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Kingworld Medicines Group Issues Positive Profit Alert for 2021
The positive profit alert was based on preliminary assessment of the unaudited consolidated management accounts of the Group for 2021 and information currently available to the Board. The Board attributes the increase in profit mainly to the market recovering from the COVID-19 pandemic outbreak pushing up the turnover and gross profit of imported branded pharmaceutical and healthcare products distributed in China in 2021 by approximately 45% to 50% and approximately 65% to 70%, respectively, against the previous year. The management of the Company also adopted effective measures against the COVID-19 pandemic outbreak to reduce costs and improve efficiency, thus enhancing the Company's overall competitiveness.
Shenzhen Dong Di Xin Technology Company Limited, Kingworld Medicines' non-wholly owned subsidiary, is a manufacturer producing various medical devices including infrared thermometers. Affected by a drop in sales of anti-Pandemic devices, the company is expected to record an approximately 34% to 39% decrease in profit for 2021 as compared with the previous year.
About Kingworld Medicines Group Limited
Kingworld Medicines (stock code: 01110.HK) has devoted more than 20 years to developing a comprehensive greater health industrial supply chain system. Its business covers over 34 provinces and municipalities in China, and it is among the Top 100 Import Enterprises of Pharmaceutical and Healthcare Products and Top 5 Sales of Imported Chinese Patent Medicine in the country. In-keeping with the new normal of consumption upgrade, it has constructed a complete online and offline new retail ecosystem. Its subsidiary Shenzhen Kingworld Medicines is a reputed distributor of branded pharmaceutical and healthcare products imported from overseas, including Nin Jiom Loquat Herbal Cough Syrup, Taiko Seirogan, Kingworld Imada Red Flower Oil, and Culturelle probiotics from the United States, etc., in the China market.
For further information, please visit http://www.kingworld.com.cn .
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comKingworld Medicines Group Limited (stock code: 01110.HK), a leading omni-channel enterprise providing greater health products and services in China, issued today a positive profit alert as it expects to record an approximately 155% to 160% increase in profit attributable to owners of the Company for 2021, as compared to RMB11.7 million for 2020.
Enhancing Indonesian state-owned enterprises (SOEs) through clustering
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On October 14, 2021, Jokowi stated that he was pleased to witness the clustering of container terminal operator and port development firm Pelindo into one holding, which was PT Pelabuhan Indonesia, to cuts logistics costs and helps improve connectivity throughout Indonesia.
According to Jokowi, the clustering forms into one great power, as it builds networking with partnerships abroad. "Through partnering with overseas companies who have networks, the (SOEs') link to all countries can become a huge power," the president remarked.
Through clustering, SOE companies have shown above-standard or even excellent work performance that has contributed significantly to the state budget.
According to data from the National Development Planning Board (Bappenas) in 2019, the estimated total budget for infrastructure development in the period of 2020-2024 was US$447 million or Rp6,445 trillion, and 21 percent of them came from or supported by SOEs.
In the third quarter of 2021, the total assets of SOEs reached some US$610.5 million or Rp8,767 trillion, equivalent to some 57 percent of Indonesia's GDP.
Moreover, in January - September 2021, the total consolidated revenues were closed at Rp1,613 trillion, or grew 14% compared to the same period in 2020.
One of the efforts to enhance state firms' performances is through clustering and restructuring.
Clustering efforts have been accomplished by reducing the number of SOEs from 107 to 41, and sector clustering from 27 to 12, where two deputy ministers each oversee six clusters.
Currently, there are 12 sectors that 41 SOEs engage in: energy, oil, and gas; mineral and coal; insurance and pension funds services; plantations and forestry; and telecommunications and media.
Additional industries include the food and fertilizer industry, tourism and supporting services, health industry, manufacturing industry, infrastructure, logistics, and financial services.
On February 18, 2022, SOEs Minister Erick Thohir announced that he would again downsize the number of state-owned enterprises from 41 to 37 in the next two years.
