KUALA LUMPUR, April 24 (Bernama) -- Hitachi Energy announced investments of over US$1.5 billion to ramp up its global transformer manufacturing capacity to keep pace with the growing demand and support the long-term plans and electrification efforts. (US$1=RM4.77)
The investments will gradually expand the company’s global transformer capacity by 2027 and are in addition to the US$3 billion already announced to progress on the electrification of the energy system driven by the energy transition.
“The demand for transformers and electrical equipment has grown at an unprecedented scale, and we are investing to address our customers' mid- and long-term needs.
“We are developing our global footprint and capacity and progressing in digitalisation and technology to deliver even more sustainable and reliable solutions,” said Hitachi Energy Managing Director of the Transformers Business, Bruno Melles in a statement.
Concurrently, the company is also announcing an investment of around US$180 million in a new state-of-the-art transformer factory in the Vaasa region, Finland, whereby this top-notch 30,000-square-metre campus will be a testament to Hitachi Energy's dedication to innovation, quality, and environmental stewardship.
The investments complement Hitachi Energy's broader growth efforts, which include the recently announced larger than US$30 million expansion in Bad Honnef, Germany.
Leveraging the company’s global footprint, additional investments will follow in Europe, the Americas, and Asia to meet the growing demand for power and distribution transformers.
Hitachi Energy is the world's largest transformer manufacturer in terms of installed base, portfolio range, manufacturing capacity, and market coverage, with over 60 transformer factories and service centres worldwide.
All the announced transformer investments include sustainable and innovative manufacturing technologies for operational efficiency while ensuring high standards for safety and quality.
-- BERNAMA
Wednesday, 24 April 2024
HITACHI ENERGY INVESTS US$1.5 BLN TO BOOST GLOBAL TRANSFORMER PRODUCTION BY 2027
Tuesday, 23 April 2024
METAHOMES GRANTS CUSTOMERS FREE PROPERTY LISTINGS
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KUALA LUMPUR, April 22 (Bernama) -- MetaHomes, an online global real estate platform, announced it will not impose fees or contractual obligations on its customers, granting them the freedom to post properties on its platform for free, underscoring its commitment to democratise access to the real estate market, levelling the playing field for individuals and businesses alike.
This groundbreaking limited time initiative eliminates upfront costs, providing property owners with an equal opportunity to showcase their properties to a vast and diverse audience.
The platform opens its doors to property owners of all backgrounds, offering a chance to display a wide range of accommodations, including homestays, hotels, vacation homes, and apartment rentals, without incurring any listing expenses or contractual bindings.
Responding to that, its Chief Executive Officer, Jerry Wu in a statement, expressed optimism about the company's role in shaping the future of real estate in the United Arab Emirates (UAE) and beyond.
In the last couple of decades, the UAE has emerged as a beacon of innovation, prosperity, and opportunity, drawing millions of people globally.
Renowned for its world-class attractions, vibrant lifestyle, robust economic benefits, and progressive governmental initiatives, the country stands as a shining example of modernity and growth in the Middle East and beyond.
One of the key indicators of the UAE's thriving tourism sector is the staggering number of visitors it welcomes each year. The nation played host to over 3.67 million visitors from Jan to Feb alone, according to the Dubai Government Tourism Department, a testament to its enduring appeal as a global travel hub.
Focusing on innovation, collaboration, and customer satisfaction, MetaHomes endeavours to create a seamless and rewarding real estate experience for all stakeholders.
With a vision that transcends borders and boundaries, it aspires to be the catalyst for positive change in the real estate industry, ushering in a new era of technological accessibility, and opportunity for all.
Against this backdrop of prosperity and promise, MetaHomes leverages cutting-edge technology, including artificial intelligence (AI), virtual reality (VR), and Internet of Things (IoT) solutions, to redefine industry standards and offer a seamless real estate experience.
-- BERNAMA
Saturday, 20 April 2024
DALI ALLIANCE LAUNCH TEST AND CERTIFICATION SPECIFICATIONS FOR DALI+
LONDON, April 17 (Bernama-GLOBE NEWSWIRE) -- The DALI Alliance, recognized as the international authority in lighting technology standardization, has unveiled much-anticipated certification details for its wireless specification: DALI+ over Thread.
As lighting specifications increasingly seek smarter, sustainable, and interoperable solutions, DALI+ emerges as a crucial enabler of standardized wireless or IP-based lighting systems. The alliance's collaboration with partners such as Thread Group has resulted in the integration of enhanced security and encryption solutions, ensuring the integrity and confidentiality of data transmission within DALI+ networks.Key features of DALI+ with Thread include:
· Wireless Mesh Network: Thread creates an Internet Protocol version 6 (IPv6) based wireless mesh network. Off-the-shelf Thread border routers can also be used to connect multiple Thread networks through IP technologies, such as Ethernet or Wi-Fi, allowing a highly scalable lighting control system.
· Extended Addressing: In addition to the standard 64 control gear and 64 control device addresses, DALI+ with Thread IPv6 routing allows almost unlimited addressing capability. The usual DALI broadcast, group and short-addressing methods are included together with IP unicast and multicast capability.
· Interoperability: DALI+ certification includes all the benefits of the existing DALI-2 and D4i certification programs with extensive testing, independent verification, and listing of every certified product in a publicly searchable product database to ensure a high level of product interoperability. Furthermore, DALI+ bridge devices will allow DALI-2 wired devices or systems to connect with and operate with the products in a DALI+ wireless system.
· Device Support: DALI+ supports a wide array of control devices, including occupancy sensors, light sensors, switches, sliders, rotaries, and pushbuttons. Control gear support currently includes LED drivers with the three optional data parts: luminaire data, power and energy, and diagnostics data.
