NEARFIELD INSTRUMENTS SECURES REPEAT ORDERS FOR QUADRA METROLOGY SYSTEM

KUALA LUMPUR, Dec 23 (Bernama) -- Nearfield Instruments, a pioneer in advanced process control metrology solutions, announced it has received repeat purchase orders for its flagship QUADRA High-Throughput Process Control Metrology System.

According to a statement, this follow-up order highlights the company’s increasing market traction and its success in penetrating high-volume manufacturing operations.

Nearfield Instruments chief executive officer, Hamed Sadeghian remarked that the repeat order is a testament to the system’s performance, reliability, and its essential role in supporting high-volume manufacturing.

He emphasised that the order reinforces the trust customers have in Nearfield to support their production objectives, and with the 2025 order book now full, the company remains committed to delivering innovative solutions that enhance manufacturing efficiency and yield.

The QUADRA system offers cutting-edge capabilities for in-line process control by Nearfield’s high-throughput AFM metrology technologies that deliver highly accurate, non-destructive 3D measurements of critical semiconductor parameters.

By providing real-time feedback on critical device structures, the system provides good correlation to device yield and enables manufacturers to maintain high yields and optimal performance in their production lines.

The system’s exceptional throughput allows manufacturers to quickly and accurately analyse large numbers of devices without compromising measurement precision, ensuring both efficiency and quality in the production process.

This repeat order from a leading semiconductor manufacturer highlights the growing confidence in the QUADRA platform as the industry advances to next-generation technologies.

The continued adoption of QUADRA systems by leading manufacturers further strengthens Nearfield Instruments’ position as a driving force in advanced process control metrology for mass production.

-- BERNAMA

MEDIDATA, CLINCHOICE EXTEND PARTNERSHIP TO ENHANCE CLINICAL TRIAL EFFICIENCY, INNOVATION

KUALA LUMPUR, Dec 20 (Bernama) -- Medidata, a Dassault Systèmes brand and provider of clinical trial solutions to the life sciences industry, has renewed its long-standing enterprise partnership with ClinChoice, a global contract research organisation (CRO).

Under this new agreement, ClinChoice will utilise the Medidata Platform to streamline study data and supply management, boost trial efficiency, and accelerate growth as a full-service CRO in Asia, Europe, and North America.

ClinChoice also plans to prioritise Clinical Data Studio accreditation, further enhancing its capabilities through a transformative artificial intelligence (AI)-powered data quality management experience.

Medidata senior vice president and general manager, APAC, Edwin Ng in a statement said ClinChoice’s dedication to innovation and patient-centred approaches makes them an invaluable partner.

“With this renewed partnership, we look forward to empowering ClinChoice with Medidata’s advanced solutions to further streamline their trial operations, expand their global reach, and accelerate access to life-changing therapies for patients worldwide,” he said.

Meanwhile, ClinChoice global chairman and chief executive officer, Ling Zhen noted that since the company’s first implementation of Medidata Rave EDC in 2011, its partnership with Medidata has supported its development, starting in the United States, then China, and eventually to the wider global stage.

“We are delighted to extend our work together to include Medidata’s Clinical Data Studio and other advanced technologies to further boost our expansion,” Ling added.

ClinChoice’s commitment in utilising Medidata’s solution has spanned over a decade, facilitating secure connections among patients, sites, and sponsors within a unified cloud environment.

By integrating Medidata’s solutions, ClinChoice continues to strengthen its operational efficiency and position itself for growth in today’s increasingly complex clinical trial landscape.

-- BERNAMA

LUMI GLOBAL ACQUIRES ASSEMBLY VOTING TO BOLSTER PRODUCT LEADERSHIP, EXPAND GLOBAL REACH

KUALA LUMPUR, Dec 20 (Bernama) -- Lumi Global, a global leader in technology-driven meeting solutions, has acquired Assembly Voting, a technology company specialising in end-to-end verifiable, cloud-based elections and voting solutions.

According to a statement, this strategic acquisition reinforces Lumi Global’s commitment to innovation via Assembly Voting's verifiable, scalable Electa platform while expanding its capabilities beyond the live meeting environment to new market opportunities.

Lumi Global Chief Executive Officer (CEO), Richard Taylor said the acquisition marked a bold step forward for Lumi Global, as the company extends its product capabilities beyond the meeting day and into the wider elections market.

“The integration of Assembly Voting’s innovative technologies with Lumi’s Global platform will unlock new opportunities, ensuring we remain at the forefront of technology-driven meeting, election and voting solutions in annual general meetings, investor relations, and member organisation worldwide,” added Taylor.

Meanwhile, Assembly Voting CEO, Jacob Gyldenkaerne said: “This partnership not only expands the reach of our technology but also enhances our ability to serve an even more diverse, global client base with end-to-end verifiable election solutions.”

