CROCUS TECHNOLOGY ENHANCES ACCURACY OF ENERGY METERING SOLUTIONS

TMR Sensor Reference Design with Digital Output Simplifies Implementation

MILPITAS, Calif., May 25 (Bernama-GLOBE NEWSWIRE) -- Crocus Technology Inc., developer of XtremeSense® TMR sensors, today announced the release of a high accuracy energy metering solution with isolated current sensing and a digital output. The solution is capable of measuring power, voltage and current while providing 1,820 V_PK isolation in AC or DC applications. The result is a smaller and more efficient design without the use of large current transformers. The solution is ideal for a range of smart devices such as power supply monitors, electric vehicle chargers, household appliances, motor control and smart lighting.

The solution consists of the Crocus’ CT430 TMR isolated current sensor, Microchip’s ATtiny426 microcontroller, Printed Circuit Board (PCB), design files, microcontroller firmware, Bill of Materials (BoM) list, user guide and relevant support for designing a fully functional power monitoring solution. The design solution has been verified to accurately read and quantize the voltage and current values prior to calculating the instantaneous and Root Mean Square (RMS) power components, active and reactive power, as well as power factor. These power values are stored in registers which can be accessed by an external microcontroller via the SPI interface. By offloading the design effort of measuring and calculating power, the Crocus metering solution simplifies the addition of metering capabilities to any smart device. 

http://mrem.bernama.com/viewsm.php?idm=43243

AM BEST AFFIRMS CREDIT RATINGS OF FUSURE REINSURANCE COMPANY LIMITED

HONG KONG, May 26 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of FuSure Reinsurance Company Limited (FuSure) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect FuSure’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings also reflect the implicit and explicit support from its ultimate parent, Tencent Holdings Limited (Tencent), including capital, business development, investment, risk management and operational support.

AM Best projects FuSure’s risk-adjusted capitalisation to remain at the strongest level throughout the forecast period up to 2025, as measured by Best’s Capital Adequacy Ratio (BCAR). This result is underpinned by expected capital support from its shareholders, prudent investment strategy and retrocession support. Partially offsetting factors to the balance sheet strength include the modest size of the capital base and the projected fast-increasing underwriting leverage.

As a start-up reinsurer, FuSure projects moderate net losses during the first few years of operation. Notwithstanding, the company reported a significantly smaller-than-expected net loss in 2021, attributed to its higher earned premium with more favorable claims and expense experiences. The company targets to achieve break-even by 2023 and deliver a mid-to-high single-digit return on equity by 2025. In addition, its book of business benefits from lowered underwriting volatility due to the sliding-scale commission structure of major treaties. FuSure’s investment return is projected to remain stable at low single digit over the forecast period, given that most of its invested assets are short-term investment-grade bonds. 

http://mrem.bernama.com/viewsm.php?idm=43255

CDW HOLDING UPDATES ON DIVERSIFICATION EFFORTS AND SUSTAINABILITY DIRECTION

 

• 
  As part of its diversification efforts, the Group has been pursuing new business opportunities which are aimed at transforming traditional industries to be more environment-friendly and to improve human life
• The diversification businesses span diverse industries like drug development, skincare, clean energy, and water purification
• Adopts UN Sustainable Development Goals as a framework to guide diversification efforts

SINGAPORE, May 24 (Bernama-GLOBE NEWSWIRE) -- SGX Mainboard-listed CDW Holding Limited (“CDW”, the “Company”, or collectively with its subsidiaries, the “Group”) is pleased to share an update on its diversification efforts and announce a new strategic direction for the Group, centred around the United Nations’ Sustainable Development Goals (“UN SDGs”).

CDW’s Diversification Efforts
The Group is a leading manufacturer of LCD Backlight Units for applications in various industries such as computer, automotive, and gaming and has recently also built up a promising OEM business in producing electronic payments systems and digital content editing devices. As the Group operates in a challenging industry with intense price competition and shortening product life cycles, it embarked on a diversification strategy in 2016 to identify other potential areas of growth and made its foray into Bio & life sciences and other businesses.

