‘Ferrari woman’ fails in attempt to avoid paying over $430,000 to former husband

SINGAPORE - A woman, who once caused a traffic jam in Orchard Road when she stopped her Ferrari, failed in her attempt on last Friday (July 9) to avoid paying more than $430,000 to her former husband. Retired interior designer Shi Ka Yee, 75, had applied to the High Court to set aside a statutory demand by Mr Patrick Teo Chong Nghee, 73, that was served on her in May. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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S’pore public to weigh in on rehabilitation of ex-offenders during 3-day virtual summit

SINGAPORE - Members of the public here will be given the chance to weigh in on strategies to help former offenders stay on the right path and not return to a life of crime during a three-day virtual summit which kicked off on Tuesday (July 13). The event is organised by the Community Action for the Rehabilitation of Ex-Offenders (Care) Network and about 500 participants, including university students and faculty members, are expected to tune in. Discussions will cover topics such as employment for former offenders, support for their families, and catering to the needs of different groups of former offenders such as youth, the elderly and those with mental-health concerns. The dialogue sessions are part of the network's efforts to adopt a whole-of-community approach to help former offenders rehabilitate and reintegrate into society. During her opening address at the launch of the summit on Tuesday, Second Minister for Home Affairs Josephine Teo discussed initiatives to strengthen support for ex-offenders and their families beyond employment opportunities amid the Covid-19 pandemic. "This past year has been challenging for all of us. This includes ex-offenders and their families, who...

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Temasek Foundation, firms donate over 11,000 oxygen concentrators to help Indonesia tackle Covid-19

SINGAPORE - Temasek Foundation is among Singaporean and Indonesian entities donating more than 11,000 oxygen concentrators to support Indonesia's fight against Covid-19. The first batch of 1,500 units is slated to arrive in Jakarta on Tuesday (July 13) and Wednesday, said the foundation in a statement on Tuesday. More will be progressively delivered over the next few weeks, it added. The oxygen concentrators, which are medical-grade, non-invasive breathing aids, will be deployed by Indonesia's Ministry of Health to hospitals to treat patients with respiratory conditions. The country reported 40,427 Covid-19 cases and 891 deaths on Monday, bringing its total so far to more than 2.5 million cases and 67,355 deaths. The Indonesian authorities extended Covid-19 restrictions to 15 new locations across the archipelago last Friday. In densely populated Java, hospitals are being pushed to the limit, oxygen supplies are low, and four of five designated Covid-19 burial grounds in capital Jakarta are running out of space. Contributors to the donation drive include Bakti Barito Foundation, Indies Capital Partners, Sinar Mas, CapitaLand Hope Foundation, DBS Bank and telco Singtel. Said Mr Piyus...

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Opal and Funding Societies Partner to Strengthen SME Cash Flow

SINGAPORE, Jul 13, 2021 - (ACN Newswire via SEAPRWire.com) - Opal, a Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS), and Funding Societies, Southeast Asia's largest SME digital financing platform, have initiated a partnership to offer a range of financing solutions to Opal's ecosystem of clients and partners. This partnership aims to provide Opal's clients and partners access to financing so as to address short-term cash flow needs and capitalise on growth opportunities.Lim Ming Wang, Co-founder, OpalShrawan Saraogi, Head of Partnerships and Products, Funding SocietiesUnder this partnership, Opal will offer Funding Societies' range of financing solutions to small and medium enterprises (SMEs) who will be able to access multiple financing solutions at a relatively lower rate and a quicker processing time. Further, to reduce the financial burden on SMEs, Opal and Funding Societies will reduce processing fees on all disbursals up to 50% of the loan amount and offer a full waiver of the facility fee on all line products.Lim Ming Wang, Co-founder of Opal said, "Based on MAS' growth forecast for 2021, Singapore's economic growth will be robust but u...

