L’Officiel Inc. SAS Granted Permits by the Ministry of Home Affairs of Malaysia to Publish Locally and Achieved Another Milestone Under the Direct Owner’s Model

Rhea-AI Summary

L'Officiel Inc. SAS, a subsidiary of AMTD IDEA Group (NYSE: AMTD), has been granted a publication permit in Malaysia for its subsidiary, L'Officiel Malaysia Sdn. Bhd. This approval follows the relaunch of its Singapore edition and marks a significant step in expanding its presence in Southeast Asia. Dr. Feridun Hamdullahpur, Chairman of AMTD IDEA Group, expressed confidence in the magazine's appeal to local readers, while Managing Director Aileen Soh emphasized commitment to producing engaging content. This initiative aligns with AMTD's strategy to enhance media and cultural offerings in the region.

Positive

• Granting of publication permit in Malaysia enhances market presence.
• Successful relaunch in Singapore indicates operational viability.
• Commitment to producing relevant content for local audiences.

Negative

• None.

NEW YORK & HONG KONG & SINGAPORE--(BUSINESS WIRE)-- L’Officiel Inc. SAS (“L’Officiel”), a subsidiary of AMTD IDEA Group (NYSE: AMTD; SGX: HKB), announced that its subsidiary, L'Officiel Malaysia Sdn. Bhd., has been granted the publication permit in Malaysia by the Ministry of Home Affairs. The permit was obtained soon after L’Officiel’s announcement of its relaunching exercise in Singapore and Malaysia editions under the direct owner’s model.

(Photo: Business Wire)

L’Officiel SAS Inc. together with AMTD Digital Media & Entertainment Group, being the media, cultural and entertainment arm of AMTD Digital Inc. (NYSE: HKD), another subsidiary of AMTD IDEA Group, form part of a comprehensive platform globally covering media, art, culture and entertainment. The platform boasts extensive credentials and experience in producing, promoting and distributing top quality contents, images and outputs to the public.

Dr. Feridun Hamdullahpur, Chairman of AMTD IDEA Group and a board director of AMTD Digital Inc., commented: “Since its new beginning under the banner of AMTD, L’Officiel has recreated its global presence where local and global objects in the form of fashion, art, culture and food, to name a few, will intermingle in various local settings. After a successful relaunch in Singapore just recently, I am delighted to see that our magazine is given a green light to start the Malaysia edition. I am certain that it will captivate the readers with amazing, exciting, and invigorating articles. Congratulations!”

Ms. Aileen Soh, Managing Director of Southeast Asia for L’Officiel SAS Inc., commented, “We truly appreciate the confidence and support shown to us by our clients and AMTD IDEA Group, and we are happy to introduce our very first edition of L'Officiel Malaysia under the direct owner’s model. The Malaysian team is committed to doing our best to produce relevant and interesting content for all our fans and readers.”

About AMTD IDEA Group

AMTD IDEA Group, formerly known as AMTD International Inc. (NYSE: AMTD; SGX: HKB) represents a premier Asia financial institution and digital solutions group connecting companies and investors from Asia, including China and Hong Kong as well as the ASEAN markets with global capital markets. Its comprehensive one-stop financial services plus digital solutions platform addresses different clients’ diverse and inter-connected financial needs and digital requirements across all phases of their life cycles. Leveraging its deep roots in Asia and its unique eco-system — the "AMTD SpiderNet" — the Company is uniquely positioned as an active superconnector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on Twitter at @AMTDGroup.

About AMTD Digital Inc.

AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform in Asia. Its one-stop digital solutions platform operates four main business lines including digital financial services, SpiderNet ecosystem solutions, digital media, content and marketing, as well as digital investments. It is the fusion reactor at the core of the AMTD SpiderNet ecosystem and empowers and integrates the various digital businesses within its ecosystem. For AMTD Digital’s announcements, please visit https://ir.amtdigital.net/investor-news.

About L’OFFICIEL

L’Officiel (www.lofficiel.com) is a global leading media company built on a centennial brand legacy, based in Paris since 1921. Present in 80 countries, with 32 in-language international media, L’Officiel is today visible by fashion enthusiast worldwide through its extensive, omni-platform digital presence. Recognized as a leading luxury and fashion brand, L’Officiel is an international reference for French style and pioneer in fashion, beauty, lifestyle and contemporary society.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group and AMTD Digital Inc., are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group and AMTD Digital Inc. with the SEC. All information provided in this press release is as of the date of this press release, and AMTD IDEA Group and AMTD Digital Inc. do not undertake any obligation to update any forward-looking statement, except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230327005400/en/

For AMTD IDEA Group:

IR Office

AMTD IDEA Group

TEL: +852 3163-3389

EMAIL: ir@amtdinc.com

For AMTD Digital Inc.:

IR Office

AMTD Digital Inc.

TEL: +852 3163-3298

EMAIL: ir@amtdigital.com

Source: AMTD IDEA Group and AMTD Digital Inc.

FAQ

What does the new publication permit in Malaysia mean for AMTD IDEA Group (AMTD)?

The new publication permit allows AMTD IDEA Group's subsidiary, L'Officiel Malaysia, to expand its media operations in Malaysia, enhancing its regional presence.

When was the publication permit for L'Officiel in Malaysia granted?

The publication permit for L'Officiel Malaysia was recently granted following their announced relaunch in Singapore.

How does the relaunch in Singapore affect AMTD's stock performance?

The successful relaunch in Singapore may positively influence investor confidence in AMTD IDEA Group, potentially benefiting its stock performance.

What is the significance of L'Officiel's expansion in Southeast Asia for AMTD Digital Inc. (HKD)?

L'Officiel's expansion in Southeast Asia signifies AMTD Digital Inc.'s strategic growth in the media and entertainment sector, which may enhance overall brand value.