KUALA LUMPUR, April 26 (Bernama) -- Teledyne FLIR IIS (Integrated Imaging Solutions), a Teledyne Technologies company, has unveiled the Forge 1GigE IP67, the latest in its industrial camera series designed to perform in harsh industrial environments while ensuring highly efficient production capabilities.
According to a statement, Forge 1GigE IP67 is the latest in the company’s commitment to deliver advanced imaging systems for factory automation.
“We are proud to announce the launch of our latest machine vision product, exclusively designed for smart agriculture, food, and beverage industries. Unlike general-purpose cameras in a crowded machine vision market, our solution is tailored to address the complexities of a specific industry.
“We focus on key markets, and develop solutions from the ground up, armed with a clear understanding of the market, customer partnerships, and technology innovation,” said the company’s General Manager, Sadiq Panjwani.
The Forge 1GigE IP67 camera series has an IP67 cylindrical enclosure for optimal and easy system integration, simplified post operation washing, and the prevention of dirt accumulation.
A wide selection of IP67 rated components are available with partners such as Smart Vision Lights and Components Express LLC, creating an entire IP67 vision ecosystem for customers.
With advanced on-camera features such as auto-brightness functions (Automatic Gain Control and Auto-Exposure), the new cameras dynamically adjust in variable and outdoor lighting conditions.
The IEEE1588 protocol enables multi-camera image capture synchronisation, and Lossless Compression provides higher frame rates and lower bandwidth requirements, maximising camera output without compromising image quality for high-speed applications.
-- BERNAMA
Friday, April 26, 2024
TELEDYNE FLIR IIS LATEST FORGE CAMERA SERIES DELIVERS IN HARSH INDUSTRIAL ENVIRONMENTS
Wednesday, April 24, 2024
NX (South Asia & Oceania) To Host Indonesia Logistics Webinar Next Month
KUALA LUMPUR, April 23 (Bernama) -- Nippon Express (South Asia & Oceania) Pte Ltd (NXSAO), a group company of Nippon Express Holdings Inc, will be holding a webinar titled "Indonesia Logistics Situation" on May 13 and 14.
The increasing globalisation of business has brought growing attention to Indonesia as one of Asia’s growth markets and this webinar will provide basic information on doing business in the country as well as detailed explanations of logistics conditions there.
According to a statement, all interested parties are welcome to participate, including companies considering a move into the Indonesian market and companies already doing business in the country.
Also included in the webinar will be an introduction to Nippon Express (Indonesia) Group; as well as import and export regulations.
The webinar is free of charge with attendance limited to the first 800 participants, and deadline for registration is on May 7.
-- BERNAMA
Friday, April 19, 2024
YUGABYTE EMBRACES 'NO DOWNTIME, NO LIMITS,' AS THE THEME OF THE UPCOMING DISTRIBUTED SQL SUMMIT ASIA
Experts and Executives from Airwallex, Helpshift, IMDA, Navi, Rakuten, Singtel, Tagbangers, and UL Systems to Present at the Virtual Event
This year’s virtual summit, taking place on Wednesday, April 24, includes speakers from companies including Airwallex, Helpshift, IMDA, Navi, Airwallex, Rakuten, Singtel, Tagbangers, UL Systems, Yugabyte, and more. DSS Asia is a free event and the latest speaker schedule is available here.
DSS Asia is a place for the region’s YugabyteDB community of developers, customers, partners, and industry thought leaders to discuss the challenges and opportunities of database modernization and transformation.
Expert speakers will discuss use cases, best practices, and real-world accomplishments, and share how they overcame database modernization difficulties with distributed SQL.
“Every year DSS Asia gets bigger and better as we gain momentum in the region. It’s exciting to see this surge in attendance and interest as we meet to share groundbreaking use cases and discuss the benefits distributed SQL brings to companies of all sizes and industries,” commented Karthik Ranganathan, co-founder and co-CEO of Yugabyte. “This year our expert industry speakers will showcase the power and versatility of distributed SQL and share why it should be at the center of your database modernization journey. It promises to be another thought-provoking event, and one you shouldn’t miss!”
DSS Asia features three tailored talk tracks—Technology, Japan, and Customers & Partners to ensure attendees can choose sessions that best meet their needs and interests. There are a wide range of diverse sessions available during the event, providing options for every level of interest, from technical deep dives to customer stories and best practices.
Thursday, April 18, 2024
DALI Alliance Unveils DALI+ Test, Certification Specifications
KUALA LUMPUR, April 17 (Bernama) -- The DALI Alliance, the international authority in lighting technology standardisation, has unveiled much-anticipated certification details for its wireless specification, DALI+ over Thread.
As lighting specifications increasingly seek smarter, sustainable and interoperable solutions, DALI+ emerges as a crucial enabler of standardised wireless or internet protocol (IP)-based lighting systems.
Collaboration with partners such as Thread Group has resulted in the integration of enhanced security and encryption solutions, ensuring the integrity and confidentiality of data transmission within DALI+ networks.
“This represents a significant advancement in DALI-enabled technology. Our members and users will experience the benefits of enhanced wireless interoperability and strengthened sustainability credentials.
