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Archive for June 27th, 2016

FXTM Rewards Clients with New Loyalty Program

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LIMASSOL, Cyprus /PRNewswire/ — Global award-winning forex broker FXTM has launched its most extensive loyalty program yet – the FXTM Loyalty Cashback (Terms and Conditions apply). Being the first to introduce the innovative and straightforward approach of continuously rewarding traders with real withdrawable money, FXTM once again proves that it values clients’ experience above all else.

(Logo: http://photos.prnewswire.com/prnh/20160614/378942LOGO )

The unique program is structured around five levels of rebates and the concept of “Trade. Earn. Repeat,” with each level increasing in how much value the client gets by trading on a per lot basis. As they move from one level to the next, traders get real cash rather than virtual dollars or points.

Jameel Ahmad, VP of Corporate Development and Market Research, comments: “Our new loyalty program is a great way for our active clients to earn more from their trading. We place a lot of value in our traders’ loyalty and remain firmly committed to nurturing an experience that is enjoyable and rewarding for our traders. The FXTM Loyalty program is our way of saying ‘thank you’ for trading with us.”

The new loyalty program joins a long list of recent client-centric solutions that FXTM has developed. These include FXTM Invest – the company’s modern approach to investing – and the FXTM Shares Account, where clients can trade over 180 CFDs on shares, thanks to a direct connection to NASDAQ and NYSE product pricing. FXTM will be unveiling even more products that affirm the broker’s authoritative status in the industry in the very near future.

To find out more about the FXTM Loyalty program, please visit: http://fxtm.co/1ZNmOQL.

Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose. You should not trade unless you fully understand your exposure to the risk of loss. If the risks involved seem unclear to you, please seek independent financial advice. Please read FXTM’s full Risk Disclosure

ForexTime Limited is regulated by the Cyprus Securities and Exchange Commission (Licence number 185/12) and FT Global Limited is regulated by the International Financial Services Commission (license numbers IFSC/60/345/TS and IFSC/60/345/APM).

Source: FXTM
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Written by asiafreshnews

June 27, 2016 at 4:23 pm

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Conversing with Computing Devices: The Race to Humanize Voice Recognition Speeds Up

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SCOTTSDALE, Arizona  /PRNewswire/ — The need for natural, conversational interaction between humans and their devices is increasing as people rely on them for more daily tasks. ABI Research predicts that consumers who engage with voice functionality on a monthly basis will grow to more than one billion by 2021, an 80% CAGR.

Logo – http://photos.prnewswire.com/prnh/20151014/276887LOGO

“Smartphones are usually the first devices people think of in relation to voice input and recognition,” says Eric Abbruzzese, Senior Analyst at ABI Research. “But growth in smart glasses and smart home devices will fuel this trend going forward.”

Within enterprises, ABI Research predicts that natural language processing will prove particularly beneficial in use cases and verticals that demand hands-free functionality, such as in healthcare, oil and gas, factory floors, and construction. Enterprise voice adoption often requires customized dictionaries, applications, and tools. While the major players in voice recognition allow some APIs to extend into these domains, specialists such as Nuance Communications are developing industry-specific voice packages.

Consumer-wise, voice control and conversational interaction is a natural fit for both smart glasses and AR devices, as their primary purpose is to offer hands-free, efficient data display and interaction. Smart home devices like Amazon Echo and Google Home will drive consumer use cases, with growth in AI-powered personal assistants enabling natural and rewarding interaction.

Apple, Google, and Microsoft are the main players on the map, and for good reason—each company is pushing their voice platforms heavily, most recently with Google’s Home voice-powered smart home device. However, it is Amazon that is on ABI Research’s radar. With involvement in automotive through their voice technology, and rapid movement in sales of its voice-supported Echo and Fire devices, Amazon has the potential to see great growth if it capitalizes on its current momentum.

“Conversational interaction is receiving investment as the next frontier for consumer control, beyond search and social,” concludes Sam Rosen, Managing Director and Vice President at ABI Research. “Development of artificial intelligence and transactional commerce will enable conversations such as ordering a pizza or using a virtual travel agent. We expect this to drive the next wave of digital monetization of the service world.”

These findings are from ABI Research’s Transformative Horizon: Voice Recognition and Conversational Interaction (https://www.abiresearch.com/market-research/product/1022738-transformative-horizon-voice-recognition-a/). This report is part of the company’s Video, OTT, AR, & VR sector (https://www.abiresearch.com/market-research/practice/cloud-content-ott/), which includes research reports, market data, insights, and competitive assessments.

About ABI Research

ABI Research stands at the forefront of technology market research, providing business leaders with comprehensive research and consulting services to help them implement informed, transformative technology decisions. Founded more than 25 years ago, the company’s global team of senior and long-tenured analysts delivers deep market data forecasts, analyses, and teardown services. ABI Research is an industry pioneer, proactively uncovering ground-breaking business cycles and publishing research 18 to 36 months in advance of other organizations. For more information, visit www.abiresearch.com.

Contact Info: Mackenzie Gavel
Tel: +1.516.624.2542
pr@abiresearch.com

Source: ABI Research

Written by asiafreshnews

June 27, 2016 at 4:20 pm

Posted in Uncategorized

Argentina Settles With Greylock Capital For $95 Million

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NEW YORK /PRNewswire/ — Daniel A. Pollack, Special Master presiding over settlement negotiations between the Republic of Argentina and its “holdout” Bondholders, issued the following statement today:

I am pleased to announce that The Republic of Argentina has reached a settlement with another large holder of defaulted bonds, Greylock Capital Management LLC, of New York City, for a total of approximately $95 million on bonds with an original nominal value of approximately $68 million.

The Agreement in Principle, signed last night by Greylock and counter-signed by the Republic of Argentina, involves settlement of bonds under the laws of several jurisdictions: New York, Germany, Italy and Switzerland. The settlement is within the terms of the Propuesta of February 5, 2016 issued by the Republic and pursuant to the terms of the Master Settlement Agreement and relevant Instructions. Accordingly, Greylock will not be paid on bonds that are time-barred under relevant periods of limitation, but will surrender those bonds, together with the bonds on which it will be paid. The Floating Rate Adjustable Notes, known as FRANS, will be paid out at 150 per cent of original nominal value. This settlement leaves relatively few claims unresolved, and is a strong demonstration by the Republic of its continued willingness to resolve claims of holders of defaulted bonds.

