Friday, March 31, 2017
TOSHIBA'S NEW CAR AUDIO SYSTEM REGULATOR IC HANDLES ALL POWER REQUIREMENTS
- Integrates series regulators and detection functions for car audio -
TOKYO, March 29 (Bernama-BUSINESS WIRE) -- Toshiba Corporation's (TOKYO:6502) Storage & Electronic Devices Solutions Company today announced the launch of “TCB010FNG,” a system regulator IC designed to handle the increasing sophistication of car audio systems, and that incorporates the required power supply plus all essential detection functions. Sample shipments start today with mass production scheduled for June.
TCB010FNG incorporates a power supply for a microcontroller that retains power for a time more than sufficient for any short loss of battery power, multiple variable power supplies, plus a fixed power supply. It also incorporates a number of detection functions, such as ACC voltage detection and accessory power voltage detection, making it a single-chip solution covering all power requirements of car audio systems.
As another plus, the IC is configured with series regulators, allowing users to design a system with no concerns for the impact of unnecessary radiation.
TCB010FNG incorporates a power supply for a microcontroller that retains power for a time more than sufficient for any short loss of battery power, multiple variable power supplies, plus a fixed power supply. It also incorporates a number of detection functions, such as ACC voltage detection and accessory power voltage detection, making it a single-chip solution covering all power requirements of car audio systems.
As another plus, the IC is configured with series regulators, allowing users to design a system with no concerns for the impact of unnecessary radiation.
OPEN CONNECTIVITY FOUNDATION AND SINGAPORE SEMICONDUCTOR INDUSTRY ASSOCIATION ANNOUNCE COLLABORATION FRAMEWORK IN SINGAPORE
SINGAPORE, March 29 (Bernama-BUSINESS WIRE) -- The growing billions of connected devices should be able to communicate with one another regardless of manufacturer, operating system, chipset or physical transport. The Open Connectivity Foundation (OCF), a leading Internet of Things standards body, is creating a specification and sponsoring an open source project (IoTivity) to achieve that goal. Today, the OCF is announcing a collaboration with the Singapore Semiconductor Industry Association (SSIA) to promote the adoption of this specification to small and medium-sized enterprises and startups in the Singapore Smart Nation ecosystem and to help companies understand and adopt the specifications in their design strategies.
The Singapore IoT market is expected to be worth more than $700 million by the year 2020. The Smart Nation Program is Singapore's national effort to create a future of better living for all through tech-enabled solutions. With a program in place and the market poised for success, OCF’s specification will accelerate industry innovation to ensure secure interoperability for consumers, business, and industry. Singapore will be a step closer to its Smart Nation vision through smarter health, transport, living and service sector initiatives. SSIA will promote OCF down its value chain and enable SMEs to explore the applications and potential development of this new collaborative platform.
Richard Brown, Head of OCF Asia Marketing Task Force said, “We are pleased to be working with the SSIA to support the adoption and promotion of OCF specifications in Singapore.” CK Tan, President of the SSIA stated, “Singapore’s Smart Nation program is a strategic initiative for both the government and the tech ecosystem. Having software and hardware systems that are interoperable is key to ensuring the Smart Nation program is a success. We are pleased to be working with OCF to promote the adoption of open standards to support the Internet of Things market in Singapore.”
Richard Brown, Head of OCF Asia Marketing Task Force said, “We are pleased to be working with the SSIA to support the adoption and promotion of OCF specifications in Singapore.” CK Tan, President of the SSIA stated, “Singapore’s Smart Nation program is a strategic initiative for both the government and the tech ecosystem. Having software and hardware systems that are interoperable is key to ensuring the Smart Nation program is a success. We are pleased to be working with OCF to promote the adoption of open standards to support the Internet of Things market in Singapore.”
TAKEDA ANNOUNCES RICARDO MAREK AS NEW PRESIDENT OF EMERGING MARKETS BUSINESS UNIT
SINGAPORE, March 30 (Bernama-BUSINESS WIRE) -- Takeda Pharmaceuticals Company Limited (“Takeda”), announced today that Ricardo Marek has been appointed as the President of the Emerging Markets Business Unit (EM BU), based in Singapore, effective April 1, 2017. In his new role he will lead all business operations across five geographic Areas that comprise EM BU – Asia Pacific (excluding Japan), China, Latin America, Middle East & Africa and Russia-CIS. Marek will also serve as a Corporate Officer and member of Takeda’s Executive Team, and report to Christophe Weber, President and Chief Executive Officer of Takeda.
After joining Takeda in 2011, Ricardo became President of Takeda Brazil in 2013. He then took-on additional, concurrent responsibilities, as Area Head of Latin America (LatAm) in 2014. Ricardo will be relocating from his home in São Paulo, Brazil, to Singapore and succeeds Giles Platford who has moved to Zurich as President of Europe and Canada, also effective April 1, 2017.
http://mrem.bernama.com/viewsm.php?idm=28800
After joining Takeda in 2011, Ricardo became President of Takeda Brazil in 2013. He then took-on additional, concurrent responsibilities, as Area Head of Latin America (LatAm) in 2014. Ricardo will be relocating from his home in São Paulo, Brazil, to Singapore and succeeds Giles Platford who has moved to Zurich as President of Europe and Canada, also effective April 1, 2017.
http://mrem.bernama.com/viewsm.php?idm=28800
CHUGAI - A*STAR JOINT DEVELOPMENT PROJECT FOR ANTI-DENGUE VIRUS ANTIBODY SELECTED AS GRANT RECIPIENT BY THE GHIT FUND
TOKYO & SINGAPORE, March 30 (Bernama-BUSINESS WIRE) -- Chugai Pharmaceutical Co., Ltd. (TOKYO:4519) and the Agency for Science, Technology and Research, Singapore (A*STAR) announced today that a joint research project between Chugai and A*STAR for an anti-dengue virus antibody has been selected as a grant recipient by the Global Health Innovative Technology Fund (GHIT Fund). Chugai and A*STAR have been engaged in the joint research since 2015.
This project was born through the collaboration of Chugai Pharmabody Research Pte. Ltd. (CPR), a research center of the Chugai Group in Singapore, and A*STAR’s Singapore Immunology Network (SIgN). The dengue virus that causes dengue fever is known to have four different serotypes. SIgN researchers identified a new human antibody that is highly effective in neutralizing the activity of all four dengue virus serotypes, and CPR applied Chugai’s proprietary antibody engineering technologies to optimize the antibody. This project seeks to create a new antibody drug against the dengue virus. It has been selected to receive US$5.3 million grant based on its recognition by the GHIT Fund for contributing to the “fight against neglected tropical diseases in developing countries.”
http://mrem.bernama.com/viewsm.php?idm=28791
This project was born through the collaboration of Chugai Pharmabody Research Pte. Ltd. (CPR), a research center of the Chugai Group in Singapore, and A*STAR’s Singapore Immunology Network (SIgN). The dengue virus that causes dengue fever is known to have four different serotypes. SIgN researchers identified a new human antibody that is highly effective in neutralizing the activity of all four dengue virus serotypes, and CPR applied Chugai’s proprietary antibody engineering technologies to optimize the antibody. This project seeks to create a new antibody drug against the dengue virus. It has been selected to receive US$5.3 million grant based on its recognition by the GHIT Fund for contributing to the “fight against neglected tropical diseases in developing countries.”
http://mrem.bernama.com/viewsm.php?idm=28791
Thursday, March 30, 2017
MERCEDES-AMG DRIVES PERFORMANCE WITH SAP® SUCCESSFACTORS® SOLUTIONS
SOUTH SAN FRANCISCO, Calif., March 30 (Bernama-GLOBE NEWSWIRE) --SAP SuccessFactors today announced that Mercedes-AMG has selected SAP® SuccessFactors® human capital management (HCM) solutions to help drive the company’s digital HR transformation and optimize talent management. Mercedes-AMG, the world-renowned sports car and performance brand of Mercedes-Benz, chose SAP SuccessFactors solutions to help centralize its global HR processes, streamline HR service delivery and, most important, attract top talent.
Reinhard Breyer, CIO at Mercedes-AMG, said: “As a global leader in the automotive industry, attracting and retaining the best talent is essential to developing some of the most attractive and innovative sports cars and performance vehicles in the market.”
Jürgen Kress, director of HR at Mercedes-AMG, added: “With the rapid pace of change today, our employees are the heart of our business and are critical to delivering state-of-the-art technological developments. Partnering with the leading provider of cloud-based HCM solutions has been an important step in ensuring our workforce remains happy and engaged, and with SAP SuccessFactors solutions, we are better equipped to remain a global employer of choice.”
Mercedes-AMG selected the SAP SuccessFactors Employee Central, SAP SuccessFactors Recruiting, SAP SuccessFactors Learning and SAP SuccessFactors Performance & Goals solutions to help consolidate its HR systems, improve the recruiting and performance management processes, and provide leading development programs. With these tools, Mercedes-AMG expects to standardize its HR processes and improve the employee experience by ensuring workers have access to easy-to-use, harmonized solutions.