In addition, he expressed his hope that the next SOEs Minister can complete the reducing program to only 30 state-owned enterprises. With a roadmap for a ten-year period, he has targeted to make the scope of state firms more manageable.
So far, the ministry has encouraged and carried out the SOEs transformation through reducing companies that are considered too large in number, and focusing on inefficient business sectors.
Under his leadership, the transformation is focused on human capital through replacing underperforming board of directors with better ones, so many state-owned enterprises can generate profits for the state.
Through restructuring, holdings, mergers, and acquisitions, Thohir has made SOEs' work performances more efficient.
According to Thohir, the SOEs Ministry distinguishes the strategy of the three pharmaceutical SOEs, where Bio Farma focuses on vaccines, Kimia Farma is focused on chemicals, and Indofarma on herbs. Indonesia has extraordinary potential in the herbal sector, but it has not been explored, so the SOEs Ministry had tried to re-map the path in developing it.
"We know that we import 90 percent of the raw material for medicines, and even medical devices. The COVID-19 pandemic has woken us up that we need to create a roadmap for Kimia Farma to focus on chemicals and Indofarma to be positioned on herbs," he explained.
Thohir said that since health and energy are under the same SOEs ecosystem, a connection between sectors needs to be built.
On the other hand, oil and gas firm Pertamina has begun to build petrochemicals, and one of the derivatives of petrochemicals is to create paracetamol. If Pertamina is merged with a health state firm into one ecosystem, Indonesia would no longer need to import paracetamol.
The ministry also consolidated and launched the tourism holdings and its sub holdings into one cluster, consisting of airport operator Angkasa Pura I and Angkasa Pura II, as well as some aviation and hotel companies.
Thohir put together the infrastructure construction SOE and cement SOE into one cluster, as he viewed that the two need each other and are expected to synergize.
Meanwhile, the tourism, logistics, and support cluster consists of Hotel Indonesia, temple tourism managing firm PT TWC, which manages the temples of Prambanan and Borobudur and Ratu Boko, and Indonesia Tourism Development Corporation (ITDC).
State-owned Bank Negara Indonesia (BNI) also announced that it relied on clustering to strengthen the distribution of smallholder business credits (KUR), as well as to help boost the productivity of Micro, Small, and Medium Enterprises (MSMEs) during the COVID-19 pandemic.
Moreover, on February 23, three state-owned companies have agreed to collaborate on building green industry clusters in Indonesia that will prioritize the efficient and effective use of sustainable resources. The three state firms are electricity company PT Perusahaan Listrik Negara (PLN), oil and gas company PT Pertamina, and fertilizer company PT Pupuk Indonesia.
The clustering efforts began in 2020, as many state firms decided to be merged. Thohir also significantly increased the performance target of SOEs to double their outputs in 2024, especially on profits, which are projected to reach some US$20.8 billion or Rp300 trillion.
To be successful
Performance of banks incorporated in the Association of State-Owned Banks (Himbara) throughout 2021 showed satisfactory results through well-implemented credit restructuring, economist and capital market practitioner Lucky Bayu Purnomo said.
According to Purnomo, credit restructuring has resulted in more efficient and effective management of operational expenditures. In December 2021, the total profit of Himbara banks shot up to US$5 billion or Rp72.05 trillion, significantly increasing by 78.06 percent, compared to 2020 at US$2.8 billion or Rp40.34 trillion.
Thohir said each Himbara bank has a specific business focus, such as BRI prioritizes the MSME and ultra micro-segments, Mandiri is dedicated to enhancing the national corporates and entrepreneurs, BNI on international business, and BTN focuses to reduce backlog numbers and help people, including millennials, to make it easier to purchase a home.
"We hope that Himbara's role can be more prominent and become the main national economic driver through enrichment in various segments that provides positive impacts for stakeholders and Indonesian society," he said.
Previously, SOE holdings that had been formed were plantation holdings under PT Perkebunan Nusantara III, forestry holding under Perum Perhutani, fertilizer holding under PT Pupuk Indonesia, and cement holding under PT Semen Indonesia.
