Month: September 2022

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Man of Many Becomes First Australian Publisher to Achieve 100% Carbon Neutral Status

Man of Many — Climate Active Certified

Man of Many — Climate Active Certified

SYDNEY, Sept. 28, 2022 (GLOBE NEWSWIRE) — Australia’s Largest Men’s Lifestyle publication Man of Many — https://manofmany.com — has become the first dedicated digital publisher in the country to achieve a 100% carbon neutral certification under the Federal Government’s Climate Active standard.

Man of Many achieved the certification by establishing a carbon offsetting strategy while further cementing its commitment to reduce emissions in future years with the support of independent consultants Pangolin Associates.

The Climate Active certification is a partnership between the Australian Federal Government and Australian businesses that supports voluntary climate action. According to Climate Active, certification is awarded to businesses that “have credibly reached net zero emissions” by independently calculating their greenhouse gas emissions, reduced these emissions “as much as possible” and have “offset any remaining emissions by purchasing carbon offset units.”

Commenting on the announcement, Man of Many’s co-founder Scott Purcell said, “As we regularly feature and promote sustainable practices, conscious consumption and ethical businesses as part of our news coverage, we felt it was important for Man of Many to stand by these values ourselves and ‘walk the talk.’ We’re extremely proud to be the first digital publisher in the country to be 100% carbon neutral in contributing to a more sustainable future.

“We also felt it was important that we chose a local carbon project that aligns with our values and supports environmental, economic, cultural and social benefits here in Australia.”

As part of the strategy, Man of Many selected a local indigenous carbon project to offset its emissions. The Merepah Fire Project is run through the Aboriginal Carbon Foundation which catalyses life-changing, community prosperity, through carbon farming. The Merepah Fire Project involves strategic fire management, including aerial and ground burning as well as fire suppression to reduce late dry-season wildfires, in turn decreasing carbon emissions. Through the project, Traditional Owners have established sound management and governance and have improved job prospects with career pathways, whether as workers in the cattle industry, as rangers protecting cultural or natural assets, or as fire management operators.

In early 2022, Man of Many conducted a brand rediscovery project to reaffirm its purpose statement, vision, and values. An outcome of this exercise was a renewed emphasis on making positive investments in the community. As a result, Man of Many has made a commitment to significantly raise its environmental, social, and governance standards through active involvement in initiatives that affect real change.

The carbon neutral certification follows the announcement of Man of Many’s partnership with Australian mental health surf therapy charity Waves of Wellness Foundation and an impressive period for the media company, which received Highly Commended recognition in the Media Brand of the Year category at the 2022 Mumbrella Awards, alongside receiving eight nominations for the Mumbrella Publish Awards in 2022.

Purcell commented, “By being part of the collective solution to climate change, which is an important issue for our readers, we are staying true to our values — backing up everything we do with substance and consideration.”

Contact Information:
Scott Purcell
Co-Founder
scott@manofmany.com
+61403496680

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AGF Management Limited Reports Third Quarter 2022 Financial Results

TORONTO, Sept. 28, 2022 (GLOBE NEWSWIRE) —

  • Reported diluted earnings per share of $0.32
  • Mutual fund net sales of $51.0 million for the quarter
  • Announces intention to launch a substantial issuer bid
  • Announced quarterly dividend of $0.10 per share

AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the third quarter ended August 31, 2022.

AGF reported total assets under management and fee-earning assets1 of $39.6 billion compared to $40.3 billion as at May 31, 2022 and $43.4 billion as at August 31, 2021. “Through another quarter of heightened market uncertainty, we continued to deliver strong investment performance that can be attributed to our disciplined processes and focus on risk management and saw the benefits of our unique liquid alternative strategies,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF.

“Additionally, we have continued to execute against our strategic imperatives, while looking for opportunities to redeploy capital to deliver continued value to our shareholders and are committed to doing this by considering small acquisitions and partnerships, and returning value to our shareholders through funding share buybacks,” added McCreadie.

The Board has authorized AGF to use up to $40 million of cash in order to return capital to its shareholders through a substantial issuer bid made to all holders of AGF’s Class B non-voting shares (the “Offer”). The Offer may be at a premium to the then-current market price of the Company’s Class B non-voting shares. Holders of the Company’s Class A voting shares and insiders of AGF are not expected to participate in the Offer. Subject to market and other conditions, AGF anticipates that the terms of the Offer will be finalized in early October, with the Offer expected to be completed in November 2022.

