CSOP: PIONEERING CROSS-BORDER OPPORTUNITIES IN HONG KONG, CONNECTING SAUDI ARABIA WITH CHINA'S FINANCIAL MARKETS

HONG KONG, Oct 30 (Bernama-BUSINESS WIRE) -- CSOP Asset Management Limited ("CSOP") is thrilled to be part of the introduction of the Albilad CSOP MSCI Hong Kong China Equity ETF (symbol :9410) on the Saudi Stock Exchange ("Tadawul") on October 30, 2024. 9410 will invest at least 95% of its assets to the CSOP MSCI HK China Connect Select ETF (ticker: 3432.HK) listed on the Hong Kong Stock Exchange ("HKEX"). This marks a milestone as the first ETF in Saudi Arabia to track the Hong Kong equity market. The Albilad CSOP MSCI Hong Kong China Equity ETF is set to be the largest ETF in the Middle East, making its debut with an initial size exceeding USD 1.2 billion¹. As the investment manager of 3432.HK, CSOP is excited to join forces with Albilad Capital to offer this captivating investment opportunity, allowing investors in Saudi Arabia to tap into the dynamic and diverse Chinese economy.

9410 is a Sharia-compliant ETF that employs a passive investment strategy, replicating the performance of the MSCI Hong Kong China Connect Select Index ("the Index") via investing in 3432.HK. This Index provides exposure to the top 30 securities by full market capitalization in the MSCI China and the MSCI Hong Kong indexes that are listed on the HKEX and comply with Sharia standards. For the first time, this ETF grants investors in Saudi Arabia direct access to the growth potential of China's diverse economy, across sectors such as consumption, healthcare, and technology, among others.

Albilad Capital serves as the investment manager for 9410. Established in 2008, Albilad Capital is the leading ETF issuer in Saudi Arabia in terms of assets under management, accounting for 70% of all ETFs in the Saudi market. Furthermore, its unit holders represent 60% of the market share in the Saudi market².

On November 29, 2023, CSOP introduced the CSOP Saudi Arabia ETF (ticker: 2830.HK) in Hong Kong, which is currently the largest of its kind globally that focuses on Saudi Arabia, with assets under management amounting to approximately HKD 10 billion³. On July 16, 2024, CSOP cross-listed 2830.HK back to Mainland China⁴.

The launch of the Albilad CSOP MSCI Hong Kong China Equity ETF marks another significant milestone for CSOP in its proactive engagement in the financial bilateral collaborations between China and Saudi Arabia. This, in turn, bolsters the evolution of Hong Kong's capital market as a global financial hub.

Looking forward, CSOP will persist in collaborating with business partners to carry out investor education, present top-tier Hong Kong stocks to the investing public of Middle East, and introduce Middle Eastern investments to Hong Kong. This will cultivate a more profound mutual comprehension between China and the Middle East.

The Financial Secretary of the Hong Kong Special Administrative Region, Mr. Paul Chan, stated: "Following the listing of the first ETF investing in the Saudi market in Asia last November in Hong Kong, we are pleased to welcome the listing of the first Saudi ETF investing in Hong Kong stocks launched by CSOP. It provides a convenient investment channel for investors from the Middle East to access the Hong Kong and Mainland Chinese markets, promoting the two-way flow of capital between us and Saudi Arabia, as well as strengthening the connections in our capital markets. As the largest ETF in the Middle East, it will also introduce more international investors and sources of capital to the Hong Kong market, while enriching the investment products available in the Saudi market and supporting the development of its ETF market, creating a win-win situation for both sides."

“Our congratulations to CSOP / Albilad Capital on the launch of Albilad CSOP MSCI Hong Kong China Equity ETF.” Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority said: “This launch is a continuation of the cross-border capital markets collaboration between Hong Kong and Saudi Arabia. As the de facto Central Bank of Hong Kong, Hong Kong Monetary Authority is very glad to play a role in supporting this monumental development and look forward to seeing investors in Saudi to explore our capital market through this fund."

