California state park, Dec 23, 2022. (CARLOS BARRIA / REUTERS)

Justice denied

A former Boy Scout, C, alleges a Scout leader abused him when he was a teenager. Reuters agreed to identify the former Scout, now 40, only by his first initial.

He sought compensation in the Boy Scouts bankruptcy in June, long after a deadline of Nov 16, 2020 for filing claims. C is now unlikely to recover much, if anything, from the $2.46 billion settlement the Boy Scouts reached with claimants alleging sexual abuse, his lawyer said. That’s because claimants who miss the deadline face a gauntlet of additional hurdles and conditions, according to C’s lawyer and a review of the Boy Scouts settlement terms.

The Boy Scouts bankruptcy reorganization plan, approved by a judge in September, halts all lawsuits against the Boy Scouts, local councils, churches and other organizations that chartered scouting activities.

The bankruptcy’s claims-filing rules take precedence over a recent law passed in California, where C says he was abused, that expanded sexual-abuse victims’ rights to sue. The bankruptcy proceedings generally trump state laws because bankruptcy courts are federal, and typically have the power to override state statutes and halt state lawsuits or court orders.

The ability to mount a defense deteriorates with the passage of time.

Marie T Reilly, Professor, Penn State Law in University Park

US Bankruptcy Judge Laurie Selber Silverstein reasoned in approving the Boy Scouts settlement that it was a better solution for victims than seeking compensation in trial courts.

Silverstein declined to comment for this story. In a July opinion approving aspects of the Scouts’ reorganization plan, she noted that insurance carriers, local Scouts councils and chartered organizations would not contribute to the settlement without receiving nondebtor releases from liability. She agreed with lawyers for the Boy Scouts and some claimants that the only alternative to a settlement was a “‘death trap’ of litigation with minimal recoveries in sight.”

“These boys – now men –  seek and deserve compensation,” the judge wrote, for “abuse which has had a profound effect on their lives and for which no compensation will ever be enough.”

Beyond questions of fair compensation, C said the bankruptcy is preventing him from getting his day in court against the Boy Scouts to present what happened to him.

C grew up in an unstable home in northern California. His mother considered the Boy Scouts a safe environment for her son. For years after a Scout leader allegedly abused him and other boys, C struggled with acknowledging that what had happened to him was wrong, he told Reuters. He had trusted his Scout leader.

Within the past couple of years, he spoke at length with another former Scout about the leader’s behavior, he said. The emotional conversation prompted C to reflect on the damage in his own life stemming from the abuse. He said in an interview that his own struggles relating to others began to make more sense. C lives with his mother, sometimes sleeps in his car and has struggled to find a steady career.

“I’m waiting to stand in front of a judge,” C said, and hoping for that judge to say: “‘What happened to you was wrong.’”

‘The priest would never do that’

Some plaintiffs’ attorneys say bankruptcy proceedings can provide a better way to compensate many sexual-abuse victims than trial courts. Victims often don’t want to go through the ordeal of suing their abusers or the organizations that may have enabled them, said Dan Lapinski, a Motley Rice LLC lawyer representing Boy Scouts claimants. For them, seeking compensation through bankruptcy can allow victims to file a claim confidentially and avoid reliving their trauma in open court.

“I have clients who fall into that category” in the Scouts matter, Lapinski said, noting that these victims might not have pursued their claim at all outside of bankruptcy court.

Financial coffers of individual dioceses are usually smaller than those of large corporations, said Boswell, the retired lawyer who has represented dioceses facing abuse allegations in bankruptcies. Expensive litigation cuts into the money available for compensation, she said, but a bankruptcy reorganization can attempt to pay all claimants equitably.

Still, there is often little left for claimants who come forward later, after bankruptcy filing deadlines pass.

In January 2020, a 59-year old former altar boy named Henry attended a church service in Minnesota on a visit back to the state to see family. After the service, Henry said, the priest spoke to parishioners about the financial impact of the 2018 bankruptcy of the local Winona-Rochester diocese, caused in part by sexual-abuse claims.

Henry knew the abuse first-hand. When he was 17, a priest assaulted Henry in a pool shower after swimming, he said in an interview. He had kept what happened to himself in part because he thought nobody would believe him, said Henry, who spoke on condition that he be identified only by his middle name.

Before clergy sexual-abuse scandals emerged worldwide, his community’s attitude was “the church would never do that, the priest would never do that,” he said. “You’re kind of squelched from the get-go.”

Finding out about the bankruptcy in church that day emboldened Henry to come forward, too, he said. Two days after the priest’s comments, he contacted a lawyer who filed a late claim on his behalf. But relatively little money — a maximum of $750,000 — had been set aside for claimants who came forward after a 2019 deadline. Henry received $20,000, which he described as “an almost laughable“ amount.

Henry could receive more money later, depending on how many additional claims are filed and how a trustee who determines payouts views his claim. But a final determination won’t be made until a deadline for filing late claims passes several years from now, according to documents Reuters reviewed. The judge in the case declined to comment.

By comparison, the settlement covering the 145 sexual-abuse claimants who filed on time was nearly $28 million. That would equate to about $190,000 per victim. The amount individual claimants might receive varies, depending on factors including the duration, severity and impact of their alleged abuse, according to court documents.

“What I don’t like is that they put some arbitrary cap on anybody who filed after” the deadline, Henry said.

Peter Martin, a spokesperson for the Winona-Rochester diocese, declined to comment on its bankruptcy proceedings. Martin did not respond to inquiries about Henry’s allegations of sexual abuse.

Power and trust

Statutes of limitations exist for good reason, some legal scholars say.

Historically, states enacted them to encourage plaintiffs to file timely lawsuits based on “reasonably fresh” evidence, said Marie T Reilly, a professor at Penn State Law in University Park, Pennsylvania. Reilly argues that allowing victims to sue long after their alleged abuse threatens the integrity of the legal system in the name of exacting retribution against institutions such as Catholic dioceses.

