KUALA LUMPUR, Dec 20 (Bernama) -- St Kitts and Nevis Prime Minister, Dr Terrance Drew has delivered a comprehensive analysis of the nation’s fiscal performance and outlined future economic plans during his 2024 Budget Address.
The central theme of the 2024 budget speech, "Marching Forward on the Journey to a Sustainable Island State", underscored the government's commitment to transforming into a sustainable island state.
Dr Drew outlined the seven pillars forming the foundation of a sustainable island state, namely, water security; energy transition; food security; sustainability industry; sustainable settlements; circular economy; and social protection.
According to a statement, these pillars serve as the focal points for the 2024 budget address, laying the groundwork for sustainable development in St Kitts and Nevis.
Dr Drew also acknowledged the achievements in tourism that received international recognition, positioning St Kitts and Nevis as a prominent destination in the Eastern Caribbean.
The 2024 Budget Address reflects the government's commitment to sustainable development, fiscal responsibility, and the well-being of St Kitts and Nevis’ citizens. The outlined initiatives and improvements aim to strengthen the nation's economy, infrastructure and overall prosperity.
Furthermore, he highlighted the Citizenship by Investment (CBI) Programme's remarkable contribution, exceeding budget expectations by 54.9 per cent, as well as emphasised the importance of supporting the CBI Programme for sustainable economic development.
The Prime Minister also announced the imminent launch of a Contributory Pension Plan, aimed at enhancing the welfare and financial security of public sector employees, in which the plan is strategically designed for a secure and sustainable pension system.
Meanwhile, the economic benefits of a higher minimum wage were also highlighted, empowering workers and stimulating local businesses, in which effective Jan 1, 2024, the minimum wage will rise from EC$9 per hour to EC$10.75 per hour, reflecting the government's dedication to improving the financial well-being of minimum wage earners. (EC$1=RM1.72)
-- BERNAMA
Wednesday, 20 December 2023
ST KITTS AND NEVIS 2024 BUDGET ADDRESS FOCUSES ON BUILDING SUSTAINABLE ISLAND STATE
Friday, 15 December 2023
AM BEST AFFIRMS CREDIT RATINGS OF PROVIDENT INSURANCE CORPORATION LIMITED
SINGAPORE, Dec 14 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Provident Insurance Corporation Limited (PICL) (New Zealand). The outlook of these Credit Ratings (ratings) is positive.
The ratings reflect PICL’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The positive outlooks reflect an improving trend in balance sheet fundamentals, including an increase in and greater stability of PICL’s risk-adjusted capitalisation, combined with growth of the company’s absolute capital base. Additionally, successful execution of PICL's business plan is expected to further support prospective internal capital generation.
The balance sheet strength assessment is underpinned by PICL’s risk-adjusted capitalisation, which is at the strongest level in fiscal year (FY) 2023, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best expects PICL’s risk-adjusted capitalisation to remain at least at the strong level over the medium term, supported by positive retained earnings and conservative investment strategy. An offsetting balance sheet factor includes exposure to long-duration policies that increases reserving risk.
AM Best views PICL’s operating performance as adequate. The company reported a five-year average return-on-equity ratio of 13.8% (FYs ending 31 March 2019 – 2023), showing a positive trend in underwriting performance over this period. PICL has made significant investments into its information technology and pricing capabilities, which will increase the expense ratio in the short term but are expected to support prospective operating performance.
AM Best assesses PICL’s business profile as limited. This reflects the company’s relatively modest scale of operations and limited geographical diversification, with all business emanating from New Zealand. PICL is a niche insurer that focuses on mechanical breakdown insurance and private motor vehicle products, largely distributed through motor dealerships and several distribution partners across its domestic market.
AM Best assesses PICL’s ERM as appropriate, given the size and complexity of its operations. AM Best views the successful execution of the company’s underwriting strategy and planned infrastructure investment to be a key risk exposure. Over the medium term, PICL’s risk management capabilities are expected to continue to develop in order to support increasing operational scale and widening product offerings.
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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
http://mrem.bernama.com/viewsm.php?idm=47773
The ratings reflect PICL’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The positive outlooks reflect an improving trend in balance sheet fundamentals, including an increase in and greater stability of PICL’s risk-adjusted capitalisation, combined with growth of the company’s absolute capital base. Additionally, successful execution of PICL's business plan is expected to further support prospective internal capital generation.
The balance sheet strength assessment is underpinned by PICL’s risk-adjusted capitalisation, which is at the strongest level in fiscal year (FY) 2023, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best expects PICL’s risk-adjusted capitalisation to remain at least at the strong level over the medium term, supported by positive retained earnings and conservative investment strategy. An offsetting balance sheet factor includes exposure to long-duration policies that increases reserving risk.
AM Best views PICL’s operating performance as adequate. The company reported a five-year average return-on-equity ratio of 13.8% (FYs ending 31 March 2019 – 2023), showing a positive trend in underwriting performance over this period. PICL has made significant investments into its information technology and pricing capabilities, which will increase the expense ratio in the short term but are expected to support prospective operating performance.
AM Best assesses PICL’s business profile as limited. This reflects the company’s relatively modest scale of operations and limited geographical diversification, with all business emanating from New Zealand. PICL is a niche insurer that focuses on mechanical breakdown insurance and private motor vehicle products, largely distributed through motor dealerships and several distribution partners across its domestic market.
AM Best assesses PICL’s ERM as appropriate, given the size and complexity of its operations. AM Best views the successful execution of the company’s underwriting strategy and planned infrastructure investment to be a key risk exposure. Over the medium term, PICL’s risk management capabilities are expected to continue to develop in order to support increasing operational scale and widening product offerings.
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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
http://mrem.bernama.com/viewsm.php?idm=47773
GETMYBOAT HELPS BOAT BUSINESSES GROW WITH A POWERFUL DIRECT BOOKING FEATURE
The world’s leading boat rental platform launches a new solution for charter businesses to streamline payments and scheduling for just 1.5%
MENLO PARK, Calif., Dec 15 (Bernama-GLOBE NEWSWIRE) -- Getmyboat, the world's leading booking platform for yacht charters and boat rentals, is thrilled to announce the launch of its Direct Booking feature.
While consulting with partners of boating businesses of all sizes, Getmyboat discovered that many owners shared struggles in managing bookings from off-platform sources, including payment processing issues like fraud and chargebacks, claims management, fees for accepting credit payments, scheduling, renter communication and more which led to organizational headaches. To remedy these challenges, Getmyboat is focused on building a comprehensive software solution specifically designed for boat rental, yacht charter, and boat tour companies, and is constantly introducing new ways for owners to manage their entire business. The launch of Direct Booking on the Getmyboat app is a major first step in streamlining booking management, all for just 1.5%, which is among the lowest rates in the industry. Whether through their own websites, by email, Facebook, phone calls, or in person – Getmyboat owners can now take all leads and seamlessly turn them into bookings making it easier for them and their customers.
Key Benefits of Getmyboat's Direct Booking
Unified Management: Boat owners can now consolidate all bookings, regardless of the source, into one comprehensive platform, eliminating the need for multiple software solutions and calendars.
Simplified Offers and Payment Processing: With a few simple steps, owners can send out offers, securely collect payments including credit cards, and automatically synchronize bookings with their overall calendar, ensuring a hassle-free transaction process for both the owner and renter.
Fraud Protection and Dispute Resolution: Direct Booking benefits from Getmyboat's robust software, providing owners with fraud protection, claims process management, and efficient dispute resolution for all transactions.
Low Cost: Boating businesses only pay 1.5% per transaction to use the service. Not only does this cover credit card fees, but includes all the other integration features above.
Frank D, a fleet owner in Miami, expressed his enthusiasm, stating, "I'm really excited to use this new feature. Now, I will be able to see everything in one place, communicate with my clients on a single platform, and collect payments simply. And I'll know where all my boats are supposed to be no matter where the customer came from originally."
Bryan Petro, Getmyboat President, shared "We're thrilled to bring Direct Booking to our partners. We know they have a tremendously hard job on the logistics side of the business, and we can take what we’ve built and extend it to everyone to help their businesses grow."
Getmyboat owners can easily get started by opening the app or website, navigating to their inbox, and clicking on the "Add a Direct Booking" option. From there, they can enter customer and trip information, streamlining their management processes directly within their Getmyboat account.
