KUALA LUMPUR, March 30 (Bernama) -- The Holafly eSIM & Travel Report revealed that 42 per cent of travellers actively take steps to travel more responsibly, highlighting a growing awareness of environmental impact among global explorers.
However, only 22.5 per cent rank sustainability among their top priorities when planning a trip, indicating that price, convenience, and other practical factors often outweigh environmental considerations.
“The message from travellers is clear: people want to make responsible choices, but those choices need to be simple and accessible. Sustainability will only scale when responsible options are seamlessly integrated into the travel experience,” said Holafly Brand Director, Daniela Prado.
In the report, Holafly, an eSIM provider, revealed new insights into how sustainability is shaping travel decisions worldwide with a clear hierarchy between intention and decision-making.
This gap between values and practical choices reflects a broader trend across the travel industry as travellers widely support sustainable tourism in principle, but translating those intentions into booking decisions remains complex.
In addition, Holafly stated in a statement that many travellers express the desire to reduce their environmental footprint, yet affordability, accessibility and overall travel experience still tend to shape final choices.
Holafly’s eSIM products contribute to more responsible travel by replacing traditional SIM cards, reducing emissions linked to production, packaging, and global distribution.
The company estimates that each eSIM prevents approximately 114.7 grammes of carbon dioxide (CO₂), with over 15 million eSIMs sold worldwide avoiding more than 1,700 tonnes of CO₂.
As the travel sector faces growing climate awareness, the challenge remains turning environmental values into practical, seamless choices that travellers can adopt without friction.
-- BERNAMA
Monday, 30 March 2026
UNIPART POSTS GBP991.6 MLN TURNOVER, STRONG 2025 RESULTS
KUALA LUMPUR, March 30 (Bernama) -- Unipart, the supply chain performance improvement partner, has reported a group turnover of GBP991.6 million and an underlying profit before interest and tax of GBP27.9 million in its full-year financial results for 2025. (GBP1 = RM5.31)
The company in a statement said it ended the year with a net cash surplus of GBP9.4 million, demonstrating robust operational efficiency and disciplined capital management.
Its Chief Executive Officer, Darren Leigh highlighted that the company strengthened its order book, achieved solid earnings and cash performance, and made significant progress executing The Unipart Way Forward strategy.
“In 2026, our focus on organic expansion, strategic partnerships, and ongoing investment in our people and technology, combined with our continued diversification, gives me confidence that we can navigate ongoing global supply chain instability and challenges.
“We are fully committed to delivering more efficient, resilient and sustainable supply chains for our customers, and long-term sustainable value for our shareholders,” he added.
The 2025 financial year marked a period of strategic transition and expansion under The Unipart Way Forward strategy, supported by customer growth, digital transformation investments, and a commitment to colleagues and sustainability.
Amid global supply chain challenges, Unipart leveraged its breadth of expertise to increase visibility, predictability, and mitigate disruption for its customers. The company expanded its services with existing clients, welcomed new customers, launched new solutions, and formed key industry partnerships.
Unipart reaffirmed its commitment to people, health, safety, and environmental, social, and governance (ESG) goals, receiving five stars in the British Safety Council audit for the 15th consecutive year, achieving upper quartile employee engagement, and hosting the Big Charity Challenge, which raised over GBP62,000 for more than 30 charities.
-- BERNAMA
The company in a statement said it ended the year with a net cash surplus of GBP9.4 million, demonstrating robust operational efficiency and disciplined capital management.
Its Chief Executive Officer, Darren Leigh highlighted that the company strengthened its order book, achieved solid earnings and cash performance, and made significant progress executing The Unipart Way Forward strategy.
“In 2026, our focus on organic expansion, strategic partnerships, and ongoing investment in our people and technology, combined with our continued diversification, gives me confidence that we can navigate ongoing global supply chain instability and challenges.
“We are fully committed to delivering more efficient, resilient and sustainable supply chains for our customers, and long-term sustainable value for our shareholders,” he added.
The 2025 financial year marked a period of strategic transition and expansion under The Unipart Way Forward strategy, supported by customer growth, digital transformation investments, and a commitment to colleagues and sustainability.
Amid global supply chain challenges, Unipart leveraged its breadth of expertise to increase visibility, predictability, and mitigate disruption for its customers. The company expanded its services with existing clients, welcomed new customers, launched new solutions, and formed key industry partnerships.
Unipart reaffirmed its commitment to people, health, safety, and environmental, social, and governance (ESG) goals, receiving five stars in the British Safety Council audit for the 15th consecutive year, achieving upper quartile employee engagement, and hosting the Big Charity Challenge, which raised over GBP62,000 for more than 30 charities.
-- BERNAMA
Sunday, 29 March 2026
Abaxx Futures Now Available Through TMX Trayport’s Joule Platform
LONDON and TORONTO, March 27 (Bernama-GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, together with TMX Trayport, a wholly owned subsidiary of TMX Group, today announced that Abaxx futures are now available for trading through TMX Trayport’s Joule platform.
TMX Trayport’s Joule platform now provides front-end access to Abaxx futures, enabling traders to view markets and execute orders directly within their existing trading environment.
Used by more than 9,800 traders globally across energy, commodities, and environmental markets, Joule integrates Abaxx futures alongside existing gas, power, and environmental contracts, supporting cross-market trading and hedging strategies within a single platform.
"Now that Abaxx’s commodity markets will be available within Trayport's trading screen, our customers will have an even broader set of tools to manage risk,” said Peter Conroy, CEO of TMX Global Insights (Trayport, Datalinx, VettaFi). “At a time of so much volatility and geo-political uncertainty within energy markets like LNG, providing clients with more ways to manage their exposure alongside the existing venues, demonstrates how Trayport supports customers through the power of aggregation.”
“Abaxx futures support price discovery and risk management,” said Shanmei Lim, Chief Markets Officer at Abaxx Exchange. “Availability within TMX Trayport’s Joule platform positions those contracts alongside other benchmarks where cross-market risk is actively managed.”
About TMX Trayport
TMX Trayport is a global software provider for the energy trading market. Headquartered in London and owned by TMX Group, the company develops the electronic platforms used by traders, brokers, and exchanges to facilitate the buying and selling of commodities.
The scale of the network is significant, supporting over 9,800 licensees, 390 trader firms, and 45 brokers and exchanges. Its core product, Joule, aggregates real-time price data for power, natural gas, and emissions onto a single screen.
In 2025, Trayport facilitated over 620 million trades across Europe, nearly 20 trades every second. Supported by 65+ third-party providers, Trayport provides the technical infrastructure that ensures transparency and connectivity across European, North American, and Asian energy markets.
For more information visit Trayport.com or contact us at sales@trayport.com
Contact Trayport
For more information, please contact:
Trayport
Fay Delavault
Head of Marketing and Communications
media@trayport.com
About Abaxx Technologies
Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.
In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.
Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.
Abaxx Spot modernizes physical gold trading through a physically-backed gold pool in Singapore. As the first instance of a co-located spot and futures market for gold, Abaxx Spot enables secure electronic transactions, efficient OTC transfers, and is designed to support physical delivery for Abaxx Exchange’s physically-deliverable gold futures contract, providing integrated infrastructure to deliver smarter gold markets.
Adaptive Infrastructure closes critical gaps in post-trade infrastructure by providing a unified custodial foundation across environmental markets and digital title assets. Incorporated in Barbados and regulated by the Financial Services Commission of Barbados, the company delivers institutional-grade custody, settlement, and transfer agency services designed to reduce risk and improve reliability across asset classes.
For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media
For more information about this press release, please contact:
Steve Fray, CFO
Tel: +1 647-490-1590
Media and investor inquiries:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 246 271 0082
E-mail: ir@abaxx.tech
Cautionary Statement Regarding Forward-Looking Information
This press release includes certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”, “should”, “would”, “could”, “target”, “purpose”, “goal”, “objective”, “ongoing”, “potential”, “likely” or the negative thereof or similar expressions.
In particular, this press release contains forward-looking statements including, without limitation, Abaxx’s objectives and future plans, the development and expansion of Abaxx’s market infrastructure and Abaxx’s role in the development of commodities and energy markets. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; changes in global weather patterns; changes in the price of commodities; capital market conditions; dilution; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic, financial, energy or commodity market deterioration impeding Abaxx’s operations, growth or access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: the failure of collateral use cases for Abaxx Digital Title to develop according to the expectations of Abaxx; Abaxx’s operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third- party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; restrictions on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management’s discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.
Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: Abaxx Technologies Inc.
--BERNAMA
TMX Trayport’s Joule platform now provides front-end access to Abaxx futures, enabling traders to view markets and execute orders directly within their existing trading environment.