“As the fight for top talent continues to intensify, businesses require technology to help them find and then retain the best people,” said Mike Ettling, president of SAP SuccessFactors. “Cloud-based HCM solutions deliver today’s expected employee experience. We’re delighted to take this journey with Mercedes-AMG to support its commitment to stay at the forefront of innovation within a highly specialized industry, which starts with its people.”
Mercedes-AMG is one of the latest companies to select SAP SuccessFactors solutions to put people first and help them succeed. As more companies look to transform HR to meet the demands of an increasingly global and digital workforce, they are embracing leading SAP SuccessFactors solutions to help unify and optimize HR processes, while also fostering a mobile, cloud-first philosophy.
For more information, visit the SAP SuccessFactors website or the SAP News Center. Follow SAP SuccessFactors solutions on Twitter at @SuccessFactors and SAP at @sapnews.
Media Contact:
Geraldine Lim, SAP, +1 (415) 418-0945, geraldine.lim@sap.com
SOURCE : SAP Global Marketing
--BERNAMA
Reinhard Breyer, CIO at Mercedes-AMG, said: “As a global leader in the automotive industry, attracting and retaining the best talent is essential to developing some of the most attractive and innovative sports cars and performance vehicles in the market.”
Jürgen Kress, director of HR at Mercedes-AMG, added: “With the rapid pace of change today, our employees are the heart of our business and are critical to delivering state-of-the-art technological developments. Partnering with the leading provider of cloud-based HCM solutions has been an important step in ensuring our workforce remains happy and engaged, and with SAP SuccessFactors solutions, we are better equipped to remain a global employer of choice.”
Mercedes-AMG selected the SAP SuccessFactors Employee Central, SAP SuccessFactors Recruiting, SAP SuccessFactors Learning and SAP SuccessFactors Performance & Goals solutions to help consolidate its HR systems, improve the recruiting and performance management processes, and provide leading development programs. With these tools, Mercedes-AMG expects to standardize its HR processes and improve the employee experience by ensuring workers have access to easy-to-use, harmonized solutions.
“As the fight for top talent continues to intensify, businesses require technology to help them find and then retain the best people,” said Mike Ettling, president of SAP SuccessFactors. “Cloud-based HCM solutions deliver today’s expected employee experience. We’re delighted to take this journey with Mercedes-AMG to support its commitment to stay at the forefront of innovation within a highly specialized industry, which starts with its people.”
Mercedes-AMG is one of the latest companies to select SAP SuccessFactors solutions to put people first and help them succeed. As more companies look to transform HR to meet the demands of an increasingly global and digital workforce, they are embracing leading SAP SuccessFactors solutions to help unify and optimize HR processes, while also fostering a mobile, cloud-first philosophy.
For more information, visit the SAP SuccessFactors website or the SAP News Center. Follow SAP SuccessFactors solutions on Twitter at @SuccessFactors and SAP at @sapnews.
Media Contact:
Geraldine Lim, SAP, +1 (415) 418-0945, geraldine.lim@sap.com
SOURCE : SAP Global Marketing
--BERNAMA
PROFICIO NAMED A FROST & SULLIVAN APAC 2017 MOVER AND SHAKER
MSSP recognized for demonstrated excellence in managed detection and response technology services
SINGAPORE, March 28 (Bernama-BUSINESS WIRE) -- Proficio, one of the fastest growing managed security service providers (MSSP) delivering managed detection and response (MDR), has been recognized by Frost & Sullivan for its incident response and advanced threat intelligence services, and overall vision for the security industry in the Asia-Pacific (APAC) region.
The Movers and Shakers series by Frost & Sullivan showcases forward-thinking companies and leaders throughout the corporate world. Both businesses and individuals are acknowledged for their achievement in celebrating significant milestones, including breakthrough technology, strategic transactions, progressive services and more.
“Proficio is disrupting the managed security market by going beyond the traditional MSSP model, offering a more holistic approach to service delivery that includes best-in-class software and 24x7 security monitoring by seasoned experts,” said Tim McElwee, President and Chairman of Proficio. “With our next-generation MSSP approach, we’re able to provide our APAC customers the most advanced managed detection and response services that until recently were outside the budget of all but the very largest enterprises.”
Since its recent $12 million in venture capital funding led by Kayne Advisors, Proficio has invested in enhancing and expanding its ProSOC services and its Synergy Partner Program. The company increased its presence in European and APAC markets to fill the gap for medium to large-sized enterprises seeking 24X7 security monitoring and alerting. Proficio has plans to expand operations across Australia and Northern Asia later in the year.
The Movers and Shakers series by Frost & Sullivan showcases forward-thinking companies and leaders throughout the corporate world. Both businesses and individuals are acknowledged for their achievement in celebrating significant milestones, including breakthrough technology, strategic transactions, progressive services and more.
“Proficio is disrupting the managed security market by going beyond the traditional MSSP model, offering a more holistic approach to service delivery that includes best-in-class software and 24x7 security monitoring by seasoned experts,” said Tim McElwee, President and Chairman of Proficio. “With our next-generation MSSP approach, we’re able to provide our APAC customers the most advanced managed detection and response services that until recently were outside the budget of all but the very largest enterprises.”
Since its recent $12 million in venture capital funding led by Kayne Advisors, Proficio has invested in enhancing and expanding its ProSOC services and its Synergy Partner Program. The company increased its presence in European and APAC markets to fill the gap for medium to large-sized enterprises seeking 24X7 security monitoring and alerting. Proficio has plans to expand operations across Australia and Northern Asia later in the year.
PROFICIO NAMED A FROST & SULLIVAN APAC 2017 MOVER AND SHAKER
MSSP recognized for demonstrated excellence in managed detection and response technology services
SINGAPORE, March 28 (Bernama-BUSINESS WIRE) -- Proficio, one of the fastest growing managed security service providers (MSSP) delivering managed detection and response (MDR), has been recognized by Frost & Sullivan for its incident response and advanced threat intelligence services, and overall vision for the security industry in the Asia-Pacific (APAC) region.
The Movers and Shakers series by Frost & Sullivan showcases forward-thinking companies and leaders throughout the corporate world. Both businesses and individuals are acknowledged for their achievement in celebrating significant milestones, including breakthrough technology, strategic transactions, progressive services and more.
“Proficio is disrupting the managed security market by going beyond the traditional MSSP model, offering a more holistic approach to service delivery that includes best-in-class software and 24x7 security monitoring by seasoned experts,” said Tim McElwee, President and Chairman of Proficio. “With our next-generation MSSP approach, we’re able to provide our APAC customers the most advanced managed detection and response services that until recently were outside the budget of all but the very largest enterprises.”.
The Movers and Shakers series by Frost & Sullivan showcases forward-thinking companies and leaders throughout the corporate world. Both businesses and individuals are acknowledged for their achievement in celebrating significant milestones, including breakthrough technology, strategic transactions, progressive services and more.
“Proficio is disrupting the managed security market by going beyond the traditional MSSP model, offering a more holistic approach to service delivery that includes best-in-class software and 24x7 security monitoring by seasoned experts,” said Tim McElwee, President and Chairman of Proficio. “With our next-generation MSSP approach, we’re able to provide our APAC customers the most advanced managed detection and response services that until recently were outside the budget of all but the very largest enterprises.”.
EPAM ANNOUNCES APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
NEWTOWN, Pa., March 30 (Bernama-GLOBE NEWSWIRE) -- EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions, today announced that Jason Peterson will join EPAM, effective April 5, 2017, and will succeed Anthony Conte as CFO on May 10, 2017. Conte, who previously announced his intention to resign from the company, will remain in an advisory role until on or about August 10, 2017, and will work closely with Peterson to ensure a seamless transition.
"I am pleased that Jason will be joining EPAM as our Chief Financial Officer. Jason brings proven public company finance expertise in the global technology services space and his contributions will be vital in executing our long-term growth strategy,” said Arkadiy Dobkin, CEO and President, EPAM. “Anthony Conte has made tremendous contributions to EPAM over the past 10 years, and on behalf of the company’s Board of Directors, management team and all of our employees, I want to thank Anthony for his leadership in guiding us through a period of exceptional growth and building the financial infrastructure needed to support EPAM’s future.”
Peterson joins EPAM with 25-years of finance experience and, for the last nine years, was employed by Cognizant Technology Solutions. In his most recent role, he was Vice President of Finance, M&A and Due Diligence, which he held while leading a large-scale corporate business process transformation program. Prior to that, he was CFO of the Emerging Business Accelerator and led the Corporate Financial Planning and Analysis function. Prior to joining Cognizant, Peterson was the CFO for E&C Medical Intelligence, and before that, he served as Vice President of ATI Technologies, responsible for the Financial Planning and Analysis and Controllership functions, while also working in M&A and Corporate Strategy. He previously held financial roles at Philips Semiconductors and Hewlett-Packard. He received an MBA from Columbia Business School and a Bachelor's Degree in economics from Claremont McKenna College.
“I am honored to succeed Anthony and look forward to working with the entire EPAM team as we continue to drive long-term value creation for our clients and shareholders,” said Peterson. “This is a very exciting time to be joining the Company, and I believe there are significant opportunities ahead of us as we continue our path to leadership in the technology solutions space.”
