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HONG KONG SAR - Media OutReach Newswire - 18 October 2024 - Promoting high-quality development and expanding Hong Kong's capacity for economic growth are core elements of the 2024 Policy Address, announced (October 16) by John Lee, Chief Executive of the Hong Kong Special Administrative Region. "Hong Kong is striving to become an international innovation and technology (I&T) centre by promoting the upgrading and transformation of traditional industries while actively nurturing emerging ones," Mr Lee said. "We will spare no effort in developing new quality productive forces tailored to local conditions." Hong Kong SAR's Chief Executive John Lee attended a radio phone-in programme to answer questions about the 2024 Policy Address. Mr Lee said the Government would establish the third InnoHK research cluster, which will focus on advanced manufacturing, materials, energy and sustainable development. In particular, the Government will set up a research centre under the InnoHK research cluster to participate in the Chang'E-8 space mission, contributing to national aerospace development. Moreover, a new round of Research Matching Grant Scheme funding totalling HK$1.5 billion will also be launched to attract more organisations to support research endeavours of institutions. The Chief Executive also revealed a number of measures that the Government would adopt to revamp its approach to boosting capital investment in I&T industries. These include setting up a HK$10 billion I&T Industry‑Oriented Fund, forming a fund-of-funds to channel more market capital to invest in specified emerging and future industries of strategic importance; and optimising the Innovation and Technology Venture Fund by redeploying HK$1.5 billion to set up funds jointly with the market to invest in start‑ups of strategic industries. The Government will also launch an I&T Accelerator Pilot Scheme, with a funding allocation of HK$180 million, to attract professional start-up service providers to set up accelerator bases in Hong Kong, fostering the robust growth of start-ups. Meanwhile, the Government will establish the Working Group on Developing Low‑altitude Economy, to explore the emerging potential of economic activities in airspace below 1,000 metres. "We will press ahead with pilot projects and designate venues to explore deploying drones for delivery, surveys, building maintenance, aerial photography, performances, search and rescue, and other possibilities," Mr Lee said. On new energy, the Government will earmark around HK$750 million under the New Energy Transport Fund to subsidise the taxi trade and franchised bus companies to purchase electric vehicles, and launch the Subsidy Scheme for Trials of Hydrogen Fuel Cell Electric Heavy Vehicles. Developing new quality development productive forces is one of the core elements of the 2024 Policy Address. To foster new quality productive forces in biomedical technology, the Government will complement technological innovation with institutional innovation, developing Hong Kong into an international health and medical innovation hub. Initiatives include expediting reform of the approval mechanism for drugs and medical devices, including extending the "1+" mechanism to all new drugs for use in Hong Kong. Under the new "1+" drugs registration mechanism, applications for registration of new drugs that are supported with local clinical data are only required to submit approval from one reference drug regulatory authority (instead of two originally). "Education nurtures our future, technology denotes our strength, and talents lead our development," Mr Lee said, adding that the Government will set up a Committee on Education, Technology and Talents to co-ordinate and drive the integrated development of education, technology and talents. The Chief Executive also announced reforming various talent admission mechanisms, including expanding to 198 the number of universities under the Top Talent Pass Scheme list, and extending the validity period of the first visa of high-income talents from two to three years. He supplemented that the Government would extend the pilot arrangement, for two years, for graduates from the Greater Bay Area campuses of Hong Kong universities to work in Hong Kong. To expand capacity and inject impetus into Hong Kong's high-quality development, Mr Lee said the Government would take forward development of the Northern Metropolis as a new engine for economic development. He added that a Government-led company would be established to formulate development and operation strategies for building a pilot industrial park. To expedite development of the Northern Metropolis, the Government will adopt, on a pilot basis, a large‑scale land‑disposal approach, under which sizable land parcels with commercial value and earmarked for provision of community facilities will be selected and granted to successful bidders for collective development. "I believe that we must maintain our development momentum and self‑renewal, and that we must embrace changes while staying principled, innovative and flexible in meeting challenges and opportunities," Mr Lee said. More information about the Policy Address is available from www.policyaddress.gov.hk. Hashtag: #hongkong #brandhongkong #policyaddresshttps://www.brandhk.gov.hk/https://www.linkedin.com/company/brand-hong-kong/https://x.com/Brand_HK/https://www.facebook.com/brandhk.isdhttps://www.instagram.com/brandhongkongThe issuer is solely responsible for the content of this announcement.
