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

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

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

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

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

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

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

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

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

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

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

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

About CSOP

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

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

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

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

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

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

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

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


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Contact

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

Source : CSOP Asset Management Limited

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

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

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

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

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

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

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

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

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

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

Contact Black & Veatch for more information.

About Black & Veatch

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

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Contact

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

Source : Black & Veatch

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

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

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

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

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

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

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

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

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

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

-- BERNAMA

QUANTEXA EARNS RECOGNITION IN CHARTIS RISKTECH QUADRANT FOR KYC SOLUTIONS

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

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

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

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

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

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

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

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

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

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

-- BERNAMA

HEMOHIM MANUFACTURER KOLMAR BNH RECEIVES NAI CLASSIFICATION FROM THE US FDA

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


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

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

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

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

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

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

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

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Contact

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

Source : Kolmar BNH Co., Ltd.

Singapore-based Talendy Holdings To Grow Asia Pacific Businesses

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

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

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

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

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

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

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

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

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

-- BERNAMA

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

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

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

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

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

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

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

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

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

-- BERNAMA

EXPEDITION TO A GLOBAL STAGE: AITO EXHIBITS HIGH-END INTELLIGENT SUVS AT THE PARIS MOTOR SHOW 2024

^{Eurasian Tour with AITO (Photo: Business Wire)}



AITO appeared at the 90th Paris Motor Show, presenting its latest lineup of high-end intelligent electric vehicles under the theme "Intelligence Redefining Luxury." The display featured three models—AITO 9, AITO 7, and AITO 5—highlighting the brand's combination of "Traditional Luxury and Technological Luxury." The product lineup showcased advanced technology, intelligent driving, and comprehensive safety features, reflecting versatility for various driving scenarios. AITO's arrival at the Paris showcase marked the culmination of the "Eurasian Tour with AITO," a 38-day journey of around 15,000 kilometers, demonstrating the reliability and performance of its vehicles.


PARIS, Oct 16 (Bernama-BUSINESS WIRE) -- AITO, a high-end intelligent electric vehicle brand, appeared at the Paris Motor Show 2024, displaying an outstanding lineup of three luxury Range Extended Electric Vehicles (REEVs). Combining "Traditional Luxury and Technological Luxury," AITO is introducing new luxury concepts, to provide leading intelligent mobility experiences to consumers worldwide. Embracing "Intelligence Redefining Luxury," AITO introduced its product lineup and innovations, including the AITO 9, AITO 7, and AITO 5, along with the AITO MF Platform and Super Range-extender technology.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241014003833/en/
 

 

The "Eurasian Tour with AITO," an expedition approx. 15,000 kilometers from AITO’s Super Factory in Chongqing, preceded AITO’s arrival at the Paris Motor Show. The tour validated the exceptional performance of AITO's models in complex and challenging environments. From factory floor to auto show, the convoy, featuring AITO 9, AITO 7, and AITO 5 vehicles, traveled through 12 cities over 38 days. With AITO intelligent driving assistance technology managing over 8,800 kilometers, mitigating driving fatigue during the Tour.

As the All-Scenario Intelligent Flagship SUV, the AITO 9 showcased its remarkable performance in tough environments during the expedition. It faced the most demanding circumstances—extreme road conditions, intense temperatures, and difficult terrains from high-altitude mountains to arid deserts. Supported by advanced technology and comprehensive security features, AITO 9’s capabilities were rigorously tested across multiple dimensions. Recognized by consumers and the market, AITO 9 achieved over 140,000 cumulative orders and 100,000 unit deliveries within nine months of its launch, ranking third in sales, among models above 60,000 EUR in the Chinese luxury market.

Positioned as the Range Extended Large-size Comfort SUV, the AITO 7 easily adapts to any family travel scenario. Highly praised during the “Eurasian Tour with AITO” for its unification of space and comfort, it features zero-gravity seats, complimented by front and rear seat massage functions that alleviate on-road fatigue. Built with submarine-grade hot-stamped steel, the vehicle comes standard with eight safety airbags, and an aviation-grade 5-layer thermal insulated battery to ensure safety under all conditions.

The AITO 5 is a Stylish Urban Performance Mid-size Sports SUV, featuring a sporty design with a clean, powerful silhouette. Built on a full aluminum alloy chassis with front double-wishbone and rear multi-link independent suspension, it delivers exceptional handling while ensuring a lightweight structure. Accelerating from 0 to 100 km/h within 5 seconds, the AITO 5 offers impressive performance; throughout the journey across Eastern Europe, the team experienced exhilarating moments behind the wheel. In terms of intelligent features, the vehicle is equipped with a driver assistance system, featuring automatic parking, remote parking assistance, and tracked reverse functionalities, bringing drivers both enhanced convenience and safety.