Wednesday, 17 April 2024
LANTRONIX ANNOUNCES NEW FOX4 AND BOLERO 43 EDGE COMPUTE TRACKERS, EXPANDING ITS AWARD-WINNING TELEMATIC GATEWAYS FAMILY
New Lantronix solutions target the high-growth telematics market estimated to reach $3.7 Billion by 2027
IRVINE, Calif., April 17 (Bernama-GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of compute and connectivity IoT solutions, today launched its new FOX4 and Bolero 43 edge compute tracker telematic gateways. Designed for assets and fleet management, both products come pre-configured with Lantronix’s Percepxion™ IoT edge software platform, which provides secure, comprehensive IoT device provisioning and management. The two new products were showcased in the Lantronix booths at Embedded World 2024 (Hall 3, booth 356) held April 9–11, 2024, in Nuremberg, Germany, and ISC West 2024 (booth 7117) held April 10–12, 2024, in Las Vegas.
Ursula Hess, CEO of Quantum Aviation, a customer of Lantronix telematic products, said, “Utilizing Lantronix’s FOX Series Telematic Gateways, we are able to feed reliable, real-time data to our cloud-based software solution, which gives our aviation customers access to critical information for real-time visibility and actions as well as long-term analytics.”
According to Berg Insight, the global shipments of aftermarket telematic devices will grow at a CAGR of 10.5 percent in the next five years to reach 77.6 million units in 2027 for a total market value estimated to reach $3.7 billion by 2027. Lantronix’s innovative hardware and software effectively target this market, supporting these growth trends.
"Our new telematic devices provide a complete package that merges connectivity and cloud device management with award-winning hardware,” said Jacques Issa, VP of Marketing for Lantronix. “Lantronix is committed to innovation by introducing integrated hardware and software products where ease of use in customizing, on-boarding and provisioning remotely is paramount.”
The FOX4 Edge Compute Tracker
The latest upgrade in Lantronix’s FOX series, the FOX4 Edge Compute Tracker offers seamless integration of cellular and GNSS technologies, now enriched with BLE and Wi-Fi® connectivity, alongside advanced security features. FOX4 is engineered for versatility, and its design is optimal for a wide range of applications, from industrial complexes to urban landscapes. FOX 4 also offers the capability to support both internal and external antennas.
With robust support for PFAL scripting, LUA, MQTT, Azure and REST API, the FOX4 Series Trackers ensure that the user’s product can seamlessly communicate with virtually any telematics platform, reducing development time and accelerating the path to market.
The Bolero 43 Edge Compute Tracker
The Bolero 43 Edge Compute Tracker excels in asset and fleet management and Industrial IoT applications, such as manufacturing and automation. A derivative of the FOX4 series, the Bolero 43 integrates into the same ecosystem and uses the same programming languages. Designed for harsh environments, the Bolero 43 features an IP68 rating and a rugged design for durability. It is now globally available.
Both the FOX4 and Bolero 43 Edge Compute Trackers feature customization capabilities that are facilitated by the intuitive Workbench tool, enabling easy customizations from performance optimization to unique functionality integration.
Uninterrupted Uptime With Lantronix Connectivity Services SIM Card
FOX4 and Bolero 43 Series Telematic Gateways come preinstalled with Lantronix’s Connectivity Services SIM card that empowers users with a wide range of carrier options, allowing them to select the most suitable network provider, including industry leaders such as Verizon, AT&T and T-Mobile in North America as well as multiple carriers in the Europe and Asia Pacific regions.
Percepxion Service for Lantronix IoT Device Lifecycle Management
Delivered as a service, the Percepxion IoT edge software platform provides comprehensive device management through an intuitive single-pane-of-glass dashboard. Percepxion efficiently scales IoT edge deployments, including telematic gateways, from regional to global installations. This service will position Lantronix to target Annual Recurring Revenue (ARR) growth in the coming year.
Learn more about Percepxion and review its 60-day free trial offer here.
About Lantronix
Lantronix Inc. is a global provider of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to achieve success in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.
For more information, visit the Lantronix website.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements related to our solutions, technologies and products, as well as the FOX4, Bolero 43 and Percepxion, and expectations regarding our management and our future growth and profitability. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended Dec. 31, 2023, filed with the SEC on Feb. 8, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
© 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.
Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-212-0960
Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241
SOURCE : Lantronix, Inc.
IRVINE, Calif., April 17 (Bernama-GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of compute and connectivity IoT solutions, today launched its new FOX4 and Bolero 43 edge compute tracker telematic gateways. Designed for assets and fleet management, both products come pre-configured with Lantronix’s Percepxion™ IoT edge software platform, which provides secure, comprehensive IoT device provisioning and management. The two new products were showcased in the Lantronix booths at Embedded World 2024 (Hall 3, booth 356) held April 9–11, 2024, in Nuremberg, Germany, and ISC West 2024 (booth 7117) held April 10–12, 2024, in Las Vegas.
Ursula Hess, CEO of Quantum Aviation, a customer of Lantronix telematic products, said, “Utilizing Lantronix’s FOX Series Telematic Gateways, we are able to feed reliable, real-time data to our cloud-based software solution, which gives our aviation customers access to critical information for real-time visibility and actions as well as long-term analytics.”
According to Berg Insight, the global shipments of aftermarket telematic devices will grow at a CAGR of 10.5 percent in the next five years to reach 77.6 million units in 2027 for a total market value estimated to reach $3.7 billion by 2027. Lantronix’s innovative hardware and software effectively target this market, supporting these growth trends.