Used by more than 9,800 traders globally across energy, commodities, and environmental markets, Joule integrates Abaxx futures alongside existing gas, power, and environmental contracts, supporting cross-market trading and hedging strategies within a single platform.
"Now that Abaxx’s commodity markets will be available within Trayport's trading screen, our customers will have an even broader set of tools to manage risk,” said Peter Conroy, CEO of TMX Global Insights (Trayport, Datalinx, VettaFi). “At a time of so much volatility and geo-political uncertainty within energy markets like LNG, providing clients with more ways to manage their exposure alongside the existing venues, demonstrates how Trayport supports customers through the power of aggregation.”
“Abaxx futures support price discovery and risk management,” said Shanmei Lim, Chief Markets Officer at Abaxx Exchange. “Availability within TMX Trayport’s Joule platform positions those contracts alongside other benchmarks where cross-market risk is actively managed.”
About TMX Trayport
TMX Trayport is a global software provider for the energy trading market. Headquartered in London and owned by TMX Group, the company develops the electronic platforms used by traders, brokers, and exchanges to facilitate the buying and selling of commodities.
The scale of the network is significant, supporting over 9,800 licensees, 390 trader firms, and 45 brokers and exchanges. Its core product, Joule, aggregates real-time price data for power, natural gas, and emissions onto a single screen.
In 2025, Trayport facilitated over 620 million trades across Europe, nearly 20 trades every second. Supported by 65+ third-party providers, Trayport provides the technical infrastructure that ensures transparency and connectivity across European, North American, and Asian energy markets.
For more information visit Trayport.com or contact us at sales@trayport.com
Contact Trayport
For more information, please contact:
Trayport
Fay Delavault
Head of Marketing and Communications
media@trayport.com
About Abaxx Technologies
Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.
In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.
Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.
Abaxx Spot modernizes physical gold trading through a physically-backed gold pool in Singapore. As the first instance of a co-located spot and futures market for gold, Abaxx Spot enables secure electronic transactions, efficient OTC transfers, and is designed to support physical delivery for Abaxx Exchange’s physically-deliverable gold futures contract, providing integrated infrastructure to deliver smarter gold markets.
Adaptive Infrastructure closes critical gaps in post-trade infrastructure by providing a unified custodial foundation across environmental markets and digital title assets. Incorporated in Barbados and regulated by the Financial Services Commission of Barbados, the company delivers institutional-grade custody, settlement, and transfer agency services designed to reduce risk and improve reliability across asset classes.
For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media
For more information about this press release, please contact:
Steve Fray, CFO
Tel: +1 647-490-1590
Media and investor inquiries:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 246 271 0082
E-mail: ir@abaxx.tech
Cautionary Statement Regarding Forward-Looking Information
This press release includes certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”, “should”, “would”, “could”, “target”, “purpose”, “goal”, “objective”, “ongoing”, “potential”, “likely” or the negative thereof or similar expressions.
In particular, this press release contains forward-looking statements including, without limitation, Abaxx’s objectives and future plans, the development and expansion of Abaxx’s market infrastructure and Abaxx’s role in the development of commodities and energy markets. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; changes in global weather patterns; changes in the price of commodities; capital market conditions; dilution; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic, financial, energy or commodity market deterioration impeding Abaxx’s operations, growth or access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: the failure of collateral use cases for Abaxx Digital Title to develop according to the expectations of Abaxx; Abaxx’s operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third- party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; restrictions on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management’s discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.
Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: Abaxx Technologies Inc.
--BERNAMA
Saturday, 28 March 2026
HKIA’s Proposed Capital Changes Could Boost Hong Kong’s Reinsurance Market - AM Best
KUALA LUMPUR, March 26 (Bernama) -- The Hong Kong Insurance Authority’s (HKIA) proposed changes to how non-life insurers’ required capital levels are evaluated for natural catastrophes, man-made risks, and offshore reinsurance could strengthen Hong Kong’s position as a global reinsurance and risk management hub, according to a new AM Best report.
The proposed refinements, outlined in a recently released HKIA consultation paper, follow the adoption of the Hong Kong risk-based capital regime on July 1, 2024.
AM Best views the changes as credit positive for the city’s non-life market, as domestic insurers would stand to benefit from improved capital efficiency with the potential to grow offshore business beyond Hong Kong’s competitive local market.
“By better aligning capital standards with local market characteristics and maintaining international prudential benchmarks, the HKIA is trying to balance the non-life segment’s sustainable development with policyholder protection,” said AM Best director, James Chan in a statement.
The HKIA proposals include scaling back several prescribed natural catastrophe risk factors and allowing greater diversification benefits among certain markets in the Greater China region.
Furthermore, eligible Hong Kong insurers or designated insurers belonging to non-Hong Kong insurance groups may apply to exclude offshore non-life reinsurance business from their prescribed capital calculations.
According to the Best’s Commentary, Hong Kong’s direct non-life market remains highly fragmented and competitive, comprising 86 pure non-life insurers as of September 2025.
Growth over the past five years has been subdued, in the low-to-mid single digits, constrained by economic headwinds and the broader slowdown in mainland China.
-- BERNAMA
AM BEST UPGRADES LONG-TERM ISSUER CREDIT RATING OF HANOI RE
KUALA LUMPUR, March 24 (Bernama) -- AM Best has upgraded Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) long-term issuer credit rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the financial strength rating (FSR) of B++ (Good) and the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional).
In a statement, the global credit rating agency said the outlook for the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR and the NSR is stable.
The credit ratings (ratings) reflect Hanoi Re’s strong balance sheet, strong operating performance, limited business profile, and appropriate enterprise risk management. The ratings also incorporate support from the company’s ultimate parent, HDI Haftpflichtverband der Deutschen Industrie V.a.G.
The Long-Term ICR upgrade reflects Hanoi Re’s strengthened balance sheet fundamentals. Risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, is expected to remain at the strongest level over the medium term.
Capital requirements have increased in fiscal year (FY) 2025 following strong business growth and higher investment risk, though the company’s capital adequacy remains robust, nonetheless.
The company’s investment portfolio is moderate risk, primarily cash and term deposits, supplemented by non-rated corporate bonds and affiliated private equity. High retrocession dependence offsets some strengths but is partly mitigated by a quality panel of retrocession counterparties.
Operating performance is strong, with a five-year average return on equity of 14.4 per cent (FY 2021 to FY2025). FY 2025 earnings improved due to favourable underwriting performance, loss reserve development, reduced management expenses, and premium rate increases. Investment income, mainly interest and dividends, remains a key contributor to overall earnings.
Hanoi Re is one of Vietnam’s two domestic reinsurers, with a significant portion of business sourced from its affiliated company, PVI Insurance Corporation. The company maintains moderate underwriting risk, including exposure to catastrophe-prone property and engineering lines, with potential losses partially mitigated through catastrophe retrocession.
-- BERNAMA
Newly Formed Cayman Islands’ GUNA Re Rated Excellent By AM Best
KUALA LUMPUR, March 25 (Bernama) -- AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to the Cayman Islands’ GUNA Re, with a stable outlook.
In a statement, AM Best said the credit ratings (ratings) reflect GUNA Re’s strong balance sheet, adequate operating performance, neutral business profile, and appropriate enterprise risk management.
GUNA Re was established in February 2026 as a single-parent captive for ITOCHU Corporation (ITOCHU), with plans to novate existing businesses from NEWGT Reinsurance Company Ltd, supporting the expansion of third-party business.
GUNA Re’s balance sheet strength assessment reflects the strongest level of projected risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which is based on the company’s business plan.
Although the company’s underwriting risks stemming from anticipated business expansion are likely to remain a predominantly capital consumption factor, AM Best notes that management intends to carefully monitor and control the pace of business expansion with appropriate capital management to maintain the company’s current level of risk-adjusted capitalisation.
The assessment is further supported by GUNA Re’s projected conservative investment strategies and low dependence on retrocession.
Its operating performance is expected to achieve profitable results, with low double-digit return-on-equity and favourable combined ratios over the next five years, supported by both third-party and ITOCHU-related captive business.
Overall, GUNA Re’s core business objective as a captive insurer and its several competitive advantages, including strict governance of the group, and cautious and selective underwriting management remain the same.
-- BERNAMA
Friday, 27 March 2026
HKIA’s Proposed Capital Changes Could Boost Hong Kong’s Reinsurance Market - AM Best
KUALA LUMPUR, March 26 (Bernama) -- The Hong Kong Insurance Authority’s (HKIA) proposed changes to how non-life insurers’ required capital levels are evaluated for natural catastrophes, man-made risks, and offshore reinsurance could strengthen Hong Kong’s position as a global reinsurance and risk management hub, according to a new AM Best report.