AITO's exceptional product performance is powered by the versatile and continuously evolving AITO MF Platform—the only platform in the industry capable of supporting Super Range-extended Electric, Battery Electric, and Ultra Hybrid power options. Offering four core characteristics: Intelligent Safety, Diverse Powertrain, Adaptable Cabin Space, and Leading Intelligence, this platform underpins the Super Range-extender technology. With an impressive thermal efficiency of 45% and an industry-leading fuel-to-electric conversion rate of 3.65 kWh/L, the Super Range-extender technology automatically balances NVM-optimized electric power for smooth, silent city driving with long-distance refueling. It also adapts power generation strategies based on the user's driving habits, ensuring an optimal blend of comfort and economy.

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Contact

Joanna Gong
gongqiong@dsconsulting.com

Source : AITO

MCO MOVES UP IN PRESTIGIOUS CHARTIS RESEARCH RISKTECH 100 RANKINGS

NEW YORK, Oct 11 (Bernama-BUSINESS WIRE) -- Global compliance software provider MCO (MyComplianceOffice) announced that the company has once again been ranked among the world’s top risk and compliance technology solutions as part of the RiskTech100^® 2025 by global research and analysis firm Chartis Research, climbing to #44 on the list.

“We’re thrilled to be acknowledged as an industry leader in the global risk and compliance technology marketplace through the rigorous Chartis benchmarking and assessment process,” noted MCO CEO Brian Fahey. “As a company we will continue to focus on innovation so we can keep delivering better compliance to our client firms, enabling them to ensure that policies and procedures are effectively implemented and monitored, and regulatory compliance is maintained across the firm.”

MCO helps firms with even the most complex regulatory obligations gain more efficient and effective compliance management while enabling cross-surveillance of the company’s employee activities, transactional conflicts of interest, and third-party relationships on a single platform with a single source of data.

In August of 2024 MCO announced the acquisition of Pythagoras Solutions, strengthening MCO’s third-party compliance capabilities and adding KYC (Know Your Customer) and AML (Anti-Money Laundering) solutions. 

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H2O.AI PARTNERS SINGTEL’S DIGITAL INFRACO TO DELIVER GENAI-AS-A-SERVICE

KUALA LUMPUR, Oct 11 (Bernama) -- H2O.ai, the leader in open-source generative artificial intelligence (GenAI) has announced a strategic partnership with Singtel’s Digital InfraCo to bring GenAI-as-a-Service (GenAIaaS) to organisations across Asia Pacific (APAC).

This partnership brings together H2O.ai's best-in-class GenAI and Predictive AI with Singtel AI cloud’s powerful and secure graphics processing unit (GPU) infrastructure to deliver a sovereign GenAI platform for private and public sector organisations with strict data protection needs.

“With our open source community, partnership ecosystem and unique mindset of co-creation with customers we are transforming large banks, telcos and public sector by leveraging their data, upskilling their people, and building custom GenAI and Predictive AI for solving problems and bettering life of citizens globally,” said H2O.ai Founder and Chief Executive Officer (CEO), Sri Ambati in a statement.

Meanwhile, Singtel Digital InfraCo CEO, Bill Chang said: “As organisations move toward AI-driven solutions, our partnership with H2O.ai ensures that they have access to state-of-the-art GenAI solutions developed on RE:AI’s cloud platform.

“Together, we are enabling businesses to innovate faster, enhance customer experiences, and optimise internal operations with the power of AI.”

H2O.ai GenAI software suite will be integrated with Singtel’s Paragon platform that powers Singtel AI Cloud, to enable customers to reduce time to develop and deploy AI use cases with optimal total cost of ownership (TCO).

An existing customer of H2O.ai, Singtel is expanding to offer H2O.ai full stack AI service to be integrated with Singtel Paragon platform to offer an “AI as a service” offering on Singtel GPU cloud.

The unified AI as a service solution that bundles the needed GPU infrastructure will offer customers a cost-efficient full stack AI platform for GenAI and Predictive AI to address a wide range of robust Document AI business use cases.

This collaboration between H2O.ai and Digital InfraCo marks a major step forward in bringing secure, scalable GenAIaaS to organisations across APAC while ensuring data sovereignty and compliance.

-- BERNAMA

DUCK CREEK TECHNOLOGIES ACQUIRES RISK CONTROL TECHNOLOGIES TO DELIVER COMPREHENSIVE RISK MANAGEMENT AND MITIGATION SOLUTIONS

Risk Control’s Platform Will be Fully Integrated into Duck Creek’s Comprehensive Suite of SaaS Solutions for P&C and General Insurers


BOSTON, Oct 11 (Bernama-GLOBE NEWSWIRE) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) insurance, today announced it has acquired Risk Control Technologies, Inc. (“RCT”), a Toronto-based provider of risk management and loss control solutions. This strategic investment is set to transform how insurance carriers prevent loss and manage risk, enabling deployment of advanced AI and machine learning capabilities at the forefront.

