The CEO of BruntWork is Riding the Remote Work Wave
NEW YORK, NY, Feb 4, 2022 - (ACN Newswire via SEAPRWire.com) - Staff in fast-growing regions of the world such as the Philippines and in South America are earning more working from home for international companies than they could ever earn on-shore. And the rules for work have changed for good.At the dawn of the post-pandemic era, office workers have woken up, stretched their limbs and shrugged off the remnants of painful memories "Traffic jams, long commutes on crowded buses and trains, unhealthy and expensive lunches in the city CBD" recalls Winston Ong, CEO of leading global outsourcing company BruntWork, about his usual workweek prior to Covid19. "For someone who requires focus to be productive, being accosted by co-workers in an open plan office was a particularly painful experience."Ong is a self-confessed "home worker". With decades of experience in digital marketing, his tasks consisted of work that he could always accomplish from any location with an Internet connection and a phone. And in recent times, all the companies he worked for had a portion of workers located overseas as employers realized the considerable talent pools available in countries like the Philippines (w...
Apple delays employees’ return to office indefinitely
LOS ANGELES (BLOOMBERG) - Apple, facing a resurgence in Covid-19 cases and the fast-spreading Omicron variant, is delaying its corporate return-to-office deadline from Feb 1 to a "date yet to be determined." Employees were informed of the move via a memo sent by chief executive officer Tim Cook on Wednesday (Dec 15). An Apple spokesman confirmed the decision to Bloomberg News. The delay comes just weeks after the company asked employees to begin returning by February, a timeline that had already been pushed back several times. The lack of a firm date shows the struggle that companies face in trying to get their operations back to normal. Fellow technology giant Microsoft scrapped its return-to-work date in September. "We are delaying the start of our hybrid work pilot to a date yet to be determined," Mr Cook said in the memo. "Our offices remain open and many of our colleagues are coming in regularly, including our teams in Greater China and elsewhere." He cited as reasons the "rising cases in many parts of the world and the emergence of a new strain of the virus". Mr Cook also strongly encouraged employees to receive vaccinations and booster shots, saying "this is by far the best ...
Kingsoft Announces 2021 Third Quarter Results
HONG KONG, Nov 16, 2021 - (ACN Newswire via SEAPRWire.com) - Kingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its unaudited quarterly results for the three months ended 30 September 2021 ("period under review"). During the period under review, the revenue of Kingsoft increased 8% year-on-year to RMB1,510.2 million. Revenue from online games and others, and office software and services represented 47% and 53% of the Group's total revenue for the third quarter of 2021, respectively. Revenue from the office software and services business for the third quarter of 2021 increased 37% year-on-year to RMB803.7 million. Gross profit for the third quarter of 2021 increased 7% year-on-year to RMB1,241.0 million. Mr. Jun LEI, Chairman of Kingsoft, commented, "Our overall business grew steadily during the quarter. Kingsoft Office Group focused on addressing user needs to enhance its products and services, and continued to pursue its strategy of 'multi-screen, cloud, content, artificial intelligence ("AI") and collaboration'. Meanwhile, our online game business adhered its 'premium' games st...
WeWork shows more big losses in its first earnings report as a public company
NEW YORK (NYT) - WeWork reported its first quarterly results as a public company Monday, revealing that its coworking business is still racking up big losses and hemorrhaging cash. But WeWork pointed to an uptick in customer leasing activity in the quarter as evidence that it was positioned to do well in office-space markets that had been upended by the pandemic. WeWork, which became public through a merger last month with a special purpose acquisition company, or SPAC, reported a net loss of US$802 million in the third quarter, an improvement on the loss of US$941 million in the same period a year earlier. WeWork's revenue, however, declined to US$661 million in the latest third quarter, from US$811 million a year earlier. The company reduced its loss by cutting its expenses significantly. WeWork leases huge amounts of office space and then charges its customers - large companies, small businesses and individuals - to use it. Customers might prefer being in a WeWork space because the lease agreements are shorter than for traditional office space, allowing for more flexibility. But the drawback for WeWork is that its customers can move out on short notice. WeWork was on the brink o...
