China Public Procurement Limited Signed Several Framework Cooperation Agreements and A Memorandum of Understanding

Development in Electronic Procurement Market

HONG KONG, Aug. 27, 2014 /PRNewswire/ — China Public Procurement Limited (Stock code: 1094), “The Company”, “The Group” or “CPP”, announced at its board meeting that CPP signed framework cooperation agreements with several procurement technology companies. The board also signed a memorandum of understanding on an acquisition of a local technology company.

A wholly owned subsidiary of CPP, CPP (Beijing) Technique Co., Ltd. signed a framework cooperation agreement with Beijing Yangguang Gongcai Technology Company Limited (Beijing Sunshine). The agreement stated an intention for cooperation on promoting the Government’s electronic procurement platform, exchanging of procurement news and information, sharing on data and reciprocity agreement on vendors, etc. The generated sales and income will be shared among the two companies on a pro-rata basis. Beijing Yangguang Gongcai Technology Company Limited is established in 2013 as a platform for public resources exchange, developers and operators of software applications. A number of software products developed by Beijing Sunshine have been applied in the electronic procurement market at a governmental level.

Furthermore, CPP (Beijing) Technique Co., Ltd. signed a credit investigation cooperation agreement with Beijing Credit Management Company. The agreement includes providing supplier credit investigation and credit rating services, providing technical support such as data management of corporate credit investigation, encoding of company identification, and establishment of credit information application platform, etc. to CPP (Beijing) Technique Co., Ltd. Beijing Credit Management Company is a company principally engaged in the provision of credit investigation services in the PRC and it is a PRC government recognised institution for industry credit rating.

CPP has also entered into a memorandum of understanding to make an acquisition of no less than HK$30 million of Diko Global Group Co., Limited (Diko Global). Diko Global is principally engaged in the wholesale and distribution of Western Digital hard drives in Hong Kong and the PRC, and it is one of the sales distributors of Western Digital hard drives in the PRC region. CPP believes that the Proposed Acquisition will broaden the Group’s client base and its source of income.

Mr Cheng Yuanzhong, Chairman of CPP said: “China Public Procurement Limited’s signing of another cooperation framework agreement will help consolidate and expand the side of the business organizations of e-procurement platform, which will in turn enhance technology standards, diversify the levels of procurement related information and expand the areas of business. As Diko Global is within our area of business, we believe the acquisition will also bring us significant value and immediate revenue. We believe these cooperation agreements and this proposed acquisition will also enhance the competitiveness of the company in the long-run, and provide more favourable returns to shareholders.”

About China Public Procurement Limited

China Public Procurement Limited is listed on the Main Board of The Stock Exchange of Hong Kong (stock code: 1094). The Group is principally engaged in the development of the public procurement services which involves the provision of procurement services to general public and government in the PRC, also for the global public procurement, and provides a series of public procurement business related services, including financial services.

New Business Opportunities Prop up Business Confidence in China, Against a Darkening Macro Outlook

HONG KONG, Aug. 27, 2014 /PRNewswire/ — Business confidence recovered in mainland China in the second quarter of 2014, returning to levels last seen a year ago, according to the largest regular economic survey of finance professionals around the world.

Thirty per cent of respondents reported confidence gains, up from 25% in the first quarter of 2014, while 43% reported a loss of confidence, down from 53%, The latest findings of the Global Economic Conditions Survey organised by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants) show.

In Hong Kong, confidence also rose marginally, suggesting that the lows of late 2013 have been mostly overcome, but business performance has become much more volatile. 23% of respondents reported confidence gains, up from 10% previously, while 46% reported a loss of confidence, also up from 36%.

Manos Schizas, senior economic analyst with ACCA said: “The relative buoyance in China was mostly due to greater opportunities for organic growth. In the mainland, readings in this respect were better than at any time in 2013, and in Hong Kong they were better than they’ve been in at least two and a half years. Despite this, access to growth capital tightened throughout the country. The recovery in the mainland is clearly more robust.”

