Scam-tainted Punjab National Bank (PNB) on Wednesday said that the Hong Kong Monetary Authority (HKMA) has enhanced supervision of its local branch and has asked it "not to proactively solicit customer deposits". Reported by DNA 4 hours ago.

APA boss Mick McCormack won’t be singing the blues if Hong Kong billionaire Victor Li is successful with the $13 billion bid. Reported by Brisbane Times 2 hours ago.

In Hong Kong and elsewhere, these legal relics are being put to tyrannical ends Reported by FT.com 3 hours ago.

Kowloon, Hong Kong, June 13, 2018 (GLOBE NEWSWIRE) -- Greenpro Capital Corp. (“Greenpro”) (OTCQB:GRNQ), a financial services company in Asia Pacific, today announced the closing on June 12, 2018 of a public offering of 535,559 shares of common stock at a public offering price of $6.00 per share, for total gross proceeds of approximately $3.2 million before deducting placement agent fees and other related expenses. The shares are scheduled to begin trading on the NASDAQ Capital Market on June 13, 2018 under the ticker symbol “GRNQ”.“Listing on Nasdaq is an important milestone for Greenpro and a source of great pride for the Greenpro family of employees, executives and supporters that have contributed to this moment. We expect that trading on Nasdaq will expand our visibility, broaden and diversify our stockholder base, provide better liquidity and ultimately contribute to our ability to increase stockholder value.”, said C.K. Lee., Chief Executive Officer of Greenpro. “We will continue our commitment towards serving an important wealth management role for our clients with the intention of providing “wealth creation, wealth protection and wealth succession”.

Greenpro’s common stock, which has been trading on the OTCQB Marketplace (the “OTCQB”) since July 2015, will continue to trade on the OTCQB until the market closes on June 12, 2018.  Network 1 Financial Securities, Inc. acted as the placement agent for the offering.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (“SEC”) on May 14, 2018. The offering of these securities was made only by means of a prospectus, forming a part of the registration statement. A copy of the final prospectus relating to the offering may be obtained by contacting Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, New Jersey 07701, Attention: Adam Pasholk, Managing Director, Investment Banking or by calling +1 (800)-886-7007. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

*About GreenPro Capital Corp.*

GreenPro Capital Corp.(OTCQB : GRNQ) is one of the fastest growing financial services company in Asia Pacific. GRNQ provides tailored professional advices and wide range of business solution services to businesses located in Asia and South-East Asia. Comprehensive range of cross border business services include, but not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax planning. GRNQ also operate venture capital business in the region, which incubates and invests in emerging growth companies in the region, to maximize and capitalize stakeholders values globally at personal and corporate level.

Information about GreenPro Capital Corp. is available at www.greenprocapital.com

*Forward-Looking Statements*

The statement included in this press release, other than statements of historical facts, are forward-looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as may, will, expect, intend, estimate, anticipate, plan, seek, or believe. These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward- looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events

CONTACT: For more information, please contact Greenpro at: ir@greenprocapital.com
Room 1701-03, 17/F, Metropolis Tower, 10 Metropolis Drive, Hung Hom, Kowloon, Hong Kong
+852 3111 7718 Reported by GlobeNewswire 2 hours ago.

NINM Lab, a new company based out of Hong Kong, has debuted a product on Kickstarter that turns your 35mm camera into an instant camera, as spotted by PetaPixel.

The attachment, called a Magny 35, is comprised of three parts: an enlarging optics film back, an aluminum lens barrel, and the film ejection unit. To use it, detach your camera’s original back, and replace it with the assembled Magny 35. When you snap a photo, it will take the image from your camera and project the light onto the instant film surface, enlarging it to 62 x 62mm in the process. Everything connects with bayonet mounts for ease and speed.

The Magny 35 has a maximum effective aperture of f/4, uses a power supply of four AAA batteries, and it has an LED film counter,... Reported by The Verge 2 hours ago.

The United States, Canada and Mexico will hold the 2026 World Cup finals after their United bid won the hosting rights by a landslide in Moscow on Wednesday, but a precedent set in the voting could lead to complications for China’s hopes in the future. The United bid secured 134 votes to Morocco’s 65 to secure a victory in the two-horse race that takes the tournament back to North America for the first time since the United States hosted the 1994 finals. “To have a message... Reported by S.China Morning Post 2 hours ago.

Watch VideoAnthony Bourdain's travel and food series "Parts Unknown" is staying put on Netflix "for months to come."

The show was originally scheduled to leave the streaming service's U.S. platform June 16. But after Bourdain's recent death, Netflix announced it had extended its licensing agreement to keep airing "Parts Unknown."

CNN reported Bourdain took his own life while he was overseas working on an upcoming episode of the show. 