AGF’s mutual fund gross sales were $594 million for the quarter compared to $790 million in the comparative period, while net sales were $51 million compared to $288 million in the comparative period. AGF’s sales have continued to outpace the industry. During the quarter the industry2 reported net redemptions, while AGF mutual funds remained in net sales.

“As we marked our eighth consecutive quarter of mutual fund net sales, we focused on our strong performance, advancing discussions with key clients and partners and diversifying our relationships across channels,” said, Judy Goldring, President and Head of Global Distribution, AGF. “At the same time, we reconnected with our employees as we transitioned to our new home at CIBC SQUARE and committed to a hybrid model that supports work-life balance. We believe the energy we gain from collaboration and being together in person will serve as a catalyst for our continued success.”

AGF also announced today that Adrian Basaraba, Senior Vice President and Chief Financial Officer, has informed the Company of his decision to leave his position as AGF’s Chief Financial Officer to pursue other opportunities; and that Jenny Quinn has been appointed Interim Chief Financial Officer (CFO), effective September 29th, following AGF’s third quarter reporting cycle.

During his tenure, Adrian contributed to major advances in AGF’s business operations and the successful management of AGF’s capital and liquidity. Coming out of the pandemic with AGF’s finances in solid, stable position, and with strategic priorities progressing positively against plan, Mr. Basaraba felt the timing was right for him to make this career change. Mr. Basaraba and AGF have agreed that he will remain with the Company in an advisory capacity to facilitate the transition of his responsibilities through November 30, 2022.

Mr. Basaraba joined AGF in 2004 and was appointed Chief Financial Officer of AGF Management Limited in July 2016. Ms. Quinn has been with AGF for 15 years and currently serves as the organization’s Chief Accounting Officer. A search process for the new CFO has been initiated.

1 Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.
2 Long-term funds.

Key Business Highlights:

  • AGF appointed Cybele Negris, CEO and Co-Founder of Webnames.ca Inc., to the AGF Board of Directors effective September 27, 2022. As an accomplished tech entrepreneur and seasoned board member, she further diversifies the collective experience, expertise and perspective of AGF’s Board.
  • AGF International Advisors Company Limited, a subsidiary of AGF, was once again accepted as a signatory to the UK Stewardship Code, a best-practice benchmark in investment stewardship. This stands as a testament to the rigor of AGF’s responsible investing practices.
  • As of August, AGF has successfully onboarded its SMA strategies on Vestmark, SMArtX Advisory Solutions LLC and Envestnet, three of the leading U.S. turnkey asset management platforms.
  • As AGF’s business continues to evolve, AGF has launched an enhanced brand architecture to better reflect the diversity and reach of its three distinct business lines across the public and private markets: AGF Investments, AGF Private Capital and AGF Private Wealth.
  • During the quarter, AGF moved to its new head office at CIBC SQUARE. The state of the art building has provided employees with a flexible workspace, enhanced collaboration and greater communication, while continuing to advance the reduction of the firm’s office footprint by approximately 22%.
  • As at August 31, 2022, AGF outperformed its one-year and three-year investment targets with average percentiles of 39% (target 50%) and 34% (target 40%), respectively, with 1st percentile being best possible performance.
  • The firm remained active under its Normal Course Issuer Bid (NCIB). During the quarter, AGF repurchased 726,400 AGF.B shares for cancellation.
  • On September 27, 2022, AGF’s Board of Directors approved a quarterly dividend of $0.10 for shareholders of record on October 12, 2022.

Financial Highlights:

  • Management, advisory, administration fees and deferred sales charges were $105.6 million for the three months ended August 31, 2022, compared to $112.4 million in 2021. The decrease in revenue is attributable to a 3.9% decrease in average mutual fund assets under management as a result of market volatility.
  • Selling, general and administrative costs were $46.4 million for the three months ended August 31, 2022, compared to $50.1 million in 2021.
  • EBITDA before commissions for the three months ended August 31, 2022 was $33.2 million, compared to $37.5 million in the prior year comparative period.
  • Effective June 1, 2022, the elimination of the payment of upfront sales commissions, including deferred sales charge options, took effect. During the three and nine months ended August 31, 2022, AGF paid commissions of nil and $37.1 million, respectively.
  • Net income for the three months ended August 31, 2022 was $22.1 million ($0.32 diluted EPS), compared to $14.9 million ($0.21 diluted EPS) in the prior year comparative period. Diluted EPS in the quarter of $0.32 reflects the impact of the elimination of  DSCs.
Three months ended Nine months ended
August 31, May 31, August 31, August 31, August 31,
(in millions of Canadian dollars, except per share data) 2022 2022 2021 2022 2021
Income
Management, advisory, administration fees and deferred sales charges $ 105.6 $ 113.1 $ 112.4 $ 332.8 $ 323.9
Share of profit (loss) of joint ventures – (0.2) 2.2 (0.9) 3.1
Other income from fee-earning arrangements 0.7 0.7 0.7 2.2 1.1
Fair value adjustments and other income 6.2 3.9 7.8 20.7 11.7
Total Income $ 112.5 $ 117.5 $ 123.1 $ 354.8 $ 339.8
Selling, general and administrative 46.4 47.3 50.1 143.0 145.2
Deferred selling commissions – 17.8 14.1 37.1 47.4
EBITDA before commissions1 33.2 35.4 37.5 108.5 92.2
EBITDA 33.2 17.6 23.4 71.4 44.8
Net income 22.1 10.1 14.9 45.1 25.5
Diluted earnings per share 0.32 0.14 0.21 0.64 0.35
Free cash flow1 20.6 12.3 21.5 46.2 42.4
Dividends per share 0.10 0.10 0.09 0.29 0.25
(end of period) Three months ended
August 31, May 31, February 28, November 30, August 31,
(in millions of Canadian dollars) 2022 2022 2022 2021 2021
Mutual fund assets under management (AUM)2 $ 22,496 $ 22,849 $ 23,625 $ 24,006 $ 23,792
Institutional, sub-advisory and ETF accounts AUM 7,932 8,114 8,751 9,082 10,041
Total AGF Investments AUM 30,428 30,963 32,376 33,088 33,833
AGF Private Wealth AUM 7,000 7,204 7,410 7,366 7,334
AGF Private Capital AUM 60 58 69 73 99
Total AUM $ 37,488 $ 38,225 $ 39,855 $ 40,527 $ 41,266
AGF Private Capital fee-earning assets3 2,067 2,052 2,100 2,108 2,094
Total AUM and fee-earning assets3 $ 39,555 $ 40,277 $ 41,955 $ 42,635 $ 43,360
Net mutual fund sales2 51 132 330 352 288
Average daily mutual fund AUM2 22,207 23,183 24,075 23,896 23,104

1 EBITDA before commissions (earnings before interest, taxes, depreciation, amortization and deferred selling commissions), adjusted EBITDA before commissions, adjusted net income, adjusted diluted earnings per share and Free Cash Flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at www.agf.com.
2 Mutual fund AUM includes retail AUM, pooled fund AUM and institutional client AUM invested in customized series offered within mutual funds.
3 Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.

For further information and detailed financial statements for the third quarter ended August 31, 2022, including Management’s Discussion and Analysis, which contains discussions of non-IFRS measures, please refer to AGF’s website at www.agf.com under ‘About AGF’ and ‘Investor Relations’ and at www.sedar.com.

Conference Call

AGF will host a conference call to review its earnings results today at 11 a.m. ET.

The live audio webcast with supporting materials will be available in the Investor Relations section of AGF’s website at www.agf.com or at https://edge.media-server.com/mmc/p/vxofe4c8. Alternatively, the call can be accessed toll-free in Canada by dialing 1 (866) 455-3403 (PIN: 96087375#), or in the United States by dialing 1 (866) 374-5140 (PIN: 96087375#).

A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm delivering excellence in investing in the public and private markets through its three distinct business lines: AGF Investments, AGF Private Capital and AGF Private Wealth.

AGF brings a disciplined approach focused on providing an exceptional client experience and incorporating sound responsible and sustainable practices. The firm’s investment solutions, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams spanning on the ground in North America, Europe and Asia. With approximately $40 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

AGF Management Limited shareholders, analysts and media, please contact:

Courtney Learmont
Vice-President, Finance
647-253-6804, InvestorRelations@agf.com