Pofma Office rejects activist Jolovan Wham’s claims that he was asked to apologise during interview
SINGAPORE - The Protection from Online Falsehoods and Manipulation Act (Pofma) Office has said activist Jolovan Wham's claims that he was asked to apologise during an interview with the office on Oct 22 were untrue. Mr Wham posted on Facebook on Oct 24 that he was asked by a Pofma officer at the end of a three-hour investigation if he wanted to apologise for his actions. He was called to the office for an interview after he and eight others were issued correction directions from the Pofma Office. This was for posts that suggested that Law and Home Affairs Minister K. Shanmugam had said in Parliament that the rule of law does not operate in Singapore. Mr Wham wrote in a post about his interview: "The implication was that if I did (apologise), they might decide to let me off the hook. But what a terrible choice one has to make to avoid legal troubles!" He added that he could not bring himself to apologise and claimed the authorities were using their power to scare others into submission and humiliate him. The Pofma office said instead that it was Mr Wham who had asked the investigating officer if he was expected to apologise, in a written statement on Monday (Nov 1) to address Mr Wha...
Google to spend US$2.1 billion on office building in New York amid shift to remote work
NEW YORK (NYTIMES) - Google on Tuesday announced it would spend US$2.1 billion to buy a sprawling Manhattan office building on the Hudson River waterfront, paying one of the largest purchase prices in recent years for an office building in the United States and providing a jolt of optimism to a New York City real estate industry lashed by the pandemic and the shift to remote work. The transaction comes during a precarious period for the city's office market, the largest in the country, as the swift embrace of hybrid work and the shedding of office space have presented the most serious threat to the industry in decades. While Manhattan has a glut of office space available for lease, setting record highs during the pandemic, the four firms that make up so-called Big Tech - Amazon, Apple, Google and Facebook - have staked a bullish position on the future of New York. The companies have rapidly grown their operations and workforce, one of the few bright spots for New York, which has been hit harder by the pandemic's economic toll than any other major American city. Google was already leasing but not yet occupying the 1.3 million-square-foot property, known as St. John's Terminal, a for...
Making a beeline for the office hive
(NYTIMES) - Investment company Nuveen has spent US$120 million (S$161 million) renovating its office tower in midtown Manhattan, overhauling the lobby, devoting the second floor to amenities and refurbishing a 22nd-floor terrace. And the finishing touch? Two beehives on a seventh-floor terrace. All these are done with the hope of getting workers back to their office. Office workers who were sent home during pandemic lockdowns often sought refuge in nature, tending to houseplants, setting up bird feeders and sitting outdoors with their laptops. Now, as companies try to coax skittish employees back to the office and building owners compete for tenants when vacancy rates are soaring, many have hit on the idea of making the office world feel more like the natural world. Some of the more unusual nature-themed offerings include "treehouse" lounges and vegetable plots that let desk workers dig in the dirt. Beekeeping programmes - complete with honey tastings and name-your-queen contests - are, ahem, all the buzz. One upcoming project in Texas will include a bird blind, letting workers peek out at other winged creatures. "There's a lot more focus on amenities and how to make an office bett...
TEC case study with Standard Chartered on Future Workplace found 75% of employees want greater workplace flexibility
HONG KONG, Sep 2, 2021 - (ACN Newswire via SEAPRWire.com) - The Office of the Future must be an inspiring physical space that facilitates communication, cooperation and collaboration in order to encourage employees to come into the office, according to the latest case study by The Executive Centre (TEC), the leading premium flexible workspace, and Standard Chartered Bank.Modern technology and globalised communication systems have allowed us to become a more agile and mobile workforce, and these trends have accelerated with the COVID-19 pandemic. The workforce culture today is increasingly championing flexible working practices as the Future of Work. Standard Chartered Bank is leading the shift for multinational corporates towards adopting a flexible work culture through an extensive review and analysis of their portfolio and employee needs. Sheridan Perkins, Property Program Director of Future Workplace, now at Standard Chartered Bank said, "Initially, we assumed maybe 50% of our employees wanted Flex, but actually from our survey, we found that over 75% wanted it. Typically, this was 2-3 days at home and 2-3 days at the office or third space. Despite some regional nuances, this fi...