Opportunities for non-organic growth ticked up and a second consecutive quarter of improving cashflow and demand conditions helped keep spirits high. The opposite was true in Hong Kong, where cashflow and demand deteriorated in the second quarter and opportunities for non-organic growth  already very low by global standards  fell sharply.

Marginal business confidence gains stand in contrast to a deteriorating macro-economic outlook throughout the country. In mainland China, this change has been mild: 61% of respondents (down from 62%) believe conditions are getting worse or stagnating, against 35% who believe they are improving or about to do so (down from 38%). But in Hong Kong, the macro outlook has darkened significantly: the share of pessimists among the GECS sample has soared from 35% in early 2014 to 62%. Only 35% (down from 52%) are optimistic.

Finally, respondents’ expectations of government spending in mainland China fell once again in the second quarter of 2014, suggesting that public investment is not on the road to recovery yet. But the overall investment environment appears to be tapering out, and China’s slowdown could soon bottom out into a stable ‘new normal.’ 

Globally, the economic recovery has once again run out of momentum, according to GECS.

Business confidence fell marginally in Q2 2014, and is becoming increasingly reliant on financial stability. The two bodies believe that this is a sign of mounting risks for the future of the recovery.

Although the change in business confidence between Q1 and Q2 2014 is statistically negligible, this apparent stability is the result of dwindling business opportunities and an improving investment environment cancelling each other out, according to the report’s findings.

The survey shows that there is growing business dynamism around the world, with North America and South Asia leading the charge in terms of capital spending, new orders and headcount. Conversely, Africa and the Middle East fared worst, with all three areas either falling or stable.

Overall, most of the world’s confidence boost appears to be coming from North America, as well as a temporary rebound in Central and Eastern Europe, but improvements in these regions were balanced out by receding optimism throughout Asia, Western Europe, Africa and the Middle East. Post-Taper, emerging markets are still underperforming in crucial areas such as access to growth capital, but the gap between them and the more developed markets is now narrowing.

One positive sign for the Asia Pacific region and beyond is that China’s prolonged slowdown is now starting to bottom out, which should be good news for a range of suppliers and commodity producers worldwide.

On a country-by-country basis, it is clear that much of the recovery in business confidence is temporary. For instance, encouraging figures in China and Russia were boosted by the signing of a series of major long-term trade and investment deals, while fieldwork closed before the loss of flight MH17 and its aftermath, which will certainly depress confidence in Central and Eastern Europe in Q3.

Despite relatively good news from the real economy, the survey also revealed that the first half of 2014 had been a very depressing time for major Western banks, and became more so in the second quarter. GECS figures for large financials in the US and Europe suggest that confidence in the sector retreated sharply in anticipation of tougher stress tests, rising interest rates and falling property prices, geopolitical risks and the threat of tougher regulatory enforcement.

Manos Schizas said: “After a year of solid improvement in 2013, it’s clear that 2014 is not going to be anywhere near as benign for the global economy. Many of the sources of good news in 2013  including large financials and ‘austerity survivors’ such as the UK and Ireland are turning negative again. The Chinese slowdown, which has been a constant drain on the global recovery, may be coming to an end, but the looming geopolitical risks in Eastern Europe and the Middle East are likely to prove just as damaging in the medium term.”

View the full report here:
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2014/august/gecsr-2014-q2.html

Notes to Editors

  1. ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
  2. We support our 170,000 members and 436,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of 91 offices and centres and more than 8,500 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence.  
  3. As the first global accountancy body entering into China, ACCA now has over 23,000 members and 48,000 students, with 8 offices in Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen, Shenyang, Hong Kong SAR, and Macau SAR.
  4. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accounting professionals bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.
  5. For more information, please visit:
    www.accaglobal.com | www.facebook.com/ACCA.HongKong

Nespresso Launches Its 2020 Sustainability Ambition and the Nespresso Sustainable Development Fund

MILAN, Aug. 27, 2014 /PRNewswire/ —

CHF 500 million overall investment, with CHF 15 million to develop AAA coffee growing programs in Africa 

