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Azrieli Group Releases Q3/2020 Results


TEL AVIV, Israel, Nov. 25, 2020 /PRNewswire/ —

Financial Highlights for Q3/2020

  • NOI in the quarter totaled NIS 352 million, compared with NIS 407 million in the same quarter last year. The decrease derives from relief given to tenants in the malls, which was recognized and depreciated in full this quarter. In the offices segment, a very slight decrease of NIS 1 million was recorded, which derived mainly from a decrease in income from parking garages, due to low presence in the offices by the end of the quarter. In view of the decrease in the malls' activity, the same-property NOI was down 13% compared with last year.
  • FFO excluding senior housing totaled NIS 260 million, compared with NIS 292 million in the same quarter last year. The total FFO totaled NIS 282 million compared with NIS 321 million in the same quarter last year. The decrease derives mainly from the relief given to tenants in the malls.
  • Net profit attributable to the shareholders totaled NIS 192 million in the quarter, compared with NIS 289 million last year. The decrease in profit derives from the decrease in the NOI due to the COVID-19 crisis, together with a rise in financing expenses which totaled NIS 44 million in the quarter compared with financing income last year of NIS 9 million due to the change in the CPI between the quarters.
  • In the quarter the Group invested NIS 307 million in investment properties, in the development and construction of new properties and in the upgrade and improvement of existing properties.

Eyal Henkin, CEO of Azrieli Group (TASE: AZRG):: “Despite these challenging times, in which a key strategic arm of the Group is closed on Government orders, we present strong profitability, attesting to the strength and depth of our business. The offices sector is continuing to demonstrate a strong and stable horizon and we are seeing keen demand. The pace of new contract signings and option exercises during the year is similar to the pace pre-COVID-19.

Looking to the future, we are continuing full steam ahead with development on a huge scale, and are investing tremendous efforts in the data centers sector, which is seeing significant global growth. We identify many opportunities for collaboration with the largest players in the industry, and are working tirelessly to seize these opportunities.

The senior housing sector is also growing, and the new home in Lehavim will continue contributing to the Group's results as occupancy gradually increases, coupled with the many contracts signed throughout the Palace chain.

Thanks to the exceptional financial strength with which we entered the COVID-19 crisis, our low leverage and high cash and cash equivalents balance, we were able to dedicate the utmost attention, as is required in these times, to the responsible and sensitive management of our current operating activities in all sectors. As always, and also in the current challenging reality, we are able to look ahead and plan our next steps, and continue with accelerated development and promotion of our business plans, while also identifying new opportunities at the same time.”

Occupancy rates and store revenues

  • The average occupancy rate was 98% in the malls segment (net of properties under lease-up) and 98% in the offices in Israel segment (net of properties under lease-up).
  • Store revenues – due to the fact that many sectors had still not resumed normal operations or were operating on a partial basis during the quarter (schools, gyms, movie theatres and restaurants), also in the period when the malls resumed operations, the quarter's figures cannot be compared with the corresponding quarter.

Net of the said sectors, the store revenues reported by the tenants from the beginning of the year until September 18, 2020 (the date of the closing of the malls in the current lockdown) were 1.2% higher than the store revenues that were reported in the same period last year. The store revenues do not take into account the months of March-April, the lockdown periods in May and in September, store revenues of tenants that did not resume normal operations or operated on a partial basis in the period due to regulatory restrictions and government decisions pertaining to the spread of COVID-19, including store revenues of restaurants and coffee shops, movie theatres, food courts, gyms, conference centers, etc. and Azrieli Tel Aviv mall, much of whose footfall comes by public transport, particularly Israel Railways, which were shut down this year for a prolonged period of time due to the restrictions.

Business developments

  • The Opening of Azrieli HaManor – in September 2020 the construction of an office building with a total area of 28,000 sqm in the Holon commercial zone, close to Azrieli Holon Center, was completed, 3 month prior to the original estimated completion date. In October, Bezeq occupied an area of approx. 20,000 sqm of the office building.
  • Opening of Palace Lehavim – In the middle of the previous quarter, the Company launched the fourth Palace chain senior home, the Palace Lehavim project, and residents have begun moving into the apartments. As of the report release date, more than 50% of Phase A has been marketed (contracts, options and resident move-ins).
  • Signing of new contracts in the offices segment – In the course of the year, until close to the report release date, 203 new contracts and/or option exercises took effect, and existing contracts were extended for around 130,000 sqm, for rent 10.7% higher than contracts renewed / extended or signed with a substitute tenant.
  • Signing of new contracts in the malls segment – In the course of the year, until close to the report release date, 736 new contracts and/or option exercises took effect, and existing contracts were extended for around 78,000 sqm, with a slight decrease of 1% relative to the previous rent for such space.

