Midea Breaks into Fortune 500

Transcription

Advances Fusion, July-August, 2016
Vol. 6, #6, July-August 2016, No. 60
Midea Breaks into Fortune 500
Midea Group entered the Fortune Global 500 for the first time, ranking #481
1
www.midea.com
ADVANCES
Contents
NEWSLINE
Midea Enters Global Fortune
500 Page 3
Toshiba, Midea Complete
Transfer of Toshiba
Appliances Business PAGE 9
First Brand Store in Moscow
2 Products Named Best of the
Best in Germany PAGE 10
PAGE 4
Chiller Installed in Tajikistan
Ministry of Foreign Affairs
Profit up 14% Year-on-Year
PAGE 10
KUKA
Midea Announces Results of
Kuka Takeover PAGE 13-14
FUSION
Land of Caves and Ancient
Trade Routes PAGE 15-18
PAGE 5
German Certification PAGE 5
IoT Relationship with
Californian Network PAGE 6
Cooperation with Jordanian
Princess PAGE 7
Brand Merges with Springer
in Brazil PAGE 11-12
From Stravinsky to
Solzhenitsyn PAGE 19-22
Feature in Brazil’s Largest
Finance Paper Page 12
Midea Climbs the Forbes 500
PAGE 8
Workers Volunteer in FloodHit Areas PAGE 8
Midea Advances Newsletter is published monthly
by Midea International Business. We welcome all
comments, suggestions and contributions of
articles, as well as requests for subscription to our
newsletter. You can reach us by phone at (0086)
15014690097
Or by email at: [email protected]
Quote of the
Month:
“In business,
what’s dangerous
is not to evolve.” Jeff Bezos
Address:
ADVANCES, Midea International Business
Midea HQ
No. 6 Midea Road
Beijiao, Shunde, Foshan, Guangdong
P.R.C. 528311
Web: www.midea.com/global
2
NEWSLINE
Midea Enters Fortune Global 500
By Midea
M
idea became the first company from the Chinese household appliances
industry to enter the Fortune Global 500
list, when the updated ranking of the
world's largest corporations was announced
on
July
20,
2016.
Midea debuted at 481st after a strong 2015
that saw the company achieve US$22.17
billion revenue, and total profit of US$2.02
billion, representing a 21 percent year-onyear increase.
"In 2015 the global home appliances
industry faced more challenges, and Midea
was able to fly upwind by adhering to the
strategy of developing cutting-edge products, improving efficiency and emphasizing global operations." said Andy Gu, Vice President at Midea Group.
Midea has invested US$3 billion in research and development over the past five years and now operates R&D institutes in China, the United States, Japan, Germany, Italy and
Singapore, integrating global resources to drive technological
breakthroughs. This is in addition to an US$1.04 billion investment in improving automation which has resulted in an
average current automation ratio of 17 percent.
So far in 2016, Midea has acquired Toshiba's home appliance business, and is in the process of acquiring German
industrial robotics group Kuka AG and Italian air-conditioning
manufacturer Clivet. Midea's global strategy is to switch from
traditional product exportation from China to operating locally
in key markets.
Midea's global platform now operates more than 200 subsidiaries and 9 strategic business units, and the company runs
seven full-scale operations covering R&D, manufacturing and
sales in 6 countries including Vietnam, India, Belarus, Egypt,
Brazil and Argentina. Midea products are sold in more than 200
countries and regions worldwide.
The company also landed several high-profile projects in
2015, including winning the bid to
install central air-conditioning in
the stadiums for sports games in
Brazil.
"Midea is dedicated to helping
people rediscover what home
means, in a surprisingly friendly
way," said Brando Brandstaeter,
Head of Brand & Communication
of Midea International Business.
"In the future, Midea will become
a conglomerate focused on smart
home appliances and intelligent
manufacturing."
3
NEWSLINE
First Brand Store in Moscow
By Ekaterina Korablyova
M
idea held the grand opening of its first brand
store in Moscow, Russia on July 21, a major move to further
expand the company's brand and products in the Russian
market.
The Moscow brand store, located in Techno Mall Gorbushkin Dvor, Bagrationovski Proezd, 7 is Midea's second
store in Russia. With an area of 90 square meters, the store is
open daily from 10:00-21:00 and brings comprehensive modern home appliance products including microwave ovens,
hoods, hobs & ovens, dishwashers, and vacuum cleaners to
Russian consumers at reasonable prices. Qualified counselors
will help customers choose the appliances that meet all de2016, and this amount is expected to reach two million
by 2020.
To ensure that its innovative products are reliable and
time-tested, Midea adopts strict quality control
measures and has also established an after-sales service
network of 266 authorized service centers across Russia.
"It is our goal to bring comfort and warmth to the
home by introducing our home and kitchen appliances
to
our
customers
in Russia,"
said Ekaterina Korableva,
Midea
brand
manager in
Russia. "Midea is
helping people rediscover the modern concept of
'home' and contributing to people
being able to enjoy
every
moment
spent at home."
mands and arrange delivery and installation after purchase.
Midea's long-term strategy in Russia is to develop a large
retail network that not only collaborates with major federal
and regional retail chains such as M.Video and Poisk, but also
operates exclusive brand stores to improve its recognition
among Russian consumers.
With sales of 25,000 units in 2012, Midea has been expanding in Russia and has become the third largest in the
