ACN Newswire

东莞农商银行今日香港上市 资产质量稳居行业前列

tallulah
1 minute

HONG KONG, Sep 29, 2021 - (亚太商讯 via SEAPRWire.com) - 据信报报道，今日，东莞农村商业银行股份有限公司（下称「东莞农商银行」）（9889.HK）正式于香港联交所挂牌上市，登陆港股资本市场。据悉，东莞农商银行是中国领先的农村商业银行，根据2021年7月出版的英国杂志《银行家》《The Banker》的排名，按截至2020年12月31日的一级资本计算，该集团位居全球商业银行业第261位，中国商业银行业第44位，中国农村商业银行第六位。综合实力不断提升 资产质量持续向好东莞农商银行立足东莞，在积极参与本地经济建设的同时，不断推动自身的业务发展。招股书显示，该集团的总资产由2018年的约人民币407,904.7百万元增至2020年的人民币548,402.0百万元，年均复合增长率为16.0%，增速领先同业。截至2021年3月31日，该集团的总资产进一步增至约人民币564,558.2百万元，增长动能强劲。在保持资产规模高增长的同时，该集团的不良贷款率呈逐年下降的态势，资产质量不断夯实。截至2018年、2019年及2020年12月31日，该集团不良贷款率分别为1.27%、1.00%及0.82%，优于可比同业平均水平。截至2021年3月31日，该集团不良贷款率优势继续扩大，下降至0.79%。凭借着不断上升的资产规模以及良好的资产质量，东莞农商银行的综合排名持续上升。在中国银行业协会2021年发布的《2021年中国银行业100强榜单》中，按截至2020年12月31日的总资产统计，东莞农商银行成为中国第五大的农村商业银行。网点覆盖广泛 盈利能力持续增强东莞农商银行充分发挥地方银行的优势，与当地政府、企业建立了广泛且良好的合作关系。截至目前，东莞农商银行在东莞已建立了501家业务网点，覆盖东莞所有行政区域。截至2021年3月31日，东莞农商银行的零售客户达约19.1百万户，集团客户达407,500户。按年末存款余额及贷款余额计算，东莞农商银行自2005年以来每年位居东莞市银行业市场占有率第一名。多样化的产品组合及全面的网点覆盖，为东莞农商银行的业绩增长提供了强力支撑。2018-2020年间，该集团的营业收入由约人民币9,777.6百万元增至人民币12,047.0百万元，年均复合增长率为11.0%。2020年，该集团实现净利润达人民币5,055.3百万元。从盈利能力来看，2020年，该集团的平均资产回报率及平均权益回报率分别为1.00%及13.64%，远远超过于香港上市的中国区域性银行的0.52%及6.91%的平均水平。此外，该集团净利差一直处于上升通道，由2018年的约1.98%上升至2020年的约2.10%。净利息收益率由2018年的约2.05%上升至2020年的约2.16%。从东莞走向大湾区 拓展高成长空间东莞具有雄厚的经济基...

