KOREA PACK & ICPI WEEK 2022 connects offline exhibition to online business platform

 

KUALA LUMPUR, Dec 13 -- KOREA PACK and concurrent event ICPI WEEK (Int’l Cosmetic and Pharmaceutical Industry Week) will be held as hybrid events in 2022.

KOREA PACK and ICPI WEEK, the largest packaging, cosmetic and pharmaceutical exhibition in Korea, will be held at KINTEX from June 14 to 17, hosted by Kyungyon Exhibition Corp.

KOREA PACK 2022 will cover such main product groups as Packaging Machinery, Packaging Materials & Containers, Package Printing Machines, Packaging Inspection Equipment, and Packaging Processing Machinery & Equipment, among others.

According to a statement, KOREA PACK is distinguished by its unique breadth of products and services and the unparalleled internationality of its exhibitors and visitors alike.

Meanwhile, ICPI WEEK, International Cosmetic & Pharmaceutical Industry Week, consists of six concurrent events including The 12th Materials Handling & Logistics Exhibition (KOREA MAT); and, The 17th Cosmetic, Pharmaceutical, Bio Process & Technology Exhibition (COPHEX).

Through these concurrent events, visitors can see everything from the development, R&D, to production, packaging, logistics, and distribution of products.

With a scale of 1,500 companies and 3,500 booths, 80,000sqm (scheduled), KOREA PACK & ICPI WEEK is the biggest packaging, cosmetic and pharmaceutical B2B exhibition in Korea.

A premium online platform of KOREA PACK & ICPI WEEK will be arranged for an active business exchange. In preparation for the prolonged COVID-19, the organiser will support connecting suppliers and consumers in a non-face-to-face manner for continuous business. 

This platform is to showcase exhibitors’ products and technology, arrange online business meetings, and give information on the latest trends through online seminars and conferences.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF BAO MINH INSURANCE CORPORATION

SINGAPORE, Dec 10 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Bao Minh Insurance Corporation (BMI) (Vietnam). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect BMI’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also factor in a neutral impact from the company’s majority ownership by the State Capital Investment Corporation (SCIC), which is the sovereign wealth fund of Vietnam.

BMI’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation that is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio (BCAR). Capital adequacy remains sufficient to support planned business growth despite limited capital generation over recent years. AM Best views BMI’s investment portfolio to be of moderate risk. Whilst the majority of investments are allocated toward term deposits, the company maintains a portion of its investments in higher risk assets including non-rated corporate bonds, real estate, a joint venture and other equity investments. BMI also maintains a basic approach to asset liability management despite some exposure to longer-duration products within its business mix.

AM Best views the company’s operating performance as adequate, as demonstrated by a five-year average return-on-equity ratio of 8.3% (2016-2020). BMI has generated underwriting profits consistently in recent years, although its high expense ratio continues to be an offsetting factor to the company’s underwriting performance. Claims experience were more favourable in 2020 compared with 2019, supported by a lower loss ratio in motor, personal accident and health insurance. However, the expense ratio has increased as more business was sourced through its higher cost distribution channels. Investment returns are expected to remain constrained over the near term given prevailing low domestic interest rates. Prospectively, BMI plans to review its allocation to domestic fixed income securities for investment yield enhancement.

AM Best assesses BMI’s business profile as neutral. BMI is ranked as the fourth-largest non-life insurer in Vietnam based on 2020 gross premiums written, although its market share has shown a gradual reduction over the years. BMI’s underwriting portfolio is viewed as diversified by line of business although the company has a single-market concentration to Vietnam. BMI’s business profile benefits from a level of business referral from its majority shareholder, SCIC, albeit a divestiture by this shareholder is expected over the near to medium term.

