PDI Technologies, The Retail Marketeers Honour Six Women In Europe’s Convenience Retail, Mobility Sectors

KUALA LUMPUR, May 11 (Bernama) -- PDI Technologies and The Retail Marketeers announced the recipients of the 2026 European Female Leaders in Convenience Awards, recognising women leaders in Europe’s convenience retail and mobility sectors.

Presented by PDI Technologies for the second consecutive year, the awards programme honours executives for leadership, innovation and strategic contributions across the industry, according to a statement.

The initiative builds on the inaugural 2025 programme and aims to increase visibility for women in senior leadership positions as the sector navigates digital transformation, changing consumer behaviour and the energy transition.

The recipients were selected by a nomination committee and judging panel chaired by PDI Technologies executive vice president and general manager, International, Dawn Desai, and The Retail Marketeers owner and managing director, Christian Warning.

Desai said the programme highlights leadership combining operational performance, strategic direction and customer-focused innovation during a period of industry transformation.

Meanwhile, Warning said the awards recognise the growing role of women leaders in shaping the future of the convenience and mobility sectors across Europe.

The 2026 recipients are Agnieszka Bobrukiewicz, Alicia Cruzado Lopez, Louise Eckford, Judy Glover, Zsuzsa Hordai and Anna Wallenberg.

Together, the 2026 honourees represent a cross-section of Europe’s convenience and mobility industries, spanning fuel retail, hospitality, merchandising and strategic operations.

The awards ceremony is scheduled to take place on Nov 11 during The Retail Marketeers Convenience Leaders Convention 2026 in Hamburg, Germany.

-- BERNAMA

AM Best Assigns Credit Ratings to Tokio Marine Newa Insurance Co., Ltd.

HONG KONG, May 11 (Bernama-BUSINESS WIRE) -- AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Tokio Marine Newa Insurance Co., Ltd. (TMNewa) (Taiwan). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect TMNewa’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. The ratings also factor in the rating enhancement from its parent, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), which is the main insurance operating entity of Tokio Marine Holdings, Inc.

Established in 1999 by Yulon Group, a major automobile conglomerate in Taiwan, and later partnered with Tokio Marine Group, TMNewa is the fourth largest non-life insurer in Taiwan, with a 7.6% market share in 2025. TMNF is currently the controlling shareholder with a 50.18% stake, while Yulon Group has a collective shareholding of 49.48% via its subsidiaries, namely China Motor Co., Ltd., Yulon Motor Co., Ltd. and Yulon Finance Co., Ltd. Leveraging Yulon Group’s extensive network of car dealers, motor insurance is the largest product line in TMNewa’s underwriting book, constituting approximately 70% of gross premiums written in 2025, followed by other key products including commercial fire, casualty, and accident and health.

TMNewa’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), was assessed at the strongest level at year-end 2025, and is expected to further improve over the short to intermediate term. The company’s capital and surplus (C&S) has grown robustly through full profit retention, in addition to significant recovery from four rounds of material capital injections from shareholders in 2022 and 2023, after experiencing material underwriting loss from pandemic-related products. Other supporting factors include a conservative investment portfolio heavily weighted toward cash and high-quality fixed-income investments, financial flexibility from shareholders and supportive liquidity.

AM Best views TMNewa’s operating performance as adequate, as demonstrated by a track record of favourable operating performance, apart from a one-time underwriting loss in 2022. The company reported modest top-line growth in 2025, partially attributed to slower expansion in the major motor and commercial fire lines, following a period of double-digit expansion between 2022 and 2024. The return on equity (based on adjusted C&S) was 25.7% in 2025, supported by an improved net loss ratio, due to continued control over claims experience in two major product lines. The expense ratio benefits from the company’s sustained control over management expenses and commissions, along with the increased scale, and remains below the market average. The company’s investment portfolio continues to generate favourable results, supported by steady income streams from interest and dividend. Going forward, TMNewa is targeting profitable growth in non-motor business lines, including fire and liability insurance for small to medium-sized enterprises, while being disciplined on large commercial risks.

As a subsidiary of TMNF, the company receives various implicit support from TMNF, including management oversight, risk framework and governance, underwriting know-how, product development, investment and innovation.

