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From Global Times: Djibouti denies being ‘induced’ by Chinese firm to breach contract

Loans from China ‘shape Djibouti’s economic development’

BEIJING, Nov. 08, 2018 (GLOBE NEWSWIRE) — A senior Djibouti government official dismissed the accusation that the African country was “illegally induced” by a Chinese company to breach a contract with another foreign investor, stressing that Chinese investment is legitimate and helps build a foundation for its economic development.

The remarks were made by Aboubaker Omar Hadi, chairman of Djibouti Ports and Free Zones Authority, after African media reported Tuesday that the Hong Kong-based China Merchants Port Holdings Co “unlawfully procured and induced” Djibouti into breaching agreements with DP World, a Dubai company.

DP World filed a lawsuit against the Hong Kong-based company before the High Court of the Hong Kong Special Administrative Region, Eritrean media Tesfa News reported on Tuesday.

However, Hadi said, “China Merchants Port is a third party that has no connection with the Djibouti authority’s decision to terminate the deal.”

The chairman said that as early as 2011, the Djibouti government had to turn to international courts to seek to terminate the deal, claiming it was a result of corruption and, therefore, invalid.

Hadi added that in 2010, Djibouti also terminated an agreement with DP World on the management of the country’s old port (PAID). All these legal actions started way before the China Merchants Port began investing in Djibouti, he stressed.

Hadi was in Shanghai for the China International Import Expo, which is expected to last from Monday to Saturday.

The Djibouti government in February terminated the 50-year concession agreement that allowed DP World control of the country’s Doraleh terminal, one of the largest employers in the African country.

The terminal was jointly owned by DP World (33.34 percent) and a Djibouti state-owned entity, PDSA (66.66 percent). In 2013, China Merchants Port Holdings bought 23.5 percent of PDSA from Djibouti and became a shareholder of the port until Djibouti announced it would nationalize the terminal in September.

Djibouti accused DP World, which operates 78 ports in more than 40 countries and regions, of deliberately underusing the facilities in favor of other terminals along the Red Sea, Financial Times reported in October.

The Dubai company insisted that the 2006 contract cannot be revoked, citing a ruling by the London Court of International Arbitration in August, which was slammed by the Djibouti government as “inconsequential.”

“The government of a sovereign state has the right to renegotiate or terminate agreements that it regards as violating national interests or development, and the Djibouti government is not the only one that has done so,” Meng Guangwen, a professor specializing in free trade zones at the Tianjin Normal University, told the Global Times.

But it has to weigh the loss, such as compensation and possible damage to national image and investor confidence, Meng noted.

Hadi regards abolishing the deal as a worthy move, as he said the contract has made the terminal half empty while turnover at the terminal increased by 32 percent after terminating the deal.

The senior Djibouti official also referred to the African media reports as part of a campaign from DP World to smear the Djibouti government and “scare away” foreign investors. “But Djibouti will resolutely protect the interests of foreign investors and they are welcome,” he said.

Hadi also dismissed talk that China is causing a “debt trap” in the country. He said that the money to pay back the loans from China will not come from the government budget or from taxpayers.

He stressed that the loans, which are mostly spent on infrastructure and tied with projects, are helping stimulate consumption and building a foundation for the country’s economic development as it virtually changed the investment environment of the country.

“What differentiates Chinese investment from US and European ones is that the investment comes with no political attachment and aims at developing, instead of merely taking advantage of Djibouti,” Hadi told the Global Times on Tuesday night.

With projects for the loans, Djibouti has a better capability of paying back foreign loans, said Hadi, noting that the debt-to-GDP ratio in Djibouti, which stands at around 85 percent, will drop to 35 percent in the next five years.

The latest Doing Business 2019 Report released by the World Bank has named Djibouti as one of the economies with the most notable improvement, as the country jumped from 154th in 2018 to 99th in 2019 among 190 countries and regions.