The 11th season of "Parts Unknown" premiered on CNN in late April and followed Bourdain as he traveled to various parts of the world, including Armenia, Hong Kong and West Virginia. 

Over the course of its run, the show won five Emmy awards. 

If you need to talk to someone about suicide prevention, contact these organizations:

— The National Suicide Prevention Lifeline at 1-800-273-8255

— or text "HOME" to the Crisis Text Line at 741741.

Additional reporting from Newsy affiliate CNN. Reported by Newsy 53 minutes ago.

*Landmark TAILORx Results, Published in The New England Journal of Medicine, Demonstrate the Oncotype DX Breast Recurrence Score^® Test Definitively Identifies the 70% of Women with Early-stage Breast Cancer Who Receive No Benefit from Chemotherapy, and the 30% of Women for Whom Chemotherapy Benefit Can be Life-saving*

 

HONG KONG, CHINA - Media OutReach - 13 June 2018 - *Jacobson Pharma Corporation Limited *(*"Jacobson Pharma" *or the* "Group"; Stock Code: 2633*), the Hong Kong and Macau exclusive distributor of *Genomic Health, Inc.* (*NASDAQ: GHDX*), the world's leading provider of genomic-based diagnostic tests, is pleased to share that the Trial Assigning IndividuaLized Options for Treatment (Rx), or TAILORx, successfully defined the benefit of chemotherapy in early-stage breast cancer patients with Oncotype DX Breast Recurrence Score^® results of 11 to 25. The long-awaited results of the TAILORx study, the largest ever breast cancer treatment trial, sponsored by the National Cancer Institute (NCI), and led by the ECOG-ACRIN Cancer Research Group (ECOG-ACRIN), provided definitive evidence that the Oncotype DX Breast Recurrence Score test identified 70 per cent of early-stage breast cancer patients who received no benefit from chemotherapy, and can be effectively treated with endocrine therapy alone. Additionally, the trial established that chemotherapy may provide life-saving benefit to 30 per cent of patients.

 

The TAILORx results were published on June 3^rd in The New England Journal of Medicine in conjunction with a presentation during the Plenary Session at the 2018 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, United States.

 

The Oncotype DX^® gene expression tests carried out by Genomic Health have been used to guide treatment decisions for more than 900,000 cancer patients in more than 90 countries. The Oncotype DX tests have redefined personalized medicine by making genomics a critical part of cancer diagnosis and treatment.  

 

*Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma,* said, "Breast cancer is one of the most common types of cancerous disease with about 4,000[1] new cases found in Hong Kong, as well as about 270,000[2] new cases in China. . Jacobson has been the exclusive distributor of Genomic Health in Hong Kong and Macau for 10 years. We are confident that with our close collaboration with Genomic Health and our in-depth experiences in the relevant markets, we are well positioned to continue expanding business opportunities emerging in this arena."

 

*About **Jacobson Pharma Corporation Limited (**雅各臣科研製藥有限公司**；**Stock Code: 2633)*

Jacobson Pharma is the largest generic drug company in Hong Kong with over 30% share of the total generic drug market for each year since 2012. The Group's proprietary medicines, notably being Po Chai Pills (「保濟丸」), Tong Tai Chung Woodlok Oil (「唐太宗活絡油」), Ho Chai Kung Tji Thung San (「何濟公止痛退熱散」), Contractubex Scar Gel (「秀碧除疤膏」) Doan's Ointment (「兜安氏藥膏」), Flying Eagle Wood Lok Medicated Oil (「飛鷹活絡油」), Saplingtan (「十靈丹」), Shiling Oil (「十靈油」) and Col-gan Tablet (「傷風克」) have been widely recognized by the market. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group's website: http://www.jacobsonpharma.com
--------------------

[1] Source: Hong Kong Cancer Registry

[2] Source: Report of Incidence and Mortality from China Cancer Registries Reported by Media OutReach 24 minutes ago.

Reported by FT.com 7 minutes ago.

Aptose Biosciences (NASDAQ:APTO) today unveiled a ground-breaking licensing agreement with South Korea’s CrystalGenomics Inc to sell its drug therapy CG-806 in China, Hong Kong and Macau. CG-806 is a small molecule that is being developed for the treatment of acute myeloid leukemia, B-cell malignancies and additional blood cancers. Aptose shares climbed 11.8% to US$4.22 in pre-market trade on the back of the company’s deal. Under the terms, Aptose, which is based in San Diego, California, will pay CrystalGenomics US$3m up front as well as make additional payments for commercial-based milestones and royalties. The deal's value for the China territory, including the upfront payment, could reach as much as US$125mln. Dr. William Rice, Aptose’s president and chief executive, said pre-clinical work with CG-806 has shown its superior ability to kill B-cell malignancy relative to other treatments. “We believe that CG-806 has the potential to serve as a transformational agent for multiple hematologic cancers,” he said. Aptose has been conducting investigational new drug-enabling studies with CG-806 as well as numerous preclinical studies. Reported by Proactive Investors 5 hours ago.

