KUALA LUMPUR, April 15 -- Crown Bioscience has appointed Jean-Pierre Wery, PhD as executive chairman of the board, effective immediately.
According to a statement by the drug discovery and development service company, Dr Wery will also serve as chief technology officer for JSR Life Sciences LLC.
In this new role, Dr Wery will lead the JSR Life Sciences companies’ collaborative efforts to identify strategic synergies and develop innovative technologies, platforms and tools for the drug and biomarker research communities.
This leadership change ensures enhanced collaboration between CrownBio and the JSR Life Sciences family of companies to expand their already significant life sciences footprint.
In the same statement, CrownBio also announced the appointment of Armin Spura, PhD to succeed Dr Wery as chief executive officer (CEO), effective April 1.
As CEO, Dr Spura will drive the global corporate strategy for CrownBio, further strengthening the company’s position at the forefront of preclinical research services across oncology, metabolic disease and inflammation.
-- BERNAMA
Friday, 17 April 2020
Tricor Group completes acquisition of Axcelasia's Malaysian operations
KUALA LUMPUR, April 17 -- Tricor Group (Tricor), Asia’s leading business expansion specialist and professional services provider has completed the sale and purchase agreement to acquire the Malaysia operations of Axcelasia Inc (the Transaction).
According to a statement, Axcelasia is an integrated professional services firm delivering Governance, Risk & Compliance (GRC) solutions, corporate, business and tax services.
It is an SGX listed company, has a staff of over 100 professionals and more than 1,000 client portfolios, consisting of public listed companies, private companies, government-linked entities and multinational corporations.
The firm is led by seasoned industry executives, including Group Chief Executive Officer, Ranjit Singh; Non-Executive Chairman Dr Veerinderjeet Singh; and, Deputy Executive Chairman, Datuk Peter Tang.
For Tricor, this Transaction represents the launch of a new regional GRC business focused on helping clients manage their increasingly complex regulatory and compliance responsibilities while operating in the emerging and maturing economies of the Asia Pacific region.
This investment by Tricor is the first step towards building an integrated suite of GRC solutions that deliver enhanced value by supporting deep advisory expertise with client-centric technology.
Additionally, Axcelasia's corporate services and business support services will merge into Tricor Malaysia, making Tricor one of Malaysia's largest providers of corporate services to international and Malaysian corporations.
-- BERNAMA
According to a statement, Axcelasia is an integrated professional services firm delivering Governance, Risk & Compliance (GRC) solutions, corporate, business and tax services.
It is an SGX listed company, has a staff of over 100 professionals and more than 1,000 client portfolios, consisting of public listed companies, private companies, government-linked entities and multinational corporations.
The firm is led by seasoned industry executives, including Group Chief Executive Officer, Ranjit Singh; Non-Executive Chairman Dr Veerinderjeet Singh; and, Deputy Executive Chairman, Datuk Peter Tang.
For Tricor, this Transaction represents the launch of a new regional GRC business focused on helping clients manage their increasingly complex regulatory and compliance responsibilities while operating in the emerging and maturing economies of the Asia Pacific region.
This investment by Tricor is the first step towards building an integrated suite of GRC solutions that deliver enhanced value by supporting deep advisory expertise with client-centric technology.
Additionally, Axcelasia's corporate services and business support services will merge into Tricor Malaysia, making Tricor one of Malaysia's largest providers of corporate services to international and Malaysian corporations.
