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Showing posts with label credible information and knowledge sharing. Show all posts
Showing posts with label credible information and knowledge sharing. Show all posts

Saturday, April 1, 2023

Chinese people are the happiest in the world, Ipsos survey shows

 


A photo taken on November 6, 2022 shows a wall displaying photos of smiling people at an exhibition themed "Forging Ahead in the New Era," which showcases China's achievements and development over the last decade, at the Beijing Exhibition Center. Photo: VCG


Chinese Path to happiness

"Are you happy?" This simple question is not only a daily greeting in Putonghua but also a yardstick on which global authorities attach importance when formulating policies to better serve their people. Recent international surveys showed that the happiness of people in the Chinese mainland has largely increased in recent years, with one of the survey reports suggesting that Chinese people are among the happiest in the world.

The Global Happiness 2023 Report, released by multinational market research and consulting firm Ipsos ahead of the International Day of Happiness on March 20, showed that Chinese people are the happiest among the 32 countries and regions sampled, with 91 percent of Chinese respondents saying they are generally happy, 12 percent increase from a decade ago.

The 2023 World Happiness Report, an annual publication by the United Nations Sustainable Development Solutions Network in which Nordic countries typically rank higher than China, ranked the Chinese mainland 64th out of 137 countries and regions this year, 30 places higher compared with 2020.

The surveys, with different questionnaires and ranking methods, all imply that people in the Chinese mainland are generally happier, and even rank as the happiest in certain aspects, observers found.

Why are Chinese people happier than before? The Global Times reached Ipsos, as well as China-based and international sociologists and culture scholars, along with ordinary citizens, to find out the possible reasons behind the overall increase in happiness among Chinese people.

Graphic: GT Graphic: GT

Family, friends matter most

"Thanks to family and friends, Chinese people are the happiest people in the world," declared a South China Morning Post article on March 21 according to conclusions made by the Ipsos survey report, saying that "relationships are a main source of happiness in China."

The importance of family and social ties to the happiness of Chinese people is clearly indicated in the Ipsos survey, which showed that Chinese respondents are more satisfied with "children," "relationship with a partner or spouse" and "friends" compared to other aspects. While some Western respondents are more satisfied with elements related to their personal circumstances and feelings, such as "access to or being in touch with nature" and "level of education."

Traditional Chinese societal values are manifested in the results, as Chinese people have a strong drive toward family harmony, as the old Chinese saying goes, "harmony at home brings prosperity," said Zhang Yiwu, a literature professor at Peking University.

Chinese people are more inclined to feel happiness in kinship and social relationships, Zhang said. "Even if one is not wealthy, he or she can gain a lot of happiness from having a happy and warm family, as well as many friends as a source of support," he told the Global Times.

Psychologist Zhang Jiehai agreed. "Chinese society is a society of interpersonal relationships, and good interpersonal relationships have a great impact on the happiness of Chinese people," said Zhang Jiehai.

Ipsos surveyed 32 countries and regions that represent over 80 percent of the world's GDP, said Nicolas Boyon, Senior Vice President of Ipsos Public Affairs in the US, in an email response to the Global Times.

Boyon said that the list of life aspects mentioned in the survey questionnaire was carefully designed, so each of them is relevant to all people in every country and region, and can be understood similarly. "Our main goal is consistency both across cultures and over time," he wrote.

Satisfied with China's economic, social, political situation

The economic, social, and political situations in a country or region also largely affect the happiness of the people there.

Compared to most non-Chinese respondents who expressed low satisfaction with their "country's economic situation" and "country's social and political situation," which led to overall average satisfaction rates in both aspects at a mere 40 percent, Chinese respondents expressed greater satisfaction in China's economic, social, and political situations.

Some 78 percent and 83 percent of Chinese respondents said they are satisfied with the "country's economic situation" and "country's social and political situation" respectively, ranking third and first among all countries and regions, the survey showed.

Zhang Jiehai said that Chinese society is stable, and its senses of fairness and justice keep increasing.

He mentioned the enhancement of the quality of life for Chinese citizens as a result of the increased happiness in the stable Chinese society.

"Foreign studies have shown the close relationship between 'not pocketing the money one has picked up' and citizens' happiness," he said. "In an experiment carried out on streets of different countries, Denmark had the highest percentage of people who return money found, and they are usually ranked as one of the happiest citizenries in the UN's happiness indices."

