Solid Business Growth Driven by Forward Looking Capacity Planning

Consolidate Industry Leadership Through Sustained Market Share Enhancement

HONG KONG, Aug. 24 /PRNewswire-Asia/ —

Financial Highlights

[...]]]> 2010-08-24 19:21

Solid Business Growth Driven by Forward Looking Capacity Planning

Consolidate Industry Leadership Through Sustained Market Share Enhancement

HONG KONG, Aug. 24 /PRNewswire-Asia/ —

Financial Highlights

For the six months ended 30 June
(HK$ in million)
2010 2009 Change (%)

Turnover 8,693 5,834 +49.0%
Gross profit 1,345 976
(Gross profit margin) (15.5%) (16.7%) +37.8%
Profit attributable to
shareholders 1,309 841
(Net profit margin) (15.1%) (14.4%) +55.7%
Diluted earnings per share HK$0.743 HK$0.545 +36.3%
Proposed interim dividend
per share HK$0.20 HK$0.15 +33.3%

China Yurun Food Group Limited (“Yurun Food” or the “Company”, and together with its subsidiaries, the “Group”; HKEx: 1068), a leading vertically-integrated meat-product processor and supplier in China, announced today its interim results for the six months ended 30 June 2010 (the “Period”).

During the Period, the Group recorded HK$8,693 million (1H2009: HK$5,834 million) in turnover, representing a 49% increase over the same period last year. The increase in turnover was mainly attributable to the Group’s anticipated production capacity expansion plans and brand building over the past years, as well as the prosperity of the Chinese consumer market during the Period, which further accelerated demand for branded quality meat products. As a result, the Group’s overall business recorded robust growth.

The Group’s gross profit and net profit reached HK$1,345 million (1H2009: HK$976 million) and HK$1,309 million (1H2009: HK$841 million) respectively during the Period, representing an increase of 37.8% and 55.7% respectively. The Group’s gross profit margin decreased 1.2 percentage points to 15.5%, as compared to 16.7% in the same period last year, and net profit margin increased 0.7 percentage point to 15.1% as compared to 14.4% in the same period last year. The slight decrease in gross margin was mainly attributable to the increase in the proportion of sales from the upstream segment, which has a relatively lower profit margin.

The board of directors of the Company has resolved to declare an interim dividend of HK$0.20 per share for the Period (1H2009: HK$0.15).

Mr. Zhu Yicai, Chairman of Yurun Food, said, “In the first half of 2010, domestic consumption in China continued to be promising, which provided great momentum to the development of the Chinese meat product market. In addition, with our nationwide capacity expansion and market strategy in recent years, the Group maintained a sustainable business growth. Moreover, to ensure the systematic development of the hog slaughtering industry in China, the Central Government has gradually implemented a series of favourable policies, with a purpose of consolidating the industry by eliminating outdated hog slaughtering capacity which are below safety and hygiene standards in the coming five years, leading to a systematic increase in sales proportion of chilled and small packaged pork products in the market. Given the rising awareness of the Central Government and consumers to food safety, the regulatory and operational environment is favourable to the sustainable development of Yurun Food. Opportunities arising from industry consolidation continued to further promote the Group’s sales and profitability of upstream branded chilled pork and downstream low temperature meat products (“LTMP”). Looking forward, the Group will continue to realize its strategic production capacity expansion plans, actively expand its distribution channels, and capture the tremendous business opportunities brought about by industry consolidation in order to continuously enhance the Group’s market share and shareholders’ returns.”

Business Review

The Group’s business is divided into downstream processed meat products and upstream chilled and frozen meat segments.