The proposed refinements, outlined in a recently released HKIA consultation paper, follow the adoption of the Hong Kong risk-based capital regime on July 1, 2024.
AM Best views the changes as credit positive for the city’s non-life market, as domestic insurers would stand to benefit from improved capital efficiency with the potential to grow offshore business beyond Hong Kong’s competitive local market.
“By better aligning capital standards with local market characteristics and maintaining international prudential benchmarks, the HKIA is trying to balance the non-life segment’s sustainable development with policyholder protection,” said AM Best director, James Chan in a statement.
The HKIA proposals include scaling back several prescribed natural catastrophe risk factors and allowing greater diversification benefits among certain markets in the Greater China region.
Furthermore, eligible Hong Kong insurers or designated insurers belonging to non-Hong Kong insurance groups may apply to exclude offshore non-life reinsurance business from their prescribed capital calculations.
According to the Best’s Commentary, Hong Kong’s direct non-life market remains highly fragmented and competitive, comprising 86 pure non-life insurers as of September 2025.
Growth over the past five years has been subdued, in the low-to-mid single digits, constrained by economic headwinds and the broader slowdown in mainland China.
-- BERNAMA
AM BEST AFFIRMS EXCELLENT RATINGS OF NAN SHAN GENERAL
KUALA LUMPUR, March 27 (Bernama) -- AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Taiwan’s Nan Shan General Insurance Co Ltd (Nan Shan General), with a stable outlook.
In a statement, AM Best said the credit ratings (ratings) reflect Nan Shan General’s very strong balance sheet strength, adequate operating performance, neutral business profile and appropriate enterprise risk management.
The company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, improved to the strongest level at year-end 2025, supported by consistent earnings growth and partial profit retention.
AM Best expects the insurer to maintain its balance sheet strength over the medium term, backed by an insurance risk profile characterised by personal lines and small- to medium-sized commercial accounts, prudent investments and a sound reinsurance programme.
Operating performance remained favourable in 2025, driven by improved underwriting results and stable investment income. Premium growth has exceeded the industry average for three consecutive years, mainly driven by expansion in the voluntary motor, travel and commercial lines.
The insurer’s personal lines segment, accounting for about 74 per cent of its portfolio, benefited from positive underwriting margins, while its net operating expense and combined ratios edged down to 37.2 per cent and 90.0 per cent, respectively, representing the lowest levels for both metrics over the last five-year period. Return on equity remained at a double-digit level.
Investment performance also strengthened, supported by capital gains in equities and stable interest income from bonds. The company is expected to maintain a focus on domestic fixed-income securities with moderate equity exposure.
Nan Shan General benefits from its parent, Nan Shan Life Insurance Co Ltd (Nan Shan Life) through brand recognition, distribution support and capital backing, despite its relatively modest business scale.
-- BERNAMA
In a statement, AM Best said the credit ratings (ratings) reflect Nan Shan General’s very strong balance sheet strength, adequate operating performance, neutral business profile and appropriate enterprise risk management.
The company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, improved to the strongest level at year-end 2025, supported by consistent earnings growth and partial profit retention.
AM Best expects the insurer to maintain its balance sheet strength over the medium term, backed by an insurance risk profile characterised by personal lines and small- to medium-sized commercial accounts, prudent investments and a sound reinsurance programme.
Operating performance remained favourable in 2025, driven by improved underwriting results and stable investment income. Premium growth has exceeded the industry average for three consecutive years, mainly driven by expansion in the voluntary motor, travel and commercial lines.
The insurer’s personal lines segment, accounting for about 74 per cent of its portfolio, benefited from positive underwriting margins, while its net operating expense and combined ratios edged down to 37.2 per cent and 90.0 per cent, respectively, representing the lowest levels for both metrics over the last five-year period. Return on equity remained at a double-digit level.
Investment performance also strengthened, supported by capital gains in equities and stable interest income from bonds. The company is expected to maintain a focus on domestic fixed-income securities with moderate equity exposure.
Nan Shan General benefits from its parent, Nan Shan Life Insurance Co Ltd (Nan Shan Life) through brand recognition, distribution support and capital backing, despite its relatively modest business scale.
-- BERNAMA
Wednesday, 25 March 2026
AM BEST AFFIRMS PANASIA RE RATINGS AT EXCELLENT LEVEL
KUALA LUMPUR, March 25 (Bernama) -- Global credit rating agency, AM Best has affirmed Hawaii’s PanAsia Reinsurance Inc (PanAsia Re) financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent), with a stable outlook.
The credit ratings (ratings) reflect PanAsia Re’s very strong balance sheet, adequate operating performance, limited business profile, and appropriate enterprise risk management. The assessment also incorporates both implicit and explicit support from its parent, Hikari Tsushin Inc (Hikari Tsushin).
PanAsia Re’s balance sheet strength is underpinned by projected risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio, supported by a significant capital injection from its parent in mid-2025, according to AM Best in a statement.
The company has demonstrated strong capital growth, expanding 102.9 per cent between fiscal year 2020 and fiscal year 2024, driven by profitable underwriting and capital infusion from the parent. Its low reliance on reinsurance and conservative investment strategy further support its capital position.
Operating performance is assessed as adequate, supported by consistent profitability with double-digit average return on equity and favourable combined ratios over the past five years.
The company’s small amount and short-term insurance (SASTI) segment, which forms the bulk of its portfolio, typically records low loss ratios, although commission expenses to its parent remain relatively high. PanAsia Re is pursuing gradual expansion of its SASTI business while exploring non-SASTI opportunities to diversify its premium base.
PanAsia Re operates under a captive licence, primarily reinsuring risks from affiliated entities, with selective third-party business subject to regulatory approval. Its business profile remains limited due to modest scale and concentration in Japan-originated personal property, health, and accident lines. The company’s risk management framework is closely integrated with that of its parent.
-- BERNAMA
The credit ratings (ratings) reflect PanAsia Re’s very strong balance sheet, adequate operating performance, limited business profile, and appropriate enterprise risk management. The assessment also incorporates both implicit and explicit support from its parent, Hikari Tsushin Inc (Hikari Tsushin).
PanAsia Re’s balance sheet strength is underpinned by projected risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio, supported by a significant capital injection from its parent in mid-2025, according to AM Best in a statement.
The company has demonstrated strong capital growth, expanding 102.9 per cent between fiscal year 2020 and fiscal year 2024, driven by profitable underwriting and capital infusion from the parent. Its low reliance on reinsurance and conservative investment strategy further support its capital position.
Operating performance is assessed as adequate, supported by consistent profitability with double-digit average return on equity and favourable combined ratios over the past five years.
The company’s small amount and short-term insurance (SASTI) segment, which forms the bulk of its portfolio, typically records low loss ratios, although commission expenses to its parent remain relatively high. PanAsia Re is pursuing gradual expansion of its SASTI business while exploring non-SASTI opportunities to diversify its premium base.
PanAsia Re operates under a captive licence, primarily reinsuring risks from affiliated entities, with selective third-party business subject to regulatory approval. Its business profile remains limited due to modest scale and concentration in Japan-originated personal property, health, and accident lines. The company’s risk management framework is closely integrated with that of its parent.
-- BERNAMA
HORIZON QUANTUM COMPLETES BUSINESS COMBINATION, LISTS ON NASDAQ
KUALA LUMPUR, March 25 (Bernama) -- Horizon Quantum Computing Pte Ltd (Horizon Quantum) has completed its business combination with dMY Squared Technology Group Inc (dMY), securing approximately US$120 million in gross proceeds and marking its public debut on the Nasdaq. (US$1=RM3.94)
In a statement, Horizon Quantum said the transaction, approved by dMY shareholders on March 17, will see the combined entity begin trading on March 20 under the ticker symbols “HQ” for shares and “HQWWW” for warrants.
Horizon Quantum develops software infrastructure designed to enable developers to leverage quantum computing for complex computational challenges. The proceeds from the transaction will be used to accelerate research and development, enhance its hardware testbed, and advance its integrated development environment, Triple Alpha.
“Recent rapid progress in quantum hardware and error correction signals an inflection point for the industry.
“With our Nasdaq listing, we are well-positioned to deliver the software infrastructure needed to power the next phase of computing and enable broad quantum advantage,” said Horizon Quantum Founder and Chief Executive Officer (CEO), Joe Fitzsimons.
Meanwhile, dMY Chairman and CEO, Harry You said Horizon Quantum’s hardware-agnostic approach positions it to benefit regardless of how quantum computing technologies evolve across competing modalities, including cloud-based systems.