Caution Regarding Forward-Looking Statements

This press release includes forward-looking statements about the Company, including its business operations, strategy and expected financial performance and condition, and its intention to launch a substantial issuer bid. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects,’ ‘estimates,’ ‘anticipates,’ ‘intends,’ ‘plans,’ ‘believes’ or negative versions thereof and similar expressions, or future or conditional verbs such as ‘may,’ ‘will,’ ‘should,’ ‘would’ and ‘could.’ In addition, any statement that may be made concerning future financial performance (including income, revenues, earnings or growth rates), ongoing business strategies or prospects, fund performance, and possible future action on our part, is also a forward-looking statement. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, business prospects, business performance and opportunities. While we consider these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about our operations, economic factors and the financial services industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us due to, but not limited to, important risk factors such as level of assets under our management, volume of sales and redemptions of our investment products, performance of our investment funds and of our investment managers and advisors, client-driven asset allocation decisions, pipeline, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, technological changes, cybersecurity, the possible effects of war or terrorist activities, outbreaks of disease or illness that affect local, national or international economies (such as COVID-19), natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply or other catastrophic events, and our ability to complete strategic transactions and integrate acquisitions, and attract and retain key personnel. We caution that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Other than specifically required by applicable laws, we are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete discussion of the risk factors that may impact actual results, please refer to the ‘Risk Factors and Management of Risk’ section of the 2021 Annual MD&A.

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U.S. Polo Assn. Launches Global Fall 2022 Collection From Scenic Lake Tahoe

Iconic, Sport-Inspired Lifestyle Brand Celebrates the Season With Soft Silhouettes and Autumn Hues

U.S. Polo Assn.

U.S. Polo Assn.

WEST PALM BEACH, Fla., Sept. 28, 2022 (GLOBE NEWSWIRE) — U.S. Polo Assn., the official brand of the United States Polo Association (USPA), has launched its iconic, sport-inspired Fall Collection for 2022. Resulting in images and video used by U.S. Polo Assn. partners around the world, the brand’s global photoshoot took place in beautiful Lake Tahoe, chosen for the scenic coastline that provided a pristine backdrop against the autumn hues in U.S. Polo Assn.’s newest collection.

This season’s global photoshoot showcases models bundled in lakeside layers on the wooded shores of Lake Tahoe, wearing seasonal trends of warm autumn tones and soft silhouettes surrounded by sparkling water, dense forests, and majestic mountains. The autumnal colors of the Sierra Nevada Mountain range provided amazing images for the U.S. Polo Assn. global photoshoot, showcasing the Fall 2022 Collection to consumers in stores and online around the world. Filled with remixed flannels, denim on denim, puffer vests, and long-sleeve polo shirts, the newest collection brings a fresh take on classic American styling.

“This collection captures the newest inspiration of the season while consistently maintaining our authentic connection to the sport of polo,” said J. Michael Prince, President and CEO of USPA Global Licensing, which manages the global, multi-billion-dollar U.S. Polo Assn. brand. “The launch of the Fall 2022 Collection is an exciting start to the season, as we also announce our participation and support as Official Apparel Partner and Presenting Sponsor of the XII Federation of International Polo (FIP) World Polo Championship this fall, featuring the USA Team as a finalist. This event will be held at the USPA National Polo Center (NPC) — Wellington, which was recently purchased by the USPA earlier this year.”

Touchable texture, color-blocked patterns, and cozy outerwear inspired by rich harvest hues are all standouts in the U.S. Polo Assn. Fall 2022 Collection. Fans of the brand can pair the fall-colored accents of rust, golden oranges and lichen greens with classic neutrals of khaki and indigo to create crisp, classic looks that are perfect for the season. Not to mention, timeless staples such as sweaters, cardigans and denim are all available for men, women and children.

“The Fall 2022 Collection is just as fresh and exciting as it is classic with a multi-functional approach to creating product that goes from day to night with seasonal fabrics and features,” said Brian Kaminer, SVP of Brand and Product Development for the U.S. Polo Assn. brand. “Incorporating soft, comfortable silhouettes was an important element for us to give our consumers this season, keeping ease as much on the forefront as style.”

U.S. Polo Assn. is known worldwide for its authentic, sport-inspired style and the brand’s signature red, white and blue stripe detail in each garment. The Fall 2022 Collection follows suit, with bold and fresh assortments combining unique styling, high-quality fabrics, and seasonal comfort, including USPA Life apparel with sustainable elements.

About U.S. Polo Assn. and USPA Global Licensing Inc. (USPAGL)

U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the nonprofit governing body for the sport of polo in the United States and one of the oldest sports governing bodies, having been founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through some 1,200 U.S. Polo Assn. retail stores and thousands of department stores as well as sporting goods channels, independent retailers and e-commerce, U.S. Polo Assn. offers apparel for men, women, and children, as well as accessories and footwear in 190 countries worldwide. Today, U.S. Polo Assn. is ranked the 28th-largest licensor in the world and within the top five sports licensors, according to License Global’s 2022 list of “Top Global Licensors.” Visit uspoloassnglobal.com.

