WINGS ANNOUNCES AIRCRAFT ACQUISITIONS

NEWPORT BEACH, Calif., March 30 (Bernama-BUSINESS WIRE) -- Wings Capital Partners LLC (“Wings”) announced today the purchase of two narrowbody commercial aircraft, adding one Boeing 737-8 MAX aircraft and one Airbus A321-200 aircraft to its portfolio. This transaction, coupled with other recent acquisitions, has added seven narrowbody aircraft to the Wings portfolio over the last two quarters. Each of the newly purchased aircraft are on lease to prominent airlines in Europe and the United States.

“Growing the Wings’ portfolio with high quality, young aircraft is a core tenet of our long term strategy,” said Nicolas P. Stable, Senior Vice President, Head of Aircraft Transactions.

Notably, one acquisition involved the transfer of the beneficial interest in the aircraft (with a lease attached) from SMBC Aviation Capital over the newly-created GATS online platform, a first for both companies.

“SMBC Aviation Capital is pleased to continue our trading partnership with Wings Capital Partners,” said Michael Littleton, Head of Aircraft Trading, SMBC Aviation Capital. “We are also delighted to have completed this transfer using the GATS platform, a first for all parties involved and we value the support of the teams at Wings and the airline that made this possible.”

About Wings Capital Partners

Wings Capital Partners LLC (Wings) is a private, full-service aircraft leasing platform primarily investing in single-aisle, in-production commercial jet aircraft on lease to airlines around the world. Led by best-in-class management team with significant aviation leasing experience (34 years average for senior team) and long-standing airline, lessor, banking, investor and legal relationships.

Wings is owned by active investors, Corrum Capital Management, Sightway Capital, a Two Sigma Company, and the Wings Management Team.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20220329006019/en/ 

Contact

Cathy Egan
media@wingscap.com 

Source : Wings Capital Partners LLC 

--BERNAMA

Sun Hung Kai Properties Insurance Limited Credit Ratings affirmed - AM Best

KUALA LUMPUR, March 28 -- 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.

According to a statement, the outlook of these Credit Ratings (ratings) is stable.

The ratings reflect SHKPI’s balance sheet strength, which AM Best assesses 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 (BCAR), is maintained at the strongest level.

The 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, AM Best considers the company’s capital buffer is sufficient to absorb the associated investment risks. The company’s reinsurance programme remained appropriate, with reinsurer panels in good credit quality.

SHKPI is a wholly owned subsidiary of Sun Hung Kai Properties Limited, one of the largest property development and investment conglomerates in Hong Kong. It benefits from its parental network to write most of its business from associated and subsidiary companies.

The stable outlooks reflect 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.

Negative rating actions could occur if there is significant deterioration in SHKPI’s operating performance, for example, due to lower investment returns or weakened underwriting results. 

United States-headquartered AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

More details at www.ambest.com.

-- BERNAMA

NIPPON EXPRESS (MIDDLE EAST) BECOMES FIRST JAPANESE LOGISTICS COMPANY TO ACQUIRE GDP CERTIFICATION IN MIDDLE EAST

TOKYO, March 29 (Bernama) -- Nippon Express (Middle East) L.L.C. (hereinafter "NX Middle East"), a group company of Nippon Express Holdings, Inc., on February 3, 2022, became the first Japanese logistics company in the Middle East to obtain Good Distribution Practice (GDP) certification for forwarding operations, inclusive of temporary storage, at its Jebel Ali Free Zone Logistics Center in Dubai, evidencing its compliance with GDP standards for the proper distribution of pharmaceuticals.

Logo: https://kyodonewsprwire.jp/img/202203249072-O3-yM6iEBfY

Photo1: NX Middle East Head Office
https://kyodonewsprwire.jp/img/202203249072-O2-7fDG2zHr

Photo2: Jebel Ali Free Zone Logistics Center
https://kyodonewsprwire.jp/img/202203249072-O1-7p3Y74C0

The United Arab Emirates (UAE) has been making focused efforts to attract the healthcare industry, and numerous pharmaceutical manufacturers and R&D institutions are expected to set up operations there in future. Dubai, the largest city in the UAE, functions as a hub for COVID-19 vaccine transport in the Middle East and Africa, and is also home to the world's largest hub warehouse for pharmaceutical aid supplies from U.N. agencies such as the World Food Programme (WFP).

