P&G 2019 CITIZENSHIP REPORT HIGHLIGHTS COMMITMENT TO COMMUNITY IMPACT, GENDER EQUALITY, DIVERSITY & INCLUSION AND SUSTAINABILITY

Company’s Focus on Being a Force for Good and Force for Growth is Underpinned by Higher Reputation Rankings

CINCINNATI, Dec 4 (Bernama-BUSINESS WIRE) -- The Procter & Gamble Company (NYSE:PG) today released its 2019 Citizenship Report, detailing progress in its Citizenship focus areas of Community Impact, Diversity & Inclusion, Gender Equality and Environmental Sustainability built on the foundation of Ethics and Corporate Responsibility.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191202005577/en/

 

From reaching its 2020 goal of providing 15 billion liters of clean water through its Children’s Safe Drinking Water (CSDW) Program, to using its voice to spark conversations about gender and racial equality, 2019 was a year in which P&G’s leadership made a meaningful impact in the community and with the Company’s employees.

“We’ve built Citizenship into our business, and it’s not only doing good, it’s building trust and equity with consumers, and driving growth and value creation—allowing us to be a force for good and a force for growth,” said David Taylor, P&G’s Chairman of the Board, President and Chief Executive Officer. “It’s not a separate thing we do on the side—it’s how we do business every day around the world.”

With operations in about 70 countries serving nearly five billion people, the Company leverages its scale, innovation and talented employees, along with the reach of its 65 leadership brands, to do good every day. P&G’s contributions have been recognized externally with higher 2019 rankings on Fortune’s World’s Most Admired Companies and the Axios Harris Poll 100.

In addition, more than 80% of P&G’s employees expressed a favorable opinion about the Company’s Citizenship efforts, making Citizenship a high-scoring index in the Company’s 2019 annual survey.

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BNY MELLON SELECTED BY VFMC TO SUPPORT DATA TRANSFORMATION

MELBOURNE, Australia, Dec 17 (Bernama-BUSINESS WIRE) -- BNY Mellon, a global leader in investment management and investment services, is pleased to announce that Victorian Funds Management Corporation (VFMC) has selected its Eagle Data Management product to underpin its comprehensive data and IT transformation strategy. The solutions, hosted on Eagle ACCESS℠, a secure private cloud, also include a Managed Services agreement to integrate, clean, enrich and validate multiple sources of investment data into one centralised location and help manage the technology environment for VFMC on a going-forward basis.

As the investment specialist of the government of Victoria in Australia, VFMC manages assets of over $65 billion, and delivers investment and funds-management services to 29 Victorian public authorities and related organisations.

“For investment managers like VFMC to thrive in today’s environment, it requires comprehensive technology solutions that allow investment professionals to focus on their core business, and not be weighed down by legacy systems,” said Rohan Singh, Asia Pacific Head of Asset Servicing at BNY Mellon. “We’re proud to welcome VFMC and build on our established team in Sydney by expanding our presence in Melbourne to support VFMC and continued growth in Australia and Victoria.”

Victorian Treasurer Tim Pallas welcomed the move, saying it would ensure VFMC was well supported and provide a boost to Melbourne’s already thriving tech sector.

“When it comes to innovation and leading tech capabilities, this is the place to be,” Mr Pallas said. “As VFMC continues to grow and improve, it is vital they have the backing of a partner that understands the market as well as the tools needed to transform.”

In its search for a technology partner to support its IT transformation strategy, VFMC prioritised solutions that could improve data quality while offering a flexible and open platform able to scale as assets under management also grow.

“It was essential for us to find a strategic partner who could enable and support an uplift in our investment decision making and insights. We wanted to centralise and enrich our data, uplift exposure intelligence and enhanced analytics, facilitate stronger governance and deliver enhanced reporting.” said Lisa Gray, CEO of VFMC.

ABOUT BNY MELLON

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of Sept. 30, 2019, BNY Mellon had $35.8 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news. 

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Contact

BNY Mellon Contact:
Sai Man
+852 2840 6632
sai.man@bnymellon.com

VFMC Contact:
Lisa Gray
CEO
+613 9207 2900
info@vfmc.vic.gov.au

Source : BNY Mellon

Epiq appoints Vishal Chhibbar as president, chief financial officer

KUALA LUMPUR, Dec 17 -- Vishal Chhibbar has joined Epiq, a global leader in the legal services industry, as president and chief financial officer, bringing over three decades of experience in global finance and operations.

According to a statement, he will be responsible for the finance function, global operations and lead the continued transformation of Epiq to deliver high value solutions to clients with world class process, automation and technology.