Over time, memories deteriorate, witnesses die and documents can go missing, she said. “The ability to mount a defense deteriorates with the passage of time,” Reilly said. 

The power of US bankruptcy courts to grant lawsuit immunity to organizations in bankruptcy, their leaders and affiliated entities has expanded over time

New York State Senator Brad Hoylman, a Democrat, sponsored the state’s bipartisan legislation reviving child sexual-abuse claims. He told Reuters he pushed the bill because it can be especially difficult for individuals to come forward with allegations against abusers who are often “in positions of power and trust.”

For thousands of victims with revived legal rights to seek accountability from institutions in trial courts, bankruptcy filings can be crushing.

Doug Kennedy was a teenage Boy Scouts camp staffer in upstate New York when a camp director raped him repeatedly and forced him to engage in other sexual activity, according to a lawsuit he filed. His case was halted by the Boy Scouts bankruptcy. In the years after the assaults, he told Reuters, he buried his memories of the abuse.

The man Kennedy accused of abuse, Bruce DeSandre, declined to comment through his attorney. In a court filing, DeSandre denied Kennedy’s allegations of sexual abuse and argued that New York state’s revival law was unconstitutional.

When Kennedy, now a college professor, finally came to grips with his abuse, the statute of limitations for filing a lawsuit had passed.

In January 2019, he retreated to his office at Virginia Wesleyan University, drew the shades and watched a streaming feed of the New York state legislature’s vote to change the law and allow victims like Kennedy to file lawsuits over abuse that occurred long ago.

“I broke down, completely broke down,” he said.

He thought he would finally get a chance to get accountability for what was allowed to happen to him. Later that year, in August, he filed his lawsuit against defendants including a Boy Scouts local council and DeSandre.

About six months later, the Boy Scouts filed for bankruptcy. Kennedy said his feeling of hope drained away when he heard the news.

“Bankruptcy is not justice,” he said. “Bankruptcy is business.”US 


New Domain Name Goes into Sunrise Phase on 2nd January 2023

London, UK, December 30, 2022 – (SEAPRWire) – UK Intis Telecom LTD announces the launch of the new top-level domain name zone (TLD) – This new domain name extension represents a new & intelligent solution to the ever-depleting availability of great, short, and easy-to-remember domain names in other zones. 

The domain name has been in Conditional General Availability (CGA) phase over the past few months before announcing its official Sunrise phase, a period for brand & trademark owners from all over the world to access the registry and reserve the domain name before anyone else.

The domain was acquired in 2021 for $3.8 million, marking it as the biggest domain sale of the year. It was purchased by UK-based Intis Telecom, which has been operating globally in the telecommunications and technology sphere for over 14 years, its operations spanning 180 countries across the globe. 

All websites that use the extension will have an opportunity to reach a global audience, thanks to its resemblance to the IT & Internet industries and the various technological abbreviations that IT represents. Last but not least, it’s also a good opportunity for businesses that target the Italian market, being short for Italy. Launch Schedule

  • The launch schedule includes a special phase for registered trademark holders and additional phases for the most-interested and active parties before it is made globally available to all. Phases start and end at 00:00 UTC as per the below timetable:
  • Sunrise Phase: January 2 – January 30, 2023 (28 days) – A phase for all trademark holders to register domains matching their approved trademarks in any country.
  • Settlement Phase: January 31 – February 2, 2023 (2 days) – A period to review the trademark registration objections & disputes.
  • Landrush Phase: February 3 – February 18, 2023 (15 days) – An early access phase for those tempted to be the first among the registrants to get a catchy domain name before the rest of the registrations.

General Availability (GA): Starting on February 19, 2023 – Registration will be open to the public. Anyone who wishes can register a name ending in on a first-come, first-served basis.

The domain name can be registered via various well-known international domain name registrars. Official accredited registrars include, CentralNic Group,, Marcaria, CSC Global, Encrica,, dotNICE, INWX, Nomeasy, MarkMonitor, SafeBrands SAS, Route Africa, & Webnic. Many other registrars are currently in the accreditation process and will be announced soon.

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Contact: Joe Alagna



Telephone: +44 7392000000

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US House committee releases Trump tax returns

Former US president Donald Trump speaks at a rally on Aug 5, 2022, in Waukesha, Wisconsin. (MORRY GASH / AP)

A Democratic-controlled US House of Representatives committee released six years of former president Donald Trump's tax returns to the public on Friday in an extraordinary move days before Republicans are due to take control of the chamber.

Release of Trump's redacted returns for 2015 through 2020 caps a multi-year battle between the Republican former president and Democratic lawmakers that was settled only last month by the US Supreme Court.

Earlier this month, the House committee investigating the Jan 6, 2021, attack on the US Capitol by Trump's supporters asked federal prosecutors to charge him with four crimes including obstruction and insurrection for his role in the deadly riot

It is the latest blow for Trump, 76, who was impeached twice by the Democratic-led House only to be acquitted both times by the US Senate, and now faces multiple legal woes as he mounts a 2024 reelection bid.

Earlier this month, the House committee investigating the Jan 6, 2021, attack on the US Capitol by his supporters asked federal prosecutors to charge him with four crimes including obstruction and insurrection for his role in the deadly riot.

House Ways and Means Committee Chairman Richard Neal requested the returns in 2019, arguing that Congress needed them to determine if legislation on presidential tax returns was warranted.

ALSO READ: Trump paid no income tax in 2020, reported losses in office

Republicans said the move could lead to the political weaponization of individual tax returns and warned that party members who take over the panel next month would face pressure to pursue a similar path against high-profile Democrats.

Trump, who took office in 2017, was the first presidential candidate in decades not to release his taxes. He sued the committee to try to keep them private but the US high court ruled in the committee's favor.

In a report last week, the committee outlined its findings from its examination of the documents, saying the Internal Revenue Service broke its own rules by not auditing Trump for three out of four years while he was president. Details previously released by the panel showed Trump paid no income tax in 2020, his final full year in office, despite millions of dollars in earnings from his sprawling business empire.