SeaPRwire

Monsoon Blockchain为Bitcoin Latinum的下一代加密货币生态系统提供动力

aseanpr
1 minute

Palo Alto, CA - 位于加州帕洛阿尔托的创新区块链公司Monsoon Blockchain Corporation 宣布正式推出为Bitcoin Latinum提供动力的下一代数字加密货币生态系统。Bitcoin Latinum是一种有保险、有资产支持的加密货币。在Bitcoin的基础上，Bitcoin Latinum更环保、更快速、更安全，并不断对数字交易推出革新。Monsoon Blockchain代表Bitcoin Latinum基金会，是Bitcoin Latinum生态的主要开发者。 Bitcoin Latinum是基于开放架构的加密货币技术而建立的。它能够处理海量交易、具备安全性和数字资产管理功能。Monsoon Blockchain发布了Bitcoin Latinum的官方特征、差异化因素和主要优势，包括以下几个方面。 交易量更大 Bitcoin Latinum提供了一个高度可扩展的网络，最初将支持每秒10,000次交易和每天数百万次交易，以促进零售交易。它具备可扩展的架构，支持增加交易率，从而满足需求。凭借其独特的股权证明共识机制，Bitcoin Latinum确保网络以较低的交易费用促进每分钟更多的交易。 降低交易成本 Bitcoin Latinum将传统比特币交易的成本从平均每笔交易的多美元降低到只有几美分，2021年每笔交易的平均费用为0.1美元。这是通过各种机制实现的，包括高能效的共识协议，批准的节点配置，高性能的节点互连，以及更短的确认时间。 更快的速度 利用高效的共识机制，Bitcoin Latinum提供了一个比Bitcoin更好的链上支付网络，平均交易确认时间为3-5秒，从而减少了交易负荷，并增加了交易量。 更加绿色、节能 Bitcoin Latinum使用高级版本的权益证明（PoS）机制来应对基于工作证明（PoW）的网络的固有问题。PoS使LTNM持有者能够通过持有他们的硬币作为抵押品在Bitcoin Latinum网络上进行抵押获得奖励。这导致了更少的电力消耗。现行的代币，如比特币，每笔交易需要高达885+千瓦时，以太坊需要102+千瓦时的能源消耗，而Bitcoin Latinum则将每笔交易的能耗降低到只有0.00015千瓦时。 有保险和资产支持 与其他现有的加密货币不同，Bitcoin Latinum是一种有资产支持的加密货币，并且正在努力成为世界上最大的保险数字资产。它的资产支持是以基金模式持有的，因此基础资产价值随着时间的推移而增加。它通过将80%的交易费存回支持该货币的资产基金来加速这种资产支持基金的增长。因此，Bitcoin Latinum被采用得越多，它的资产基金增长得越快，创造了一个自我增值的货币。 社区管理 Bitcoin Latinum使用代议制政府模式，在其生态系统中实...

JCN Newswire
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Toyota Announces Sales, Production, and Export Results for August 2021

ruth
2 minutes

Toyota City, Japan, Sep 29, 2021 - (JCN Newswire via SEAPRWire.com) - Toyota Motor Corporation (TMC) announces its sales, production, and export results for August 2021 as well as the cumulative total from January to August, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd.Global SalesJapan (112,000 units, up 7.0 percent year-on-year)There was an impact on production due to parts supply shortage, but it was only limited, and sales of the Yaris and Roomy brand vehicles were strong. As a result, sales were up year-on-year.North America (188,000 units, down 2.0 percent year-on-year)In the U.S., despite the effects of the COVID-19 pandemic and parts supply shortage, sales of light trucks such as the RAV4, Lexus brand vehicles, and electrified vehicles such as HEVs, continued to be solid. As a result, DSR* was similar to the previous year, up 2 percent year-on-year.*DSR - Daily Selling Rate. Sales units per day.August 2021Sales ResultsToyota- Worldwide sales: 12th consecutive month of increase;- Sales inside of Japan (incl. minivehicles): 11th consecutive month of increase;- Sales outside of Japan: 9th consecutive month of increaseConsolidated- Worldwide sa...

SeaPRwire

More than 2 years’ jail for man who abducted wife and threatened to kill her

aseanpr
4 minutes

SINGAPORE - A man who threatened to kill his estranged wife after abducting and dousing her with petrol was on Wednesday (Sept 29) sentenced to two years, two months and six weeks' jail. The offender, Murugan Nondoh, now 40, also threatened to kill himself. Police officers arrested him at the Tuas Checkpoint and rescued his wife, Krishnaveny Subramaniam, 40, at around 11pm on July 2, 2019. The Malaysian couple were on the way back to Johor Baru at the time. Murugan, who appeared in a Singapore district court via video-link on Wednesday, pleaded guilty last week to multiple charges over offences that included abduction, criminal intimidation and assault. In sentencing the offender, District Judge Kessler Soh noted that he had committed a "brazen act" by abducting his wife in public view. The court heard that the couple were married in 2007 and lived in Johor Baru. The marriage soured, and police learnt in their investigations that Murugan was physically abusive to his wife. In March 2019, Murugan accused his wife of having an affair, which she denied. Later that month, she moved into her mother's home in Johor Baru and filed for divorce. Murugan tried to reconcile with his wife but ...

