Learn more about the current macroeconomic scenario and Bradesco’s results!

SAO PAULO /PRNewswire-Asia/ — Today watch our Sao Paulo APIMEC Meeting online live at 2:25 p.m. and get informed with lectures on macroeconomics, information technology, and the results and strategies of Banco Bradesco (BM&FBovespa: BBDC3; BBDC4), (NYSE: BBD; BBDO) and Bradesco Seguros e Previdencia.
-Bradesco Strategies and Prospects – Luiz Carlos Trabuco Cappi (CEO)
-Bradesco Seguros e Previdencia Group – Marco Antonio Rossi (CEO of Bradesco Seguros e Previdencia and Executive Vice-President of Banco Bradesco)
-Bradesco Presentation – Luiz Carlos Angelotti (Executive Managing Director and Investor Relations Officer)
-Current Macroeconomic scenario – Octavio de Barros (Chief Economist)
You’ll have the chance to send your questions, which will be answered live by our speakers!
Visit http://www.bradescori.com.br/apm12.
CONTACT:
Mrs. Ivani Benazzi de Andrade
Phone: +55-11-2178-6218
e-mail: 4823.ivani@bradesco.com.br
or Mr. Carlos Tsuyoshi Yamashita
Phone: +55-11-2178-6204
e-mail: 4823.carlos@bradesco.com.br
Source: Banco Bradesco S.A

Frost & Sullivan Recognizes China Telecom Europe for Strongest European Growth among APAC-headquartered Service Providers

In addition to a wide European footprint, it is the only APAC operator to enter the European consumer market
LONDON /PRNewswire-Asia/ — Based on its recent research on the information and communication technologies (ICT) and services market, Frost & Sullivan presents the 2012 Frost & Sullivan European Market Challenger: Asia-Pacific Telecoms Service Provider of the Year Award to China Telecom (Europe) Limited (CTE). The award recognizes the market performance and European success of large, Asia-Pacific (APAC)-headquartered telecom enterprises that offer services to consumers and enterprises in Europe via operational branch offices across the region.
Globalization has driven many European companies to expand into the APAC region. The reverse is also happening, with APAC-based companies expanding their footprint in Europe. Either way, enterprises need ICT infrastructure in terms of services and connectivity between the regions to drive their global business aspirations.
“Our analysis of nine large APAC telecoms service providers that are fully operational in Europe shows continuous growth in terms of turnover and number of employees,” said Saverio Romeo, Industry Manager with Frost & Sullivan’s European telecommunications group. “With an average of 60 per cent of employees that are locals, the typical footprint of these service providers tends to be sub-regional, with headquarters in London and offerings that revolve around intercontinental communications services and data centres.”
Started in 2006, the driving vision of CTE is the creation of the Information Silk Road to connect Europe and Asia. Headquartered in London with subsidiaries in Frankfurt, Moscow, and Johannesburg, and a representative office in Dubai, CTE has shown the strongest growth among its peers. The company’s revenues grew at a remarkable compound annual growth rate (CAGR) of 42.37 per cent from 2008 to 2011, while staffing levels increased by 57.26 per cent over the same period. Currently, CTE customers are mainly large enterprises, but there is an increasing demand from medium-sized companies for its services. Moreover, CTE has introduced more choices of network solutions and innovative business models that have reshaped the traffic pattern as well as empowering its Carrier customers to expand the business development in the Euro-Asia Telecommunication market.
CTE’s Euro-Asia Network (ENS) offers terrestrial links between Europe and Asia . The current round-trip delay from London to Beijing is just 180ms and service availability has been an impressive 100 per cent for nine consecutive months (CTE internal network monitoring statistics).
CTE plans to expand its pan-EMEA (Europe, Middle East, and Africa) PoP network with new operations in other cities. The company has already an extensive network of Internet Data Centres (IDCs) throughout EMEA and APAC, and another 260 in mainland China.
“In May 2012, CTE launched a mobile virtual network operator (MVNO) in the UK to primarily serve the Chinese community, and became the first Chinese telecom operator to launch MVNO services outside China,” said Romeo. “This is a very ambitious project that enables CTE to enter the consumer communications market in the UK and later in Europe.”
In recognition of these factors, Frost & Sullivan is pleased to present CTE with the 2012 European Market Challenger: Asia-Pacific Telecoms Service Provider of the Year Award in the communications and IT services market. Each year, Frost & Sullivan confers this award on the APAC-headquartered telecoms service provider that has expanded its European footprint with respect to communications and IT services during the past 12 months.
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About China Telecom Europe
China Telecom (Europe) Limited (CTE) is China Telecom’s wholly-owned overseas subsidiary for the EMEA region. Established in 2006 and based in London, CTE currently has subsidiaries in Frankfurt, Moscow, and Johannesburg, as well as a representative office in Dubai. CTE is committed to building a 21st century “Information Silk Road” to open up and empower the Euro-Asia communications market in the same way as the ancient Silk Road once transformed trade. Leveraging our unique Euro-Asia Network (ENS), an industry-first Eurasia terrestrial cable system, we link Europe and Asia with 4 high-speed routes, providing high resilience, low latency with diversity to meet the ever growing communication demands between EMEA and Asia, as well as across the globe. CTE offers a comprehensive range of world-class integrated communication solutions that can be customized to fulfill the different requirements of carriers, enterprises, and consumers throughout the EMEA region. Our customers include many Fortune Global 500 companies.
Please visit http://www.cteurope.net to learn more about us.
Contact: Marketing@chinatelecomeurope.com
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.
Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Join Us: Join our community
Subscribe: Newsletter on “the next big thing”
Register: Gain access to visionary innovation
Contact:
Emily Bailey
Best Practices
P: +44-(0)20-7915-7869
emily.bailey@frost.com
Source: Frost & Sullivan