The records show Trump's income and tax liability fluctuated dramatically from 2015 through 2020, during his first presidential bid and subsequent term in office. They show Trump and his wife Melania Trump claimed large deductions and losses and paid little or no income tax in several of those years.

READ MORE: Capitol riot panel's report sets out case to try Trump

Democrats were on a tight timeline to find a way to handle the returns once they obtained them, given that Republicans will take control of the House on Tuesday after winning a slim majority in November's midterm elections.

The Democratic-controlled House passed a bill before it left on its winter recess that would mandate that the tax-collecting Internal Revenue Service complete audits of presidents' tax filings within 90 days of their inaugurations.


Russia: Assigned targets in Ukraine neutralized after strike

A volunteer clears the rubble of a destroyed house as a result of shelling in the village of Moshchun, Kyiv region, on Oct 29, 2022. (SERGEI CHUZAVKOV / AFP)

MOSCOW/KIEV – Russia's armed forces launched a massive strike with high-precision long-range air- and sea-based weapons at Ukrainian military targets and energy facilities needed for the operation of Ukraine's defense industry, the Defense Ministry said Friday.

All the assigned targets have been neutralized after the attack, which was carried out on Thursday. The strike was able to stop the production and maintenance of Ukrainian military hardware and ordnance, and disrupt the redeployment of Ukraine's reserve forces from Western regions in Ukraine, it said.

The Kiev City Military Administration said on Telegram that five drones targeting the Ukrainian capital were shot down overnight

Also on Friday, Ukrainian air defense shot down all 16 drones launched by Russia in the new strikes overnight through Friday, said the Air Force Command of the Ukrainian Armed Forces.

Russia attacked Ukraine with Iranian-made kamikaze drones Shahed-136 and Shahed-131 from the southeast and the northeast directions, the Ukrainian Air Force Command said in a statement on Facebook.

ALSO READ: Efforts needed to resolve conflict between Russia and Ukraine

The Kiev City Military Administration said on Telegram that five drones targeting the Ukrainian capital were shot down overnight.

On Thursday, the air defense of Ukraine shot down 54 out of 69 missiles fired by Russia  morning in a fresh wave of air strikes on Ukraine, Valery Zaluzhny, chief commander of the Armed Forces of Ukraine, said on Telegram.

The Russian military attacked targets in Ukraine with air and sea-based cruise missiles and anti-aircraft guided missiles to the S-300 systems, Zaluzhny said.

Kyrylo Budanov, chief of the Main Intelligence Directorate of the Ukrainian Defense Ministry, said that he sees no signs of any preparations for invading Ukraine from Belarus, the Interfax-Ukraine news agency reported Thursday.

"As of now, I don't see any signs of preparations for an invasion of Kiev or northern areas from Belarus," Budanov said.

ALSO READ: Moscow: West using Ukraine to launch cyberwar against Russia

Meanwhile, explosions were heard in Kiev on Thursday morning, the Russian Defense Ministry's Zvezda broadcaster reported, citing Ukrainian media outlets.

Eyewitnesses reported strong blasts in the northwest of the Ukrainian capital and its outskirts, and according to some people in Kiev, glass was shaking in apartment buildings, it added.

The Ukrainian Defense Ministry said on Thursday it stands ready to investigate the S-300 missile falling in the south of Belarus.

"The Ukrainian side, reserving the unconditional right to defense and protection of its own sky, at the same time, stands ready to conduct an objective investigation in Ukraine," the ministry said in a statement.

READ MORE: IMF: Ukraine to require at least $39.5b external financing in 2023

The incident that occurred in the skies over the territory of Belarus is a result of repelling a massive Russian missile strike, according to the statement.


S. Africa mourns victims of tanker blast as toll jumps to 34

South African Police Service (SAPS) officers and forensic experts stand beside bodies in Boksburg, a city east of Johannesburg, on Dec 24, 2022, after nine people died and 40 others were injured when a fuel tanker exploded. (PHOTO / AFP)

JOHANNESBURG – The death toll from a gas tanker explosion in Johannesburg on Christmas Eve has increased to 34 from an earlier estimate of 27, the provincial health department said on Friday.

The blast tore the roof off the emergency department at the Tambo Memorial hospital in the city's Boksburg suburb on Saturday, while also injuring scores of bystanders, destroying houses and several cars.

The victims include 11 health workers and 23 members of the public, a spokesperson said, adding that the numbers were constantly being updated

"The Department of Health can confirm that the death toll from Boksburg Explosion incident has risen to 34 as of Friday, 30 December 2022," a spokesperson for the Gauteng Department of Health said in a statement.

The victims include 11 health workers and 23 members of the public, the spokesperson said, adding that the numbers were constantly being updated.

ALSO READ: Death toll from S. Africa's gas explosion rises to 15

The severe nature of the burns inflicted by the blast was expected to result in an increase in the number of deaths, authorities had earlier said.

Victims included children as young as nine, according to a message shared by the health department on social media commemorating a memorial for the victims.

Families and friends of the victims, along with health minister Joe Phaahla gathered in the Boksburg Civic Centre on Friday morning for a memorial service and paid their respects by lighting candles.

READ MORE: At least 4 dead after gas explosion in Sicily

President Cyril Ramaphosa has promised relief to the victims and said authorities were investigating the incident.