For the six months ended 30 June (HK$ in million)
Proportion to
Turnover Change Total Turnover
2010 2009 % 2010 2009

Upstream Chilled and
Frozen Meat, inter
alia:
– Chilled Pork 5,930 3,926 +51.1% 78.9% 82.0%
– Frozen Pork 1,590 863 +84.2% 21.1% 18.0%
– Segment Total 7,520 4,789 +57.0% 100% 100%
Downstream Processed
Meat Products,
inter alia:
– LTMP 1,747 1,536 +13.7% 93.8% 94.5%
– HTMP* 116 90 +28.0% 6.2% 5.5%
– Segment Total 1,863 1,626 +14.5% 100% 100%
Inter-segment
Elimination (690) (581) — — –
Total Revenue 8,693 5,834 +49.0% — –

*HTMP is defined as high temperature meat products.

For the six months ended 30 June
Gross Margin Change
2010 2009 Percentage Points

Upstream Chilled
and Frozen Meat,
inter alia:
– Chilled Pork 11.7% 11.9% -0.2 ppt
– Frozen Pork 6.6% 6.5% +0.1 ppt
– Overall 10.6% 10.9% -0.3 ppt
Downstream Processed Meat
Products, inter alia:
– LTMP 29.9% 28.4% +1.5 ppt
– HTMP 21.0% 20.5% +0.5 ppt
– Overall 29.4% 28.0% +1.4 ppt

Production Capacity

As at 30 June 2010, slaughtering capacity of the Group was 28.55 million heads per year, representing an increase of 3 million heads as compared to 25.55 million heads at the end of 2009, while the Group’s annual capacity of downstream meat processing was 283,000 tons, representing an increase of 5,000 tons as compared to that at the end of 2009. The Group will continue to systematically expand in the coming years, with focus on increasing market coverage, reducing bottlenecks and upgrading key production facilities.

Product Quality and R&D

Strict internal quality control procedures of international standards have been applied to processes ranging from procurement, production, and sales to logistics. Meanwhile, the Group continued to expand its R&D team and strengthen its research efforts, focusing on mid-to-high-end products and new competitive products, as well as to lead the trends of meat product consumption in order to gain competitive advantages.

Consolidation Opportunities Under New Industry Policy

With the stable and continuous rapid growth of the Chinese economy and broadening urbanization in China, the middle class are increasingly purchasing meat products from modern supermarkets as compared to traditional wet markets to ensure quality. Meanwhile, demand for mid-to-high-end branded meat products has been increasing correspondingly. The Group believes that, against the backdrop of abundant hog supply, the growing demand for meat products will continue to support the steady expansion of its overall business.

Furthermore, to ensure the systematic development of the hog slaughtering industry in China, the Central Government has gradually implemented a series of favorable regulations, such as the “Administrative Provision for Live Pig Slaughtering”, the “Food Safety Law” and the “Guideline For National Hog Slaughtering Industry Development (2010-2015)” (the “Guideline”). The Guideline, which was published in late 2009, aims to expand the scale of industry consolidation in the coming five years, leading to a systematic increase in the sales proportion of chilled and small packaged pork products in the market. Specifically, 30% of the outdated manual and semi-automated slaughtering plants will be eliminated by 2013 and further to 50% by 2015. Among them, about 80% of slaughtering plants in major cities and developed regions which are below hygienic standards will be eliminated. The mix of pork products will be further improved through expanding the scale of industry consolidation, which will change the current market position that supply of fresh meat surpasses that of chilled meat, gradually leading to increasing demand from consumers for modern meat products. The Guideline will be propitious for the future development of chilled meat and LTMP, the two core businesses of the Group, driving further development of Yurun Food.

Benefiting from the favourable market and regulatory environment, supported by a dynamic management team with proven track record, the Group aims to fully leverage the opportunity arising from the industry consolidation and further strengthen our advantages in brand recognition, nationwide production and marketing network.

About China Yurun Food Group Limited (HKEx Stock Code: 1068)

Leveraging on its vertically-integrated business model and strategically located production plants, Yurun Food is the leading meat-processor and meat products supplier in China. With its well-established food brands, state-of-the-art production facilities and diversified distribution channels, Yurun Food has achieved a solid track record with robust growth for five consecutive years. Furthermore, with the support of our products’ high hygienic and safety standards and stringent internal quality control procedures, Yurun Food will aim to continue to expand its market share and further strengthen its leading market position as a result of the implementation of industry consolidation and food safety laws by the Chinese Government. Yurun Food was included in the MSCI Global Standard Index (MSCI China Index) on 29 August 2008, which is an important recognition of Yurun Food as one of the leading companies in the meat processing industry by the investment community.

