Yongda Auto Embraces Oriental Yongda’s Fourth Anniversary and Commencement of Automobile Online Service Activities

HONG KONG, July 14, 2014 /PRNewswire/ — China Yongda Automobiles Services Holdings Limited (“Yongda Auto” or the “Company” and, together with its subsidiaries, the “Group“, stock code: 03669.HK), a leading passenger vehicle retailer and comprehensive service provider in China, is pleased to announce that Oriental Yongda, the only TV shopping automobile retailer in China created by Yongda and Oriental Shopping, officially launched the Car Exhibition on Oriental Shopping Website at its four-year anniversary. After four years’ operation, Oriental Yongda has cooperated with more than twenty well-known brands, including BMW, Audi, Cadillac, Buick, Chevrolet, Ford, Shanghai Volkswagen, Roewe and hundreds of models on its TV shopping platform, and has successfully broadcasted 300 series of automobile sales program. High-quality programs and high-value schemes have been recognized by the vast of car consumers. The automobile sales program created by Oriental Yongda has not only won the trust of many car consumers, but also gained the widespread attention and recognition from automobile industry and the media. Oriental Yongda has won the “Financial Innovation Award”, “The Most Influential Automobile Sales Platform”, “Best Marketing Innovation Award”, “Gold Award of the Greatest Marketing” and other honors by the China Automobile Dealers Association, the Shanghai Automobile Sales Association, Liberation Daily, China’s Famous Automobile Market and other well-known media and organizations.

The Car Exhibition on Oriental Shopping Website contains live car models, website exclusive offerings, used car exclusive sales and car rentals. The launch of the platform not only provides Oriental Yongda with strong Oriental Shopping TV platform, but also enables Oriental Yongda to step into e-marketing with the assistance of Oriental Shopping Website. The powerful combination of platforms overcomes the timeliness and limitations of TV programs, achieving the 24-hour uninterrupted online sales from 45-minute live show, and diversified development of the automotive services from single new car sales service. This time, Oriental Yongda has launched four business segments, which are used car sales, car rental and leasing, after-sales products, group buy of new cars, providing the vast of customers with a more comprehensive automobile-related services. Under the attention and care of the management from Oriental Shopping and Yongda Auto, Oriental Yongda will pay more attention to consumers’ experiences, constantly develop new products, actively improve service quality, gradually form the service system of car purchase, car maintenance and car upgrading, and to create an integrated automobile sales operators in the multi-media age.

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Noble Group and EIG Form New Energy Company

HONG KONG and WASHINGTON, July 14, 2014 /PRNewswire/ — Noble Group Limited (SGX: N21) (“Noble”) and EIG Global Energy Partners (“EIG”) today announced the formation and commitment to capitalize Harbour Energy, Ltd (“Harbour Energy”), a company that will own and operate upstream and midstream energy assets globally. Harbour Energy will seek to own high quality assets that provide exposure to key supply trends while capturing value up-lift associated with control of offtake, logistics and supply chain management. Noble will be preferred offtake and marketing partner of Harbour Energy, while EIG, together with the company’s internal management team, will serve as manager of the company and oversee the acquisition of assets. Harbour Energy’s capitalization will be funded solely through balance sheet capital of each of Noble and EIG.

EIG also announced today that Linda Z. Cook has been appointed a Managing Director of EIG, a member of EIG’s Executive Committee and CEO of Harbour Energy.

“The creation of Harbour Energy gives us the exciting opportunity of joining with an industry leader such as EIG to exploit the tremendous opportunities that the changing global energy markets are presenting,” said Yusuf Alireza, Chief Executive Officer of Noble. “This transaction represents a significant milestone in the continued implementation of Noble’s ‘asset light’ strategy, exploiting our best in class expertise in logistics and supply chain management, while partnering with market leading asset managers and owners.”