HONG KONG, Dec 30, 2022 – (亞太商訊 via – 近期,多只中概股選擇以介紹方式回歸港股市場,且雙重主要上市亦漸漸成為主流。12月30日,金山雲(03896.HK)正式登陸港交所。此番金山雲以介紹形式在港交所主板雙重主要上市,不涉及新股融資。同時,金山雲繼續在納斯達克主要上市地位並交易。這樣既保護了已有股東不被稀釋,也為潛在投資人提供更廣闊的交易平臺。





聚焦核心穩紮穩打 盈利能力進一步提升





Copyright 2022 亞太商訊. All rights reserved. (via SEAPRWire)


Kingsoft Cloud’s Dual Primary Hong Kong Listing: Resilience Rooted in Technology-based Business, High-quality Development Expected from Improving Profitability

HONG KONG, Dec 30, 2022 – (ACN Newswire via – On December 30, Kingsoft Cloud (3896.HK) was officially listed on the Main Board of the Hong Kong Stock Exchange, becoming the “finale” of homecoming listing of Chinese ADRs in 2022. The dual-primary listing provides investors with greater protection and flexibility in terms of trading venues and hours, while listing by way of introduction prevents dilution and regarded as responsible for existing shareholders.

With deep devotion on and cultivation of the industry for ten years, Kingsoft Cloud adhered to building a technology-based business, stayed at the frontier of cloud-native, hybrid cloud, big data and other cutting-edge technologies, and achieved industry practice-and-technology integration. In combination with in-depth understanding of strategically selected verticals, Kingsoft Cloud accomplished fast growth in both business scale and financials. Total premium customers increased from 243 in 2019 to 597 in 2021; revenue CAGR between 2019 and 2021 was 51.3%, significantly outpacing the broader industry’s 36.4%.

In the past year, the overall industry was under pressure due to market headwinds and the impact of COVID-19. Kingsoft Cloud made proactive adjustments, allocated resources in favor of more profitable products and projects to achieve improved sustainability, profitability and operating cash flow. A number of analysts noted that the Company’s gross margin improved significantly in recent 3 quarters, and recorded operating cash inflow for 2 consecutive quarters, well received by the market such that the Company’s share price has nearly doubled from the end of September to December 28. Analysts pointed out that such financial improvements are expected to continue, laying a solid foundation for the stock price to further recover.

Kingsoft Cloud has always been strongly supported by the strategic shareholders Xiaomi and Kingsoft Group. According to the management in recent results roadshow, Kingsoft Cloud, in its future development, will further strengthen collaboration with strategic shareholders in their digital transformation, as well as with the broader ecosystem, and actively explore opportunities in high-value verticals. It is noted that there are 800+ enterprises in the Lei Jun Ecosystem, among which Xiaomi and Kingsoft Group alone have many businesses that are inherently highly compatible with cloud computing, such as office collaboration, gaming, IoT, smartphone cloud storage and computing, as well as electric vehicle. All of these are potential growth opportunities that Kingsoft Cloud may actively explore out of its proximity advantages.

Zou Tao, Vice Chairman and CEO of Kingsoft Cloud, said, “Listing in Hong Kong is an important milestone in the Company’s 10th anniversary, and the Company stands ready for the new decade. First, we will continue to invest in technology, focus on core business, and return to the essence and original aspiration of cloud; second, we will evaluate customers and projects, control costs, balance revenue scale and profitability; meanwhile, we will strengthen ecological synergy, tap into high-quality business opportunities in strategically selected verticals.”

He Haijian, CFO of Kingsoft Cloud, also said, “Primary listing in Hong Kong will broaden our investor base, facilitate our participation in Hong Kong Stock Connect, and open up investment cooperation channels to more Chinese mainland investors. We will maintain the structure of the one-share-one-vote, which is rare among Chinese ADRs, and widely respect and adopt the advice of public investors. We will continue to attach importance to ESG and data security to ensure the stability and security of our services. “

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)


Beauty Farm Medical and Health Industry Inc. Announces Proposed Listing on the Main Board of SEHK, Offer price at HK$19.32 per share

HONG KONG, Dec 30, 2022 – (ACN Newswire via – Beauty Farm Medical and Health Industry Inc. (“Beauty Farm” or “Company”, stock code: 2373), the largest provider of traditional beauty services in China, today announces the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”).

Beauty Farm plans to offer an aggregate of 40,536,500 Offer Shares under the Global Offering (subject to the Over-allotment Option), consisting of 36,482,500 International Offer Shares (subject to reallocation and the Over-allotment Option) and 4,054,000 Hong Kong Offer Shares (subject to reallocation), at a price of HK$19.32 per share.

The Company will start its public offering in Hong Kong at 9 a.m. on 30 December, 2022 (Friday) and end at 12 noon on 6 January, 2023 (Friday). Dealings in shares on SEHK are expected to commence on 16 January 2023 (Monday), with the stock code of 2373 in board lots of 500 shares each.

Morgan Stanley Asia Limited, Haitong International Capital Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors; Morgan Stanley Asia Limited, Haitong International Securities Company Limited and Huatai Financial Holdings (Hong Kong) Limited are the Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Managers.

Beauty and health management service provider with diversified brand portfolio in China

Beauty Farm is a leading player of the chain service brand in China’s beauty and health management service industry, which has large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. According to Frost & Sullivan, Beauty Farm is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6% respectively, as measured by revenue in 2021. The Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle. As of June 30, 2022, the overall service network of Beauty Farm comprised 352 stores, including 177 direct stores and 175 franchised stores. Among the direct stores, 84 stores were located in tier-one cities and 73 stores were located in new tier-one cities.

Constant evolution of business model in response to market demand, offering clients overall beauty and health management services

As the leading chain brand in China’s beauty and health management service industry, Beauty Farm has provided traditional beauty services to clients for nearly three decades. With insights into clients’ increasingly diversified demand accumulated through years of services, the Company has extended its offerings by providing more sophisticated services such as aesthetic medical services since 2011. Thereafter, the Company commenced to build its subhealth assessment and intervention service capacity in 2018, in response to the rising demand of subhealth assessment and intervention services as a result of consumption upgrade and China’s rising prevalence rate of subhealth status. Counting the revenue generated in 2021, traditional beauty services, aesthetic medical services, and subhealth assessment and intervention services represented 58.8%, 37.8% and 3.4% of the total revenue for the year. These service offerings of Beauty Farm complement each other and create a synergistic effect for the overall operations of the Company. The Company’s long history in traditional beauty services has positioned the Company uniquely in the industry and fueled the revenue growth without significant increase in customer acquisition costs as the Company has become many members’ lifelong trusted advisor on health and beauty. And 21.7% and 21.2% of members of the Company’s traditional beauty services in 2021 and the six months ended June 30, 2022, respectively, purchased aesthetic medical services or subhealth assessment and intervention services, which is expected to further grow in the future. Likewise, the expansion of aesthetic medical services and subhealth assessment and intervention services can also further boost the growth of traditional beauty services going forward.