-- BERNAMA
MYPINPAD ENABLES SECURE PAYMENTS ON BOTH ANDROID AND IOS DEVICES
| Leading mobile security expert achieves software only PCI SSC SPoC approval for Android devices LONDON, April 16 (Bernama-BUSINESS WIRE) -- MYPINPAD (“MPP”), the global leader in secure personal authentication for payment solutions, has achieved Payment Card Industry (PCI) Security Standards Council (SSC) certification for its Android software-based PIN entry on a Commercial off-the-shelf (SPoC) solution –the first software only Android SPoC solution that does not rely on any hardware-based security. This makes the company the first to achieve a software only SPoC accreditation to enable secure payments on both Android and iOS devices. The bar is set very high to meet PCI’s SPoC requirements, and MYPINPAD’s solution has succeeded in passing them, enabling it to now work on any Android device operating v8.0 and above. Mobile devices running the Android operating system hold 87 per cent share of the global market, creating an expansion at scale for the deployment and adoption of MYPINPAD’s PIN on Mobile Solution MPP mPOS. The news comes shortly after MYPINPAD became one of the world’s first companies to achieve SPoC certification for iOS. With both PCI accredited software only SPoC certifications, MYPINPAD is set to deploy its secure and accessible solution globally in all major continents this year, enabling everyday smartphones and tablets to replace traditional Point of Sale terminals and PIN entry mPOS devices. Now that PCI SSC SPoC approval has been obtained for both Android and iOS operating systems, MYPINPAD is already working to achieve PCI certification for Contactless Payments on Commercial-off-the-shelf devices (CPoC). Our goal is to drive mobile device acceptance exponentially from 100 million currently to over 400 million by 2024. Newly appointed CEO at MYPINPAD, Colin Greene, commented: “We’re leading this complex field of mobile security, so we’re incredibly proud to be the first company to have achieved a software only SPoC certification for both Android and iOS. To get to this point has been the product of seven years of innovation and hard work, and we are really looking forward to now deploying our technology together with our key partners. “With Android and iOS operating systems occupying virtually all of the smart device global market share, we can now move forward with the expansion, at scale of mobile device use for PIN entry. This is a great example of how innovative tech solutions can help level the global playing field when it comes to payment services. We also look forward to unveiling our CPoC accredited solution later this year – watch this space.” MYPINPAD’s solution is easily integrated into third party applications and delivered ‘as-a-Service’. It significantly reduces cost across the entire face-to-face payment value chain by meeting PCI security standards through software updates alone. This relieves pain-points for the smallest retailers while also serving larger retailers by freeing them from maintaining and replacing aging hardware-centric POS estates. Please visit www.mypinpad.com to discover more about this transformational technology. http://mrem.bernama.com/viewsm.php?idm=37174 |
Thursday, 16 April 2020
MHPS J-SERIES GAS TURBINE FLEET ACHIEVES ONE MILLION COMMERCIAL OPERATING HOURS
LAKE MARY, Fla., April 15, 2020 — Mitsubishi Hitachi Power Systems’ (MHPS) J-Series gas turbine installed fleet today reached one million hours of commercial operation. Shown: MHPS M501JAC rotor at Takasago Works. (Photo: Business Wire)
- Achieves World Record Reliability of 99.5%
- Latest Enhancement Is the Largest, Most Fuel Efficient Gas Turbine in Operation Anywhere in the World
- 30% Renewable Hydrogen Capable, with 100% Capability in Development
LAKE MARY, Fla., April 16 (Bernama-BUSINESS WIRE) -- Mitsubishi Hitachi Power Systems’ (MHPS) J-Series gas turbine installed fleet today reached one million hours of commercial operation, nearly double that of similar sized gas turbines from competitors. This gas turbine series — the company’s largest and most advanced — leads the industry with reliable, efficient power generation and flexibility to meet rigid new standards for reduced carbon emissions. Introduced in 2011, the J-Series delivers an industry-leading overall reliability of 99.5% and an efficiency greater than 64%.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200415005220/en/
Forty-three J-Series gas turbines are in commercial operation, and total ordered capacity exceeds 25 GW globally. One hundred units have been technically selected in Brazil, Canada, Japan, Mexico, Peru, South Korea, Taiwan, Thailand, and the United States.
Donald Schubert, Principal at SHL Consulting LLC and former Senior Vice President of Marshes Global Power Practice, said, “MHPS continues to embrace proven technology throughout their gas turbine fleet. The insurability of the operating units remains at an all-time high for MHPS large frame machines.”
In many parts of the world, the J-Series gas turbine frequently replaces retired coal-fired power generation or is installed as an alternative to coal-fired power generation. Compared to the same size coal-fired power plants, one million J-Series operating hours has resulted in CO2 emissions reduction of 270 million tons. This is equivalent to CO2 emissions from 1,346,918 railcars of coal burned.
Ken Kawai, President and CEO of MHPS said, “As we reflect on the important milestone of achieving one million operating hours with our J-Series gas turbine, we know the most important part of that accomplishment is that we ran all those hours with 99.5% reliability. It all started with T-Point, our own combined cycle power plant in Takasago, Japan. Our extreme reliability is not by good luck. It is because we test the durability and reliability of every new technological advancement for 8,000 hours before shipping it to our customers. We have now built a second T-Point, T-Point 2, where our latest advancement, the cutting-edge air-cooled 60 Hz JAC, has just synced to the grid and achieved full load. Step-by-step, we have developed the largest, most reliable and most fuel-efficient gas turbine in the world.”