With a remarkable record of accomplishments, Chhibbar has worked with blue chip companies on mergers, acquisitions, financial and strategic planning, joint venture management, Security and Exchange Commission accounting and reporting, as well as managing risk in diverse markets and expanding economies.

Most recently, he served for 10 years as the executive vice-president and chief financial officer for EXL Services, a publicly traded company.

Chhibbar is a Chartered Accountant and an Associate Member of Certified Practicing Accountant Australia and Six Sigma Black Belt certified. He holds a Bachelor of Commerce from DAV College, Dehradun in India.

-- BERNAMA

LEDDARTECH EXHIBITS LIDAR TECHNOLOGY AT CES 2020 FROM JANUARY 7-10 IN LAS VEGAS IN COLLABORATION WITH THE GOVERNMENT OF QUEBEC

LeddarTech joins an esteemed group of companies at the Government of Canada Booth in collaboration with the Government of Quebec’s Ministry of Economy and Innovation

QUEBEC CITY, Dec 17 (Bernama-GLOBE NEWSWIRE) -- LeddarTech^®, an industry leader in LiDAR technology that designs the most versatile and scalable Auto and Mobility LiDAR Platform^TM in the market, today announced that it will join the Quebec delegation at CES 2020, representing some of Quebec’s most innovative companies. This opportunity is occurring due to an initiative organized and made possible by Quebec’s Ministry of the Economy and Innovation under the leadership of the Honorable Minister Mr. Pierre Fitzgibbon, in collaboration with the Government of Canada.

“LeddarTech is excited and honored to join the Government of Quebec at this year’s Consumer Electronics Show” stated Daniel Aitken, Vice President of Global Marketing & Communications for LeddarTech.  “In the past 18 months, LeddarTech has expanded into Europe, America, and Asia; this successful expansion to new markets is a testament to how Canada in general and Quebec in particular, are at the forefront of innovation and the support of the technology sector’’ Mr. Aitken concluded.

Visit LeddarTech at the Quebec Ministry of Economy and Innovation Booth located at 35824 Las Vegas Convention Center, South Hall 4

Schedule a meeting with LeddarTech during CES

CES 2020 is a return for LeddarTech who has been committed to this annual event for several years now. This year, LeddarTech will be participating in several different locations throughout the conference as it continues to gain accolades and attention for its industry-leading LiDAR solutions. This year is especially significant as LeddarTech was honored as a CES 2020 Innovation Award Honoree in Vehicle Intelligence and Transportation for the newly launched Leddar^TM Pixell, a Cocoon LiDAR recently released for the autonomous vehicle market.  Launched in September of this year, the Leddar Pixell has won both praises and awards from industry associations and customers alike.

Leddar™ Pixell Benefits:

• Dependable object and Vulnerable Road User (VRU) detection
• Wide 180° horizontal field of view
• No dead zone in the illuminated field of view
• Exceptional durability
• 3D Flash, solid-state design with no moving parts
• IP67 enclosure with impact-resistant windows and automotive-grade connectors

About LeddarTech
LeddarTech is an industry leader providing the most versatile and scalable auto and mobility LiDAR platform based on the unique LeddarEngine™ which consists of a suite of automotive-grade, functional safety certified SoCs working in tandem with proprietary LeddarSP™ signal processing software. The company is responsible for several innovations in cutting-edge mobility remote-sensing applications, with over 70 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.

LeddarTech also serves the mobility market with solid-state high-performance LiDAR module solutions for autonomous shuttles, trucks, buses, delivery vehicles, and robotaxis. These modules are developed to support the mobility market but also to demonstrate the capabilities of LeddarTech’s auto and mobility platform as a basis for other LiDAR suppliers to build upon.

Additional information about LeddarTech is accessible at www.LeddarTech.com, and on LinkedIn, Twitter, Facebook, and YouTube.

Contact: Daniel Aitken, Vice President of Marketing and Communications, LeddarTech
Tel.: +1-418-653-9000 ext. 232 Daniel.Aitken@Leddartech.com

Leddar, LeddarTech, LeddarEngine, LeddarSP, LeddarCore, and LeddarTech logos are trademarks or registered trademarks of LeddarTech Inc. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

SOURCE: LeddarTech inc.

AM BEST AFFIRMS CREDIT RATINGS OF CHINA TAIPING INSURANCE (HK) COMPANY LIMITED

HONG KONG, Dec 16 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of China Taiping Insurance (HK) Company Limited [CTPI(HK)] (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect CTPI(HK)’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

CTPI(HK) continues to maintain robust risk-adjusted capitalization, supported by an organic accumulation of retained earnings, an improving quality of investment assets, prudent reserving practices and comprehensive reinsurance programs.

