Raymond Chu

We had a good session with our unitholders attending our AGM. FY2023 is characterized by sticky inflation leading to unpredecented and record interest rates rises. Management & Board provided insights to unitholders: ✅ The rationale for undertaking the key initiatives we undertook Early amidst rising interest rates environment to Reinforce our balance sheet, Recycle our Capital and Rejuvenate our Assets. ✅ While #ELOG enter 2024 with a robust and stronger balance sheet with no refinancing and high fixed rate hedges, the key risks of (a) Inflation (b) “Higher-for-Longer” Interest Rates (c) Impact of Higher Discount and Capitalization Rates on Valuation & Gearing and (d) Business Confidence remains. ✅ Our views and strategies on how we intend to manage these risks while continuing to leverage on good opportunities to improve our portfolio quality, DPU and NAV. Unitholders not only asked questions on our strategies, they gave feedback & valuable suggestions —> We believe that’s how AGMs should be. There was good decorum and mutual respect for one another. We thank Unitholders who gave Management & Board compliments as it means a lot to us. As per our tradition, we ended the AGM with a sit down lunch with our unitholders and we thank our Board of Directors staying back and interacting with our Unitholders. #ESR #ESRLOGOSREIT #AGM

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At the Bank of China (BoC) head office, Fan Yaosheng, the general manager of its clearing department, highlighted the bank’s strategies and innovations in Renminbi (RMB) clearing services, emphasising their critical role in global financial markets, international trade, and investment. The bank boasts a rich history in the financial landscape, notably in international clearing and remittance.   BoC's international reach includes a network across 64 countries and regions, having been designated as the RMB clearing bank in 15 markets by the People’s Bank of China as of the end of 2023.   In 2023 alone, BoC processed more than RMB 938 trillion ($129 trillion) through the Cross-Border Interbank Payment System, confirming its status as the market leader with the widest coverage of direct and indirect participants.   The bank’s proactive approach focuses on delivering superior RMB clearing services worldwide, particularly in the Asia-Pacific. This effort supports significant initiatives that facilitate trade and investment while strengthening regional financial integration.   Furthermore, BoC’s involvement in various Connect Scheme initiatives has been vital in linking Mainland China with global financial centres, particularly Hong Kong. This has been instrumental in allowing overseas investors access to the mainland’s financial markets, underscoring its expertise in interbank cooperation and cross-border financial services. Foo Boon Ping 胡文彬, Ruoxin Qi, TAB Global SHAILESH JADHAV, Janet liu, Jasmine Lian, Valarie Zhang, Sihui (Sabrina) Song, Grace Tomelden, Hamid Hussain #BankofChina #RMB #GlobalFinance #InternationalTrade #Investment #FinancialInnovation #CrossBorderPayments #FinancialIntegration #AsiaPacific #ConnectScheme #China #HongKong #Interbank #FinancialServices #MarketLeader2

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<<Midea's HK Listing at Risk as Chabaidao IPO Debut Raises Doubt>> A Hong Kong listing for Midea, the world's largest home-appliance maker by market cap, may face heightened risk as investor sentiment is weak with the city's stock market struggling, evident in the steep fall of Chabaidao's shares on their debut. Midea may have to reevaluate the timeline for its Hong Kong listing despite its solid fundamentals and promising earnings prospects. Please click on the following link for the full note by Ada Li and Joyce Ho, Bloomberg Intelligence: https://lnkd.in/gvWFJDrm #HongKongIPO #Chinaconsumer