Shares in a number of Chinese education companies dropped sharply in Hong Kong on Thursday, following on from declines in their US-listed peers the day before, after a report by short seller Muddy Waters said China’s TAL Education had inflated its net profit figures. Muddy Waters said TAL, one of China’s largest private education services providers, was combining “the old school China fraud playbook of simply pencilling in more favourable numbers with the more sophisticated... Reported by S.China Morning Post 5 hours ago.

The Hong Kong Polytechnic University (PolyU) today (14 June) kicked off the Jockey Club Smart City Tree Management Project, a large-scale pilot project in Hong Kong, with the support from academia, non-government organisations (NGOs) and the Government, to apply smart sensing technology (SST) and Geographic Information Systems (GIS) for monitoring tree stability to enhance timely appropriate mitigation measures for sustaining longer tree lives.

HONG KONG (PRWEB) June 14, 2018

The Hong Kong Polytechnic University (PolyU) today (14 June) kicked off the Jockey Club Smart City Tree Management Project, a large-scale pilot project in Hong Kong, with the support from academia, non-government organisations (NGOs) and the Government, to apply smart sensing technology (SST) and Geographic Information Systems (GIS) for monitoring tree stability to enhance timely appropriate mitigation measures for sustaining longer tree lives.

Tree anchorage is critical to its structural stability. Weak anchorage will be reflected in a tree tilting, which in serious case poses the hazard of falling. In the Project, sensors will be tailor-made and installed on the lower trunk of selected urban trees to monitor their tilting angle in a 3-dimensional manner, as a way of assessing the stability of the root and thus the tree. Data will be collected for a quantifiable analysis of the trees’ root plate movement through the use of SST, i.e. the technology of monitoring environmental changes with the use of remote sensors and techniques, via the GIS-based platform.

Taking into consideration of various environmental factors, a threshold will be determined to design the monitoring system as a scientific measurement of the root plate movement and stability. When the tilting angle of a tree exceeds the threshold, the project team will be alerted to conduct a visit to verify the data for the purpose of calibrating the system. When considered necessary, it will inform the relevant tree management team to undertake actions in a timely manner.

As such, the information generated by the monitoring system will provide objective and quantifiable data for the consideration of the tree management team to supplement the visual tree monitoring method widely adopted by the industry at the moment in assessing the movement of a tree.

Officiating at the kick-off ceremony of the Project, PolyU’s Executive Vice President, Dr Miranda Lou, said PolyU has been striving to promote the sustainable development of our city and the Project is a typical example of this mission. “Committed to the pursuit for application-oriented research, PolyU researchers will apply smart sensing technology and Geographic Information Systems for monitoring tree stability. Our vision of establishing this system is to facilitate green management in the city for longer tree lives, so as to further improve our air quality for enhancing the living environment for the local community,” she said.

Ir Hon Chi-keung, JP, Permanent Secretary for Development (Works) of HKSAR Development Bureau, said, "This project is a good opportunity to showcase Hong Kong's positive attitude towards innovative technologies and technology applications. Through the close co-operation between the tree management departments and the project teams, an effective tree monitoring system will be established to enhance the tree management works in all aspects, enabling the continual development of Hong Kong into a safe and liveable city."

Ms Imelda Chan, Head of Charities (Grant Making-Elderly, Rehabilitation, Medical, Environment & Family) of The Hong Kong Jockey Club, said being committed to environmental protection, the Club has donated over HK$32 million to the Project. “In addition to the development of a smart sensor and tree monitoring system, the Jockey Club Smart City Tree Management Project includes public education programmes to encourage students and various stakeholders to learn more about urban forestry and biodiversity, as well as mobilise their participation in environmental protection.”

Members of the PolyU-led Project team include The University of Hong Kong (HKU), The Hong Kong University of Science and Technology (HKUST), and Friends of the Earth (Hong Kong). The project also receives support from relevant government departments.

The Project started in February 2018 and SST sensors will in due course be installed on approximately 8,000 urban trees across the territory for monitoring over a 3-year period. It is expected that the Project will provide scientific data to supplement the existing tree preservation mechanism through early notification and response, aiming to contribute towards sustaining the invaluable urban trees in the city. Reported by PRWeb 4 hours ago.

VMP PLC COMPANY RELEASE JUNE 14, 2018, AT 4.00 P.M. EET

*The public offering of VMP Plc has been oversubscribed and the subscription period for the public offering is discontinued*

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, NEW ZEALAND, AUSTRALIA, JAPAN, HONG KONG, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

The public offering of shares in VMP Plc (“VMP” or the “Company”) has been oversubscribed, and the Company’s Board of Directors has decided to discontinue the subscription period for the public offering in accordance with the terms and conditions of the initial public offering today, June 14, 2018, at 4:00 p.m. EET.