Similarly, China has probably the lowest percentage of express deliveries being stolen, which is also highly related to the strong sense of happiness of the people there, Zhang Jiehai exampled. "Unsupervised express packages and food deliveries placed at entryways and hospital inpatient departments are a common sight in China," he added. "Incidents of deliveries being stolen are rare as the quality of life of Chinese citizens has improved."

Recalling his days at Peking University in 2022 as a Korean scholar, Kwon Ki-sik, head of the Korea-China City Friendship Association, believes that four main factors contribute to the high level of happiness of Chinese people.

First, Chinese people highly trust the country's political system. Kwon said that Chinese people's unwavering support for the Communist Party of China (CPC) and its leaders are a source of stability in China, in sharp contrast to certain Western countries where political instability has led to general discontent.

The second is safety. Big Chinese cities including Beijing and Shanghai are among the few in the world in which one can walk freely at night thanks to good public security, whereas some security problems seen in several big US cities keep many people from venturing outside after dark, said Kwon.

Third, Chinese people are incredibly proud of the country's development and prosperity, as China has achieved remarkable economic growth over the decades of reform and opening-up. Kwon believes this sense of pride is greatly linked to the happiness of Chinese people.

Fourth, Chinese people are satisfied with the government's efforts in building a moderately prosperous society and in achieving common prosperity. "The mutual trust between the CPC and its people is the root of happiness for Chinese people," Kwon noted.

The three recent Ipsos happiness surveys conducted in August 2020, December 2021, and January 2023, revealed that 93 percent, 83 percent, and 91 percent of Chinese respondents were happy, respectively, ranking first, third, and first among all polled countries and regions.

The pandemic was a source of worry for the world. Nonetheless, compared to some Western countries' approach of "lying flat," which caused a lot of deaths, "China's COVID prevention measures protected the lives of the overwhelming majority of people," Zhang Yiwu told the Global Times. "On the whole, we got through the pandemic smoothly."

Common expectations

In the 2023 World Happiness Report released by the UN Sustainable Development Solutions Network, Finland was ranked as the happiest country in the world. The Chinese mainland was ranked at the 64th, higher than 2022 when it was ranked 72nd, and in 2021 at 84th.

Referring to the different ranking results between the report and the Ipsos survey, Boyon said that the two differ in several ways and are also complimentary. The UN Happiness Index, as reported in the World Happiness Report 2023, is based on data from a survey in which respondents were asked to rate how they feel about their life ranging in responses from "the best possible life" to "the worst possible life." It is described as a "subjective well-being score," Boyon said.

"Ipsos' survey asks a different question: 'All things considered, would you say that you are very happy, rather happy, not very happy, or not happy at all?' The self-reported level of 'happiness' from our survey can be seen as a reflection of people's mood," he added.

Also, Boyon said that Ipsos' survey is collected during the same two-week period in every country, which makes its data more current, and more sensitive to seasonality and current events.

Moreover, as the Ipsos survey is conducted online, its samples can be considered representative of their general adult population under the age of 75, Boyon explained. "But in most 'middle-income countries' or 'emerging markets,' including China, online samples tend to be more urban, more educated, more affluent than the general population," he told the Global Times.

The World Happiness Report team said on its website that it uses observed data on six variables including GDP per capita, social support, healthy life expectancy, freedom, generosity, and corruption.

These variables are more susceptible to income inequality, said Zhang Jiehai. "Countries and regions with more developed economies, smaller income gaps, and a relatively high sense of fairness usually score higher," he explained. "That's why Nordic countries have been at the top of the UN's happiness rankings for long."

Happiness surveys with distinct indicators have different results, but generally, people from all over the world share some common expectations, like narrowing the income gap, improving fairness and justice, and elimination of corruption, Zhang jiehai noted.

To further enhance Chinese people's sense of happiness, experts suggest authorities work harder in improving social welfare systems, especially in those in the fields of healthcare and rural elderly care services.

"China has made rapid progress in social welfare improvement. Nonetheless, as a developing country with a large population, it's difficult to compare China's per capita social welfare standard with that of Nordic countries," said Zhang Yiwu. "It varies from country to country in terms of their strengths and challenges."