“As the world faces increasing risks—whether from climate change, cyber threats, or other emerging challenges—having advanced tools to manage these exposures is crucial. Risk Control is a leader in not only identifying potential loss, but preventing it through preemptive risk mitigation,” said Mike Jackowski, Chief Executive Officer of Duck Creek Technologies. “In addition to sharing Duck Creek’s core values, Risk Control’s leadership and team members bring a wealth of insurance knowledge and experience. Together, we will help insurers work closely with their policy holders to prevent losses, improve safety and better prepare for the future.”

The RCT RiskHub platform will enhance the Duck Creek SaaS suite of insurance technology products, further increasing Duck Creek’s ability to improve underwriting accuracy, optimize claims processes, and reduce overall risk exposure. By integrating RCT’s solution into Duck Creek Technologies platform, insurance carriers will have rich predictive capabilities, enabling them to better manage underwriting risks and maximize an efficient, integrated policy and claims management experience.

“Being part of Duck Creek Technologies will strengthen our goal to help carriers optimize and increase risk-data coverage across their entire business,” said David Da Costa, Chief Executive Officer of Risk Control Technologies. “We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry and help insurers strengthen their customer engagements and drive impactful operational efficiencies. We look forward to this new chapter and the enhanced capabilities we can now offer to the market as part of the Duck Creek family."

RCT’s industry-leading loss control and risk assessment platform will be seamlessly integrated with Duck Creek’s comprehensive suite of products to enable data-driven decisions for all stakeholders to improve proactive risk mitigation.

“I'm confident that the combined strengths of Duck Creek and Risk Control, two of our most trusted partners, will bring enhanced capabilities and innovative solutions to the market to bolster risk management and loss control,” said Murali Natarajan, Senior Vice President and Chief Information Officer of West Bend Mutual Insurance. “We look forward to the positive impact this integration will have on our underwriting process, ultimately benefiting our business and customers.”

Raymond James & Associates served as financial advisor to Risk Control Technologies on the transaction.

About Risk Control Technologies

Risk Control Technologies Inc. (RCT) is the leading provider of Risk Management and Loss Control software to the insurance industry. RCT’s RiskHub platform helps underwriting assess risk, and leverage the appropriate risk assessment tool based on the risk’s complexity. RCT helps over 150 insurance organizations improve their loss ratios, increase customer retention, implement operational efficiencies, and harness powerful data insights to enable better business decisions. RCT’s customers include a wide range of insurance organization types, operating across a broad variety of lines of business. For more information, visit www.riskcontroltech.com.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

Media Contacts:

Marianne Dempsey/Tara Stred
duckcreek@threeringsinc.com 

SOURCE : Duck Creek Technologies

IRIUSRISK PARTNERS WITH ADAM SHOSTACK TO DELIVER THREAT MODELING COACHING SERVICES

 

• Adam Shostack to lead the coaching with his handpicked team, which is designed to help take customer’s threat modeling skills to the next level.
• Shostack is a leading expert on threat modeling, having produced the Microsoft SDL Threat Modeling Tool (v3) and authored Threat Modeling: Designing for Security and Threats: What Every Engineer Should Learn from Star Wars. 

ATLANTA, Oct 9 (Bernama-GLOBE NEWSWIRE) -- IriusRisk, the world’s leading Open Threat Modeling platform, has announced a partnership with Shostack + Associates to help customers build and sustain a security-first culture through effective threat modeling.

As part of the partnership, Adam Shostack, the pioneer, consultant and author on threat modeling, and his team at Shostack + Associates, will deliver coaching sessions to help users understand threat modeling to improve secure design, which will complement existing training courses on how to use IriusRisk’s automated threat modeling platform. 

The coaching will offer either 1-3 live instruction sessions over the course of a week, or self-paced, virtual sessions, focused on ensuring every member of a team has technical skills to understand and deploy threat modeling and secure by design principles. When delivered to an entire team, the coaching is designed to create a consistent baseline between those who are new to threat modeling and those who’ve learned via apprenticeship, other courses, or perhaps self-taught approaches.

The coaching will help customers overcome the stumbling blocks sometimes encountered while rolling out threat modeling, such as aligning programs with corporate goals, defining roles and responsibilities within the threat modeling programs and embedding threat modeling into existing engineering culture. 

Adam’s team will work closely with customers to determine the metrics, people, culture and processes that need to be in place to successfully integrate threat modeling into their company. By equipping leadership with the right materials, processes, and information, they can then communicate their mission back to internal stakeholders in a way that aligns with those stakeholders’ needs. 

IriusRisk empowers developers, architects, and security engineers to build secure software at every stage of the Software Development Lifecycle (SDLC). By integrating security from the initial design phase and tracking its implementation through the development toolchain, IriusRisk’s platform addresses the critical need for developers to ‘shift left’ on security, minimizing design flaws and cutting associated costs.

“We’re excited to partner with Adam to deliver this new coaching program,” said Stephen de Vries, Co-Founder and CEO of IriusRisk. “As threat modeling rapidly becomes a must-have strategy for security and development teams, this coaching equips our customers with the essential skills to implement successful threat modeling programs and effectively champion its value across their organization.” 