“By leveraging the potential of DALI technology, we are not only revolutionising lighting controls but also laying the groundwork for a more sustainable future for generations to come,” said DALI Alliance General Manager, Paul Drosihn in a statement.
Meanwhile, Thread Vice President Commercial Buildings, Klaus Waechter said this partnership underscores the company’s commitment to advancing wireless connectivity and interoperability for commercial grade markets and the lighting industry in general.
Key features of DALI+ with Thread include an IP version 6 (IPv6) based wireless mesh network created by Thread, in which off-the-shelf Thread border routers can also be used to connect multiple Thread networks through IP technologies, such as Ethernet or Wi-Fi.
Furthermore, DALI+ supports a wide array of control devices, including occupancy sensors, light sensors, switches, sliders, rotaries as well as pushbuttons, while control gear support currently includes LED drivers with the three optional data parts namely luminaire data, power and energy, as well as diagnostics data.
-- BERNAMA
SAUDI ARABIA HIGHLIGHTS INVESTMENT INITIATIVES IN TOURISM AT INTERNATIONAL HOSPITALITY INVESTMENT FORUM
Mr. Mahmoud Abdullhadi, Deputy Minister of Destinations Enablement. (Photo: AETOSWire)
RIYADH, Saudi Arabia, April 18 (Bernama-BUSINESS WIRE) -- The Saudi Ministry of Tourism is currently taking a prominent stage at the International Hospitality Investment Forum (IHIF), presenting a unique opportunity for global investors to dive into the thriving tourism landscape of the Kingdom. With the spotlight on the Tourism Investment Enablers Program (TIEP), that was recently announced, Saudi Arabia is aggressively pushing towards its Vision 2030 goal of being a top global tourism destination for investors and tourists alike.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240417879947/en/
This strategic presentation comes at a time when Saudi Arabia's tourism sector celebrates an incredible milestone of 100 million visitors in 2023, seven years ahead of schedule, marking a significant stride towards economic diversification and emphasizing the sector's growing contribution to the national GDP. The flagship Hospitality Investment Enablers (HIE), one of TIEP’s initiatives, aims to leverage this momentum, planning an investment infusion into the hospitality sector of up to SAR 42 billion in key destinations, which alone is anticipated to create 120,000 new jobs by 2030.
The IHIF audience is getting a close look at Saudi Arabia's plans to expand its accommodation capacity dramatically. The Kingdom is targeting an increase in hotel rooms to over 500,000 and aiming to welcome 150 million visitors annually by 2030. The HIE stands at the core of these ambitions, designed to energize the hospitality sector by introducing a new wave of supply in targeted tourism hotspots, significantly enriching the Kingdom's diverse tourism offerings.
The initiative is supported by a suite of strategic enablers, including access to government-owned land under favorable terms, streamlined project development processes, and regulatory adjustments aimed at reducing barriers to market entry and operational costs. This comprehensive approach is expected to catalyze a significant socio-economic transformation within the Kingdom, with private sector investments projected to reach SAR 42.3 billion and a forecasted annual GDP increase of SAR 16.4 billion by 2030.
Saudi Arabia’s active participation in IHIF aims to showcase the Kingdom as an enticing investment frontier for international investors, emphasizing the lucrative opportunities within the tourism and hospitality sectors. This global stage provides the perfect platform for the Ministry of Tourism to forge lasting partnerships and highlight the Kingdom's commitment to elevating its tourism industry standards, fostering sustainable growth, and offering robust support to investors.
Through this engagement, the Saudi Ministry of Tourism is not just showcasing investment opportunities; it is inviting the world to be a part of Saudi Arabia's ambitious journey towards redefining global tourism norms. Investors are encouraged to seize this unparalleled chance to collaborate with the Kingdom, as it paves the way for a new era of tourism excellence aligned with Vision 2030's transformative objectives.
Source: AETOSWire
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240417879947/en/
Contact
Najla Alkhalifa
Media and Communications
Najla@mt.gov.sa
Source : Saudi Ministry of Tourism
Wednesday, April 17, 2024
Zscaler Selected To Bolster GLP’s Cloud Security Transformation Journey
KUALA LUMPUR, April 16 (Bernama) -- Zscaler Inc, the leader in cloud security, announced that GLP, a global real estate logistics provider and investment manager, is leveraging Zscaler for Users, part of Zscaler Zero Trust Exchange cloud security platform, to further strengthen its cybersecurity practice across its portfolio.
Zscaler Senior Vice President, Asia Pacific & Japan, Andreas Hartl said the severity, frequency and volume of cybersecurity threats faced by multinational corporations is escalating faster each year.
“Zscaler is committed to simplifying while accelerating our customers' security transformation journeys through using our Zero Trust Exchange, the world’s largest cloud security platform.
“We are thrilled to be identified as the most secure solution partner-of-choice by a leading brand like GLP and we are excited to support them in this journey to secure their operations globally,” he said in a statement.
Meanwhile, GLP Global Chief Information Officer, Miao Song said: “With the increasing physical and digital footprint of the company, it was imperative for us to be proactive in creating a cybersecurity strategy that would ensure our critical assets are well protected from escalating threats.
“We were looking for a partner that can help us implement a robust Zero Trust strategy and selected Zscaler for its capabilities in helping us attain our desired outcome.”