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE:EPAM), has leveraged its core engineering expertise to become a leading global product development and digital platform engineering services company. Through its ‘Engineering DNA’ and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver innovative solutions that turn complex business challenges into real business opportunities. EPAM’s global teams serve customers in over 25 countries across North America, Europe, Asia and Australia. EPAM is a recognized market leader among independent research agencies and was ranked #8 in FORBES 25 Fastest Growing Public Tech Companies, as a top information technology services company on FORTUNE’S 100 Fastest Growing Companies, and as a top UK Digital Design & Build Agency. Learn more at http://www.epam.com/ and follow us on Twitter @EPAMSYSTEMS and LinkedIn.
Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
CONTACT: Danielle Ruess-Saltz
M: 267.978.7688
danielle_ruess-saltz@epam.com
SOURCE : EPAM
--BERNAMA
"I am pleased that Jason will be joining EPAM as our Chief Financial Officer. Jason brings proven public company finance expertise in the global technology services space and his contributions will be vital in executing our long-term growth strategy,” said Arkadiy Dobkin, CEO and President, EPAM. “Anthony Conte has made tremendous contributions to EPAM over the past 10 years, and on behalf of the company’s Board of Directors, management team and all of our employees, I want to thank Anthony for his leadership in guiding us through a period of exceptional growth and building the financial infrastructure needed to support EPAM’s future.”
Peterson joins EPAM with 25-years of finance experience and, for the last nine years, was employed by Cognizant Technology Solutions. In his most recent role, he was Vice President of Finance, M&A and Due Diligence, which he held while leading a large-scale corporate business process transformation program. Prior to that, he was CFO of the Emerging Business Accelerator and led the Corporate Financial Planning and Analysis function. Prior to joining Cognizant, Peterson was the CFO for E&C Medical Intelligence, and before that, he served as Vice President of ATI Technologies, responsible for the Financial Planning and Analysis and Controllership functions, while also working in M&A and Corporate Strategy. He previously held financial roles at Philips Semiconductors and Hewlett-Packard. He received an MBA from Columbia Business School and a Bachelor's Degree in economics from Claremont McKenna College.
“I am honored to succeed Anthony and look forward to working with the entire EPAM team as we continue to drive long-term value creation for our clients and shareholders,” said Peterson. “This is a very exciting time to be joining the Company, and I believe there are significant opportunities ahead of us as we continue our path to leadership in the technology solutions space.”
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE:EPAM), has leveraged its core engineering expertise to become a leading global product development and digital platform engineering services company. Through its ‘Engineering DNA’ and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver innovative solutions that turn complex business challenges into real business opportunities. EPAM’s global teams serve customers in over 25 countries across North America, Europe, Asia and Australia. EPAM is a recognized market leader among independent research agencies and was ranked #8 in FORBES 25 Fastest Growing Public Tech Companies, as a top information technology services company on FORTUNE’S 100 Fastest Growing Companies, and as a top UK Digital Design & Build Agency. Learn more at http://www.epam.com/ and follow us on Twitter @EPAMSYSTEMS and LinkedIn.
Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
CONTACT: Danielle Ruess-Saltz
M: 267.978.7688
danielle_ruess-saltz@epam.com
SOURCE : EPAM
--BERNAMA
Wednesday, March 29, 2017
A.M. BEST ASSIGNS CREDIT RATINGS TO NEW ZEALAND MEDICAL PROFESSIONALS LIMITED
SINGAPORE, March 29 (Bernama-BUSINESS WIRE) -- A.M. Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” to New Zealand Medical Professionals Limited (NZMPL) (New Zealand). The outlook assigned to these Credit Ratings (ratings) is stable.
NZMPL is a single-line insurer in New Zealand, focused on providing medical malpractice insurance to medical practitioners and health professionals.
The ratings reflect NZMPL’s very strong risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio, consistently profitable operating performance and low product risk profile.
NZMPL’s very strong risk-adjusted capitalization reflects mainly the company’s low underwriting leverage, strong quality of capital and favorable liquidity position. In addition, the company has operated profitably within its core market, supported by favorable claims experience and a competitive expense ratio.
Major offsetting factors in NZMPL’s rating assessment are the company’s limited market profile and small capital base.
As a single-line insurer that captures only a very small percentage of industry premiums, NZMPL has a limited market profile. Furthermore, with a capital size of approximately NZD 3.4 million, the company maintains a thin buffer against the minimum capital requirement under the Reserve Bank of New Zealand’s non-life solvency standard.
While NZMPL is well-positioned for its current ratings, the ratings could be downgraded if the company’s financial performance deteriorates significantly due to adverse claims experience.
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 A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
The ratings reflect NZMPL’s very strong risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio, consistently profitable operating performance and low product risk profile.
NZMPL’s very strong risk-adjusted capitalization reflects mainly the company’s low underwriting leverage, strong quality of capital and favorable liquidity position. In addition, the company has operated profitably within its core market, supported by favorable claims experience and a competitive expense ratio.
Major offsetting factors in NZMPL’s rating assessment are the company’s limited market profile and small capital base.
As a single-line insurer that captures only a very small percentage of industry premiums, NZMPL has a limited market profile. Furthermore, with a capital size of approximately NZD 3.4 million, the company maintains a thin buffer against the minimum capital requirement under the Reserve Bank of New Zealand’s non-life solvency standard.
While NZMPL is well-positioned for its current ratings, the ratings could be downgraded if the company’s financial performance deteriorates significantly due to adverse claims experience.
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 A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
Contacts
A.M. Best
Jason Shum, +65 6589 8400, ext. 217
Senior Financial Analyst
jason.shum@ambest.com
or
Moungmo Lee, +65 6589 8412
Managing Director, Analytics
moungmo.lee@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
Jason Shum, +65 6589 8400, ext. 217
Senior Financial Analyst
jason.shum@ambest.com
or
Moungmo Lee, +65 6589 8412
Managing Director, Analytics
moungmo.lee@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
Source: A.M. Best
BRAEMAR ENERGY VENTURES PORTFOLIO COMPANY AGREES TO BE ACQUIRED BY NIPPON SHOKUBAI
Braemar Energy Ventures portfolio company, Sirrus, Inc. has agreed to be acquired by Nippon Shokubai, a leading global producer of acrylic acid and superabsorbents
NEW YORK, March 29 (Bernama-BUSINESS WIRE) -- Braemar Energy Ventures, a leading venture capital investor in energy technology companies, today announced Nippon Shokubai’s planned acquisition of one of their portfolio companies, Sirrus, Inc., subject to customary closing conditions. Braemar has been a lead investor in Sirrus, the world’s leading developer of electron deficient monomers and derivatives, since 2011.
Braemar first led Sirrus’ $13.6 million Series A-1 round of funding, and later led the Company’s A-2 and B round financing in 2013 and 2015, respectively.
“We immediately recognized Sirrus’ potential to develop breakthrough chemical technology that enhanced efficiency, improved performance, and reduced energy consumption and costs for customers across multiple manufacturing industries,” said William Lese, Managing Partner of Braemar Energy Ventures and Board Member of Sirrus. “Since our initial investment, Sirrus’ has managed to obtain over 25 global patents. This track record of innovation has driven Braemar’s continuous support of the commercialization plan for Sirrus’ novel platform. In addition to developing and patenting state-of-the-art technologies, Sirrus has had a unique ability to focus on development efforts that provide unique customer solutions, including lower solvent, less toxic formulation ingredients, and energy efficiency.”
Since 2002, industry veterans Bill Lese and Neil Suslak at Braemar Energy Ventures have been focused exclusively on making investments in innovative, transformational energy and energy related technology companies that generate competitive solutions which address the most pressing issues the industry is facing.
“Braemar’s breadth of industry exposure paired with their deep bench of experts and knowledge across energy/chemical industry venture backed businesses has provided us with significant industry access and financial support when most needed,” said Jeff Uhrig, CEO of Sirrus. “Sirrus and Braemar are equally passionate about delivering exceptional customer service, reducing energy consumption, and delivering financial returns to investors. By joining forces, we were able to significantly accelerate these efforts.”
About Sirrus, Inc.
Founded in 2009 and formerly known as Bioformix, Sirrus was founded to commercialize efficient, high-performance monomers and derivatives. Sirrus technologies result in the reduction or elimination of energy consumption and improved product performance for advanced manufacturing and assembly industries. For more information, visit www.sirruschemistry.com.
About Braemar Energy Ventures
Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm's principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams developing next generation technologies for energy and energy related markets, that can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise. Additional information is available at BraemarEnergy.com or on Twitter at twitter.com/braemarenergy or @BraemarEnergy.
Braemar first led Sirrus’ $13.6 million Series A-1 round of funding, and later led the Company’s A-2 and B round financing in 2013 and 2015, respectively.
“We immediately recognized Sirrus’ potential to develop breakthrough chemical technology that enhanced efficiency, improved performance, and reduced energy consumption and costs for customers across multiple manufacturing industries,” said William Lese, Managing Partner of Braemar Energy Ventures and Board Member of Sirrus. “Since our initial investment, Sirrus’ has managed to obtain over 25 global patents. This track record of innovation has driven Braemar’s continuous support of the commercialization plan for Sirrus’ novel platform. In addition to developing and patenting state-of-the-art technologies, Sirrus has had a unique ability to focus on development efforts that provide unique customer solutions, including lower solvent, less toxic formulation ingredients, and energy efficiency.”
