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Category: Asia

  • MIL-OSI Economics: Australia PET imaging agents market to grow at 2% CAGR through 2033, forecasts GlobalData

    Source: GlobalData

    Australia PET imaging agents market to grow at 2% CAGR through 2033, forecasts GlobalData

    Posted in Medical Devices

    Prostate cancer is one of the most diagnosed cancers in Australia, making effective diagnostic tools and agents crucial for better patient outcomes. Positron emission tomography (PET) imaging agents, especially those targeting prostate-specific membrane antigen (PSMA), offer a powerful way to detect and monitor prostate cancer at a molecular level. Against this background, the Australian PET imaging agents market is expected to grow at a 2% CAGR through 2033, forecasts GlobalData, a leading data and analytics company.

    GlobalData’s Nuclear Imaging Agents Market Size by Segments, Share, Regulatory, Reimbursement and Forecast to 2033 report reveals that Australia accounts for around 15% of the Asia-Pacific nuclear imaging agents market in 2024.

    The Australian Therapeutic Goods Administration (TGA) has recently approved the use of Illuccix to diagnose prostate cancer and help identify a course of treatment, such as PSMA-targeted radionuclide therapy.

    Aditi Dakshesh Parikh, Medical Devices Analyst at GlobalData, comments: “The addition of this new indication is expected to bring a transformation in prostate cancer management as Illuccix remains the only PSMA-PET agent approved in Australia and listed on the Medicare Benefits Schedule, to date. By providing insights into cellular activity, PET imaging agents can detect disease recurrence and the effectiveness of the ongoing therapies can also be easily assessed.”

    The PET imaging agents’ market is witnessing a steady growth as these agents are poised to become integral not only in prostate cancer treatment but across a wider range of cancers.

    Parikh concludes: “PET imaging agents are becoming the essential components in modern medical diagnostics, setting new standards in clinical practice as a result of technological advancements in hybrid imaging systems such as PET/CT and PET/MRI, enhancing diagnostic accuracy and treatment outcomes.”

    MIL OSI Economics –

  • MIL-OSI Economics: India’s sustainable eating habits offer glimmer of hope to mitigate climate change, says GlobalData

    Source: GlobalData

    India’s sustainable eating habits offer glimmer of hope to mitigate climate change, says GlobalData

    Posted in Consumer

    Sustainable eating encompasses of practices such as minimizing food waste, prioritizing plant-based diets, and consuming locally sourced foods. India is known for its extensive history of vegetarian diets. As the world grapples with the urgent need to address climate change, India’s sustainable eating habits offer a glimmer of hope to address the heightened ecological concerns, according to GlobalData, a leading data and analytics company.

    India’s traditional, climate friendly dietary habits have been spotlighted as a global blueprint for sustainable living in a recent Living Planet Report by the World Wide Fund for Nature (WWF). It identified India’s food consumption pattern as the most climate friendly among G20 nations. The report further stated that if all countries across the globe would adopt the current food consumption pattern of India, the world would need 0.84% of an Earth to support food production by 2050+.

    Shravani Mali, Consumer Analyst at GlobalData, comments: “In recent years, India observed an intensified vegan movement, especially in metropolitan cities. The country’s current food consumption practices, emphasizing plant-based diets and climate-resilient crops such as millets, require fewer resources and generate lower emissions compared to meat-heavy diets. This transition is also connected to a wider focus on sustainability. Underlining this trend, 79% of Indian respondents in GlobalData’s recent consumer survey stated that the sustainable/environmentally friendly feature is essential/nice to have when deciding to make a food and drinks purchase*.”

    Mali adds: “Traditional Indian diets primarily consist of lentils, grains, and vegetables. For instance, “Thali” is a meal that includes a combination of various food groups and shows a strong connection to the country’s land and history. These traditional diets, which place an emphasis on seasonal and local produce, are becoming more popular as environmental issues gain more attention. Consequently, with increasing awareness, consumers will look forward to curtailing environmental burdens by adopting traditional dietary practices that prioritize plant-based foods.”

    Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and Middle East at GlobalData, notes: “The Indian government has introduced several initiatives to promote environmentally sustainable practices in the country. For instance, the government launched schemes such as National Millet Campaign and the International Year of Millets (2023) to enhance the production and consumption of millets since it is an environmentally sustainable source of food and nutrition. In addition to this, the National Mission for Sustainable Agriculture (NMSA) aims to improve climate-resilient farming.

    “Furthermore, the socioeconomic advantages of sustainable food production are exemplified by the Andhra Pradesh Community-Managed Natural Farming (APCNF) program in southern India. Hence, these initiatives have positively contributed to India’s food practices as a model of sustainability.”

    Mali concludes: “By adopting climate-friendly diet, individuals can make a tangible impact on the environment. Adopting Indian sustainable eating habits worldwide offers a clear path to address critical environmental and health challenges. With the food system being one of major contributors to global greenhouse gas emissions, shifting towards plant-based diets, as exemplified by Indian cuisine, could reduce emissions significantly, creating a more sustainable future for generations to come.”

    *GlobalData 2024 Q3 Consumer Survey – India, with 500 respondents, published October 2024

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Agencies Continue To Monitor For Oil Sightings

    Source: Asia Pacific Region 2 – Singapore

    JOINT NEWS RELEASE BETWEEN NEA, BCA, JTC, MPA, NPARKS, PUB, SDC, SFA AND SLA

    Singapore, 22 October 2024 – The clean-up of oil in the channel between Pulau Bukom and Bukom Kechil is progressing. The clearing of the remaining trapped oil within the containment booms in the channel and the cleaning of the stained rock bunds and infrastructure are targeted to be completed in the coming days.

    2       There are no other oil sightings at sea and ashore as at 3pm (Singapore time).

    3       National water agency PUB continues to monitor the seawater intakes at its desalination plants. Seawater quality readings remain normal.

    4       There are no reports of fish farms being affected by the oil leak.

    5      Agencies will continue to monitor for oil sightings.

    ~~ End ~~

    For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ21: Crackdown on pedestrians crossing roads without complying with traffic rules

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Chan Pui-leung and a written reply by the Secretary for Transport and Logistics, Mr Lam Sai-hung, in the Legislative Council today (October 23):Question:      Regarding the crackdown on pedestrians crossing roads without complying with traffic rules, will the Government inform this Council:(1) whether it has compiled statistics on the number of pedestrian casualties in traffic accidents in the past five years, with a breakdown by cause of accident;(2) whether it has compiled statistics on the number of traffic contraventions involving pedestrians in the past five years and, among such cases, the respective numbers of verbal warnings given and prosecutions instituted (including summonses) by the Police (set out by relevant contravention);(3) whether it has analysed the reasons for pedestrians not complying with the traffic rules for crossing roads, for example, whether such acts were caused by objective factors such as road design, traffic system, etc; if it has, of the details; if not, the reasons for that;(4) of (i) the 10 traffic black spots in Hong Kong with the highest number of traffic accidents involving pedestrian casualties and the number of accidents involved, and (ii) the 10 traffic black spots in Hong Kong with the highest number of traffic contraventions involving pedestrians and the respective numbers of jaywalking cases in the past five years; in respect of such traffic black spots, of the improvement measures put in place by the authorities, including whether they will consider extending the duration of green signal of pedestrian traffic lights or adding footbridges; if so, of the details; if not, the reasons for that;(5) given that the Police conducted a number of large-scale territory-wide law enforcement operations against jaywalking in the past, whether the authorities have assessed the effectiveness of such operations; whether they will consider increasing the amount of penalties for pedestrians who do not comply with traffic rules for crossing roads; if so, of the details; if not, the reasons for that; and(6) how the authorities will further step up efforts in publicity and education on road safety, so as to enhance pedestrians’ awareness on road safety?Reply:President,     Having consulted the Transport Department (TD) and the Hong Kong Police Force (Police) in respect of crackdown on pedestrians crossing roads without complying with traffic rules, my reply to the various parts of the question raised by the Hon Chan Pui-leung is as follows:(1) and (2) The numbers of pedestrian casualties by casualty contributory factors and degree of injury in traffic accidents as well as the enforcement figures on pedestrian offences by the Police in the past five years are provided in Annex 1 and Annex 2 respectively. On the whole, from 2020 to 2023, the yearly casualty number ranged between about 2 300 and 2 800. The pedestrian casualty number involved in traffic accidents happened in the first half of 2024 has decreased by about 10 per cent compared to the same period in 2023. This reflects that the recent enhanced safety improvement measures are effective. The Government will continue to implement relevant road safety enhancement measures. The ratio of pedestrian contributory factors to accidents has decreased from about 30 per cent in 2020 to 22 per cent in the first nine months in 2024.(3) and (4) The Government has been striving to provide a safe, reliable and efficient traffic and transport system, including the provision of appropriate pedestrian crossing facilities during the planning and design of pedestrian network, for pedestrian to cross the road conveniently at suitable locations. The Government also proceeds with various walkability enhancement and pedestrian safety improvement measures at suitable locations, which include footpath widening, provision or improvement of pedestrian crossings, provision of raised crossings, provision of additional traffic signs and road markings, setting up of low speed limit zones, replacement of Belisha beacons at zebra crossings as well as installation of auxiliary devices that project a red light at signalised junctions. These measures improve pedestrians’ walking experience on one hand and enhance road safety on the other.     According to the quarterly blacksite locations published by the TD, the top 10 pedestrian blacksites and the numbers of accidents happened thereat in the past five years are provided in Annex 3. Relevant departments do not have statistics of the reason(s) of pedestrian offences. Having said that, the Police make reference to the information on accident blackspots when prioritising enforcement actions and publicity/education activities at district levels.(5) Road safety is one of the Commissioner’s Operational Priorities of the Police. Apart from conducting territory-wide enforcement actions against pedestrian offences periodically, the Police will closely monitor the issue of pedestrian safety and continue to adopt multi-pronged approach through publicity, education and enforcement to strengthen public awareness on pedestrian safety, thereby reducing traffic accidents.      From the second half of 2023 to September 2024, the Police have co-ordinated a total of three territory-wide thematic operations on pedestrian safety. With the concerted efforts of the Police and stakeholders, the number of accidents involving pedestrians as a whole in the first three quarters of 2024 has dropped, which is detailed as follows:      The Government will keep in view the penalties for traffic offences and will propose amendments timely so that the relevant penalties can maintain their deterrence to safeguard pedestrian safety.(6) The Government attaches great importance to road safety and has been closely collaborating with the Road Safety Council to promote road safety amongst different road users (including pedestrians) through various publicity and education channels. Examples include production and broadcasting of television and online publicity video clips, publication and distribution of Road Safety Bulletins and leaflets, affixing publicity covers on traffic signal controllers, conducting road safety talks in primary and secondary schools and elderly centres, disseminating information on social media platforms, to educate different road users about road safety matters that require their attention, such as obeying traffic rules and traffic signals, proper use of crossing facilities, following the Road Crossing Code and staying alert at all times. We will continue to carry out publicity and education activities to enhance road users’ awareness on safety.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ22: Public swimming pools

    Source: Hong Kong Government special administrative region

         â€‹â€‹Following is a question by the Hon Doreen Kong and a written reply by the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, in the Legislative Council today (October 23):
     
    Question:

         Regarding public swimming pools under the Leisure and Cultural Services Department, will the Government inform this Council:

    (1) of the utilisation rates (set out by session for admission) and attendances of various public swimming pools in each of the past five years;

    (2) of the number of schools holding swimming galas at public swimming pools in the past five years;

    (3) of the expenditure on the staff salaries and benefits, operating costs and maintenance fees of public swimming pools in the past five years;

    (4) in respect of the public swimming pools with utilisation rates on the low side, whether the authorities will consider consolidating them with those public swimming pools in the neighbouring districts to increase the overall utilisation rates, thereby better meeting the demand of members of the public;

    (5) as there are views pointing out that the mode of leisure and entertainment of members of the public is constantly changing, whether the authorities have plans to upgrade facilities of public swimming pools and include more diversified entertainment elements (such as water parks and water play facilities), so as to attract members of the public of different age groups to use them; and

    (6) as some persons with disabilities (PWDs) have relayed that barrier-‍free facilities at some public swimming pools are inadequate, of the current situation of the provision of barrier-free facilities at public swimming pools; whether it will consider further increasing and upgrading the barrier-free facilities at public swimming pools by, for example, providing additional ramps, lanes for exclusive use by PWDs and so on, at the swimming pools to improve the inclusiveness of public swimming pools, thereby benefiting a wider group of members of the public?

    Reply:
     
    President,

         My reply to the questions raised by the Hon Doreen Kong is as follows:

    (1) As the Leisure and Cultural Services Department (LCSD) does not maintain record of individual swimmer’s time of entry and exit at its public swimming pools, there is no information about the utilisation rate of its swimming pools at different periods of time. Details of the attendance of public swimming pools managed by the LCSD are set out at Annex I.

    (2) In the past five years, the number of schools that have hosted swimming galas in public swimming pools managed by the LCSD is as follows:
     

    Year
    2019
    2020
    2021
    2022
    2023

    Number
    234
    31
    30
    101
    231

    * In view of the situation of COVID-19, public swimming pools were closed during various periods from 2020 to 2022. Hence, the number of swimming galas held was lower.

    (3) In the past five years, the expenditure on staff remuneration and fringe benefits as well as the operating cost of public swimming pools are as follows:
     

    Year
    2019-20
    2020-21
    2021-22
    2022-23
    2023-24

                              ($ million)

    Expenditure on staff remuneration and fringe benefits
    660.06
    660.06
    660.06
    686.17
    720.30

    Operating cost
    520.34
    513.36
    532.91
    563.55
    596.61

         â€‹As for repair and maintenance, multiple works departments are responsible for the maintenance and repair of various recreation and sports facilities under the LCSD. Costs of works such as repair, maintenance, improvement and refurbishment of facilities, as well as expenses on equipment procurement, are included in the overall expenditure of those works departments. The LCSD does not have a breakdown of the repair and maintenance costs of public swimming pools.

    (4) and (5) In order to cater for the public demand for different swimming pool facilities, the number and type of facilities as well as design and layout of public swimming pools vary. At present, 25 of the public swimming pools under the LCSD (such as Kennedy Town Swimming Pool, Hammer Hill Road Swimming Pool and Tseung Kwan O Swimming Pool etc) offer water play equipment in addition to conventional swimming facilities, addressing the needs of different age groups and allowing more citizens to experience the fun of aquatic activities.
     
         The selection of location, types of facilities offered as well as design and layout of each swimming pool must meet the needs of the public (especially the local residents) for swimming facilities. The LCSD will optimise the use of resources according to the actual situation, closely monitor the utilisation of public swimming pools and take into account different factors, including the impact on local residents, future demographic changes and the views of relevant district councils, when reviewing the future planning of its facilities.

    (6) At present, among the 46 public swimming pools under the LCSD, 36 (about 78 per cent) are equipped with accessible lifting platforms or ramps to assist persons with disabilities in entering the pools. A list of these swimming pools is at Annex II. As for the remaining public swimming pools where accessible lifting platforms or ramps have yet to be installed, there are other pools equipped with relevant facilities within the same district. Persons with disabilities may consider visiting another pool in the same district for the swimming facilities thereat according to their needs.
     
         All leisure venues of the LCSD built after 2008 (including public swimming pools) are in compliance with the requirements of the “Design Manual: Barrier Free Access 2008”, including the provision of ramps or accessible lifting platforms as far as possible to assist persons with disabilities in entering the pools. As for the leisure venues built before 2008 (including public swimming pools), subject to geographical environment, allocation of resources, architectural conditions and technical feasibility, the LCSD will arrange for relevant improvement works to be carried out, such as providing facilities for barrier-free access, accessible toilets and parking spaces, as well as adding facilities such as tactile guide paths, Braille signage, Braille and tactile maps, for the convenience of the visually impaired, in the course of renovation or conversion so that persons with disabilities can also enjoy swimming pool facilities provided by the LCSD.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SED expresses deep sorrow over passing of Mr Michael Suen

    Source: Hong Kong Government special administrative region

         The Secretary for Education, Dr Choi Yuk-lin, today (October 23) expressed deep sorrow over the passing of former Secretary for Education, Mr Michael Suen, and extended her heartfelt condolences to his family.

