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B&W Addresses NYSE Listing Standards

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Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that on November 27, 2018, it received notification from the New York Stock Exchange (“NYSE”) that the Company has fallen below its continued listing criteria based on the price of B&Ws common stock. As of November 29, 2018, the average closing price of B&Ws common stock was $0.96 over a consecutive 30-day trading period.

The Company has a period of six months from the date of notification, with a possible extension, to bring the 30-day average closing share price back above $1.00. Under NYSE rules, B&W’s common stock will continue to be listed on the NYSE during this period, subject to the Company’s compliance with other NYSE continued listing requirements. B&W plans to notify the NYSE that it intends to cure the deficiency, although there can be no assurance that the Company will be able to bring its share price back above $1.00 or will remain in compliance with other NYSE continued listing standards. The NYSE notification does not affect the Companys business operations or its Securities and Exchange Commission reporting requirements and does not conflict with or cause an event of default under any of the Companys material debt or other agreements.

About B&W

Headquartered in Barberton, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to our strategic objectives; our business execution model; managements expectations regarding the industries in which we operate; our guidance and forecasts; our projected operating margin improvements, savings and restructuring costs; covenant compliance; and project execution. These forward-looking statements are based on managements current expectations and involve a number of risks and uncertainties, including, among other things, our ability to continue as a going concern; our ability to obtain and maintain sufficient financing to provide liquidity to meet our business objectives, surety bonds, letters of credit and similar financing; our ability to satisfy the liquidity and other requirements under U.S. revolving credit facility as recently amended, including our ability to receive concessions from customers on our Renewable energy loss contracts; our ability to regain compliance with the NYSEs continued listing criteria; the highly competitive nature of our businesses; general economic and business conditions, including changes in interest rates and currency exchange rates; general developments in the industries in which we are involved; cancellations of and adjustments to backlog and the resulting impact from using backlog as an indicator of future earnings; our ability to perform contracts on time and on budget, in accordance with the schedules and terms established by the applicable contracts with customers; failure by third-party subcontractors, joint venture partners or suppliers to perform their obligations on time and as specified; our ability to realize anticipated savings and operational benefits from our restructuring plans, and other cost-savings initiatives; our ability to successfully address productivity and schedule issues in our Renewable segment, including the ability to complete our Renewable energy projects within the expected time frame and the estimated costs; our ability to successfully partner with third parties to win and execute renewable contracts; changes in our effective tax rate and tax positions; our ability to maintain operational support for our information systems against service outages and data corruption, as well as protection against cyber-based network security breaches and theft of data; our ability to protect our intellectual property and renew licenses to use intellectual property of third parties; our use of the percentage-of-completion method of accounting; our ability to successfully manage research and development projects and costs, including our efforts to successfully develop and commercialize new technologies and products; the operating risks normally incident to our lines of business, including professional liability, product liability, warranty and other claims against us; changes in, or our failure or inability to comply with, laws and government regulations; actual or anticipated changes in governmental regulation, including trade and tariff policies; difficulties we may encounter in obtaining regulatory or other necessary permits or approvals; changes in, and liabilities relating to, existing or future environmental regulatory matters; changes in actuarial assumptions and market fluctuations that affect our net pension liabilities and income; potential violations of the Foreign Corrupt Practices Act; our ability to successfully compete with current and future competitors; the loss of key personnel and the continued availability of qualified personnel; our ability to negotiate and maintain good relationships with labor unions; changes in pension and medical expenses associated with our retirement benefit programs; social, political, competitive and economic situations in foreign countries where we do business or seek new business; the possibilities of war, other armed conflicts or terrorist attacks; and the willingness of customers and suppliers to continue to do business with us on reasonable terms and conditions. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, see B&Ws filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

Investor Contact:
Megan Wilson
Vice President,
Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944
| [email protected]

Media Contact:
Ryan Cornell
Public Relations
Babcock
& Wilcox
330.860.1345 | [email protected]

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NHK WORLD-JAPAN to explore Mega-Tsunami

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10 years after: First-hand footage, insights, eyewitness reports

 

TOKYO, JAPAN – Media OutReach – 5 January 2021 – NHK WORLD-JAPAN, the 24-hour international English-language TV channel from Japan’s public broadcaster NHK, will show an exclusive 2-part series on the devastating tsunami which shocked the world.

 [View Image]

On March 11, 2011 at 2:46 pm, an M9 earthquake off the Pacific coast of Japan triggered a huge tsunami, flooding 650 km of coastline, destroying many cities and towns and claiming the lives of over 18,000 victims. With footage filmed at the centre of the disaster, the documentary “3/11 – The Tsunami” will give a first-hand look into people’s experiences on that day and the hardships they were faced in the aftermath.