The institutional and personnel offering continue in accordance with the terms and conditions of the initial public offering.

The final number of shares offered in the initial public offering and the final subscription price is expected to be announced on or about June 18, 2018.

*Additional information*

Juha Pesola, CEO, tel. +358 (0)40 307 5105, juha.pesola@vmp.fi
Jarmo Korhonen, CFO, tel. +358 (0)40 510 9336, jarmo.korhonen@vmp.fi
Liisa Harjula, Chairman of the Board of Directors, tel. +358 (0)40 506 2295, liisa.harjula@sentica.fi

Certified Adviser: Danske Bank A/S, Finland Branch, tel. +358 (0)10 546 7934

*VMP in brief*

VMP is a Finnish HR services company with a comprehensive offering of staffing, recruiting and organisational development and self employment services. VMP is one of the leading HR services companies in Finland as measured by revenue. With its comprehensive services offering VMP aims to meet the changing needs of both employees and employers and is a holistic HR partner to its clients.

In 2017, VMP’s revenue amounted to EUR 109.5 million and EBITDA was EUR 9.3 million corresponding to an 8.5 per cent EBITDA margin.

*Important information*

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa. The information contained herein does not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. VMP Plc (the "Company") does not intend to register any portion of the contemplated offering in the United States or to conduct a public offering of securities in the United States.

The issue, exercise and/or sale of securities in the initial public offering are subject to specific legal or regulatory restrictions in certain states. The Company and Danske Bank A/S, Finland Branch assume no responsibility in the event there is a violation by any person of such restrictions.

The information contained herein shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale or offer of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Investors must neither accept any offer for, nor acquire, any securities referred to in this release, unless they do so on the basis of the information contained in the prospectus published or offering circular distributed by the Company.

The Company has not authorized any offer to the public of securities in any Member State of the European Economic Area. With respect to each Member State of the European Economic Area other than Finland, and which has implemented the Prospectus Directive (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States (a) to any legal entity which is a qualified investor as defined in the Prospectus Directive; or (b) in any other circumstances falling within Article 3(2) of the Prospectus Directive. For the purposes of this paragraph, the expression an "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered so as to enable an investor to decide to exercise, purchase or subscribe the securities, as the same may be varied by any measure implementing the Prospectus Directive in that Relevant Member State and the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

VMP is a Finnish HR services company with a comprehensive offering of Staffing Services, Recruitment Services, Organizational Development Services and Self-employment Services. VMP’s mission is to help both people and companies succeed in the changing world of work. VMP serves customers in Finland, Sweden and Estonia and it has recruitment points in Estonia and Romania. VMP group operates under VMP Varamiespalvelu, Staffplus, Personnel, Romana Management, Eezy and Alina brands.   Reported by GlobeNewswire 4 hours ago.

*Highlights*

· Founded in 1976 and with more than 40 years of operating history
· Its principal businesses include travel business process management (mid-office and back-office support services), air ticket distribution and design, develop and sales of travel products and services
· With a large and diversified customer base consisting of over 850 travel agents
· Largest customer is one of the world's top online travel agency (OTA)
· For the year ended December 31 2017, it sold approximately 949,000 air tickets, which amounted to approximately HK$4,018.9 million in terms of gross sales proceeds
· According to the CIC Report, the Group ranked top three with a market share of approximately 31.3% in the air ticket consolidation market in Canada, in terms of sales volume of air tickets in 2017
· According to the CIC Report, the Group also ranked top three with a market share of approximately 14.9% in travel business process management market in Canada, in terms of service revenue in 2017

 

*Financial Highlights*

 

For the year ended 31 December

HK'000

*2015*

*2016*

*2017*

Revenue

136,196

153,164

*153,862*

Air ticket distribution

75,287

94,930

*92,863*

Travel business process management

21,183

23,968

*28,849*

Travel products and services

39,726

34,266

*32,150*

Gross profit

80,618

99,139

*98,148*

Profit before income tax

34,360

48,062

*17,897*

Profit for the year

25,489

34,998

*12,365*

Adjusted profit for the year*

25,489

34,998

*26,750*

*
*

* Excluding listing expenses and deferred income tax impact from the deductible listing expenses recognized in income tax expenses

HONG KONG, CHINA - Media OutReach - 14 June 2018 - *CTEH INC.* ("CTEH" or the "Company", together with its subsidiaries, the "Group"), a leading air ticket consolidator and travel business process management service provider in Canada, announces the details of its plan to list on the Main Board of The Stock Exchange for Hong Kong Limited("SEHK") today.