Media contact:
Li Ruohan
opinion@globaltimes.com.cn

Acuva UV LED…รูปแบบการทำลายเชื้อโรคที่มีความกะทัดรัด ประหยัดพลังงาน และมีกำลังการทำลายเชื้อโรคมากที่สุดในโลกสำหรับอุปกรณ์ OEM แบบบูรณาการ

VANCOUVER, British Columbia, Nov. 08, 2018 (GLOBE NEWSWIRE) — Acuva Technologies ผู้นำระดับโลกในด้านเทคโนโลยีการทำลายเชื้อโรคในน้ำดื่มแบบ UVC-LED ได้เปิดตัว Strike แพลตฟอร์มที่เป็นรูปแบบที่สามารถกำหนดความกะทัดรัดได้ที่ออกแบบมาสำหรับอุปกรณ์ OEM แบบบูรณาการโดยเฉพาะ เทคโนโลยีการทำลายเชื้อโรคในน้ำดื่มแบบ UVC-LED ของ Acuva ได้ทำการจดสิทธิบัตรในด้านระบบการทำลายเชื้อในน้ำที่มีความละเอียด เชื่อถือได้และสอดคล้องกันมากที่สุด การออกแบบรูปแบบที่เป็นสแตลเลสตีลของ Strike จะมีความแข็งแรง ประหยัด ไม่จำเป็นต้องบำรุงรักษาและไร้สารปรอท

รูปแบบ Strike ของ Acuva ถูกออกแบบมาเพื่อสร้างการควบคุมสภาพแวดล้อมที่เกี่ยวกับแสงที่ตรงกับอัตราความเร็วของน้ำที่มีความเข้มของแสง UV เพื่อปรับการทำลายเชื้อของสารจุลินทรีย์ เทคโนโลยีนวัตกรรมของ Acuva ที่เพิ่มพลังงานของ UVC-LED ที่มีให้ผ่านเลนส์กันแสงที่มีลำแสงพลังงาน UV ที่ส่งลงไปในน้ำโดยตรง ในขณะที่ลดการใช้พลังงานและขยายอายุการใช้งานของแสง LED ด้วยการเปิด/ปิดการใช้งานแบบอัตโนมัติ

โครงสร้างของบอร์ดที่บางเบาและกะทัดรัดของ Strike ของ Acuva ทำให้การผสมผสานในการจัดเรียงการใช้งานของลูกค้าและด้านการพาณิชย์ที่มีขนาดใหญ่ที่เคยเป็นไปไม่ได้มาก่อน สิ่งนี้จะประกอบไปด้วยเครื่องทำน้ำเย็น/เครื่องจ่ายน้ำ/น้ำพุจำลอง เครื่องทำน้ำดื่ม เครื่องทำกาแฟหรือชา และอุปกรณ์การทดลองด้านน้ำ มากกว่านั้น การออกแบบอย่างเฉพาะของ Strike จะปรับขนาดได้ง่ายและให้การกำหนดได้อย่างเต็มรูปแบบเพื่อให้ตรงกับอัตราการไหลของ OEM และข้อกำหนดด้านประสิทธิภาพของการทำลายเชื้อ

ระบบการทำความเย็นด้วยตัวเองที่ชาญฉลาดและประหยัดพลังงานของ Acuva ถูกออกแบบมาให้ปราศจากการบำรุงรักษาอย่างแท้จริงและให้การใช้งานที่ไร้สิ่งกีดขวางและไม่มีความยุ่งยาก นอกจากนี้ เทคโนโลยีที่จดสิทธิบัตรแล้วของ Acuva ป้องกันการขูดแร่และกำจัดความต้องการในการทำความสะอาดและการเปลี่ยนอุปกรณ์บ่อยๆ ที่จะไม่เหมือนโคมไฟแบบ UV

Acuva ให้การรับรองที่ครอบคลุมผ่านทุกขั้นตอนของการผสมผสานผลิตภัณฑ์ ที่ประกอบด้วยอุปกรณ์การใช้งานแบบบูรณาการด้านวิศวกรรมและการให้ความช่วยเหลือผู้ใช้ปลายทาง

เทคโนโลยีแบบไร้สารปรอทของ Acuva นั้นยังทำตามการประชุมของ Minamata โปรแกรมด้านสิ่งแวดล้อมของสหประชาชาติ ซึ่งออกกฎเพื่อขจัดสารปรอทภายในปี 2020 ประสิทธิภาพการทำลายเชื้อโรคที่เหนือกว่าของ Acuva บวกกับพลังงานขนาดเล็กและข้อกำหนดด้านการบำรุงรักษานั้นได้ให้ข้อเสนอด้านคุณค่าที่ไม่สามารถหาผู้ใดเทียบได้สำหรับอุตสาหกรรมของอุปกรณ์การใช้งาน ผลลัพธ์ของการลงทุนสำหรับ Acuva รูปแบบ Strike คือสะอาดเหมือนกับน้ำที่บริสุทธิ์ สำหรับข้อมูลเพิ่มเติมของผลิตภัณฑ์ของ Acuva รวมถึงรูปแบบใหม่ของ Strike โปรดไปที่ www.acuvatech.com