Balance Sheet as of September 30, 2020

  • The Group has NIS 2.8 billion in cash, deposits and short-term investments, and NIS 3.5 billion including the Bank Leumi stock, cash and cash equivalents and marketable securities.
  • Net debt totaled NIS 9.1 billion.
  • The value of investment properties and investment properties under construction totaled NIS 29 billion.
  • Equity to assets ratio is 52% and net debt to assets ratio is 26%.
  • Unencumbered properties amount to NIS 24 billion.

Conference call

The Company will hold its quarterly conference call, hosted by the Group's senior management, today (Wednesday, November 25th, 2020) at 17:00 Israel local time (16:00 CET; 15:00 United Kingdom time and 10:00AM Eastern Time). The call will include a review of the Company's interim Q3 2020 performance as well as a discussion of the Company's strategy and expectations for the future. A Question & Answer session will follow the discussion.

To participate, please dial:
03-9180664 from Israel
1-888-407-2553 from the U.S.
0-800-917-9141 from the U.K.
0-800-024-9936 from the Netherlands
1-888-604-5839 from Canada
Or +972-3-9180664 internationally.

For further details:

Moran Goder, Head of Capital Markets and Business Development Analyst,
Azrieli Group
[email protected] 



Cision View original content:

SOURCE Azrieli Group


Samsung Electronics Appoints New President & CEO for Southeast Asia & Oceania


A Samsung veteran with over three decades of experience, Mr. Sangho Jo most recently led Samsung Electronics Europe and has returned to the Southeast Asia & Oceania region


SINGAPORE – Media OutReach – 5 January 2021  Samsung Electronics Co., Ltd. today announced the appointment of Mr. Sangho Jo as President and CEO of Southeast Asia & Oceania. 

A proven Samsung leader with over three decades of experience across business groups and geographies, Mr. Jo will steer the strategic growth directions of Samsung Electronics in Southeast Asia & Oceania.


Markets in Southeast Asia & Oceania are integral to Samsung Electronics’ long-term growth plans, with the region poised to sustain its rapid economic growth into the next decade, built on the digital ambitions of its cities, industries and communities. Mr. Jo will guide the business towards cementing its industry leadership and seizing long-term growth opportunities in this region by forging partnerships, creating operational excellence, and ultimately, building brand trust amongst consumers and enterprises.


He was most recently appointed President and CEO for Samsung Electronics in Europe, where he led the business to achieve sustainable commercial growth and brand favourability in 2020. In the past decade, Mr. Jo has served as President in the following markets: Samsung Electronics Germany (2019), United Kingdom (2015 — 2017), Sweden (2012 — 2014), Austria (2011), Baltic countries (2009 — 2010), and also served as Head of Visual Display business for Samsung Europe based in South Korea (2017 — 2018). 

Mr. Jo is not new to the Southeast Asia & Oceania region, having worked in Samsung Electronics Singapore (1997), Vietnam (1998 — 2000) and Malaysia (2007 — 2008). He said: “I am pleased to return to Southeast Asia and Oceania, and lead one of the vibrant leading hubs for Samsung Electronics globally. I look forward to strengthening the strong relationships we have built with our partners and customers here and explore exciting new consumer and commercial partnerships, steering Samsung into the next stage of growth in the region.”  


“In an era defined by rapid digital disruptions, we are committed to empowering the digital ambitions of nations, industries and communities in Southeast Asia and Oceania, and to help fulfil the potential of the people here through next-generation technologies,” he added.  



About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at

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HKGSEO Provides Free Website SEO Analysis and Consulting Services


HONG KONG SAR – Media OutReach – 5 January 2021 – The COVID-19 epidemic has lasted for nearly a year. The sharp fall in the street traffic has been affecting core shopping districts everywhere. In addition, under the “Anti-epidemic Fund”, the Innovation and Technology Commission (ITC) launched the ” Distance Business (D-Biz) Programme subsidy. Increasing number of large and medium-sized enterprises have turned to the online market, setting up websites and opening online shops, in an effort to open up online sales channels to recover some of their businesses during the epidemic.


As many companies are not familiar with website technology, website optimization and SEO promotion are often ignored. In fact, SEO is one of the highest ROI of many online marketing channels and it is worthy of a long-term investment.


HKGSEO has performed SEO for more than 500 enterprises, with the SEO process bringing considerable traffic and sales to the companies. Leveraging on their years of experience, they now provide free website analysis (worth HK$2,000) for all content types. Here are some website analysis projects HKGSEO has engaged in:


CMS Web Content Management System


We recommend using the most popular CMS in the market to build a website. Well-known CMS such as WordPress, Wix, Shopline, and Shopify will make it easier to manage web content and make the website easier to crawl and index by search engines.


HKGSEO hence cautions against web design companies that use their own CMS. Generally speaking, these websites are not SEO friendly. For example, they might have undesirable attributes such as duplicate page titles, dynamic URLs, or category pages that cannot update new content, etc. These attributes are disadvantageous to implementing SEO plans, which ultimately leads to the redesigning of the entire website, resulting in a much higher cost.