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 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 © 2021 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/20211209005732/en/ 

Contact

Chris Lim
Senior Financial Analyst
+65 6303 5018
chris.lim@ambest.com

Yuan Tian
Senior Financial Analyst
+65 6303 5016
yuan.tian@ambest.com

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

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

Source : AM Best

--BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF PROVIDENT INSURANCE CORPORATION LIMITED

SINGAPORE, Dec 10 (Bernama-BUSINESS WIRE) --  AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Provident Insurance Corporation Limited (PICL) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect PICL’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

PICL’s balance sheet strength assessment reflects its risk-adjusted capitalisation, which was at the strong level as of fiscal year-end 2021, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite elevated planned underwriting growth over the medium term, AM Best expects PICL’s risk-adjusted capitalisation to be maintained at least at an adequate level, supported by internal capital generation. Other balance sheet factors include the company’s conservative investment strategy and prudent reserving approach, with a notable buffer in held reserves above regulatory requirements.

AM Best views PICL’s operating performance as adequate. The company reported a five-year average return-on-equity ratio of 10.7% (fiscal years 2017-2021), albeit with heightened volatility over this period. Following weakened underwriting performance in fiscal 2020 due to worse-than-expected loss experience of the company’s core insurance products, PICL has executed several mitigating actions, including targeted premium rate adjustments and strengthening of underwriting controls. Following these actions, underwriting results improved in fiscal year 2021. In addition, given the lower usage of motor vehicles due to the COVID-19 pandemic, the company saw reduced claims costs in its mechanical breakdown insurance (MBI) and private motor vehicle (PMV) lines of business during fiscal year 2021. The combined effect of these factors resulted in a combined ratio of 92.7% for fiscal year 2021, compared with 105.8% in 2020.

AM Best views PICL’s business profile as limited. This reflects the company’s relatively modest scale of operations and limited geographical diversification, with all business emanating from New Zealand. PICL is a niche insurer that focuses on MBI and PMV products, largely distributed through motor dealerships and several distribution partners across its domestic market. PICL is exposed to a moderate level of pricing risk arising from its high premium growth and the underwriting of multi-year policies, largely in the MBI segment. 

http://mrem.bernama.com/viewsm.php?idm=41899

CSOP MSCI CHINA A 50 CONNECT ETF LISTS ON HKEX

KUALA LUMPUR, Dec 13 (Bernama) -- CSOP Asset Management Limited (CSOP) has announced the listing of CSOP MSCI China A 50 Connect ETF (stock ticker: 3003.HK) on Hong Kong Stock Exchange on Dec 13.

Adopting a combination of physical representative sampling and synthetic representative sampling strategy, 3003.HK provides investment results that closely correspond to the performance of the MSCI China A 50 Connect Index (the Index).

“Now we are excited to bring this revolutionary MSCI China A 50 Connect ETF – 3003.HK to global investors. We are confident that, thanks to its sound index ecosystem and balanced sector allocation with investable China’s sector leaders, 3003.HK will reignite global investors’ enthusiasm of investing in China A-Shares,” said Chief Executive Officer of CSOP,  Ding Chen.

According to a statement, 3003.HK will enable global investors to capture the investment opportunities of A-Shares market in a more diversified and balanced way.

The listing price is at around HKD 7.8 per unit with trading lot of 100 units and management fee of 0.99 per cent per annum. Upon inception, 3003.HK has received around US$120 million initial investment. (US$1 = RM4.210)

MSCI China A 50 Connect Index is an industry-balanced A-Shares broad-based benchmark index that represents the full market opportunity including China’s new economy.

Built from MSCI China A Index, the Index contains 50 of the largest China A-Shares investable through the Stock Connect.

With at least two largest stocks from each of the 11 GICS® sectors – corresponding to the index weights of the MSCI China A Index, it is designed to reflect broad diversification of China’s economy to avoid overweighting of financial or certain single sectors.

Being one of the largest and most active ETF providers in Hong Kong, CSOP has been committed to providing ETFs/ETPs to global investors for 10 consecutive years.