I will have no further statement on the settlement at this time.

Source: Daniel A. Pollack

Written by asiafreshnews

June 27, 2016 at 4:16 pm

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Huawei Cloud Conference 2016 Held in Auckland

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-Huawei tells Kiwi business to be ready, and be agile

AUCKLAND, New Zealand  /PRNewswire/ — Huawei Cloud Conference (HCC) 2016 was heldearlier today at Auckland’s ANZ Viaduct Events Centre, with experts sharing their vision for the future of the Cloud.

Leo Li, Huawei Southern Pacific Director for Data Centre Solutions said the technology world was entering an era of convergence.
Leo Li, Huawei Southern Pacific Director for Data Centre Solutions said the technology world was entering an era of convergence.

HCC has become a major annual event for the IT industry in China, but this was the first opportunity for New Zealand IT industry figures to attend in Auckland, and with the benefit of local industry insights. For many attendees the event also served as an introduction to Huawei’s IT business, which has launched in New Zealandfollowing the success of the Carrier Network, Enterprise, and Consumer business groups.

Speakers included a range of Huawei experts from China and the Asia Pacific region, and from industry partners IDC, CommVault, and 2degrees.

Huawei CTO of IT Product Line Ronald Raffensperger urged businesses to become dynamic and adaptable as the evolution of Cloud services would be swift. He said the industry was now in the world of ‘Cloud 2.0’ which had seen the shift from simple virtualisation to software-defined solutions and increased automation. However, the next stage of evolution would be to ‘Cloud 3.0’ which would herald “Cloud Native” applications, and another significant change in how we are able to do business.

Mr Raffensperger said Huawei was working to build the future of Cloud services by fostering an open ecosystem which would enable rapid development, expand the potential talent pool, and increase industry scalability.

Huawei South Pacific Director for Data Centre Solutions Leo Li said the technology world was entering an era of convergence and Huawei’s mission statement was to “Make IT Simple, Make Business Agile”.

“Today, Huawei has a team of over 10,000 technical experts in specialised IT R&D facilities around the world. Huawei continues to openly invest in and work with partners to provide innovative, differentiated, and leading IT solutions for customers worldwide. The products and solutions we showcase today are all based on our commitment to simplify traditional IT infrastructure, improve business agility, and create value for businesses.”

For more information, please visit Huawei online at www.huawei.com or follow us on:
http://www.twitter.com/HuaweiAPAC
http://www.facebook.com/HuaweiAPAC
http://www.youtube.com/HuaweiAPAC

Photo – http://photos.prnasia.com/prnh/20160624/8521604160

Source: Huawei
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June 27, 2016 at 4:14 pm

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QuEST Global Recognized as Top Company for Employee Growth and Awards & Certifications by IAOP

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SINGAPORE /PRNewswire/ —

QuEST Global, a pioneer in providing global engineering services, has received recognition by the International Association for Outsourcing Professionals (IAOP) in its 2016 Global Outsourcing 100. IAOP, which acknowledges the world’s best outsourcing service providers and advisors, has listed QuEST as a ‘Top Company for Awards and Certifications and Employee Growth’ in the Leader Size Group. In the ‘Awards & Certifications’ category, QuEST was awarded the highest possible score and in the ‘Employee Growth’ category the company has been ranked significantly higher than the market average.

Last year, QuEST was recognized by IAOP as a Business Leader in Revenue Growth and has also been listed among the Top 100 companies that defined leadership in the global services in business in 2013, 2011, 2010.

On receiving this global recognition, Raman Subramanian, Senior Vice President, QuEST Global expressed, “We are committed to nurturing the passion for engineering excellence as a culture within the organization. We are pleased to see our endeavors getting recognized by an international reputed body like IAOP. A prominent recognition such as this is a re-affirmation of our strategy as we continue to partner our customers who are global leaders in their markets to transform their products and business, through our engineering solutions.”

IAOP is an association for improving outsourcing outcomes by bringing together customers, providers, and advisors in a collaborative, knowledge-based environment that promotes professional and organizational development, recognition, certification and excellence.

About QuEST Global:

QuEST Global is a focused global engineering solutions provider with a proven track record of serving the product development and production engineering needs of high technology companies. A pioneer in global engineering services, QuEST is a trusted, strategic and long term partner for many Fortune 500 companies in the aero engines, aerospace and defence, transportation, oil and gas, power, medical devices and other high-tech industries. The company offers mechanical, electrical, electronics, embedded, engineering software, engineering analytics, manufacturing engineering and supply chain transformative solutions across the complete engineering lifecycle. The company comprises about 8,000 passionate employees operating out of nine different countries intent on making a positive impact to the business of world class customers, transforming the way they do engineering.

For further information, please contact:

hema.Varlani@quest-global.com
anto.ouseph@quest-global.com

Source: QuEST Global

Written by asiafreshnews

June 27, 2016 at 4:14 pm

Posted in Uncategorized

Jebsen Industrial Sees Remarkable Achievements in 2015

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-Will Remain Focused On Delivering Higher Value Through Growth Services to Existing and New Partners

HONG KONG /PRNewswire/ — Jebsen Group (Jebsen), a leader in the marketing and distribution of premium products and services across Greater China, recently celebrated the remarkable achievements made by one of its business units — Jebsen Industrial (JI). JI ended 2015 with a stronger focus on delivering value through expertise in a focused portfolio, attracting partners at a greater geographic reach, thereby laying the foundation for sustainable growth for 2016 and onwards. As one of the longest-standing business units of Jebsen Group, JI is transforming from solely being a distributor to offer all services, from market evaluation to market entry and penetration for its partners, thanks to the Group’s high adaptability and resilience.

In 2015, JI reformed its business structure further by making it more customer focused and prompt in response. In 2016, JI is focused on growing its businesses through investments as well as through new and upcoming technologies and services focusing on Green, Clean and Wellbeing / Health solutions. Through Natural as well as Electronic, Intelligent and Smart Solutions, JI raises its standard in sustainability, efficiency, productivity and hence ROI for its business partners. Its vision is to be the most trusted and recognised business partner for Asia, delivering dynamic and sustainable B2B Growth Solutions.