Since 2002, industry veterans Bill Lese and Neil Suslak at Braemar Energy Ventures have been focused exclusively on making investments in innovative, transformational energy and energy related technology companies that generate competitive solutions which address the most pressing issues the industry is facing.
“Braemar’s breadth of industry exposure paired with their deep bench of experts and knowledge across energy/chemical industry venture backed businesses has provided us with significant industry access and financial support when most needed,” said Jeff Uhrig, CEO of Sirrus. “Sirrus and Braemar are equally passionate about delivering exceptional customer service, reducing energy consumption, and delivering financial returns to investors. By joining forces, we were able to significantly accelerate these efforts.”
About Sirrus, Inc.
Founded in 2009 and formerly known as Bioformix, Sirrus was founded to commercialize efficient, high-performance monomers and derivatives. Sirrus technologies result in the reduction or elimination of energy consumption and improved product performance for advanced manufacturing and assembly industries. For more information, visit www.sirruschemistry.com.
About Braemar Energy Ventures
Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm's principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams developing next generation technologies for energy and energy related markets, that can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise. Additional information is available at BraemarEnergy.com or on Twitter at twitter.com/braemarenergy or @BraemarEnergy.
Contacts
Sirrus
Mike Powers, 248-760-6598
mikepowers@sirruschemistry.com
or
For Braemar Energy Ventures
Alison McIntyre, 212-279-3115 ext. 269
amcintyre@prosek.com
Mike Powers, 248-760-6598
mikepowers@sirruschemistry.com
or
For Braemar Energy Ventures
Alison McIntyre, 212-279-3115 ext. 269
amcintyre@prosek.com
Source: Braemar Energy Ventures
SAISON INFORMATION SYSTEMS: HULFT SIGNS SALES AGENT AGREEMENT WITH FURUKAWA (THAILAND) STRENGTHENING SALES AND INSTALLATION SUPPORT FRAMEWORK FOR DATASPIDER SERVISTA IN THAILAND
TOKYO, March 28 (Bernama-BUSINESS WIRE) -- SAISON INFORMATION SYSTEMS CO., LTD (JASDAQ:9640) (Headquarters: Toshima-ku, Tokyo; President: Kazuhiro Uchida; hereafter “SAISON INFORMATION SYSTEMS”) has today announced that its subsidiary in Singapore, HULFT Pte. Ltd., has signed a HULFT Implementation Partner Agreement (*1) with Furukawa (Thailand) Co., Ltd. (Headquarters: Bangkok, Thailand; Representative: Managing Director, Shiro Nakamura; hereafter “Furukawa (Thailand)”), as a sales and installation partner in the Thai region for DataSpider Servista and DataSpider Mini for Excel, which are marketed by the HULFT business globally. HULFT is a series of file transfer middleware products with the fourth highest share of the market in terms of worldwide sales (*2), and the leading share of the domestic market in Japan (*3).
Background of the HULFT Distributor Agreement
In the ASEAN region including Thailand, ERP and other systems are increasingly being introduced and expanded in line with the local business growth of Japanese manufacturers and other companies. This is translating into growing demand for making effective use of data in existing systems for business management, for improved data accuracy and speed of use of data through automated data entry, and processing into systems currently under manual control with Microsoft Excel and other applications.
To respond to needs for data integration, SAISON INFORMATION SYSTEMS decided to sign a distributor agent agreement with Furukawa (Thailand), which had a proven track record in introduction of ERP (Dynamics AX) in the ASEAN region.
Plans for the Future
An expert in IT systems in the manufacturing industry, the System Integration Department of Furukawa (Thailand) Co., Ltd. has system planning and construction capabilities. On the basis of the agreement, these capabilities will be fully utilized to create new business opportunities and to expand business in the area of data integration for customers engaging in manufacturing in Thailand and the rest of the ASEAN region. In addition, sales, introduction and support activities will be conducted for DataSpider Servista and DataSpider Mini for Excel, which are marketed globally by the HULFT Business Unit. HULFT Pte. Ltd. will provide the System Integration Department of Furukawa (Thailand) Co., Ltd. with technical assistance for the HULFT Series products as well as secondary support and sales promotion assistance to powerfully back the System Integration Department of Furukawa (Thailand) Co., Ltd. in its business operations.
In the ASEAN region including Thailand, ERP and other systems are increasingly being introduced and expanded in line with the local business growth of Japanese manufacturers and other companies. This is translating into growing demand for making effective use of data in existing systems for business management, for improved data accuracy and speed of use of data through automated data entry, and processing into systems currently under manual control with Microsoft Excel and other applications.
To respond to needs for data integration, SAISON INFORMATION SYSTEMS decided to sign a distributor agent agreement with Furukawa (Thailand), which had a proven track record in introduction of ERP (Dynamics AX) in the ASEAN region.
Plans for the Future
An expert in IT systems in the manufacturing industry, the System Integration Department of Furukawa (Thailand) Co., Ltd. has system planning and construction capabilities. On the basis of the agreement, these capabilities will be fully utilized to create new business opportunities and to expand business in the area of data integration for customers engaging in manufacturing in Thailand and the rest of the ASEAN region. In addition, sales, introduction and support activities will be conducted for DataSpider Servista and DataSpider Mini for Excel, which are marketed globally by the HULFT Business Unit. HULFT Pte. Ltd. will provide the System Integration Department of Furukawa (Thailand) Co., Ltd. with technical assistance for the HULFT Series products as well as secondary support and sales promotion assistance to powerfully back the System Integration Department of Furukawa (Thailand) Co., Ltd. in its business operations.
J.D. POWER'S RANKING SEES TOKYO'S IMPERIAL HOTEL HIGHEST IN CUSTOMER SATISFACTION
TOKYO, March 28 (Bernama-AsiaNet) --
| Tokyo's landmark, 126-year-old Imperial Hotel has been ranked the highest luxury-class hotel in Japan for customer satisfaction in J.D. Power's "Japan Hotel Guest Satisfaction Index Study in 2016." The Imperial was ranked top in the segment of guestroom rates of over 35,000 Japanese yen per night, the first time since the studies began in 2006. Guests identified The Imperial's Front Desk Services and the attention of its staff as favorable points. The quality of staff attention extended to patrons is extremely influential in forming guest evaluations regardless of room rates. (Photo: http://prw.kyodonews.jp/prwfile/release/M100617/201703270285/_prw_PI1fl_bOYghFvn.jpg) The Imperial was acclaimed by respondents for the quality of care provided by the staff, the accommodations themselves, and the hotel hardware in general. The Imperial was recognized as providing a very high caliber of staff attention. Comments were evaluated highest in the areas of Hotel Services, Hotel Facilities, Reservation, Check-In/Check-Out and Cost & Fees. This year marked the first year The Imperial took this position as the highest-ranking Japanese hotel, as well as ranking first in a separate Japanese Customer Satisfaction Index (JCSI) for eight consecutive years. The Imperial brand was ranked far above other first-class city properties in the JCSI, to which some 120,000 respondents replied. Rankings related to tourism include budget hotels, airlines and travel agents, in addition to major city hotels. Only The Imperial Hotel and a delivery service company have ranked in the top place for eight consecutive years. The hotel's "Imperial Club" was also highly evaluated in the J.D. Power study for 2016 for the high degree of customer service, maintaining its top position for the second straight year. Tokyo's Imperial was founded by Japanese aristocracy in 1890 as a venue to receive an increasing number of foreign dignitaries visiting Japan in the Meiji Period. It initiated many new services and facilities which have since become standard services for major Japanese hotels, such as all-inclusive Shinto and Christian wedding services, shopping arcades, and in-house laundry service, and introduced diverse Western cuisine to the Japanese public. It is the traditional favorite of dignitaries and celebrities from abroad visiting the Japanese capital. Website: http://www.imperialhotel.co.jp/e/ Source: Imperial Hotel, Ltd. |
--BERNAMA |
BIOLINE LAUNCHES NEW JETSEQ DNA QUANTIFICATION KITS
CINCINNATI, March 28 (Bernama-GLOBE NEWSWIRE) -- Bioline, The PCR Company, a wholly-owned subsidiary of Meridian Bioscience, Inc. (NASDAQ:VIVO) today announced the further expansion of the JetSeq™ portfolio for Next Generation Sequencing (NGS) sample preparation.