Negative rating actions could occur if there is a material deterioration in TMNewa’s balance sheet strength assessment. Negative rating actions also could arise if there is a reduced level of support from the parent company, which may have a negative impact on TMNewa’s ratings. Although it is unlikely in the near term, positive rating actions could occur if TMNewa is able to achieve sustained improvement in its operating performance, while its balance sheet strength fundamentals remain robust.

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: 
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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

​VCI Global Enters Binding Term Sheet for Strategic Investment in Brazil Gold Asset, Advancing Integration of Physical Gold into RWA and Digital Asset Treasury Strategy

Structured Entry with Operational Role and Potential Majority Ownership, within A Sector Defined by Institutional Scale Gold M&A Activity

KUALA LUMPUR, Malaysia, May 8 (Bernama-GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”), today announced that it has entered a binding term sheet in relation to a proposed strategic investment in a gold mining asset located within an established gold-producing region in Brazil.

Based on preliminary technical information provided to the Company, the asset is estimated to contain approximately 59.9 tonnes of gold resources (equivalent to approximately 1.9 million ounces). This estimate is preliminary in nature and subject to further technical validation, independent verification, and compliance with applicable mineral resource reporting standards.

Under the terms of the binding term sheet, VCI Global intends to make an initial investment in the project and is expected to assume a role as Engineering, Procurement, and Construction (EPC) partner, subject to the execution of definitive agreements. The Company will also retain an option to increase its ownership interest to up to 51%, subject to the satisfaction of agreed conditions, milestones, and the execution of definitive agreements.

The project remains at an early development stage. Any progression toward development, construction, or potential future production will be subject to technical assessments, permitting, financing arrangements, and operational execution. There can be no assurance regarding timing, development outcomes, or commercial viability.

This proposed investment is aligned with the Company’s broader capital allocation strategy, including its ongoing evaluation of real-world asset (RWA) initiatives and digital asset infrastructure. The Company continues to assess how physical commodity-linked assets, such as gold, may potentially interface with structured financial frameworks under its RWA-focused initiatives. Any such development remains at an exploratory stage and is subject to regulatory, technical, and commercial considerations.

The transaction is expected to be supported by a phased capital deployment plan, which may include funding for further technical studies and development activities. Any potential fundraising activities will be undertaken in accordance with applicable regulatory requirements and prevailing market conditions.

In accordance with the terms of the transaction and for strategic reasons, the identity of the asset and counterparties has not been disclosed at this stage. Further information will be provided as and when appropriate, subject to regulatory and contractual considerations.

“This transaction reflects our disciplined approach to evaluating strategic opportunities within commodity-linked assets. It provides a structured pathway to assess both the technical and operational potential of the project, while remaining subject to due diligence, definitive agreements, and regulatory approvals,” said Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global.

About VCI Global Limited

VCI Global Limited (NASDAQ: VCIG) is an AI-native operating platform designed to scale and optimize businesses through centralized intelligence, data, and capital discipline.

The Company operates a platform-based model in which subsidiaries, affiliates, and portfolio companies plug into VCI Global’s centralized AI, data, governance, and capital allocation systems, enabling faster execution, improved capital efficiency, and scalable growth across multiple industries.

VCI Global’s platform centralizes AI-enabled execution, standardized KPI frameworks, financial and governance controls, and strategic capital allocation, while operating businesses focus on revenue generation, customer relationships, and local execution.

The Company maintains exposure across advisory, AI, and digital infrastructure, digital assets, energy, automotive, and consumer sectors, and continuously evaluates opportunities to scale, spin off, divest, or discontinue businesses based on performance, scalability, and return on capital.

VCI Global’s platform-centric approach is designed to enhance productivity, improve IPO readiness, and unlock long-term value through disciplined growth and selective capital deployment.

For more information on the Company, please log on to https://v-capital.co/.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

CONTACT INFORMATION:

For media queries, please contact:

VCI GLOBAL LIMITED
enquiries@v-capital.co   

SOURCE: VCI Global Limited 

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

--BERNAMA 

AM BEST AFFIRMS VIETNAM NATIONAL REINSURANCE CREDIT RATINGS

KUALA LUMPUR, May 4 (Bernama) -- AM Best has affirmed the financial strength rating of B++ (Good), the long-term issuer credit rating of “bbb+” (Good), and the Vietnam National Scale Rating of aaa.VN (Exceptional) of Vietnam National Reinsurance Corporation (VINARE).