USPA Global Licensing Inc. (USPAGL) is the for-profit subsidiary of the USPA and its exclusive worldwide licensor. USPAGL manages the global, multi-billion-dollar U.S. Polo Assn. brand and is the steward of the USPA’s intellectual properties, providing the sport with a long-term source of revenue. Through its subsidiary Global Polo Entertainment (GPE), USPAGL also manages Global Polo TV, the world’s leading digital platform with polo and lifestyle content. In addition, USPAGL partners with ESPN and beIN Sports globally to share the sport of polo broadcasts on television and on-demand to millions of viewers around the world. For more polo content, visit globalpolo.com.

Contact Information:
Kaela Drake
kdrake@uspagl.com
001.561.461.8596

Stacey Kovalsky
skovalsky@uspagl.com
001.561.790.8036

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Yachting: Monaco Smart & Sustainable Marina, New Solutions to Drive the Change

Yachting: Monaco Smart & Sustainable Marina, New Solutions to drive the change

The 2nd Monaco Smart and Sustainable Marina Rendezvous has come to an end collecting ideas and projects to take a step closer to the marinas of the future.

MONACO, Sept. 28, 2022 (GLOBE NEWSWIRE) — New solutions ranging from preserving biodiversity to water treatment to build together a more sustainable future in the yachting industry.

The 2nd Monaco Smart and Sustainable Marina Rendezvous has come to an end collecting ideas and projects to take a step closer to the marinas of the future. At the centre of two-day event, hosted by Yacht Club de Monaco, meetings and talks between 50 startups and 20 marinas and architects representing 26 nations. For this second edition, M3 (Monaco Marina Management), the Monegasque consultancy specialised in development, management and promotion of marinas and yacht clubs partnered again with Blumorpho, experts in innovation for sustainable business, with support from the Prince Albert II of Monaco Foundation,the Government’s digital transition programme, Extended Monaco, Credit Suisse, Al-Rushaid Group, Bombardier, MB92 and Xerjoff.  In the continuity of marina event, the organisers now want to bring together the entire boat ecosystem with the organization on March 13 – 14 2023 of the first edition of Monaco Smart and Sustainable Yacht.

The International Smart & Sustainable Marina Awards 2022 winners were announced. The Israelian startup ECOncrete was chosen among 7 finalists for their bio-enhancing concrete technology that can be integrated to traditional marine construction projects. “Designed to promote marine biodiversity, enables responsible marine constructions”, explained Philippe LeBlanc, Eu sales & business development manager.  In the architects category, first place went to NBAX for their marina in Sanya, Hainan, implementing a yacht club in combination with a film studio. In the Marinas category Flisvos (Greece) won the prize. The public vote crowned Habacoa (Bahamas) and its superyacht marina project with 136 berths (the smallest is 45 meter the largest is 220 meter).

“The level of architectural firms’ projects was very high: some of them are already established, while others are new discoveries. In general – noted Jean-Michel Wilmotte, archistar and member of the jury in the architects category – in my opinion the marinas represent the connection between land and water. They are places where you can live, where you can spend days among design and activity. We are approaching a new dimension for marinas, which can therefore become places to spend time. I think Monaco is the right place to see this change: from an architectural point of view the city is constantly evolving and the new Yacht Club headquarters is an example of how to combine the world of boating and architecture . I believe these two worlds combine well together. ” “It was a fantastic experience, the level of startups was very high and the work sectors were the most varied: from water treatment to robotics to energy efficiency. It is a very useful event for marinas. We awarded the Israeli ‘ECOncrete’ because we assessed the positive impact for sustainability. The material presented can be used on a large scale,” said Marc Hervás MB92.

For more information:

LaPresse SpA Communication and Press Office Director
Barbara Sanicola – barbara.sanicola@lapresse.it

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/87af3162-ffe7-45d3-8def-1d403b4ea37c

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

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Fellaz Named Official Partner of the NBA Japan Games 2022 Presented by Rakuten & Nissan and Presenting Partner of the Game 2 Halftime Show

Featured Image for Fellaz

Featured Image for Fellaz

SINGAPORE, Sept. 28, 2022 (GLOBE NEWSWIRE) — Fellaz, a next-generation entertainment platform, announced its official partnership with Rakuten that will make Fellaz an Official Partner of The NBA Japan Games 2022 Presented by Rakuten & Nissan and the Presenting Partner of the Game 2 Halftime Show. NBA Japan Games 2022 will feature the 2022 NBA champion Golden State Warriors and the Washington Wizards playing two preseason games on Friday, Sept. 30, at 7 p.m. JST and Sunday, Oct. 2, at 2 p.m. JST at Saitama Super Arena, marking the league’s 15th and 16th games in the country.