Automation & Services (A&S) is focused on manufacturing automation and intelligence services to provide Green, Electronic, Intelligent and Smart solutions. A vital partnership is its F&P Personal Robotics in Switzerland, which is a pioneer in collaborative robots interacting with humans, and providing economic and customizable light weight robotic solutions to improve operational excellence 24/7. Through its new MES software systems from FORCAM inGermany, A&S is able to combine various pieces of production automation technology and provide an effective management system linking into ERP allowing continuous production productivity monitoring and resulting improvement management. A&S continues to upgrade its technical capabilities by expanding into the field of CNC spindle repair at its newly built centre to open in Dalian in June, 2016.

Building Products (JBP) has grown its customer base by developing new products, channels, and a greater geographical range, ensuring it offers appealing and high quality Green, Sustainable and Smart products to larger communities in the governmental and private sectors. Stepping into building material applications such as bacteria & mould control solutions through Deflecta Antimicrobial and Multi Sealer — JBP has been particularly successful in addressing the safety and quality needs of China’s food manufacturing sector with projects such as Carlsberg Dali Greenfield brewery in Yunan, Heinz-Foodstar production facility in Shanghai and Budweiser brewery in Guangdong.

Cinematic & Broadcasting Solutions (C&BS) is now advancing into new and exciting areas from being a single equipment seller to a value creator through the launch of the JCineCast brand. This new brand uses its industry expertise to customise cross-brand solutions for professional and prosumer filmmakers. With the opening of service centres (JCineCare) in Beijing and Shanghai in 2015, an e-commerce and online community platform for the film and broadcast industry, and adding several new partners/brands including Lowel, Bright Tangerine and Walimex Pro (Walser), the business division has successfully made its mark in the prosumer market segment and has become the only service partner in China that is certified to service lenses from multiple brands.

Addressing the growing demand of an increasingly health conscious society, Specialty Ingredients & Solutions (SI&S) continues to contribute to individual Wellbeing and Healthy lifestyle choices by offering natural and reliable products. It launched its first self-owned F&B brand Weiwanjia in 2015, providing premium nutritional and good-tasting solutions. Less than a year since its launch, Weiwanjia has further extended its product range to include corn juice powder, yoghurt milk powder and bakery premix, making waves in the market and receiving appreciation and strong brand recognition. In 2016, new partner brands such as Oryza, SCM Copper Catalyst, have been added to enrich the portfolio. By engaging with the industry and through distribution via e-commerce channels, SI&S aims to make its nutritional solutions more accessible to a wider community in the near future.

Mr Helmuth Hennig, Group Managing Director, Jebsen Group, said, “Jebsen Industrial’s remarkable results in 2015 are just another testament to the Group’s adaptability and resilience over the past 120 years. Over the generations, we have seen important shifts and have always been able to apply our strengths and capabilities to meet changing needs in the market. Moving forward, we can see that change will only happen more frequently and faster, and we are confident that working closely with our partners, all of us will continue to prosper.”

About Jebsen Group

Founded in 1895, Jebsen Group is a focused marketing and distribution organisation. With a long, unique established presence and deep understanding of Mainland China, Hong Kong, Macau and Taiwan, the Jebsen Group is committed to support our partners’ needs in building market demand, generating and supporting sales, and serving as an important link to customers throughout the region. With a broad spectrum of consumer, beverage, industrial, and motors products, Jebsen offers some 200 of the world’s leading products extensive local market access with a high degree of specialisation. Outside the region, the Jebsen Group enjoys close ties with sister companies inAustralia, South East Asia, Denmark, Germany, Middle East and the United States. For more information, visitwww.jebsen.com and Jebsen Facebook page (facebook.com/jebsengroup), or follow us on Sina Weibo (weibo.com/jebsengroup), WeChat (id:jebsen1895) and LinkedIn (id:jebsen group).

Source: Jebsen Group
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June 27, 2016 at 4:10 pm

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NetDragon Announces 2016 First Quarter Financial Results

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-Solid Growth Momentum in the Games Business;
-Education Business Gaining Further Traction with 33% QoQ Revenue Growth

HONG KONG /PRNewswire/ — NetDragon Websoft Holdings Limited (“NetDragon” or the “Company”; Hong Kong Stock Code: 777), a global leader in building internet communities, today announced its financial results for the first quarter ended March 31, 2016.

NetDragon’s management team will hold a conference call and webcast at 8 p.m. Hong Kong time on June 23 to discuss Q1 results and recent business developments.

2016 First Quarter Financial Highlights

  • Revenue was RMB571.6 million: 14.2% increase quarter-over-quarter; and 132.2% increase year-over-year
  • Revenue from the games business was RMB284.1 million: 0.3% increase quarter-over-quarter; and 26.6% increase year-over-year
  • Revenue from the education business was RMB279.9 million: 33.4% increase quarter-over-quarter; and 2,704.5% increase year-over-year
  • Gross profit was RMB346.4 million: 10.9% increase quarter-over-quarter; 67.2% increase year-over-year
  • Adjusted segmental profit1 from the games business was RMB107.4 million: 5.5% increase quarter-over-quarter; and 153.4% increase year-over-year
  • Adjusted segmental loss1 from the education business was RMB146.5 million: 12.3% increase quarter-over-quarter; and 728.4% increase year-over-year
  • Non-GAAP2 operating loss was RMB111.8 million which includes an operating loss3 of RMB59.5 million from Promethean which is expected as first quarter is a traditional off-season for education business, together with a net exchange loss of RMB20.7 million which is predominantly attributed to currency fluctuation exchange and is unrelated to the core operational performance of the business
  • Going into the second quarter, which is the peak season in the international education markets, the Company expects a significant uptick in both top and bottom line

2016 First Quarter Gaming Operational Metrics

  • Average Concurrent Users (“ACU”) for online games was approximately 332,000, a 4.7% increase quarter-over-quarter and 7.4% increase year-over-year
  • Peak Concurrent Users (“PCU”) for online games was approximately 748,000, a 0.5% decrease quarter-over-quarter and 6.4% increase year-over-year
  • Monthly average revenue per user (“ARPU”) for online games was approximately RMB255, a 5.9% decrease quarter-over-quarter and 25.6% increase year-over-year

Note 1: Adjusted segmental profit/loss figures are derived from the Company’s reported segmental profit/loss figures (presented in accordance with Hong Kong Financial Reporting Standards) but exclude non-core/operating or non-recurring items including government grant, one-time write-back of reserve, fair value of change of financial assets, net gain on derivative financial instrument (related to Series A preferred shares of education subsidiary), and net loss on held-for-trading investments.