Luanne Lim, Chief Executive Officer, Hong Kong, HSBC said: "Hong Kong has once again demonstrated its role as a leading international financial centre, with 95% of the assets from today's listing set to return to the ETF listed on the Hong Kong Stock Exchange. As the fund administrator of more than 50% of Hong Kong domiciled ETFs, HSBC is pleased to facilitate the movement of capital between Asia and the Middle East, and support CSOP as it expands its global ETF strategy. "

On his part, Mr. Zaid AlMufarih, CEO of Albilad Capital said: "Today, we're not just celebrating the launch of an ETF; we're marking a milestone in financial innovation and international collaboration. This ETF is a testament to our dedication at Albilad Capital to bridge markets, cultures, and economies. By partnering with CSOP, we're opening a new avenue for investors to engage with the dynamic growth of China through Hong Kong, all while adhering to Sharia principles. This initiative is more than an investment opportunity; it's a step towards a more interconnected global financial landscape."

Chen Ding, CEO of CSOP said: “We are delighted and honoured to witness the launch of the first ETF investing in Hong Kong listed China equities on Saudi Exchange, which is a great step forward in connecting China and Saudi capital markets. CSOP has always been committed to enriching the ETF ecosystem in Hong Kong, and now we will continue our efforts to bring products with China exposure to the investors in Middle East area. I would like to express my sincere gratitude to Albilad Capital for its dedicated efforts in bringing the opportunity to invest in China to Saudi Arabia. I would also like to thank SFC and HKMA, as well as our long-time partner HSBC, for their continued support and commitment to the growth of Hong Kong’s ETF industry.”

About CSOP

As a leading ETF manager in Asia, CSOP is committed to facilitating cross-border investment through the provision of efficient and transparent ETF products. CSOP has been a trailblazer in Hong Kong's ETF market, managing 46 ETFs, with 5 consistently ranking among the top 10 most traded ETFs throughout the year*.

CSOP's dedication to cross-border initiatives and partnerships remains steadfast. We are the sole issuer involved in all ETF connectivity programs between Mainland China and Hong Kong SAR. CSOP ETFs represent 75% of the total holdings of southbound investors among eligible Hong Kong-listed ETFs in the ETF Connect**, and over 98% market share in ETF Cross-listing schemes***. We were also the first issuer to participate in the China – Singapore ETF link scheme.

In November 2023, CSOP successfully launched the first Saudi Arabia ETF in Hong Kong, which was warmly welcomed by a diverse group of investors. In July 2024, CSOP cross-listed 2830.HK back to Mainland China, providing mainland investors with the opportunity to invest in high-quality Saudi assets through ETF for the first time.

* Source: Bloomberg, 1/1/2024 - 31/7/2024.

**Source: CCASS, Bloomberg, CSOP. As of 31/8/2024, the asset under management holding of 3033.HK and 3037.HK accounted for 75% of the total southbound investors’ holdings of the total 16 eligible HK-listed ETFs.

*** Source: Bloomberg, 31/7/2024.

Disclaimer: This document is for general information only and do not constitute any kind of advice. Investment involves risks. Investors should refer to the offering document for further details including the risk factors. This document is not applicable in jurisdictions where the distribution of this document is restricted. This document (and information in this document) should not be copied, reproduced, or distributed to any parties without the written consent of CSOP. For the index provider disclaimer, please refer to the product’s offering document. This document is prepared and issued by CSOP and has not been reviewed by the Securities and Futures Commission in Hong Kong.

¹ Source: Albilad Capital，29/10/2024.
² Source: Albilad Capital, 18/9/2024.
³ Source: CSOP, 31/8/2024.
⁴ Source: CSOP, 16/7/2024.


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Contact

For inquiries, please contact:
CSOP Asset Management Limited
Jennifer Li/ +852 3406 5650 / marketing@csopasset.com
Tina Shu / +852 3406 5675 / marketing@csopasset.com

Source : CSOP Asset Management Limited

BLACK & VEATCH PROMOTES SUSTAINABLE WATER MANAGEMENT PRACTICES AT THE INTERNATIONAL MINING AND RESOURCES CONFERENCE (IMARC) 2024

SYDNEY, Oct 29 (Bernama-BUSINESS WIRE) --Asia Pacific’s mining industry can accelerate the adoption of more sustainable water management practices to protect freshwater resources for the local community while ensuring a more resilient and reliable water future, says Black & Veatch, a global leader in critical human infrastructure solutions.

For example in Australia, national science agency CSIRO estimates that mining and other industries use about 20 percent of all water consumed in Australia.

“Proven and readily available water solutions, such as desalination and water recycling, can be designed and engineered to achieve greater energy efficiency, and reduce operational costs and carbon emissions for Asia Pacific’s mining sector, offsetting significant strategic risks,” said Mick Scrivens, vice president, director, Australia Pacific, Black & Veatch. “Partnering to implement these solutions will benefit the environment, local communities, mining companies and the industry overall.”