GLP determined the security limitations and risk associated with their legacy security stack built on virtual private networks (VPNs) was not able to protect their users, data and applications from the increase in sophisticated cyber attacks.
As part of the first phase of their Zero Trust transformation, GLP is deploying the Zscaler Private Access (ZPA) solutions that will enable both GLP staff as well as third-party vendors to securely and effortlessly access private apps and operational technology (OT) devices.
With Zscaler for Users, GLP and its affiliated users will be able to take advantage of Zero Trust connectivity directly to applications, which is especially beneficial in managing assets across the enterprise’s hybrid cloud environment globally.
-- BERNAMA
Tuesday, April 16, 2024
NX Group Now Offers NX-GREEN SAF Program In Japan
KUALA LUMPUR, April 15 (Bernama) -- Nippon Express Holdings Inc has started offering the NX-GREEN SAF Program in Japan, enabling its valued customers to purchase the environmental attributes derived from sustainable aviation fuel (SAF) to reduce carbon dioxide (CO2) emissions in customers' supply chains.
The programme which began service at NX Europe in July last year was a carbon-insetting programme that can be used to reduce CO2 emissions from all air transport services provided by the NX Group.
According to a statement, air transport utilising SAF can reduce CO2 emissions by about 80 per cent compared to conventional fossil fuels.
The programme is available for transport services arranged by the NX Group, which is the first Japanese forwarder to offer such a service without restrictions on the choice of airlines.
Customers participating in the programme will be issued with a CO2 reduction verification statement verified by SGS, one of the world's largest certification bodies, that can be used in information disclosure required by the Task Force on Climate-related Financial Disclosures (TCFD) and CDP (formerly Carbon Disclosure Project).
To address climate change, the NX Group has set the goals of reducing its own CO2 emissions (Scope 1 and 2) by 50 per cent from 2013 levels by 2030, and of helping realise carbon-neutral societies by 2050 (Scope 1, 2 and 3).
The NX Group will continue practicing sustainability management from a long-term perspective and contributing to better lives for people and the development of sustainable societies by addressing climate change through its business.
-- BERNAMA
Monday, April 15, 2024
Taiwan Earthquake Claims Unlikely To Exceed Losses From 2016 Trembler - AM Best
KUALA LUMPUR, April 15 (Bernama) -- Earthquake-related claims for Taiwan’s commercial insurers related to this month’s seismic event are unlikely to exceed those stemming from the 2016 Meinong earthquake, given the more recent event’s greater distance from the economic centres and science parks, according to global credit rating agency AM Best.
The Best’s Commentary, “Taiwan Earthquake Claims Unlikely to Exceed 2016 Levels”, notes that the magnitude 7.2 earthquake on April 3 is not expected to add significant net claims and lead to a capital event for Taiwan’s non-life insurance industry.
AM Best senior director, analytics, Christie Lee said the non-life segment’s capitalisation was weakened from a large operating loss in 2022 due to pandemic insurance.
“The industry’s capitalisation rebounded in 2023 after capital injections from insurers’ parent companies, coupled with favourable operating results, but remained below 2021 industry capital levels by 21 per cent,” she said in a statement.
In Taiwan, residential earthquake losses are ceded to the Taiwan Residential Earthquake Insurance Fund (TREIF), hence commercial insurers mainly bear commercial and industrial losses, added the report.
Most prior major earthquakes in Taiwan resulted in claims to commercial insurers for industrial losses. More generally, significant losses for the latest event could arise from business interruption coverage.
This is due to the material role the technology and science sectors play in Taiwan’s overall economy, combined with large insured purchasing adequate insurance protection, with the vast majority of these exposures ultimately being ceded to the international reinsurance market.
-- BERNAMA
FPT SOFTWARE RECOGNIZED WITH 100 PERCENT WILLINGNESS TO RECOMMEND RATE IN 2024 GARTNER® PEER INSIGHTS™ 'VOICE OF THE CUSTOMER' : ROBOTIC PROCESS AUTOMATION
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HANOI, Vietnam, April 12 (Bernama-BUSINESS WIRE) -- Global IT Firm FPT Software has been named in the 2024 Gartner® Peer Insights™ Voice of the Customer report for Robotic Process Automation. This marks the second consecutive time that the company has been recognized for its automation solution akaBot with 100 percent of “willingness to recommend”, based on 28 reviews as of November 2023.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240411594646/en/
Access 2024 Gartner® Peer Insights™ ‘Voice of Customer’: Robotic Process Automation here.
According to the reviews in the report, 79% of FPT Software's reviews are from the Finance sector and 14% from the Healthcare sector, with 93% of its customers operating in Asia-Pacific.
In 2023, with the growth of a clientele exceeding 3,900 global enterprises across diverse industries, the Vietnamese RPA solution provider also boosted its global presence through strategic partnerships with a network of 40+ partners worldwide.
Notably, the hyperautomation solution garnered praise from a client from the Finance industry with a revenue of 50-250 million USD, describing it as “a game-changer, effortlessly handling tasks with speed and precision. It consistently operates in the background, efficiently completing tasks without any hiccups. The bot's ability to quickly and accurately accomplish tasks has greatly enhanced my productivity."