Company website: http://www.yurun.com.hk

For further information, please contact:

China Yurun Food Group Limited
Fax: +852-3927-3300
Email: ir@yurun.com.hk

Elite Investor Relations Limited
Investor Relations:
Ms Cindy Xin
Tel: +852-3183-0226
Fax: +852-2155-9165
Email: cindy.xin@elite-ir.com

Media Relations:
Mr Bunny Lee
Tel: +852-3183-0282
Fax: +852-2155-9165
Email: bunny.lee@elite-ir.com
SOURCE China Yurun Food Group Limited

Establish Green Brand and Expand in Energy-saving market HONG KONG, Aug. 25 /PRNewswire-Asia/ –

Financial Highlights:

[...]]]> Sales Revenue and Profit Attributable to owners of the Company reached US$204.0 million and US$25.9 million respectively

Establish Green Brand and Expand in Energy-saving market
HONG KONG, Aug. 25 /PRNewswire-Asia/ –

Financial Highlights:

For the 6 months ended 30 Jun
2010 2009 Change
US$ ’000 US$ ’000 (%)
Sales revenue 204,034 109,780 +85.9%
Gross profit 55,377 27,869 +98.7%
Gross profit margin (%) 27.1 25.4 +1.7 ppts.
Operating profit 31,796 13,687 +132.3%
Profit/ (Loss)
attributable to
owners of the Company 25,934 (8,590) N/A
Net profit margin (%) 13.3% N/A N/A
Basic earnings/
(loss) per share 1.1 US cents (0.4) US cents N/A

NVC Lighting Holding Limited (“NVC” or the “Company”, together with its subsidiaries, the “Group”, HKEx stock code: 2222), the leading supplier of lighting products in China, today announced its interim results for the six months ended 30 Jun 2010 (“the Period under Review”).

During the Period under Review, benefiting from the favorable environment with the recovery of the economy and the implementation of efficient business strategies, the Group recorded outstanding business performance. Sales revenue increased by 85.9%, reaching US$204 million (approx. HK$1.59 billion). Gross profit rose to US$55.38 million (approx. HK$430 million) with an increase rate of 98.7%. Operating profit is up by 132.3% to US$31.80 million (approx. HK$247 million). Profit attributable to owners of the Company surged to US$25.93 million (approx. HK$202 million). The Board recommended the payment of an interim dividend of 2 HK cents per share for the six months ended 30 June 2010.

Concerning the Group’s outstanding business performance, Mr. Wu Changjiang, Chairman, CEO and Executive Director of NVC said, “During the Period under Review, the Chinese economy maintained its rapid growth momentum. The lighting industry showed certain signs of growth along with the recovery of the macro-economy. The Group fully grasped the market opportunities with effective business strategies such as promoting the brand profile of NVC and furthering its sales, production and product R&D efforts, with a view to maintain the Group’s leading position in the lighting industry and deliver outstanding results. The Group was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited on 20 May 2010, symbolizing a new milestone for the Group’s further development, and the proceeds from which allowed us to accelerate the pace of corporate development, enhance our core competitiveness and profile and consolidate our leading position in the industry.”

During the Period under Review, rapid growth was recorded for the Group’s three product segments. Revenue from luminaire products increased by 88.1% to US$99.07 million (approx. HK$770 million). For the lamp products, revenue increased 77.3% to US$78.03 million (approx. HK$607 million) as compared to the corresponding period in 2009. And the revenue of lighting electronic products segments was US$26.93 million (HK$209 million), with an increase of 105.7%. With our efforts in improving our manufacturing efficiency and enhancing the vertical integration of products and the scale of the economies, the Group’s gross profit margin increased from 25.4% in the first half of 2009 to 27.1% this year.