Kingsoft Announces 2021 Interim and Second Quarter Results
HONG KONG, Aug 24, 2021 - (ACN Newswire via SEAPRWire.com) - Kingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its unaudited 2021 interim results and its second quarter results for the period ended 30 June 2021.For the first half of 2021, the revenue of Kingsoft increased 17% year-on-year to RMB3,039.1 million. Revenue from office software and services business increased 70% year-on-year to RMB1,557.2 million. Revenue from office software and services and online games and others represented 51% and 49%, respectively, of the Company's total revenue for the first half of 2021. Gross profit for the first half of 2021 increased 16% year-on-year to RMB2,523.7 million, while operating profit amounted to RMB741.9 million. For the second quarter of 2021, the Company's revenue increased 4% year-on-year to RMB1,479.5 million. Revenue from office software and services business increased 47% year-on-year to RMB786.2 million. Revenue from office software and services and online games and others represented 53% and 47%, respectively, of the Company's total revenue for the second quarter of 20...
KGiSL bags Broker Back Office project for Stock Exchange of Thailand
Coimbatore, India & Bangkok, Aug 19, 2021 - (ACN Newswire via SEAPRWire.com) - KGiSL, a global IT products, services and solutions provider, has announced a landmark contract win from the Stock Exchange of Thailand (SET), one of the largest stock exchanges in ASEAN, to provide a Broker Back Office platform for Thailand's brokers. KGiSL's offering, which will be hosted by SET and made available to all capital market brokers, will be based on its flagship Dolphin platform, an end-to-end back-office system that eases business operations with seamless and controlled automation. The implementation is expected to be completed within 16 months.Dolphin, the leading back office platform in India, caters to 60% of its institutional brokers, supporting back office clearing and settlement operations. Dolphin is set to become the one-stop solution for brokers in Thailand, with its ability to handle multiple asset classes including equities, bonds and offshore trading for both retail and institutional brokers. The next-generation technology platform has been tested for handling 5 million trades/day and has the potential capability to scale vertically and horizontally, supporting increases in...
Will a hybrid workplace mean inequality between remote and office workers?
SINGAPORE - Hybrid workplaces are becoming the norm amid Covid-19 and this trend is likely to continue after the pandemic. But this could lead to a different type of inequality emerging in the workplace - one between remote and office workers. 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.
FLIMGO makes movies more than just movies
Because COVID-19 swept the world in 2020, the Chinese film market was closed for 178 days, which brought great impact to the Chinese film industry. A large number of films have been squeezed and postponed, and major film companies have been operating in a dismal way. The Internetization of the film industry has also accelerated its development in the case of a sluggish industry. Films originally planned to be shown in cinemas have to be shown on the Internet. COVID-19 is a disaster for the film market, but it also brings opportunities. From now on, the film industry is affected by both good and bad. On the bright side, the Annual Inventory Report of Chinese Film Market in 2020 jointly released by Lighthouse Research Institute and Weibo Film pointed out that the total box office of Chinese film market in 2020 was 20.417 billion yuan, about 3.1 billion U.S. dollars, surpassing North America (2.1 billion U.S. dollars) to become the first box office in the world. Domestic films live up to high expectations and become the pillar of box office this year. Therefore, how to seize the opportunity and share the income of the film market is the problem that people should think about! FLIMGO's...