country. According to Alexey Obukhov, general director of
Midea Russia, the company has already sold 675,000 units in
4
NEWSLINE
Chiller Installed in Tajikistan Ministry of
Foreign Affairs
By CAC
M
mized system design
and enhanced heat
exchange
efficiency
ensure the units work
seamlessly
under
both
full
load and part load.
Last year CAC’s water-cooled screw chiller was
also installed in the office building of Tajikistan’s Prime Minister. Other locations at
which the product has been installed by Midea
CAC include the All Season Nusa Dua Resort
Hotel in Indonesia; Mumbai Little World
Shopping Mall; and Terminal 3 at Beijing Airport.
idea Commercial Air Conditioning (CAC) has installed a water-cooled screw chiller in Tajikistan’s Ministry of
Foreign Affairs Building. Located in Dushanbe, the building has
completed the installation, boasting a capacity of 1,480 kW.
Midea water-cooled screw chiller
operates with a flooded-type evaporator
and a high-efficiency compressor. Opti-
German Certification
By Ma Songwu
T
training
course
on
performance
measurement.
Headquartered in
Frankfurt,
the VDE is
one of the
largest technical and scientific associations in Europe with more
than 36,000 members. This training and certification will greatly
aid the Kitchen Appliances Division’s future endeavors in Europe.
he Association of German Electricians (VDE) certified Midea’s Kitchen Appliances Division after completing the
Test
Data
Acceptance
Program
from July 1828. At the
same time,
VDE experts
Rainer Brenk
and Thorsten
Rosenbaum
carried out a
5
NEWSLINE
IoT Relationship with Californian
By Kevin McGeary
Network
M
idea Group has
selected the Ayla Networks
Internet of Things (IoT) platform as its preferred overseas
IoT cloud partner for all its
connected HVAC products.
Midea joins other top HVAC
manufacturers in using Ayla
services.
―The Ayla IoT platform now
powers four of the top 10
HVAC manufacturers in China, which is powerful testimony to Ayla’s IoT leadership and
market position,‖ said David Friedman, CEO and co-founder
of Ayla Networks. ―Midea is an enormously successful and
future-thinking enterprise, and we look forward to helping
them become a dominant player in the global smart home
market.‖
―Midea Group laid out its concept for the smart home a
long time ago and has established Midea Smart Home Technology Co., Ltd., to focus on the development of that business,‖ said Li Qiang, general manager of Midea Smart Technology. ―This cooperation with Ayla is a major step in the
international expansion of Midea Group’s smart home business. As Midea’s third-party cloud platform partner for overseas markets, Ayla will join with Midea to create a globalized
structure of intelligent services for smart homes.‖
Midea Group’s
relationship with
Ayla Networks is
through its Midea
Smart Technology business unit.
Established
in
2014 under the
name of Midea
Smart
Living
Lab, Midea Smart
Technology
is
working to inte-
grate all Midea technologies and products lines to become a
total solution provider for the smart home industry.
Midea Smart Technology’s M-Smart System supports diversified smart product inside the nearly 50-year-old Midea
Group. In addition, Midea Smart Technology is building an MSmart ecosystem that will provide smart products and solutions
to a wide range of business-to-business (B2B) and business-toconsumer (B2C) enterprises. Already, Midea Smart Technology’s ecosystem includes Ali Cloud, Amazon, Huawei, IBM,
LeTV, TCL, Tencent and Xiaomi.
About Ayla
Ayla Networks empowers leading manufacturers by simplifying the inherent complexity of the Internet of Things (IoT),
enabling them to turn their products into smart connected systems and transform their businesses to compete in the gamechanging world of connectivity. Delivered as a cloud platformas-a-service (PaaS), Ayla’s Agile IoT platform provides the flexibility and modularity to enable rapid changes to practically any
type of device, cloud or app environment. Ayla Networks was
named a 2015 Cool Vendor in the Internet of Things by Gartner, Inc. Ayla’s investors include 3NOD, Acorn Pacific, Ants
Capital, Cisco, Crosslink Capital, the International Finance Corporation, Linear Venture, Mitsui, SAIF Partners, SJF Ventures
and Voyager Capital.
For more information, visit www.aylanetworks.com
6
NEWSLINE
Cooperation with Jordanian Princess
By Justin Li
M
supplying and servicing
in HVAC field in the
region market, where
more than 700 VRF
projects installed with
total capacity above
16000 RT. Working
closely with the PAF
can help Midea further
Jia Wei shows the princess around
its reputation in the Middle Eastern country.
On May 23 Princess Alia visited Midea’s training college in
Jordan. Midea’s Regional Director Jia Wei showed her around
as representatives of the country’s major media organizations
looked on. As a sign of its commitment to contributing positively to Jordanian society, Midea donated 20 Mission Split Inverters to a school that is funded by the PAF. This donation is a
sign of things to come.
Due to the quality and reliability of its products, Midea
overcame competition
from Japan, Korea,
Europe and North
America to land the
air conditioning project for the Aqaba
Saraya project. The
project is a premier
hospitality and leisure
destination built around a 1.5 kilometer lagoon. Saraya Aqaba
includes a variety of luxurious residential units, World-class
hotels, signature retail shops, international restaurants, a Water