Advisers to the transaction included Needham & Company LLC as exclusive financial adviser and placement agent, alongside legal counsel from Ellenoff Grossman & Schole LLP, Rajah & Tann Singapore LLP, and White & Case LLP, among others.
The listing underscores growing investor interest in quantum computing, as companies seek to commercialise software platforms capable of unlocking future computational capabilities.
-- BERNAMA
In a statement, Horizon Quantum said the transaction, approved by dMY shareholders on March 17, will see the combined entity begin trading on March 20 under the ticker symbols “HQ” for shares and “HQWWW” for warrants.
Horizon Quantum develops software infrastructure designed to enable developers to leverage quantum computing for complex computational challenges. The proceeds from the transaction will be used to accelerate research and development, enhance its hardware testbed, and advance its integrated development environment, Triple Alpha.
“Recent rapid progress in quantum hardware and error correction signals an inflection point for the industry.
“With our Nasdaq listing, we are well-positioned to deliver the software infrastructure needed to power the next phase of computing and enable broad quantum advantage,” said Horizon Quantum Founder and Chief Executive Officer (CEO), Joe Fitzsimons.
Meanwhile, dMY Chairman and CEO, Harry You said Horizon Quantum’s hardware-agnostic approach positions it to benefit regardless of how quantum computing technologies evolve across competing modalities, including cloud-based systems.
Advisers to the transaction included Needham & Company LLC as exclusive financial adviser and placement agent, alongside legal counsel from Ellenoff Grossman & Schole LLP, Rajah & Tann Singapore LLP, and White & Case LLP, among others.
The listing underscores growing investor interest in quantum computing, as companies seek to commercialise software platforms capable of unlocking future computational capabilities.
-- BERNAMA
Tuesday, 24 March 2026
AM BEST AFFIRMS PVI INSURANCE’S TOP-TIER RATINGS
KUALA LUMPUR, March 24 (Bernama) -- AM Best has affirmed the financial strength rating of A- (Excellent), the long-term issuer credit rating of “a-” (Excellent), and the Vietnam National Scale Rating of aaa.VN (Exceptional) for PVI Insurance Corporation (PVI Insurance), with a stable outlook.
The credit ratings (ratings) reflect PVI Insurance’s very strong balance sheet, strong operating performance, neutral business profile, and appropriate enterprise risk management. The affirmation also factors in rating support from its ultimate parent, HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.).
The global credit rating agency said in a statement that PVI Insurance’s balance sheet strength is supported by its risk-adjusted capitalisation, measured via Best’s Capital Adequacy Ratio, which is expected to remain at the strongest level over the medium term.
The company benefits from financial flexibility as a majority-owned subsidiary of HDI V.a.G. Its investment portfolio is considered moderate risk, primarily in cash and term deposits, supplemented by non-rated corporate bonds, affiliated private equity, and real estate.
Offsetting factors include a high dividend payout ratio and reliance on reinsurance for underwriting large commercial property, engineering, and energy risks.
Operating performance is strong, supported by a five-year average return on equity ratio of 16.7 per cent from fiscal year (FY) 2021 to FY 2025. FY 2025 earnings improved due to favourable loss experience and reserve development following Typhoon Yagi.
Profitable results in both commercial and retail lines, combined with stable investment income from interest and dividends, are expected to continue driving overall earnings.
PVI Insurance’s business profile is assessed as neutral. It remains Vietnam’s largest non-life insurer based on 2024 and nine months of 2025 direct premiums written. The company holds strong positions in commercial and industrial lines, including energy, property, engineering, aviation, and marine insurance.
Support from HDI V.a.G. has enhanced technical expertise and service offerings, strengthening PVI Insurance’s regional position in industrial risk coverage. Recent growth has been driven by expansion in inwards reinsurance, while prudent accumulation management continues to be monitored.
-- BERNAMA
The credit ratings (ratings) reflect PVI Insurance’s very strong balance sheet, strong operating performance, neutral business profile, and appropriate enterprise risk management. The affirmation also factors in rating support from its ultimate parent, HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.).
The global credit rating agency said in a statement that PVI Insurance’s balance sheet strength is supported by its risk-adjusted capitalisation, measured via Best’s Capital Adequacy Ratio, which is expected to remain at the strongest level over the medium term.
The company benefits from financial flexibility as a majority-owned subsidiary of HDI V.a.G. Its investment portfolio is considered moderate risk, primarily in cash and term deposits, supplemented by non-rated corporate bonds, affiliated private equity, and real estate.
Offsetting factors include a high dividend payout ratio and reliance on reinsurance for underwriting large commercial property, engineering, and energy risks.
Operating performance is strong, supported by a five-year average return on equity ratio of 16.7 per cent from fiscal year (FY) 2021 to FY 2025. FY 2025 earnings improved due to favourable loss experience and reserve development following Typhoon Yagi.
Profitable results in both commercial and retail lines, combined with stable investment income from interest and dividends, are expected to continue driving overall earnings.
PVI Insurance’s business profile is assessed as neutral. It remains Vietnam’s largest non-life insurer based on 2024 and nine months of 2025 direct premiums written. The company holds strong positions in commercial and industrial lines, including energy, property, engineering, aviation, and marine insurance.
Support from HDI V.a.G. has enhanced technical expertise and service offerings, strengthening PVI Insurance’s regional position in industrial risk coverage. Recent growth has been driven by expansion in inwards reinsurance, while prudent accumulation management continues to be monitored.
-- BERNAMA
CHINA TAIPING INSURANCE (MACAU) AFFIRMED EXCELLENT RATINGS BY AM BEST
KUALA LUMPUR, March 24 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of China Taiping Insurance (Macau) Company Limited (CTIM), with a stable outlook.
The credit ratings (ratings) reflect CTIM’s very strong balance sheet, strong operating performance, neutral business profile, and appropriate enterprise risk management, according to AM Best in a statement.
CTIM’s risk-adjusted capitalisation, measured by Best’s Capital Adequacy Ratio, remains at the strongest level. The insurer reported robust capital and surplus growth, reaching 1.053 billion Macanese pataca (US$132 million) in 2025 based on unaudited figures. (US$1=RM3.92)
Its conservative investment strategy—focused on cash and investment-grade bonds—alongside a comprehensive reinsurance programme with high-quality counterparties, continues to support its financial position, although moderate reliance on reinsurance partially offsets these strengths.
Operating performance has remained solid, with a five-year average return on equity of 17.8 per cent from 2021 to 2025. Underwriting results have outperformed industry averages, while stable investment income has supported earnings.
In 2025, the net combined ratio improved, driven primarily by lower loss ratios in motor and employees’ compensation segments.
Investment returns have remained consistent at mid-single-digit levels over the past two years and are expected to continue contributing stable income streams from interest, dividends, and rental sources.
CTIM retains a leading position in Macau’s non-life insurance market, holding an estimated 34 per cent share based on gross premiums written in 2025. Its diversified underwriting portfolio and distribution channels, including expanding digital platforms and cross-selling initiatives with affiliates of China Taiping Insurance Group Ltd, underpin its market strength.
-- BERNAMA
The credit ratings (ratings) reflect CTIM’s very strong balance sheet, strong operating performance, neutral business profile, and appropriate enterprise risk management, according to AM Best in a statement.
CTIM’s risk-adjusted capitalisation, measured by Best’s Capital Adequacy Ratio, remains at the strongest level. The insurer reported robust capital and surplus growth, reaching 1.053 billion Macanese pataca (US$132 million) in 2025 based on unaudited figures. (US$1=RM3.92)
Its conservative investment strategy—focused on cash and investment-grade bonds—alongside a comprehensive reinsurance programme with high-quality counterparties, continues to support its financial position, although moderate reliance on reinsurance partially offsets these strengths.
Operating performance has remained solid, with a five-year average return on equity of 17.8 per cent from 2021 to 2025. Underwriting results have outperformed industry averages, while stable investment income has supported earnings.
In 2025, the net combined ratio improved, driven primarily by lower loss ratios in motor and employees’ compensation segments.
Investment returns have remained consistent at mid-single-digit levels over the past two years and are expected to continue contributing stable income streams from interest, dividends, and rental sources.
CTIM retains a leading position in Macau’s non-life insurance market, holding an estimated 34 per cent share based on gross premiums written in 2025. Its diversified underwriting portfolio and distribution channels, including expanding digital platforms and cross-selling initiatives with affiliates of China Taiping Insurance Group Ltd, underpin its market strength.
-- BERNAMA
DMITRY SHUBOV: AI LOCK-IN RISK RISES FOR SOUTHEAST ASIA LEGAL-TECH
KUALA LUMPUR, March 24 (Bernama) -- Southeast Asian legal-tech startups targeting United States (US) expansion face mounting compliance and commercial risks as governments and enterprise buyers increasingly favour region-specific artificial intelligence (AI) platforms, in line with projections from Gartner.
