KUALA LUMPUR, March 31 (Bernama) -- Duck Creek Technologies (Duck Creek) announced the completion of its acquisition by Vista Equity Partners (Vista), a global investment firm, for US$19.00 per share, in an all-cash transaction valued at approximately US$2.6 billion. (US$1=RM4.41)
“We are excited to commence our partnership with Vista Equity Partners and work together to advance the next generation of P&C (property and casualty) insurance technology.
“With Vista’s global network and deep sector expertise, we will be better positioned to support and accelerate the industry’s transition to the cloud while continuing to deliver a best-in-class customer experience,” said Duck Creek Chief Executive Officer, Michael Jackowski in a statement.
Meanwhile, Vista Managing Director, Jeff Wilson said: “Their commitment to excellence and innovation coupled with Vista’s experience in driving sustainable growth will take the business to new heights while delivering solutions that help carriers transform their business.”
Duck Creek has earned the right to partner with and provide its modern technology solutions to an esteemed list of leading carriers across the globe, including Berkshire Hathaway Specialty Insurance, Hollard Insurance, Northbridge Financial Corporation and Tokio Marine.
With the completion of the transaction, Duck Creek Technologies shares have ceased trading and are no longer listed on the Nasdaq Global Select Market.
Duck Creek is an intelligent solutions provider defining the future of the P&C and general insurance industry. Its market-leading solutions are available on a standalone basis or as a full suite.
-- BERNAMA
Friday, 31 March 2023
VISTA EQUITY PARTNERS COMPLETES DUCK CREEK ACQUISITION
HKTB: Physical 100 contender Choo Sung-hoon Discovers Hong Kong in 100 hours
KUALA LUMPUR, March 30 (Bernama) -- Hong Kong Tourism Board (HKTB) announced that Korean mixed martial arts fighter Choo Sung-hoon, has toured Hong Kong, discovering the hidden gems of the city solo dolo.
According to HKTB in a statement, the contender from NETFLIX Physical 100 recently came to town for the "Pro-Am Tournament" for the World City Championship presented by the Hong Kong Golf Club.
Following the tournament, Choo was invited by HKTB onto a day tour in Hong Kong specially designed for the suave and sophisticated.
His day time itinerary included a deluxe party tram ride on Hong Kong island; dim-sum tasting in Woo Cheong Tea House in Wan Chai, as well as refined suit making at century-old custom tailor Loa Hai Shing.
“Like other Koreans, I have been really missing Hong Kong, especially the food and the attractions. Hong Kong is such a charming city where you never get bored because there is always something new,” said Choo, recalling that the last time he visited Hong Kong was seven years ago.
“My wife and daughter Sarang were here with me on this trip. They headed off to world class art happenings in town including Art Basel while I got to enjoy some me time.
“I was here for around 100 hours and it was just as challenging as Physical 100 since I had to explore the city one could never get enough of. What impressed me the most was the TramOramic Tour Tram. A century-old vehicle traversing a metropolis is just so symbolic of Hong Kong, a city that blends the Old perfectly with the New,” he added.
This March, from a series of world-class art events to the Hong Kong Sevens, Hong Kong is teeming with exciting activities, in addition to the highlight of Choo’s tour in the city.
-- BERNAMA
Thursday, 30 March 2023
TDCX LEVELS UP IN VIETNAM TO HELP ITS GAMING CLIENTS DELIVER A GOOD GAME
TDCX launches Vietnam campus in District 4, Ho Chi Minh City. (Photo: Business Wire)
NYSE-listed digital customer experience solutions provider expands its Southeast Asian footprint with the opening of its 28th campus
HO CHI MINH CITY, Vietnam & SINGAPORE, March 30 (Bernama-BUSINESS WIRE) -- 34-year-old, Minh Quan Lam is a passionate gamer who brings his skills in creative thinking, problem-solving and gaming knowledge to his role as an operations manager. He is part of a global team of more than 360 specialists at TDCX, (NYSE: TDCX), a high-growth digital customer experience (CX) solutions provider for technology and blue-chip companies, that is helping global gaming companies deliver a good game.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230328005540/en/
Vietnam is an attractive destination for companies to locate their outsourced services. The market was ranked as the world’s sixth most competitive global business services location according to Kearney’s 2021 Global Services Location Index. In line with that, Vietnam’s Business Process Outsourcing market is expected to show an annual growth rate (CAGR 2023 – 2027) of 10 per cent, representing a volume of US$650 million by 20271.
Mr. Byron Fernandez, Group Chief Information Officer and EVP, TDCX, said, “Vietnam has all the essential ingredients to become a key player in the outsourcing market. It has strong IT infrastructure and is home to a skilled and youthful talent pool, making it one of the hottest hubs for brands. Through our conversations with potential candidates in the market, they are driven, enthusiastic and committed. This is exactly the type of talent that our clients seek.
“The opening of our Vietnam campus gives us the opportunity to harness new talent pools for our clients and to play a part in providing the local workforce with interesting digital economy jobs. As we do so, we will also be able to achieve our strategy of providing greater network coverage and service offerings to our clients.”
Through its entry into the market, TDCX aims to provide quality employment opportunities for the local workforce and to offer training opportunities to upskill the talent pool. It is also hoped that such efforts will contribute to the growth of the country’s growing outsourcing industry.
The campus is helmed by Diep Thi Thanh Thu (Thu Diep), Senior Operations Manager at TDCX Vietnam who has more than a decade of experience in the CX industry. She brings a wealth of expertise in managing market operations and has worked with some of the most established brands in the APAC region. She also oversaw the establishment of TDCX’s campuses in Australia, Japan, and Taiwan.
Setting up social safeguards for gaming
A report shows that by 2027, the video games segment will see the number of users in Vietnam increase to 11.3 million2. The country also has one of the highest percentage of gamers in Southeast Asia3, presenting an opportunity for TDCX to expand its support offerings to the gaming industry while maintaining reliable and comprehensive support for all gaming clients.
Thu Diep said, “Vietnam’s already growing gaming industry received a boost during the COVID-19 pandemic as people turned to online entertainment. As such, we see more gaming companies wanting to engage with Vietnamese consumers to tap the potential of this market. However, it can be challenging for international firms to navigate local regulations, cultural nuances and language barriers. With our Vietnam campus, we will be able to help more companies scale and seize growth opportunities quickly and efficiently through our local expertise.”
TDCX’s Vietnam campus is currently providing omnichannel customer experience and content, trust and safety services for an American video game developer. This involves providing customer support to players and real-time monitoring and resolution of issues. The campus is located in District 4, Ho Chi Minh City.
