KUALA LUMPUR, Oct 29 -- VaultID Group Ltd has created a financial and digital footprint for the ‘unbanked’ population via its application ‘myVault’, allowing remittance transfers to Timor-Leste.
The application enables the onboarding of potential consumers via a mix of traditional KYC/AML systems, enhanced with biometric image to document scanning and in-government official witness attestation.
Approximately one-third of the Timor-Leste population, currently excluded from participation due to lack of identification, can now be onboarded to allow seamless, verification remittance transfers.
This will be powered by ‘myVault’ biometric and witness attestation verification products which include facial matching and optical character recognition biometrics.
VaultID Group Ltd chief executive officer, Jason Edwards said: “Through ‘myVault’, we have extended traditional KYC to a new eKYC offering which includes Self-Sovereign Identity; the consumer has control, sole ownership and management of their digital identity as well as how their data is stored, shared or used for verification.
“With accurate consumer details, official attestation, biometric matching and traditional documentation, myVault is a new paradigm in APAC consumer onboarding for financial service providers.”
-- BERNAMA
Thursday 31 October 2019
AM Best releases report on ASEAN insurance market development
KUALA LUMPUR, Oct 31 -- The development of insurance markets in the Association of Southeast Asian Nations (ASEAN) member states has gone hand-in-hand with these countries’ economic growth, and significant potential for future growth remains, according to AM Best.
The credit rating agency in its new Best’s Special Report, ‘ASEAN - Favorable Demographics and Development Boost Economic Growth’ states economic development in the region has led to an increase in premium growth and the momentum is likely to continue.
Between 2008 and 2018, ASEAN total GDP, as a percentage of the world’s GDP, increased to 3.4 per cent from 2.5 per cent, and it is expected to grow to 3.8 per cent by 2023.
ASEAN has 10 member countries; however, the five largest economies among the 10 members -- Indonesia, Malaysia, the Philippines, Singapore and Thailand - contribute 88 per cent of ASEAN's total GDP.
Current trade uncertainty has been a headwind to growth, but accommodative monetary and fiscal policies have been able to mitigate the slowdown partially.
ASEAN’s total premiums were US$92.1 billion in 2017, according to industry reports, compared with US$15.8 billion in 1997. However, despite this growth, insurance penetration in the region remains low. (US$1 = RM4.18)
In 2017, the average insurance penetration for the region was 3.6 per cent, with the highest rate in Singapore (8.6 per cent).
While this represents a significant gap in insurance protection, it also highlights the significant opportunities for development in the future. Continuing economic and financial sector growths will help the insurance industry grow correspondingly.
-- BERNAMA
Wednesday 30 October 2019
WESTERN UNION EXPANDS ITS GLOBAL PLATFORM NOW TO NEW PARTNERS IN ASIA
Japan’s KYODAI Remittance and Korea’s Fintech Hanpass Money Transfer Companies Will Now Use Western Union’s Global Network
DENVER & TOKYO & SEOUL, South Korea Oct 23 (Bernama-BUSINESS WIRE)--Western Union, a leader in cross-border, cross-currency money movement and payments, today further expanded its white label offerings* to Asia enabling customers of third-party money transfer companies to pay out through Western Union.
Customers of Japan’s oldest remittance company KYODAI Remittance, a service of Unidos Co., Ltd., and Korea’s leading fintech company Hanpass, became the latest collaborators to move funds globally through Western Union. Their customers may choose to pay out into billions of bank accounts in more than 100 countries, millions of wallets in a dozen countries or the Western Union® retail Agent network across 200 countries and territories.
Western Union has opened its cross-border platform to power other brands to move money and enable international cross-border payments in minutes by leveraging its core cross-border assets – including global settlement capabilities, compliance, operations, network, and technology systems.
During his visit to Asia, Hikmet Ersek, CEO, Western Union said, “More global brands are turning to Western Union for cross-border money transfer solutions that provide their customers the ability to transfer money quickly and reliably to almost anywhere in the world. The expansion of our open platform initiative into Asia with leading financial institutions is a decisive step towards the execution of our strategy to tap into incremental growth opportunities.”
KYODAI Remittance and Hanpass join a growing group of leading global and national brands that have partnered with Western Union to expand or enhance cross-border money transfer and payment capabilities for their customers. Other platform partnerships include:
DENVER & TOKYO & SEOUL, South Korea Oct 23 (Bernama-BUSINESS WIRE)--Western Union, a leader in cross-border, cross-currency money movement and payments, today further expanded its white label offerings* to Asia enabling customers of third-party money transfer companies to pay out through Western Union.
Customers of Japan’s oldest remittance company KYODAI Remittance, a service of Unidos Co., Ltd., and Korea’s leading fintech company Hanpass, became the latest collaborators to move funds globally through Western Union. Their customers may choose to pay out into billions of bank accounts in more than 100 countries, millions of wallets in a dozen countries or the Western Union® retail Agent network across 200 countries and territories.
Western Union has opened its cross-border platform to power other brands to move money and enable international cross-border payments in minutes by leveraging its core cross-border assets – including global settlement capabilities, compliance, operations, network, and technology systems.
During his visit to Asia, Hikmet Ersek, CEO, Western Union said, “More global brands are turning to Western Union for cross-border money transfer solutions that provide their customers the ability to transfer money quickly and reliably to almost anywhere in the world. The expansion of our open platform initiative into Asia with leading financial institutions is a decisive step towards the execution of our strategy to tap into incremental growth opportunities.”
KYODAI Remittance and Hanpass join a growing group of leading global and national brands that have partnered with Western Union to expand or enhance cross-border money transfer and payment capabilities for their customers. Other platform partnerships include:
- Kenya’s leading mobile network operator Safaricom enables its over 23 million largely unbanked M-PESA mobile wallet users to transfer money globally from their wallets.
- Korea’s leading bank KEB Hana Bank enables its foreign national customers to move money from its app across the world through Western Union.
- Russia’s major bank, Sberbank, allows its over 50 million customers to send money from its app to the world.
- Saudi Telecom’s STC Pay allows its 2.5 million app users to send money from its app to the world.
These collaborations with KYODAI Remittance and Hanpass are live today with payout functionality available immediately.
WU-G
*Payout at Western Union Agent locations
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of June 30, 2019, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in more than 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.
About Kyodai
Kyodai Remittance is the brand name of Unidos. Co, Ltd. Unidos was established in 2000 to support home money transfer for the Peruvian community in Japan. Under the Funds Settlement Act in 2010, Unidos was registered as a money transfer company (Registration: Money Transfer Agent Kanto Regional Financial Bureau 00004) and started the service "KYODAI REMITTANCE" for all nationalities in Japan to all destinations in the world.
Since then, Unidos has provided a fast and safe remittance service to customers built around confidence, respect, know-how and experience. Unidos' greatly diversified international staff communicate directly to each community in its own language and demonstrate a key understanding of differing cultures.
The company's headquarters are in Shinjuku, Tokyo, Japan. A face-to-face remittance service is provided in 18 locations in Japan so far.
About Hanpass
Hanpass is a leading Korean fintech company providing remittance and O2O currency exchange services via mobile app services. Hanpass enables its users to safely send money across borders without going through the hassle of making local bank accounts and physically going through identification process by simply completing mobile identification process. Moreover, Hanpass differentiated itself from traditional banks using SWIFT network to wire transfer by forming strategic alliance with MTO (Money Transfer Operator) partners like Western Union, which significantly reduced the time required to send money out of the country from 3~5 days to an almost instant transfer with much lower fees. With solid industry experience and knowhow along with global financial network base, Hanpass is sprinting towards becoming a true global platform offering an effortless cross border remittance, currency exchange and cross border payment experience for customers.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191023005323/en/
Contact
Western Union Global Communications and Social Channels
Pia De Lima, Pia.DeLima@westernunion.com
Western Union Middle East, Africa, Asia-Pacific
Karen Santos, Karen.Santos2@westernunion.com
Source : The Western Union Company
--BERNAMA
WU-G
*Payout at Western Union Agent locations
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of June 30, 2019, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in more than 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.
About Kyodai
Kyodai Remittance is the brand name of Unidos. Co, Ltd. Unidos was established in 2000 to support home money transfer for the Peruvian community in Japan. Under the Funds Settlement Act in 2010, Unidos was registered as a money transfer company (Registration: Money Transfer Agent Kanto Regional Financial Bureau 00004) and started the service "KYODAI REMITTANCE" for all nationalities in Japan to all destinations in the world.
Since then, Unidos has provided a fast and safe remittance service to customers built around confidence, respect, know-how and experience. Unidos' greatly diversified international staff communicate directly to each community in its own language and demonstrate a key understanding of differing cultures.