Recent innovations to the J-Series target further reductions in carbon emissions. Last month the company received an order from the Intermountain Power Agency, in Delta, Utah, for two JAC gas turbines capable of using up to 30% renewable hydrogen fuel. Eventually, these turbines will be capable of using 100% renewable hydrogen fuel. The 30% hydrogen system will reduce carbon emissions by more than 75% compared to the same size coal-fired power plant, and the 100% hydrogen system will eliminate carbon emissions entirely. MHPS is also developing grid-scale renewable hydrogen production and storage through the Advanced Clean Energy Storage (ACES) project in Delta, Utah.
Paul Browning, President and CEO of MHPS Americas and newly appointed Chief Regional Officer for Europe, Africa and the Middle East, said, “Going forward, every gas turbine MHPS sells globally will have renewable hydrogen fuel capability. This allows our customers to purchase a natural gas power plant today, and convert it over time into a renewable energy storage facility. This gives plant operators flexibility now and into the future to choose what mix of natural gas power generation and renewable energy storage best meets the needs of their electrical grids. We are providing the power generation and storage solutions that enable our customers to combat climate change and advance human prosperity. This is a Change in Power.”
About Mitsubishi Hitachi Power Systems Americas, Inc.
Mitsubishi Hitachi Power Systems Americas, Inc. (MHPS Americas), headquartered in Lake Mary, Florida, employs more than 2,000 power generation and energy storage experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity. MHPS Americas’ expertise includes natural gas, steam, aero-derivative, geothermal, and distributed renewable power generation technologies and services, along with renewable hydrogen and battery energy storage systems, environmental control systems solutions, and digital solutions enabling autonomous operations and maintenance of power assets throughout North and South America. MHPS Americas is a subsidiary of Mitsubishi Hitachi Power Systems (MHPS), a joint venture between Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd. integrating their operations in power generation systems.
Learn more about MHPS by visiting www.changeinpower.com.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200415005220/en/
Contact
Sharon Prater
+1 407-688-6200
Sharon.Prater@amer.mhps.com
Source : Mitsubishi Hitachi Power Systems Americas, Inc.
Wednesday, 15 April 2020
Teledyne DALSA introduces newest thermal cameras ideal for non-contact fever screening
KUALA LUMPUR, April 15 -- Teledyne DALSA, a Teledyne Technologies company and global leader in digital imaging technology has introduced its latest family of LWIR cameras, the Calibir™ GXM series.
Using Teledyne DALSA’s own VGA 17um microbolometer technology, Calibir GXM cameras offer exceptional infrared imaging performance, with great sensitivity, outstanding dynamic range for wide temperature coverage and factory-calibrated radiometric performance.
According to a statement, Calibir delivers accurate, repeatable results for critical applications like detecting elevated skin temperature in fever screening.
The Calibir GXM640 features both shutter and shutterless operation and rapid image output on power up while delivering uniform response over the entire operating temperature range, making it ideal for thermal imaging applications requiring uninterrupted image acquisition.
Teledyne DALSA’s own microbolometer offers improved Noise Equivalent Temperature Difference (NETD) and the updated calibration includes customised gain correction on a per lens basis to offer even better image performance and response uniformity.
These new and higher performing models will be useful for machine vision, where synchronisation is required in an active inspection system, and in defence and security applications requiring low NETD and networked cameras.
More details on www.teledynedalsa.com/mv.
-- BERNAMA
Using Teledyne DALSA’s own VGA 17um microbolometer technology, Calibir GXM cameras offer exceptional infrared imaging performance, with great sensitivity, outstanding dynamic range for wide temperature coverage and factory-calibrated radiometric performance.
According to a statement, Calibir delivers accurate, repeatable results for critical applications like detecting elevated skin temperature in fever screening.
The Calibir GXM640 features both shutter and shutterless operation and rapid image output on power up while delivering uniform response over the entire operating temperature range, making it ideal for thermal imaging applications requiring uninterrupted image acquisition.
Teledyne DALSA’s own microbolometer offers improved Noise Equivalent Temperature Difference (NETD) and the updated calibration includes customised gain correction on a per lens basis to offer even better image performance and response uniformity.