London staff want big pay rises to return to office, survey says
LONDON (BLOOMBERG) - London office workers want an average pay rise equivalent to the cost of some annual railway season tickets to return to their desks full-time after the pandemic, according to a survey. With Covid-19 restrictions leaving many offices empty, white-collar staff have spent 16 months mostly working from home. Just 17 per cent now say they actively want a full-time return to the office, research for workplace analytics firm Locatee shows. However, cash would convince 43 per cent of employees, according to the research, by YouGov Plc. In London that equates to an average of £5,100 ($9,500) - virtually the same as an annual railway ticket between London and the commuter town of Tunbridge Wells, in Kent. The UK national average was 4,000 pounds, Locatee said. The research underscored the difficulties in engineering a post-pandemic "new normal" for business. Ending legal coronavirus restrictions this week, amid a surge in infections in London and around the UK, has not yet spurred a large-scale return. Many firms want staff back and are already planning for a "hybrid" future that includes regular home-working in order to keep them on-side. "The appetite for remote worki...
Hybrid working: Why it isn’t ideal
(REUTERS) - Hybrid working is often presented as a flexible compromise that secures the best advantages of office-based and remote work, but the reality is likely to be the worst of both worlds. Commercial real estate owners, with large investments in central city office buildings, as well as their bankers, have been the strongest promoters of the blended work model. For them, the advantages are obvious, since hybrid work would minimise the reduction in central office utilisation after the pandemic. For other employers and employees, as well as public transport operators and service businesses, hybrid work is likely to prove expensive and inefficient. Employers' expenditure on central office space will remain high while employees need larger and more expensive accommodation to work from home, much of which is used only some of the time. Travel costs and commuting times will remain high, borne by either employers or employees. Public transit operators will face a cut in the number of journeys, capacity utilisation and fare income, which will be challenging financially given their relatively high share of fixed costs. Centrally located service businesses depending on office workers w...
Sydney firm bucks hybrid work trend, adds more space and piano to get staff back
(BLOOMBERG) - It is literally music to the bosses' ears. Canadian investment giant Brookfield Asset Management is bucking the hybrid work trend by introducing a slew of creative measures, including putting a grand piano in the office lobby for executives to have a go at it. In the Asia-Pacific headquarters of the world's second biggest office landlord in Sydney, 90 per cent of staff have been coming in for close to a year, according to Ms Sophie Fallman, managing partner and head of Australia real estate. And she's betting that office life isn't dying any time soon, echoing sentiments of Brookfield chief executive officer Bruce Flatt, who has said he's planning to add to his US$210 billion (S$283 billion) real estate portfolio. "We are an office-based culture, it's best when we are together," Ms Fallman said in an interview. "It's a value known and understood throughout our firm. That doesn't mean people don't realise that everyone has a life outside the firm, we're all adults about it." It is a very different scenario from many workplaces globally and even in Australia, where strict early lockdowns have kept the virus at bay while allowing for the opening of most big cities. Wall ...
More firms in Singapore set to cut office space in coming months amid Covid-19
SINGAPORE - More office space is expected to be freed up or vacated in Singapore in the coming months as companies here review their workplace needs in light of changes brought about by the Covid-19 pandemic. Over the past year, real estate consultancy firms have seen a significant uptick in the number of companies rethinking - many for the first time - their office work arrangements. 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.
MothersonSumi INfotech and Designs Ltd. (MIND) Announces the Opening of a New Office in Singapore, Expanding Global Operations
Singapore, Jul 1, 2021 - (ACN Newswire via SEAPRWire.com) - Mothersonsumi INfotech and Designs Ltd. (MIND) a technology and Industrial solutions division of Motherson Group, today announced the official opening of its new office in Singapore. MIND's Singapore office will serve as the headquarters for the entire Southeast Asia region and will be an essential pillar in its geographic expansion strategy. MIND's Singapore business unit will offer a holistic gamut of IT service offerings, including digital transformation, Cloud Hosting and Migration, Next Gen IT Infrastructure, Smart Factory Automation and digital engineering services. With its Singapore base, MIND is looking to expand its best-in-class services to customers across Thailand, Vietnam, Indonesia, and Malaysia and to other countries in Far East."The launching of the MIND Singapore office is aligned with our commitment to drive clients' success in the region and worldwide. Given Singapore's position as the hub for economic activities in the Southeast Asia, it's a market we constantly evaluated and wanted to open an office to expand our presence in the market," said Rajesh Thakur, Chief Executive Officer, MIND. He further ad...