The new JetSeq™ Library Quantification Kit is a qPCR-based assay that provides fast, accurate and sensitive quantification of adaptor-ligated DNA fragments during the preparation of Illumina compatible NGS libraries. The JetSeq™ Library Quantification Kit relies on SYBR®1 Green I for detection and contains all of the components required for library quantification, including dilution buffer, P5 and P7 adapter primers and six pre-diluted DNA standards to minimize pipetting, reduce variability and thereby increase reproducibility. The kit has sufficient standards to quantify eighteen libraries on individual plates or up to seventy-six libraries when multiple libraries are quantified on the same plate.
http://mrem.bernama.com/viewsm.php?idm=28773
The new JetSeq™ Library Quantification Kit is a qPCR-based assay that provides fast, accurate and sensitive quantification of adaptor-ligated DNA fragments during the preparation of Illumina compatible NGS libraries. The JetSeq™ Library Quantification Kit relies on SYBR®1 Green I for detection and contains all of the components required for library quantification, including dilution buffer, P5 and P7 adapter primers and six pre-diluted DNA standards to minimize pipetting, reduce variability and thereby increase reproducibility. The kit has sufficient standards to quantify eighteen libraries on individual plates or up to seventy-six libraries when multiple libraries are quantified on the same plate.
http://mrem.bernama.com/viewsm.php?idm=28773
Tuesday, March 28, 2017
Latest clinical research confirms that IQOS reduces smoker exposure to select harmful chemicals as compared to cigarette smoke
Studies conducted to date clearly indicate that IQOS is likely to present less risk of harm compared to smoking
LAUSANNE, Switzerland, March 28 (BUSINESS WIRE)-- Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) today announces the positive results from an advanced clinical study on IQOS, the company’s first electronically heated tobacco product, published in the peer-reviewed journal Nicotine & Tobacco Research.
Conducted in Japan over a three-month period by the well-known clinical research organization, the Osaki Hospital Tokyo Heart Center, the study showed that smokers who switched to IQOS:
-Reduced their exposure to 15 harmful chemicals to levels that approached those of smokers who quit smoking;
-Showed improvements in measured health indicators specific to smoking-related diseases, such as lung and heart disease. In all cases, the health indicators improved in the same direction as seen in smokers who quit. Further testing through a longer-term study is underway; and
-Found the product satisfying and were likely to completely switch to it.
The research was conducted in line with internationally respected guidelines for clinical trials, such as Good Clinical Practice as defined by the International Conference for Harmonization of Technical Requirements for Pharmaceuticals for Human Use. 160 smokers were divided into three groups: continued smoking, quitting, and complete switching to IQOS. Participants spent five days at a clinic and continued the experiment at home for an additional 85 days, during which time biological samples and measurements were regularly taken.
PMI’s research program to confirm the risk reduction potential of IQOS includes laboratory and clinical studies, research on actual product use, and evaluation of how well smokers understand communications related to reduced risk. This and a related study are the latest of an eight-part clinical research program completed on IQOS to support reduced exposure and preliminary improvements in health outcomes. A one-year study with about 1,000 participants is currently ongoing to further support the current strong indications of risk reduction.
PMI’s Chief Medical Officer, Dr. Frank Lüdicke, said: “This study is an important step to confirm that while IQOS is not risk-free, it is a better choice for the millions of smokers who do not quit. It clearly indicates that smokers who switch to IQOS reduce their exposure to harmful compounds to levels that approach those of smokers who quit smoking. The study also clearly indicates areas of significant risk reduction which we are currently confirming through a longer term study.”
PMI is committed to replacing cigarettes with smoke-free products as soon as possible to the benefit of smokers, society and public health. Over 1.4 million smokers have already switched to IQOS, and the company has plans to expand commercialization to key cities in 30-35 countries by the end of 2017. Since 2008, PMI has hired over 400 scientists and experts and invested over USD 3 billion in research, development and early commercialization for its portfolio of smoke-free products. The company has published over 200 peer-reviewed publications and book chapters in the past ten years.
The study is available on www.pmiscience.com.
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the world’s leading international tobacco company, with six of the world's top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the development and commercialization of Reduced-Risk Products (RRPs). RRPs is the term PMI uses to refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continued smoking. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and industry-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements. For more information, see www.pmi.com and www.pmiscience.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170327005401/en/
Contacts
Media enquiries
Philip Morris International media office
T: +41 (0)58 242 4500
E: media@pmi.com
Source: Philip Morris International
LAUSANNE, Switzerland, March 28 (BUSINESS WIRE)-- Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) today announces the positive results from an advanced clinical study on IQOS, the company’s first electronically heated tobacco product, published in the peer-reviewed journal Nicotine & Tobacco Research.
Conducted in Japan over a three-month period by the well-known clinical research organization, the Osaki Hospital Tokyo Heart Center, the study showed that smokers who switched to IQOS:
-Reduced their exposure to 15 harmful chemicals to levels that approached those of smokers who quit smoking;
-Showed improvements in measured health indicators specific to smoking-related diseases, such as lung and heart disease. In all cases, the health indicators improved in the same direction as seen in smokers who quit. Further testing through a longer-term study is underway; and
-Found the product satisfying and were likely to completely switch to it.
The research was conducted in line with internationally respected guidelines for clinical trials, such as Good Clinical Practice as defined by the International Conference for Harmonization of Technical Requirements for Pharmaceuticals for Human Use. 160 smokers were divided into three groups: continued smoking, quitting, and complete switching to IQOS. Participants spent five days at a clinic and continued the experiment at home for an additional 85 days, during which time biological samples and measurements were regularly taken.
PMI’s research program to confirm the risk reduction potential of IQOS includes laboratory and clinical studies, research on actual product use, and evaluation of how well smokers understand communications related to reduced risk. This and a related study are the latest of an eight-part clinical research program completed on IQOS to support reduced exposure and preliminary improvements in health outcomes. A one-year study with about 1,000 participants is currently ongoing to further support the current strong indications of risk reduction.
PMI’s Chief Medical Officer, Dr. Frank Lüdicke, said: “This study is an important step to confirm that while IQOS is not risk-free, it is a better choice for the millions of smokers who do not quit. It clearly indicates that smokers who switch to IQOS reduce their exposure to harmful compounds to levels that approach those of smokers who quit smoking. The study also clearly indicates areas of significant risk reduction which we are currently confirming through a longer term study.”
PMI is committed to replacing cigarettes with smoke-free products as soon as possible to the benefit of smokers, society and public health. Over 1.4 million smokers have already switched to IQOS, and the company has plans to expand commercialization to key cities in 30-35 countries by the end of 2017. Since 2008, PMI has hired over 400 scientists and experts and invested over USD 3 billion in research, development and early commercialization for its portfolio of smoke-free products. The company has published over 200 peer-reviewed publications and book chapters in the past ten years.
The study is available on www.pmiscience.com.
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the world’s leading international tobacco company, with six of the world's top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the development and commercialization of Reduced-Risk Products (RRPs). RRPs is the term PMI uses to refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continued smoking. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and industry-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements. For more information, see www.pmi.com and www.pmiscience.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170327005401/en/
Contacts
Media enquiries
Philip Morris International media office
T: +41 (0)58 242 4500
E: media@pmi.com
Source: Philip Morris International
EXPORT DEVELOPMENT CANADA SETS UP NEW AND FIRST FINANCING BRANCH IN SINGAPORE, FORECASTING BILLIONS IN NEW LOANS FOR ASIA, ASEAN AND OCEANIA COMPANIES
- Singapore branch to help EDC grow annual loan bookings to USD 4 billion by 2021
- Potential to partner with commercial banks in syndicated financing facilities for Asian companies to support their trade-focused businesses
- New branch office to support and augment current representations in Jakarta, Mumbai, Delhi, Beijing and Shanghai
- Potential to partner with commercial banks in syndicated financing facilities for Asian companies to support their trade-focused businesses
- New branch office to support and augment current representations in Jakarta, Mumbai, Delhi, Beijing and Shanghai
SINGAPORE, March 24 (Bernama-BUSINESS WIRE) -- Export Development Canada (EDC), Canada’s dynamic export credit agency, today announced its new and first global branch outside of Canada, in Singapore.
EDC’s new branch will bring its global-scale financing business closer to projects and companies across Asia, ASEAN, and Oceania by negotiating and underwriting its financing from Singapore.
The new Singapore branch is expected to play an important role in doubling EDC’s loan bookings by 2021, when it hopes to be providing over USD 4 billion in new commercial financing annually. EDC’s focus will be developing financing relationships with corporations and project owners across the region that may already have Canadian suppliers, or where there is potential for future Canadian supply. EDC can also support Canadian foreign investment and foreign investment into Canada where there is a direct link to Canadian exports.
In addition, EDC will actively pursue opportunities to partner with commercial banks within club and syndicated financing facilities of select corporations across Asia and Oceania. The ASEAN market is of particular interest for EDC’s Singapore branch, with its fast growing economies and more than 625 million people.
“ASEAN is a dynamic region that is growing at a phenomenal rate, and growing ASEAN companies need capital to support their growth aspirations and trade focused business,” said Bill Brown, Regional Vice-President, Asia, EDC. “EDC offers Asian corporations a stable, global-scale financier with a long-term partnership horizon. Not only do we provide financing, but we can help your company reduce costs, be more productive, and more innovative by introducing Canadian technology and expertise.”
EDC’s new branch will bring its global-scale financing business closer to projects and companies across Asia, ASEAN, and Oceania by negotiating and underwriting its financing from Singapore.
The new Singapore branch is expected to play an important role in doubling EDC’s loan bookings by 2021, when it hopes to be providing over USD 4 billion in new commercial financing annually. EDC’s focus will be developing financing relationships with corporations and project owners across the region that may already have Canadian suppliers, or where there is potential for future Canadian supply. EDC can also support Canadian foreign investment and foreign investment into Canada where there is a direct link to Canadian exports.