These new and higher performing models will be useful for machine vision, where synchronisation is required in an active inspection system, and in defence and security applications requiring low NETD and networked cameras.
More details on www.teledynedalsa.com/mv.
-- BERNAMA
Tuesday, 14 April 2020
Covid-19: Fusionex supports SMEs via innovative solutions built on Google Cloud
KUALA LUMPUR, April 14 -- Fusionex is undertaking efforts to aid and support Small and Medium Enterprises (SMEs) adapt their businesses to face the new reality that emerged as a result of the Covid-19 pandemic.
According to a statement by the leading multi-award-winning data technology specialist, it will assist SMEs via innovative, cutting-edge solutions built on Google Cloud Platform technologies.
This Fusionex and Google driven initiative will allow SMEs to take advantage of Fusionex’s Big Data Analytics and Artificial Intelligence to manage market changes, solve operational challenges and sustain core business processes during this time of uncertainty.
As a result, SMEs will be able to keep their operations afloat via intelligent automation, gain better insights to make smarter and more holistic decisions and capitalise on the positives of working remotely.
In doing so, SME owners will have the tools needed to adjust to the current state of affairs as the new normal and sustain their businesses until things get better.
As a Google Cloud Services Partner, Fusionex offers training programmes and consulting services for SMEs, enabling them to build on their competencies around Google Cloud Platform to advance and improve their business.
-- BERNAMA
According to a statement by the leading multi-award-winning data technology specialist, it will assist SMEs via innovative, cutting-edge solutions built on Google Cloud Platform technologies.
This Fusionex and Google driven initiative will allow SMEs to take advantage of Fusionex’s Big Data Analytics and Artificial Intelligence to manage market changes, solve operational challenges and sustain core business processes during this time of uncertainty.
As a result, SMEs will be able to keep their operations afloat via intelligent automation, gain better insights to make smarter and more holistic decisions and capitalise on the positives of working remotely.
In doing so, SME owners will have the tools needed to adjust to the current state of affairs as the new normal and sustain their businesses until things get better.
As a Google Cloud Services Partner, Fusionex offers training programmes and consulting services for SMEs, enabling them to build on their competencies around Google Cloud Platform to advance and improve their business.
-- BERNAMA
Friday, 10 April 2020
AM BEST DOWNGRADES ISSUER CREDIT RATING OF PT ASURANSI JASA INDONESIA (PERSERO)
SINGAPORE, April 10 (Bernama-BUSINESS WIRE) -- AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) for PT Asuransi Jasa Indonesia (Persero) (Jasindo) (Indonesia). The outlook of the Long-Term ICR has been revised to stable from negative, whilst the outlook of the FSR remains stable.
The Credit Ratings (ratings) reflect Jasindo’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The downgrade of the Long-Term ICR reflects a revision in AM Best’s assessment of Jasindo’s operating performance to adequate from strong, following a trend of deteriorating financial results, driven mainly by a decline in underwriting profitability over recent years.
The company reported combined ratio of 106.5% in 2018 whilst unaudited 2019 results indicated a close to technical breakeven position. At these levels, underwriting performance showed a marked decline as compared with the five-year average combined ratio of 89.0% between 2013 and 2017. The decline was attributable largely to a higher combined ratio in Jasindo’s growing retail portfolio, mainly in the credit insurance class. In addition, earnings were impacted by large premium reserve increases, which were made in 2018 to better reflect the earnings pattern of the portfolio. The assessment also factored in the minor shortfall in premium liabilities held as of year-end 2019. Prospectively, key lines of business within the retail segment could face continued pressures as a result of an economic slowdown.
AM Best views investment income arising from currency market movements to be volatile, although Jasindo has historically benefited from overall profitability. Following the company’s revised accounting treatment to exclude unrealised gains or losses arising from foreign exchange from the income statement, AM Best expects prospective operating income to show greater stability, albeit at a lower level. Although the company has put in place measures that include improving expense efficiencies and risk selection, in part through a focus on the quality of distribution and other business partners, these actions have not proven sufficient to return the company to its former profitability levels. Overall operating performance remained below prior expectations of the management and AM Best.