Has Your Flight Been Delayed, Overbooked or Cancelled? This New App Helps Passengers Get Their Compensation

POTSDAM, Germany, Aug. 28, 2012 /PRNewswire-Asia/ — Using refund.me, you can check straight away whether you’re eligible for compensation if your fight was problematic: just enter your flight no. and with a few mouse clicks you will find out how much you could be refunded for. The complaint form, which you can complete on the spot and which can be signed online, can be forwarded to the airline directly.

“Until now, many passengers have forfeited their compensation payments because they considered the complaints procedure to be too cumbersome. That’s why we wanted to create a fast method for helping passengers worldwide. You’ll be able to check if you’re eligible for a claim as soon as you leave the airplane. However, if you prefer to take your time with this, you can use http://www.refund.me instead. Flights can be checked and claimed for up to 3 years retrospectively,” explains Eve Buchner, the CEO of refund.me GmbH.

Easy and hassle-free handling

The passenger only has to enter their flight no. and a few additional details into their smart phone and a few seconds later they will know how much they could expect as a refund. The information is adjusted in accordance with EU regulation 261/2004 and other factors. The complaint form is created in real time; it can be signed by mobile phone or online and is transmitted automatically to the respective airline.

Download in English and German

This app is free for iPhone users:http://itunes.apple.com/en/app/refund.me/id524565639. It will shortly be available for Android, Windows and Blackberry. In the meantime you can now open http://www.refund.me on your mobile in order to check it wherever you are.

The Company

refund.me GmbH is a subsidiary of the venture capital business quantumReality GmbH, which has its headquarters in Potsdam. It was established in 2012 and its intention is to make the rights of passengers more transparent, practicable and easier to enforce. The strategic aim is to use complex logic to convert legal ordinances in the area of passenger rights into automated processes.

Contact: refund.me GmbH | Esther Watorowski | +49-163-47-63-758 | press@refund.me

Wing Tai Properties Announces 2012 Interim Results

Creating Value Through Corporate Restructuring Exercise
Strong Project Pipeline & Market Demand Drive Future Growth