The company's headquarters are in Shinjuku, Tokyo, Japan. A face-to-face remittance service is provided in 18 locations in Japan so far.
About Hanpass
Hanpass is a leading Korean fintech company providing remittance and O2O currency exchange services via mobile app services. Hanpass enables its users to safely send money across borders without going through the hassle of making local bank accounts and physically going through identification process by simply completing mobile identification process. Moreover, Hanpass differentiated itself from traditional banks using SWIFT network to wire transfer by forming strategic alliance with MTO (Money Transfer Operator) partners like Western Union, which significantly reduced the time required to send money out of the country from 3~5 days to an almost instant transfer with much lower fees. With solid industry experience and knowhow along with global financial network base, Hanpass is sprinting towards becoming a true global platform offering an effortless cross border remittance, currency exchange and cross border payment experience for customers.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191023005323/en/
Contact
Western Union Global Communications and Social Channels
Pia De Lima, Pia.DeLima@westernunion.com
Western Union Middle East, Africa, Asia-Pacific
Karen Santos, Karen.Santos2@westernunion.com
Source : The Western Union Company
--BERNAMA
Tuesday 29 October 2019
JUMIO RECOGNISED AGAIN IN GARTNER’S 'MARKET GUIDE FOR IDENTITY PROOFING AND CORROBORATION'
KUALA LUMPUR, Oct 22 (Bernama) -- Jumio, the leading AI-powered trusted identity as a service provider has been recognised as a Representative Vendor in Gartner’s latest ‘Market Guide for Identity Proofing and Corroboration’ for the second consecutive year.
Representative Vendors were selected on the basis of one or both of the following: frequent inquiry by Gartner clients about that vendor for identity proofing use cases, vendor offers capabilities supporting identity proofing and corroboration in a way that is unique, innovative and/or demonstrates a forward-looking product strategy.
A key finding of the Market Guide states: “Unrelenting breaches of personal data, as well as usernames and passwords, continue. Given this trend and emerging attack vectors such as synthetic identity fraud, enterprises must move to continuous, risk-based assessment of any claimed identity, both at the establishment of a relationship and in every subsequent interaction.”
Another important finding within the report notes: “There continues to be increased overlap between authentication, identity proofing and fraud detection use cases, leading to blurred lines in terms of internal responsibilities and vendor capabilities.”
Jumio enables modern enterprises to leverage the same biometric — a 3D face map — for initial identity proofing and ongoing user authentication, offering a viable alternative to knowledge-based verification and authentication methodologies.
By using the same biometric upfront and an ongoing basis, organisations can more effectively establish an identity corroboration hub and reliably assess the digital identities of remote users.
More information at https://www.jumio.com.
-- BERNAMA
Representative Vendors were selected on the basis of one or both of the following: frequent inquiry by Gartner clients about that vendor for identity proofing use cases, vendor offers capabilities supporting identity proofing and corroboration in a way that is unique, innovative and/or demonstrates a forward-looking product strategy.
A key finding of the Market Guide states: “Unrelenting breaches of personal data, as well as usernames and passwords, continue. Given this trend and emerging attack vectors such as synthetic identity fraud, enterprises must move to continuous, risk-based assessment of any claimed identity, both at the establishment of a relationship and in every subsequent interaction.”
Another important finding within the report notes: “There continues to be increased overlap between authentication, identity proofing and fraud detection use cases, leading to blurred lines in terms of internal responsibilities and vendor capabilities.”
Jumio enables modern enterprises to leverage the same biometric — a 3D face map — for initial identity proofing and ongoing user authentication, offering a viable alternative to knowledge-based verification and authentication methodologies.
By using the same biometric upfront and an ongoing basis, organisations can more effectively establish an identity corroboration hub and reliably assess the digital identities of remote users.
More information at https://www.jumio.com.
-- BERNAMA
Monday 28 October 2019
RIMES Technologies opens Manila office to support global customers
KUALA LUMPUR, Oct 21 -- RIMES Technologies, a managed data and RegTech solutions provider today opened its new office in Manila, Philippines.
The new facility will operate on multiple shift patterns, augmenting RIMES’ proven ability to deliver 24/7 support to global customers, according to a statement.
“The Manila hub centralised many of the complex data referencing tasks that underpin our services and will prove essential in helping our customers overcome many of the major data management and regulatory challenges they currently face,” said RIMES chief executive officer and co-founder, Christian Fauvelais.
The operational support hub will provide customers access to client services, data analysis, performance analysis and IT skills needed to run their data management and compliance operations.
The facility builds on RIMES’ extensive Asia Pacific footprint, which has been established for more than a decade and includes sales and support offices in Singapore, Shanghai and Sydney.
More information at https://www.rimes.com.
-- BERNAMA
The new facility will operate on multiple shift patterns, augmenting RIMES’ proven ability to deliver 24/7 support to global customers, according to a statement.
“The Manila hub centralised many of the complex data referencing tasks that underpin our services and will prove essential in helping our customers overcome many of the major data management and regulatory challenges they currently face,” said RIMES chief executive officer and co-founder, Christian Fauvelais.
The operational support hub will provide customers access to client services, data analysis, performance analysis and IT skills needed to run their data management and compliance operations.
The facility builds on RIMES’ extensive Asia Pacific footprint, which has been established for more than a decade and includes sales and support offices in Singapore, Shanghai and Sydney.
More information at https://www.rimes.com.
-- BERNAMA
Taconic Biosciences adds Dr Frank Sistare to Scientific Advisory Board
KUALA LUMPUR, Oct 18 -- Taconic Biosciences, a global leader in providing drug discovery animal model solutions has added Dr Frank Sistare to its Scientific Advisory Board (SAB).
Dr Sistare joins existing SAB members Andrew Goodman, PhD; David Hill, PhD; and Robert Rosenthal, PhD, according to a statement.
The SAB will continue to collaborate with Taconic’s management in providing scientific insight and guidance on the evolution of its product and service portfolio.
Dr Sistare’s extensive career and expertise in the field of toxicology complements the standing board members as it provides expertise in microbiome, oncology and toxicology spaces to drive Taconic’s innovation in these and other research areas.
“We welcome Dr Sistare and his deep experience as Taconic continues developing solutions that are more precise and relevant to human clinical outcomes,” shared Taconic Biosciences chief executive officer, Nancy J. Sandy.
Dr Sistare has served for the past 16 years as executive director, associate vice-president and scientific associate vice-president within safety assessment and laboratory animal resources at Merck Research Laboratories.
He earned his BS in Pharmacy from the University of Rhode Island, PhD in Pharmacology at the University of Virginia, and was awarded a postdoctoral PRAT Fellowship at the National Institutes of Health.
-- BERNAMA
Dr Sistare joins existing SAB members Andrew Goodman, PhD; David Hill, PhD; and Robert Rosenthal, PhD, according to a statement.
The SAB will continue to collaborate with Taconic’s management in providing scientific insight and guidance on the evolution of its product and service portfolio.
Dr Sistare’s extensive career and expertise in the field of toxicology complements the standing board members as it provides expertise in microbiome, oncology and toxicology spaces to drive Taconic’s innovation in these and other research areas.
“We welcome Dr Sistare and his deep experience as Taconic continues developing solutions that are more precise and relevant to human clinical outcomes,” shared Taconic Biosciences chief executive officer, Nancy J. Sandy.
Dr Sistare has served for the past 16 years as executive director, associate vice-president and scientific associate vice-president within safety assessment and laboratory animal resources at Merck Research Laboratories.
He earned his BS in Pharmacy from the University of Rhode Island, PhD in Pharmacology at the University of Virginia, and was awarded a postdoctoral PRAT Fellowship at the National Institutes of Health.
-- BERNAMA
Friday 25 October 2019
World wants bigger chunk of fresh meat, forecast annual growth
KUALA LUMPUR, Oct 17 -- Fresh meat represents 89 per cent of the total volume of meat sold globally and it is projected to grow by two per cent annually through 2023.
Euromonitor International has released the findings during its webinar ‘The future of meat: is consumption really decreasing?’, according to a statement.
“While environmental, health and ethical motives are driving consumers to cut back on meat in some developed markets, global meat sales are growing, mostly driven by demand in developing nations,” said Euromonitor International industry manager (food and nutrition), Tom Rees.
According to Euromonitor International’s health and nutrition survey, 21 per cent of the surveyed global consumers are trying to limit their meat intake, driving sales of global meat substitutes to reach US$23 billion by 2023. (US$1 = RM4.19)
Western Europe shows the slowest growth in total volume sales, both in fresh and processed meat, at 0.1 per cent and -0.1 per cent, respectively, through 2023.