As the top source of customers for boating businesses globally, Getmyboat continues to innovate to address the challenges faced by owners in managing their business across various platforms and is on a mission to provide the best growth tools in the industry.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d68cd4be-e68b-45b8-8caa-b31733c18679
For further information, please contact:
Val Streif Getmyboat
val@getmyboat.com
+1 612-298-2535
SOURCE : Getmyboat
MENLO PARK, Calif., Dec 15 (Bernama-GLOBE NEWSWIRE) -- Getmyboat, the world's leading booking platform for yacht charters and boat rentals, is thrilled to announce the launch of its Direct Booking feature.
While consulting with partners of boating businesses of all sizes, Getmyboat discovered that many owners shared struggles in managing bookings from off-platform sources, including payment processing issues like fraud and chargebacks, claims management, fees for accepting credit payments, scheduling, renter communication and more which led to organizational headaches. To remedy these challenges, Getmyboat is focused on building a comprehensive software solution specifically designed for boat rental, yacht charter, and boat tour companies, and is constantly introducing new ways for owners to manage their entire business. The launch of Direct Booking on the Getmyboat app is a major first step in streamlining booking management, all for just 1.5%, which is among the lowest rates in the industry. Whether through their own websites, by email, Facebook, phone calls, or in person – Getmyboat owners can now take all leads and seamlessly turn them into bookings making it easier for them and their customers.
Key Benefits of Getmyboat's Direct Booking
Unified Management: Boat owners can now consolidate all bookings, regardless of the source, into one comprehensive platform, eliminating the need for multiple software solutions and calendars.
Simplified Offers and Payment Processing: With a few simple steps, owners can send out offers, securely collect payments including credit cards, and automatically synchronize bookings with their overall calendar, ensuring a hassle-free transaction process for both the owner and renter.
Fraud Protection and Dispute Resolution: Direct Booking benefits from Getmyboat's robust software, providing owners with fraud protection, claims process management, and efficient dispute resolution for all transactions.
Low Cost: Boating businesses only pay 1.5% per transaction to use the service. Not only does this cover credit card fees, but includes all the other integration features above.
Frank D, a fleet owner in Miami, expressed his enthusiasm, stating, "I'm really excited to use this new feature. Now, I will be able to see everything in one place, communicate with my clients on a single platform, and collect payments simply. And I'll know where all my boats are supposed to be no matter where the customer came from originally."
Bryan Petro, Getmyboat President, shared "We're thrilled to bring Direct Booking to our partners. We know they have a tremendously hard job on the logistics side of the business, and we can take what we’ve built and extend it to everyone to help their businesses grow."
Getmyboat owners can easily get started by opening the app or website, navigating to their inbox, and clicking on the "Add a Direct Booking" option. From there, they can enter customer and trip information, streamlining their management processes directly within their Getmyboat account.
As the top source of customers for boating businesses globally, Getmyboat continues to innovate to address the challenges faced by owners in managing their business across various platforms and is on a mission to provide the best growth tools in the industry.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d68cd4be-e68b-45b8-8caa-b31733c18679
For further information, please contact:
Val Streif Getmyboat
val@getmyboat.com
+1 612-298-2535
SOURCE : Getmyboat
Thursday, 14 December 2023
DOCTORS AND EXPERTS AROUND THE WORLD CALL FOR URGENT ACTION TO PREVENT LIVER HEALTH CRISIS
Global Liver Institute’s Second Edition “Global State of Liver Health” Report Reveals Promising Opportunities
Washington D.C., Dec 13 (Bernama-GLOBE NEWSWIRE) -- Global Liver Institute (GLI), the premier patient-led liver health nonprofit operating globally, released the second edition of its “Global State of Liver Health” report, now including 22 countries covering every region of the world. Following the impetus of the Liver Health is Public Health initiative, international experts drew attention to pressing opportunities for their respective governments to prioritize and improve liver health.
Liver disease continues to pose a heavy burden for the world and its health systems:
Washington D.C., Dec 13 (Bernama-GLOBE NEWSWIRE) -- Global Liver Institute (GLI), the premier patient-led liver health nonprofit operating globally, released the second edition of its “Global State of Liver Health” report, now including 22 countries covering every region of the world. Following the impetus of the Liver Health is Public Health initiative, international experts drew attention to pressing opportunities for their respective governments to prioritize and improve liver health.
Liver disease continues to pose a heavy burden for the world and its health systems:
- Liver disease causes 2 million deaths per year around the globe.
- An estimated 1.5 billion people in the world have chronic liver disease – an increase of 13% since the beginning of the millennium.
- About 70% of liver cancer is preventable.
- Even rare liver diseases appear to be rising in prevalence; in Germany, for instance, prevalence has risen by around 30% in less than five years.
“Our continued exploration of the scope and scale of the impact of liver diseases gives us both pause and hope. Powerful human intellect has developed many innovative solutions,” noted GLI CEO Donna R. Cryer, JD. “Rather than let these solutions go to waste, it is now time to direct political will towards putting them into practice and ensuring the ability to achieve liver health – and overall health – around the world.”
Strategies and technologies currently exist that can prevent liver disease or catch it early. However, putting these tools into practice can require financial investment, expert training, and often complex execution on a scale that necessitates government support. Several of the report’s expert advisors highlighted the policy opportunities and successes that might support liver health:
“We don’t have many tools currently to control tobacco smoking, alcohol consumption, and even the consumption of unhealthy diets in Vietnam,” shared Dr. Tung Pham, report advisor and lecturer /physician at Hanoi Medical University. “These are the second and third leading factors, so a tightening of standards, maybe raising taxes and implementing other promotional programs, will be essential.”
In contrast, a liberal treatment program that provided newly developed hepatitis C treatment to patients in Australia without many barriers has eliminated more than half of the viral disease throughout the country. As report advisor and leading hepatologist Dr. Simone Strasser noted in the report, several features brought about a successful program, including comprehensive training of primary care providers, minimal direct cost to patients, and local access to treatment.
National experts have identified the greatest threats to liver health in their communities. Now, those who care about liver health and its related conditions must urge their national leaders to prioritize and implement solutions.
The Liver Health is Public Health initiative is made possible thanks to the support of Sanofi and Salix Pharmaceuticals.
###
About Global Liver Institute
Global Liver Institute (GLI) is a 501(c)3 nonprofit organization founded in the belief that liver health must take its place on the global public health agenda commensurate with the prevalence and impact of liver illness. GLI promotes innovation, encourages collaboration, and supports the scaling of optimal approaches to help eradicate liver diseases. Operating globally, GLI is committed to solving the problems that matter to liver patients and equipping advocates to improve the lives of individuals and families impacted by liver disease. GLI holds Platinum Transparency with Candid/GuideStar, is a member of the National Health Council, and serves as a Healthy People 2030 Champion. Follow GLI on Facebook, Instagram, LinkedIn, and YouTube or visit www.globalliver.org.
http://mrem.bernama.com/viewsm.php?idm=47760
Strategies and technologies currently exist that can prevent liver disease or catch it early. However, putting these tools into practice can require financial investment, expert training, and often complex execution on a scale that necessitates government support. Several of the report’s expert advisors highlighted the policy opportunities and successes that might support liver health:
“We don’t have many tools currently to control tobacco smoking, alcohol consumption, and even the consumption of unhealthy diets in Vietnam,” shared Dr. Tung Pham, report advisor and lecturer /physician at Hanoi Medical University. “These are the second and third leading factors, so a tightening of standards, maybe raising taxes and implementing other promotional programs, will be essential.”
In contrast, a liberal treatment program that provided newly developed hepatitis C treatment to patients in Australia without many barriers has eliminated more than half of the viral disease throughout the country. As report advisor and leading hepatologist Dr. Simone Strasser noted in the report, several features brought about a successful program, including comprehensive training of primary care providers, minimal direct cost to patients, and local access to treatment.
National experts have identified the greatest threats to liver health in their communities. Now, those who care about liver health and its related conditions must urge their national leaders to prioritize and implement solutions.
The Liver Health is Public Health initiative is made possible thanks to the support of Sanofi and Salix Pharmaceuticals.
