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HONG KONG SAR – Media OutReach – 29 September 2023 – Hong Kong is among the jurisdictions globally that is introducing new rules and guidance in areas including ESG reporting and enhancing investor protection, according to a new report from KPMG. Such regulatory refinements will help to strengthen Hong Kong’s status as an asset management hub. At the same time, however, asset managers in the city will need to consider how to manage the diverging landscape as regulators globally take different approaches to dealing with common challenges and priorities.

The 13^th edition of KPMG’s annual flagship report, Managing divergence: Evolving Asset Management Regulation Report 2023, draws information from over 11,000 publications by regulators across over 30 jurisdictions, and consolidates the insights and knowledge of KPMG specialists around the world on common regulatory themes, challenges, and market opportunities in asset management regulation.

Andrew Weir, Global Head of Asset Management, KPMG, says, “Given the cross-border nature of the asset management industry, effective management of regulatory divergence is only going to become more important over time. To respond effectively to these challenges, asset managers need robust and flexible business models, with strong governance, intelligent risk management frameworks, state-of-the art technology, good oversight of service providers and appropriate distribution strategies. Firms need to manage their own costs and ensure that the costs and charges borne by investors are transparent and justifiable.”

There has been a notable increase in regulatory efforts around the world to protect retail investors. Besides traditional themes such as product governance, there is a significant focus on value for money and transparency, reflected in new fair value considerations and disclosure requirements.

In some jurisdictions, funds are required to have licensed depositary entities, which act independently from the fund management company, to better safeguard investors. Hong Kong, for example, plans to introduce a new “Type 13” regulated activity covering fund depositary services, starting in October 2024.

“Asset managers in Hong Kong should review their firm’s strategy, culture and purpose to ensure it continues to serve their customers’ best interests amid the growing global regulatory focus on customer protection and increasing access to information,” said Vivian Chui, Head of Securities and Asset Management, Hong Kong, KPMG China.

Regulators around the world continue to create new fund vehicles or amend existing products, to offer flexibility and compete for market share. China has continued to open its markets to foreign investors by expanding the scope of existing regimes. New wholly foreign-owned fund management companies were approved and given the go-ahead in 2023, which demonstrated the further opening-up of China’s asset management sector. Further to the opening of the Chinese bond markets to Qualified Foreign Institutional Investors (QFIIs), in autumn 2022, the CSRC revised provisions on settlement of domestic securities transactions by QFIIs and consulted on cross-border futures business. For managers of private funds, new rules and guidance issued in May 2023 relaxed approval and licensing requirements for wholly foreign-owned managers.

Jurisdictions are opening their markets to foreign investors. Authorities are also aiming to bolster investment from professional investors, and in infrastructure to assist economic recovery. The CSRC and the SFC continue to strengthen links between the Chinese Mainland and Hong Kong, with the expansion of Stock Connect.

Meanwhile, integrating ESG risks into the risk management process is of vital importance for all financial undertakings. The SFC supported a consultation issued by the Stock Exchange of Hong Kong on proposed climate-related reporting requirements for listed companies in Hong Kong. Additionally, the SFC plans to review how Hong Kong fund managers use ESG ratings and data providers – this will result in guidance for the industry. In addition, some cross-border collaboration on sustainable finance is evident, such as through the green finance taskforce that has been established between the Monetary Authority of Singapore (MAS) and the People’s Bank of China to facilitate greater public/private sector collaboration.

Distributed ledger technology (DLT) underpins cryptoassets but is also being put to good use in market infrastructure initiatives, including fund unit tokenization and settlement. The MAS is working with the industry in Singapore to explore the potential of DLT, and to facilitate the tokenization of financial and real economy assets. In Hong Kong, fund tokenization is not presently allowed, but the regulator is open to discussions.

Hashtag: #KPMGChina

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SINGAPORE – Media OutReach – 29 September 2023 – Amazon Global Selling today announced the Amazon Global Selling Summit 2023 (Southeast Asia) will be held at the cross-border e-commerce theatre at this year’s eCommerce Expo Asia, a key e-commerce industry event. Located at the Marina Bay Sands Expo & Convention Centre on 11-12 October with the theme, ‘Go Global from the Get Go’, Amazon Global Selling Summit (Southeast Asia) 2023 aims to support all aspiring, new, and experienced sellers in Singapore and across the Southeast Asia region in taking their brand global through Amazon stores in North America, Europe, and worldwide.