         Mr Suen was appointed as the Secretary for Education in 2007, a post he held until June 2012.

         Dr Choi said, “Mr Suen provided dedicated services to Hong Kong people and the Government for decades, making tremendous contributions and earning respect from various sectors of the community. During his tenure as the Secretary for Education, he formulated and implemented a number of important education policies, including promotion of the development of higher education institutions and broadening of multiple study pathways, implementation of the New Academic Structure for Senior Secondary Education and Higher Education (namely the ‘334’ academic structure), the fine-tuning of medium of instruction for secondary schools and implementation of small class teaching in primary schools, benefiting students and making far-reaching impacts.

          “Mr Suen spared no effort and was dedicated in everything. He often communicated with frontline education personnel in person and resolved problems with wisdom. He was a role model for colleagues.

          “The Education Bureau is deeply saddened by his passing. We will fondly remember him.”

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ20: Activities in celebration of the National Day and exhibitions relating to patriotic education

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Chan Yung and a written reply by the Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai, in the Legislative Council today (October 23):
     
    Question:
     
         Regarding the activities in celebration of the 75th anniversary of the founding of the People’s Republic of China and the exhibitions relating to patriotic education organised by the HKSAR Government this year, will the Government inform this Council:
     
    (1) of the following information on the aforesaid celebratory activities: (i) the names of the activities, (ii) the organising government departments, (iii) the dates on which the activities were held (with commencement and end dates) and (iv) the numbers of participants, and set out the breakdown in the table below; and

    (i)
    (ii)
    (iii)
    (iv)

     
     
     
     

           
    (2) whether it has assessed the overall effectiveness of the various exhibitions relating to patriotic education (including the national security exhibition and the “Glorious Voyage: Splendid Achievements of the People’s Republic of China in Its 75 Years” exhibition series at the Hong Kong Museum of History, as well as the exhibitions at the Hong Kong Museum of the War of Resistance and Coastal Defence) in terms of the attendances, the level of satisfaction, etc; whether it will continuously step up promotion of such exhibitions through more innovative means, so as to attract more members of the public and tourists to visit them?
     
    Reply:
     
    President,
     
         Having consulted the relevant bureaux and departments, the consolidated reply to the question raised by the Hon Chan Yung is as follows:
     
         This year marks the 75th anniversary of the founding of the People’s Republic of China. To celebrate this important day with members of the public, the HKSAR Government has spared no effort in planning and launching a wide array of rich, diverse and creative celebratory activities before and after the National Day featuring the spirit of patriotism, so as to share the joy of the National Day with the public, while at the same time promote patriotism.
     
         Regarding part (1) of the question, the HKSAR Government and various sectors of the community has organised more than 400 celebratory activities before and after the National Day. Details of the events are available on the dedicated website (www.nationalday75.gov.hk). As at October 16, 2024, 38 amongst the 71 highlight celebratory events organised by various policy bureaux and departments had been completed. Please refer to the Annex for details.
     
         Regarding part (2) of the question, the HKSAR Government has organised a number of exhibitions with elements of patriotism, for example, the thematic exhibition “Brothers in Arms: War of Resistance Activities of the East River Column in Shenzhen and Hong Kong” exhibited at the Hong Kong Museum of the War of Resistance and Coastal Defence since September 4, 2024, and the “Glorious Voyage: Splendid Achievements of the People’s Republic of China in Its 75 Years’ Exhibition Series” at the Hong Kong Museum of History and Hong Kong Science Museum since September 27, 2024, etc. Moreover, the covered walkway of Sun Yat Sen Memorial Park is currently hosting the “Trendsetting Travel in China” display to showcase national achievements, whereas the thematic book exhibition “The Glorious and Momentous Days – Celebrating the 75th Anniversary of the Founding of the People’s Republic of China” is being held at various public libraries and the Hong Kong Museum of History. These exhibitions cover various themes across different areas, presenting a comprehensive display of the country’s development. Overall speaking, the exhibitions are effective and the response of the public is overwhelming. As at October 15, the exhibitions organised by the Leisure and Cultural Services Department (LCSD) have recorded over 300 000 visitors. The LCSD will continue to promote the exhibitions through various channels including online media, and organise related education and extension programmes to attract more locals and visitors.
     
         In addition, the National Security Exhibition Gallery, located at the Hong Kong Museum of History, is the first dedicated exhibition in Hong Kong to systematically introduce national security. It has been opened to the public for visits with free admission since August 7 this year and has already welcomed 100 000 visitors in just two months. This shows that the community attaches great importance to and is supportive for national security education. Visitors have given very positive feedback about the exhibition hall, and consider the exhibition contents rich, diverse, and educational. In order to attract more locals and visitors, the National Security Exhibition Gallery will roll out thematic exhibitions in mid-2025 for the 10th National Security Education Day and the 5th anniversary of the promulgation of the Hong Kong National Security Law.
     
         The HKSAR Government is truly grateful for the staunch support received from various sectors of the community and the general public, without such, these many celebratory events would not have completed so successfully. This fully reflects the passion and love from all Hong Kong citizens for our country. The HKSAR Government will continue to press ahead with perseverance and determination, bring together the community forces, and take on the responsibility to lead Hong Kong to a brighter future.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ2: Developing cruise tourism

    Source: Hong Kong Government special administrative region

    LCQ2: Developing cruise tourism
    LCQ2: Developing cruise tourism
    *******************************

         Following is a question by the Hon Chan Yuet-ming and a reply by the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, in the Legislative Council today (October 23): Question:      It has been reported that the number of cruise ships arriving in Hong Kong this year is far lower than that in Singapore, and a related association has also withdrawn from Hong Kong. On the other hand, the Government mentioned in the Policy Address delivered last year that it would review the development of cruise tourism economy and announce an action plan in the first half of 2024. In this connection, will the Government inform this Council: (1) of the number of ship calls in Hong Kong in each of the past five years, as well as the numbers of inbound and outbound cruise passenger trips, and the age distribution and per capita spending of passengers; (2) whether further plans in the short, medium and long terms are in place to attract cruise ships to visit Hong Kong and consider Hong Kong as homeport; and (3) of the positioning of and division of functions between the Kai Tak Cruise Terminal (KTCT) and the Ocean Terminal, and how the occupancy rates of the commercial floor space of the two terminals compare with each other; as there are views that when compared with the Ocean Terminal, there is much room for improvement in respect of transport connectivity between the KTCT and the shopping malls nearby as well as the luxury goods and commercial contents of such shopping malls, how the Government will enhance the transport connectivity between the KTCT and the surrounding scenic spots and key shopping malls in the short term? Reply: President,      After the pandemic, the Government has been making all-out efforts in promoting the recovery of the tourism industry, amongst which Hong Kong’s cruise tourism is actually one of the work priorities. With the concerted efforts of the industry and the Government, a total of 30 cruise lines are scheduled to visit Hong Kong in 2024, representing an increase of 12 over 2023 and comparable to pre-pandemic levels. It is estimated that the non-local cruise passenger throughput this year will increase to about 330 000, representing an increase of 50 per cent compared with 220 000 the year before. Moreover, attributable to the efforts we have made, several new cruise lines will have their first ship calls in Hong Kong in the coming year, and new itineraries will also be launched by cruise lines to attract a more diverse sources of customers.           We sought views extensively from relevant local and international stakeholders of the cruise industry earlier on the development of cruise tourism in Hong Kong, and formulated an action plan for further promoting cruise visits to Hong Kong. It will be published together with the Development Blueprint for Hong Kong’s Tourism Industry 2.0 by the end of this year.           Having consulted the Development Bureau and the Transport and Logistics Bureau, below is the reply to the question raised by the Hon Chan Yuet-ming: (1) The total numbers of ship calls and cruise passenger throughputs in Hong Kong in the past five years are at Annex. Separately, according to a survey conducted by the Hong Kong Tourism Board (HKTB) in 2023, the onshore per capita spending of inbound cruise passengers embarking or disembarking in Hong Kong was about $3,000. Nevertheless, the contribution of cruise tourism to Hong Kong’s economy is not restricted to the spending by passengers, but also includes the expenses incurred in Hong Kong by the cruises (such as the expenses of arranging shore excursions or transport for passengers, reprovisioning for the cruises, berthing at terminals and hiring of ground crew members), as well as the onshore spending of crew members on leave.  We do not maintain statistics on the age distribution of cruise passengers. (2) The Tourism Commission (TC) and HKTB will continue to promote the development of Hong Kong’s cruise tourism through various measures, attracting cruises to visit Hong Kong, and leveraging Hong Kong as the homeport for passengers to start or complete their cruise voyages. Those measures include: (a) developing new cruise itineraries and visitor source markets. For instance, introducing cruise itineraries departing from the Mainland, Japan, Korea, Malaysia, the Philippines, Taiwan and Thailand to Hong Kong in the coming months; and stepping up the promotion and publicity of fly-cruise and rail-cruise packages; (b) facilitating cruise lines in making proper planning for cruises visiting Hong Kong, and providing them with various support and concessions, with a view to encouraging cruise lines to increase the number of ship calls, make overnight calls and leverage Hong Kong as the homeport; (c) supporting the tourism trade in fully leveraging Hong Kong’s unique tourism elements to design different featured shore excursions. Cruise passengers visiting Hong Kong this week will be arranged to join the Hong Kong Wine & Dine Festival, thereby creating synergy between cruise tourism and mega events. In addition, a night time itinerary of Hong Kong classic tram tour has recently been selected by a cruise line as one of its top 10 shore excursions in the world; (d) providing facilitation for inbound passengers who start their cruise voyage in Hong Kong, such as baggage delivery services for debarking cruise passengers to enable them to explore the city hassle-free. TC also co-ordinates ship calls with a large number of Mainland visitors, streamlining the boundary crossing arrangements, and arranging coaches for them to travel direct to the Kai Tak Cruise Terminal (KTCT) in just 40 minutes; (e) seizing the new opportunities brought about by cruise-related policies in the Mainland, such as the policy of allowing visa-free entry of foreign tourist groups aboard cruise ships at provinces along the country’s coastline, and the measures allowing Mainland visitors to travel to Hong Kong in transit to join international cruise itineraries involving port-of-call in Mainland cruise ports, thereby attracting international cruise lines to develop more cruise itineraries covering Hong Kong and Mainland ports; and (f) proactively participating in major industry events in the Mainland and overseas, and collaborating with ports in the Mainland and the Asian region to jointly promote Asia’s cruise tourism in these events. (3) Though complementing each other, the development and functions of the KTCT and the Ocean Terminal (OT) in Tsim Sha Tsui are not entirely the same and a direct comparison cannot be made between them. The OT was completed in 1966. Due to limitations in respect of water depth and clearance facilities etc, it can only accommodate small to medium-sized cruise ships with a gross tonnage of fewer than 90 000 tons and a smaller passenger capacity. Its floor area is primarily used for commercial purposes. As Tsim Sha Tsui has developed into one of Hong Kong’s premier shopping and sightseeing hot spots, passengers joining cruise voyages there can also be benefited. As for the KTCT, it is an infrastructure specifically built for the berthing of mega-size cruise ships and is able to accommodate simultaneously two mega-size cruise ships with a gross tonnage of up to 220 000. The terminal provides sufficient space and facilities for handling a large number of inbound and outbound passengers as well as their embarkation and disembarkation within a short period of time, but only has a small ancillary commercial area. The KTCT commenced operation in phases from mid-2013, and since 2015 and 2017 respectively, it has already surpassed the OT in terms of annual passenger throughput and the number of ship calls.      Upon getting onshore, cruise passengers may either join shore excursions with connecting transport arrangements provided by cruise lines or local travel agents, or travel to destinations by public transport. The KTCT is being part of the Kai Tak Development (KTD). With the gradual completion of the traffic network and commercial facilities within the KTD, cruise passengers will be provided with greater convenience and more options for shopping and sightseeing. Those options include the major retail facility adjacent to Kai Tak MTR Station opened in September last year and another commercial project comprising a large department store scheduled for opening in November this year. In addition, the Kai Tak Sports Park, to be opened in the first quarter of next year, will not only provide over 700 thousand square feet of retail and catering facilities, but also venues for hosting various types of mega sports, cultural and recreational events, thereby creating synergy effects with the KTCT.           There are currently four regular franchised bus routes serving the KTCT, with three of them connecting Kai Tak Station. Subject to demand, an additional special bus route directly connecting the station will also be provided by public transport operator during the berthing of cruise ships. The Transport Department has also planned to provide two additional franchised bus routes, one of them providing connecting services to Kai Tak Station via Sung Wong Toi Station, while another providing express services to Hung Hom and Tsim Sha Tsui direct.      Thank you, President.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 12:55

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Planisware – Q3 2024 revenue

    Source: GlobeNewswire (MIL-OSI)

    Q3 2024 revenue of € 47.0 million

    • Year-on-year revenue growth in constant currencies of +18.7% in Q3 and +19.3% for the 9 first months of the year
    • Record high commercial pipeline but longer customer decision-making process driving delayed signature and start of new contracts
    • More cautious view on revenue growth in Q4
    • Improving profitability thanks to continuous progress in operational efficiency and better activity mix
    • Revision of 2024 objectives announced in September 2023:
      • 2024 revenue growth in constant currencies between +17% and +18%
        (vs. c. 19.5%)
      • Adjusted EBITDA margin raised to approximately 34% (vs. c. 33%)
      • Cash Conversion Rate of c. 80% confirmed

    Paris, October 23, 2024 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, announces today its revenue for the third quarter of 2024. Revenue amounted to € 47.0 million, up by +18.2% in current currencies, mainly led by the continued success of the Group’s market-leading SaaS platform. In constant currencies, revenue growth reached +18.7% (€+7.4 million) in Q3 and +19.3% (€+21.6 million) for the first nine months of the year. Recurring revenue amounted to €41.4 million in Q3 (88% of revenue) and was up by +21.2% in constant currencies.

    Loïc Sautour, CEO of Planisware, commented: “During the third quarter of 2024, Planisware delivered a solid +18.7% revenue growth in constant currencies, led by the continued success of our SaaS operations. This was a bit lower than expected due to elongated customers’ decision-making process since the end of the summer on the back of political concerns in France and difficulties seen in some of our key verticals such as automotive.

    Taking into account some uncertainties in the closing timing of delayed signatures and the start of some contracts, we adopt a cautious view for the end of the year. As a results, we now target annual revenue growth between +17% and +18% in constant currencies.

    In parallel, we continue to benefit from the evolution of our activity mix and to deliver further operational efficiencies on employee-related costs enabling to raise our 2024 profitability objective to c. 34% while confirming our cash conversion rate objective of c. 80%.

    Beyond the current quarter, we continue to build on our record high commercial pipeline fuelled by increasing demands for strategic portfolio management tools that help companies to better align their resources with strategic business goals. This dynamic is paving the way towards our ambition to be the accelerator of the Project Economy and the number one provider of multi-specialty project and portfolio management software solutions.”