###
About Global Liver Institute
Global Liver Institute (GLI) is a 501(c)3 nonprofit organization founded in the belief that liver health must take its place on the global public health agenda commensurate with the prevalence and impact of liver illness. GLI promotes innovation, encourages collaboration, and supports the scaling of optimal approaches to help eradicate liver diseases. Operating globally, GLI is committed to solving the problems that matter to liver patients and equipping advocates to improve the lives of individuals and families impacted by liver disease. GLI holds Platinum Transparency with Candid/GuideStar, is a member of the National Health Council, and serves as a Healthy People 2030 Champion. Follow GLI on Facebook, Instagram, LinkedIn, and YouTube or visit www.globalliver.org.
http://mrem.bernama.com/viewsm.php?idm=47760
Thursday, 7 December 2023
"GIGAFARM" CAPABLE OF REPLACING 1% OF UAE FOOD IMPORTS SET FOR CONSTRUCTION IN DUBAI FOOD TECH VALLEY
DUBAI, United Arab Emirates, Dec 7 (Bernama-GLOBE NEWSWIRE) -- Food Tech Valley has signed an agreement at COP28 with ReFarmTM to start construction on a 900,000 sq. ft. game-changing “GigaFarm”. The innovative waste-to-value farm will be capable of recycling more than 50,000 tonnes of food waste and growing two billion plants each year.
ReFarmTM was established in the UAE by SSK Enterprise and Christof Global Impact (CGI) as a group of companies with focus on projects with circularity and clean technologies. The brand chose vertical farming technology developed by infrastructure supplier Intelligent Growth Solutions (IGS) and is set to start construction in mid-2024 at Dubai’s Food Tech Valley, a master development launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum and being led by major Dubai property developer, Wasl. ReFarmTM has engaged its lead bank to arrange support from UK Export Finance within the UK Government’s Department for Business & Trade.
In a global first, six complementary technologies will be collocated on the Dubai Food Tech Valley site as part of a closed-loop circular waste-to-value system, establishing a self-contained ecosystem designed to maximise resource efficiency and prevent any waste going to landfill.
Capable of growing more than three million kilos of produce annually, the site will support the UAE’s move towards decarbonising food production, replacing 1% of the country’s fresh produce imports. Construction is due to begin in mid-2024, with the site expected to be fully operational by 2026.
HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said: “The United Arab Emirates’ economic growth strategy has placed a strong emphasis on diversification and sustainability, which includes developing new knowledge and capabilities in high-impact industries.
“Rethinking our food production systems is a clear priority, and the decision of ReFarm to launch a facility in Dubai’s Food Tech Valley is a significant step forwards for the development of a technologically advanced, low-carbon agricultural sector.”
Oliver Christof, CEO at Christof Global Impact (CGI), commented: “What has been achieved over the past 36 months in the UAE is a gamechanger for the sustainable food industry. A key factor for success is the open mindset by the UAE leadership and a strong focus on circularity, which allowed us to bring together various groups, including a broad variety of local stakeholders."
Press contact details:
Carla Furneaux
+447976226408
cfurneaux@webershandwick.com
Steven Flanagan
sflanagan@webershandwick.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1662d97a-085e-4e52-a984-01f0cd8ce049
SOURCE : ReFarm TM
ReFarmTM was established in the UAE by SSK Enterprise and Christof Global Impact (CGI) as a group of companies with focus on projects with circularity and clean technologies. The brand chose vertical farming technology developed by infrastructure supplier Intelligent Growth Solutions (IGS) and is set to start construction in mid-2024 at Dubai’s Food Tech Valley, a master development launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum and being led by major Dubai property developer, Wasl. ReFarmTM has engaged its lead bank to arrange support from UK Export Finance within the UK Government’s Department for Business & Trade.
In a global first, six complementary technologies will be collocated on the Dubai Food Tech Valley site as part of a closed-loop circular waste-to-value system, establishing a self-contained ecosystem designed to maximise resource efficiency and prevent any waste going to landfill.
Capable of growing more than three million kilos of produce annually, the site will support the UAE’s move towards decarbonising food production, replacing 1% of the country’s fresh produce imports. Construction is due to begin in mid-2024, with the site expected to be fully operational by 2026.
HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said: “The United Arab Emirates’ economic growth strategy has placed a strong emphasis on diversification and sustainability, which includes developing new knowledge and capabilities in high-impact industries.
“Rethinking our food production systems is a clear priority, and the decision of ReFarm to launch a facility in Dubai’s Food Tech Valley is a significant step forwards for the development of a technologically advanced, low-carbon agricultural sector.”
Oliver Christof, CEO at Christof Global Impact (CGI), commented: “What has been achieved over the past 36 months in the UAE is a gamechanger for the sustainable food industry. A key factor for success is the open mindset by the UAE leadership and a strong focus on circularity, which allowed us to bring together various groups, including a broad variety of local stakeholders."
Press contact details:
Carla Furneaux
+447976226408
cfurneaux@webershandwick.com
Steven Flanagan
sflanagan@webershandwick.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1662d97a-085e-4e52-a984-01f0cd8ce049
ISF NET ESTABLISHES SINGAPORE OFFICE AS IT SEEKS TO STRENGTHEN IT TALENT IN ASIA
SINGAPORE and TOKYO, Dec. 7, 2023 /Kyodo JBN-AsiaNet/ --
| - GLOBAL ISF PTE. LTD. to Bolster ISF NET, INC's Regional Presence and Support Its Ambitions in Global Expansion - ISF NET, INC., a leading Japanese IT services and staffing company, announced on December 7 the establishment of GLOBAL ISF PTE. LTD. in Singapore as it eyes greater business expansion in the Asian region. Logo: As part of its expansion into Singapore, ISF NET will invest approximately USD13.5 million (2 billion yen) in the venture, setting a sales target of USD20.3 million (3 billion yen) for the global business. The company aims to hire 150 employees by 2030 to bolster its support for clients in Singapore and other parts of Southeast Asia. With over two decades of industry experience and with offices in Japan, China and South Korea, ISF NET's entry into Singapore marks a significant step towards strengthening its position in Asia. More significantly, this move represents a strategic shift in ISF NET's focus of services from Japan to the global market. "As a renowned international talent hub, Singapore offers an ideal gateway for multinational companies aiming to grow in Asia," said Yukiyoshi Watanabe, President and CEO, ISF NET, INC. "I am confident that our foray into Singapore will further strengthen our presence in the region and empower clients with tailored IT infrastructure solutions to help them navigate and succeed in a region as diverse as Asia." Business Strategy in Singapore ISF NET's business strategy will focus on providing IT engineering HR support for companies in Singapore and recruiting Japanese-English and Korean-English speaking bilingual IT infrastructure engineers. The engineers will be hired from Singapore and other parts of Asia and will be staffed to IT infrastructure projects in Japan and Korea. http://mrem.bernama.com/viewsm.php?idm=47723 |
Tuesday, 5 December 2023
PACIFIC PRIME WINS PRESTIGIOUS HR MANAGEMENT SYSTEM (ENTERPRISE) AWARD
Pacific Prime CXA won the Bronze Award for Best HR Management System (Enterprise) at this year's HR Vendors of the Year Awards and was the sole insurance broker to receive the distinction. (Photo: Business Wire)
SINGAPORE, Dec 5 (Bernama-BUSINESS WIRE) -- Pacific Prime CXA won the Bronze Award for Best HR Management System (Enterprise) at this year's HR Vendors of the Year Awards in Singapore, presented by Human Resources Online. In addition to becoming the sole insurance broker to win this category, Pacific Prime CXA has made tremendous strides to become an insurance broker with the best HR management systems.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231204233908/en/
The HR Vendors of the Year, which took place on November 24, 2023, stands as a distinguished annual ranking with a longstanding history dedicated to recognizing and celebrating the premier HR solutions providers in Asia. This year’s edition of the awards was held at the Sofitel Singapore City Centre, where Singapore’s most forward-thinking solution providers converged.
Voted as a top 3 HR management system, Pacific Prime CXA's Portal is a trusted HR-enhancing platform for employee benefits management. With seamless third-party integration, simplified benefits management, and a mobile-friendly experience, the platform is the fastest flexible benefits platform in Singapore, capable of adjudicating over 2 million claims annually. Our platform reshapes the landscape of employee benefits administration with its features and user-friendly platform.
