JAKARTA, Indonesia, Jan. 28, 2020 /PRNewswire/ -- Beginning today, DANA E-Wallet is now available as a payment method for Apple services in Indonesia. Customers can use their DANA E-Wallet account to pay for App Store, Apple Music, Apple TV app, and iTunes Store purchases, iCloud storage and more.

Vincent Iswara, CEO and co-founder of DANA said, "We're pleased customers can now use DANA as a payment method for the App Store and Apple Services. DANA is one of the top digital wallet services in the country, and customers can enjoy the ease-of-use, accessibility, and reliability of this service developed by Indonesia, for Indonesia."

The addition of DANA E-Wallet as an Apple ID payment method offers a new way to pay for Apple services without needing a credit card and still allows for easy, one-tap purchasing from all Apple devices. DANA E-Wallet does not share your bank information with Apple, making it simple and private. For DANA, security and user experience are paramount.

Customers can manage their Apple ID payment information in Settings on iPhone, iPad and iPod touch, or on their Mac or PC. DANA ensures that users are able to share the same experience and story: a digital wallet that is trusted, intuitive to use, can be accessed by whenever, and is available across a wide range of platforms.

For more information on how to add DANA E-Wallet as a payment method, please visit https://support.apple.com/en-us/HT201266.

This launch is another significant milestone for DANA as it continues to build a firm, inclusive infrastructure to accommodate digital transactions in Indonesia.

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Partners include Silvergate Bank, DRW's Cumberland, BitGo, Coin Metrics, and a London-based triple A insurance syndicate

SINGAPORE, Jan. 28, 2020 /PRNewswire/ -- Stack, an Asia-based provider of cryptocurrency trackers and index funds has launched today in response to investor demand for controlled exposure to the high-yield potential of bitcoin globally. The single-asset index fund expects to capture $750 million USD assets under management within 2020, and to surpass $2 billion USD in 2021, tapping into the unmet demand for traditional investment vehicles in Asia's digital asset space. Stack's list of partners includes premiere financial services providers, BitGo, Silvergate Bank, and Coin Metrics for custodian, banking, and index solutions, respectively.

Matthew Dibb, Co-founder and Chief Operations Officer of Stack shared, "We've seen a dramatic increase in the number of investors seeking to diversify their portfolios using bitcoin. Fears of a global recession, combined with deteriorating trade relations globally, are accelerating this process considerably. Bitcoin is one of the best performing assets in history—with 19x returns since 2014—and is uncorrelated with traditional markets, making it an attractive prospective investment for both individuals and institutions. In Asia, however, there are virtually no risk-adjusted investment portals for the bitcoin market, leaving investors in Asia with no opportunity to access these incredible potential returns."

The launch of Stack comes as the number of long positions being taken within the bitcoin market and demand from institutional investors for access to the digital asset economy increase. At present, investors purchasing and custodying bitcoin through digital asset management portals or traditionally structured funds pay premiums of 20-40% over the underlying asset. Wealth management firms have also been capable of charging exorbitant management and performance fees, even for passively-managed single asset portfolios.

Stack's flagship Bitcoin Index fund (BTCX100) provides an alternative solution, giving investors in Asia a flexible and cost-effective means of gaining exposure to bitcoin which complies with financial industry's standards of best practice while mitigating the risks inherent to  purchasing, transacting, and storing digital assets. With a minimum investment of SG$100,000 at a low 2.25% management fee*, Stack provides an institutional-grade alternative to the high premiums and barriers to entry which come with current digital asset hedge funds.

Mitigating the risks inherent to buying and holding digital assets, all Stack funds offer secure custody with insurance coverage, weekly contributions, redemptions, and reporting. Its first-of-its-kind product in Asia provides a streamlined, secure, and simple way to integrate BTC into an investment portfolio.

Pete Najarian, Chief Revenue Officer at BitGo, said, "Institutional investors need services and solutions from providers who understand fiduciary responsibilities. The Stack team is composed of financial services veterans who understand the needs of these investors and who are committed to security, compliance, and industry best practices. Stack is a first-of-its-kind fund in Asia and BitGo is proud to provide Stack with secure and compliant custody solutions that help mitigate risk and increase transparency for investors within the APAC region."

In addition to BitGo and Silvergate Bank, the newly launched fund has also partnered with leading cryptocurrency audit and tax practice, Cohen & Co. for auditing purposes, DRW's crypto-asset focused trading company, Cumberland, and a London-based triple A insurance syndicate to ensure best-in-class services for investors within the digital assets space. Given the importance of independent, transparent, and high quality indexes, Stack Funds has also partnered with Coin Metrics as index provider and administrator.

Bringing together over 110 years of experience within the traditional financial sector, the Stack leadership team is drawn from senior executive positions from the likes of JP Morgan, Merrill Lynch, HSBC, Dresdner Kleinwort Benson, and Lehman Brothers, representing a significant migration of leading players from the world of traditional finance to the digital assets space.

"The gap between the old world of traditional finance and the cryptocurrency industry is fading, but not fast enough. Seasoned investors expect a level of sophistication which is non-existent in the market. Stack bridges this gap—blending knowledge of what investors want and need with data-backed insights into the cryptocurrency space. Right now, especially in Asia, if you are an institution which wants to trade bitcoin—but have significant fiduciary duties—Stack really is your only option," said Stack Co-founder and Chief Marketing Officer, Michael Collett.

For more information, visit stackfunds.com or contact admin@stackfunds.com.

Stack Co-founders—COO, Matthew Dibb, and CMO, Mihcael Collett—are now available for interview

Contact Details:
Gavin Cahill
P: +65 873-892-06
E: gavin@wachsman.com

NEW YORK, Jan. 28, 2020 /PRNewswire/ -- Crowe Global (Crowe) reports an outstanding eight years of consecutive growth. The eighth largest audit, tax and advisory network in the world announced global revenues of US$4.4.bn in 2019, an increase of 3.5% (excluding Forex impact).