"Our new telematic devices provide a complete package that merges connectivity and cloud device management with award-winning hardware,” said Jacques Issa, VP of Marketing for Lantronix. “Lantronix is committed to innovation by introducing integrated hardware and software products where ease of use in customizing, on-boarding and provisioning remotely is paramount.”
The FOX4 Edge Compute Tracker
The latest upgrade in Lantronix’s FOX series, the FOX4 Edge Compute Tracker offers seamless integration of cellular and GNSS technologies, now enriched with BLE and Wi-Fi® connectivity, alongside advanced security features. FOX4 is engineered for versatility, and its design is optimal for a wide range of applications, from industrial complexes to urban landscapes. FOX 4 also offers the capability to support both internal and external antennas.
With robust support for PFAL scripting, LUA, MQTT, Azure and REST API, the FOX4 Series Trackers ensure that the user’s product can seamlessly communicate with virtually any telematics platform, reducing development time and accelerating the path to market.
The Bolero 43 Edge Compute Tracker
The Bolero 43 Edge Compute Tracker excels in asset and fleet management and Industrial IoT applications, such as manufacturing and automation. A derivative of the FOX4 series, the Bolero 43 integrates into the same ecosystem and uses the same programming languages. Designed for harsh environments, the Bolero 43 features an IP68 rating and a rugged design for durability. It is now globally available.
Both the FOX4 and Bolero 43 Edge Compute Trackers feature customization capabilities that are facilitated by the intuitive Workbench tool, enabling easy customizations from performance optimization to unique functionality integration.
Uninterrupted Uptime With Lantronix Connectivity Services SIM Card
FOX4 and Bolero 43 Series Telematic Gateways come preinstalled with Lantronix’s Connectivity Services SIM card that empowers users with a wide range of carrier options, allowing them to select the most suitable network provider, including industry leaders such as Verizon, AT&T and T-Mobile in North America as well as multiple carriers in the Europe and Asia Pacific regions.
Percepxion Service for Lantronix IoT Device Lifecycle Management
Delivered as a service, the Percepxion IoT edge software platform provides comprehensive device management through an intuitive single-pane-of-glass dashboard. Percepxion efficiently scales IoT edge deployments, including telematic gateways, from regional to global installations. This service will position Lantronix to target Annual Recurring Revenue (ARR) growth in the coming year.
Learn more about Percepxion and review its 60-day free trial offer here.
About Lantronix
Lantronix Inc. is a global provider of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to achieve success in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.
For more information, visit the Lantronix website.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements related to our solutions, technologies and products, as well as the FOX4, Bolero 43 and Percepxion, and expectations regarding our management and our future growth and profitability. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended Dec. 31, 2023, filed with the SEC on Feb. 8, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
© 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.
Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-212-0960
Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241
SOURCE : Lantronix, Inc.
GLP SELECTS ZSCALER TO ACCELERATE ITS CLOUD SECURITY TRANSFORMATION JOURNEY
Leading Real Estate Logistics Provider and Investment Manager Replaces Legacy Firewalls and VPNs for an AI-powered Zero Trust Architecture to Secure its Growing Global Operations
SAN JOSE, Calif., April 16 (Bernama-GLOBE NEWSWIRE) -- Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, announced that GLP, a global real estate logistics provider and investment manager, is leveraging Zscaler for Users, part of the AI-powered Zscaler Zero Trust Exchange™ cloud security platform, to further strengthen its cybersecurity practice across its portfolio. GLP determined the security limitations and risk associated with their legacy security stack built on VPNs was not able to protect their users, data and applications from the increase in sophisticated cyber attacks.Founded in 2009, GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies. At present, GLP has highly distributed operations in over 20 countries, including China, Brazil, India, Japan, and the U.S., with more than 70 offices worldwide. GLP has over 4,000 physical and digital properties globally.
Given the sheer volume of assets to secure, GLP was in need of a robust cybersecurity strategy to tackle the mounting challenges posed by the increase in cyber threats. Convinced of the value of a Zero Trust architecture, GLP needed a technology partner that could help protect its entire portfolio from intellectual property to private client data across its digital assets globally.
Excellent Service Delivers Top Grand Stevie Award Trophy For DP DHL
KUALA LUMPUR, April 16 (Bernama) -- Winners in the 18th annual Stevie Awards for Sales & Customer Service were revealed recently at a gala ceremony in Las Vegas, Nevada, United States (US), attended by over 400 executives globally.
According to a statement, DP DHL Worldwide, with 13 Gold, 18 Silver, and 14 Bronze Stevie Award wins, was the most honoured organisation this year, earning the top Grand Stevie Award trophy.
The 10 most-honoured organisations in the 2024 Stevie Awards for Sales & Customer Service received Grand (“best in show”) Stevie Award trophies, in which winners were determined by a points system based on the total number of awards won, and having the highest average score in selected categories.
Other Grand Stevie Award winners, include Allianz Services Pvt Ltd; Sales Partnerships Inc; UPMC Health Plan; as well as Toco Warranty and Purpol Marketing Limited, which were tied at ninth-place.
Among notable winners with three Gold Stevie Awards were Alight Solutions, Optum and WNS (Holdings) Limited, while organisations winning a combination of five or more Gold, Silver, or Bronze Stevie Awards include TransPerfect Translations, VMWare (Broadcom), Intuit and Avetta.
Over 2,300 nominations from organisations of all sizes and in virtually every industry were evaluated in this year’s competition with winners determined by the average scores of more than 200 professionals worldwide in seven specialised judging committees.
Winners in one special category, the Sales Partnerships Ethics in Sales Award and 2024 People's Choice Stevie Awards for Favorite Customer Service, were also honoured at the April 12 awards gala.