Additionally, the platform is customizable to meet the preferred configurations and needs of businesses, enabling the consolidated management of all claims on a single, centralized platform. This establishes Pacific Prime CXA’s Portal as Singapore’s premier solution for large Fortune 500 enterprises and SMEs.
The Portal exemplifies Pacific Prime CXA's dedication to providing an exceptional employee benefits experience; it was built on the expertise of insurance professionals with extensive experience in employee benefits administration across multiple continents.
Heena Bose, CEO of Pacific Prime CXA, shared, “Pacific Prime CXA is privileged to be acknowledged as the exclusive insurance broker awarded the top three position in the HR Management Systems category. Leveraging this achievement, the company remains committed to supporting our clients by delivering comprehensive solutions for benefit management, employee engagement, and retention."
To learn more about Pacific Prime CXA’s acquisition, please visit: https://www.pacificprime.com/corporate/about-us-corporate-insurance-brokers/pacific-prime-cxa
About Pacific Prime
Established in 2000, Pacific Prime is an award-winning global insurance brokerage and employee benefits specialist that offers individual and corporate insurance solutions. With USD $750 million worth of premiums under management, Pacific Prime is now the third largest employee benefits broker in Asia Pacific after acquiring CXA Group’s brokerage arms in 2021. The brokerage has over 1,000 employees and 15 offices worldwide, including Hong Kong, Singapore, China, Thailand, Malaysia, the UAE, the UK, the US, Mexico, and the Philippines.
To learn more about Pacific Prime, please visit: https://www.pacificprime.com/corporate
View source version on businesswire.com:
https://www.businesswire.com/news/home/20231204233908/en/
Contact
Stephen Ho
Chief Marketing Officer
Pacific Prime
+852 3589 0508
Source : Pacific Prime
Voted as a top 3 HR management system, Pacific Prime CXA's Portal is a trusted HR-enhancing platform for employee benefits management. With seamless third-party integration, simplified benefits management, and a mobile-friendly experience, the platform is the fastest flexible benefits platform in Singapore, capable of adjudicating over 2 million claims annually. Our platform reshapes the landscape of employee benefits administration with its features and user-friendly platform.
Additionally, the platform is customizable to meet the preferred configurations and needs of businesses, enabling the consolidated management of all claims on a single, centralized platform. This establishes Pacific Prime CXA’s Portal as Singapore’s premier solution for large Fortune 500 enterprises and SMEs.
The Portal exemplifies Pacific Prime CXA's dedication to providing an exceptional employee benefits experience; it was built on the expertise of insurance professionals with extensive experience in employee benefits administration across multiple continents.
Heena Bose, CEO of Pacific Prime CXA, shared, “Pacific Prime CXA is privileged to be acknowledged as the exclusive insurance broker awarded the top three position in the HR Management Systems category. Leveraging this achievement, the company remains committed to supporting our clients by delivering comprehensive solutions for benefit management, employee engagement, and retention."
To learn more about Pacific Prime CXA’s acquisition, please visit: https://www.pacificprime.com/corporate/about-us-corporate-insurance-brokers/pacific-prime-cxa
About Pacific Prime
Established in 2000, Pacific Prime is an award-winning global insurance brokerage and employee benefits specialist that offers individual and corporate insurance solutions. With USD $750 million worth of premiums under management, Pacific Prime is now the third largest employee benefits broker in Asia Pacific after acquiring CXA Group’s brokerage arms in 2021. The brokerage has over 1,000 employees and 15 offices worldwide, including Hong Kong, Singapore, China, Thailand, Malaysia, the UAE, the UK, the US, Mexico, and the Philippines.
To learn more about Pacific Prime, please visit: https://www.pacificprime.com/corporate
View source version on businesswire.com:
https://www.businesswire.com/news/home/20231204233908/en/
Contact
Stephen Ho
Chief Marketing Officer
Pacific Prime
+852 3589 0508
Source : Pacific Prime
Monday, 4 December 2023
WORLD EXCLUSIVE: BRISBANE, AUSTRALIA TO HOST BLUEY'S WORLD IMMERSIVE EXPERIENCE
BRISBANE, Dec.4, 2023/Medianet-AsiaNet/--
| OPENING AUGUST 2024 - Brand new Bluey immersive experience is coming to Brisbane, capital of Queensland, Australia, in August 2024. - Housed in the 4,000 square metre 'Northshore Pavilion', Bluey's World will be a unique experience celebrating the beloved hit TV show Bluey. This is Bluey – for real life. - Fans from around the world will be delighted and captivated as they are invited to step into Bluey's world. Bluey's World, a ground-breaking immersive experience will open in August 2024, exclusive to Brisbane, Queensland. Visitors will journey through a recreation of Bluey's renowned home via impressive (for real) life-size sets, interactive play and a mesmerising soundscape, inspired by much-loved Bluey episodes. From Bluey and Bingo’s bedroom to the living room and kitchen, fans will also get to play beneath the shady branches of the Poinciana tree in Bluey's backyard. There will be so much to love about this one-of-a-kind experience, including the option to book a birthday party at the coolest party venue! Visitors can also explore and enjoy a cafe, gift shop and playground following their interactive guided experience. Housed in its own purpose-built, state-of-the-art, 4000 square metre venue - 'Northshore Pavilion' - Bluey's World will be located in Brisbane's newest arts and entertainment precinct, Northshore. Annastacia Palaszczuk, Queensland Premier said "Our Government has backed Bluey from the very beginning. Brisbane is at Bluey's core and now the show is a global sensation, we want to invite fans from around the world to come and experience Bluey's home. "Queensland is a world-class place to live and play and I truly believe that is a big part of why Bluey has captured fans around the world." Fiona Lang, General Manager, BBC Studios ANZ, said: "BBC Studios is thrilled to announce the launch of Bluey's World, a groundbreaking immersive experience that will transport fans into the heart of Bluey like never before. "Bluey's World is not just an experience; it's a celebration of the heartwarming moments that make Bluey so authentically Australian and that bring to life the joyful simplicity that can be found in families around the world. "Join us on this one-of-a-kind adventure, where the world of Bluey comes to life in real life." Created by Joe Brumm, Bluey is produced by Emmy(R) Award-winning Ludo Studio for ABC KIDS and co-commissioned by ABC Children's and BBC Studios Kids and Family. A global phenomenon, the show follows the adventures of Bluey - a loveable, inexhaustible Blue Heeler dog - who lives with her Mum, Dad and her little sister Bingo. Bluey uses her limitless energy to play games that unfold in unpredictable and hilarious ways bringing her family and the whole neighbourhood into her world of fun. The show is now broadcasting and streaming in more than 60 countries and is beloved the world over by both parents and kids for its heart, humour and relatable family moments. Bluey’s World is produced by BBC Studios and HVK Productions, and supported by the Queensland Government through Tourism and Events Queensland, and Brisbane City Council via Brisbane Economic Development Agency, and features on the It's Live! in Queensland events calendar. To join the waitlist for Bluey's World tickets visit blueysworld.com Website: https://www.bluey.tv/ Facebook: https://www.facebook.com/OfficialBlueyTV/ Instagram: https://www.instagram.com/officialblueytv/ Assets: https://www.dropbox.com/scl/fo/ntjv2jho1cotyrxnnmfte/h?rlkey=2dmbjsj0mogs3x4fri96lyvc4&dl=0 #blueysworldbrisbane Media Contact Cinnamon Watson cinn@cinnamonwatsonpublicity.com.au | +61 432 219 643 Partnership & Sponsorship Contact Chantal Bindley chantal@artemispartnerships.com | +61 477 977 750 SOURCE: Bluey's World http://mrem.bernama.com/viewsm.php?idm=47678 |
Sunday, 3 December 2023
H2O GENAI DAY COMES TO SINGAPORE, EMPOWERING THE RISE OF GENAI AND DATA SCIENCE TALENT IN THE COUNTRY
H2O.ai to introduce a comprehensive GenAI Masterclass to democratize open source large language models (LLMs) and their applications
MOUNTAIN VIEW, Calif., Dec 1 (Bernama-BUSINESS WIRE) -- H2O.ai, the open source leader in Generative AI and machine learning, is responding to the overwhelming community and customer interest in bringing GenAI Training Days to more countries worldwide. H2O GenAI Singapore will showcase advancements and practical applications that further democratize GenAI.Event highlights include:
1. Fireside chat with Agus Sudjianto, EVP, Head of Corporate Model Risk, Wells Fargo, on Managing Opportunity and Risk of AI
2. GenAI for Social Good with real world examples by Genevieve Richards, Data Scientist, H2O.ai
3. Hands-on GenAI Masterclass on providing a deep understanding of open source LLMs and their applications. Hands-on labs to dive into foundational models, model evaluation, and advanced concepts such as fine-tuning and prompt engineering.