HONG KONG, Oct. 17, 2024 /PRNewswire/ -- FIT Hon Teng (6088-HK), a subsidiary of Hon Hai Precision Industry (2317-TW), will unveil its latest advancements in AI data center connectivity and immersion-cooling technologies at the upcoming 2024 OCP Global Summit. Hosted by the Open Compute Project (OCP), this prestigious event brings together global leaders in hardware infrastructure design, addressing the evolving demands of modern data centers. At the summit, FIT will introduce solutions that tackle critical challenges in AI-driven data centers, including signal degradation, heat dissipation, and large-scale manufacturing scalability. FIT's AI rack connectivity innovations are designed to enhance signal integrity and optimize data transmission, all while incorporating advanced cooling technologies for high-density AI workloads. Key product highlights include: 224G+ sockets for XPU/GPU connectivity Co-packaged copper and optical architectures Power cables for ORV3 Active Optical Cables (AOC) OSFP1600 and QSFP-DD port configurations These solutions underscore FIT's commitment to driving innovation in the AI data center space, building on Foxconn's extensive industrial internet expertise to offer cutting-edge AI connectivity solutions to global data center customers. In addition to its AI connectivity offerings, FIT will present its immersion-cooled IT platform solutions at the summit. Terry Little, Development Engineering Manager at FIT, will lead a session titled "Optimizing Signal Integrity in Immersion-Cooled IT Platforms." The session will delve into the effects of dielectric fluids on high-speed signal lines, the challenges of high-speed testing in such environments, and innovative connector fixture strategies. These solutions are critical for ensuring reliable performance in harsh, high-density computing environments, such as AI data centers. By addressing key issues such as performance, efficiency, and scalability, FIT continues to play a pivotal role in supporting the growth of AI infrastructure across industries, further solidifying its leadership in AI data center solutions. About Foxconn Interconnect Technology (FIT Hon Teng) Foxconn Interconnect Technology (HKEX: 6088) was listed on the Hong Kong Stock Exchange in 2017 and is the largest consumer electronics connector manufacturer in Greater China. While connectors remain its core business, the company has strategically expanded in recent years into 5G AIoT, electric vehicles, and acoustic electronic components, while also entering the consumer brand sector. For more information, please visit the company's website at www.fit-foxconn.com Media Contact: Product and Service Inquiries:Email: fit-ir@fit-foxconn.com Europe and America Contact: sales-usa@fit-foxconn.com
LAHORE, Pakistan, Oct. 17, 2024 /PRNewswire/ -- Aima, a leading Chinese electric two-wheeler brand, grandly opened its flagship store in Lahore, Pakistan. Important guests including IRFAN QADIR (CEO SIWA INDUSTRIES & Qadir Group of Companies), Imran Qadir (MD SIWA INDUSTRIES), and some good dealers, along with journalists from multiple mainstream media outlets, attended the opening ceremony. The opening ceremony also invited well-known local internet opinion leaders such as Bike Mate PK, TALOOT ARTS, and Pak Vloggers. At the ceremony, Aima presented an electric vehicle to Nadeem Arshad, the Pakistani athlete who won the gold medal in the men's javelin throw at the Paris Olympics, which sparked widespread attention and discussion on local social media. The opening of this Aima Electric Vehicle flagship store, located at Building No. 596 A Block, Faisal town, Mulana Shaukat Ali Road Lahore, marks a significant step forward in Aima's global strategy. Over the years, Aima electric vehicles have frequently appeared at top overseas auto shows, and the company has gradually established overseas branches, overseas factories, and plans to establish overseas R&D centers. By actively localizing its operations, conducting in-depth research on local laws, regulations and user habits, and through technological innovation to further improve the technology and safety of its exported products, Aima is steadily and confidently expanding its global market presence. In recent years, bilateral practical cooperation between China and Pakistan has steadily progressed, and high-quality joint construction of the China-Pakistan Economic Corridor has yielded fruitful results. As a highly flexible new energy carrier, electric two-wheelers have played an increasingly important role in the global development of the clean energy industry. Aima's successful entry into Pakistan further demonstrates the strength and influence of China's green technology travel, positively empowering the China-Pakistan Economic Corridor, a flagship project of the Belt and Road Initiative, with green economy. In the future, as more Aima electric vehicle specialty stores open, Aima is expected to play a more important role in the development of Pakistan's clean energy industry, driving energy cooperation of the China-Pakistan Economic Corridor deep into the "capillaries" of Pakistani society and people's livelihood. Under the framework of the Belt and Road Initiative, with green travel as a lever, Aima will help Pakistan grasp more sustainable development opportunities in the field of clean energy. Hand in hand, China and Pakistan are striving for a cleaner and more promising future.