ลิงก์ของรูปภาพผลิตภัณฑ์: http://bit.ly/AcuvaStrike

สำหรับข้อมูลเพิ่มเติม การสอบถามด้านสื่อหรือการสำรองที่นั่งสำหรับการสัมภาษณ์ โปรดติดต่อ:
Acuva Technologies
media@acuvatech.com
โทรได้ฟรี 1-800-980-8810

สำหรับการสอบถามด้านธุรกิจและการลงทุน โปรดติดต่อ:
Manoj Singh, CEO
msingh@acuvatech.com

Acuva Technologies ผู้นำระดับโลกในด้านการออกแบบและผลิตเทคโนโลยีการทำลายเชื้อในน้ำดื่มแบบ UV LED สำหรับอุปกรณ์ OEM แบบบูรณาการ เช่นเดียวกับระบบต่างๆ สำหรับบ้าน พึ่งพาตนเอง ด้านการเดินเรือและการใช้งานรถบ้านแบบสมบูรณ์ สำหรับข้อมูลเพิ่มเติม โปรดไปที่ www.acuvatech.com

Influbook announces their ICO

Connecting influencers, businesses, and consumers for a new social-commerce experience.

Besançon, Nov 7, 2018: Influbook, the first open-network for Influencers to build their social reputation, connect directly with the brands they love, and join forces to offer consumers a new way to discover products and services through the passionate storytelling of influencers around the world.

The vast majority of influencer marketing budgets go to the top 1% influencers – Influbook empowers the remaining 99%. Without costly marketing services, businesses are challenged with finding, qualifying & connecting with relevant influencers. At the same time, influencers struggle to prove their value and monetize their social media audiences. We enable the perfect match for an influencer of any size with the marketing objectives and budget of any business. The goal is to open up the influencer ecosystem to a wider audience where influencers, marketers & consumers can easily discover, qualify, and connect for free to democratizes influence while generating new revenue opportunities for the sharing economy.

Influbook empowers consumers with a network of shoppable blogs that combine brand descriptions with passionate influencer posts from any social network in a single place…At the moment of buying decision. Based on popular demand, Influbook has also adopted a strategy to white label its platform to companies, cities, and governments as a new way to invite qualified influencers to promote their services directly on their company websites.

“Influencers enable MicroMania with an effective channel to communicate with its community of gamers and Influbook is well positioned to lead this activity”, says Nicolas Bertrand, Senior Vice President, GameStop Europe, and Filip Soete, Chief Commercial Officer, Nice International Airport quotes “At the Nice Côte d’Azur Airport, we have thirteen million passengers a year that walk through our Duty Free shops and we are eager to work with influencers to promote the brands we represent. A collaboration with Influbook on a strategy to gain visibility on the social networks of their influencers would certainly be beneficial for the airport and our customers”.

Chaineum, a leading ICO boutique in Europe is assisting Influbook with its ICO and the tokenization of it cryptocurrency, the Fluence, an ERC20 utility token. Fluence can be used for payments and purchases on the Influbook platform with five strong utility cases: E-commerce, Influencer Marketing Campaigns, Community rewards, Cash-back rewards, Voting rights. For more information, visit our ICO website at www.influbook.io.

Influbook was part of the Alpha startup program at WebSummit in Lisbon on Nov 5 – 8. Nathan Frey, the founder, was pitching on November 6.  Also join us at many other conferences to include BlockShow Asia in Singapore on Nov 27 – 30, World Blockchain Summit Riyadh on Dec 5 – 6, and CryptoBlockCon Las Vegas Dec 11 -12.