In addition, Middle East and Africa recorded the most impressive growth at over four per cent through 2023, while in Asia Pacific, demand continues to grow as consumers relate meat consumption to health and social status.
Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. More information at https://www.euromonitor.com.
-- BERNAMA
Euromonitor International has released the findings during its webinar ‘The future of meat: is consumption really decreasing?’, according to a statement.
“While environmental, health and ethical motives are driving consumers to cut back on meat in some developed markets, global meat sales are growing, mostly driven by demand in developing nations,” said Euromonitor International industry manager (food and nutrition), Tom Rees.
According to Euromonitor International’s health and nutrition survey, 21 per cent of the surveyed global consumers are trying to limit their meat intake, driving sales of global meat substitutes to reach US$23 billion by 2023. (US$1 = RM4.19)
Western Europe shows the slowest growth in total volume sales, both in fresh and processed meat, at 0.1 per cent and -0.1 per cent, respectively, through 2023.
In addition, Middle East and Africa recorded the most impressive growth at over four per cent through 2023, while in Asia Pacific, demand continues to grow as consumers relate meat consumption to health and social status.
Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. More information at https://www.euromonitor.com.
-- BERNAMA
TomTom launches second generation Road Event Reporter
KUALA LUMPUR, Oct 17 -- TomTom, the location technology specialist has launched its second generation, Road Event Reporter for reporting road closures, works and events.
The TomTom Road Event Reporter is an easy-to-use web-based application that allows road authorities and trusted partners to help drivers avoid unnecessary delay and frustration by reporting current and upcoming road events.
The free-to-use application is a map-based tool which allows the visualisation of traffic flow and incidents. It is available in the 81 countries where TomTom provides real-time traffic information.
According to TomTom Traffic and Travel Information vice-president, Ralf-Peter Schäfer, government agencies, automotive and logistics customers, as well as drivers in general, rely on its real-time traffic information to keep moving.
“That’s why we’ve developed our next-generation Road Event Reporter tool which is even more intuitive for cities and road authorities to use,” said Schäfer.
With Road Event Reporter, cities and road authorities can announce roadworks in time for drivers to find new routes and prevent congestion from forming.
It also enables event organisers to announce races, festivals or street markets that might disrupt traffic.
Headquartered in Amsterdam with offices in 30 countries, TomTom’s technologies are trusted by hundreds of millions of people worldwide. More information at https://www.tomtom.com.
-- BERNAMA
The TomTom Road Event Reporter is an easy-to-use web-based application that allows road authorities and trusted partners to help drivers avoid unnecessary delay and frustration by reporting current and upcoming road events.
The free-to-use application is a map-based tool which allows the visualisation of traffic flow and incidents. It is available in the 81 countries where TomTom provides real-time traffic information.
According to TomTom Traffic and Travel Information vice-president, Ralf-Peter Schäfer, government agencies, automotive and logistics customers, as well as drivers in general, rely on its real-time traffic information to keep moving.
“That’s why we’ve developed our next-generation Road Event Reporter tool which is even more intuitive for cities and road authorities to use,” said Schäfer.
With Road Event Reporter, cities and road authorities can announce roadworks in time for drivers to find new routes and prevent congestion from forming.
It also enables event organisers to announce races, festivals or street markets that might disrupt traffic.
Headquartered in Amsterdam with offices in 30 countries, TomTom’s technologies are trusted by hundreds of millions of people worldwide. More information at https://www.tomtom.com.
-- BERNAMA
AM Best gives Marble Reinsurance Corporation excellent rating
KUALA LUMPUR, Oct 17 -- AM Best has affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ of Marble Reinsurance Corporation (Marble Re) Micronesia.
The stable outlook of these credit ratings reflects Marble Re’s balance sheet strength, which AM Best categorised as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
It also reflects AM Best’s expectation that Marble Re’s operating performance will remain at a strong level, underpinned mainly by favourable claims experience and an expense ratio that should remain stable over time.
Marble Re’s balance sheet assessment is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio and it is expected to remain stable, supported by low underwriting leverage and a conservative investment portfolio.
Marble Re’s favourable operating results are demonstrated by a five-year average return on equity of approximately 15 per cent, driven primarily by its good underwriting results, with a five-year average combined ratio of under 60 per cent (2014 to 2018).
The company’s business profile is assessed as neutral; its underwriting portfolio is composed mainly of marine cargo and hull business from affiliated and related companies within the Marubeni Group, one of the largest trading companies in Japan.
AM Best is a global credit rating agency and information provider with an exclusive focus on the insurance industry. More information at www.ambest.com.
-- BERNAMA
The stable outlook of these credit ratings reflects Marble Re’s balance sheet strength, which AM Best categorised as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
It also reflects AM Best’s expectation that Marble Re’s operating performance will remain at a strong level, underpinned mainly by favourable claims experience and an expense ratio that should remain stable over time.
Marble Re’s balance sheet assessment is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio and it is expected to remain stable, supported by low underwriting leverage and a conservative investment portfolio.
Marble Re’s favourable operating results are demonstrated by a five-year average return on equity of approximately 15 per cent, driven primarily by its good underwriting results, with a five-year average combined ratio of under 60 per cent (2014 to 2018).
The company’s business profile is assessed as neutral; its underwriting portfolio is composed mainly of marine cargo and hull business from affiliated and related companies within the Marubeni Group, one of the largest trading companies in Japan.
AM Best is a global credit rating agency and information provider with an exclusive focus on the insurance industry. More information at www.ambest.com.
-- BERNAMA
Lithium Werks prioritises watertight safety in marine technology
KUALA LUMPUR, Oct 17 -- Serving the marine sector for over a decade, Lithium Werks has seen the market transition from small lithium batteries in racing yachts to large battery systems in ferries and work vessels.
Lithium Werks does not use nickel-manganese-cobalt (NMC) as a battery technology but instead, sells safer lithium iron phosphate (LFP) technology.
NMC is much more prone to extreme events such as thermal runaway than Lithium Werks’ LFP chemistry.
Additionally, Lithium Werks’ modules use smaller cylindrical cells, making the energy released is minimal compared to the large format NMC cells. This further increases the safety of its battery system.
Lithium Werks has spent over 20 years perfecting its LFP chemistry to now provide the perfect combination of inherent safety, power and energy density, along with class-leading lifetime in a modular, scalable package that does not require complex cooling systems.
More details at https://lithiumwerks.com
-- BERNAMA
Lithium Werks does not use nickel-manganese-cobalt (NMC) as a battery technology but instead, sells safer lithium iron phosphate (LFP) technology.
NMC is much more prone to extreme events such as thermal runaway than Lithium Werks’ LFP chemistry.
Additionally, Lithium Werks’ modules use smaller cylindrical cells, making the energy released is minimal compared to the large format NMC cells. This further increases the safety of its battery system.
Lithium Werks has spent over 20 years perfecting its LFP chemistry to now provide the perfect combination of inherent safety, power and energy density, along with class-leading lifetime in a modular, scalable package that does not require complex cooling systems.
More details at https://lithiumwerks.com
-- BERNAMA
Thursday 24 October 2019
Dah Sing Insurance Company Credit Ratings affirmed - AM Best
KUALA LUMPUR, Oct 24 -- AM Best has affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ of Dah Sing Insurance Company (1976) Limited (DSI) Hong Kong.
In a statement, the global rating agency said the outlook of these credit ratings was stable.
The ratings reflect DSI’s balance sheet strength, which AM Best described 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 from Dah Sing Financial Holdings Limited (DSFH) in terms of capital, brand recognition, business development, product distribution, risk management and operations.
In tandem with strengthened capital and surplus following a large capital injection of HKD1.35 billion (US$173 million) from DSFH in 2017, DSI has increased its exposure to investment risk materially over the past two years. (US$1 = RM4.19)
As of last year-end, equity investments accounted for approximately half of the company’s investment portfolio.
AM Best expects the company’s risk-adjusted capitalisation to remain robust over the short to intermediate term and supportive of the increase in asset and underwriting risks from business expansion.
As a small- to medium-sized player in Hong Kong’s non-life insurance segment, DSI achieved gross premium written of HKD428.5 million (US$54.7 million) last year.
-- BERNAMA
-- BERNAMA
Efinix® to showcase Trion® MIPI solutions in Taipei
KUALA LUMPUR, Oct 16 -- Efinix®, an innovator in programmable product platforms and technologies will demonstrate its solutions at MIPI DevCon Taipei on Oct 18.
Efinix MIPI-enabled Trion FPGAs are flexible and programmable platforms that can perform complex video processing for mobile, machine vision, robotics, automotive and surveillance applications.
Trion FPGAs are designed and developed to deliver high volume production of cutting-edge products and applications in edge, compute and acceleration.
