Morgan Stanley tells staff they’ll need Covid-19 vaccines to enter office

NEW YORK (BLOOMBERG) - Morgan Stanley told employees they will need to be vaccinated against Covid-19 to enter its New York offices, as a growing number of Wall Street firms adopt policies delaying the return of staff who are not protected against the deadly virus. The bank notified workers of the policy in a memo. Just last week, chief executive officer James Gorman fired off a warning shot to staff still uncertain about wanting to return to the office. "If you can go to a restaurant in New York City, you can come into the office and we want you in the office," he said at a conference. Mr Gorman estimated that more than 90 per cent of employees back in the offices were already vaccinated and expected that number to inch up closer to 100 per cent. While the bank has not mandated a full return to office like Goldman Sachs and JPMorgan, Mr Gorman said if the offices were not filled up by Labour Day in September, "then we'll have a different kind of conversation". BlackRock informed its US workforce of a similar plan last week, saying it would allow only fully vaccinated workers to come back to work starting next month. Bank of America also plans to prioritise the return of vaccinated...

Tech that tracks you at work

(REUTERS) - Reservation systems for seats. Algorithms that say whether a location is crowded or not. Cameras to show what's happening in real time. Trackers that let others know you are there. Technology that has swept the world for convenience, curiosity and accountability is arriving at workstations of United States bank employees, as they prepare to return to offices in the coming months because of the pandemic easing, industry sources and outside vendors said. Banks including JPMorgan Chase & Co, Goldman Sachs Group, Citigroup, Deutsche Bank and HSBC Holdings plan to have workers commute to buildings in New York and other US cities soon, after more than a year of largely work-from-home situations. But not everyone can return at once: Banks will have to extend practices like those used for small teams of traders during the pandemic. Shifting rotations of people will pass through giant buildings on different days, without clustering in the same areas on the same floors, to avoid spreading Covid-19. Some of the banks are implementing systems where employees will book "hot seats" on particular days and be monitored while they are sitting at them, sources said. In some buildings, th...

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Kingsoft Announces 2021 First Quarter Results

HONG KONG, May 25, 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 31 March 2021 ("period under review").During the period under review, the revenue of Kingsoft increased 33% year-over-year to RMB1,559.6 million. Revenue from the online games and others and office software and services represented 51% and 49%, respectively, of total revenue. Gross profit increased 36% year-over-year to RMB1,315.9 million, while profit attributable to owners of the parent increased 1,763 % year-over-year to RMB116.6 million. Mr. Jun LEI, Chairman of Kingsoft, commented, "Our first-quarter results signal a good start for the year as we continued to focus on office application services for government, enterprises and individuals, and high-quality IP and premium games. Kingsoft Office Group seized the opportunity for digital transformation and will continue to develop the ecosystem for cloud and collaboration. In our online games business, we maintained steady development of our core games while ac...

Rich families set up family offices in S’pore: What are they and how are they regulated?

SINGAPORE - Family offices come in a range of shapes and sizes but their central mission statement - to manage wealth - rarely varies. A single family office caters to the needs of just one family. Leaner ones can focus on investment and wealth management only, with a small team of just three to five professionals and a couple of family members. 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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How Google is creating its new offices

(NYTIMES) - Google is creating a post-pandemic workplace that will accommodate employees who have got used to working from home over the past year and don't want to be in the office all the time anymore. The company will encourage - but not mandate - that employees be vaccinated when they start returning to the office, probably in September. And over the next year or so, Google will try out new office designs in millions of square feet of space, or about 10 per cent of its global work spaces. The plans build on work that began even before Covid-19 sent Google's workforce home, when the company asked a diverse group of consultants - including sociologists who study "Generation Z" and how junior high students socialise and learn - to imagine what future workers would want. The answer seems to be Ikea meets Lego. Instead of rows of desks next to cookie-cutter meeting rooms, Google is designing "team pods". Each pod is a blank canvas: Chairs, desks, whiteboards and storage units on casters can be wheeled into various arrangements and, in some cases, rearranged in a matter of hours. To deal with an expected blend of remote and office workers, the company is also creating a new meeting r...