“As suggested by Gartner’s findings, decisions about platforms require careful consideration. Founders who treat AI-platform and data-residency decisions as investor-grade deliverables will encounter fewer surprises when entering the US market,” said Dmitry Shubov Consulting Founder and Chief Executive Officer, Dmitry Shubov in a statement.
Platform lock-in—driven by sovereign cloud frameworks and country-specific AI ecosystems—is expected to surge from five per cent to 35 per cent by 2027, complicating cross-border deployment strategies.
Founders pursuing US-based pilots, enterprise contracts, or fundraising must now account for stricter data residency, processing, and transfer requirements.
Governments and large buyers are increasingly mandating the use of approved local platforms, limiting cross-border data movement and introducing new operational constraints.
While regional large language models (LLMs) may offer advantages in regulatory alignment and multilingual capability, deploying across multiple jurisdictions can create friction for US customers and investors.
The shift is also raising due diligence standards. US stakeholders now expect investor-grade transparency, including auditable data flow diagrams, clear subprocessor disclosures, and legally compliant transfer mechanisms such as standard contractual clauses (SCCs) or binding corporate rules (BCRs).
These evolving requirements have direct commercial implications. Startups that proactively structure data governance frameworks and residency strategies can accelerate procurement cycles, reduce transaction risk, and improve valuation outcomes by addressing investor concerns early.
Dmitry Shubov Consulting advises Southeast Asian legal-tech firms on translating region-specific AI and cloud risks into investor-ready frameworks, including data mapping, contractual playbooks, and US go-to-market strategies.
-- BERNAMA
“As suggested by Gartner’s findings, decisions about platforms require careful consideration. Founders who treat AI-platform and data-residency decisions as investor-grade deliverables will encounter fewer surprises when entering the US market,” said Dmitry Shubov Consulting Founder and Chief Executive Officer, Dmitry Shubov in a statement.
Platform lock-in—driven by sovereign cloud frameworks and country-specific AI ecosystems—is expected to surge from five per cent to 35 per cent by 2027, complicating cross-border deployment strategies.
Founders pursuing US-based pilots, enterprise contracts, or fundraising must now account for stricter data residency, processing, and transfer requirements.
Governments and large buyers are increasingly mandating the use of approved local platforms, limiting cross-border data movement and introducing new operational constraints.
While regional large language models (LLMs) may offer advantages in regulatory alignment and multilingual capability, deploying across multiple jurisdictions can create friction for US customers and investors.
The shift is also raising due diligence standards. US stakeholders now expect investor-grade transparency, including auditable data flow diagrams, clear subprocessor disclosures, and legally compliant transfer mechanisms such as standard contractual clauses (SCCs) or binding corporate rules (BCRs).
These evolving requirements have direct commercial implications. Startups that proactively structure data governance frameworks and residency strategies can accelerate procurement cycles, reduce transaction risk, and improve valuation outcomes by addressing investor concerns early.
Dmitry Shubov Consulting advises Southeast Asian legal-tech firms on translating region-specific AI and cloud risks into investor-ready frameworks, including data mapping, contractual playbooks, and US go-to-market strategies.
-- BERNAMA
Thursday, 19 March 2026
MITSUBISHI ELECTRIC SECURES MAJOR ORDER FOR TWO SUDIRMAN JAKARTA
KUALA LUMPUR, March 19 (Bernama) -- Mitsubishi Electric Corporation has announced that two of its Indonesian subsidiaries have secured a major order to supply 66 elevators, 30 escalators, 404 air-conditioning units, and 38 hand dryers for Two Sudirman Jakarta.
The subsidiaries involved are PT Mitsubishi Jaya Elevator and Escalator, responsible for manufacturing, selling, installing, and servicing the elevators and escalators, and PT Mitsubishi Electric Indonesia, which handles the air-conditioning systems.
The high-quality equipment is expected to enhance the luxury and comfort of the complex, according to a statement.
Two Sudirman Jakarta is a huge mixed-use urban space scheduled to open in the heart of Jakarta at the end of 2028.
The order reflects Mitsubishi Electric’s strong reputation in Indonesia for delivering reliable elevators, escalators, and related services.
The proposal to supply Two Sudirman Jakarta with the air-conditioning units was supported by Mitsubishi Electric’s extensive product lineup and the close cooperation between its group companies.
By providing advanced and dependable solutions, Mitsubishi Electric aims to contribute to safer, more secure, and comfortable urban environments in Indonesia.
-- BERNAMA
The subsidiaries involved are PT Mitsubishi Jaya Elevator and Escalator, responsible for manufacturing, selling, installing, and servicing the elevators and escalators, and PT Mitsubishi Electric Indonesia, which handles the air-conditioning systems.
The high-quality equipment is expected to enhance the luxury and comfort of the complex, according to a statement.
Two Sudirman Jakarta is a huge mixed-use urban space scheduled to open in the heart of Jakarta at the end of 2028.
The order reflects Mitsubishi Electric’s strong reputation in Indonesia for delivering reliable elevators, escalators, and related services.
The proposal to supply Two Sudirman Jakarta with the air-conditioning units was supported by Mitsubishi Electric’s extensive product lineup and the close cooperation between its group companies.
By providing advanced and dependable solutions, Mitsubishi Electric aims to contribute to safer, more secure, and comfortable urban environments in Indonesia.
-- BERNAMA
ABAXX SINGAPORE JOINS SBMA, BOOSTS PHYSICAL GOLD TRADING
KUALA LUMPUR, March 19 (Bernama) -- Abaxx Technologies Inc (Abaxx), a financial software and market infrastructure company, announced its subsidiary, Abaxx Singapore Pte Ltd (Abaxx Singapore), has been accepted as a Local Associate Member of the Singapore Bullion Market Association (SBMA).
“Abaxx has anchored its integrated precious metals market infrastructure in Singapore to align with Asia’s physical trade.
“That approach is consistent with the direction SBMA has set for the next phase of market development, and we look forward to contributing to smarter precious metals markets,” said Abaxx Exchange Chief Executive Officer (CEO), Nancy Seah in a statement.
Meanwhile, SBMA CEO, Albert Cheng welcomed Abaxx Exchange, calling the newly launched Abaxx Gold Singapore futures contract a timely addition to Asia’s gold market infrastructure.
Cheng highlighted that the contract seeks to establish a Singapore-based, kilobar-native, physically deliverable benchmark, supported by modernised title and transfer mechanisms.
The SBMA is a non-profit, member-driven industry body that represents key participants across the precious metals value chain, underpinning Singapore’s position as a regional hub for physical gold trading and custody across the Asia-Pacific.
This membership highlights Abaxx’s increasing involvement in the physical gold market, coinciding with growing participation in the Abaxx Exchange’s kilobar futures contract, deliverable into Singapore.
Abaxx is leveraging its co-located spot and futures infrastructure to establish a direct access point for the kilobar market, enabling the next phase of market expansion as the region solidifies its role in global gold trading.
In a recent pilot, the company demonstrated the mobilisation of physical gold as collateral within existing market structures, enabling T+0 ownership transfer to support financing against vaulted inventory.
The transaction illustrates how Abaxx Digital Title can be applied to vaulted gold to address inefficiencies in a US$47 billion segment of gold trade finance, aligning with SBMA’s focus on deepening Singapore’s leadership in bullion services. (US$1=RM3.93)
-- BERNAMA
“Abaxx has anchored its integrated precious metals market infrastructure in Singapore to align with Asia’s physical trade.
“That approach is consistent with the direction SBMA has set for the next phase of market development, and we look forward to contributing to smarter precious metals markets,” said Abaxx Exchange Chief Executive Officer (CEO), Nancy Seah in a statement.
Meanwhile, SBMA CEO, Albert Cheng welcomed Abaxx Exchange, calling the newly launched Abaxx Gold Singapore futures contract a timely addition to Asia’s gold market infrastructure.
Cheng highlighted that the contract seeks to establish a Singapore-based, kilobar-native, physically deliverable benchmark, supported by modernised title and transfer mechanisms.
The SBMA is a non-profit, member-driven industry body that represents key participants across the precious metals value chain, underpinning Singapore’s position as a regional hub for physical gold trading and custody across the Asia-Pacific.
This membership highlights Abaxx’s increasing involvement in the physical gold market, coinciding with growing participation in the Abaxx Exchange’s kilobar futures contract, deliverable into Singapore.
Abaxx is leveraging its co-located spot and futures infrastructure to establish a direct access point for the kilobar market, enabling the next phase of market expansion as the region solidifies its role in global gold trading.