_____________________________
1 Statista. Business Process Outsourcing - Vietnam | Market Forecast
2 Statista. Video games segment user in Vietnam 2017-2026.
3 Southeast Asia Mashable. The world’s largest internet gamers: 4 Southeast Asian nations dominate top spots.
About TDCX
Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities.
TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, home sharing and travel, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.
TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.
TDCX employs more than 17,800 employees across 28 campuses globally, specifically Singapore, Malaysia, Thailand, Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain, Colombia and Türkiye. For more information, please visit www.tdcx.com.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20230328005540/en/
Contact
For enquiries, please contact:
media@tdcx.com
Source : TDCX
Wednesday, 29 March 2023
NARITA AIRPORT BOASTS CHERRY BLOSSOM VIEWING - CHIBA PREFECTURAL GOVERNMENT
KUALA LUMPUR, March 28 (Bernama) -- Chiba Prefecture offers various ways to enjoy "hanami" or cherry blossom viewing for tourists visiting Japan during the cherry blossoms season.
Narita International Airport, which is conveniently located in Chiba for overseas visitors to explore the surrounding areas, is one of the unique cherry blossom viewing spots, according to Chiba Prefectural Government in a statement.
Cherry blossoms, known as "sakura" in Japanese, bloom for about one to two weeks from late March to early April in Chiba.
There are three unique sakura spots enabling foreign tourists to embark on cherry blossom adventures namely, Sakura-no-Yama Park, Mobara Park and Kominato Railway.
At Sakura-no-Yama Park, visitors can enjoy close-up views of aeroplanes taking off from and landing at Narita International Airport, best enjoyed lounging under the trees with favourite snacks and drinks.
To explore beyond urban Tokyo on a cherry blossom hunt, Mobara Park is a place to go. The park is dotted with 2,850 cherry trees, which is on Japan's TOP-100 CHERRY BLOSSOM SPOTS list published by the Japan Cherry Blossom Association.
The red-coloured "Benten Bridge" over the pond in the middle of the park, surrounded by pink and white cherry blossoms, offers a great photo opportunity, and visitors can enjoy picnicking and strolling in the park.
Additionally, taking a ride on the Kominato Railway is like a trip through a countryside dream, whereby this local, diesel-powered line connects Ichihara City and Otaki Town and features commanding views along the way.
In spring, "nanohana" (canola) flowers and cherry blossoms are in full view along the railway line. Itabu Station is a popular sightseeing spot for heavily photographed cherry trees and visitors are recommended to start at JR Goi Station for the Kominato Line's first stop for a leisurely journey through Chiba's picturesque spring.
-- BERNAMA
FASTLY DELIVERING GREATER VALUE FOR CUSTOMERS, PARTNERS VIA NEW PARTNER PROGRAMME
PROCAP INSURANCE EXPANDS GLOBALLY, PROMOTES INNOVATIVE DEVELOPMENT
CLASSIC PARADE IS NOW AN LTD COMPANY
Tuesday, 28 March 2023
ZOOM EXPANDS ZOOM IQ EMPOWERING COLLABORATION, UNLOCKING PEOPLE POTENTIAL
KUALA LUMPUR, March 28 (Bernama) -- Zoom Video Communications Inc has announced the expansion of Zoom IQ, a smart companion that empowers collaboration and unlocks people’s potential at Enterprise Connect.
According to Zoom in a statement, Zoom IQ summarises chat threads, organises ideas, drafts content for chats, emails and whiteboard sessions, as well as creates meeting agendas, among others.
The company also announced it will use OpenAI to bolster its unique federated approach to artificial intelligence (AI) based on flexibility.
Zoom’s federated approach to AI leverages its own proprietary AI models, those from leading AI companies such as OpenAI and select customers’ own models.
With this flexibility to incorporate multiple types of models, Zoom’s goal is to provide the most value for its customers' diverse needs and these models can also be customised to perform better for a customer, based on their vocabulary and requirements.
“We are excited to bring many more capabilities with new large language models. Our unique approach to AI will give customers the flexibility they want and help significantly improve collaboration and customer relations,” said Zoom chief product officer, Smita Hashim.
Zoom IQ will have a host of new capabilities scheduled to release soon, including Zoom IQ chat compose in which Zoom Team Chat users can soon use the compose feature to help compose messages based on conversational context in addition to changing message tone to customise suggested responses.
In addition, with Zoom IQ email compose, users will get email draft suggestions in response to the conversational context from prior Zoom Meetings, Zoom Phone calls and email threads.
Meanwhile, Zoom IQ meeting summary generates a summary, captures next steps, and shares via Team Chat, Zoom Calendar and email without recording the conversation, so those who did not attend will no longer have to sit through lengthy recordings.
Additionally at Enterprise Connect, Zoom is also showcasing other innovations to make teamwork more meaningful and strengthen customer relationships with Zoom Huddles; Intelligent Director; and Zoom Scheduler.
-- BERNAMA
AirSeed Technologies germinates Series A fund up to AU$200 mln
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| Caption: AirSeed Drone 2 |
KUALA LUMPUR, March 27 (Bernama) -- Environmental restoration disruptor, AirSeed Technologies has announced its partnership with leading impact investment manager Conscious Investment Management (CIM) establishing a carbon sequestration fund of up to AU$200 million. (AU$1=RM2.94)
According to a statement, AirSeed and CIM expect the restoration and carbon sequestration projects to generate meaningful upfront revenue to AirSeed over the next five years in service provider revenue to conduct planting.
This is AirSeed's first large-scale contract with a leading impact investment manager and will be key to creating one of the largest carbon sequestration funds of its kind. It validates the company’s value proposition for large-scale application of its hyper productive planting solution.
To support this, AirSeed is launching its Series A capital raise to provide additional funds to execute this milestone contract and scale the business to maximise on this transformative opportunity.
“Securing an agreement to work with CIM as it establishes one of the largest carbon sequestration funds of this type is important validation of our value proposition for large-scale application of our solution and brings us significantly closer to our 100 million planting goal by 2024.
“Launching our Series A funding round will drive AirSeed's delivery of this massive opportunity and continue the transformation of our business to meet the rapidly growing appetite for reforestation and replanting opportunities at the scale necessary to help shift the dial on climate change,” said its Chief Executive Officer & Co-Founder Andrew Walker.
Meanwhile, CIM's Partner Alex Debney said: “We are delighted to welcome AirSeed as a new impact partner in the environmental sector. We look forward to delivering carbon sequestration and native Australian reforestation at institutional scale by working closely with AirSeed.”