MARii, MIDA and EVAM are co-hosting the EV Conference 2024 KUALA LUMPUR, Malaysia, Oct. 15, 2024 /PRNewswire/ -- Following a successful debut last year, E-Mobility Asia (EMA) is set to return from 12 to 14 November 2024 with a comprehensive showcase of green transport solutions and business opportunities as electric vehicle (EV) demand surges in ASEAN. E-MOBILITY ASIA (EMA) 2024 RETURNS NOV 12 - 14 AS ASEAN DEMAND RISES The three-day event presents riveting insights into the trends and opportunities shaping sustainable mobility in the region in tune with its theme "Electrifying the Future: Transitioning Innovations Towards Mobility" at the Kuala Lumpur Convention Centre. EMA 2024 is co-located with Sustainability Environment Asia (SEA), both organised by Derrisen Sdn Bhd, to advocate greater sustainability and synergy. The two events bring together 100 international exhibitors from six countries and regions and over 12,000 trade visitors are anticipated. EMA will provide a platform for businesses to showcase latest advancements and solutions including battery technology, charging infrastructure, digital mobility providers and automotive OEMs. Delegations from India, Indonesia, Japan, Philippines, Singapore, South Korea, Taiwan region, Thailand are expected to attend the show and join the Networking Night on the second day. Over 60 speakers will feature in the show's conference programme and technical sessions in partnership with local and international supporting organisations from ASEAN as well as exhibitors. As EMA Strategic Partners and Supporting Agency, Malaysia Automotive, Robotics & IoT Institute (MARii), Malaysian Investment Development Authority (MIDA) and Electric Vehicle Association of Malaysia (EVAM) will organise the EV Conference 2024 on 12 to 13 November. The conference will focus on accelerating EV adoption and growth, evolving charging infrastructure and landscape, advancing sustainability through battery management and futuristic ways and opportunities in ASEAN's EV markets, among others. "As the Strategic Partner for EMA 2024, MARii reaffirms its commitment to advancing technology and promoting sustainable growth in Malaysia's automotive sector. This event marks a key milestone in Malaysia's EV ecosystem, supporting the National Automotive Policy 2020's goal of positioning Malaysia as a top regional hub for assembling Next Generation Vehicles (NxGV), including Electric Vehicles (EVs). With rising EV demand in ASEAN, EMA 2024 is set to attract more international participants, speakers, and buyers, further solidifying Malaysia's role as an ASEAN automotive hub," said Mr. Azrul Reza Aziz, CEO of MARii. "EMA 2024 is a pivotal event fostering growth in Malaysia's EV industry, promoting sustainable mobility and collaboration. By uniting industry leaders, stakeholders, and policymakers, we can advance cleaner, electrified transportation for an eco-friendlier Malaysia," said Dato' Dennis Chuah, President of EVAM. The continued backing of the Asian Federation of Electric Vehicle Associations (AFEVA) and its regional EV associations from Indonesia, Philippines, Singapore and Thailand as Supporting Associations will generate extensive networking and invaluable knowledge exchange on the policies and progress of the industry in the region. The ASEAN market is forecast to reach US$2.7 billion by 2027 from US$500 million in 2021. Sales of EVs in Vietnam, Thailand, Indonesia, Malaysia, Philippines and Singapore grew by four times in 2023 and more than doubled in the January-March quarter this year from the same period last year. Malaysia aims to be an EV hub and has targeted electrification as a key lever of its energy transition roadmap to decarbonise greenhouse gas emissions. Public transport is envisaged to be 60 percent green and EVs to comprise 80 percent of car sales by 2050. "E-mobility is poised for more growth and it will be big in ASEAN because decarbonising is crucial for the governments in the region to meet their climate goals and foster a sustainable future for their own economic growth, transport and quality of life. EMA is excited to play a role in this green transformation eco-system and make an impact along with the many industry organisations which have come forward to support EMA 2024," said Ms. Vicky Tan, Project Director at Derrisen. EMA 2024 is endorsed by the Ministry of Investment, Trade and Industry (MITI) and its agency, Malaysia External Trade Development Corporation (MATRADE), which offers enhanced tax incentives and double tax deductions for export promotion. (For more information, please visit