    Q3 2024 revenue by revenue stream

    In € million Q3 2024 Q3 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 41.4 34.3 +20.7% +21.2%
    SaaS & Hosting 20.8 17.1 +21.9% +22.3%
    Evolutive support 13.0 10.4 +24.6% +25.2%
    Subscription support 2.8 2.2 +29.4% +30.3%
    Maintenance 4.8 4.6 +3.8% +4.1%
    Non-recurring revenue 5.6 5.1 +8.3% +8.7%
    Perpetual license 2.0 1.3 +57.3% +58.0%
    Implementation & others non-recurring 3.5 3.8 -8.1% -7.9%
    Revenue with customers 47.0 39.4 +19.1% +19.6%
    Other revenue – 0.3    
    Total revenue 47.0 39.7 +18.2% +18.7%

    * Revenue evolution in constant currencies, i.e. at Q3 2023 average exchange rates

    Reaching €47.0 million in Q3 2024, revenue was up by +18.2% in current currencies and +18.7% in constant currencies. The exchange rates effect was mostly related to the appreciation of the euro versus the US dollar and the Japanese yen compared to Q3 2023. In order to reflect the underlying performance of the Company independently from exchange rates fluctuations, the following analysis refers to revenue evolution in constant currencies, applying Q3 2023 average exchange rates to Q3 2024 revenue figures, unless expressly stated otherwise.

    Recurring revenue

    Representing 88% of Q3 2024 revenue versus 86% in Q3 2023, recurring revenue reached €41.4 million, up by +21.2%.

    Revenue growth was fully led by Planisware’s SaaS model (i.e. SaaS & Hosting and Evolutive & Subscription support) up +23.9%, with SaaS & Hosting revenue up by +22.3% thanks to contracts secured with new customers as well as continued expansion within the installed base. Revenue of support activities (Evolutive & Subscription support), intrinsically related to Planisware’s SaaS offering, grew by +26.1%.

    Maintenance revenue was up by +4.1% in the context of the Group’s shift from its prior license model to a SaaS model.

    Non-recurring revenue

    Non-recurring revenue was up by +8.7%, helped by perpetual licenses extensions and upgrades sold in Q3 2024 to established customers with specific on-premise needs.

    The continued effort to deliver shorter implementations and to bring value faster to customers continued to drive down the planned revenue decline in Implementation. At -7.9% in Q3, revenue decline was accented by delays in the start of projects.

    Confirmed leadership of Planisware

    Planisware’s broad recognition from third-party industry analysts was further confirmed by the latest 2024 Gartner® “Magic QuadrantTMfor Adaptive Project Management and Reporting report.” published on September 5, 2024 and in which Gartner reasserted Planisware as a Leader, emphasizing “robust integrations, dynamic reporting, and native collaboration functionality” and a roadmap that “includes investments to bolster objective and key result (OKR) capabilities, automate work effort tracking, and deliver additional AI-driven features”.

    2024 objectives

    During its process to prepare its IPO, Planisware communicated to investors its 2024 objectives as early as September 2023.

    Planisware communicates today a revised set of 2024 objectives to take into account the uncertainties in the closing timing of delayed signatures and the start of some contracts. The Group adopts a more cautious view for year-end revenue growth. In parallel, continuous progress in operational efficiency and improving activity mix enable Planisware to raise its profitability objective, while confirming its objective for cash generation. As a consequence, Planisware’s 2024 objectives are:

    • Revenue growth in constant currencies between +17% and +18% (c. 19.5% priorly)
    • Adjusted EBITDA margin of approximately 34% (approximately 33% priorly)
    • Cash Conversion Rate of c.80% confirmed

    Appendices

    YTD 2024 revenue by revenue stream

    In € million 9M 2024 9M 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 118.0 96.4 +22.5% +22.9%
    SaaS & Hosting 59.6 46.6 +27.8% +28.0%
    Evolutive support 35.9 29.8 +20.4% +21.1%
    Subscription support 8.4 6.3 +34.8% +35.0%
    Maintenance 14.1 13.6 +3.4% +3.5%
    Non-recurring revenue 15.5 15.3 +1.9% +2.0%
    Perpetual license 6.1 3.6 +70.1% +70.4%
    Implementation & others non-recurring 9.4 11.7 -19.2% -19.1%
    Revenue with customers 133.6 111.6 +19.7% +20.0%
    Other revenue – 0.7    
    Total revenue 133.6 112.3 +18.9% +19.3%

    * Revenue evolution in constant currencies, i.e. at 9M 2023 average exchange rates

    Q3 2024 revenue Investors & Analysts conference call

    Planisware’s management team will host an international conference call on October 23, 2024 at 8:00am CET to details Q3 2023 performance and key achievements, by means of a presentation followed by a Q&A session. The webcast and its subsequent replay will be available on planisware.com.

    Upcoming event

    • February 27, 2025:        FY 2024 results publication

    Contact

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products.

    With more than 700 employees across 14 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”). For more information, visit: https://planisware.com/

    Connect with Planisware on: LinkedIn and X (formerly Twitter).

    Disclaimer

    Forward-looking statements

    This document contains statements regarding the prospects and growth strategies of Planisware. These statements are sometimes identified by the use of the future or conditional tense, or by the use of forward-looking terms such as “considers”, “envisages”, “believes”, “aims”, “expects”, “intends”, “should”, “anticipates”, “estimates”, “thinks”, “wishes” and “might”, or, if applicable, the negative form of such terms and similar expressions or similar terminology. Such information is not historical in nature and should not be interpreted as a guarantee of future performance. Such information is based on data, assumptions, and estimates that Planisware considers reasonable. Such information is subject to change or modification based on uncertainties in the economic, financial, competitive or regulatory environments.

    This information includes statements relating to Planisware’s intentions, estimates and targets with respect to its markets, strategies, growth, results of operations, financial situation and liquidity. Planisware’s forward-looking statements speak only as of the date of this document. Absent any applicable legal or regulatory requirements, Planisware expressly disclaims any obligation to release any updates to any forward-looking statements contained in this document to reflect any change in its expectations or any change in events, conditions or circumstances, on which any forward-looking statement contained in this document is based. Planisware operates in a competitive and rapidly evolving environment; it is therefore unable to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the occurrence of a risk or combination of risks could have significantly different results from those set out in any forward-looking statements, it being noted that such forward-looking statements do not constitute a guarantee of actual results.

    Rounded figures

    Certain numerical figures and data presented in this document (including financial data presented in millions or thousands and certain percentages) have been subject to rounding adjustments and, as a result, the corresponding totals in this document may vary slightly from the actual arithmetic totals of such information.

    Variation in constant currencies

    Variation in constant currencies represent figures based on constant exchange rates using as a base those used in the prior year. As a result, such figures may vary slightly from actual results based on current exchange rates.

    Non-IFRS measures

    This document includes certain unaudited measures and ratios of the Group’s financial or non-financial performance (the “non-IFRS measures”), such as “recurring revenue”, “non-recurring revenue”, “gross margin”, “Adjusted EBITDA”, “Adjusted EBITDA margin”, “Adjusted Free Cash Flow”, “cash conversion rate”, “churn rate” and “Net Retention Rate” (or “NRR”). Non-IFRS financial information may exclude certain items contained in the nearest IFRS financial measure or include certain non-IFRS components. Readers should not consider items which are not recognized measurements under IFRS as alternatives to the applicable measurements under IFRS. These measures have limitations as analytical tools and readers should not treat them as substitutes for IFRS measures. In particular, readers should not consider such measurements of the Group’s financial performance or liquidity as an alternative to profit for the period, operating income or other performance measures derived in accordance with IFRS or as an alternative to cash flow from (used in) operating activities as a measurement of the Group’s liquidity. Other companies with activities similar to or different from those of the Group could calculate non-IFRS measures differently from the calculations adopted by the Group.

    Non-IFRS measures included in this document are defined as follows:

    • Adjusted EBITDA is calculated as Current operating profit including share of profit of equity-accounted investees, plus amortization and depreciation as well as impairment of intangible assets and property, plant and equipment, plus either non-recurring items or non-operating items.
    • Adjusted EBITDA margin is the ratio of Adjusted EBITDA to total revenue.
    • Adjusted FCF (Free Cash Flow) is calculated as cash flows from operating activities, plus IPO costs paid, if any, less other financial income and expenses classified as operating activities in the cash-flow statement, and less net cash relating to capital expenditures.
    • Cash Conversion Rate is defined as Adjusted FCF divided by Adjusted EBITDA. Planisware considers Cash Conversion Rate to be a meaningful financial measure to assess and compare the Group’s capital intensity and efficiency.
    • Net cash position is defined as Cash minus indebtedness excluding lease liabilities.

    Attachment

    The MIL Network –

  • MIL-OSI: WithSecure Interim report 1 January – 30 September 2024: Elements software continues growth, profitability maintained despite challenges in services

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Interim report 1 January – 30 September 2024, 23 October 2024 at 8.00 EEST

    WithSecure Interim report 1 January – 30 September 2024: Elements software continues growth, profitability maintained despite challenges in services

    Highlights of July – September 2024 (“third quarter”)

    • Annual Recurring Revenue (ARR)1 for Elements Cloud products and services2 increased by 11% to EUR 81.8 million (EUR 73.8 million)
    • Elements Cloud ARR decrease from previous quarter was 1%
    • Net Revenue Retention for Elements Cloud was 104%
    • Revenue for Elements Cloud increased by 9% to EUR 20.7 million (EUR 19.0 million)
    • ARR for Cloud Protection for Salesforce increased by 38% to EUR 10.2 million (EUR 7.4 million)
    • CPSF Revenue increased by 20% to EUR 2.4 million (EUR 2.0 million)
    • Cyber security consulting revenue declined by 1% to EUR 7.5 million (EUR 7.7 million)
    • Adjusted EBITDA for WithSecure was EUR 1.9 million (EUR -2.3 million)
    • Items affecting comparability (IAC) of EBITDA were EUR -0.4 million (EUR -0.2 million).
    • Consulting-related goodwill was impaired by EUR 15.5 million in the third quarter
    1. Annual recurring revenue (ARR) of cloud products is calculated by multiplying monthly recurring revenue of last month of quarter by twelve.  Monthly recurring revenue includes recognized revenue within the month excluding non-recurring revenue
    2. Elements Cloud includes Elements Cloud portfolio software and services as well as the managed services

    Highlights of January – September 2024

    • Revenue for Elements Cloud products and services increased by 10% to EUR 61.8 million (EUR 56.4 million)
    • CPSF revenue increased by 5% to EUR 6.6 million (EUR 6.3 million)
    • Cyber security consulting revenue increased by 2% to EUR 23.6 million (EUR 23.2 million)
    • Adjusted EBITDA for WithSecure was EUR 0.7 million (EUR -16.3 million)
    • Items affecting comparability (IAC) of EBITDA were EUR -0.9 million (EUR -3.4 million).

    Outlook for 2024

    Outlook for 2024 (updated on 11 October 2024)
    Annual recurring revenue (ARR) for Elements Cloud products and services will grow by 6–14 % from the end of 2023. At the end of 2023, Elements Cloud ARR was EUR 78.4 million.

    Revenue from Elements Cloud products and services will grow by 8–12 % from previous year. Previous year revenue from Elements Cloud was EUR 76.1 million.

    Total revenue of the group will grow by 2– 5 % from previous year. Previous year revenue of the group was EUR 142.8 million.

    Adjusted EBITDA of full year 2024 will be positive.

    Outlook for 2024 (previous)
    Annual recurring revenue (ARR) for Elements Cloud products and services will grow by 10–20 % from the end of 2023. At the end of 2023, Elements Cloud ARR was EUR 78.4 million.

    Revenue from Elements Cloud products and services will grow by 10–16 % from previous year. Previous year revenue from Elements Cloud was EUR 76.1 million.

    Total revenue of the group will grow by 6–12 % from previous year. Previous year revenue of the group was EUR 142.8 million.

    Adjusted EBITDA of full year 2024 will be positive.

    Figures in this report are unaudited. Figures in brackets refer to the corresponding period in the previous year, unless otherwise stated. Percentages and figures presented may include rounding differences and might therefore not add up precisely to the totals presented.

    CEO Antti Koskela

    In the third quarter of 2024, WithSecure ARR for Elements Cloud products and services grew by 11 % to EUR 81.8 million (EUR 73.8 million). Elements Cloud revenue grew by 9 % to EUR 20.7 million (EUR 19.0 million). Despite the slightly disappointing revenue growth, profitability of both Elements Company segment and WithSecure Group was positive at the Adjusted EBITDA level. Cloud Protection for Salesforce business returned to the growth track, with ARR growth of 38 %.

    In the Elements Company, Elements software continued to perform with good year-on-year growth. In the DACH (Germany, Austria, Switzerland) region, the revenue growth slowed down slightly, mostly due to the weakness of the German economy. In other European regions and Japan, the revenue and ARR growth continued. In Managed services, some large customers churned during third quarter. This development was affected by our increasing focus on selling managed services to mid-market customers through the Elements platform. However, despite the increase in the number of customers, revenue did not fully compensate for the churned accounts. Of the geographic regions, mostly the UK and the US have been impacted by the Managed services development.

    Exposure Management, introduced in SPHERE’24 reached General Availability during the third quarter. The customer demand for the newest module of Elements has remained high. Also, our AI assistant Luminen became available for all Elements customers in the third quarter.

    Elements Company Adjusted EBITDA was EUR 2.0 million (EUR -0.5 million), as a result of the cost savings of 2023 and continuous efficiency measures.

    In Cloud Protection for Salesforce (CPSF), focused efforts on improving sales efficiency resulted in breaking through the 10 million ARR threshold. ARR grew by 38 % to EUR 10.2 million (EUR 7.4 million). Revenue grew by 20 % to EUR 2.4 million (EUR 2.0 million). We continue to develop CPSF as an independent business in WithSecure. Profitability of the CPSF is moving towards break-even with the improving revenue.

    Cyber security consulting revenue was slightly below previous year’s level and was EUR 7.5 million (EUR 7.7 million). In some key accounts, we saw financial constraints in the third quarter. In the long term, we continue to see solid demand for cyber security consulting service. As announced on 31 October 2023, the Cyber security consulting business is under strategic review. We are in active discussions regarding divestment of the business, but no decision has been taken so far.

    Due to the gaps between actual and expected revenue, we lowered the financial outlook for 2024. For the changes in consulting revenue estimates and increased equity market risk, we recorded an impairment of the consulting-related goodwill of EUR 15.5 million in the third quarter.

    At the end of September, WithSecure’s headquarters moved to the new premises in Wood City, Helsinki. This is part of our plan of creating dynamic and collaborative workplaces, to welcome our employees and visitors and to foster well-being and creativity.