Bio & Life Sciences
The Group holds a patent for a synthetic antibody library through its subsidiary GSP Enterprise Inc. (“GSP”), which was established by the late Honorary Professor Shimizu Nobuyoshi of Keio University and acquired by the Company in 2018. GSP builds upon the late Professor Shimizu Nobuyoshi’s fundamental research in the medical field through developing specific antibodies to target tumours, viruses or other diseases, with the aim of creating immunotherapies for them. A Biotech Co., Ltd (“ABio”) was established in South Korea at the same time for antibody-related research and development.

The Group had previously announced key milestones in the development of novel antibody drugs aimed at treating various cancers. The most promising candidate thus far, the anti-Cripto-1 antibody, was patented in September 2020 and has been shown to be effective at inhibiting the self-proliferation of cancer stem cells. Recent anti-Cripto-1 antibody research have been led by ABio, which is conducting a pre-clinical efficacy study at the National Cancer Centre of Korea.

“The late Professor Emeritus Nobuyoshi Shimizu of Keio University passed away from cancer in 2015 after founding GSP to commercialize his research. In 2018, we acquired GSP to continue the late Professor Shimizu's legacy and advance his cancer drug development fundamental research, and help more people suffering from cancer globally. ABio was established at the same time and is currently continuing its research in collaboration with GSP,” said Mr Yoshikawa Makoto, the Chairman and Chief Executive Officer of the Group.

Apart from aiming to treat serious illnesses through fundamental research, the Group has also made strides in addressing the growing consumer demand for beauty and wellness. The Group acquired Intellectual Property Rights in 2016 related to the functional use and manufacture of organic compounds including Pterostilbene Glycoside products which have antioxidant, anti-aging and hair growth benefits. In addition, the Group is also looking to licence out its recently acquired patent on the cancer stem cell growth inhibitory effect of pterostilbene and/or its glycosides.

In September 2021, the Group announced the launch of its own skincare brand YOSHIMI JAPAN following five years of research and development into the anti-aging pterostilbene glycoside compound, which was shown to have greater efficacy at addressing the anti-wrinkle segment of topical beauty products. The product is currently available online to consumers in Japan, China, Hong Kong, and Singapore. A licensing agreement has also been signed with a Japanese cosmetics manufacturer to use pterostilbene glycoside in various product lines of the cosmetics manufacturer’s customers, with product launches scheduled to begin later in 2022.

Environment-Friendly Products and Technologies
As a contract manufacturer, CDW is keenly aware of the carbon footprint and environmental impact that can be caused by traditional industries. That is why it has been actively pursuing new business opportunities in environmental products and technologies which include clean energy and nanomaterials.

In July 2021, the Group secured the rights to distribute CUBOX portable lithium-ion battery packs for use in industrial, household and medical settings in Japan.

The Group has also obtained the global distributorship rights to Japanese alkaline water generator brand, Nihon Trim Co.,Ltd¹. (“TRIM”). The deal will allow the Group to capture new opportunities as the demand for alkaline water generators grows around the world. According to market research firm Global Information Inc., the global water ionizer market is estimated to grow at a CAGR of 4.22% to reach over US$ 1.6 billion by 2027. The global distributorship will see the Group distribute TRIM’s products in overseas countries, excluding Indonesia and Guangdong province in China. The Group is already exporting and selling its products to some countries and regions.

CDW has also secured the exclusive rights to market in Japan and distribute electric boat propulsion systems that are developed by Electrine² of Korea (formerly known as LGM Co., Limited, with which the Company has a 2.3% stake), a leading Korean electric boat building company, with currently discussions for the rights to Hong Kong and Singapore ongoing. The electric boat propulsion system was the first electric propulsion unit in Japan to qualify for pre-inspection. The advantage of electric ship propulsion unit is that they require no fossil fuels, thus enabling the realisation of decarbonisation. Additionally, the Company will also develop and sell fuel-efficient and environment-friendly ship-bottom paints which use nanomaterial technology. Further research is underway to improve the efficacy of ship-bottom paints samples being tested on marine vessels.