UK's falling ranking

"China is the happiest place on earth as the UK falls in rankings," said an article published on the Northamptonshire Telegraph website on March 24. The Ipsos survey found that 70 percent of British people considered themselves happy, a 13 percent drop from 2022.

Fleur, a retired teacher living in London, told the Global Times reporter that she does feel less happy than about a decade ago mainly because of the economic pressure she experiences. Fleur said her pension is falling in value under high inflation in the UK, and she and people around her feel uneasy about several persisting problems in British society, including the widening wealth gap, the rising crime rate, and the falling employment rates.

In the US, just 12 percent of respondents described themselves as "very happy," "the lowest share on record since NORC began asking the question…in 1972," according to a US domestic survey released by The Wall Street Journal and the social research organization NORC at the University of Chicago on March 24. Some 30 percent said they are "not too happy."

Financial circumstances are main happiness contributors for some Westerners, analyzed Zhang Jiehai. In a few European countries, for instance, people are faced with slow income growth and fast-rising living costs. "Their living standards are seeing a downward trend when compared with their predecessors. A blue-collar couple can hardly maintain their standard of living after retiring if their children are also blue collars," Zhang Jiehai said. 

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Sunday, March 26, 2023

Five ways to naturally increase your 'happiness' hormone; Learn how to breathe properly for exercise and to relax

 

Boosting your 'happiness hormone' raises your mood, productivity and success levels.getty

Here’s a double combo to increase your dopamine levels: Cuddle your furry friend, while listening to your favourite tracks. — AFP

Fatigue, reduced concentration, memory loss and lack of motivation are some of the consequences of a dopamine deficiency.

However, this neurotransmitter – also known as the happiness hormone – can be stimulated naturally through certain actions and activities accessible to all.

Central to the brain’s reward system, this compound is naturally secreted to provide a certain feeling of satisfaction in response to specific actions, such as physical activity.

According to the French Federation for Brain Research (FRC), it is, more precisely, a “neurotransmitter, which in the central nervous system, activates postsynaptic dopaminergic receptors.

“[It] plays an essential final modulating role in motor and psychic output, ... serves to reinforce behaviours such as eating, and plays a role in motivation by functioning as a kind of reward system.”

A deficiency or excess of dopamine can have harmful consequences, ranging from memory loss to addictions, requiring a certain balance to be maintained.

Parkinson’s disease, linked to a degeneration of the neurons that produce dopamine, requires clinical therapies to stimulate the production of this substance.

But milder symptoms suggestive of dopamine deficiency, such as reduced concentration, fatigue or memory lapses, can potentially be relieved by everyday actions and activities that help stimulate its production.

Here are five ways to help keep this neuronal messenger at optimal levels: 

> Play with your pet

Many studies have shown that pets, especially dogs and cats, are a source of happiness, and even a way to limit stress.

Not only do they help reduce the levels of cortisol – the stress hormone – according to American research, but our four-legged friends could also stimulate the production of dopamine.

Several scientific studies agree that petting a furry friend releases two essential substances: oxytocin, the love and social bonding hormone, and dopamine, our famous happiness hormone.

> Get some exercise

It is often said that exercise or playing sports releases endorphins.

This is true, but it is not the only pleasure or well-being hormone that is secreted by physical activity.

Whatever the chosen form, exercise naturally stimulates the production of dopamine during and after exertion, providing that feeling of well-being, accomplishment and satisfaction, or exercise “high”, that gym junkies often talk about.

It is therefore not surprising that certain scientific studies point to a link between physical activity, memory and concentration, or that it can be a source of motivation – and in excess, of exercise addiction.

> Listen to music

Music may soothe the savage beast, but that’s not all it can do.

It could also play an active role in stimulating the production of dopamine.

Music and pleasure appear to be intimately linked, provided of course that you choose tracks that you particularly like.

Activating the brain’s famous reward system, listening to music could even arouse feelings of euphoria and desire that are more often associated with eating, sex or taking certain drugs, as revealed by researchers from Canada’s McGill University.

It is therefore not surprising that music is now used in healthcare settings, with music therapy used to complement nursing care during painful procedures, for example.

> Make love

From relieving migraines to fighting certain cardiovascular (heart) diseases and even looking younger, sex seems to be particularly beneficial for health, according to numerous scientific studies.