“Threat modeling, in a lot of ways, isn’t just technical steps for security and developer teams - it’s a cultural shift in how they operate. To master it, you need to have the right information and tools.” added Adam Shostack. “That’s why we’re proud to partner with IriusRisk to help its customers tackle teething issues around implementing threat modeling and deliver a successful program that can scale.” 

The coaching is aimed specifically at the leadership owning a threat modeling program in both the North American and international markets. 

For more information please visit https://www.iriusrisk.com/shostack-associates-coaching 

http://mrem.bernama.com/viewsm.php?idm=49471

CURIA UNVEILS BRAND REFRESH AT CPHI WW IN MILAN

The refined brand highlights Curia’s key capabilities and personalized approach across small molecules, generic APIs and biologics

ALBANY, N.Y., Oct 8 (Bernama-GLOBE NEWSWIRE) -- Curia, a leading contract research, development and manufacturing organization, today unveiled its refreshed brand. The update introduces refined corporate messaging and a new brand hierarchy, highlighting the breadth of Curia’s CDMO capabilities across small molecules, generic APIs and biologics. This brand update underscores Curia’s role as a dedicated ally to its clients, leveraging 30+ years of industry experience and a robust global presence to accelerate product timelines by addressing both simple and complex challenges across drug discovery, development and manufacturing.

The brand refresh includes:

 

• Three distinct commercial service logos – Curia has established brand logos for each of its three key service offerings across small molecules, generic APIs and biologics. This new hierarchy of service logos clearly communicates Curia’s robust portfolio of services and solutions.

• Revamped website – Curia is pleased to simultaneously launch its updated website. The evolved design improves the user experience for clients and prospects seeking best-in-class contract development and manufacturing services in small molecules, generic APIs, biologics, analytical services and sterile fill-finish. 

http://mrem.bernama.com/viewsm.php?idm=49465

PHILIPS, SILOAM HOSPITALS GROUP TO BACK INDONESIA’S HEALTHCARE TRANSFORMATION STRATEGY

KUALA LUMPUR, Oct 7 (Bernama) -- Royal Philips, a global leader in health technology, and Siloam Hospitals Group, Indonesia’s private healthcare provider, have signed a memorandum of understanding (MoU) to advance artificial intelligence (AI) capabilities and development in the healthcare sector in Indonesia.

The strategic collaboration, in partnership with the Universitas Pelita Harapan (UPH) Medical Sciences Group, will focus on capacity building, knowledge sharing, and implementing advanced AI solutions.

“At Philips, we believe that informatics and AI will help transform healthcare by optimising workflows, improving efficiency and increasing capacity, making healthcare more accessible and delivering better care for more people.

“We are excited to collaborate with Siloam Hospitals and Universitas Pelita Harapan to drive this transformation and fully support the Indonesian government’s vision of improving healthcare through digital innovation,” said Royal Philips Chief Executive Officer, Roy Jakobs in a statement.

Meanwhile, Siloam Hospitals Group Deputy President Director, Caroline Riady said: “This partnership with Philips, Siloam Hospitals and Universitas Pelita Harapan is a significant milestone in our journey to bring advanced healthcare technologies to Indonesia.

“By investing in AI capability and sharing global expertise, we are helping to build a smarter, more efficient healthcare system that will benefit millions of Indonesians and support the national healthcare agenda.”

Key areas of focus in the partnership include AI-driven clinical care; global knowledge sharing with Philips; digital health transformation; supporting the Indonesian government’s healthcare goals; and expertise sharing for driving environmental, social and governance (ESG) in healthcare.

Leveraging Philips’ AI innovations, the collaboration will help transform clinical care and digital health, enhance healthcare delivery and make the healthcare infrastructure more sustainable, with the goal of delivering better care for more people in Indonesia.

In addition, this partnership aligns with the Indonesian government’s healthcare strategy to improve healthcare accessibility, enhance clinical outcomes, and embrace digital transformation.

-- BERNAMA

MYT NETHERLANDS PARENT B.V. ("MYTHERESA") AND RICHEMONT SIGN AGREEMENT FOR MYTHERESA TO ACQUIRE YOOX NET-A-PORTER ("YNAP") TO CREATE LEADING, GLOBAL, MULTI-BRAND DIGITAL LUXURY GROUP IN EXCHANGE FOR A 33% EQUITY STAKE IN MYTHERESA

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
7 OCTOBER 2024
 

• Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments
• Mytheresa to issue shares to Richemont representing 33% of Mytheresa’s fully diluted share capital
• Richemont to provide a €100m revolving credit facility to YNAP
• Closing of transaction expected in H1 2025, subject to customary conditions, including regulatory approvals
• Transaction creates multi-brand digital group of significant scale, global reach as well as exceptional customer centricity

MUNICH & GENEVA, Switzerland, Oct 7 (Bernama-BUSINESS WIRE) -- Today, Mytheresa (NYSE:MYTE) and Richemont (SWX:CFR) announce that they have entered into binding agreements for the acquisition of 100% of the share capital of YNAP by Mytheresa. The transaction aims to create a leading, global, multi-brand digital luxury group offering a highly curated and strongly differentiated edit of the most prestigious luxury brands and products to luxury enthusiasts worldwide.