SeaPRwire

3 weeks’ jail for man who forged Covid-19 vaccination certificate to dine in restaurant

aseanpr
3 minutes

SINGAPORE - Using an application on his smartphone, a man edited a copy of his colleague's Covid-19 vaccination certificate, replacing the name with his own. Zhang Shaopeng, 30, a Chinese national, later used the forged document to dine with his friends at Tanuki Raw bar and restaurant at Orchard Central. But staff spotted that the document shown was forged and chased the group out before making a police report. On Wednesday (Sept 29), Zhang was jailed for three weeks after he pleaded guilty to forgery. He is the first person here to be convicted of forging a Covid-19 vaccination certificate to dine in at eateries. Zhang had intended to attend an exhibition in the United States, along with his colleagues, Mr Cheng Lin, 32, and Ms Chen Shuwei, 25, both also Chinese nationals. As entry into the US was restricted for foreign nationals who had been in China 14 days prior to entry, the trio decided to travel to Singapore and stay for more than 14 days before going to the US. Mr Cheng arrived in Singapore on Aug 19, while Ms Chen arrived on Aug 22. Zhang arrived only on Aug 27. All three tested negative for the virus and were quarantined. On Aug 25, prior to Zhang's arrival, his two coll...

JCN Newswire
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NTT DOCOMO Commits to Carbon Neutrality by 2030, Aiming to Achieve Effectively Zero Greenhouse Gas Emissions

ruth
3 minutes

TOKYO, Sep 29, 2021 - (JCN Newswire via SEAPRWire.com) - NTT DOCOMO has announced its commitment to reduce the greenhouse gas emissions arising from its business activities effectively to zero by 2030. In order to help society as a whole achieve carbon neutrality, DOCOMO will roll out a new ecosystem called "Caboneu TM" in conjunction with its partners and customers, under the slogan "Saving Our Planet With You."In Japan, mobile telecommunications carriers currently emit greenhouse gases equivalent to the emissions of about 10 million private vehicles through their business activities such as the operation of base stations and the manufacture and delivery of smartphones.(1)DOCOMO will achieve carbon neutrality by applying cutting-edge technology to improve energy efficiency and by procuring clean energy from renewable sources. It will also make efforts to directly procure renewable energy from solar power plants dedicated to supplying DOCOMO,(2) and from other sources. Across its value chain, the company will promote the use of renewable energy through initiatives such as the installation of solar panels with the aim of becoming an environmentally-friendly telecom carrier.In additi...

SeaPRwire

My shirt was burned off, my body was burned black, recalls worker injured in Tuas blast

aseanpr
4 minutes

SINGAPORE - Another worker has testified before an inquiry committee about the trauma he faced following a Feb 24 blast at a factory in Tuas. On Wednesday (Sept 29), Mr Rahad Asfaquzzaman, 30, recalled how he had been flung 2m from the force of the explosion, and the traumatic events that continue to give him nightmares. "After the explosion, I got up from the ground and realised I was burning. My shirt had burned off, leaving only some cloth around my neck and my pants on. I immediately tore what was left of my shirt off from my body," the Bangladeshi national said. "I saw that my body had burned black and there was blood coming out from my mouth from inside my body." Mr Rahad's facial scars - like those of the other injured workers who had testified before him - were visible beneath his mask. He added: "I am unable to produce tears when I cry, and when I am under the sun, everything I see is a blur." Mr Rahad is the fourth injured worker to testify before the committee, chaired by Senior District Judge Ong Hian Sun, that is looking into the causes and circumstances of the blast at 32E Tuas Avenue 11. Three workers, Mr Subbaiyan Marimuthu, 38, Mr Anisuzzaman Md, 29, and Mr Shohel ...