Park, a beach club and an amphitheater, along with other leisure
and business venues within an authentically styled ancient Arabian city.
The PAF was founded by H.R.H. Princess Alia Al Hussein and is a registered non-profit, non-governmental organization, under the Ministry of Social Development in the Hashemite Kingdom of Jordan. Its aim is to promote compassion
and respect for all, using a holistic approach and bringing all
stakeholders together to work as a united front.
idea welcomed four representatives of the Princess of Jordan on July 25. The four students are here on a
solar power project funded by the Princess Alia Foundation
(PAF) after coming in the top three in a design competition
for buildings that use green energy sources.
Their trip to China took in both Huawei and Midea,
after Midea donated 10 solar-powered air conditioners to their
school. During their
five-day visit, Midea
gave them a varied and
memorable trip, helping them understand
more
about
the
Group’s products and
manufacturing process.
As soon as they arrived
at the Group headquarters, they were immediately struck by
the building's unique design and the greenery and fishponds
that surround it. They were then shown around the product
showroom and history museum.
Midea’s technical support team then gave an introduction to the technology that the Group uses. This gave the
students a lesson in how much work and skill are required to
make air conditioners easy to use.
They were also shown around Midea’s factories in Shunde and Chancheng, near the global headquarters. The students
were then talked through some of Midea’s recent mergers and
acquisitions, including the ones related to automated technology, which will form the future of manufacturing. In fluent
English, some of Midea’s intake of new graduates talked them
through Midea’s vision for the future.
Digital AC Company (DAC) in Jordan represent Midea
A/C products,
DAC is owned
by
Al-Asalah
for Electromechanics, which
has more than
20 years of experience both
7
NEWSLINE
Midea Climbs the Forbes 500
By Kevin McGeary
L
Last
year was a
challenging
one for the
industry,
with key
markets
encountering political
and
economic
instability.
In spite of
this, Midea Group’s profit saw a 21 percent increase year-onyear.
The Forbes Global 2000 is a useful indicator of which are
the leading public companies in the world. It has been published every year since 2003.
ast year Midea Group entered the top 500 in The
Forbes Global 2000 for the first time. The criteria for the list
include sales, assets, profit and market value, and this year saw
Midea rise from 436th to 402nd.
In sales, the Group is 389th (up from 408th) and in profit
it is 307th (up from 418th). It is again the highest ranked home
appliances business on the list.
Workers Volunteer in Flood-Hit Areas
By MIB
M
of volunteers with
truckloads
full
of
packages
to nearby
flood-hit
areas
in
the
first
week
of
July.
As
millions
were evacuated from their homes, the volunteers have helped
the army deliver supplies to victims.
idea’s Residential Air Conditioning (RAC) factory
in
Wuhu
City
in
South
China’s
Anhui
Province
sent
teams
8
NEWSLINE
Toshiba, Midea Complete Transfer of
Toshiba Appliances Business
Press Release
M
diversified product offering, encompassing air-conditioners,
refrigerators, laundry appliances, kitchen appliances and various
small home appliances. Midea is committed to build a better
life and become the world’s Midea by adhering to the principle
of ―Creating Value for Customers‖. Midea is focused on continuous technological innovation to improve product and service quality, to make life more comfortable and pleasant.
Founded in 1968 in Guangdong, China, Midea has now
established a global platform of more than 200 subsidiaries and
9 strategic business units. Midea had total revenues of over
US$21 billion in the fiscal year ended December 31, 2015 and
approximately 100,000
employees worldwide.
To find out more about
Midea, please visit
http://
www.midea.com/
global
idea Group Co., Ltd. (SZSE: 000333, ―Midea‖)
announced June 30 that they had completed the previously announced transaction to acquire Toshiba’s Home Appliances
Business.
―Today marks another important milestone in the strategic partnership between Toshiba and Midea, which will bring
benefits to our customers, employees, suppliers and partners,‖
said Mr. Paul Fang, Chairman and President of Midea, ―We look
forward to leveraging on our complementary resources and capabilities to fully realize the potential of the partnership. We
believe our continuous investment in the
brand,
technology,
marketing and people
and unwavering commitment to product
quality will enable us
to serve our customers better and create
more value for the
society. To our home
appliance customers,
Toshiba brand will
continue to be synonymous with excellence, reliability and
innovation.‖
As previously announced on March 30, 2016, Toshiba and
Midea had entered into a Definitive Agreement (―DA‖) to transfer 80.1% stake in Toshiba Lifestyle Products & Services Corporation (―TLSC‖). As of June 30, 2016, all the condition precedents of the DA has been satisfied and the relevant regulatory
approvals have been obtained. The transaction price for the
80.1% stake was determined at JPY51.4 billion (c.US$500 million).
About Toshiba
Toshiba Corporation, a
Fortune Global 500
company,
channels
world-class capabilities
in advanced electronic
and electrical product