 

A total of 300,000,000 shares will be offered under the Global Offering, of which 270,000,000 Shares, or 90%, subject to adjustment and the Over-allotment Option, will be offered by way of International Offering while the remaining 10%, or 30,000,000 Shares, subject to adjustment, will be offered under the Hong Kong Public Offering. The Offer Price per Offer Share is expected to be not less than HK$0.335 and not more than HK$0.425 (subject to a downward offer price adjustment). The Public Offer will commence on 15 June 2018 (Friday) and close at 12:00 noon on 21 June 2018 (Thursday). The allotment result is expected to be announced on 27 June 2018 (Wednesday). Dealings in CTEH's shares on the Main Board of the SEHK are expected to commence at 9:00 a.m. on 28 June 2018 (Thursday).

 

The Company has entered into cornerstone investment agreements with WWPKG Holdings Company Limited ("WWPKG") and Mr. Duncan Chiu. WWPKG, is a travel company that is listed on GEM of the SEHK. Its major business includes the provision of outbound package tours with particular focus on Japan bound tours under the brand "縱橫遊". Mr. Duncan Chiu, Managing Director of Radiant Venture Capital, and a director of several listed companies in Hong Kong, has extensive experience in investment and mergers and acquisitions. The cornerstone investors have each agreed to subscribe for approximately HK$10.0 million equivalent of shares at the Offer Price with an aggregate amount of approximately HK$20.0 million. Based on the mid-point of the Offer Price, the total number of shares to be subscribed by the Cornerstone Investors will represent approximately 17.5% of the Offer Shares, assuming that the Over-allotment Option is not exercised.

 

Assuming an Offer Price of HK$0.38 per Share (being the midpoint of the Offer Price range), the aggregated net proceeds from the Share Offer, after deducting related expenses, will be approximately HK$55.7 million.

 

CTEH intends to use these net proceeds for the following purposes: 1) approximately 27.0% or HK$15.1 million, will be used for business expansion of air ticket distribution; include developing tailor-made online booking platforms and mobile booking applications in simplified and traditional Chinese for ethnic agencies, setting up customer services for Mandarin and Cantonese speaking travel agents, opening two regional offices and upgrading website; 2) approximately 13.9% or HK$7.7 million, will be used for expanding travel business process management team, which will be used for expanding business development team and purchasing service level management software; 3) approximately 13.5% or HK$7.5 million, will be used for upgrading information technology infrastructure and installing enterprise resource planning system; 4) approximately 2.4% or HK$1.3 million, will be used for increasing publicity across all of existing marketing channels; and 5) approximately 43.2% or HK$24.1 million, will be used for repayment of our bank borrowings after Listing.

 

Lego Corporate Finance Limited is the Sole Sponsor. Lego Securities Limited is the Sole Global Coordinator and Joint Bookrunner, while Sunwah Kingsway Capital Holdings Limited is a Joint Bookrunner and Joint Lead Manager. China Galaxy International Securities (Hong Kong) Co., Limited, Pacific Foundation Securities Limited, Future land Resources Securities Limited and VMS Securities Limited are the Joint Lead Managers.

* *

*Business Overview*

CTEH is a leading air ticket consolidator and travel business process management service provider in Canada, founded in 1976 and with more than 40 years of operating history. Its principal businesses include i) travel business process management (mid-office and back-office support services) (ii) air ticket distribution; and (iii) design, develop and sell travel products and services.

 

The Group is a large and diversified customer base mainly consisting of more than 850 travel agents in Canada and the United States and also individual travellers. The Group has been supplying air tickets since 2003 and providing travel business process management services since 2007 to its largest customer, one of the world's top online travel agency (OTA), which is listed on the NASDAQ Stock Market and owns and operates leading travel brands featuring the world's broadest supply portfolio, with more than 590,000 properties in 200 countries, over 500 airlines, packages, rental cars, cruises, destination services and activities. According to its annual report, it recorded revenue of approximately US$10.06 billion in 2017.

 

According to the CIC Report, the Group ranked top three with a market share of approximately 31.3% in the air ticket consolidation market in Canada, in terms of sales volume of air tickets in 2017, and also ranked top three with a market share of approximately 14.9% in travel business process management market in Canada, in terms of service revenue in 2017.

 

*Travel Business Process Management*

CTEH provides travel business process management mainly to travel agencies in North America. It offers a single point of contact for a range of travel business process management services include air ticket transaction processing, customer contact, BSP/ARC settlement and reconciliation, software development and travel licensing, compliance and other administrative matters, according to customers' requirements and business needs. As of the Latest Practicable Date, it had been providing travel business process management services to 10 travel agents.