In addition, EDC will actively pursue opportunities to partner with commercial banks within club and syndicated financing facilities of select corporations across Asia and Oceania. The ASEAN market is of particular interest for EDC’s Singapore branch, with its fast growing economies and more than 625 million people.
“ASEAN is a dynamic region that is growing at a phenomenal rate, and growing ASEAN companies need capital to support their growth aspirations and trade focused business,” said Bill Brown, Regional Vice-President, Asia, EDC. “EDC offers Asian corporations a stable, global-scale financier with a long-term partnership horizon. Not only do we provide financing, but we can help your company reduce costs, be more productive, and more innovative by introducing Canadian technology and expertise.”
Monday, March 27, 2017
POLYPLASTICS RELEASES CONTENTS ABOUT MATERIALS TO HELP YOUR INNOVATION
TOKYO, March 22 (Bernama) --
| - DURANEX(R) PBT Flame Retardant Grades - Polyplastics Co., Ltd. has released information about its recent development of unique materials that can improve customers' product quality in terms of fire-safety and other additional features. (Image: http://prw.kyodonews.jp/prwfile/release/M100475/201703169998/_prw_PI1fl_AE5E79p5.gif) Polybutylene terephthalate (PBT) is an engineering resin with well-balanced properties. Different types of PBT can be created through the addition of various additives, allowing it to be used in a variety of applications -- from the electrical/electronic to the automotive fields. Recent years have seen a real escalation in safety requirements for reducing the risk of fires, and in material requirements for improving the durability of components. At Polyplastics, we develop flame-retardant PBT grades that meet these demands. We are ready to meet your every need. DURANEX(R) PBT NF Series with Halogen-Free Flame Retardant: The NF Series satisfies the requirement for halogen-free flame-retardant materials derived from corporate policies and environmental protection initiatives. In addition, the drastically improved tracking resistance of the NF Series allows for increased design freedom, including shortening of the creepage distance between terminals. DURANEX(R) PBT 330GW with High Glow Wire Ignition Temperature: 330GW exhibits outstanding glow wire characteristics, with an ignition temperature (GWIT) of 775 C or above. According to IEC60335-1, an international standard relating to the safety of major household appliances, parts composed of 330GW are exempt from glow wire testing (GWT) regardless of their thickness or shape. http://mrem.bernama.com/viewsm.php?idm=28743 |
Saturday, March 25, 2017
A.M. BEST AFFIRMS CREDIT RATINGS OF ANSVAR INSURANCE LIMITED
SINGAPORE, March 24 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Ansvar Insurance Limited (Ansvar) (Australia). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Ansvar’s strong risk-adjusted capitalization and established business profile among Australia’s faith and care organizations. The ratings also acknowledge Ansvar’s low underwriting leverage, comprehensive reinsurance program and high-quality investment portfolio.
http://mrem.bernama.com/viewsm.php?idm=28757
The ratings reflect Ansvar’s strong risk-adjusted capitalization and established business profile among Australia’s faith and care organizations. The ratings also acknowledge Ansvar’s low underwriting leverage, comprehensive reinsurance program and high-quality investment portfolio.
http://mrem.bernama.com/viewsm.php?idm=28757
Friday, March 24, 2017
SPEEDCAST OPENS PAPUA NEW GUINEA OFFICE
SYDNEY, March 23 (Bernama-BUSINESS WIRE) -- SpeedCast International Ltd (ASX: SDA) has opened an office in Port Moresby, Papua New Guinea (PNG), to support the company's growing customer base in the energy and enterprise markets. SpeedCast has been operating in the country for more than 10 years with an international gateway and self-sufficient standalone teleport, but this is its first office facility in PNG. The team includes 10 employees who focus on operations, engineering, sales and local support.
"Our new office in Papua New Guinea shows our commitment to investing in the country," said Pierre-Jean Beylier, CEO, SpeedCast. "We are pleased to employ local, highly skilled and trained workers that support our customers in the country."
"Our new office in Papua New Guinea shows our commitment to investing in the country," said Pierre-Jean Beylier, CEO, SpeedCast. "We are pleased to employ local, highly skilled and trained workers that support our customers in the country."
A.M. BEST UPGRADES ISSUER CREDIT RATING OF PARTNERS LIFE LIMITED
SINGAPORE, March 23 (Bernama-BUSINESS WIRE) -- A.M. Best has upgraded the Long-Term Issuer Credit Rating to "bbb " from "bbb" and affirmed the Financial Strength Rating of B (Good) of Partners Life Limited (Partners Life) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
The rating actions reflect significant improvement in Partners Life's capital position, due to continued strong earnings and significant capital contribution. In addition, the NZD 200 million investment from the Blackstone Group has improved Partners Life's financial flexibility.
The rating actions reflect significant improvement in Partners Life's capital position, due to continued strong earnings and significant capital contribution. In addition, the NZD 200 million investment from the Blackstone Group has improved Partners Life's financial flexibility.
Thursday, March 23, 2017
ULLINK LAUNCHES MIFID II TRADE REPORTING SOLUTION
Multi-asset solution will enable firms to comply with post-trade transparency rules set to come into force in 2018
LONDON, March 23 (Bernama-BUSINESS WIRE) -- Ullink, a global provider of electronic trading and connectivity solutions to the financial community, has launched its MiFID II compliant trade reporting solution to help its clients meet regulatory requirements for greater accuracy in reporting and timeliness of data collection.
http://mrem.bernama.com/viewsm.php?idm=28749
LONDON, March 23 (Bernama-BUSINESS WIRE) -- Ullink, a global provider of electronic trading and connectivity solutions to the financial community, has launched its MiFID II compliant trade reporting solution to help its clients meet regulatory requirements for greater accuracy in reporting and timeliness of data collection.
http://mrem.bernama.com/viewsm.php?idm=28749
MICHAEL KORS ACCESS EXPANDS WITH NEW SMARTWATCHES, NEW APPS, NEW FACES AND NEW MARKETS
LONDON, March 23 (Bernama-BUSINESS WIRE) -- Michael Kors (NYSE:KORS), a global luxury fashion brand, is pleased to announce a host of new products and initiatives designed to further the growth and excitement generated by last fall’s launch of MICHAEL KORS ACCESS, the brand’s line of smartwatches and activity trackers.
“It’s clear to me that the future of fashion will combine great design, personal style and innovative technology,” says Michael Kors, “and the amazing response to MICHAEL KORS ACCESS has confirmed that that future is now. We’re thrilled to be able to offer this next generation of smartwatches and hybrids.”
http://mrem.bernama.com/viewsm.php?idm=28755
“It’s clear to me that the future of fashion will combine great design, personal style and innovative technology,” says Michael Kors, “and the amazing response to MICHAEL KORS ACCESS has confirmed that that future is now. We’re thrilled to be able to offer this next generation of smartwatches and hybrids.”
http://mrem.bernama.com/viewsm.php?idm=28755
3D SYSTEMS UNVEILS INDUSTRY'S FIRST SCALABLE, FULLY-INTEGRATED ADDITIVE MANUFACTURING PLATFORM
- New platform will transform production of mass customized and complex end use parts while meeting durability and repeatability requirements of production environments
- First shipment made to Fortune 50 industrial company
CHICAGO, March 21 (Bernama-GLOBE NEWSWIRE) -- Delivering on its strategy to transform 3D manufacturing workflows, 3D Systems (NYSE:DDD) today announced the industry’s first modular, scalable and fully-integrated additive manufacturing platform. 3D Systems’ disruptive Figure 4 production platform produces plastic parts more than 50 times faster than current systems, delivering dramatically lower total cost of operations while offering competitive and compelling comparisons to conventional methods.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4d3900cc-7a84-4f8c-83e2-437897af7887
Based on its revolutionary Figure 4 technology, 3D Systems’ new platform allows customers to tailor configurations and select materials to address specific applications. Configurations range from single-print engine machines to fully automated, high-volume production systems with 16 or more print engines, automated material delivery and integrated post-processing.
The company recently shipped the first system to a Fortune 50 industrial customer, and plans to ramp customer-specific shipments throughout the second half of 2017.
- First shipment made to Fortune 50 industrial company
CHICAGO, March 21 (Bernama-GLOBE NEWSWIRE) -- Delivering on its strategy to transform 3D manufacturing workflows, 3D Systems (NYSE:DDD) today announced the industry’s first modular, scalable and fully-integrated additive manufacturing platform. 3D Systems’ disruptive Figure 4 production platform produces plastic parts more than 50 times faster than current systems, delivering dramatically lower total cost of operations while offering competitive and compelling comparisons to conventional methods.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4d3900cc-7a84-4f8c-83e2-437897af7887
Based on its revolutionary Figure 4 technology, 3D Systems’ new platform allows customers to tailor configurations and select materials to address specific applications. Configurations range from single-print engine machines to fully automated, high-volume production systems with 16 or more print engines, automated material delivery and integrated post-processing.
The company recently shipped the first system to a Fortune 50 industrial customer, and plans to ramp customer-specific shipments throughout the second half of 2017.