AirSeed has also confirmed highly respected climate transition and business specialist Mara Bún as the latest addition to the Board.
With a long track record in climate, nature and impact campaigns and solutions, Bún is Chair of Australian Impact Investments and a non-executive Director of Australian Ethical Investments and GreenCollar, Australia's largest environmental markets investor.
AirSeed is on track to achieve 100 million pods planted by 2024. Pilot projects already underway in Australia across Victoria, New South Wales and Queensland covering more than 650 hectares and include one of the largest environmental planting to date in Australia.
-- BERNAMA
Business messaging traffic swells 2.8 trillion by 2027 - Juniper Research
This growth of 45 per cent over the next four years will be driven by Rich Communication Services (RCS) business messaging which is anticipated to surpass 630 million messages by 2027; playing an increasingly important role in platform vendors’ business messaging revenue.
As part of the study, Juniper Research released its latest Competitor Leaderboard for 2023. Underpinned by a robust scoring methodology and coupled with participant interviews, the new Competitor Leaderboard ranked the top 20 leading mobile messaging platforms, using criteria such as the completeness of their solutions and their future business prospects.
According to Juniper Research in a statement, the top five vendors for 2023 are Infobip, CM.com, Vonage, Route Mobile and Sinch.
The research found that the leading players scored well on the comprehensiveness of their platforms and their support for rich media technologies, most notably RCS.
The report warned that a potential new challenge is emerging in the form of the Global System for Mobile communications Association (GSMA)’s Open Gateway programme, enabling the development of new authentication services that could provide a low-cost alternative to business short messaging service (SMS).
These emerging authentication services will provide direct competition to authentication use cases, such as Multi-factor Authentication (MFA) and One-time Passwords (OTPs), causing the growth of SMS revenue for these messaging vendors to slow over the next four years.
In turn, the report urges messaging vendors to develop and monetise RCS messaging services that leverage the conversational nature of the technology to counter this slowing growth.
-- BERNAMA
CHITOSE BEGINS OPERATING WORLD'S LARGEST MICROALGAE PRODUCTION FACILITY
According to CHITOSE in a statement, it plans to establish the stable, continuous and large-scale production of microalgae, and its production technology aims at proceeding with the development of applications for a wide range of industrial materials, including fuels and plastics.
CHITOSE aims for zero carbon emission through photoautotrophic microalgae production and through the MATSURI (meaning "festival" in Japanese) project, which is designed to establish a microalgae-based industry replacing the petroleum-based industry.
At the same time, the company plans to develop diverse products used in daily life from microalgae, including fuels, plastics, foods and toiletry, in collaboration with its business partners.
Backed by the Japanese government-funded New Energy and Industrial Technology Development Organization, C4 is expected to demonstrate the efficient and scalable production of microalgal biomass (utilising photobioreactor technologies) and to produce 350 dry tonnes of microalgal biomass per year, fixing 700 tonnes of carbon dioxide (CO2) per year.
At C4, gas exhausted from a neighbouring coal-fired power plant is used as a carbon source, and the produced microalgal biomass will be used for sustainable production of sustainable aviation fuel (SAF) and other products.
Towards 2030, CHITOSE is planning to expand the production to 2,000 ha and is currently in the process of raising funds for this move.
In algae production on a scale of 2,000 ha, approximately 140,000 dry tonnes of microalgal dry-biomass per year will be produced, and the production cost will be less than US$2.5 per kg biomass. (US$1=RM4.38)
Further, it also aims to expand the production to over 10,000,000 ha, which is approximately 1/20 of the world's maize-harvested area and will produce 700 million dry tonnes of microalgal biomass annually, hence the production cost will potentially fall to less than US$0.5 per kg biomass.
-- BERNAMA
Monday, 27 March 2023
HARU INVEST SECURES VIRTUAL ASSET SERVICE PROVIDER AUTHORISATION TO OPERATE IN LITHUANIA
KUALA LUMPUR, March 27 (Bernama) -- Haru Invest, a digital asset management platform, announced Haru EU Limited UAB, its European Union (EU) incorporated subsidiary, has become an authorised Virtual Asset Service Provider (VASP) for its EU operation based in Lithuania.
As a VASP authorised business, Haru Invest can now provide crypto exchange and wallet/custody service, opening up a pathway to becoming a fully-fledged cryptocurrency exchange with a fiat gateway.
“Obtaining a VASP registration is one of many milestones for our company, and it will help build trust in the crypto industry for our members by providing secure and compliant digital asset management services,” said its Chief Executive Officer, Hugo Lee.
According to Haru Invest in a statement, this VASP authorisation officially allows the company to support the Euro currency directly, enabling EU countries to buy and trade between crypto and Euro seamlessly.
As part of the VASP registration process, Haru Invest has undergone a thorough evaluation of its compliance and risk management procedures, as well as due diligence on its corporate governance and business operations.
Lithuania has emerged as a leader in the European crypto industry, known for its crypto-friendly regulatory environment, and is home to growing blockchain businesses.
Evaluated as a fintech hub in the EU with leading-edge finance infrastructure, Haru Invest aims to expand its business starting in Lithuania.
With users in over 140 countries, Haru Invest is committed to educating and guiding crypto owners at all levels to achieve stable and profitable digital asset investment goals.
-- BERNAMA
Saturday, 25 March 2023
Power on: Ionblox adds Dr Shirley Meng to advisory board
KUALA LUMPUR, March 24 (Bernama) -- California-based advanced lithium-ion battery company, Ionblox has appointed Dr Shirley Meng, a Professor of Molecular Engineering at the University of Chicago to its advisory board.
Meng is also the Chief Scientist for Argonne Collaborative Center for Energy Storage Science, and holds a PhD in Advanced Materials for Micro and Nano Systems.
In a statement, Ionblox chief technology officer and co-founder, Dr Herman Lopez said the company is thrilled to welcome Meng to its advisory board and looks forward to leveraging her battery insights and expertise.
“Dr Meng’s support of Ionblox’s unique pre-lithiated silicon oxide anode technology is a signal to the industry that we are leading the path toward the next generation of e-mobility applications,” he added.
Meanwhile, Meng said she looks forward to working with the Ionblox team to commercialise their high-performance lithium-ion batteries using a pre-lithiated silicon oxide anode.
At her current positions, Meng focuses her research on energy storage materials and systems, specifically on rechargeable batteries for electric vehicles, power sources for Internet of Things and sustainable grid-scale storage.