Jasindo’s balance sheet strength assessment is underpinned by its strongest level of risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best views the low capital requirements arising from Jasindo’s use of underwriting leverage, and exposure to equity investments to be supportive of the assessment. However, AM Best is of the view that the high reinsurance usage subjects the company’s capital position and cash flow to heightened sensitivity as a result of any reinsurance disputes and credit risk of these counterparties. Whilst not viewed to put immediate pressure on the balance sheet assessment, negative cash flows have been observed over recent periods, and consequently, the company has implemented tighter measures around managing account receivables with its partners to receive faster claim recoveries. In addition, the company’s balance sheet is exposed to significant reinsurance assets that are of lower credit quality based on international standards.
AM Best views Jasindo’s business profile as neutral. The company continues to maintain a sizeable share of Indonesia’s non-life insurance market. Jasindo has reduced its product risk exposure gradually by growing retail lines of business. Bahana Business Development Indonesia (BPUI), which is wholly owned by the Government of Indonesia, was approved to become the holding company of a number of Indonesian state-owned insurers, including Jasindo. The upcoming change of intermediate ownership structure, without a change of ultimate parent, is not viewed as material. AM Best views financial weakness or capital extraction at the holding company level to be unlikely over the medium term, with the expectation that the regulator would limit such potential actions to protect policyholders’ security.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2020 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/20200409005651/en/
Contact
Chris Lim
Financial Analyst
+65 6303 5018
chris.lim@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Doniella Pliss
Director, Analytics
+65 6303 5024
doniella.pliss@ambest.com
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com
Source : AM Best
The Credit Ratings (ratings) reflect Jasindo’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The downgrade of the Long-Term ICR reflects a revision in AM Best’s assessment of Jasindo’s operating performance to adequate from strong, following a trend of deteriorating financial results, driven mainly by a decline in underwriting profitability over recent years.
The company reported combined ratio of 106.5% in 2018 whilst unaudited 2019 results indicated a close to technical breakeven position. At these levels, underwriting performance showed a marked decline as compared with the five-year average combined ratio of 89.0% between 2013 and 2017. The decline was attributable largely to a higher combined ratio in Jasindo’s growing retail portfolio, mainly in the credit insurance class. In addition, earnings were impacted by large premium reserve increases, which were made in 2018 to better reflect the earnings pattern of the portfolio. The assessment also factored in the minor shortfall in premium liabilities held as of year-end 2019. Prospectively, key lines of business within the retail segment could face continued pressures as a result of an economic slowdown.
AM Best views investment income arising from currency market movements to be volatile, although Jasindo has historically benefited from overall profitability. Following the company’s revised accounting treatment to exclude unrealised gains or losses arising from foreign exchange from the income statement, AM Best expects prospective operating income to show greater stability, albeit at a lower level. Although the company has put in place measures that include improving expense efficiencies and risk selection, in part through a focus on the quality of distribution and other business partners, these actions have not proven sufficient to return the company to its former profitability levels. Overall operating performance remained below prior expectations of the management and AM Best.
Jasindo’s balance sheet strength assessment is underpinned by its strongest level of risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best views the low capital requirements arising from Jasindo’s use of underwriting leverage, and exposure to equity investments to be supportive of the assessment. However, AM Best is of the view that the high reinsurance usage subjects the company’s capital position and cash flow to heightened sensitivity as a result of any reinsurance disputes and credit risk of these counterparties. Whilst not viewed to put immediate pressure on the balance sheet assessment, negative cash flows have been observed over recent periods, and consequently, the company has implemented tighter measures around managing account receivables with its partners to receive faster claim recoveries. In addition, the company’s balance sheet is exposed to significant reinsurance assets that are of lower credit quality based on international standards.
AM Best views Jasindo’s business profile as neutral. The company continues to maintain a sizeable share of Indonesia’s non-life insurance market. Jasindo has reduced its product risk exposure gradually by growing retail lines of business. Bahana Business Development Indonesia (BPUI), which is wholly owned by the Government of Indonesia, was approved to become the holding company of a number of Indonesian state-owned insurers, including Jasindo. The upcoming change of intermediate ownership structure, without a change of ultimate parent, is not viewed as material. AM Best views financial weakness or capital extraction at the holding company level to be unlikely over the medium term, with the expectation that the regulator would limit such potential actions to protect policyholders’ security.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2020 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/20200409005651/en/
Contact
Chris Lim
Financial Analyst
+65 6303 5018
chris.lim@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Doniella Pliss
Director, Analytics
+65 6303 5024
doniella.pliss@ambest.com
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com
Source : AM Best
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