Note 2: See “Non-GAAP Financial Measures” section for more details on the reasons for presenting these measures.

Note 3: The above operating loss of RMB 59.5 million of Promethean excludes exchange loss which is grouped in the RMB 20.7million net consolidated exchange loss in the same bullet point above.

Segmental Financial Highlights

FY2016Q1

FY2015Q4

FY2015Q1

(RMB ‘000)

Gaming

Education

Gaming

Education

Gaming

Education

Revenue

284,067

279,942

283,245

209,826

224,330

9,982

Gross Profit

264,857

82,936

264,162

49,474

202,741

2,655

Gross Margin

93.2%

29.6%

93.3%

23.6%

90.4%

26.6%

Adjusted Segmental Profit (Loss)4

107,398

(146,527)

101,757

(130,425)

42,387

(17,687)

Segmental Operating Expenses5

–        Research and development

77,344

87,848

76,331

72,910

74,708

13,158

–        Selling and marketing

33,520

87,837

36,922

57,659

27,153

3,266

–        Administrative

60,464

38,952

56,707

32,807

56,006

7,059

Mr. Dejian Liu, Chairman and Executive Director of NetDragon, commented: “NetDragon recorded encouraging financial results during the quarter and further strengthened our market position in the games and education businesses. We continued to optimize our gaming portfolio with high-quality IP-based games. Calibur of Spirit and Eudemons Online Pocket version continued to be well received among our players and secured continuous growth in user base and monthly gross revenue. In addition, we are pleased with the remarkable 48.3% year-over-year revenue growth of Promethean to RMB279.5 million in the first quarter on a pro-forma basis, demonstrating initial success in our integration efforts and a solid start to our international expansion in the education business.”

“As we strive to be the leader of building Internet communities, we continue to invest heavily in products and technologies, and expand with focus in the education and gaming sectors. We recently completed the acquisition of cherrypicks alpha, which will bring world-class Augmented Reality (AR) technologies into our portfolio. We also announced a significant investment in and setting up of a joint venture with ARHT Media. Through this joint venture which will own the exclusive license to ARHT Media’s industry-leading hologram technologies in China and selected Asian markets, we expect to create great opportunities in the professional training market.”

Note 4: Adjusted segmental profit/loss figures are derived from the Company’s reported segmental profit/loss figures (presented in accordance with Hong Kong Financial Reporting Standards) but exclude non-core/operating or non-recurring items including government grant, one-time write-back of reserve, fair value of change of financial assets, net gain on derivative financial instrument (related to Series A preferred shares of education subsidiary), and net loss on held-for-trading investments.

Note 5: Segmental operating expenses exclude unallocated expenses/income such as depreciation, amortization and exchange gain/loss that have been grouped into SG&A categories on the Company’s reported consolidated financial statements but cannot be allocated to specific business segments for purpose of calculating the segmental profit/loss figures in accordance with the Hong Kong Financial Reporting Standards.

Games Business

The Company continued to see strong growth momentum of the games business in the first quarter, with revenue recorded at RMB284.1 million, an increase of 26.6% year-over-year.

This solid performance was mainly attributable to the outstanding revenue contribution of Calibur of Spirit and the stable growth of Eudemons Online. In addition, various operational indicators continued to improve, with an increase of 6.4% year-over-year of PCU at approximately 748,000, an increase of 7.4% year-over-year of ACU at 332,000, and a 25.6% year-over-year increase of monthly ARPU to RMB255.

A series of promotional events and content updates pushed the operational indicators of Calibur of Spirit to record highs. The game’s monthly gross revenue reached RMB49.3 million in February, while DAU reached 1.7 million in March. Eudemons Online Pocket version launched new expansion packs during the period that drove its monthly gross revenue also to a record high during the quarter, giving a healthy boost to the Company’s revenue.

2016 will be an exciting year for the Company’s games business. The Company will continue to boost the participation of users by launching new versions of successful game titles, build a more diversified games portfolio and explore opportunities in the Virtual Reality (VR) space.

Riding on the success of Calibur of Spirit, the Company will continue to enhance the sporting nature of the game, launch the eagerly-awaited mobile version in the second half of the year, and expand overseas. Calibur of Spirit’s overseas version is currently available in Singapore, Malaysia, and Vietnam, and the Company has entered into licensing agreements in multiple markets including Hong Kong, Macau, Portugal, Spain, and several other countries.

Meanwhile, the Company is on track to release a brand new mobile game of Eudemons Online in the second half of 2016. In addition, the English version of Tiger Knight will also be released on Steam platform during the same period.

Education Business

Revenue from the education business of the Company was RMB279.9 million during the first quarter of 2016, an increase of 2704.5% year-over-year and an increase of 33.4% quarter-over-quarter. On a pro-forma basis, Promethean recorded a 29.2% increase in revenue quarter-over-quarter (accounting for three months from October toDecember 2015) while achieved a significant 48.3% growth year-over-year. ClassFlowTM, the Company’s flagship cloud-based interactive K-12 (Kindergarten-to-Grade 12) software in the international markets, continued its growth in its user base with close to half a million registered users at the end of the first quarter, and the Company expects to grow in multiples from this foundational base during the year.

The first quarter marked a remarkable beginning of 2016 with the Company’s international education business growing at a record pace with market share gains in major markets around the world by Promethean’s education interactive flat panel, ActivPanelTM. Based on the Company’s estimates, ActivPanelTM, which works together with ClassFlowTM to create an unrivalled education and teaching experience, has become the number one product in the K-12 markets in the U.S., France, Italy and several other countries in terms of market share. The success in the market share penetration continues to pave the way for the build-out of the global learning community.