The results reinforce the network's continued strength in the global market. Standout regional performances came from Latin America which grew by 13%, Africa by 12%, North America by 8% and Europe by 6%. The results are bolstered by impressive country growth figures in India (28%), Canada (14%), the Netherlands (12%) and Indonesia (75%).

Continued client demand for global talent acquisition provided the network with new growth opportunities related to international mobility. Over the last twelve months, Crowe increased its tax advisory revenues by 10%, its technology solutions, and expanded its HR advisory practice into new territories. Audit revenues also grew, demonstrating Crowe's ability to respond to regulation changes and the evolving needs of clients.

David Mellor, Chief Executive Officer of Crowe Global, comments:

"I am very pleased that we have continued to achieve growth over the last twelve months. Volatility in foreign currency exchange rates and unstable economic conditions in several regions has resulted in a challenging global trading environment for many. At Crowe, we are focused on driving value for our clients, our people and our communities through collaboration, leadership and agility; it is these priorities that enable the network to navigate this uncertain landscape.

Alongside the financial achievements, I am especially pleased that our firms gained recognition with accolades such as Best Tax Provider (UK) at the Expatriate Management & Mobility Awards and Best Tax and Audit Provider (UAE) at the Global Banking and Finance Awards. In Latin America and in North America, Crowe was named as one of the best workplaces in the Fortune 100 Best Companies to Work For list. These successes are testament to our 42,000 people who are committed to providing service excellence and helping our clients make smart decisions."

Crowe Global is a leading international network of separate and independent accounting and consulting firms that may be licensed to use "Crowe" in connection with the provision of accounting, auditing, tax, consulting or other professional services to their clients. Crowe Global itself is a non-practicing entity, and does not provide professional services in its own right. Neither Crowe Global nor any member is liable or responsible for the professional services performed by any other member.

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Global Gen Z research reveals how organisations can make the most of the tech skills and experience of digital natives

MELBOURNE, Australia, Jan. 28, 2020 /PRNewswire/ -- Gen Z, the newest generation to enter the workforce, is already having an impact on employers' technology problem-solving and purchasing decisions, according to new research from Nintex, the global standard for process management and automation.

Nintex's Gen Z study findings are contained in a series of reports titled "The Gen Z Effect" that examine the career drivers and values of Gen Z employees in four geographic regions including: Australia, New Zealand, the United States and the United Kingdom.

Each report sheds light on factors organisations must consider to recruit and retain the newest and most tech-savvy generation of workers. A key finding is that Gen Z, also known as Zoomers, are the first digitally-native generation in the workforce and frequently considered the office's resident tech expert. In fact, 70 percent of Gen Z employees report they have been approached by a senior team member to fix a technology problem.

"Gen Z grew up with technology in hand, and as they begin their careers, they aspire to do meaningful work," said Nintex CEO Eric Johnson. "It's becoming increasingly important for organisations to leverage technologies that help all employees to perform at their best. One of the best ways to do that is with a process management and automation platform like Nintex, which makes it fast and easy to manage, automate and optimise any business process, simple or sophisticated, across the entire enterprise."

According to three Nintex reports, titled: "The Gen Z Effect on the US Workplace," "The Gen Z Effect on Workplaces in the UK," and "The Gen Z Effect in Australia and New Zealand," 80 percent of decision-makers across Australia, New Zealand, the US and the UK have selected a technology tool suggested by a Gen Z employee.

Other findings show that the Zoomer, as an employee, is thoughtful and driven with 63 percent of Gen Z selecting a university major due to "personal interest" rather than career longevity. Interestingly, half of Gen Z also expect a promotion within their first year on the job. This generation is not one to accept the first job offer they receive; before deciding, they will consider their opportunities for growth and the impact that they will have.

The research also highlights how Gen Z attitudes differ by region as to salary, company culture, career advancement and automation. US respondents rank "salary and company culture" as the biggest factors in making a job decision, while UK Zoomers value "work flexibility ahead of salary and work-life balance". In New Zealand and Australia, "salary and company values" top the list.

While Gen Z shares high digital know-how and comfort with technology across all four geographies, their concerns about workplace automation vary widely from region to region. Fifty-seven percent of Gen Z in the US are concerned that AI and automation will cost them their jobs, compared to 30 percent in the UK and 43 percent in New Zealand and Australia.

In regard to Gen Z's commitment to an employer, 31 percent of Gen Z in the UK and US, and 29 percent in New Zealand and Australia, plan to leave a job after just one year.

"Business and HR leaders and front-line managers need to keep this generation's career advancement goals in mind if they want to retain Gen Z workers long-term," Johnson said.

To review the full findings from Nintex's "The Gen Z Effect" study, downloadable ebooks are available on Nintex.com for the United States, the United Kingdom and Australia and New Zealand.

Media Contact
Laetitia Smith 
Nintex 
laetitia.smith@nintex.com
cell: +64 21 154 7114

About Nintex
Nintex is the global standard for process management and automation. Today more than 8,000 public and private sector clients across 90 countries turn to the Nintex Platform to accelerate progress on their digital transformation journeys by quickly and easily managing, automating and optimising business processes. Learn more by visiting www.nintex.com and experience how Nintex and its global partner network are shaping the future of Intelligent Process Automation (IPA).