By the end of this training, participants will be able to:
· Demonstrate an understanding of GenAI concepts, as well as explore applications to business.
· Understand how using open source LLM models empowers companies to fine-tune their own models and also own their prompts and responses.
· Demonstrate an awareness of applied concepts such as fine-tuning, prompt engineering, LoRA, and Quantization.
· Demonstrate an understanding of evaluating LLMs using metrics such as BLEU, ROUGE, and AI-as-a-judge.
· Use H2O LLM Studio to train, deploy and apply guardrails to custom LLMs for business or personal GenAI applications.
Friday, 1 December 2023
CSOP HUATAI-PINEBRIDGE SSE DIVIDEND INDEX ETF TO BE LISTED ON SGX TODAY
CSOP Huatai-PineBridge SSE Dividend Index ETF (Stock Code: SHD) (Graphic: Business Wire)
SINGAPORE, Dec 1 (Bernama-BUSINESS WIRE) -- CSOP Huatai-PineBridge SSE Dividend Index ETF (Stock Code: SHD) lists on 1 December 2023 on Singapore Exchange (SGX Group). The listing price for SHD is fixed at SGD $1.00 per share, with a trading lot of 1 share and annual management fee of 0.89%. SHD is a feeder fund, which will invest at least 90% of its Net Asset Value in the Huatai-PineBridge SSE Dividend Index ETF, referred to as the “Underlying Fund”. This investment will be made directly and/or indirectly via the QFI status granted to CSOP Asset Management Pte. Ltd. (the “Manager”) and/or through any permissible means available to the fund under the prevailing laws and regulations. Listed in 2006, the Underlying Fund is currently the largest dividend ETF in mainland China, with AUM of RMB 16.2 billion as of 30th September 20231.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231130531285/en/
Dividend strategies often serve as a cushion amid volatile market environments. The SSE Dividend Index comprises of 50 high quality dividend-paying companies listed on the Shanghai Stock Exchange (SSE) as its constituents. The SSE Dividend Index has a total market capitalization of RMB 129.6 billion, covering energy, financials, industrials, materials, and various other sectors2. With a current PE ratio of less than 6x, its valuation is considerably lower in comparison with other similar dividend indexes and core broad-based A-share indexes3. SSE Dividend Index stands out with competitive year to date (YTD) total return of 3.64% with better estimated dividend yield of 6.06% when compared to other stocks listed on SSE, as well as top stocks listed in Singapore and Hong Kong4.
Earlier this year in May, the Shanghai Stock Exchange and the Singapore Exchange officially signed a Memorandum of Understanding (MoU) on ETF product connectivity. This marked a new step in product cooperation between the capital markets in China and Singapore, and a new level for the cross-border product connectivity business. The CSOP Huatai-PineBridge SSE Dividend Index ETF is one of the first pair of products under the SSE-SGX ETF link, providing Singapore investors with access to high-quality A-share opportunities. On the same day, Huatai-PineBridge Fund Management will also cross-list the CSOP iEdge Southeast Asia+ TECH Index ETF on Shanghai Stock Exchange.
Loh Boon Chye, CEO, SGX Group, said, “We are pleased to welcome CSOP Asset Management as the inaugural ETF issuer leveraging the SSE-SGX ETF Link for their ETF launch. With this listing, CSOP now stands as one of the largest ETF providers on SGX with six ETFs. The SSE-SGX ETF Link not only enhances connectivity between Singapore and China but also injects vibrancy into the investment landscape, providing investors with a wider array of options for China exposure. We hope this pioneering move by CSOP encourages more issuers to join the ETF Link, and expand opportunities for all.”
Ms. Ding Chen, CEO of CSOP Asset Management, is delighted to announce the listing of the CSOP Huatai-PineBridge SSE Dividend Index ETF on the Singapore Exchange. She remarks, "This signifies the sixth ETF product from CSOP in Singapore, and we extend our appreciation to SGX for their unwavering support. This ETF offers an attractive opportunity for investors to leverage the high dividend-paying stocks in China. The successful launch of this ETF will not only expand Singapore's ETF spectrum, but also cater to the requirements of sophisticated investors.”
About CSOP Singapore
CSOP entered the Singapore market in 2019 and established CSOP Asset Management Pte. Ltd. Following four years of development, it has successfully established itself as one of the leading ETF issuers in Singapore. CSOP’s impressive growth is evident in its substantial assets under management (AUM) of US$1.17 billion. This AUM represents a significant portion of the overall Singapore ETF market, accounting for 11% as of 31 March 2023 (Source: CSOP).
CSOP has achieved several significant milestones in its product offerings. Notably, the ICBC CSOP FTSE Chinese Government Bond Index ETF stands out as the largest China government bond ETF globally. Additionally, it holds a position among the top three largest ETFs in Singapore. CSOP iEdge S-REIT Leaders Index ETF sets a record for the highest first-day trading turnover for an ETF on SGX when it was launched, and it was also Singapore's largest REIT ETF IPO. CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF and CSOP CSI Star and ChiNext 50 Index ETF represent the first cross-listed ETF pair between China and Singapore. Meanwhile, CSOP USD Money Market Fund offers a T+0 settlement arrangement to Singapore investors. (Source: CSOP, Bloomberg)
Disclaimer
The investment product(s), as mentioned in this document, is/are registered under section 286 of the Securities and Futures Act (Cap. 289) of Singapore (the “SFA”). This material and the information contained in this material shall not be regarded as an offer or solicitation of business in any jurisdiction to any person to whom it is unlawful to offer or solicit business in such jurisdictions.
CSOP Asset Management Pte. Ltd. (“CSOP”) which prepared this document believes that information in this document is based upon sources that are believed to be accurate, complete, and reliable. However, CSOP does not warrant the accuracy and completeness of the information and shall not be liable to the recipient or controlling shareholders of the recipient resulting from its use. CSOP is under no obligation to keep the information up-to-date. The provision of this document shall not be deemed as constituting any offer, acceptance, or promise of any further contract or amendment to any contract. The information herein shall not be disclosed, used or disseminated, in whole or part, and shall not be reproduced, copied or made available to others without the written consent of CSOP.
Advice should be sought from a financial adviser regarding the suitability of the investment and/or investment product before making an investment. Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not necessarily indicative of future performance. Investor should read the prospectus and product highlights sheet, which can be obtained on CSOP website or authorized participating dealers, before deciding whether to invest. This document has not been reviewed by the Monetary Authority of Singapore.
Index Provider Disclaimer
All rights in the SSE Dividend Index (“Index”) vest in China Securities Index Company (“CSI”). CSI does not make any warranties, express or implied, regarding the accuracy or completeness of any data related to the Index. CSI is not liable to any person for any error of the Index (whether due to negligence or otherwise), nor shall it be under any obligation to advise any person of any error therein. The Product based on the Index is in no way sponsored, endorsed, sold or promoted by CSI and CSI shall not have any liability with respect thereto.
1 Source: Wind, Huatai-PineBridge Investments.
2 Source: Shanghai Stock Exchange.
3 Source: Wind, Huatai-PineBridge Investments, as of 31 August 2023.
4 Source: Bloomberg, CSOP, as of 3 November 2023.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20231130531285/en/
Contact
For further information, please contact
Jennifer Li +852 3406 5650 / marketing@csopasset.com
Tina Shu / +852 3406 5675 / marketing@csopasset.com
Yee Fei Soh / +65 6279 2855 / yeefei.soh@csopasset.com
Source : CSOP Asset Management Limited
CONTACT IMAGE SENSORS FOR HIGH-SPEED, HIGH-RES LINE SCAN IN PRODUCTION - TELEDYNE
KUALA LUMPUR, Dec 1 (Bernama) -- Teledyne DALSA, a part of Teledyne’s Vision Solutions group has announced that its AxCIS family of high-speed and high-resolution fully integrated line scan imaging modules are in production.