The Group also exhibited its electric boat propulsion systems and ship-bottom paints at the Japan International Boat Show³, Japan's largest ship-related exhibition, held from 31 March to 3 April 2022. Several potential customers, including large leisure facility operators, were given the opportunity to meet with the Group and negotiations are underway for sales. The Japan International Boat Show is also being held in an online venue from 18 March to 31 August 2022, and still exhibiting.

Adopting the UN SDG Framework
In order to focus its diversification efforts, the Group has decided to adopt a strategic framework that is centred around the UN SDGs, which consists of 17 goals and 169 targets. Adopted at the UN Summit in September 2015, the goals were set by 193 UN member countries to be achieved in 15 years from 2016 to 2030.

In particular, the last few years have seen a renewed focus among institutional investors on environmental, social, and governance, or ESG standards. The scars of the global pandemic, as well as mounting concerns over the impact of environmental degradation from industrial activity around the world have led to a growing demand for sustainability solutions.

“CDW has always been exploring opportunities in the areas of health and environment. This would further enhance our attractiveness to institutional investors, as we continue to strengthen our revenue streams and diversify our competencies beyond LCD backlight units,” remarked Mr Yoshikawa Makoto.

Meeting the growing ESG demand
With investments in ESG trending, and CDW believes that its new strategic direction is the right step forward to meet that growing demand from institutional investors. Bloomberg forecasts that ESG Assets Under Management (“AUM”) could grow to US$53tn by end-2025, having already reached US$30.6tn by end-2021. On the debt-issuance front, ESG-themed issuance took almost 12 years from 2007, to reach US$1tn but just one year to reach USD2tn over 2020. In just the first six months of 2021, it crossed another US$1tn and is estimated to surpass USD11tn by end-2025.

About CDW Holding Limited                (www.cdw-holding.com.hk)

CDW Holding Limited (the “Company” and together with its subsidiaries, the “Group”) is a Japanese-managed precision components specialist serving the global market focusing on the production and supply of niche precision components for mobile communication equipment, gamebox entertainment equipment, consumer and information technology equipment, office equipment and electrical appliances. The Group is headquartered in Hong Kong and has operations in Japan, China and the Philippines. The Company has been identifying new businesses to invest in with the potential for growth and entered as part of its diversification strategy and has made forays into the Life Sciences sector since 2016. The Company’s aim for its Life Sciences business is to identify research-driven yet commercializable projects that can have a positive impact on the quality of human life.

Issued on behalf of : CDW Holding Limited
Contact : Ivan Hong / Gerald Woon
Office : (65) 6704 9288
Email / DID / Mobile : ivanhong@cogentcomms.com / (65) 6704 9287 / (65) 9055 8883
woon@cogentcomms.com / (65) 6704 9268 / (65) 9694 8364 


¹ Listed on the Tokyo Stock Exchange TRIM’s alkaline water generators are being used across a wide variety of settings; ranging from the home, to hospitals, commercial, and agricultural businesses. https://www.nihon-trim.co.jp/english/
² http://www.electrine.co.kr/main
³ https://online.boatshow.jp/exhibitors/tomoike/ 


SOURCE : CDW Holding Limited

LATE-BREAKING RESULTS SHOW EFFICACY FOR CCM IN PATIENTS WITH HFPEF

 Investigators Report Positive Findings From Feasibility Study of CCM in Heart Failure With Preserved Ejection Fraction at the European Society of Cardiology Heart Failure 2022 Congress


MADRID and MARLTON, N.J., May 24 (Bernama-GLOBE NEWSWIRE) -- Impulse Dynamics, a global medical device company dedicated to improving the lives of people with heart failure (HF), announced today a late-breaking presentation of results from the CCM-HFpEF Piloty Study, which is the largest clinical trial to date studying the effects of the company’s proprietary CCM® therapy to treat HF with preserved ejection fraction (HFpEF). The results presented — including a substantial 18 point improvement in the Kansas City Cardiomyopathy Questionnaire (KCCQ) quality of life score — indicate that, for patients with heart failure and left ventricular ejection fraction (LVEF) ≥50%, CCM therapy not only offered meaningful improvement in quality of life but also substantially decreased hospitalizations versus the patient’s experience prior to the Optimizer® implant. The results were presented at the European Society of Cardiology’s Heart Failure 2022 Congress.