Under Thohir's leadership, the holdings of SOEs that have been completed are the mining holdings under Mining Industry Indonesia (MIND ID), oil and gas holdings under PT Pertamina, pharmaceutical holdings under PT Biofarma, state-owned hospital holdings under Pertamedika IHC, insurance and underwriting holdings Indonesia Financial Group (IFG), and tourism and aviation holdings under Aviasi Pariwisata Indonesia or InJourney.
Fixing SOEs through the establishment of holdings is a task that must be carried out sustainably to yield powerful government-owned corporations that can compete on the international stage.
Photo: ANTARA / HO-Kementerian BUMN / pri
Reporter: Kenzu Tandiah; Editor: Rahmad Nasution (c) ANTARA
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comPresident Joko Widodo (Jokowi) has given a period of one to two years for state-owned enterprises (SOEs) to make fundamental changes to increase their competitiveness.
MART IN METAVERSE: The First-Ever ‘Hong Kong CNY Mart Event’ Landed Metaverse
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2022 is a year of crypto, NFT and blockchain, FEED HK, as a pioneer in content marketing, has collaborated with Kingsan, a game-producing YouTuber who loves Hong Kong culture, to create the first MART IN METAVERSE CNY Mart in Hong Kong, which allows people to experience the CNY Mart 3.0 with a virtual identity (Avatar). MART IN METAVERSE will be held at the virtual platform Cryptovoxels for 9 days from 28th January to 5th February 2022. People can use the virtual identity to walk into the unlimited virtual space and enjoy the immersive interactive experience.
MART IN METAVERSE is divided into three thematic zones, presenting limited edition CNY-themed products, multi-million-dollar NFT art exhibits, FILA pavilion, etc. You can also visit the cherry blossom tree to make a blessing, watch DJ performance at the "Live @FTLife" stage, etc. All the most unexpected things can happen, connect with the world anytime, anywhere, and explore an unprecedented CNY event together.
3 Themed Zones, 3.0 CNY Event Experience
MART IN METAVERSE is divided into three thematic zones: "The Kolture Pavilion", "Fortune Blossom Pavilion" and " Storefriendly presents: NFT Gallery". Visitors can wander around and enjoy the exclusive metaverse experience with their own imagination.
1. The Kolture Pavilion
Kingsan, a YouTuber renowned for designing games with Hong Kong elements, has designed one of the mart venue "Kolture Pavilion", with Hong Kong-style tenement building tong laus, creating a traditional and ultra-modern exhibition building.
The "Kolture Pavilion" is one of the venues of MART IN METAVERSE CNY Mart, in which eight brands will present traditional and innovative Chinese New Year gifts. Kung Lee Herbal Tea, a traditional herbal tea shop founded in 1948, is once again teaming up with Spanish artisanal candy brand PAPABUBBLE to launch a new handmade herbal tea cotton candy, which will be sold for the first time at Mart in Metaverse, as well as products from mosaic and painting brand CASPAR HOUSE, local creative brand Handmadeship, Thai-infused brand INBAAN, UK crispy pork skin brand Mr Porky, Handcrafted sweets brand YASS COOKIES and creative nostalgic iron-casting brand Iron Workshop, all of which are available for customers to shop online and enjoy offline.
In line with the brand proposition of "Think beyond insurance.", FTLife is daring to break conventions and creating innovative services and products. This time, FTLife has extended its brand to the metaverse with the Live @FTLife stage, located on the rooftop of the Kolture Pavillion, where stage performances will be held from time to time. Visitors will be able to experience the concert performances as in at the physical stage. The event will be held in conjunction with Hong Kong's first-ever Hip Hop Music Awards - Whats Good Music Awards to bring more than 10 local DJs and singers to the stage (performance schedule will be announced separately on the event website or social media page). There is also a wish-making interactive mini-game on the rooftop, displaying your New Year's greetings on the big screen to add blessings to your wishes.