SPEEDCAST OPENS THE WORLD TO THE PEOPLE OF RURAL AFGHANISTAN BY PROVIDING SATELLITE AND OFF-GRID SMALL CELL COMMUNICATIONS SOLUTIONS
Successful Proof of Concept Leads to Long-term Collaboration Agreement for 200 Afghan Villages for Fully Managed End-to-End Small Cell Communications Solution
SYDNEY, March 22 (Bernama-BUSINESS WIRE) -- SpeedCast International Limited (ASX:SDA), a leading global communications and network service provider, today announced that it is connecting residents in remote villages in Afghanistan through a partnership with one of the country's largest CDMA operators, Wasel Telecom. Connectivity is provided through a fully managed, off-grid small cell end-to-end solution that includes satellite communications, solar panels, base transceiver stations (BTS) and accompanying towers.
"The solution SpeedCast is providing here is making a difference in people’s lives," said PJ Beylier, CEO, SpeedCast. "We are enabling the rural population in Afghanistan to gain access to modern communications infrastructure so they can see the world with a new perspective. The arrangement has the potential to bring broadband, cellular services, e-health services, e-learning and telemedicine to the most remote areas of the globe."
SYDNEY, March 22 (Bernama-BUSINESS WIRE) -- SpeedCast International Limited (ASX:SDA), a leading global communications and network service provider, today announced that it is connecting residents in remote villages in Afghanistan through a partnership with one of the country's largest CDMA operators, Wasel Telecom. Connectivity is provided through a fully managed, off-grid small cell end-to-end solution that includes satellite communications, solar panels, base transceiver stations (BTS) and accompanying towers.
"The solution SpeedCast is providing here is making a difference in people’s lives," said PJ Beylier, CEO, SpeedCast. "We are enabling the rural population in Afghanistan to gain access to modern communications infrastructure so they can see the world with a new perspective. The arrangement has the potential to bring broadband, cellular services, e-health services, e-learning and telemedicine to the most remote areas of the globe."
Wednesday, March 22, 2017
RedHill Biopharma Announces First Patient Dosed in the Open-Label Extension Study to the Phase III Study with RHB-104 for Crohn’s Disease
TEL-AVIV, Israel, March 22 (GLOBE NEWSWIRE) -- RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases and cancer, today announced dosing of the first patient in the open-label extension study to the Phase III study with RHB-104 for the treatment of Crohn’s Disease (the MAP US study).
RHB-104 is a proprietary, orally-administered, potentially groundbreaking antibiotic combination therapy with potent intracellular, antimycobacterial and anti-inflammatory properties.
Source : RedHill Biopharma Ltd.
RHB-104 is a proprietary, orally-administered, potentially groundbreaking antibiotic combination therapy with potent intracellular, antimycobacterial and anti-inflammatory properties.
Source : RedHill Biopharma Ltd.
LE CORDON BLEU JAPAN LAUNCHES JAPANESE CUISINE DIPLOMA, COMMENCES RECRUITMENT FOR 2017 AUTUMN TERM
TOKYO, March 21 (Bernama-AsiaNet) -- In response to the increased international market growth in Japanese cuisine since the UNESCO recognition of 'washoku' as an intangible cultural heritage, Le Cordon Bleu Japan is launching a Japanese cuisine diploma program. As a global leader in culinary and hospitality education, with a network of more than 35 institutions in over 20 countries, Le Cordon Bleu has drawn upon over 120 years of expertise to create this new program.
(Image: http://prw.kyodonews.jp/opn/release/201703159946/?images)
This 4-level program covers a comprehensive range of topics to provide students with a full range of skills and knowledge relating to authentic Japanese cuisine. Students will embark on a journey to discover a whole new world of technical skills, cooking methodologies, specialist ingredients, equipment and tableware applied to over 200 recipes in traditional, regional and modern Japanese cuisine.
(Image: http://prw.kyodonews.jp/opn/release/201703159946/?images)
This 4-level program covers a comprehensive range of topics to provide students with a full range of skills and knowledge relating to authentic Japanese cuisine. Students will embark on a journey to discover a whole new world of technical skills, cooking methodologies, specialist ingredients, equipment and tableware applied to over 200 recipes in traditional, regional and modern Japanese cuisine.
3D SYSTEMS' NEW DENTAL MANUFACTURING PLATFORM ACCELERATES SHIFT TO DIGITAL
Revolutionary Figure 4 platform combined with NextDent materials delivers disruptive total cost of operations from chair-side to labs
CHICAGO, March 21 (Bernama-GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) today unveiled a next-generation additive manufacturing platform, based on the company's Figure 4 technology and NextDent materials, that delivers better, faster and more predictable patient treatments with disruptive total cost of operations that can revolutionize the multibillion-dollar dental industry.
The company expects the new platform will be able to achieve improvements of up to 10 times in total cost of operations, along with significantly reduced fabrication times and far less material waste.
CHICAGO, March 21 (Bernama-GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) today unveiled a next-generation additive manufacturing platform, based on the company's Figure 4 technology and NextDent materials, that delivers better, faster and more predictable patient treatments with disruptive total cost of operations that can revolutionize the multibillion-dollar dental industry.
The company expects the new platform will be able to achieve improvements of up to 10 times in total cost of operations, along with significantly reduced fabrication times and far less material waste.
Tuesday, March 21, 2017
ZEROSTACK OPENS ASIA/PACIFIC REGION WITH M5 TECHNOLOGIES
Singapore region positioned for strong private cloud growth
MOUNTAIN VIEW, Calif., March 20 (Bernama-BUSINESS WIRE) -- ZeroStack, Inc., the leader in making self-driving private cloud affordable for all companies, today announced that it has signed a reseller agreement with M5 Technologies, an IT infrastructure expert headquartered in Singapore, adept at both traditional and cutting edge technologies, with activities currently spanning and increasing across Asia South.
"Our region is going through a rapid economic shift to cloud services, requiring on-premises options that can also be integrated with local hosting, managed services providers and public cloud providers," said Joel Norton, ZeroStack's Regional Manager Asia South at M5 Technologies and assigned to positioning ZeroStack's cloud platform. "This service delivery landscape is an ideal opportunity for M5 to position ZeroStack's leading integrated solutions as fundamental and foundational to a business' digital transformation."
MOUNTAIN VIEW, Calif., March 20 (Bernama-BUSINESS WIRE) -- ZeroStack, Inc., the leader in making self-driving private cloud affordable for all companies, today announced that it has signed a reseller agreement with M5 Technologies, an IT infrastructure expert headquartered in Singapore, adept at both traditional and cutting edge technologies, with activities currently spanning and increasing across Asia South.
"Our region is going through a rapid economic shift to cloud services, requiring on-premises options that can also be integrated with local hosting, managed services providers and public cloud providers," said Joel Norton, ZeroStack's Regional Manager Asia South at M5 Technologies and assigned to positioning ZeroStack's cloud platform. "This service delivery landscape is an ideal opportunity for M5 to position ZeroStack's leading integrated solutions as fundamental and foundational to a business' digital transformation."
JNTO LAUNCHES "JAPAN INCENTIVES" WEBSITE IN 4 LANGUAGES TO SHOWCASE JAPAN'S APPEAL AS MICE DESTINATION
TOKYO, March 21 (Bernama-AsiaNet) -- The Japan National Tourism Organization's (JNTO) has launched a specialized website for Japan incentives, featuring information on incentives in the country. The incentives site is hosted within JNTO's Japan MEETINGS & INCENTIVES website for promoting MICE (meetings, incentives, conventions and exhibitions/events).
(Image: http://prw.kyodonews.jp/opn/release/201703169999/?images)
(Image: http://prw.kyodonews.jp/opn/release/201703169999/?images)
Sunday, March 19, 2017
A.M. BEST AFFIRMS CREDIT RATINGS OF STARR PROPERTY & CASUALTY INSURANCE (CHINA) COMPANY, LIMITED
HONG KONG, March 17 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Starr Property & Casualty Insurance (China) Company, Limited (Starr China) (China). The outlook of these Credit Ratings (ratings) is stable.
The rating affirmations reflect Starr China's supportive risk-adjusted capitalization under a strengthened surplus position, and an improved operating expense ratio. In addition, Starr China receives business and operational support from Starr International Company, Inc. (SICO) and its insurance subsidiaries, as well as a capital commitment from Starr Insurance & Reinsurance Limited (SIRL), a company within SICO that is a 20% shareholder of Starr China. Starr China also assumes overseas treaty business ceded from the group, which has accounted for a substantial portion of the company's total gross premiums written since 2015.
The rating affirmations reflect Starr China's supportive risk-adjusted capitalization under a strengthened surplus position, and an improved operating expense ratio. In addition, Starr China receives business and operational support from Starr International Company, Inc. (SICO) and its insurance subsidiaries, as well as a capital commitment from Starr Insurance & Reinsurance Limited (SIRL), a company within SICO that is a 20% shareholder of Starr China. Starr China also assumes overseas treaty business ceded from the group, which has accounted for a substantial portion of the company's total gross premiums written since 2015.