< >With nearly 20 sessions and over 10 breakout consultation groups across the 2 days on cross-border e-commerce, attendees will hear, learn, and network with subject matter experts from Amazon Global Selling as well as top Amazon Global Sellers from Singapore, US, and Australia who will share more about their experiences in their journey of selling on Amazon. There will also be breakout sessions catered to different seller stages that will provide insights on a variety of topics such as shipping and fulfillment, e-commerce store optimizations, product research and sourcing, multi-channel brand building and advertising.

Attendees to the summit can attend free learning sessions at the cross-border e-commerce theatre, have consultations at the Amazon Global Selling pavilion, and network with more than 10 cross-border e-commerce service providers with expertise in logistics, sourcing, trademarking, and cross-border returns and more. Business owners, aspiring sellers, and anyone interested in breaking into new opportunities overseas can tap into a vast network of resources that will be able to offer solutions to meet their business needs. Tens of thousands of attendees at Tech Week Singapore and the eCommerce Expo will be able to access the Amazon Global Selling pavilion.

Anand Palit, Head of Amazon Global Selling, Southeast Asia, said, ”Our theme this year is ‘Go Global from the Get Go’, because we have seen and know that there is strong appetite for businesses in Singapore, and SEA countries such as the Philippines, Thailand and Malaysia, to grow their business through cross-border e-commerce. At this year’s Summit, we aim to help businesses from these countries to discover innovative solutions and make better use of the selling and advertising tools from Amazon to continue to carve out new ways to bring their businesses to new heights.”

Demonstrating impact and showcasing seller success across the region

The upcoming Summit will feature top Amazon Global Sellers from both Singapore, the US and Australia. Through the inspiring stories of these sellers, attendees can expect to learn from their experiences and hear first-hand, how they have leveraged Amazon’s services and tools to scale their businesses globally.

“As a local home fragrance brand that started in a humble HDB flat, Amazon Global Selling has been instrumental in the transformation of our brand into a global 7-figure brand, enabling Pristine to reach customers in US, Canada and in Europe. Our hotel-inspired fragrances are well-loved by our Amazon customers, gaining more than 20,000 5-star reviews. We are excited to introduce new products on Amazon.com such as our car diffusers in Q4 this year. We hope to become an 8-figure seller by the end of 2025,” said Lincoln Thong, co-founder of Pristine, an Amazon global seller in the US, Canada, and UK.

Tailored breakout sessions to meet diversified seller needs

To address local sellers’ needs, this year’s Summit has three tracks in order to cater to the specific needs of the different types of sellers.

• Ready: For beginner sellers who are preparing to sell cross-border;
• Get Set: For intermediate sellers, who are readying the first shipment and planning the first sale;
• Go Global: for advanced sellers who are scaling, looking for sustained growth and building a global brand;

Day 1 of Summit on 11 October will focus on the know-how for cross-border selling on Amazon.com with a.m. sessions suited for sellers in the beginner stage and p.m. sessions for intermediate sellers prepping their launch. Day 2 offers more beginner-friendly a.m. sessions followed by advanced sessions in the p.m. for existing sellers aiming to better scale their business internationally and use Amazon brand tools to optimize conversion and customer retention.

At the Summit, Amazon Global Selling will also share about collaborations with local industry partners and discuss initiatives that will empower digital entrepreneurs to explore cross-border selling and brand building.

For more information and event registration, please visit: https://sell.amazon.com.sg/north-america/global-selling-summit-2023

Hashtag: #AmazonGlobalSelling

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HONG KONG SAR – Media OutReach – 29 September 2023 – Kerry Logistics Network Limited (‘Kerry Logistics Network’, ‘KLN’; Stock Code 0636.HK) is proud to win the Best 3PL Provider title for the eighth consecutive time and be named the Best Logistics Service Provider – Sea for the third time at the 2023 Asian Freight, Logistics and Supply Chain Awards (‘AFLAS Awards’) held in Singapore last night. KLN has held the Best 3PL Provider title since 2016 and has previously won the Best Logistics Service Provider – Sea accolade in 2013 and 2021.