www.matrade.gov.my) Strategic Partners: Malaysia Automotive, Robotics & IoT Institute (MARii) and Electric Vehicle Association of Malaysia (EVAM) Supporting Agencies: Malaysian Technology Development Corporation (MTDC), Malaysian Investment Development Authority (MIDA) International Supporting Associations: Asian Federation of Electric Vehicle Associations (AFEVA), Electric Vehicle Association of the Philippines (EVAP), Electric Vehicle Association of Singapore (EVAS), Electric Vehicle Association of Thailand (EVAT), Indonesian Electric Vehicle Industry Association (PERIKLINDO), Korea Automotive Industry Globalization Foundation (AinGlobal), and Taiwan Automotive Electrical Parts Association (TAEPA) Local Supporting Associations: ESG Association of Malaysia (ESGAM), Malaysia Automotive Recyclers Association (MAARA), Malaysia Automation Technology Association (MATA), Malaysian Electric Vehicle Owners Club (MyEVOC), Small and Medium Enterprises Association (SAMENTA), The Electrical and Electronics Association of Malaysia (TEEAM), and The Selangor and Federal Territory Engineering and Motor Parts Traders Association (EMPTA) For exhibition opportunities and visitor registration, visit https://emobilityasia.com/ Notes to Editors Derrisen is a specialist in delivering impactful trade events and conferences for businesses and industries to create sustainable high performance and growth. We bring you a deeply passionate and experienced team of organisers to deliver leading industry and lifestyle portfolios in Southeast Asia to help our clients achieve their business goals and shared purpose of building positive relationships for long-term success.
Singapore drivers offered unprecedented engine protection amid new CCCS guidelines SINGAPORE, Oct. 16, 2024 /PRNewswire/ -- In a significant advancement for consumer automotive care, 1 Car Service Workshop announces the launch of 'Engine Shield', a free lifetime engine warranty programme providing coverage up to 20 years of a vehicle's age with unlimited mileage. This initiative offers Singapore drivers long-term reliability and peace of mind in vehicle maintenance and is limited to the first 200 customers. The frontage of 1 Car Service Workshop, featuring a variety of luxury and continental car models. As **Singapore’s top-rated car repair workshop**, we specialise in **gearbox overhauls, engine overhauls, car air conditioning repairs, hybrid battery repairs, mechatronic repairs, ECU repairs**, and more. Trusted by owners of brands like Bentley, Porsche, Mercedes-Benz, BMW, and Audi, we deliver high-quality, reliable service to keep every vehicle performing at its best. Applicable to cars currently below 12 years of age—including both used cars without existing warranties and newer cars still under dealer warranties—the Engine Shield programme requires customers to purchase a S$1,000 servicing credit, which includes an additional S$100 bonus credit. Regular servicing at 1 Car Service Workshop is necessary to maintain warranty coverage. "We have always been committed to providing extended warranties on our repair works, such as our two-year warranty for gearbox overhauls," said Mr Teng, founder and managing director of 1 Car Service Workshop. "With Engine Shield, we're extending that assurance to routine servicing, offering additional engine protection at no extra cost to our customers." Empowering Consumers in Line with CCCS Guidelines The launch of Engine Shield aligns with recent directives from the Competition and Consumer Commission of Singapore (CCCS), which require authorised car dealers to remove warranty restrictions that compel customers to service their vehicles exclusively at authorised workshops. These restrictions were deemed anti-competitive and limiting to consumer choice. Mr Teng commented: "The CCCS has made it clear that consumers should have the freedom to choose where they service their cars without fear of losing warranty coverage. This freedom promotes competition and can lead to better services and prices for consumers." By adhering to these guidelines, car owners can now service their vehicles at independent workshops like 1 Car Service Workshop without voiding their dealer warranties. This allows them to benefit from both the dealer's warranty and the Engine Shield programme. Programme Details and Participation The Engine Shield programme offers lifetime engine protection up to 20 years of the vehicle's age. Owners can enrol their vehicles before they reach 12 years old; once enrolled, coverage continues until the vehicle is 20 years old, provided servicing requirements are