"We believe our two-time recognition in the Gartner Voice of Customer report is a testament to our established position as a reputable and reliable partner,” Bui Dinh Giap, CEO of akaBot, stated. “RPA Migration has become increasingly popular as more businesses’ choices to deal with the upcoming economic downturn. As a one-stop shop automation solution, we will continue to collaborate with more global partners, particularly in the APAC, to deliver the most comprehensive automation packages and assist global clients in staying competitive in this digitalization era.”
AMOGY PARTNERS MPA, COLLABORATORS TO DEVELOP FUTURE FUELS TRAINING HUB FOR MARITIME WORKFORCE
KUALA LUMPUR, April 15 (Bernama) -- Amogy has signed a Letter of Intent (LOI) with the Maritime and Port Authority of Singapore (MPA) and other collaborators to develop a Maritime Energy Training Facility (METF) to train maritime professionals in operating ships powered by alternative fuel systems.
Amogy Chief Executive Officer, Seonghoon Woo in a statement said: “We are thrilled to embark on this exciting and important project in partnership with the Maritime and Port Authority of Singapore and other esteemed collaborators.
“This initiative showcases Singapore's leadership in driving sustainable maritime solutions and underscores our commitment to advancing ammonia as a clean energy source for maritime shipping and equipping the global maritime workforce with the necessary skills to navigate the future of shipping.”
The LOI was signed on the Opening Day of Singapore Maritime Week 2024 by the MPA and 22 partners, including international organisations, engine makers, classification societies, trade associations, unions, and institutes of higher learning.
The establishment of a training facility follows a recommendation put forth by the Tripartite Advisory Panel, formed in early 2023, which aims to identify emerging and future skills and competencies needed to build the maritime workforce of the future.
The METF will be a decentralised facility based in Singapore, utilising the various partners’ assets and training technologies to train global seafarers in the use, manning, and operation of vessels powered by zero or near-zero emission technologies.
With hundreds of crew changes conducted daily in Singapore, the METF's establishment is strategically positioned to support vessel operators and ship management companies with their crew training needs as part of their crew change arrangements.
When fully operational, the METF is anticipated to benefit around 10,000 maritime personnel, including seafarers, from now to the 2030s.
-- BERNAMA
Saturday, April 13, 2024
AM BEST AFFIRMS HONG KONG’S TUGU INSURANCE CREDIT RATINGS
Tuesday, April 9, 2024
HONG KONG’S CMB WING LUNG INSURANCE RATED EXCELLENT - AM BEST
Tuesday, April 2, 2024
Region Smart City Awards For Asia Applications Open Until June 14
KUALA LUMPUR, March 29 (Bernama) -- Powered by World Smart City Awards, the Region Smart City Awards, which have a special focus on emerging cities in Asia, are now accepting applications with submission deadline on June 14.
The Awards aim to recognise outstanding projects, enterprises, and leaders in smart city development; foster a culture of learning and cooperation among cities in Asia; and drive diversified development.
It also advocates the sharing of successful experiences and strategic solutions, catalysing joint efforts towards digitalisation, environmental stewardship, and sustainable growth across the Asian urban landscape.
According to a statement, the evaluation principles of the Awards revolve around inclusiveness, equality, technology for good, and collaboration among multiple stakeholders.
Key facets of evaluation include diversity, innovation, relevance, impact, top-level design, citizen participation, co-creation, inclusivity, viability, and replicability of solutions.
The World Smart City Awards organised by the Smart City Expo World Congress, have been successfully held for 13 years and are acclaimed as the “Oscars” in the field of global smart city development.
Shortlisted entities will be invited to participate in the Smart City Expo World Congress · Hangzhou Stage, scheduled from Sept 25 to 29, including relevant forums, government-enterprise closed-door meetings, and the award ceremony.
From 2010 to 2025, 440 emerging-market cities are poised to propel nearly half of global gross domestic product (GDP) growth. Among them, the prominence of emerging cities in Asia is significant, harbouring 57 per cent of the world's populace, with the majority living in urban areas.
-- BERNAMA
Saturday, March 30, 2024
AM BEST AFFIRMS CREDIT RATINGS AND ASSIGNS NATIONAL SCALE RATING TO PVI INSURANCE CORPORATION
The ratings reflect PVI Insurance’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 (ERM). The ratings factor in rating enhancement from PVI Insurance’s ultimate parent, HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.).
PVI Insurance’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which is expected to remain at the strongest level over the medium term. PVI Insurance benefits from good financial flexibility, given its majority ownership by HDI V.a.G. AM Best views the company’s investment portfolio to be of moderate risk, with the majority of investments allocated toward cash and term deposits and the remainder held in non-rated corporate bonds, affiliated private equity investments and real estate. Offsetting factors include the company’s high dividend payout ratio and high reinsurance dependence to support the underwriting of large commercial property, engineering and energy risks.
AM Best assesses PVI Insurance’s operating performance as strong, supported by its five-year average return-on-equity ratio of 17.9% (2019-2023). PVI Insurance continued to deliver robust underwriting profits in 2023 and achieved a combined ratio of 92.7%. Underwriting performance is expected to remain robust over the medium term supported by profitable results in commercial and industrial lines of business. Investment returns, consisting mainly of interest and dividend income, is expected to remain as a key contributor to the company’s overall earnings.