In a recent pilot, the company demonstrated the mobilisation of physical gold as collateral within existing market structures, enabling T+0 ownership transfer to support financing against vaulted inventory.
The transaction illustrates how Abaxx Digital Title can be applied to vaulted gold to address inefficiencies in a US$47 billion segment of gold trade finance, aligning with SBMA’s focus on deepening Singapore’s leadership in bullion services. (US$1=RM3.93)
-- BERNAMA
Healthcare technology research company, KLAS Research, reports 100% of surveyed customers would buy Vectramind Health’s Firstpass platform again
Dubai, UAE, Mar.18, 2026 /AgilityPr - AsiaNet / -- Vectramind Health today announced that its’ AI-native patient experience and engagement platform, Firstpass, has received strong validation in a newly released KLAS First Look report highlighting high levels of customer satisfaction and measurable improvements in patient engagement and operational efficiency.
The findings, published in the KLAS Research report ‘ Vectramind Firstpass Unified Patient Experience & Engagement Platform 2026’ , show that 100% of surveyed customers said they would buy Firstpass again and consider the platform part of their long-term plans. Healthcare organizations also reported increased patient engagement, improved patient flow, reduced no-show rates, and reduced waiting times.
The KLAS Research findings, which are based on a small sample of customers, also highlight strong customer confidence in Vectramind Health as a strategic partner, with customers citing the company’s integration expertise, responsiveness, and collaborative approach to supporting healthcare organizations.
Healthcare leaders interviewed by KLAS highlighted the partnership and expertise provided by Vectramind Health:
“Vectramind Health has a great sales team that is consistently engaged with us. They don't treat us as their customer; they treat us more as their partner. They are very engaged to see how we are consistently growing and seeing improvements” and “In terms of patient engagement, we have been able to improve our no-show rate without even integrating the system with our EHR. In terms of patients engaging with clinics and not just the call center, we have also seen an increase without EHR integration. Those were desired outcomes that we have been able to realize.” - Directors, interviewed by KLAS Research
Firstpass is an AI-native, unified patient experience and engagement platform designed to help healthcare organizations orchestrate the entire patient journey. By connecting communication, workflow orchestration, and real-time patient journey management across the care continuum, Firstpass enables providers to engage patients before, during, and after care while reducing administrative burden for staff and improving operational efficiency.
“Healthcare organizations everywhere are working to improve access, reduce operational friction, and deliver a better patient experience,” said Dr. Murali Krishna Vakalapudi, Founder and CEO of Vectramind Group. “The feedback reflected in this KLAS Research report is especially meaningful because it comes directly from healthcare leaders using Firstpass to transform patient engagement and operational workflows. Our mission is to help providers eliminate fragmented care journeys and make person-centered care operationally sustainable at scale.”
KLAS First Look reports provide early insights into emerging healthcare solutions based on direct feedback from customers who have implemented the technology. These reports offer healthcare leaders a transparent view of how solutions are performing in real-world environments.
Vectramind Health continues to expand adoption of the Firstpass platform among hospitals, health systems, and specialty healthcare organizations seeking to improve patient engagement while optimizing operational workflows and care delivery.
About Vectramind Health
Vectramind Health is a healthcare technology company focused on advancing patient access, engagement, and experience across the healthcare journey. Its’ unified platform, Firstpass, enables healthcare organizations to streamline patient access, reduce operational friction, and connect fragmented non-clinical workflows across the care continuum. By bringing together digital access, communication, and experience insights into a single operational platform, Vectramind Health helps providers create more seamless patient journeys and deliver scalable, person-centered care.
About KLAS Research
KLAS is a research and insights firm on a global mission to improve healthcare delivery by amplifying the provider's voice. Working with thousands of healthcare professionals and clinicians, KLAS gathers data and insights on software, services, and medical equipment to deliver timely reports, trends and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. Follow KLAS on Twitter and LinkedIn. Learn more at klasresearch.com.
Media Contact
Vectramind Health
press@vectramind.com
Source: Vectramind Health
--BERNAMA
Wednesday, 18 March 2026
AM BEST ASSIGNS RATINGS TO STRONGHOLD INSURANCE IN PHILIPPINES
KUALA LUMPUR, March 18 (Bernama) -- Global credit rating agency, AM Best has assigned a financial strength rating of B (Fair), a long-term issuer credit rating of “bb” (Fair) and a Philippines National Scale Rating of a.PH (Excellent) to Stronghold Insurance Company Inc (Stronghold).
In a statement, AM Best said the outlook assigned to these credit ratings (ratings) is stable.
The ratings reflect Stronghold’s strong balance sheet strength, adequate operating performance, limited business profile and marginal enterprise risk management.
The company’s risk-adjusted capitalisation, measured by Best’s Capital Adequacy Ratio, is expected to remain at least strong over the medium term. Stronghold’s investment portfolio is low-to-moderate risk, with the majority allocated to cash, deposits, and Philippine government bonds, supported by a reinsurance programme of generally good credit quality.
Operating performance remains adequate, with a five-year average return on equity of 5.7 per cent (fiscal years 2020 to 2024). The company has shown marginal improvement in combined ratios, supported by steady business growth and generally benign loss experience.
In addition, investment income, primarily from interest and rental returns, remains stable and contributes positively to overall earnings, with 2025 operating results staying in positive territory due to consistent underwriting and investment performance.
Stronghold is among the top 10 non-life insurers in the Philippines, with approximately four per cent market share. Key business lines include fire, surety and motor insurance, with premium growth driven in part by large fire policies.
AM Best notes that certain risk exposures, particularly to natural catastrophes such as typhoons and floods, exceed current risk management capabilities, though improvements are expected over time.
-- BERNAMA
In a statement, AM Best said the outlook assigned to these credit ratings (ratings) is stable.
The ratings reflect Stronghold’s strong balance sheet strength, adequate operating performance, limited business profile and marginal enterprise risk management.
The company’s risk-adjusted capitalisation, measured by Best’s Capital Adequacy Ratio, is expected to remain at least strong over the medium term. Stronghold’s investment portfolio is low-to-moderate risk, with the majority allocated to cash, deposits, and Philippine government bonds, supported by a reinsurance programme of generally good credit quality.
Operating performance remains adequate, with a five-year average return on equity of 5.7 per cent (fiscal years 2020 to 2024). The company has shown marginal improvement in combined ratios, supported by steady business growth and generally benign loss experience.
In addition, investment income, primarily from interest and rental returns, remains stable and contributes positively to overall earnings, with 2025 operating results staying in positive territory due to consistent underwriting and investment performance.
Stronghold is among the top 10 non-life insurers in the Philippines, with approximately four per cent market share. Key business lines include fire, surety and motor insurance, with premium growth driven in part by large fire policies.
AM Best notes that certain risk exposures, particularly to natural catastrophes such as typhoons and floods, exceed current risk management capabilities, though improvements are expected over time.
-- BERNAMA
OXFORD NANOPORE PARTNERS A.D.A.M. INNOVATIONS TO ADVANCE GENOMIC SEQUENCING IN JAPAN
 |
| From left to right: Dr. Iri Sato Baran, Genesis Healthcare (A.D.A.M Innovations), Vice Chair of the Board Ambassador Julia Longbottom, British Embassy Foreign, Commonwealth and Development Office Michel Mommejat, Genesis Healthcare (A.D.A.M Innovations), CEO and Executive Director Gretchen Weightman, Oxford Nanopore Technologies, Senior Vice President Commercial and General Manager APAC, Dr. Toshiharu Furukawa, LDP, Chair of Medical Information Policy and Genomic Medicine, House of Councillors, Hirokazu Shimoda, Japan Agency for Medical Research and Development, Senior Director |
KUALA LUMPUR, March 18 (Bernama) -- Oxford Nanopore Technologies and A.D.A.M. Innovations (Japanese corporate name Genesis Healthcare Co) announced an international collaboration to accelerate advanced genomic sequencing and medicine applications in Japan.
The partnership aims to develop and deploy comprehensive nanopore sequencing technology across the Japanese genetic testing market, according to Oxford Nanopore in a statement.
Oxford Nanopore Technologies, Vice President Commercial and General Manager APAC, Gretchen Weightman commented that the joint force will help bring rapid, scalable sequencing directly into clinical pathways and strengthen scientific ties between the United Kingdom (UK) and Japan.
Meanwhile, A.D.A.M. Innovations President, Michel Mommejat noted that Oxford Nanopore’s innovative platform opens new possibilities for clinical genomics in Japan and is intended to enhance diagnostic capability and advance the nation’s genomic precision medicine.
The initial phase will establish Oxford Nanopore’s information-rich, real-time sequencing technology within A.D.A.M. Innovations’ advanced genetic testing portfolio. This integration is expected to enable rapid and precise genomic testing across multiple disease areas.
