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BDO Survey: Fourth-year ESG reporting performance survey shows the evolvement in overall ESG involvement of majority listed companies but which remain inadequate to meet the requirements of the Revised Guide

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Listed companies should increase their awareness and take significant steps to enhance their ESG reporting framework to meet the new disclosure requirements and achieve long-term sustainability

 

HONG KONG SAR – Media OutReach – 12 January 2021 – During the fourth year of environmental, social and governance (ESG) reporting survey, improvements have emerged in ESG disclosure in some areas and these are reflected in the fact that the boards of listed companies are increasingly aware of the importance of ESG management. However, the survey results are still far from satisfactory in terms of compliance and quality. In particular, the results of certain areas, such as ESG risk management and materiality assessment, are reduced. In this survey, 7 key findings and 12 recommendations are made which can serve as reference for listed companies to intensify efforts in ESG reporting and practices, as well as achieve long-term sustainability. 

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(From Left to Right) Mr. Ricky Cheng, Director and Head of Risk Advisory of BDO, Mr. Clement Chan, Managing Director of Assurance of BDO and Mr. Johnson Kong, Managing Director of Non Assurance of BDO today announced the Fourth-year survey results of “The ESG Reporting Performance of Hong Kong Listed Companies”

Nowadays, ESG continue to gain traction in corporate reporting regimes and in the financial institutions sector from the standpoints of long-term sustainability and responsible investment. Users and investors are demanding an increasingly high quality of ESG information disclosures from listed companies so as to facilitate decisions on investment, interests and values alignment, business partnerships, and joint efforts to overcome global challenges. In particular, with the continuing adverse effects of COVID-19 and the revised HKEx ESG Reporting Guide (“the Revised Guide”) which came into effect on 1 July 2020, priorities have changed and reinforced public commitment to ESG. The ESG reporting regime has been evolving in fulfilling users’ increasing expectations and it is more important to improve ESG disclosure and become aware of the importance of ESG management, which will enable listed companies to prepare better to address ESG issues and risks and meet the disclosure requirements of the Revised Guide. As the world’s fifth largest accountancy network, BDO has always spared no efforts to conduct comprehensive ESG studies to provide useful findings for use by listed companies.

This year, BDO’s Survey entitled “The ESG Reporting Performance of Hong Kong Listed Companies (the Survey) randomly sampled 400 of the most-recent ESG reports published by both Main Board and GEM-listed companies on or before 31 July 2020. Most of the surveyed companies come from the Consumer Discretionary sector (20%), followed by Industrials (17%), Financials (15%), Properties and Construction (11%), Materials (8%), Information Technology (8%), Consumer Staples (5%), Healthcare (5%), Energy (4%), Utilities (3%), Telecommunications (2%), Conglomerates (1%) and Others (1%).

Of the 400 companies surveyed:

  • 60% were small size, 23% were medium size and large companies comprised 17%
  • The boards of listed companies were increasingly aware of the importance of ESG management, with 54% (2019: 34%) of the surveyed companies disclosing information about the board’s oversight over ESG issues and 74% of the Board’s review of companies’ ESG performance against ESG goals and targets

Below is a summary of the key findings of the 2020 Survey compared to the 2019 Survey results:

Survey Area

Key Data Points

2019 Survey

2020 Survey

Increase / Decrease / Maintained

ESG governance

Top level commitment and management

34%

54%

Increase

ESG Committee or personnel

24%

32%

Increase

ESG risk management

28%

26%

Decrease

ESG strategy

36%

48%

Increase

Stakeholder engagement

72%

76%

Increase

Materiality assessment

66%

60%

Decrease

Report assurance by independent third party

3%

5%

Increase

Goals on ESG management

15%

13%

Decrease

Staff career development programme

61%

60%

Maintained

Occupational health and safety training

69%

64%

Decrease

Customer support and services

67%

63%

Decrease

Whistle-blowing system

67%

65%

Decrease

Independent committee on anti-corruption management

23%

16%

Decrease

Adoption of reporting standards/guidelines other than HKEx ESG Reporting Guide

9%

10%

Maintained

Anti-corruption training

37%

17%

Decrease

Table 1: Summary of Key Findings of the Survey on “The Performance of ESG Reporting of Hong Kong Listed Companies 2020”