R. Blair Thomas, Chief Executive Officer of EIG, said, “New sources of supply, together with demand growth in Asia, are driving fundamental changes in the energy sector and related trade flows. By partnering with Noble, we believe Harbour Energy will be uniquely positioned to benefit from the established global platforms of each of our firms and capture value both through the ownership and operational improvement of assets and the flow business those assets generate. We couldn’t be more pleased that someone of the caliber of Linda Cook has agreed to join EIG and serve as CEO of Harbour Energy. She is an extraordinarily accomplished senior executive with deep operating and management expertise across all facets of the global energy industry.”

Etihad Airways to Launch Flights Between Abu Dhabi and Hong Kong

HONG KONG, July 10, 2014 /PRNewswire/ — Etihad Airways, the national airline of the United Arab Emirates, today announced the launch of a four times per week service between Abu Dhabi and Hong Kong from 15 June 2015.

The new flights will complement the existing services offered by Etihad Airways’ codeshare and network partner, Air Seychelles, ensuring a daily frequency between the two cities, and bringing the combined number of weekly seats offered on the route to 3,620.

Hong Kong will become Etihad Airways’ seventh destination in Northeast Asia and its fourth destination in Greater China joining Beijing, Chengdu and Shanghai.

James Hogan, President and Chief Executive Officer of Etihad Airways, said: “Hong Kong is an exciting and significant addition to our global network. The new services will offer our guests from Hong Kong and nearby southern China increased travel options and enhanced connections over our Abu Dhabi hub to 34 business and leisure destinations across the Gulf region, Europe and Africa.

“The new flights will support trade ties between the UAE and China, the UAE’s second largest trading partner. Hong Kong, the world’s largest cargo hub and Asia’s dynamic financial centre, gives us huge growth potential and a strengthened product offering for our global cargo customers.”

The UAE is Hong Kong’s largest export market in the Middle East. Hong Kong exports to the UAE rose 14 per cent to US$4.96 billion in 2013.

The additional 80 tonnes of weekly bellyhold capacity offered on the new Etihad Airways flights will open more business opportunities for trading partners in Abu Dhabi and Hong Kong, and strengthen the current four times per week Etihad Cargo freighter service and the existing bellyhold capacity offered by Air Seychelles’ three weekly flights between the two cities.

Known for its expansive skyline and deep natural harbour, Hong Kong is the third most important financial centre, after London and New York, with one of the greatest concentrations of corporate headquarters in the Asia-Pacific region.

The vibrant streets of Hong Kong offer a great blend of modern design and fascinating history. Hong Kong has something for everyone with bustling Asian markets, fine dining, high-end shopping, world-class luxury hotels and numerous tourist attractions.

Etihad Airways will operate a two-class Airbus A330-200 aircraft, configured to carry 262 passengers, with 22 seats in Business Class and 240 seats in Economy Class, offering a total of 2,096 seats per week.

The airline has announced six new routes for the first half of 2015, starting with Kolkata in February, Madrid in March, Entebbe in May, and Edinburgh, Hong Kong and Algiers in June.

The airline’s flights to and from Hong Kong can be booked from today on www.etihad.com, through Etihad Airways Contact Centres, or via travel agents.

Etihad Airways schedule for Hong Kong flights, effective 15 June 2015:

Flight No.

Origin

Departs

Destination

Arrives

Frequency

Aircraft

EY854

Abu Dhabi (AUH)

21:40

Hong Kong (HKG)

09:40

Mon, Wed, Fri and Sat

A330-200

EY855

Hong Kong (HKG)

19:20

Abu Dhabi (AUH)

23:50

Tue, Thu, Sat and Sun

A330-200

 

Air Seychelles’ existing schedule for Hong Kong flights:

Flight No.

Origin

Departs

Destination

Arrives

Frequency

Aircraft

EY4122
(HM86)

Abu Dhabi (AUH)

21:40

Hong Kong (HKG)

09:40 (+1)

Tue, Thu and Sun

A330-200

EY4121
(HM87)

Hong Kong (HKG)

18.55

Abu Dhabi (AUH)

23:25

Mon, Wed and Fri

A330-200

Note: All departures and arrivals are listed in local time.