HONG KONG /PRNewswire-Asia/ — Wing Tai Properties Limited (“Wing Tai” or the “Group”, SEHK stock code: 369) today announced the Group’s unaudited consolidated results for the six months ended 30 June 2012.
During the period under review, the Group recorded consolidated profit attributable to equity holders of HK$451.9 million, compared with HK$1,363.5 million during the same period last year. The decrease in profit was mainly due to lower fair value gain on the Group’s investment properties during the period.
The Board of Directors proposed to declare an interim dividend of HK4.2 cents per share (1H 2011:HK3.8 cents), or a total interim dividend payout of HK$56.0 million (1H 2011: HK$50.4 million) based on the total number of shares on 30 June 2012.
Deputy Chairman and Chief Executive of the Group, Mr. Edward Cheng, said: “Despite Hong Kong remaining vulnerable to the lingering global economic instability, the local property sector continued to record stable demand under a low interest rate environment. During this period, while we devoted immense efforts on execution of our property development projects and property sales launches, we have taken strategic steps to continue to transform ourselves into a dynamic and diversified property group with a more streamlined corporate structure.”
During the period under review, the Group carried out two major corporate exercises. In April, the Group disposed its interests in Gieves & Hawkes for an initial cash consideration of HK$408 million, with additional entitlements capped at HK$747 million contingent on Gieves & Hawkes’ revenue growth over the next 18 years. The disposal of this non-core business not only optimized value for its shareholders with immediate cash inflow and reported a gain of HK$276 million, but also allows the Group to be more focused on growing its property businesses.
In May, the Group announced a series of proposed transactions in relation to the listed subsidiary Winsor Properties Holdings Limited (“Winsor Properties”) including group reorganisation, distribution in specie, special cash dividend, disposal of the Group’s entire interest in the reorganised Winsor Properties, and the Group’s offer to acquire independent shareholders’ interest in the distributed asset group. This corporate exercise has streamlined the Group’s overall corporate structure, enhanced its financial position and shareholders’ value by creating a solid platform with greater financing capability to support its future growth. As a result, the Group has reduced the existing holding company discount, consolidated its property interest with more direct control over the portfolio of investment properties, as well as increase recurring earnings and cash flow going forward. The related gain on disposal and accretion to shareholders’ equity will be realised and reported in the second half of this year.
BUSINESS REVIEW
Property Development
During the period under review, revenue and operating profit generated from this segment amounted to HK$208 million and HK$99 million respectively.
The two remaining special units at Forfar were sold for HK$207.4 million revenue. Seymour, in which the Group has a 30% interest, was re-launched in June 2012 with good market reception. Almost all units pre-sold in late 2009 were handed over to owners in the first half of 2012.
The Warren, the Group’s development in Tai Hang was launched for pre-sale in November 2011 and over 55% of the units have been pre-sold to date. Superstructure works are in progress. The project is scheduled for completion in 2014.
The Pak Shek Kok development at Tai Po is at varying stages of development. Providence Peak was launched for pre-sale in May 2012 and over 27% of the units have been pre-sold to date. Meanwhile, Providence Bay has sold over 45% of the units since its pre-sale launched in November 2011. Application for presale consent has been submitted for the remaining lot. The entire development is expected to be completed in phases between 2012 and 2013.
Foundation works for The Pierre at the Mid-Levels are progressing well. This project is scheduled for completion in 2014.
Foundation works for the residential development at Ko Shan Road in Hung Hom, in which the Group has a 50% interest in the joint venture with the Nan Fung Group, are progressing on schedule. The development is scheduled for completion in 2015.
At Belle Vue Residences, a luxury residential development in Singapore, 91% of the units have been sold, out of which 9% were sold in the first half of 2012.
Property Investment and Management
During the period under review, revenue and operating profit of this segment increased 18% and 13% to reach HK$268 million and HK$161 million respectively as compared to the corresponding period in 2011.