Survey Methodology
The studies by Nintex were conducted by Lucid Research. 1,375 current and future Gen Z employees in the United Kingdom, the United States and New Zealand and Australia were surveyed. All Gen Z respondents were between the ages of 18 and 23. Those that qualified for current Gen Z employees were graduates of a four-year university degree program who now have a job where they use a computer for 5+ hours a day. Future Gen Z employees were current enrollees in four-year university degree programs who will actively seek full-time employment upon graduation, or graduates of a four-year university degree program who are actively seeking full-time employment. Next Nintex surveyed 980 enterprise decision-makers in the United Kingdom, the United States and in New Zealand. To qualify, respondents had to work at a company with 250+ employees, be at a management, VP/Director or C-Suite level, and were directly involved in choosing or helping their organisation to implement new technology, including buying/selecting new tools. The studies were initiated in March 2019.

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The country is expected to have 3.5 connected devices per person, finds Frost & Sullivan

SANTA CLARA, California, Jan. 28, 2020 /PRNewswire/ -- Mexico is emerging an attractive innovation hub with high growth in areas such as venture capitalist (VC) investments and government and external R&D funding. By 2025, the country is expected to have 3.5 connected devices per person, which will create huge demand for innovative digital products, services and business models. Mexico will have the second-highest mobile adoption rate in Latin America.

Mexico's Technology Investment

"Mexico's focus on education to create a talent pipeline for researchers and attract foreign investment, and growing start-up business support mechanisms are fostering a culture of innovation," said Malabika Mandal, Visionary Innovation Industry Analyst at Frost & Sullivan. "The country has been rapidly rising in the Innovation Index due to steady reforms and dynamic policies. Higher technology investment by the government and pro-private investment schemes will position Mexico as a viable innovation hub for emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cybersecurity."

Frost & Sullivan's recent analysis, Future of Mexico—Global Hub for Innovation and Investment, Forecast to 2025, analyzes the social, technological, and economic factors influencing a culture of innovation in the country.

For further information on this analysis, please visit: http://frost.ly/3yu

"The growth of emerging technologies is prompting traditional industries to reinvent themselves," noted Mandal. "Mexico has the ability to be the regional innovation leader in emerging industries, 4G/5G telecommunications rollout, and affordable, smart, and green housing, as well as in more established areas like tourism and medical devices."

Key findings presenting growth opportunities for Mexico include:

• Through greater investment in R&D and education, and by encouraging a tech-enabled society, Mexico's economy stands to gain more than $245 billion in cumulative GDP growth from 2018 to 2025.
• Gen Y (millennial) and Gen Z cohorts will make up 45% of the total population by 2025. More than 90% of Mexican Gen Z will use the internet by 2025, generating a significant surge in technology development.
• By 2030, the middle-class population will reach 95 million. Mexico will enter the top 10 countries with the highest shares of global middle-class consumption, surpassing Brazil, the United Kingdom, and France.
• Mexico's working-age population is expected to peak at approximately 68% in 2033, surpassing the working-age share of total population for all other LATAM countries.
• The Mexican IIoT market is predicted to grow from $1.6 billion in 2018 to $4.0 billion in 2022, at an approximate CAGR of 25.6%. The services and software segments will hold the highest CAGRs at 26% and 25%, respectively.
• In the next decade, the EV, telecommunications, and medical devices industries will show increased revenue as well as high investment values.

Future of Mexico—Global Hub for Innovation and Investment, Forecast to 2025 is part of Frost & Sullivan's global Visionary Innovation (Mega Trends) Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Future of Mexico—Global Hub for Innovation and Investment, Forecast to 2025
K368-MT

Contact:
Francesca Valente
P: +1 210 348 10 12
E: Francesca.Valente@frost.com

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LONDON, Jan. 27, 2020 /PRNewswire/ -- The Red Flag Group®, a leading compliance technology and due diligence firm, today released its latest guide for helping organisations identify the top five integrity risks that are likely to be hiding in their supply chains.

The newly-published whitepaper, entitled 'Top Five Integrity Risks', is designed to provide practical tips for establishing an integrity risk assessment programme that enables transparency into unexamined compliance and integrity areas, while guiding companies on identifying and prioritising the risks that exist in their suppliers. The paper not only includes advice on exploring these risks, but also presents real-life examples, case studies, tips and takeaways to help companies consider integrity challenges and compliance risks that can have a significant business impact.

The supply chain has never been under the level of scrutiny that it is today, and the risk of engaging integrity-challenged third parties is more public than ever before, with government regulators, the media, non-governmental organisations and the public increasingly exerting pressure on companies to closely monitor their suppliers. The new whitepaper points out that while many companies regularly examine the traditional and obvious set of risks when conducting due diligence on their third parties, they fail to consider the social and environmental integrity challenges that can have a significant business and reputational impact.

Rich Hoffecker, Product Director at The Red Flag Group® and co-author of the whitepaper, said, 'Risk detection is no longer a check-the-box process; it involves a combination of techniques and technologies to match. The initial starting point to knowing your suppliers is understanding how they operate, the work they do for you, the common risks that they have, and how such risks may affect you. As such, you need to understand them just as you do your own business. Understanding your suppliers will help you to ascertain your risk exposure, identify potential risks and impact, and prioritise risks based on your tolerance.'

The Red Flag Group has been helping global companies identify and deal with risks for almost 15 years.

According to the firm's CEO and Chairman, Scott Lane, 'It is clear that knowing who you are doing business with is absolutely key for any company operating in a global business. You are, and you will be, held responsible for the companies and people that you engage as customers, partners, suppliers, vendors, distributors and resellers. Like it or not, your customers, your regulators and your investors expect you to be constantly checking for red flags and dealing with them before they become an issue.'

The full whitepaper can be downloaded at https://insights.redflaggroup.com/whitepapers/top-5-integrity-risks.