Transaction Rationale

Mytheresa and YNAP have each earned a strong reputation in the luxury industry for their pioneering roles in innovation, authoritative editorial voice and curation, as well as high-quality customer service. Together, the different storefronts cover a broad spectrum of the luxury market with distinct propositions in terms of brand portfolio, customer and geographical focus while sharing the strategic positioning towards high end customers.

In the medium term, Mytheresa’s vision for the combined group entails:

• The integration of YNAP’s Luxury division into Mytheresa, to form one group with three distinct storefronts: MYTHERESA, NET-A-PORTER and MR PORTER, which is expected to:
  • Provide a broader and further differentiated luxury offering towards customers based on distinctive assortments, marketing and customer touchpoints;
  • Offer luxury brand partners an even broader and specific reach of luxury consumers worldwide as a result of distinctive curation and inspiration; and
  • Share infrastructure including Mytheresa`s technology platform and operational best practices to facilitate greater efficiencies while maintaining their distinct brand identities.
• The separation of the off-price division - comprising YOOX and THE OUTNET, leading destinations for online off-price luxury shopping - from the Luxury division to allow for a simpler and more efficient operating model driving higher growth and profitability.
• The discontinuation of YNAP’s white label division, once the Richemont Maisons’ online stores powered by YNAP migrate to their own chosen platforms.

Michael Kliger, CEO of Mytheresa, said: “I am truly excited by today’s announcement. With this transaction, Mytheresa aims to create a pre-eminent, multi-brand, digital, luxury group worldwide. MYTHERESA, NET-A-PORTER and MR PORTER will offer differentiated but complementary multi-brand luxury edits based on curation, inspiration and outmost customer service. The three brands will share a large part of their infrastructure creating synergies and efficiencies while maintaining their different brand identities. The off-price business will benefit from the separation from luxury and a much simpler operating model driving growth and profitability. We believe that this transaction will create significant value for our shareholders, brand partners and most importantly for our high-end customers.”

Johann Rupert, Chairman of Richemont, said: “We are pleased to have found such a good home for YNAP. As a trusted partner to many of the world’s leading global luxury brands, YNAP is renowned for its pioneering high-end customer services complemented by its distinctive and inspirational editorial voice. Mytheresa is ideally placed to build on YNAP’s assets to further delight customers and brand partners alike across the world by harnessing both companies’ respective strengths.”

Financial consideration

At transaction closing, Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments, in exchange for shares to be issued by Mytheresa representing 33% of Mytheresa’s fully diluted¹ share capital at closing following issuance of the consideration shares. Richemont will make available a 6-year revolving credit facility of €100m to finance YNAP’s general corporate needs, including working capital.

Richemont will have the right to nominate a member and an observer to the Supervisory Board of Mytheresa following closing.

Closing of the transaction, which is expected to occur in the first half of calendar year 2025, is subject to customary conditions, including the receipt of antitrust approvals.

The transaction is not subject to or conditional on approval by either Richemont or Mytheresa shareholders.

Richemont’s shareholding in Mytheresa will be subject to a one-year lock-up period following transaction closing, followed by a further one-year period in which only certain limited sale transactions may take place.

As a result of this transaction, Richemont currently expects the write-down of YNAP net assets to amount to approximately €1.3 billion, which also accounts for the cash to be left in YNAP upon completion. This value is subject to change until completion date as it depends on several variables, namely Mytheresa’s share price, the USD/EUR foreign exchange rate, the value of net assets and debt-like items of YNAP at completion date.

Conference Call Information

Mytheresa will host a conference call to discuss the transaction at 8am Eastern Time. Those wishing to participate via webcast should access the call through Mytheresa’s Investor Relations website at https://investors.mytheresa.com. Those wishing to participate via the telephone may dial in at +1 800 715 9871 (USA). The participant access code will be 3814635. The conference call replay will be available via webcast through Mytheresa’s Investor Relations website. The telephone replay will be available from 10am Eastern Time on October 7, 2024, through October 14, 2024, by dialing +1 800 770 2030 (USA). The replay passcode will be 3814635.

Forward Looking Statements

This release contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the timing and completion of and expected benefits from the transactions involving Richemont Maisons, NET-A-PORTER and YNAP, expectations regarding future opportunities and our market position, our business plans and strategy, future financial or operating performance, as well as statements that include the words “expect,” “plan,” “believe,” “estimate,” “may,” “should,” “anticipate,” “will,” “could,” “aim,” “continue” and similar statements of a future or forward-looking nature. Such forward-looking statements are not guarantees of future performance. Richemont’s forward-looking statements are based on management’s current expectations and assumptions regarding YNAP’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumer traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers’ desire to travel to our retail stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw materials, whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside Richemont’s control. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Richemont does not undertake to update, nor does it have any obligation to provide updates of, or to revise, any forward-looking statements.