During the Period under Review, the Group’s s retail network further expanded. 405 NVC outlets were newly established. After taking out 216 NVC outlets which were closed down or re-organized, the number of net increase for NVC outlets was 189, among which 51 were in the provincial capital cities, 20 were in the municipal cities and 118 were in the counties. As at 30 June 2010, the Group had a total of 2,650 NVC outlets. The Group furthered its effort in strengthening its control over its exclusive regional distributors and NVC outlets during the period. In the first half of 2010, during the first half of 2010, the Group maintained the original 36 exclusive regional distributors and has strengthened its control and guidance over their implementation of the Company’s policy, so as to perfect the price management system and optimize the product portfolio. During the Period under Review, the Group has newly developed 18 large Professional engineering customers with transaction value exceeding RMB1 million and 46 key accounts, revenue grew by 120.4% as compared with the corresponding period of 2009.

In terms of NVC brands sales in international market, the Group continued to develop new customers and strengthen the development of its sales channels. With respect to emerging market such as Asian and African countries, the Group has adopted strategy with reference to its China model to develop new distributors. With respect to the markets with well-established channels such as Europe and the USA, the Group has expedited its pace in brand building and cooperated with experienced channel operators. For example, UK NVC has gradually switched to the wholesales of NVC brand products from the sole OEM sales model and had successful cooperation with a number of well-known local electrical appliances chain stores, thereby NVC brand products gained access to the mainstream channels.

The Group has been placing strong emphasis in raising the brand profile, marketing and promoting the NVC brand, which included active participation in different industry seminars and forum in China, and participated in various overseas promotional activities, in order to strengthen and promote NVC’s professional brand image.
Concerning the Group’s development in the second half year, Mr. Wu said, “In the later half of 2010, China will be hosting two international events, namely, the Shanghai World Expo and the Guangzhou Asian Games. The resultant economic benefits for domestic enterprises from these two major events will be immeasurable. They will also bring large amount of orders and offer a showcase platform for China’s lighting industry. In order to grasp the business opportunities ahead, we will continue to secure our leading position in the industry through technological transformation and introduction of advanced production facilities. On the other hand, the global’s concern on energy saving and emission reduction has directly driven market demand to energy-saving products. We will keep increasing our production capacity on energy-saving lamp products and focus on the production of energy-saving products, further consolidate the NVC’s green brand image. We will also make our best efforts to further brand building, increase investment in the research and development of products, improve production efficiency and product quality and introduce the most advanced technologies in the world, so as to maintain our leading position in technologies of the lighting industry.”

“We will also further expand the coverage of our distribution network, penetrate deeper into existing markets and explore new distribution models. We will also keep an eye on potential enterprises, continue to perfect our product structure and market system through merger and acquisition activities. We strive to achieve the goal of ‘Becoming a world famous brand and the best player in the industry, bring the best return to our shareholders,” Mr. Wu concluded.

About NVC

NVC is a leading lighting products supplier in China, and was listed on the Stock Exchange of Hong Kong Limited on 20 May 2010. According to the Report from China Association of Lighting Industry (CALI), the Company is the largest domestic lighting brand supplier and ranked the second amongst all lighting brand suppliers in China based on 2009 sales revenue. The Company designs, develops, produces, markets and sells a variety of lighting products, including luminaire products, lamp products and lighting electronics products. NVC products were sold through a nationwide sales network of 36 exclusive regional distributors and 2,650 NVC outlets covering 31 provinces, municipalities and autonomous regions in China.

