Lanaken –
The closure of the Sappi paper factory cost hundreds of employees their jobs. But there is light at the end of the tunnel, because 126 people are already working in various sectors. “And 70 percent stayed in Limburg.”
Thursday, February 29, 2024 at 6:56 PM
More than 600 Sappi employees lost their jobs due to the closure of the company, and 420 were dismissed since January. To support them, the VDAB, Sappi, ACV, ABVV, Randstad RiseSmart, the municipality of Lanaken and Indufed have set up an employment cell. Ex-employees can go there for guidance towards new work. 368 dismissed employees have already received intensive guidance. With success, because 34 percent are back to work, most of them with a permanent contract.
Limburg success story
The 126 people who have found a new job are spread across all kinds of sectors. “Several now work at companies such as Vandersanden, Profel, Plukon and Farm Frites,” says Sandra Moranduzzo of Randstad RiseSmart. “A few dozen were also able to go to Sappi Maastricht, but approximately 70 percent continued to work in Belgian Limburg.”
It is very striking that two former employees opted for a serious career change. Randstad RiseSmart helped them find the suitable training. “Someone chose to train as a nurse, and someone else will train to become a train driver,” says Moranduzzo.
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Waves
Four more waves of dismissals will follow in the coming months, and these former Sappi employees can also contact the employment unit. “Initially we ensure that they can come to terms with the dismissal and that they follow the grieving process. When we’re done with that, we look at reorientation, learning new skills and much more. We work very practically with ex-employees: from drawing up a CV to coaching them in negotiating their wages. Once they have found a job, they will continue to receive guidance for a while. This way we can see whether they fit in well with their new employer. So they are definitely not alone.”
READ ALSO: Last working day for more than a hundred Sappi employees: “Maybe I will stand in front of the classroom now”
One in three dismissed Sappi employees has a new job (Lanaken)
“Sea Ltd. Reports Better-Than-Expected Earnings, Boosting Prospects for E-Commerce and Gaming Businesses”
Sea Ltd., Southeast Asia’s largest internet firm, has reported better-than-expected earnings for the fourth quarter of 2023, boosting prospects for its e-commerce and gaming businesses. The company posted $126.7 million in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), a decline of 74% from the previous year but still higher than the $88 million analysts had predicted. Sales also exceeded estimates, rising 4.8% to $3.6 billion.
The results are particularly significant for Sea’s online retail arm, Shopee, which has been facing tough competition from rivals such as TikTok and Lazada. TikTok recently restarted its shopping app in Indonesia after forming a partnership with GoTo Group’s e-commerce unit Tokopedia, posing a threat to Shopee’s dominance. However, Sea’s strong earnings report indicates that Shopee is still attracting buyers as online shopping gains popularity in the region.
Sea’s e-commerce gross merchandise volume (GMV), which measures the value of goods sold, increased by about 29%, surpassing analysts’ predictions of 23%. The company expects the division’s GMV to grow in the “high teens” this year, and its EBITDA to turn positive in the second half of the year. Chief Financial Officer Tony Hou mentioned on a conference call that Sea has seen a more stable competitive landscape in recent quarters and has been able to gain market share while improving its unique economics.
Sea’s gaming arm, Garena, has also performed well due to sustained demand for its hit title Free Fire. Last month, Free Fire reached over 100 million peak daily active users, and Sea anticipates double-digit growth in users and bookings for the game this year. However, the gaming division’s fourth-quarter revenue fell by 46.2% to $510.8 million, highlighting the importance of new blockbuster hits for sustained revenue growth.
To combat intense competition, Sea’s CEO Forrest Li plans to increase investments in Shopee, particularly in its live-streaming arm. This offensive move may erode margins and trigger a price war with TikTok and Alibaba but is seen as necessary to defend the company’s market share. Sea embarked on a cost-cutting drive in 2022 to achieve profitability, freezing salaries and cutting expenses. The strategy proved successful, and the company achieved positive cash flows.
Analysts believe that Sea’s re-acceleration of investments in Southeast Asian e-commerce is essential to maintain its market share against competitors such as TikTok Shop and Pinduoduo’s Temu. This move is expected to drive sales growth and offset the deliberate slowdown to achieve breakeven. However, it may also put pressure on profit, especially as digital banks ramp up their efforts.
Sea’s stock has been performing well following the earnings report, with shares climbing about 13% in pre-market trading in New York. After experiencing significant declines over the past two years, the stock is up 26% so far in 2024. The positive trends in growth and profitability across all three of Sea’s businesses have further bolstered investor confidence in the company’s future prospects.
Overall, Sea Ltd.’s better-than-expected earnings report and optimistic outlook for its e-commerce and gaming businesses indicate a positive trajectory for the company. With strong sales performance, market share gains, and strategic investments, Sea is well-positioned to navigate the competitive landscape and capitalize on the growing popularity of online retail and gaming in Southeast Asia.
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SET Reveals Daily Trading Information Through Trading Programs: March 4, 2024
- March 4, 2024
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Reporters said today (4 March 2024) Stock Exchange of Thailand (SET) Reveal daily trading information through Trading Programs or “Robot Trading Program” There is a purchase value of 18,801.78 million baht and a sale value of 19,297.62 million baht, which is equal to a net sale of 495.84 million baht.
While the daily trading value through Non-program Trading or “non-program trading” has a purchase value of 23,540.58 million baht and a sale value of 23,044.74 million baht, which is equal to a net purchase of 495.84 million baht.
Combining the daily trading value through Program Trading and Non-Program Trading, the total net buying value is 42,342.36 million baht and the total net selling value is 42,342.36 million baht, while the trading value on the stock exchange today (4 March 2024 ) is 40,355.59 .Million baht
However, when today’s trading orders through Program Trading are compared to the trading value of the entire stock exchange today at 40,355.59 million baht, it is found that the trading volume accounts for approximately 44.98% of the trading value of the entire Thai stock market today. .
In addition, the SET also reports information on the top 10 securities using Program Trading, sorted by percentage (%) of Program Trading value compared to Auto Matching trading value, including CBG , ONEE, SAFE, CV, XO, MCA, TGE. , ZIGA, NL, TVT
#Robot #Trading #stocks #exciting #today #CBG #trades
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SET Reveals Daily Trading Information Through Trading Programs: March 4, 2024