She founded the Sustainable Power and Energy Center at the University of California, San Diego, and was the inaugural director at the Institute for Materials Discovery and Design.
In 2022, Ionblox received a new United States Advanced Battery Consortium (USABC) contract to develop low-cost and fast-charge silicon-based cells for electric vehicles.
This partnership with USABC will continue to help scale-up the electrification of vehicles across the country and will become especially strong under Meng’s guidance.
-- BERNAMA
Thursday, 23 March 2023
Sun Hung Kai Properties Insurance Ltd Credit Ratings affirmed - AM Best
KUALA LUMPUR, March 22 (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 Sun Hung Kai Properties Insurance Limited (SHKPI), Hong Kong.
The outlook of these Credit Ratings (ratings) is stable, reflecting AM Best’s expectation that SHKPI will maintain its strong operating performance, supported by a continued profitable underwriting portfolio, low acquisition cost structure and positive investment returns in the intermediate term.
The ratings reflect SHKPI’s balance sheet strength, which AM Best assessed as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
SHKPI’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, is maintained at the strongest level, according to a statement.
The company’s higher-risk assets, including non-investment-grade bonds and unlisted equities, and some sector concentration in the company investment portfolio exposed its risk-adjusted capitalisation to considerable market and credit risks.
However, investment exposure to higher-risk assets was decreased during fiscal year 2022, and AM Best considers the company’s capital buffer sufficient to absorb the associated investment risks.
Though SHKPI’s operating performance during fiscal year 2022 was negatively affected by deterioration in investment performance, its overall operating performance has been consistently strong and above the market average over the past few years.
Supported by its parent in distribution with minimal gross acquisition expenses, SHKPI’s underwriting results continue to outperform industry peers.
SHKPI is a wholly owned subsidiary of Sun Hung Kai Properties Limited, one of the largest property development and investment conglomerates in Hong Kong, benefiting from its parental network to write most of its business from associated and subsidiary companies.
For more information, visit www.ambest.com.
-- BERNAMA
THE LARGEST PRAYER WHEEL IN GUINNESS WORLD RECORDS AMAZED THOUSANDS OF VISITORS IN DALAT, VIETNAM
DALAT, Vietnam, March 21 (Bernama-GLOBE NEWSWIRE) -- The Great Prayer Wheel “Drigung Kagyu Rinchen Khorchen Khorwe Go Gek,” located at Samten Hills cultural and spiritual tourist complex in Dalat, Vietnam, was officially inaugurated on March 11th, 2023, certified by the Guinness World Records as the world's largest prayer wheel.
The Great Prayer Wheel is made of pure copper, inlaid with 24K gold, weighing 200 tons, 37.22 meters in height and 16.53 meters in diameter. Its unique design and enormous size make it an architectural wonder that has attracted global visitors. Its intricate details, beautiful colors, and breathtaking view of the surrounding hills and forests create a serene and peaceful atmosphere that inspires reflection and contemplation.The Guinness World Records recognition strongly promotes the image of the Great Buddhist prayer wheel in the Vajrayana Buddhist spiritual complex at Samten Hills Dalat and the beauty of Lam Dong province to the world. This way, Samten Hills Dalat became a symbol of friendship, peace, and diplomatic culture between Vietnam, India, and many other countries.
The space of Vajrayana Buddhism in Samten Hills Dalat is a rare, unique construction rich in cultural value. It is made with Nepal painters' ancient art. Each line and pattern is made by the artists' concentration and the union of body and mind, carrying deep and mysterious meanings.
Visitors can admire beautiful paintings of Buddhas, Bodhisattvas, and Sanghas with sophisticated details that cannot be found anywhere else, such as the intriguing similarity between fine lines created by painters from the Himalayas and those drawn by artists of the Ly Dynasty of Vietnam. The structure also contributes to the local socio-economic development, creates jobs, and increases the residents' income.
http://mrem.bernama.com/viewsm.php?idm=45704
SINGAPORE-BASED OHMYHOME ANNOUNCES IPO PRICING
KUALA LUMPUR, March 22 (Bernama) -- Ohmyhome Limited (Ohmyhome), a data-driven property technology company based in Singapore, has announced the pricing of its initial public offering (IPO) of 3,775,000 ordinary shares at a price of US$4.00 per share. (US$1=RM4.46)
Ohmyhome is offering 2,800,000 ordinary shares and the selling stockholder named in the prospectus is offering 975,000 ordinary shares.
According to a statement, the company will not receive any proceeds from the sale of shares by the selling stockholder.
The shares have been approved for listing on the Nasdaq Capital Market and begin trading under the ticker symbol "OMH" on March 21, and the offering is expected to close on or about March 23, subject to the satisfaction of customary closing conditions.
The offering is being conducted on a firm commitment basis. Prime Number Capital LLC is acting as the sole book runner for the offering, while SBI China Capital Financial Services Limited will be acting as the co-manager.
Ohmyhome is a one-stop-shop property technology platform providing end-to-end property solutions and services to end customers directly to help them buy, sell, rent, renovate their homes and more with a single application.
-- BERNAMA
Wednesday, 22 March 2023
AM Best revises Hotai Insurance Credit Ratings under review status to negative
KUALA LUMPUR, March 20 (Bernama) -- AM Best has revised the implications of the under review status to negative from developing for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Hotai Insurance Co Ltd (Hotai Insurance), Taiwan.
The Credit Ratings (ratings) reflect Hotai Insurance’s balance sheet strength, which AM Best assessed as weak, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management.
In a statement, AM Best said the ratings also reflected the support that the company received from its ultimate parent, Ho Tai Motor Co Ltd (Ho Tai Motor).
The ratings were placed under review with developing implications on Dec 2, 2022 pending increased visibility of the pandemic insurance ultimate loss level and the magnitude of capital impact, as well as the level and timeliness of financial support from the parent.
The revision of the implications of the under review in this rating action reflects the larger-than-expected shortfall between the latest development of ultimate claims amount and potential further capital support from the parent, Ho Tai Motor, based on information provided by Hotai Insurance.
With a significantly downsized capital and surplus to support the growing underwriting portfolio, AM Best expects the company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, to remain at the very weak level over the short to intermediate term.
The local regulator announced that effective March 20, 2023, only infections that exhibit moderate to severe symptoms are qualified as pandemic cases. The ratings agency expects this will help to partially alleviate the claims pressure faced by Hotai Insurance, albeit the magnitude remains uncertain.
AM Best will continue to hold discussions with Hotai Insurance’s management team on claims development, contingency capital and business plans to assess the impact to the company’s credit profile.