About The Red Flag Group® 

The Red Flag Group® helps companies select the best customers, suppliers and business partners by providing data, intelligence and rating solutions across all industries and countries. With our curated data, intelligence and rating solutions, our clients make Better Decision when selecting companies and people they engage with, allowing them to not only meet their own statutory compliance obligations, but also drive up standards and improve society's future outlook. We believe that organisations recognise their critical role in ending corruption, money laundering, and child and forced labour with a commitment to the highest standards of ethics, compliance and social governance to make a significant contribution in society. For more information, go to http://www.redflaggroup.com.

Contact:
Maria Girald, +34 673 839 491 

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SHENZHEN, China, Jan. 27, 2020 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTP) today announced its unaudited results for the fourth quarter ended December 31, 2019.

KEY HIGHLIGHTS

(In thousands of US dollars, except per share data, percentages and as otherwise stated)

SUPPLEMENTARY INFORMATION (UNAUDITED) IN THE FOURTH QUARTER OF 2019

Key Highlights of Financial Position

FINANCIAL RESULTS

Net Operating Income

Net operating income for the fourth quarter of 2019 was $0.4 million compared to $0.4 million in the fourth quarter of 2018. Operating income for the fourth quarter of 2019 mainly consisted of rental income of $0.7 million from the existing factory buildings located on the sites of Inno Valley and Wuxi.

Net operating income for the twelve months of 2019 was $1.6 million compared to $0.4 million in the twelve months of 2018. Operating income for the twelve months of 2019 mainly consisted of rental income of $2.5 million from the existing factory buildings located on the sites of Inno Valley and Wuxi.

Operating Loss

Operating loss for the fourth quarter of 2019 was $4.6 million compared to an operating loss of $3.6 million in the fourth quarter of 2018. Operating loss for the fourth quarter of 2019 mainly consisted of general and administrative expenses of $3.9 million and selling and marketing expenses of $1.1 million, which were offset in part by our net operating income of $0.4 million for the period. Operating loss for the fourth quarter of 2018 mainly consisted of general and administrative expenses of $3.5 million and selling and marketing expenses of $0.5 million, which were offset in part by our net operating income of $0.4 million for the period.

Operating loss for the twelve months of 2019 was $17.2 million compared to an operating loss of $20.8 million in the twelve months of 2018. Operating loss for the twelve months of 2019 mainly consisted of general and administrative expenses of $12.4 million and selling and marketing expenses of $6.5 million, which were offset in part by our net operating income of $1.6 million for the period. The expenses mainly included salary and benefits of $8.6 million, and accrued apartment rental commission of $3.9 million. Operating loss for the twelve months of 2018 mainly consisted of general and administrative expenses of $20.4 million, including accrual of compensation for loss of office of $3.7 million for the retirement of a senior officer, stock option compensation expenses of $2.9 million for certain officers and employees, salary and benefits of $6.6 million, depreciation of $3.7 million and audit, legal and professional fees of $1.4 million, which is offset by the net operating income of $0.4 million.  

Net Loss

Net loss for the fourth quarter of 2019 was $2.1 million compared to net loss of $6.3 million in the fourth quarter of 2018. Net loss for the fourth quarter of 2019 mainly consisted of operating loss of $4.6 million, which was offset in part by interest income of $0.4 million earned from time deposits, deferred income tax credit of $1.7 million and other net income of $0.4 million. Net loss for the fourth quarter of 2018 mainly consisted of a net operating loss of $3.6 million and a loss of $4.1 million related to the disposal of certain fixed assets in our Wuxi factory, which were offset in part by interest income of $1.0 million earned from time deposits.

Net loss for the twelve months of 2019 was $13.6 million compared to net loss of $13.3 million in the twelve months of 2018. Net loss for the twelve months of 2019 mainly consisted of operating loss of $17.2 million and other net loss of $0.4 million, which were offset in part by interest income of $2.4 million and deferred income tax credit of $1.7 million. Net loss for the twelve months of 2018 mainly consisted of a net operating loss of $20.8 million and a loss of $4.1 million related to the disposal of certain fixed assets in our Wuxi factory; which were offset in part by a gain of $6.8 million on the disposal of an office property in Hong Kong, interest income of $5.6 million earned from time deposits and other net loss of $0.7 million.

Cash, Cash Equivalents and Short-term Investment

Cash, cash equivalents and short-term investment increased by $20.3 million in the twelve months of 2019 from $109.9 million as of December 31, 2018 to $130.2 million as of December 31, 2019. This increase was mainly due to the payment of $134.6 million for real estate properties under development which was offset by $68.3 million advance from customers and $96.4 million long term bank loans obtained in 2019.

Real Estate Properties under Development, Net

Real estate properties under development increased by $80.3 million in the twelve months of 2019 from $171.6 million as of December 31, 2018 to $251.9 million as of December 31, 2019. This increase consisted of $80.3 million for the construction of both Nam Tai Inno Park and Nam Tai Technology Center.

Right of use assets

Right of use assets increased by $4.1 million in 2019. The increase was mainly due to the recognition of right of use assets for Nam Tai • Tang Xi Technology Park and Hong Kong office, which were $3.6 million and $0.5 million respectively, in accordance with Accounting Standards Codification ("ASC") 842 Leases which became effective January 1, 2019.

Deferred income tax assets

Deferred income tax assets increased by $1.7 million in 2019. No deferred income tax assets existed at the beginning of 2019. The increase was mainly due to the accumulated loss of $6.8 million incurred during the construction of Nam Tai Technology Center, which is expected to be utilized in the next five years.

Accounts Payable

Accounts payable decreased by $50.5 million in the twelve months of 2019 from $87.2 million as of December 31, 2018 to $36.7 million as of December 31, 2019. This decrease mainly consisted of accrued payables for the completed construction of both Nam Tai Inno Park and Nam Tai Technology Center.

Advance from Customers

Advance from customers increased by $68.3 million in the twelve months of 2019 from $0.3 million as of December 31, 2018 to $68.6 million as of December 31, 2019. This increase was mainly attributed to $68.3 million in prepaid rent received from customers of Nam Tai Inno Park.