and systems into three focus business fields: Energy that sustains everyday life, that is cleaner and safer; Infrastructure that
sustains quality of life; and Storage that sustains the advanced
information society. Guided by the principles of The Basic
Commitment of the Toshiba Group, ―Committed to People,
Committed to the Future‖, Toshiba promotes global operations
and is contributing to the realization of a world where generations to come can live better lives.
Founded in Tokyo in 1875, today’s Toshiba is at the heart
of a global network of over 580 consolidated companies employing 199,000 people worldwide, with annual sales surpassing
6.6 trillion yen (US$55 billion). (As of March 31, 2015.)
To find out more about Toshiba, visit www.toshiba.co.jp/
index.htm
About Midea
Midea is a global leading consumer appliances and heating,
ventilation and air-conditioning (HVAC) systems business, with
9
NEWSLINE
By MIB
2 Products Named Best of the Best in
Germany
E
culate from the weight of the clothes how much detergent is
needed. With its transparent top loading lid, it is particularly
friendly to the elderly consumer.
veryone who was anyone in international design was
in Essen, Germany on July 4 for the Red Dot Awards. In spring,
a 41-strong jury awarded the coveted Red Dot label for good
design to the most outstanding products of the year. Now it was
time to pay tribute to the winning creations and the people who
made them.
At the red carpet gala, a Midea-brand air conditioner and a
washing machine from subsidiary Little Swan were presented
with Best of the Best awards. Other
companies to win the award included
Ikea, Airbus, Ferrari, Sony, and Microsoft.
Hybrid Air Conditioner
The Hybrid Air Conditioner, designed in collaboration
with Phoenix Design GmbH & Co. KG, has a built-in air purifying
feature,
particularly useful in polluted
modern cities.
Along with its
stylish design, it
boasts a selfcleaning function. With ultraviolet light and integrated brush, the filter can
automatically clean and disinfect. When the device is in selfcleaning mode, the signal light will illuminate through the perforated plastic panel.
Little Swan Beverly 7188 Series
Washing Machines
Manufactured in South China’s Jiangsu Province, Little Swan’s Beverly
7188 has a smart sensor that can cal-
Profit up 14% Year-on-Year
By Midea
I
Chinese homes with smart appliances
and introduce more automated technology in factories. It has also made
major acquisitions in Germany, Italy
and Japan that will help it expand.
Consolidated gross margin in the first
half was 29.2%, up 1.8 percentage
points. Net profit margin was 13.2%,
up 2.4 percentage points.
The first six months were a doubly
fruitful period for the Group’s ―twin
smart‖ approach of becoming a leader in Internet of Things ―smart
home‖ technology and automated
manufacturing.
n the first half of
2016,
Midea
Group
achieved
revenue
of
US$11.7 billion, according
to the Group’s H1 report.
Net income for the six
months ending June was
US$1.5 billion, a year-onyear increase of 14 percent.
During this period,
Midea successfully competed to outfit millions of
10
NEWSLINE
Brand Merges with Springer in Brazil
By Nadia Mathias
A
meeting was held August 23 to announce a merger of the Midea and Springer brands in São Paulo , Brazil.
Executives, clients and media were present as Midea displayed
a range of new products it will promote in the South American country, including electric pans, fryers and vacuum cleaners.
With its increased white goods portfolio, executives
zilian traditions of Springer while adopting the Chinese leadership and innovation of Midea. It will introduce new air conditioning products and evaporative coolers to the market.
expect Midea to be among the biggest players in Brazil’s home
appliances industry over the next five years. According to
feedback from the 239 people present, the event – sponsored
by Midea Residential Air Conditioning (RAC) - was a big success.
Subsidiary brand Springer Midea will combine the Bra-
It is part of the expansion plan adopted by the company
and also includes a 51 percent increase of products in the white
line portfolio. The new launches were presented to clients at the
event.
―We realized that for the domestic market, it would be
more interesting to have a competitive advantage focused on
consumer needs. So, we decided to combine the tradition of the
brand Springer to Midea’s leadership and innovation in the de-
11
NEWSLINE
Brand Merges with Springer in Brazil (Cont.)
By Nadia Mathias
velopment of residential air-conditioning products‖, explained
Felipe Costa, Midea Carrier’s CEO in Brazil.
Feature in Brazil’s Largest Finance Paper
By Nadia Mathias
B
ee.
According to the article,
the company plans to triple in size in Brazil in the
next five years, reaching
R$ 4 billion (US$1.2 billion) in net revenue by
2020. This would place it
in the top three in the industry. Strategies include a
50 percent expansion in
the product line, adding
electric pans, fryers and
vacuum cleaners to the
range.
razil’s largest newspaper for economics, finance
and business, Valor Econômico,
published an article about
Midea’s growth strategy in the
country. Midea’s future direction and the brand merger of
Springer and Midea in air conditioning were among the themes
discussed by the newspaper in
the article that featured Felipe
Costa, the CEO of MideaCarrier in Brazil, as an interview- Felipe Costa
12
KUKA
Midea Announces Results of Kuka Takeover
Press Release