-- BERNAMA
Tuesday, 21 March 2023
Chiba Prefecture: 6 products take bite at specialty food prizes
KUALA LUMPUR, March 20 (Bernama) -- The Chiba Prefectural Government and the Chiba Food Industry Liaison Council have awarded specialty food prizes to six local food products.
The six products won the "Discover the Excellent Foods in CHIBA 2023" contest organised by the prefecture and the council to discover and promote attractive products from among processed foods made mainly from local agricultural and fisheries materials.
According to a statement, the prefectural government will help expand the sales channels for the prize-winning products through various opportunities including its promotional events.
The Gold Prize was awarded to “Chiba-no Kodawari Pudding" (Chiba's Quality Pudding), with peanut flavours. Rich-tasting pudding with plain and peanut flavours which has a beautiful two-tone colouring is available for JPY365 for 80g. (JPY100 = RM3.41)
"Fukkura Kuromame Genmai Gohan" (Fluffy Brown Rice Boiled with Black Beans) won the Silver Prize. Boiled in a special broth, the fluffy brown rice is accented with black beans, a specialty of the prefecture and is highly recommended for gifts and is priced at JPY594 for 160g.
The winning product for the Bronze Prize is Chiba Peanut Gelato which is known for its smooth texture, as well as its well-balanced tastes with flavours of peanuts and milk costs JPY500 for 100g.
Meanwhile, the winning products for Jury's Special Prizes are Confitures "Nashikko" (Japanese pear preserves) which is made of pears produced in Funabashi City; olive oil-confit Japanese Spanish mackerel by on-board "ikejime"; and Sudo Farm Milk which is produced with an approach to curb methane gas emissions by cows.
-- BERNAMA
Monday, 20 March 2023
CLOUDFLARE DEMOCRATIZES POST-QUANTUM CRYPTOGRAPHY BY DELIVERING IT FOR FREE, BY DEFAULT
Already powering more than 99% of all websites that support NIST standard track post-quantum cryptography today, Cloudflare aims to help defend online users against threats of advanced computing
SAN FRANCISCO, March 17 (Bernama-BUSINESS WIRE) -- Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it will provide post-quantum cryptography for free by default to all customers to help secure their websites, APIs, cloud tools and remote employees against future threats. Now, all Cloudflare customers will be able to seamlessly migrate to the next era of cybersecurity standards–instantly and for free. Cloudflare is making this commitment at the 2023 Summit for Democracy in support of a more responsive and resilient Internet, and will additionally publish vendor-neutral roadmaps based on NIST standards to help businesses secure any connections that are not protected by Cloudflare.Quantum computers–which perform complex computations at an exponentially faster rate than today’s machines–are expected to become advanced enough in the coming years to decrypt much of the encrypted data on the Internet. The Biden Administration recently mandated government agencies, and is encouraging the private sector, to prepare for quantum computers that could break encryption in the future of data stolen today. Today’s CISOs and CIOs know they need to prepare today to migrate to post-quantum cryptography before this happens. Unfortunately, emerging vendors want to capitalize on this to charge unnecessarily high fees–limiting the access and affordability for businesses, as well as non-profits and civil society organizations.
http://mrem.bernama.com/viewsm.php?idm=45675
Acuity boasts 5,500 employees as demand grows for bespoke research, analytics
KUALA LUMPUR, March 17 (Bernama) -- Acuity Knowledge Partners (Acuity), a leading provider of bespoke research, analytics, staffing and technology solutions to the financial services sector, announced it has added new clients across key markets and expanded existing relationships over the past year, as well as completed its first bolt-on transaction.
Acuity’s growth has been further boosted by its September 2022 acquisition of Cians Analytics, a provider of high-quality research and analytical support to financial institutions.
The acquisition enables Acuity to offer enhanced support in knowledge process outsourcing and streamline the operations of financial firms around the world.
According to Acuity in a statement, its growth story will be supported by Permira, a leading global private equity firm, which took a majority stake in Acuity in January 2023.
“We are very proud of the success and the results we achieved for our clients in 2022. We enter 2023 very confident of further growth and deepening our relationships with our global client base.
“We are also witnessing very strong client retention, which is a big testament to Acuity’s quality of service. We have begun 2023 positively and are pleased to have opened a new delivery centre in Pune, India,” said its Chief Executive Officer, Robert King.
Currently boasting over 5,500 highly skilled team members across its global network of offices, Acuity has also reinforced commitment to operations in Sri Lanka and plans to expand its workforce in the country to 1,000 in the coming years.
Acuity’s success in attracting talent stems from recognition of its technological capabilities and outstanding work for clients. In March 2022, Acuity ranked fifth of 50 of the best privately owned technology companies in the United Kingdom (UK) at the Megabuyte50 awards.
With a presence spanning the United States, the UK, Costa Rica, Sri Lanka, India, China and the United Arab Emirates, Acuity now supports over 500 clients across the financial services spectrum including banking, asset management, private equity and venture capital, hedge funds, corporates and consulting firms.
-- BERNAMA
Friday, 17 March 2023
Fidelity Insurance Credit Ratings affirmed - AM Best
KUALA LUMPUR, March 16 (Bernama) -- The United States-headquartered AM Best has affirmed New Zealand’s Fidelity Insurance Limited (Fidelity Insurance) Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent).
The Credit Ratings (ratings), which have a stable outlook reflect Fidelity Insurance’s balance sheet strength, that AM Best assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
AM Best in a statement said the ratings also factored in a neutral impact from the company’s ultimate ownership by Fidelity Life Assurance Company Limited (Fidelity Life Assurance).
Fidelity Insurance’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which was at the strongest level as of fiscal year (ending June 30) 2022, as measured by Best’s Capital Adequacy Ratio.
Despite elevated dividend payouts, Fidelity Insurance has maintained robust regulatory solvency coverage as a result of prudent capital management and increased utilisation of reinsurance.
AM Best viewed Fidelity Insurance’s operating performance as adequate, driven by robust underwriting performance of the company’s in-force life insurance business, with generally favourable claims experience and a low expense ratio.
In fiscal year 2022, operating earnings were impacted adversely by rising interest rates and increased infrastructure, staffing and integration costs following its acquisition by Fidelity Life Assurance on Feb 28, 2022.
As a result, fiscal year 2022 net income fell to NZ$12.9 million compared with NZ$44.1 million in fiscal year 2021. However, overall earnings are expected to remain supportive of an adequate operating performance assessment. (NZ$1 = RM2.77)
The company benefits from a strong distribution network driven by the establishment of an exclusive 15-year arrangement with Westpac New Zealand Limited (WNZL) to distribute Fidelity Insurance’s products to its retail customers.