Nominations for the 2025 edition of the Stevie Awards for Sales & Customer Service will be accepted starting this July.
-- BERNAMA
BEST'S COMMENTARY: TAIWAN EARTHQUAKE CLAIMS UNLIKELY TO EXCEED LEVELS FROM SIMILAR 2016 EVENT
HONG KONG, April 15 (Bernama-BUSINESS WIRE) -- Earthquake-related claims for Taiwan’s commercial insurers related to this month’s seismic event are unlikely to exceed those stemming from the 2016 Meinong earthquake, given the more recent event’s greater distance from the economic centers and science parks, according to AM Best.
The Best’s Commentary, “Taiwan Earthquake Claims Unlikely to Exceed 2016 Levels,” notes that the Magnitude 7.2 earthquake on 3 April is not expected to add significant net claims and lead to a capital event for Taiwan’s non-life insurance industry.
In Taiwan, residential earthquake losses are ceded to the Taiwan Residential Earthquake Insurance Fund (TREIF), so commercial insurers mainly bear commercial and industrial losses, according to the report. Most prior major earthquakes in Taiwan resulted in claims to commercial insurers for industrial losses. More generally, significant losses for the latest event could arise from business interruption coverage. This is due to the material role the technology and science sectors play in Taiwan’s overall economy, combined with large insureds purchasing adequate insurance protection, with the vast majority of these exposures ultimately being ceded to the international reinsurance market.
“The non-life segment’s capitalization was weakened from a large operating loss in 2022 due to pandemic insurance,” said Christie Lee, senior director, analytics, AM Best. “The industry’s capitalisation rebounded in 2023 after capital injections from insurers’ parent companies, coupled with favourable operating results, but remain below 2021 industry capital levels by 21%.”
Standalone credit quality and the ability to withstand major catastrophe losses vary by company, but some insurers’ overall credit fundamentals are supported by strong parental financial support as per regulations.
To access the full copy of this commentary, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=341911.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
In Taiwan, residential earthquake losses are ceded to the Taiwan Residential Earthquake Insurance Fund (TREIF), so commercial insurers mainly bear commercial and industrial losses, according to the report. Most prior major earthquakes in Taiwan resulted in claims to commercial insurers for industrial losses. More generally, significant losses for the latest event could arise from business interruption coverage. This is due to the material role the technology and science sectors play in Taiwan’s overall economy, combined with large insureds purchasing adequate insurance protection, with the vast majority of these exposures ultimately being ceded to the international reinsurance market.
“The non-life segment’s capitalization was weakened from a large operating loss in 2022 due to pandemic insurance,” said Christie Lee, senior director, analytics, AM Best. “The industry’s capitalisation rebounded in 2023 after capital injections from insurers’ parent companies, coupled with favourable operating results, but remain below 2021 industry capital levels by 21%.”
Standalone credit quality and the ability to withstand major catastrophe losses vary by company, but some insurers’ overall credit fundamentals are supported by strong parental financial support as per regulations.
To access the full copy of this commentary, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=341911.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240410269839/en/
Contact
Christie Lee
Senior Director, Analytics
+852 2827 3413
christie.lee@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Cynthia Ang
Senior Industry Research Analyst
+65 6303 5026
cynthia.ang@ambest.com
Source : AM Best
--BERNAMA
Tuesday, 16 April 2024
NX Group Now Offers NX-GREEN SAF Program In Japan
KUALA LUMPUR, April 15 (Bernama) -- Nippon Express Holdings Inc has started offering the NX-GREEN SAF Program in Japan, enabling its valued customers to purchase the environmental attributes derived from sustainable aviation fuel (SAF) to reduce carbon dioxide (CO2) emissions in customers' supply chains.
The programme which began service at NX Europe in July last year was a carbon-insetting programme that can be used to reduce CO2 emissions from all air transport services provided by the NX Group.
According to a statement, air transport utilising SAF can reduce CO2 emissions by about 80 per cent compared to conventional fossil fuels.
The programme is available for transport services arranged by the NX Group, which is the first Japanese forwarder to offer such a service without restrictions on the choice of airlines.
Customers participating in the programme will be issued with a CO2 reduction verification statement verified by SGS, one of the world's largest certification bodies, that can be used in information disclosure required by the Task Force on Climate-related Financial Disclosures (TCFD) and CDP (formerly Carbon Disclosure Project).
To address climate change, the NX Group has set the goals of reducing its own CO2 emissions (Scope 1 and 2) by 50 per cent from 2013 levels by 2030, and of helping realise carbon-neutral societies by 2050 (Scope 1, 2 and 3).
The NX Group will continue practicing sustainability management from a long-term perspective and contributing to better lives for people and the development of sustainable societies by addressing climate change through its business.
-- BERNAMA
BANLE ENERGY INTERNATIONAL LIMITED SUPPORTS YANG MING'S INAUGURAL B24 BIOFUEL BUNKERING SERVICES IN YANTIAN, SHENZHEN
HONG KONG, April 16 (Bernama-GLOBE NEWSWIRE) -- On April 14, 2024, Banle Energy International Limited, a subsidiary of the Banle Group (NASDAQ: BANL), a reputable marine fuel logistic company in the Asia Pacific region, in collaboration with PetroChina Fuel Oil Co. Ltd., is delighted to announce the arrangement of B24 biofuel bunkering services for Yang Ming’s vessel, YM Utility, at a port in Yantian, Shenzhen.
By providing Yang Ming with our B24 biofuel bunkering services, this transaction supports the first B24 biofuel supply in Shenzhen and Yang Ming’s inaugural B24 biofuel bunkering supply in China. As a company actively promoting the use of biofuels, we are making a significant contribution to the International Maritime Organization's (IMO) goal of reducing greenhouse gas emissions (GHG) from international shipping. The B24 biofuel blend, as indicated by a study, is projected to reduce approximately 20% of Greenhouse Gas (GHG) emissions when compared with conventional fuel oil.