On the occasion of the second annual meeting of the Nespresso Sustainability Advisory Board, Jean-Marc Duvoisin, CEO of Nestle Nespresso, set out an ambitious strategy to accelerate the company’s sustainability focus and introduce several major new initiatives that will create significant benefits for the business, society and the environment.  The new sustainability program entitled The Positive Cup will be based on an investment of CHF 500 million over the next six years. Part of this investment will be used to establish a new Sustainable Development Fund, which will play a key role in channelling resources into specific projects. The new strategy is supported by members of the Nespresso Sustainability Advisory Board (NSAB) including the Rainforest Alliance, Fairtrade International, the International Union for the Conservation of Nature (IUCN) and brand ambassador George Clooney.

     (Photo: http://photos.prnewswire.com/prnh/20140827/703180 )

The Positive Cup strategy, based on the Nestle approach to Creating Shared Value, builds upon the significant steps that the company has already taken over the last five years*  to improve farmer welfare and drive environmental sustainability in coffee sourcing and consumption. It sets out concrete steps that the company will implement to achieve its sustainability goals by 2020. The fund will be used to finance the range of programs, which form part of the strategy as well as to attract additional external partner funding.

“Our sustainability approach has always been designed to do more than simply minimise impacts,” said Mr. Duvoisin. “The development of even more innovative programs with our partners demonstrates our commitment to creating shared value and generating positive impacts for all stakeholders across the entire value chain. This CHF 500 million investment significantly builds on our current sustainability investment to ensure the long-term success of our business model. This includes securing access to the one to two percent of coffee produced in the world that meets our strict quality and taste standards through our AAA Sustainable Quality™ Program. This approach also allows us to innovate thanks to the direct relationships we build with farmers. The Sustainable Development Fund will allow us to allocate new funding to groundbreaking programs such as the reviving of the coffee sector in South Sudan.”

The Positive Cup Commitments 

The Positive Cup program incorporates ambitious goals in the areas of coffee sourcing and social welfare; aluminium sourcing, use and disposal; and resilience to climate change.  Specifically, by 2020 Nespresso commits to:

Coffee – 100% sustainably sourced coffee 

  • Source 100% of its permanent range of Grand Cru coffees sustainably through the Nespresso AAA Sustainable Quality™ Program by significantly expanding the AAA Program in Ethiopia, Kenya and South Sudan, and investing over CHF 15 million in these countries over six years.
  • Assist farmers to achieve high certification standards (in water management, biodiversity and fair treatment of workers, for example) through our long-term partner Rainforest Alliance (since 2003) and Fairtrade.
  • Pursue innovative solutions to farmer welfare, including the expansion of the AAA Farmer Future Program initially through a retirement fund for farmers in Colombia.

Aluminium – 100% sustainably managed aluminium 

  • Expand the capacity to collect used aluminium capsules to 100% wherever the company does business and increase recycling rates.
  • Recycle Nespresso capsules collected by the company into new Nespresso capsules each time it makes sense environmentally**.
  • Source 100% of virgin aluminium capsule material compliant with the new Aluminium Stewardship Initiative standard, being developed within a multi-stakeholder programme led by the IUCN.

Climate – 100% carbon insetting***

  • Further reduce by 10% the carbon footprint of the company.

In addition, become 100% carbon neutral. Nespresso plans to inset its residual operational carbon footprint and increase farm climate resilience through an extensive agroforestry programme.

“Our business model enables us to be involved in every stage of coffee sourcing, production and sale. It allows us to maintain particularly close relationships and have a direct dialogue with our consumers and Club Members,” said Mr. Duvoisin. “As a result, we have a unique opportunity to strongly engage with our Club Members to achieve our Positive Cup commitments, in particular as it relates to capsule recycling. Nespresso cannot achieve its objectives alone. We call on our Club Members to actively take part in furthering our recycling efforts.”

Nespresso Sustainability Advisory Board – Driving innovation and collaboration 

The second annual NSAB brought together long-time Nespresso brand ambassador George Clooney, partners including The Rainforest Alliance, Fairtrade International, TechnoServe, IUCN and Pur Projet and Nespresso management, to help the company enhance its long term sustainability strategy and to serve as a base for partnership on sustainability initiatives.