    Financial performance

    (mEUR) 7-9/2024 7-9/2023 Change % 1-9/2024 1-9/2023 Change % 1-12/2023
    Revenue 36.1 34.8 4% 109.2 104.8 4% 142.8
    Gross Margin 26.2 24.2 9% 78.4 72.6 8% 100.2
    % of revenue 72.6 % 69.5 %   71.8 % 69.3 %   70.2 %
    Other operating income1 0.7 0.2 227% 1.6 1.0 53% 1.4
    Operating expenses1 -25.0 -26.6 6% -79.2 -90.0 12% -117.7
    Sales & Marketing -13.7 -15.2 10% -42.9 -52.4 18% -68.1
    Research & Development -8.4 -8.2 3% -26.5 -27.6 4% -36.3
    Administration -3.0 -3.3 10% -9.8 -10.0 2% -13.3
    Adjusted EBITDA2 1.9 -2.3 182% 0.7 -16.3 -104% -16.1
    % of revenue 5.2 % -6.5 %   0.7 % -15.6 %   -11.3 %
    Items affecting comparability (IAC)              
    Other items -0.6 -0.1 -468% -1.6 -0.4 -301% -1.4
    Restructuring -0.4 -0.1 -303% -0.4 -4.4 90% -8.9
    Divestments 0.6     1.2 1.4 -15% 1.4
    EBITDA 1.5 -2.5 -160% -0.1 -19.7 99% -25.1
    % of revenue 4.1 % -7.1 %   -0.1 % -18.8 %   -17.6 %
    Depreciation & amortization, excluding PPA3 -2.6 -2.5 -5% -7.4 -7.6 2% -10.2
    Impairment -15.5 -6.2 -150% -15.5 -6.2 -150% -6.2
    PPA amortization -0.5 -0.6 15% -1.7 -1.8 4% -2.4
    EBIT -17.2 -11.8 46% -24.8 -35.3 30% -43.9
    % of revenue -47.5 % -33.8 %   -22.7 % -33.7 %   -30.7 %
    Adjusted EBIT2 -0.8 -4.8 84% -6.7 -23.9 72% -26.3
    % of revenue -2.1 % -13.7 %   -6.1 % -22.8 %   -18.4 %
    1. Excluding Items Affecting Comparability (IAC) and depreciation and amortization. In 2023 excludes also costs of services provided to F-Secure under TSA and equivalent income charged for TSA services. 
    2. Adjustments are material items outside the normal course of business associated with acquisitions, integration, restructuring, gains or losses from sales of businesses and other items affecting comparability. For reconciliation and a breakdown of adjusted costs, see Note 6 (Reconciliation of alternative performance measures)
    3. Amortization of intangible assets from business combinations (PPA, purchase price allocation, related amortizations). 
    (mEUR) 7-9/2024 7-9/2023 Change % 1-9/2024 1-9/2023 Change % 1-12/2023
    Earnings per share, (EUR)1 -0.10 -0.06 -69% -0.13 -0.16 18% -0.23
    Deferred revenue       65.7 65.7 0% 66.9
    Cash flow from operations before financial items and taxes -0.6 -9.0 94% -5.7 -22.5 75% -19.9
    Cash and cash equivalents       21.6 30.0 -28% 36.6
    ROI, % -60.8 % -33.3 % -82% -27.1 % -30.9 % 12% -30.5 %
    Equity ratio, %       66.6 % 79.1 % -16% 73.3 %
    Gearing, %       4.0 % -18.3 % -122% -22.2 %
    Personnel, end of period       983 1,147 -14% 1,087
    1. Based on the weighted average number of outstanding shares during the period 175,976,169 (1-9/2024). Earnings per share has been recalculated for comparative periods using average weighted share amount after share issues.

    Events after period-end
    No material changes regarding the company’s business or financial position have taken place after the end of the quarter.

    Additional information
    This is a summary of WithSecure’s interim report 1 January – 30 September 2024. The full report is a PDF file attached to this stock exchange release. Full report is also available on the company website.

    Webcast
    WithSecure’s CEO Antti Koskela and CFO Tom Jansson will present the results in a webcast on 23 October starting at 14.00 EEST. The webcast will be held in English and can be accessed at

    https://withsecure.videosync.fi/q3-2024

    Questions in written format are requested in the webcast portal. Presentation material and the webcast recording will be available on the company website

    Materials | Investor Relations | WithSecure™

    Financial calendar
    WithSecure will publish its financial information dates of 2025 later in the fourth quarter of 2024. WithSecure observes at least a three-week (21 days) silent period prior to publication of financial reports, during which it refrains from engaging in discussions with capital market representatives or the media regarding WithSecure’s financial position or the factors affecting it.

    Contact information

    Tom Jansson, CFO
    WithSecure Corporation

    Laura Viita, VP, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    Attachment

    The MIL Network –

  • MIL-OSI Asia-Pac: LC: Speech by CS in presenting Government Minute in response to Report No. 82 of Public Accounts Committee

    Source: Hong Kong Government special administrative region

         Following is the speech (translated from Chinese) by the Chief Secretary for Administration, Mr Chan Kwok-ki, in presenting the Government Minute in response to Report No. 82 of the Public Accounts Committee in the Legislative Council today (October 23):

    President, 

         Laid on the table today is the Government Minute (GM) responding to Report No. 82 of the Public Accounts Committee (PAC) presented to the Legislative Council (LegCo) on July 17, 2024.

         I welcome the Report of the PAC and am grateful for the time and efforts devoted by the Chairman of the PAC, Mr Shiu Ka-fai, and members of the PAC. The Government accepts all the PAC’s various recommendations and sets out in detail in the GM the specific responses of the relevant bureau and departments (B/Ds). The PAC conducted public hearings on the chapters on “Emergency dental services and elderly dental care support” and “Provision and monitoring of Rehabus services”. I would like to highlight the key follow-up measures taken and progress made by the Government and relevant organisations in response to the recommendations.

         Regarding improvements to the services of the General Public (GP) Sessions, the Department of Health (DH) has adjusted the preliminary registration time at nine dental clinics to prevent elderly persons from waiting until midnight. Among these, the time of disc distribution and formal registration at the Mona Fong Dental Clinic have also been adjusted so that patients can receive service after formal registration as soon as possible. The DH will roll out an online electronic disc distribution and registration system before the end of this year. By then, members of the public will no longer need to queue in person for obtaining discs, and will receive real-time information on the remaining disc quotas, i.e. they will know the number of disc quotas remaining on a real-time basis, so as to ensure that all quotas can be fully utilised. The system will give registration priority to elderly persons aged 65 or above. In addition, the Government will enhance emergency dental services targeting the underprivileged groups with financial difficulties in collaboration with non-governmental organisations (NGOs) under a new service model in 2025. The target is to provide additional service capacity which will be at least two times the current capacity of GP sessions. To ensure limited resources can be deployed to those in need (in particular the underprivileged groups), the Government will examine the cost-effectiveness and service arrangement of the GP sessions, and consider the need of introducing means tests or other eligibility criteria for emergency dental services, or other proposals such as replacement by provision of services to underprivileged groups in need by NGOs. This is to ensure the effective use of public healthcare resources.

         Regarding dental services in public hospitals, the DH has convened joint service meetings with the Hospital Authority (HA) and maintained relevant information as recommended in the Report. The HA also regularly monitors the achievement of targets on the waiting time for new case appointments at its Oral Maxillofacial Surgery and Dental Clinics, and assess patients’ conditions in a timely manner so as to arrange their first appointments as soon as possible. Furthermore, the DH and the HA have initiated discussions on the merging of hospital dental services and will take into account the observations and recommendations in the Audit Report.

         To alleviate the manpower shortage, the DH is conducting the year-round recruitment of local full-time and part-time dentists, provides incremental credits based on the applicants’ work experience, and relaxes the Chinese language proficiency entry requirements for the positions. The latest batch of 10 part-time contract dentists took office sequentially from July to September 2024, and 42 full-time dentists took office in September 2024. In addition, following the passage of the Dentists Registration (Amendment) Bill 2024 by the LegCo on July 10, 2024, the DH has been working with the Dental Council of Hong Kong to admit the first batch of non-locally trained dentists to Hong Kong through the new mechanism in the first quarter of 2025 so as to serve the public.

         As for elderly dental care support, the DH has further ascertained the reasons for non-participation in the Outreach Dental Care Programme for the Elderly (ODCP) of residential care homes for the elderly (RCHEs), day care centres for the elderly, and NGOs. The DH has also established a new mechanism with the Social Welfare Department to follow up with non-participating RCHEs and strengthen promotional work in encouraging the RCHEs to join the ODCP. Moreover, the DH has taken measures to ensure the participating NGOs’ fulfilment of their responsibilities according to the funding and service agreement terms. Except for during the COVID-19 epidemic when there were restrictions on visits to the RCHEs, the overall target number of service in 2023-24 were met.

         The DH has encouraged more private dentists to enrol in the Elderly Health Care Voucher Scheme (EHVS) through various means, such as introducing the EHVS at meetings or events organised by the Hong Kong Dental Association. The DH will continue to send reminder notifications and messages through the eHealth System (Subsidies) to healthcare service providers enrolled in the Scheme regularly, reminding them to update their enrolment particulars. Upon receiving notifications of change of particulars from healthcare service providers, the DH will process them and update the information on the website of the EHVS as soon as practicable. In addition to making use of private dental services in Hong Kong, eligible elderly persons may make use of the Elderly Health Care Vouchers (EHCVs) to pay for outpatient dental services at the University of Hong Kong-Shenzhen Hospital (HKU-SZH) and its Huawei Li Zhi Yuan Community Health Service Center (Huawei CHC) since 2015 and 2023 respectively. Moreover, the Government launched the Elderly Health Care Voucher Greater Bay Area Pilot Scheme (Pilot Scheme) in 2024. From June to September this year, the Pilot Scheme has been implemented in seven integrated services medical institutions or dental healthcare institutions that provide dental services in Guangzhou, Nansha, Zhongshan, Dongguan and Shenzhen, and eligible Hong Kong elderly persons may choose from more service points. Together with the two service points at the HKU-SZH and the Huawei CHC, elderly persons may pay for outpatient dental service fees with the EHCVs at a total of nine services points of the medical institutions in Mainland cities within the Greater Bay Area.

         Regarding the Elderly Dental Assistance Programme (EDAP) funded by the Community Care Fund, the services under the programme have been optimised from July 2, 2024 with the essential requirement of fitting removable dentures relaxed. This allows eligible elderly persons to receive dental services specified under the EDAP even if they are not suitable for dentures. This enhancement measure aims to encourage eligible elderly persons to manage dental diseases at an early stage by opting for preventive and curative dental services, thereby retaining their natural teeth as much as possible and avoiding tooth extractions and denture fittings. To further encourage the elderly persons to apply for services under the EDAP, the Health Bureau (HHB) is promoting the above programme through district service units. The implementing agent has held briefing sessions to introduce the EDAP to dentists and encourage their participation. Apart from strengthening its communication with the implementing agent, the HHB has taken measures to ensure that improvements have been made to the EDAP implementation, including enhancing the eligibility checking mechanism to cover all eligibility criteria, publishing a list of participating dentists and dental clinics, and revising the guidelines provided to service units to specify the appointment scheduling process for applicants who have not indicated their preferred dentist and dental clinic. To expedite the processing of long outstanding cases, the implementing agent has amended the guidelines issued to dentists and dental clinics to clearly include the time limit for claiming fees, and has increased manpower and enhanced computer performance.

         Based on the recommendations of the Working Group on Oral Health and Dental Care, the Government will strive to develop and promote primary dental care services in the future to help citizens manage their oral health, and to put prevention, early identification, and timely intervention of dental diseases into practice. The Government will also explore how to continue developing appropriate dental care services targeted at the underprivileged groups, including persons with financial difficulties, persons with disabilities or special needs and high risk groups. The target of the Working Group is to issue the Final Report before the end of its term by late 2024, and to present to the Government recommendations on implementing various policy directions and the development of dental services.

         Regarding Provision and monitoring of Rehabus services, the Labour and Welfare Bureau (LWB) and the Transport Department (TD) have actively followed up on the comments and recommendations made by the Audit Commission and the PAC on the provision and monitoring of Rehabus services.

         The TD is collecting data on the travelling needs of persons with disabilities through the Rehabus operators (the operators) for assessing the demand for Rehabus services. The LWB will review the policy and models of service delivery of Rehabus services upon receipt of relevant data and assessment. The TD is also reviewing the existing arrangement of signing Memoranda of Understanding (MOUs) with the operators and considering the adoption of other legally binding regulatory approaches for more effective monitoring of Rehabus services.

         To monitor the performance of the operators, the TD implemented various measures to ensure the operators’ strict compliance with the requirements stipulated in MOUs, including convening meetings of the Rehabus Management Committee and the Users’ Liaison Group as required, submitting the financial documents in a timely manner, etc. The TD also increased its regular meetings with the operators from once every quarter to once a month, and will conduct service reviews on an annual basis and set additional performance pledges.

         Regarding the procurement of vehicles, the TD updated the relevant procurement guidelines with the operators and formulated an action checklist to ensure that staff concerned strictly comply with the relevant procurement requirements and procedures.

         As regards the provision of scheduled route service, the TD is closely monitoring the operator’s review of the existing services and progress of route consolidation. In addition, as per the TD’s advice, the operator has provided connecting services to nearby railway stations or interchanges since September 2024 as an option for applicants who have been waiting for the service for some time. This arrangement will help reduce the number of applicants for the service, hence will shorten the waiting time as well.

         As for the provision of dial-a-ride (DAR) service, the TD urged the operator to step up its efforts in recruiting drivers. The shortage of drivers has improved, and the rate of rejected orders of DAR service due to insufficient drivers also dropped. The TD is also closely monitoring the operator’s adoption of the new integrated computer system in arranging shared-use service, with a view to exploring the feasibility of further enhancing the shared-use arrangement.

         Regarding the provision of feeder service, the TD reviewed with the operator the hospital routes and recreational routes with low patronage, and will continue to consolidate and enhance the service to improve operational efficiency. Subject to the manpower arrangement of drivers, the TD is also exploring with the operator the feasibility of further shortening the booking time of recreational route service.  Furthermore, the TD explored with the operators the setting of a limit on the maximum number of carers for DAR service and feeder service, and will consult the stakeholders in due course. The TD will continue to monitor the operator’s implementation of various service enhancement pledges, increase the number of monitoring surveys, step up spot checks on the operator and accounting records, etc.

         President, I would like to thank the PAC again for its efforts and suggestions. The B/Ds concerned will strictly adhere to their responses and implement various improvement measures as set out in the GM with full efforts.

         Thank you, President.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ3: Legislative Council General Election

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Stanley Ng and a reply by the Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai, in the Legislative Council today (October 23):
     
    Question:
     
         The National People’s Congress passed a Decision on improving the electoral system of the Hong Kong Special Administrative Region in March 2021 to fully implement the principle of “patriots administering Hong Kong”. Subsequently, the SAR Government completed the work of amending the relevant local electoral legislation in accordance with Annexes ‍I and II to the Basic Law as amended by the Standing Committee of the National People’s Congress. On the other hand, the current term of the Legislative Council (LegCo) will end on December 31 next year, and the LegCo General Election will be held at the end of next year. There are views that the LegCo General Election is an important aspect of implementing the principle of patriots administering Hong Kong and promoting good governance of the SAR Government, and there must not be any chance of a mishap. In this connection, will the Government inform this Council:
     
    (1) with reference to the overwhelming publicity for the 2023 District Council Ordinary Election, how the Government will further step up the efforts in the publicity for the LegCo General Election next year, so as to enhance the atmosphere of the election and call upon more electors to actively participate in voting to elect patriotic and capable people to participate in the work of LegCo;
     
    (2) as the Government has indicated that it will expand the application of information technology to make elections more efficient and user-‍friendly, of the new information technology that the Government will consider applying in the LegCo General Election to be held next year, so as to enhance the effectiveness of the election; and
     
    (3) with reference to past electoral experience, how the Government assesses and resolves the potential risks in the LegCo General Election to be held next year, so as to ensure that the election will not be subject to external interference and will be conducted in a safe, orderly and fair manner?
     
    Reply:
     
    President,
     
         After the improvement of the electoral system in 2021 and the improvements in district governance and reforms to the District Councils in 2023, the electoral system of the Hong Kong Special Administrative Region (HKSAR) has been improved. The HKSAR Government has successfully held five important elections, allowing Hong Kong to achieve good governance as well as entering the stage from stability to prosperity. As President Xi Jinping stated: “The new electoral system is a political and democratic system that aligns with the principle of ‘one country, two systems’, fits the realistic conditions of Hong Kong, and meets the developmental needs of Hong Kong, which must be treasured and adhered to in the long term.”
     