AM Best assesses PVI Insurance’s business profile as neutral. The company became the largest non-life insurer in Vietnam based on 2022 direct premiums and it continues to grow its market share. The company has a strong market position in commercial and industrial lines of business, including energy, property, engineering, aviation and marine insurance, as supported by its affiliation with the PetroVietnam group, one of the largest state-owned oil and gas corporations in Vietnam. Support from HDI V.a.G. has enhanced PVI Insurance's technical expertise and service offerings, strengthening its position in the regional industrial risks insurance segment.
AM Best assesses PVI Insurance’s ERM approach as appropriate given the size and complexity of its current operations. PVI Insurance benefits from risk management and governance support from HDI V.a.G.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Friday, March 29, 2024
HOTEL VILLA FONTAINE PREMIER/GRAND HANEDA AIRPORT OFFERS ROOMS FEATURING POPULAR CHARACTERS
MIDEA GROUP BREAKS REVENUE AND PROFIT RECORDS WITH RMB 373.7 BILLION IN 2023
The company's success is attributed to its "Global Impact" strategy, which has resulted in overseas sales accounting for over 40% of its total sales for several years. Midea's products have been exported to over 200 countries and regions worldwide, and it is continuously expanding its overseas manufacturing layout, promoting the construction of manufacturing bases in Indonesia, India, Thailand, Brazil, Mexico, Italy, Egypt, and other countries.
Midea's new energy and industrial technology are co-builders of digital transformation and green sustainable development in the global industrial field, consolidating its leading position in the industry. The company's household air conditioning compressor business ranked first in 2023, claiming a global market share of 45%. Its household air conditioning and washing machine motors also secured the top spot globally, with market shares of 40% and 22%, respectively. Furthermore, the company’s New Energy automotive parts product lines are rapidly developed, with an expected shipment volume of 750,000 units in 2023, representing a year-on-year growth of 400%. Additionally, through the acquisition of energy companies such as CLOU Electronics and Hiconics Eco-energy, Midea has entered the energy storage industry, which holds immense market potential.
KUKA, a subsidiary of Midea, is one of the "Big Four" industrial robot companies globally and the second-largest heavyweight robot company based on sales in 2023. In 2023, KUKA Group reached record-high revenue and order volume, with particularly strong performance in the Chinese market.
Midea's intelligent building technology provides intelligent ecological integration solution provider for building construction. According to Frost & Sullivan, the company is the largest commercial air conditioning supplier in mainland China and the fifth-largest globally in 2023.
Midea Group has invested over RMB 14.5 billion in R&D, employing more than 23,000 research personnel globally. As of 2022, the company ranks seventh globally in total patent families, first among Chinese enterprises and the global home appliance industry, with over 28,000 invention patents.
Midea Group has approximately 200 subsidiaries, 33 research and development centers, and 40 major production bases worldwide, with over 190,000 employees. The company's impressive growth and record-breaking profits demonstrate its commitment to innovation, sustainability, and global expansion.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240327086107/en/
Contact
Lori Luo
Luory17@midea.com
Source : Midea Group
Tuesday, March 26, 2024
KNAV JOIN FORCES WITH NATARAJAN & SWAMINATHAN TO ENHANCE AUDITING, ADVISORY SERVICES
KUALA LUMPUR, March 27 (Bernama) -- An international accounting and advisory firm, KNAV, has merged with Natarajan & Swaminathan, a respected audit firm in Singapore, marking a strategic step in the firm’s plan to strengthen its local presence in operational countries and extend its reach in the region.
In a statement, KNAV country leader in Singapore, Dominique Tan said the merger will enhance the firm's audit service capabilities and allow the provision of tax services in Singapore.
The addition of three new partners and 27 staff members increases the KNAV Singapore team to 48, including six partners, thereby improving client service capabilities.
Meanwhile, Natarajan & Swaminathan Managing Partner, R. Narayanamohan said the merger’s potential to create new opportunities for clients and staff while preserving the relationships built over the past 70 years.
KNAV, which already has an established presence in Singapore, considers this merger as a step in-line with its fundamental strategy of strengthening its presence in the regions where it conducts the business.
The merger combines Natarajan & Swaminathan local expertise with KNAV’s global proficiency, promising clients in Singapore superior service levels, comprehensive solutions, and access to an extensive network of professionals.
Natarajan & Swaminathan will join KNAV International Limited, a member of the Forum of Firms, as a new member and will retain its name and leadership team, ensuring a smooth transition for clients and staff, post-merger.
With over seven decades of history, Natarajan & Swaminathan is renowned for its quality audit and tax services in Singapore. The team of professionals at the firm are well-versed in the local business environment and have been a reliable partner for businesses of various sizes.
As a “Partner Beyond Boundaries’, KNAV provides global assurance, tax, and advisory services, specialising in financial reporting, audits, tax filings, mergers and acquisitions, and advisory across the United States, India, the United Kingdom, Singapore, Canada, and the Netherlands.