ACN Newswire
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CEKD Berhad Debuts on ACE Market at 12 sen premium, 25% above IPO price

indie
3 minutes

KUALA LUMPUR, Sep 29, 2021 - (ACN Newswire via SEAPRWire.com) - CEKD BERHAD ("CEKD"; KLSE stock code: 0238), a die-cutting solutions provider as well as manufacturer of die-cutting moulds and trader of related consumables, tools and accessories successfully listed on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities) today.Gary Ting, Head of Corporate Finance, M&A Securities Sdn Bhd; Chong Chin Look, Independent Non-Executive Director, CEKD; Datuk Mak Foo Wei, Independent Non-Executive Director, CEKD; Dato' Zulkifli Bin Adnan, Independent Non-Executive Chairman, CEKD; Yap Kai Ning, Managing Director, CEKD; Yap Kai Min, Chief Operation Officer, CEKD; Yap Tian Tion, Deputy Executive Chairman, CEKD; Datuk Bill Tan, Managing Director of Corporate Finance, M&A Securities Sdn Bhd [L-R]CEKD opened at 60 sen, which is a 12 sen premium or 25% higher than its initial public offering (IPO) price of 48 sen per share, with the first traded volume recorded at 6,286,100 shares."We are extremely pleased with today's listing debut on the ACE Market and are humbled by the reception to our IPO from the investing public. We are a leading provider of die-cutting mould solutio...

ACN Newswire
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Society Pass（社會通行有限公司）完成C轮融资，助力东南亚增长

tallulah
1 minute

HANOI, Vietnam, Sep 29, 2021 - (亚太商讯 via SEAPRWire.com) - 越南顶级数据驱动忠诚度平台Society Pass（SoPa）已完成C轮融资。Society Pass将利用本轮融资加快落实东南亚增长和收购战略，特别是收购可将其用户和商户基础快速融入Society Pass生态系统的公司。Society Pass是一个忠诚度和数据营销生态系统，在主要市场经营着多个电子商务和生活方式平台，其营业模式以循环通用忠诚度积分，收集用户数据为重点，实现了多个产品和服务种类的消费者和商户无缝衔接，培育了系统性忠诚度。自2019年成立至今，Society Pass已注册150多万用户和超过3500家商户和品牌。Society Pass创始人、董事会主席兼首席执行官Dennis Nguyen说：“ Society Pass之所以有现在的成就，完全得益于为消费者和商户创造独特价值的理念以及坚实的基础设施支撑。本轮融资可帮助我们在目标市场和积极并购计划中复制成功经验。我们非常感谢那些与我们拥有相同愿景的投资者。”根据HootSuite和We Are Social联合发布的《2021全球数字报告》*，东南亚网络渗透率达69%，年增长率为9.6%，南亚网络渗透率为9.1%，年增长率达9.1%。这两个地区增长潜力巨大，谷歌、Bain和Temasek估计，截至2025年，东南亚网络经济价值将达到3090亿美元，而RedSeer Consulting预计，南亚地区网络经济价值将在2025年达到2500亿美元。电子商务和线上旅游有望占据多数增长份额。Society Pass坚信发展中国家现在正在经历一股数字改革浪潮，未来潜力不可限量，所以计划充分利用南亚和东南亚地区未开发的增长潜力拓展业务规模。Society Pass利用该区域快速发展的网络经济早期阶段将业务范围拓展至餐饮、美容、旅游和生活方式等领域。* https://datareportal.com/reports/digital-2021-july-global-statshot关于Society PassSociety Pass客户忠诚度和分析平台已吸纳数以万计的消费者。Society Pass为商户提供了线上商务平台SoPa.asia（专为用户提供）、便利订单管理程序#HOTTAB Biz（专为SoPa.asia商业合作伙伴提供）以及综合性支付、忠实客户管理、用户资料分析系统POS技术方案#HOTTAB POS和面向中小型企业制定的金融支持计划。上述所有工具可通过基于数据分析的个性化互动帮助各企业吸引和保留客户且盈利丰厚。请登陆 http://thesocietypass.com/ 了解详情。 Copyright 2021 亚太商讯. All rights reserved. (...

