July 8, 2022 – Page 4 – Asean Tribune

July 8, 2022

General Fusion Names Greg Twinney as Chief Executive Officer

Greg Twinney, Chief Executive Officer, General Fusion

General Fusion announced today that its Board of Directors has appointed Greg Twinney to the role of Chief Executive Officer.

VANCOUVER, British Columbia, July 07, 2022 (GLOBE NEWSWIRE) — General Fusion announced today that its Board of Directors has appointed Greg Twinney to the role of Chief Executive Officer, effective immediately. Greg succeeds Christofer Mowry, who has resigned after serving as General Fusion’s Chief Executive Officer for more than five years, leading the company through the successful transition from research and development to technology demonstration.

“We would like to thank Chris for his commitment and service to General Fusion. During his tenure, Chris led the company through the development and siting of our Fusion Demonstration Plant and recruited a world-class management team, successfully positioning the company for its next phase of demonstration and commercialization,” said Klaas de Boer, Chairman, General Fusion. “As General Fusion continues to grow, we are confident in Greg’s ability to bring together the team, strategy, and discipline to execute the company’s plan to deliver our practical commercial fusion energy technology to the global power decarbonization market.”

“After two years working with Chris as Chief Financial Officer, I am excited to take on this opportunity to continue our work to transform the energy industry. Chris’ leadership was instrumental in helping build General Fusion into a global organization that is now widely recognized as a leader in fusion energy, cultivating the broad partnerships required to make commercialization of this technology a reality,” said Greg Twinney, Chief Executive Officer, General Fusion. “Working together with these global partners, we will continue to grow our team to demonstrate General Fusion’s game-changing Magnetized Target Fusion technology and support our commercialization efforts. It is a privilege to lead the talented team at General Fusion as we work toward providing abundant and affordable clean fusion energy by the early 2030s.”

Greg previously served as General Fusion’s Chief Financial Officer, and in 2021, led the team through a successful oversubscribed Series E financing round. Greg brings two decades of experience driving a variety of new and disruptive technologies from idea to commercialization having led multiple organizations through focused, rapid growth, both operationally and strategically. His leadership has realized strong stakeholder value creation for companies rapidly scaling to commercialization, including management of IPOs, mergers, and acquisitions. Previously, he served as the Chief Financial Officer and Chief Operating Officer of several world-leading technology companies, including Hootsuite, Real Matters, Kobo, Opalis, and Cyberplex.

About General Fusion
General Fusion pursues a fast, efficient, and collaborative path to practical fusion power. We are completing an aggressive development plan to deliver economical carbon-free fusion energy with our proprietary Magnetized Target Fusion technology by the 2030s. Our mission is supported by a global syndicate of leading institutional investors, venture capital firms, and technology pioneers, together with governments across North America and Europe. General Fusion collaborates with a global network of partners to create a sustainable future built on cleaner energy, better materials, and a comprehensive life cycle approach to the world’s infrastructure. Founded in 2002, we are headquartered in Vancouver, Canada, with additional centers co-located with internationally recognized fusion research laboratories near London, U.K., and in Oak Ridge, Tennessee, U.S.A. Learn more at www.generalfusion.com.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f0b1916e-2a07-4689-8acf-70acd70777a6

July 8, 2022

Matterport Acquires VHT Studios to Accelerate Adoption of Digital Twins for Real Estate

The combined company expands Matterport Capture Services by bringing together the industry-best of Matterport digital twins and floor plans with professional photography, drone capture, and marketing services

SUNNYVALE, Calif., July 07, 2022 (GLOBE NEWSWIRE) — Matterport, Inc. (“Matterport”) (Nasdaq: MTTR), the leading enterprise and real estate digital twin company driving the digital transformation of the built world, today announced the acquisition of VHT, Inc., known as VHT Studios, a U.S.-based real estate marketing company that offers brokerages and agents digital solutions to promote and sell properties. This transaction brings together VHT Studios’ visual media services with the immersive Matterport 3D Digital Twin platform to elevate the buying experience for home buyers while simplifying the process of creating comprehensive marketing packages for brokers and agents. With this acquisition, Matterport aims to increase adoption of digital twin technology and expand further into the real estate industry while adding marketing services for other key markets such as commercial real estate, travel and hospitality, and the retail sector.

Matterport’s acquisition of VHT Studios provides real estate brokerages and their professionals access to an expanded selection of marketing services and expertise they need to effectively market and promote properties. These include high-end photography, drone imagery, floor plans, virtual tours, and other marketing services. When combined with Matterport digital twins and collaboration tools, the newly expanded solution not only helps brokerages and agents save time with an easy-to-order and comprehensive source for their digital marketing needs but also reduces their costs with comprehensive marketing packages along with flexible, optional add-ons. This all-in-one marketing solution provides one of the richest and most compelling digital experiences for property seekers and has been proven to drive increased sales for brokerages and agents.