As a full-stack entertainment platform that specializes in the management of a growing list of K-pop and J-pop IP, both derivative and original narratives, and digital avatars, Fellaz is preparing to host a series of global music tours and IRL events with top-tier artists, complementing the fan experience by increasing direct interaction between the stars and the fans. The partnership with Rakuten is a formidable accomplishment following Fellaz’s participation as an official sponsor of the World University Basketball Series also held in Tokyo last month.

On Oct. 2, the official lineup of The NBA Japan Games 2022 Game 2 Halftime Show will be headlined by BoA from SM Entertainment, a legendary South Korean solo artist that has claimed the crown multiple times on music charts in both the K-pop and J-pop scene, DJ Taku Takahashi from the Japanese alternative hip hop trio M-Flo, and FusionMC, a South Korean street dance crew flying in from Seoul.

Fellaz’s participation as the Presenting Partner of the Game 2 Halftime Show highlights Fellaz’s commitment to delivering top-class musical performances and serves as a teaser for an upcoming global K-pop tour planned to take place in Tokyo early next year.

The seven-time NBA champion Warriors, who recently won their fourth NBA championship in the last eight years, currently feature two-time NBA Most Valuable Player (MVP) and 2022 Bill Russell NBA Finals MVP Stephen Curry, five-time NBA All-Star Klay Thompson and 2017 NBA Defensive Player of the Year and four-time NBA All-Star Draymond Green. The Wizards currently feature three-time NBA All-Star Bradley Beal, 2018 NBA All-Star Kristaps Porziņģis and 2020 NBA All-Rookie Second Team member Rui Hachimura, who in 2019 became the first Japanese player in league history to be selected in the first round of the NBA Draft. The Warriors and Wizards will both be making their first visits to Japan.

Rahul Kadavakolu, Vice President of Rakuten’s Global Sports Business, commented, “I am thrilled at this opportunity to expand our partnership with Fellaz to incorporate cutting-edge, fan-centered entertainment into the NBA Japan Games 2022. We look forward to delivering an enriched fan experience through innovation and showcasing to the world how Web 3.0 can play a key role in major sporting and entertainment events by combining best practices from both worlds.”

Bobby Bhatia, CEO of Fellaz, commented, “This is a significant milestone for Fellaz and a very solid first step towards expanding its operation in Japan as a mainstream entertainment platform. The partnership between Fellaz and Rakuten, and the successful experience of presenting for the Game 2 Halftime Show of NBA Japan Games 2022 will prove foundational as we continue to pursue our vision of innovating the entertainment industry and the way it is experienced.”

About Fellaz

Based in Singapore, Fellaz is a Pan-Asian next-generation entertainment ecosystem that specializes in the production and optimized distribution of K-pop and J-pop IP and derivative content through Fellaz-branded premier music festivals and IRL events with top-tier artists and performers in the major cities in Asia, complemented by a proprietary tech solution and platform infrastructure that enables highly interactive fandom engagement.

Fellaz will host its first street culture event under the original brand “Fellaz Showdown” at a high-profile hip-hop club in Tokyo starring two top-tier b-boy crews from Japan and Korea engaging in a group dance battle and cipher showdown to the music setlist prepared and performed by DJ Taku Takahashi from the popular alternative hip-hop group M-Flo. In addition to the fancy moves and beats, Fellaz will deploy its QR-based souvenir solution for the first time, allowing attendees to purchase admission tickets in the form of artistic souvenirs with added ownership benefits via https://fellaz.io, a pre-app beta service site powered by Klaytn, the decentralized network developed by Kakao subsidiary Krust. The venue and time will be announced at a later date.

Press Contacts:

shoukuan.lau@rakuten.com

joseph.lee@rakuten.com

mark.mowbray@rakuten.com

hello@fellaz.io

Contact Information:
Shoukuan Lau
PR Manager
shoukuan.lau@rakuten.com
65 8346 4632

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Taiwan ranks 11th in IMD digital competitiveness ranking

Taiwan ranked 11th out of 63 major economies in the latest World Digital Competitiveness Ranking released Wednesday by the Swiss-based International Institute for Management Development (IMD), a fall of three places from last year.

 

The rankings are based on 54 criteria under three major categories: knowledge, technology, and future readiness.

