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NOV
15

Global business leaders gather in Singapore for the launch of YPO's Networks Converge

A networking and roundtable series held in Singapore on 6-8 November 2019

SINGAPORE, Nov. 15, 2019 /PRNewswire/ -- More than 100 chief executives from 15 countries around the globe gathered from 6-8 November in Singapore for the launch of Networks Converge, a networking event hosted by YPO, the premier global leadership community for chief executives. The overarching theme for this inaugural event was "Always with the Future in Mind." For three days, leaders from the digital and marketing, hotel, food & beverage as well as real estate & construction industries gathered for networking, cross industry collaboration, and learning discussions on the digital future, the shared economy, sustainability, business innovation and other major business trends

Speaking at a fireside chat on Wednesday, 6 November on the opening day of Networks Converge, YPO Chairman Elizabeth Zucker noted, "One of the main reasons why members join our organization is to be part of a community of peers who connect at a deeper level. YPO networks provide such an extraordinary opportunity for members who share similar passions to learn, connect and collaborate. I'm thrilled to have been part of our first Networks Converge event, and Singapore was the perfect international location for it."

In his opening keynote speech at YPO's Networks Converge on Thursday, 7 November, Singapore's Minister for National Development Mr. Lawrence Wong shared Singapore's urban planning experiences and strategies with global business leaders saying, "We plan on making our city smarter and are harnessing technology across a whole lot of different areas." He then cited examples of how Singapore is using drones for building inspections, testing autonomous vehicles and shuttles, and building 5G standalone networks. Mr. Wong added that while technology is a big push when building better cities, the imperative is to have a city that is people-centred, and planning strategies should focus on creating attractive places where people can live, work and play. Mr. Wong also commented, "We are pushing for Singapore to be one of the greenest and most sustainable cities in the world," and elaborated on plans to continue to enhance Singapore's greenery, ramp up deployment of renewable power as well as scale up on green buildings.

YPO's Networks Converge featured many additional speakers who shared their groundbreaking approaches to tackling challenges and opportunities in business and beyond including:

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NOV
15

Wheaton Precious Metals Reports Strong Growth in Earnings and Cash Flow and Declares Fourth Quarterly Dividend of 2019

TSX: WPM
NYSE: WPM

VANCOUVER, British Columbia, Nov. 15, 2019 /PRNewswire/ -- Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce its results for the third quarter ended September 30, 2019. All figures are presented in United States dollars unless otherwise noted.

In the third quarter of 2019, Wheaton generated over $140 million in operating cash flow resulting in adjusted net earnings of over $70 million, an increase of 31% and 107%, respectively. In addition, Wheaton had attributable gold production of over 100,000 ounces and remains on track for record annual gold production in 2019.

Operational Overview




Q3 2019

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NOV
15

EPIKInDiFi Launches its 'Digital Self-Service' Collection Product, ClickEZ

MUMBAI, India, Nov. 15, 2019 /PRNewswire/ --

Key features of ClickEZ

  • Intuitive - highly engaging Customer Experience which allows customers to interact at the time of choosing through a Digital-Self-Service Portal
  • Personalised - Using predictive analytics and data-driven intelligence, lenders can personalise communication
  • Effective - Using neurodesign technology in the UX process, it ensures better ROI for banks and credit providers

Key take-away

  • Ease of scaling the collection operations without manpower increase
  • Significant cost reduction as compared to traditional in-house collection model

EPIKInDiFi, a scale up niche software solutions company founded in Chennai, India in 2017 by a team of bankers, technologists and entrepreneurs, has launched its latest product ClickEZ, which is a next-generation 'Digital Self-Service' collection product providing a highly engaging customer experience while allowing lenders to use its predictive analytics and data-driven intelligence to personalize communication to every micro-segment of its customer base.