Complete terms and conditions of the takeover offer can
be found in the German offer document published on the website www.partnershipinrobotics.com. An English convenience
translation of the German offer document is also available on
the website.
Following the close of the acceptance period, 72.18%
percent of KUKA shares were tendered
Minimum acceptance threshold of 30% and other nonregulatory conditions were satisfied
Additional two-week acceptance period will begin on
July 21, 2016 and will expire on August 3, 2016
IMPORTANT INFORMATION FOR INVESTORS
AND SHAREHOLDERS
Guangdong, China, 20 July 2016 – Midea (Midea Group
Co Ltd, SZSE 000333), one of the world’s leading industrial
groups in consumer appliances and Heating, Ventilation and Air
-Conditioning (HVAC) systems, announced today, following the
close of the acceptance period, the results of the acceptances of
the voluntary public takeover offer made by its subsidiary MECCA International (BVI) Limited for all shares of KUKA AG
(KUKA), a leading global supplier of intelligent automation solutions. 72.18% of KUKA shares were tendered as of July 15,
2016.
Paul Fang, Chairman and CEO of Midea, commented:
―Today we have reached an important milestone in expanding
our partnership with KUKA to deliver greater value for both
companies. The investment agreement between KUKA and
Midea governs the partnership between both companies. We
want to help grow KUKA’s business and increase its footprint,
especially in China.‖
The total number of KUKA shares for which the takeover
offer has been accepted during the offer period plus the 13.51%
KUKA shares indirectly held by Midea prior to the takeover
offer, result in 85.69% of the issued share capital and the existing voting rights of KUKA. The minimum acceptance threshold
of 30% has therefore been satisfied. The other non-regulatory
conditions of the takeover offer are satisfied as of the end of the
acceptance period. The offer remains subject to regulatory approvals.
According to the German Securities Acquisition and Takeover Act (WpÜG), shareholders of KUKA AG who have not
tendered their shares can still accept the offer by tendering their
shares during the additional two-week acceptance period, which
will begin on July 21, 2016 and end on August 3, 2016 at 24:00
hours (local time Frankfurt am Main). Midea will disclose the
final figure of shares tendered following the expiration of the
additional acceptance period.
Additional information
Midea has the financial capacity needed to implement the
transaction. The transaction is financed via a credit facility.
Morgan Stanley is acting as exclusive financial advisor and
Freshfields Bruckhaus Deringer is acting as legal advisor to
Midea on the transaction.
This announcement does not constitute an offer or an
invitation to purchase any securities. The takeover offer is
made solely by means of the offer document, which contains
the full terms and conditions of the takeover offer including
details of how it may be accepted.
This document may contain certain forward-looking statements. Such statements are, in particular, indicated by terms
such as "expects", "believes", "is of the opinion", "attempts",
"estimates", "intends", "assumes" and "endeavors" and similar
phrases. Such statements express current intentions, views, expectations, estimates and forecasts with regard to possible future events. They are, inter alia, based on certain assumptions,
assessments and forecasts, are subject to risks and uncertainties
and therefore they may turn out to be incorrect.
Notice to US holders of KUKA AG Shares
The takeover offer is being made for the securities of a
German company and is subject to German disclosure requirements, which are different from those of the United States. The
financial information included in this announcement has been
largely prepared in accordance with International Financial Reporting Standards and the generally accepted accounting principles of the PRC and thus may not be comparable to financial
information of US companies or companies whose financial
13
KUKA
Midea Announces Results of Kuka Takeover
Press Release
purchase is made public in Germany, such information also will
be deemed to be publicly disclosed in the United States. In addition, the financial advisors to the Bidder may also engage in
ordinary course trading activities in securities of KUKA AG,
which may include purchases or arrangements to purchase such
securities.
statements are prepared in accordance with generally accepted
accounting principles in the United States. The takeover offer is
made in the United States pursuant to the applicable US tender
offer rules, including Regulation 14E and relevant provisions on
exemptions from the prohibition on purchases outside the takeover offer and otherwise in accordance with the requirements of
the German Securities Acquisition and Takeover Act
(Wertpapiererwerbs- und Übernahmegesetz). Accordingly, the
takeover offer will be subject to disclosure and other procedural
requirements, including with respect to withdrawal rights, offer
timetable, settlement procedures and timing of payments that
are different from those applicable under domestic US tender
offer procedures
and
law.
To the
extent permissible under applicable law or
regulation,
MECCA
International
(BVI) Limited
(the
Bidder) and
its affiliates
or brokers
(acting as agents for the Bidder or its affiliates, as applicable)
may from time to time before, during or after the period in
which the takeover offer remains open for acceptance, and other
than pursuant to the takeover offer, directly or indirectly purchase, or arrange to purchase, shares of KUKA AG, that may be
the subject of the takeover offer, or any securities that are convertible into, exchangeable for or exercisable for shares of KUKA AG. Any such purchases, or arrangements to purchase, will
comply with all applicable German rules and regulations and
Rule 14e-5 under the U.S. Securities Exchange Act to the extent
applicable. Information about such purchases will be disclosed
in Germany to the extent required by applicable law. To the
extent information about such purchases or arrangements to
About Midea
Midea is a leading global player in consumer appliances
and Heating, Ventilation and Air-Conditioning (HVAC) systems, with diversified product offering, encompassing airconditioners,
refrigerators,
laundry appliances, kitchen
appliances and various small
home appliances. Midea is
committed to build a better
life by adhering to the principle of ―Creating Value for
Customers‖. Midea is focused
on continuous technological
innovation, including robotics, to improve product and
service quality, to make life
more comfortable and pleasant.
Founded in 1968 in Guangdong, China, Midea has now
established a global platform of more than 200 subsidiaries and
nine strategic business units. Midea had total revenues of over
EUR 18.7 billion in the fiscal year ending December 31, 2015