Lease liabilities

Lease liabilities increased by $4.2 million in 2019. The increase was mainly due to the recognition of lease liabilities for Nam Tai • Tang Xi Technology Park and the Hong Kong office, which were $3.7 million and $0.5 million respectively, according to ASC842 Leases.

Short term bank loan

Short term bank loan increased by $1.4 million in the twelve months of 2019. No short term bank loan existed at the beginning of 2019. The increase was mainly due to the $1.4 million loan from China Everbright Bank for Nam Tai Technology Center.

Long term bank loans

Long term bank loan increased by $96.4 million in the twelve months of 2019. No long term bank loan existed at the beginning of 2019. The increase was mainly due to the $73 million loan from Bank of China for Nam Tai Inno Park, $7.2 million loan from Bank of Beijing, $12 million loan from Shenzhen Rural Commercial Bank for Nam Tai Technology Center and $4.2 million loan from Industrial Bank for Nam Tai Inno Valley.

Liquidity and Capital Resources

As of December 31, 2019, we had a total cash balance of $130.2 million. According to our project development plan, project investment for the first quarter of 2020 is estimated to be $22.2 million. The total project investment for 2020 is estimated to be $93.6 million.

With respect to the financing of Nam Tai Technology Center, Nam Tai Investment (Shenzhen) Co., Ltd. ("Nam Tai Investment"), a wholly-owned subsidiary of the Company, entered into a credit agreement with Baoan Branch of Shenzhen Rural Commercial Bank ("Shenzhen Rural Commercial Bank") in October 2019 for a credit facility of RMB1 billion with a period of five years for the construction of Nam Tai Technology Center. The credit facility was secured by the land of Nam Tai Technology Center and 100% equity of Nam Tai Investment. Zastron Electronic (Shenzhen) Co., Ltd. ("Zastron Electronic "), our wholly-owned subsidiary, also provided a guarantee. As of December 31, 2019, we had withdrawn RMB84 million from Shenzhen Rural Commercial Bank. The credit facility with Shenzhen Rural Commercial Bank was a key step in ensuring the construction progress of Nam Tai Technology Center.

With respect to the financing of Nam Tai Inno Park, after entering into the financing package with Bank of China in September 2019, we had drawn down RMB509.9 million for the construction of Nam Tai Inno Park.

With respect to other financing activities, Zastron Electronic entered into a project loan agreement with Zhuhai Branch of Xiamen International Bank ("Xiamen International Bank") in January 2020 for a loan facility of RMB110 million with a period of two years. This loan was secured by the buildings and the related land use right (land parcel number: A116-0018) which is located in the Namtai Road, Gushu Community, Xixiang Township, Baoan District, Shenzhen City and Nam Tai Investment provided jointly liability guarantee. In addition, we also entered into two other loan agreements with two separate financial institutions in the second half of 2019 for loan facilities of RMB30 million and RMB10 million, respectively, to be used as general working capital. The two loans were guaranteed by a third-party guarantee company, secured by our office properties in Qianhai, Shenzhen, and guaranteed by several of our subsidiaries. These loans have increased the Company's liquidity and expanded its sources of financing.

Please see the Company's Condensed Consolidated Statements of Comprehensive Income for further details. The information contained herein has also been published on the Company's website at https://www.namtai.com/quarterly/index.html.

RECENT DEVELOPMENTS

The development of our projects in Guangming and Gushu, Shenzhen, continue to proceed as planned.

For Nam Tai Inno Park ("Inno Park"), construction continued smoothly in the fourth quarter of 2019. In December 2019, the Company received the Construction Acceptance Reports of Inno Park, which demonstrated the capabilities of the Company in developing large-scale technology parks. In the fourth quarter, we held various industrial events in Inno Park, strengthening our brand image as a technology park operator, establishing contacts with potential technology enterprise tenants, and deepening the relationships with our partners. These industrial activities included the "Nam Tai Sub-Forum of 2019 Greater Bay Area Conference on Robotics and Artificial Intelligence" held in November 2019 and the "Private Advisory Board of Shenzhen Big Data and Artificial Intelligence Industry Alliance" held in December 2019. In addition, Nam Tai Inno Park won the "Technology Park Award of Guangdong High-tech Enterprise Kunpeng Award" from the Guangdong High-tech Industry Chamber of Commerce, affirming the quality of our technology park. As of December 31, 2019, we had leased approximately 34,848 square meters of Inno Park to tenants.

Nam Tai Inno Park was highly recognized by high-tech corporate tenants. In January 2020, we signed lease contracts with Taihang Automobile Company Limited, a new energy automobile company, for the lease of our office and commercial units. Taihang Automobile plans to set up its Shenzhen headquarter in Inno Park. The signing of the contracts and the introduction of a new economy enterprise reflected the market's high recognition of our project and operating capabilities, and also strengthened our brand image as a leading technology park operator.

Nam Tai Sub-Forum of 2019 Greater Bay Area Conference on Robotics and Artificial Intelligence

In November 2019, Nam Tai (Shenzhen) Industrial Operation Management Co., Ltd. ("Nam Tai Industrial Operation"), a wholly-owned subsidiary of the Company, co-hosted the sub-forum of "AI + Big Data Special Field - Development Trend and Application" in Shenzhen, together with China International Conference Center for Science and Technology, Shenzhen Association for Science and Technology as well as Shenzhen Industry-University-Research Institute Collaboration Association. Hosted by Professor Wang Zhidong from Chiba University of Technology in Japan, this forum was well-attended by prominent participants, including Huawei Altas Ecological Development Department, iFLYTEK Co., Ltd., Beijing Shenxing Technology Co., Ltd., Orbbec, Autox and the School of Computer Science and Technology of Harbin Institute of Technology (Shenzhen). At this sub forum, the "Shenzhen Big Data and Artificial Intelligence Industry Alliance", jointly hosted by enterprises and organizations including Nam Tai Industrial Operation, Harbin Institute of Technology Shenzhen and Shenzhen Industry-University-Research Institute Collaboration Association, was proposed to established.