 

The biggest drop occurred in the technology category, which saw Taiwan’s ranking drop from 2nd to 6th, with investment in telecommunications, where the nation ranked 57th, identified as an “overall top weakness.”

 

However, Taiwan continued its strong showing in “IT & media stock market capitalization” and “mobile broadband subscribers,” ranking 1st in both areas as it did last year.

 

The nation came 2nd in “use of big data and analytics,” classified under future readiness, up two places compared to last year’s results and designated an “overall top strength.”

 

Under future readiness, Taiwan also ranked 3rd in terms of “agility of companies.”

 

Overall, Taiwan placed 8th in the future readiness category, down one place from last year.

 

In terms of knowledge, the nation ranked 1st in “total R&D personnel per capita” and 3rd in “higher education achievement” and “total expenditure on R&D” in relation to other areas of government spending.

 

However, overall, Taiwan ranked 18th in knowledge, the lowest among the three major categories, with “total public expenditure on education,” (52nd) “female researchers,” (52nd) “pupil-teacher ratio in tertiary education,” (50th) and “scientific and technical employment” (45th) all identified as “overall top weaknesses.”

 

The Ministry of Digital Affairs said in a press release that the strengths and weaknesses identified in the rankings will serve as a reference for its policymaking going forward as it looks to help Taiwan achieve digital transformation and boost its digital capabilities.

 

Digital Minister Audrey Tang (唐鳳) said during an interview at the Taiwan Internet Governance Forum in Taipei on Wednesday that the ranking provided valuable input for policymaking, especially in those areas where private-public cooperation can be strengthened.

 

 

 

Source: Focus Taiwan News Channel

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6 Chinese planes cross Taiwan Strait median line: MND

A total of 6 Chinese People’s Liberation Army (PLA) planes crossed the median line of the Taiwan Strait on Wednesday, according to Taiwan’s Ministry of National Defense (MND).

 

The MND said that 31 Chinese military aircraft and four naval ships had been detected in the vicinity of Taiwan on Wednesday, adding that it scrambled combat air patrols, sent radio warnings, and deployed defensive missile systems in response.

 

Information released by the MND showed that four Shenyang J-11 fighter jets and two Shenyang J-16 fighter jets belonging to the PLA crossed the median line of the Taiwan Strait.

 

The J-11s crossed the median line near northern Taiwan, while the J-16s crossed in the southwestern part of the island.

 

Meanwhile, a Y-8 anti-submarine warfare plane also flew into the southwestern part of Taiwan’s air defense identification zone (ADIZ), accompanied by a long-range high-altitude Harbin BZK-005 UAV (unmanned aerial vehicle), a Tengden TB-001 UAV, and a Rainbow CH-4 unmanned combat aerial vehicle, according to the MND.

 

The plane and the drones were detected in the southwestern part of Taiwan’s ADIZ.

 

The MND did not release the flight paths of the other planes.

Taiwan’s Defense Ministry has posted information about Chinese planes entering Taiwan’s ADIZ since Sept. 17, 2020, amid increasingly frequent incursions by Chinese military aircraft.

 

China stepped up its military maneuvers in early August this year after the visit of U.S. House of Representatives Speaker Nancy Pelosi on Aug. 2 and 3, holding live-fire drills in six locations around Taiwan.

 

Chinese warplanes, including the 6 on Wednesday, have regularly crossed the median line of the Taiwan Strait since Pelosi’s visit.

 

The median line was previously observed by both Taipei and Beijing as an unofficial border, and crossing it is generally viewed an attempt by China to be more militarily active in areas around Taiwan.

 

 

 

Source: Focus Taiwan News Channel

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National Award winning artist indicted on sexual assault charges

Taiwan artist Sakuliu Pavavaljung was indicted on charges of offences against sexual autonomy on Sept. 21 by Pingtung prosecutors after an investigation that took nine months, according to indictment documents released Wednesday.

 

Sakuliu, 62, who received a National Award for Arts in 2018, was indicted for sexual assault after Pingtung prosecutors wrapped up their investigation into allegations made against him last year.

 

The first accusation appeared in an piece titled “Story of a Small Town” posted online in December last year by artist Kuo Yu-ping (郭俞平), who described how a Paiwan artist, she called Kulusa, sexually assaulted a 19-year-old female fan earlier that same year.

 

Many readers speculated that Sakuliu was the artist alluded to in the story and police launched an investigation.