-- BERNAMA
Thursday, 16 March 2023
ACAMS SCHOLARSHIP FOR KOREAN PROFESSIONALS SEEKING ANTI-MONEY LAUNDERING TRAINING
EasyView seals Noah International as new client
Noah, a leading and pioneer wealth management service provider in China and winner of Asian Private Banker’s Best Independent Wealth Manager, China 2022, is going live with EasyView’s platform, which was launched in 2022.
EasyView is thrilled to be part of Noah’s ambitious plan to accelerate expansion of its high net worth clients solutions in Asia and enhance its ability to innovate quickly and effectively across its entire wealth management value chain, from client onboarding, compliance to fulfilment and trading.
EasyView Chief Operating Officer, Hongbin Shi said the private wealth management industry had traditionally been a personal, relationship-based business, and engaging with clients via digital capabilities is now holding more and more weight.
“Through integrating with EasyView solutions, Noah’s clients will be able to view their real-time consolidated portfolio from assets across multiple custodian banks as well as non-bankable assets such as real estate and digital assets,” Shi said in a statement.
Meanwhile, Noah International Chief Executive Officer at International Wealth Management, Oscar Liu said: “We are truly excited to be working with EasyView to craft and execute digital capabilities for our clients, across portfolio management, investing, risk management and other topics.
“The expanding scope of our clients’ needs require Noah and EasyView to work as one team, driven by the same vision to transform wealth management through digital technology.”
EasyView’s technology leverages on best-in-class security certifications and allows users to carry on performing duties even from home without any business or region disruption.
-- BERNAMA
Cloudflare goes 'marketing' helping businesses swiftly nail online fraud
Powered by sophisticated machine learning models and global threat intelligence, the company is developing Cloudflare Fraud Detection to quickly stop account and payment fraud while also blocking the bots and humans behind it, automatically, and at global scale.
“Customers have long trusted us to help protect them online, and now we are taking that even further by tackling online fraud. With our massive global network, we can see more and secure more.
“We believe we can use our network to stop online fraud faster than anyone else, so business leaders will no longer be kept up at night worrying that online fraud will hurt their brand, their customers’ experience or their revenue,” said its co-founder and chief executive officer, Matthew Prince in a statement.
Cloudflare’s global network spans more than 285 cities in over 100 countries to power millions of websites, Application Programming Interfaces and mobile applications, including major online retailers, global financial institutions and payment providers.
This will allow Cloudflare to develop real-time advanced detection models that provide greater insights into online fraud threats, and run those models in near-real time to stop threats without any impact on performance.
Cloudflare Fraud Detection will first synthesise different threat activity it sees across the globe and across many different Cloudflare products.
For example, Cloudflare Fraud Detection will combine insights from Cloudflare's cloud email security, like phishing attacks, with information about emerging attacks from the Cloudforce One threat intelligence team to determine if a new user signup may be fake.
With Cloudflare Fraud Detection, businesses will have a consolidated fraud management solution with several threat-specific detection capabilities to stop bots at global scale; safeguard brand reputation and consumer trust; protect consumers who fell victim to a past breach; and prevent the use of stolen credit cards.
-- BERNAMA
AM BEST AFFIRMS CREDIT RATINGS OF FIDELITY LIFE ASSURANCE COMPANY LIMITED
The ratings reflect Fidelity Life Assurance’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.
Fidelity Life Assurance’s balance sheet strength assessment is underpinned by its consolidated risk-adjusted capitalisation, which AM Best expects to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite significant underwriting growth following the acquisition of Westpac Life-NZ- Limited (subsequently renamed to Fidelity Insurance Limited [Fidelity Insurance]) from Westpac New Zealand Limited (WNZL) on 28 February 2022, AM Best expects the company’s consolidated regulatory solvency position to be maintained at an appropriate level, supported by a robust post-acquisition capital management strategy. AM Best also views Fidelity Life Assurance as having good financial flexibility, supported by its two largest shareholders, NZ Superannuation Fund and Ngāi Tahu Holdings Corporation Limited. A partially offsetting balance sheet strength factor is Fidelity Life Assurance’s high reliance on third-party reinsurance.
AM Best assesses Fidelity Life Assurance’s operating performance as adequate, with a five-year average return-on-equity ratio of 1.8% (fiscal years 2018-2022). In fiscal year 2022, the company’s operating results were dampened by higher discount rates, as well as integration and transaction costs associated with the acquisition of Fidelity Insurance. However, AM Best expects operating performance metrics to remain at an adequate level over the medium term, supported by scale efficiencies arising from the group's increased operational size, as well as technology capability.
Fidelity Life Assurance ranks among the largest life insurance companies in New Zealand, recording significant premium growth following the acquisition of Fidelity Insurance in fiscal year 2022. AM Best views the establishment of an exclusive 15-year bancassurance distribution arrangement with WNZL to have diversified Fidelity group’s distribution capabilities, previously concentrated on the capital-intensive financial adviser channel.
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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Contact
Yi Ding
Senior Financial Analyst
+65 6305 5021
yi.ding@ambest.com
Michael Dunckley
Director, Analytics
+65 6303 5020
michael.dunckley@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
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Wednesday, 15 March 2023
NIPPON EXPRESS (BELGIUM) JOINS PHARMA.AERO
TOKYO, Mar. 15, 2023 /Kyodo JBN-AsiaNet/ --
Nippon Express (Belgium) N.V./S.A. (hereinafter "NX Belgium"), a group company of NIPPON EXPRESS HOLDINGS, INC., became the first Japanese forwarder to join Pharma.Aero (*) on January 25 this year.Pharma.Aero logo: https://kyodonewsprwire.jp/img/202303033576-O1-98z3VY1t
NIPPON EXPRESS logo: https://kyodonewsprwire.jp/img/202303033576-O2-Liv03U6J
The Nippon Express Group has positioned the pharmaceutical industry as a key industry in its "Nippon Express Group Business Plan 2023 -- Dynamic Growth," and is pursuing the global development of a safe and secure pharmaceutical logistics platform to meet increasingly sophisticated and diverse pharmaceutical logistics needs.
NX Belgium obtained Good Distribution Practice (GDP) certification, a standard for the proper distribution of pharmaceuticals, for its facilities in the cargo area of Brussels International Airport in December 2021, evidence of its expertise in temperature control, quality control, and other aspects of the international air transport of pharmaceuticals.