Vic Cheung, Managing Director of Kerry Logistics Network, said, “We are delighted to continue our long-running streak as the holder of the AFLAS Awards titles, which are testaments to KLN’s consistent service excellence and unswerving commitment to serving our customers, particularly under unprecedented market conditions. In an ever-changing logistics landscape, KLN’s flexibility sets us apart, while our reliability strengthens our relationships with customers, which enables us to capitalise on potential market opportunities.”

Leveraging its sea freight capabilities, KLN maintained scale and volume in the Trans-Pacific trade lane in 2022. It has also been actively pursuing new market opportunities, including launching a global less-than-container load (LCL) programme to offer weekly direct LCL services from key Asian gateways to multiple country destinations across the globe, catering to the increasing demand for smaller-volume cargoes post-pandemic.

The AFLAS Awards have been organised since 1986 by Asia Cargo News, a shipping and supply chain industry news platform for the Asian Pacific region, to commend leadership as well as consistency in service quality, innovation, customer relationship management and reliability. The winners are nominated and voted by freight and logistics industry players and customers in the Asia Pacific.< >

Hashtag: #KerryLogisticsNetwork

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HONG KONG SAR – Media OutReach – 29 September 2023 – Lever Style Corp (“Lever Style,” HKEX 1346) today announced its global certification as a B Corp. The fast-growing multi-category apparel manufacturer joins an international movement of more than 7,300 purpose-led businesses that are certified B Corporations in 92 countries, including leading apparel/footwear companies such as Patagonia, Eileen Fisher and AllBirds. Lever Style is one of only 26 companies in HK with B Corp certification.

B Corp one of the world’s strictest ESG standards, and, Lever Style is verified by non-profit B Lab to meet high standards of social and environmental performance, transparency, and accountability. Lever Style’s scores across five areas ( Governance, Workers, Community, Environment and Customers) are published transparently here at bcorporation.net

“Lever Style has a long track record of advancing the ESG agenda in the apparel industry. We were the first apparel manufacturer in China to become certified for SA8000, one of the world’s strictest responsibility standards,” said Stanley Szeto, Executive Chairman of Lever Style. “Sustainability is not new to Lever Style; we were first apparel company in the world to partner with WWF on the Low Carbon Manufacturing Program in 2009, before sustainability was even a word.”

Lever Style recognizes the significance of sustainable practices and their impact on the future of the world. Pivoting the apparel industry towards a sustainable future has been a priority for the company, keenly observing and responding to the evolving demands of the low-carbon drive. Lever Style supports more than 100 clients with organic and recycled materials, environmentally friendly manufacturing facilities, and other sustainable best practices. From reducing samples with digital prototyping, sourcing recyclable and eco-friendly materials, to implementing ethical production practices, Lever Style strives to make fashion sustainable.

B Corp certification is not only a significant milestone and recognition of Lever Style’s progressive approach; it is also important to help build trust with consumers, communities, and suppliers; attract and retain employees; and draw mission-aligned investors.

Hashtag: #LeverStyle

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HONG KONG SAR – Media OutReach – 29 September 2023 – A recent survey conducted by Robert Walters Hong Kong, the global specialist professional recruitment consultancy, has found that over half of Hong Kong professionals are considering or planning to move out of the city. Of those surveyed, 15.6% expressed a desire to move as soon as possible, while 36.7% were considering a move in the next 3-5 years.

Among those who plan to work abroad, 51% age between 27 and 42 (Millennials), and 38% are 43-58 years old (Generation X).

John Mullally, Managing Director at Robert Walters Hong Kong comments, “The desire to work overseas and gain international experience is not new, especially among young people, but it’s concerning to see such a large percentage of Hong Kong professionals considering leaving the city.

“As employers, we need to ensure that we are doing everything we can to retain our top talent, and this means offering opportunities for growth and development, as well as competitive compensation and benefits packages.”