Teck Lim Chia, our Chairman and Chief Executive Officer, expressed his determination to bring positive impacts to the shipping industry, stating: “We are pleased to be part of Yang Ming’s first B24 biofuel bunkering supply in China. This service aligns with our initial initiative of introducing B24 biofuel bunkering in Hong Kong and exporting B24 biofuel to China. As a stakeholder in the shipping industry, we remain committed to promoting biofuel to reduce GHG emissions.”
Banle Group is dedicated to delivering exceptional bunkering services that cater to the evolving needs of the maritime industry. As we focus on expanding our operations in Europe, we continue to forge strategic partnerships and explore new opportunities to provide efficient and reliable solutions.
About the Banle Group
Established in 2015, CBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company in the Asia Pacific region. We are committed to providing customers with one stop solution for vessel refuelling. Banle Group’s business activities are primarily focused in over 55 major ports covering Japan, Korea, China, Hong Kong, Taiwan, Vietnam, Malaysia, Singapore, Thailand, Turkey and Belgium. The Group actively promotes the use of alternative fuels and is awarded with the ISCC EU and ISCC Plus certifications.
Forward-Looking Information and Statements
Certain statements in this announcement are forward-looking statements, by their nature, subject to significant risks and uncertainties. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
CBL INTERNATIONAL LIMITED
(Incorporated in Cayman Islands with limited liabilities)
For more information, please contact:
CBL International Limited
Email: investors@banle-intl.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/49031b66-7864-4483-b636-5b5c0999d634
SOURCE : CBL International Limited
By providing Yang Ming with our B24 biofuel bunkering services, this transaction supports the first B24 biofuel supply in Shenzhen and Yang Ming’s inaugural B24 biofuel bunkering supply in China. As a company actively promoting the use of biofuels, we are making a significant contribution to the International Maritime Organization's (IMO) goal of reducing greenhouse gas emissions (GHG) from international shipping. The B24 biofuel blend, as indicated by a study, is projected to reduce approximately 20% of Greenhouse Gas (GHG) emissions when compared with conventional fuel oil.
Teck Lim Chia, our Chairman and Chief Executive Officer, expressed his determination to bring positive impacts to the shipping industry, stating: “We are pleased to be part of Yang Ming’s first B24 biofuel bunkering supply in China. This service aligns with our initial initiative of introducing B24 biofuel bunkering in Hong Kong and exporting B24 biofuel to China. As a stakeholder in the shipping industry, we remain committed to promoting biofuel to reduce GHG emissions.”
Banle Group is dedicated to delivering exceptional bunkering services that cater to the evolving needs of the maritime industry. As we focus on expanding our operations in Europe, we continue to forge strategic partnerships and explore new opportunities to provide efficient and reliable solutions.
About the Banle Group
Established in 2015, CBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company in the Asia Pacific region. We are committed to providing customers with one stop solution for vessel refuelling. Banle Group’s business activities are primarily focused in over 55 major ports covering Japan, Korea, China, Hong Kong, Taiwan, Vietnam, Malaysia, Singapore, Thailand, Turkey and Belgium. The Group actively promotes the use of alternative fuels and is awarded with the ISCC EU and ISCC Plus certifications.
Forward-Looking Information and Statements
Certain statements in this announcement are forward-looking statements, by their nature, subject to significant risks and uncertainties. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
CBL INTERNATIONAL LIMITED
(Incorporated in Cayman Islands with limited liabilities)
For more information, please contact:
CBL International Limited
Email: investors@banle-intl.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/49031b66-7864-4483-b636-5b5c0999d634
SOURCE : CBL International Limited
Monday, 15 April 2024
RESEARCH: MORE THAN HALF OF SINGAPORE'S ORGANISATIONS EXPERIENCED 1-2 HOURS OF WEEKLY DOWNTIME DUE TO FIXED LINE/ FIBRE NETWORK FAILURE OVER THE LAST 12 MONTHS
Eighty-two percent of Singapore’s organisation have had to remove/ block applications like Zoom, WhatsApp and others considered vulnerability risks from work devices for security reasons
MELBOURNE, Australia, April 15 (Bernama-GLOBE NEWSWIRE) -- Cradlepoint, part of Ericsson, the global leader in cloud-delivered LTE and 5G wireless network and security solutions, today announced findings from its 2024 State of Connectivity survey. Findings reveal that despite 62% of Singaporean organisations using cellular connectivity, fixed line/ fibre network failure has caused 57% of organisations to experience 1-2 hours of downtime per week. Alarmingly, 25% experienced 3-4 hours of downtime per week, due to fixed line/ fibre network failure over the last 12 months. These figures suggest that cellular connectivity is only being used in some organisational areas.
Fifty percent of organisations are also already using network edge solutions to enable in-vehicle connectivity, with another 47% looking to extend their network edge solution to include in-vehicle connectivity in the next 12-24 months.
The survey also found that more than two-thirds of Singapore’s organisations experienced a network security attack in the last 12 months. Of those that were the target of a network security attack, nearly one-quarter suffered a major security breach which resulted in loss of data and over 14% resulted in significant company fines. As a result, 82% of organisations surveyed in Singapore have removed or blocked applications like Zoom, WhatsApp, and others considered vulnerability risks from work devices.