But beyond that, sex could also be a stimulant for dopamine production – and for good reason, since it is obviously also directly associated with pleasure.

Making love is enough to secrete the famous molecule, but the orgasm alone provides a veritable cocktail of hormones, releasing serotonin, dopamine, endorphins and oxytocin, which are all associated in one way or another with happiness and pleasure.

> Eat a healthy, balanced diet

A poor diet can be the cause of a dopamine deficiency.

Meanwhile, certain foods can help to naturally boost its production.

For this, it’s advisable to turn to certain foods rich in tyrosine, such as meat, fish, seaweed, leeks, spinach, legumes, avocados, bananas and chocolate.

All these ingredients help fight against stress, improve mood or limit fatigue. – AFP Relaxnews 

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We breathe automatically, but if you practise breathing purposefully, you’ll notice what a difference it can make, whether during exercise or for relaxation. — dpa

Inhale. Exhale. We normally don’t think about breathing – it’s automatic.

And when our body needs more oxygen than usual, e.g. during sporting activity, our breathing rate increases automatically too.

“It’s a vital process that takes place subconsciously,” says Barbara Nützel, an instructor at a school for health management in Saarbrücken, Germany.

In this way the body prevents itself from going into oxygen debt, which is a temporary oxygen shortage in body tissues resulting from intense exercise.

Our cells need oxygen to break down glucose and produce energy.

“Breathing is regulated by the autonomic nervous system and brainstem,” says Sylvain Laborde, a researcher in the performance psychology section of the Cologne-based German Sport University.

The brainstem respiratory network can adapt our breathing to external circumstances.

When we’re relaxed or asleep, we automatically tend to breathe deeply and evenly.

“Our body finetunes its oxygen supply,” she says.

“We have sensors – so-called chemoreceptors – that recognise whether we have sufficient oxygen, and not too much carbon dioxide, in our blood and adjust intake accordingly.”

But not all breathing is the same.

We can take air into our chest, or seemingly deep into our belly.

The latter is called diaphragmatic breathing, also known as abdominal breathing, belly breathing or deep breathing.

The diaphragm is a large, dome-shaped muscle at the base of the lungs.

When you breathe diaphragmatically, inhaling makes the diaphragm contract and move downward, which creates more space in your chest cavity and allows your lungs to expand.

When you exhale, the diaphragm relaxes, moving upward in the chest cavity and forcing air out of your lungs.

We’re born knowing how to breathe diaphragmatically, says Nützel, but unlearn it as we grow older.

Stress is one reason our breathing becomes shallower.

“Chest breathing wastes energy,” Laborde says, “as it activates many muscles we don’t really need for breathing.”

Breathing the right way

Breathing this way during sporting activities reduces the amount of energy at our disposal.

Athletes would therefore do well to learn diaphragmatic breathing technique and practise it regularly.

It can bring their breathing rate down from 15-20 breaths per minute to six, according to Laborde.

It can also be worthwhile to attend a yoga class, where emphasis is placed on diaphragmatic breathing training, says Nützel, a yoga instructor herself.

Athletes can breathe either through the nose or mouth.

“No matter what the sport,” Laborde says, “it’s best to breathe through your nose because the air is then moister and warmer.”

This protects the respiratory passages from drying out and cooling down.

It also protects them from dirt, Nützel says, since “the nose acts as a natural filter for airborne particles”.

During intense athletic activity, however, it’s normal to breathe through the mouth to meet the body’s oxygen requirements.

“At high intensity, you need a lot of oxygen, so sometimes, you’ve got no choice,” says Laborde.

“If oxygen intake through the nose is too low, your performance suffers.”

Which breathing technique is best for a round of jogging or strength training at the gym then?

Nützel says: “Whatever sport you do, the point is to require as few breaths as possible.”

When we run, there’s no need to consciously adapt our breathing to our strides.

“It’s best to give your breathing free rein,” says Laborde, “because our body knows exactly how much air it needs.”

For strength sports such as weightlifting, on the other hand, a targeted breathing technique is useful.

“You should exhale as you work against gravity, and inhale again in the relaxed phase,” advises Nützel.

A well-known breathing technique during weightlifting is called the Valsalva manoeuvre.

“Athletes try to mobilise more strength by pressing air against their closed mouth and nasal passages,” notes Laborde, but adds that it makes little difference in their performance.