At its core is Efinix’s Quantum™ architecture, the solutions deliver low power, small form factor and cost advantages.
Trion FPGAs with MIPI support a range of applications from simple bridging and to complete AI applications.
They can synchronise and process images from multiple cameras or sensors, as well as act as a pre-processing hub or hardware accelerator in a bigger system.
The Trion T20 MIPI Development Kit with an example design using a Raspberry Pi board and camera is available now on https://www.efinixinc.com/t20mipi
-- BERNAMA
Efinix MIPI-enabled Trion FPGAs are flexible and programmable platforms that can perform complex video processing for mobile, machine vision, robotics, automotive and surveillance applications.
Trion FPGAs are designed and developed to deliver high volume production of cutting-edge products and applications in edge, compute and acceleration.
At its core is Efinix’s Quantum™ architecture, the solutions deliver low power, small form factor and cost advantages.
Trion FPGAs with MIPI support a range of applications from simple bridging and to complete AI applications.
They can synchronise and process images from multiple cameras or sensors, as well as act as a pre-processing hub or hardware accelerator in a bigger system.
The Trion T20 MIPI Development Kit with an example design using a Raspberry Pi board and camera is available now on https://www.efinixinc.com/t20mipi
-- BERNAMA
GAS ENTEC SECURES IMPORTANT CONTRACT TO DESIGN AND BUILD THE CARGO HANDLING SYSTEM FOR ASIA'S LARGEST LNG BUNKER VESSEL
Gas Entec, a subsidiary of AG&P, will design and build the cargo handling system of the largest LNG bunker vessel in Asia. The vessel will be built at Sembcorp Marine Tuas Boulevard Yard in Singapore and will have dual-fuel engines running on LNG or marine diesel oil for cleaner propulsion (Photo: Business Wire)
- Vessel will be deployed for long-term charter in Singapore for Pavilion Gas, a subsidiary of Temasek-owned Pavilion Energy
- Vessel will be the largest LNG bunker ship to operate in Asia once delivered in 2021
SINGAPORE, Oct 24 (Bernama-BUSINESS WIRE) -- Gas Entec Co. Ltd. (Gas Entec), a subsidiary of Atlantic Gulf & Pacific Company (AG&P), a leading global gas and LNG logistics company, today announced it has secured an important contract from Sembcorp Marine Integrated Yard Pte. Ltd. (Sembcorp Marine). Under the contract, Gas Entec will provide the engineering, procurement and construction (EPC) of the cargo handling system for a 12,000 cubic meter LNG bunker vessel owned by Indah Singa Maritime, a subsidiary of Mitsui OSK Lines, operating out of Singapore.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191024005401/en/
Gas Entec is the world-standard in engineering for small- and mid-scale LNG infrastructure and other applications with specific expertise in cargo containment, handling and fuel gas supply systems for floating LNG terminals, bunker vessels and ships using LNG as a fuel. Gas Entec’s signature projects include the design and build of the first-ever small-scale floating regasification unit installed at the Port of Benoa in Bali; key engineering for the first and only LNG bunkering barge in the US, operating in Jacksonville, Florida and EPC of the LNG components of Japan’s first bunkering vessel, which is currently under construction.
Mr. Chong-Ho Kwak, Chief Executive Officer of Gas Entec, said: “Gas Entec is honoured to work with Sembcorp Marine for the landmark 12,000 CBM LNG bunker vessel project, which will be the largest bunker ship to operate in Asia when it enters in service in 2021. We are excited to be a part of this prestigious project and will continue to work very hard to deliver to the immense responsibility and trust placed on us.”
The LNG bunker vessel will be built at Sembcorp Marine Tuas Boulevard Yard in Singapore, where Gas Entec engineers will work with their counterparts to oversee the cargo handling project. The vessel, measuring 112m long x 22m wide, will use GTT Flex III membrane technology for the cargo containment tanks and will have dual-fuel engines running on LNG or marine diesel oil for cleaner propulsion.
For more information: www.agp.ph; www.gasentec.com; www.sembmarine.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191024005401/en/
Contact
Media contacts:
AG&P: Christine Jones | christine.jones@agpglobal.com | +61 409 635675
MSL PR: Parneet Hira | parneet.hira@mslgroup.com | + 91 99717 32724
Source : Gas Entec Co. Ltd.
PSAV COMPLETES ITS ACQUISITION OF ENCORE EVENT TECHNOLOGIES
Two companies unite to jointly serve a global customer base
Schiller Park, Ill., Oct 16 (Bernama-GLOBE NEWSWIRE) -- PSAV announced today that it has completed its previously announced acquisition of Encore Event Technologies. PSAV and Encore, both global leaders in event experiences and production services, combine their deep expertise and shared commitment to be an invaluable global partner for the meeting industry. Terms of the transaction were not disclosed.
“The combination of Encore and PSAV is monumental for the industry and all who rely on us for their event experience needs. It provides us with the ability to expand our capabilities and footprint in order to better serve our collective meeting planner customers and valued venue partners,” said Mike McIlwain, CEO of PSAV. “The Encore team is very much aligned to our purpose, mission and values, and I am confident our expanded team will exceed our own expectations when it comes to helping our customers achieve their meeting and event goals.”
Bob Priest-Heck, Chief Executive Officer of The Freeman Company, said, “This divestiture is an important milestone and will allow Freeman to invest deeper in our broad competencies in brand and event strategy, world-class creative, event technology, digital and logistics. The combination of Encore and PSAV creates tremendous opportunities for Encore to accelerate its growth and provide enhanced value to its clients, partners and world-class team. We wish our Encore colleagues continued success as part of PSAV moving forward.”
Encore has a long and distinguished history dedicated to helping create high-impact meetings and live events for the hospitality industry. Encore operates as an in-house partner to some of the world’s leading resorts, hotels, as well as a creative production company for clients around the world.
PSAV has an equally impressive history that includes more than 80 years as a global leader in event experiences. Its extensive footprint and menu of capabilities have effectively served its customers across the globe.
About PSAV®
PSAV is a global leader in event experiences, providing creative, production, advanced technology and staging services to help meeting professionals deliver more dynamic and impactful experiences at their meetings, trade shows and events. The team consists of more than 10,000 professionals across 1,600 on-site venue locations and 49 branch offices within the United States, Canada, Mexico, Europe, the Caribbean, and the Middle East. It is the trusted partner and on-site provider of choice at leading venues worldwide. PSAV was recently named to the Forbes 2019 America’s Best Employer list. The company is headquartered in Schiller Park, Ill. www.psav.com.
About Encore Event Technologies
Encore is a leading global provider of audiovisual, event technology, staging and production services. Encore serves as the in-house provider at more than 500 hotels, conference centers and resorts in North America and Asia Pacific. Encore Productions, the production division of Encore Event Technologies, is a full-service creative production company helping clients tell their stories around the world. For more information, visit www.encore-us.com, www.encore-anzpac.com and www.freemanav-ca.com.
Bob Niersbach
PSAV
847.385.3619
rniersbach@psav.com
Source: PSAV
--BERNAMA
Schiller Park, Ill., Oct 16 (Bernama-GLOBE NEWSWIRE) -- PSAV announced today that it has completed its previously announced acquisition of Encore Event Technologies. PSAV and Encore, both global leaders in event experiences and production services, combine their deep expertise and shared commitment to be an invaluable global partner for the meeting industry. Terms of the transaction were not disclosed.
“The combination of Encore and PSAV is monumental for the industry and all who rely on us for their event experience needs. It provides us with the ability to expand our capabilities and footprint in order to better serve our collective meeting planner customers and valued venue partners,” said Mike McIlwain, CEO of PSAV. “The Encore team is very much aligned to our purpose, mission and values, and I am confident our expanded team will exceed our own expectations when it comes to helping our customers achieve their meeting and event goals.”
Bob Priest-Heck, Chief Executive Officer of The Freeman Company, said, “This divestiture is an important milestone and will allow Freeman to invest deeper in our broad competencies in brand and event strategy, world-class creative, event technology, digital and logistics. The combination of Encore and PSAV creates tremendous opportunities for Encore to accelerate its growth and provide enhanced value to its clients, partners and world-class team. We wish our Encore colleagues continued success as part of PSAV moving forward.”
Encore has a long and distinguished history dedicated to helping create high-impact meetings and live events for the hospitality industry. Encore operates as an in-house partner to some of the world’s leading resorts, hotels, as well as a creative production company for clients around the world.
PSAV has an equally impressive history that includes more than 80 years as a global leader in event experiences. Its extensive footprint and menu of capabilities have effectively served its customers across the globe.