Among the key highlights of the acquisition include Assembly Voting enhances Lumi Global's portfolio by introducing advanced end-to-end verifiability, ensuring secure, transparent, and verifiable election and voting processes for clients worldwide.

Meanwhile, the Electa platform is purpose-built for scheduled elections and asynchronous voting, complementing Lumi Global’s existing solutions for live meetings and synchronous voting. With a focus on verifiability, security, and scalability, Electa broadens Lumi's ability to support organisations at all stages of their decision-making, both prior to and during key meetings.

The deal also establishes Lumi Global’s presence in Denmark and Spain, opening new opportunities in these strategically significant markets, and it is strategically positioned to deploy the Electa platform across its key markets in North America, Europe, the Middle East, and Africa, as well as Asia Pacific.

The acquisition brings Assembly Voting’s experienced development team, enriching Lumi Global’s innovation pipeline and opening new avenues for collaboration and growth.

Lumi Global’s acquisition of Assembly Voting underscores its dedication to powering the meetings and elections that matter for trusted decisions worldwide.

-- BERNAMA

MALAYSIA’S NON-LIFE INSURANCE SECTOR REMAINS STABLE DESPITE CLIMATE RISKS - AM BEST

KUALA LUMPUR, Dec 18 (Bernama) -- Global credit rating agency, AM Best has maintained a stable outlook on Malaysia’s non-life insurance segment, citing sustained underwriting and pricing discipline.

In a statement, AM Best said the stable outlook was also driven by expected premium growth backed by regulatory reforms designed to increase insurance penetration.

The Best’s “Market Segment Outlook: Malaysia Non-Life Insurance” report states that the non-life sector is poised for significant growth, underpinned by economic recovery, rate hikes due to high inflation and rising claims, as well as growing demand for digital insurance and takaful products.

Malaysia’s central bank and lead regulator have implemented various initiatives to improve non-life insurance penetration, which remains in the low single digits. By 2026, the goal is to achieve an insurance/takaful penetration rate of 4.8 to 5.0 per cent alongside doubling microinsurance/microtakaful coverage.

Additionally, growth in general takaful contributions has consistently outpaced that of conventional insurance in recent years, a trend expected to continue over the medium term.

At the same time, Malaysia’s non-life insurers face rising climate-related risks, with more frequent severe weather events affecting underwriting performance.

AM Best director, head of analytics, Victoria Ohorodnyk indicates that, while recent premium rate increases following significant flooding in 2021 have provided some relief, the sector remains vulnerable to the ongoing volatility from climate risks, especially in fire-related insurance.

Meanwhile, the continued de-tariffication of motor and fire insurance is expected to increase pressure on pricing over the near to medium term while strengthening the industry’s long-term sustainability, as well as drive product innovation.

-- BERNAMA

NIKE, INC. & NFL EXTEND LONG-STANDING PARTNERSHIP THROUGH 2038

Renewed partnership to emphasize global expansion, player safety and youth football initiatives

DALLAS, Dec 12 (Bernama-BUSINESS WIRE) -- NIKE, Inc. (NYSE: NKE) and the National Football League (NFL) today announced a landmark 10-year partnership extension, cementing their commitment to shaping the future of football and driving growth, innovation, and progress across the sport.

Building on 12 years of successful collaboration as the exclusive provider of uniforms and sideline, practice and baselayer apparel for all 32 NFL teams, Nike is poised to elevate its partnership to new heights. With a relentless pursuit of innovation and a deep understanding of the unique needs of NFL players, Nike will deliver cutting-edge, high-performance products that adapt to the evolving demands of the game’s elite athletes. As a result, the partnership will not only shape the future of the sport but also drive a new era of excellence in football – fostering a global, inclusive, and safer environment for football players of all levels to thrive.

"This partnership renewal is a testament to the strength and success of our collaboration with the NFL. As we embark on this new chapter, we're committed to co-creating cutting-edge solutions that meet the rapidly changing needs of NFL athletes and fans, while fueling the league's growth and development initiatives,” said Elliott Hill, President & CEO of NIKE, Inc.

Key Initiatives of the Nike-NFL Partnership:

·  Global Expansion: Nike and the NFL will work together to grow the game’s global reach, increasing participation, developing new talent, and expanding the football fan base.
·  Player Health and Safety Commitment: Nike and the NFL will leverage Nike’s Sport Research Lab and product design and innovation expertise to address lower extremity injuries and enhance footwear safety.​​​​​​​​​​​​​​​​
·  Football Development: Nike will continue to empower the next generation of athletes and grow the sport by supporting grassroots, high school and collegiate level development programs across both flag and tackle football.
·  Storytelling and Fan Engagement: The partnership will bring football’s most compelling narratives to life, connecting with fans in new and innovative ways through Nike’s unparalleled marketing and storytelling expertise. 

http://mrem.bernama.com/viewsm.php?idm=50002

AM BEST AFFIRMS CREDIT RATINGS OF QIANHAI REINSURANCE CO., LTD.