For further information, please contact:

Porda International (Finance) PR Company Limited
Mr. Terence Wong
Tel: +852-3150-6773
Email: terence.wong@pordafinance.com.hk

Ms. Kelly Fung
Tel: +852-3150-6763
Email: kelly.fung@pordafinance.com.hk

Ms. Fiona Ko
Tel: +852-3150-6750
Email: fiona.ko@pordafinance.com.hk

Ms. Irene Chan
Tel: +852-3150-6739
Email: irene.chan@pordafinance.com.hk

Fax: +852-3150-6728

SOURCE NVC Lighting Holding Limited

HONG KONG, Aug. 23 /PRNewswire-Asia/ — Ipreo, a leading global provider of market intelligence and productivity solutions to investment banks and corporations, announced that Anthony Choy comes on board today to take on Corporate Sales Director for Greater China, selling market intelligence, Investor Relations (IR) workflow [...]]]> Experienced business development professional to focus on expanding Corporate business

HONG KONG, Aug. 23 /PRNewswire-Asia/ — Ipreo, a leading global provider of market intelligence and productivity solutions to investment banks and corporations, announced that Anthony Choy comes on board today to take on Corporate Sales Director for Greater China, selling market intelligence, Investor Relations (IR) workflow solutions, and corporate advisory services into Hong Kong, Taiwan and Mainland China.

Mr. Choy is an experienced business development professional with a successful track record in the data and information space. He comes to Ipreo from Thomson Reuters, where he was responsible for sales and account service to C-level executives and IR professionals of listed companies in Hong Kong and Mainland China. Prior to that, Mr. Choy was a top salesperson at Wisers Information Limited. Previous experience also includes sales and marketing roles in the field of telecommunications. His language skills include English, Cantonese, and Mandarin.

“In 2010 alone, over 70 listed companies in Greater China have come to rely upon our technology, real time data or analyst based advice,” said Justin Reynolds, Managing Director of Asia-Pacific for Ipreo. “Anthony’s experience in both the region and the industry will allow us to continue our rapid growth and bring these critical IR services to more companies in the region.”

Ipreo’s Corporate offering includes a suite of market intelligence tools for Asian listed companies (Shareholder Identification, Surveillance, Shareholder Meeting Proxy Solicitation Services, Targeting, Perception and Corporate Governance Analytics), as well as workflow tools and buy-side investor data (BD Corporate, iPlanner, and buy-side communication tools).

About Ipreo

Ipreo is a premier global provider of high quality data, market intelligence, and productivity solutions to Investment Banking and Corporate clients. With decades of experience serving the capital markets, and a reputation for superior customer service, Ipreo is both a dynamic innovator and a trusted resource. Ipreo has more than 600 employees and operations throughout Asia, the US, Europe, and Africa. Ipreo is majority-owned by private equity firm VSS (http://www.vss.com ).

For more information, please go to http://www.ipreo.com .

SOURCE Ipreo

PERTH, Australia, Aug. 24 /PRNewswire-Asia/ — AVEVA Group plc (LSE: AVV) one of the world’s leading providers of engineering design and information management solutions for the plant, power and marine industries announces the successful conclusion of its Engineering Information Management (EIM) Conference 2010 series in Perth and Melbourne. This [...]]]> 2010-08-24 09:00

PERTH, Australia, Aug. 24 /PRNewswire-Asia/ — AVEVA Group plc (LSE: AVV) one of the world’s leading providers of engineering design and information management solutions for the plant, power and marine industries announces the successful conclusion of its Engineering Information Management (EIM) Conference 2010 series in Perth and Melbourne. This high calibre event attracted over 120 delegates in the two cities where key customers and industry peers shared success stories and exchanged knowledge on emerging technologies.

Among the highlights of the conference were these key customer presentations:

— Building a sustainable, fully digital operational Plant by Woodside
Energy, illustrating how they successfully built a sustainable, fully
digital operational plant, as well as the benefits in and the future of
using AVEVA technologies.

— The value of P&ID data interfacing with the AVEVA PDMS model by
WorleyParsons and AVEVA Joint development, where the business benefits
of interfacing external P&ID’s to the 3D Model were demonstrated.