Having acquired GDP certification for temporary storage and air/ocean forwarding of pharmaceutical products, NX Middle East will be combining the NX Group's international temperature-controlled transport services with temporary storage and forwarding functions at its GDP-certified warehouse to provide a safe and high-quality pharmaceutical distribution platform.

The NX Group, formerly the Nippon Express Group which renamed its corporate group name following transition to a holding company system in January, will continue stepping up its initiatives in the pharmaceutical industry, identified as a priority industry in the Group's Business Plan, and globally enhancing and expanding its services to meet the increasingly sophisticated and diversified pharmaceutical transport needs of its customers.

Name and address of facility
Name: Jebel Ali Free Zone Logistics Center, Nippon Express (Middle East) L.L.C.
Address: Jebel Ali Free Zone Plot No. S10701, Dubai, U.A.E.

Nippon Express website: https://www.nipponexpress.com/

NX Group's official LinkedIn account:
https://www.linkedin.com/company/nippon-express-group/

Source: Nippon Express Holdings, Inc.

--BERNAMA

Godhwani, Bresnahan in Berkshire Hathaway Specialty Insurance executive leadership roles

KUALA LUMPUR, March 24 -- Berkshire Hathaway Specialty Insurance (BHSI) has announced Sanjay Godhwani named President, North America Region, while David Bresnahan will take on the role of Global Chief Operating Officer.

“Sanjay and Dave have been pivotal in the building of BHSI since our launch in 2013, helping to build our product lines, our talented team and our positive culture,” said BHSI President and CEO, Peter Eastwood.

“In their new roles, they will have a continued positive impact on our team and our ability to bring certainty and service excellence to our customers and distribution partners around the globe,” he said in a statement.

Godhwani will be responsible for all North America Region underwriting and underwriting support groups, customer & broker engagement, and BHSI’s Global Catastrophe Engineering & Analytics group.

With more than 25 years of industry experience and being a fellow of the Casualty Actuarial Society, he continues to be based in Boston.

In his new role, Bresnahan, who has more than three decades of insurance industry experience, will oversee real estate and administration, finance, audit, information technology and operations throughout BHSI’s global platform. He continues to be based in Boston.

Berkshire Hathaway Specialty Insurance provides commercial property, casualty, healthcare professional liability, executive and professional lines, transactional liability, surety, marine, travel, programs, accident and health, medical stop loss, homeowners, and multinational insurance.

Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Brisbane, Cologne, Dubai, Dublin, Frankfurt, Hong Kong, and, Kuala Lumpur, among others.

More details at www.bhspecialty.com.

-- BERNAMA

Nan Shan General Insurance Co Ltd Credit Ratings assigned - AM Best

KUALA LUMPUR, March 18 -- Global credit rating agency, AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of ‘a-’ (Excellent) to Nan Shan General Insurance Co Ltd (Nan Shan General) Taiwan. The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Nan Shan General’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 (ERM).

According to a statement, Nan Shan General was established in 1962. On Sept 1, 2016, it was fully acquired by Nan Shan Life Insurance Co Ltd (Nan Shan Life), which is owned by Ruen Chen Investment Holding Co Ltd (Ruen Chen), a Taiwan-based joint venture funded by Ruentex Group (collective stake of 80 per cent of Ruen Chen) and Pou Chen Group (20 per cent).

Nan Shan General’s very strong level of balance sheet strength is underpinned by its strongest level of risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), as well as the protective reinsurance arrangements, the diversified fixed-income oriented investment portfolio and strong liquidity.

United States-headquartered AM Best expects the company’s BCAR score to exhibit a downward trend over the forecast period as increases in underwriting and investment risks outpace organic growth in capital and surplus due to the moderately high dividend payout ratio. Notwithstanding, the company’s capital position is expected to remain supportive of its current ratings over the short to intermediate term.

During 2016 to 2020, Nan Shan General reported positive operating results, with average return-on-equity of 6.6 per cent for the five-year period, based on adjusted capital and surplus.

In recent years, the company’s investment performance continued to benefit from stable streams of interest and dividend income, as well as favourable capital gains. Going forward, AM Best expects the company’s asset allocation strategy to remain largely stable and generate low yet consistent net investment yields.