 

The footage filmed in 2011 and 2012 by NHK and eyewitnesses in the disaster-hit areas have been collected and edited together in chronological order to convey the impact of this unprecedented disaster, which crushed buildings and cars and led to nuclear meltdowns at the Fukushima Daiichi power plant.

 

Episode 1 focuses on the first three days while episode 2 covers the first year after the disaster. The series also serves as a valuable lesson: In the event of a powerful tsunami, what action can be taken to survive?

 

“3/11 – The Tsunami” on NHK WORLD-JAPAN

Episode 1: The First 3 Days

January 9th 1:10 / 7:10 / 13:10 / 19:10 / January 15th 20:00 (UTC)

Episode 2: The First Year

January 16th 1:10 / 7:10 / 13:10 / 19:10 / January 22nd 20:00 (UTC)

 

https://www3.nhk.or.jp/nhkworld/en/tv/worldprime/20210109/3016087/

About NHK WORLD-JAPAN

NHK (Japan Broadcasting Corporation) is Japan’s sole public broadcaster, operating the nation’s largest domestic and international television network. In Japan, NHK broadcasts six TV channels including 4K and 8K along with three radio stations. NHK also transmits two international television channels, NHK WORLD-JAPAN (English, HD, 24/7) and NHK WORLD PREMIUM (Japanese, HD, 24/7), as well as international radio services in 18 languages.

NHK WORLD-JAPAN reaches over 380 million households in 160 countries and regions via local satellite and cable TV providers. Online live streaming and VOD (video-on-demand) services through the free mobile app and the website give viewers access to NHK WORLD-JAPAN anywhere and anytime. You can also connect with our programs through Apple TV and Amazon Fire TV. Presenting an extensive range of Asia-centred programming, NHK WORLD-JAPAN is your window to Japan, Asia, and the rest of the world. For more details, visit https://nhk.jp/world

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NEFIN in Partnership with Hong Kong Baptist Theological Seminary (HKBTS) Embrace Carbon Neutrality for a Green Campus

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316 Solar Panels Built on 6 Rooftops of HKBTS Campus Buildings

 

HONG KONG SAR – Media OutReach – 5 January 2021 – NEFIN, a leading solar developer and investor in carbon neutrality solutions in Asia, is pleased to announce the implementation of four holistic solar PV systems in the main campus of Hong Kong Baptist Theological Seminary (HKBTS), one of the established seminaries in Hong Kong.  The four solar PV systems cover six rooftops in the campus.

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“It is our pleasure and honour to work with HKBTS to transform their extensive building rooftops into highly-effective solar energy generating fields. Despite social unrest and the outbreak of COVID-19, the project was brought seamlessly to completion.  The NEFIN-HKBTS partnership is exemplary of the flexibility, expertise and operational skills of NEFIN as well as the trust that HKBTS has in us.We are proud to share this piece of positive news to kick off 2021.” said Clara Kwan, COO of NEFIN Group.

The 316 solar PV panels installed can generate approximately 152,559 kWh annually, offsetting 78 tons CO2 emission per year. The scale of this installation would be equivalent to planting 1,297 trees for the earth.

“A Green and Glossy Gospel: God’s creative love is extended to all God’s creations, calling God’s followers to bear the responsibilities for nature and to testify to the reconciliation and peace of the universe.” commented by President Cho of HKBTS.

“NEFIN has successfully completed several projects around Asia in 2020, amidst the challenges of the pandemic. One of the NEFIN’s beliefs is that the effort to achieve carbon neutrality should not be halted as a result of current temporary setbacks. With another challenging year ahead, enterprises should be prepared for future climate challenges, which may be sooner or least expected, like the COVID19 pandemic,” commented Mr. Glenn Lim, CEO of NEFIN.

About HKBTS

Established in 1951, the HKBTS was founded on Baptist heritage. The objective of the Seminary is to cultivate servant leadership in those called by God to serve the churches in face of social and global challenges. In addition to the Ministerial Preparation Program and Graduate School, the Seminary offers Distance Education Program, Lay Leadership Training Program, Pastoral Continuing Education Program, and Music and Art Education Program. For further information, visit www.hkbts.edu.hk.


About NEFIN Group


NEFIN Group is a regional renowned solar developer with bespoke experience in solar system deployment and a committed partner to organisations that aim to achieve carbon neutrality. Founded by a core management team of DuPont Solar Business, legal experts, and investment bankers, NEFIN Group has collectively delivered over 300MW of utility-scale, commercial, and industrial rooftop solar systems regionally. The group offers consulting services such as due diligence, feasibility studies, and lender-technical advice on top of project development, system design, engineering, and asset management. NEFIN Group also offers flexible financing options to partners who opt for zero investment. Please refer to NEFIN’s website www.nefinco.com  for more information.