— Otway Transition Project — Managing the migration of Engineering
Information by Origin Energy focusing on the challenges faced during
the acquisition of Otway asset and the importance of quick and accurate
transition of engineering information to Origin’s target systems, with
minimal impact on operations and ownership handover.

— Endeavour — the Project Knowledge Centre by Aker Solutions presented
the project knowledge and management environment of “Endeavour” which
enabled secure access of controlled documentation, design data,
procurement data and 2D/3D CAD data via a browser without the need for
a locally installed application.

The presentations above and conference as whole demonstrated real benefits of AVEVA solutions to businesses and showcased new technologies capable of driving global projects, reducing lead times and improving productivity and quality.

Richard Beck, Vice President and Country Manager, AVEVA Australasia, said: “We are very pleased with the outcome of EIM 2010 conference series and valuable experiences shared during these two days. I’m assured the knowledge learned will benefit of our business as well as our customers.”

About AVEVA Group Plc

AVEVA is trusted around the world to deliver engineering design and information management solutions with strategic value to leading companies in the plant and marine industries. For further information please visit http://www.aveva.com or http://www.aveva.com/ednotes

(C) AVEVA Solutions Ltd and its subsidiaries 2010. All product names mentioned are the trademarks of their respective holders.

Media Contact:

AVEVA Asia Pacific
Youli Hooi
Marketing Communications Manager
Tel: +603-2176-1234
Email: youli.hooi@aveva.com

Edelman
Tony Faccenda
Senior Account Executive
Tel: +61-3-9863-7629
Email: tony.faccenda@edelman.com

SOURCE AVEVA Group Plc

SINGAPORE, Aug. 19 /PRNewswire-Asia/ — PayPal and comGateway today announced the Asia Pacific launch of HopShopGo that enables consumers to conveniently shop, buy and ship from over 300,000 U.S. online retailers at the touch of a keyboard and a click of a mouse. HopShopGo is now open for [...]]]> 2010-08-19 15:00

SINGAPORE, Aug. 19 /PRNewswire-Asia/ — PayPal and comGateway today announced the Asia Pacific launch of HopShopGo that enables consumers to conveniently shop, buy and ship from over 300,000 U.S. online retailers at the touch of a keyboard and a click of a mouse. HopShopGo is now open for business across the region – in particular for shopping-happy consumers in Australia, Hong Kong and Southeast Asia – at http://www.hopshopgo.com . All consumers need to get started is a PayPal account to enjoy the benefits of this exclusive e-destination from today onwards.

HopShopGo is a one-stop online shopping site that takes care of consumers’ payment and shipping needs, typically the two biggest barriers for online and overseas shopping. PayPal has teamed up with comGateway to provide a faster, safer online payment experience, while enabling consumers to find and snap up bargains and bestsellers from U.S. retailers, even those who do not ship to Asia Pacific or accept purchases outside of the U.S. What really makes HopShopGo truly special is a Buyer Protection policy* plus 10% lower shipping fees when shoppers pay via PayPal.

According to the Asia Digital Marketing Association (ADMA) 2010 Report, 39% of online shoppers across the region say they buy from overseas websites with the top reasons for online shopping include: convenience of being able to shop anytime; compare prices to get better deals; and finding and comparing products.

With HopShopGo, consumers across Asia Pacific can now easily get their hands on well-known U.S. brands for fashion, electronics, health & wellness, homeware and more, such as:

— Fashion: Neiman Marcus, Macy’s, Saks Fifth Avenue
— Electronics: RitzCamera, NewEgg, BestBuy
— Health & Wellness: MacCosmetics, Drugstore, Bath and Body Works
— Homeware: OverStock, Costco, Williams-Sonoma

“Shopaholics no longer have to wait for the latest trends and items to hit their shores as HopShopGo provides easy access to the most famous brands and products in the U.S. With our Buyer Protection policy, consumers will have greater confidence shopping on HopShopGo knowing that they can get a full refund for the eligible items they purchased from the U.S. but did not receive,” said Nimish Dwivedi, Regional Marketing Head, PayPal Asia Pacific.