The outlook of these credit ratings (ratings) is stable, reflecting VINARE’s very strong balance sheet strength, strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

VINARE’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which was at the strongest level at year-end 2025 and is expected to remain at this level over the medium term.

Offsetting factors include moderate investment risk driven by equity holdings, as well as reliance on retrocession for large commercial risks, although associated credit risks are partly mitigated by the sound quality of counterparties, according to AM Best in a statement.

The global credit rating agency assesses VINARE’s operating performance as strong, supported by its five-year average return-on-equity ratio of 10.8 per cent (fiscal years 2021 to 2025).

The company has generated robust underwriting profits, supported by favourable underwriting performance of its commercial businesses, although partially offset by a higher expense ratio. Investment income remains the key contributor to its overall earnings, with a net investment income ratio of 22.6 per cent in fiscal year 2025.

Prospectively, AM Best expects VINARE to maintain strong operating performance, supported by its core commercial business and stable investment income.

As Vietnam’s national reinsurer, VINARE benefits from long-standing relationships with local cedants and derives the majority of its premium from the domestic market. The company maintains a well-diversified underwriting portfolio across business lines, although it remains exposed to elevated product risk due to its sizable commercial and industrial risk exposure.

VINARE’s ERM is assessed as appropriate, supported by its risk management framework and technical expertise, including support from its second-largest shareholder, Swiss Reinsurance Company Ltd.

-- BERNAMA

ION EXCHANGE, MANN+HUMMEL PARTNER ON ADVANCED MEMBRANE SOLUTIONS

KUALA LUMPUR, May 4 (Bernama) -- Ion Exchange (India) Ltd, a global total water and environment management solutions provider, has entered into a strategic collaboration with MANN+HUMMEL to manufacture advanced membrane solutions and expand technology capabilities in India.

The companies will work together to produce advanced polyvinylidene fluoride (PVDF) ultrafiltration (UF) membranes with integrated UltraSKID systems and will also bring Membrane Bioreactor (MBR) technology to India.

The partnership combines MANN+HUMMEL Water & Membrane Solutions’ global expertise in membrane technology with Ion Exchange’s manufacturing capabilities, engineering strength and established global presence in water and wastewater treatment.

Ion Exchange Senior Vice President (SVP), Sridhar Padmanaban said the collaboration marked a significant milestone in advancing the company’s HYDRAMEM membrane solutions.

“It is an important step in our journey to deliver differentiated, high-performance and sustainable solutions to customers across global markets,” he said in a statement.

Meanwhile, MANN+HUMMEL Water & Membrane Solutions SVP and General Manager, Rohit Sathe said the partnership brings together complementary strengths to enhance the availability of high-performance filtration solutions, supporting evolving customer needs across markets.

Under the agreement, Ion Exchange will manufacture, integrate systems and commercialise PVDF hollow fibre ultrafiltration membranes with UltraSKID systems based on MANN+HUMMEL’s advanced technology.

Production will take place at Ion Exchange’s expanded state-of-the-art HYDRAMEM membrane manufacturing facility in Goa, India, supporting both domestic and international demand.

The collaboration is expected to improve supply resilience, reduce lead times and deliver advanced membrane solutions more efficiently through localised manufacturing.

-- BERNAMA

LyondellBasell completes sale of select European strategic assessment assets

 

Transaction with AEQUITA advances company’s portfolio realignment


ROTTERDAM, Netherlands, May 4 (Bernama-GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB) today announced that it has successfully completed the sale of select European olefins and polyolefins assets, and the associated business and corporate functions, to AEQUITA as a key milestone in the company’s European strategic assessment. The transaction follows completion of required employee information and consultation processes and satisfaction of customary regulatory and closing conditions.

The divestiture supports the company’s strategy to grow and upgrade the core by further concentrating on assets and businesses with durable competitive advantages and stronger long-term returns, while enhancing financial flexibility and supporting disciplined capital allocation.

The assets sold in the transaction are located in Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain). LYB will continue to operate its Advanced Polymer Solutions (APS) business in Tarragona.

“This transaction represents a pivotal achievement in our transformation,” said Peter Vanacker, chief executive officer of LyondellBasell. “By finalizing this sale, we have refined our portfolio and enhanced our capacity to allocate capital toward high-return opportunities that contribute to long-term value creation.” 