HONG KONG, Dec 12 (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 Qianhai Reinsurance Co., Ltd. (QHR) (China). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect QHR’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.

QHR’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), remained at the strongest level at year-end 2023. Capital and surplus grew by 4.3% to RMB 3.5 billion (USD 500 million) in 2023, and further increased by 6.2% in the first three quarters of 2024, underpinned by the company’s full retention of net profit. Going forward, AM Best expects QHR to continue to receive financial support from its major shareholders and explore opportunities in capital markets to bolster its capital structure. The company has a diversified investment portfolio that is focused on cash and fixed-income securities, albeit with a moderate exposure to debt-type alternative investments.

QHR has remained profitable over the past few years, with a five-year average return-on-equity ratio of 4.3% (2019-2023). In 2023, the company posted a 77% year-on-year surge in net profit, due to the recovery of capital markets and investment valuations, which led to a growth in investment income. The company remained profitable during the first nine months of 2024.

The life reinsurance segment remains as the major driver of underwriting results. QHR continues to commit resources and strengthen its business relationships with China insurers and distribution partners to tap growth potential in traditional protection products. Additionally, the company has adopted a prudent approach toward expanding savings products in view of heightened challenges in asset-liability matching risk and scaling down its financial reinsurance business in consideration of changes in regulations and market demand. In terms of non-life reinsurance, the underwriting portfolio is diversified by product line with a focus on China’s non-catastrophe risks as it rebalanced its overseas book to improve business quality. QHR’s non-life segment’s combined ratio recorded a slight uptick in 2023, driven by an increase in the commission ratio while partially offset by a decrease in the loss ratio. Interest income from deposits, coupled with returns from bonds, equities and financial products, has continued to support QHR’s overall investment results over the past eight years.

QHR is a composite reinsurer controlled by three Chinese state-owned enterprises and plays a strategic role in the development of the Qianhai Free Trade Zone. Over the past few years, the company has continued to strengthen its market presence, while maintaining a profit-driven underwriting strategy.

Negative rating actions could occur if QHR’s risk-adjusted capitalisation declines significantly due to adverse deviation from its business and capital management plans, for example, much faster-than-expected expansion in underwriting and investment risks. Negative rating actions also could occur if the company demonstrates a sustained and adverse deterioration in its operating performance. Positive rating actions could arise if QHR’s domestic and overseas underwriting portfolios demonstrate sustained and favourable operating results that strengthen its overall operating performance, while its very strong balance sheet strength remains unchallenged.

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 © 2024 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/20241211792460/en/

Contact

Stephanie Mi
Senior Financial Analyst
+852 2827 3402
stephanie.mi@ambest.com

James Chan
Director, Analytics
+852 2827 3418
james.chan@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

--BERNAMA

Malaysia’s Lonpac Insurance Receives Excellent Ratings from AM Best

KUALA LUMPUR, Dec 12 (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 Malaysia’s Lonpac Insurance Bhd (Lonpac).

In a statement, AM Best said these credit ratings (ratings) have a stable outlook, which reflected Lonpac’s balance sheet strength, was assessed as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

Lonpac’s risk-adjusted capitalisation was at the strongest level at year-end 2023, as measured by Best’s Capital Adequacy Ratio, and is expected to remain at this level over the near to medium term. During the past five years (2019-2023), the company has demonstrated strong capital growth from retained earnings, taking into account the high dividend payout ratio over this period.

In addition, Lonpac has a generally conservative investment portfolio comprising cash, bonds and debt-focused unit trust funds. However, AM Best considers the company to have a moderate dependence on third-party reinsurance to support the underwriting of large-limit risks and manage its catastrophe exposures.

In December this year, Public Bank Berhad (PBB) acquired a 44.15 per cent stake in LPI Capital Bhd (LPI), Lonpac’s ultimate parent, from the estate of the late founder, Tan Sri Teh Hong Piow and Consolidated Teh Holdings Sdn Bhd, making PBB the largest shareholder of LPI. It is AM Best’s view that the transfer of shares will have a neutral impact on the credit rating fundamentals of Lonpac.

Lonpac’s operating performance is strong, supported by robust underwriting results, particularly in the property and bond sectors. Low net loss experience and favorable reinsurance commission income in recent periods have supported strong technical profitability.

Whilst AM Best expects the company to maintain its strong operating performance over the medium term, the elevated cost of reinsurance, as well as the ongoing phased liberalisation of motor and fire insurance pricing in Malaysia, may constrain underwriting margins over the near to medium term.

AM Best views Lonpac’s business profile as neutral, as it is a medium-size non-life insurer in Malaysia, with a market share of approximately seven per cent, based on 2023 gross written premium. The company’s underwriting portfolio is diversified moderately by line of business, albeit with the majority of business originating from Malaysia.

Lonpac benefits from a long-standing relationship with Public Bank Berhad, which provides the company with preferential access to profitable property business through the banking channel.

-- BERNAMA