About PSAV®
PSAV is a global leader in event experiences, providing creative, production, advanced technology and staging services to help meeting professionals deliver more dynamic and impactful experiences at their meetings, trade shows and events. The team consists of more than 10,000 professionals across 1,600 on-site venue locations and 49 branch offices within the United States, Canada, Mexico, Europe, the Caribbean, and the Middle East. It is the trusted partner and on-site provider of choice at leading venues worldwide. PSAV was recently named to the Forbes 2019 America’s Best Employer list. The company is headquartered in Schiller Park, Ill. www.psav.com.
About Encore Event Technologies
Encore is a leading global provider of audiovisual, event technology, staging and production services. Encore serves as the in-house provider at more than 500 hotels, conference centers and resorts in North America and Asia Pacific. Encore Productions, the production division of Encore Event Technologies, is a full-service creative production company helping clients tell their stories around the world. For more information, visit www.encore-us.com, www.encore-anzpac.com and www.freemanav-ca.com.
Bob Niersbach
PSAV
847.385.3619
rniersbach@psav.com
Source: PSAV
--BERNAMA
GMAC report examines immigration roles in fuelling global economy productivity, growth
KUALA LUMPUR, Oct 15 -- The Graduate Management Admission Council (GMAC) has unveiled the ‘Early Warning Signals: Winners and Losers in the Global Race for Talent’ report, an annual snapshot of admission trends for graduate business programmes.
The report examines the role immigration plays in fuelling the productivity and growth of global economies, need to support international mobility of talent across borders and the critical role business schools play as gatekeepers to skilled immigration and talent development.
The report analyses data in the United States (US), Canada, the United Kingdom, India and China, and includes the latest business school application data which was also released by GMAC via the Application Trends Survey Report 2019.
Calling attention to the particular challenges the US faces, 63 chief executive officers (CEOs) and deans from a broad cross-section of business schools across the country have signed an open letter calling for a substantial change in the US approach to high-skilled immigration.
The signatories are proposing pro-growth policy reforms by removing ‘per-country’ visa caps, modernising the visa processing system and reforming the H-1B visa programme to make it possible for needed talent to have a reasonable chance of gaining entry to the US.
“Policy makers also have a responsibility to seed an environment conducive to student mobility. By doing so, they unlock innovation while helping to maintain diversity in the classroom, a critical aspect of graduate management education,” said GMAC president and CEO, Sangeet Chowfla.
GMAC is an association of leading graduate business schools worldwide. It provides world-class research, professional development opportunities and assessments for the industry, designed to advance the art and science of admissions. More information at https://www.gmac.com.
-- BERNAMA
The report examines the role immigration plays in fuelling the productivity and growth of global economies, need to support international mobility of talent across borders and the critical role business schools play as gatekeepers to skilled immigration and talent development.
The report analyses data in the United States (US), Canada, the United Kingdom, India and China, and includes the latest business school application data which was also released by GMAC via the Application Trends Survey Report 2019.
Calling attention to the particular challenges the US faces, 63 chief executive officers (CEOs) and deans from a broad cross-section of business schools across the country have signed an open letter calling for a substantial change in the US approach to high-skilled immigration.
The signatories are proposing pro-growth policy reforms by removing ‘per-country’ visa caps, modernising the visa processing system and reforming the H-1B visa programme to make it possible for needed talent to have a reasonable chance of gaining entry to the US.
“Policy makers also have a responsibility to seed an environment conducive to student mobility. By doing so, they unlock innovation while helping to maintain diversity in the classroom, a critical aspect of graduate management education,” said GMAC president and CEO, Sangeet Chowfla.
GMAC is an association of leading graduate business schools worldwide. It provides world-class research, professional development opportunities and assessments for the industry, designed to advance the art and science of admissions. More information at https://www.gmac.com.
-- BERNAMA
JUNIPER RESEARCH: MOBILE FINANCIAL SERVICES' TRANSACTIONS TO EXCEED $1 TRILLION IN EMERGING MARKETS BY 2024
Includes Mobile Money Transfer, Microloans, Microsavings and Microinsurance
BASINGSTOKE, England, Oct 15 (Bernama-BUSINESS WIRE) -- A new study from Juniper Research found that the total transaction value of the MFS (Mobile Financial Services) market will exceed $1 trillion by 2024; rising from $580 billion in 2019. This is a growth of 70%. The research identified a range of untapped opportunities in Latin America for services such as microfinance, microloans and money transfer, as a key driver of MFS growth over the next five years.
For more insights on Mobile Financial Services in Emerging Markets, download our free whitepaper: The $1 Trillion Opportunity ~ Mobile Financial Services in Emerging Markets.
Latin America – the Underserved Opportunity
The new research, Mobile Financial Services in Emerging Markets: Monetisation Models & Market Forecasts 2019-2024, forecasts that the total number of users accessing MFS in Latin America will grow 20% on average annually over the next five years. This is predicted to grow twice as fast as saturated markets such as Africa & Middle East. In response, it urged MFS vendors to leverage existing experience to launch services in this underserved market.
It also forecasts that the number of MFS users in all emerging markets will reach 1.2 billion by 2024; growing from 890 million in 2019. Africa & Middle East will account for over 600 million users alone by 2024; owing to the high reliance on mobile devices for banking services.
Cash In, Cash Out to Account for Half of Overall MFS Value by 2024
The research found that CICO (Cash In, Cash Out) transactions will be the largest driver of growth for the MFS market; exceeding a value of $590 billion by 2024. CICO allows users to access traditional banking services, such as deposits and withdrawals, via mobile devices.
The report urged MFS providers to expand their agent networks to rapidly grow customer bases. It also forecasts that fostering confidence amongst users for CICO transactions will lead to uptake of more comprehensive MFS products, such as microloans and microinsurance, in the future.
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.
Contact
For further details please contact
Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com
Source : Juniper Research
--BERNAMA
BASINGSTOKE, England, Oct 15 (Bernama-BUSINESS WIRE) -- A new study from Juniper Research found that the total transaction value of the MFS (Mobile Financial Services) market will exceed $1 trillion by 2024; rising from $580 billion in 2019. This is a growth of 70%. The research identified a range of untapped opportunities in Latin America for services such as microfinance, microloans and money transfer, as a key driver of MFS growth over the next five years.
For more insights on Mobile Financial Services in Emerging Markets, download our free whitepaper: The $1 Trillion Opportunity ~ Mobile Financial Services in Emerging Markets.
Latin America – the Underserved Opportunity
The new research, Mobile Financial Services in Emerging Markets: Monetisation Models & Market Forecasts 2019-2024, forecasts that the total number of users accessing MFS in Latin America will grow 20% on average annually over the next five years. This is predicted to grow twice as fast as saturated markets such as Africa & Middle East. In response, it urged MFS vendors to leverage existing experience to launch services in this underserved market.
It also forecasts that the number of MFS users in all emerging markets will reach 1.2 billion by 2024; growing from 890 million in 2019. Africa & Middle East will account for over 600 million users alone by 2024; owing to the high reliance on mobile devices for banking services.
Cash In, Cash Out to Account for Half of Overall MFS Value by 2024
The research found that CICO (Cash In, Cash Out) transactions will be the largest driver of growth for the MFS market; exceeding a value of $590 billion by 2024. CICO allows users to access traditional banking services, such as deposits and withdrawals, via mobile devices.
The report urged MFS providers to expand their agent networks to rapidly grow customer bases. It also forecasts that fostering confidence amongst users for CICO transactions will lead to uptake of more comprehensive MFS products, such as microloans and microinsurance, in the future.
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191014005520/en/
Contact
For further details please contact
Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com
Source : Juniper Research
--BERNAMA
Wednesday 23 October 2019
Nippon Express (India) passionately nurtures social activities
KUALA LUMPUR, Oct 21 -- Nippon Express (India) Private Ltd (NE India), a subsidiary of Nippon Express Co Ltd has fully launched social contribution activities for local communities.
Based on suggestions from employees, the company has designated the fifth Saturday of every month, which occurs several times each year, as a ‘day for activities’.
NE India’s main branches have been holding discussions during which employees independently plan the content of activities.
The company has also introduced a support system to make employee participation easier, resulting in about 80 per cent of all employees participating in activities in June and August.
Among the main activities were visits to orphanages, schools and elderly care facilities, distribution of emergency food in worker housing areas, participation in local greening events and blood donations at cancer hospitals.
NE India recognises these activities as corporate social responsibilities and will continue under the banner of ‘good corporate citizenship’.
-- BERNAMA
Based on suggestions from employees, the company has designated the fifth Saturday of every month, which occurs several times each year, as a ‘day for activities’.
NE India’s main branches have been holding discussions during which employees independently plan the content of activities.
The company has also introduced a support system to make employee participation easier, resulting in about 80 per cent of all employees participating in activities in June and August.