As at 30 June 2012, excluding Regent Centre to be disposed of after 30 June 2012, the Group’s portfolio of investment properties, comprising 1.5 million square feet of Grade A office buildings and 0.7 million square feet of industrial buildings in the urban areas of Kowloon, had an aggregate fair market valuation of HK$11,067.7 million.
Landmark East continued to maintain near-full occupancy with spot rent continuing to increase. As at 30 June 2012, W Square achieved an occupancy rate of over 90% while the average occupancy rate for the industrial properties is approximately 94%.
The Group has a 50% interest in the Lujiazui property at Shanghai Pudong’s financial and commercial district fronting the Bund. The property is under construction and is scheduled for completion in 2013.
Hospitality Investment and Management
The Group’s hospitality business under Lanson Place Management recorded a steady profit in the first half of 2012, with a gradual increase in average rental rate despite the softening of Hong Kong hotel market and refurbishment of Lanson Place Hotel. During the period under review, revenue increased 3% to HK$69 million as compared to the corresponding period in 2011 while operating profit was HK$31 million.
As at 30 June 2012, both Lanson Place Jinlin Tiandi Serviced Residences in Shanghai and Lanson Place Central Park Serviced Residences in Beijing achieved over 90% occupancy. Lanson Place Hotel, our luxury boutique hotel in Hong Kong, continues to be well-recognised by travellers and won various awards including the Asia Pacific Hotels Awards “The Best Hotel, Hong Kong 2012”, the Travel & Leisure Magazine’s 2011 Annual Travel Awards “2011 Best Boutique Hotel” and the TripAdvisor “Top 25 Trendiest Hotels in China”.
PROSPECTS
Looking forward, the global economy is likely to stay volatile for the rest of 2012, leading to slowing economic growth in China and Hong Kong. There is uncertainty where the Hong Kong property market is heading under the new government housing policy. However, given Hong Kong’s solid economic fundamentals, steady market demand, continued low interest rate environment, and potential increase in land supply by the government, the Group remains cautiously optimistic on the prospects of Hong Kong’s property market.
The financial impact of the corporate exercise on Winsor Properties will be fully reflected in the second half of 2012, including as estimated gain on disposal of approximately HK$240 million and accretion of shareholders’ equity of approximately HK$630million, subject to audit.
In property development, earnings and cash flow in the second half will be driven by sales at Seymour, Providence Bay and Belle Vue Residences. The occupation permit for the various phases of Providence Bay is expected to be granted in the fourth quarter, upon which the revenue and profit of all sold units and new sales will be recognized. Subject to market conditions, the Group will re-launch The Warren and release for pre-sale The Pierre in Mid-Levels. The Group will closely monitor the market to identify the right window of opportunity to launch its projects, and continue to acquire new sites to replenish land bank for further expansion.
For investment property business, the Group expects to continue to benefit from the strong demand arising from the tight office supply, decentralization trend and development of Kowloon East. Landmark East and other properties are likely to see further upward rental reversion with high occupancy. The Group expects its dynamic portfolio of boutique hotel and serviced residences to continue delivering good operating performance. At the same time, Lanson Place will actively explore investment and management opportunities in the region for further expansion.
Mr. Cheng concludes: “Barring unforeseen circumstances, the results for the coming full year are expected to be promising with the recognition of development project earnings and increasing recurring income. With an enhanced platform and strengthened balance sheet, we will remain vigilant against any near-term market volatility and work diligently to execute our projects and capture expansion opportunities.”
About Wing Tai Properties Limited
The business of Wing Tai Properties Limited (SEHK stock code: 369) (Previously known as USI Holdings Limited) spans three core areas: property development under the Wing Tai Asia brand; property investment and management arm; and the hospitality investment and management arm under its Lanson Place brand in Hong Kong, Shanghai, Beijing, Singapore and Kuala Lumpur. Wing Tai Properties was listed on the Stock Exchange of Hong Kong Limited in 1991.
CONDENSED CONSOLIDATED INCOME STATEMENT
For the six months ended 30 June 2012
Unaudited
Six months ended 30 June
2012 2011
HK$’M HK$’M
(re-presented)