Standardized services supported by digitalized platform

Beauty Farm has established an integrated service platform to ensure high-quality services to its clients in a consistent manner across all stores. The digitalized platform of the Company is supported by standardized operating procedures and digital infrastructure covering stringent quality control, training system and supply chain management. The Company achieved one of the few highest service personnel annual retention rates in 2021 within the beauty and health management service industry. Among all the service personnel who have stayed with us for more than one year, they have an average of 6.1 years of retention. The standardization and digitalization of the business platform provides scale advantages across various aspects of the Company’s operations that can be leveraged by its stores and service personnel. The integrated service platform is capable of consolidating and processing operational data accumulated from various systems across the store network. The Company also applies data mining and data analytics to obtain valuable insights to profile its clients’ transaction patterns, consumption habits, and lifetime client value. Such tech-enabled enhancements allow the Company to customize its services according to clients’ needs so as to maintain their stickiness and identify cross-selling opportunities. The platform-based operating model allows Beauty Farm to standardize various aspects of its operations to improve both client experience and the service performance of its service personnel. In addition, as the Company continues to accumulate and analyze digital information from its day-to-day business operations, the Company can further improve its operational efficiency.

A large client base of active members supported by CRM system

The comprehensive service offerings of Beauty Farm have attracted a large base of active clients, which is supported by a comprehensive client service system. In 2021, the direct stores of the Company served 77,356 active members, which was increased by 12.5% in 2020. The active members from direct stores on average made 10.8 visits (2020: 10.2 visits) and spent RMB20,832 in 2021 (2020: RMB20,151). 80.7%, 82.1%, 84.6% and 77.0% of the active members in 2019, 2020, 2021 and the six months ended June 30, 2022 made multiple purchases of the Company’s services in the same period, respectively. In addition to the increasing client volume in direct stores, the franchised stores of the Company served 27,916 active members in 2021 and 22,552 active members in the six months ended June 30, 2022.

Sustainable development supported by organic growth and strategic acquisitions

Beauty Farm has a proven track record of rapidly expanding its geographic footprint across China and has achieved rapid and sustainable business growth through both organic growth and strategic acquisitions. The scalability and replicability of its business is evidenced by its ability to open new stores rapidly. The Company opened 45 new direct stores from 2019 to June 30, 2022. Beauty Farm is able to ramp-up its new stores and achieve profitability efficiently. Contributed by the Company’s long-term business relationship with prime shopping malls and the ability to bring strong footage to the venue, the typical lead time from the completion of site selection to store opening is approximately three months. From 2014 to June 30, 2022, a new traditional beauty service store on average achieved initial breakeven in eleven months after commencement of operation.

Beauty Farm experienced a successful track record of identifying, acquiring and integrating stores into its network. The Company has completed 20 acquisitions in beauty and health management service industry from 2014 to June 30, 2022, most of which have successfully enhanced the Company’s business offerings and management team. Upon the completion of integration, acquired stores typically witness improved business performance and rapid client expansion. For example, the acquisition of Palaispa shows the Company’s acquisition power and capabilities in integration. Revenue generated from Palaispa members and franchisees increased from RMB102.4 million in 2017 to RMB185.7 million in 2021 at a CAGR of 16.0%. Those acquired stores were smoothly integrated into the Company’s network, ensuring further synergies and value creation. Going forward, Beauty Farm will continue to identify and evaluate acquisition opportunities in high-quality stores to capture growth opportunities.

The success of Beauty Farm is also attributable to its visionary and dedicated management with extensive industry experience, as well as strong shareholder support. Since 2013, CITIC PE, who has extensive experience managing and growing companies in the beauty and health management service industry, has been working closely with Beauty Farm to establish a standardized and disciplined chain business with nationwide footprint and has made important contributions to the company’s strategic formulation, merger and expansion, executive recruitment, brand and design, human resources, supply chain, marketing, finance and other aspects of management improvement.

Looking forward, Beauty Farm plans to carry out below key growth strategies to realize its development, including strategically expanding its service network and marketing channels to expand its client base and increase brand awareness; further enhancing its operational efficiency and client experience through standardization and digitalization of its system; improving client loyalty and fulfilling clients’ evolving needs by introducing new technologies, equipment and products, and expanding its service offerings; continuing to cultivate, recruit and retain high-caliber talent and strengthen its human resources management mechanism; and integrating industry resources and promoting the development of industry standards by deepening cooperation with upstream suppliers and sharing its industry and management experience.

Beauty Farm Medical and Health Industry Inc.
Beauty Farm Medical and Health Industry Inc. (“Beauty Farm” or “Company”, stock code: 2373) is a leading player in China’s beauty and health management service industry, which has large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. According to Frost & Sullivan, Beauty Farm is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6% respectively, as measured by revenue in 2021. Leveraging 29 years of industry experience and adapting to evolving client demand, the Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle.

This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Beauty Farm Medical and Health Industry Inc. For further information, please contact:

Porda Havas International Finance Communications Group
Telephone: 852 3150 6788

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)


ACROMETA receives LOA for S$6.1 million design and build works from a global clinical research organisation

SINGAPORE, Dec 30, 2022 – (ACN Newswire via – AcroMeta Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, has received a letter of award (“LOA”) for the design and build of laboratory and office space worth approximately S$6.1 million from a global clinical research organisation that helps companies conduct clinical development of drugs or medical devices (the “Project”).