Vanacker added, “Europe remains an integral market for LYB; we will continue to invest where value creation is strong, reinforcing our leadership in specialty polymers, building a profitable Circular & Low Carbon Solutions business, and advancing our leadership in technology and innovation. We extend our gratitude to our colleagues transferring as part of this transaction for their contributions, professionalism, and resilience throughout the process. As they transition to a standalone business under AEQUITA ownership, we wish them and the new company success in the next chapter ahead.” 

Following today’s closing, the divested business will be named and operated as Velogy. 

“This closing marks an important step in building a scaled and competitive European polymers platform, a sector where we see strong fundamentals and attractive long-term value creation potential,” said Dr.-Ing. Axel Geuer, AEQUITA-Founder and Chairman. “We thank LyondellBasell for the constructive collaboration throughout the process and are excited to begin the next step of partnering with Velogy’s employees to reinforce and further enhance the Company’s leading services to customers and suppliers.”

LYB remains committed to operating its remaining assets safely and reliably and to continuing to serve customers and partners with the same high standards. 

Advisors 
Citi and J.P. Morgan Securities LLC acted as financial advisors, and Linklaters LLP acted as legal counsel to LyondellBasell.

About LyondellBasell 
We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors, and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

About AEQUITA 
AEQUITA is a Munich-based industrial group investing in corporate carve-outs, succession situations, and transformational opportunities across Europe, North America, and Asia. Its portfolio companies generate more than EUR 10 billion in revenues across three segments — automotive, chemicals, and industrials — and employ over 19,000 people worldwide. Backed by a strong capital base and deep operational expertise, AEQUITA acquires and sustainably develops companies with long-term value creation potential. For more information, visit www.aequita.com.

Media Inquiries LYB Global 
LyondellBasell Media Relations 
Phone: +1-713-309-7575 
Email: mediarelations@lyondellbasell.com
Or: 
Media Inquiries LYB Europe 
Esther Clason, Communications EMEAI 
Phone: +31 6 388 269 30 
Email: Esther.Clason@lyondellbasell.com

Media Inquiries AEQUITA SE & Co. KGaA 
Kolja Hübner, Partner 
Gabrielenstr. 9, 80636 Munich 
Phone: +49 89 2620 4840-0
Email: contact@aequita.com 

Forward-Looking Statements LYB 
The statements in this release relating to matters that are not historical facts are forward-looking statements. Actual results could differ materially based on factors including, but not limited to, our ability to align our asset base with our strategic goals; our ability to create long-term value for our stakeholders; and our ability to build a profitable Circular & Low Carbon Solutions business. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2025, which can be found at www.LyondellBasell.com on the Investors page and on the Securities and Exchange Commission’s website at www.sec.gov. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law.  


SOURCE: LyondellBasell

MODON SELLS OUT TARA PARK PROJECT, NEARS 2 BLN EMIRATI DIRHAM IN SALES

 

Modon announces the sell-out of Tara Park on Reem Island, Abu Dhabi, generating nearing AED 2 billion in sales (Photo: AETOSWire)

KUALA LUMPUR, May 4 (Bernama) -- Modon, an Abu Dhabi-headquartered international holding company, has announced the sell-out of Tara Park on Reem Island, with the project generating nearly two billion Emirati dirham in sales. (100 Emirati dirham = RM107.65)

The development is located close to Abu Dhabi Global Market (ADGM), reflecting strong investor demand and reinforcing the emirate’s position as a global safe-haven investment destination, according to Modon in a statement.

Modon Holding Group Chief Executive Officer, Bill O’Regan said the project demonstrates sustained market confidence.

“Tara Park further validates Modon’s disciplined, market-driven approach, connecting a prime location and thoughtful placemaking to generate sustainable urban growth and long-term value.

“We continue to see strong demand across the market, which speaks to the confidence that local and international buyers continue to place in Abu Dhabi, particularly for projects where clear attention to quality of life supports future investment potential,” he said.

Tara Park comprises six residential towers with 834 apartments across one-, two-, and three-bedroom layouts that are interlinked by an active podium that connects residents to a wide range of amenities.

Connected to Reem Mall, Tara Park also offers easy access to Fay Park, Sorbonne University Abu Dhabi and Repton School, alongside proximity to Abu Dhabi’s international financial hub, ADGM, The Galleria Mall, and the wider city.

-- BERNAMA