The long-term goal is to introduce new clinical workflows validated under Japan-specific standards, supporting scalable sequencing of DNA fragments of any length. Sequencing that captures complete genomic information is poised to expand testing accuracy beyond existing technologies.
A memorandum of understanding was signed at the British Embassy in Tokyo, in an event supported by His Majesty’s Ambassador to Japan, Julia Longbottom.
The initiative aligns with the UK-Japan Health Memorandum of Cooperation and reflects a broader increase in bilateral life sciences collaboration, strengthening industrial cooperation and accelerating translational research for patient benefit.
-- BERNAMA
Cushman & Wakefield Appoints Victoria Lake As CFO For APAC, EMEA
KUALA LUMPUR, March 17 (Bernama) -- Cushman & Wakefield, a global real estate services firm, has appointed Victoria Lake as Chief Financial Officer (CFO) for Asia Pacific (APAC) and Europe, the Middle East, and Africa (EMEA).
Based in London, Lake will oversee all finance functions across both regions, working closely with regional leadership and global teams to drive growth and profitability.
Cushman & Wakefield Global CFO, Neil Johnston said Lake’s appointment would support the continued evolution of the firm’s finance capabilities.
In a statement, he highlighted her track record in leading finance transformation initiatives that enhance decision-making and deliver profitable growth.
Meanwhile, its Chief Executive for APAC & EMEA, Matthew Bouw said Lake’s expertise would accelerate the company’s transition into a more integrated and digitally enabled platform, including the use of artificial intelligence and advanced analytics to boost productivity and expand client solutions.
Lake joins from Accenture, where she served as Deputy CFO for its EMEA business. During her tenure, she held several leadership roles, including Managing Director in corporate development, overseeing mergers and acquisitions, including deals involving sustainability-focused companies.
She began her career at Deloitte and has extensive experience across audit, advisory, financial reporting, strategic planning and client transactions.
Commenting on her appointment, Lake said the company aligns with her focus on leveraging data to drive innovation and improved outcomes, adding that she looks forward to contributing to its next phase of growth.
-- BERNAMA
Tuesday, 17 March 2026
HELICAL FUSION ANNOUNCES HELIX HARUKA PHASE 1 SITE
KUALA LUMPUR, March 17 (Bernama) -- Helical Fusion Co Ltd, a Japanese fusion energy company, has announced the construction site for Phase 1 of Helix HARUKA, its Integrated Demonstration Device.
Phase 1, focused on magnet demonstration, will be built in a dedicated workspace for the joint research group formed by Helical Fusion and the National Institute for Fusion Science (NIFS), located on the NIFS campus. The company has already begun manufacturing preparations and site development.
The initiative underscores Helical Fusion’s role in leading a “Japan-style public–private partnership (PPP)” for fusion commercialisation, combining NIFS’s research capabilities with private-sector system integration and industrial manufacturing expertise to accelerate development, according to a statement.
In Phase 1, the company will assemble a non-planar helical high-temperature superconducting (HTS) magnet and conduct current tests to validate its performance under expected operating conditions. The magnet is considered a critical component in magnetic-confinement fusion, influencing system performance, reliability and cost.
Meanwhile, in Phase 2, Helical Fusion plans to carry out an integrated demonstration of key enabling technologies, including the HTS magnet and blanket/divertor systems. The phase will also aim to demonstrate sustained high-temperature plasma operation, a milestone required to support future steady-state power plant operations.
The programme is intended to establish technical confidence for the company’s first power-generating unit, Helix KANATA, which is designed to achieve practical power generation, including steady-state and net-electric operation.
Since 2024, Helical Fusion and NIFS have operated under a formal joint research framework, collaborating on key technologies including HTS magnet systems and blanket/divertor systems.
By locating Phase 1 at the dedicated joint workspace on the NIFS campus, Helical Fusion will more tightly connect research and hardware buildout to accelerate engineering integration.
-- BERNAMA
Monday, 16 March 2026
OXMIQ Labs and AM Intelligence Labs Partner to Architect One of the World’s Largest Renewable-Powered AI Compute Platforms
OXMIQ and AM Intelligence Labs are building one of the world's largest renewable-powered AI compute platforms - 2 Gigawatts by 2030, Phase 1 online in Noida, India by 2027.
Optimizing from photons to outcomes. Powered by 100% renewable energy.
CAMPBELL, Calif. and HYDERABAD, India, March 16 (Bernama-BUSINESS WIRE) -- OXMIQ Labs (“OXMIQ”), the GPU architecture and AI technology company founded by Raja Koduri, today announced a strategic technology partnership with AM Intelligence Labs, a business division of AM Group, to provide data center and system infrastructure advisory for AM Intelligence Labs' 2 GW AI Compute Capability by 2030 with initial 1 GW AI Compute Hub in Uttar Pradesh, India.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260315355703/en/
AM Intelligence Labs is a strategic business division of AM Group, parent of Greenko, India's largest green energy producer with 50 GW of renewable capacity across solar, wind, and hydro, backed by 100 GWh of intelligent energy storage and supplying approximately 2% of India's total power. Energy is owned, operated, and carbon-free priced at 50–70% below conventional data center power costs.
India is a rapidly changing center of demand in the global AI economy. Driven by its massive developer ecosystem, digital economy, and rapidly expanding enterprise adoption of AI, the country is emerging as the world's second-largest market for AI usage and token consumption.
AM Group has commenced development of its flagship AI infrastructure initiative, with Phase 1 of the Noida Compute Hub now in active execution. Bringing the initial compute capacity online by the end of 2027 will be a key milestone as the Group builds one of the world’s largest renewable-powered AI compute platforms. OXMIQ is working closely with AM Group to optimize system architecture, infrastructure design, and modular execution delivery to ensure the platform is deployed at speed while achieving best-in-class efficiency and scale.
Under the partnership, OXMIQ will serve as the architecture and engineering partner for the compute platform, working with AM Intelligence Labs to design the systems architecture, hardware roadmap, and supply chain strategy that will underpin the facility. OXMIQ brings deep expertise spanning the entire compute stack, from transistor-level GPU architecture and advanced packaging through rack-scale systems, high-performance interconnects, and the orchestration software required to operate AI workloads at massive scale. Together, the partnership delivers end-to-end optimization from photons to outcomes, ultimately making zettascale economics accessible to everyone.
AM Group is developing the 1 GW AI High Performance Compute Hub in Noida as a fully vertically integrated platform spanning owned carbon-free power generation, advanced data center infrastructure, high-performance accelerators, a complete software stack, applications, and flexible consumption models ranging from AI Pods-as-a-Service to Tokens-as-a-Service.
OXMIQ's deep expertise across the compute stack enables the platform to be architected for end-to-end optimization from photons to tokens. Every layer, from renewable energy generation through data center architecture, liquid cooling, interconnect topology, accelerator selection, and workload orchestration, will be engineered as a unified system. This integrated approach unlocks industry-leading electrons-to-tokens economics, delivering dramatically lower-cost AI compute at gigawatt scale.
Leadership Perspectives
"AM Intelligence Labs is the ideal partner for OXMIQ. They have solved the hardest constraint in large-scale AI infrastructure: access to reliable, carbon-free power at global scale. Our team has spent decades building silicon, systems, and software that power the world’s most advanced computing platforms. Bringing that expertise into AM Intelligence Labs’ infrastructure from the first architectural decisions means every rack, every interconnect, every storage and cooling system is designed around the workloads and economics required for the AI era."
— Raja Koduri, Founder and CEO, OXMIQ Labs
“OXMIQ gives AM Intelligence Labs access to some of the deepest hardware and systems expertise in the industry. Their team’s experience across leading Silicon Valley companies is exactly what we need to architect infrastructure that can compete globally. Together we are laying the foundation for AM Intelligence Labs to become a full-stack AI compute platform.”
— Anil Chalamalasetty, Group Chairman, AM Group
About OXMIQ Labs
OXMIQ Labs, headquartered in Campbell, California, is a GPU architecture and AI technology company founded by Raja Koduri, whose career spans leadership at Apple, AMD, Intel, and ATI Technologies. OXMIQ delivers licensable chiplet-based AI hardware and software solutions built for the age of inference. OxCapsule and OxPython deliver immediate optimization across heterogeneous hardware, while OxCore and OxQuilt provide the chiplet-native roadmap to zettascale efficiency. For more information: www.oxmiq.ai
Forward Looking Statements: This press release contains forward looking statements subject to risks and uncertainties. Actual results may differ materially. Specific projects and deployments will be subject to definitive agreements.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20260315355703/en/
Contact
Media Contacts:
OXMIQ Labs: press@oxmiq.ai
Source : Oxmiq Labs Inc.