Boards are increasingly involved in ESG governance

The Survey results showed that 54% (2019: 34%) of the companies disclosed information about the board’s oversight of ESG issues. At the same time, among all the surveyed companies, the boards had gained momentum in disclosing their involvement in monitoring ESG performance and ESG risk management approaches in their preparations to meet the mandatory disclosure requirements of the Revised Guide. Meanwhile, the Survey also found that boards of large companies (76%) tended to put the most effort into overseeing ESG issues. On the disclosure of other ESG governance information in ESG reports, the Survey showed that there was slight improvement in the allocation of dedicated resources to manage ESG issues and formulate ESG strategy, such as disclosing a vision, ESG framework and ESG policy.

Reporting quality does not allow for meaningful comparisons

The Survey found that the information disclosed according to the four reporting principles of the Revised Guide, namely materiality, quantitative, balance and consistency, was inadequate. On disclosure on the quantitative, only 48% of surveyed companies disclosed standards, methodologies, assumptions, calculation tools used, and conversion factors used for reporting data on emissions or energy consumption. Less than 29% of the companies cited any changes made to the calculation methods or key performance indicators (KPIs) that they had used or any other factors that may affect the comparison of information in the report. Furthermore, only 64% of the companies disclosed their reporting boundaries in the report. Among companies that disclosed their reporting boundaries, only 30% explained the method that they used to determine them.

 

Quality of materiality assessment disclosure is reduced

The Survey results showed that 60% (2019: 66%) of the companies disclosed that they had conducted a materiality assessment, while the rest or the remaining 40% did not provide any information about materiality in their ESG reports. Of the 40%, small listed companies were the most likely not to have mentioned a materiality assessment. Among companies that conducted a materiality assessment, disclosed information was often inadequate. Only just over 50% of those companies provided comprehensive descriptions on how the ESG issues had been prioritised and they presented the results through visual aids, such as a materiality map. It is observed that when companies do not disclose adequate information about their materiality assessments, investors may find it difficult to ascertain whether the data being reported are relevant to their investment decisions.

Disclosure of issues related to climate change is limited

Climate change is a new addition to the Revised Guide. Listed companies are now required to disclose their policies on identifying and mitigating any significant climate-related issues that have impacted, or may impact, and the action taken to manage them. The Survey showed that only 12% of companies cited issues related to climate change. Among these companies, it is noted that over half (54%) disclosed the climate-related risks and opportunities that applied to them; and most (83%) reported on measures that they had adopted to mitigate their climate-related risks. The Survey also found that larger companies were more likely to consider climate risks and ways to mitigate them. Among companies that reported on climate change, only 15% referred to The Task Force on Climate-related Financial Disclosure (TCFD) when disclosing information related to climate change. Most of these were large listed companies from the healthcare, financial and telecommunications industries.

Target-setting for environment KPIs is limited

Only 15% of companies set targets for environmental KPIs, and these targets were mainly set by large listed companies. Among these companies, the most common targets set for environmental KPIs were to reduce waste, energy consumption and greenhouse gases (GHGs). The companies adopted a variety of approaches to setting the targets for their environmental KPIs while the most common ones were to align KPI targets either with the company’s visions and goals (33%) or with national or regional laws and regulations (40%).


Recognition of UN SDGs on climate action is stronger

According to the survey results, there is a growing trend of listed companies recognising the United Nations’ Sustainable Development Goals (UN SDGs). This year, more of the listed companies (2020: 8% vs 2019: 6%) identified SDGs that were relevant to their business operations and strategic goals.


Independent assurance on ESG reporting remains steady

The Revised Guide recommends that listed companies may seek independent assurance on their ESG reports. However, the Survey pointed out that independent assurance was obtained for only 5% of the ESG reports published by the companies. There were no significant changes in these results when compared with the results in the previous two years. Among the companies that sought independent assurance for their ESG reports, 56% obtained assurance for the whole report.

BDO recommendations:

Integrate ESG into the enterprise risk-management framework

In the context of risk management, ESG risks should not be dealt with separately but must be integrated into a company’s enterprise risk management (ERM) framework by referring to widely recognised best practice. The ERM framework should include robust mechanisms to identify and assess the impact of ESG risks that may influence the company’s strategy and objectives. At the same time, by considering the challenges and response, the company may identify new opportunities from predicted trends.