NEC'S VIDEO FACE RECOGNITION TECHNOLOGY RANKS FIRST IN NIST TESTING
TOKYO, Mar. 16, 2017 /Kyodo JBN-AsiaNet/ --
| NEC Corporation (NEC; TSE: 6701) announced on March 16 that NEC's face recognition technology achieved the highest performance evaluation in the recent Face in Video Evaluation (FIVE) performed by the U.S. National Institute of Standards and Technology (NIST). Results were released in NIST's Interagency Report 8173: Face In Video Evaluation (FIVE) Face Recognition of Non-Cooperative Subjects. NEC's technology took first place for the fourth consecutive time following the 2009 Multiple Biometric Grand Challenge (MBGC 2009), 2010-2011 Multiple Biometrics Evaluation (MBE 2010-2011), and 2013 Face Recognition Vendor Test (FRVT 2013). http://www.nec.com/en/press/201703/global_20170316_01.html http://mrem.bernama.com/viewsm.php?idm=28696 |
Friday, March 17, 2017
IMIMOBILE SIGNS GLOBAL FRAMEWORK AGREEMENT WITH TELENOR GROUP
LONDON, March 16 (Bernama-GLOBE NEWSWIRE) -- IMImobile (LSE:IMO), a cloud communications software and solutions provider, today announces that it has signed a Global Framework Agreement with Telenor Group following a competitive tender process.
Under the agreement, IMImobile will supply its cloud Digital Service Delivery Platform, VAS (Value Added Services) Virtualization System and services for Telenor Business Units across the Telenor Group. The platform will be deployed in a secure cloud environment, and will support Telenor’s long term vision to virtualise network capabilities and improve the efficiency of its core business.
Telenor Group is one of the leading mobile operators, providing tele, data and media services for 214 million subscribers in 13 markets across Scandinavia, Central and Eastern Europe and Asia.
Under the agreement, IMImobile will supply its cloud Digital Service Delivery Platform, VAS (Value Added Services) Virtualization System and services for Telenor Business Units across the Telenor Group. The platform will be deployed in a secure cloud environment, and will support Telenor’s long term vision to virtualise network capabilities and improve the efficiency of its core business.
Telenor Group is one of the leading mobile operators, providing tele, data and media services for 214 million subscribers in 13 markets across Scandinavia, Central and Eastern Europe and Asia.
BORRELLI WALSH (CAYMAN) LIMITED ANNOUNCES VISIONCHINA MEDIA INC PLACED IN LIQUIDATION AND DELISTING SHARES
GRAND CAYMAN, Cayman Islands, March 16 (Bernama-GLOBE NEWSWIRE) -- The following news is being issued by Borrelli Walsh (Cayman) Limited, representatives of VisionChina Media Inc (NASDAQ:VISIN) (“Company”) – the Company announces today that by order of the Grand Court made on 2 March 2017, Margot MacInnis of Borrelli Walsh (Cayman) Limited, G/F Harbour Place, 103 South Church Street, George Town, Grand Cayman, Cayman Islands and Cosimo Borrelli of Borrelli Walsh Limited of Level 17, Tower 1, Admiralty Centre, 18 Harcourt Road, Hong Kong have been appointed as joint official liquidators of the Company (“Liquidators”).
http://mrem.bernama.com/viewsm.php?idm=28695
http://mrem.bernama.com/viewsm.php?idm=28695
SPEEDCAST RETURNS INTERNET SERVICES TO CHRISTMAS ISLAND
SYDNEY, March 16 (Bernama-BUSINESS WIRE) -- SpeedCast International Ltd (ASX: SDA) has reached an agreement with the Australian Government to deliver Wireless and 4G network services on Christmas Island until June 30, 2017, to allow a transition period for Australia’s National Broadband Network services to be installed more widely on the island.
The local ISP ceased to provide internet services to 1,000 locals and businesses on March 1, 2017, disconnecting one of Australia’s most remote islands. SpeedCast, as a full service communications provider, was notified one week ago and rapidly initiated discussions with partners and the Australian Government to meet the needs of islanders.
http://mrem.bernama.com/viewsm.php?idm=28693
The local ISP ceased to provide internet services to 1,000 locals and businesses on March 1, 2017, disconnecting one of Australia’s most remote islands. SpeedCast, as a full service communications provider, was notified one week ago and rapidly initiated discussions with partners and the Australian Government to meet the needs of islanders.
http://mrem.bernama.com/viewsm.php?idm=28693
Thursday, March 16, 2017
VISTAJET COMPLETES 100,000TH FLIGHT AS WHOLE AND FRACTIONAL AIRCRAFT PURCHASES DECLINE
Company records 40% of new business from former aircraft owners as customers shift toward sharing economy models
- Company took on 15 new business jets in 2016, equaling 26% fleet growth
- Has now connected 250,000 passengers to over 1,600 airports in 187 countries
- New customers included principals as young as 25, and major technology companies purchasing 400+ flight hours
- 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership
LONDON, March 14 (Bernama-GLOBE NEWSWIRE) -- VistaJet, the first and only global aviation company, today announced that it has safely performed over 100,000 flights in its history, recording significant growth as corporations and UHNWIs continue using business jets to travel the world.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/afab1e13-6b9f-4ec0-b0f8-e6b5e6434476
http://www.globenewswire.com/NewsRoom/AttachmentNg/a3b654d1-e790-4450-8576-695e75cd1824
In the first nine months of 2016, 7.7% fewer new aircraft were delivered year-on-year, and the total number of deliveries remained at the same level as it was in 20121. At the same time, VistaJet took on 15 brand new business jets in 2016 to meet increasing demand, equaling 26% fleet growth. The company has now connected 250,000 passengers to over 1,600 airports in 187 countries.
The company forecasts this growth to continue as a rising number of millennials enter the business aviation market and look to participate in the shared economy trend rather than own a depreciating asset. Among its new customers were principals as young as 25, and major technology companies purchasing 400+ flight hours for their executives to fly worldwide. The firm reports that 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership in favour of anytime access to its global fleet.
VistaJet Program customers accounted for the majority of the company’s business in 2016. The VistaJet Program is a bespoke solution aimed at individuals and corporations flying between 50 and 1,000+ hours per year, offering guaranteed access anytime and anywhere to a global fleet of silver and red branded aircraft.
As part of its 71 business jets, VistaJet now also counts the largest privately owned Global 6000 and Challenger 350 fleet in the industry. In 2016 the company moved its global headquarters to growing European business hub, Malta, whilst expanding its offices in key cities such as Los Angeles, New York City, Hong Kong, Seoul and Lisbon.
Chairman and Founder Thomas Flohr said:
“What we’re seeing is that due to broader uncertainty and changing attitudes to ownership, while entrepreneurs and corporations want the flexibility and convenience of using a business aircraft, they don’t want the asset risk or the up-front costs. Celebrating our 100,000th flight is a real indication that customers have found the answers they are looking for in our business model. We have invested in our fleet, our people, and our global infrastructure, to offer an unmatched service.
- Company took on 15 new business jets in 2016, equaling 26% fleet growth
- Has now connected 250,000 passengers to over 1,600 airports in 187 countries
- New customers included principals as young as 25, and major technology companies purchasing 400+ flight hours
- 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership
LONDON, March 14 (Bernama-GLOBE NEWSWIRE) -- VistaJet, the first and only global aviation company, today announced that it has safely performed over 100,000 flights in its history, recording significant growth as corporations and UHNWIs continue using business jets to travel the world.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/afab1e13-6b9f-4ec0-b0f8-e6b5e6434476
http://www.globenewswire.com/NewsRoom/AttachmentNg/a3b654d1-e790-4450-8576-695e75cd1824
In the first nine months of 2016, 7.7% fewer new aircraft were delivered year-on-year, and the total number of deliveries remained at the same level as it was in 20121. At the same time, VistaJet took on 15 brand new business jets in 2016 to meet increasing demand, equaling 26% fleet growth. The company has now connected 250,000 passengers to over 1,600 airports in 187 countries.
The company forecasts this growth to continue as a rising number of millennials enter the business aviation market and look to participate in the shared economy trend rather than own a depreciating asset. Among its new customers were principals as young as 25, and major technology companies purchasing 400+ flight hours for their executives to fly worldwide. The firm reports that 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership in favour of anytime access to its global fleet.
VistaJet Program customers accounted for the majority of the company’s business in 2016. The VistaJet Program is a bespoke solution aimed at individuals and corporations flying between 50 and 1,000+ hours per year, offering guaranteed access anytime and anywhere to a global fleet of silver and red branded aircraft.
As part of its 71 business jets, VistaJet now also counts the largest privately owned Global 6000 and Challenger 350 fleet in the industry. In 2016 the company moved its global headquarters to growing European business hub, Malta, whilst expanding its offices in key cities such as Los Angeles, New York City, Hong Kong, Seoul and Lisbon.
Chairman and Founder Thomas Flohr said:
“What we’re seeing is that due to broader uncertainty and changing attitudes to ownership, while entrepreneurs and corporations want the flexibility and convenience of using a business aircraft, they don’t want the asset risk or the up-front costs. Celebrating our 100,000th flight is a real indication that customers have found the answers they are looking for in our business model. We have invested in our fleet, our people, and our global infrastructure, to offer an unmatched service.
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