         In response to the questions raised by the Hon Stanley Ng, the replies are as follows:
     
    (1) The HKSAR Government has emphasised time and again that the electoral system of the HKSAR is crucial to the stability of “one country, two systems”, and to the good governance and long-term stability of the HKSAR. The improved electoral system not only safeguards the security of the country’s political power, but also fully implements the principle of “patriots administering Hong Kong”, which protects the jurisdiction of the HKSAR, as well as the harmony and stability of Hong Kong and the well-being of the public. The new electoral system has also demonstrated its characteristics and advantages of broad representativeness, political inclusiveness, balanced participation and fair competition, laying a solid foundation for the long-term and healthy development of democracy in Hong Kong. For this reason, the Government has spared no effort in publicising and promoting the new electoral system, so that members of the public can fully understand that the new electoral system is closely related to them and its importance. In particular, whenever large-scale public elections are held, the HKSAR Government will launch massive publicity campaigns to create a heated election atmosphere in the whole community, so that the public will be keenly concerned about and participate in the elections enthusiastically, so as to elect people who are trustworthy and genuinely committed to contributing to our country and Hong Kong to take up the relevant seats.
     
         Take last year’s District Council Election (DCE) as an example, a number of innovative and diversified approaches were adopted in the publicity work, such as the “Night Vibes DCE”, “DCE into the Community” and the “Build a Better Community Gala”, which were brand new, down-to-earth and in close proximity to the public; in addition to the distribution of thank you cards to voters and the setting up of “check-in” spots, which were well received by the public and had a very satisfactory effect on the overall publicity work. Various government bureaux and departments have also made concerted efforts to launch various forms of election publicity activities, resulting in a pervasive election atmosphere in the whole community, and the effectiveness of which is evident to all.
     
         In view of the importance of elections and the successful experience gained in the past, the Government will continue to conduct publicity works for future public elections, such as the Legislative Council General Election (LCGE) to be held next year, through various innovative, diversified and down-to-earth means, with a view to launching more highlight activities to create a strong election atmosphere, so as to enhance the public’s awareness of the elections on the one hand, and to increase their attention to and participation in the elections on the other.
     
         At present, we are conducting a detailed review and optimising the planning of the arrangements for the various processes of the election, including the publicity work for the LCGE, etc. We will consult the Legislative Council as soon as possible when we have any specific ideas at a later stage.
     
    (2) Since the improvement of the electoral system, the HKSAR Government has also been striving to optimise and enhance the various arrangements for elections, so as to ensure that elections are conducted in a fair, just and honest manner, and at the same time, to have efficiency and user-friendliness constantly enhanced. For example, the Registration and Electoral Office (REO) has introduced an electronic poll registration system since 2021, which is much more efficient and accurate than the previous mode of manual ballot paper distribution, thus significantly reduced the time for electors to queue up for ballot paper distribution and casting their votes.
     
         In addition, during last year’s DCE, the REO set up an online booking platform for electors to register for the use of the near boundary polling stations, so as to facilitate members of the public to plan their itinerary for the election day well in advance. A dedicated website was also provided to allow electors to check the real-time queuing hours of the polling stations, so as to facilitate the planning of polling arrangements by electors. In addition, the REO has also set up additional electronic ballot paper checking devices at the polling stations for the electors of the District Council constituencies to ensure that the ballot papers are properly and validly marked. Starting from this year, the Government’s “iAm Smart” application has been fully integrated into the voter registration process for providing a more convenient experience to the applicants.
     
         At present, we are conducting a comprehensive review of the various electoral processes and considering the introduction of appropriate information and intelligent technologies in the light of the actual situation. However, when considering the specific arrangements, we shall give holistic consideration to the application of technology, enhancement of efficiency, safety and security, privacy protection and public perception, and strike a proper balance to ensure the safe and orderly conduct of the election. We will consult members of the Legislative Council again when we have come up with the specific arrangements later.
     
    (3) With the electoral system imrpoved and the principle of “patriots administering Hong Kong” fully implemented, the governance of the HKSAR is now firmly in the hands of the patriots. In regard to the LCGE to be held next year, the systemic safeguard of the political system can be categorised into the following four levels:
     
         (i) candidates must be nominated by two to four members of the Election Committee from each sector. All Election Committee members are patriots who love Hong Kong and will exercise stringent gate-keeping in making nominations, so as to ensure that those who are not patriots and do not love Hong Kong will be excluded;
     
         (ii) the eligibility of candidates will be checked and confirmed by the “Candidate Eligibility Review Committee” to ensure that the statutory requirements of upholding the Basic Law and bearing allegiance to the HKSAR of the People’s Republic of China (PRC) are met;
     
         (iii) candidates will be required to take the oath to uphold the Basic Law and bear allegiance to the HKSAR of the PRC in accordance with the law when standing for election and assuming office, and the oath will be confirmed by the Commissioner for Oaths to be valid; and
     
         (iv) even after the assumption of office, if the candidate concerned has acted in breach of the oath, the Government may activate the statutory procedures to disqualify the relevant person from the office in accordance with the law.
     
         In respect of electoral arrangements, the REO has all along maintained close liaison with the police and other law-enforcement agencies, and has put in place an established mechanism for collecting and analysing intelligence to objectively assess the risk of an election being obstructed, interfered with, disrupted or seriously affected, and to take measures as appropriate to mitigate the relevant risks and hazards, as well as to draw up various contingency plans to cope with any unforeseen circumstances.
     
         In addition, since the last DC election, the Constitutional and Mainland Affairs Bureau, in conjunction with the Information Services Department and other relevant departments, has set up a rapid response team before and after the election day to closely monitor and pay attention to various types of information during the election period, and to swiftly and effectively refute or clarify all kinds of false or inaccurate information or comments, so as to ensure that the election will not be affected.

         Thank you, President.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: FS begins New York visit

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan has begun a visit to New York by delivering a keynote speech at the Bloomberg Global Regulatory Forum on the theme of how to build a future-proof financial system.

    Mr Chan outlined that despite facing various challenges in recent years, Hong Kong’s economic and financial fundamentals remain strong and resilient.

    He highlighted that data, in addition to international rankings and assessments, show that Hong Kong continues to play an important role in the global financial market and serve as a leading international financial centre in Asia. He added that its levels of economic freedom and competitiveness are among the highest in the world, and that recent inflows of investment from the US and Europe reflect confidence in the city.

    Mr Chan also iterated that thanks to the “one country, two systems” arrangement and China’s pursuit of high-level opening-up, Hong Kong’s unique advantages will only become more evident, making the city better able to fulfil its role as a “super-connector.”

    In his speech, Mr Chan also elaborated on Hong Kong’s robust financial regulation.

    He said that as a small and fully open economy, the city has learned from past experience how to respond to external shocks and market volatility. This has been achieved through identifying and addressing systemic weaknesses, establishing a cross-sectoral, co-ordinated and round-the-clock risk detection and monitoring system, and building strong buffers to respond to various risks and challenges.

    The Financial Secretary emphasised that the ultimate goal of financial regulation is to promote healthy and sustainable market development, which is why Hong Kong’s financial regulators take on dual roles as both regulators and market enablers. He explained that this requires them to establish an agile and forward-looking regulatory regime, respond swiftly to market changes, and embrace technological innovation, with a view to creating the conditions for a thriving market and promoting the financial system’s long-term development.

    Finally, Mr Chan shared two key future development directions for Hong Kong – namely that it will continued to deepen various “connect” schemes and strengthen links and regulatory co-operation with Mainland and global capital markets; and that it will embrace innovation, which includes enabling the responsible and sustainable development of digital assets.

    Prior to giving his speech, Mr Chan met Founder of Bloomberg L.P. and Bloomberg Philanthropies Michael Bloomberg to exchange views on issues of mutual concern.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Kowloon City youth hostel approved

    Source: Hong Kong Information Services

    The Home & Youth Affairs Bureau today approved a youth hostel project located in the Regal Oriental Hotel in Kowloon City, with a total of 80 rooms that will provide up to 160 hostel places.

    Named YOT Hub, the project is the fifth one under the Subsidy Scheme for Using Hotels & Guesthouses as Youth Hostels. 

    The project will be launched by the Yan Oi Tong company and the Regal Hotels Group.

    One of the features of the project is to help youth tenants enrich their understanding of the national development opportunities through trainings, and exchange and internship programmes.

    It will also provide young people with self-enhancement and support services in different aspects, such as financial management courses, career development workshops and mental health seminars.

    In addition, Yan Oi Tong will form a youth service team and invite young people to collaborate in organising community activities.

    It also plans to arrange volunteer services regularly to encourage young people to contribute to the community and establish their sense of belonging to society and responsibility.

    The bureau said YOT Hub is well connected by public transport with comprehensive community facilities in the vicinity.

    It added that the project not only provides young people with a comfortable living environment but also enables them to broaden their horizons and achieve their personal development goals through various self-enhancement activities. 

    The bureau expressed that it is delighted that the subsidy scheme continues to gain support from hotel and guesthouse operators to provide youth with an enabling environment and hope for the future.

    It added that it intends to continue to collaborate with relevant stakeholders who share its vision to take forward youth hostel projects.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: BL test for teachers scheduled

    Source: Hong Kong Information Services

    The second sitting of the Basic Law & National Security Law Test (BLNST) in the 2024-25 school year is scheduled for December 15, the Education Bureau (EDB) announced today.

    Applications can be made from Friday until November 7. 

    Target participants for this round of the test are bachelor’s degree holders, or students who will attain a bachelor’s degree in 2025 or 2026, who plan to join or change to another secondary school, primary school or kindergarten to take up a teaching post.

    Limited places for the test will be available on a first come, first served basis.

    Those who have obtained a pass result in a test organised by the EDB, the Civil Service Bureau or a recruiting department or grade, will not be accepted to sit for it again. 

    The third, fourth and fifth sittings of the test will be held in April, June and July next year. Relevant arrangements will be announced in due course.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 2024-25 judicial service pay adjustment

    Source: Hong Kong Government special administrative region

    2024-25 judicial service pay adjustment
    2024-25 judicial service pay adjustment
    ***************************************

         On the recommendation of the Standing Committee on Judicial Salaries and Conditions of Service (Judicial Committee) chaired by Dr Clement Chen, the Chief Executive in Council has decided that the pay for Judges and Judicial Officers (JJOs) for 2024-25 should be increased by 3 per cent. The pay adjustment will take retrospective effect from April 1, 2024.     ​     A Government spokesman today (October 23) said, “In coming up with its recommendation on judicial pay for 2024-25, the Judicial Committee premised its deliberations on the need to uphold the principle of judicial independence; and adopted a balanced approach taking into account a basket of factors as approved by the Chief Executive in Council in May 2008 and the position of the Judiciary. The basket of factors includes:(a) responsibility, working conditions and workload of judges vis-à-vis those of lawyers in private practice;(b) recruitment and retention in the Judiciary;(c) retirement age and retirement benefits of JJOs;(d) benefits and allowances enjoyed by JJOs;(e) unique features of the judicial service such as security of tenure, the prestigious status and high esteem of the judicial offices;(f) prohibition against return to private practice in Hong Kong;(g) overseas remuneration arrangements;(h) cost of living adjustments;(i) general economic situation in Hong Kong;(j) budgetary situation of the Government;(k) private sector pay levels and trends; and(l) public sector pay as a reference.”     A copy of the Report on Judicial Remuneration Review 2024 submitted by the Judicial Committee to the Chief Executive on August 21, 2024, is available on the website of the Joint Secretariat for the Advisory Bodies on Civil Service and Judicial Salaries and Conditions of Service (www.jsscs.gov.hk/en/publications/reports_jscs.htm).     ​     The Government will seek the approval of the Finance Committee of the Legislative Council on the proposed pay adjustment.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Capgemini announces leadership appointments

    Source: GlobeNewswire (MIL-OSI)

    Media relations:
    Sam Connatty
    Tel.: +44 (0)370 904 3601
    Email: sam.connatty@capgemini.com

    Capgemini announces leadership appointments

    • Anirban Bose becomes CEO of the Americas Strategic Business Unit
    • Kartik Ramakrishnan becomes CEO of the Financial Services Strategic Business Unit
    • Jerome Simeon will take on the role of Chief Revenue Officer
    • Franck Greverie will become Chief Technology Officer

    Paris, October 23, 2024 – Capgemini today announced some key leadership appointments. Anirban Bose succeeds Jim Bailey as CEO of the Americas Strategic Business Unit, effective November 1. Consecutively, Kartik Ramakrishnan is appointed CEO of the Financial Services Strategic Business Unit. Jerome Simeon will become Chief Revenue Officer and Franck Greverie Chief Technology Officer, both from January 1, 2025. Following an outstanding 34-year long career at Capgemini, Olivier Sevillia, Chief Operating Officer, has decided to pursue new endeavors as an individual, and will leave the Group at the end of 2024. With his deep global experience and passion for digital transformation, Olivier will focus on promoting the techno-business ecosystem of European companies to help improve their competitiveness. The whole Capgemini team is looking forward to supporting Olivier in his next chapter.

    “These appointments strengthen the Group’s growth ambition and reinforce Capgemini’s role as the go to business and technology partner for our clients. Anirban Bose has been at the helm of our Financial Services division for the last six years and instrumental in building and shaping this business across the globe. Anirban is well positioned to accelerate our trajectory in the Americas, building on our progress in the region over the past 4 years under the leadership of Jim Bailey. I would like to thank Jim for his many contributions to Capgemini. Kartik Ramakrishnan, who has been running the Banking sector for the past six years, is Anirban’s natural successor, to ensure the global business will continue to go from strength to strength,” comments Aiman Ezzat, CEO of the Capgemini Group. “To bolster our laser focus on growth, Jerome Simeon will take on a new position of Chief Revenue Officer for the Group in the new year. His role will encompass our activities across sales, key clients and industries to bring even greater value to our clients as we accompany them on their business-critical transformations. Franck Greverie will add Chief Technology Officer to his scope of responsibility, also from January 1. His deep tech expertise and forward-thinking approach will accelerate our efforts to build innovative value creating solutions for our clients. I wish Anirban, Kartik, Jerome and Franck every success in their new roles.”

    Aiman Ezzat continues, “After an outstanding 34-year long career at Capgemini and an impressive track record in leading and operating strategic businesses across the Group, Olivier Sevillia will step down as Group COO at the end of 2024. We are all looking forward to supporting Olivier in his new endeavors as an individual, focused on applying his extensive experience in digital transformation to promote a rich techno-business ecosystem to help improve the competitiveness of European businesses. The board of directors joins me in thanking him and paying tribute to his commitment and service.”

    Biography: Anirban Bose

    Anirban was Head of Capgemini’s Financial Services Strategic Business Unit and a member of the Group Executive Board from 2018. He was also responsible for overseeing the Asia Pacific Strategic Business Unit.

    Prior to this, Anirban was the Head of Capgemini’s Banking and Capital Markets Business Unit.

    Between 2007 and 2015 Anirban led Capgemini’s Banking Business Unit. From 2004 to 2007, Anirban served as executive vice president at Kanbay before its 2007 acquisition by Capgemini.

    Anirban resides in New York. He graduated from the Indian Institute of Technology of Varasani with a Bachelor of Technology. He holds an MBA in Finance from the University of Chicago.

    Biography: Kartik Ramakrishnan

    Kartik was the Deputy CEO of Capgemini’s Financial Services Strategic Business Unit and also led Capgemini’s Banking and Capitals Markets business. Kartik has been a member of the Group Executive Committee since 2023.

    Prior to this, Kartik was responsible for managing sales teams across banking and capital markets.

    Kartik has spent over 25 years consulting in the banking and payments industry. Over his career, he has been involved in launching new products and developing innovative, cost-effective solutions for financial services firms across the globe in countries such as Australia, Canada, Germany, India, Singapore, United Kingdom and United States of America.

    Kartik has a bachelor’s degree from the Indian Institute of Technology and a master’s degree from the Booth School of Business at University of Chicago.

    Biography: Jerome Simeon

    Jerome became the Head of Global Industries in 2023. He has been a Member of the Group Executive Board since 2021.

    Prior to this, he was the CEO of the Southern Europe Strategic Business Unit. From 2018 to 2020, Jerome was Managing Director of Capgemini in France, when he also joined the Group Executive Committee.

    From 2014, he was CEO, Application Services France after serving as Commercial Director (from 2012 to 2014).