At the International Mining and Resources Conference (IMARC) 2024, Black & Veatch is convening the conference’s only dedicated session on water management in the mining industry on 30 October.

Hosted by Scrivens and featuring industry leaders and Black & Veatch experts, the session will explore how more resilient sustainability results can be achieved by integrating water planning across all stages of the mine lifecycle. The session also will explore more targeted and affordable investments in appropriate technologies and solutions, and meaningful inclusion of critical stakeholders in the planning and design phases of projects.

Sessions that Black & Veatch leaders will be part of at IMARC 2024 include:

• “Where’s the Water Coming From? The Importance of Infrastructure Planning and Delivery”
  • Brady Hays, senior vice president and executive managing director, Fuels and Natural Resources will be interviewed by Corinne Cheeseman, chief executive officer, Australian Water Association
• “How to Sustainably Manage Water in Mining within Australia”
  • Garrick Field, solutions director, Industrial Water and Mining will convene a panel featuring water leaders from BHP, Legacie, ICMM and the Government of Western Australia.
• “Getting Projects Out of the Ground and Off the Ground Faster”
  • Jonathan Dunham, associate vice president and managing director, Mining and Metals, will participate in the panel discussion.

IMARC 2024 is taking place 29-31 October in Sydney.

Black & Veatch’s multi-disciplinary capabilities to deliver integrated water and energy solutions span the full project delivery chain and are proven by a track record of diverse projects delivered to utilities, governments and industry. In Australia, Black & Veatch has a strong track record of partnering with clients and communities to deliver quality services to water utilities, including award-winning projects such as the Bundamba Advanced Water Treatment Project that supported the nation’s response to the millennium drought.

Contact Black & Veatch for more information.

About Black & Veatch

Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Follow us on www.bv.com and on LinkedIn, Facebook, X (Twitter) and Instagram.

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Contact

Media Contact Information:
EMILY CHIA | +65 6335 6623 | Chialp@bv.com
24-HOUR MEDIA EMAIL | Media@bv.com

Source : Black & Veatch

Angelini Pharma, Cureverse To Develop And Commercialise Clinical Stage Brain Health Asset

KUALA LUMPUR, Oct 21 (Bernama) -- Angelini Pharma, part of the privately owned Angelini Industries, and Cureverse Inc, an early-stage research and development company, announced they entered into an exclusive global option agreement for the development and commercialisation of Cureverse’s innovative brain health asset CV-01.

Under the terms of the agreement, Angelini Pharma will lead all the development efforts for CV-01 and, following an initial option period, will have the right to obtain the global exclusive development and commercialisation licence for the compound outside of the Republic of Korea, China, Hong Kong, Macau and Taiwan.

“Our strategic collaboration with Cureverse further strengthens Angelini Pharma’s position as an emerging leader in brain health.

“Through the development of CV-01 and potentially other compounds, we aim to provide much-needed solutions for people living with brain health conditions across the world,” said  Angelini Pharma Chief Executive Officer (CEO), Jacopo Andreose in a statement.

Meanwhile, Cureverse Inc CEO, Sung Jin Cho said: “Our research has unveiled the remarkable potential of CV-01 to transform the landscape of brain health, from epilepsy to Alzheimer’s and Parkinson’s diseases. We are truly delighted to be partnering with Angelini Pharma on this journey.

“Their deep therapeutic expertise and commitment to brain health perfectly align with our vision. Together, we are not just developing a treatment, we are paving the way for a future where patients with neurological conditions have access to truly life-changing therapies,” he added.

Cureverse will receive an upfront payment and will also be eligible to receive additional payments upon pre-defined development and commercial milestones of up to approximately US$360 million, as well as tiered royalties on post-approval net sales. (US$1=RM4.29)

CV-01 is a novel and innovative investigational compound that activates protective pathways regulated by the nuclear factor erythroid 2-related factor 2 (Nrf2) and has a strong potential to be a medication with disease-modifying properties across a range of brain health disorders, including epilepsy.

Being developed by Cureverse for Alzheimer’s disease, CV-01 is an investigational compound currently undergoing a Phase 1 clinical trial in the Republic of Korea.

-- BERNAMA

QUANTEXA EARNS RECOGNITION IN CHARTIS RISKTECH QUADRANT FOR KYC SOLUTIONS

KUALA LUMPUR, Oct 22 (Bernama) -- Quantexa, a provider of Decision Intelligence solutions for public and private sectors, has received recognition in two Chartis Research reports.