and approximately 100,000 employees worldwide. Midea runs
21 manufacturing sites globally and operates 260 logistics centres. Midea is a private company listed on the Shenzhen Stock
Exchange (000333). Midea has a diversified investor base with
approximately 20 percent of shares held by international institutional investors.
To learn more about Midea, please visit http://
www.midea.com/global/
For the tender offer document please visit http://
www.partnershipinrobotics.com/
14
FUSION
Land of Caves and Ancient Trade Routes
By Kevin McGeary
S
The native tribes of East Malaysia have their own languages which are related to, but easily distinguishable from,
Malay. English was the predominant language in government
until 1969, and is still a pillar of the education system.
ince a local subsidiary was established in 2006, Malaysia has become one of Midea’s most important markets. Midea
Scott & English has provided Malaysian consumers with modern, high quality products. Supported by sales & service centers
throughout the country, the company’s philosophy is to ensure
customer satisfaction with quality products that are accessible
to all Malaysian consumers.
Malaysia is the third largest economy in Southeast Asia in
gross domestic product behind Indonesia and Thailand, and
the third largest in per capita gross domestic product behind
Singapore and Brunei. Here are some things you may not have
known about the country.
Ancient history
The Lembah Bujang Archaeological Museum is the only
museum in Malaysia which exhibits archaeological collections
that serves as evidence of the existence of a trade and Hindu/
Buddhism propagation center in Southeast Asia from the third
to the twelfth centuries AD. It has archaeological evidence that
clearly
shows that
Malaysia’s
Bujang Valley was a
central port
which served
as a trade
center between Chinese, Indian Lembah Bujang
and Arab traders.
Lembah Bujang was also the first port in southeast Asia
via its sea route which functioned as an alternative route to the
Far East to rival the silk road. Lembah Bujang’s significance as
Southeast Asia’s central port was evident in archaeological
finds and writings of Chinese and Arab seamen as well as in
Indian literature. These chronicles, dated between the 2nd and
14th century AD, told of the existence of a prosperous and
bustling kingdom in Lembah Bujang that was known as the
"seat of all felicities".
Language
Malaysia contains speakers of 137 living languages, 41 of
which are found in Peninsula Malaysia. The government provides schooling at the primary level in each of the three major
languages, Malay, Mandarin and Tamil.
The national, or official, language is Malay which is the
mother tongue of
the majority Malay ethnic group.
Malay
became
predominant after
the 1969 race
riots. A variant of
the Malay language that is spoken in Brunei is
also commonly
spoken in East
Malaysia.
Founding
It was born as a
modern nation
state in 1957
when the Brit-
15
FUSION
(Cont.)
By Kevin McGeary
ish surrendered their sovereignty over Malaysia and the peninsula became independent with the name 'Federation of Malaysia'. The new federation was established on September 16th,
1963 by the unity of Malaysia, Singapore and the east-Malaysian
states Sabah and Sarawak on the north coast of Borneo.
Directly after this, The Philippines and Indonesia broke
diplomatic relations, because they believed that some parts belonged to them. Indonesia started with the konfrontasi
(confrontation); fishing-boats in front of Sarawak's coast were
sunk and their planes entered Sabah airspace. But after the deposal of Indonesian President Sukarno in 1966, the government
made a treaty of peace with Malaysia and The Philippines
dropped its territorial claim on Sabah.
In 1965 Singapore separated from the federation and
became an independent state. The sultan of the oil state Brunei
(located between Sabah and Sarawak), made clear that he opposed unity with Malaysia.
Cuisine
Malaysia's
culinary
style in the
present
day is primarily a
melange
of traditions from
Nasi lemak
its
Malay,
Chinese, Indian, Indonesian and ethnic Bornean citizens, with
heavy to light influences from Thai, Portuguese, Dutch, and
British cuisines.
The national dish is widely said to be nasi lemak, rice
steamed with coconut milk and pandan leaves. It is customarily served with ikan bilis, peanuts, sliced cucumber, hard boiled
eggs and sambal. Other popular dishes include congee, a type
of rice porridge, eaten primarily as a breakfast or late supper. It
is also considered suitable for the sick as a mild, easily digestible food.
A practice known as "open house‖ is popular on festive
occasions. Home-cooked or catered food is provided by the
host at their own expense, and while it is acceptable for guests
to bring along gifts, they are expected to help themselves to the
food. Open house events may also
be held at restaurants and larger public venues, especially when hosted by
government agencies or corporations.
Caves
Among
the most
famous
caves in
the world
are those
in Gunung
Mulu NaGunung Mulu
tional Park,
Sarawak, which was inscribed as a World Heritage site in 2001.
More than 362 km of cave passage have been mapped there.
Some of its caves are world record holders, such as Gua Nasib
Bagus, which houses Sarawak Chamber, the world’s largest.
Clearwater Cave is the eighth longest in the world, at 215 km.
Deer Cave is one of the world's largest cave passages. Niah
Caves, also in Sarawak, is a famous archaeological site. A
40,000 year old human skull was found there and rock paintings have been dated at 1200 years old.
Perak Tong Cave Temple is located just north of Ipoh
and is one of the oldest temples and famous for the murals.
The walls of the cavern are decorated with colorful murals depicting characters and events from Chinese mythology and
Buddhist scriptures.
Fashion and Attire
Baju is the term for clothing in
the Malay language. Since Malaysia
comprises three major cultures, each
culture has its own traditional and
religious articles of clothing all of Baju Kurung Kedah
16
FUSION
(Cont.)
By Kevin McGeary
which are gender-specific and may be adapted to local influences and conditions.
Baju Kurung Kedah – worn only by Malay women as a
daily dress for married women. It is a shorter dress with threequarter sleeves, so the wearer can move around.
Baju Batik – worn by men and women on formal occasions. It usually consists of colorful cotton printed in the
―batik‖, that is cloth made from wax-resist dyeing.
Baju Kurung – worn by women for formal occasions
like school or weddings. It
is brightly colored and can
come in a variety of printed designs. It is a kneelength dress with fulllength sleeves.
On the more modern end of the scale, Malaysia’s greatest fashion
KRU is the most successful hip hop dance group in Malaysia.