-- BERNAMA

HSBC Singapore CRO Gautam Mukharya Joins SPIN Analytics' Global Advisory Board

KUALA LUMPUR, Dec 9 -- SPIN Analytics, a modern FinTech provider bringing a new paradigm for credit risk modelling, has announced Gautam Mukharya, CRO for HSBC Singapore, is joining the Company’s Global Advisory Board.

Gautam is a seasoned banker and Risk professional having 25 years’ experience in the financial sector, specialised in credit and enterprise risks and an active sponsor of Innovation, FinTech and new technologies.

Over the last 20 years with HSBC Group, Gautam has held a variety of country and regional roles, including CRO HSBC Australia, Head of Wholesale Credit Risk for Asia Pacific and CRO HSBC Mauritius.

In a statement, Panos Skliamis, CEO of SPIN Analytics, said: “I am delighted to welcome Gautam to our Advisory Board, a leading expert in the risk field. Gautam was our industry mentor during the Global Hackcelerator Programme of the Singapore FinTech Festival 2018 and we have since been engaging with him to help our efforts in Asia Pacific.

“We look forward to working with Gautam to create further value for our stakeholders.”

Meanwhile, Gautam said: “I am pleased to join the Advisory Board of an impactful company for the digital transformation of banks. SPIN Analytics has been a catalyst for the financial services industry, leading the way of Explainable AI automation in Regulatory Credit Risk Modeling.

"I am confident that together with my fellow board members and the management team, we can help SPIN Analytics to accelerate the adoption of RISKROBOT by global and digital banks.”

As the Country CRO, Gautam is responsible for managing all risk areas across HSBC’s operations in Singapore, a member of the BoD of the Singapore Chapter of Risk Management Association and an international speaker at conferences and government webinars.

 Gautam has contributed to the National KYC Utility project and to the Green eco-system. Since 2019, he has sat on the Demo Day Judging panel at the Global Hackcelerator and selection panel for the FinTech Awards at the Singapore FinTech Festival.

He is currently chairing the risk management work-stream of Green Finance Industry Taskforce and co-chairs the work-stream on Transition Standards.

-- BERNAMA

NIPPON EXPRESS (NEDERLAND) ACQUIRES GDP COMPLIANCE CERTIFICATION FOR COMPANY-OWNED WAREHOUSE

TOKYO, Dec. 8, 2021 /Kyodo JBN-AsiaNet/ --

Nippon Express (Nederland) B.V. (hereinafter "NEN"), a local subsidiary of Nippon Express Co., Ltd., obtained Good Distribution Practice (GDP) certification, effective September 6, for its company-owned warehouse in Schiphol Trade Park near Amsterdam's Schiphol Airport, evidencing its compliance with GDP standards for the proper distribution of pharmaceuticals. Logo: https://kyodonewsprwire.jp/img/202112014248-O2-DvOj4uIB Photo1: Warehouse exterior https://kyodonewsprwire.jp/prwfile/release/M103866/202112014248/_prw_PI1fl_Lv4vEAOc.jpg Photo2: Warehouse interior https://kyodonewsprwire.jp/prwfile/release/M103866/202112014248/_prw_PI3fl_78SFb5Xi.jpg The Netherlands has become home to one of Europe's largest clusters of cutting-edge biotechnology companies, and the country's geographical and tax advantages have encouraged numerous pharmaceutical manufacturers to set up logistics bases there. NEN's warehouse near Schiphol Airport, an import/export gateway for Europe, is fully equipped with dedicated pharmaceutical storage areas boasting temperature-control functions for three temperature ranges -- 15 C to 25 C (constant-temperature storage), 2 C to 8 C (refrigerated storage) and -15 C to -25 C (frozen storage) -- as well as dedicated truck docks, enabling NEN to enhance its pharmaceutical transport services to meet anticipated increases in demand. Nippon Express remains committed to improving its services to meet the increasingly sophisticated and diversified pharmaceutical transport needs of its customers, and the Company will continue to strengthen its efforts on behalf of the pharmaceutical industry, identified as a priority industry in its Medium-term Business Plan. Profile of facility Name: Nippon Express (Nederland) B.V. Schiphol Airport Logistics Centre Address: Contour Avenue 31, 2133 LD Hoofddorp, The Netherlands Nippon Express website: http://www.nipponexpress.com/ Official LinkedIn account: NIPPON EXPRESS GROUP https://www.linkedin.com/company/nippon-express-group/ Source: Nippon Express Co., Ltd. --BERNAMA