* *

*Air Ticket Distribution*

CTEH operates as an air ticket consolidator to distribute air tickets on behalf of contracted airlines. As of the Latest Practicable Date, it had ticketing authority for more than 150 airlines and private fare deals with around 70 airlines. For the years ended December 31, 2015, 2016 and 2017, it sold approximately 606,000, 861,000 and 949,000 air tickets, respectively, which amounted to approximately HK$3,095.1 million, HK$3,755.0 million and HK$4,018.9 million in terms of gross sales proceeds, respectively.

 

*Travel Products and Services*

The Group offers package tours and other travel products and services to travel agents and individual travelers. Other travel products and services mainly include customized tours, flight plus hotel packages, hotel accommodations booking, admission tickets to attractions, car rental, travel insurance and visa application.

 

As of the Latest Practicable Date, it had developed a comprehensive range of package tours in English, French or Chinese, to more than 200 cities in over 40 countries in Asia, Europe, Middle East, North America and South America.

* *

*Competitive Strengths*

*1)    **In-depth technical know-how and information technology capabilities*

Through more than 40 years of operating experience, the Group has developed domain expertise in each of business segment and gained a deep understanding of the emerging trends, technologies and best practices in the travel and tourism industry in North America.

 

The Group has built a solid information technology infrastructure comprising computer hardwares, operating systems, enterprise software application, data management and storage, networking and telecommunication platforms, and system integration services to support daily operations. It also has extensive technical know-how in the travel and tourism industry.

 

Most of the Group's travel business process management team are familiar with the mid and back-office travel business processes and well-acquainted with different global distribution system (GDS), ticketing and communication skills for provision of travel business process management services to customers. Its travel technology services team possesses advanced skills and strong capabilities on (i) designing, installing and integrating of real-time interface to sync with different GDSs; and (ii) developing software that supports shopping and booking platforms, data management and payment gateway of travel companies according to their business needs; (iii) website design; and (iv) cloud computing.

 

During the Track Record Period, its travel technology services team has completed over 30 information technology projects including software upgrade for internal use and software development for certain customers, under the supervision of the director of travel technology services team, Mr. Jason Kam On Ho, who has over 30 years of experience in technology software engineering and project management.

 

Taken together, the depth and breadth of its technical know-how and information technology capabilities enable the group to maintain competitive position in the travel and tourism industry by meeting the demands of its customers for speed, flexibility and convergence.

 

*2)    **Synergistic business segments address a variety of evolving needs of travel providers, travel companies and travelers*

The Group's business model comprises three distinct but synergistic business segments: air ticket distribution, travel business process management and travel products and services, which is believed to be a key differentiating factor that distinguishes the Group from other traditional travel companies. It is believed that, through developing different business segments, the Group can utilize resources more efficiently and address the evolving needs of various participants in the travel and tourism industry value chain.

 

*3)    **W**ell-established business relationships with travel providers and travel companies*

The Group has established long-term business relationships with both travel providers and travel companies, some of whom it has been serving for over 30 years. It is believed that, such relationships cannot be easily replicated by others, and will continue to differentiate the Group from its competitors.

 

The Group's ability to obtain a wide selection of private fares from top airlines allows it to establish pricing advantage. It has maintained strong and long-standing relationships with several major airlines, including top airlines based in Canada, the United States, Hong Kong and China. As of the Latest Practicable Date, the Group has maintained 12 to 37 years of relationships with its five largest suppliers.

 

The Group has a large and diversified customer base mainly consisting of more than 850 travel companies in Canada and the United States and also individual travelers. It is believed, the Group's well-established relationships with major customers has greatly enhanced the Group's reputation in the travel and tourism industry, hence increased its ability to attract new customers.

 

*Business Strategies*

*1)    **Increase market share in the respective business segments by expanding customer** **base*

*
*

*Air Ticket Distribution*

The Group intends to build on existing track record and growing reputation to gain additional market share in the air ticket midstream industry in Canada. It will continue to seek for business opportunities to scale operations vertically and horizontally.

 

The Group plans to expand its business development team to focus on developing ethnic travel agencies and corporate travel agencies in Canada. It plans to first roll out tailormade booking platforms and mobile booking applications in simplified and traditional Chinese and set up customer services for Mandarin and Cantonese speaking travel agents to support the operational needs of new booking platforms.

 

It will also explore business cooperation opportunities with existing and new travel management companies. The Group plans to expand geographically in Canada and is considering to set up two additional regional offices in Winnipeg and Halifax to cover the provinces of Manitoba and Nova Scotia respectively, as well as to employ qualified personnel to carry out business development activities to attract new customers including but not limited to ethnic travel agencies and travel management companies.

 

In addition, to attract more individual travelers, it plans to upgrade its existing website to include online air ticket booking system and develop mobile booking application. It is believed that the online booking system will not only be a new revenue source but also a potential cost reduction for air ticket distribution to individual travelers.