By joining Pharma.Aero, NX Belgium will share and build on its knowledge and expertise with pharmaceutical companies, airport operators, and airlines specializing in the transport of pharmaceuticals around the world and combine the international temperature-controlled transport services and warehousing functions of the Nippon Express Group's global network to provide a high-quality pharmaceutical logistics platform.
The Nippon Express Group is committed to supporting its customers in the global pharmaceutical industry by building a reliable and safe global pharmaceutical logistics platform with the aim of contributing to the health of people around the world.
(*) Pharma.Aero: A collaborative coalition of pharmaceutical companies, the CEIV Pharma certification community, airport operators and others in the air cargo industry. The platform was launched in 2016 with the aim of devising and developing projects to address the challenges of pharmaceutical air transport across industries, and its initiatives are directed by Brussels Airport and Miami Airport.
Nippon Express website: https://www.nipponexpress.com/
Nippon Express Group's official LinkedIn account:
https://www.linkedin.com/company/nippon-express-group/
Source: NIPPON EXPRESS HOLDINGS, INC.
http://mrem.bernama.com/viewsm.php?idm=45655
Tuesday, 14 March 2023
POLYPLASTICS DEVELOPS LONG CELLULOSE FIBRE REINFORCED RESIN FOR AUTOMOTIVE APPLICATIONS
KUALA LUMPUR, March 14 (Bernama) -- Polyplastics Group announced its newly developed long cellulose fibre reinforced polypropylene (PP) resin, PLASTRON (R) LFT, is being targeted for automotive applications such as door module carriers, centre consoles and armrest cores.
According to Polyplastics in a statement, PLASTRON (R) LFT offers lower density and reduced greenhouse gas (GHG) emissions than short glass-reinforced resins while delivering the same mechanical properties.
PLASTRON (R) LFT long cellulose fibre reinforced resin incorporates regenerated cellulose fibres made using the solvent method which produces hardly any waste.
Polyplastics uses a solvent method cellulose fibre that emits less GHG when manufactured compared to typical glass fibre. Since it has nearly 10 per cent lower density than glass fibre-reinforced PP resin, its GHG emissions are also even lower when compared in equal volumes.
By nature, cellulose is extraordinarily difficult to dissolve in solvents and currently, a significant majority of typical regenerated cellulose is manufactured using a complex process which involves modification of the cellulose, followed by dissolving in solvent and spinning, and finally restoring the original cellulose form.
This process results in significant emissions of GHGs, including carbon dioxide.
In comparison, the solvent method involves a closed process that recovers virtually 100 per cent of the solvent, generating minimal waste and producing materials that are even more eco-friendly.
A global leader in the development and production of engineering thermoplastics, Polyplastics has earned multiple patents throughout the world for resins reinforced with long-regenerated cellulose fibre, including solvent method cellulose fibre.
-- BERNAMA
No Squid Game: Scientists ink study your squid likely comes from unregulated waters
KUALA LUMPUR, March 13 (Bernama) -- There has been growing concerns from scientists and policymakers alike, on the decline of global squid stocks, but little has been done to date to target squid fishing activities that are expanding into unregulated spaces, according to a new international study.
An assistant professor of environmental studies at the University of California, Santa Cruz, Katherine Seto led the study, which was published in Science Advances on March 10.
According to a statement, the study explores the unregulated nature of global squid fisheries across three oceans over a three-year period, and how these fisheries continue to grow and shift locations beyond the jurisdiction of management bodies.
Using satellite imagery, vessel tracking and data monitoring, the study found that the fishing conducted by this globalised light-luring squid fishery was extensive, fishing between 149,000-251,000 vessel days annually, and that effort increased 68 per cent over the study period from 2017-2020.
“These squid fisheries are highly mobile, fishing multiple oceans within a given year. While some conservation and management measures are in place to regulate this type of fishing, our research found that actors may take advantage of these fragmented regulations to maximise resource extraction.
“To address this, we need to address the factors that promote the growth and expansion of fishing efforts, and increase data sharing and communication between management entities,” said Seto.
The study found that these squid fishing vessels fished largely (86 per cent) in unregulated areas, equating to 4.4 million total hours of fishing time between 2017-2020.
While unregulated fishing is not necessarily illegal, it presents challenges for fisheries sustainability and resource equity, and has been connected to questionable human rights and labour practices.
One major challenge has been the vessels freely fishing between regulated and unregulated spaces, fishing huge amounts of squid with little to no oversight or data reporting.
The study also revealed that fishing in unregulated areas has also steadily increased and seems to be preferred despite concerns over stock status.
The research was conducted through a partnership between Global Fishing Watch, the Australian National Centre for Ocean Resources and Security at the University of Wollongong, and the Japan Fisheries Research and Education Agency.
-- BERNAMA
ATTACK OF THE THIEVING PHISHERS: AT&T MOST IMPERSONATED BRAND, SAYS CLOUDFLARE
KUALA LUMPUR, March 14 (Bernama) -- Cloudflare Inc has revealed that AT&T ranked first among the most impersonated brands in phishing attempts in 2022, according to its global report on the Top 50 Brands Used in Phishing Attacks.
PayPal earned the second spot followed by Microsoft (third), DHL (fourth) and Facebook (Meta) (fifth) on the list of most impersonated brands in phishing attacks published by the security, performance and reliability company helping to build a better Internet.
In a statement, Cloudflare said almost 20 per cent of all websites are protected by its global network and its email security offering stopped 2.3 billion unwanted emails from hitting inboxes in 2022.
As a result, Cloudflare’s machine learning and data analysis give it unique insight into the phishing domains most frequently clicked on by Internet users and the ability to proactively protect its Zero Trust customers.
“Phishing attacks prey on our trust in the brands we love and use everyday, and are becoming more difficult to spot for even the most digitally-savvy person.
“Our sanity, bank accounts, and passwords should not be compromised because we glossed over a misspelled 'from' field or accidentally clicked on an obscure URL,” said Cloudflare co-founder and chief executive officer, Matthew Prince.
“Phishing” refers to an attempt to steal sensitive information like usernames, passwords, credit card numbers, bank and crypto account information, or other important data in order to utilise or sell the stolen information.
Cloudflare found that finance, technology, and telecom brands were the most commonly impersonated industries, notably for the unprecedented access and financial benefit that bank accounts, email and social media, and phone companies can give attackers.
Technology and telecom companies are a unique threat because phishing attacks can intercept the emails and text messages that are used to verify a user’s identity via two-factor authentication.