-- BERNAMA
Monday, March 25, 2024
THE MOST GLOBAL ALIMENTARIA&HOSTELCO CONFIRMS THE STRENGTH OF THE FOOD INDUSTRY AND ITS INNOVATIVE DYNAMIC
Over 3,200 exhibiting companies from 68 countries took part in the event, to encourage business, internationalization and competitiveness in strategic sectors for the Spanish economy. Around 107,900 professionals had visited the show, 25% of them international, from 120 countries. With an estimated economic impact of 180 million euros, the figures for d'Alimentaria&Hostelco reflect the strength of the event, which occupied nearly 100,000 m2 of net exhibition space, almost all of Fira de Barcelona's Gran Vía venue.
This edition was attended by more than 900 international firms, led by Italian companies, and with a remarkable return of Asian companies, especially China, South Korea and Thailand.
The trade show reaffirmed its leadership by strengthening the complementarity of its represented sectors and offering a great business platform for its professionals. Attendees included 2,200 important buyers invited from strategic markets for the export of food and hospitality equipment, such as the European Union, the USA and Latin America, who took part in some 13,500 meetings with companies.
Food innovation, gastronomy and the rise of protein, as well as the latest trends in the hospitality sector, were the main features of the program of more than 350 activities at Alimentaria&Hostelco, in which nearly 700 prestigious experts and chefs took part.
The show was a great showcase for hundreds of innovations, including functional and healthier foods. The digital transformation that the sector is undergoing has also been confirmed and it has been possible to discover how new technologies and artificial intelligence are integrated into the industry and services with robots and new solutions that optimize restaurant management and resources, maintenance, customer service and sustainability.
The next edition of the trade fair platform organized by Fira de Barcelona will be held from 23 to 26 March 2026.
Press contacts:
Susana Santamaria – Gloria Dilluvio
ssantamaria@alimentaria.com – gdilluvio@firabarcelona.com
SOURCE : Fira De Barcelona
Saturday, March 23, 2024
Nippon Express' Group Companies To Present At Future Mobility Asia In May
KUALA LUMPUR, March 22 (Bernama) -- The group companies of Nippon Express Holdings Inc will showcase their solutions at the Future Mobility Asia Exhibition, running for three days from May 15, at the Queen Sirikit National Convention Center in Bangkok, Thailand.
The group companies are Nippon Express (South Asia and Oceania) Pte Ltd (NXSAO), Nippon Express Logistics (Thailand) Co Ltd, Nippon Express (Malaysia) Sdn Bhd, and PT. Nippon Express Indonesia.
NXSAO will demonstrate its strength in the provision of mobility logistics services, including freight forwarding, contract logistics, tire logistics and battery logistics, while introducing the group's green logistics services designed to reduce environmental pollution.
According to a statement, NXSAO has extensive experience in handling automotive clients across the region, including Singapore, Malaysia, Thailand, the Philippines, Indonesia, Cambodia, Vietnam, Bangladesh, India, Australia and New Zealand.
Major exhibits such as global logistics service provision introduces Nippon Express as a leading global logistics service provider for the mobility, technology, semiconductor, lifestyle and healthcare sectors.
Other exhibits like end-to-end automotive solutions will feature mobility-related solutions, including consulting and "kaizen," production logistics, distribution logistics, freight forwarding and aftermarket logistics, while cross-border solutions will present solutions comprising rail freight and road freight across the Southeast Asia & Oceania region.
Established in Japan in 1937, Nippon Express (NX) Group is a world-leading logistics provider with Nippon Express Holdings as its holding company, holds a strong market position in air, sea, rail, and truck transport as well as contract logistics, offering high-quality end-to-end supply chain solutions that seamlessly integrate information technology.
-- BERNAMA
Thursday, March 21, 2024
AM BEST AFFIRMS CREDIT RATINGS OF SUN HUNG KAI PROPERTIES INSURANCE LIMITED
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 very strong balance sheet strength assessment is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s higher-risk financial assets, including unlisted investments and non-investment-grade bonds, exposed its risk-adjusted capitalisation to considerable market and credit risks. Nonetheless, the company has de-risked the majority of its bond exposure to mainland China’s real estate sector in fiscal year 2023, with its bond portfolio demonstrating an improvement in the credit quality with higher diversification level. AM Best considers SHKPI’s capital level provides a sufficient buffer to absorb investment risks. Other supporting factors include the company’s strong liquidity position and appropriate reinsurance programme, with a diversified panel of financially sound reinsurers.
SHKPI has consistently delivered a strong operating performance over the past few years. Its net profit in fiscal year 2023 was a combined result of a recovery in investment performance and stable underwriting profit. SHKPI continues to benefit from its parent company’s support, both in distribution channels with minimal gross acquisition expenses as well as in access to better quality group business, leading to its favourable underwriting results. The company’s investment returns turned positive in fiscal year 2023, mainly driven by favourable interest income owing to a high interest rate environment.
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 a major part of its business from associated and subsidiary companies. The company continues to operate in a low acquisition cost business model while seeking new business opportunities within the market. SHKPI maintains a small albeit profitable presence in Hong Kong’s general insurance market, focusing on employees’ compensation insurance on a net premiums written basis.
