WINNERS OF INAUGURAL ASEAN STEEL ARCHITECTURAL AWARDS ANNOUNCED AT GRAND EVENT IN MALAYSIA

 

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SINGAPORE, Nov 19 (Bernama-BUSINESS WIRE) -- The winners of the first BlueScope Steel Architectural Awards ASEAN were crowned at a gala dinner event in Kuala Lumpur, Malaysia this November 14. A number of respected industry bodies -- the Association of Siamese Architects under Royal Patronage (ASA), Thailand, Ikatan Arsitek Indonesia (IAI), the University of Architecture Ho Chi Minh City (UAH), Malaysia’s ACG Media Group and AustCham Singapore, partnered with NS BlueScope, to create this awards program to celebrate the most innovative and creative uses of steel across a diverse range of architectural projects in the region.

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There were five award categories, with one winner selected from shortlisted projects in each. Companies from Malaysia, Thailand, Indonesia, and Vietnam, participated with the ASEAN finalists drawn from total 14 winning entries in the respective national competitions. Projects were assessed on Design Excellence, Innovation, and Sustainability, with the judges scoring a range of features from aesthetic merit to functionality and efficiency, with a particular focus on how they are serving their local communities.

The winners of the individual categories are:

• Industrial: The Industrial Foundry for Marine Vessels, by Ar. Naksit Wisetmora
• Commercial: VanaVasa Resort, by M J Kanny Architect
• Residential: LAAB is More, by Studio Sifah
• Institutional and Others: Masjid Daing Abdul Rahman, by Razin Architects
• Long Lasting Beauty of COLORBOND® steel: CIDB Convention Centre, by Arkiskape

“This new awards program will shine a deserving spotlight on some of the greatest steel architectural triumphs of our region. As an industry leader in painted and coated steel solutions, we are proud that we contribute to the innovation of building industry and help enable those beautiful, well-designed projects that are genuinely forging our communities and advancing sustainability,” said Connell Zhang, Chief Executive of NS BlueScope & China.

The winners were announced at the Awards Ceremony at the Hilton Kuala Lumpur Hotel. Around 150 representatives attended the event, including a selection of notable Guests of Honour, including the Australian High Commissioner to Malaysia, Ms. Danielle Heinecke, who praised the beauty of the winning entries and noted the strong contributions they made to their local communities.

For more information on the winners of the BlueScope Steel Architectural Awards ASEAN click Here.

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Contact

James Li | Vice President, Business Transformation, NS BlueScope Pte. Ltd.
T +65 6832 3512 | M +65 9626 2750
E james.li@bluescope.com | W www.nsbluescope.com

Source : NS BLUESCOPE

AM BEST DOWNGRADES CREDIT RATINGS OF EVERGREEN INSURANCE COMPANY LIMITED

HONG KONG, Nov 18 (Bernama-BUSINESS WIRE) -- AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “a” (Excellent) of Evergreen Insurance Company Limited (EICL) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect EICL’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the parental support EICL receives from Evergreen International S.A. and Evergreen International Corporation in terms of capital, business development, operations and risk management.

The rating downgrades reflect changes to EICL’s operating performance and business profile assessment, based on EICL’s latest business plan to cease underwriting new business starting from mid-May 2024. AM Best revised the company’s operating performance assessment to adequate from strong given that its top-line and bottom-line results are projected to drop materially in the next two years. Additionally, AM Best revised the company’s business profile assessment to limited from neutral due to the planned reduction in business scale.

EICL’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2023, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite the significant projected decline in the absolute capital level as per the company’s capital and business plan, AM Best expects EICL’s risk-adjusted capitalisation to be maintained at the strongest level in the intermediate term due to the significantly reduced underwriting risks. Other supportive factors of the balance sheet strength include a highly liquid and conservative investment portfolio, a track record of prudent reserving, and a comprehensive reinsurance programme.

As a pure captive of Evergreen Group, EICL’s in-force underwriting portfolio primarily consists of marine, aviation and property risks related to the group’s operations. The company has ceded the majority of its risk exposures to a panel of financially sound reinsurers and maintained a low retention ratio. EICL’s overall capital position and profitability have been stable over the past five years, owing to prudent underwriting practices, conservative reserving assumptions and long-term reinsurance relationships. EICL’s risk management is well-embedded into the group’s risk framework and is viewed as appropriate to support its risk profile.

EICL’s five-year average return-on-equity ratio was 12.2% (2019-2023). Operating results are expected to remain favourable and stable in 2024, supported by profitable underwriting and higher investment income. However, minimal prospective earnings are projected in 2025 and 2026 based on its business plan.

EICL has historically been a beneficiary of support from its shareholders and the wider parent group. AM Best expects EICL’s shareholders will remain committed and continue to render support to the company during the run-off period in terms of capital, risk management and operations, if needed.