 

That allegation was echoed by Yu Yue-lien (余悅廉), an engineer, who wrote in a Facebook post days later that Sakuliu attempted to sexually assault her in the summer of 2006, when she attended an exhibition of his work in Taitung.

 

Although Sakuliu has denied all allegations, Pingtung prosecutors launched an investigation and have now filed an indictment.

 

Following the allegations, Taipei Fine Arts Museum announced that Sakuliu would no longer represent Taiwan at the 59th Venice Biennale and Kassel Documenta Fifteen in Germany in 2022.

 

 

 

Source: Focus Taiwan News Channel

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Taiwan, Poland form working group for cooperation on semiconductors

Diplomatic representatives of Taiwan and Poland signed a memorandum of understanding (MoU) Tuesday to establish a working group that will help build cooperation between the two sides on cutting-edge technologies in the semiconductor industry.

 

The MoU was signed by representatives at the Polish Office in Taipei and the Taipei Representative Office in Poland during a video conference.

 

“The aim of the MoU is to foster close bilateral collaboration between Poland and Taiwan in the field of semiconductors and microelectronics, focusing on investment, business, and R&D cooperation,” said Cyryl Kozaczewski, director of the Polish Office in Taipei, who signed on behalf of the Polish side.

 

The signing was also witnessed virtually by Polish Deputy Minister of Economic Development and Technology Grzegorz Piechowiak and Taiwan’s representative to the European Union and Brussels Tsai Ming-yen (蔡明彥), who is currently on a visit to Poland as the head of a delegation, according to the Taipei office there.

 

Tsai’s delegation, comprising experts in the fields of academia, business and technology, is on a trip to Europe Sept. 22-28 to seek collaboration on building a resilient semiconductor supply chain.

 

Taiwan and Poland agreed in May, during the 10th Polish-Taiwanese economic consultations in Taipei, to establish a working group on semiconductors to share experience and build cooperation in the area, according to the Taipei Representative Office in Poland.

 

On Tuesday, the working group was officially formed, following the inking of the MoU, according to the Taipei office.

 

The group will work to facilitate joint activities between Taiwan and Poland in the field of semiconductors and microelectronics, including exhibitions and seminars, the Polish Office in Taipei said in a statement Wednesday.

 

It will also seek to promote the training of professionals for the semiconductor industry, the office said.

 

 

 

Source: Focus Taiwan News Channel

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StarLux to list on stock market, forecasts profit by next year

Shares of StarLux Airlines, Taiwan’s newest international carrier, will start trading on the emerging market Friday, and the company has set a goal of turning a profit by next year, its CEO Glenn Chai (翟健華) said Wednesday.

 

StarLux is upbeat about its economic prospects, as global air passenger traffic is on the rise and had reached 70 percent of pre-COVID-19 levels as of June, Chai said at a press conference ahead of company’s debut on the Emerging Stock Board.

 

Going into the fourth quarter, the number of StarLux flights will increase by almost 100 percent, and the airline’s passenger capacity is expected to double by the end of the year, as it continues to expand its fleet, he said.

 

By year end, StarLux will have a fleet of 19 aircraft — 13 Airbus A321neo, four Airbus A330neo and two Airbus A350, according to Chai.

 

The carrier is scheduled to take delivery of its first A350 in October and launch new Asian routes in the first quarter of 2023, he said.

 

The A350s will be used on StarLux’s flights to Los Angeles and San Francisco in the United States, which will be launched in April next year and in the second half of 2023, respectively, when the airline starts its operations on the North American route, Chai said.

 

StarLux is also eyeing the transit market in North America, as well as in Southeast Asia, he said.

 

In addition, the carrier plans to acquire small freight aircraft to provide cargo services, amid expected soaring demand for that service, Chai said, citing a recent report that forecast cargo traffic at Taiwan Taoyuan International Airport will exceed 4.02 million metric tons by 2040.

 

With all of those plans in the works, StarLux is likely to start showing a profit by 2023, after reporting a net loss of NT$2.66 billion (US$83.59 million) in the first half of this year and accumulated losses of NT$9.6 billion since its establishment in 2018, according to Chai.

 

Meanwhile, Starlux stocks will debut on the Emerging Stock Board on Friday at NT$12 per share, and 275 million shares will be issued, according to data from the exchange.

 

StarLux has a paid-in capital of NT$18.12 billion, and its revenue in the first eight months of 2022 rose to NT$1.11 billion, up 131 percent year-on-year, comprising NT$564 million in passenger transport services and NT$475 million in cargo services, according to its reports.

 

 

 

Source: Focus Taiwan News Channel

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