Company: info@influbook.com
Press: press@influbook.com
Main Website: www.influbook.com
ICO Website: www.influbook.io
Twitter: twitter.com/influbook
Facebook: facebook.com/influblog
LinkedIn: linkedin.com/company/influbook
Telegram: t.me/influbook

 

Chaineum Capital Partners
Founded by Laurent Leloup, an expert in blockchain and corporate finance, Chaineum Capital Partners, specialized in decentralized economy and blockchain technology, provides strategic and financial advice, and also accompaniment to corporates, investors, family offices, financial sponsors, banks and governments.
Chaineum Capital Partner is specialized in:

  • Financial and Crypto Financial Engineering, tokenomics, assets tokenization and cryptocurrencies ;
  • process of raising funds via token sale*, fundraising, funding, private placement;
  • M&A advisory, blockchain investments strategy.

Chaineum Capital Partners, the bridge between old finance & crypto finance.
Headquarters in Besançon + offices in Paris, Geneva & Neuchâtel.
www.chaineum.com

Contact:
Laurent Leloup – CEO
ll@chaineum.com

 

SpeeDx broaden distribution network across Europe

AxonLab, Diamedica, Vircell and Biomedica sign on as new distribution partners

SYDNEY, Australia, Nov. 08, 2018 (GLOBE NEWSWIRE) — SpeeDx have announced the signing of a further four distribution partners, in preparation to strengthen representation across Europe. Axonlab (Germany, Benelux and Switzerland), Vircell (Spain),  Diamedica (Estonia, Latvia, and Lithuania) and Biomedica (Central Eastern Europe) each have a strong presence in their chosen markets and synergies with the SpeeDx vision to improve patient management with comprehensive diagnostics.

“We welcome our new partners and the additional support they will bring to these significant European markets,” said Colin Denver, SpeeDx CEO. “Demand for ResistancePlus MG has increased in response to updates in management guidelines for Mycoplasma genitalium, and we anticipate further interest with the planned expansion of our portfolio.”

These latest distribution agreements are timed to coordinate with the release of ResistancePlus® GC, the next flagship test in the SpeeDx portfolio that combines Neisseria gonorrhoeae (GC) detection with markers for ciprofloxacin susceptibility. Due for release later this month, the test complements the current market-leading ResistancePlus MG assay that simultaneously detects Mycoplasma genitalium and genetic markers for azithromycin resistance. There are further plans to expand ResistancePlus MG tests to include markers for resistance to second-line antibiotics.

The SpeeDx portfolio also includes a multiplex test for herpes simplex virus (1 and 2), varicella zoster and Treponema pallidum (syphilis). Further tests in the PlexPCR portfolio include plans for a comprehensive multiplex panel for respiratory virus testing.

About SpeeDx

Founded in 2009, SpeeDx is an Australian-based private company with offices in London and the US, and distributors across Europe. SpeeDx specializes in molecular diagnostic solutions that go beyond simple detection to offer comprehensive information for improved patient management. Innovative real-time polymerase chain reaction (qPCR) technology has driven market-leading multiplex detection and priming strategies. SpeeDx has a portfolio of CE-IVD kits for detection of infectious disease pathogens, sexually transmitted infection (STI), and antimicrobial resistance markers and is currently conducting clinical trials for FDA clearance in 2019. SpeeDx ResistancePlus tests enable Resistance Guided Therapy, improving patient outcomes by empowering practitioners to make informed clinical decisions.
For more information about SpeeDx please see: http://plexpcr.com

Contact:

Madeline O’Donoghue
Global Marketing Manager
madelineo@speedx.com.au
+61 2 9209 4170

 

Strong values drive growth for family business amid disruption fears, finds PwC global survey

  • PwC’s Family Business Survey 2018 finds optimism at highest level for over a decade
  • First-generation family business clearly outperform their subsequent generation peers
  • 53% of businesses reporting double-digit growth have clear, written articulation of values
  • ‘Unleash values to unlock growth,’ says PwC

LONDON, Nov. 07, 2018 (GLOBE NEWSWIRE) — Family businesses should seek to maximise the competitive advantage that comes from their strong values-led culture, according to the Global Family Business Survey 2018 released today by PwC.

This year’s survey saw family business leaders globally reporting robust health, with levels of growth at their highest level since 2007.  Revenues are expected to continue growing for the vast majority of businesses (84%), with 16% saying it will be “quick” and “aggressive”.