Conducted by Censuswide, the survey revealed that sustainability plays a significant role in Singapore’s business and public sectors, with 60% of organisations agreeing that it plays a key role in their organisations short-term and long-term goals. In fact, the same portion of organisations agreed that increasing sustainability efforts could help improve business revenue. Fifty-nine percent of organisations agreed that they need smarter facilities – incorporating IoT and connected devices – to operate more efficiently and sustainably. With that, nearly one-quarter of organisations surveyed are planning to invest in cellular networks, more than 36% in Artificial Intelligence (AI)/ Machine Learning (ML), and more than one-quarter in equipment sensors, to reduce waste and make facilities more efficient in the next 12 months.
“Singapore is at the forefront when it comes to solving problems with innovative technology, and this is evident in the country’s widespread use of technologies like IoT, AI, and ML. Singapore has long been using connected robotics and other sensor dependent technologies to support the country’s goals, whether it was social distancing during the pandemic or now, waste reduction to meet Singapore’s national Green Plan,” said Nathan McGregor, Senior Vice President Asia Pacific, Cradlepoint.
Despite a positive approach to new technologies and over 94% of organisations surveyed considering 5G wireless connectivity to drive innovation and digital transformation, some organisations still have questions about investing in 5G. More than 35% of organisations reported a shortage of skills required to deploy and maintain a fixed and wireless network as a deterrent to 5G investment, while one-third of organisations reported concerns over the ability to secure connectivity across the enterprise, perception of costs, and a lack of clear ROI as barriers to 5G investment.
“Organisations that measure cost to business not just on initial investment but also on uptime, response time, customer satisfaction, reach and diverse solution offerings will quickly realise how 5G business value impacts their bottom line,” McGregor said.
Survey methodology
‘The State of Connectivity in Singapore’ is based on the findings of Censuswide research of over 500 respondents across Singapore. Respondents were business owners, C-level executives or senior managers at businesses with over 250 employees; all were technology decision-makers.
Vertical sectors polled in this report included: Building, Arts & Culture, Education, Finance, Healthcare, HR, IT & Telecoms, Legal, Manufacturing & Utilities, Retail, Catering & Leisure, Travel and Transport, Government, First Responders, Public Transportation, Automotive, Building Management, Supply Chain & Logistics, Maritime, and Agriculture.
The full Cradlepoint 2024 Connectivity Report Singapore can be found here.
About Cradlepoint
Cradlepoint enables the freedom to connect people, places, and things that drive more experiences, more ways to work, and better business results — anywhere. The company is a pioneer in Wireless WAN, offering advanced 4G and 5G routers and adapters — controlled through Cradlepoint NetCloud™. Enterprise businesses and public sector agencies rely on Cradlepoint and its Cellular Intelligence to build a reliable, secure network wherever they need it, connecting fixed and temporary sites, vehicles, IoT devices, and remote employees. Headquartered in Boise, Idaho, Cradlepoint is a wholly owned subsidiary of Ericsson (NASDAQ: ERIC) and part of their Business Area Enterprise Wireless Solutions. It has international offices in Asia Pacific, Canada, Europe, India, and Latin America. www.cradlepoint.com.
Contact
Biana Chamlet
Cradlepoint APAC PR
Biana.chamlet@cradlepoint.com
SOURCE : Cradlepoint
MELBOURNE, Australia, April 15 (Bernama-GLOBE NEWSWIRE) -- Cradlepoint, part of Ericsson, the global leader in cloud-delivered LTE and 5G wireless network and security solutions, today announced findings from its 2024 State of Connectivity survey. Findings reveal that despite 62% of Singaporean organisations using cellular connectivity, fixed line/ fibre network failure has caused 57% of organisations to experience 1-2 hours of downtime per week. Alarmingly, 25% experienced 3-4 hours of downtime per week, due to fixed line/ fibre network failure over the last 12 months. These figures suggest that cellular connectivity is only being used in some organisational areas.
Fifty percent of organisations are also already using network edge solutions to enable in-vehicle connectivity, with another 47% looking to extend their network edge solution to include in-vehicle connectivity in the next 12-24 months.
The survey also found that more than two-thirds of Singapore’s organisations experienced a network security attack in the last 12 months. Of those that were the target of a network security attack, nearly one-quarter suffered a major security breach which resulted in loss of data and over 14% resulted in significant company fines. As a result, 82% of organisations surveyed in Singapore have removed or blocked applications like Zoom, WhatsApp, and others considered vulnerability risks from work devices.
Conducted by Censuswide, the survey revealed that sustainability plays a significant role in Singapore’s business and public sectors, with 60% of organisations agreeing that it plays a key role in their organisations short-term and long-term goals. In fact, the same portion of organisations agreed that increasing sustainability efforts could help improve business revenue. Fifty-nine percent of organisations agreed that they need smarter facilities – incorporating IoT and connected devices – to operate more efficiently and sustainably. With that, nearly one-quarter of organisations surveyed are planning to invest in cellular networks, more than 36% in Artificial Intelligence (AI)/ Machine Learning (ML), and more than one-quarter in equipment sensors, to reduce waste and make facilities more efficient in the next 12 months.
“Singapore is at the forefront when it comes to solving problems with innovative technology, and this is evident in the country’s widespread use of technologies like IoT, AI, and ML. Singapore has long been using connected robotics and other sensor dependent technologies to support the country’s goals, whether it was social distancing during the pandemic or now, waste reduction to meet Singapore’s national Green Plan,” said Nathan McGregor, Senior Vice President Asia Pacific, Cradlepoint.
Despite a positive approach to new technologies and over 94% of organisations surveyed considering 5G wireless connectivity to drive innovation and digital transformation, some organisations still have questions about investing in 5G. More than 35% of organisations reported a shortage of skills required to deploy and maintain a fixed and wireless network as a deterrent to 5G investment, while one-third of organisations reported concerns over the ability to secure connectivity across the enterprise, perception of costs, and a lack of clear ROI as barriers to 5G investment.