2. Fortune Blossom Pavilion
At the center of the "Fortune Blossom Pavilion" sees a gigantic cherry blossom tree to wish good luck for everyone in the new year, under which there are also 8 other creative brands exhibiting trendy and limited-edition gifts. Amongst them are the Beef Brisket Soup by Chef Jacques Kagi from innovative gourmet brand Jacques n Grill; Other participating brands include ZOKU x CheckCheckCin presenting a limited-edition well-being tumbler set; RAZE, a fashionable mask brand; TeaLab, a five elements herbal tea therapy brand; Powcook, a handmade popcorn brand, together with the Chinese casserole poon choi daily freshly made by Dragon Pot.
In addition, local gin brand N.I.P launched a limited edition of "800 million" Year of the Tiger gin wine at the event, which is available for purchase at the N.I.P. bar next to the cherry blossom tree.
The event is also supported by international casual sportswear brand FILA, which showcases a variety of Chinese New Year apparel and online exclusives at the FILA Pavilion. Visitors can also look for an exclusive "Metaverse Promo Code" to redeem a FILA Chinese New Year canvas bag with their purchase.
HKT's mobile network operator csl. will bring you into the virtual world of 5G and metaverse. In addition, csl. will launch a mysterious interactive game under the cherry blossom tree on 1st February, and everyone has a chance to win a mystery gift.
3. Storefriendly Presents: NFT Art Gallery
Storefriendly, Asia's largest mini storage group, is committed to meeting the needs of its customers by providing quality storage space, and this time it has upgraded its storage space to the metaverse!
A number of local and international NFT collectors and brands, including Monkey Kingdom, local NFT brand God of Wealth, local trendy toy brand ZCWO, and French renowned toy-themed designer Juce Gace, are invited to showcase their NFT artworks which worth over one million HK dollars in total. (Please refer to the appendix for details)
God of Wealth NFT is set to mint 3,888 God of Wealth NFTs on the fifth day of the Lunar New Year, 20 of which will be showcased at the NFT Art Exhibition Hall. The brand is also launching "God of Wealth Giveaway 3.0" at MART IN METAVERSE, giving away one God of Wealth NFT (currently worth 0.88 SOL; approximately HK$900) every day for 8 days in a row. Participants only need to answer a simple question and the most creative answer will have a chance to win a NFT! (Please refer to the appendix for details)
Details of "MART IN METAVERSE"
Date: 28 January (Friday) - 5 February (Saturday)
Time: 24/7
Platform: Cryptovoxels
Entry Fee: Free
Website: https://martinmetaverse.io/
About FEED HK | Group 108
FEED HK | Group 108 is an experienced content marketing and event planning company which provides customers with comprehensive, innovative, and valuable business solutions through creativity, different channels and marketing platforms. Website: http://feedhk.com/
About Kingsan
Game-producing YouTuber Kingsan fell in love with video games when he was exposed to video games through his family when he was a child. After making an occasional video game in his teenage time, he became interested and began to run his own YouTube channel mainly with the production of video games and daily life videos. Currently, the number of his followers totals 200,000.
About Crypto voxels
Cryptovoxels is one of the most popular metaverse platforms where players can buy land, create shops and exhibitions, and text-chat with others with their virtual identities after logging in with their Facebook accounts. Its easy login procedures and stable connection attract players from all over the world.
This press release is dispatched by FEEDHK.
For high resolution photos, please visit: https://bit.ly/3rKak26
For details for media, please contact:
Lierence Li
Phone: +852 6110 8495
Email: [email protected]
Rachel Kwan
Phone: +852 9549 6531
Email: [email protected]
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comMART IN HONG KONG, a revolutionary annual event organized by FEED HK at the Central Harbourfront since 2017 and extended to Phygital "Online + Offline" mode last year. This year, the organizer, together with csl., FTLife Insurance Company Ltd (FTLife), FILA, Storefriendly, ZOKU, Kung Lee Herbal Tea and N.I.P and 20 other brands will lead us to the virtual world of metaverse, cross the boundaries of the universe and overturning the traditional thinking to see the unprecedented CNY event.
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