“We’re thrilled to welcome the VHT Studios team to Matterport along with the talent and industry expertise they bring,” said RJ Pittman, Chief Executive Officer at Matterport. “When we looked at VHT Studios and the work they do, it was a natural fit to unite our efforts to reimagine the fragmented process that was in place for brokers and agents to list properties, and prospective buyers to view them. We are not only excited for how we can transform the customer experience in the real estate industry, but also how we can apply VHT Studios’ expertise to our growing enterprise business as demand for digital twin technology continues to surge.”

“We are excited to welcome VHT Studios, a market leader in real estate digital marketing technologies, to Matterport today. While we make strategic investments to expand our business, we remain committed to conscientiously managing our balance sheet of approximately $600 million in cash and short- and long-term investments as of March 31, 2022. Further, having integrated the Enview acquisition earlier this year, our team is looking forward to what we expect will be another successful integration,” said JD Fay, Chief Financial Officer of Matterport.

“What makes this acquisition unique is how complementary our services are to one another,” said Brian Balduf, CEO of VHT Studios. “In today’s market, buyers need to move quickly on a property and often only have one opportunity, or less, to view it in person. A listing that features high-quality digital content and immersive 3D technology is a transformative experience that empowers buyers to make more confident decisions, faster. Together we believe our services can help move more purchase decisions online by combining rich property information and the ability to virtually inspect, measure, and experience a space from anywhere, anytime, as many times as needed.”

The all-in-one marketing solution that brings together VHT Studios’ and Matterport’s services is expected to be available through Matterport’s Capture Services during the third quarter this year. The acquisition will enable more data to be trained on the machine learning systems acquired through Enview and whose data insights will be incorporated into Matterport’s Cortex Artificial Intelligence engine.

VHT Studios has helped more than 200,000 real estate professionals sell more than $200 billion in properties since the company’s founding in 1998. Seven of the top 10 brokers¹ in the United States are customers of VHT Studios, including Baird & Warner, Coldwell Banker, Compass, Corcoran Group, Douglas Elliman, and more.

Terms of the transaction were not disclosed. Canaccord Genuity served as the exclusive financial advisor to VHT Studios.

About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at Matterport.com and visit our Discover page to browse a collection of digital twins captured by our customers.

Media Contact:
Patrick Santucci
Communications
press@matterport.com

Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services and products offered by Matterport and VHT Studios, and the markets in which Matterport and VHT Studiosoperate, their respective business strategies, expected synergies related to Matterport’s acquisition of VHT Studios, current and potential customers, and industry environment. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected impacts and benefits of Matterport’s acquisition of VHT Studios, including any accelerated datafication of Matterport’s platform, the capabilities and performance of VHT Studios visual media services and their use by existing and future customers, and Matterport’s ability to integrate VHT Studios’ visual media services and business into Matterport’s existing business and operations. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.

¹ Reference source used for this statement is www.RealTrends.com in relation to brokerage sales volume for 2021.

July 8, 2022

No amnesty for Vietnamese ‘anti-state’ prisoners this year

Vietnam’s annual September 2 National Day amnesty will not include anyone jailed for anti-state charges according to President Nguyen Xuan Phuc. A presidential spokesperson announced his decision on who to consider for early release at a Monday news conference, state-controlled media reported.

This year’s amnesties will be granted to those sentenced to long or lifetime terms who will still be serving their sentences on August 31.

The long list of charges not to be considered rules political prisoners out of the running. The exclusions include people charged with national treason; activities aimed at toppling the government; spying; trespassing on national security sites; and violence and terrorism against the State. Other cases ruling out release include sabotaging the material and technical foundations of the State of Vietnam; making, storing, disseminating or propagating information, documents and items aimed at opposing the State; disrupting security; attacking or damaging detention facilities; and terrorism. Crimes against peace and humanity, and war crimes are also on the list of who to exclude from the presidential pardons.

RFA statistics show that Vietnam has arrested at least 12 dissidents from the start of the year through to Tuesday with five found guilty of conducting anti-state propaganda and sentenced to between five and eight years. The charges stem from crimes listed in the National Security provisions of the Criminal Code. These include “abusing democratic freedoms” under Article 331 of the Criminal Code 2015 and “conducting propaganda against the state” under Article 88 of the Penal Code 1999 or Article 117 of the Criminal Code 2015.

Last year at least 32 people were found guilty of posting opinions critical of the government, according to Human Rights Watch. It said at least 26 others were arrested on fabricated political charges.

In its World Report 2022 the independent pressure group was scathing in its criticism of the Vietnamese government and Communist Party.

“Vietnam systematically suppresses basic civil and political rights. The government, under the one-party rule of the Communist Party of Vietnam, severely restricts freedom of expression, association, peaceful assembly, movement, and religion,” it said.