SSL Website Security Certificate


If your website does not have an SSL certificate (HTTPS) installed, it will be marked as an insecure website by the browser, which will adversely affect the credibility and conversion rate. SSL should be installed immediately to protect customer information, especially for e-commerce websites. There are some free SSLs available on the market, such as Let’s Encrypt, with paid premium certificates recommendation by online shops.


Mobile Version of The Website


The latest personal computer and Internet penetration survey published by the Census and Statistics Department shows that more than 5.97 million people in Hong Kong have mobile phones, and 99.7% of the users access the Internet on smartphones, higher than those connected to computers or other devices. Besides, Google has launched the Mobile-First Indexing mobile version of content priority indexing. If your website does not have a mobile version, the ranking will be poor and a lot of traffic will be lost.


Website Loading Speed


According to research, more than 68% of viewers will leave a website when it takes more than 3 seconds to open. The main reason for the slow loading is the use of shared hosting or non-local hosting. Switching to local hosting, SSD or CDN can effectively improve the loading speed.


Website Content


Is the website content of high quality? Does it answer the questions of potential consumers? To build up the content, some corporate websites have piled up keywords, and some have published blog articles regularly. However the content of the articles is sometimes plagiarized from news media. Plagiarism makes search engines recognize the overall website quality as low, which will in turn affect the ranking.


Websites and online shops are platforms that promote businesses. An optimized website will reward twice the results with half the effort of both online and offline marketing campaigns combined.


Please log onto, fill in the website, email and contact number, and our network promotion experts will reply within one working day and arrange a free SEO analysis and consultation.



HKGSEO focuses on website SEO services. It is founded and operated by former Google employees. The company is based in Hong Kong and has branches in Shenzhen, Singapore and Australia. It is committed to providing affordable, one-stop digital marketing solutions for small and medium-sized enterprises. Digital marketing solutions include: SEO, SEM, social media promotion and web design, etc.


Website (Chinese)

Website (English)

Email:[email protected]

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Royal SPA Hotel was rated as “China’s Five-Star Hot Spring”


HONG KONG SAR – Media OutReach – 5 January 2021 – Developed by Gudou Holdings Limited, Royal SPA Hotel has won the highest honor of “China’s Five-Star Hot Spring” among “China’s Star Graded Hot Spring” hotels.

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Royal SPA Hotel has been awarded the honor of “China’s Star Graded Hot Spring”(left) and the “China’s Five-Star Hot Spring” award plaque(right).


With the extraordinary royal garden features, elegant and pleasant natural scenery and unique appearance, Royal SPA Hotel has been awarded the honor of “China’s Star Graded Hot Spring” and the “China’s Five-Star Hot Spring” award plaque at the 7th China Hot Spring Tourism Promotion Season Series Activities and the 3rd International Conference on Hot Springs and Climate-Aligned Wellness Tourism in China hosted by the Hot Spring Tourism Branch of China Tourism Association and Chongqing Hot Spring Tourism Industry Association in November 2020.

The star rating standard for hot spring tourism enterprises is based on the “Star Classification and Evaluation of Hot Spring Tourism Enterprises” (LB/T016-2017) issued by the former National Tourism Administration, which stipulates the star classification conditions, service quality and operation specifications of hot spring tourism enterprises. According to the overall requirements, hot spring water area, housekeeping, catering, other service items, public and logistics areas and other evaluation content, hot spring enterprises are divided into one to five stars, with five stars being the highest.

Royal SPA Hotel is located in Gudou Hot Spring Resort, a national AAAA-level tourist area. Gudou Hot Spring Resort has six themed hotel complexes. In addition to the Royal SPA Hotel, there are also Hot Spring Villa Hotel, Mountain Seaview Hotel, Joyful Hotel, Gudou Lakeview Tulip Inn Hotel and Yuequan Huju Hotel. In addition to Hot Spring Valley, the largest hot spring area in the town, consisting of 62 public hot spring pools. There are also recreational facilities such as the World of Mountain Spring Water Planet Galaxy Beach, the glass bridge, the boat rowing around the lake, and the mountain cable car.


About Gudou Holdings Limited

Gudou Holdings is a hot spring resort and hotel operator and a tourism property developer in the People’s Republic of China (“PRC”). It principally engages in (i) the operation and management of the hot spring resort and hotel facilities of Gudou Hot Spring Resort, which is a national AAAA-level tourist area, and provision of consultancy and/or management services; and (ii) the development and sale of tourism properties in Guangdong Province. The “Gudou” brand is a well-known brand of integrated hot spring resort in the PRC. Gudou Holdings operates six theme hotel complexes, namely Royal Spa Hotel, Hot Spring Villa Hotel, Mountain Seaview Hotel, Joyful Hotel, Gudou Lakeview Tulip Inn Hotel and Yuequan Huju Hotel together with a variety of leisure and recreational facilities, including hot spring facilities, hotels, commercial stores, food and beverages outlets, recreational waterpark, a spa centre, a conference centre, parks, tourist attractions and other ancillary leisure and recreational facilities.

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