Professionals looking for opportunities in MNC

According to the survey, a whopping 96% of professionals who are planning to move overseas have already undertaken tactics to prepare for working abroad. The most popular tactic amongst these professionals was to look for a position in a multinational company, with 60% of the respondents opting for this.

On the other hand, 40% of those respondents who consider leaving the city are already applying for overseas jobs. 31% had started their plan by upskilling, training, or studying. Others are looking for internal mobility opportunities (27%) and switching career (27%).

John added. “On the positive side it is impressive to see professionals’ desire to gain international exposure in today’s globalised and competitive world. This can help them develop a broader vision, a stronger determination, and a richer network, which are valuable assets for any business.”

Retain talent at the time of economic uncertainties

Interestingly, when asked what they valued most in their career, 31% of these respondents who consider working abroad chose job security over compensation & benefits (29%) as their first priority. Besides job security and compensation & benefits, professionals care most about career progression, team culture and then internal mobility, which are essential for their personal and professional growth.

It is important for employers to understand the expectations of their employees in order to retain their top talent, especially during times of economic uncertainties. “Moving abroad is not an easy decision. If what professionals want is to gain international experience for career growth or broaden their minds, there are employers that can facilitate this.”, said John.

The poll was conducted among 107 Hong Kong professionals across various specialisations: accounting & finance, engineering & property, financial services, healthcare, human resources, legal & compliance, sales & marketing, supply chain, logistics & procurement, and tech & transformation.

Hashtag: #RobertWalters

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VIENNA, AUSTRIA – news aktuell – 29 September 2023 – The Old Masters auction at Dorotheum on 25th October 2023, will feature a rediscovered work on paper which has recently been identified as a late drawing by Raffaello Sanzio, called Raphael, the central artist of the High Renaissance.

< >The sketch, depicting a horse and rider, is one of the few known drawings by Raphael from his late period. The study is especially significant due its role within one of the most ambitious artistic projects of the 16th century: the decoration of the papal apartments in the Vatican. The drawing is a preparatory study for a part of the fresco of the Battle of the Milvian Bridge in the Hall of Constantine. The Stanze, known collectively as the ‘Raphael Rooms’ are regarded as amongst the most significant achievements of art history.

The drawing, executed in red chalk, provides fresh insight into Raphael’s working practice and an auction result in excess of a million euros is expected.

“Compositional and stylistic details confirm that this is a preparatory study by Raphael for the celebrated fresco”, Dorotheum’s Old Master specialist, Mark MacDonnell, says: “It has an energy, a verve, a movement, and a quality which make this sheet an outstanding rarity”.

The present study, a sketch in red chalk, is one of only three surviving drawings for this fresco by the master’s hand, the other two being in the Louvre and the Ashmolean Museum in Oxford.

This sheet has been held in private collections and was once previously attributed to Rubens. Now, through comparative analysis of technique and composition, this study of the horse and rider has been recognised to be Raphael’s own work.

Raphael did not live to see the completion of the fresco as he died in 1520, and his pupil Giulio Romano took over the final painting.

More information< >https://www.dorotheum.com/en/p/dorotheum-presents-a-rediscovered-raphael-drawing/

Video: https://www.youtube.com/watch?v=LGUTqbIkiqs

Hashtag: #Dorotheum

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HONG KONG SAR – Media OutReach – 28 September 2023 – Humansa, a premium healthcare brand of New World Group, and AIA, a leader in the insurance industry, today announced the official opening of AIA Alta Wellness Havenpowered by Humansa will be on 29^th Sept, 2023, marking the first one-stop integrated wellness space that blends the concepts of Chinese and Western health within the industry. AIA and Humansa, as industry leaders in insurance and integrated healthcare, are joining forces in a collaborative effort to address the health needs of AIA’s high-net-worth customers. The collaboration is aimed at addressing the health needs of AIA’s high net-worth customers, providing three major personalized solutions: mental, physical and nutritional and bespoke wellness solutions, as well as taking an innovative step in promoting preventive health management.