The Project site work is commencing soon and a binding contract would be executed in due course. In the unlikely event that the execution of contract is not followed through, the Group is safeguarded as it would be entitled to claim a maximum value of approximately S$1.8 million for value of works performed.

Said Mr Lim Say Chin, Executive Chairman, “We are greatly encouraged that the Project involves a new customer in the biotechnology space. This speaks of the confidence that our customers have in our capabilities. We will continue to work hard towards delivering quality services, leveraging on our established track record and proven expertise as controlled environment specialist engineers.”

The Project is expected to contribute positively to the earnings per share and net tangible assets per share of the Group for the current financial year ending 30 September 2023.

To the best of the Directors’ knowledge, none of the Directors and controlling shareholders of the Company have any interests, direct or indirect, in the Project, other than through their respective shareholdings in the Company.

About ACROMETA Group Limited (SGX Stock Code: 1CH1)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA’s business is divided into two main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. The company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit

Media and Analysts Contact:
ACROMETA Group Limited
Mr. Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166

This media release has been reviewed by the Company’s sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906,

ACROMETA Group Limited: [SGX: 43F] [BIC: ACRO:SP] [RIC: ACRO.SI],

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)


美麗田園醫療健康產業有限公司宣佈於港交所主板上市計劃 每股作價19.32港元

HONG KONG, Dec 30, 2022 – (亞太商訊 via – 中國最大的傳統美容服務提供商美麗田園醫療健康產業有限公司(「美麗田園」或「公司」,股份代號:2373),今天宣佈於香港聯合交易所有限公司(「聯交所」)主板上市計劃。











全面的服務組合讓美麗田園吸納了龐大的活躍客戶群,並得到全面客戶服務系統支持。於2021年,公司直營店服務77,356名活躍會員,較2020年上升12.5%,活躍會員平均到店10.8次(2020年:10.2次)及平均消費人民幣20,832元(2020年: 人民幣20,151元)。2019年、2020年、2021年及截至2022年6月30日止六個月,活躍會員中的80.7%、82.1%、84.6%及77.0%分別於同期多次購買了公司的服務。除了不斷增長的直營店客戶數量外,於2021年,美麗田園的加盟店服務了27,916名活躍會員,並於截至2022年6月30日止六個月服務22,552名活躍會員。








電話︰852 3150 6788

Copyright 2022 亞太商訊. All rights reserved. (via SEAPRWire)


Yoga’s Kashmir Connection: Time for Revitalisation

SINGAPORE, Dec 29, 2022 – (ACN Newswire via – The social tapestry of the valley of Kashmir is vibrant, diverse and layered. From the relics of its Buddhist past to its long history of association with Vedic practices, Kashmir is truly as multifaceted as it can get. Apart from its resplendent beauty, Kashmir has also been at the forefront of leading the mantle as a site of spirituality. Its connection to Yoga, in particular, traces its history back to the time of Adi Shankara, who is believed to have visited the valley in the 8th century CE. A proponent of Advaita philosophy, Adi Shankara advocated ideas related to spiritual oneness, attained as it was to be through meditative practices and consciousness about the Self. It is no surprise then that the Valley of Kashmir is full of places, monuments and sites named after the founder of Advaitism.

Speaking of Adi Shankara’s cultural import, the Jyeshteshwara Temple, which is the oldest temple in the Kashmir Valley, is more commonly known as Shankaracharya Temple. Dedicated to the Hindu God, Lord Shiva, this temple and its adjacent land have been declared sites of national importance. They are protected by the Archaeological Survey of India. Also, it is interesting to note that despite its inclusion within the folds of Hinduism, the temple and the hill on which it is located have been relevant to Buddhist and Persianate cultures alike. Accordingly, where the architecture of this temple is essentially Buddhist, the hill, which otherwise goes by the name of Gopadiri, is also known as Koh-e-Suleman and Takht-i-Sulaiman.

In addition to being a known seat of spirituality, the Shankaracharya Temple has a historic connection to Yogic practices. Connecting yoga to meditation, it was Adi Shakara who came to establish a tradition of meditative contemplation that could help in attaining a sense of spiritual oneness of the Self, i.e. Atman with the Universal reality, i.e. Brahman. For Shankaracharya, yoga was essentially a tool that could help in steadying one’s mind and which, when combined with the study of the Upanishads, could help in attaining moksha, or salvation. Rejecting the need for an absolute suppression of desire in favour of the conscious withdrawal of the mind from sense objects, Adi Shankara approached yoga, particularly Jnana Yoga (yoga of knowledge), as the most optimal means to achieving higher knowledge about oneself. Indeed, the goal self-realisation is not simply attained through the renunciation of the material world. Instead, spiritual awakening often comes about as a result of a disciplined training of the mind and body, in which yogic meditation can be of immense help.

Latching on to this potential of yogic practices, the members of Yoga Library Singapore made their way to the Kashmir Valley last month. Having conducted yoga retreats in South East Asia, including Bali, Bangkok and Vietnam, their recently organised retreat in Kashmir marked their maiden foray into the Indian yoga market. In fact, in a way, choosing Kashmir as their first port of entry, so to speak, allowed the Library to give Kashmir its due by highlighting the contribution of the Valley to the larger yogic landscape.

According to Anand Goyal, co-founder of the Library, Kashmir Shaivism Yoga is at least 1200 years old. In fact, Goyal went on to observe that unlike what may have ordinarily been thought of, “yoga is not frowned upon in the Kashmir Valley (which is predominantly Muslim)”. Apart from building on the vast historical capital that yoga has in the Valley, the Library maintains that the place itself, courtesy of its pitcuresque environs, is a “good place to do yoga “. For that matter, Goyal believes that the Library came to Kashmir at an appropriate juncture just when the Valley is recovering from the after-effects of COVID and lockdowns.