Among the main activities were visits to orphanages, schools and elderly care facilities, distribution of emergency food in worker housing areas, participation in local greening events and blood donations at cancer hospitals.
NE India recognises these activities as corporate social responsibilities and will continue under the banner of ‘good corporate citizenship’.
-- BERNAMA
Tuesday 22 October 2019
Indonesia´s TUGU affirmed with excellent credit ratings - AM Best
KUALA LUMPUR, Oct 14 -- AM Best has affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ of PT Asuransi Tugu Pratama Indonesia, Tbk (TUGU), Indonesia.
The negative outlook of these credit ratings reflects TUGU’s balance sheet strength, which AM Best categorised as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The ratings also factor in a neutral impact from the company’s ultimate majority ownership by Indonesia’s government, according to a statement.
The negative outlooks reflect AM Best’s ongoing concern over the company’s risk management and its ability to manage enterprise-wide risks and operations effectively.
TUGU’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which remains at the strongest level, as measured by Best’s Capital Adequacy Ratio. Internal capital generation over recent years, along with a capital raising in 2018, has strengthened its capital base and continued to support business expansion.
AM Best views TUGU’s operating performance as strong. The company reported five-year average combined and operating ratios of 82 per cent and 64 per cent, respectively (2014 to 2018).
A significant contributor to the company’s underwriting profits has been its corporate business from PT Pertamina (Persero), TUGU’s immediate parent and Indonesia’s national integrated energy company.
AM Best is a global rating agency and information provider with an exclusive focus on the insurance industry. More information at www.ambest.com.
-- BERNAMA
The negative outlook of these credit ratings reflects TUGU’s balance sheet strength, which AM Best categorised as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The ratings also factor in a neutral impact from the company’s ultimate majority ownership by Indonesia’s government, according to a statement.
The negative outlooks reflect AM Best’s ongoing concern over the company’s risk management and its ability to manage enterprise-wide risks and operations effectively.
TUGU’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which remains at the strongest level, as measured by Best’s Capital Adequacy Ratio. Internal capital generation over recent years, along with a capital raising in 2018, has strengthened its capital base and continued to support business expansion.
AM Best views TUGU’s operating performance as strong. The company reported five-year average combined and operating ratios of 82 per cent and 64 per cent, respectively (2014 to 2018).
A significant contributor to the company’s underwriting profits has been its corporate business from PT Pertamina (Persero), TUGU’s immediate parent and Indonesia’s national integrated energy company.
AM Best is a global rating agency and information provider with an exclusive focus on the insurance industry. More information at www.ambest.com.
-- BERNAMA
Monday 21 October 2019
VISIT KOREA COMMITTEE: PROMOTIONS FOR FLIGHT TICKET, ACCOMMODATION, ACTIVITY PROGRAM NOW IN PLACE FOR KOREA GRAND SALE 2020
-Come to Korea and Enjoy Shopping, Culture, and Tourism!
SEOUL, South Korea Oct 14 (Bernama-BUSINESS WIRE) -- Korea Grand Sale 2020, an annual shopping, culture, and tourism festival for foreign tourists, will be held by the Visit Korea Committee for 45 days from January 16 (Thursday) to February 29 (Saturday) next year across the country.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191007005327/en/
The 100-day countdown to the grand opening of the event began with promotions under its catchphrase “Inviting You to the Korea Grand Sale.”
The early-bird promotion offers up to 95 percent discounts on tickets sold by eight Korean airlines for flights to Korea from overseas on about 100 routes. The hotel promotion offers up to 80 percent discounts plus an extra 10 percent markdown for rooms at about 200 hotels in Korea. These promotions will raise the delight of the trip to Korea.
Plenty of fun programs offering hands-on experiences with K-pop, Korean culture and K-Wave (Hallyu) contents are now prepared. These include K-pop Star Training programs, K-beauty tryout programs, gourmet tours of Korea and indoor/outdoor activities for winter season. These various programs will surely attract a lot of foreign tourists.
Details are available at the official homepage of the Korea Grand Sale
(http://www.koreagrandsale.co.kr/en/).
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191007005327/en/
Contact
Visit Korea Committee
Kim Mun Joo, Marketing Manager
+82-2-6272-7307
onlyou6@vkc.or.kr
Source : Visit Korea Committee
--BERNAMA
Saturday 19 October 2019
HISTORIC CONRAD HILTON BEL-AIR ESTATE HITS MARKET FOR $225 MILLION
BEVERLY HILLS, Calif., Oct 18 (Bernama-BUSINESS WIRE) -- The Conrad Hilton estate, Casa Encantada, has come on the market for the first time in decades since it was built in 1938. It is rich in history having been built in the midst of the heyday of old Hollywood. Louis B. Mayer and Jack Warner were bringing sound to motion pictures and stars Greta Garbo, Joan Crawford, Clark Gable, Katherine Hepburn, Spencer Tracy to the screen. Its architectural legacy and a commitment of meticulous preservation shines through all aspects of this rare property.
The impeccably restored 40,000-square-foot modern Georgian masterpiece is situated on a promontory of more than eight acres in Bel-Air, just 10 minutes to Beverly Hills. Famed architect James E. Dolena designed it with city, ocean and garden views from all 60 rooms. Furnishings and interior designs were created by the iconic T. H. Robsjohn-Gibbings to set a new standard for lavish home design. The property is known to be the designer’s most important residential commission.
Hilton owned the home for over two decades. The mansion and grounds have hosted some of the most significant social, charitable and political events in the United States, welcoming Presidents and Hollywood royalty alike over its 80 years.
Even as Los Angeles County’s population grew from just over 2 million in 1938 to today’s 10 million, the compound remains without neighbors and is expansive, private and secure.
Fiber optic pioneer and philanthropist Gary Winnick and his wife of over 45 years, Karen, commissioned architect and designer Peter Marino, who with a team of 250 craftsmen spent more than two years bringing a museum-quality restoration to this unique, one-a-kind estate. The couple has also owned the home for almost two decades and have been honored to be its stewards.
With a seemingly impossible intimate feeling, Casa Encantada welcomes guests with curved iron gates that swing gracefully from stone bases. The sweeping driveway guides through lush, green surroundings to lead visitors into the warm embrace of the main residence. The dramatic entry hall leads with 18-foot ceilings that open into a majestic reception hall, dining room and living spaces. The second story features living quarters that seamlessly integrate into the residence’s entertainment-centric first story.
An architectural pool house boasts a professional screening room, formal bar and vistas to the rose gardens and beyond. Other amenities include a north-south lighted tennis court, a separately constructed basketball court, a full guest house and multiple greenhouses. Koi ponds and irreplaceable landscaping makes the estate arguably one of the finest in the world.
For more information about the property, please contact Jeff Hyland of Hilton & Hyland at jeff@jeffhyland.com or (310) 278-3311.
About Winnick & Company
Winnick & Company is a Los Angeles-based private investment firm. Founded by financier and philanthropist Gary Winnick, Winnick & Company actively partners with portfolio companies involved in disruptive and innovative solutions.
http://mrem.bernama.com/viewsm.php?idm=35848
The impeccably restored 40,000-square-foot modern Georgian masterpiece is situated on a promontory of more than eight acres in Bel-Air, just 10 minutes to Beverly Hills. Famed architect James E. Dolena designed it with city, ocean and garden views from all 60 rooms. Furnishings and interior designs were created by the iconic T. H. Robsjohn-Gibbings to set a new standard for lavish home design. The property is known to be the designer’s most important residential commission.
Hilton owned the home for over two decades. The mansion and grounds have hosted some of the most significant social, charitable and political events in the United States, welcoming Presidents and Hollywood royalty alike over its 80 years.
Even as Los Angeles County’s population grew from just over 2 million in 1938 to today’s 10 million, the compound remains without neighbors and is expansive, private and secure.
Fiber optic pioneer and philanthropist Gary Winnick and his wife of over 45 years, Karen, commissioned architect and designer Peter Marino, who with a team of 250 craftsmen spent more than two years bringing a museum-quality restoration to this unique, one-a-kind estate. The couple has also owned the home for almost two decades and have been honored to be its stewards.
With a seemingly impossible intimate feeling, Casa Encantada welcomes guests with curved iron gates that swing gracefully from stone bases. The sweeping driveway guides through lush, green surroundings to lead visitors into the warm embrace of the main residence. The dramatic entry hall leads with 18-foot ceilings that open into a majestic reception hall, dining room and living spaces. The second story features living quarters that seamlessly integrate into the residence’s entertainment-centric first story.