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MPF Ratings continues to assess the performance of the MPF Funds, highlighting the best performers and providing valuable insights for MPF members! According to the latest data, the 2024 Gold Rated scheme - AIA MPF has multiple funds that have excelled across various investment horizons, securing top positions in their respective categories: ．NO. 1 in 3 Year, 5 Year & 10 Year Return: Equity Fund (Asia) category - AIA Asian Equity Fund ．NO. 1 in Year-to-Date, 1 Year, 3 Year & 5 Year Return: Equity Fund (Global) Index Tracking sub-category - AIA World Fund ．NO. 1 in 5 Year Return: Equity Fund (HK & China) category - AIA Greater China Equity Fund ．NO. 1 in 3 Year Return: Equity Fund (US) category - AIA North American Equity Fund ．NO. 1 in 10 Year Return: Mixed Asset Fund (81-100% Equity) category - AIA Growth Portfolio ．NO. 1 in Year-to-Date & 1 Year Return: ESG Fund category - AIA Green Fund Stay tuned for more insights on MPF fund performance! Note: The data presented is based on MPF Ratings statistics as of August 31, 2024 #mpfratings #MPFScorecard #MPFHealthCheck #MPFFastMover #MPFRConsistentPerformers #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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【#MPFANews Transforming MPF for a Bright Future】 #MPFA Executive Director (Policy) Mr Eric Cheng spoke at an #MPF forum on 28 November, sharing the most recent advancements in the MPF System and key initiatives undertaken by the MPFA to enhance the accumulation of retirement savings for the working population.   Mr Cheng highlighted that according to World Bank's outcome-based assessment framework for private pensions, MPF is doing well in terms of coverage, sustainability and security, and is making good progress in improving efficiency and adequacy. The MPFA is committed to improving the MPF System through various reform initiatives including ongoing efforts to implement #eMPF, drive reduction of fees, optimize investment regulations to facilitate diversification and enhance risk-adjusted return potential, review minimum and maximum relevant income levels for MPF contributions and encourage voluntary contributions. These initiatives aim to enhance retirement protection for the workforce.   #MPFANews #MPFA #MPF #eMPF

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HKEX to Digitalise ETP Servicing Capabilities with Online Platform Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Tuesday) plans to digitise and automate the in-kind creation and redemption process for relevant exchange-traded products (ETP) in 2025 through the adoption of a web-based platform, subject to technical readiness and regulatory approval. This platform will be integrated into the ETP creation and redemption process, connecting key ETP participants with the use of Distributed Ledger Technology (DLT) and smart contracts, and will help increase overall ETP market efficiency, supporting the continued growth of secondary market activity for ETPs. This latest enhancement is part of the Group's ongoing commitment to further elevate the attractiveness and competitiveness of its international ETP ecosystem, replacing several manual, paper-based processes currently present with a goal to simplify the creation and redemption procedures of ETPs and boost market activity. #ETF #StockConnect #HKEX #HongKong #ETP

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SCB EIC Monthly May24 Highlights for Thai economy 2024: - SCB EIC revised down Thailand's GDP in 2024 to 2.5% (from 2.7%), excluding the digital wallet scheme, due to more constrained recovery despite the higher-than-expected GDP Q1 figure. - Going forward 1. Most demand-side components still weaken. Especially, goods exports is likely to expand at a lower rate. Delayed government spending will materialize despite the acceleration of disbursement after the 6month-delayed enactment of the 2024 Budget Act. 2. Downside risks for the rest of 2024; (1) Limited export expansion Thai exports have been recovered less consistent with global trade expansion, e.g. electronic products, machinery, automobiles and parts (2) Slow recovery in manufacturing sector due to high inventory and increase in Chinese imports following China's overproduction problem (3) Weakened private consumption after strong growth over the past two years Thai households are still vulnerable, especially those with incomes less than 60,000 baht per month, which is the new group presenting short in liquidity. - SCB EIC views that the MPC would ease the policy rate by the end of this year to 2.25% and further to 2% at the beginning of next year due to weak momentum of domestic demand going forward from fragile households spending and kick-in structural problems, more pronounced tightening financial conditions, downside economic risks going forward. Full analysis (in Thai): https://lnkd.in/gzRxk5af

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Imagine a world transformed by your actions - what does sustainability mean? For SMEs and startups, sustainability is key to innovation and growth. Join us in building a sustainable future together. Ray Fung, CFA Kelly Ying Tung Chan MSc, FCCA, CAMLP Chak Pan (Andy) Chan CFA, CCRP(CL) Hugh Chow Andy Chung and Human So, I would like to invite you to share your thoughts and contribute to the conversation. Whether you're tagged or not, if you're passionate about a sustainable future, tag others who share your thoughts and contribute to the chain. Let's broaden the conversation because sustainability is essential for everyone. #Sustainability #PowerUpFund #HKD80Billion

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Macro Insights Weekly: Resilient #Singapore Singapore’s growth prospects are bright despite a plethora of internal constraints and external uncertainties. What explains the economic resiliency of the city state? First, despite high costs, Singapore attracts FDI due to world class hard and soft infrastructure. Second, investment-related policy foresight and stability signal commitment to investors. Third, a proactive agenda on health, housing, and education for the population enhance welfare. Fourth, incentives for the next generation of tech and idea help maintain competitiveness. Finally, large financial savings allow for successful and expeditious crisis prevention and mitigation. DBS Bank Wei Liang Chang Full report: https://lnkd.in/g9aNpx3F