CTPI(HK) has demonstrated a track record of positive underwriting results over the past five years, despite thin profit margins. Investment assets continue to provide the company a stream of stable and favorable returns through interest, rental and dividend income. Over the short to intermediate term, AM Best expects the company’s operating performance to remain highly dependent on its investment performance, while underwriting profitability can be maintained at a stable, yet low level.

CTPI(HK) benefits from its long operating history, brand recognition and business relationships with clients, in particular Sino-based enterprises and distribution partners in Hong Kong. The company ranked third in Hong Kong’s non-life insurance market based on gross premium written in 2018, and remained a leading player in key business lines including motor, property damage, statutory general liability and marine insurance. While agents and brokers are the major source of premium revenue, the company aims to diversify its distribution network by developing a direct sales team and reinforcing its bancassurance channel.

Offsetting rating factors include investment concentration risks associated with unlisted funds and investment properties, as well as the prolonged intense market competition.

Positive rating actions are unlikely in the near term. Negative rating actions could occur if there is a trend of material deterioration in the company’s operating results, or if there is a material decline in CTPI(HK)’s risk-adjusted capitalization.

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 Understanding 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 provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

June Wang
Associate Financial Analyst
+852 2827 3416
june.wang@ambest.com

James Chan
Senior Financial Analyst
+852 2827 3418
james.chan@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Source : AM Best

Global inbound arrivals expected to reach 1.47 billion trips in 2019 - Euromonitor International

KUALA LUMPUR, Dec 3 -- Global inbound arrivals are expected to grow by 4.2 per cent to 1.47 billion trips in 2019, with the top 100 cities covering nearly 47 per cent of global arrivals, according to global market research company, Euromonitor International.

The company in its ‘Top 100 City Destinations 2019’ report covered the world’s leading cities ranked by international tourist arrivals. It shows that five out of the top 10 most visited cities in 2018 are in Asia Pacific, with Hong Kong listed as the most visited city in the world, followed by Bangkok.

“Amid the current situation in Hong Kong, leading to a sharp decline in the number of visitor arrivals this year at -8.7 per cent, the city is expected to maintain its leading position in 2019,” said Euromonitor International senior analyst, Rabia Yasmeen.

While Asia Pacific is the clear winner in this year’s ranking, Europe remains the second key region for travellers, with London retaining its third place in the ranking, despite a decline in the number of arrivals in 2018, as the Brexit uncertainty continues.

Reporting the fastest growth in inbound arrivals globally, Istanbul made a strong comeback in the top 10, according to a statement.

In stark contrast, increased competitiveness from Asian and European cities have weighed heavily on America’s cities with most experiencing a decline in rankings, despite a growth in arrivals.

In the Middle East and Africa, Euromonitor records a steady growth when compared to the rest of the world, with Cairo and Hurghada showing a sharp recovery in the ranking, owing to an active tourism reform strategy.

More information at https://www.euromonitor.com.

-- BERNAMA

AM Best downgrades, withdraws Papua New Guinea's CGI credit ratings

KUALA LUMPUR, Dec 16 -- AM Best has downgraded the Financial Strength Rating to C (weak) from C+ (marginal) and the Long-Term Issuer Credit Rating to ‘ccc’ from ‘b-’ of Capital General Insurance Company Limited (CGI) Papua New Guinea.

According to a statement, the outlook of these credit ratings remained negative.

Concurrently, these ratings have been withdrawn as the company has requested to no longer participate in AM Best’s interactive rating process.

The ratings reflect CGI’s balance sheet strength, which AM Best described as weak, as well as its adequate operating performance, limited business profile and weak enterprise risk management.

The rating downgrades reflect a deterioration in AM Best’s view of CGI’s operating performance and balance sheet strength fundamentals.

The company’s underwriting and operating performance metrics have exhibited a high degree of volatility over a number of years.

Most recently, a notable increase in large loss activity arising from the company’s property portfolio during the second half of 2019 is expected to drive a material pre-tax operating loss for full-year 2019.

A number of single large property losses, principally arising from fire events, has triggered the company’s reinsurance protection multiple times during the second half of this year.

Consequently, CGI’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, continues to depict a high level of volatility and trend negatively.

The negative outlooks reflect AM Best’s expectation of continued pressure on risk-adjusted capitalisation over the medium term and ongoing volatility in operating performance metrics.

-- BERNAMA