Dangdang Launched “Super Speed Delivery” in 400 Cities of China

TIANJIN, China, July 10, 2014 /PRNewswire/ — The Tianjin warehouse center of Dangdang was formally put into use on 3rd July. In the meantime, Dangdang announced its service commitment of “111 super speed delivery” has covered 400 cities in China. On the same day, Dangdang also signed strategic agreements with some of the largest logistics corporations in China to improve nationwide delivery speed and service.

“111 super speed delivery” means “orders placed before 11 a.m. will be delivered within 12 hours, orders placed before 1 a.m. will be delivered within 24 hours.”

Dangdang adopts the mode of “self-built warehousing plus external logistics cooperation.” This mode can eliminate the disadvantage of separate management and form a coordinated process of logistics, data and management in order to achieve faster speed and lower cost than self-built logistics.

Dangdang speeds up: 16 new warehouses will be built in 2014

According to Dangdang’s warehousing manager Ren Qiang, Dangdang has completed 29 warehouse centers. By the end of 2014, the number will reach 45 in seven areas of China.

In addition to speeding up warehouse building, Dangdang improves the efficiency of the supply chain by opening its independently developed FDC pre distribution center to upstream suppliers, providing nearby delivery, centralized storage and value-added services of nationwide unified delivery.

According to data display, the FDC pre distribution center can improve 60 percent of timeliness of arrival and reduce 66 percent of the out of stock rate. At present, suppliers joined the FDC system accounted for 50 percent of total suppliers of Dangdang.

At present, the Tianjin new warehouse center is the biggest self-built warehouse center covering an area of more than 31 hectares. The total planned warehouse area is 200,000 square meters. 100,000 square meters has been put into use, and another 100,000 square meters will be constructed in the future.

Dangdang speeds up: the intercity transportation in 1-2 days

Dangdang promotes the efficiency of intercity transportation and express delivery by cooperating with large transportation and logistics enterprises in order to achieve faster speed and a wider range than self-built logistics.

Speaking of the acceleration of intercity logistics, Dangdang speeds-up the intermediate and long-range transportation by adhering to the strategy of openness and alliance and fully integrating social logistics resources such as express bus, aviation and high-speed rail.

According to the director of Dangdang’s logistics service department, Duan Yu, at present, the average delivery time can be shorted by 1.1 days by cooperating with large courier companies, which have mature and convenient trans-provincial bus system.

In the area of aviation, Dangdang already has close cooperation with major airlines in order to meet remote and fast requirements by providing special hours’ air freight.

In the meantime, Dangdang will realize its “111 super speed delivery” commitment for trans-provincial delivery with lower costs by carrying out an e-commerce special cooperation with China Railway Corporation and making use of the more than 1,000 lines of high-speed rail. For example, orders delivered from Beijing to Guangzhou by CRE in less than 24 hours are expected to cost more than 10 percent by air.

Dangdang speeds up: cooperates comprehensively with courier giants

Speaking of the citywide logistics, Dangdang strengthened the cooperation with large-scale third party logistics companies at the beginning of the year for the purpose of promoting the delivery speed and service upgrade. In this way, Dangdang’s service, “111 super speed delivery,” which has covered 400 cities, is a fundamental shift from the traditional outsourcing logistics with low efficiency.

One of the most important steps is the cooperation between Dangdang and large express companies. Dangdang breaks through the logistics value chain, let the couriers enter warehouses and sort orders, and realize a coordinated process from warehousing to delivery. Currently, the number of the delivery cities surpasses 1,800.

Dangdang’s vice president Yao Danqian stressed, “The mode in the past year proves that openness is better than isolation, cooperation is superior to competition. Openness and coordination between E-commerce industry and logistics industry is the general trend. Dangdang will further play the advantage of this pattern, deliver faster than self-built logistics, and accelerate the market expansion of the 3rd and 4th tier cities.”