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Can VP Bank Turn Around Its Persistent Turmoil?: It has been a tumultuous year for Liechtenstein-based VP Bank with profit pressures, loss of multiple senior personnel and the latest closure of its Hong Kong office. Is a turnaround in sight? #VPBank #financialresults

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Webinar on Vietnam's Banking and Consumer Finance | 12 December 2024 Vietnam's banking and financial services sectors are at a critical juncture, shaped by the challenges of post-pandemic recovery, accelerated digital transformation, and the rising need for tier-1 and tier-2 capital injections. While credit growth is on the upswing, key issues such as asset quality, undercapitalization, regulatory changes, and industry consolidation remain pressing concerns. One would be interested, please check out the detail agenda and register to participate: https://lnkd.in/gy5pDeKG #VietnameseBanking #VietnameseConsumerFinance #VietnameseBankingTransformation Mary ( Kieu-Oanh) Tran | Lam Pham | Hieu Nguyen | Chelsea Khanh Le, MCom | Huy Mac

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【𝗦𝘂𝗻 𝗛𝘂𝗻𝗴 𝗞𝗮𝗶 & 𝗖𝗼. 𝗖𝗼𝗺𝗺𝗶𝘁𝘀 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝘁𝗼 𝘁𝗵𝗲 𝗝𝗮𝗽𝗮𝗻 𝗔𝗹𝗽𝗵𝗮 𝗙𝘂𝗻𝗱 𝗡𝗲𝘄𝗹𝘆 𝗟𝗮𝘂𝗻𝗰𝗵𝗲𝗱 𝗯𝘆 𝗔𝗰𝘁𝘂𝘀𝗥𝗮𝘆𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀 】 Sun Hung Kai & Co. Limited (“SHK & Co.”) and its licensed funds management arm, Sun Hung Kai Capital Partners Limited (“SHK Capital Partners”), are pleased to announce their commitment to the 𝗔𝗰𝘁𝘂𝘀𝗥𝗮𝘆𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀 𝗝𝗮𝗽𝗮𝗻 𝗔𝗹𝗽𝗵𝗮 𝗙𝘂𝗻𝗱, which went live on 26 September 2024. This is in addition to SHK & Co.’s ongoing investments in ActusRayPartners’ Asian and European strategies. Other existing clients of ActusRayPartners have also expressed early interest in the Japan strategy. The equity long/short near market-neutral strategy seeks to generate alpha by identifying and capturing inefficiencies in the Japan equity market. ActusRayPartners employs its 𝘋𝘪𝘴𝘤𝘳𝘦𝘵𝘪𝘰𝘯𝘢𝘳𝘺 𝘗𝘳𝘰𝘣𝘢𝘣𝘪𝘭𝘪𝘴𝘵𝘪𝘤 𝘐𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 process, which combines a quantitative base with discretionary adjustments to address quantitative deficiencies. This marks the third alpha strategy launched by ActusRayPartners, following the successful European strategy initiated in 2020 and Asian strategy launched in 2022. The European strategy received the HFM European Performance Award in 2023 and 2024 respectively, and the Asian strategy received the HFM APAC Performance Award in 2024. ActusRayPartners is a Hong Kong-headquartered asset management company equally co-founded by Andrew Alexander, Raymond Chan, and Patrick Cheung in 2019. Several members of the team previously worked together in the Quantitative Hedge Funds division of Macquarie Group. As of today, ActusRayPartners comprises of 27 colleagues based in Hong Kong and Sydney, managing over US$700 million across Asia, Europe, and Japan. Tony Edwards, Deputy CEO of SHK & Co., stated, "Congratulations to ActusRayPartners on the launch of their new fund. Since 2020, SHK & Co. has seeded and supported ActusRayPartners, and this further commitment reinforces our confidence in their capabilities and aligns with our investment objectives." “The launch of the Japan Alpha strategy represents an exciting milestone for us. We would like to express our gratitude to SHK & Co. for their continued support over the years,” said the co-founders of ActusRayPartners Limited. “We are eager to employ our proprietary 𝘋𝘪𝘴𝘤𝘳𝘦𝘵𝘪𝘰𝘯𝘢𝘳𝘺 𝘗𝘳𝘰𝘣𝘢𝘣𝘪𝘭𝘪𝘴𝘵𝘪𝘤 𝘐𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 process in the pursuit of alpha for our investors in the Japan equity market.” Press release: https://lnkd.in/gDZH_crG #ActusRayPartners #JapanAlphaFund #NewLaunch #CommitCapital #FundPartnership