ACN Newswire
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Society Pass (SoPa) Announces close of Series C funding to accelerate growth in Southeast Asia

indie
3 minutes

HANOI, Vietnam, Sep 29, 2021 - (ACN Newswire via SEAPRWire.com) - Society Pass (SoPa), Vietnam's leading data-driven loyalty platform, has closed a Series C funding round. With the new funds, Society Pass will look to accelerate its growth and acquisition strategy in Southeast & South Asia, particularly acquiring companies with the existing user and merchant bases that can be quickly plugged into the Society Pass ecosystem.Society Pass is a loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across its key markets. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points. It seamlessly connects consumers and merchants across multiple product and service categories fostering organic loyalty. From its launch in 2019, Society Pass has amassed over 1.5 million registered users and over 3,500 registered merchants and brands.Dennis Nguyen, Founder, Chairman, and Chief Executive Officer Society Pass said: "Society Pass's success up to this point has been built through offering unique value for both consumers and merchants, along with the infrastructure supporting that exchange. This n...

SeaPRwire

3 years’ jail for mum who abused her 2 daughters

aseanpr
4 minutes

SINGAPORE - A housewife who abused her two daughters, aged six and 10, breaking the older child's front teeth, was on Wednesday (Sept 29) sentenced to three years' jail. The woman's offences came to light when her 37-year-old husband returned home and found his daughter's teeth broken. He took the child to KK Women's and Children's Hospital (KKH) and the hospital later alerted the police. The abuse continued while the police were investigating her case and when she was out on bail. Before handing down the sentence on Wednesday, District Judge Kessler Soh addressed the woman, who appeared in court via video link, and told her: "Discipline (your children) if you must but do so appropriately." He also hopes that she will not "take it out" on her children again. On Sept 16, the mother, now 38, admitted to seven counts of abusing her daughters. Four other similar charges were considered during sentencing. The woman, who cannot be named to protect the victims' identities, also has a son whose age was not stated in court documents. A psychiatric report found that the woman was not suffering from any mental illness at the time of the offences. The court heard that in December 2018, her hus...

ACN Newswire
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Hatten Land Subsidiary HTPL Signs Definitive Agreement with Frontier to Operate at Least 1,000 Cryptocurrency Mining Rigs in Malaysia

indie
4 minutes

SINGAPORE, Sep 29, 2021 - (ACN Newswire via SEAPRWire.com) - SGX Catalist-listed Hatten Land Limited ("Hatten Land"; SGX: PH0) said today it has signed an agreement with Frontier Digital Asset Management Pte. Ltd. ("Frontier") to share proceeds from jointly operating at least 1,000 cryptocurrency mining (cryptomining) rigs within the Hatten Group's properties in Malaysia.Cryptomining rigs will be installed starting from Q42021 in phases under the binding strategic collaboration and management agreement between Hatten Land's wholly-owned subsidiary Hatten Technology (S) Pte. Ltd. ("HTPL") and Singapore-based Frontier, which currently operates over 700 cryptomining rigs in Singapore.Hatten Land recently announced that it would re-purpose its retail malls in Melaka for digital activities such as cryptomining and e-commerce. These activities will leverage on existing infrastructure and lower energy costs in Malaysia. Such costs may be lowered further as Hatten Land installs solar panels on malls in an effort to turn its footprint of malls into a hub for energy-efficient or 'green' cryptomining.Hatten Land and its parent company, the Hatten Group conglomerate are the leading developers ...

JCN Newswire
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Pajero Sport and Outlander Won SUV of the Year 2021 in Russia

ruth
3 minutes

TOKYO, Sep 29, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Motors Corporation (MMC) announced that the 2020 Pajero Sport(1) and the 2021 Outlander won SUV of the Year 2021(2) in Russia. Pajero Sport won in the mid-size SUV category chosen by expert jury, while Outlander won in the mid-size crossover category chosen by the general public. Pajero Sport also earned Best New Product of the Year in Car of the Year 2021 in Russia(3).Designed with a refined, powerful exterior and high-quality interior, the Pajero Sport mid-size SUV inherits the Pajero series' off-road capability, reliability and durability, while at the same time offering comfortability and practicality. Outlander crossover SUV has been highly recognized around the world for its utility and road performance of an SUV, as well as its eco-friendliness and economy. Both models are built on Mitsubishi Motors' SUV expertise and all-wheel control technology that enable safe, secure and comfortable driving, which helped them win these awards. "We celebrate the 30th anniversary of Mitsubishi Motors in Russia this year, and all these years, we have continued improving our cars to develop an ideal SUV for Russian roads and...