Negative rating actions could occur if there is a significant deterioration in EICL’s risk-adjusted capitalisation to a level that no longer supports the current balance sheet strength assessment. Negative rating actions could occur if there is significant deterioration in the level of support from its shareholders, Evergreen International S.A. and Evergreen International Corporation. Negative rating actions could occur if there is material adverse deviation in the execution of the business plan that no longer supports an adequate assessment of operating performance. Although it is deemed unlikely, positive rating actions could occur if there is a significant improvement in the company’s balance sheet strength.

AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Contact

Madison Fan
Financial Analyst
+852 2827 3416
madison.fan@ambest.com

James Chan
Director, Analytics
+852 2827 3418
james.chan@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com


Source : AM Best

BIBAN24 PROPELS SAUDI ENTREPRENEURIAL ECOSYSTEM GROWTH, DEVELOPMENT

KUALA LUMPUR, Nov 11 (Bernama) -- More than 23 agreements were signed, along with several project launches valued at over 580 million Saudi riyals, on the third day of the Biban24. (100 Saudi riyals = RM117.40)

According to a statement, Biban 2024 aims to drive the growth and development of the Saudi entrepreneurial ecosystem, fostering collaboration among local and international entrepreneurs.

Emphasising its commitment to advancing entrepreneurship in the Saudi tourism sector, the Tourism Development Fund has signed several landmark agreements with a range of financial institutions, including Arab National Bank, Raedah Finance, and Tawkeel Finance.

In line with Vision 2030, these agreements are fully geared towards strengthening small and medium-sized enterprises (SME) in the tourism sector and supporting projects that contribute to the development of local tourism.

Among others, Monsha’at also signed agreements to equip entrepreneurs with the tools to realise their potential by providing greater access to vital technical and technological guidance, as well as cloud services to reaffirm its commitment to powering the future of the Kingdom’s SME sector.

Organised by Monsha'at, the Small and Medium Enterprises General Authority, the event was held under the theme "A Global Destination for Opportunities” and took place at the Riyadh Front Exhibition & Conference Center.

-- BERNAMA

Jumio’s Identity Verification Solutions To Help Riley Cillian Streamlines eKYC

 

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KUALA LUMPUR, Nov 6 (Bernama) -- Jumio, the automated, artificial intelligence (AI)-driven identity verification, risk signals and compliance solutions provider has partnered with Riley Cillian to streamline electronic Know Your Customer (eKYC) for the social media platform’s video chat apps.

“We are proud to partner with Riley Cillian to create a positive onboarding experience for all community members and to help get them one step closer to developing meaningful in-app connections,” said Jumio vice president of APAC, Frederic Ho in a statement.

Meanwhile, Riley Cillian co-founder and chief operating officer, Leon Sun said Jumio’s advanced technology not only improves user experience by streamlining Riley Cillian’s KYC checks but also allows the company to effectively verify Arabic ID documents, which has been a challenge in the past.

“By partnering with Jumio, we can now streamline our KYC process, improve customer conversion, and ensure we meet all regulatory requirements,” added Sun.

Founded in 2014 and now based in Singapore, Riley Cillian’s mission is to build the best live video chat platform and facilitate meaningful connections across cultures, languages and borders in a respectful, fun and safe way.

Riley Cillian’s social apps are available in more than 100 countries and have been downloaded over 100 million times.

When looking for an eKYC provider, they wanted to work with a solution that provided ease of use no matter where in the world its members want to create an account.

Jumio offers the most comprehensive identity verification solutions on the market, accepting and reliably verifying more than 5,000 types of government-issued IDs globally, including many with non-Latin script, which will enable Riley Cillian to scale its onboarding process.

-- BERNAMA

ZENAS BIOPHARMA TO PARTICIPATE IN UPCOMING HEALTHCARE INVESTOR CONFERENCES

WALTHAM, Mass, 8 Nov (Bernama-GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas” or the “Company”) (Nasdaq: ZBIO), a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative immunology-based therapies, today announced the Company’s participation at the following healthcare investor conferences:

• Guggenheim’s Inaugural Healthcare Innovation Conference on November 12, 2024, in Boston, MA
• Jefferies London Healthcare Conference on November 19, 2024 presentation at 4:00 p.m. to 4:25 p.m. GDT, in London
• Citi’s 2024 Global Healthcare Conference on December 3, 2024 presentation at 9:30 a.m. to 10:10 a.m. ET, in Miami, FL
• Evercore ISI HealthCONx Conference on December 4, 2024 presentation at 1:20 p.m. to 1:40 p.m. ET, in Coral Gables, FL

Live webcasts and archived replays of the Company’s presentations at the Jefferies, Citi and Evercore conferences can be accessed under “Events and Presentations” in the Investors and Media section of the Zenas BioPharma website.

About Zenas BioPharma, Inc.

Zenas is a clinical-stage global biopharmaceutical company committed to becoming a leader in the development and commercialization of transformative immunology-based therapies for patients in need. Our core business strategy combines our experienced leadership team with a disciplined product candidate acquisition approach to identify, acquire and develop product candidates globally that we believe can provide superior clinical benefits to patients living with autoimmune diseases. Zenas’ lead product candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcγRIIb, which are broadly present across B cell lineage, to inhibit the activity of cells that are implicated in many autoimmune diseases without depleting them. We believe that obexelimab’s mechanism of action and chronic dosing regimen may broadly and effectively address the pathogenic role of B cell lineage in chronic autoimmune disease. For more information about Zenas BioPharma, please visit www.zenasbio.com and follow us on X at @ZenasBioPharma and LinkedIn.