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Provision of Southbound Scheme Services under Cross-boundary Wealth Management Connect Pilot Scheme by Authorized Institutions Incorporated Outside Hong Kong

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“Retirement investment reimagined” – our latest retirement research reveals a heightened sense of urgency among non-retired Hongkongers to save for healthcare needs during their retirement, compared to the pre-Covid era, alongside considerations related to inflation and the economic environment in retirement financial planning. Watch the video featuring Lesley-Ann Morgan, Global Head of Pensions and Retirement, to learn more. In the second episode, Lesley-Ann discusses potential solutions to enhance financial preparedness for retirement. https://okt.to/90Kwr7 #Investment #Retirement #Pension

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🇭🇰🇹🇭 Our new collaborative effort on cross-border tokenization ▪ The Bank of Thailand (BOT) and the Hong Kong Monetary Authority (HKMA) have partnered to advance cross-border tokenization through "Project San" and "Project Ensemble" as part of proof-of-concept development. ▪ Under this collaboration, the HKMA and BOT will test a connection between distributed ledger technology (DLT) financial market infrastructures (FMIs) through Project Ensemble, alongside BOT’s Project San. ▪ Specifically, Project San aims to develop and test a prototype tokenization ecosystem. This includes a wholesale settlement engine, Ethereum Virtual Machine (EVM)-compatible ledgers to support tokenized private money and assets, and interoperability mechanisms. ▪ The name "San" (or "สาน" in Thai) holds multiple meanings, including linking interconnected elements and promoting coordination and harmony. In Chinese, "San" translates to "three," representing the third bilateral collaboration on Fintech projects between our organizations. ▪ We believe this partnership will significantly advance tokenization efforts within our financial sectors, both domestically and cross-border. By offering comprehensive insights into tokenization, this initiative considers the unique technical designs, business requirements, and regulatory frameworks of each jurisdiction.

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10/15/2024 Finance Finance & Banking Corporate Governance Insurance Exclusive: HSBC probes China Pinnacle wealth business on costs and control, say sources October 15, 20241:40 AM GMT+2Updated 8 hours ago HONG KONG/SHANGHAI, Oct 14- HSBC Holdings Plc (HSBA.L), is reviewing expenses and operational controls at its China digital wealth business Pinnacle, in a move that could result in layoffs and mark an abrupt reversal of the lender's ambition for the unit, several sources said. As part of the review, the lender is looking at staff salary structures and probing whether suppliers inflated expenses, contributing to a sharp spike in costs that outpaced revenues, according to five sources familiar with the matter. The review, which has not been previously reported, started a few months ago, the sources said, requesting anonymity because the conversations are confidential. The review could result in layoffs, two of the sources said. The bank plans to complete the review by the end of this year, one of them said. A spokesperson for the Asia-focussed lender declined to comment. A downsizing of Pinnacle, which was launched in 2020 and sells insurance and fund products, would be a setback for Europe's largest lender by assets, which has doubled down on Asia while divesting from less-profitable businesses elsewhere. Under its new CEO, Georges Elhedery, HSBC, which makes bulk of its revenues and profits in Asia, has been looking to rein in costs, with the bank bracing for revenue to take a hit as major central banks start cutting interest rates. HSBC committed $6 billion for investments in Asia in 2021 - half of that earmarked for Hong Kong and mainland China, as it looked to expand market share in the world's second-fastest growing wealth market. Pinnacle, through its reliance on digital, was meant to expand the bank's reach outside its limited physical branch presence in China. Since 2020, the bank has injected $390 million into the two main operating legal entities of Pinnacle in China, a Reuters review of official business registration records shows. The division employed at least 1,700 personal wealth planners as of June, the bank said, and the headcount was set to grow to 1,900 by the end of 2024. HSBC originally aimed to hire 3,000 wealth managers in China by 2025. The Pinnacle review underscores the challenges HSBC faces in boosting revenue in China. The Greater China region, which includes Hong Kong and Taiwan, is the group's biggest income generator. It is, however, the only market globally where HSBC's wealth and personal banking business, which Pinnacle is part of, is not profitable yet. In the first half of 2024, the unit reported $46 million in loss compared to $90 million in the year-ago period. Page 1 continue A man walks past a HSBC bank branch in the City of London, Britain November 12, 2014.

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