SeaPRwire
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Home-grown firm that turns coffee waste into furniture material one of 11 NEA award recipients

aseanpr
5 minutes

SINGAPORE - This home-grown company collects sodden, used coffee grounds from cafes and hotels, and turns it into wood-like panels that can be used to make furniture. The firm, A1 Environment, first removes contaminants such as coffee filters from the coffee by-product, then dries and processes the coffee grounds and mixes it with a binder so they can be shaped into fire-retardant panels. Since 2019, A1 Environment has worked with local woodworkers and carpenters to build furniture and household items such as tables and shelves from the novel material. For giving food waste a new lease of life, A1 Environment and 10 other firms were recipients of the inaugural Food Resource Valorisation Awards on Wednesday (Sept 29). Food resource valorisation refers to the conversion of food waste into higher-value products. It is a preferred solution to reducing food waste compared to turning it into compost or liquid nutrients. The awards were given out by the National Environment Agency (NEA). A1 Environment business director Loh Yen-Lyng said by the end of next year, when the company has scaled up its processes, it plans to launch a range of furniture, in collaboration with the woodworkers. It...

SeaPRwire

GIC-backed Amplitude valued at $6.79 billion after shares jump in Nasdaq debut

elean
2 minutes

NEW YORK (REUTERS) - Shares of Amplitude opened nearly 43 per cent above their reference price in their Nasdaq debut on Tuesday (Sept 28), notching up a valuation of about US$5 billion (S$6.79 billion) for the benchmark-backed analytics company. San Francisco-based Amplitude, which confidentially filed for a direct listing in July, was valued at US$4 billion after raising US$150 million from Sequoia Capital and Singapore's sovereign wealth fund GIC in June. Stock of the company opened at US$50 per share, up from the reference price of US$35 per share. Amplitude provides data analytics tools that enable companies to optimise their products. Its customers include NBCUniversal, PayPal Holdings, Peloton Interactive and Instacart. It has benefited from the accelerated digital transformation during the pandemic, as companies seek to optimise customer experience online by using analytical tools. It reported US$72 million in revenue for the first half of the year, a 56 per cent jump year over year, compared with a loss of US$16.5 million. The seven-year-old company chose to go public through a direct listing, an alternative to an initial public offering that has gain traction among compani...

SeaPRwire

United Airlines to fire 593 workers who refused Covid-19 vaccines

elean
2 minutes

NEW YORK (AFP, BLOOMBERG) - United Airlines will dismiss nearly 600 employees who refused to comply with a requirement to be vaccinated for Covid-19, company officials said on Tuesday (Sept 28). Besides the 593 workers who refused to get vaccinated, another 2,000 employees have also requested a medical or religious exemption to the vaccine requirement, company officials said. That is about 3 per cent of United's 67,000-person workforce. The big US carrier said it was pleased with the overall impact of the policy. In early August, United announced that all US employees would be required to receive the vaccine and upload their vaccine card into the company's system. More than 99 per cent of the remaining US staff complied with the requirement, according to a memo to employees from United chief executive Scott Kirby and president Brett Hart. The airline is working on its policies for employees who have requested exemptions, citing a pending court case on the matter. "This was an incredibly difficult decision but keeping our team safe has always been our first priority," Mr Kirby and Mr Hart said in the memo. "The most effective way to keep our people safe, is to make sure they're vacc...