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. Negative rating actions also could arise if there is a significant deterioration in SHKPI's risk-adjusted capitalisation, for example, due to material investment losses. Although it is unlikely in the near term, positive rating actions could arise if there is significant improvement in SHKPI's risk-adjusted capitalisation, for example, due to further improvements in asset quality and capital size.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Contact
Aaron Li
Associate Financial Analyst
+852 2827 3426
aaron.li@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Lucie Huang
Senior Financial Analyst
+852 2827 3414
lucie.huang@ambest.com
Al Slavin
Senior Public Relations Specialist
+1 908 439 2318
al.slavin@ambest.com
Source : AM Best
Victoria World Academy On Next Level In Academic Excellence
KUALA LUMPUR, March 19 (Bernama) -- Victoria World Academy, an educational institution with the Edutrust Provisional certification by Singapore’s CPE, announced its outstanding academic achievements and commitment to nurturing the future ambitions of its students for the academic year 2023-2024.
According to Victoria World Academy in a statement, the school goes above and beyond to give students extensive opportunities for growth and unwavering support to pursue their goals.
Many of its graduates have received offers from prestigious universities worldwide, demonstrating the effectiveness of its commitment, with an impressive 95 per cent of students having received offers from the top 100 universities in the QS World University Rankings, as of March this year.
Each student received an average of four to six offers from major institutions worldwide, which is not only an impressive personal achievement for the students but also a further testament to Victoria World Academy's excellence in providing exceptional quality education.
The holistic education approach at Victoria World Academy focuses on developing well-rounded individuals ready to tackle global challenges. In addition to rigorous academics programmes, the school prioritises on character-building, leadership skills, and community involvement.
Students participate in service learning projects, outdoor educational activities, and international exchanges to broaden their perspectives beyond traditional classroom settings, whereby the nurturing and inclusive environment allows every student to thrive while being supported every step of the way.
Victoria World Academy can accommodate 300 students with small class sizes, which allows for a conducive learning environment, with a team of over 30 passionate local Singapore educators.
The academic programming at the school is designed to build a solid foundation for student's future academic endeavours, helping them to achieve success in their chosen fields.
-- BERNAMA
Saturday, March 16, 2024
Indonesia’s Asuransi Astra Receives Ratings Action From AM Best
KUALA LUMPUR, March 15 (Bernama) -- Global credit rating agency, AM Best has affirmed Indonesia’s PT Asuransi Astra Buana (Asuransi Astra) financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) with a stable outlook on these credit ratings (ratings).
Concurrently, AM Best has assigned the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) to Asuransi Astra with a stable outlook.
The ratings reflect Asuransi Astra’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.
The credit rating agency in a statement said the ratings also factor in a neutral impact from Asuransi Astra’s ultimate parent, Jardine Matheson Holdings Limited (Bermuda).
Asuransi Astra’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at Dec 31, 2022, as measured by Best’s Capital Adequacy Ratio, and is expected to be maintained at this level prospectively.
The company’s capital adequacy is supported by its internal capital generation and low net underwriting leverage.
AM Best views Asuransi Astra’s investment portfolio to have moderate risk, comprising mainly bonds held directly and through mutual funds with more than half of those being domestically rated bond funds.
The company’s operating performance was also viewed as strong, demonstrated by its five-year average combined ratio of 88.1 per cent and return-on-equity ratio of 17.6 per cent (2019-2023), driven by profitable business from its parent group, PT Astra International Tbk (Astra group).
With its business profile assessed as neutral, Asuransi Astra is a large insurance organisation in Indonesia, ranking third in the country’s general insurance market based on 2022 market share.
-- BERNAMA
Monday, March 11, 2024
GUANGDONG PROVINCIAL DELEGATION OPENS COMMUNAL DISCUSSION TO MEDIA
KUALA LUMPUR, March 12 (Bernama) -- A total of 225 journalists from 102 domestic and international media outlets attended the Guangdong Provincial Delegation's Second Meeting of the 14th National People's Congress on March 7 at the Capital Hotel.
According to a statement, delegates including Huang Kunming, Wang Weizhong, Zhang Hu, Qin Weizhong and Zeng Jinze, shared updates on Guangdong's strategies for sustainable development and modernisation.
During the session, Huang addressed inquiries about the "Thousand Villages Demonstration and Ten Thousand Villages Renovation" project, aimed at diminishing urban-rural disparities within the province.
He noted the challenges in balancing development due to geographical and economic diversities but highlighted the project's early successes in enhancing rural education, industry, and technology, particularly in the Pearl River Delta and other regions.
On the other hand, Wang discussed the transformation of Guangdong's manufacturing sector, which contributes significantly to the province's gross domestic product (GDP) and forms an essential part of the national economy.
The province is committed to integrating into the global industrial and value chains, with plans to modernise traditional industries, foster emerging sectors, and encourage a balanced growth among enterprises of various sizes.
The session, which featured numerous questions from the media, underlines Guangdong's ongoing efforts in economic development and rural modernisation.