An architectural pool house boasts a professional screening room, formal bar and vistas to the rose gardens and beyond. Other amenities include a north-south lighted tennis court, a separately constructed basketball court, a full guest house and multiple greenhouses. Koi ponds and irreplaceable landscaping makes the estate arguably one of the finest in the world.
For more information about the property, please contact Jeff Hyland of Hilton & Hyland at jeff@jeffhyland.com or (310) 278-3311.
About Winnick & Company
Winnick & Company is a Los Angeles-based private investment firm. Founded by financier and philanthropist Gary Winnick, Winnick & Company actively partners with portfolio companies involved in disruptive and innovative solutions.
http://mrem.bernama.com/viewsm.php?idm=35848
Friday 18 October 2019
INITIAL HYGIENE MALAYSIA IN SUPPORT OF GLOBAL HANDWASHING DAY - CLEAN HANDS FOR ALL
KUALA LUMPUR, Oct 15 (Bernama) -- 15 October 2019 is the day we celebrate Global Handwashing Day (GHD) worldwide together. This is an initiative started by the Global Handwashing Partnership in 2008 to help world leaders advocate the importance of proper handwashing to their respective local communities. With the first GHD held in 2008, over 120 million children in more than 70 countries have better access to hand washing facilities which allow them to wash their hands properly.
This year Global Handwashing Day’s theme is “Clean Hands for All”, making the push to leave no one behind in Sustainable Development Agenda. Besides children, handwashing practice applies to adults as well, especially in their daily routines at home to workplace. Research from WHO shows that 40% of the world's population has no access to basic handwashing facilities. Inadequacy in handwashing facilities can easily put individuals at higher risk of contracting diseases that may impact their health, education, and economic outcomes.
Handwashing is an effective way to prevent the spread of germs. But, are you washing your hands correctly? Germs could be picked up from multiple touchpoints through your hands when you travel to your workplace daily, from the first touch at your house door or public transport handles to your office entrance and washroom. Germs can stay alive on hands up to 3 hours and harmful bacteria such as Salmonella and E.Coli are more likely to spread through cross-contamination. If you do not wash your hands properly, infection continues to spread even more when food is involved, eg. before food preparation takes place, likewise before and after eating. Hence, proper hand washing behaviour is critical to ensure a healthy hygiene level in the workplace.
http://mrem.bernama.com/viewsm.php?idm=35806
Thursday 17 October 2019
MYLIFE TAKES INITIATIVE TO DELIVER FINANCIAL EDUCATION TO ALL, STARTING WITH THE MILLENNIALS
The Inaugural Malaysia Financial Literacy Conference 2019
KUALA LUMPUR, Oct 7 (Bernama) -- According to the Standard & Poor Global Financial Literacy Survey, Malaysians have a financial literacy rate of only 36%; well below that of developed countries at 59%. The needs to equip Malaysians with the knowledge to make informed financial decisions and to nurture healthy attitudes in financial management become more pivotal as the Government launched the National Strategy for Financial Literacy 2019-2023.
In line with the Government’s effort, Malaysia Literacy in Financial Education Association (MyLIFE) is taking initiative to improve financial literacy among Malaysians by hosting its First Malaysia Financial Literacy Conference (MFLC) on 30th October 2019, at the Bestari Lecture Hall, Universiti Kuala Lumpur (UniKL) which will be officiated by the Minister of Education, Yang Berhormat Dr. Maszlee Malik as the Honorable Guest.
Jointly organised by MyLIFE Association, Money Compass Media and uLearnMoney, the one-day conference takes the theme “Financial Literacy for Millennials” that aims to gather the relevant stakeholders from the private and public sectors in discussing solutions to elevate financial literacy among millennials.
Through this conference, the association hopes to transpire its vision to create a new Malaysia where citizens can make an informed judgement and take effective decisions regarding the use and management of money.
“The MyLIFE initiative began when we realised many Malaysians, including young people and underprivileged groups are struggling with financial issues. We believe that education is the most powerful weapon used to change the world, hence MyLIFE’s mission is financial literacy for all,” said Amy Seok, the Founding Chairman of MyLIFE Association & CEO of Money Compass Media.
With regards to the conference, 50 selected universities will be receiving a sponsorship subsidy of up to 90% for the uLearnMoney online financial literacy programme by the financial institutions and corporate sponsors. Recognition Merit Awards will also be honored to 15 financial educators who have contributed to uplift the financial literacy among Malaysians.
For those who are interested to participate in the conference, kindly contact the event manager of MFLC, Ms Chanel Pong at conference.mylife@gmail.com or call 012-336 1881.
About MyLIFE
Founded in 2018, Malaysian Literacy in Financial Education Association (MyLIFE) is a National Level Non-Government Organization with members from all over Malaysia, including Sabah and Sarawak. MyLIFE has taken initiative, ownership and proactive action to help Nation building through its holistic approach to elevate financial literacy of every Malaysian Citizen via various community and network. For more information https://mylifeassociation.org/
About uLearnMoney
uLearnMoney is an online Financial Literacy Platform that provides financial education for millennials and assists them to respond to immediate financial challenges, questions and doubts particularly curated for university and college students.
The programme is endorsed by the Higher Learning Division, Ministry of Education (MOE) as a curriculum programme for universities. uLearnMoney is supported and recognized by various financial institutions, including the Malaysian Financial Planning Council (MFPC), Financial Planning Association Of Malaysia (FPAM), Malaysian Financial Planners and Advisers Association (MFPAA), and Credit Counselling and Debt Management Agency (AKPK). For more information kindly visit the website https://ulearnmoney.com/
Source: Malaysia Literacy in Financial Literacy (MyLIFE) Association
TomTom-Sumitomo Electric collaboration improves road safety, reduces traffic congestion
KUALA LUMPUR, Oct 17 -- Location technology specialist, TomTom has collaborated with Sumitomo Electric Industries Ltd to improve road safety and traffic congestion.
The initiative will utilise Sumitomo Electric’s expertise in intelligent transport systems and TomTom’s highly accurate real-time traffic data and high definition maps by creating mobility solutions.
“Our vision of a safe and autonomous world can only be achieved by working with innovative, expert partners like Sumitomo Electric. We’re very excited about the possibilities of our collaboration in tackling global mobility problems like traffic congestion and road safety,” said TomTom chief executive officer, Harold Goddijn.
“We believe that so many challenges in the intelligent transport systems field can be solved by fusing the expertise and technologies of our two companies, so I am delighted to be working with TomTom,” said Sumitomo Electric general manager (Systems & Electronics Division), Koichi Washimi.
Headquartered in Amsterdam with offices in 30 countries, TomTom’s technologies are trusted by hundreds of millions of people worldwide. More information at https://www.tomtom.com.
-- BERNAMA
Wednesday 16 October 2019
VISIT MALAYSIA 2020 EVENTS AND FESTIVALS IS NOW ONLINE
PUTRAJAYA, Oct 9 (Bernama) -- Comprehensive information on the Visit Malaysia 2020 (VM 2020) events and festivals is now available for download on Tourism Malaysia’s website: https://www.malaysia.travel.
The e-brochure highlights the line-up of both existing and new events and festivals that Malaysia is offering during the year-long celebrations of Visit Malaysia 2020.
There are over 100 events lined up throughout the year in conjunction with VM 2020. Among them are Chinese New Year Celebration in Malacca, Iftar @KL, Royal Floria Putrajaya, Light and Motion Putrajaya (LAMPU), Terengganu Beach Festival, Tadau Ka’amatan Harvest Festival celebrated in Penampang, Sabah, Rainforest World Music Festival and Borneo Arts Festival.
For more information regarding the brochure, kindly contact Marketing Support Division, Tourism Malaysia at 03-8891 8000 or Tourism Malaysia Contact Centre at 1 300 88 5050 or email: enquiries@tourism.gov.my.
For full media release, please visit:
https://www.tourism.gov.my/media/view/visit-malaysia-2020-events-and-festivals-is-now-online
MALAYSIA TOURISM PROMOTION BOARD OR TOURISM MALAYSIA is an agency under the Ministry of Tourism, Arts & Culture Malaysia. It focuses on the specific task of promoting Malaysia as a preferred tourism destination. Since its inception, it has emerged as a major player in the international tourism scene. In 2018, Malaysia registered 25.8 million tourist arrivals and RM84.1 billion tourist receipts, placing it among the major tourism destinations of the world.
Source: Tourism Malaysia
The e-brochure highlights the line-up of both existing and new events and festivals that Malaysia is offering during the year-long celebrations of Visit Malaysia 2020.
There are over 100 events lined up throughout the year in conjunction with VM 2020. Among them are Chinese New Year Celebration in Malacca, Iftar @KL, Royal Floria Putrajaya, Light and Motion Putrajaya (LAMPU), Terengganu Beach Festival, Tadau Ka’amatan Harvest Festival celebrated in Penampang, Sabah, Rainforest World Music Festival and Borneo Arts Festival.