The company remains a small player in Taiwan’s non-life insurance market, with a market share of 3.2 per cent based on direct written premium in 2021. Leveraging the distribution support from Nan Shan Life’s life agency force, which contributed 85 per cent of Nan Shan General’s premium revenue in 2020, the company’s underwriting portfolio consists of a high proportion of personal line products, in particular voluntary motor.

For more information, visit www.ambest.com.

-- BERNAMA

TDCX board of directors authorises US$30 million share repurchase programme

KUALA LUMPUR, March 15 -- TDCX Inc, a leading high-growth digital customer experience solutions provider for technology and blue-chip companies, announced its board of directors has authorised a US$30 million share repurchase programme. (US$1 = RM4.205)

The repurchase programme has no expiration date and may be suspended, modified or discontinued at any time without prior notice.

According to a statement, TDCX aims to enhance shareholder return through the share repurchase programme, with the Company expecting to fund repurchases under this programme with its existing cash balance.

The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means.

These depend on market conditions and in accordance with applicable rules and regulations and its insider trading policy.

The Company's board of directors will review the share repurchase programme periodically and may authorise adjustment of its terms and size.

Apart from helping clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint, TDCX also serves clients in fintech, gaming, technology, home sharing and travel, digital advertising and social media, streaming and e-commerce.

TDCX employs more than 14,000 employees across 26 campuses globally, specifically Singapore, where it is headquartered and Malaysia, Thailand, the Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain and Colombia.

For more information, visit: www.tdcx.com.

-- BERNAMA

EAGLE EYE NETWORKS INTRODUCES EAGLE EYE LPR, MAKING HIGHLY ACCURATE LICENSE PLATE RECOGNITION POSSIBLE WITH ANY SECURITY CAMERA

Eagle Eye Networks Introduces Eagle Eye LPR, Making Highly Accurate License Plate Recognition Possible with any Security Camera 

AUSTIN, Texas, March 11 (Bernama-GLOBE NEWSWIRE) -- Eagle Eye Networks, the global leader in cloud video surveillance, today launched Eagle Eye LPR (license plate recognition), which uses artificial intelligence (AI) in a true cloud-based system for high accuracy in all kinds of challenging conditions. Eagle Eye LPR operates on readily available security cameras making it affordable and practical for today’s business owners.

“We’re seeing increased demand for LPR/ANPR for security and business optimization. Eagle Eye LPR is designed to be easy to deploy and manage, and it does not require the purchase of special cameras,” said Dean Drako, CEO of Eagle Eye Networks. “Our industry-leading AI not only provides high accuracy, Eagle Eye cloud LPR is continuously improved to support new license plates and increase accuracy.”

Powered by Eagle Eye Networks industry-leading AI and analytics, Eagle Eye LPR works with the Eagle Eye Networks Vehicle Surveillance Package (VSP) to enable seamless monitoring of vehicles across multiple locations.

Eagle Eye Networks supports many manufacturers’ LPR products including cameras. Eagle Eye Networks operates an open system giving customers choice. The Eagle Eye Cloud VMS will continue to support camera and other LPR technologies.

The benefits of Eagle Eye LPR include:

·  Camera Agnostic: Works securely with nearly any IP or other camera
·  Affordable: Does not require specialty cameras, onsite hardware or onsite maintenance
·  High Accuracy: Eagle Eye’s AI provides industry-leading accuracy even for non-standard license plates and in challenging lighting and environmental conditions
·  Flexibility: Open API for unlimited integrations with other technology partners
·  Scalability: Manage and add locations, cameras, features with the click of a button
·  Continuous Delivery: AI LPR is continually improved to support newer license plates, and all Eagle Eye development innovations are instantly delivered to customers via the cloud
·  Broad Geographic LPR/ANPR Support: North America, Mexico, EU, UK, India, Singapore, Malaysia, Australia 

Target applications for Eagle Eye LPR include:

·  Smart Parking with LPR-based automation
·  Corporate Offices - Secure, smooth vehicle entry/exit
·  Healthcare and Education Campuses - Touchless access control
·  Home Owners Associations (HOAs) and Multi-Family Homes - Neighborhood safety
·  Critical Infrastructure, Industrial - Multi-site remote monitoring
·  Restaurants, Retail, Curbside Pickup - Improved customer experience
·  Hospitality, and more
 
 Eagle Eye LPR offers resellers opportunities to enter new markets, to provide additional services, and to increase revenue.