    Prior to this, from 2007 to 2010, he held commercial positions in Capgemini’s Telecom & Media business after managing the development and sales for the Property & Services Europe sector of BT Global Services for two years.

    Jerome joined Capgemini in 1998, after eight years with the group Générale des Eaux/Vivendi. Jerome graduated from Toulouse Business School.

    Biography: Franck Greverie

    Franck Greverie has been the Chief Portfolio Officer at Capgemini since 2018.

    Franck has been on the Group Executive Board since 2020, when he took on additional responsibilities overseeing Cloud Infrastructure Services (cloud & cybersecurity), Business Services and Insights & Data (Data & AI) Global Business Lines.

    Prior to this, from 2016, Franck led the Cloud & Cybersecurity activities of Capgemini. He joined Capgemini in 2015 as Head of the Cybersecurity Global Service Line.

    Between 2012 and 2015, Franck was an Executive VP at Bull, where he was in charge of the Security Division, and also led the Middle East, Africa and Asia activities.

    Prior to that, Franck was the Managing Director of the Information Systems Security and Cybersecurity activities for Thales Group (France, UK, Germany, Norway, USA, Asia) since 2018. His career with Thales began in 2004, as Head of Strategy, Business Development and Marketing for the Security activity.

    Franck is a graduate of ESME, engineering school, and of the Executive MBA of ESSEC Business School.

    Note to Editors
    High-resolution photography of Anirban Bose, Kartik Ramakrishnan, Jerome Simeon and Franck Greverie is available on request.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organisations to accelerate their dual transition to a digital and sustainable world while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fuelled by its market-leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.
    Get the future you want | http://www.capgemini.com

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    The MIL Network –

  • MIL-OSI Asia-Pac: LCQ17: Kai Tak Sports Park

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Benson Luk and a written reply by the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, in the Legislative Council today (October 23): Question:      The Kai Tak Sports Park (KTSP) will be officially open early next year, and the government departments concerned have currently commenced the preparatory work for the commissioning of the KTSP. In this connection, will the Government inform this Council: (1) whether the authorities have finalised the leasing arrangements and charge levels for the KTSP’s Main Stadium, Indoor Sports Centre, Public Sports Ground and the rest of precinct for reference by members of the industry and the public; if so, of the details; if not, the reasons for that; (2) given that Kai Tak Sports Park Limited (KTSPL) has undertaken to implement a Sports Events Support Scheme, which aims to waive venue hiring charges for sports events held in the KTSP or make direct financial contribution to sports events, whether the authorities have grasped the implementation of the Scheme at this stage; if so, of the details, including the number of local and overseas events involved; if not, the reasons for that; (3) as it has been learnt that at present catering and a variety of entertainment facilities are provided in the vicinity of venues where mega events are held (such as the Hong Kong Stadium), enabling spectators to get warmed up for the mega events and the vibrant atmosphere to continue before and after the matches, whether the authorities have formulated any short-term and long-term plans to increase the provision of similar facilities in the vicinity of the KTSP; if so, of the details (including the specific development plans); if not, the reasons for that; (4) whether the authorities will draw up guidelines to require KTSPL to make public announcements about an event certain days before the date of the event, so as to facilitate the stakeholders concerned to take forward as early as possible the related publicity work to attract inbound tour groups and visitors coming to Hong Kong under the Individual Visit Scheme; if so, of the details; if not, the reasons for that; and (5) whether the authorities have any idea of formulating an integrated development plan for the KTSP and the adjacent Kai Tak Cruise Terminal, so as to shape them into a core tourist landmark of Kai Tak and Kowloon City, thereby enhancing their synergy as a tourist attraction; if so, of the details; if not, the reasons for that? Reply:President,      Being the largest sports infrastructure project in Hong Kong’s history, the Kai Tak Sports Park (KTSP) is crucial to the Government’s implementation of sports policies of promoting sports in the community, supporting elite sports, developing Hong Kong into a centre for major international sports events, enhancing professionalism and developing sports as an industry. The KTSP will provide modern and multi-purpose sports and recreation facilities upon completion, including a 50 000-seat Main Stadium, a 10 000-seat Indoor Sports Centre, a 5 000-seat Public Sports Ground and about 14-hectare landscaped open space and other ancillary facilities.            Currently, the construction works of the KTSP has entered into the final phase and the KTSP will be open in the first quarter of 2025. The Government has established the inter-departmental Task Force on KTSP, led by the Chief Secretary for Administration, to oversee the smooth completion and commissioning of the KTSP and its publicity work, fostering the synergistic development of major sports events, innovative entertainment, dining, conventions and exhibitions, as well as tourism activities. The Task Force will also formulate thorough plans and conduct comprehensive drills on security deployment, crowd management, emergency response, and other areas. The Culture, Sports and Tourism Bureau (CSTB), Kai Tak Sports Park Limited (KTSPL) together with relevant bureaux/departments are planning various drills and test events to be conducted from October this year to February next year, with a view to fine-tuning and enhancing the operation model as well as various arrangements such as crowd dispersal and transportation when staging large-scale events. We will also adjust strategies as necessary to fully prepare for the commissioning of the KTSP.      My consolidated reply to the questions raised by the Hon Benson Luk is as follows:     (1) According to the contract between the Government and the operator, the hiring charges in respect of sports events and community casual hire of the KTSP (including the Main Stadium, Indoor Sports Centre and Public Sports Ground) shall be comparable to those of similar facilities provided by the Leisure and Cultural Services Department, educational institutions and other non-profit making organisations. The operator has to obtain approval from the CSTB for the hiring charges, so as to ensure that the sports sector and citizens can enjoy the facilities of the KTSP to promote sports development.      KTSPL has already provided organisers, who express interest in hiring facilities in the KTSP for staging large-scale events, with the relevant information with respect of their hiring proposals. As for the hiring charges for the general public in using individual facilities in Indoor Sports Centre and Public Sports Ground, the KTSPL will make the announcement later.(2) KTSPL undertakes to implement a Sports Events Support Scheme (the Scheme) to support sports events. Its financial commitment under the SESS is $1.583 billion in total, which is to be disbursed over a period of around 20 years. Commitment under the Scheme will be met either by waiving venue hiring charges for sports events held in the KTSP or by making direct financial contribution to any sports events. The above arrangements will encourage the operator to proactively promote the KTSP as “the destination” for local and international large-scale sports events. It is expected that the Scheme will be implemented next year. KTSPL is refining the details of the Scheme and will announce the application arrangement later.      The implementation of the Scheme will be monitored by the CSTB. If KTSPL does not fully utilise the estimated expenditure under the Scheme in a particular year, an amount equivalent to the outstanding commitment shall be paid to an entity (e.g. “national sports associations”) nominated by the CSTB for supporting sports.(3) The KTSP will provide a one-stop sports, leisure, catering and shopping experience for citizens and tourists. With respect of the catering services, the 57 executive suites in the Main Stadium are supported by catering service providers offering various kinds of upscale dining options. There are also some 30 bars and catering outlets in the Main Stadium which should be able to meet the catering needs as compared to other facilities of similar scale in the world. In addition, the KTSP will, with reference to the scale and needs of different events and matches as well as at the requests of organisers, arrange 10 to 20 mobile catering booths during the staging of large-scale events. The number of catering booths will be flexibly increased based on actual situation. Besides, there are over 700 thousand feet of retail, catering as well as leisure and entertainment facilities in the KTSP. Catering facilities include some 70 outlets of international cuisines and nine diversified concept restaurants at the Dining Cove where citizens and tourists can choose to dine in the indoor or outdoor areas and enjoy the breath-taking views of the Victoria Harbour. As regards leisure and entertainment facilities, the KTSP will provide facilities including a health and wellness centre, a bowling centre, an outdoor rock climbing area, beach volleyball courts, tennis courts, a covered 5-a-side football pitch and multi-purpose activity space for the public to enjoy.      The neighbouring districts of Kowloon City and To Kwa Wan which are in close proximity of the KTSP also provide an array of dining options. Citizens and tourists who visit the KTSP for matches or large-scale events can walk to the two districts for a taste of our local culinary delights, similar to walking from the Hong Kong Stadium to Causeway Bay or Tin Hau. The Government will continue to work closely with KTSPL to further enhance visitors’ experience as well as liaise with relevant departments and the Hong Kong Tourism Board to promote the leisure and catering options in the vicinity of the KTSP so as to create a synergy effect for bringing about local economic development.(4) KTSPL has been actively making contact and having commercial negotiations with local and international sports and non-sports events’ promotion bodies, organisations and agencies. Generally speaking, the promotion strategy of events is led by organisers whereas KTSPL, being the venue provider, has to act in concert with the plans of the event organisers. KTSPL cannot disclose details of the events before the organisers do so. Nevertheless, KTSPL will maintain close communication with event organisers and coordinate with their overall publicity plan and share more details of their events with the public in due course.(5) The KTSP and the Kai Tak Cruise Terminal (KTCT) are both located within the Kai Tak Development Area. The KTSP, upon completion, will provide retail and catering facilities as well as host different types of large-scale sports, culture or entertainment events, thereby providing cruise passengers with more options for onshore activities. The hotels in the vicinity of the KTSP will also offer an additional choice of accommodation for travellers.     On the other hand, the KTSP will drive the flow of people in the district and attract tourists to spend in Hong Kong during various large-scale sports, culture or entertainment events, promoting the economic transformation and development of Kowloon East. The Government will continue to enhance the KTCT’s function as a venue for conventions, exhibitions and other events. In preparing the work plans for the KTSP and KTCT, the CSTB will consider how the two major infrastructures could complement each other, with a view to creating synergies by fully leveraging the respective facilities.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ10: Application of drones

    Source: Hong Kong Government special administrative region

         Following is a question by the Ir Dr Hon Lo Wai-kwok and a written reply by the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, in the Legislative Council today (October 23):
     
    Question:
     
         There are views pointing out that with the development of low-altitude economy, the scope of drone application will continuously expand for purposes such as carrying sightseeing passengers or delivering meals and other goods. In addition, the arrangement of large-scale drone shows over the Victoria Harbour on festive days is also a selling point to attract visitors to Hong Kong. However, it has been reported that three recent drone shows in Hong Kong were cancelled at short notice (including the drone shows at the Wan Chai waterfront on September 21, the West Kowloon Cultural District on ‍September 30 and the Victoria Harbour on October 1), leaving members of the public and visitors who waited for a long time disappointed. In this connection, will the Government inform this Council:
     
    (1) whether the authorities had, before the aforesaid drone shows, assessed in detail with the organisers the various factors that might affect the drone shows as well as the different scenarios that might arise, drawn up fallback plans, and stepped up the coordination and support among different government departments; if so, of the details; if not, the reasons for that;
     
    (2) whether the authorities had, before the aforesaid drone shows, put forward specific testing requirements to the outsourced contractors and formulated a mechanism for coordination and notification in the event of incidents, and taken timely follow-up actions after the short-‍notice cancellation of the shows; if so, of the details; if not, the reasons for that; and
     
    (3) whether the authorities will formulate more forward-looking policy measures and allocate more resources to strengthen the research and development, application and regulation of drone technology; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In respect of the question raised by Ir Dr Hon Lo Wai-kwok, in consultation with the Transport and Logistics Bureau, the Innovation, Technology and Industry Bureau, the Office of the Communications Authority (OFCA) and the Hong Kong Observatory, the consolidated reply is as follows:
          
         For parts (1) and (2) of the question, as a drone show generally involves operation of a large number of drones in a confined airspace, the operation of drones heavily relies on the high-precision reception of Global Navigation Satellite System (GNSS) signals.
          
         From the perspectives of aviation and public safety, drone shows which involve operations exceeding the standing operating requirements of small unmanned aircraft are considered as advanced operations and require prior permission from the Civil Aviation Department. Advanced operation permit holders are required to conduct risk assessment in accordance with the established procedures prior to the drone shows in order to identify all potential risks, including the stability of the drones’ satellite positioning signals, so as to ensure the safe conduct of the drone shows.
          
         While drone shows can be organised by private organisations, for a drone show organised by the Government, the OFCA will generally conduct radio monitoring at the event venue. The OFCA will detect any source of harmful interference to the radio frequencies to be used by the drone system. It is understood that the atmospheric conditions (including ionospheric scintillation) may significantly affect the quality of GNSS signals. However, because of the rapid changes in ionospheric disturbance caused by solar activities, the precise influence of ionospheric scintillation in terms of timing, location and extent, etc. could not be accurately predicted in advance.
          
         In preparation of the “Celebration of National Day – The Next Generation Chorus Performance” and “2024 National Day Fireworks Display” held on September 30 and October 1, 2024 respectively, the Government had held a number of inter-departmental meetings and drawn up contingency plans with the drone show operators. The operators of the two aforementioned drone performances also conducted multiple tests and rehearsals before the events (including on the day of the performance). Nevertheless, there was a sudden occurrence of ionospheric scintillation over Victoria Harbour during the events resulted in the drones being unable to receive good satellite positioning signals. After confirming that the ionospheric scintillation would prevent the drone shows from proceeding, we promptly made on-site announcements. For the drone show held on September 21, 2024, it was organised by a non-governmental organisation.
          
         Taking into account the experience of cancellation of the drone shows on September 30 and October 1, 2024, the Government will take into account the following factors and prepare suitable contingency plans when organising drone shows in future –
     
    (a) the weather conditions (rain, wind speed, typhoon, etc.), as well as ionospheric disturbance which may seriously affect the reception of GNSS signals by the drone system concerned;
     
    (b) the nature of performance, audience and performers;
     
    (c) the programme rundown, such as whether there are performances which are linked to the drone show, whether the drone show is a standalone show, etc.; and
     
    (d) whether there is flexibility to adjust the timing and scale of the drone show during the programme in case of weather or ionospheric disturbance to the drone show.
     
         For part (3) of the question, in the light of technological advancement, improvements in the technology and design of drones will help enhance their stability and accuracy, thereby exploring more application scenarios for drones. In the 2024 Policy Address, the Government announced a series of initiatives to promote the development of low-altitude economy (LAE) in Hong Kong, including the establishment of the Working Group on Developing LAE which is led by the Deputy Financial Secretary to formulate development strategies and inter-departmental action plans, as well as plan for low-altitude infrastructure. At the same time, the Government will press ahead with pilot projects to explore the applications of drones at designated locations, and will amend relevant legislation to put in place a regulatory framework for different types of drones. The Government will commence the relevant work as soon as possible to proactively promote LAE as one of the new growth engines.
          