“Organisations that measure cost to business not just on initial investment but also on uptime, response time, customer satisfaction, reach and diverse solution offerings will quickly realise how 5G business value impacts their bottom line,” McGregor said.
Survey methodology
‘The State of Connectivity in Singapore’ is based on the findings of Censuswide research of over 500 respondents across Singapore. Respondents were business owners, C-level executives or senior managers at businesses with over 250 employees; all were technology decision-makers.
Vertical sectors polled in this report included: Building, Arts & Culture, Education, Finance, Healthcare, HR, IT & Telecoms, Legal, Manufacturing & Utilities, Retail, Catering & Leisure, Travel and Transport, Government, First Responders, Public Transportation, Automotive, Building Management, Supply Chain & Logistics, Maritime, and Agriculture.
The full Cradlepoint 2024 Connectivity Report Singapore can be found here.
About Cradlepoint
Cradlepoint enables the freedom to connect people, places, and things that drive more experiences, more ways to work, and better business results — anywhere. The company is a pioneer in Wireless WAN, offering advanced 4G and 5G routers and adapters — controlled through Cradlepoint NetCloud™. Enterprise businesses and public sector agencies rely on Cradlepoint and its Cellular Intelligence to build a reliable, secure network wherever they need it, connecting fixed and temporary sites, vehicles, IoT devices, and remote employees. Headquartered in Boise, Idaho, Cradlepoint is a wholly owned subsidiary of Ericsson (NASDAQ: ERIC) and part of their Business Area Enterprise Wireless Solutions. It has international offices in Asia Pacific, Canada, Europe, India, and Latin America. www.cradlepoint.com.
Contact
Biana Chamlet
Cradlepoint APAC PR
Biana.chamlet@cradlepoint.com
SOURCE : Cradlepoint
Sunday, 14 April 2024
EXPEREO ANNOUNCES BEN ELMS AS CHIEF EXECUTIVE OFFICER; IRWIN FOUWELS BECOMES EXECUTIVE CHAIRMAN
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| Ben Elms (Photo: Business Wire) |
AMSTERDAM, April 12 (Bernama-BUSINESS WIRE) -- Expereo, the world leading global intelligent internet company that connects people, places and things anywhere today announces the appointment of Ben Elms as Chief Executive Officer and Irwin Fouwels as Executive Chairman, effective May 1st, 2024.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240410648166/en/
This strategic move is part of Expereo's commitment to driving sustained growth and building on its legacy of innovation and global customer success. With their combined experience in the telecommunications and technology sectors, Elms and Fouwels bring a wealth of expertise and leadership to their new roles within the business.
As CEO, Ben Elms will be responsible for driving the company's strategic vision, enhancing operational efficiency, and fostering innovation to meet the evolving needs of Expereo's global customer base. He brings over 25 years of relevant experience having held key executive roles at prominent firms and prior to joining Expereo as the CEO of Vodafone Global Enterprise Business, serving its multinational customers around the world.
Since joining in 2022 as Chief Revenue Officer, Elms has successfully led transformative initiatives such as expereoOne Expereo’s digital customer experience platform and driven its direct enterprise go-to-market strategy. This has positioned Expereo as a recognized global leader in delivering unique transformative customer value through its global enterprise network and cloud access solutions. In the first quarter of this year, Expereo launched its Enhanced Internet proposition, optimizing global cloud application performance through a proprietary AI-driven routing optimization platform. Leveraging Elms’ strong background in IoT and mobility, Expereo also added enterprise grade Fixed Wireless Access and Low Orbit Satellite solutions to its wide array of managed global connectivity solutions.
Saturday, 13 April 2024
XPENG EXPANDS FOOTPRINT WITH ENTRY INTO HONG KONG AND MACAU
GUANGZHOU, China, April 12 (Bernama-GLOBENEWSWIRE) -- XPENG Motors (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today expands its footprint through a dealer partnership with Sime Darby Motors in Hong Kong.
The partnership will enable XPENG to bring its latest smart EVs to local consumers in the Hong Kong market with branded showrooms, after-sales support, and comprehensive guidance through each stage of the buying process.XPENG has already experienced rapid growth in the ten years since its establishment in 2014. As of the end of last year, its cumulative historical delivery volume exceeded 400,000, and it delivered more than 140,000 new vehicles in 2023 alone.
A Strategic Move
Entry into Hong Kong is a strategic next step for XPENG's business expansion. As an international business hub and one of Asia’s most vibrant cosmopolitan cities, Hong Kong serves as an important springboard for XPENG’s global expansion. Entering the Hong Kong market is strategically important as a model for our market expansion and a testament to our focus to scale. XPENG is fully committed to bringing innovation that serves our customers’ evolving needs as well as realising a future of human-first intelligent mobility in Hong Kong, and around the world.
Brian Gu, Vice Chairman and President of XPENG, said: “Today is a major milestone in XPENG Motors' overseas strategy. With our brand's advanced smart electric vehicle and leading technology, we are committed to providing car owners with smarter travel solutions, as well as an environmentally friendly driving experience. Coupled with Sime Darby Motors’ years of sales experience in the Hong Kong automotive market, we are excited to bring the premium XPENG experience to Hong Kong.”
Wednesday, 10 April 2024
TEENAGE PHYSICAL ACTIVITY IMPACTS ADULT MENTAL WELLBEING - ASICS STUDY
KUALA LUMPUR, April 9 (Bernama) -- ASICS Global State of Mind Study uncovers a direct link between teenage physical activity and adult mental wellbeing, reaffirming the connection between movement and the mind.