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Fujitsu and Digital Commodity Exchange Enter Strategic Agreement to Accelerate Digital Transformation in Global Commodities Trading

TOKYO, Jul 13, 2021 - (JCN Newswire via SEAPRWire.com) - Fujitsu Limited and Digital Commodity Exchange Pte. Ltd. (DCX) today announced that they have entered a global strategic agreement to accelerate the digital transformation (DX) of the global commodity (1) trading industry, including the trade of agricultural products such as grains and raw materials for manufactured goods. In addition, Fujitsu will make a strategic investment in DCX on July 13, 2021 through a fund managed by its subsidiary Fujitsu Ventures Limited.DCX is a holding company of Rice Exchange (2) and was established in Singapore in 2020 as a start-up company that leverages digital technologies to solve business challenges surrounding global commodity trading, including complex and inefficient exchanges and how to best ensure reliability and transparency. Since August 2019, Fujitsu and Rice Exchange have been working together to solve frictions related to global transactions with the world's first digital global rice trading platform, which successfully deployed blockchain technology to realize efficiency with a high degree of reliability and transparency. Fujitsu and DCX are additionally endeavoring to transform ...

Free mediation for wedding couples and vendors affected by Covid-19 restrictions

SINGAPORE - The Ministry of Law (MinLaw) is rolling out mediation help to parties in wedding events affected by Covid-19 restrictions. The wedding must have been scheduled to take place between May 8 and July 31. One example of a dispute is when the wedding couple and a vendor are not agreeable to a rescheduling or downsizing of the contract, written or otherwise, to provide goods and services. Wedding receptions were not allowed from May 16 to July 11. A trained professional appointed by the ministry will help to facilitate a settlement, if both parties agree to mediate, for free, voiding the need to resolve the dispute in court. Interested parties may submit their requests at this website from tomorrow (July 14). The deadline is Sept 10. MinLaw will aim to hold the mediation within two weeks of the request submission. The session will generally be conducted virtually and take about two hours. More on this topic Related Story Wedding plans hit by Covid-19 curbs in S'pore, but it's still happily ever after Related Story Singapore couples say 'I do' despite higher wedding costs, Covid-19 curbs

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Microsoft and NEC Expand Strategic Partnership to Boost Business Resiliency and Growth

TOKYO, Jul 13, 2021 - (JCN Newswire via SEAPRWire.com) - Microsoft Corp. (Microsoft) and NEC Corporation (TSE: 6701) on Tuesday announced an expansion of their decades-long collaboration. Through a new multi-year strategic partnership, the companies will leverage Microsoft Azure, Microsoft 365, NEC's network and IT expertise, including 5G technologies, and each other's AI and IoT solutions to help enterprise customers and the public sector across multiple markets and industries further accelerate their cloud adoption and digital transformation initiatives.The partnership will see NEC adopt Microsoft Azure as its preferred cloud platform to deliver enhanced capabilities to drive sustained digitalization, help customers transform their business models, and build Digital Workplaces for the post-pandemic "new normal."To accelerate NEC's Digital Workplace innovation and workforce transformation, the companies will work together to migrate NEC's on-premises IT environment to Azure and deploy Azure Virtual Desktop and other Azure services among the NEC Group's 110,000 employees worldwide. This modernization builds on NEC's existing Microsoft 365 platform and will enable a highly sustainab...

Asia’s wealthy heirs are backing women in business

JAKARTA (BLOOMBERG) - When Grace Tahir's daughter turned 14, they sat down to talk careers. As a family linked to two Indonesian billionaire patriarchs, a life of leisure has always been an option for the women in the family - but the teenager said she wanted to work, like her mother. That sparked a renewed determination in Ms Tahir to help advance women, pushing her to pour more funding into investments with a female focus. "I would hate to see in 10 or 20 years' time, when they get into the workforce, them facing the same situation I see myself in right now where a lot of things are very male-dominated," 44-year-old Ms Tahir, who has founded start-ups and is now a director at her family's Mayapada Hospital group, said of her three daughters. Ms Tahir's interest in so-called gender lens investing is part of a growing trend among Asia's rich families, as young generations inheriting wealth put their money to work in more novel ways that may also have positive impact. It helps that the research is beginning to back them up, with a number of studies now suggesting that a focus on gender-equal companies can help portfolio managers outperform. The growth of this practice is particularl...