         The Government also has all along been supporting research and development (R&D) in different technology areas through the Innovation and Technology Fund (ITF). Under the various ITF funding schemes, the Government supports local universities, R&D centres and enterprises to conduct R&D projects, including those low-attitude economy-related fields such as electronic, data transmission and processing, etc.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: IADS Showroom Day

    Source: Hong Kong Government special administrative region

    IADS Showroom Day
    IADS Showroom Day
    *****************

    The following is issued on behalf of the Hong Kong Monetary Authority:     The Hong Kong Monetary Authority (HKMA) announced today (October 23) the official Chinese name for the Interbank Account Data Sharing (IADS) initiative and the launch of the IADS Developer Platform, in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), enabling banks to securely and efficiently share bank account data with other banks, subject to customer consent.     The IADS pilot programme commenced in January this year, with a total of 28 participating banks (see Annex). The programme has established the rules and standards facilitating interbank customer-consented data sharing, covering retail, corporate and small and medium-sized enterprise (SME) customer segments. This allows banks to share customers’ deposit account information (including account availability, status, balances and transaction records) with other banks, subject to customer consent. The initiative aims to encourage the industry to launch more innovative data-driven banking products and services, thereby enhancing customer experience.     To showcase the initial results of the pilot programme, the HKMA held the IADS Showroom Day today, allowing banks to share practical applications of IADS, including streamlining loan application process, consolidated financial analysis, and online identity verification. Banks will gradually launch related products to the market.     Additionally, in collaboration with the HKSTP, the HKMA announced the launch of the IADS Developer Platform, a one-stop platform that provides testing account data and simulated application programming interfaces (APIs) from participating banks, facilitating collaboration between banks and technology firms to jointly develop more data-driven products and services.     Deputy Chief Executive of the HKMA Mr Howard Lee said, “The rapid development of the digital economy underscores the importance of secure and efficient data transfer. We are pleased to see the banking sector actively supporting IADS and utilising customer-consented data to provide innovative banking products and services that bring convenience and benefits to the public, promoting the steady and healthy development of the fintech ecosystem.”     For more details about the IADS initiative, please visit the HKMA’s website.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: EPD convictions in September

    Source: Hong Kong Government special administrative region

    EPD convictions in September
    EPD convictions in September
    ****************************

         Twenty-one convictions were recorded in September 2024 for breaches of legislation enforced by the Environmental Protection Department.      Four of the convictions were under the Air Pollution Control Ordinance, six were under the Noise Control Ordinance, seven were under the Public Cleansing and Prevention of Nuisances Regulation, three were under the Waste Disposal Ordinance, and one was under the Water Pollution Control Ordinance.      A company was fined $24,000, which was the heaviest fine in September, for contravening the provisions of a licence.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Orders on Comprehensive Avoidance of Double Taxation Agreements with Armenia, Bahrain, Bangladesh, Croatia and Türkiye to be gazetted

    Source: Hong Kong Government special administrative region

         The Chief Executive in Council made five Orders under the Inland Revenue Ordinance (Cap. 112) yesterday (October 22) to implement respectively the Comprehensive Avoidance of Double Taxation Agreements (CDTAs) that Hong Kong signed with Armenia, Bahrain, Bangladesh, Croatia and Türkiye. The Orders will be gazetted on October 25.

         “Under the CDTAs, residents of Hong Kong and the relevant tax jurisdictions will not have to pay tax twice on a single source of income. This will bring them a greater certainty on taxation liabilities and tax savings when they engage in cross-border trade and investment activities. The CDTAs can help encourage enterprises of Hong Kong to conduct business or invest in the tax jurisdictions concerned, and vice versa,” a Government spokesman said today (October 23).

         The Orders will be tabled at the Legislative Council on October 30 for negative vetting. The CDTAs will enter into force after both Hong Kong and the relevant tax jurisdictions have completed their respective ratification procedures.

         Hong Kong signed the CDTAs with Bangladesh, Croatia, Bahrain, Armenia and Türkiye in August 2023; and January, March, June and September 2024 respectively, bringing the number of tax jurisdictions that have signed CDTAs with Hong Kong to 51.  Highlights of the five new CDTAs are set out in the Annex.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: “!NSPIRE Series 2024: Lingnan Images – A Cinematic Crossover of 4 Cities” to examine cultural landscape of Lingnan (with photos)

    Source: Hong Kong Government special administrative region

    “!NSPIRE Series 2024: Lingnan Images – A Cinematic Crossover of 4 Cities” to examine cultural landscape of Lingnan (with photos)
    “!NSPIRE Series 2024: Lingnan Images – A Cinematic Crossover of 4 Cities” to examine cultural landscape of Lingnan (with photos)
    ******************************************************************************************

         The Film Programmes Office (FPO) of the Leisure and Cultural Services Department (LCSD) will present “!NSPIRE Series 2024: Lingnan Images – A Cinematic Crossover of 4 Cities” from November 23 to January 19 next year, screening films that cover the period from the reform and opening-up to date from Hong Kong, Macao, Shenzhen and Guangzhou at Hong Kong City Hall and the Hong Kong Film Archive. Exchange and workshop sessions will also be held to promote the collaboration of filmmakers of the four cities.      The opening film “Ah Ying” (1983) was directed by Hong Kong new wave director Allen Fong. The film was the winner of Hong Kong Film Awards for Best Film, Best Director and Best Film Editing. It delicately depicts the story between Ah Ying, who works at a market fish stall, and her acting mentor, who has also become her friend.      Various selected films illustrate the cultural impact and exchanges in different times. Renowned actor Chow Yun-fat plays a village chief in “Now You See Love… Now You Don’t” (1992). The clash between the lifestyles and ways of thinking of him and his childhood sweetheart returning from abroad, played by Carol “Do Do” Cheng, leads to scene after scene of hilarious comedy. “Little Cheung” (1999) depicts the livelihood of ordinary people from the perspective of children, who are able to find peace and hope in the midst of chaos with their innocence. “Ip Man – The Final Fight” (2013) and “Knitting” (2008) both reflect on how immigrants adapt to their new lives. The former tells the story of Ip Man, who upholds the virtues of Lingnan martial arts while facing the setbacks that come with his relocation to Hong Kong. The latter depicts the evolution of Guangzhou culture amid an influx of workers from outside, resulting in a mixture of northern and southern influences.      There are also films portraying the confusion that urbanites face. Directed by Philip Yung, “Glamorous Youth” (2009) tells the story of a Hong Kong boy moving to Shenzhen to escape from family pressure and love problems, yet still finding himself trapped in the mundane routines of life. “Sun and Rain” (1987), directed by Zhang Zeming, illustrates the alienation and love between people in a city through a love quadrangle. “Damp Season” (2020) depicts the stress lingering in the lives of the working class in Shenzhen, like the dampness and humidity often found in spring. Both set in Guangzhou, “Eight Diagrams” (2009) is a dark comedy about the desire and sadness of urbanites, while “Something in Blue” (2016) is a travelogue of a city that brings together the unremarkable daily lives of four young people.      Some of the selected films bring the cityscapes to the forefront. “Dot 2 Dot” (2014) traces the present and past of Hong Kong as a man and a woman with contrasting backgrounds navigate through the streets of the city. In “San Yuan Li” (2003) and “Cop Shop II” (2011), the Guangzhou cityscape and its changes through time are respectively illustrated with images and sounds.???     Two distinctive works from Macao will also be screened. Both of them are combinations of six stories. “Macau Stories 2: Love in the City” (2011) consists of six stories about love by six directors, while “Passing Rain” (2017), by director and screenwriter Chan Ka-keong, tells the stories of six characters with intertwined plotlines.      Moreover, two collections consisting of seven short films in total on the history, societies and cultures of the Lingnan region will be screened. The films are “Miasma, Plants, Export Paintings” (2017), “Fonting the City” (2015), “Sons of the Land” (2007), “14 Paintings” (2023), “Real Talk” (2024), “An Asian Ghost Story” (2023) and “Fear and Trembling” (2009).     Some of the screenings will be accompanied by post-screening talks, hosted by actor Hui So-ying, screenwriters Sze Yeung-ping and Mabel Cheung, producer Albert Chu, and directors Wong Teng-teng and Chan Ka-keong. To enable audiences to have a better understanding of the creation of films, there will be seminar screening sessions and exchange sessions. Three sessions of seminar screenings, entitled “The Spirit of Films about Intellectuals”, “Lingnan’s Secret Thoughts in Mind” and “The Current Situation of Macao Cinema”, will be held in which directors Gan Xiao’er, Yang Pingdao, and Wong Teng-teng and producer Albert Chu will share on their creative processes with screenings of selected film excerpts. Eight exchange sessions will also be held with filmmakers from the four cities in dialogues with each other or with film critics and audiences. Speakers include directors Yi Lichuan, Fruit Chan, Philip Yung, Herman Yau, Amos Why, and Zhang Zeming, film critic Joyce Yang and co-curators Law Kar and Feng Yu. Ticket holders of screenings with respective talks or exchange sessions will be admitted with priority, while the remaining seats will be available on a first-come, first-served basis with free admission.      All films are with Chinese and English subtitles. “Glamorous Youth” is rated Category III and restricted to viewers aged 18 or above.     Tickets for film screenings and seminar screening sessions priced at $70 are now available at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288. For programme details, please call 2734 2900 or visit http://www.lcsd.gov.hk/fp/en/listing.html?id=65.      To provide an opportunity for new talent of the film industry from the Mainland, Hong Kong and Macao to gain a better understanding about the industry through discussions and exchanges with guidance from professional filmmakers, the FPO will hold the Brainstorming Workshop covering topics of film production, such as screenwriting, directing, cinematography, post-production, fund sourcing, producing and distribution. The workshop will be conducted in Cantonese and is free for admission, with a quota of 30 places. Film students and those who have been involved in film productions can register for selection from November 25 to December 20. Successful registrants will be invited to participate in the two-day workshop to be held on January 9 and 10 at Ko Shan Theatre. For details of the workshop, please visit the above website.      This screening programme is one of the programmes of the 4th Guangdong-Hong Kong-Macao Greater Bay Area Culture and Arts Festival. Hong Kong is the host city of the Festival for the first time, organising and co-ordinating over 260 performances and exchange activities to be held in the “9+2” cities in the Greater Bay Area. The festival aims to showcase the vibrant and diverse cultural richness of the region and foster cultural exchanges and co-operation among the cities. For more information, please visit http://www.gbacxlo.gov.hk./en.      It is also one of the activities in the Chinese Culture Promotion Series. The LCSD has long been promoting Chinese history and culture through organising an array of programmes and activities to enable the public to learn more about the broad and profound Chinese culture. For more information, please visit http://www.lcsd.gov.hk/en/ccpo/index.html.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Import of poultry meat and products from areas in Hungary and Japan suspended

    Source: Hong Kong Government special administrative region

    Import of poultry meat and products from areas in Hungary and Japan suspended
    Import of poultry meat and products from areas in Hungary and Japan suspended
    *****************************************************************************

         The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (October 23) that in view of notifications from the Ministry of Agriculture of Hungary and the Ministry of Agriculture, Forestry and Fisheries of Japan about outbreaks of highly pathogenic H5N1 and H5 avian influenza in Bács-Kiskun County in Hungary and Chiba Prefecture in Japan respectively, the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the above-mentioned areas with immediate effect to protect public health in Hong Kong.     A CFS spokesman said that Hong Kong has currently established a protocol with Hungary for the import of poultry meat but not for poultry eggs. According to the Census and Statistics Department, Hong Kong imported about 40 tonnes of frozen poultry meat from Hungary, and about 1 170 tonnes of frozen poultry meat and about 150.45 million poultry eggs from Japan in the first six months of this year.     “The CFS has contacted the Hungarian and Japanese authorities over the issues and will closely monitor information issued by the World Organisation for Animal Health and the relevant authorities on the avian influenza outbreaks. Appropriate action will be taken in response to the development of the situation,” the spokesman said.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 15:02

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Tender results of 3-year HKD HKSAR Institutional Government Bonds

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

         The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender for 3-year HKD institutional Government Bonds (issue number 03GB2710001) under the Infrastructure Bond Programme was held today (October 23).
          
         A total of HK$5.5 billion 3-year Government Bonds were offered today. A total of HK$21.375 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 3.89. The average price accepted is 99.89, implying an annualised yield of 2.952 per cent.

    HKSAR Institutional Government Bonds Tender Results
    ———————————————————————————————-
         Tender results of 3-year HKD HKSAR Institutional Government Bonds:
     

    Tender Date
    :
    October 23, 2024

    Issue Number
    :
    03GB2710001

    Stock Code
    :
    4283 (HKGB 2.89 2710)

    Issue and Settlement Date
    :
    October 24, 2024

    Tenor
    :
    3 years

    Maturity Date
    :
    October 25, 2027

    Coupon Rate
    :
    2.89 per cent

    Amount Applied
    :
    HK$21.375 billion

    Amount Allotted
    :
    HK$5.5 billion

    Bid-to-Cover Ratio*
    :
    3.89

    Average Price Accepted (Yield)
    :
    99.89 (2.952 per cent)

    Lowest Price Accepted (Yield)
    :
    99.75 (3.000 per cent)

    Pro-rata Ratio
    :
    About 99 per cent

    Average Tender Price (Yield)
    :
    99.30 (3.160 per cent)

    * Calculated as the amount of bonds applied for over the amount of bonds issued.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Young persons in custody at Sha Tsui Correctional Institution attain good examination results (with photos)

    Source: Hong Kong Government special administrative region

         â€‹Young persons in custody (PICs) at Sha Tsui Correctional Institution (STCI) of the Correctional Services Department (CSD) were presented with certificates at a ceremony today (October 23) in recognition of their efforts and achievements in studies and vocational examinations.
          
         Over the past year, 97 PICs participated in various academic and vocational examinations, including the Hong Kong Diploma of Secondary Education Examination, the City and Guilds International examinations, the Cambridge English Examinations and the General Aptitude Putonghua Shuiping Kaoshi. They obtained vocational certificates in areas such as Food and Beverage Services, Coffee Making and Latte Art Training, Specialty Drink (Non-alcoholic) Making, Cantonese Cooking, Multimedia Design, Music, Building Services and Laundry Skills. These examinations were organised by the Society of Rehabilitation and Crime Prevention, Hong Kong; the School of Professional and Continuing Education, the University of Hong Kong; Christian Action; the Construction Industry Council; Tom Lee Music Foundation; the Vocational Training Council and Caritas Institute of Community Education. During the year, the PICs attained 127 merits out of 302 certificates obtained. In the ceremony today, 22 PICs were presented with 135 certificates, of which 76 were marked with merits.
          
         Officiating at the ceremony, the President of the Hong Kong Shanxi Union Community Limited (HKSUCL), Mr Ng Tang, said that the HKSUCL has been highly supportive of the rehabilitation work of the CSD, and has set up the HKSUCL – Igniting Hope Education Fund to provide education and vocational training subsidies to PICs with financial difficulties to enable further studies. He encouraged the young PICs to strive for self-improvement, and to walk hand in hand with their families and CSD staff on the path of rehabilitation to live a fulfilling life.
          
         During the ceremony, members of the lion dance team performed with accompaniment by a marching band. Moreover, PICs put their training into practice and produced a short video by using shooting and editing skills acquired in the Creative Multimedia Production Technology Training Course to showcase their learning outcomes at the ceremony. There was also a singing and musical instrument performance by PICs, with piano accompaniment by CSD staff, to demonstrate their determination to change.
          
         In the sharing session, one young PIC expressed gratitude to his mother for taking good care of him on her own and her unwavering support during his time in custody, which inspired him to reflect on his past mistakes and make good use of his time to study diligently. Two other young PICs also expressed appreciation for the encouragement and guidance from CSD staff, who helped them mend relationships with family members and learn valuable skills in a band. They hope to apply what they have learnt to contribute to society in the future.
          
         Also attending today’s certificate presentation ceremony were representatives from non-governmental and community organisations, community leaders and family members of the certificate recipients.
          
         STCI accommodates young male PICs aged from 14 to under 25. The Department provides half-day education programmes and half-day vocational training for PICs of training centres and rehabilitation centres to assist them to rehabilitate and prepare for reintegration into society.         

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ5: Supporting high-risk elderly persons

    Source: Hong Kong Government special administrative region

    LCQ5: Supporting high-risk elderly persons
    LCQ5: Supporting high-risk elderly persons
    ******************************************

         Following is a question by the Hon Tang Ka-piu and a reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (October 23): Question:      It has been reported that elderly-related tragedies have happened in Hong Kong one after another this year, resulting in a rise in the community’s concerns over families of elderly doubletons featuring “the elderly taking care of the elderly” as well as families of elderly singletons featuring the “hidden elderly”. On the other hand, the Labour and Welfare Bureau has indicated that the Government will study the establishment of a databank on high-risk cases, and it is learnt that some labour unions have repeatedly proposed the establishment of a register of high-risk elderly persons. In this connection, will the Government inform this Council: (1) whether it has devised a timetable for the establishment of a register of high-risk elderly persons; if so, of the details, including the time for establishing the register and the interval between each update; if not, the reasons for that; (2) whether it has grasped the situation among the elderly in respect of the installation of indoor emergency alarm systems (EAS) at homes, and whether it has plans to install EAS for high-risk elderly persons free of charge; if so, of the details; if not, the reasons for that; and (3) as it is learnt that about 80 per cent of the elderly in Hong Kong have applied for various social security schemes and that health condition assessments would also be conducted for the elderly under the Government’s Standardised Care Need Assessment Mechanism for Elderly Services, whether the Government has consolidated the data of elderly applicants for various schemes in order to identify the families of elderly doubletons and elderly singletons as well as conduct standardised assessments for such families with a view to establishing a register of high-risk elderly persons for high-risk families; if so, of the details; if not, the reasons for that? Reply: President,      I reply to the Member’s question as follows: (1) and (3) There is no unified definition of “high-risk” elderly persons. Health conditions, living arrangements, changes in family support, etc, will affect risks faced by elderly persons. Relevant risks may also change over time. The Government approaches and identifies elderly persons in need through different means, with a view to providing timely assistance to them.      The Social Welfare Department (SWD) piloted the District Services and Community Care Teams – Scheme on Supporting Elderly and Carers in Tsuen Wan and Southern District in March this year. The SWD assisted in training the Care Teams of these two districts to proactively reach out to and identify households of singleton/doubleton elderly persons, carers of elderly persons and persons with disabilities in need. In the past six months, the Care Teams visited about 4 700 families and referred over 730 elderly cases to social welfare organisations for follow up. The 2024 Policy Address announced that the Government would extend the scheme to all 18 districts across the territory next year.      The SWD commissioned the Tung Wah Group of Hospitals in September 2023 to launch the 24-hour Designated Hotline for Carer Support, providing instant consultation and emotional support, outreaching/emergency support, service referrals, etc. The hotline has received over 50 000 calls so far, and referred about 850 cases to relevant community support service units for service matching as appropriate, of which about 270 elderly cases were referred to elderly service units or respite service. In addition, the hotline provided crisis handling for 56 cases through outreaching.      A total of 214 District Elderly Community Centres (DECCs) and Neighbourhood Elderly Centres (elderly centres) throughout the territory provide a wide range of support services to elderly persons at the district level. Support Teams for the Elderly (STEs) are set up in all DECCs to identify elderly persons with potential service needs through outreaching and networking, and provide suitable assistance to them. Elderly centres have about 280 000 members in total, including 47 000 elderly persons receiving services from STEs and 8 000 elderly persons receiving casework service.       Upon identifying elderly persons with potential service needs, social welfare units will arrange for them to undergo Standardised Care Need Assessment for Elderly Services according to their conditions. Frail elderly persons assessed as having long-term care needs can join the Central Waiting List for Subsidised Long Term Care Services. They may also apply for Community Care Service Voucher for the Elderly and receive subsidised community care services without queuing; elderly persons with lower impairment level can apply for subsidised Home Support Services. In addition, social welfare service units will assist elderly persons with financial needs applying for suitable cash assistance.       The Government will continue to make good use of different channels to early identify elderly persons with potential service needs and provide timely and effective support. (2) The Government has put in place different measures to subsidise elderly persons in need to install emergency alarm system (EAS). The SWD provides a special grant to eligible elderly Comprehensive Social Security Assistance recipients for installing and using indoor or mobile EAS. Currently, about 26 000 elderly persons are receiving such a grant. The Hong Kong Housing Authority and the Hong Kong Housing Society provide subsidies to eligible elderly households in their housing estates to install and use EAS, benefiting about 26 900 elderly persons in total. Care Teams will also refer elderly persons, persons with disabilities and their carers in need to the relevant service provider for installing and using EAS.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 15:15

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    MIL OSI Asia Pacific News –

  • MIL-OSI: NXP’s Advanced Trimension UWB Portfolio Hits the Road with Audi

    Source: GlobeNewswire (MIL-OSI)

    • NXP’s Trimension NCJ29Dx family of Ultra-Wideband (UWB) fine-ranging ICs is deployed by Audi AG to enhance smart, hands-free secure car access functionality for the OEM’s new Premium Platform Electric (PPE)
    • The Trimension NCJ29Dx family is designed to deliver the robust, precise and secure ranging and connectivity required to meet the needs of global automotive OEMs to implement smart, secure access, as standardized by the Car Connectivity Consortium (CCC)
    • Audi’s PPE, jointly developed with Porsche, is the base for the company’s next generation of electric vehicles

    EINDHOVEN, The Netherlands, Oct. 23, 2024 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that its Trimension® NCJ29Dx family, part of one of the industry’s broadest UWB portfolios, is the technology foundation for Audi’s advanced new UWB platform, delivering the precise and secure real-time localization required by leading premium car manufacturers to enable hands-free secure car access via smart mobile device and other UWB-based features. Cars featuring NXP’s Trimension UWB devices, including the Audi Q6 e-tron, will hit the road in 2024.

    Smart, secure car access leverages the fine-ranging capabilities of NXP’s extensive Trimension UWB portfolio to precisely identify the location of the driver in relation to the car, allowing the doors to be unlocked only when the driver is in close proximity to the car. Drivers can unlock and start their car hands-free using a digital key on a UWB-enabled mobile phone or wearable, which can remain in the driver’s pocket or bag.

    “Audi has long been on the leading edge of automotive technology, and this new UWB-enabled platform is no exception,” said Ulf Warschat, Head of Development Body Electronics, Audi AG. “The precise and secure real-time localization delivered by NXP’s Trimension UWB portfolio ensures that our drivers will benefit from the advanced features and capabilities, allowing them to enjoy the driving experience in a whole new way.”

    “NXP’s proven Trimension UWB platform enables OEMs to deliver new features for drivers, allowing secure and easy hands-free access to their cars, as well as supporting a variety of additional use cases like automated EV charging and more,” said Markus Staeblein, Senior Vice President and General Manager, Secure Car Access, NXP Semiconductors. “Building on our expertise and standardization efforts in bodies such as the Car Connectivity Consortium (CCC) and the FiRa Consortium, UWB will continue to drive new enhancements to the consumer automotive experience and is quickly becoming an essential component in the automotive ecosystem.”

    The Trimension NCJ29Dx family is part of NXP’s portfolio of secure car access system solutions, which includes the NCF3340 NFC controller and the KW37 Bluetooth 5.0 Long-Range MCU. These devices are also in use by Audi as part of its new platform.

    The Trimension NCJ29Dx family enables UWB-based fine-ranging capabilities and is compliant to IEEE 802.15.4, CCC and FiRa standardization. It delivers high localization resolution and power optimization for battery-powered devices such as key fobs, while also minimizing BOM costs. Additionally, it offers maximum levels of protection against car theft through relay attacks and includes on-chip support for a wide range of cryptographic operations.

    The Trimension NCJ29Dx family is part of one of the industry’s broadest UWB portfolios, which features devices suitable for both automotive and mobile, IoT or industrial applications. This includes devices like the Trimension NCJ29D6, which integrates UWB fine ranging with UWB radar capabilities to allow OEMs to address multiple use cases with a single system, including smart, secure car access, child presence detection, intrusion alert, kick sensing and more.

    About NXP Semiconductors
    NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $13.28 billion in 2023. Find out more at http://www.nxp.com.

    NXP, Trimension and the NXP logo are trademarks of NXP B.V. All other product or service names are the property of their respective owners. All rights reserved. © 2024 NXP B.V

    For more information, please contact:

    Americas & Europe Greater China / Asia 
    Phoebe Francis            Ming Yue
    Tel: +1 737-274-8177 Tel: +86 21 2205 2690
    Email: phoebe.francis@nxp.com Email: ming.yue@nxp.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9a2b8d95-fb90-4615-a0ba-cfe7fb29d378

    The MIL Network –

  • MIL-OSI Economics: ADB Approves $86.67 Million Grant to Develop Green Road Corridor in Tajikistan

    Source: Asia Development Bank

    DUSHANBE, TAJIKISTAN (23 October 2024) — The Asian Development Bank (ADB) has approved a $86.67 million grant to help Tajikistan further improve national road connectivity by developing a demonstration green corridor in the country.

    The project will upgrade the existing degraded two lane 49-kilometer Dangara–Guliston road, widening this to four lanes. The project is the first to pilot the innovative methods promoted in the ADB green roads toolkit.

    “ADB, in partnership with other organizations, promotes safe, accessible, and green transport infrastructure and services in our developing member countries,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “The Dangara–Guliston road, which was constructed in the 1930s and reconstructed in the 1970s, will become the first road in Tajikistan to incorporate climate adaptation and specific design elements that account for women and girls.”

    Applying the green roads toolkit to the road design improves the quality of life for those living in the vicinity of the road; strengthens road network climate resilience and disaster preparedness; reduces pollution; and conserves biodiversity. While a lack of electric vehicle chargers in rural areas limits the potential growth of this market in Tajikistan, the project will fund two pilot charging stations and develop investment frameworks to catalyze private sector investment in a national charging infrastructure rollout.

    To enhance safety, the newly reconstructed road will include dedicated cycleways and sidewalks for women with children and people with disabilities. It will also have improved lighting, as well as safe and well-marked crossings—with the design and location of safety features determined through a community co-design process. Special toilets and changing facilities will be provided for travelling mothers and babies, while public transport facilities will include preferential seating for people with disabilities.

    To improve livelihood and employment opportunities for local villagers, the project will arrange training for women living in and around the project area on how to open and run small businesses. ADB’s project will also award entrepreneurship grants to selected participants.

    The Government of Tajikistan will provide counterpart funding of $23 million, while the European Bank for Reconstruction and Development (EBRD) will provide a $40 million cofinancing loan subject to the EBRD Board approval in early 2025. The Ministry of Transport will be the executing agency for the project, which is due to be completed in 2030.

    Developed in collaboration with the International Road Federation and MetaMeta Research, ADB’s green roads toolkit guides the planning, design, construction, and maintenance of roads while ensuring environmentally sustainable practices. The toolkit helps engineers, planners, decision makers, and practitioners balance economic, social, and environmental objectives to make roads in Asia and the Pacific greener.

    Tajikistan joined ADB in 1998. For 26 years, ADB has supported a wide range of sectors from strategic road and energy infrastructure to health, education, agriculture, urban development, public sector management, and finance for a total of over $2.7 billion in assistance—including over $2.2 billion in grants.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI Economics: Asian Development Blog: How Strengthened Regulations and Healthcare Can Prevent Lead Poisoning

    Source: Asia Development Bank

    Lead exposure remains a significant public health threat in Asia and the Pacific, especially in low- and middle-income countries. The global effort to address lead poisoning must focus on stricter regulations, enhanced healthcare capacity, and coordinated international action to protect vulnerable populations.

    The harmful effects of lead poisoning have been well-established since ancient times, with the First Century Roman writer Vitruvius warning of the health hazards of the widely-used metal. Today, we know that “there is almost no function in the human body which is not affected by lead toxicity.” 

    Lead exposure increases deaths from cardiovascular diseases among adults, particularly in low and middle-income countries. The long-term storage of lead in bones can lead to a wide range of health effects, including high blood pressure and renal failure.

    For pregnant women and their babies, lead exposure is particularly devastating—it can cross the placental barrier, causing complications of pregnancy, miscarriages, stillbirths, and low birth weight. 

    In children, lead exposure has long-term and irreversible impacts on mental function reducing educational performance and employment opportunities. Together, these health consequences for individuals compromise the economic growth and social stability of entire countries.

    While high income countries have significantly reduced lead exposure through rigorous testing, targeted research, and robust policy interventions, low- and middle-income countries, including several in Asia and the Pacific, continue to grapple with dangerously high levels of lead exposure. 

    An estimated 95% of the world’s IQ loss and 90% of cardiovascular deaths from exposure to lead is in low and middle-income countries, according to a 2023 study. The economic costs of lead exposure are staggering, with losses in total GDP of 10.5% in East Asia and the Pacific, 9.1% in South Asia, and 8.9% in Sub-Saharan Africa. 

    With effective interventions, high-income countries have reduced this economic impact of lead exposure to losses of 5.0% of total GDP but have not yet eliminated all sources of lead exposure.

    The scale of the challenge is immense. Lead exposure causes three times as many deaths as exposure to unsafe water and sanitation and just as many deaths as air pollution. South Asia has some of the highest blood lead levels in the world with India alone home to 275 million children affected by lead poisoning —this amounts to half of all India’s children and one-third of the children affected by lead globally. 

    Bangladesh struggles with chronic lead exposure, largely due to contaminated spices, while Afghanistan faces a “silent epidemic” linked to lead-leaching cookware. 

    In the Philippines, 2021-2022 data from the Expanded National Nutrition Survey shows that over a million Filipino children ages 6-9 years have elevated blood lead levels. In Indonesia, more than 8 million children are estimated to have high blood lead levels with millions more at risk from lead paint covering homes and public facilities.  

    Across Asia and the Pacific, the informal recycling of used lead-acid batteries continues to poison communities, contaminating air, soil, and water.

    The different sources of lead exposure complicate the challenge to remove the problem, however, the scope of the health and socioeconomic damage from lead demands decisive and comprehensive action. But we are not starting from zero. 

    The evidence base is robust, and the solutions are within reach. What remains is the political will and coordinated action across sectors to implement them effectively. The recent launch of the Partnership for a Lead-Free Future at the United Nations General Assembly marks a watershed moment in the global fight against lead poisoning.

    Exposure to lead is one of the most preventable public health threats, and yet it remains a pervasive environmental poison.

    Health systems are at the forefront of the response toward a lead-free future. 

    Developing countries must strengthen health regulatory frameworks and enforce existing standards for lead content in products such as food, cosmetics, paints, and water. Inconsistent enforcement has been a major barrier in reducing exposure, and this must be addressed with urgency. 

    Stronger regulatory oversight and harsher penalties for non-compliance will be key, particularly in industries known for high lead usage. International development partners, through technical advice and policy-based lending, can play a pivotal role in incentivizing reforms and ensuring their effective implementation.

    Building healthcare capacity is crucial. Healthcare professionals have low knowledge of the symptoms of lead poisoning, such as irritability and lethargy in mild doses and tremors and other neuropathies in higher doses. 

    Training is needed so that health workers identify lead poisoning and provide timely referrals for treatment. Developing the necessary healthcare infrastructure—from rural clinics to urban hospitals—is fundamental to ensuring that testing, treatment, and prevention measures can be implemented from communities, primary care facilities to hospitals. 

    Health actions should support the establishment of systematic, large-scale testing and data collection systems. Reliable data plays an essential role in understanding the full scope of lead exposure and to inform targeted interventions. Alongside quantitative measurements, the use of qualitative and ethnographic data is invaluable tool to understand how and why lead-contaminated products are used – and who is exposed to them.

    Public awareness is critical. Surveys reveal that knowledge about the dangers of lead exposure is shockingly low. Large-scale educational and health promotion campaigns must be launched to raise awareness of the sources and effects of lead poisoning, particularly in communities most at risk.

    While the health sector has a role in addressing lead poisoning, whatever the source, the scale and complexity of the problem demands coordinated action well beyond a single sector. 

    Governments, civil society, multilateral institutions, development agencies and the private sector must all come together to share resources, knowledge, and best practices. Only through collaboration can we hope to reduce and ultimately eliminate lead from our environment. The launch of the Partnership for a Lead-Free Future is a vital step in bringing stakeholders together. 

    Exposure to lead is one of the most preventable public health threats, and yet it remains a pervasive environmental poison. The science is clear; the solutions are known. A lead-free future is not just a possibility—it is a necessity. 

    By acting now, we can safeguard the health and potential of millions of children, secure the economic and social well-being of developing countries, and ensure a healthier, brighter Asia and Pacific for generations to come.
     

    MIL OSI Economics –