Build capacity on climate change

Given that climate change may affect a company through physical and transition risks, companies may need to understand the implications of these risks on financial performance. Climate change is associated with specialist knowledge and complex technical terms. Therefore, the company’s board or management may need to rely on the insights, knowledge or external expertise of sustainability professionals in order to assess the impact of climate risks during the process of identifying, assessing, prioritising and mitigating climate risks and other issues. Companies may set up a dedicated committee or working group to steer climate-change management. A climate change committee aims to secure board-level oversight of strategic climate-related risk and opportunity management. A climate change working group can build the company’s capability relating to climate risk and accelerate the integration of climate considerations into the ERM framework.

Enhance reporting quality

To increase the reliability and accuracy of the content, any changes should be explicitly explained in the ESG report. In addition to the Revised Guide, companies may refer to the Global Reporting Initiative standards for the relevant reporting principles to enhance the quality of their reporting. It is also important for companies to have a consistent and well-defined approach to considering the scope and including appropriate material operations or entities in the ESG report. Companies with a more complex structure may apply their own judgment criteria to define the reporting boundaries.

Consider industry factors

Disclosing factors that are related to a particular industry could show investors that these industry-specific ESG concerns have been adequately considered and addressed by the company. Listed companies may refer to some global reporting frameworks such as Global Reporting Initiative Standards (GRI) and Sustainability Accounting Standards Board Standards (SASB). These frameworks provide industry-specific guidelines on reporting a full range of economic and ESG impacts of operation within a particular industry.

Linking stakeholder engagement feedback with materiality assessment

It is recommended that companies’ response should be disclosed alongside stakeholder engagement results so readers may know whether the concerns raised by stakeholders are material to the company and whether strategies or measures have been formulated to address them.

Elaborate the impact of climate change on the business model

Companies are recommended to provide specific details on how climate change may affect various business model components from a strategic point of view, in order to enhance their development of a governance structure to manage climate change risks and to make changes to their business model as well as their strategic goals and objectives with a view to achieve long-term sustainability.

Specify the nature of climate risks that may impact the business

Listed companies should disclose, for example, the kinds of extreme climate events that would be highly likely to impact the business and what critical business processes or assets would be affected by these events. Listed companies should also disclose whether stakeholders that they rely heavily on, such as customers or suppliers, would also be affected by certain climate risks.

Alignment with the goals of the Paris Agreement

While the presence of environmental targets enables companies to gauge their environmental performance and reduce their impact on operations at an expected level, companies are recommended to align their strategic goals with the goals of the Paris Agreement so they can achieve net-zero carbon emission. Companies may refer to some international methodologies when setting targets for their environmental KPIs such as Science Based Targets.

Enhancing the quality of environmental impact disclosure

To give investors a comprehensive overview of the company’s environmental footprint, companies should disclose more background information about the environmental KPIs in their ESG report and how KPIs are related to their business operations. Companies may consider disclosing information, such as the sources of each environmental KPI, environmental policies and a roadmap to reduce the impact and long-term and short-term reduction initiatives and action plans to achieve the targets.

Expanding disclosure to include Scope 3 emissions

The Revised Guide requires listed companies to disclose direct and energy-indirect GHGs, for the purpose of transparency and completeness in presenting the carbon footprint for investors’ understanding. It is recommended that listed companies may also consider disclosing Scope 3 emissions. There are up to 15 types of Scope 3 emissions listed in the Greenhouse Gas Protocol. Listed companies may disclose information about the types of emissions that are relevant to their individual situation.

Integrating UN SDGs to create more positive outcomes

There is a view that companies may benefit from integrating UN SDGs into their business strategy and operations. Thus, when undertaking SDG reporting, companies may consider strategies such as identifying and understanding the impact of all the SDGs and targets on the business portfolio, aligning SDGs with the strategic targets that may have a critical impact on business operations and may require significant changes to be made and prioritising the SDGs and targets.

Ensuring Report Credibility by External Assurance

To ensure the credibility and transparency of disclosed ESG data, listed companies should start by obtaining independent assurance on certain key ESG information, such as their environmental or social KPIs, instead of the content of the whole ESG report. Companies may choose to have the whole ESG report assured when comfortable and accumulating adequate experience in ESG reporting.