TikTok tells employees to return to office for three days a week

NEW YORK (REUTERS) - Popular short-video app TikTok told its employees on Monday (July 12) that some will be offered the option to work remotely for up to two days a week after they return to office, according to an internal message seen by Reuters. TikTok will also give employees the choice to work remotely from a domestic location based on manager approval, according to the message. This policy applies to full-time employees and interns in the United States, the UK and Ireland, with other markets to follow. The company is currently working fully remote and is yet to set a return-to-office date. TikTok hired "thousands of colleagues" during the pandemic, according to the message. "There is no substitute for in-person collaboration, and we're excited to eventually re-open our US offices. But it's clear that many of us have adjusted well to working from home, and value the flexibility and balance," one of the messages said. TikTok operates in countries including the United States, UK, France, Germany, Singapore, Indonesia, South Korea and Japan. The US is one of TikTok's biggest markets, with major hubs in Mountain View, California, Los Angeles, New York and Austin, Texas. The vast ...

Virgin Galactic sinks on stock-sale plan after Richard Branson soars to space

NEW YORK (BLOOMBERG) - Virgin Galactic Holdings filed to sell as much as US$500 million (S$676 million) in shares following a rocket-powered test flight by founder Richard Branson that won Wall Street praise as a "marketing coup." The success of the hour-long mission to more than 80 km above Earth boosted Virgin Galactic's plan to start offering tourism trips next year. But the shares tumbled the most in almost seven months after the disclosure on Monday (July 12) of the potential stock sale, which suggested the company's need for additional funds as it prepares its commercial debut. "Welcome to the dawn of a new space age," Mr Branson told guests on Sunday at the Spaceport America complex near the town of Truth or Consequences, New Mexico. Mr Branson's achievement is a "massive marketing coup" for Virgin Galactic that will be hard for the general public to ignore, Canaccord Genuity analyst Ken Herbert said in a research note. "The challenge now will be for the company to maintain the momentum and establish a flight plan in 2022 that can demonstrate a repeatable and increasing commercial launch cadence." Virgin Galacticshares plunged 17 per cent to US$40.69 at the close in New York...

Sembcorp Marine warns of continued losses in first half of 2021

SINGAPORE (THE BUSINESS TIMES) - Sembcorp Marine (Sembmarine) estimates losses for the six months ended June 30 will likely be in the region of the full-year losses incurred for 2020, according to a profit guidance on Monday (July 12). This comes as the offshore and marine player expects incurring additional costs arising from delays in project execution as a result of the pandemic. These additional costs are due to work rescheduling, extra sub-contract work, additional material usage and other staff turnover-related costs. Thus, provisions will be made for the group's first-half results for the costs to be incurred to complete the projects over the next six to 18 months. "These provisions will have a material adverse impact on the group's H1 2021 results," Sembmarine added. Its results for the period are scheduled for release on July 29. Sembmarine reported a $583 million net loss for 2020, including $162 million in pre-tax asset impairments and provisions for the fourth quarter of last year. Sembmarine on June 24 proposed an additional $1.5 billion rights issue to shore up its financial position and accelerate its pivot towards clean energy. It also said it had inked a memorandum...

Hyflux winding up hearing adjourned after intervention by Utico

SINGAPORE (THE BUSINESS TIMES) - White knight suitor Utico is making another last-ditch attempt to intervene in Hyflux's winding up process. The Middle Eastern utility firm was looking to file an affidavit, which refutes what judicial managers (JMs) have asserted regarding the failure to proceed with certain negotiations for the restructuring of Hyflux, the Singapore High Court heard on Monday (July 12). This follows a hearing before High Court Justice Aedit Abdullah on the winding up application filed last month by Hyflux's JMs from Borrelli Walsh after restructuring negotiations with potential investors had fallen through. Justice Aedit had granted permission for Utico's draft affidavit to be circulated among creditors within the day. The winding up hearing was adjourned, and a new date will be fixed in a pre-trial conference on Tuesday. But Justice Aedit pointed out that commercial judgements are generally left to the JMs, and Utico currently does not have a standing as a shareholder nor as a creditor. The court heard that it is in the "creditors' general interest" that Utico's affidavit is heard, and there is evidence that could impact whether Hyflux should wind up without furt...