The Zenas BioPharma word mark and logos are trademarks of Zenas BioPharma, Inc. or its affiliated companies.

Investor Contact:
Matthew Osborne
Investor Relations and Corporate Communications
Matt.osborne@zenasbio.com

Media Contact:
Argot Partners
Zenas@argotpartners.com


SOURCE : Zenas BioPharma (USA) LLC

PANGEA UNVEILS TWO REVOLUTIONARY PRODUCTS WITH LOW ENVIRONMENTAL IMPACT

KUALA LUMPUR, 6 Nov (Bernama) -- Pangea, an innovator in sustainable materials for the automotive industry, has announced the launch of two groundbreaking products, namely Pulvera and Verita.

These advanced automotive leathers represent a bold step in Pangea's ongoing commitment to sustainability and responsible manufacturing practices, aligning with the company's vision of creating eco-friendly materials that meet the needs of a changing world.

Pangea's global teams set out to design a new class of leather materials specifically for the automotive industry this year, with these products being not only nearly 90 per cent bio-based in their finished state but also actively diverting materials from landfills, dramatically reducing waste in an innovative way.

As part of the Pangea Corporate Trend Show series, the company introduced "Chart the Path", a key chapter in the company's sustainability journey. Engaging with customers, Pangea outlined how durable, natural materials are transforming the automotive industry while aligning with global sustainability goals.

The highlight of the series was the launch of  Pulvera and Verita that set new benchmarks for lower environmental impact, innovative recycled chemistry, and reduced Global Warming Potential (GWP), according to a statement.

Pulvera is a full-bodied leather that embraces a circular manufacturing process, and by incorporating a recycled compound made from buffing waste, it significantly reduces its environmental footprint and stands out as a luxurious, sustainable material that exemplifies Pangea's commitment to eco-friendly innovations in automotive interiors.

Meanwhile, Verita elevates the art of leather craftsmanship by creating a compostable substrate through an alternative metal-free tanning process. This semi-aniline material highlights the natural beauty of the animal hide with minimal coating, emphasising its unique characteristics while maintaining a lower environmental footprint.

Its innovative design and sustainable chemistry enable a higher biogenic carbon content, enhancing its alignment with a circular economy and reducing its overall impact on the environment.

These two new product offerings showcase how high bio-based content materials can revolutionise the automotive industry without compromising performance, and with its traditional leathers already achieving 80 to 85 per cent bio-based content, both products push these boundaries further, reaching up to 92 per cent bio-based in their end products.

These advancements reinforce Pangea's belief that leather, as a natural and highly renewable material, plays a vital role in creating a more sustainable future for the automotive industry. By increasing the use of bio-based resources, Pangea is dedicated to reducing the carbon footprint of its products and contributing to a healthier planet.

-- BERNAMA

WISE PLATFORM PARTNERS STANDARD CHARTERED TO REDEFINE INTERNATIONAL PAYMENTS EXPERIENCE

KUALA LUMPUR, Nov 5 (Bernama) -- Wise announced its global payments infrastructure for banks, Wise Platform, has partnered with Standard Chartered to power faster and cheaper international payments for the bank’s cross-border payment service, SC Remit.

The partnership will allow Standard Chartered’s SC Remit customers in Asia and in the Middle East to send money in 21 currencies, in a matter of seconds all while being fully transparent on pricing, customers getting the mid-market rate with no markups.

Wise Platform Managing Director, Steve Naudé said the partnership with Standard Chartered marked a significant milestone in financial institutions investing in building better international payment experiences for customers.

“With Wise Platform, Standard Chartered gains access to Wise’s global payments infrastructure, including our extensive licence network, six direct connections, payment operations expertise and proven capabilities in treasury management. All these enable us to deliver fast, secure and transparent payments around the world,” he said in a statement.

Meanwhile, Standard Chartered Chief Client Officer and Global Head, Wealth Solutions, Deposits and Mortgages, Samir Subberwal said: “We chose to partner with Wise Platform due to their extensive currency coverage and stellar cross-border payments experience they are known for.

“This collaboration is a key step in enhancing our international payment services as we offer an even more seamless, faster, and efficient digital global payments experience to our clients.”

Standard Chartered will integrate Wise’s infrastructure through the Wise Platform application programming interface (API) to provide this experience to SC Remit customers over the coming quarters, with a further expansion on the horizon both in the number of currencies supported as well as more markets where the global bank operates.

The bank joins the strong roster of partners choosing Wise Platform to make cross-border payments more efficient and bring convenient, fast, secure and transparent transactions to their customers, improving the end-to-end experience and driving customer loyalty.

With over 65 licences and six direct connections to payment systems, 63 per cent of Wise’s cross-border payments are completed instantly, under 20 seconds.

-- BERNAMA