Higher demand for childcare, maids and gadgets in S’pore as more people return to workplace

SINGAPORE - When Ms Pamela Wah, 26, heard that she could return to the workplace from last Monday, she immediately ordered a portable breast pump costing $92. The accounts manager at a tech company, who has a seven-month-old child, has to return to the office for five days a week. She said the wired pump she uses at home would be inconvenient to use in the office or at a client's place. 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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The Executive Centre launches the “What Is An Office” campaign

HONG KONG, Apr 8, 2021 - (ACN Newswire via SEAPRWire.com) - The pandemic has led to the greatest debate of all time - do people even need an office and if so, what do they want? Today, The Executive Centre (TEC), the leading premium flexible workspace provider across Asia Pacific and the Middle East, launches the "What Is An Office" campaign, which examines the elements that make up a dynamic, productive workspace.The campaign consists of a brand video, plus 4 product videos that examines how the workforce views the role of an office and asks the central question, "What Is An Office?" The short films explore how a positive working environment and agile working practices can help business operations, shedding light on the fundamental importance of a multi-purpose office to a company's success. "The break from office has pushed people to reconsider what they require to create a positive working environment. People are waking up to the fact that an office should be more than four walls around a desk. -- It is a space which fosters collaboration, communication and creativity," said Paul Salnikow, TEC Founder and CEO. "While human interaction proves to be crucial for work and life, peop...

Britain setting up new health office with Singapore’s Health Promotion Board as model

SINGAPORE - The Health Promotion Board (HPB) in Singapore will be the model for a new office Britain is setting up to lead its efforts to improve and level up the public's health. Announcing the move on March 29, the country's Department of Health and Social Care said: "This office and approach will be modelled on successful methods to this agenda internationally, such as in Singapore, which has a Health Promotion Board, and has pioneered new digital public health schemes, such as their 'National Steps Challenge'." 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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No obvious increase in commuter numbers on trains on first day of eased work regulations in S’pore

SINGAPORE - The morning commuting crowd streamed out of Raffles Place MRT station, most of them office workers walking closely behind one another. From 8.30am to 9.30am on Monday (April 5), the tap of bank and ez-link cards at the gantries was relentless. If not for the wearing of face masks, one could almost forget that people continue to live through a viral pandemic. Work from home seems to be an arrangement of the past. But people whom The Straits Times spoke to said this has been the case for months. Despite Monday being the first day of eased regulations for workplaces, with companies allowed to bring up to 75 per cent of their staff back to the office at any one time, there was no noticeable further crowding in train cars. "There is no difference. All same," a security guard who works near the train station said. "I don't know if this will change. It's a good level." Ms Rebecca Quah, 35, a financial consultant who alighted at Raffles Place MRT station at 8.30am - traditionally the morning peak hour - said: "Companies are not exactly rushing to change their policies. People have become quite comfortable with how they work. "It is only the first day and I think many companies ...

DBS joins global banks surrendering office space in Hong Kong

HONG KONG (BLOOMBERG) - DBS Group Holdings is set to join UBS Group and other global banks giving up office space in pricey Hong Hong with so many staff still working from home. DBS is surrendering some floors in Swire Properties' One Island East tower in Quarry Bay, according to people familiar with the matter who asked not to be identified because the information is private. The lender will release two of the eight floors it currently occupies, one of the people said. A representative for DBS bank didn't immediately comment. A Swire spokesperson said they don't comment on rumours, adding that One Island East is 100 per cent occupied as of Tuesday (March 23). South-east Asia's biggest bank adds to the list of firms paring space in Hong Kong, one of the most expensive office markets in the world. Multinational firms, which are more likely to adopt flexible working arrangements than their local peers, accounted for 75 per cent of the surrendered office stock last year, according to Cushman & Wakefield. BNP Paribas and Standard Chartered gave up floors in their Hong Kong headquarters in the past few months, while UBS relinquished a floor in Sheung Wan's Li Po Chun Chambers late last ...

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Kingsoft Announces 2020 Annual and Fourth Quarter Results

HONG KONG, Mar 23, 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 2020 annual results and fourth quarter results for the period ended 31 December 2020.For the year of 2020, the revenue of Kingsoft increased 28% year-on-year to RMB5,594.2 million. Revenue from the online games and others and office software and services represented 60% and 40%, respectively, of the Company's total revenue for the year of 2020. Gross profit for the year of 2020 increased 31% year-on-year to RMB4,677.0 million, while operating profit increased 83% year-on-year to RMB1,855.1 million.For the fourth quarter of 2020, the Company's revenue increased 8% year-on-year and 15% quarter-on-quarter to RMB1,605.5 million. Revenue from the online games and others and office software and services represented 53% and 47%, respectively, of the Company's total revenue for the fourth quarter of 2020. Gross profit for the fourth quarter of 2020 increased 8% year-on-year and 16% quarter-on-quarter to RMB1,346.9 million, while operating profit increased 9% year-on-year an...