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Straits Inter Logistics set to develop Asia’s largest STS Energy Transhipment Hub after receiving approval from Marine Department Malaysia

KUALA LUMPUR, Jul 12, 2021 - (ACN Newswire via SEAPRWire.com) - Straits Inter Logistics Berhad ("Straits" or "Company"), a Bursa Malaysia Listed Company, announced today that it has received approval from Marine Department Malaysia for Victoria STS (Labuan) Sdn Bhd ("Victoria STS") to develop an integrated offshore Ship-to-Ship (STS) Energy Transhipment Hub within the port limits of Victoria Bay, Labuan. Victoria STS is a 70% owned subsidiary of Fajar Maritime and Logistics Sdn Bhd, which in turn is a 60% owned subsidiary of Straits.The STS hub will be Straits' energy flagship project which will be located within the port limits of Victoria Bay deep water area spanning a vast 3309 hectares supporting an initial six (6) STS berths with safe water depths of up to 30 meters. The development will advance the introduction of state-of-the-art multi-functional energy transhipment facilities that will be able to accommodate LNG carriers up to the size of a Q-Max and Very Large Crude Carriers (VLCC).Victoria Bay is strategically located along the international shipping and energy trade routes. Straits' plan to develop the STS Hub is set to be one of the largest offshore Liquefied Natural Ga...

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天韵国际(6836.HK)全新云南生产基地项目计划落地建设

HONG KONG, Jul 12, 2021 - (亚太商讯 via SEAPRWire.com) - 中国领先的品牌加工水果产品销售商及制造商天韵国际控股有限公司(「天韵国际」或「公司」及其附属公司统称「集团」)(股份代号 : 6836.HK)欣然宣布,已于中国云南省红河州计划建设一个综合性的生产基地 (「云南生产基地项目」),主要用作生产热带加工水果产品。该项目预计2022年开始投入运营,并与集团于山东省、湖北省的生产基地形成协同效应,有助于集团扩充生产设施、丰富加工水果品种和增加中国市场覆盖率,发展温带、亚热带及热带加工水果产品及饮料的生产及销售,形成华北、华中、西南地区三大加工水果生产基地。云南生产基地项目位于云南省红河州,项目地理位置优越,为南亚、东南亚及中国西南地区进出口商品双向流通、集散和分销的核心枢纽,道路四通八达,方便到达邻近国家,例如越南、缅甸、老挝、新加坡、马来西亚和泰国。项目计划占地面积超过130,000平方米,总规划设计产能达每年90,000吨,将聚焦于热带加工水果产品,拟兴建设施包括研究中心、加工中心、分选中心、销售和贸易中心、及仓储物流中心。云南生产基地暂定的营业范围包括生产和售卖罐装果蔬、饮料、新鲜果蔬、果冻等产品。云南省位于低纬度的高原地带,气候多样、生态环境良好,与周边地区拥有丰富的水果、蔬菜和自然资源,因此被誉为「植物和水果王国」。其中,云南盛产多种特色水果,包括芒果、菠萝、木瓜、石榴、葡萄、菠萝蜜、橘子、枇杷、杨梅等。根据中国昆明海关的统计数字,云南省在2020年出口近135万吨,总值近人民币184亿元的水果,较2019年增长约24%,当中绿色食品和食品加工业备受当地政府支持,发展尤其迅速。天韵国际的云南生产基地项目同样以打造绿色食品品牌及建设示范性生产基地为目标,有助集团引进更多采购自热带气候区的水果品种,在该区发展加工热带水果产品基地,同时有利加强在全国各地的生产布局及销售策略。集团主席兼行政总裁杨自远先生表示:「云南生产基地项目已计划落地,进度令人欣喜。透过云南生产基地项目,集团将其现有的生产基地从中国东部和中部发展到西南部,进一步拓展业务。同时也能发展以前没有量产的新种类水果和其他产品,例如热带加工水果产品。我们有信心,随着云南生产基地项目于2022年开始投入运营,集团的饮料产品、现有加工水果产品及新类别水果产品的产能将全面显著提升,我们在全中国的仓存和物流亦将得到更妥善安排,改善自家品牌产品的成本效益,使集团具备更优厚条件,为客户及市场提供更健康、更多元、更丰富的加工水果产品及饮料。」关于天韵国际控股有限公司 (股份代号﹕6836.HK)天韵国际控股有限公司(「本公司」集团「统称(及其附属公司)」主要从事(i) 生产及销售包装于金属罐、塑料杯、玻璃瓶及铝箔袋的加工水果产品,(ii) 生产及销售饮料产品及(i...