Kashmir’s growing interest in yoga and other meditative practices was recently demonstrated as the union territory came to host a “Yogasana” competition. Organised in Srinagar by the Jammu and Kashmir Sports Council and Jammu and Kashmir Yogasana Association, more than 300 more people competed in different age categories in the event. According to reports, the competition was not only meant to give the youth of the Valley an opportunity to participate and compete at national and international events on yoga. But, at the same time, use such collective events as occasions to create further awareness about social evils, such as drug abuse, with the objective of combating them.

The newfound momentum around yoga in Kashmir comes as an exciting and encouraging new development. Apart from helping the Valley promote itself as a spiritual retreat for the domestic audience, the international traction it is gaining on these grounds will certainly help Kashmir project itself in a new and different light.

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)


SinoHytec Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange, Offer Price Between HK$60 and HK$76 per H Share, Raise up to HK$1,540.7 million

HONG KONG, Dec 29, 2022 – (ACN Newswire via – The leading provider of fuel cell systems in China – Beijing SinoHytec Co., Ltd. (“SinoHytec” or the “Company”, Stock Code: 2402), today announced the proposed listing of its shares on the Main Board of the Stock Exchange of Hong Kong Limited ( the “Hong Kong Stock Exchange”).

SinoHytec plans to offer an aggregate of 17,628,000 H shares under the Global Offering (subject to the Over-allotment Option), comprising an International Offering of 15,865,200 H shares (subject to Reallocation and the Over-allotment Option), representing 90% of the initial offer shares; and Hong Kong Public Offering of 1,762,800 H shares (subject to Reallocation), representing 10% of the initial offer shares), at a price range between HK$60 and HK$76 per Offer Share. The Hong Kong Public Offering will commence at 9 a.m., December 29, 2022 (Thursday), and close at 12:00 noon on January 5, 2023 (Thursday). Dealings in the shares of SinoHytec on the Main Board of the Hong Kong Stock Exchange is expected to commence on January 12, 2023 (Thursday), with the stock code 2402 and in board lots of 50 Offer Shares each.

Guotai Junan Capital Limited and Giraffe Capital Limited are the Joint Sponsors.

SinoHytec is a leading provider of fuel cell systems in China, focusing on the design, development and manufacture of fuel cell systems and stacks (a key component of the system) mainly for commercial vehicles, such as buses and trucks. According to the China Insights Industry Consultancy Limited Report (“CIC Report”), the company ranked first in the PRC fuel cell system market in terms of the total power output of fuel cell systems sold* in 2021, with a market share of 27.8%; and in 2021, fuel cell systems accounted for approximately 0.8% of the total sales volume of new energy systems for commercial vehicles, while lithium battery systems accounted for the rest of the total sales volume. As of June 30, 2022, the company’s fuel cell systems were installed on 80 models of fuel cell vehicles that are featured in the MIIT New Energy Vehicle Catalogs, ranking us first in the industry.

Leader in China’s fast growing fuel cell system market

Established in 2012, the company is a pioneer in the R&D and commercialization of fuel cell systems in China and started batch production in 2016. The company also participated in the fuel cell vehicle development and commercialization scheme of the United Nations Development Programme in China and witnessed the progress of the PRC fuel cell industry from the R&D phase to pilot testing and to commercialization. The company’s fuel cell systems are installed on commercial vehicles operating across various PRC cities, including Beijing, Zhangjiakou, Shanghai, Chengdu, Zhengzhou and Zibo.

As of December 20, 2022, the company’s fuel cell systems have powered over 2,800 fuel cell vehicles on the road in China. These vehicles had an average mileage of around 40,000 kilometers per vehicle, accumulating over 108.6 million kilometers and 2.3 million hours of operations, which built an industry leading record.

Strong research and development capabilities

The Company adheres to a R&D principle of “Advance Research”, “Continuous Development” and “In-depth Promotion”. The key objectives of the Company R&D and product testing activities are to optimize and upgrade the company products’ adverse weather capabilities, durability, reliability, efficiency, safety and economy. As of June 30, 2022, the Company has establised an outstanding R&D team of 270 members. The Company also cooperated with leading research universities in China, such as Tsinghua University, to facilitate the development and commercialization of innovative fuel cell technologies so that the Company can respond to the fast-changing market demands.

The Company’s R&D team has progressively developed the 30kW, 40kW, 50kW, 60kW, 80kW, 100kW, 120kW and 150kW models of fuel cell systems over the years. In particular, the Company launched the 240kW high power output model in December 2021, which is the first automotive fuel cell system in China that can reach a rated power of 240kW.

In addition, the Company participated in and achieved significant results in various R&D projects sponsored by the PRC government. As of June 30, 2022, the Company had over 590 patents, including over 210 invention patents, over 360 utility model patents, and 20 design patents. In addition, the Company has more than 590 patent applications that have been accepted by the State Intellectual Property Office of China.

* Sales volume of fuel cell systems comprises only direct sales to fuel cell vehicle manufacturers.

Solid partnerships with major PRC commercial vehicle manufacturers

The Company has built solid long-term partnerships with major commercial vehicle manufacturers in China, such as Beiqi Foton, Yutong Bus and Geely Commercial Buses, through jointly undertaking national-level R&D projects and codeveloping, demonstrating and testing fuel cell vehicles. In particular, Beiqi Foton and Yutong Bus purchased the Company’s fuel cell systems on order basis since 2016 and 2018, respectively, for the production of their fuel cell vehicles. The Company codeveloped with Toyota and Beiqi Foton transit buses using the Company’s fuel cell systems which are designated as the official transport vehicles at the Beijing 2022 Olympic Winter Games. As of June 30, 2022, the Company has sold fuel cell systems to over 20 commercial vehicle manufacturers whose total fuel cell vehicles sold in 2021 represented nearly 60% of the market share in China. In addition, Beiqi Group and Yutong Bus have become the company Shareholders and strategic partners, representing the recognition of us by the downstream players of the fuel cell vehicle industry.