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Suncity Group Announces 2021 Outlook

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Striding Towards a Bright Future

 

MACAU – Media OutReach – 5 January 2021 – Under the impact of the COVID-19 pandemic, 2020 was a very difficult year for the world. In the face of the severe challenges, Suncity Group has been working hard to achieve its vision of sustainable development in all areas. With its philosophy of “Innovating With Diversity, Striving For Success”, the Group strives to develop its business in the fields of VIP services, entertainment, global tourism, food and beverage, luxury fashion, etc., and is committed to becoming a leading integrated resort operator, with the expansion of its global hotel and resort management business as its core focus. At the same time, as an enterprise rooted in Macao and backed by our motherland, it is one of Suncity Group’s priorities to promote Macao as the “Creative City of Gastronomy”. With this in mind, the Group has actively and successfully expanded its food and beverage business to the Mainland, promoting cooperation between enterprises of Macao and of the Mainland. Also, HOIANA, the Group’s feature project in Vietnam, will serve as a bridge to introduce Vietnam’s culture of gastronomy to the Mainland, in response to national policies of “going global” and “bringing in”.

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HOIANA, Suncity Group’s first integrated resort set to open its doors in 2021

Tigre de Cristal will focus on developing local Russian clientele, Japanese and Korean travellers as the target source market

[View Image]

Suncity Group prepares to further expand its food and beverage business in the Mainland

Suncity Group is committed to bringing in the finest food culture to the Mainland

 

Leveraging on its experience in resort and hotel management, Suncity Group has been actively expanding its global hotel and resort management business and marching towards the goal of becoming an internationally renowned integrated resort operator. Year 2021 will see the grand opening of the Group’s first integrated resort HOIANA, with all facilities set to open their doors at the same time. Among the wide array of facilities included the entertainment facilities of Hoiana Suncity, the golf course of Hoiana Shores designed by renowned architect Robert Trent Jones Jr., and the 4 luxury hotels managed and operated by Rosewood Hotel Group – Hoiana Hotel & Suites, New World Hoiana Hotel & Residences, KHOS Hoiana and Rosewood Hoi An, offering over 1,000 guest rooms.

 

Located in central Vietnam, the integrated resort HOIANA is only 40 km away from the Da Nang International Airport, with its 3-km coastline and a stunning sea view. The first phase of HOIANA covers an area of over 165 hectares, with the second phase project commencing in 2021. Utilizing its unique coastline, the next phase of the resort will focus on increasing the number of guest rooms as well as the expansion of retail areas, including beach resorts and a Vietnamese Village. Future developments also include facilities such as water and adrenaline park, observation deck, etc., all with the aim to create the finest entertainment hub of Southeast Asia. At the same time, taking advantage of its geographical location, HOIANA will target at bringing in tourists from Southeast Asia as its main source markets in the future. Suncity Group believes that HOIANA will bring significant revenue and sustainable development prospects, and is a demonstration of its determination to gradually evolve into an integrated resort operator and actively expand its resort management business.

 

In addition, through Suncity Group Holdings Limited (1383.HK), Suncity Group is now the single largest shareholder of Summit Ascent Holdings Limited (102.HK), and participates in both operations of Tigre de Cristal Resort Phase I in Vladivostok, Russia and the development of the resort’s second phase. Currently, Tigre de Cristal Phase I is the largest integrated resort in Russia, with a positive trend in business and revenue growth driven by the local Russian clientele. Set to open for preview in late 2022 and grandly open in 2023, the Phase II development project will also commence in 2021, doubling the number of entertainment facilities as well as tripling the number of guest rooms. The project will also add to the resort 4 new restaurants and bars, premium outlet and duty free shopping, multi-functional area, and a beach club and spa. Thanks to its prime location in Northeast Asia, Tigre de Cristal will be well suited for Japanese and Korean travellers. In the future, the Group will focus on developing local Russian clientele, while introducing Japanese and Korean travellers to the resort as the target source market.

 

Through the acquisition of Suntrust Home Developers, Inc. (Stock Code: SUN:PM), Suncity Group is also actively engaging in the development of the Westside City Integrated Resort in the heart of Entertainment City in Manila, Philippines. The project covers an area of over 20 hectares and is set to open its doors before 2023, creating the hub of entertainment of Philippines together with our local partners.

 

Moreover, Suncity Group is expanding into East Asia to further target at Japanese and Korean travellers, with plans to develop resorts in Miyako Island of Okinawa and Niseko of Hokkaido in Japan, with construction to begin in 2021. The Group plans to build a resort hotel in the Yonaha Maehama Beach Area, which is known as “the most beautiful beach in the East”, in Miyako Island of Okinawa, Japan and is expected to complete in 2023. The resort will provide 100 hotel rooms and 40 private villas with their own pools, as well as a variety of special water sports, including stand-up paddling, snorkelling and deep diving. In addition, the Group plans to build a luxury resort in Niseko of Hokkaido, Japan, which owns the reputation as one of the “Top 10 Ski Resorts in the World”. With development plans in the works in 2021, the project will cover an area of approximately 20 hectares, combining the natural beauty of Niseko and convenient leisure amenities. The completion of these new integrated resorts will serve as a testament to Suncity Group’s determination to become Asia’s leading integrated resort operator and an enterprise rooted in Macao that is actively responding to the national policy of “going global”.