“With Eagle Eye LPR, there’s no major hardware swap or installation, you can use existing cameras,” said Lon Bazelais, president of Grid Squared Systems, an Eagle Eye Networks certified security systems integrator based in New York City. “They have made it super easy for us and for our clients. Eagle Eye license plate recognition removes the hassle and expense of LPR systems. Now, Eagle Eye LPR will allow us to enter new vertical markets, notably parking facilities, which is a huge opportunity for us in New York City. We’re also excited to bring this advanced technology to our existing clients who want to add LPR to their current security systems."

Brian West, President of ParkNGo in Dayton, Ohio who is using Eagle Eye LPR to modernize their overall security posture, added “we're seriously streamlining parking operations and improving the experience for customers at the same time. With Eagle Eye LPR, our customers can enter and exit the lot without even rolling down their windows. Their prepaid parking reservation is automatically applied and the experience is just short of magical. We’re impressed with the high accuracy of the Eagle Eye LPR—their artificial intelligence (AI) makes the difference—and it is so simple for our employees to use. The total cost of ownership is reduced as the solution works with a low-cost ONVIF camera, and the managed service from Eagle Eye assures me of continuous upgrades and support.”

LPR is also known as Automatic Number Plate Recognition (ANPR) or Automatic License Plate Recognition (ALPR). Eagle Eye LPR is available now. Visit our site for more information.

ABOUT EAGLE EYE NETWORKS
Eagle Eye Networks is the global leader in cloud video surveillance, delivering cyber-secure cloud-based video with artificial intelligence (AI) and analytics to make businesses more efficient and the world a safer place. The Eagle Eye Cloud VMS (video management system) is the only platform robust and flexible enough to power the future of video surveillance and intelligence. Eagle Eye is based in Austin, Texas with offices in Amsterdam, Bangalore, and Tokyo. Learn more at een.com.   

EAGLE EYE PRESS CONTACT
GLOBAL HQ
Martha Entwistle
mentwistle@een.com 
+1-512-473-0500
 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3053614f-7b00-4a40-9f25-9d16bd67207b 

Source: Eagle Eye Networks

--BERNAMA

TDCX declares unaudited financial results for fourth quarter, full year 2021

KUALA LUMPUR, March 10 -- TDCX Inc (TDCX or the Company), a leading high-growth digital customer experience solutions provider for technology and blue-chip companies, has announced its unaudited financial results for the fourth quarter and full year ended Dec 31, 2021.

In a statement, Chief Executive Officer and Founder of TDCX, Laurent Junique said: “We end the year on a high note with record revenue and earnings.

“In 2021, we successfully listed on the New York Stock Exchange, welcomed our highest number of new clients in a year from high-growth sectors and delivered operationally by increasing headcount by 30 per cent and expanding into new geographies.

“These achievements are the result of our unwavering commitment and focus on pursuing long-term, quality growth. It is also a testament to our ability to solve complex customer experience challenges for new economy players and to help established firms transform their customer experiences.”

Full Year 2021 Financial Highlights include total revenue of US$410.7 million, representing 27.7 per cent year-on-year growth; and, profit for the period of US$76.8 million, representing 20.6 per cent year-on-year growth. (US$1 = RM4.183)

Meanwhile, Fourth Quarter 2021 Financial Highlights include total revenue of US$114.5 million, representing 28.8 per cent year-on-year growth; and, profit for the period of US$21.3 million, representing 7.0 per cent year-on-year growth. This included a US$3.9 million equity-settled share-based payment expense under the TDCX Performance Share Plan, which commenced in the fourth quarter of 2021.

Business Highlights include added 20 new logos in FY2021, more than double the nine logos added in FY2020; and, 52 clients as at Dec 31, 2021, a 37 per cent increase compared with 38 as at Dec 31, 2020.

The Company has also opened new office in South Korea in Q4 2021, with three projects launched.

TDCX employs more than 14,000 employees across 26 campuses globally, specifically Singapore, where it is headquartered, Malaysia, Thailand, the Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain and Colombia. 

More details at www.tdcx.com.

-- BERNAMA