According to a statement, these easy-to-use Contact Image Sensors (CIS) combine sensors, lenses, and lights all-in-one, offering a lower cost inspection system for many demanding machine vision applications.
Powered by Teledyne’s multiline complementary metal-oxide semiconductor (CMOS) image sensors, AxCIS delivers superior image quality for mono or high dynamic range (HDR) imaging, at a pixel size of 28 micrometres or 900 dpi resolution, so that defects can be detected with unprecedented precision.
Its unique sensor design covers the entire field of view without missing pixels, providing a 100 per cent seamless image without any interpolation.
HDR imaging is achieved using dual rows with independent exposure control, which enables better detectability for highly reflective materials with improved dynamic range. In addition to defect detection, its unique design also supports true metrology applications.
With a small form factor and an optical path with an IP60 dust proof design, AxCIS which was designed with scalability to various fields of view with a single 24 volt power supply, can fit almost anywhere in the user’s system, even with limited vertical clearance.
-- BERNAMA
RAM LAXMAN JOINS BIOSKRYB GENOMICS AS CHIEF COMMERCIAL OFFICER
KUALA LUMPUR, Nov 30 (Bernama) -- BioSkryb Genomics, a company transforming single-cell molecular discovery and analysis, has appointed Dr Ram Laxman, as Chief Commercial Officer.
Dr Laxman will lead sales and support, commercial strategy and operations, and marketing as BioSkryb continues to scale its global presence, according to BioSkryb Genomics in a statement.
He brings strong executive leadership experience and an extensive track record of building and scaling businesses at companies like 10x Genomics, Pacific Biosciences, and Illumina.
“We are excited to welcome Ram to our leadership team and know that his deep expertise in establishing and growing a solid presence for some of the most successful companies in the genomics space will allow us to exponentially increase our international footprint.
“This year, BioSkryb has experienced a strong growth surge in North America where our focus has been, and with Ram on board, we are poised to drive significant growth for the company and expand the footprint of our industry leading single-cell products globally in the years to come,” said its Chief Executive Officer, Suresh Pisharody.
Meanwhile, Dr Laxman said he is looking forward to scaling BioSkryb’s presence across the globe and driving the company’s commercial pipeline to bring its technology to new users.
Dr Laxman joins BioSkryb from 10x Genomics, where he served as the President and General Manager, APAC, and as the company’s first hire in Asia Pacific (APAC), he was instrumental in building 10x Genomics’ presence in the region.
Before 10x Genomics, he was part of the very early commercial teams at Illumina and Pacific Biosciences. Dr Laxman holds a Doctor of Philosophy (PhD) in molecular biology and served as a postdoctoral fellow with the eminent Professor Daniel Koshland at the University of California, Berkeley.
His predecessor, Reagan Tully, has been appointed Chief Business Officer of the organisation, leading corporate, business, and market development functions, focused on expansion and adoption of the technology through key partnerships and collaborations across the industry.
These appointments reflect BioSkryb’s continued momentum in advancing single-cell analysis, including the launch of ResolveOME, a revolutionary multiomic solution, and the first-of-its-kind BaseJumper platform for multimodal bioinformatics analysis.
-- BERNAMA
Wednesday, 29 November 2023
BEST'S MARKET SEGMENT REPORT: AM BEST MAINTAINS STABLE OUTLOOK ON CHINA'S NON-LIFE INSURANCE SEGMENT
HONG KONG, Nov 29 (Bernama-BUSINESS WIRE) -- AM Best is maintaining a stable outlook on China’s non-life insurance segment given the growth momentum in the motor and non-motor segments, as well as the domestic economic recovery following removal of pandemic-related restrictions, partially offset by a weaker 2024 economic outlook. The Best’s Market Segment Report, “Market Segment Outlook: China Non-Life Insurance,” also notes the industry’s solvency position remains robust, albeit with higher capital requirements under C-ROSS Phase II. The recent relaxation of C-ROSS solvency-related investment rules is expected to boost the non-life segment’s solvency position slightly. China’s non-life market posted a net profit of CNY 44.5 billion in the first nine months of 2023, down by CNY 7.4 billion from the same prior-year period. The drop in net profit was attributed to underwriting pressures and catastrophic events; the industry’s investment returns remain the main contributor to overall earnings. At the same time, total direct premiums written (DPW) rose by 7.3%, to CNY 1.2 trillion (USD 166.4 billion) in the first nine months of 2023. The motor segment has shown strong growth momentum, with premiums expanding by 5.8% in August and by 5.6% in September, compared with the same periods last year. Another significant trend is the exponential growth in electric vehicle sales, which has led to rising demand for motor insurance. “While insurers are looking to tap into the opportunities offered by the electric vehicle segment, it should be noted that repair and servicing costs are higher than that of gas-powered vehicles due to expensive parts and a shortage of qualified repair and maintenance technicians,” said Lucie Huang, senior financial analyst, AM Best. “Moreover, the lack of claims history, combined with differences among electric vehicle manufacturers, poses a challenge to accurate pricing and risk assessments.” According to the report, non-motor lines of business will likely be the main drivers of future premium growth. Smaller insurers have been looking to capture growth opportunities in the health insurance segment to meet the demand in supplementary medical protection not covered in the current social medical scheme. Additionally, agriculture insurance, which holds a DPW share of 10% for the first three quarters of 2023, has become increasingly important to the non-life industry as a risk mitigation tool against natural catastrophe events and price fluctuations. AM Best expects that non-motor lines will fuel development of China’s non-life market over the medium term. To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=338068. 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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on businesswire.com: https://www.businesswire.com/news/home/20231128732253/en/ Contact Lucie Huang Senior Financial Analyst +852 827 3414 lucie.huang@ambest.com Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 christopher.sharkey@ambest.com James Chan Director, Analytics +852 827 3418 james.chan@ambest.com Cynthia Ang Senior Industry Research Analyst +65 6303 5026 cynthia.ang@ambest.com Christie Lee Senior Director, Analytics +852 827 3413 christie.lee@ambest.com Source : AM Best |
VENTI TECHNOLOGIES FOUNDER & CEO BAGS 2023 WOMEN IN TECH GLOBAL START-UP AWARD
KUALA LUMPUR, Nov 28 (Bernama) -- Venti Technologies, a leader in autonomous vehicle logistics for the global supply chain and industrial and logistics yards announced its Founder & Chief Executive Officer (CEO), Dr Heidi Wyle has won the 2023 Women in Tech Global Start-Up Award.
“I am honoured to receive the Women in Tech Global Start-Up Award on behalf of Venti Technologies. This year has been significant for Venti as we have grown our company with new funding and progressed into operational deployments.
“This recognition is a testament to our amazing team at Venti. As we look to the new year, I am excited about Venti’s continued journey of growth, collaboration, and innovation,” said Dr Wyle in a statement.
She added that all the women nominated for this award have made extraordinary strides, and she is thrilled to be among such incredible and inspiring leaders.
Dr Wyle has served on the Boards of MIT, the Harvard Business School Alumni Association of Boston, and the Massachusetts Women’s Forum where she served as president.
Since Venti’s founding, she has successfully led the company through two funding rounds totalling US$37 million, and in the past year, has grown Venti from 18 employees to 103 as of June this year. (US$1=RM4.67)
The Women in Tech is a global non-profit organisation on a mission to empower five million women and girls in tech by 2030.
The Women in Tech Global Start-Up Award recognises a female-founded startup that has demonstrated exceptional innovation, growth potential and a positive impact on the tech industry, and awards were announced recently in a gala at the United Arab Emirates.
-- BERNAMA
Saturday, 25 November 2023
AM BEST AFFIRMS CREDIT RATINGS AND ASSIGNS NATIONAL SCALE RATING TO PETROLIMEX INSURANCE CORPORATION
SINGAPORE, Nov 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 Petrolimex Insurance Corporation (PJICO) (Vietnam). Additionally, AM Best has assigned the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to PJICO. The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect PJICO’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.PJICO’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which is expected to remain at the strongest level prospectively, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s BCAR decreased in 2022, albeit still remained at the strongest level, mainly attributed to higher capital requirements due to robust business growth and higher investment exposure. At the same time, PJICO’s capital and surplus reported a slight decrease as a result of substantial dividend payments. AM Best expects that future dividend payouts will be moderated over the medium term. The company maintains a conservative investment strategy, with a majority of its investments held in cash and term deposits. The company has a moderate reliance on reinsurance to support its underwriting capacity for large property and engineering risks, as well as to manage accumulation risks and catastrophe exposure.However, the credit risk associated with this dependence is mitigated partly by the good credit quality of the reinsurance panel.
http://mrem.bernama.com/viewsm.php?idm=47603
Monday, 20 November 2023
AIT WORLDWIDE LOGISTICS TO EXPAND GLOBAL REACH VIA LUBBERS LOGISTICS GROUP ACQUISITION
KUALA LUMPUR, Nov 20 (Bernama) -- Global supply chain solutions provider, AIT Worldwide Logistics, has entered into a binding purchase agreement to acquire Lubbers Logistics Group, a European logistics company specialising in high-value, complex, and time-sensitive transport services.