< >Located on the 20^th floor of New World Tower II in Central, AIA Alta Wellness Haven is designed, built and operated by Humansa as service provider. “Humansa is honored to be the exclusive partner of AIA to provide tailor-made one-stop integrated health management services to its high-net-worth clients,” said Don So, Chief Executive Officer of Humansa. “This collaboration not only meets the innovative needs of AIA Hong Kong, but also aligns perfectly with our vision of continuously improving our expertise, advanced technologies, and multi-disciplinary team of experts to provide mental, physical and nutritional health for our clients. AIA Alta Wellness Haven powered by Humansa’s wellness concept always puts the client’s well-being first, offering the highest quality of personalized health experience. This partnership not only instills confidence in our customers’ health journey, but also marks a significant milestone in the steady development of Humansa’s healthcare business.”

“We recognize that our high net-worth clients have a strong demand for one-stop wealth and health management services and want to achieve health and wealth ‘balanced life’,” said Ms Alice Liang, Chief Proposition Officer of AIA Hong Kong & Macau. “We have placed wellness within the core of our strategy for the HNWI segment and launched a key exclusive program AIA Alta Wellness Haven to complete our HNWI strategy, taking concrete actions to embrace health as a lifestyle. We aim to build an ecosystem of quality services integrating wellness, being the life partner in clients’ life stage, wealth and medical health, and realize AIA’s concept of a healthy, fulfilling lifestyle.”

Chinese and Western multi-specialty team tackles suboptimal health with tailor-made mental, physical and nutritional programs

Aiming at high-net-worth clients, who often suffer from suboptimal health status, a state between health and illness, due to stress and fatigue, AIA Alta Wellness Haven has set up a multidisciplinary team consisting of scientific-based Chinese and Western medical practitioners, nutritionists, physiotherapists, etc., which after in-depth understanding of the needs and conditions of the clients, will use the concepts of Chinese wellness in tandem with Western medical science to develop customized plans for mental, physical and nutritional wellbeing. A team of experts from various fields form a WellnessExpert team who will follow up the entire wellness treatment process.

< >AIA Alta Wellness Haven provides a wide range of professional equipment and services to suit the needs of the three major areas of mental, physical and nutritional care. For example, in the area of mental health care, Quantum Audio Therapy provides scientifically proven specific sound wave frequencies to help calm the mind and reduce anxiety, allowing clients to fall asleep easily and achieve a balanced body and mind. For physical health care, the center is equipped with an internationally patented radiofrequency (RF) cupping system, which utilizes radiofrequency to warm the muscles, increase blood circulation, and eliminate toxins; and in the area of nutritional care, specialists in various fields will analyze the body composition of clients and formulate personalized healthy dietary programs.

Humansa will continue to provide unparalleled healthcare services to corporate and individual customers in the healthcare industry, with nearly 40 healthcare centers in operation in the Greater Bay Area to meet the demand for quality healthcare.

AIA Alta Wellness Haven Service Overview< >

Hashtag: #Humansa

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MACAU – Media OutReach – 28 September 2023 – September 20, 2023, With only three days left until the opening of the Hangzhou Asian Games, the “Asian Games Mailbox” event has reached its final destination – Macau.

In order to promote the spirit of the Asian Games and allow the people of Asia to understand the Asian Games and China, the “Asian Games Mailbox” activity was organized under the guidance of the Hangzhou Municipal Party Committee’s Propaganda Department and the Zhejiang Provincial Government’s News Office, with the participation of local people in various countries and regions in Asia. Phoenix Satellite TV and Phoenix Net invited local people to write blessings for the Asian Games by hand.

The collection points for the “Asian Games Mailbox” in Macau were set up at famous tourist attractions such as Macau Tower, Ruins of St. Paul’s, Macau St. Dominic’s Church, and The Venetian. The news of the establishment of the “Asian Games Mailbox” in Macau had already spread a few days ago, and on the 20th, the crowd gathered quickly at the event site. The promotional brochures of Hangzhou were also well-received by people from various regions, allowing visitors to gain a deeper understanding of Hangzhou’s history, culture, local customs, and geographical features. At the same time, it raised higher expectations for the Hangzhou Asian Games.