Regionally businesses in the Middle East and Africa were the most optimistic, with 28% expecting aggressive growth. They are followed by those in Asia Pacific (24%), Eastern Europe (17%), North America (16%), Central/South America (12%) and Western Europe (11%).

First-generation family businesses clearly outperform those run by subsequent generations in their ability to achieve double-digit growth, highlighting the need to balance business model continuity with an appetite for disruption.

The top three challenges cited by family businesses are innovation (66%), accessing the right skills and capabilities (60%) and digitalisation (44%). Indeed, 80% see digitalisation, innovation and technology ranked together as a significant challenge.

Most strikingly, the 2018 edition of the survey demonstrates a link between putting values at the heart of strategic planning and strong growth prospects. While 75% of family businesses believe their stronger culture and values gives them an advantage over non-family businesses, less than half (49%) of respondents have those values articulated in written form.

Among those family businesses reporting double-digit annual growth, 53% were able to point towards a codified set of values. This reflects the increasing emphasis needed on integrating business ownership strategies and family business growth strategies.

Peter Englisch, Global Leader for Family Business at PwC and report co-author says,

“The message is clear: adopting an active stance towards company values generates practices that pay off in real terms. A commitment to a clearly defined set of values can act as an ‘inner compass’ for a family business as it navigates the challenges of technological and competitive disruption.

“What this survey clearly indicates, however, is that family business values are not simply the same as family values,” Englisch says. “Business values should be clearly defined and articulated, but also strongly embedded in the business culture and the day-to-day decision-making regularly reviewed.”

The PwC Family Business Survey also contains insights into how the pace of technology change and generational differences are informing family businesses’ approach to legacy and succession planning.

  • Concern about the threat from digital disruption – ranging from new competition, to security vulnerability, and understanding of the threat – is higher than average (30%) amongst media, entertainment (65%), retail (53%) and financial services (52%) sectors.
  • Over a quarter (26%) of large organisations (with $100m+ revenues) identify AI/Robotics as a concern over the next two years, significantly higher than those with $20m revenues or less (16%).
  • 69% of respondents say they expected or encouraged the next generation of future leaders – including family members – to gain experience and develop skills outside of the family business to ensure they keep pace with innovation.

Peter Englisch says,

“With over 350,000 family and private businesses set to change hands in the next years as owners retire, there is understandable concern about continuity planning. The next generation will be increasingly facing a different landscape in terms of the impact of technologies such as artificial intelligence and robotics, as well as cybersecurity risks,” he says.

“Yet our research again highlights the benefits of a values-led approach that can focus a family business on the continuity planning they need to do, and how that approach can help attract and equip the next generation with the skills needed to thrive in a digital age.”

Despite family businesses’ confidence and growth potential, the report cautions that the growth expectation is not always achieved. David Wills, Global Leader for Entrepreneurial and Private Business at PwC comments:

“Whilst the aspiration is strong, focusing on strategic planning remains a blind spot for too many family businesses. 21% report having no strategic plan at all, 30% have a plan in mind, but it is not far advanced. However, of the 49% that have formal mid-term plans, 42% of them were experiencing double digit growth. This demonstrates the strong correlation between strategic planning and performance excellence and builds up the habits that, over time, create a distinctive legacy.”

“The speed of change in business is far greater than ever before. Just because you are growing now does not mean it will continue. Now, more than ever, capitalising on the inherent advantages of family business ownership requires business owning families to bring two core components together – the ownership strategy and the business strategy.”

ENDS

Notes to editors:

Find the full report: at www.pwc.com/fambizsurvey2018

Follow us on twitter:  @PwC

About the research
PwC surveyed 2953 companies in 53 countries covering a wide range of sectors from agriculture to technology.

Between 20 April 2018 and 10 August 2018, 2,953 semi-structured telephone, online and face-to-face interviews took place with senior executives from family businesses in 53 territories worldwide.

The interviews were conducted by Kudos Research, in the local language by native speakers, and averaged between 30 and 40 minutes. The turnover of participating companies ranged from US$5m to more than US$1bn. All results were analysed by Jigsaw Research.