The collaborative platform has played an important role in shaping the company’s approach and informing the development of innovative and impactful programs.

“We are proud of our long-standing relationship with Nespresso,” said Tensie Whelan, President of the Rainforest Alliance. “This cutting edge approach will help us further build on the real impact we together are having on the ground in farming communities, driving economic and environmental benefits for over 60,000 farmers who are part of the AAA Program. The Nespresso commitment to increase the amount of Rainforest Alliance certified coffee to 50% is an important next step in our collaboration and will provide further assurances to consumers that the coffee they are buying is having a positive impact.”

“The AAA Farmer Future Program, coming out of the Nespresso and Fairtrade commitment to work together, will bring measurable benefits to farmers and their families in Caldas, Colombia,” said Harriet Lamb, CEO of Fairtrade International. “Farmers selling to Nespresso now have the option to invest Fairtrade Premiums in this first-of-its-kind retirement fund. It’s good news for the farmers – whose average age is over 50 and who face an uncertain future – and one way to help protect the future of coffee in Colombia by offering better, long-term prospects.”

“If there is to be lasting peace and prosperity in South Sudan, part of the equation will be a diversified economy and opportunities that benefit the people of the country,” said George Clooney. “The investment by Nespresso and TechnoServe in South Sudan’s coffee sector, even while the conflict is ongoing, is providing much-needed income for hundreds of farmers and their families living in coffee communities. It is also an investment in South Sudan’s future prospects for peace and economic development, where wealth is created and shared. What Nespresso and TechnoServe are doing in partnership with South Sudanese agricultural cooperatives in the coffee sector can provide a model for other agricultural investments.”     

“The approach that Nespresso is taking is completely aligned with the vision we have to integrate social and environmental innovations into the heart of business,” said Tristan Lecomte, President of Pur Projet. “We believe that investing in reforestation of agricultural regions will not only restore natural ecosystems but ultimately also improve coffee quality and productivity and provide better returns for farmers.”

“We are pleased to be able to work with Nespresso to foster greater sustainability and transparency throughout the aluminium value chain,” said Julia Marton-Lefèvre, Director General of IUCN.  “The forward looking approach that the company is taking to further expand its recycling solutions and encourage consumers to recycle will be greatly strengthened by the commitment to source 100% of virgin aluminium capsule material compliant with the new Aluminium Stewardship Initiative standard. The company has played a leading role in initiating the new standard and continues to be a strong proponent for sustainable aluminium use.”

* Nespresso 2013 sustainability commitments 

Nespresso has met and surpassed its 2013 sustainability commitments, set out in 2009. The company has exceeded its goal of sourcing 80% of its coffee from its AAA Sustainable Quality™ Program (84%), putting in place the capacity to recycle over 75% of Nespresso capsules sold worldwide (80%) and reducing the carbon footprint of a cup of Nespresso coffee by 20% (-20.7%).

** For example, in UK, France, Switzerland, Belgium, Luxembourg, Netherlands, Austria and Italy.

*** Definition of insetting: unlike “offsetting” traditional carbon compensation where compensation takes place in a different location using uncorrelated actors and technical activities, “insetting” integrates socio-environmental commitments at the heart of the companies’ business activities and networks.

More information: 

Videos: http://www.youtube.com/nespresso 

Backgrounders on AAA Program in Africa, AAA Farmer Future Program and agroforestry available here: http://www.nestle-nespresso.com/media/library/documents

Nespresso Sustainability Advisory Board members and description: http://www.nestle-nespresso.com/ecolaboration/sustainability-advisory-board/sustainability-advisory-board

About Nestle Nespresso SA 

Nestle Nespresso SA is the pioneer and reference for highest-quality portioned premium coffee. Headquartered in Lausanne, Switzerland, Nespresso operates in almost 60 countries and has more than 9,500 employees. In 2013, it operated a global retail network of over 320 exclusive boutiques. For more information, visit the Nestle Nespresso corporate website: http://www.nestle-nespresso.com.