Highlighting its market presence, innovation, and leadership in risk and compliance, Quantexa was named a category leader in the RiskTech Quadrant for Know Your Customer (KYC) Solutions and ranked among the top 20 in the RiskTech100 2025 Report.

“Being recognised as a leader in the Chartis RiskTech Quadrant for KYC solutions underscores Quantexa's commitment to addressing the evolving challenges in the KYC landscape.

“By leveraging advanced analytics and artificial intelligence (AI), we are able to help financial institutions not only streamline their onboarding processes but also enhance their ongoing risk assessment capabilities,” said its Chief Product Officer (FinCrime), Alexon Bell in a statement.

Meanwhile, Chartis Senior Research Specialist, Ahmad Kataf said Quantexa continued to expand and enhance its solution, while retaining its core strengths in entity resolution and complex corporate structures.

“It has also enhanced its natural language processing capabilities and perpetual KYC/continuous monitoring, a development that, combined with strong growth, is reflected in its category leader position in our KYC Solutions quadrant,” he added.

Quantexa's status as a Category Leader for KYC Solutions highlights its effective technology for future risk management, demonstrating its natural language processing capabilities and perpetual KYC (pKYC) monitoring.

The recognition underscores how its offering has evolved while retaining its foundation of high-quality entity resolution and complex corporate structures.

Quantexa was also recognised for its risk technology in the RiskTech100 2025 Report, showcasing consistent improvement and innovation in overall risk technology capabilities.

More specifically, the report highlighted Quantexa’s dominance in finance and government operations with strong scores for its ‘core technology’ and ‘innovation’, underscoring its commitment to developing cutting-edge risk solutions.

-- BERNAMA

HEMOHIM MANUFACTURER KOLMAR BNH RECEIVES NAI CLASSIFICATION FROM THE US FDA

^{HemoHIM G, manufactured by Kolmar BNH and distributed by Atomy (Image: Kolmar BNH)}


SEOUL, South Korea, Oct 22 (Bernama-BUSINESS WIRE) -- ‘HemoHim,’ an immune-boosting health supplement from Kolmar BNH (KRX: 200130), has earned international recognition for its quality from both the U.S. Food and Drug Administration (FDA) and Australia’s Therapeutic Goods Administration (TGA), enhancing its credibility in the global marketplace.

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Kolmar BNH announced that its Sejong plant obtained a No Action Indicated (NAI) classification following an inspection by the U.S. FDA in September. This classification, which confirms that the facility fully complies with U.S. Current Good Manufacturing Practice (cGMP) standards for quality control, has further intensified Kolmar BNH’s competitiveness as a leading global Original Development Manufacturer (ODM) in the health supplement industry.

The FDA inspection was conducted to evaluate Kolmar BNH’s quality management capabilities, particularly in response to the increasing exports of HemoHim to the U.S. The NAI classification reflects a comprehensive evaluation of key factors, including manufacturing processes, hygiene standards, quality control procedures, and employee training. HemoHim, a low-acid liquid dietary supplement, underwent extensive testing, including assessments of raw material quality management, pH levels, and stability, to achieve perfect scores across all these criteria.

HemoHim’s quality has previously been recognized in Australia, where the Sejong plant obtained Good Manufacturing Practice (GMP) certification from the TGA in 2021. The TGA, responsible for regulating pharmaceuticals and healthcare products (health supplements) in Australia, issues GMP certification based on an extensive evaluation of product efficacy, safety, and the suitability of the production processes. Furthermore, under the Mutual Recognition Arrangement (MRA) between Australia and Europe, products certified by the TGA benefit from streamlined export procedures within Europe.

To meet the Australian TGA’s GMP standards, Kolmar BNH implemented a Standard Operating Procedure (SOP) at the Sejong plant that aligns with international GMP guidelines for pharmaceutical production and quality control. The company also introduced a real-time production monitoring system and conducted quality tests that far exceeded Korean regulatory standards, ensuring defect-free products. Through these combined efforts, the company earned recognition for its reliable pharmaceutical quality.