The Company has continued to make strong progress in its product development including expanding its capabilities of 101 Education PPT software, its flagship product in China that provides best-in-class lesson preparation and in-class lesson delivery functionalities combined with seamless access to its education resources library. This resource library features a broad range of high-quality education contents covering all major academic subjects in primary and secondary education in China. The Company is also on track in the development of its VR products including end-user applications such as the flagship VR editor which will come with a wide range of “scenarios” and access to what the Company targets to be the largest 3D resource library for VR learning purpose. In the international markets, the Company has released ClassFlowTM 4.0 which comes with enhanced interface and functionalities. With ClassFlowTM 4.0, teachers can create assignments and assessments for students to complete independently, or collaboratively in small groups, both inside and outside of class. ClassFlowTM 4.0 also gives teachers insight into student learning and progress through polling and rich interactive formative assessments, which enables teachers to adjust any lesson instantly in the moment of learning and to personalize instruction.  ClassFlowTM can be deployed on a range of one-to-one devices (operating on Android, iOS and Windows platforms) to facilitate the flow of data between the teacher and students during a lesson.

Excluding Promethean, revenue from the education business was RMB14.6 million for the period, an increase of 46.3% compared to RMB10.0 million in the same period of last year. The first quarter is traditionally the slow sales quarter of the year for the education industry in China due to the Chinese New Year holidays and constraints ofChina’s funding system, hence delaying schools’ buying decisions. The Company continues to expect 2016 to be a year of significant revenue ramp-up of its education business in China as it begins to commercialize its products more broadly. Furthermore, the Company has received positive feedback from its pilot tests of its 101 Education PPT software. Such feedback includes ease of use, short learning curve, capability to produce high quality lessons, significant time saved in lesson preparation, as well as enhancement of classroom interactivity and students’ engagement.

Leveraging on the peak seasons for the education industry in the second and third quarter, the Company expects its education business to record substantial growth for the upcoming periods, both in China and internationally. The synergistic effect Promethean creates across international channels will also be eased in gradually. The Company will continue to invest heavily in the development of products, technologies and content in order to stay ahead of its competitors in the user experience and capabilities of its products. Meanwhile, the Company is on track in the integration effort of Promethean, including exploring synergies in all areas including products, technologies and market access, as well as enabling a cost structure that will provide the highest return on investment of the Company’s resources.

Non-GAAP Financial Measures

To supplement the consolidated results prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”), the use of certain non-GAAP measures is provided solely to enhance the overall understanding of current financial performance. These non-GAAP measures are not expressly permitted measures under HKFRSs and may not be comparable to similarly titled measures for other companies. The non-GAAP financial measures exclude share-based payments expense, adjustment arising from transfer of associates to a non-wholly owned subsidiary, amortisation of intangible assets arising on acquisition of subsidiaries, interest income on pledged bank deposit, exchange gain (loss) on pledged bank deposit, secured bank borrowing and convertible preferred shares, net gain (loss) on derivative financial instruments, gain on disposal of held-for-trading investment, net (loss) gain on held-for-trading investments, fair value change of remeasurement of previously held equity interest in an associate upon acquisition and finance costs

Management Conference Call

NetDragon will host a management conference call with PowerPoint presentation and webcast to review its first quarter results ended March 31, 2016 on June 23, 2016, at 8 p.m. Hong Kong time. Management attending the conference call includes Simon Leung, Vice Chairman and Executive Director; Ben Yam, Chief Financial Officer.

Details of the live conference call are as follows:

International Toll        

65-6713-5090

US Toll Free   

1-866-519-4004

Hong Kong Toll Free  

800-906-601

China Toll Free (for fixed line users)

800-819-0121

China Toll Free (for mobile users) 

400-620-8038

Passcode       

NetDragon

A live and archived webcast of the conference call will be available on the Investor Relations section of NetDragon’s website at http://www.nd.com.cn/investor/irwebcasts.shtml. Participants in the live webcast should visit the aforementioned website 10 minutes prior to the call, then click on the icon for “1Q 2016 Conference Call” and follow the registration instructions.

About NetDragon Websoft Holdings Limited

NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities. Established in 1999, NetDragon is a vertically integrated, cutting-edge R&D powerhouse with a highly successful track record which includes the development of flagship MMORPGs such as Eudemons Online and Conquer Online, China’snumber one online gaming portal, 17173.com, and China’s most influential smartphone app store platform, 91 Wireless, which was sold to Baidu in 2013 in what was at the time the largest Internet M&A transaction in China. Being China’s pioneer in overseas expansion, NetDragon also directly operates a number of game titles in over 10 languages internationally since 2003. In recent years, NetDragon has emerged as a major player in the global online and mobile education space as it works to leverage its mobile Internet technologies and operational know-how to develop a game-changing education ecosystem. For more information, please visit www.netdragon.com.

For investor enquiries, please contact:

NetDragon Websoft Holdings Limited
Ms. Maggie Zhou
Senior Director of Investor Relations
Tel.: +852 2850 7266/ +86 591 8754 3120
Email: maggie@nd.com.cn; ndir@nd.com.cn
Website: www.nd.com.cn

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE THREE MONTHS ENDED 31 MARCH 2016

Three Months Ended

31/03/2016

31/12/2015

31/03/2015

(Unaudited)

(Unaudited)

(Unaudited)

RMB000

RMB’000

RMB’000

Revenue 

571,637

500,560

246,216

Cost of revenue

(225,192)

(188,159)

(39,023)

Gross profit

346,445

312,401

207,193

Other income and gains

15,611

87,443

26,544

Selling and marketing expenses

(122,214)

(93,982)

(30,826)

Administrative expenses

(191,584)

(161,490)

(106,926)

Development costs

(169,112)

(154,726)

(87,889)

Other expenses and losses

(6,772)

(12,080)

(5,556)

Share of losses of associates

(743)

(1,423)

(3,545)

Operating loss

(128,369)

(23,857)

(1,005)

Interest income on pledged bank deposit

1,171

1,590

Exchange gain(loss) on pledged bank

deposit, secured bank borrowing and

convertible preferred shares

2,192

(5,623)

Gain(loss) on derivative financial instrument

3,661

(16,322)

Gain on disposal of held-for-trading investment

1,401

Net loss (gain) on held-for-trading investments

(3,245)

3,922

(9,741)

Finance costs

(2,737)

(2,940)

(817)

Loss before taxation

(128,498)

(43,649)

(8,572)

Taxation

(6,295)

(80,609)

(4,493)

Loss for the period

(134,793)

(124,258)

(13,065)

Other comprehensive (expense) income for

the period, net of income tax

Gain on revaluation of properties that will not be reclassified subsequently to profit or loss