Private Advisory Board of Shenzhen Big Data and Artificial Intelligence Industry Alliance

In December 2019, the Private Advisory Board of Shenzhen Big Data and Artificial Intelligence Industry Alliance was successfully held in Nam Tai Inno Park by Nam Tai Industrial Operation, in conjunction with Shenzhen Industry-University-Research Institute Collaboration Association, Southern University of Science and Technology. During the forum, Professor Ren Rongwei from School of Management in Sun Yat-sen University shared his research on the cutting-edge trends of AI in the United States. Other participants included scholars from Harbin Institute of Technology Shenzhen and management from over 20 technology companies in Shenzhen and Shanghai.

Progress on Nam Tai Technology Center

We continued to advance the construction of the main structure of Nam Tai Technology Center in the fourth quarter of 2019. At present, the garden landscape, exhibition hall and lobby in the exhibition area are under construction. In addition, the Company obtained "Payment Certificate of Land Price" and "Property Ownership Certificate" in September and November 2019, respectively, after paying the additional land premium of Nam Tai Technology Center. These key documents were essential for obtaining bank credit facilities.

Update on Nam Tai Inno Valley

As at December 31, 2019, the percentage of leased space at the Nam Tai Inno Valley ("Inno Valley") had maintained at approximately 89.2%, equivalent to approximately 33,033 square meters. In the fourth quarter of 2019, we continued to improve the operational level of Inno Valley and provide industrial support services for our enterprise tenants in the park. In this quarter, we held three industrial events in Inno Valley, including the "Nam Tai Inno Valley Smart Nam Tai App Promotion Conference" in October 2019, the "Unknown Convenience for Corporate Bank Financing" in November 2019, and the "Senior Economist Training" in December 2019.

As for our Wuxi facilities, we leased out the facilities and delivered them to a third party in February 2019.

Other Project Expansion

As for Nam Tai • Tang Xi Technology Park, we started the optimization and renovation in September 2019, and opened it for leasing in the fourth quarter of 2019. As of December 31, 2019, the leased space at Nam Tai • Tang Xi Technology Park had reached 1,737 square meters.

In addition, the Company continued to add asset-light operation projects and expand our business in the Yangtze River Delta Economic Zone. In December 2019, we entered into a leasing agreement with a third party and rented a number of units located in Lanqiao International Building, Century Avenue, Pudong, Shanghai, with a total leased floor area of approximately 3,981 square meters for a period of nine years. The project has been re-named as "Nam Tai • U-Creative Space (Lujiazui)", with a focus on attracting enterprise tenants in finance, design, consulting, advertising, technology innovation, among other industries.

Policy Update

In terms of policy development, the Commission of Shenzhen Municipality and General Office of Shenzhen Municipal People's Government issued the "Action Plan to Build Shenzhen Pilot Demonstration Area of Socialism with Chinese Characteristics (2019-2025)" (the "Action Plan") in December 2019. The Action Plan proposes a new round of innovation-driven development strategies, including the comprehensive promotion of the Science City in Guangming District. In addition, it also aims to develop a new generation IT industry with a focus on 5G-related technologies. We will pay close attention to the positive impacts of the Action Plan in Guangming District and to the potential development opportunities in the region.

The Ministry of Housing and Urban-Rural Development, National Development and Reform Commission, Ministry of Public Security, China Quality Certification Center, the China Banking and Insurance Regulatory Commission and Cyberspace Administration of China also issued the "Opinions on Rectifying and Regulating the Order of the Housing Rental Market" (the "Opinions") in December 2019. According to the Opinions, the relevant ministries should formulate policies for transforming idle commercial office buildings, industrial plants and other non-residential buildings into rental housing in accordance with laws and regulations. The buildings, which are renovated for rental purpose, should meet the requirements of construction, fire control and other relevant regulations. We will continue to monitor on the policy changes and evaluate the opportunities that may arise.   

OUTLOOK

Looking back on the economic environment and policies of China in 2019, the national economy was generally stable, with a year-on-year growth of 6.2% in the first three quarters of 2019, a year-on-year growth of 5.6% in the industrial sector adding value above designated scale nationwide and a year-on-year growth of 7.1% in the sales of commercial housing. The GDP of Shenzhen in the first three quarters increased by 6.6% year on year. Earlier in 2019, the Central People's Government of China and the State Council issued the "Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area" in February 2019 and "Opinions on Supporting Shenzhen to Build a Pilot Demonstration Area of Socialism with Chinese Characteristics" in August 2019, which outlined the direction for future development of the Greater Bay Area. A stable economic environment and favorable policies will help us to explore long-term opportunities in China.

The Company will actively seek out development opportunities in the Greater Bay Area, and China's first-tier and second-tier cities. In addition to the existing technology park development and operation businesses, we will also actively explore business opportunities for the development of residential and commercial properties. We believe that our commercial and financial status will be more balanced by combining the development and sales of asset-heavy projects with the operation and leasing of asset-light projects.

In 2020, we will continue to promote the leasing of Nam Tai Inno Park, strengthen our operating system, and proceed with the construction of our project according to the plan. The construction of Nam Tai Technology Center will be advanced. As for Inno Valley, the urban renewal application process is planned to be filed.

In terms of financing, based on the secured financing facilities, we will withdraw credit prudently in 2020 to support the construction of our projects, and continue to strengthen our liquidity management capabilities to ensure the sustainability and health of the operations and cashflow of the Company.