CONTACT
Diane Duperret
Corporate PR Manager, Nestle Nespresso SA    
diane.duperret@nespresso.com
T: +41-21-796-92-89

Frost & Sullivan: Change in Demographics and Surge in Domestic Manufacturing Drive Asia-Pacific Medical Devices Market

— Collaborations with academia and hospitals will be vital for development of multi-disciplinary technologies

KUALA LUMPUR, Malaysia, Aug. 27, 2014 /PRNewswire/ — Higher disposable incomes and the rapid penetration of health insurance are fuelling the demand for medical devices in Asia-Pacific. With the rise of medical tourism, the inflow of patients requiring medical and surgical intervention is further increasing. The market will continue its steady ascent as the region’s burgeoning population becomes increasingly vulnerable to age-related and non-communicable diseases, compelling significant investments in the domestic manufacturing of medical devices.

New analysis from Frost & Sullivan, 2014 Asia-Pacific Medical Devices Outlook, finds that the market earned revenues of US$53.13 billion in 2013 and estimates this to reach US$98.97 billion in 2018. The study, which analyses the opportunities, business models, medical device market revenues, and region-wise market, covers cardiac, orthopedic, wound care and wound closure, and minimally invasive surgery devices.

“The need for faster recovery, accuracy, and precision to ensure early discharge from hospitals will drive the development of new technology in medical device products,” said Frost & Sullivan Healthcare Consultant Poornima Srinivasan. “Manufacturers are also turning to frugal innovation, designing ‘as-is’ products to meet the needs of a domestic market burdened by rising healthcare costs.”

This is crucial as healthcare spending in most Asia-Pacific countries remains conservative, with tight budgets stalling consumer expenditure on expensive equipment. To counter this, manufacturers need to leverage proper distribution strategies and aggressively launch cost-effective yet high-quality, sustainable business products.

Contract manufacturing will become a common trend, since multinational products are exorbitantly priced and many governments have liberalized policies for domestic manufacturing. Partnering with ancillary services available in Asia-Pacific countries too could bring down the cost of products.

“As regional production gathers pace, and considering the multi-disciplinary nature of medical device technologies, industry integration with academia and hospitals is vital,” noted Srinivasan. “Such collaboration will aid technology transfer, improve competitiveness, and ultimately strengthen industry understanding of healthcare and services needs in the region.”

If you are interested in more information on this study, please send an e-mail to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

2014 Asia-Pacific Medical Devices Outlook is part of the Advanced Medical Technologies (http://www.medtech.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Emerging Interventional Cardiac Devices Market, Endoscopy Devices Market in Australia, South Korea, and Southeast Asia, and Image-guided Surgery and Robot-assisted Surgery Market in Asia-Pacific. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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2014 Asia-Pacific Medical Devices Outlook
P7D5-54

Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com

Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com

Melissa Tan
Corporate Communications – Asia Pacific
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F: +65 6890 0999
E: melissa.tan@frost.com

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Golden Teardrop by Arin Rungjang from Thailand Shortlisted as Finalist in Third Asia Pacific Breweries Foundation Signature Art Prize

15 finalists vying for SGD 60,000 Grand Prize revealed today

BANGKOK, Aug. 27, 2014 /PRNewswire/ — The Singapore Art Museum (SAM) and Asia Pacific Breweries (APB) Foundation today announced the 15 finalists of the APB Foundation Signature Art Prize 2014. Now in its third installment, the prize spotlights the most compelling contemporary artworks created by artists in the Asia Pacific region over the last three years.

 

Selected by a panel of five eminent judges from around the region, the finalists’ works were chosen from 105 nominated artworks from 24 countries and territories. Innovative and exciting creations from recent years, the contemporary artworks represent the very best of the region and are intentionally not limited by genre. Spanning various mediums from painting to sculpture, photography, video works and performance art, they each address topical issues and collectively shed light not just on our region’s contemporary art landscape but also on the topics and conversations relevant in our society today.