21,776

Exchange differences arising on translation

of foreign operations that may be

reclassified subsequently to profit or loss

(10,084)

8,541

299

Total comprehensive expense for the period

(144,877)

(93,941)

(12,766)

Loss for the period attributable to:

– Owners of the Company

(113,563)

(98,075)

(10,914)

– Non-controlling interests

(21,230)

(26,183)

(2,151)

(134,793)

(124,258)

(13,065)

Total comprehensive expense attributable to:

– Owners of the Company

(122,340)

(68,635)

(10,615)

– Non-controlling interests

(22,537)

(25,306)

(2,151)

(144,877)

(93,941)

(12,766)

RMB cents

RMB cents

RMB cents

Loss per share

– Basic

(22.98)

(19.74)

(2.21)

– Diluted

(22.98)

(19.74)

(2.21)

 

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2016

31 March 2016

31 December 2015

(Unaudited)

(Audited)

RMB’000

RMB’000

Non-current assets

Property, plant and equipment

1,298,664

1,246,117

Prepaid lease payments

439,119

438,677

Investment properties

52,828

55,377

Intangible assets

897,667

953,950

Interests in associates

16,902

18,883

Available-for-sale investments

5,000

5,000

Loan receivables

23,036

23,081

Trade receivables

18,749

18,112

Deposits made for acquisition of property,
plant and equipment

21,212

18,302

Deposit made for available-for-sale investment

24,004

Goodwill

340,951

334,839

Deferred tax assets

3,675

3,611

3,141,807

3,115,949

Current assets

Inventories

121,621

117,584

Prepaid lease payments

6,789

2,733

Loan receivables

3,707

3,397

Trade receivables

271,664

234,733

Amounts due from customers for contract work

3,324

4,339

Other receivables, prepayments and deposits

124,364

115,918

Amount due from a related company

1,704

1,704

Amounts due from associates

11,532

11,204

Tax recoverable

10,849

11,159

Held-for-trading investment

167,395

170,640

Bank deposits

342,145

583,091

Bank balances and cash

917,980

1,126,957

1,983,074

2,383,459

Assets classified as held for sale

2,690

1,983,074

2,386,149

Current liabilities

Trade and other payables

400,729

507,592

Amounts due to customers for contract work

1,346

993

Provisions

26,504

29,373

Deferred income

78,284

85,039

Amount due to a related company

2,720

2,254

Amounts due to associates

10,078

9,632

Convertible preferred shares

273,395

278,499

Secured bank borrowing

70,307

25,142

Income tax payable

27,990

95,194

891,353

1,033,718

Net current assets

1,091,721

1,352,431

Total assets less current liabilities

4,233,528

4,468,380

Non-current liabilities

Other payables

12,723

12,723

Provisions

1,918

2,027

Deferred tax liabilities

140,217

149,993

154,858

164,743

Net assets

4,078,670

4,303,637

Capital and reserves

Share capital

36,378

36,726

Share premium and reserves

4,055,391

4,257,120

Equity attributable to owners of the Company

4,091,769

4,293,846

Non-controlling interests

(13,099)

9,791

4,078,670

4,303,637

Source: NetDragon Websoft Holdings Limited

Related stocks: HongKong:0777 OTC-PINK:NDWTY

Written by asiafreshnews

June 27, 2016 at 4:07 pm

Posted in Uncategorized

Borgward Honored Once Again: Plus X Award for the Borgward BX7 TS

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BONN and STUTTGART, Germany/PRNewswire/ —

Borgward is gaining increasing recognition in the automotive world. The young company with a long tradition won a Red Dot Award for design at the beginning of the year, and the automaker’s Borgward BX7 series has now made a big impression with the judges for the Plus X Award: The athletic-dynamic SUV took home the world’s biggest innovation award for technology, sportiness, and lifestyle in the categories of Design, High Quality, Ergonomics, and Functionality. The BX7 was also issued a seal of quality as SUV of the Year 2016/2017. “The Borgward BX7 has demonstrated once again that we’re on the right track with our product strategy,” said Tom Anliker, Vice President Marketing, Sales & Service at Borgward Group AG, during the awards ceremony in Bonn today. “The Plus X Award is a very prestigious one for us because it honors both the outstanding design quality and the top-class functional performance displayed by our premiere model.”

(Photo: http://photos.prnewswire.com/prnh/20160623/382892 )

The Plus X Award for innovation was presented for the 13th time in 2016. The award honors manufacturers of products that are exceptionally innovative and forward-looking in terms of technology, sportiness, and lifestyle aspects. The products that receive the award must display a specific “Plus X Factor” for added value as defined by a panel of independent trade journalists and high-ranking representatives from 26 economic sectors.

Borgward BX7 TS: Top model in the SUV series  

The Borgward BX7 that won the Plus X Award is a 4.70-meter long vehicle that was developed for the globally popular large/mid-sized SUV segment. The model makes a big impression with its extremely advanced communication and entertainment systems and an interior that’s unparalleled in this vehicle class. All of this is supplemented by Borgward’s typical outstanding design quality, which is based on the brand’s guiding principle of Modern Tradition. Outstanding safety is guaranteed by the intelligent and comprehensive PROTECT concept, which features groundbreaking dynamic handling and driver assistance systems that operate in an anticipatory manner and can help prevent collisions. If worst comes to worst, however, a very strong passenger compartment with precisely defined deformation zones, as well as passive restraint systems, provide reliable protection and can significantly mitigate the consequences of an accident.

The Borgward BX7 top-of-the-line model with the additional TS designation continues the brand’s successful tradition that was established in the 1950s, when the same designation was used for exceptionally sporty models. Unlike the standard models from the series, which are already fully equipped, the TS features diamond-like chrome rhombus shapes and a chrome Borgward rhombus with refining red inlays mounted on the brand’s typical OCTAGON grille. Additional typical TS features include specially designed alloy wheels, bumpers, door sill trim, and cladding in the vehicle color, as well as decorative trim made of brushed aluminum. The red TS logo in chrome adorns the front fenders, the rear hatch, and the brake calipers on the six-piston front disc brakes.