About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with over 250,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

© 2018 PwC. All rights reserved

Contact
David Bowden, PwC
Tel: +44 (0)7483365049
e: david.bowden@pwc.com

Strong values drive growth for family business amid disruption fears, finds PwC global survey

  • PwC’s Family Business Survey 2018 finds optimism at highest level for over a decade
  • First-generation family business clearly outperform their subsequent generation peers
  • 53% of businesses reporting double-digit growth have clear, written articulation of values
  • ‘Unleash values to unlock growth,’ says PwC

LONDON, Nov. 07, 2018 (GLOBE NEWSWIRE) — Family businesses should seek to maximise the competitive advantage that comes from their strong values-led culture, according to the Global Family Business Survey 2018 released today by PwC.

This year’s survey saw family business leaders globally reporting robust health, with levels of growth at their highest level since 2007.  Revenues are expected to continue growing for the vast majority of businesses (84%), with 16% saying it will be “quick” and “aggressive”.

Regionally businesses in the Middle East and Africa were the most optimistic, with 28% expecting aggressive growth. They are followed by those in Asia Pacific (24%), Eastern Europe (17%), North America (16%), Central/South America (12%) and Western Europe (11%).

First-generation family businesses clearly outperform those run by subsequent generations in their ability to achieve double-digit growth, highlighting the need to balance business model continuity with an appetite for disruption.

The top three challenges cited by family businesses are innovation (66%), accessing the right skills and capabilities (60%) and digitalisation (44%). Indeed, 80% see digitalisation, innovation and technology ranked together as a significant challenge.

Most strikingly, the 2018 edition of the survey demonstrates a link between putting values at the heart of strategic planning and strong growth prospects. While 75% of family businesses believe their stronger culture and values gives them an advantage over non-family businesses, less than half (49%) of respondents have those values articulated in written form.

Among those family businesses reporting double-digit annual growth, 53% were able to point towards a codified set of values. This reflects the increasing emphasis needed on integrating business ownership strategies and family business growth strategies.

Peter Englisch, Global Leader for Family Business at PwC and report co-author says,

“The message is clear: adopting an active stance towards company values generates practices that pay off in real terms. A commitment to a clearly defined set of values can act as an ‘inner compass’ for a family business as it navigates the challenges of technological and competitive disruption.

“What this survey clearly indicates, however, is that family business values are not simply the same as family values,” Englisch says. “Business values should be clearly defined and articulated, but also strongly embedded in the business culture and the day-to-day decision-making regularly reviewed.”

The PwC Family Business Survey also contains insights into how the pace of technology change and generational differences are informing family businesses’ approach to legacy and succession planning.

  • Concern about the threat from digital disruption – ranging from new competition, to security vulnerability, and understanding of the threat – is higher than average (30%) amongst media, entertainment (65%), retail (53%) and financial services (52%) sectors.
  • Over a quarter (26%) of large organisations (with $100m+ revenues) identify AI/Robotics as a concern over the next two years, significantly higher than those with $20m revenues or less (16%).
  • 69% of respondents say they expected or encouraged the next generation of future leaders – including family members – to gain experience and develop skills outside of the family business to ensure they keep pace with innovation.

Peter Englisch says,

“With over 350,000 family and private businesses set to change hands in the next years as owners retire, there is understandable concern about continuity planning. The next generation will be increasingly facing a different landscape in terms of the impact of technologies such as artificial intelligence and robotics, as well as cybersecurity risks,” he says.

“Yet our research again highlights the benefits of a values-led approach that can focus a family business on the continuity planning they need to do, and how that approach can help attract and equip the next generation with the skills needed to thrive in a digital age.”

Despite family businesses’ confidence and growth potential, the report cautions that the growth expectation is not always achieved. David Wills, Global Leader for Entrepreneurial and Private Business at PwC comments:

“Whilst the aspiration is strong, focusing on strategic planning remains a blind spot for too many family businesses. 21% report having no strategic plan at all, 30% have a plan in mind, but it is not far advanced. However, of the 49% that have formal mid-term plans, 42% of them were experiencing double digit growth. This demonstrates the strong correlation between strategic planning and performance excellence and builds up the habits that, over time, create a distinctive legacy.”

“The speed of change in business is far greater than ever before. Just because you are growing now does not mean it will continue. Now, more than ever, capitalising on the inherent advantages of family business ownership requires business owning families to bring two core components together – the ownership strategy and the business strategy.”