This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward- looking statements. Forward-looking statements give Mytheresa’s current expectations and projections relating to the proposed transaction and the operation of the combined companies; its financial condition, results of operations, plans, objectives, future performance and business, including statements relating to financing activities, future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements contained in this press release are based on assumptions that Mytheresa has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond Mytheresa’s control) and assumptions. Although Mytheresa believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward-looking statements. Mytheresa believes these factors include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination or abandonment of the proposed transaction; the expected timing and likelihood of completion of the proposed transaction with Richemont, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could reduce anticipated benefits or cause the parties to abandon the transaction; the risk that the conditions to closing the proposed transaction may not be satisfied in a timely manner or at all; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; Mytheresa’s ability to effectively compete in a highly competitive industry; Mytheresa’s ability to respond to consumer demands, spending and tastes; Mytheresa’s ability to respond to any current or future health epidemic or other adverse public health development; Mytheresa’s ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; Mytheresa’s reliance on consumer discretionary spending; and Mytheresa’s ability to maintain average order levels and other factors. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, Mytheresa’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.

Mytheresa undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Mytheresa’s results could differ materially from the results expressed or implied by the forward-looking statements it makes.

You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent Mytheresa’s management’s beliefs and assumptions only as of the date such statements are made.

Further information on these and other factors that could affect Mytheresa’s financial results is included in filings it makes with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in its annual report on Form 20-F and on Form 6-K (reporting its quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.

About Mytheresa

Mytheresa is one of the leading luxury multi-brand digital platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported € 913.6 million GMV in fiscal year 2024 (+7% vs. FY23). For more information, please visit https://investors.mytheresa.com/.

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, Gianvito Rossi, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division.

Richemont ‘A’ shares are listed and traded on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. The ‘A’ shares are also traded on the JSE Johannesburg Stock Exchange, Richemont’s secondary listing.

About YOOX NET-A-PORTER (YNAP)

YNAP is a world leading online luxury and fashion retailer, with a distinctive offering including multi-brand in-season online stores NET-A-PORTER and MR PORTER, and multi-brand off-season online stores YOOX and THE OUTNET.

Uniquely positioned in the high growth online luxury sector, YNAP has a client base of c.4 million high-spending customers and over 900 million visitors worldwide. The Group has offices and operations in the United States, Europe, Middle East, Japan, mainland China and Hong Kong SAR, China. It delivers to over 170 countries around the world.

¹ Mytheresa’s fully diluted share capital includes outstanding issued shares, plus probability-adjusted vested and unvested RSU / PSU and stock options plans.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241006718886/en/

Contact

Mytheresa Contacts
Media Contacts for public relations
Mytheresa.com GmbH
Sandra Romano
mobile: +49 152 54725178
email: sandra.romano@mytheresa.com

Media Contacts for business press
Mytheresa.com GmbH
Lisa Schulz
mobile: +49 151 11216490
email: lisa.schulz@mytheresa.com

Investor Relations Contacts
Mytheresa.com GmbH
Stefanie Muenz
mobile: +49 89 127695-1919
email: investors@mytheresa.com

Richemont Contacts
Investor / analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Media Contacts for business press
BOC Consult GmbH
Ruediger Assion
mobile: +49 176 2424 7691
email: ruediger.assion@boc-consult.com

Source : MYT Netherlands Parent B.V.

DUCK CREEK PAYMENTS FACILITATOR PROVIDES SEAMLESS END-TO-END INSURANCE PAYMENT SOLUTION

KUALA LUMPUR, Oct 3 (Bernama) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, introduced its latest insurance-focused payments solution, the Duck Creek Payments Facilitator.

According to Duck Creek Technologies in a statement, this modern, end-to-end payment solution caters to the nuances of payments within insurance by providing carriers with access to digital payment methods for both collecting and disbursing funds.

Its Chief Executive Officer, Michael Jackowski said the Duck Creek Payments Facilitator is designed specifically to address the unique operational demands of insurance carriers.

“By embedding this capability into our broader platform, we are offering carriers a holistic approach that supports flexibility, boosts efficiency, and helps our clients deliver a frictionless experience for policyholders, agents, and vendors,” he said.

Meanwhile, its Chief Product and Technology Officer, Jess Keeney said: “In today’s fast-evolving insurance landscape, carriers require more than just transactional solutions. They need a secure, agile, and future-proof approach to global payment processing.

“The Duck Creek Payments Facilitator delivers exactly that, enabling insurers to effortlessly manage instant claims payouts to real-time premium payments, all from a single, proven solution.”

Duck Creek Payments Facilitator delivers a global solution, combining real-time capabilities, like FedNow, with traditional payments services and Banking as a Service (BaaS) functionalities, such as transactions via push-to-card or digital wallets.