Building on its success with FDA and TGA certifications, Kolmar BNH plans to expedite HemoHim's expansion into global markets. Launched in 2006, HemoHim is Korea’s first individually approved immune-boosting supplement, made from Korean natural ingredients such as Angelica gigas, Cnidium officinale, and Paeonia japonica. Distributed by Atomy, one of Kolmar BNH’s key partners, the product is currently exported to approximately 20 countries, including the United States and China. Since its debut, HemoHim has generated over KRW 2 trillion in cumulative sales, both at home and abroad, with an unprecedented export record of over USD 200 million. It has maintained its position as the top-selling product in the immune-boosting health supplement category in Korea for more than a decade.

An official from Kolmar BNH said, “The U.S. FDA’s inspection is a critical benchmark for ensuring product safety and efficacy through a thorough and organized process. Receiving a No Action Indicated (NAI) classification is a significant achievement for Kolmar BNH, as it validates the quality of our products on the global stage. We are committed to enhancing our competitiveness in global markets through ongoing quality innovation and additional global certifications, with HemoHim at the forefront of our efforts.”

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Contact

Kolmar Holdings
Jang Woo Lee
jay.lee@kolmar.co.kr

Source : Kolmar BNH Co., Ltd.

Singapore-based Talendy Holdings To Grow Asia Pacific Businesses

KUALA LUMPUR, Oct 17 (Bernama) -- Tech Japan, a human resources (HR) tech venture specialising in recruitment platform solutions called “Talendy” for highly skilled Indian talent in the technology sector, has announced the establishment of Talendy Holdings in Singapore.

With a specific focus on Singapore, Taiwan, and South Korea, this strategic move aims to strengthen Tech Japan's presence in the East Asia region and reinforces the company's commitment to fostering growth and innovation through diverse talent networks.

Tech Japan Chief Executive Officer, Naotaka Nishiyama said the launch in Singapore marked a critical step in the company’s strategy to support digital transformation across Asia.

“Our presence in Singapore will allow us to better serve our clients in the region and facilitate the integration of highly skilled Indian talent into leading tech ecosystems in Singapore, Taiwan, and South Korea,” he said in a statement.

Talendy engages in strategic design for global engineering organisation and system development, provides recruitment support using its platform, leverages employer of record (EOR) schemes for talent acquisition without bound by the location of the country of incorporation, and manages the establishment and operations of Global Capability Centers (GCCs) in India.

In addition, this expansion offers an opportunity for technology talent in India to extend their reach beyond Japan to Taiwan, South Korea, and Singapore, thereby broadening their scope of influence and opportunities.

Operating under the mission "Accelerate digitalisation through the power of diversity, creating a richer society", Tech Japan has pioneered platforms that connect Japanese companies with prestigious Indian institutions, notably the Indian Institutes of Technology (IIT).

The formation of Talendy Holdings will build on these foundations, aiming to streamline and expand talent acquisition processes in key Asian markets, while the creation of its platform was originally from the "India-Japan Placement Working Group" maintained by Tech Japan with the Ministry of Economy, Trade and Industry and the Embassy of India in Japan.

Furthermore, Talendy Holdings plans to explore partnerships with local universities and engage in community-based talent development initiatives, thereby contributing to the dynamic business ecosystem of Singapore.

-- BERNAMA

DUCK CREEK TECHNOLOGIES NAMED LEADER IN P&C INSURANCE TECHNOLOGY SPACE BY GARTNER

KUALA LUMPUR, Oct 18 (Bernama) -- Duck Creek Technologies, an intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry, has been positioned by Gartner as a Leader in the 2024 Gartner “Magic Quadrant for SaaS P&C Core Platforms, North America”.

According to a statement, the evaluation was based on specific criteria that analysed the company’s overall completeness of vision and ability to execute.

Duck Creek Technologies Chief Executive Officer, Michael Jackowski said the company is honoured to be recognised again this year by Gartner as a Leader in the P&C insurance technology space.

He explained that the company’s low-code, configurable software as a service (SaaS) platform helps insurance carriers stand out in today's competitive market.

“We continue to enhance our platform through AI, machine learning and by bringing new solutions to carriers, including Payments Facilitator, to grow their business with speed, efficiency and an excellent customer experience.

“As we look ahead, we will continue to enrich our platform by providing more for carriers to stay ahead of their competition including eliminating upgrades through Active Delivery and increasing efficiency and scalability with multi-tenancy,” said Jackowski.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of providers in markets where growth is high and provider differentiation is distinct.

Providers are positioned into four quadrants, namely Leaders, Challengers, Visionaries and Niche Players. The research enables businesses to get the most from market analysis in alignment with their unique business and technology needs.

-- BERNAMA