For more information regarding the brochure, kindly contact Marketing Support Division, Tourism Malaysia at 03-8891 8000 or Tourism Malaysia Contact Centre at 1 300 88 5050 or email: enquiries@tourism.gov.my.
For full media release, please visit:
https://www.tourism.gov.my/media/view/visit-malaysia-2020-events-and-festivals-is-now-online
MALAYSIA TOURISM PROMOTION BOARD OR TOURISM MALAYSIA is an agency under the Ministry of Tourism, Arts & Culture Malaysia. It focuses on the specific task of promoting Malaysia as a preferred tourism destination. Since its inception, it has emerged as a major player in the international tourism scene. In 2018, Malaysia registered 25.8 million tourist arrivals and RM84.1 billion tourist receipts, placing it among the major tourism destinations of the world.
Source: Tourism Malaysia
Epiq bolsters information governance practice across Asia-Pacific
KUALA LUMPUR, Oct 16 -- Epiq, a global leader in the legal services industry announced that Elizabeth Fogerty will lead its information governance (IG) practice across Asia-Pacific region as strategic relationships and compliance consulting director.
Fogerty is an acclaimed IG expert with significant knowledge of cloud migration and the regulatory and compliance challenges that accompany migration. She brings considerable expertise to companies that are interested in transitioning to cloud-enabled solutions.
Based in Hong Kong, Fogerty will drive the client strategy for data security, compliance, eDiscovery, data classification, data retention and defensible deletion in cloud-based storage systems.
A study commissioned by Epiq reported that acceptance of cloud-based data storage is accelerating and over 75 per cent of buyers for eDiscovery and related services expect to increase the use of public cloud to host discovery data in the next three years.
Epiq has been working closely with global law firms and corporations to solve eDiscovery challenges in Asia for over a decade. Recent changes in privacy laws have increased the demand for IG compliance solutions worldwide.
In Asia, investments in information technology infrastructure are contributing to what is expected to be the fastest growth in the global eDiscovery market, according to a statement.
Epiq offers a full suite of information governance and eDiscovery solutions that allow clients to take control of digital information and mitigate regulatory and compliance risks. More information at https://www.epiqglobal.com/en-us.
-- BERNAMA
-- BERNAMA
Tuesday 15 October 2019
MPIC secures US$680 million from KKR investment in hospital unit
KUALA LUMPUR, Oct 15 -- Metro Pacific Investments Corporation (MPIC), KKR and GIC have signed certain definitive agreements, under which KKR and GIC’s affiliate will invest in Metro Pacific Hospital Holdings Inc (the Company).
Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines, in terms of authorised bed capacity and revenue, with interests in 14 hospitals across the country.
In a statement, KKR said the investment would be in a common shares series of investments in the Company and mandatorily exchangeable bonds issued by MPIC.
GIC will restructure its current investment in the Company and will re-invest alongside KKR.
Under the agreement, the KKR-led consortium will subscribe to Philippine peso (Php) 5.2 billion (US$100 million) worth of 41,366,178 new common shares, equivalent to 6.25 per cent of the aggregate par value of the Company. (US$1 = RM4.19)
Proceeds from the sale will be used to support Metro Pacific Hospitals’ potential investments in additional hospitals and new healthcare businesses. The capital will also be used to grow the Company’s existing subsidiaries, associates and joint ventures.
As part of MPIC's wider financing arrangements, the KKR-led consortium will also invest in a Php 30.1 billion (US$580 million) mandatorily exchangeable bond issued by MPIC.
The exchangeable bond shall grant the consortium the right to exchange the bond for 239,932,962 common shares in Metro Pacific Hospitals at the soonest 10 years or an initial public offering, which may be considered after further development of the business.
MPIC plans to use the proceeds of this issuance to reduce its bank borrowings.
The transactions are expected to complete by year-end. KKR will make this investment from its Asian Fund III.
-- BERNAMA
Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines, in terms of authorised bed capacity and revenue, with interests in 14 hospitals across the country.
In a statement, KKR said the investment would be in a common shares series of investments in the Company and mandatorily exchangeable bonds issued by MPIC.
GIC will restructure its current investment in the Company and will re-invest alongside KKR.
Under the agreement, the KKR-led consortium will subscribe to Philippine peso (Php) 5.2 billion (US$100 million) worth of 41,366,178 new common shares, equivalent to 6.25 per cent of the aggregate par value of the Company. (US$1 = RM4.19)
Proceeds from the sale will be used to support Metro Pacific Hospitals’ potential investments in additional hospitals and new healthcare businesses. The capital will also be used to grow the Company’s existing subsidiaries, associates and joint ventures.
As part of MPIC's wider financing arrangements, the KKR-led consortium will also invest in a Php 30.1 billion (US$580 million) mandatorily exchangeable bond issued by MPIC.
The exchangeable bond shall grant the consortium the right to exchange the bond for 239,932,962 common shares in Metro Pacific Hospitals at the soonest 10 years or an initial public offering, which may be considered after further development of the business.
MPIC plans to use the proceeds of this issuance to reduce its bank borrowings.
The transactions are expected to complete by year-end. KKR will make this investment from its Asian Fund III.
-- BERNAMA
Capital Life Insurance outlook revised to stable - AM Best
KUALA LUMPUR, Oct 14 -- AM Best has revised the outlook to stable from negative and affirmed the Financial Strength Rating of C- (weak) and the Long-Term Issuer Credit Rating of ‘cc’ of Capital Life Insurance Company Limited (CLI) Papua New Guinea.
The rating agency categorised the company’s balance sheet strength as weak, as well as its adequate operating performance, limited business profile and weak enterprise risk management.
The ratings factor in a neutral impact from the company’s 100 per cent ownership by Capital Insurance Group Limited.
The revision of the outlooks to stable from negative reflects AM Best’s expectation that the company’s balance sheet strength fundamentals will demonstrate an improving trend over the medium term.
The company has since implemented a number of remedial actions, including large premium rate adjustments and strengthening of policy conditions.
AM Best expects these steps to generate additional retained earnings over the medium term, which will bolster prospective risk-adjusted capitalisation.
The agency also expects CLI to report positive underwriting and operating earnings, driven by an anticipated improvement in the performance of its core medical portfolio.
More details on the credit ratings at http://www.ambest.com
-- BERNAMA
The rating agency categorised the company’s balance sheet strength as weak, as well as its adequate operating performance, limited business profile and weak enterprise risk management.
The ratings factor in a neutral impact from the company’s 100 per cent ownership by Capital Insurance Group Limited.
The revision of the outlooks to stable from negative reflects AM Best’s expectation that the company’s balance sheet strength fundamentals will demonstrate an improving trend over the medium term.
The company has since implemented a number of remedial actions, including large premium rate adjustments and strengthening of policy conditions.
AM Best expects these steps to generate additional retained earnings over the medium term, which will bolster prospective risk-adjusted capitalisation.
The agency also expects CLI to report positive underwriting and operating earnings, driven by an anticipated improvement in the performance of its core medical portfolio.
More details on the credit ratings at http://www.ambest.com
-- BERNAMA
Takeda divests select OTC, non-core assets to Acino for over US$200 million
KUALA LUMPUR, Oct 15 -- Takeda Pharmaceutical Company Limited (Takeda) has entered into an agreement to divest a portfolio of select over-the-counter (OTC) and prescription pharmaceutical assets within its Growth and Emerging Markets Business Unit to Acino for over US$200 million. (US$1 = RM4.19)
The agreement involves assets sold in a number of Near East, Middle East and Africa countries of which, Egypt, Saudi Arabia, South Africa, Turkey, Ukraine and the United Arab Emirates are among key countries.
Under the terms of agreement, Acino, a Swiss pharmaceutical company, will acquire the rights, title and interest to the products in the portfolio exclusive to these countries.
It is anticipated that primarily, sales and marketing professionals supporting the portfolio will transition to Acino at the closing of the transaction.
The parties will also enter into a multi-year manufacturing and supply agreement under which Takeda will continue to manufacture the products on behalf of Acino.
The Japan-based biopharmaceutical leader will use the proceeds to reduce debt and continue to deleverage towards its target of 2.0x net debt/adjusted EBITDA over the next three to five years.
The transaction is expected to close between January and March next year, subject to the satisfaction of customary closing conditions, including receipt of applicable antitrust approvals. Until then, these products will continue to be made available by Takeda.
Takeda is being advised by BofA Securities (financial adviser), White & Case (legal adviser) and Deloitte (financial consultant) in this transaction.
-- BERNAMA
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