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CIMC is betting on a new round of growth by shooting “triple arrows” of its innovative businesses

indie
17 minutes

HONG KONG, Feb 8, 2023 - (ACN Newswire via SEAPRWire.com) - On the closing night of 20 January, CIMC (000039.SZ) released 2022 results forecast. During the reporting period, net profit attributable to the parent was RMB3 billion to RMB3.8 billion, and net profit attributable to the parent after deducting non-recurring gains and losses was estimated to be RMB3.6 billion to RMB5.2 billion. There exited a certain gap for the figures compared with the same period last year, which however is within the expected range. Combined with the recent trend of container transportation industry plus the figures released in the third quarter of last year, it can be found that the gap has been fully digested by the market.(Photo credit: Futu, collated by Gelonghui)(Source: research report of Essence Securities)In addition, upon the release of the annual results alert, CIMC's H shares also had a relatively stable and upward trend in trading sessions after the opening of the Hong Kong stock market in the Year of the Rabbit, with a cumulative increase of 2.76% in just two trading days, making a "good start".High-quality growth ideas of "container leader": seeking new growth points in the future throug...

SeaPRwire

New standards for storing and transporting frozen food in S’pore to boost cold chain ecosystem

aseanpr
2 minutes

SINGAPORE - New standards for storing and transporting chilled and frozen food have been launched, the Singapore Standards Council (SSC) said on Friday (Oct 1). The standards will strengthen Singapore's cold chain ecosystem by improving the management of chilled and frozen food, which includes pre-packaged food, meat, vegetables and eggs. This comes as supermarkets observed a 20 per cent increase in demand for frozen food with Singaporeans continuing to stay home amid the Covid-19 pandemic. Overseen by Enterprise Singapore (ESG), Singapore Manufacturing Federation - Standards Development Organisation (SMFSDO) and the Singapore Food Agency (SFA), the standards will ensure consumers receive safe, fresh and quality products. This new series of standards, called SS 668: 2020 Cold chain management of chilled and frozen foods, will set out organisational goals, policies and technical requirements that are key to the cold chain management process for food products, said SSC. Businesses adopting the standards will need to monitor the time-temperature profile along the entire cold chain, which commences from the processing establishments to the transportation to warehouses and chillers at r...

SeaPRwire

Cold Storage opens flagship outlet at Paragon as part of $40 million revamp

aseanpr
3 minutes

SINGAPORE - The war for supermarket supremacy has heated up with Cold Storage opening a flagship outlet at Paragon on Wednesday (Aug 25). Its weapons include exclusive tie-ups with Ryan's Grocery and Crystal Jade that offer premium meats and ready-to-eat meals. This move is part of a $40 million rebranding exercise which will see a revamp of all 48 Cold Storage stores by the end of 2022, said DFI Retail Group (DFI) which manages the chain. It follows a study by DFI which gathered customer insights into their preferences and expectations from a fresh food store. Mr Chris Bush, chief executive of Cold Storage, said: "This is the largest investment plan we have ever committed to. Cold Storage has been serving our customers with great quality and fresh food for over 100 years, and this is what we firmly believe in." The flagship store, spanning 1,848 sq m, will have what is said to be Singapore's largest organic produce range. It will also stock plant-based products from brands such as Impossible Foods and Beyond Meat. Shoppers can also buy health and wellness products and Singapore's first dog treat bar by bulk foods provider Alison's Pantry. As part of the revamp, Cold Storage stores...