SeaPRwire

Netflix buys first video game studio, rolls out mobile games

elean
2 minutes

BENGALURU (REUTERS) - Netflix has bought video game creator Night School Studio and rolled out five mobile gaming titles in select European markets, the company said on Tuesday (Sept 28), as it looks to diversify revenue sources amid intensifying competition in the streaming space. Night School Studio, the company's first gaming studio purchase, is best known for its debut game, "Oxenfree", a supernatural teen thriller with an eerie soundtrack. The studio's games, which are available on Sony's PlayStation, Microsoft's Xbox, Nintendo Switch and PCs, will be the first non-mobile titles in the streaming giant's newly created video game portfolio. "Like our shows and films, these games will all be included as part of your Netflix membership - all with no ads and no in-app purchases," the company said. Netflix had mentioned its plans to enter gaming during its last quarterly earnings, as newer players including Disney+ and HBO Max have been rapidly gaining subscribers, intensifying competition in the streaming landscape. The company earlier in the day said it had introduced "Stranger Things: 1984", "Stranger Things 3: The Game", "Card Blast", "Teeter Up" and "Shooting Hoops" titles on A...

SeaPRwire

China and Evergrande ascended together – now one is about to fall

elean
8 minutes

HONG KONG - Xu Jiayin - or Hui Ka Yan in Cantonese - was China's richest man, a symbol of the country's economic rise who helped transform poverty-stricken villages into urbanised metropolises for the fledgling middle class. As his company, China Evergrande Group, became one of the country's largest property developers, he amassed the trappings of the elite, with trips to Paris to taste rare French wines, a million-dollar yacht, private jets and access to some of the most powerful people in Beijing. "All I have and all that Evergrande Group has achieved were endowed by the party, the state and the whole society," Mr Xu said in a 2018 speech thanking the Chinese Communist Party for his success. China is threatening to take it all away. The debt that powered the country's breakneck growth for decades is now jeopardising the economy - and the government is changing the rules. Beijing has signaled that it will no longer tolerate the strategy of borrowing to fuel business expansion that turned Mr Xu and his company into a real estate powerhouse, pushing Evergrande to the precipice. Last week, the company, which has unpaid bills totaling more than US$300 billion (S$407 billion), missed a...

SeaPRwire

Investors brace themselves as another payment comes due for Evergrande

elean
2 minutes

HONG KONG (REUTERS) - Investors were bracing themselves for potential market turbulence on Wednesday (Sept 29) as a bond coupon payment for China Evergrande Group comes due, giving the embattled property developer its next test in public markets. Once the face of China's frenzied building boom, Evergrande has now become the face of a crackdown on developers' debts that has spurred volatility in global markets and left large and small investors sweating their exposure. The company is due on Wednesday to make a US$47.5 million (S$64.5 million) bond interest payment on its 9.5 per cent March 2024 dollar bond. While it does not have any more onshore or offshore bonds maturing this year, it must still make coupon payments for offshore bonds totalling US$547.57 million by Dec 28. Evergrande's troubles slammed global stock markets earlier this month. In the weeks since, some global investors have shifted their focus to political wrangling in Washington over the United States' debt ceiling and a rise in Treasury yields that has pressured stocks. Any negative surprise by Evergrande could give stock market bears more ammunition. With liabilities of US$305 billion, Evergrande has sparked conc...

ACN Newswire
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UREEQA Launches New High-yield Staking Pools

indie
3 minutes

ONTARIO CA, Sep 29, 2021 - (ACN Newswire via SEAPRWire.com) - UREEQA (www.ureeqa.com), a blockchain platform for protecting, managing and monetizing creative work, will launch two new high-yield Staking Pools, both of which are designed to bring the company's followers and investors an opportunity to greatly increase their holdings.The fresh campaign comes several months after UREEQA opened three initial staking pools, all of which were full within hours of their launch. This time, two pools will be available at 12 p.m. ET on Thursday, September 30, 2021. One (called Hitchcock) is a VIP pool, only available to those who own one of the platform's Community Qards. The other (called Angelou) is open to anyone.Hitchcock offers a 155% annual percentage yield (APY) with a maturity date of two months and a maximum individual contribution of 100,000 URQA. Angelou offers a 55% APY with a maturity date of three months and a maximum individual contribution of 50,000 URQA.Tokenholders will earn URQA as soon as they're in either pool. "Our last Staking Pools campaign was a tremendous success, and we have no doubt that we'll build on that while helping to enrich the digital wallets of our Tokenh...