OPERATING RESULTS

Project Portfolio - As of December 31, 2019

Properties Under Development

The table below sets forth certain information of our property projects or project phases under development as of December 31, 2019, comprising properties for which the land use right certificate and construction permits have been obtained, construction is in progress but before construction acceptance certificates are obtained.

Properties for Future Development

The table below sets forth certain information of our property projects held for future development as of December 31, 2019, comprising properties for which we have obtained the land use right certificate or we have entered into land grant contracts although the land use right certificate is not yet obtained, or the relevant lands and resources authority has confirmed our successful bidding in a public auction.

Projects for Operation and Management

The table below sets forth certain information of our projects leased from third parties for operation and management as at December 31, 2019. 

Potential Risks in Our Business

In 2019, the total floor area and the vacancy rate of office properties in Shenzhen and Shanghai climbed while the rental rate declined. The increasing number of competing properties in the areas surroundings our projects also intensified the competition for tenants and purchasers. We may be forced to lower our rents or selling price and additional costs may be incurred to make our properties more attractive. The large number of competing projects may also result in increased costs of raw materials, hiring and retaining high-quality talents, or prolonged leasing periods, any of which may adversely affect the business operations, financial position and results of the Company.

Since the second half of 2019, we have been making new investments in operation projects which are owned by third parties. We may face challenges in attracting tenants and catering to their needs, such as building a more competitive operation system and enhancing the efficiency of our sales and operation teams, and may also be subject to additional compliance requirements. We may suffer a loss in the new projects in their early operation.

In November 2019, the Housing and Construction Bureau of Shenzhen Municipality issued the Notice on Guidelines for Archival Filing of Premises Leasing Enterprises (Trial) (the "Notice"). The Notice put forward filing requirements for entities and institutions engaged in the business of properties rental and industrial housing rental. In addition, the abovementioned Opinions, issued in December 2019, also set out requirements for the management of lease registration and the control of rent financing business. Regulatory requirements for the business of housing rental financing became more stringent. Rental loans are to be made based on the leasing contract signed and filed on the management network system, and the term of the loans shall not exceed the term of the contract. Stricter control imposed in the leasing industry may increase our costs to comply with the requirements.

One of our major shareholders, Kaisa Group ("Kaisa") owned approximately 24% of the issued common shares of the Company as of August 6, 2019. On December 31, 2019, Kaisa filed a Schedule 13D/A reporting all of its shares of Nam Tai were pledged to an affiliate of Deutsche Bank as a part of a credit facility, with Kaisa's voting rights currently unaffected. In the event that Kaisa triggers any default provision in the pledge arrangement, Deutsche Bank may have the right to appoint any person to be a receiver of the shares, transfer any or all of the charged securities or exercise the voting rights on the pledged shares without any prior notice. Accordingly, there may be adverse impact on the share price of Nam Tai.

The information contained in, or that can be accessed through, the website mentioned in this announcement does not form part of the announcement.

FORWARD-LOOKING STATEMENTS AND FACTORS THAT COULD CAUSE OUR SHARE PRICE TO DECLINE

Certain statements included in this announcement, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "might", "can", "could", "will", "would", "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "plan", "seek", or "timetable". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business and the industry in which we operate. These statements are only predictions based on our current expectations about future events. There are several factors, many beyond our control, which could cause results to differ materially from our expectation. These risk factors are described in our Annual Report on Form 20-F and in our Current Reports filed on Form 6-K from time to time and are incorporated herein by reference. Any of these factors could, by itself, or together with one or more other factors, adversely affect our business, results of operations or financial condition. There may also be other factors currently unknown to us, or have not been described by us, that could cause our results to differ from our expectations. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this announcement; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstance occurring after the date of this announcement or those that might reflect the occurrence of unanticipated events.

SCHEDULE FOR RELEASE OF QUARTERLY FINANCIAL RESULTS FOR 2020

To maintain the efficiency of delivering the Company's quarterly financial results to the market, the Company's management expects to release the quarterly financial results in accordance with the following schedule for 2020.

Announcements of Financial Results

ABOUT NAM TAI PROPERTY INC.

We are an owner, developer and operator of technology parks. We hold several parcels of land located in Guangming and Gushu, Shenzhen, China. We are converting two parcels of land that formerly housed the manufacturing facilities of our prior businesses into high-end technology parks, Nam Tai Inno Park and Nam Tai Technology Center. We expect our principal income in the future will be derived from rental income from these technology parks. Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP"). Please refer to the Nam Tai website (www.namtai.com) or the SEC website (www.sec.gov) for Nam Tai press releases and financial statements.

NAM TAI PROPERTY INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIODS ENDED DECEMBER 31, 2019 AND 2018
(In Thousands of US dollars)

1. These financial statements, including the consolidated balance sheet as of December 31, 2018, which was derived from audited financial statements, do not include all of the information and notes required by U.S. Generally Accepted Accounting Principles for complete financial statements and should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's annual report on Form 20-F for the fiscal year ended December 31, 2018.
2. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full year ended December 31, 2019.
3. Accumulated other comprehensive loss represents foreign currency translation adjustments. The consolidated comprehensive loss was $0.2 million and $5.6 million for the three months ended December 31, 2019 and 2018, and was $15.9 million and $23.7 million for the twelve months ended December 31, 2019 and 2018.
4. A summary of the operating income, other (expenses) income, net, net loss and long-lived assets by geographical areas is as follows:

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Related Links :

http://www.namtai.com

LONDON, Jan. 27, 2020 /PRNewswire/ -- A global leader in online multi-asset trading services and currency data and analytics, OANDA is pleased to announce the appointment of Emmanuel Coulon as Chief Technology Officer. He will be responsible for driving the firm's global technology strategy and providing technical leadership across all areas of the business.