On the scene, express delivery giants such as Shentong, Yuantong, Zhongtong and Yunda signed strategic cooperation agreements with Dangdang to increase preferential policies, optimize processes, open data and improve collaborative management, compelling the service “111 super speed delivery” to cover more cities and accelerate delivery speed. At the same time, all the parties will cooperate closely with Dangdang on the aspects of individuality service standards, customer delay compensation, logistics sharing between vendors, and mobile technology development.

Frost & Sullivan: Optimistic Growth in Indonesia’s Machine Tools Market

JAKARTA, Indonesia, July 9, 2014 /PRNewswire/ — Frost & Sullivan is optimistic on growth in Indonesia’s machine tools and cutting tools market due to the individual growth of the mining, power generation, automobile, aerospace & defense industry.

Mr. K Vinod Cartic, Consultant at Frost & Sullivan said that as the use of composite materials in automobile industry increases, diamond tipped tools will also grow faster vis-a-vis cemented carbide tools. Cement carbide tools are heavily used in the mining and power generation industry and steel and steel alloys are mostly used in fabrication of various components.

He also said that the use of intricate components in aerospace & defense industry is expected to promote use of high precision tools.

Mr. Cartic predicts that the machine tools and cutting tools market in Asia Pacific is likely to grow at a CAGR (compound annual growth rate) of 9.1 per cent (2012-2017), to reach revenues worth US$6.36 billion in 2017.

“Developments in infrastructure in China and India have increased the demand for machine tools and cutting tools. China became the world’s largest consumer of machine tools and cutting tools in 2002. In 2012 China also led in production. Rapid development across various industries and investments in infrastructure are the key reason for this growth,” he added.

He also said that many countries depend on China’s consumption to increase their export sales. He added that the growth of the Indian’s economy and its related industries also create a huge potential for investments in the Asia Pacific’s machine and cutting tools market.

Mr. Cartic said that in Indonesia, machine tools import in the automotive sector contributed 45 percent of the country’s total imports, while the remaining came from several other sectors such as oil and gas, or transportation. He said that the majority of imported machine tools are from Japan and China.

He added that the heavy industry market account for the major share in terms of consumption of machine tools and cutting tools, estimated at 57.3 percent globally in 2012. The heavy industry primarily consists of equipment and vehicles used in mining and power generation, he said.

Mr. Cartic also said that nuclear power generates 12.3 percent of the electricity produced worldwide and this is expected to increase in the long term. South East Asian countries like Indonesia, Thailand, Malaysia, and Vietnam are expected to account for 29 nuclear reactors by 2025, he added.

He said that the two most commonly used tools used in the automobile industry are cemented carbide and diamond cutting tools. “Diamond tools are used in the machining of lightweight non-ferrous materials such as aluminum, copper, tin and composite materials. The growing demand for these materials in the fabrication of automobile components is likely to increase the demand for diamond tipped cutting tools,” he added.

“Machine tools and cutting tools manufacturers are likely to benefit from sales boost with production of automobiles likely to increase tenfold in Indonesia, India and China in the next five years,” he said.

He added that the growth of the machine tools and cutting tools market in the Oil &Gas (O&G) industry during the forecast period can be attributed to the increasing oil exploration activity in various regions across the world. Shell, Petrobras, and other major O&G companies are likely to invest in production platforms in countries such as Brazil, Malaysia, and Indonesia.

Mr. Cartic noted said that the global machine tools industry is in the growth stage. The estimated revenue is over US$15 billion and the CAGR between 2014-2017 is expected to be 6.2 per cent. “It is a highly price sensitive market and the market is controlled largely by the top few market participants,” he added.

He also noted that Indonesia became Taiwan’s 6th biggest market for machine tools in the first 10 months of 2012. Taiwan Association of Machinery Industry (TAMI) statistics showed that Taiwan’s exports of machine tools to the Southeast Asia surged 23.5 percent year on year in the Jan.-Oct. period of 2012, during which the island’s total machine tool exports increased 9.2 percent from the same period of last year to US$3.50 billion.