KYRIBA ANNOUNCES THE APPOINTMENT OF AN EXECUTIVE ADVISORY BOARD

Kyriba Appoints Four Executive Board Advisors to Stimulate Innovation Plans, Business Agility and Economic Growth


SAN DIEGO, Dec 10 (Bernama-BUSINESS WIRE) -- Kyriba Corp. (“the Company”), a global leader of cloud-based finance and IT solutions, announced today the creation of its Executive Advisory Board (“the Board”) comprised of globally recognized leaders who bring a depth of experience and leadership to the Company. The new Executive Advisory Board will play a key role in accelerating the Company’s innovation plans and propelling its international growth strategy in a constantly evolving global marketplace.

The members of the Global Executive Advisory Board, who can be credited with transforming some of the largest and most trusted brands in the world as Deloitte, HSBC and SAP, include:

• Jim Moffatt, former Global Consulting CEO at Deloitte, brings more than 33 years of Senior Leadership experience at Deloitte
• Philippe Henry, former Head of EMEA Global Banking at HSBC with 35 years in transformational leadership in banking and finance. Currently, CEO of Dewenson Partners, a Management Consulting & Venture Capital company
• Brian Shniderman, US CEO & Global Chief Strategy Officer at Openpay, brings 34 years of experience in the payments and fintech advisory industry
• Chakib Bouhdary, former President of SAP Ariba, with more than 30 years of multi-industry experience

In the post-COVID context, Financial Departments are increasingly turning to APIs, AI and data management technologies to increase their visibility on cash, drive strategic value and become trusted enterprise partners. The Board’s mission is to provide strategic guidance to Kyriba business leaders on new growth drivers and bring to market solutions, practices and new talent capabilities as the sector matures and digitalizes.

“The demand for novel applications and practices stemming from the combined use of APIs, AI and data management from our clients creates a unique opportunity to think about how we can better support corporate Finance departments. It also opens the path to new growth drivers,” said Jean-Luc Robert, Chairman and CEO of Kyriba. “I am both honored and thrilled to work with Jim, Philippe, Brian, and Chakib. I am confident they will play a valuable role in guiding our strategic decisions and our innovation plans to help us stimulate our business in any context.”

Jim Moffatt will serve as the Chair of the Advisory Board and will be responsible to execute the Board’s charter and support the expansion of the Board.

"Kyriba has transformed the way multinational CFOs, Finance and IT leaders unlock value creation through a unified liquidity management solution,” said Jim Moffatt. “I am excited to share my perspectives with Jean-Luc and the executive team at Kyriba, and to join the Company's Executive Advisory Board."

For more information about Kyriba, please go to Kyriba.com.

About Kyriba Corp.:

Kyriba is a secure, scalable open platform that leverages artificial intelligence, automates payments workflows, and enables thousands of multinational corporations and banks to optimize liquidity, protect against loss from fraud and financial risk, and reduce operational costs. With more than 2,000 clients worldwide, including 25 percent of Fortune 500 and Eurostoxx 50 companies, Kyriba empowers CFOs, Treasurers, and their IT counterparts to transform how they optimize liquidity and manage risk, managing more than 1.3 billion bank transactions per year, and 200 million payments into 140 countries annually.

Kyriba is headquartered in San Diego, with offices in Dubai, Frankfurt, London, Minsk, Paris, Shanghai, Singapore, Tokyo, Warsaw and other major locations. For more information, visit www.kyriba.com.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20211209005652/en/

Contact

Corporate Media Contact:
Daniel Shaffer
dshaffer@kryiba.com
+1858-263-2219

Source : Kyriba Corp.