Patients with HFpEF suffer from debilitating symptoms and have very few therapeutic options. This patient population is a similar size as the one with reduced ejection fraction and has been shown to have similar struggles with quality of life, hospitalizations, and mortality. 

Cecilia Linde, MD, Professor and Consultant in Cardiology at the Heart and Vascular Theme of Karolinska University Hospital and the Karolinska Institute in Stockholm, Sweden, who was the co-principal investigator for this investigation, said, “The CCM-HFpEF Pilot Study was conducted to explore the hypothesis that CCM therapy might benefit patients with HFpEF. Our hypothesis was based on evidence of greater benefits in CCM HFrEF studies in those with higher LVEF range and from case reports of HFpEF patients. In our CCM-HFpEF-Pilot Study, we found significant benefits from CCM therapy in patients with preserved LVEF, supporting prior findings. I look forward to following the progress of the recently begun pivotal AIM HIGHer trial to continue this journey further.”

Dr. Ishu Rao, Medical Director for Impulse Dynamics, welcomed these results because they confirm the potential for positive results in the company’s recently initiated AIM HIGHer trial. “We are also excited to announce that enrollment is well underway for this landmark IDE-approved, multicenter, randomized, and blinded pivotal trial designed not only to confirm Dr. Linde’s groundbreaking work presented today but to go further yet by providing the first long term morbidity and mortality results for a modern Optimizer CCM device. While Dr. Linde specifically studied patients with EFs ≥50%, in AIM HIGHer, we are examining the efficacy of CCM therapy in 1,500 patients with EFs between 40% and 60%. This represents a large cohort of patients who currently have minimal treatment options and are clamoring for help. If AIM HIGHer's results are consistent with Dr. Linde’s findings, we may finally begin to close the significant gap in care that exists for millions of patients afflicted with HF and higher EF.”

HF affects more than 64 million people worldwide and leads to dramatic declines in a patient’s quality of life. Patients are often classified by a measure of cardiac function known as the ejection fraction (EF), which describes the percentage of blood pumped out of the left ventricle with each heartbeat. CCM therapy is currently indicated in Europe for patients that have an EF below 50% and has been proven to reduce hospitalizations. However, HF patients with higher EF have had few therapeutic options thus far to alleviate their symptoms and treat their disease.

The purpose of the AIM HIGHer trial — the largest randomized, sham-controlled, device-based interventional heart failure trial — is to further assess the potential of CCM to improve performance and reduce cardiovascular morbidity and mortality for these patients. CCM therapy for HFpEF has already received the FDA’s breakthrough device designation. The Breakthrough Devices Program is a voluntary program for certain medical devices that provide more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. The goal of the Breakthrough Devices Program is to provide patients and health care providers with timely access to these medical devices by speeding up their development, assessment, and review while preserving the statutory standards consistent with the Agency's mission to protect and promote public health.

The Optimizer Smart Mini delivers CCM therapy which consists of precisely timed electrical pulses sent to the heart. These signals are designed to improve the heart’s ability to function properly, allowing more oxygen-rich blood to be pushed out through the body.

About Impulse Dynamics

Impulse Dynamics, based in Marlton, NJ, is dedicated to helping healthcare providers enhance the lives of people with heart failure by transforming how the condition is treated. The company has pioneered CCM® therapy, which is delivered by the company’s Optimizer® Smart Mini, an FDA-approved treatment verified to improve the quality of life for certain heart failure patients. CCM therapy is a safe, effective, and minimally invasive treatment option for many heart failure patients who otherwise have few effective options available to them. To learn more, visit www.ImpulseDynamics.com, or follow the company on LinkedIn, Twitter, and Facebook.