The “Asian Games Mailbox” event in Macau, China, was primarily participated by local residents of Macau, both young and old, with radiant smiles on their faces. They enthusiastically placed their heartfelt wishes for the Hangzhou Asian Games into the mailbox, hoping for them to reach Hangzhou.

One elderly participant in the event, who was in his seventies, told reporters from the “Global Insights,” “After Macau’s return to the motherland, our culture and sports have reached new heights. The Hangzhou Asian Games is not only a sporting event but also a symbol of friendship and unity among all Asian countries. I hope the Hangzhou Asian Games will be successfully held, and our motherland will thrive and prosper.”

For this edition of the Hangzhou Asian Games, the Macau delegation aims to surpass their previous performance of 1 gold, 2 silver, and 2 bronze medals at the Jakarta Asian Games. The Macau delegation has made thorough preparations and will send a team of over 180 athletes to compete in 21 different events.

Pun Weng Kun, the director of the Sports Bureau of the Macau SAR Government, previously stated in an interview, “During this period, the athletes have been training intensively, and we believe they can showcase their abilities. We are confident about the Hangzhou Asian Games. We hope some of our athletes can contend for medals, and our young athletes can gain valuable competition experience.”

A young participant in the event wrote a beautiful wish on a postcard and also expressed to the “Global Insights” that he hopes sports can bring people together and resolve disputes, saying, “I hope athletes from the three regions can achieve excellent results on the field.”

With such wonderful wishes, the Hangzhou Asian Games officially commenced on September 23 at 20:00. Numerous letters filled with encouragement, blessings, and love will continue to arrive, including those from friends in the Hong Kong and Macau regions, overseas Chinese, and heartfelt wishes from foreign friends. Hangzhou will receive love from Asia and reciprocate with its own love to Asia.

Hashtag: #AsianGamesMailbox

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DCWA is among the seven co-located exhibitions of TECH WEEK Singapore, recognized as Asia’s most important technology event for business. Themed “Empowering the Digital Economy”, DCWA is designed to connect data centre professionals in Asia, industry’s top experts, thought leaders, and cutting-edge technology solutions. The exhibition addresses the latest data centre trends, challenges, and opportunities, offering an immersive experience to equip attendees with the knowledge, insights, and connections to stay ahead in this dynamic field.

As a leader in the automation industry, Azbil aims to leverage this event to strengthen connections with these key stakeholders in the data centre market, seeking to explore future business collaboration and increase recognition across Southeast Asia.

Hashtag: #datacentre #automation

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TAIPEI, TAIWAN – Media OutReach – 28 September 2023 – The wonderful street food, culture, history, and tourist attractions of Taiwan, not to mention the hospitality and friendliness of its citizens, are reasons that make visitors want to come back and visit Taiwan again! The number of international travelers to Taiwan has steadily increased since Taiwan eased its border controls and will likely reach 6 million visitors in 2023. To accelerate the tourism industry’s revival and establish Taiwan as the primary destination for travelers, the Tourism Administration, M.O.T.C has launched the “Plan to Accelerate and Expand Attraction of International Tourism ~ Taiwan the Lucky Land” campaign. Visitors staying between 3-90 days and who are not part of tour groups and have not applied for other group subsidies with this Bureau may enter to have a chance at winning the NT$5,000 in consumption vouchers.

< >During the campaign, Taiwan the Lucky Land will select 500,000 lucky independent travelers who will receive either an NT$5,000 “digital voucher” or an “accommodations voucher” that can be used within 90 days. Registration for the campaign lottery will continue until June 30, 2025. Various markets for visitors to Taiwan will also partner with us to offer other promotions.

On September 15, 2023, the Tourism Bureau will be elevated in status and become the Tourism Administration. It will provide even more amazing benefits, including coupons and gift cards for items such as coffee at convenience stores and products at drug stores. We will strive harder to revive tourism and create diverse, new ways to enjoy travel.

International travelers are invited to experience the various sights and delicious cuisine of Taiwan throughout the campaign period for a chance to win an NT$5,000 prize!

For more information, please visit this website: https://5000.taiwan.net.tw/index_en.html

^{(Advertisement by the Tourism Administration)}< >

Hashtag: #TaiwanTourismAdministration

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