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HKC Announces 2020 Annual Results, Net Profit drops 36% to HK$241.6 Million

HONG KONG, Mar 18, 2021 - (ACN Newswire via SEAPRWire.com) - HKC (Holdings) Limited ("HKC" or the "Company"; stock code: 190) has announced the consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2020 ("Period Under Review").Financial ReviewDuring the Period Under Review, turnover amounted to HK$1,184.0 million (2019: HK$1,036.9 million), and gross profit amounted to HK$662.2 million (2019:HK$682.4 million). Due to reduced higher-margin leasing revenues, gross profit margins dropped to 56% from 66% in 2019. The Group was also negatively impacted by a HK$98.4 million revaluation loss on its investment properties. This marks a reversal of the HK$91.9 million in gains recorded for 2019. As a result, net profit declined 36% to HK$241.6 million. Basic earnings per share amounted to HK39.5 cents, while basic earnings per share for the same period in 2019 were HK52.8 cents. Business ReviewAs regards residential projects, contracted sales were extremely sluggish during the first quarter of the year because of the impact of COVID-19, with sales offices closed and as local governments encouraged people to stay home. As COVID-19 i...

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Alvotech Completes Second Round of a US$100 Million Private Placement

HONG KONG, Mar 15, 2021 - (ACN Newswire via SEAPRWire.com) - Multinational biopharmaceutical company Alvotech has successfully completed a second round of its US$100 million private placement, for US$35 million. The first round which was completed in October 2020, amounted to US$65 million. As part of the first round, Shinhan from Korea, Baxter Healthcare SA from the US and ATHOS (Strungmann Family Office) from Germany invested in Alvotech.In the course of the second round, Alvotech is pleased to announce additional interest from a wider range of investors, including within Iceland and internationally.Robert Wessman, Chairman of Alvotech, said: "We are very pleased to have secured this private placement, as we embark on the exciting phase in our evolution from a developer, to becoming a manufacturer and supplier of biosimilar medicines and we look forward to bringing our first products to market."We have signed partnership deals with leading biosimilar players in all the largest pharmaceutical markets in the world, enabling us to expand access to high quality biologics to patients worldwide."I am particularly delighted in the confidence of first time investors in the company, inclu...

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Singapore property firms face setback as workers stay at home

SINGAPORE (BLOOMBERG) - Singapore's battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state. Shares of commercial developers and real estate investment trusts (Reits) have fallen since authorities announced last month that working from home will remain the default arrangement. The government is trying to minimize the risk of transmission at offices after some cases in the workplace led to community clusters. The move adds to headwinds for developers and Reits, amid questions over what the future holds for offices worldwide even after the pandemic. It will be harder to lease out vacancies and there will be pressure to lower rents if the work-from-home arrangement persists, said Terence Chua, an analyst at Phillip Securities Research Pte. "The new default will cast a pall over occupancies going forward," said Justin Tang, the head of Asian research at United First Partners in Singapore. Mapletree Commercial Trust, which owns Singapore's largest mall VivoCity and a nearby office building in its portfolio, has fallen 3.2 per cent since the Jan 22 announcement. Far East Hospitality Trust has dr...

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Skyscrapers lose lustre for Japanese companies during Covid-19 pandemic

TOKYO (BLOOMBERG) - Japan's decades-long love affair with status-symbol office towers is now fading, as the pandemic upends work styles and puts a strain on company finances. In a country where companies have long taken pride in owning their buildings, advertising agency Dentsu Group and logistics firm Nippon Express are now considering selling their Tokyo headquarters. Avex, an entertainment company, also plans to offload its head office in the Japanese capital. Companies around the world are paring office space as workers stay at home during the pandemic, giving firms an opportunity to save costs and raise cash. In Tokyo, office vacancies have surged to a five-year high and may continue to climb as the government urges people to work remotely to curtail the latest wave of coronavirus cases. "Not many companies in Japan have sold headquarters buildings before, but we may see more of it," said Kakyu Tanaka, a senior researcher at Sumitomo Mitsui Trust Research Institute. Firms that are faced with tough business prospects but have room to reduce office space through remote work may do so, he said. With thousands of its employees working from home, Dentsu is looking to sell its 48-fl...