The outstandingly spacious and sporty TS interior combines classical elements with innovative state-of-the-art components to create a harmonious atmosphere. Here, high-quality, velvety-soft premium nappa leather with the classical Borgward contrast stitching in hand-made quality is perfectly supplemented by innovative components such as a 12.3-inch central media touchscreen display. The sport program also includes a flat-bottom sports steering wheel and sports pedals. The interior also features the same brushed aluminum that serves as the distinguishing material for the exterior trim in the TS equipment line. This brushed aluminum refines the dashboard, the handles on the center console, and the air conditioning vents, as well as other components. Other refining elements with a velvety sheen include the aforementioned sports steering wheel and pedals, as well as the gearshift and rocker panels with illuminated TS lettering.

Successful launch in East Asia; market launch in Europe in 2017

Following the successful market launch in China last month, and after the planned launch in India and other emerging markets later this year, Borgward will introduce the BX models to European markets in 2017. In Europe, the German automaker will initially launch the vehicle in Germany, Austria, and Switzerland as plug-in hybrid models and all-electric vehicles.

Further information

BORGWARD Group AG
Kriegsbergstrasse 11
70174 Stuttgart, Germany

Axel Lengert
Interim Product Communication Manager

Telephone +49-711-365-10-1045
E-mail: ex-a.lengert@borgward.com

http://www.borgward.com

Source: BORGWARD Group AG

Written by asiafreshnews

June 27, 2016 at 3:58 pm

Posted in Uncategorized

Mexico’s route to financial inclusion begins with commitment to reduce the use of cash

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-One of the largest economies in Latin America keeps growth momentum going by joining the United Nations’ Better Than Cash Alliance to foster a financially inclusive economy

MEXICO CITY and NEW YORK /PRNewswire/ — The Mexican Government is building on its successful economic growth and new financial inclusion policy by pledging to increase the ability of citizens, businesses and the government to make and receive digital payments. By joining the United Nations-based Better Than Cash Alliance, Mexico will propel inclusive growth, empower women and grow the country’s GDP.

Logo – http://photos.prnewswire.com/prnh/20120919/CG77018LOGO

The announcement comes shortly after Mexico’s Government unveiled its National Policy on Financial Inclusion that included a call for the country to use technological innovation for financial inclusion and reduce the use of cash.

The existing use of digital payments already brought around $8 billion boost to Mexico’s GDP between 2011 and 2015, according to a recent Moody’s Analytics report. This indicates there is big potential for greater growth. Research conducted by The Better Than Cash Alliance also found that by digitizing its own payments from cash, the Mexican Government saves an estimated US$1.3 billion per year.

Mexico’s announcement to step up efforts to move away from cash comes during a period of slower growth in theLatin America region overall. While Mexico’s economy is an exception and continues to grow, only 44 percent of adults over the age of 18 have a bank account in Mexico, according to the Government’s recent survey on financial inclusion (ENIF, 2015). However, there are 120 million people in the country, and more than 107 million people have a mobile phone, making mobile digital payments a potentially important tool in increasing financial inclusion.

There is a tremendous opportunity for financial inclusion in front of us that we must seize to build on the momentum of the new National Policy on Financial Inclusion,” said Luis Videgaray Caso, Mexico’s Minister of Finance and Public Credit. Integrating digital payment technology across all agencies of Government is key to this, and the other benefits of efficiency and cost savings, are too valuable to ignore. This new commitment to The Better Than Cash Alliance, which helps implement both our National Policy on Financial Inclusion and our National Digital Strategy, will improve lives for all of our people and contribute to inclusive economic growth.”

In 2013, the Mexican Government launched the National Digital Strategy “México Digital,” which included the goal of creating a digital economy. Since then, measures taken by the Government to shift away from cash provide a strong foundation from which to expand. The number of digital payment transactions through the Government’s Treasury Single Account increased from 69 million in 2013 to 116 million in 2015. Today’s membership announcement is a strong step in continuing to build a robust digital economy where everybody can easily make and receive electronic payments.

When Mexico held the G20 Presidency in 2012, the Government put the issue of financial inclusion at the heart of the global agenda” said Dr. Ruth Goodwin-Groen, Managing Director of The Better Than Cash Alliance. “The country has long been recognized for its innovation in driving financial inclusion. Now, Mexico has made another bold move in implementing the new Financial Inclusion Policy to transform how people make payments, empowering millions of its people to participate in a digitally financially inclusive economy and creating many other benefits for the country.”

About Better Than Cash Alliance

The Better Than Cash Alliance is a partnership of governments, companies, and international organizations that accelerate the transition from cash to digital payments in order to reduce poverty and drive inclusive growth. The United Nations Capital Development Fund serves as the secretariat. To learn more, visit www.betterthancash.org, follow @BetterThan_Cash and subscribe for news.

Source: Better Than Cash Alliance

Written by asiafreshnews

June 27, 2016 at 3:49 pm

Posted in Uncategorized

Introducing FOLIO – A new collaboration bringing libraries, service providers and developers together to speed innovation and redefine the future of library automation

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-A community-based open source environment, backed by vendor financial commitment, is designed to provoke a conversation about library innovation and technology

BOSTON /PRNewswire/ — Libraries and service providers have come together to reshape the future of libraries and develop new technologies. The new initiative, FOLIO, provides a platform for libraries, service providers, and other organizations to team up to redefine library automation via open source projects. The goal is to cultivate interest groups, form partnerships and spark conversations that will lead to the creation of new services and technologies for libraries.

Logo – http://photos.prnewswire.com/prnh/20160624/383133LOGO

FOLIO, which stands for the Future of Libraries is Open, is a new community coming together to develop a reimagined library services platform (LSP), one that supports traditional resource management requirements and functionality, yet is engineered for innovation and growth through industry collaboration. At its core, FOLIO will allow for extensibility into new services for libraries and will dramatically change the technology ecosystem available to libraries, service providers and technology developers.

The initial code for the base platform, which offers features for integrating modular services, is planned for release on GitHub in August 2016. This will be a technical preview of the underlying platform for developers to familiarize themselves with the APIs and provide early feedback. Following the August release of the FOLIO platform, code for applications will be released early and often, allowing librarians and developers to see, use and consider the code throughout the months to follow. The FOLIO community will build out the functional apps needed to operate a library, while innovating resource management and shared networked description for release in early 2018. Extended library management functionality will follow thereafter. The community will encourage developers to use the FOLIO platform to build new, integrated and transformative approaches to new service opportunities for serving library patrons.