The 15 finalists represent 13 countries and territories including Thailand, South Korea, Pakistan, Japan, Singapore, New Zealand, mainland China, Indonesia, Vietnam, Australia, India, Bangladesh and Taiwan. They include:

  • Golden Teardrop (2013) by Arin Rungjang from Thailand
  • Custos Cavum (Guardian of the hole) (2011) by Choe U-Ram from South Korea
  • Kahani Eik Shehr Ki (story of a city) (2012) by Farida Batool from Pakistan
  • One places / on “the room” (2013) by Go Watanabe from Japan
  • PYTHAGORAS (2013) by Ho Tzu Nyen from Singapore
  • In Pursuit of Venus (2012) by Lisa Reihana from New Zealand
  • Trace (2011) by Liu Jianhua from mainland China
  • I’m a Ghost in My Own House (2012) by Melati Suryodarmo from Indonesia
  • Rankin Street, 1953 (2013) by Naeem Mohaiemen from Bangladesh
  • Unsubtitled (2013) by Nguyen Trinh Thi from Vietnam
  • Infinite Love (2011) by Owen Leong from Australia
  • Letters From A Distance (20122014) by Peng Wei from mainland China
  • House of Opaque Water (2013) by Ranbir Kaleka from India
  • Mirage — Disused Public Property in Taiwan (20102013) by Yao Jui-Chung + Lost Society Document (LSD) from Taiwan
  • Eskimo wolf trap often quoted in sermons (2013) by Zhao Renhui from Singapore

(For detailed artist’ statements and biographies, please visit http://www.singaporeartmuseum.sg/apbfSAP2014.html)

Selecting this year’s Finalists is a judging panel comprising Mr. Chris Saines, Director of Queensland Art Gallery | Gallery of Modern Art; Mr. Feng Boyi, eminent independent art curator and critic of Chinese contemporary art; Ms. Luckana Kunavichayanont, Director of Bangkok Art and Culture Center; Ms. Pooja Sood, Director of KHOJ International Artists’ Association; and Dr. Susie Lingham, Director of Singapore Art Museum.

A statement from the jury panel stated, “We’re excited to be presenting the finalists of the APB Foundation Signature Art Prize 2014. Narrowing the choice from over 100 works to the final 15 involved a rigorous selection process and intensive discussions — testament to the high caliber of entries that were refined, rich and diverse. Overall, the 15 works selected offer a glimpse of the future of our region’s rich and constantly evolving contemporary art scene. The finalist works stood out for their strength of concept and execution and despite stemming from such diverse contexts, histories and cultural backgrounds, cleverly explored similar issues of identity, immigration, urban expansion, depletion of natural resources, fading of old values, cultural diversity and more.”

The work by Arin Rungjang, the only Thai artist shortlisted for the prestigious title, is a video installation that debuted at the Venice Biennale as part of the Thai Pavilion in 2014. Golden Teardrop revisits pivotal moments in Thai history and looks at the human movement and the exchange of cultures.

Other finalists works include Melati Suryodarmo’s I’m a Ghost in My Own House, an intense and powerful 12-hour long performance that sees the artist grind and crush hundreds of kilograms of charcoal, a symbol of life’s energy while Australian Owen Leong’s Infinite Love, a visceral and poetic performance, explores the body as a physical site for social, cultural and political forces in relation to his Asian-Australian identity.

Employing the use of meditative visuals, Go Watanabe’s One places / on “the room” presents a technically challenging and deeply absorbing piece that changes the way we look at time and space; Ranbir Kaleka’s House of Opaque Water uses a narrative structure to present the idea of displacement and society’s response to these situations; and New Zealander Lisa Reihana’s work In Pursuit of Venus reflects the beauty of the Pacific Islands while offering a nuanced critique of its colonial legacies.

Works shortlisted from Singapore include Ho Tzu Nyen’s PYTHAGORAS, a creation that serves as an immersive experience for audiences to explore the concept of the unseen and the concealment of power, sound or the voice; while Zhao Renhui’s seemingly minimalist installation titled Eskimo wolf trap often quoted in sermons, draws on his experience of traveling through the Arctic and being overwhelmed by its starkness. From mainland China the works shortlisted include Liu Jianhua’s Trace, a striking piece inspired by the traditional art forms of calligraphy and porcelain to comment on societal ills and Peng Wei’s Letters from a Distance, which is steeped in traditional practices and utilizes Chinese aesthetic objects like scrolls and leaves melded together with texts from Western philosophers.