met. Servicing Packages: Bentley Models: From S$438 Porsche Models: From S$318 Continental Models: From S$158 Asian Models: From S$118 How to Enrol: Make an appointment on their website https://1car.sg Undergo a complimentary vehicle inspection to ensure eligibility. Purchase the S$1,000 servicing credit, receiving an additional S$100 bonus credit, totalling S$1,100. Receive the warranty booklet detailing terms and conditions. Commit to regular servicing at 1 Car Service Workshop. Due to limited availability, interested car owners are encouraged to enrol promptly to secure their lifetime engine protection. From Investment Banking to Automotive Innovation Before founding 1 Car Service Workshop in 2016, Mr Teng built a successful career as an investment banker. Holding a Master's degree in Artificial Intelligence and double Bachelor's degrees in Business and Economics, he developed a strong foundation in analytical thinking and strategic planning. "My experience in finance and technology has been instrumental in shaping the Engine Shield programme," Mr Teng explained. "Understanding risk management and the importance of long-term value inspired me to create a warranty programme that truly benefits car owners. Engine Shield is designed to provide practical drivers with unparalleled engine protection while promoting transparency and trust in automotive services." By leveraging his background, Mr Teng has introduced innovative practices into the automotive industry, focusing on data-driven maintenance solutions and customer-centric services that set new standards for vehicle care. Commitment to Quality and Transparency 1 Car Service Workshop is recognised as one of Singapore's top-rated car repair workshops, with over 800 five-star reviews on major platforms such as Google and Facebook. The workshop's extensive technical expertise enables it to resolve a wide range of complex technical, mechanical, and electrical issues. Mr Teng emphasised the importance of proper vehicle servicing, noting that inadequate maintenance can lead to severe engine damage. Some workshops may skip essential steps or use substandard engine oils and filters, leaving consumers vulnerable to costly repairs. "We prioritise thoroughness and quality in our services," he said. "Engine Shield provides motorists with assurance regarding the care their vehicle receives, helping to prevent issues caused by substandard servicing." Future Plans Moving forward, 1 Car Service Workshop is actively pursuing authorisation from major insurance companies to become an approved repair workshop. The company's key strength lies in its ability to repair major damage with a short turnaround time, particularly for high-end luxury vehicles where parts are harder to source and require specialised technical expertise. With proficiency in electronic control module repairs and programming, the workshop can address complex technical issues, which is especially critical for electric vehicles (EVs). This expertise allows car owners to get back on the road sooner, while insurers benefit from reduced repair costs. Furthermore, 1 Car Service Workshop plans to extend its Engine Shield coverage to all major accident repairs handled under insurance claims, offering car owners additional peace of mind. Exclusions and Transparency While Engine Shield offers extensive coverage, certain exclusions apply to maintain ethical standards and clarity: Engine damage due to external impact, such as accidents. Damage from driving with insufficient engine oil, particularly if caused by an unaddressed oil leak. Engine damage resulting from persistent driving despite engine temperature warnings or overheating. Faults arising from the original manufacturer's design limitations. Pre-existing conditions or damage to the engine identified during the initial inspection. Customers will receive a comprehensive warranty booklet outlining all terms and conditions. About 1 Car Service Workshop 1 Car Service Workshop is one of Singapore's top-rated car repair workshops, renowned for its extensive technical expertise in resolving complex technical, mechanical, and electrical issues. Established in 2016, the workshop offers comprehensive maintenance and repair services for various vehicles, including luxury brands such as Bentley, Porsche, Mercedes-Benz, BMW, and Audi. Specialising in services like gearbox overhauls, engine overhauls, car aircon repairs, hybrid battery repairs, mechatronic repairs, and more, 1 Car Service Workshop is dedicated to providing high-quality, reliable, and efficient vehicle care. With a focus on quality, transparency, and customer satisfaction, the workshop ensures that every driver enjoys a stress-free and superior automotive service experience. Contact Information for Customers 1 Car Service Workshop Address: 160 Sin Ming Drive, #03-07, Sin Ming Autocity, Singapore 575722 Website: https://1car.sg Phone: 9857 8141 WhatsApp: https://wa.me/6598578141
HONG KONG SAR - Media OutReach Newswire - 15 October 2024 - As the U.S. presidential race heads into its final stages, VT Markets analysts have released a comprehensive study detailing the expected impacts on equity markets in the fourth quarter. The report examines shifts in various sectors, market reactions to political events, and strategies that traders and investors might consider. Shifts in Market Sentiments and Sectors According to VT Markets, the equity market experienced considerable volatility in the third quarter, influenced by uncertainty around the Federal Reserve's policies and the broader economic outlook. Tech stocks, which had surged on AI-driven growth, began to show signs of correction as traders realized profits. Despite strong earnings from tech leaders like Apple and Tesla, market sentiments remained cautious overall. However, September saw a resurgence in tech stocks due to renewed confidence in AI's long-term impact on productivity. Simultaneously, traditionally lagging sectors such as utilities, real estate, industrials, and materials experienced rapid gains, indicating a significant market rotation. The Presidential Election as a Market Catalyst The VT Markets report identifies the upcoming U.S. presidential election as a critical factor influencing market dynamics in the fourth quarter. The analysts note an unexpected twist in the Democratic campaign, with Kamala Harris stepping in as the nominee, which has intensified the competition against Donald Trump. Polls suggest a tight race, with Harris slightly leading Trump as of September. The analysts emphasize that key battleground states like Michigan, Pennsylvania, and Nevada are likely to decide the outcome, with Pennsylvania poised as a particularly unpredictable battleground. Candidates' Economic Policies and Market Implications The study outlines the economic policies proposed by both candidates, which could significantly impact various market sectors. Kamala Harris proposes raising corporate taxes to fund public initiatives and maintaining tax cuts for individuals earning under $400,000. [1] Donald Trump, conversely, aims to lower corporate taxes further and increase tariffs, especially on Chinese imports. [2] Immigration and energy policies also diverge sharply between the candidates, with Trump advocating for stringent measures against illegal immigration and favoring traditional energy subsidies.[2] Harris supports a legal pathway for undocumented immigrants and intends to invest heavily in renewable energy. [1] Strategic Implications for Investors VT Markets analysts suggest that the election results will play a crucial role in shaping investment strategies in Q4. A re-election for Trump could spur growth in fossil fuels, financials, defense, and cryptocurrency sectors. A victory for Harris, on the other hand, is likely to boost renewable energy, electric vehicles, and semiconductor industries. Despite the election's uncertain outcome, the analysts believe that AI-driven tech stocks will continue to offer robust investment opportunities, potentially propelling a broader market rally post-election. The VT Markets Analysis Report The VT Markets report provides a detailed analysis of how political developments, and the presidential election are expected to influence market trends and investor strategies in the upcoming quarter. With these insights, VT Markets aims to equip investors with the knowledge to navigate the anticipated market volatilities effectively. This analysis is based on current market conditions and political scenarios, which are subject to change. The projections and opinions expressed are intended to provide insight at a specific time and are given in good faith. No financial market prediction can offer a guarantee, and investors are encouraged to conduct their own research or consult with a financial advisor before making any investment decisions based on this report. [1] https://kamalaharris.com/ [2] https://www.donaldjtrump.com/ Hashtag: #VTMarkets #CFDs #CFDsbrokers #Forextrading #indices #FOMC #TradingThe issuer is solely responsible for the content of this announcement.
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Electric vehicles
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