In a statement, its Managing Executive Officer, Tomoko Koda said: “The results of our second global State of Mind Study show how important it is that young people stay active and the impact this can have on their minds for years to come.”
The study of over 26,000 respondents across 22 countries found that the more people exercise, the higher their State of Mind scores, which is formulated based on the accumulative mean scores across 10 cognitive and emotional traits namely, positive, content, relaxed, focused, composed, resilient, confident, alert, calm, and energised.
Across the globe, respondents who are regularly active with 150 minutes or more of physical activity per week, have an average State of Mind score of 67 out of 100, while inactive people with less than 30 minutes of exercise per week have a much lower State of Mind score of just 54 out of 100.
Participants who engaged in exercise throughout their adolescence report higher activity levels and State of Mind scores as adults, indicating that remaining active as a teenager is key to establishing good exercise habits that last into adulthood and positively impact adult mental wellbeing.
In fact, the study was able to pinpoint each additional year a teenager remains engaged in exercise is associated with improved State of Mind scores in adulthood, with the ages between 15 to 17 identified as the most critical years for staying active and when dropping out of exercise significantly affects the mental state for years to come.
Those who regularly exercise are found to be more likely to remain active later in life and report higher State of Mind scores as adults (64 out of 100 vs 61 out of 100) than those who were not active during these years.
In comparison, respondents who dropped out of exercise before the age of 15 displayed the lowest activity levels and lowest State of Mind scores in adulthood, scoring 15 per cent lower than the global average, while a decline in physical activity at ages 16 to 17 and before the age of 22 reduced their average scores by 13 per cent and six per cent respectively.
Worryingly, the study also uncovered an exercise generation gap, with younger generations being increasingly less active with 57 per cent of the Silent Generation (age over 78) said they were active daily in their childhoods compared to just 19 per cent of Gen Z (ages 18 to 27).
This shows a concerning trend of younger generations disengaging from exercise earlier and in larger numbers, potentially impacting their mental wellbeing now and for years to come. Globally, Gen Z has the lowest State of Mind scores with an average of 62 out 100 compared to the Baby Boomers’ 68 out 100 and the Silent Generation’s 70 out 100.
-- BERNAMA
H2O.AI NAMED LEADER IN COMPUTER VISION TOOLS BY FORRESTER RESEARCH
KUALA LUMPUR, April 9 (Bernama) -- Artificial intelligence (AI) Cloud leader H2O.ai, has announced its recognition as a Leader in The Forrester Wave: Computer Vision Tools, for the first quarter of 2024.
According to a statement, this evaluation by Forrester Research, one of the most influential research and advisory firms in the world, underscores H2O.ai's commitment to excellence and innovation in the rapidly evolving field of computer vision (CV).
“For us, this acknowledgement is a reflection of our relentless pursuit of empowering organisations with state-of-the-art AI solutions that drive real-world impact.
“H2O.ai's cutting-edge computer vision capabilities are part of a broader suite of AI tools that enable businesses to transform vast amounts of visual data into actionable insights,” said its founder and chief executive officer, Sri Ambati.
In a comprehensive analysis of computer vision tools, Forrester assessed 12 vendors that possess enterprise-class CV platforms and a significant presence in the market.
H2O.ai received the highest scores possible in 12 criteria, including data and model testing, innovation, partner ecosystem, adoption, as well as pricing flexibility and transparency.
The Forrester Wave report and the in-depth Forrester Evaluation Overview details how the company's products were evaluated across various criteria including data management; model development; data and model testing; model inference; architecture; and complementary functionalities.
The report offers a wealth of knowledge for businesses looking to leverage the power of computer vision and AI to stay ahead in their respective industries.
Since its inception in 2012, H2O.ai has consistently been at the forefront of AI and machine learning technology, aiming to bring together the world’s top data scientists with customers to co-create Generative AI (GenAI) applications that are usable and valuable by everyone.
-- BERNAMA
Monday, 1 April 2024
LEONARD GREEN & PARTNERS AND BERKSHIRE PARTNERS PORTFOLIO COMPANY, SRS DISTRIBUTION, ENTERS INTO A DEFINITIVE AGREEMENT TO BE ACQUIRED BY THE HOME DEPOT FOR $18.25 BILLION
LOS ANGELES & BOSTON, March 29 (Bernama-BUSINESS WIRE) -- The portfolio company of Leonard Green & Partners and Berkshire Partners, SRS Distribution (“SRS”), has entered into a definitive agreement with The Home Depot to be acquired for $18.25 billion. The details of this sale were made public in press releases issued this morning by The Home Depot and SRS. SRS is a leading distributor of residential and commercial building products in the United States, with more than 760 branches across 47 states. The Home Depot is the world’s largest home improvement retailer.
“We feel privileged to have had the opportunity to invest in and partner with SRS and its more than 11,000 employee stakeholders,” said Jonathan Seiffer, Senior Partner, Leonard Green & Partners. “We extend a heartfelt thank you and congratulations to the entire team at SRS on their remarkable history of growth. SRS’s legacy of success and achievement would not have been possible without the phenomenal leadership of CEO Dan Tinker and his team and Chairman Ron Ross, as well as the unique culture and operating model that they have forged at SRS.”“Since our investment in SRS 11 years ago, we’ve enjoyed a highly collaborative and effective partnership with CEO Dan Tinker and the entire SRS management team and we’re thrilled to reach such a successful milestone in this announced sale to The Home Depot,” said Josh Lutzker, Managing Director, Berkshire Partners. “SRS started as a small, regional player and has grown into a national platform serving multiple end markets. We’re all proud to be associated with such a great team and growth story.”
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