Continuing operations
Revenue 652.7 921.5
Cost of sales (233.8) (478.9)
_________ _________
Gross profit 418.9 442.6
Other gains, net 22.8 41.5
Selling and distribution costs (47.5) (40.8)
Administrative expenses (142.8) (126.4)
Change in fair value of investment properties 60.2 1,491.2
_________ _________
Profit from operations 311.6 1,808.1
Finance costs (47.8) (43.4)
Finance income 5.0 3.4
Share of results of associates 31.9 46.8
_________ _________
Profit before taxation from continuing operations 300.7 1,814.9
Taxation (47.5) (55.2)
_________ _________
Profit for the period from continuing operations 253.2 1,759.7

Discontinued operations
Loss for the period from discontinued operations (22.3) (25.2)
Gain on disposal of subsidiaries 275.6 –
_________ _________
253.3 (25.2)
_________ _________
Profit for the period 506.5 1,734.5
_________ _________
Attributable to:
Equity holders of the Company
– From continuing operations 198.6 1,388.7
– From discontinued operations 253.3 (25.2)
_________ _________
451.9 1,363.5
Non-controlling interests
– From continuing operations 54.6 371.0
_________ _________
506.5 1,734.5
_________ _________
CONDENSED CONSOLIDATED INCOME STATEMENT (cont’d)
For the six months ended 30 June 2012

Unaudited
Six months ended 30 June
2012 2011
HK$’M HK$’M
(re-presented)
Earnings/(loss) per share attributable to
equity holders of the Company
(expressed in HK dollar per share)

Basic earnings/(loss) per share
– From continuing operations HK$0.15 HK$1.05
– From discontinued operations HK$0.19 HK$(0.02)
_________ _________
HK$0.34 HK$1.03
_________ _________

Diluted earnings/(loss) per share
– From continuing operations HK$0.15 HK$1.04
– From discontinued operations HK$0.19 HK$(0.02)
_________ _________
HK$0.34 HK$1.02
_________ _________

Dividends (expressed in HK$’M) 158.4 136.6
_________ _________
CONDENSED CONSOLIDATED BALANCE SHEET
As at 30 June 2012
Unaudited Audited
30 June 2012 31 December 2011
HK$’M HK$’M
ASSETS AND LIABILITIES
Non-current assets
Land use rights 3.2 3.2
Investment properties 12,896.1 13,894.0
Other properties, plant and equipment 121.5 180.9
Interests in associates 426.1 469.5
Loans to associates 44.7 47.8
Deposits and loan receivables 350.9 306.1
Available-for-sale financial assets 375.2 357.7
Held-to-maturity investments 50.7 65.8
Deferred tax assets 12.6 9.4
Derivative financial instruments 0.2 0.2
_________ _________
14,281.2 15,334.6
_________ _________
Current assets
Inventories 72.4 68.8
Properties for sale 4,332.6 4,227.9
Deposits and loan receivables 168.7 175.0
Trade and other receivables, deposits
and prepayments 389.2 871.8
Available-for-sale financial assets 88.6 –
Held-to-maturity investments 80.9 29.2
Sales proceeds held in stakeholders’ accounts 243.0 146.4
Amounts due from associates 3.7 2.2
Tax recoverable 0.1 0.8
Pledged and restricted bank deposits 11.0 3.5
Bank balances and cash 1,942.4 976.6
_________ _________
7,332.6 6,502.2
Assets of a disposal group classified as held for sale 1,138.3 –
_________ _________
8,470.9 6,502.2
_________ _________
Current liabilities
Trade and other payables and accruals 1,269.3 907.9
Derivative financial instruments 46.7 45.8
Amounts due to associates 0.3 0.3
Tax payable 122.2 90.7
Bank loans due within one year 2,100.3 1,704.6
_________ _________
3,538.8 2,749.3
Liabilities of a disposal group associated with
assets held for sale 169.1 –
_________ _________
3,707.9 2,749.3
_________ _________

Net current assets 4,763.0 3,752.9
_________ _________
CONDENSED CONSOLIDATED BALANCE SHEET (cont’d)
As at 30 June 2012

Unaudited Audited
30 June 31 December
2012 2011
HK$’M HK$’M

Total assets less current liabilities 19,044.2 19,087.5
_________ _________

Non-current liabilities
Bank loans due after one year 2,923.7 3,448.6
Other long-term loans – 35.5
Derivative financial instruments 58.0 67.2
Deferred tax liabilities 144.7 153.5
_________ _________
3,126.4 3,704.8
_________ _________
NET ASSETS 15,917.8 15,382.7
_________ _________

EQUITY
Equity attributable to
equity holders of the Company
Share capital 666.1 663.2
Reserves 12,768.6 12,284.5
_________ _________
13,434.7 12,947.7
Non-controlling interests 2,483.1 2,435.0
_________ _________
TOTAL EQUITY 15,917.8 15,382.7
_________ _________
Source: Wing Tai Properties Limited