Integrated components supply system and close cooperation with suppliers

After years of dedication, the Company built a comprehensive procurement system with local suppliers. During the Track Record Period, the Company has established a relatively stable long-term relationship with over 300 suppliers in China, providing parts such as MEA and air compressors. During the Track Record Period, the company had localized the supply of MEA and procured more raw materials from local suppliers each year.

Mr. Zhang Guoqiang, Chairman, Executive Director and General Manager of SinoHytec said, “Our mission is to leverage advanced hydrogen fuel cell technologies to contribute to China’s carbon emission peak and carbon neutralitygoal and empower global energy transition. We are committed to becoming a global leader in hydrogen fuel cell technologies for promoting a sustainable and low-carbon future. New energy vehicle development is strategically significant to China’s energy security and environmental protections. We intend to achieve this goal by implementing the following strategies: further advance the R&D of fuel cell systems and core components; expand the production capacity of fuel cell stacks to meet the growing market demand and achieve economies of scale; strategically expand our customer base and geographical coverage; expand and strengthen our supply chains; and improve our brand awareness and promote the application of fuel cell systems. We will grasp the opportunities arising in future trend and development of the industry, leverage on our competitive advantages to further consolidate SinoHytec’s market position, and create the greatest value for shareholders and investors.”

Beijing SinoHytec Co., Ltd.
Fact Sheet

Information on the Global Offering:
Number of Offer Shares under the Global Offering: 17,628,000 H Shares (subject to the Over-allotment
Number of Hong Kong Offer Shares: 1,762,800 H Shares (subject to reallocation)
Number of International Offer Shares: 15,865,200 H Shares (subject to reallocation and the Over-allotment Option)
Maximum Offer Price: HK$76.00 per H Share, plus brokerage fee of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565% (payable in full on application in Hong Kong dollars and to refund)
Board Lot: 50 H Shares
Start of the Hong Kong Public Offering: 9:00 a.m., December 29, 2022 (Thursday)
End of the Hong Kong Public Offering: 12:00 noon, January 5, 2023 (Thursday)
Announcement of Allotment Results: January 11, 2023 (Wedsnesday)
Expected Listing Date: January 12, 2023 (Thursday)
Stock Code: 2402

Use of Proceeds:
The Company estimates that it will receive net proceeds of approximately HK$1121.8 million from the Global Offering, after deducting the underwriting commissions, fees and estimated expenses payable by the Company in connection with the Global Offering, assuming that the Over-allotment Option is not exercised and assuming an Offer Price of HK$68 per Share (being the mid-point of the indicative Offer Price range). The Company intends to use the net proceeds for the following purposes:

1) Approximately 75.0% (approximately HK$841.2 million) will be used to fund the research and development in the next three years;
2) Approximately 15.0% (approximately HK$168.4 million) will be used for improving the brand recognition through product promotion and multi-channel marketing in the next three years;
3) Approximately 10.0% (approximately HK$112.2 million) will be used for working capital and other general corporate purposes.

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)


億華通宣佈於香港交易所主板上市計劃 每股H股介乎60港元至76港元 集資額最多1,540.7百萬港元

HONG KONG, Dec 29, 2022 – (亞太商訊 via – 中國領先的燃料電池系統製造商── 北京億華通科技股份有限公司 (「億華通」或「公司」,股份代號:2402),今天宣佈於香港聯合交易所有限公司(「香港交易所」)主板上市計劃。

億華通將全球發售17,628,000股H股(視乎超額配股權行使與否而定),其中15,865,200 股H股將作國際發售(可予重新分配及視乎超額配股權行使與否而定),佔初步發售股份總數90%;餘下1,762,800股H股將於香港作公開發售(可予重新分配),佔初步發售股份總數10%,發售價介乎60港元至76港元。億華通將於2022年12月29日(星期四) 開始於香港公開發售,並於2023年1月5日(星期四) 截止。公司的股份預計將於2023年1月12日(星期四)於香港聯交所主板開始買賣,股份將按每手買賣單位50股買賣,股份代號爲2402。


億華通是中國領先的燃料電池系統製造商,主要為客車及貨車等商用車設計、開發並製造燃料電池系統及電堆(系統的核心零部件)。根據灼識諮詢報告,按2021年燃料電池系統總銷售功率*計算,億華通在中國燃料電池系統市場排名第一,市場份額為 27.8%,而於2021年,燃料電池系統佔商用車新能源系統總銷量約0.8%,其餘總銷量則由鋰電池系統佔據。截至2022年6月30日,億華通的燃料電池系統已安裝於工信部新能源汽車目錄中的80款燃料電池汽車上,位居行業第一。

* 燃料電池系統的銷量僅包括直接銷售予燃料電池汽車製造商的銷量。













Beijing SinoHytec Co., Ltd.


全球發售之股份數目:17,628,000股H股 (視乎超額配股權行使與否而定)
香港發售股份數目:1,762,800 股H股 (可予重新分配)
國際發售股份數目:15,865,200股H股 (可予重新分配及視乎超額配股權行使與否而定)
最高發售價:每股H股76 港元,另加1%的經紀傭金、0.0027%證監會交易徵費及0.00565%聯交所交易費(須於申請時以港元繳足, 多繳股款可予退還)
每手買賣單位:50 股H股
香港公開發售開始:2022年12月29日 (星期四) 上午9時
香港公開發售結束:2023年1月5日 (星期四) 中午12時
公佈股份配售和發售結果:2023年1月11日 (星期三)
預計上市日期:2023年1月12日 (星期四)


1) 約75.0%或約841.2百萬港元將用於撥付公司未來三年的研發。

2) 約15.0%或約168.4百萬港元將用於在未來三年透過產品推廣及多渠道營銷提升公司的品牌認受性。以及,

3) 約10.0%或約112.2百萬港元將用作營運資金及其他一般企業用途。

Copyright 2022 亞太商訊. All rights reserved. (via SEAPRWire)