* *

*Travel Business Process Management* 

The Group plans to hire dedicated business development staff to conduct targeted sales and marketing activities through various marketing channels including actively participating or sponsoring industry trade fairs and exhibitions. It will continue to focus on providing value-added, complex and integrated travel business process management solutions to travel companies in Canada and the United States. In addition, it plans to acquire softwares for service level management for productivity management and measurement. It is believed that, these tools will help the Group to optimize internal resources, assess the overall efficiency, and enhance competitiveness.

 

*2)    **Upgrade information technology system and continue to focus on operational efficiency*

The Group plans to continue to focus on operational efficiency through upgrading existing information technology infrastructure including data storage, electronic documentation, cloud based backup storage, communication technology network, computer systems and information security to support the flow, storage, processing and analysis of operating and financial data.

 

It plans to replace its existing e-ITS system, which includes functions such as ticket sales and invoice, record maintenance, interface control, accounting and management reports, with an advanced enterprise resource planning ("ERP") system. ERP system is an integrated computer based yield management tool to store, analyze flight data, passenger data and booking pattern, which allows the Group to determine pricing, thereby optimizing profits.

 

*3)    **Enhance brand recognition and awareness*

The Group will continue to implement marketing initiatives including placing advertisements on both local and national Canadian newspapers and commercials on various television and radio channels, sponsoring events, as well as participating in industry trade conference and organizing travel shows regularly to promote its products and services to potential customers.

 

In particular, with the increasing use of Internet for travel shopping and booking and in order to correspond with the launch of CTEH's online booking system, the Group will boost digital marketing efforts. Through advertising on social media and search engine marketing, it aims to increase online channel presence to reach out to a wider spectrum of individual travelers.

 

*About CTEH INC.*

CTEH INC. is an air ticket consolidator, travel business process management service provider and travel products and services provider in Canada with more than 40 years of operating history. The Group is mainly engaged in three businesses, including travel business process management, air ticket distribution as well as travel products and services in which they design, develop and sell package tours. The Group has a large and diversified customer base consisting of over 850 travel agents. According to the CIC Report, the Group ranked top three with a market share of approximately 31.3% in the air ticket consolidation market in Canada, in terms of sales volume of air tickets in 2017, and also ranked top three with a market share of approximately 14.9% in travel business process management market in Canada, in terms of service revenue in 2017. Reported by Media OutReach 4 hours ago.

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Philadelphia, PA, June 14, 2018 (GLOBE NEWSWIRE) -- Over the last two decades, large-scale outbreaks of infectious diseases have resulted in high levels of morbidity, mortality, and overall economic burden for affected regions. As complex networks become increasingly popular tools of study, researchers are applying network theory to the field of epidemiology. Due to the plethora of disease-related data available from various media outlets, an individual’s behavioral response to and communication of an epidemic depends on the pattern of information flow in a separate yet related network. As a result, mathematical models of humans’ reactions to disease outbreaks are important tools in epidemiological analysis.

In an article publishing today in the SIAM Journal on Applied Mathematics, Mengfeng Sun, Michael Small, Shui Shan Lee, and Xinchu Fu employ a concrete interplay model in quenched multiplex networks to study the connection between adaptive human behavior and epidemic spread. They base their model—which illustrates these factors as separate layers in the networks—on a standard susceptible-infected-susceptible model. Its generality makes it applicable to a wide range of public health scenarios.

Members of an affected population typically base their behavioral responses on information gleaned from mass and social media, physical encounters in their social and spatial neighborhoods, and general observations. “Traditionally, infectious disease models have treated human behaviors as constant, implying that they do not fluctuate according to disease incidence or a characteristic timescale,” Sun and Fu said. “However, the development of modern technology offers a great convenience for the communication of human behaviors, including face-to-face conversations, email exchanges, phone calls, and other types of interactions in a variety of network forums.” Humans adopt preventative measures based on these direct or indirect relations, both to protect themselves from infection and reduce the risk of further disease transmission. Such measures include limitation or elimination of time spent outside the home, increased attention to hand-washing and personal hygiene, and limited contact with neighbors and other citizens.

Prior studies involving complex interplay models have classified awareness into three categories: local awareness, global awareness, and contact awareness. However, Sun et al. classify it into two alternative categories: (i) adaptive behaviors stemming from awareness and (ii) behavioral information transmission (the spread of awareness itself). “Our work is within the framework of network-based models, and we use a more accurate network configuration—quenched multiplex networks—to model the transmission of an infection,” Sun and Fu said. “This configuration involves the interplay of epidemic spread, information transmission, and behavioral dynamics.” The authors configure these multiplex networks into two layers. One layer accounts for recurring physical contacts, such as coworkers, family members, friends, classmates, and neighbors; interaction with these groups can spread infection. The second pertains to virtual contacts — acquaintances on Facebook, Twitter, or other online social networking platforms; communication with this group is not physical and thus cannot actively spread infection.

