Search Results for: hong Kong

AS the global clothing and textile industry looks towards a 2017 where trade relations are unpredictable, Sweden’s Hennes & Mauritz (H&M) has been stressing the need to maintain stability on the factory front, by improving labour relations.

A recent conference hosted by H&M, in the key new emerging market and outsourcing centre of Myanmar, heard that while support for more sustainable labour practices is growing the clothing sector, the pace of actual reforms needs to intensify to secure more mature industrial relations within the industry, ensuring human rights and good working conditions.…

The Italian beauty and personal care industry has headed into 2017 with optimism, on the heels of a still slow yet solid recovery in the domestic market and the strengthening of its competitive edge in foreign markets. Although the most recent confirmed data goes back only to 2015, industry association Cosmetica Italia’s latest forecast for the sector, released in July 2016 and entitled, ‘Economic Forecasts, Trends and Investments in the Cosmetics Sector – July 2016’, gives a good idea on the 2016 year-end results we can expect from the Italian cosmetics industry.…

The South Korean coatings market, estimated by Kusumgar, Nerlfi & Growney Inc, a New Jersey, USA-based consulting firm for the polymer and chemical industries, at 840,000 tonnes worth USD3.5 billion in 2016, has been challenging for suppliers in 2016-17, as demand is affected by two opposite trends.…

HONG Kong’s Securities and Futures Commission (SFC) and the Hong Kong Stock Exchange have put listed companies on notice that they will closely monitor rights issues and open offers that substantially dilute the interests of non-subscribing minority shareholders.

In a joint statement, the SFC and the exchange have said they fear in some cases deals have been conducted without complying with requirements to give fair and equal treatment to all shareholders. …

CHINA’S central bank, the People’s Bank of China (PBC), has issued a new anti-money laundering and terror finance reporting requirements for all financial institutions inside the country. The rules come into force July 1. They cover banks, brokers, foreign exchange, online and mobile payment systems and insurance companies, who will have to file reports to the central bank, via their headquarters or via representative institutions, if a client requires daily cash transactions exceeding Chinese Yuan Renminbi CNY50,000 (USD7,261) or a larger amount of USD10,000’s worth in foreign currency.…

THE HONG Kong and Pakistan government have signed a comprehensive agreement on avoiding double taxation. Pakistani tax paid by Hong Kong companies will be credited against Hong Kong taxes on the same profits, with the reverse applying for Pakistan companies. Pakistan’s withholding tax rates for Hong Kong residents on royalties and fees for technical services (both currently 15%) will be capped at 10% and 12.5% respectively.…

CHINA’S textile sector is feeling positive about the Chinese government’s ambitious ‘Made in China 2025’ national strategy, hoping it will guide producers towards sustainable growth.

The policy was unveiled in May 2015 by Chinese Premier Li Keqiang. It is designed to move the entire Chinese manufacturing sector away from low value-added activities to medium- and high-end operations in just 10 years’ time.…

Hacking and data breaches keep Asian IT departments awake at night, but many of the most serious cyber security incidents can be prevented with greater vigilance from HR professionals. Of course, there are a wide variety of risks being posed to companies from online environments, from denial-of-service attacks, to Trojan programmes that monitor computer use, and theft of identities and intellectual property.…

2016 – Winners and losers

RETAILERS & BRANDS

WINNERS

US-based sportswear brand Under Armour delivered its 26th consecutive quarter of 20%-plus revenue growth in the third quarter of 2016, with sales increases across all divisions. Net sales were up 22% in the third quarter to USD1.47bn.…

A long-held ambition by Malaysia Airports Holdings Berhad (MAHB) to create an aerotropolis, or airport city, anchored around Kuala Lumpur International Airport (KLIA) is taking key steps forward with a newly finalised master plan and a number of strategic partnerships.

The project, called KLIA Aeropolis, was announced in May (2016).…