Now insurers can collect or pay out to policyholders using any payment technologies in their market of choice.

Duck Creek Payments includes Duck Creek Payments Facilitator and Duck Creek Payments Orchestrator, introduced earlier this year.

-- BERNAMA

BUSINESSNEXT-MongoDB Collaboration Powering Autonomous Operations In Financial Services

KUALA LUMPUR, Sept 30 (Bernama) -- BUSINESSNEXT, a global leader in composable enterprise solutions for financial services, has partnered with New York-based MongoDB to accelerate autonomous operations powered with specialised predictive and generative artificial intelligence (Gen AI) for banking and insurance.

According to a statement, the collaboration between BUSINESSNEXT and MongoDB will empower banking and financial services with the technology needed to deliver exceptional customer experiences and drive autonomous operations.

BUSINESSNEXT Executive Director, Sushil Tyagi said the company is excited to partner with MongoDB to deliver cutting-edge solutions to its financial services clients.

“MongoDB’s industry-leading data protection protocols and our ability to handle complex data structures and scale effortlessly aligns with our vision of providing a modern, agile platform for banks,” he said.

Meanwhile, MongoDB Vice President, India and South Asia, Sachin Chawla said: “This partnership will help a large number of financial services organisations to accelerate their modernisation initiatives and use AI to drive differentiation.”

By combining BUSINESSNEXT’s deep expertise in financial services with MongoDB’s flexible, scalable database platform that has industry-leading encryption, access controls, and data protection protocols, the partnership will deliver innovative solutions that address the evolving needs of the industry.

BUSINESSNEXT’s suite of solutions to drive autonomous banking includes real-time AI at the core powering modern customer relationship management (CRM), digital journeys, lending platforms, risk-rating platforms, workforce assistants, and customer chatbots.

MongoDB’s document-oriented data model, with its flexible schema, nicely complements BUSINESSNEXT’s AI-driven capabilities. The partnership will enable banks to harness the power of their data to create personalised customer journeys, optimise lending processes, and make data-driven decisions.

Key benefits of the partnership include autonomous banking operations; enhanced customer experiences; accelerated lending processes; improved operational efficiency; and strengthened risk management.

This partnership also marks a significant milestone for both companies, and it is expected to drive significant value for financial institutions worldwide.

-- BERNAMA

CURIUM ANNOUNCES STRATEGIC PARTNERSHIP WITH PEPTIDREAM FOR PROSTATE CANCER THERANOSTICS IN JAPAN

• Collaboration to include the clinical development, regulatory filing, and commercialization in Japan of ¹⁷⁷Lu-PSMA-I&T and ⁶⁴Cu-PSMA-I&T
• Builds on long-standing relationship between the two companies
• In Japan around 90,000 new cases of prostate cancer are diagnosed each year

PARIS, Oct 2 (Bernama-GLOBE NEWSWIRE) -- Curium, a world leader in nuclear medicine, announced today that it has entered into a strategic partnership with PDRadiopharma Inc, a wholly-owned subsidiary of PeptiDream, for the clinical development, regulatory filing, and commercialization in Japan of ¹⁷⁷Lu-PSMA-I&T and ⁶⁴Cu-PSMA-I&T. The two agents ¹⁷⁷Lu-PSMA-I&T and ⁶⁴Cu-PSMA-I&T target prostate specific membrane antigen (PSMA) expressed on prostate cancer cells and are being investigated for prostate cancer treatment and diagnostics. Both target tumors with high levels of PSMA expression and thus potentially forming a theranostic (therapeutic & diagnostic) pair.

Under the terms of the partnership, Curium and PDRadiopharma will jointly collaborate on clinical development activities of ¹⁷⁷Lu-PSMA-I&T and ⁶⁴Cu-PSMA-I&T in Japan, with PDRadiopharma leading regulatory filing, manufacturing, commercialization, and distribution activities in Japan. Curium will continue to lead global development of the two agents and support PDRadiopharma through technology transfer to support the set-up of manufacturing lines in Japan – including a high throughput Copper 64 manufacturing line based on Curium’s proprietary technology.

Patrick C. Reid, President & CEO of PeptiDream commented: “Targeted radiopharmaceuticals are rapidly revolutionizing how we both diagnose and treat cancer. At PeptiDream and PDRadiopharma we are focused on expanding our pipeline of these powerful targeted therapies, and we are thrilled to be able to accelerate those efforts by partnering with Curium to bring their highly promising prostate cancer targeting radiopharmaceuticals to patients in Japan.”

Masato Murakami, President of PDRadiopharma & CMO of PeptiDream commented: “We are excited to partner with Curium in the development of ¹⁷⁷Lu-PSMA-I&T and ⁶⁴Cu-PSMA-I&T, highly promising products for both the diagnosis and treatment of PSMA-expressing prostate cancer. We look forward to working with Curium to deliver these much-needed agents to prostate cancer patients in Japan as quickly as possible.”