The purchase will serve as a significant milestone for AIT as the company continues to expand its global reach and enhance its offerings in road transportation, freight forwarding, and project cargo logistics, particularly in the energy sector.
AIT Chairman and Chief Executive Officer (CEO), Vaughn Moore said this deal will enhance the company’s position in Europe and bolster its presence in the energy sector, allowing it to better serve current customers while creating new opportunities.
“Lubbers’ customer-centric approach to business, as well as their reputation for excellent quality aligns perfectly with AIT’s culture,” he said in a statement.
Meanwhile, Lubbers CEO, Gary Roche said: “Joining forces with AIT Worldwide Logistics is a strategic move that will allow us to continue providing exceptional service to our clients while expanding our reach on a global scale.
“AIT's strong track record and commitment to customer service align with our values, and we look forward to a bright future together”.
AIT's acquisition of Lubbers is expected to be finalised by the end of this year and will be subject to obtaining customary regulatory approvals, however the terms have not been disclosed.
Once the acquisition is finalised, Lubbers' network will add 18 new offices to AIT’s existing global network of more than 125 locations, while expanding AIT’s footprint to four new countries, namely, Denmark, Norway, Romania and Turkey.
Kirkland & Ellis LLP and NautaDutilh N.V. are both serving as legal counsel to AIT on the acquisition. Meanwhile Nielen Schuman B.V. and Loyens & Loeff N.V. are serving as financial advisor and as legal counsel to Lubbers, respectively.
-- BERNAMA
Saturday, 18 November 2023
Chartered Accountants Australia And New Zealand Revitalises Member Experience With Boomi
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| Chartered Accountants Australia and New Zealand Rearchitects Member Experience With Boomi (Graphic: Business Wire) |
KUALA LUMPUR, Nov 16 (Bernama) -- Boomi, the intelligent connectivity and automation leader, announced Chartered Accountants Australia and New Zealand (CA ANZ) is using its platform to revitalise member digital experiences, streamlining skills assessment and building personalisation into a new member portal.
According to a statement, recognising its members’ desire for quality digital experiences, CA ANZ sought to create an information technology (IT) environment capable of supporting its transition to a data-driven member experience hub.
Boomi Director of Australia and New Zealand, Nathan Gower said: “By bringing together its technology assets with structure and rigour, CA ANZ has created an environment that’s ready and willing to serve up tailored experiences to the digital member. They want CA ANZ to know them, and the IT team is layering data and APIs to deliver just that.”
Meanwhile, CA ANZ Chief Information Officer, Kylie Fisher said members want to see value and relevance from their membership, which means tailored services and support should be available in a matter of clicks.
“Boomi has allowed us to rebuild and establish a layered architecture where APIs are reusable to support faster development and more personalised engagement,” she said.
The company replaced point-to-point integrations with the Boomi platform, including Boomi application programming interfaces (APIs) and API Management capabilities.
CA ANZ connected 15 business-critical systems, such as its Salesforce customer relationship management, Sitecore content management system, NetSuite financial management, and Snowflake data lake, alongside several other event and learning systems, which now enable Fisher’s team to do faster code drops and fixes at previously untenable speed.
With a connected environment and use of Flow, Boomi’s workflow automation solution, CA ANZ rearchitected its member portal to optimise service pathways. The new portal improves the membership renewal process, enhances search experience, expands control over the preference centre, and delivers more tailored content.
CA ANZ is currently laying the foundations for its incoming eStore, in which Master Data Hub, Boomi’s golden record solution, will serve up quality product management data, forming a consolidated product management layer, enabling the company to offer personalised product and service content.
-- BERNAMA
Monday, 13 November 2023
YESWEHACK LAUNCHES CONTINUOUS THREAT EXPOSURE MANAGEMENT PRODUCT THAT UNIFIES OFFENSIVE SECURITY TESTING
SINGAPORE, Nov 10 (Bernama-BUSINESS WIRE) -- YesWeHack has unveiled a powerful Attack Surface Management (ASM) product that enables clients to orchestrate their offensive security and vulnerability remediation strategy through a risk-based approach.
The new product continuously maps an organisation’s internet-exposed assets, detects their possible exposure to known vulnerabilities, and automatically prioritises those vulnerabilities (based on severity, exploitability and asset criticality).Unlike standalone platforms, YesWeHack’s ASM integrates vulnerabilities from automated scanning (by the ASM) and YesWeHack’s Bug Bounty, Pentest Management and Vulnerability Disclosure Policy (VDP) products – creating a one-stop-shop for all vulnerabilities.
Amid tight security budgets, the ASM also automates and harmonises workflows to reduce costs, workloads and time-to-fix.
The five operational phases of Gartner’s Continuous Threat Exposure Management (CTEM) model are implemented: scope, discover, prioritise, validate, mobilise.
This enables a unified, comprehensive and risk-based approach to security testing and remediation of the most critical vulnerabilities at scale.
The turnkey-deployable ASM also introduces a design revamp to YesWeHack’s overall platform.
A rapid expansion of attack surfaces, increasingly complex tech stacks and rapid development cycles are fuelling an inexorable rise in vulnerabilities, often present in unknown assets. However, Gartner forecasts that CTEM programs could drive a two-thirds reduction in breaches.
Aïmad Berady, YesWeHack’s VP Product, comments: “With the time-to-exploit for new vulnerabilities plummeting, clearing the ‘fog of war’ surrounding the organisation’s information system and maintaining an up-to-date big picture is crucial. After all, knowing your enemy is useless if you don’t know your digital territory.”
Saturday, 11 November 2023
INGREDION INCORPORATED REPORTS STRONG THIRD QUARTER RESULTS AND RAISES FULL-YEAR OUTLOOK
· Third quarter 2023 reported and adjusted operating income* grew 17% and 15%, respectively, compared to PY
· Third quarter 2023 reported and adjusted EPS* were $2.36 and $2.33, an increase of 48% and 35%, respectively· The Company raises its full year adjusted EPS outlook to $9.05-$9.45, up from $8.80-$9.40
WESTCHESTER, Ill., Nov 8 (Bernama-GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported results for the third quarter of 2023. The results, reported in accordance with U.S. generally accepted accounting principles (“GAAP”) for the third quarter of 2023 and 2022, include items that are excluded from the non-GAAP financial measures that the Company presents.
“We continued to successfully manage our business in the third quarter with our approach to product pricing and customer mix, while also driving operational excellence and productivity to mitigate the impact of cost inflation. This enabled us to deliver 15% adjusted operating income growth for the quarter,” said Jim Zallie, Ingredion’s president and chief executive officer.
“Our business continues to demonstrate resilience, evidenced by the diversity of our markets and product portfolio, and the strength of our business model. For example, our Food Systems business in Europe demonstrated mid-single-digit volume growth from greater penetration into private label. While lower corn costs around the globe contributed to lower net sales growth, we were encouraged by sequential quarterly improvement in sales volumes despite inventory rebalancing by customers that continued to work its way through the supply chain.”
“Our updated full-year guidance reflects our confidence to deliver revenue and profit growth above our four-year growth outlook. We continue to execute against our Driving Growth Roadmap creating long-term value for shareholders, and are committed to total shareholder return as evidenced by the increase in the dividend rate and shares repurchased during the quarter,” Zallie concluded.
*Adjusted diluted earnings per share (“adjusted EPS”), adjusted operating income and adjusted effective income tax rate are non-GAAP financial measures. See section II of the Supplemental Financial Information entitled “Non-GAAP Information” following the Condensed Consolidated Financial Statements included in this news release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures.