Clement Chan, Managing Director of Assurance of BDO, said, “An ESG report is a useful tool to communicate to its stakeholders on organisation’s ESG performance and progress in addressing operating challenges including climate change. Also, since the COVID-19 pandemic has caused unprecedented disruption to economies and financial systems, we believe that green finance is the key to rebuild the economy on a more equitable foundation as recovery is urgently needed. In this report, we see that companies have made noticeable improvements in involving ESG strategy. But still, our Survey has found that there were limited information disclosed to the public which discourage investors and users with concerns of late over companies’ sustainability development. Listed companies should now intensify efforts to enhance the disclosure of ESG information to meet stakeholders’ information and investment needs, as well as to meet the requirements of the Revised Guide by HKEx.”

Johnson Kong, Managing Director of Non Assurance of BDO, remarked, “There is no doubt that green finance is getting more prominent amid the increasing awareness in the investment community, and ESG are rising on the rise across the world, especially in the healthcare and information technology realms since the outbreak of Covid-19. Thus, the transparency and accuracy of ESG report are increasingly important to Investors and capital markets institutions while they factor ESG performance into investment decisions as they often consider ESG-related information to determine whether a company is adequately managing risks, not only to derive reputational benefits. However, our Survey has showed that only a limited number of companies has reported climate-related issues with restricted information disclosed. For effective management of ESG issues, we are eager to see a higher engagement from companies on ESG reporting by elaborating the topics on the business model”.

Ricky Cheng, Director and Head of Risk Advisory of BDO, said, “We are pleased to see that there was improvement in ESG reporting for most listed companies. However, the results are still not satisfactory. Since the HKEx launched the Revised Guide and effect on 1 July 2020, listed companies are required to meet higher standards of ESG reporting to fulfil the integrated ESG component. Users of ESG reports are focusing on relevant and material ESG issues affecting the business operations of an organisation. They would also like to see the board of an organisation play a vital role in driving its ESG strategy and in ensuring the integration of ESG issues into the enterprise risk management framework, as well as the functions across an organisation. We hope our suggestions can provide more specific guidelines and directions for companies to improve their ESG reporting, with the ultimate aim to boost their investment value and inspire investor confidence”.

About BDO

BDO’s global organisation extends across 167 countries and territories, with more than 91,000 professionals working out of over 1,600 offices — and they’re towards one goal: to provide our clients with exceptional service. BDO was established in Hong Kong in 1981 and is committed to facilitating the growth of businesses by advising the people behind them. BDO in Hong Kong provides an extensive range of professional services including assurance services, business services and outsourcing, risk advisory services, specialist advisory services and tax services. For more details, visit www.bdo.com.hk.

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Acclime establishes a strong foothold in Australia with the acquisition of CoSec Corporate Services

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HONG KONG, Feb. 28, 2021 /PRNewswire/ — Acclime, the premier corporate services provider in Asia, is pleased to announce that it has completed the acquisition of CoSec Corporate Services, a highly regarded firm specialising in assisting foreign clients enter and operate in Australia. With this acquisition, in addition to the presence in nine key Asian jurisdictions and a European sales office in the Netherlands, Acclime's footprint now extends into Australia, with additional sales offices in the United States of America and the United Kingdom.

Founded by Blair Lucas and Paul Dixon in 2011, CoSec offers clients entering and operating in Australia a full suite of incorporation, hosting and compliance services under one roof. The firm has extensive experience in assisting life science companies looking to conduct clinical trials in Australia and take advantage of the government's 43.5% R&D incentive program. CoSec also works with foreign companies in various industries that wish to establish a presence in the lucrative Australian market. The firm's service package covers market entry assistance, incorporation, and all ongoing accounting, payroll, and tax compliance services necessary to maintain a compliant entity.

“This is the logical next step for CoSec and presents a strategic opportunity to be part of a larger international team with established resources and networks across Acclime's established Asian portfolio,” Blair Lucas, Co-founder and Chief Executive Officer of CoSec said. “We are excited at the opportunities that lay ahead and the value we can deliver to Acclime's clients through our presence and deep understanding of the Australian, US and UK markets.”

“Each market has its own complex corporate and compliance regimes which are difficult to navigate for companies who are looking to expand into new regions,” Paul Dixon, Co-founder and Chief Financial Officer of CoSec said. “As a result of this strategic integration, our clients can benefit from a wider spectrum of professional services and gain access to regional experts to help them navigate complex emerging Asian markets.”