And from South Korea, Choe U-Ram’s Custos Cavum (Guardian of the hole) takes the form of a mesmerizing and highly imaginative sculpture that depicts a mythical creature that is at once from the past yet also from an apocalyptic future.

Exemplifying how art has the power to highlight a social issue for scrutiny and exact real change, Yao Jui-Chung & Lost Society Document (LSD)’s Mirage — Disused Public Property in Taiwan is an investigative political work on Taiwan’s ‘mosquito halls’ while Nguyen Trinh Thi’s Unsubtitled looks at freedom of expression through an installation about Nhan Van-Giai Pham — a suppressed literary movement of the 1950s.

Finally, exploring spaces and places, Pakistan’s Farida Batool’s Kahani Eik Shehr Ki (story of a city) brings viewers on a walk down a busy city street in Lahore, capturing the side of a city that people may not know of via 21 long lenticular prints while Naeem Mohaiemen of Bangladesh presents Rankin Street, 1953, an intimate work that reveals the artist’s memories of his family using his family home as the subject and uncovering the past through vintage photograph negatives.

The APB Foundation Signature Art Prize is worth $100,000 with $60,000 awarded to the Grand Prize winner and $15,000 each for two Jurors’ Choice Award winners. A People’s Choice Award of $10,000 will also be offered to the artwork that receives the highest number of public votes via on-site and online submissions (voting opens from 14 November 2014).

The APB Foundation Signature Art Prize Exhibition will take place at SAM from 14 November 2014 to 15 March 2015 with the winners announced at an awards ceremony on 22 January 2015. For more information, please visit the APB Foundation Signature Art Prize webpage at http://www.singaporeartmuseum.sg/apbfSAP2014.html.

About the Asia Pacific Breweries (APB) Foundation

Instituted in June 1994, the APB Foundation seeks to ignite compassion and inspire through our philanthropic efforts. We set resources in motion to help people and organisations improve talents, enhanced educational and research endeavours as well as better living conditions. In turn, we fuel society and enable the communities, where we live and work, to flourish.

Committed to supporting Human Excellence, Creativity Development and Humanitarian Causes, the APB Foundation is involved in a variety of initiatives that range from arts funding and backing talent-building projects for human capital development, to engaging in meaningful partnerships with organisations or individuals who share our common goal to serve the society.

The APB Foundation is a registered charity managed and funded by Heineken Asia Pacific Pte. Ltd. (HEINEKEN Asia Pacific).

About the Singapore Art Museum

The Singapore Art Museum (SAM) focuses on contemporary art practice in Singapore, Southeast Asia and Asia within the global context. It advocates and makes accessible interdisciplinary contemporary art through research-led and evolving curatorial practice. Opened in January 1996, SAM has built up one of the most important collections of contemporary art from the region. It seeks to seed and nourish a stimulating and creative space in Singapore through exhibitions and public programmes. These encompass cross-disciplinary residencies and exchanges, research and publications, as well as outreach and education. SAM was the organiser of the Singapore Biennale in 2011 and 2013.

SAM was incorporated as a Company Limited by Guarantee on 13 November 2013 and has moved from the National Heritage Board to the Visual Arts Cluster (VAC) under the Ministry of Culture, Community and Youth (MCCY). The other institutions under the VAC are the National Art Gallery, Singapore (NAGS), and the Singapore Tyler Print Institute (STPI).

For more information and images of the artists and judges, please contact:

Kimberly Mah

Lynn Sim

Ogilvy Public Relations

Singapore Art Museum

DID: +65-62139940

DID: +65-66979762

Email: kimberly.mah@ogilvy.com

Email: lynn.sim@singaporeartmuseum.sg

Janet Neo

Asia Pacific Breweries Foundation

DID: +65-62763488

Email: janet.neo@heineken.com

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