Practising yoga is a good way to increase your respiratory volume.

“You learn to breathe more deeply, and with a little training, you’ll need fewer breaths to reach the same volume,” says Nützel.

Breathing efficiently doesn’t only boost athletic performance by supplying the body with an optimal amount of oxygen.

“Conscious breathing strengthens the immune system as well,” remarks Nützel.

What’s more, she says, exhaling more slowly lowers blood pressure.

Your heart rate – and resting heart rate – decrease.

Breath training can also have positive psychological effects, such as stress reduction.

By breathing more mindfully and slowly on a daily basis, you not only enhance your performance capacity, but your quality of life too.

Laborde recommends integrating slow breathing into your evening routine as a relaxation technique.

“Over time, slow breathing is beneficial to health and advisable,” he says. – By Pauline Jürgens/dpa;

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Saturday, March 18, 2023

SVB meltdown exposes risks of fragile US bank system, highlights need to strictly maintain the bottom line of low risks

It is crucial to improve the financial regulatory system and strictly maintain the bottom line of low risks, China’s former finance minister said at a forum on Saturday in commenting on the recent collapse of the US Silicon Valley Bank (SVB) that sent shockwaves across the US banking system.

The SVB bankruptcy suggests that financial markets have been hit by monetary policy changes, Lou Jiwei, director general of the Global Asset Management Forum and China’s former finance minister, said at the ongoing annual session of the forum, according to media reports.

The unconventional monetary and fiscal policies adopted by some countries during the COVID-19 pandemic have led to high leverage ratios across governments, households, enterprises, and financial institutions. These ratios rose quickly but would not fall easily, Lou said.

It has exacerbated the hikes of the inflation and its impact has been extended to the global financial market, with soaring volatility in stocks, bonds, foreign exchange markets, Lou said, noting that from a historical perspective, it may lead to a new round of crisis spilling over into emerging markets.

As the US 16th largest lender, SVB faced meltdown on March 10 after a 48-hour run on deposits. It marked the largest bank crash since the 2008 financial crisis. When many were still pondering whether it was another Lehman Moment that started the global financial crisis over a decade ago, the US 29th biggest lender Signature Bank closed by regulator just two days after the SVB collapse.

The unexpected bank failure has soon sent shockwaves across the US banking system, with jitters spreading across the global market.

NASDAQ Bank index, which contains securities of NASDAQ-listed banks, dropped 22 percent from 3981.59 on March 8 to 3100.16 on March 17. The First Republic Bank saw its share price plummeted from $115 to $23.03 during the period, down nearly 80 percent.

In Europe, alarms sounded at Credit Suisse, a 167-year-old Swiss bank which is also the 17th largest lender across Europe. Its share price has lost 30 percent since March 8. Although the bank secured a $54 billion loan from Swiss central bank to shore up its liquidity, its investor sentiment remains fragile.

The bank failure and emergency showed that the long-simmering profound financial risks in Europe and the US have reached a critical point of periodic outbreak, Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies at Renmin University of China, told the Global Times on Saturday.

Banks are professional risk managers, and if they cannot manage risk effectively, then it means that the risk control system has failed, Dong said.

SVB is not the only risk point, a total of 186 US banks have reportedly been exposed to similar risks. “Even if only half of uninsured depositors decide to withdraw, almost 190 banks are at a potential risk of impairment to insured depositors, with potentially $300 billions of insured deposits at risk,” read an analysis conducted by New York-based Social Science Research Network.

Counting on its advantages as the world’s dominant financial power, US policymakers have believed that they could reap interests of others to plug their own loopholes. It is such “financial confidence” which has supported them to adopt a radical quantitative easing and then a drastic tapering policy, Dong said.

Yet, a considerable number of emerging countries are attaching more importance to financial risk management and firmly safeguarding their own autonomy, Dong said.

China has attached great importance to preventing and defusing systemic risks, and it is further improving its financial regulation including setting up a central commission for finance following the two sessions to optimize and adjust setting and functions of regulatory institutions, Lou said.

Lou said that China will continue to cooperate with other countries in financial regulation to jointly forestall and defuse systemic risks in the global financial system and maintain stability and prosperity of the global financial market.