AM Best Affirms Credit Ratings of KBFG Insurance (China) Co., Ltd.
HONG KONG, March 16 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of KBFG Insurance (China) Co., Ltd. (KBFG China) (China). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect KBFG China’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also reflect the wide range of support that the company receives from its parent, KB Insurance Co., Ltd., in areas including underwriting and pricing, business development, reinsurance and risk management.
KBFG China’s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s consolidated capital and surplus have continued to increase, backed by positive operating performance with full profit retention. KBFG China maintains a low underwriting leverage, limited net exposure to large commercial accounts and a conservative investment appetite. The company has in place a comprehensive reinsurance programme with a panel of financially sound reinsurers. KBFG China’s statutory core solvency ratio improved from 501% in 2024 to 671% at year-end 2025, owing to the complete settlement of sizeable reinsurance recoverables as planned.
KBFG China has reported positive operating profit over the last five years (2021 to 2025), with low-to-mid-single digit return-on-equity ratios reported during that period. The company experienced a slight decline in top-line performance for a third consecutive year in 2025, primarily due to reduced client exposures and rate reductions driven by favourable loss experience. KBFG China has formulated a mitigation plan to regain business growth momentum, while maintaining a stable net exposure. The company’s underwriting profitability has remained stable, supported by low acquisition costs and positive reinsurance commission income. Stable investment returns are expected to remain a key contributor to KBFG China’s overall operating results.
As a foreign-owned insurer focusing on serving Korean interests abroad, KBFG China has a defensible competitive advantage in this niche market. However, the company has a limited market presence in China’s non-life segment with less than 1% of total market share. AM Best views KBFG China’s ERM as appropriate for its risk profile.
Negative rating actions could occur if there is a diminished level of support from KB Insurance Co., Ltd., such as a material reduction in explicit or implicit support extended to the subsidiary. Negative rating actions also may arise from a sustained deteriorating trend in the company’s operating performance. Positive rating actions may occur if there is a significant increase in KBFG China’s capital size with robust risk-adjusted capitalisation.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
The ratings reflect KBFG China’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also reflect the wide range of support that the company receives from its parent, KB Insurance Co., Ltd., in areas including underwriting and pricing, business development, reinsurance and risk management.
KBFG China’s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s consolidated capital and surplus have continued to increase, backed by positive operating performance with full profit retention. KBFG China maintains a low underwriting leverage, limited net exposure to large commercial accounts and a conservative investment appetite. The company has in place a comprehensive reinsurance programme with a panel of financially sound reinsurers. KBFG China’s statutory core solvency ratio improved from 501% in 2024 to 671% at year-end 2025, owing to the complete settlement of sizeable reinsurance recoverables as planned.
KBFG China has reported positive operating profit over the last five years (2021 to 2025), with low-to-mid-single digit return-on-equity ratios reported during that period. The company experienced a slight decline in top-line performance for a third consecutive year in 2025, primarily due to reduced client exposures and rate reductions driven by favourable loss experience. KBFG China has formulated a mitigation plan to regain business growth momentum, while maintaining a stable net exposure. The company’s underwriting profitability has remained stable, supported by low acquisition costs and positive reinsurance commission income. Stable investment returns are expected to remain a key contributor to KBFG China’s overall operating results.
As a foreign-owned insurer focusing on serving Korean interests abroad, KBFG China has a defensible competitive advantage in this niche market. However, the company has a limited market presence in China’s non-life segment with less than 1% of total market share. AM Best views KBFG China’s ERM as appropriate for its risk profile.
Negative rating actions could occur if there is a diminished level of support from KB Insurance Co., Ltd., such as a material reduction in explicit or implicit support extended to the subsidiary. Negative rating actions also may arise from a sustained deteriorating trend in the company’s operating performance. Positive rating actions may occur if there is a significant increase in KBFG China’s capital size with robust risk-adjusted capitalisation.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2026 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/20260313332401/en/
Contact
Madison Fan
Senior Financial Analyst
+852 2827 3416
madison.fan@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Stephanie Mi
Senior Financial Analyst
+852 2827 3402
stephanie.mi@ambest.com
Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com
Source : AM Best
Contact
Madison Fan
Senior Financial Analyst
+852 2827 3416
madison.fan@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Stephanie Mi
Senior Financial Analyst
+852 2827 3402
stephanie.mi@ambest.com
Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com
Source : AM Best
Thursday, 12 March 2026
EIG’s MidOcean Energy to Acquire Additional Gorgon LNG Interest from JERA; Parties Explore Strategic Alliance
- Transaction increases MidOcean’s equity exposure to premier Australian LNG project
- Adds incremental uncontracted LNG volumes, enhancing portfolio optimization and marketing flexibility
- Planning future collaborations, exploring further transactions and opportunities with JERA across other assets globally with the aim of creating a future strategic alliance
WASHINGTON, March 12 (Bernama-BUSINESS WIRE) -- MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, today announced it has entered into definitive agreements with JERA Co., Inc. (“JERA”) to acquire JERA Gorgon Pty Ltd, which holds JERA’s 0.417% interest in the Gorgon LNG project. MidOcean is an existing participant in the Gorgon LNG project, and this transaction increases MidOcean’s interest in Gorgon to 1.417%. The transaction perimeter also includes JERA’s 0.735% interest in the Ichthys LNG project. Subject to the satisfaction of relevant conditions precedent, the interests in Gorgon and Ichthys will be sold to MidOcean, and then the Ichthys interest shall be transferred, subject to the satisfaction of further conditions, to an existing joint venture participant in the Ichthys LNG project.
The acquisition increases MidOcean’s equity exposure to a large-scale, long-life, integrated LNG project operated by Chevron, further strengthening its portfolio of high-quality producing assets.
In parallel, MidOcean and JERA plan future collaborations, exploring future transactions and opportunities on LNG and adjacent energy transactions globally with the aim of creating a strategic alliance. This reflects a shared objective to pursue disciplined growth and unlock additional sources of value across the LNG value chain.
Gorgon LNG is supplied by the Gorgon and Jansz-Io gas fields in the Carnarvon Basin offshore Western Australia and comprises three LNG trains with total nameplate capacity of approximately 15.6 Mtpa. The project includes domestic gas supply and condensate production, supported by extensive offshore and onshore infrastructure on Barrow Island.
R. Blair Thomas, MidOcean Chairman and EIG CEO, said:
“This transaction advances MidOcean’s strategy to build a scaled, globally diversified LNG company anchored by high-quality assets and counterparties. Increasing our position in Gorgon enhances the quality and durability of our portfolio while expanding our equity exposure to one of the industry’s benchmark LNG projects. Looking ahead, our collaboration with JERA including exploring the establishment of a strategic alliance positions us to pursue additional high-quality opportunities in a disciplined and repeatable way.”
De la Rey Venter, CEO of MidOcean, said:
“The acquisition adds incremental uncontracted equity volumes, increasing our ability to optimise across our portfolio and capture value through commodity cycles. Gorgon is a high-quality, cash-generative asset with long reserve life and strong operating performance. Deepening our relationship with JERA also strengthens our ability to originate and execute future transactions in the global LNG market.”
JERA Senior Managing Executive Officer and Chief Low Carbon Fuel Officer, Mr Ryosuke Tsugaru, said:
“Australia remains strategically important to JERA as a trusted and reliable LNG supplier, and we value the longstanding partnerships we have built there. Through our ongoing portfolio optimisation, we are strengthening our ability to support long-term energy security for Australia, Japan and the broader region. JERA looks forward to collaborating with MidOcean Energy across the LNG value chain.”
The parties aim to close the transaction during the first half of 2026, subject to customary closing conditions, including regulatory approvals.
UBS acted as financial advisor to MidOcean, and White & Case acted as legal advisor.
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with $25.4 billion assets under management as of December 31, 2025. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 43-year history, EIG has committed over $53.4 billion to the energy sector through 425 projects or companies in 44 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.
About MidOcean Energy
MidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost- and carbon-competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical element of a lower carbon, competitive and more secure global energy system. MidOcean Energy has diverse LNG interests, including in Gorgon LNG, Pluto LNG, QCLNG and Peru LNG. The company is headed by De la Rey Venter, a 27-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc.
For additional information, please visit MidOcean Energy’s website at www.midoceanenergy.com or EIG’s website at www.eigpartners.com.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20260311979630/en/
Contact
EIG/MidOcean Contact Information
FGS Global
Kelly Kimberly / Brandon Messina
+1 212-687-8080
EIG@fgsglobal.com
Source : EIG
Subscribe to:
Comments (Atom)