Australia is a trading nation and a high-growth destination for foreign investment. Twelve of its 15 largest markets are in Asia and Oceania, showing how integrated Australia's economy is with the Asian neighbours,” Martin Crawford, Co-founder and CEO of Acclime said. “With our expansion plan, having a strong footprint in Australia – an integral and desirable market in the Asia-Pacific region – is critical. CoSec fits perfectly with what we do at Acclime – assisting clients to expand and succeed in whichever Asian market they choose to enter and operate within.”

CoSec will formally transition to the Acclime brand on 1 June 2021.

About Acclime

Acclime, the premier corporate services provider in Asia, helps corporate and private clients to advance their businesses and interests in difficult-to-navigate markets in emerging Asia. The company's vision is to reinvent the corporate services sector with innovative solutions that are seamlessly delivered to the highest global standards.

For further information, please visit www.acclime.com

About CoSec

Established in 2011, CoSec has successfully managed the initial and ongoing Australian expansions for over 500 clients across a broad range of industries. Our full capabilities include company incorporation, compliance and accounting support, registered office and CFO services, and resident directors. CoSec is located in Melbourne, Sydney, Brisbane and Adelaide, with representatives based in San Francisco and London.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/acclime-establishes-a-strong-foothold-in-australia-with-the-acquisition-of-cosec-corporate-services-301237013.html

SOURCE Acclime

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Citibank Officially Launches Citi Plus®

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Co-creating With Target Clients to Suit Their Banking and Investment Needs

Fostering Financial Education to Level-Up Digital Natives Through Mobile Banking

HONG KONG SAR – Media OutReach – 22 February 2021 – Citigroup Inc. (NYSE symbol: C) – Citibank announced today the official launch of Citi Plus®, a digital value proposition offering financial education and a novel banking experience to level-up digital natives through mobile banking. Citi Plus® clients can obtain personalized wealth management information and knowledge kits to accumulate their wealth and earn more through accomplishing fun tasks.

Having its pilot launch in early December 2020, Citi Plus® accumulated nearly 5,000 registrants, who are interested in the new service, in the first three weeks. “Citibank Hong Kong has shown strong determination in the development of digital banking in recent years. Citi Plus® is our latest initiative to bring digital natives a banking experience they admire,” said Mr Lawrence Lam, Consumer Business Manager of Citibank Hong Kong. “Millennials were invited to participate in research and the co-creation process, through which we could better address target clients’ pain points, and help them grow their wealth via the new service.”

Citi Plus® offers a range of investment products to clients including stocks, money market funds as well as an array of mutual funds primarily from Aberdeen Standard Investments, Allianz Global Investors and Franklin Templeton.

One of the key features of Citi Plus® is a series of financial wellness modules specially designed to educate clients and guide their thinking when it comes to making decisions about managing money, building wealth and achieving financial goals. These engaging modules enhance wealth inclusion, allow clients to build healthy financial habits and achieve targets responsibly.

  • Wealth Smart: A financial literacy guide covering a series of easy-to-follow courses and quizzes, with bite-sized content that helps clients level-up and approach investments with greater confidence. Clients can learn at their own pace, whilst keeping themselves abreast of the times and acquiring financial knowledge.
  • Wealth Digest[1]: A personalized series of news, articles and insights on wealth which are updated continually to help clients make informed investment decisions.
  • Money Goal[2]: A personal goal tracking tool that helps clients define financial objectives and track their progress towards these targets.

Alongside this step-by-step guidance providing clients with financial knowledge and resources, Citi Plus® also offers innovative features that engage clients and help them level-up along their financial journey.

  • Deposit: “Citi Interest Booster” enables clients to earn additional bonus interest (up to 1.8% p.a.[3]) on savings by completing simple missions. Beginning with a base interest rate of 0.3% p.a., clients can complete “missions” ­– such as maintaining balance, funding-in, spending with Citi Plus® cards, investment and currency exchange — to boost interest rates up to 1.8% p.a. [3]
  • Investment[4]: Citi Plus® offers a reliable investment platform that allows clients not only to trade stocks, but also to invest in mutual funds. With progressive self-learning resources and low investment thresholds, clients have the flexibility to choose their investment options.

o “Flexi Wealth” allows clients to start investing in money market funds with as little as HK$1, and to conduct transactions at their convenience, without any transaction charges or monthly service fees.

o Our suggested mutual fund portfolios based on clients’ financial goals and risk profiles will also be offered, featuring mutual funds primarily from Aberdeen Standard Investments, Allianz Global Investors and Franklin Templeton at a minimum of HK$100, thus giving clients a hassle-free investment experience.