Forward-looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements include, but are not limited to, statements concerning: potential benefits of CCM therapy and the ability for CCM therapy and our products to fill a significant unmet medical need for patients with heart failure; and the short-term and long-term benefits of the Optimizer Smart Mini and CCM therapy in patients with heart failure, as well as to the physicians treating those patients. These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release include, without limitation: the Company’s future research and development costs, capital requirements and the Company’s needs for additional financing; commercial success and market acceptance of CCM therapy; the Company’s ability to achieve and maintain adequate levels of coverage or reimbursement for Optimizer Smart and Optimizer Smart Mini systems or any future products the Company may seek to commercialize; competitive companies and technologies in the industry; the Company’s ability to expand its indications and develop and commercialize additional products and enhancements to its current products; the Company’s business model and strategic plans for its products, technologies and business, including its implementation thereof; the Company’s ability to expand, manage and maintain its direct sales and marketing organization; the Company’s ability to commercialize or obtain regulatory approvals for CCM therapy and its products, or the effect of delays in commercializing or obtaining regulatory approvals; FDA or other U.S. or foreign regulatory actions affecting us or the healthcare industry generally, including healthcare reform measures in the United States and international markets; the timing or likelihood of regulatory filings and approvals; and the Company’s ability to establish and maintain intellectual property protection for CCM therapy and products or avoid claims of infringement. The Company does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

###

Rex Richmond, Director (Media Relations)
Impulse Dynamics
856-642-9933
rrichmond@impulsedynamics.com

Harriss Currie, CFO (Investor Relations)
Impulse Dynamics
856-642-9933
hcurrie@impulsedynamics.com

Ian Segal, Manager (Public Relations)
Impulse Dynamics
856-642-9933
isegal@impulsedynamics.com 

SOURCE : Impulse Dynamics

AM BEST AFFIRMS CREDIT RATINGS OF ASIAN REINSURANCE CORPORATION

 SINGAPORE, May 23 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Asian Reinsurance Corporation (Asian Re) (Thailand). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Asian Re’s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM).

Asian Re’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which AM Best expects to remain at the strongest level over the medium term. Asian Re is viewed to have moderate reliance on retrocession to support its underwriting of large limit risks, as well as to manage accumulation and catastrophe exposures. A significant offsetting balance sheet strength factor is the company’s high risk investment strategy, with it holding a sizeable portion of cash and deposits in offshore countries, one of which is subject to sanctions and the other being currently in default of its sovereign debt. AM Best views this investment strategy as creating increased liquidity and credit risk for Asian Re, as the imposition of existing and future sanctions or deepening of economic crisis in these respective countries may drive a heightened potential for transfer restrictions, which may impact the company’s ability to access its funds in a timely manner.

AM Best views the company’s operating performance as marginal. Asian Re’s operating performance has exhibited volatility in recent years, with a five-year average return-on-equity ratio of -0.1% and a combined ratio of 123.6% (2017-2021), as calculated by AM Best. The company’s underwriting performance has been impacted by higher-than-expected large and catastrophe losses, as well as a reserve strengthening exercise in recent years; however, in 2021, the combined ratio improved to 107.4%. A stable stream of investment income has helped offset underwriting losses over a number of years, including 2021. Nonetheless, achievement of future profitability remains subject to an elevated level of execution risk of remedial actions in a competitive market environment and a challenging investment landscape in a low interest rate environment.

AM Best views Asian Re’s business profile as limited, given the company’s position as a regional non-life reinsurer, with a modest-sized gross premium base of USD 23.5 million in 2021. The company’s scale and market presence contracted significantly, following catastrophe events in 2011, which led to a need to recapitalise the company. Despite persistent market and regulatory challenges, the company continues to implement a number of strategic initiatives and business partnerships aimed at expanding its underwriting portfolio and market presence.

AM Best considers Asian Re’s ERM approach to be appropriate given the size and complexity of its current operations. The company continues to develop its risk framework and has demonstrated improvements in its risk management capabilities over recent years.

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

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

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

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Susan Tan
Financial Analyst
+65 6303 5023
susan.tan@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Kanika Thukral
Senior Financial Analyst
+65 6303 5025
kanika.thukral@ambest.com

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com

Source : AM Best