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Fewer desks, more open spaces: How the pandemic is changing Singapore’s offices

SINGAPORE - It is 8.30am on March 27, 2023. Mrs Aileen Tan takes a water bottle and cardigan from her office locker, picks her desk for the day, and settles down to work. Two hours in, she heads to a soundproof "phone booth" to take a call. Mrs Tan leaves early for a medical appointment, planning to work from home afterwards. If she needs anything in the office, she knows the onsite concierge is on standby to help. 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.

Otterly delightful surprise for office workers in Penang Road

SINGAPORE - Office workers at 9 Penang Road were surprised by some unexpected wildlife guests on Monday (Jan 11). A group of 13 smooth-coated otters were seen trooping through the building towards Fort Canning Park to the delight of their onlookers. Led by one adult, the frolicking family slowly made their way through the 24-hour link to Fort Canning Park. Otters have been spotted in various urban locations in Singapore, including the streets outside Mustafa Centre, a swimming pool of a condominium in Newton and Tan Tock Seng Hospital. In 2018, the relationship between Singapore and its otters was lauded by top international otter expert Nicole Duplaix as a role model for the world on co-existing with the animals. Dr Duplaix said that Singapore is unique because the number of otters that have settled in the country's urban environment is unheard of anywhere else in the world. More on this topic Related Story Otters are the latest exotic pet trend in Asia, but their rising popularity may be their undoing Related Story Have an otterly fun time at Otah's pop-up

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Epazz, Inc: The COVID-19 Pandemic Accelerated the Shift to Remote Work, and a Vaccine Will Bring Employees Back to the Office; Companies Are Using DeskFlex Desk Booking Software to Reduce Office Space and Save Money

CHICAGO, IL, Dec 10, 2020 - (ACN Newswire) - via NewMediaWire - Epazz Inc. DeskFlex (OTC: EPAZ), a provider of mission-critical cloud-computing software solutions and blockchain business solutions such as DeskFlex desk booking software, announced today that customers say having their employees work part time in the office is beneficial for their companies. Employees are more productive, and companies are reducing the size of their office space, sometimes saving hundreds of thousands of dollars in rent. The COVID-19 pandemic accelerated a trend we have been seeing over the past 10 years. Demand for desk booking software will increase once the vaccine is ready for distribution because employees will be back in the office, even if on a part-time basis. DeskFlex has revolutionized organizations' remote work setup worldwide during the pandemic.Results of a recent getAbstract survey revealed nearly 43% of all full-time U.S. employees want to work remotely for a few days and schedule their return to the office on a weekly basis. Of the 1,200 respondents, almost 20% reported their employer is considering future remote work alternatives.The coronavirus threat accelerated the digitization of...

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Singapore, Hong Kong office Reits prove resilient in post-virus world

The office may never reach its past heights in the post-pandemic world, but the outlook for Singapore and Hong Kong offices is promising. Relatively small homes in these cities, short commutes to work and new tech firm tenants bode well for property trusts that focus on these markets. Domestically focused real estate investment trusts (Reits) in these hubs have outperformed their peers in Australia and Japan this year, and continue to rise on the back of a rotation to economically sensitive stocks. Hong Kong's Champion Reit, whose tenants include Citigroup, Singapore's Keppel Reit and Mapletree Commercial Trust, has beaten baskets of equally weighted trusts in Australia and Japan, according to Bloomberg-compiled data. To be sure, no one expects Singapore and Hong Kong offices to be left unscathed from the pandemic. Companies like Citigroup, Mizuho Financial Group in Singapore and Macquarie Group in Hong Kong are giving up office space as demand wavers and they confront a future of some remote work. Singapore's vacancy rates have already risen to 4.9 per cent in the third quarter from 3.3 per cent a year earlier, while the rates for Hong Kong's Grade A office spaces were up at 9 per...

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Kingsoft Announces 2020 Third Quarter Results

HONG KONG, Nov 17, 2020 - (ACN Newswire) - 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 2020 ("period under review").During the period under review, the revenue of Kingsoft increased 34% year-on-year to RMB1,397.3 million. Revenue from online games and office software and services and others represented 56% and 44% respectively of total revenue. Gross profit for the third quarter increased 40% year-on-year to RMB1,157.8 million, while operating profit increased 120% year-on-year to RMB361.5 million. Mr. Jun LEI, Chairman of Kingsoft, commented, "The Company maintained a steady performance in the third quarter of 2020. Our outstanding results are mainly attributed to the increasing market recognition of our Kingsoft Office business as well as our continuous innovation in premium games. Regarding office software, Kingsoft Office's licensing business and subscription services have been rapidly growing year-on-year. We continued to explore technology enhancement in the office software industry, optimize our...