 

Adhering to the spirit of patriotism, Suncity Group has been actively supporting the policy of the Macao Special Administrative Region Government, placing the development of the Motherland as our top priority. Through the business expansion of Sun Food and Beverage in the Mainland, Suncity Group aims to bring in the best of foreign cultures and contribute to the country’s prosperity. Since last year, Sun Food and Beverage established 8 restaurants in Chengdu and Chongqing, including “Danang Vietnamese Cuisine”, “Pho Thuy”, “Bangkok Cock” and “Đồ ăn vỉa hè Hoi An Danang”. Together with HOIANA, invested by Suncity Group Holdings Limited in Central Vietnam, the Group strives to introduce Vietnam’s culture of gastronomy to the Mainland.

 

In order to further expand its footprint in the Mainland, Sun Food and Beverage is preparing to open more quality branded restaurants in 2021. In the meantime, Sun Food and Beverage has successfully created new cooperation opportunities for the catering industry in Macao and the Mainland by taking initiative to organise investment visits to the Mainland. Currently, Sun Food and Beverage is actively supporting the “Luzu Temple District Renovation Project” of Chongqing as the company plans to open at the site more branded restaurants presenting Vietnamese cuisine, not just to increase company revenue, but also to help reinvigorate the old district. In addition, Sun Food and Beverage is preparing to set up a joint venture with Macao’s catering industry and open 3 restaurants in the area, bringing Macao-style hot pot, Portuguese cuisine and local desserts to Chongqing. This move not only enriches Mainland’s catering market, but is also a way to support the Macao Special Administrative Region Government’s core effort to promote Macao as “Creative City of Gastronomy”.

 

In the entertainment sector, Sun Entertainment Culture Limited has been actively expanding its entertainment-related businesses, covering film productions, online films, concerts and other commercial performing arts. In 2021, Sun Entertainment Culture Limited will expand its footprint in Southeast Asia through its subsidiaries in Japan and Malaysia, and is also enthusiastically preparing for the full recovery of the film industry this year. Currently, productions of film and TV drama invested by the Group from last year have been completed and are scheduled to be released in 2021, including “Limbo” starring Gordon Lam, which is scheduled to participate in international film festivals, “Dust to Dust” starring Gordon Lam and Da Peng, “Mom, Don’t Do That” produced by and starring Alyssa Chia. In addition, Sun Entertainment Culture Limited will be producing Macao’s first action and car racing film this year, with Han Han as producer of the film. For the acclaimed films “SPL: Sha Po Lang” and “Paradox”, production of the sequels “SPL III: War Needs Lord” and “Paradox II” will also begin in 2021.

 

As Alvin Chau, Chief Executive Officer and Director of Suncity Group stated, the tough year 2020 is now in the past. With the new COVID-19 vaccines being distributed worldwide, the global economy is expected to soon recover, which will be conducive to a strong growth of the motherland and Macao’s social, economic and tourism sectors in 2021. At the same time, staying true to the core values of patriotism, he understands that the prosperity of Macao and the country are inextricably linked. In the future, Suncity Group will continue to look forward to a prosperous future together with the country and Macao by vigorously upholding and following the long-term direction of the country in all aspects.

 

High-resolution images can be downloaded in the gallery:

https://dropbox.suncity-group.com/url/ztw4svj4hfr3hcs4

 

About Suncity Group

Suncity Group was founded in 2007. Since establishment, Suncity Group has been striving to provide the extraordinary VIP entertainment service for our guests, and we then opened a number of VIP Clubs in various 6-star hotels and resorts throughout Macau with the rapid growth of our business. Meanwhile, we successively set up exclusive VIP Clubs in Manila, Seoul, Incheon, Phnom Penh and Da Nang, etc.

 

Adhering to the spirit of “Innovating With Diversity, Striving For Success”, Suncity Group spared no effort to develop high-end entertainment services and products as well as roll out global VIP loyalty program for the selected members to enjoy entertainment, travel, catering services, luxury shopping and motion picture. Today, the scope of our business covers most sectors, especially in the fields of global travel, film production, concert and event planning, catering and luxury goods.

 

As a Macau born and bred enterprise, Suncity Group is not only devoted to develop the Asian market, but also oriented to expand the global network. In the future, we will surely continue to diversify our VIP entertainment services, attract more exclusive members and make every effort to promote our business in every corner of the world.

 

Official Website | www.suncitygroup.com.mo/en

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