EBSCO is providing the primary funding for the development of FOLIO with Index Data developing the initial platform and engaging deeply with the library developer community. EBSCO’s President and CEO Tim Collins says EBSCO is excited to be a partner in the FOLIO collaboration. “This project gives libraries and vendors impetus to come together for a purpose that can have a truly huge impact on libraries now and for years to come. This is not an EBSCO project. We believe we can provide the stability and support necessary for the project to achieve sustainability. But, the ultimate impact of FOLIO will be determined by the scope of community participation. The very positive response by the community to date has been great to see. The opportunity for significant impact exists.”

The Open Library Environment (OLE) Partnership is a collaborative of academic and research libraries that seek to build and operate innovative and open source software for library management services. Member libraries areCornell University Library, Duke University Library, GBV-Common Library Network, Hbz-Hochschulbibliothekszentrum des Landes Nordrhein-Westfalen, Lehigh University, North Carolina State UniversityLibraries, SOAS-University of London, Texas A&M Libraries, University of Chicago Library and University of Maryland University Libraries. Michael Winkler, Managing Director for OLE, says that FOLIO continues and builds on the OLE vision of community approaches to building new library services. He says the key to FOLIO’s success and impact is the collaboration. “With FOLIO, we have cause to bring people and libraries together around a single vision. We are excited to marshal our talented, dedicated individuals and our shared resources to develop and contribute to truly sophisticated services emerging in the FOLIO platform and software. Together, in this unique and open collaboration of librarians, technologists, service providers, and vendors, we are in a position to change the course of library technology in an extremely positive way.”

Dean of University Libraries at Texas A&M University David Carlson, an OLE Board member, says FOLIO represents an extraordinary development in library systems development and has the power to change not only the system marketplace but to spark a transformation in the relationships between libraries and their vendors. “FOLIO represents a true partnership between libraries and vendors in which we are each making real substantive contributions based on our unique strengths.” Carlson says FOLIO’s focus on openness is what makes it so extraordinary. “With FOLIO, the future is open: open to new relationships, open to true collaboration and open to capacities that will enable libraries to achieve our mission of service to users. For the first time, libraries will be not only customers but investors with vendor partners in defining the future of library systems.”

The collaboration is open, and even in its early stages, other libraries and service providers are joining the community and the conversation to spark innovation including libraries such as Massachusetts Institute of Technology (MIT), Charles University in Prague, National Széchényi Library (National Library of Hungary) and CALIS (China Academic Library and Information System) as well as organizations such as BibLibre, BiblioLabs, ByWater, Relais International and SirsiDynix.

Founder & Chief Business Officer of BiblioLabs Mitchell Davis says, “FOLIO offers a path to building a library user experience equal to that of other elegant technology platforms we use in our everyday life. Without this happening quickly the relevance of libraries as digital content distributors is uncertain. The leadership of a company like EBSCO and the involvement of a proven technology leader like Index Data create a solid base from which to grow an amazing future for libraries and their patrons. Innovative software companies like BiblioLabs will thrive in an environment where the best products can win in the market, so of course we are in full support of this project and are happy to be part of it.”

The open source code produced by the FOLIO community will be made available under an Apache v2 license, allowing any individual, institution, collaboration or vendor to use the code for its purposes —commercial or otherwise. According to Sebastian Hammer, team lead for the FOLIO core developers and co-founder of Index Data, everybody owns the code. “The more permissible the software license, the more libraries and vendors will engage. The more vendors who wish to create apps (open source or for-fee) and work to ensure that their existing applications work well with FOLIO, the greater the options are for libraries, and the more opportunity for those vendors.”

EBSCO and other vendors plan to support libraries by providing hosting services that ensure libraries of all sizes can take advantage of the community’s projects. Libraries and consortia will also be able to integrate FOLIO software into their strategic infrastructures to diversify or extend their services. Community members might also leverage the Apache license to develop functionality or integrations that support their current needs, or build new service models for their campuses—a true source of community innovation using the FOLIO platform.

SirsiDynix CEO Bill Davison says SirsiDynix is looking at additional ways to support the library industry, including the option of hosting FOLIO-created solutions for libraries that want a hosted environment. “SirsiDynix understands how to host and support libraries. We’ve been providing hosting services and 24/7 support to a global community of large, midsized and smaller libraries for over 30 years and we can make an open source approach possible with world-class hosting and support. The BLUEcloud Library Services Platform has been designed with openness in mind. When we compared our best-of-breed philosophy with the vision of FOLIO, we found that we were perfectly aligned to bring flexibility and choices to libraries.” Davison says, as one of the premier hosted-solutions provider, SirsiDynix is interested in bringing its expertise to the FOLIO project. He says the next logical step is to partner with the FOLIO community and evaluate how it can best assist with the hosting and support components.

How to Join the Community

Since initial public conversations began about the open source LSP project at conferences such as Code4Lib in March, more than 1,000 members from dozens of countries have joined the community. Community members may participate in a variety of ways:

  • Functionalist—contribute their knowledge of specific workflows and functional areas.
  • Strategist—contribute their vision of how library technology must evolve in the years to come.
  • Developer—contribute code and help build out the applications for the new extensible platform.

By engaging, members will participate in, and even lead meetings and workshops at conferences, virtual meetings, online forums and discussion boards. Blog and email communications will also help community members follow the project. Interested participants can sign up at www.folio.org and follow FOLIO on Twitter @FOLIO_LSP.

About FOLIO™

FOLIO is a collaborative effort between libraries, vendors, developers and consortia that leverages open source technology and a community-based effort to redefine library services and innovate based on library futures. By building on what libraries need and by leveraging library expertise as well as vendor capacity and velocity, FOLIO is designed to move libraries forward, build on the services they provide and redefine the role libraries play within their institution. FOLIO also levels the playing field and makes open source technology available to all institutions regardless of size or staffing. FOLIO brings vendors together to innovate and host services for customers and introduces open source as a service to libraries. To sign up to participate or receive more information go towww.folio.org.

For more information, please contact:
Kathleen McEvoy, Media Relations, FOLIO
kathleen@folio.org
+1-978 223-0438

Source: FOLIO
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Written by asiafreshnews

June 27, 2016 at 3:43 pm

Posted in Uncategorized