  • Spending: Citi Plus® Debit Mastercard® and Citi Plus® Credit Card bring clients a world of privileged shopping rewards while spending with these cards also boosts their saving interest rate by 0.3% p.a [3].

o Spending with Citi Plus® Debit Mastercard® offers up to 1% cashback[5], and with Citibank Global Wallet, clients can exchange foreign currencies at preferred rates[6], and then spend with the debit card for online/ in-store shopping and withdraw cash overseas directly with foreign currency accounts. Citi does not charge any handling fees[7] for cash withdrawals made with the card at any overseas ATMs (including Citi and Mastercard® ATMs).

o Citi Plus® Credit Card is tailor-made for Citi Plus® clients and has no annual fee. Payments for online shopping and fitness memberships can earn up to 3X reward points, while clients can also instantly offset spending anytime with Citi Pay with Points and get free purchase protection insurance.

  • One App to do it all: Citi Mobile® App enables clients to transfer funds, invest, spend, and more at their fingertips. In-app messaging is also available 24/7 to offer customer support promptly.

From now until April 30, clients can team up with their families and friends to join Citi Plus® to unlock an additional bonus savings rate of up to 6% p.a. [8] via ‘Citi Interest Booster’. For more information, please visit https://www.citibank.com.hk/english/banking/citi-plus/.

###

Investment in derivatives involves risks. Investors should understand the nature of the products before they make investment decisions.

To borrow or not to borrow? Borrow only if you can repay.



[1] “Wealth Digest” will be available soon, please visit citibank.hk/citiplus for updates.

[2] “Money Goal” will be available soon, please visit citibank.hk/citiplus for updates.

[3] Terms and Conditions for Citi Interest Booster: https://www.citibank.com.hk/english/banking/pdf/interest-booster-tnc.pdf

[4] Customer can enjoy the investment services by opening the investment accounts via the app separately.

[5] Enjoy up to 1% cash rebate for every point-of-sale purchase or online purchase for the first 6 months of card issuance, and up to 0.5% thereafter.

[6] Citibank Global Wallet supports 12 currencies: AUD, CAD, CHF, CNY, EUR, GBP, HKD, JPY, NZD, SGD, THB and USD. Before shopping at overseas shops or online, prepare sufficient foreign currencies in the account and this service will select the corresponding currency and directly debit from the account when the client spends. Citibank will not charge the foreign currency handling fee.

[7] For overseas withdrawals made with Global Wallet, the withdrawal amount, together with any surcharge levied by the overseas ATM operator, will be directly deducted from the relevant foreign currency account. For overseas withdrawals not made with Global Wallet, Citi does not charge any flat handling fee and charges a conversion spread up to 2.4% of the Hong Kong Dollar equivalent amount which includes the withdrawal amount and any surcharge levied by the overseas ATM operator. Please refer to the fees and charges for details.

[8] Terms and Conditions apply.

About Citi

Citi, the leading global Bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube:

www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi |

LinkedIn: www.linkedin.com/company/citi.

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Hong Kong Productivity Council and Hong Kong Computer Society Sign Pact to Enhance the Adoption of Emerging Technologies in Hong Kong

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HONG KONG SAR – Media OutReach – 22 February 2021 – The Hong Kong Productivity Council (HKPC) and the Hong Kong Computer Society (HKCS) today signed a Memorandum of Understanding (MoU) to form a strategic partnership in driving the adoption of emerging technologies in Hong Kong.

Mr Mohamed Butt, Executive Director of HKPC (left), and Ir Dr Ted Suen, MH, President of HKCS, sign a Memorandum of Understanding in which HKPC and HKCS will form a strategic partnership in driving the adoption of emerging technologies in Hong Kong.

