GS Holdings to Accelerate Business Expansion in Asia with New F&B Brands and Franchises

GS Holdings Limited (“GS Holdings” or the “Company” and together with its subsidiaries, the “Group”), is pleased to announce that its indirect wholly-owned subsidiary, Hao Kou Wei Pte. Ltd. (“HKW”), has set up a new subsidiary, Sing Zhong Brands Management Pte. Ltd. (“Sing Zhong Brands Management”), to manage and operate restaurants and food outlets in coffee shop and food court and also to develop, franchise and manage food and beverage (“F&B”) brands with a primary focus to facilitate its plans to promote and sell food originating from the People’s Republic of China and Singapore.

In addition, Sing Zhong Brand Management has entered into a Letter of Intent with Action Culture Pte. Ltd. (“Action Culture”) with the aim of establishing 10 Chinese F&B brands and 10 Singapore F&B brands, which will be sold as franchise in Asian countries.

With Action Culture’s strong experience and knowledge of the culture and food consumption patterns in both China and Singapore, Action Culture will be responsible for identifying and designing the 10 Chinese F&B brands and concepts as well as sourcing for interested franchisees or investors.

All 20 F&B brands developed will be owned and registered as the intellectual properties of Sing Zhong Brands Management.

Furthermore, by leveraging on Action Culture’s understanding of both countries’ market cultures and its expertise and experience in social media, marketing and content creation, there is good potential for the F&B brands to gain popularity and recognition.

In addition, the Group believes that in executing its plans pursuant to the Letter of Intent, it would be able to contribute towards assisting individuals in realising their aspirations to become entrepreneurs by way of franchise while creating job opportunities in the community.

Under the Letter of Intent, the fees payable to Action Culture will be via the issuance of new shares in the Company based on certain performance targets agreed upon. A definitive agreement will be entered into by the parties after all the other terms for the transaction with Action Culture have been finalised.

Mr. Pang Pok, Chief Executive Officer and Executive Director of the Company, said, “We aim to broadly expand our business presence across high-growth end markets within Asia with new F&B brands, concepts and franchises.

By leveraging on Action Culture’s strengths, there are strong opportunities to drive new growth, while diversifying our revenue base and generating new cashflows.

With aligned interests via a performance-based structure for this business collaboration, we look forward to accelerate our business plans to create new and highly compelling value propositions in Asia’s F&B industry.”

The incorporation of the new subsidiary and the Letter of Intent are not expected to have any material financial impact on the consolidated earnings per share and consolidated net tangible assets per share of the Company and its subsidiaries for the current financial year ending 31 December 2021.

About GS Holdings Limited
(Bloomberg Code: GSHL:SP / Reuters Code: GSHO.SI / SGX Code: 43A)

With an aim to diversify its business model and create additional streams of income, GS Holdings Limited (“GS Holdings”) has expanded into various business ventures in the food and beverage (“F&B”) industry.

To harness its growth opportunities, GS Holding is looking to further expand its brand presence across Asia and beyond via new franchising, licensing and distribution models.

This press release has been prepared by GS Holdings Limited (the “Company”) and its contents
have been reviewed by the Company’s sponsor, UOB Kay Hian Private Limited (the “Sponsor”) for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited
(“SGX-ST”) Listing Manual Section B: Rules of Catalist.

This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01- 01, Singapore 229957, telephone (65) 6590 6881.

Note: This press release is to be read in conjunction with the SGX announcement released on the same date.

Media & Investor Contacts:
Issued on behalf of GS Holdings Limited by 8PR Asia Pte Ltd.
Mr. Alex TAN
Mobile: +65 9451 5252

Topic: Press release summary

ABB and Zume to accelerate transition away from single use plastics

ABB Robotics has signed an agreement to collaborate with California-based Zume, a global provider of innovative, compostable packaging. ABB will supply robotic cells that will enable Zume’s production of sustainable packaging on a global scale, helping to reduce reliance on single-use plastics.

ABB will integrate and install more than 1,000 molded fiber manufacturing cells (MFC) – including up to 2,000 robots at Zume customer’s sites worldwide over the next five years. ABB will leverage its program management capabilities and automation experts in its network of Global Solution Centers to enable the scale, modularity and speed required to launch the solutions, which have the potential to produce millions of pieces of sustainable packaging annually. Financial details were not disclosed.

Manufacturers face increasing pressure from consumers and policymakers to find alternatives to single use plastic packaging. New packaging needs to be sustainable, while being easy to mold and as cost effective as plastic. Zume’s packaging material is made from sustainably harvested plant material left over from agricultural production, including bamboo, wheat and straw. Plant material uses significantly less water and energy and reduces CO₂ emissions when compared to the production and disposal of plastic packaging. Unlike plastic, plant-based material is 100 percent biodegradable and simply breaks down after use.

“Automating production of Zume’s sustainable packaging with ABB robots makes this a viable and economic alternative to single-use plastics. With Zume, we have the potential to remove trillions of pieces of plastic from the global marketplace, preserving scarce resources and supporting a low carbon world,” said Sami Atiya, President of ABB Robotics & Discrete Automation. “Today, robotic automation is expanding possibilities, making the world more sustainable through more efficient production that reduces energy use, emissions and production waste. Our collaboration showcases what is possible when organizations that are committed to pursuing a low-carbon society work together.”

Zume has developed and patented an innovative manufacturing process to make compostable packaging for anything from food and groceries to cosmetics and consumer goods. Containers are molded from the plant material by Zume’s molded fiber cells integrated with two ABB IRB 6700 robots, with each cell processing up to two tons of agriculture material every day, creating 80,000 pieces of sustainable packaging. Working with ABB, Zume expects to equip factories with up to 100 robotic cells each. With the automation, speed and scalability provided by the MFC, each site would have the potential to process 71,000 tons of agriculture material annually, potentially producing up to two billion pieces of packaging each year.

“By 2050, we estimate that the world’s oceans will have more plastic than fish, so it is critical that we move everyone away from single-use plastics,” said Alex Garden, Chairman and CEO of Zume. “Using ABB’s global automation experts to develop and integrate automation solutions for our customers will revolutionize packaging and demonstrate what sustainable manufacturing can look like. The flexibility and scalability of ABB’s robots enables an efficient automated manufacturing process. This means we can offer a viable, cost effective, compostable alternative to plastic, and help manufacturers to become more environmentally-friendly.”

A pilot project has been installed by Zume and ABB at Satia Industries Limited, one of India’s largest wood and agro-based paper manufacturers, creating a facility of 10 manufacturing cells that will process 20 tons of wheat straw daily creating 100 percent compostable packaging for a range of industries.

“Our work with Zume and ABB enables Satia Industries to meet and exceed the expectations of our clients for high-performing, affordable and reliable products that are sustainably manufactured and easily composted,” said Dr. Ajay Satia, CMD Satia Industries. “Besides adding significant value to the company, we are able to support the planet by providing sustainable solutions to help our customers transition to more modern, reliable, and customized products compared to those they use today.”

Other planned pilot installations include Parason Group, a leading global pulp and paper machinery supplier, also based in India and Jefferson Enterprise Energy, the first 100 percent renewable energy powered compostable packaging factory, based in Texas, USA.

United Nations Environment Program (UNEP)

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries.

About Zume: Founded in 2015 and HQ in Camarillo, California, Zume is actively reducing the world’s plastic waste with economically viable substitutes for plastic packaging. As creators of the world’s most advanced molded-fiber manufacturing system, Zume is a global provider of sustainability solutions and offers a growing range of sustainable manufactured solutions and services across the food, beverage, healthcare, and CPG categories. For more information visit


Accelerate The Gig Economy Revolution With Degecoin Blockchain

  • $DEGE presale begins on July 15th as the Degecoin DEX Platform goes live by yea- end

United States, 28 June 2021, ZEXPRWIRE, The gig economy has been centralized for far too long, and crypto tokens have little real value to freelancers. It’s high time we changed that, and that’s exactly why Degecoin is here. It’s more than your average crypto token. Degecoin Blockchain is meant to revolutionize the gig economy – a disruptive crypto ecosystem to support freelancers by decentralizing the gig marketplace. It seeks to make crypto transactions more accessible, secure, and economical for freelancers. You can get your first token on the Presale beginning July 15th, 2021.

The idea is to disrupt the gig economy by providing a marketplace where buyers and sellers can directly engage in a decentralized network. It is to be powered by crypto capital, i.e., users can create and trade their crypto capital. For each transaction, crypto rewards can be earned. Tokens can be swapped for Degecoin, cash, or any external exchange. It will increase accessibility by dialing down the platform and cutting the transaction costs from the usual 20-25% to 2-3%.  In short, the Degecoin ecosystem will make crypto tradable for real value.

The Decentralized Exchange system, called Degecoin DEX, is set to go live by the last quarter of 2021. Once online, this system will utilize Degecoin and other crypto trade to funnel money into the gig ecosystem envisioned to provide full-time benefits to gig workers. What the gig market fails to do presently is translate full-time benefits that most gig employers have into full-time yields for gig workers. Donating 5% of the total platform fee to the Degecoin Blockchain for Gig Economy, DEX will serve the purpose.

With a workable product on the table and having a 50% higher mining rate than a life coin, Dagecoin Blockchain is set to revolutionize the gig economy. It’s a decentralized ecosystem that will empower freelancers and ultimately shape the future of tokenomics. Seize the opportunity and get your first $DEGE token on the Presale, which kicks of on July 15th, 2021. You might as well enter the $500 giveaway!

The gig economy disrupted the conventional marketplace. It’s time to disrupt its centralized system for the rideshare economy and other freelance services to empower the gig workers. Degecoin Blockchain is here to make that happen. Mine a secure gig future with Degecoin today! Make cryptocurrency tradable for real value!

Japan – NTT Group and NEC accelerate activities to promote 5G tailored for enterprises

NTT Corporation (NTT), its subsidiary NTT DATA Corporation (NTT DATA) and NEC Corporation (NEC) announced today the acceleration of activities to promote the global adoption of 5G solutions tailored for enterprises. The three companies aim to develop these solutions to accommodate market demand that helps to drive the creation of successful business models and business. These activities will be conducted in “Enso – The Space for Creators” (Enso Lab), which has been established at NTT DATA Deutschland’s Munich laboratories.

1. Background

Current wireless network base stations are mainly equipped with integrated hardware and software based on the specifications of certain communication equipment vendors. However, in order to lower the dependence on specific vendors, O-RAN activities which aim to create an open ecosystem for base station equipment are accelerating among mobile telecommunications operators around the world.

In June 2020, NTT and NEC entered a capital and business alliance for joint R&D and global expansion of ICT (Information and Communication Technology) products utilizing innovative optical and wireless technologies. The companies have now launched an initiative to develop globally competitive products in compliance with O-RAN Alliance specifications with global operators and telecommunication equipment vendors toward promotion of the wider use of O-RAN and other open architectures.

In addition, since O-RAN specifications indicate that open architectures of software for communication equipment are required, NEC’s communication system integration technologies as a telecom equipment supplier, and NTT DATA’s IT system integration technology as a software developer are increasingly necessary.

2. Details of cooperation

As part of the global O-RAN activities, the three companies will start co-creation activities utilizing their 5G capabilities for enterprises. The Enso Lab has created a 5G environment featuring a multi-vendor system configuration by building a co-creation space for enterprises using 5G technologies form NTT DATA, and installing additional NEC radio units that conform to O-RAN specifications.

By utilizing the Enso Lab, customers will be able to build demonstration environment using 5G base stations that meet O-RAN specifications, and develop application prototypes according to customer-specific requirements. This will help customers develop new business utilizing 5G.

As a first step of the three companies’ co-creation activity, they aim to develop and commercialize solutions that include 5G infrastructure and applications for automotive-related industries in Europe. Furthermore, the companies plan to create new solutions for other industries, such as the automotive and manufacturing fields for global markets, including the US, by leveraging their private 5G expertise, knowledge and use cases cultivated in Japan.

3. Role of each company

NTT – Overall coordination and support of collaboration
NTT DATA – Integration of 5G systems for enterprises
NEC – Providing technologies, products, and solutions required for 5G systems for enterprises

4. Representative Quotes

Akira Shimada, Representative Member of the Board and Senior Executive Vice President of NTT: “As one of the initiatives based on NTT’s capital and business alliance with NEC, three companies, including NTT DATA, have begun co-creation activities for enterprise 5G solutions in the global marketplace utilizing radio base station equipment manufactured by NEC in compliance with O-RAN specifications.

“By combining NEC’s sophisticated network technologies and the integration capabilities of the NTT Group, we believe that we can accelerate the creation of advanced corporate solutions that match customer needs.”

“NTT Group is working together with global partners to promote the spread of open architecture in order to create innovative technologies, products, and solutions in the telecommunications field, and will contribute to resolving social issues through the development of services utilizing 5G.”

Toshi Fujiwara, Representative Director and Senior Executive Vice President of NTT DATA: “With 5G networking becoming widespread worldwide, digitization will accelerate even further. In order to respond quickly and flexibly to customer needs in 5G networks, the NTT Group will promote the dissemination of open networks that conform to O-RAN specifications. At the same time, the NTT Group will strive to propose and develop advanced solutions tailored to the needs of global companies by utilizing NEC’s proven 5G related technologies.”

Takayuki Morita, President, CEO and Representative Director of NEC: “NEC is engaged in a range of activities through a capital and business alliance with NTT, aiming to expand and grow 5G businesses globally.

“As part of our collaboration with the NTT Group, we have great hopes that by combining NTT DATA’s solution delivery assets with NEC’s technology assets, we can promote co-creation of 5G for enterprises, starting with the European automotive industry.”

“Going forward, we will continue working together to provide value to customers in Europe and elsewhere utilizing innovative 5G solutions.”

About NTT

NTT believes in resolving social issues through our business operations by applying technology for good. We help clients accelerate growth and innovate for current and new business models. Our services include digital business consulting, technology and managed services for cybersecurity, applications, workplace, cloud, data center and networks, all supported by our deep industry expertise and innovation. As a top 5 global technology and business solutions provider, our diverse teams operate in 80+ countries and regions and deliver services to over 190 of them. We serve over 80% of Fortune Global 100 companies and thousands of other clients and communities around the world. For more information on NTT, visit


NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, digital & IT modernization and managed services. NTT DATA enables them, as well as society, to move confidently into the digital future. We are committed to our clients’ long-term success and combine global reach with local client attention to serve them in over 50 countries around the globe. Visit us at

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at

Accelerate Windows Applications, Including Microsoft SQL Server, by 2X with StarWind and Pavilion NVMe-oF/RoCE Solutions

StarWind, a leading provider of hyperconverged and cutting edge storage virtualization solutions, announced today its partnership with Pavilion Data Systems, the universally unmatched leader in data storage.

Customers with Microsoft Windows applications, such as MS SQL Server, are taking advantage of the StarWind NVMe-oF/RDMA Initiator and the Pavilion HyperParallel Data Platform™, the most performant, dense, scalable, and flexible data storage platform in the universe, to accelerate performance, recover lost CPU cycles, reduce their storage footprint, and cut management costs in half by moving to an NVMe-oF and RDMA storage solution.

By using the Pavilion HyperParallel Data Platform with the StarWind NVMe-oF Initiator, a leading investment firm was able to reduce their storage management costs by 50%, while recovering 30% of their CPU utilization by switching from a CPU-heavy legacy storage solution. Another customer, a global information and insights company, doubled the amount of SQL transactions per second, while reducing storage management costs by 60% and their storage footprint by 50%.

“The Pavilion HyperParallel Data Platform already delivers to customers up to 120GB/s of read performance and over 2PB of capacity, per system. By working with StarWind, that performance is now available to Windows environments with the ultra-low latency. This is particularly important to organizations that use MS SQL applications, have video editing workstations, and other high-performance Windows applications.”
– VR Satish, Co-Founder and CTO, Pavilion Data Systems

“StarWind NVMe-oF Initiator for Windows is the first software-only solution that satisfies the tremendous demand for ultra-low latency NVMe storage access driven by companies at the cutting edge of technology, finance, live sciences, and M&E verticals. Speed, latency, and efficient CPU utilization required by their applications are far beyond what legacy FC and iSCSI storage protocols can offer. I’m extremely excited to see the disruptive offerings our customers are able to deliver with the help of StarWind and Pavilion solutions.”
– Max Kolomyeytsev, CTO, StarWind

About Pavilion

Pavilion is the Data Platform Enabling Enterprises to Derive Greater Value from their Data – Faster, Simpler, and at Scale.

Pavilion is the perfect complement for AI / ML, HPC, Analytics, Enterprise Edge and other data driven workloads and the ideal Data IO Platform for GPU-based computing platforms. The Pavilion HyperParallel Data Platform, powered by Pavilion HyperOS, delivers unmatched performance and density, ultra-low latency, unlimited scalability, and flexibility, providing customers unprecedented choice and control. Learn why Fortune 500 companies and federal government agencies choose Pavilion.

To find out more, visit Pavillion Home Page or Pavillion LinkedIn.

About StarWind

StarWind is a pioneer in storage virtualization and the only all-flash hyperconvergence vendor on the market.

StarWind NVMe-oF Initiator is the only software solution that unlocks NVMe/TCP and NVMe/RoCE storage to any Windows application for maximum performance and microsecond latency. StarWind partners in the NVMe-oF storage space can minimize time-to-market to deliver their customers Windows-certified storage solutions right now, without having to wait on the OS vendor to add out-of-the-box NVMe-oF support.

For more details, visit StarWind NVMe-oF Initiator for Windows.