“Cross-border shopping is on the rise, as consumers are increasingly exposed to international fashion, cultural and technology products. So PayPal and comGateway have made shopping from the U.S. easier by allowing consumers to sign up at HopShopGo with their PayPal account. On top of the savings from shopping online over physical stores, users can benefit from many other exclusive discounts on HopShopGo,” said Wee Yirong, Business Development Director, comGateway.

Online shopping experience with better consumer protection and more savings

When shopping on HopShopGo with their PayPal account, consumers will enjoy these benefits:

— Faster shopping with express checkout: They do not have to
enter their financial details every time they buy an item.
— Greater confidence with Buyer Protection Policy: They will
get a full refund if they do not receive the eligible items
that they ordered.
— Lower shipping fees for greater savings: They will enjoy a
further 10% shipping discount.
— More security through online financial privacy: Their financial
information is not shared with merchants.

“Online shopping allows me to find and buy items that can only be found overseas, like the latest items from ThinkGeek.com. I also get to enjoy better deals, especially when international sales are on and now when the Singapore dollar is strong,” said Jerry Loi, 26, IT executive from Singapore. “With HopShopGo, I now can shop, pay and ship more easily and with bigger savings, while I can relax with greater peace of mind as my financial details and purchases are protected by PayPal.”

So how does it work?

For those who are new to overseas online shopping, HopShopGo is convenient to use. You can simply:

1. Hop online (http://www.hopshopgo.com )
2. Shop and select their must-have items from a wide range of
U.S. retailers
3. Go straight to checkout using PayPal’s safer, more secure
online payment system

Shopping with confidence and ease on HopShopGo is assured as customers are able to take advantage of a variety of services adding to this unique shopping experience:

— Use the BuyForMe service in case your preferred payment
method is not accepted by a retailer. HopShopGo will simply
buy the product on the shopper’s behalf providing unlimited
access to sites.
— A ShipforMe service is also offered on HopShopGo, overcoming
international shipping restrictions to Asia Pacific and arranging
delivery of your items to your door for stores that don’t offer
international delivery.

Launch Promotions

Celebrating this launch, consumers shopping on HopShopGo will get to enjoy:

— First 2kg international shipping waiver*: For the first 3,000
registered users of HopShopGo who make a purchase with PayPal
before September 30, 2010.
— Prime Membership for the first three months*: Consumers will be
entitled to a discount of up to 15% on shipping charges, 30%
reduction on service fee, longer free storage period and more!

* Terms and conditions apply.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send payments without sharing financial information, with the flexibility to pay using their account balances, bank accounts (where available), credit cards and other methods. With more than 87 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global e-commerce. The company’s open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at https://www.paypal.com.sg .

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

About comGateway

comGateway was established in 2000 with its Asia Pacific headquarters in Singapore. comGateway offers online shopping services that enable customers globally to shop from US websites, including those stores that do not ship internationally or accept credit cards issued outside the U.S. The company offers several products that partner with reputable banks and payment companies such as Visa and American Express. It also partners DHL, as its official logistics partner. comGateway’s US operation is in Portland Oregon and it also operates commercially in more than 200 countries.

For more information on HopShopGo, PayPal and comGateway, please contact:

Dickson Seow
PayPal Asia Pacific
Email: dseow@paypal.com
Tel: +65-6510-6463

Jolin Tan / Jeremy Seow
Text 100 Public Relations (for PayPal)
Email: paypalteam@text100.com
Tel: +65-6603-9000

Wee Yirong
comGateway
Email: yirong.wee@comgateway.com
Tel: +65-6289-8993

SOURCE PayPal; comGateway

SINGAPORE, Aug. 18 /PRNewswire-Asia/ — The parent company of Saxo Capital Markets, Saxo Bank, the trading and investment specialist, reported a DKK 551 million increase in net profits from its 2009 H1 half year results.