After bringing Rap music to the masses in 1992, they established their own record label which spawned the first Malaysian girl group Feminin and R&B crooners Indigo. Feminin
debuted at RTM Eid ul-Fitr special in 1993 marking the start
of Malaysia’s girl group era.
Contemporary pop music exchanges between Malaysia,
Indonesia, Singapore and Brunei are normal since the Malay
language is widely spoken in all of those countries. Pop singer
Siti Nurhaliza for
example is famous
in all four.
Yuna, an independent Malaysian
singer-songwriter,
had her 2012 single
―Live Your Life‖
produced by Pharrell Williams. She
was
subsequently
recognized with a
National
Youth
Icon Award by
Prime Minister Datuk Seri Najib Razak.
icon is Jimmy Choo (周仰
杰), who received patronage from Diana, Princess of Wales.
Jimmy Choo
Music
P. Ramlee
Both Malaysian popular
music and contemporary art music are essentially
Western-based
traditions
combined
with local elements. In
1950s, P. Ramlee (19291973) helped create a
Malaysian form that
combined folks songs
with Western dance
rhythms and styles of
both the pre-colonial
period and the period
during which Portugal
colonized the region
(1511-1641).
In contemporary genres,
Sport
Sepak Takraw
17
The national
sport of Malaysia is Sepak
Takraw. It is a
sport in which
the
players
must kick a
takraw (hollow
ball made out
of rattan or
woven palm
stems) over a
net. It is similar
FUSION
(Cont.)
By Kevin McGeary
to volleyball or badminton except players cannot use their
hands.
In terms of international competition, Nicol David is a
Malaysian professional squash player who, starting in August
2006, was the world number one for a record 108 consecutive
months. She
has won the
World Open
title a record
8 times. Considered
by
some to be
the greatest
women's
squash player
Nicol David
of all time, she
is perhaps Malaysia’s best loved sports star.
Badminton player Lee Chongwei was ranked No. 1 in the
world from just after the Beijing Olympics in 2008 to just before the London Olympics in 2012, though he finished runnerup in both to Chinese rival Lin Dan. In Rio this year, he overcame Lin in a nail-biting semi-final, only to lose the final and
miss out on becoming Malaysia’s first ever Olympic gold medalist.
Islam was introduced by traders arriving from Arabia,
China and India. It became firmly established in the 15th century. The constitution makes Malaysia a secular country and
guarantees freedom of religion, while establishing Islam as the
"religion of the Federation" to symbolize its importance to
Malaysian society.
Relations between different religious groups are generally
tolerant. Christmas, Chinese New Year, and Deepavali have
been declared national holidays alongside Islamic holidays
such as Muhammad's birthday.
Famous people
Perhaps the
most famous living
Malaysian is the 34
year-old
model,
actress, TV host
and brand ambassador Amber Chia
(谢丽萍). Winner
of
the
Guess
Watches Timeless
Beauty International Model Search
2004 title, Amber
has appeared in
over 300 magazine Amber Chia
covers, catwalk on
runways in 6 continents, starred in 7 movies, authored 2 books, and appointed
ambassador for over 30 brands.
Actress Tan Sri Michelle Yeoh is known for her roles in
the 1997 James Bond film Tomorrow Never Dies and martial
arts film ―Crouching Tiger, Hidden Dragon”. In 2008, she was
ranked the greatest action heroine of all time by the film criticism website Rotten Tomatoes. She was listed by People magazine (the only Asian actress to be listed) as one of the ―35 AllTime Screen Beauties‖ in 2009.
Religion
Malaysia is a multicultural and multi-confessional country.
As of the 2010 Population and Housing Census, 61.3 percent
of the population practices Islam; 19.8 percent Buddhism; 9.2
percent Christianity; 6.3 percent Hinduism; and 1.3 percent
traditional Chinese religions.
18
FUSION
From Stravinsky to Solzhenitsyn
By Kevin McGeary
through the woodlands of Eastern Europe. These tribes who
shared a common Slavic language had by the 7th century split
into western, southern and eastern branches, the latter
stretching from the Dniester River to the Volga and the Baltic
Sea.
Under Viking rule, a capital was established in Kiev. The
new princedom was named Rus, most likely derived from a
Nordic word meaning ―men who row‖. Though the
princedom thrived due to rich resources and strong trade
partnerships, the decline of Constantinople, hit its economy
severely.
In 1237, 35,000 mounted archers led by Batu Khan
sacked the princedom’s cities before moving further west. A
remote trading post known as Moscow would gradually grow
to challenge Mongol power, conquering and absorbing
territories of its fragmenting empire to the East.
July saw Midea open its first brand store in Moscow,
following on from last year when Midea was an official sponsor
of the FINA Games which were held in the Russian city of
Kazan. Midea’s brand recognition and revenue are both
expected to grow significantly in Russia over the coming years.
As an economy, Russia has seen a resurgence in the early
21st century after a 1990s slump. Here are some things you
may not have known about the world’s largest nation.
Cyrillic
The Cyrillic alphabet owes its name to the 9th century
Byzantine missionary St. Cyril, who, along with his brother,
Methodius, created the first Slavic alphabet—the Glagolitic—
in order to translate Greek religious text to Slavic. Based on
the Greek ceremonial script, the original Cyrillic alphabet
included the 24 letters of the Greek alphabet and 19 letters for
sounds specific to the Slavic language.
How did Russia become so big?
In the first millennium AD, a large group of tribes spread
The very existence of the Cyrillic alphabet in Russia was
once under threat. In 1919 there was an idea to replace it with
the Latin one and bring it into harmony with the alphabet used
in Western countries. That could have made the process of
learning Russian much easier for some, but this was not to be
and we can still enjoy the masterpieces of Russian literature in
A map of Russia from 924
19
FUSION
From Stravinsky to Solzhenitsyn (Cont.)
By Kevin McGeary
their original script.
As of 2011, around 252 million people in Eurasia use it as
the official alphabet for their national languages, with Russia
accounting for about half of them. With the accession of
Bulgaria to the European Union on January 1, 2007, Cyrillic
became the third official script of the European Union,
following the Latin and Greek scripts.
masterpieces of the Soviet era.
Composers
Russia is a major contributor to Western Art Music. The
Mighty Handful was a group of prominent 19th century
composers active in Saint Petersburg who strived to produce a
specifically Russian kind of classical music. The group met
from 1856 to 1870 and consisted of Mily Balakirev (the
leader), César Cui, Modest Mussorgsky, Nikolai RimskyKorsakov and Alexander Borodin.
Around the same time, Pyotr Ilyich Tchaikovsky created
a body of work that placed him as arguably the most popular