Chaitanya Tatineni, Curium’s CEO International Markets commented: “As a global innovator in the field of radiopharmaceuticals with a promising late-stage oncology pipeline, Curium is delighted to partner with PDRadiopharma which has more than four decades of experience in Japan. Curium and PDRadiopharma plan to leverage their complementary strengths to accelerate the development of innovative products for the benefit of prostate cancer patients in Japan.”

Prostate cancer continues to be widely prevalent in Japan. Annually, there are approximately 90,000 – 100,000 new cases, with patients with metastatic castration-resistant prostate cancer having an overall survival rate of approximately three years in clinical trial settings, and even shorter in the real-world, and there remains a significant unmet medical need for therapies.

¹⁷⁷Lu-PSMA-I&T, a PSMA inhibitor conjugated with the radioisotope Lutetium 177, is currently being tested by Curium in a global pivotal Phase 3 ECLIPSE trial (ClinicalTrials.gov identifier; NCT05204927). ECLIPSE is a multi-center, open-label, randomized clinical trial comparing the safety and efficacy of ¹⁷⁷Lu-PSMA-I&T versus hormone therapy in patients with metastatic castration-resistant prostate cancer. The ECLIPSE trial enrolled over 400 patients, across 51 trial sites in the United States and Europe.

⁶⁴Cu-PSMA-I&T PET is currently being investigated in 2 multicenter Phase 3 trials; SOLAR RECUR testing the diagnostic performance in men with biochemical recurrence of prostate cancer (ClinicalTrials.gov identifier NCT06235099) and SOLAR STAGE testing the diagnostic performance in men with newly diagnosed unfavorable intermediate- to high-risk prostate cancer (ClinicalTrials.gov identifier; NCT06235151). The first in human Phase 1/2 SOLAR trial met the co-primary endpoints of region-level correct localization rate and patient-level correct detection rate in patients with histologically-proven metastatic prostate cancer. PSMA-targeted PET/CT imaging is increasingly emerging as a highly sensitive method for detection of locally recurrent or metastatic lesions in the context of biochemical recurrence and for localization of primary prostate cancer.

Curium and PDRadiopharma have a long-standing relationship in the radiopharmaceutical field.

For more information:

PeptiDream Inc.
Yuko Okimoto, IR & Public Affairs
info@peptidream.com

PDRadiopharma Inc.
Noriko Tanaka, General Affairs
s-info-hq@pdradiopharma.com

Curium
Ross Bethell
VP, Head of Global Communications
communications@curiumpharma.com

About PeptiDream Inc.
PeptiDream Inc. (Tokyo Stock Exchange Prime Market 4587) is leading the translation of macrocyclic peptides into a whole new class of innovative medicines to address unmet medical needs and improve the quality of life of patients worldwide. In its radiopharmaceutical business, through its wholly-owned subsidiary PDRadiopharma, PeptiDream markets and sells a number of approved radiopharmaceuticals and radiodiagnostics in Japan, as well as leveraging its proprietary Peptide Discovery Platform System (PDPS) technology to discover and develop a deep pipeline of innovative targeted radiotherapeutics and radiodiagnostics, spanning both wholly-owned internal programs and globally partnered programs. In its non-radiopharmaceutical business, PeptiDream is similarly leveraging PDPS to discover and develop a broad and diverse pipeline of investigational peptide therapeutics, peptide drug conjugates (PDC) and multi-functional peptide conjugates (MPC) across an extensive global network of discovery and development partners.   PeptiDream is headquartered in Kawasaki, Japan. For more information about our company, science and pipeline, please visit www.peptidream.com/en

About PDRadiopharma
PDRadiopharma, a wholly-owned subsidiary of PeptiDream since 2022, has been providing high-quality radiopharmaceuticals through the research and development, manufacturing, regulatory and sales as a forerunner in the field in radiopharmaceuticals, since it started its business in 1968. PDRadiopharma currently markets 21 radiodiagnostic products (spanning both SPECT and PET products) and 8 radiotherapeutic products (3 product categories) in Japan. Additionally, PDRadiopharma and PeptiDream are developing a broad pipeline of radiotherapeutics and radiodiagnostics for both the Japan and global markets. For more information about PDRadiopharma, please visit www.pdradiopharma.com/en

About Curium
Curium is a world leader in nuclear medicine. We develop, manufacture, and distribute world-class radiopharmaceutical products to help patients around the globe. Our proven heritage combined with a pioneering approach are the hallmarks to deliver innovation, excellence, and unparalleled service. With manufacturing facilities across Europe and the United States, Curium delivers SPECT, PET and therapeutic radiopharmaceutical solutions for life-threatening diseases to over 14 million patients annually. The name ‘Curium’ honors the legacy of pioneering radioactive materials researchers Marie and Pierre Curie, after whom the radioactive element curium was named and emphasizes our focus on nuclear medicine. To learn more, visit www.curiumpharma.com     

Source: Curium US LLC 

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