ENDS

Notes to editors:

Find the full report: at www.pwc.com/fambizsurvey2018

Follow us on twitter:  @PwC

About the research
PwC surveyed 2953 companies in 53 countries covering a wide range of sectors from agriculture to technology.

Between 20 April 2018 and 10 August 2018, 2,953 semi-structured telephone, online and face-to-face interviews took place with senior executives from family businesses in 53 territories worldwide.

The interviews were conducted by Kudos Research, in the local language by native speakers, and averaged between 30 and 40 minutes. The turnover of participating companies ranged from US$5m to more than US$1bn. All results were analysed by Jigsaw Research.

About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with over 250,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

© 2018 PwC. All rights reserved

Contact
David Bowden, PwC
Tel: +44 (0)7483365049
e: david.bowden@pwc.com

UN Expert Says Drop Charges Against Cambodia Opposition Leader, Barring Speedy Trial

Cambodia should quickly and transparently try opposition leader Kem Sokha, who is currently detained at his home on charges of treason, or drop the case against him, a United Nations expert said Thursday at the end of her sixth visit to the Southeast Asian nation.

Kem Sokha, the president of the now-dissolved Cambodia National Rescue Party (CNRP), is being held under house arrest after being released from prison on Sept. 10, 2018, a year after he was detained for allegedly plotting to overthrow the government�charges widely seen as politically motivated.

The release of the 65-year-old opposition leader from pre-trial detention carries the conditions that he must stay within a block radius of his home, cannot meet with CNRP officials or foreigners, and cannot speak at or host any rallies or political activities.

He still faces up to 30 years in prison if convicted of treason.

In a statement issued at the end of her 11-day fact-finding mission, Rhona Smith, the U.N. Special Rapporteur on the situation of human rights in Cambodia, said she remained concerned that Kem Sokha is detained under judicial supervision with his rights and freedoms curtailed more than 14 months after his arrest, noting that she had been denied access to him and other detainees during her visit.

I also call for the release of Kem Sokha from restricted detention and for the swift conclusion of the investigation in his case to ensure his right to a trial within a reasonable time based on a clear and transparent evaluation of the evidence, or for the charges to be dropped.

Smith also asked authorities to lift the convictions with suspended sentence of prominent activist Tep Vanny, who was granted a royal pardon in August after spending more than two years in prison for her role in a protest over a land grab, and of a group of current and former staffers with local rights group ADHOC, and to drop pending charges against two former RFA journalists accused of espionage.

While the special rapporteur welcomed small improvements in judicial services she believes will help bring justice to ordinary Cambodians, she urged the country’s courts to be timelier in trial proceedings and called for an end to pre-trial detention.

Access to justice also requires speedy trials and I am concerned at the time taken to conduct trials and the significant number of people in pre-trial detention, Smith said.

I repeat my recommendations to use pre-trial detention only when absolutely necessary in accordance with Cambodia criminal procedure code; to carefully document the use of pre-trial detention; and to regularly view the ongoing need in each case.

She also addressed concerns that Cambodia’s courts are beholden to Prime Minister Hun Sen and his ruling Cambodian People’s Party (CPP), urging the Ministry of Justice and judicial institutions to take more active steps to combat corruption and strengthen judicial independence and impartiality.

Government responds

Shortly after Kem Sokha’s arrest, Cambodia’s Supreme Court dissolved the CNRP for its alleged role in his plot, setting the stage for a resounding win by the CPP in the country’s July 29 general election�polls widely dismissed as unfree and unfair.

Hun Sen also launched a months-long crackdown on NGOs and the independent media in the lead up to the vote that drew condemnation from Western governments who have accused the strongman of rolling back democratic freedoms in Cambodia.

Despite criticism over Hun Sen’s governance, Keo Remy, head of the Cambodian Human Rights Committee, told reporters following a meeting with Smith earlier this week that there are no human rights violations in the country.

On Thursday, Council of Ministers spokesman Phay Siphan dismissed Smith’s concerns over Kem Sokha’s detention as an insult and an attack on our judicial system, adding that his case is being processed by the court.

If she understood the law well, she would not have made this appeal, he said, suggesting that Kem Sokha find good attorneys to represent him at his trial.

[She] shouldn’t refer to our judicial system as a political tool and laugh at it.

Phay Siphan added that Cambodia has no need for evaluation, because we are busy resolving all pressing issues.

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