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After Eking Out Small Revenue Growth, Billionaire Pony Ma Says Tencent Will Keep Cost-Cutting Measures

March 23, 2023 by www.forbes.com

Share to Twitter Share to Linkedin Tencent Holdings is back growing again, after two quarters of falling revenue, but cofounder and billionaire Pony Ma still wants the company to pursue cost-cutting measures and improve efficiencies. The 51-year-old Ma, who is currently the country’s third richest man, saw his wealth shoot up by $3.7 billion to $39.3 billion on Thursday, after the WeChat operator on Wednesday reported a slim 0.5% revenue gain to $20.8 billion for the last three months of 2022. Shares of the Hong Kong-listed firm surged 8.2% as investors are hopeful about the outlook for advertising and international games expansion as future growth drivers. Bu Ma appears to be only cautiously optimistic about growth. In the mogul’s once-in-a-year address with media discussing Tencent’s performance, he said the tech behemoth would keep following the direction of improving efficiency and cutting costs. “The goal is to get rid of the fat, and build up the … [Read more...] about After Eking Out Small Revenue Growth, Billionaire Pony Ma Says Tencent Will Keep Cost-Cutting Measures

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Fraud Section Report Helps Companies’ Counsel Navigating DOJ’s Seas

March 22, 2023 by www.forbes.com

Share to Twitter Share to Linkedin DOJ’s 2022 Year In Review Report released last month not only recounts its Fraud Section’s activity and “accomplishments” for the preceding year, but also allows practitioners and in-house counsel responsible for helping companies and their executives navigate the shoals of corporate compliance anticipate the government’s likely future focus. This year’s Report first suggests that in the upcoming years DOJ will continue to focus on individual accountability for corporate malfeasance particularly in the area of financial fraud and market manipulation. In fact, the Report was released at the same time that DOJ leadership was commending the Department’s convictions of individuals such as Elizabeth Holmes and Sunny Bulwani . Second, the Report also foreshadows an increase in independent compliance monitorships in corporate resolutions, a practice previously avoided under a Trump-era policy . Again, public comments, including … [Read more...] about Fraud Section Report Helps Companies’ Counsel Navigating DOJ’s Seas

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PSEi cheers better August jobs data

September 9, 2022 by business.inquirer.net

The hiring pace in August encouraged some bargain-hunting at the bourse, but it was not enough for the main-share Philippine Stock Exchange index (PSEi) to go above the 6,600 territory on Thursday. The benchmark PSEi rose by 0.61 percent, or 39.66 points, to finish at 6,593.74 while the wider All-Shares index climbed by 0.43 percent, or 15.13 points, to end at 3,505.20. Philstocks Financial Inc. researcher Mikhail Plopenio said investors bought up shares amid better labor force numbers. The Philippine Statistics Authority said the number of unemployed Filipinos went down to 2.6 million in July from 2.76 million in April. “However, ongoing headwinds, which include the peso’s depreciation and recession risks offshore, kept many investors on the sidelines which resulted in weak trading for the day,” Plopenio said. The peso fell to another fresh low on Thursday as it hit P57.18 against the dollar. China Bank Securities research director Rastine Mackie Mercado added … [Read more...] about PSEi cheers better August jobs data

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Evergrande debt revamp plan fails to cheer investors, property stocks fall

March 23, 2023 by business.inquirer.net

The Evergrande Center of China Evergrande Group is seen in Shanghai, China Sept 24, 2021. REUTERS/Aly Song HONG KONG  -China Evergrande Group’s debt restructuring proposal, a test of investor sentiment toward the battered property sector, failed to impress because of its long repayment period and lack of enough sweeteners, creditors and analysts said. Evergrande is the world’s most indebted developer with about $300 billion in liabilities. Its debt restructuring, the country’s biggest such exercise, is aimed at saving it from a disorderly collapse. The developer has $22.7 billion of offshore debt, all of which is deemed to be in default. The plan provided two main options to its dollar bondholders to recoup their investments. Creditors can either swap all of their holdings into new notes with maturities of 10 to 12 years, or convert them into different combinations of new notes with tenors of five to nine years and equity-linked instruments. Bondholders of notes issued by … [Read more...] about Evergrande debt revamp plan fails to cheer investors, property stocks fall

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APR to use beauty devices to take business to the next level

March 16, 2023 by koreajoongangdaily.joins.com

APR is largely buoyed by a wide range of brands. [APR] APR, a global beauty tech company, announced its plan to strengthen its business capabilities related to beauty devices while attracting pre-public offering worth 8 billion won ($6.1 million) in recognition of its enterprise value of 700 billion won. On March 13, APR posted its attraction to the Korea Financial Supervisory Services’ Data Analysis, Retrieval and Transfer System (DART). With its pre-IPO investment, NongHyup-Soo Investment Capital Innovation Growth M&A Investment Association, companies that have continued investment in innovative corporations including SJ Partners and Industrial Bank of Korea (IBK), have participated. APR holds a number of brands including medicube, AGE-R, Forment, Aprilskin, Nerdy and Glam.D Bio. Among the brands, AGE-R is receiving spotlight for rapid growth since being introduced in 2021. Its beauty devices including AGE-R Derma EMS, AGE-R Ussera, AGE-R Air, and AGE-R Booster-H posted … [Read more...] about APR to use beauty devices to take business to the next level

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Strategies For Growth In 2023

March 23, 2023 by www.forbes.com

Share to Twitter Share to Linkedin By Duane Tursi, CEO, Ascension Group International . How can business leaders determine whether a particular growth strategy is applicable to a business’s specific situation? First and foremost, timing is everything. It might feel like it’s always the right moment to take your company to the next level, but knowing when to expand is just as critical as knowing where to start. During times of financial uncertainty, many companies focus on their core competencies and forget that there are still opportunities for development. The quality of businesses today is strong, and organizations of all sizes have healthy balance sheets despite a looming recession. To continue this upward trend, let’s take a look at some key strategies for growth in 2023. Never Waste A Recession You might look at that header and scratch your head, but here’s the thing: Recessions are not all negative. Companies make layoffs, and … [Read more...] about Strategies For Growth In 2023

Filed Under: Uncategorized Small Business

The Power Of A Positive Money Mindset In Business Ownership

March 23, 2023 by www.forbes.com

Share to Twitter Share to Linkedin Money is the lifeblood of any business, providing the resources needed to invest in technology, marketing, and other operations. But it's not just about having money; it's also about having a positive money mindset. As a business owner, you need an attitude to help you create wealth and success for yourself and your business. It can be incredibly frustrating when you feel like your mind is holding you back from achieving business success. Unfortunately, a negative money mindset is real, and it can stand in the way of you building the thriving business of your dreams. Experiencing this kind of internal roadblock often manifests as low confidence and insecurity, making it difficult to move forward into the more lucrative aspects of running your own company. By addressing underlying beliefs and attitudes that no longer serve you, you can finally break through these mental barriers and enjoy the freedom and growth of being a … [Read more...] about The Power Of A Positive Money Mindset In Business Ownership

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