Under the two-year arrangement, HKPC and HKCS will collaborate on talent development, education and promotion for emerging technologies to support the industry demand with focus in the areas of 5G, artificial intelligence (AI), cloud computing, cyber security, data analytics, Internet of Things (IoT) and robotics. This collaboration also signals HKPC’s relentless drive to invest in and build technologies that matter for Hong Kong in areas including reindustrialisation, SME and start-up support, intelligent manufacturing, digitalisation and cyber security, FutureSkills and smart and green living. HKCS members and local IT professionals will definitely benefit from this collaboration.

Mr Mohamed Butt, Executive Director of HKPC, said, “Being the expert of Industry 4.0 and Enterprise 4.0, HKPC has a team of technical professionals with a good grasp of technology research and development and advanced technologies such as IoT, big data analytics, AI and robotics, smart manufacturing. Our professional knowledge and acute technology sense will certainly help achieve more effective use of this collaboration.”

Dr Ted Suen, MH, President of HKCS, said, “With the continuous expansion of emerging technologies such as 5G and AI, coupled with the impact of the COVID-19 pandemic, many enterprises need to accelerate digital transformation to meet actual situation needs. The signing of the MoU will further strengthen collaboration between both parties, especially in the promotion of the application of emerging technologies.”

HKPC will set out a framework with HKCS to promote technology training courses organised by HKPC to its members and offer its government funding advisory support through SME ReachOut. HKCS, in turn, will recognise the relevant technology training courses offered by HKPC as continuing professional development activities and share the insights of the skills demand from the industries for HKPC to design training courses. Both sides also pledge to jointly promote and co-organise events related to emerging technologies such as seminars, webinars and workshops.

To mark the launch of the new collaboration, a webinar was held today with HKPC and HKCS experts sharing their insights of the Agile approach, intelligent automations and how they could enable enterprises to accelerate digital transformation.

About Hong Kong Productivity Council

The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through integrated advanced technologies and innovative service offerings to support Hong Kong enterprises. HKPC is the champion and expert in facilitating Hong Kong’s reindustrialisation empowered by i4.0 and e4.0 — focusing on R&D, IoT, big data analytics, AI and Robotic technology development, digital manufacturing, etc., to help enterprises and industries upgrade their business performance, lower operating costs, increase productivity and enhance competitiveness.


The Council is a trusted partner with comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhanced competitiveness in both local and international marketplace. It offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, accompanying them on their innovation and transformation journey.


In addition, HKPC partners and collaborates with local industries and enterprises to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation and technology transfer, with commercialisation of multiple market-driven patents and technologies, bringing enormous opportunities abound for licensing and technology transfer, both locally and internationally.


For more information, please visit HKPC’s website: www.hkpc.org.


About Hong Kong Computer Society


Founded in 1970, the Hong Kong Computer Society (HKCS) is a recognised non-profit professional organisation focused on developing Hong Kong’s Information Technology (IT) profession and industry. Their members come from a broad spectrum of Hong Kong’s IT community, from corporations to like-minded individuals, all coming together to raise the profile and standards of the IT profession and industry. As a well-established IT professional body, the Society is committed to professional and industry development as well as community services to ensure the IT sector continues to make a positive impact on peoples’ lives with three main goals, namely, 1) talent cultivation and professional development, 2) industry development and collaboration, and 3) the effective use of IT in our community.

For more details, please visit HKCS’s website http://www.hkcs.org.hk

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Long-term visas and paths to citizenship to accelerate growth in Abu Dhabi’s priority sectors   SINGAPORE – Media OutReach –...

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Voluntary Announcement: IND Approval Received for A Phase III Clinical Trial of OT-101 in the United States

HONG KONG SAR – Media OutReach – 22 February 2021 – This announcement is made by Ocumension Therapeutics (the “Company“,...

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Citi Plus® Official Launch Ceremony

HONG KONG SAR – Media OutReach – 22 February 2021 Photo 1 Mr Lawrence Lam, Consumer Business Manager of Citibank...

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Hong Kong Productivity Council and Hong Kong Computer Society Sign Pact to Enhance the Adoption of Emerging Technologies in Hong Kong

HONG KONG SAR – Media OutReach – 22 February 2021 – The Hong Kong Productivity Council (HKPC) and the Hong...

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Citibank Officially Launches Citi Plus®

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Kerry Logistics Network Extends Winning Streak at the Quamnet Outstanding Enterprise Awards for Sixth Year Running

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