July 8, 2022

Junta bid for Russian deal to address Myanmar’s energy shortages faces hurdles

Myanmar’s junta is in talks with Russia to address the country’s fuel and electricity shortages, although inking a deal may be difficult amid Western sanctions and other obstacles, according to observers.

A junta delegation attended the June 15-18 International Economic Forum in St. Petersburg, Russia, that included Myanmar’s ministers of electricity and energy, international cooperation, planning and finance, investment and foreign trade, economy and trade, and the deputy governor of the central bank.

According to a June 20 report by the pro-military Myanmar Alin Daily, the delegation met with Russian Minister of Energy Shulginov Nikolay on the sidelines of the forum to discuss energy cooperation. During the meeting, the two sides held talks on Russian oil drilling in Myanmar and the export of oil and petroleum products, as well as the construction of a nuclear power plant, it said. They also discussed the possibility of direct exchanges of currencies between the two countries’ central banks and the purchase of fuel from Russia.

In May, the junta announced that Russia would soon begin participating in Myanmar’s energy industry in place of international companies that quit, in response to the exit of three big Asian firms from a gas field in the nation a month earlier, citing commercial reasons. At least one of the three – Japan’s ENEOS – also mentioned Myanmar’s “current situation, including the social issues” as one of the reasons for quitting, referring to human rights excesses by the military that have led to the deaths of at least 2,069 civilians since a Feb. 1, 2021 coup.

Speaking to RFA Burmese on condition of anonymity, a businessman with knowledge of Myanmar’s energy sector said that cheaper fuel imports from Russia could reduce the cost of high-priced commodities in the country that are the result of Western sanctions over the takeover and the junta’s subsequent crackdown on its opposition.

“If we can buy cheap oil from a country that produces a lot of oil and gas, it’d benefit our energy sector and it’ll be good for energy security,” the businessman said.

“I think we might also get a break from the high costs of food and consumer goods.”

More than 17 months after the coup, Myanmar is mired in political and economic turmoil, while life is increasingly difficult for average people due to the rising cost of food, as well as regular power and water shortages.

Even in Myanmar’s commercial capital Yangon, which is home to an estimated 7 million people, sources say power is cut off twice in every 24-hour period, with homes sometimes left dark for six hours each day. Only the capital Naypyidaw, where the country’s military junta is based, has enjoyed uninterrupted electricity since the overthrow of civilian rule.

A difficult deal

Myanmar-based political analyst Than Soe Naing said the junta is only in the beginning phase of negotiations with Russia to deal with its ongoing energy crisis and will need to overcome several obstacles before moving towards an agreement that will solve its problems.

“Cooperation with Russia over a nuclear program is unlikely without China’s support. In addition, the junta, which is facing a foreign exchange crisis, cannot afford to spend money on nuclear energy,” he said.

“The main purpose of [the junta attending] this business forum was to seek help as a way to resolve the current oil crisis in Myanmar. I think they are looking for a way to get engine oil and fuel. But it is unlikely that anything more than that would happen.”

Than Soe Naing said it will be difficult for Myanmar to secure the help of Russia, which is itself facing sanctions as well as an economic downturn related to its invasion of Ukraine.

Amid the sanctions, the Kremlin has been forced to improve relations with countries in the Middle East, as well as China and India, in a bid to find new markets for its oil and natural gas. Myanmar, which has seen its fuel prices skyrocket as a result of Western sanctions, is one prospective buyer of said Russian exports.

However, a source in Yangon, who also declined to be named for security reasons, said he doubts that the junta’s claims of cooperation with Russia will end Myanmar’s energy shortages.

“The junta has said a lot about many things. For instance, they said they will produce electric cars and electric trains as soon as possible,” said the source, who also has ties to Myanmar’s energy sector.

“Nothing has happened since they seized power. In fact, our people see these promises as daydreams.”

A car is refueled at a gas station in Yangon, in a file photo. Credit: RFA

Seeking fuel imports

Sources from Myanmar’s fuel industry have told RFA that companies close to the son and daughter of junta chief Snr. Gen. Min Aung Hlaing are in the midst of negotiating import deals with Russia, although the claims could not be independently confirmed.

RFA contacted Win Myint, secretary of the Myanmar Petroleum Importers and Distributors Association, seeking comment on the junta’s alleged attempts to purchase fuel from Russia, but he declined to discuss the issue.

Oil traders say that even if Myanmar, which normally imports through Singapore, could buy fuel at a cheaper price from Russia, the cost of transporting it would essentially negate any discount.

Another member of Myanmar’s business community told RFA that, despite ongoing political instability, the junta must find a way to end the country’s energy shortages if it hopes to cling to power.

“It is true that there is instability. Global politics are unstable … but people have to go on with their lives. They are struggling to survive. All nations must have food and energy security,” he said.

“The Ukraine conflict has been going on for four or five months, while the crisis in our country has continued for more than a year. We cannot stop our lives because of these problems. So we must find a way out.”

Translated by Khin Maung Nyane. Written in English by Joshua Lipes.