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Tianyun International (6836.HK)’s Construction Plan of New Yunnan Production Base Project has been Implemented

HONG KONG, Jul 12, 2021 - (ACN Newswire via SEAPRWire.com) - Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, the "Group") (Stock Code: 6836.HK), a leading manufacturer and seller of processed fruit products in the People's Republic of China (the "PRC") , is pleased to announce that the Group has set out a production base (the "Yunnan Production Base Project") in the Honghe Hani and Yi Prefecture of Yunnan Province, the PRC, for the production of tropical processed fruit products. It is expected that the project will commence operation in 2022. By that time, the production bases of the Group in Shandong Province, Hubei Province and Yunnan Province will produce synergies. These will contribute to the expansion of production facilities and enrichment of the varieties of processed fruits and market coverage in the PRC. These will also develop the production and sales of temperate, subtropical and tropical processed fruit products and beverages, establishing the Group's base for processed tropical fruit products in the north, middle and southwest parts of the PRC. The Yunnan Production Base Project is located in the Honghe Hani and Yi Pre...

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Haily IPO oversubscribed by 38.81 times

KUALA LUMPUR, Jul 12, 2021 - (ACN Newswire via SEAPRWire.com) - Haily Group Berhad's ("Haily") IPO exercise comprises:(from left) Haily Group Berhad Executive Director Ms See Swee Ling, Haily Group Berhad Founder & Executive Director Mr See Tin Hai, and Haily Group Berhad CEO & Executive Director Mr Yoong Woei Yeh at the Balloting Ceremony of the Company in conjunction with its listing on the ACE Market of Bursa Malaysia Securities(A) Public issue of 30,000,000 new ordinary shares in HAILY ("Public Issue Shares") in the following manner:i. 8,920,000 new Public Issue Shares for application by the Malaysian public:ii. 10,000,000 new Public Issue Shares for application by the eligible directors and employees of HAILY and its subsidiaries ("Group") and persons who have contributed to the success of the Group;iii. 11,080,000 new Public Issue Shares by way of private placement to selected investors in the following manner; and- 5,100,000 Public Issue Shares to selected Bumiputera investors approved by Ministry of International Trade and Industry ("MITI"); and- 5,980,000 Public Issue Shares to selected investors.(B). Offer for sale of 18,000,000 existing ordinary Shares in HAILY (...

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冠君产业信托推出「旺 ‧ 角自各精彩」学生短片创作比赛

HONG KONG, Jul 12, 2021 - (亚太商讯 via SEAPRWire.com) - 持有花园道三号及朗豪坊物业的冠君产业信托(「信托」;股份代号:2778)一直视可持续发展为企业文化中不可或缺的一部分,致力为业务及小区创造长远价值。有见现今社会对多媒体技能的需求不断增加,信托藉此于今年暑假期间举办「旺 ‧ 角自各精彩」学生短片创作比赛,提供平台让学生发挥潜能及创意,运用镜头去说故事及创作,给予其宝贵的练习机会并提升影片制作技能。比赛以「旺 ‧ 角自各精彩」为题,取景为朗豪坊。位于旺角核心地带的朗豪坊提供多采多姿的购物、餐饮、潮流活动、绿色及健康生活等一站式体验,信托鼓励学生以创意有趣的拍摄方式,展现出不同人皆可于朗豪坊享受属于他们各自的精彩欢乐时刻。比赛冠军可获得现金奖及朗豪坊商户现金礼券总值港币一万元,亦有机会于朗豪坊商场之LED大银幕播放作品,以及获得实习工作机会,体现信托一直以来支持青年发展的使命。专业评审团亦会向参赛者分享拍摄技巧和心得。短片提交截止日期为2021年8月18日(星期三),结果将于2021年8月下旬公布。信托将于2021年7月14日(星期三)举办网上简介会,有关更多活动详情可按此。https://tinyurl.com/nnb4hvjt冠君产业信托行政总裁王家琦表示:「继去年反应良好的大学生创业营商比赛后,信托很高兴再度为青年人举办创作比赛。我们不断发掘不同机会予学生,在疫情下提供更多实习及提升职场实力的良机。此外,我们希望借着此比赛带出朗豪坊是每个人都乐于其中的汇聚点!未来,我们除了致力发展业务外,亦冀望与所有持份者携手创造可持续的价值。」 有关冠君产业信托(股份代号:2778)冠君产业信托拥有及投资提供租金收入的写字楼及零售物业。信托主要投资位于优越地点的甲级商用物业。现时拥有花园道三号及朗豪坊两幢地标性物业,并以合资股权形式拥有位于伦敦市中心的66 Shoe Lane,总楼面面积约300万平方呎,让投资者可直接投资于优质甲级写字楼及零售物业。自2015起,信托被纳入为恒生指数的恒生可持续发展企业基准指数的成份股。网站:www.championreit.com Copyright 2021 亚太商讯. All rights reserved. (via SEAPRWire)