The People’s Bank of China (PBC), the nation’s central bank, recently stressed the overall financial market is running smoothly and risks are under control. Large banks with excellent ratings are the “ballast stone” of China’s financial system. Reforms of a few problematic small and medium-sized financial institutions have achieved important progress, and illegal financial activities have been effectively curtailed, it said.

Amid a steep drop in the value of global banking shares following the SVB meltdown, however, Chinese banking shares rallied collectively. The Bank of China saw its share price surged from 3.33 yuan ($0.48) on March 8 to 3.48 yuan on March 17, reaching a five-year high.

The Chinese economy has contributed more than 30 percent of global growth annually for the past two decades, and this momentum will continue in the future, Yang Delong, chief economist at Shenzhen-based First Seafront Fund Management Co, told the Global Times on Saturday.

Under such circumstances, China’s strong enterprises, robust core assets will remain very attractive to foreign investment, Yang said, predicting that it is highly likely that the inflow to China’s A-share market from overseas investor will exceed 300 billion yuan this year. 

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Friday, March 17, 2023

Alarm over medical misinformation

 

Setting the record straight: Zamora showing one of her TikTok videos on her smartphone during an interview in Manila.— AFP

 Philippine social media users face barrage of bogus medical posts

Vlogger Rosanel Demasudlay holds a heart-shaped “virginity soap” bar in front of the camera and assures her hundreds of YouTube followers it can be safely used to “tighten” their vaginas.

The video is part of a barrage of bogus and harmful medical posts on social media platforms where Filipinos rank among the world’s heaviest users.

Even before Covid-19 confined people to their homes and left them fearful of seeing a doctor, many in the Philippines sought remedies online because they were cheaper and easier to access.

During the pandemic, AFP’s Fact Check team saw an explosion of misinformation about untested cosmetic products and quick-fix treatments for chronic illnesses.

The majority appear as free posts or paid advertisements on Facebook, the most popular social media site among the 76 million Internet users in the Philippines.

They can circulate for weeks or even months without detection as Facebook struggles to keep up with the torrent of misinformation flooding its platform.

Many of the products are promoted in videos that have been doctored to make it look like real medical professionals are endorsing them. 

Others appear in falsified news reports, while some are touted by vloggers such as Demasudlay.

AFP fact checkers have debunked dozens of claims, including a manipulated Philippine news report that appeared to promote a herbal supplement for diabetics as an alternative to insulin.

Demasudlay’s 15-minute video was posted in August 2022 and viewed more than 10,000 times.

She falsely claimed the “Bar Bilat Virginity Soap” had been approved by the Philippine Food and Drug Administration as a treatment for skin conditions and a way to tighten the vagina.

In fact, the FDA has warned consumers against using the “unauthorised” soap due to possible health risks that range from skin irritation to organ failure.

A few months later, Demasudlay admitted in another video that the soap had left her “itchy to the point of bleeding” – but she kept promoting it.

Philippine doctors worried about the explosion of medical misinformation during the pandemic began posting videos providing free information about common health conditions.

But the move backfired as promoters of spurious treatments used clips from those videos and inserted them into their own posts for credibility.

Geraldine Zamora, a rheumatologist in the capital Manila, was among those targeted.

In 2020, she began recording videos and posting them on TikTok, where she has more than 60,000 followers.

“It was a good thing for us because we were able to extend our medical knowledge to people who otherwise wouldn’t be able to consult with doctors,” Zamora said.

But then the footage was used to promote an unregistered brand of supplement for arthritis, which the FDA had warned consumers about.

The manipulated posts were viewed tens of thousands of times before being taken down by Facebook.

Zamora said that some of her patients considered purchasing the product in the belief she was endorsing it.

The World Health Organisation said “inappropriate promotion and advertisements” for unregistered medical products had long been a global problem and the pandemic may have made it worse.

The consequences of using unapproved treatments can be dire.

Vicente Ocampo, president of the Philippine Academy of Ophthalmology, said patients as young as 12 had become blind after using eye drops bought online instead of consulting a doctor.