With a career that spans almost three decades, Coulon has worked with several leading financial services and technology firms over the years. He joins OANDA from ADSS where he served as Global Head of Technology, having previously worked at leading firms such as ICAP, Grupo CIMD and Effix Systems / Reuters.

Gavin Bambury, Chief Executive Officer of OANDA, commented, "With almost 30 years' experience, Emmanuel combines deep-seated technical expertise with an in-depth understanding of the electronic trading industry, which will be critical to our success as we explore new ways to leverage our technology and drive future growth. I'm delighted to welcome him as our new Chief Technology Officer."

Coulon commented, "A Fintech company at heart, OANDA has long been driven by a culture of innovation and technical excellence. As such, I'm excited to being part of such a dynamic team and look forward to enhancing our technology solutions even further."

About OANDA

Founded in 1996, OANDA was the first company to share exchange rate data free of charge on the Internet, launching an FX trading platform that helped pioneer the development of web-based currency trading five years later. Today, the firm provides online multi-asset trading, currency data and analytics to retail and corporate clients, demonstrating an unrivalled expertise in foreign exchange. With regulated entities in six of the world's most active financial markets, OANDA remains dedicated to transforming the business of foreign exchange. For more information, please visit oanda.com or follow us on Twitter, Facebook or YouTube.

AMSTERDAM, Jan. 27, 2020 /PRNewswire/ -- Brilliance Financial Technology, a global leader in providing end-to-end digital pricing and intelligence, is pleased to announce its expansion and capabilities into Europe, with the opening of a new location in The Netherlands. The new office in Amsterdam will accelerate growth across Europe and continue to provide premium, on-demand client support, worldwide.

The new office reflects Brilliance's growing presence in Europe, including partnerships with some of the largest banks in the world. To accommodate this rapid expansion and the robust demand of new business prospects, Brilliance's local presence in the European region will drive the company's mission to work lockstep with decision makers, providing the highest quality of intelligent pricing services to their customers.

"The decision to open a location in Amsterdam was one in concert with the demands of a growing and dynamic market, as we have several banking customers looking to our next generation pricing solutions in Europe," said Jean-Edouard van Praet, President and CEO of Brilliance Financial Technology. "Our newest location will fortify our current services and enable us to grow our existing customer base in EMEA. Our proven track record working with the top global banks solidifies our commitment to further expand our full range of capabilities. Now, we have an even greater opportunity to leverage our local, top talent across Europe's regions."

Brilliance's presence in Amsterdam will add to their already strong presence in the U.S. and Australia, with additional investments in top talent.

Brilliance continues to diversify and leverage its deep domain expertise across wholesale, commercial and business banking. Brilliance's new presence in Amsterdam will be the company's fourth office, globally.

About Brilliance Financial Technology
Brilliance Financial Technology is a global leader in providing end-to-end digital pricing and intelligence, enabling the world's leading banks to optimize operations. As the leading provider of risk-based pricing and customer profitability systems, Brilliance enables banks to make smarter decisions, faster.

Brilliance's flexible and scalable solution, DealPoint, is uniquely tailored to each bank's pricing model, and allows for rapid automation of the pricing and approval process. DealPoint has been deployed in over 50 countries across the globe.

MIAMI, Jan. 26, 2020 /PRNewswire/ -- AlphaCredit^©, a Latin American-focused FinTech platform that specializes in consumer lending and financial solutions for SMEs, has signed an equity round for up to USD$125 million led by SoftBank's Latin America Fund, one of the leading technology investors in the world. The equity infusion will allow AlphaCredit^© to consolidate its place as one of the leading financial technology platforms in Latin America, continue its expansion and leverage the competitive advantages of its proven and profitable business model. The deal is subject to, among certain customary conditions to closing, the approval of Mexico's competition authority (COFECE) and certain third parties.

"We want to thank SoftBank's Latin America Fund and the other investors participating in this round for placing their trust in us and our innovative business model. Cutting edge technology and strong financial backing have allowed us to grow exponentially while promoting the economic development of a greater number of people that have limited access to credit," stated Augusto Álvarez, Cofounder and Co-CEO of AlphaCredit^©.

"Through this equity investment we will continue to provide fast, easy and flexible loans for individuals and small businesses, helping them improve their quality of life and promoting economic growth," mentioned José Luis Orozco, also Cofounder and Co-CEO of AlphaCredit^©.

"AlphaCredit^© provides fast, cheap credit lines to individuals and small companies via a programmed deduction system, which have low default rates thus allowing for low interest rates. Their approach is superior to everyone who belongs to their ecosystems and why we are so excited to back these awesome entrepreneurs who are changing the landscape in Mexico and Colombia," commented Paulo Passoni, Managing Investment Partner at SoftBank Group International. 

AlphaCredit^© has over eight years of experience lending in the Mexican and Colombian markets, with over $1 billion USD in loans granted to its clients which remain underserved by traditional banks or without access to other forms of financing. Through its platforms: AXS Access, Check!, Alcanza Capital and Bontu, AlphaCredit^© continues to offer tailor-made lending solutions to consumers and SMEs.

Other leading international venture capital funds along with a group of its existing investors are joining Softbank in this Series B round, contributing their experience to the development of the FinTech sector in Latin America.

José Luis Orozco, Cofounder of AlphaCredit^© mentioned: "We are committed to financial inclusion through innovation and technological development. We bring the best of both worlds to provide efficient access to credit and financial solutions to sectors underserved by traditional banking".

About AlphaCredit^©
AlphaCredit^© is a leading and one of the fastest growing technology-enabled financial platforms in Latin America, providing consumer loans and financial solutions for consumers and SMEs in Mexico and Colombia through innovative solutions and cutting-edge technology.

Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements.  Actual results may differ materially from those reflected in the forward-looking statements.  This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities.