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AMTD IDEA Group (NYSE: AMTD; SGX: HKB) has announced a long-term partnership with The Sandbox to create a cultural and fashion hub in the metaverse. This partnership will feature the launch of AMTD L’Officiel LAND in March 2023, offering an immersive gaming experience for users. The aim is to build a vibrant community around fashion and culture through this digital platform. AMTD Group's Chairman Calvin Choi expressed excitement about the partnership, highlighting the ambition to redefine digital experiences. This venture marks a significant step for AMTD in establishing a presence in Web3 and enhancing global engagement in the digital fashion sector.
AMTD International announced a joint venture, AK73 Capital, partnering with AMTD Digital, 36Kr, Airstar Digital, and Calvin Choi. This venture aims to support China's new economy by providing a comprehensive service platform focusing on strategic consulting, data analytics, and capital market services. With a mission to empower new economy businesses, AK73 Capital leverages resources from its partners to foster innovation and increase business opportunities. The initiative underscores AMTD's commitment to aiding new economy companies in navigating global capital markets.
AMTD International (NYSE: HKIB; SGX: HKB) has announced a strategic investment by Airstar Digital, a subsidiary of Xiaomi Corporation, in AMTD Capital. Airstar Digital will acquire 49.87% ownership of AMTD Capital, which is set to focus on FinTech and smart manufacturing investments. The collaboration aims to provide enterprises with low-cost capital and added services. Additionally, AM Capital will benefit from support by the Hengqin Financial Services Bureau to enhance its business in the Greater Bay Area. This marks the second major partnership between AMTD Group and Airstar Digital.
AMTD International announced the appointment of Deloitte as its new independent registered public accounting firm, effective January 22, 2021, replacing Ernst & Young who served for six years. This decision, approved by the Audit Committee, aligns with international best practices for auditor independence. Deloitte will audit the consolidated financial statements for the year ending December 31, 2020. The change aims to enhance governance standards across both the NYSE and SGX exchanges, ensuring fresh perspectives and compliance with AMTD Group's auditor rotation policy.
AMTD International (HKIB, HKB) reported strong financial performance for the six and nine months ended September 30, 2020. Fee and commission income surged by 62.8% to HK$451.0 million (US$58.2 million) for the six months, and 26.7% to HK$534.9 million (US$69.0 million) for nine months. Total revenue derived from fees and commissions reached 90.5% of total revenue. However, net fair value changes on investments dropped significantly, with a net loss of HK$5.5 million (US$0.7 million) for six months. Operating expenses rose 65.6% to HK$83.7 million (US$10.8 million) for six months, impacting overall profitability.
AMTD International Inc. (NYSE: HKIB; SGX: HKB) announced significant leadership changes and a new majority independent board structure, marking its migration to a '2.0 version.' Effective immediately, Mr. William Fung is promoted to Chief Executive Officer, taking over from Mr. Calvin Choi, who will focus on broader strategic developments for AMTD Group. The Board appointed Dr. Feridun Hamdullahpur as chairman and Mr. Gao Yu as vice chairman, both independent directors. This restructuring aims to enhance corporate governance and support continued growth in Asia and beyond.