ClickEZ is designed to offer customers the feature of making payments on its platform, which is integrated with leading payment gateways with a fully automated status update mechanism. ClickEZ also provides for a payment plan option to arrange for overdue payments with flexibility of changing the frequency, amount and start date; which is under the control of the lender thereby improving collection success rates. For lenders employing this solution, ClickEZ provides benefits of ease of scaling the collection operations without manpower increase leading to significant cost reduction in operations while providing an effective, personalized and engaging customer experience

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NOV
15

Cango Inc. Reports Third Quarter 2019 Unaudited Financial Results and Issues Notice of Annual General Meeting

SHANGHAI, Nov. 15, 2019 /PRNewswire/ -- Cango, Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the third quarter of 2019.

Third Quarter 2019 Financial and Operational Highlights

  • Total revenues in the third quarter of 2019 were RMB351.3 million (US$49.1 million), representing a year-over-year increase of 23.2% and outperforming the high end of the Company's guidance by 8.1%.
  • After-market services facilitation revenues in the third quarter of 2019 were RMB40.7 million (US$5.7 million), continuing to serve as an important driver for the Company's revenue growth.
  • Income from operations in the third quarter of 2019 increased by 17.8% to RMB89.7 million (US$12.6 million) from RMB76.2 million in the corresponding period of 2018.
  • Net income in the third quarter of 2019 increased by 14.9% to RMB122.1 million (US$17.1million) from RMB106.3 million in the corresponding period of 2018. Non-GAAP net income in the third quarter of 2019 increased by 21.5% to RMB146.0 million (US$20.4 million) from RMB120.2 million in the corresponding period of 2018.
  • The amount of financing transactions the Company facilitated in the third quarter of 2019 totaled RMB5,769.4 million (US$807.2 million). The total outstanding balance of financing transactions the Company facilitated was RMB36,500.5 million (US$5,106.6 million) as of September 30, 2019.
  • M1+ and M3+ overdue ratios for all financing transactions that remained outstanding and were facilitated by the Company were 0.85% and 0.33%, respectively, as of September 30, 2019, as compared to 0.72% and 0.30%, respectively, as of June 30, 2019.
  • The number of dealers covered by the Company continued to grow sequentially, reaching 49,396 as of September 30, 2019, compared to 48,367 as of June 30, 2019.

Mr. Jiayuan Lin, Chief Executive Officer of Cango, commented, "In the face of adverse market conditions and industry-wide challenges, we remained focused on executing our growth strategies in the third quarter. Accordingly, we further expanded our dealership coverage, optimized our service offerings, and leveraged our industry partnerships to deliver a robust financial performance. In particular, we continued to hone our core competencies in the auto financing market through our auto loan facilitation services. Our burgeoning dealership network and highly efficient direct coverage model also enabled us to enhance the operating capacities of our partnered dealers, further improving both our service quality and efficiency in turn.

Additionally, we focused on accelerating the development of our after-market services, which have become an integral component of our long-term growth strategy. Going forward, we expect the near-term headwinds and macroeconomic slowdown to persist throughout the first half of 2020. Nonetheless, we are confident in the strength of the foundation we have built through our leadership in the auto financing market as well as strategic partnerships with some of China's largest financial institutions and original equipment manufacturers (OEMs)."

Mr. Yongyi Zhang, Chief Financial Officer of Cango, stated, "In the face of difficult macroeconomic conditions and the contraction of China's auto market, we maintained our strong growth momentum to deliver solid financial results in the third quarter of 2019. Our total revenues increased by 23.2% year over year to RMB351.3 million in the third quarter. Our after-market services facilitation business continued to serve as an important growth engine, contributing RMB40.7 million or 11.6% of our total revenues in the third quarter. More importantly, we also expanded our profitability as a result of the increased economies of scale as well as the successful implementation of our cost control initiatives. Our income from operations and net income increased, by 17.8% and 14.9% to RMB89.7 million and RMB122.1 million, respectively, in the third quarter of 2019. Going forward, we plan to continue investing in the expansion of our geographic footprint, refinement of our service offerings, and development of cutting-edge technology. We will forge ahead and strengthen our ties with additional financial institutions and OEMs, further propelling our growth trajectory in spite of the challenging macroeconomic situation."

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NOV
15

RISE Education Announces Third Quarter 2019 Unaudited Financial Results

BEIJING, Nov. 15, 2019 /PRNewswire/ -- RISE Education Cayman Ltd ("RISE" or the "Company") (NASDAQ: REDU), a leading junior English Language Training ("ELT") provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2019.

Highlights for the Third Quarter of 2019

  • Total revenues increased by 18.4% year-over-year to RMB411.1 million (US$57.5 million) in the third quarter of 2019.
  • Net income attributable to RISE increased by 19.7% year-over-year to RMB39.4 million (US$5.5 million) in the third quarter of 2019.
  • Non-GAAP net income attributable to RISE[1] increased by 22.4% year-over-year to RMB48.5 million (US$6.8 million) in the third quarter of 2019.
  • Adjusted EBITDA1 increased by 37.1% year-over-year to RMB88.9 million (US$12.4 million) in the third quarter of 2019.
  • Student enrollments[2] for Rise regular courses, including Rise Start and Rise On, increased by 14.7% year-over-year to 14,700, which includes 6,492 students in the cities where the collection of standard tuition has been broken into 3 to 4 installments since December 2018; 6,782 in the other cities where the Company continues to collect tuition for the full course and 1,426 from the newly acquired Shijiazhuang business which was fully consolidated in the third quarter of 2019. Student enrollments for other Rise courses were 1,175 in the third quarter of 2019, including 354 from online courses, 288 from short-term and SSAT test-prep courses, and 533 from The Edge Learning Centers Limited ("The Edge").
  • The total number of the Company's learning centers increased to 451, consisting of 87 self-owned (including 7 operated by the newly acquired Shijiazhuang business and 2 operated by The Edge) and 364 franchised learning centers.
  • Student retention rate at self-owned learning centers was 69% in the third quarter of 2019, compared with 71% for the same period of the prior year.
  • The one-year share repurchase program approved by the Board of Directors in November 2018 completed during the quarter. The Company repurchased a total of 1,158,741 ADSs on the open market, at an average price of US$8.66 per ADS, for an aggregate consideration of US$10.0 million.

Three Months Ended


September 30,

(in thousands RMB, except for percentage and per ADS data)

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NOV
15

Senmiao Technology Announces Unaudited Financial Results for its Second Fiscal Quarter Ended September 30, 2019

CHENGDU, China, Nov. 15, 2019 /PRNewswire/ -- Senmiao Technology Limited (NASDAQ: AIHS) ("Senmiao"), a provider of automobile transaction and related services in China, today announced its unaudited financial results for its second fiscal quarter ended September 30, 2019.

Second Quarter of Fiscal 2020 Highlights

  • Total revenues increased by 8,180% year-over-year to $5,921,166 from $71,508
  • Gross profit increased by 1,595% year-over-year to $1,211,982 from $71,508
  • Earnings per share of $0.04 versus loss per share of $0.03 in same period last year

"We have continued to capitalize on our late 2018 acquisition and subsequent development of our automobile transaction and related services business.  Through our business development efforts, we have taken major steps to restructure our business to better diversify and streamline our revenue streams as we wind down our online peer-to-peer lending business, and our efforts have led to another strong quarterly performance," commented Xi Wen, Chairman, Chief Executive Officer and President of Senmiao.  "With our automobile transaction and related services business now accounting for almost all of our revenue, our main focus is to continue to ramp up these operations as the ride-sharing market in our areas of operation expands, particularly in the second and third tier cities in China.  These developments have placed our business in an outstanding position as we posted positive earnings per share this quarter, the first since our listing on the Nasdaq last year. We believe we have laid the foundation to continue our growth as we focus on other complimentary opportunities for expanding our business."

Revenues

Total revenue was $5,921,166 for the quarter ended September 30, 2019, an increase of $5,849,658, or 8,180% as compared with the quarter ended September 30, 2018, primarily due to Senmiao's significant ramp up of its automobile transaction and related services business (the "Auto Business").

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NOV
15

Ionix Technology, Inc. Announces First Quarter 2020 Financial Results

LAS VEGAS, Nov. 15, 2019 /PRNewswire/ -- Ionix Technology, Inc. (OTCQB: IINX), ("Ionix Technology", "IINX" or "the Company"), a business aggregator in photoelectric display and smart energy fields, announced its financial results for the three months ended September 30, 2019.

First Quarter 2020 Financial Highlights:

  • Total revenues increased by 192 % from the three months ended September 30, 2018 to three months ended September 30, 2019.
  • Gross profit increased by 394% from the three months ended September 30, 2018 to three months ended September 30, 2019.
  • Net income increased by 302% from the three months ended September 30, 2018 to three months ended September 30, 2019.
  • Gross profit margin maintained at 19.0% during the three months ended September 30, 2019 as compared to 11.3% for the three months ended September 30, 2018.

"The fiscal year 2020 is off to a good start. With another strong quarter of operations, Ionix Technology is building a solid track record of execution," said Mr. Cheng Li, Chairman of Ionix Technology. "The first quarter performance speaks to our differentiated market position, as we invest continuously in innovation to create compelling solutions for our customers."

Mr. Li continued, "With a broad and growing product portfolio, Ionix Technology remains well-positioned to benefit from the long-term growth of the photoelectric display industry."

Revenue

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NOV
15

MoneyGram and Wing to Launch a New Mobile Wallet Service in Cambodia

Allows customers to receive funds conveniently and directly at anytime

PHNOM PENH, Cambodia, Nov. 15, 2019 /PRNewswire/ -- MoneyGram International, Inc. (NASDAQ: MGI), one of the world's largest money transfer companies, announced today that it is partnering with Wing (Cambodia) Limited Specialised Bank, Cambodia's leading mobile banking service provider, to offer a new service that will allow customers to receive funds directly into their mobile wallets.

"With 80 percent of our online transactions being made on a mobile device, we are looking to provide even more options for our customers using our digital platforms," said Alex Holmes, MoneyGram president and CEO. "Wing is at the forefront of mobile money and electronic payments, and this mobile wallet tool will serve as a valuable asset for the under-banked in Cambodia, allowing consumers to conveniently and reliably send money across digital boundaries from anywhere."

Under this partnership, MoneyGram customers can remit and receive money conveniently via Wing Money mobile app. Customers also have the option to cash out using any of 7,000 WING cash Xpress outlets in Cambodia.

"It's our commitment to provide every Cambodian with convenient access to mobile financial services relevant to, and for the improvement of, their daily lives," said Manu Rajan, Chief Executive Officer of Wing. "Our partnership with MoneyGram has allowed us to increase our global presence and keep friends and family from around the world connected. MoneyGram is an innovative company and their omnichannel strategy helps give these customers more choice. This new service is just one more example of how we never stop working to provide the people of Cambodia with the best products and services possible."

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NOV
15

China Lending Corporation Reports Unaudited Financial Results for the Six Months Ended June 30, 2019

BEIJING, URUMQI and HANGZHOU, China, Nov. 15, 2019 /PRNewswire/ -- China Lending Corporation ("China Lending" or the "Company") (OTC Pink Sheets: CLDOF), a non-bank financial corporation servicing micro-, small- and medium-sized enterprises in China, today reported its unaudited financial results for the six months ended June 30, 2019.

Highlights

  • On November 19, 2018, Feng Hui Ding Xin (Beijing) Financial Consulting Co., Limited ("Ding Xin") and a third-party company established Zhiyuan Factoring (Guangzhou) Co., Ltd. ("Zhiyuan"). On November 29, 2018, Ningbo Ding Tai Financial Leasing Co., Ltd. ("Ding Tai") and Ding Xin acquired 98.04% and 1.96%, respectively of equity interest in Hangzhou Zeshi Investment Partners ("Zeshi"). As part of its restructuring plan, the Company intends to launch new supply chain financing services through Zhiyuan and Zheshi in the near future. Such future services include a business factoring program, financing product design, related corporate financing solutions, investments and asset management, etc. As of June 30, 2019, Zhiyuan had loans receivable of approximately US$48.79 million due from three customers.
  • For the six months ended June 30, 2019, the Company issued one loan of $43.69 million to one customer of Zhiyuan, compared to the issuance of 3 loans by the Company with an aggregate amount of $1.21 million for the six months ended June 30, 2018.
  • Interest and fee income increased by $2.58 million, or 5,044%, to $2.63 million for the six months ended June 30, 2019, from $0.05 million for the same period of 2018. The increase was mainly caused by $2.22 million of interest income generated from loans disbursed to Zhiyuan's customers.
  • The Company reversed the impairment loss of $3,346,760 for the investment in the cost method investee, according to an adjudication issued by the People's Intermediate Court of Xinjiang Urumqi. Pursuant to the adjudication, the Company's investment in the cost method investee, valued at $3,346,760, should be transferred as a repayment of the borrowings from the debtor.
  • In addition, as the cost method investee was no longer the Company's affiliate, the Company has reclassified the related borrowings from a cost method investee to borrowings from a third party and reclassified the related interest expenses on loans from a cost investment investee to interest expenses on loans from third parties.
  • Provision for loan losses decreased by $22.44 million, or 47%, to $25.20 million for the six months ended June 30, 2019, from $47.64 million for the same period of 2018. The decrease in provision for loan losses was because a majority of loan receivables were provided full allowance during the six months ended June 30, 2018.
  • Net loss attributable to ordinary shareholders was $27.13 million, or net loss of $1.07 per share, for the six months ended June 30, 2019, as compared to net loss attributable to ordinary shareholders of $52.15 million, or net loss of $2.83 per share, for the six months ended June 30, 2018.

Ms. Jingping Li, co-founder and chief executive officer of China Lending, commented, "As we shift our resources towards growing more promising businesses including supply chain financing and insurance facilitation, we have also increased our intensity in collecting past-due loans. The Company will seek collection of outstanding loan receivables—even if they are significantly delinquent—and will work for shareholders to seek all repayments due. In addition, since we stopped distributing loans to customers at the end of 2018, our need for loan loss provision has decreased drastically as well. Armed with a stronger balance sheet, we are forging ahead with our business restructuring. Step by step, we are transforming our business into a diversified and nimble non-bank financial services company." 

Financial Results for the Six Months Ended June 30, 2019

Interest and Fee Income

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NOV
14

JLL named Asia Pacific Facilities Management Company of the Year by Frost & Sullivan for fourth consecutive year

SINGAPORE, Nov. 14, 2019 /PRNewswire/ -- JLL was named Asia Pacific Facilities Management Company of the Year for the fourth time in a row at the annual Frost & Sullivan Asia-Pacific Best Practices Awards banquet held at St. Regis Singapore.

Janice Wung, Program Manager, Industrial Practice, Frost & Sullivan noted that JLL had consolidated its position as the leading integrated facilities management services provider in Asia Pacific through strong financial performance as well as new account wins and renewals in 2018 despite the challenging market landscape characterized by high client expectations and evolving facility needs.

The company also owes its resilient brand value to its consistent delivery of high-quality products and services with customer satisfaction and experience as a key priority.

"The introduction of various customer value enhancement strategies and acceleration of its digital transformation journey are firmly placing this service provider at the forefront of innovation and customer experience. By leveraging the strengths of its global portfolio and leadership position, JLL will continue to be the preferred provider of clients across diverse industries," she added.

"We are proud to be named the 2019 Asia Pacific Facilities Management Company of the Year by Frost & Sullivan yet again. This award recognizes our team of over 14,000 staff across 177 cities, in 16 countries and underscores our commitment to delivering bespoke and exceptional services to all our clients across Asia Pacific and the investment we have made in driving the Future of Work," says Mr Susheel Koul, Executive Managing Director, JLL Integrated Facilities Management. We are driving customer value - with our people, technology, workspace ideas – to help our clients reimagine their workplaces for greater productivity and business performance.

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