―classical‖ composer of all time. His best known works
include the ballets ―Romeo & Juliet‖ and ―Swan Lake‖.
More recently, Igor Stravinsky’s ―The Rite of Spring‖,
which premiered to riots in Paris in 1913, is one of the seminal
works of the modernist era. The piece would go on to leave an
indelible mark on jazz, minimalism, and other contemporary
Authors
The most celebrated
period of the Russian novel
was the 19th century, which
produced some of the
undisputed masterworks of
world literature. Russian
classics are defined by
formal innovation and
philosophical exploration.
The Russian language
has given the world
nineteenth century novelists
Leo Tolstoy (War & Peace,
Leo Tolstoy
Anna Karenina) and Fyodor
Dostoevsky
(Crime
&
Punishment, The Brothers Karamazov) to masters of the short story
such as Anton Chekhov and Nikolai Gogol. Some of
Chekhov’s great quotes include ―Any idiot can face a crisis - it's
day to day living that wears
you out‖; and ―If you are
afraid of loneliness, don’t
marry.‖
In the twentieth and twentyfirst
centuries,
Russian
authors Boris Pasternak,
Mikhail
Sholokhov,
Aleksandr
Solzhenitsyn,
Joseph Brodsky, Svetlana
Alexievich have won the
Nobel Prize for Literature.
Pasternak’s Dr. Zhivago and
Solzhenitsyn’s
Gulag
Boris Pasternak
Archipelago are among the great
Igor Stravinsky
movements. His contemporary Dmitri Shostakovich was also
among the most innovative musicians of the time.
Space exploration
The Soviet space program comprised the rocketry and
space exploration programs conducted by the former Soviet
Union from the 1930s until 1991. Over its sixty-year history, it
20
FUSION
By Kevin McGeary
was responsible for a
number of pioneering
accomplishments
in
space flight, including
the first intercontinental
ballistic missile, first
satellite, first animal in
Earth orbit, first human
in space, first woman in
space, first spacewalk,
first Moon impact, first
image of the far side of
the moon and unmanned
lunar soft landing, first
space rover, first sample
of lunar soil, and first
Yuri Gagarin, the first person in
space station.
space
In the 1990s, Russian
space exploration was in a rut, but today Roscosmos, the
governmental body responsible for the space science program
of Russia and general aerospace research, is overseeing
something of a renaissance, including a number of research and
aerospace programs.
established in Kievan Rus. The great churches of Kievan Rus',
built after the adoption of Christianity in 988, were the first
examples of monumental architecture in the East Slavic
region. The architectural style of the Kievan state, which
quickly established itself, was strongly influenced by Byzantine
architecture. Early Eastern Orthodox churches were mainly
built from wood, with their simplest form known as a cell
church. Major cathedrals often featured many small domes,
which has led some art historians to infer how the pagan Slavic
temples may have appeared.
Throughout the Muscovite periods and the imperial
period, Russian architecture adopted more influence from
Mongolia, the Middle East and the Netherlands. Today its
most iconic buildings include Saint Basil’s Cathedral in Red
Square, the Kremlin, Catherine Palace in St. Petersburg and
The Winter Palace, in which Midea has installed its
commercial air conditioning.
Cuisine
Russian cuisine derives its varied character from the vast
and
multi-cultural
expanse of Russia. Its
foundations were laid
by the peasant food of
the rural population in
an often harsh climate,
rich local resources
provided
the
ingredients
for
a
Kotlety
plethora
of
breads,
pancakes, pies, cereals, beer and vodka.
Popular Russian dishes include Rassolnik, a hot soup in a
salty-sour cucumber base; Pelmeni, minced meat wrapped in
dough; and Kotlety, small pan-fried meatballs similar to
Salisbury steak.
Architecture
Russian architecture follows a tradition whose roots were
Sport
Since the Olympic Games in Helsinki in 1952, Russia has
been in the top four in the medal table at every Summer
The Winter Palace, which contains Midea air conditioning
21
FUSION
By Kevin McGeary
Olympics. It was top two in most. According to Yandex search
analysis: "Football topped the list of the most popular sports in
Russia". Ice hockey came in second with basketball, boxing,
auto racing, volleyball, athletics, tennis and chess rounding out
the top ten. Other popular sports include bandy, biathlon,
figure skating, handball, weightlifting, gymnastics, wrestling,
martial arts, rugby union,
and skiing.
In football The Soviet
Union won the inaugural
European Championship in
1960, beating Yugoslavia 21 in the Paris final. Their
number one that day was
Lev Yashin, nicknamed the
"Black Spider", who is
widely believed to be the
greatest goalkeeper in the
history of the game.
Lev Yashin
According to FIFA, Yashin
saved over 150 penalty kicks
in professional football – more than any other goalkeeper.
Russia’s men’s ice hockey team won gold at the world
championships on five occasions between 1993 and 2014. One
of Russia’s greatest hockey players was Sergei Fyodorov. He
played in the National Hockey League (NHL) for the Detroit
Red Wings, with whom he won the Stanley Cup on three
occasions.
Banya
Banya, a Russian type of sauna, a kind of steam bath, is
one of the oldest Russian traditions. It is a popular form of
relaxation and bonding.
A Russian banya has a special room, where a large
amount of hot steam is created with the help of water and hot
air. Inside the banya, which is usually built of wood, there are
wide wooden benches along the walls. They are built one
above the other like steps. The higher up the bench the hotter
the air. Once someone has warmed up well enough, he or she
leaves the steam room and dips into a pool of cold water.
Wildlife
Russia contains the planet's largest expanse of forest,
over eight million square kilometers of mixed woodlands that
are home
to
rare
carnivores
including
tigers,
bears and
leopards.
According
to the Red
Data
Book of Siberian tiger
the Russian
Federation, as of 1997, the country had 266 mammal species
and 780 bird species under protection.
In the Russian Far East the mammals reportedly spotted
include brown bears, Eurasian lynx, and red deer, Amur tigers,
Amur leopards, and Asiatic black bears. There are also about
350 bird species and 30 percent of all endangered species in
Russia are found there which include 48 unique endangered
species.
Banya
22
SNAPSHOT
Brand Merger Celebrated in
Brazil
23

Midea Breaks into Fortune 500

Transcription

Similar documents

CAC Installed Ahead of Rio Olympics

Midea Has Been Making a Splash

Controller - SupportUSCenter.com

I`m helping to end MS by participating in the 2016 Jayman BUILT MS

The Board of Directors of Qatar Fuel (WOQOD) is pleased to invite

5 `S` Training Program at ABV-IIITM, Gwalior on 21.07.2016

4 star ALOE HOTEL, PAPHOS

the Guidelines for the registration on

loyola institute for ministry on-campus open house thursday, may 12