(Logo: http://www.prnasia.com/sa/2010/01/18/20100118801199.jpg )

– Pre-tax profits of DKK 729 million (DKK 55 million). – Net profit of DKK 551 million (DKK 41 [...]]]> 2010-08-18 18:38

SINGAPORE, Aug. 18 /PRNewswire-Asia/ — The parent company of Saxo Capital Markets, Saxo Bank, the trading and investment specialist, reported a DKK 551 million increase in net profits from its 2009 H1 half year results.

(Logo: http://www.prnasia.com/sa/2010/01/18/20100118801199.jpg )

– Pre-tax profits of DKK 729 million (DKK 55 million).
– Net profit of DKK 551 million (DKK 41 million).
– Operating income of DKK 1,992 million (DKK 969 million).
– EBITDA of DKK 811 million (DKK 128 million).
– The solvency ratio for Saxo Bank Group was 19.2% (18.9%).

The results achieved in the first six months of 2010 are rooted in increased market activity as well as decisions and actions taken since shortly before the onset of the financial crisis in the autumn of 2008. The Bank has:

– increased efficiency through IT investments, work process
rationalisation, outsourcing and business focus;
– reduced its headcount by approximately 40% from the peak level in
September 2008;
– completed 10 acquisitions, all of which have lived up to expectations;
– launched significant new products within FX, Equities and Commodities;
– expanded the business to include asset management;
– increased its geographical footprint with new offices in nine countries;
– increased its deposits and funds under management significantly;
– established IT development centres in India and Ukraine in addition to
its Danish IT centre.

During the first six months of 2010, Saxo Bank saw positive developments in key drivers such as the number of clients, number of trades and trading volumes.

The Bank’s clients’ collateral deposits increased by approximately DKK 11 billion to DKK 26.6 billion including clients’ collateral deposits from the Nordic activities of E*Trade, which Saxo Bank acquired in April 2010. Saxo Asset Management, Saxo Bank’s legally segregated asset management division, increased its assets under management from DKK 21 billion to 28.8 billion including DKK 4.2 billion from Saxo Bank A/S during the first six months of 2010.

After inclusion of the profit related to the first six months of 2010, the solvency ratio of the Saxo Bank Group was 19.2%. Saxo Bank has assessed that the internal capital requirement of the Group is 8% of risk weighted items. The capital base buffer as of 30 June 2010 was more than DKK 1.1 billion.

About Saxo Capital Markets

Saxo Capital Markets Pte Ltd is a wholly-owned subsidiary of Saxo Bank A/S, the online trading and investment specialist. It serves as the Asia Pacific headquarters and holds a Capital Markets Services license from the Monetary Authority of Singapore. Saxo Capital Markets also holds a Commodity Broker licence from The International Enterprise Singapore.

Clients can trade Forex, CFDs, Stocks, Futures, Options and other derivatives via SaxoWebTrader and SaxoTrader, its leading multi-asset online trading platforms.

SaxoTrader is available directly through Saxo Capital Markets or through one of its institutional clients. White labelling is a significant business area for Saxo Capital Markets, and involves customising and branding of its online trading platform for other financial institutions and brokers. Saxo Bank has more than 120 white label clients and boasts thousands of retail clients in over 180 countries. Saxo Bank is headquartered in Copenhagen with offices in Australia, the Czech Republic, France, Greece, Italy, Japan, the Netherlands, Singapore, Spain, Switzerland, UK, and the United Arab Emirates.

The Saxo Bank Group was recently awarded “Best Bank for FX Investors” and “Best Retail Platform” in FX Week. The Institutional arm of the business also won “Best White Label Solution Provider” by World Finance and “Best Re-labeling Platform” by Profit and Loss.

For more information, please visit http://www.saxomarkets.com.sg

Media contacts:

Saxo Capital Markets Pte Ltd
Celeste Fong
Tel: +65-6303-7713
Email: xcfo@saxomarkets.com.sg

SOURCE Saxo Capital Markets Pte Ltd