When people become aware of an epidemic, adaptive behavior and behavioral information transmission occur concurrently, with transmission spurring continued adaptation. For the purposes of their model, Sun et al. focus on adaptive behavior’s effect on infection rate. Individuals’ disease-related communication steadily modifies behavior until it reaches an optimal protective state. Such behavior is a result of the spread of information pertaining to the epidemic, rather than the epidemic itself. It tends to be consistent or herd-like, as people communicate protective behaviors with their neighbors more frequently when an epidemic manifests in order to protect themselves. A higher adaptive strength correlates with a lower risk of infection.

“By taking account of multiple dynamic processes simultaneously, our model not only accurately describes the actual spread of epidemics in complex networks but also characterizes the interactions between the transmission of some epidemics (like the common cold, seasonal influenza, dengue fever, Zika, etc.) and the corresponding human behaviors,” Sun and Fu said. “We also find that behavioral control for some individuals enhances the speed with which the epidemic tends to become stable and the speed of collective synchronization, and also significantly reduces the value of the highest peak of the infection’s prevalence. This suggests that our epidemic control strategy from the perspective of behavioral control is very valid.”

To test their model, the authors apply it to an outbreak of severe acute respiratory syndrome (SARS), a contagious and dangerous respiratory illness. Because no vaccines currently exist for SARS, public health measures are primarily responsible for its control. Sun et al. focus on two types of minor preventative measures from the most recent outbreak: transmission precautions (i.e., use of protective equipment—like gloves—and attention to personal and environmental hygiene) and contact precautions (minimization of time spent in public spaces). An individual’s decision to adopt these measures depends on the outbreak’s severity. The authors create a mathematical model that includes SARS transmission, behavioral evolution, and regulation of public institutions. Every individual in an affected area is assigned one of four possible states: susceptible, asymptomatic, symptomatic, or recovered.

“The analysis suggests that a rapid behavioral response, a combination of public health measures, and the regulation of public institutions for certain key individuals (those with more connections) can effectively curb the outbreak of SARS by decreasing cumulative infections and deaths and reducing the reproductive number,” Sun and Lee said. Preventative behaviors were especially effective during the epidemic’s early stages, and achievement of the optimal preventative state for all individuals led to rapid containment. Ultimately, both pharmaceutical and nonpharmaceutical measures were responsible for total control.

Because manufacturers cannot immediately make vaccines or targeted drugs available at the onset of an epidemic, governments, public health authorities, and/or mass media typically advise the population on the appropriate measures for optimal self-protection and reduced susceptibility or infectivity. Citizens’ increased awareness of adaptive behavior’s power gives researchers and doctors time to make vaccines and treatments available.

“The numerical results show that individual adaptive behaviors triggered by the emergence of an epidemic can slow down the spread of the infection, lower the final epidemic size, and in some cases can prevent the infection from becoming widespread,” Small said. “These results provide us with an alternative idea on understanding why some infections do not cause major outbreaks or reach the epidemic threshold in the absence of immunization policy or territory-wide quarantine and isolation measures.”

Sun et al. hope to incorporate realistic data about human behaviors to formulate more practical and applicable models. They plan to specifically investigate the effects of drastic control measures—such as isolation, vaccination, and treatment—and the impact of the time delay between when individuals become aware of an outbreak and when they modify their behaviors. Until then, their current model identifies several methods through which individuals can protect themselves and their neighbors from emerging epidemics.

*Source article*: Sun, M., Small, M., Lee, S.S., & Fu, X. (2018). An Exploration and Simulation of Epidemic Spread and its Control in Multiplex Networks. SIAM Journal on Applied Mathematics.

*About the authors*: Mengfeng Sun is currently a doctoral candidate in the Department of Mathematics at Shanghai University. His research interests include Conley index theory, dynamical systems, nonlinear reaction-diffusion equations, synchronization and control of complex systems, mathematical biology, and complex networks. Michael Small is an applied mathematician working in the areas of complex systems and nonlinear dynamical systems. He is the CSIRO-UWA Chair of Complex Engineering Systems at the University of Western Australia, where his work focuses on applications to complex systems that arise in engineering, epidemiology, and social dynamics. Shui Shan Lee is a researcher in infectious disease epidemiology and emerging infections at the Chinese University of Hong Kong. Xinchu Fu is an applied mathematician at Shanghai University. He works in the areas of dynamical systems and mathematical epidemiology, and is the group head of a National Natural Science Foundation of China-funded key project on mathematical analysis of propagation dynamics in complex networks.

*Attachment*

· Figure1

CONTACT: Becky Kerner
Society for Industrial and Applied Mathematics
267-992-8681
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