“It saddens us that people will readily believe advertisements that claim to heal all eye problems as speedily as possible and pay exorbitant prices for these eye drops,” Ocampo said. — AFP 

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Thursday, March 16, 2023

Oppstar soars 225% on ACE Market debut, makes sterling debut on ACE Market

From left: Oppstar chief financial officer Chin Fung Wei, independent non-executive director Datuk Mohd Sofi Osman, independent non-executive chairman Datuk Siti Hamisah Tapsir, executive director and CEO Ng Meng Thai, executive director and chief technology officer Cheah Hun Wah, chief operating officer Tan Chun Chiat, independent non-executive director Datuk Margaret Yeo and independent non-executive director Foong Pak Chee 

Oppstar soars 225% on ACE Market debut

 

KUALA LUMPUR: Oppstar Bhd made its debut on the ACE Market of Bursa Malaysia at RM2.05 a share, a 225.4% premium over the issue price of 63 sen a share.

The stock was the most actively traded with 19.26 million shares exchanging hands.

The integrated circuit design service provider successfully raised RM104.25mil from the initial public offering exercise via the issuance of 165.48 million new ordinary shares.

Oppstar will utilise RM50mil to expand its workforce and RM25.00mil for the establishment of new offices both locally and regionally.

Meanwhile, another RM12mil will go towards research and development expenditure along with RM12.65mil for working capital.

The remaining RM4.6mil will be allocated for its listing related expenses.

“Our vision for the company is simple and clear and it is to show the global players that Malaysia is not only known for its back-end semiconductor value chain, but also has the capability to go into front-end semiconductor IC design.

"I am proud to say that we now serve clients in countries such as China, Malaysia, Japan, Singapore, as well as the USA.

"As we gradually progress, we continually ask ourselves what we can do to expand our business and continue to build up Malaysia’s profile in the front-end semiconductor space. This was where the rationale to go for a listing came about leading up to this today," said Oppstar executive director and CEO Ng Meng Thai said in a statement. 

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Oppstar makes sterling debut on ACE Market

 

PETALING JAYA: Oppstar Bhd will focus on building its human resource capital post-listing, as the technology sector is set to grow from the opportunities presented by 5G, artificial intelligence and the Internet of Things.

The integrated circuit design service provider’s chief executive officer Ng Meng Thai said the bulk of the proceeds raised from Oppstar’s listing on the ACE Market of Bursa Malaysia yesterday would be used for the workforce expansion.

“At the moment we have 220 engineers and we have plans to increase that number to 500 in the next three years. With an enlarged workforce, we also hope to grow our revenue and profitability accordingly,” he said after the company’s listing yesterday.

The group is collaborating with various universities in the country to secure future design engineers.

“We started a programme in 2020 where we hire third-year university students for three months. They work part time for 20 hours a week and are paid RM1,500 a month. Upon graduating, they are required to work for us for a year. This is how we build our talent pool.

“When it comes to business, the multinational corporations (MNCs) are our customers. However these MNCs become our competitors when it comes to hiring. This is why other than fundraising, our objective in carrying out the listing exercise is also about hiring and retention,” said Ng.

Oppstar raised RM104.3mil from the public issue of 165.48 million new shares. The company made its debut in the market opening at RM2.05 per share, or a RM1.42 premium above the offer price of 63 sen per share.

The stock closed its maiden trading day up 285.7% or RM1.80 higher at RM2.43 a share. The share price hit a high of RM2.95 and a low of RM2 in intraday trade. Oppstar’s listing did not have an offer for sale of shares from its shareholders.

Oppstar chief financial officer Chin Fung Wei said the group intends to implement a long-term incentive plan of up to 15% of the total number of issued shares of the company for its employees.

“Prior to our initial public offering (IPO), we already had more than 20 shareholders. In fact, every one of our employees, except for those that came on board after the IPO’s closing date, is a shareholder of the company. This is one of our remuneration methods for our employees, apart from their monthly salary,” he said.

Ng added the group’s listing showed Malaysia was not only known for its back-end semiconductor value chain, but also had the capabilities to go into front-end semiconductor integrated circuit design.

“We serve clients in countries such as China, Malaysia, Japan, Singapore, as well as the US. Our expansion plans will enable us to groom future talent and grow our geographical presence which will progressively help strengthen Malaysia’s front-end semiconductor ecosystem in line with our vision,” he said.

The group plans to payout at least 25% of its annual earnings as dividends. AmInvestment Research said the US-China trade war bodes well for Oppstar because China is compelled to develop its own semiconductor capabilities. 

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