Cloudflare also announced new capabilities to provide customers the most comprehensive and effective phishing protection available. Building on Cloudflare Area1’s recent launch of advanced Zero Trust email security tools, customers can now automatically and immediately identify and block “confusable” domains to better protect their corporate networks.
-- BERNAMA
Friday, 10 March 2023
CROWN BIOSCIENCE OPENS SINGAPORE LABORATORY AND ESTABLISHES LOCAL COMMERCIAL PARTNER
The new facility will initially offer a broad portfolio of high-demand cell line-derived xenograft (CDX) and syngeneic models, alongside supporting analytical biomarker capabilities including flow cytometry and pathology services. The Company is also collaborating with the established biomedical community in Singapore to bring not only the foundational capabilities of Crown Bioscience’s preclinical services to Singapore but also novel technologies and services.
To support the growth goals for the Singapore site, and with a particular focus on the burgeoning local biotech industry, Crown Bioscience is pleased to announce it has entered into a distribution agreement with Biosys Corporation Pte Ltd., a specialized commercial partner with unique contacts within the Singaporean life sciences ecosystem.
Commenting on the opening of the new laboratory, Keefe Chng, PhD, executive director, and general manager of the Singapore facility, commented; “We are extremely excited to join the local biomedical community. Our core capabilities and experience will help the booming local biotech industry advance their preclinical and translational studies, while at the same time enable Crown Bioscience to bring unique high-end technologies to our global partners.”
Mr Ivan Fu, Director of Biosys Corporation, added: “We believe that Crown Bioscience’s new facility in Singapore will inject a new standard for quality and innovation in the local preclinical market. As a distributor of Crown Bioscience in Singapore, our aim is to accelerate our customers research to improve the future of cancer treatment.”
The investment in Singapore reflects a broader strategy to increase Crown Bioscience’s ability to support APAC-based clients with a local presence. In 2022 the Company announced a joint venture launch with sister company MBL in Japan, alongside facility expansions and upgrades to the Company’s Chinese presence. These investments coincide with the fast-growing biotechnology sector across the region, while recognizing the importance of local understanding and language in support of the company’s client base.
To mark the official site opening, a ribbon cutting event was held in February with executives from Crown Bioscience and Biosys Corporation in attendance.
###
About Crown Bioscience
Crown Bioscience, a JSR Life Sciences company, is a global CRO that provides preclinical and translational platforms to help our customers advance their R&D in oncology, immuno-oncology, and immune-mediated inflammatory diseases. Crown Bioscience is the exclusive preclinical CRO to offer tumor organoid services with the well-established Hubrecht Organoid Technology. We have developed the largest commercially available PDX collection. We focus on helping our customers develop novel therapies to maximize the chances that patients receive the right treatment at the right time. Founded in 2006, Crown Bioscience has 12 facilities across the United States, Europe, and Asia.
For more information or to get in touch, please visit www.crownbio.com.
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Media Inquiries:
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Source : Crown Bioscience
MARY KAY HASTENS DIGITAL INNOVATION RELEASING WOMEN ENTREPRENEURS FULL POWER
AM Best upgrades issuer Credit Rating of Blue Cross
According to a statement, the outlook assigned to these Credit Ratings (ratings) is stable.
The ratings of Blue Cross were placed under review with positive implications in August 2022, following the announcement that the incumbent immediate parent, AIA Holdings (Hong Kong) Limited, a wholly owned subsidiary of AIA Group Limited (AIA), had completed the transaction to acquire 100 per cent of shares in Blue Cross from The Bank of East Asia, Limited (BEA).
The ratings reflect Blue Cross’ balance sheet strength, which AM Best assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. It also incorporates the rating enhancement that Blue Cross receives from AIA.
Blue Cross’ balance sheet strength is assessed at the very strong level, underpinned by the strongest level of risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio.
While the company’s capital and surplus saw a material decline in 2022 due to a net loss and negative fair value changes in investments, AM Best expects the company to benefit from capital support from AIA to underpin a faster-than-average business expansion over the short to intermediate term, according to its business plan.
Blue Cross reported a 71.5 per cent decline in net profit in 2021 due to a higher loss ratio, mainly attributed to a low base effect from deferred medical treatments amid the COVID-19 pandemic in 2020. Total earnings turned negative in 2022 as net investment loss on its run-off life portfolio hampered the overall performance.
On Nov 1, 2022, this residual life portfolio was fully transferred to AIA Everest Life Company Limited. Going forward, according to its business plan, the company projects to deliver marginal operating profitability and negative return on equity in 2022 and 2023, driven by significant investments and expenses as it integrates with AIA.
Blue Cross maintains a solid market presence in the Hong Kong general insurance market, with a primary focus on medical insurance that accounted for 85 per cent of its net premium written in 2022 and was the sixth-largest provider of accident and health (A&H) products in terms of direct premium written.
For more information, visit www.ambest.com.
-- BERNAMA
SIMPLY SUPER! ILLUMINATION, NINTENDO UNVEIL THE SUPER MARIO BROS. MOVIE FINAL TRAILER
KUALA LUMPUR, March 10 (Bernama) -- Illumination and Nintendo Co Ltd (Nintendo) announced the final trailer for The Super Mario Bros. Movie, the new animated film based on the world of Super Mario Bros. during the Nintendo Direct which was streamed recently.
In a statement, the two companies also announced the Japanese voice actor for Donkey Kong. The film will be co-financed by Universal Pictures and Nintendo, and released worldwide by Universal Pictures.
The Super Mario Bros. Movie, is the Super Mario Bros. animated film, produced by Chris Meledandri of Illumination and Shigeru Miyamoto of Nintendo.
It was directed by Aaron Horvath and Michael Jelenic (collaborators on Teen Titans Go!, Teen Titans Go! To the Movies) from a screenplay by Matthew Fogel (Illumination’s Minions: The Rise of Gru).
The film stars Chris Pratt as Mario; Anya Taylor-Joy as Princess Peach; Charlie Day as Luigi; Jack Black as Bowser; Keegan-Michael Key as Toad; Seth Rogen as Donkey Kong; Fred Armisen as Cranky Kong; Kevin Michael Richardson as Kamek; and Sebastian Maniscalco as Spike.
Illumination is one of the entertainment industry’s leading producers of event-animated films, and its soon-to-be released The Super Mario Bros. Movie will join a studio library that includes two of the top 10 animated films of all time.
Meanwhile, headquartered in Kyoto, Japan, Nintendo has created franchises that have become household names worldwide including Mario™, Donkey Kong™, The Legend of Zelda™, Metroid™ and Pokémon™.
-- BERNAMA