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Champion REIT Holds “Magical Langham Place in Your Lens” Student Filming Competition

HONG KONG, Jul 12, 2021 - (ACN Newswire via SEAPRWire.com) - Champion Real Estate Investment Trust ("Champion REIT" or "Trust") (Stock Code: 2778), owner of Three Garden Road and Langham Place, always regards sustainable development as an integral part of its corporate culture and is committed to creating long-term value not only for its business but also for the community. The Trust is organising the "Magical Langham Place in Your Lens" Student Filming Competition during this summer holiday. In view of the increasing market demand for multimedia skills nowadays, the competition is aimed at providing a platform for students to realise their creative potentials and essential skills to tell stories through video taking. It is a golden chance for students to practice and improve their video making skills. The competition is themed on "Magical Langham Place in Your Lens", and filming in Langham Place is required. Located in the heart of Mong Kok, Langham Place stands as a one-stop destination offering a full range of experiences, including shopping, dining, popular events as well as green and healthy lifestyle activities. Riding on this theme, the Trust encourages students to showcase ...

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Honda Reaches 15 Million-Unit Mark in Cumulative Automobile Sales in China

BEIJING, China, Jul 12, 2021 - (JCN Newswire via SEAPRWire.com) - Honda today announced that Honda's cumulative automobile sales in China has reached the 15 million-unit mark. Starting sales in China in January 1999, Honda reached this milestone in 22 years, 6 months, the fastest of any region for Honda's global automobile sales. Moreover, HMCI also announced that Honda's cumulative hybrid vehicle sales in China has reached the 500,000-unit mark, in 4 years and 7 months since the start of sales in 2016.Since it started automobile business in China in 1998, Honda has been offering environmentally-responsible products filled with the joy of driving, including global models such as Accord and CR-V, as well as China-exclusive models such as Crider developed to fulfill customer needs specific to the Chinese market. In 2016, with the introduction of Accord equipped with the Sport Hybrid i-MMD(1), Honda's original high-efficiency hybrid-electric system, Honda began sales of hybrid-electric vehicles in China. Since then, Honda has continued enhancing its hybrid lineup and currently offers 9 hybrid models(2) in China in order to provide more customers with the unique value that only i-MMD c...

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TOYOTA GAZOO Racing Motivated for Monza

TOKYO, Jul 12, 2021 - (JCN Newswire via SEAPRWire.com) - TOYOTA GAZOO Racing aims to maintain its 100% winning Hypercar record this week when the 2021 FIA World Endurance Championship (WEC) returns to Italy for the first time in nearly 30 years for the 6 Hours of Monza.The new GR010 HYBRID Hypercar has won both races so far this season, in Spa-Francorchamps and Portimao, and will now take on the high-speed challenge of Monza, a track which holds a special place in Toyota's endurance racing history.In 1992, Geoff Lees and Hitoshi Ogawa earned Toyota's first World Championship sportscar victory, beating opposition from Peugeot and adding the TS010 Group C car to a roll of honour which includes previous Monza-winners such as the Jaguar XJR-14, Mercedes Benz C11 and Porsche 962.That proved to be the last World Championship sportscar race in Italy, although WEC visited in 2017 for its pre-season Prologue test. The historic 5.793km track, in Europe's largest walled park, returns to the calendar this year.TOYOTA GAZOO Racing heads to Monza leading both World Championships following an exciting start to the season. Last year's Le Mans winners Sebastien Buemi, Kazuki Nakajima and Brendon Ha...