Thursday, 9 November 2023
QUANTEXA OPENS SINGAPORE OFFICE TO BROADEN ASIA PACIFIC EXPANSION
KUALA LUMPUR, Nov 8 (Bernama) -- Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, has opened its new Asia Pacific Headquarters based in Tower 1 of Marina Bay Financial Centre in Singapore.
The opening is part of a broader regional expansion plan and follows the July 2023 launch of Quantexa’s Japan operations in Tokyo and long-standing presence in Melbourne, Sydney and Malaysia, while further expansion into Hong Kong is expected in 2024.
“With today’s announcement of our new regional headquarters in Singapore, we continue to accelerate our growth plans and get closer to our clients and partners as we serve the region,” said Quantexa Chief Executive Officer and Founder, Vishal Marria.
According to Quantexa in a statement, the organisation’s decision to set up its regional headquarters in Singapore was solidified by the country’s commitment to attracting investment, talent, and technology.
Establishing Quantexa’s new office locally complements the government’s Smart Nation initiative which outlines its plan to invest up to SGD500 million in artificial intelligence (AI) research and development. (SGD1=RM3.44)
Quantexa’s regional headquarters will provide sales, marketing, product management, and professional services capabilities to support customer implementations of its DI Platform in the banking, insurance and telecommunications industries, as well as the public sector.
The opening comes after Quantexa recently completed its Series E Funding Round led by GIC Singapore, valuing the company north of US$1.8 billion, and announcing a US$155 million investment to fuel global AI advancements. (US$1=RM4.66)
The Singapore headquarters joins a growing portfolio of Quantexa hubs including London, Dublin, Brussels, Malaga, the United Arab Emirates, New York, Boston, Toronto, Sydney, Melbourne and Tokyo.
-- BERNAMA
TRILLIANT TO ACT AS ENLIT ASIA'S DIAMOND SPONSOR FOCUSING ENERGY TRANSITION
KUALA LUMPUR, Nov 9 (Bernama) -- Trilliant, an international provider of solutions for advanced metering infrastructure (AMI), smart grid, smart cities and Industrial Internet of Things (IIoT), will participate as Diamond Sponsor at Enlit Asia for the fifth consecutive year.
The conference will take place from Nov 14 to 16 at the Indonesia Convention Exhibition in Jakarta, according to Trilliant in a statement.
Trilliant Chairman and Chief Executive Officer (CEO), Andrew C. White will take part in the CEO Dialogue to kick off Enlit Asia 2023/Indonesian Electricity Day Opening Ceremony on Nov 14, and will also make opening remarks at a panel titled Balancing Energy Transition and Security for a Sustainable Future.
“Trilliant’s next generation network technologies along with our device-independent platform are key components to this growth, and we are proud to continue to support customers at every stage of their energy transition journey, ensuring the best possible outcomes.
“We look forward to meeting with energy leaders at the conference and charting a path to success for utilities, smart cities, businesses and other regional stakeholders,” White said.
Concurrently, Trilliant will be presenting at a Knowledge Hub session titled Grid Modernization: Priorities & Strategies for Utilities - AMI Case Study.
Meanwhile, on Nov 15, Trilliant Customer Solutions Director, Vincent Thankachan will join Electricity Generating Authority of Thailand (EGAT) and other industry members on a panel titled Unlocking The Full Potential Of AMI.
Enlit Asia is an annual conference and exhibition for the power and energy sector, showcasing expert knowledge, innovative solutions and foresight from industry leaders, aligned with ASEAN's strategy to achieve a smooth transition towards a low-carbon energy future.
-- BERNAMA
Wednesday, 8 November 2023
PHARMA LEADER DR. HOLGER ZIMMERMANN JOINS LYSANDO'S ADVISORY BOARD IN PIONEERING FIGHT AGAINST ANTIBIOTIC-RESISTANT BACTERIA
Dr. Holger Zimmermann – Advisory Board Member Lysando AG
TRIESENBERG, Liechtenstein, Nov 8 (Bernama-BUSINESS WIRE) -- Lysando, a leading innovator in the fight against antibiotic-resistant bacteria, proudly announces the appointment of Dr. Holger Zimmermann to its Advisory Board. Dr. Zimmermann's distinguished career in the pharmaceutical sector and healthcare industry brings a wealth of experience, positioning him as a key asset in Lysando's mission to eliminate the fear of harmful bacteria worldwide.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231107814787/en/
Currently serving as the Chief Research and Development Officer at AiCuris AG, Dr. Zimmermann has been instrumental in bringing innovative healthcare products to market. His extensive background in human pharmaceutical pre-clinical and clinical research underscores the transformative potential he brings to Lysando.
Count Markus Matuschka de Greiffenclau, Chairman of the Board of Directors of Lysando, expresses his enthusiasm, stating, “We are delighted to welcome Dr. Holger Zimmermann to our Advisory Board. His profound experience in the pharmaceutical and healthcare sectors, coupled with a successful track record in product development, makes him a valuable addition to our team. Dr. Zimmermann's unique insights will play a pivotal role in guiding us toward our ultimate goal of bringing life-enhancing solutions to market.”
As a distinguished member of the Advisory Board, Dr. Zimmermann will contribute invaluable knowledge and strategic guidance, particularly in navigating the challenges of the pharmaceutical industry. Expressing his excitement to join Lysando, Dr. Holger Zimmermann states, “Lysando's Artilysin® technology represents a powerful tool to combat antibiotic-resistant germs. Considering the accelerating spread of Antimicrobial Resistance, I am excited to be able to support Lysando's mission to develop innovative products against disease-causing bacteria.”
Lysando has been a driving force in innovation against antibiotic-resistant bacteria, pioneering the revolutionary Artilysin® technology, that safeguards individuals from dangerous infections. The company's dedication to curbing the dissemination of Antimicrobial Resistance aligns seamlessly with Dr. Zimmermann's expertise and vision.
With numerous ongoing projects and a commitment to turning innovative ideas into high-performing products, Lysando continues to make significant strides in its mission to bring hope and health to people in need.
About Lysando AG
Lysando AG is the market leader for antimicrobial proteins, so‐called Artilysin® molecules. They can effectively eliminate problem‐causing bacteria without associated high risk of resistance formation and microbial disbalances. Artilysin® constitutes an innovative, proprietary, and environmentally friendly technology with a wide range of applications.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20231107814787/en/
Contact
Isabella Kattler
+41(0)7932 14884
Isabella.Kattler@lysando.com
Source : Lysando
Count Markus Matuschka de Greiffenclau, Chairman of the Board of Directors of Lysando, expresses his enthusiasm, stating, “We are delighted to welcome Dr. Holger Zimmermann to our Advisory Board. His profound experience in the pharmaceutical and healthcare sectors, coupled with a successful track record in product development, makes him a valuable addition to our team. Dr. Zimmermann's unique insights will play a pivotal role in guiding us toward our ultimate goal of bringing life-enhancing solutions to market.”
As a distinguished member of the Advisory Board, Dr. Zimmermann will contribute invaluable knowledge and strategic guidance, particularly in navigating the challenges of the pharmaceutical industry. Expressing his excitement to join Lysando, Dr. Holger Zimmermann states, “Lysando's Artilysin® technology represents a powerful tool to combat antibiotic-resistant germs. Considering the accelerating spread of Antimicrobial Resistance, I am excited to be able to support Lysando's mission to develop innovative products against disease-causing bacteria.”
Lysando has been a driving force in innovation against antibiotic-resistant bacteria, pioneering the revolutionary Artilysin® technology, that safeguards individuals from dangerous infections. The company's dedication to curbing the dissemination of Antimicrobial Resistance aligns seamlessly with Dr. Zimmermann's expertise and vision.
With numerous ongoing projects and a commitment to turning innovative ideas into high-performing products, Lysando continues to make significant strides in its mission to bring hope and health to people in need.
About Lysando AG
Lysando AG is the market leader for antimicrobial proteins, so‐called Artilysin® molecules. They can effectively eliminate problem‐causing bacteria without associated high risk of resistance formation and microbial disbalances. Artilysin® constitutes an innovative, proprietary, and environmentally friendly technology with a wide range of applications.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20231107814787/en/
Contact
Isabella Kattler
+41(0)7932 14884
Isabella.Kattler@lysando.com
Source : Lysando
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