-- BERNAMA
Saturday, March 9, 2024
CAH MEDICAL CENTRES (CMC) ELEVATE PATIENT CARE WITH NETSFERE'S SECURE AND COMPLIANT MESSAGING PLATFORM
Leading Southeast Asia hospital systems choose the HIPAA-compliant encrypted messaging platform to ensure safe communication amongst doctors, caregivers and staff
CHICAGO, March 6 (Bernama-GLOBE NEWSWIRE) -- NetSfere, a globally recognized provider of cutting-edge, secure and compliant messaging solutions, is pleased to announce that the seven hospitals affiliated with CAH Medical Centres (CMC), previously known as Ramsay Sime Darby Health Care and now under the ownership of Columbia Asia Healthcare Group, have adopted NetSfere's secure enterprise messaging platform to enhance internal communication and operational excellence while also elevating the patient experience. The hospitals that have rolled out NetSfere are Subang Jaya Medical Centre (SJMC), Ara Damansara Medical Centre (ADMC), ParkCity Medical Centre (PMC), Bukit Tinggi Medical Centre (BTMC), RS Premier Jatinegara (RSPJ), RS Premier Bintaro (RSPB), and RS Premier Surabaya (RSPS). All seven hospitals are steadfast in their commitment to delivering top-tier preventive and curative healthcare services, with a focus on achieving exceptional patient outcomes.As most of the hospitals under CMC are Joint Commission International (JCI) accredited, they must set governing policies for messaging to protect and control their privileged information. As cybersecurity threats confronting healthcare systems escalate, CMC proactively sought a secure and seamless messaging platform to facilitate private and sensitive organizational communication among the staff. NetSfere’s highly secure and compliant messaging platform ensures the utmost security of hospital and patient data. This unwavering commitment to compliance and security underscores NetSfere’s and CMC’s dedication to safeguarding sensitive healthcare information and delivering the highest standard of patient care.
Friday, March 8, 2024
TDCX'S FULL YEAR 2023 REVENUE DOWN 0.9%, OR UP 3.0% IN CONSTANT CURRENCY TERMS1
SINGAPORE, March 7 (Bernama-BUSINESS WIRE) -- TDCX Inc. (NYSE: TDCX) (“TDCX” or the “Company”), an award-winning digital customer experience (CX) solutions provider for technology and blue-chip companies, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.
Full Year 2023 Financial Highlights²· Total revenue of US$499.3 million, down 0.9% year-on-year, or up 3.0% in constant currency terms1, which included a 3.9% point negative impact of foreign exchange rates compared with the prior year
· Profit for the year was US$91.1 million, up 14.5% year-on-year, primarily driven by cost optimization efforts, lower tax, higher interest income and a net reversal of equity settled share-based payment expense
Fourth Quarter 2023 Financial Highlights²
· Total revenue of US$120.4 million, down 10.1% year-on-year, or down 5.3% in constant currency terms1, which included a 4.8% point negative impact of foreign exchange rates compared with the prior year period
· Profit for the period was US$24.2 million, up 27.8% year-on-year, primarily driven by cost optimization efforts, lower tax, higher interest income and a net reversal of equity settled share-based payment expense
Mr. Laurent Junique, Chief Executive Officer and Founder of TDCX, said, “Market uncertainties and a challenging macroeconomic environment continue to dampen business sentiment. This has had a knock-on impact on TDCX. Despite these pressures, we delivered within our guidance, and remain focused on the long term, particularly on improving our operations and delivering client value propositions.”
Wednesday, March 6, 2024
XSOLLA INTRODUCES A NEW PAYMENT OPTION FOR DEVELOPERS SEEKING TO EXPAND INTO THE JAPANESE MARKET
(Graphic: Xsolla)
Xsolla Enables Developers Worldwide to Accept Payments via PayPay
LOS ANGELES & TOKYO, March 7 (Bernama-BUSINESS WIRE) -- Xsolla, a global video game commerce company, announces the launch of Pay with PayPay for its global partners and video game players in Japan. Xsolla continually seeks to innovate gaming payment solutions to help mobile, PC, cloud, and web-based video game developers grow their audience and meet the needs of players around the globe. By offering this additional payment method at checkout, game developers worldwide can expand their reach into the Japanese market and meet the evolving needs of their players. This partnership also directly supports Xsolla’s commitment to the region and the new local office expansion in Tokyo, Japan, this past August.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240306339887/en/
"We're excited to connect PayPay to Xsolla and allow our global partners to reach a new audience and offer another payment option to their players," said Chris Hewish, CEO of Xsolla. "This partnership will give our partners increased coverage for their players in Japan and allow them to tap into the power of innovative payment tech, like QR codes."
Xsolla Payments simplifies the checkout journey with an intuitive, multi-platform UI, compatibility with popular mobile wallets, and access to 700+ payment methods and 130+ currencies in over 200+ regions. Its PayRank technology automatically surfaces and ranks the payment methods most relevant for each customer, like PayPay.
For more information about Pay with PayPay, please visit: xsolla.pro/paypay
About Xsolla
Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Seoul, Beijing, Kuala Lumpur, Raleigh, Tokyo, and cities around the world, Xsolla supports major gaming titles like Valve, Twitch, Roblox, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.
For additional information and to learn more, please visit: xsolla.com
1 PayPay
2 Bloomberg Article - Struggling Rakuten Might Need to Phone a Friend
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Contact
Derrick Stembridge
Global Director of Public Relations, Xsolla
d.stembridge@xsolla.com
Source : Xsolla
Tuesday, March 5, 2024
HYTERA LATEST INNOVATION REVOLUTIONISES FORM FACTOR OF TWO-WAY RADIOS
KUALA LUMPUR, March 6 (Bernama) -- Hytera Communications, a global provider of professional communications technologies and solutions, has introduced its latest innovation, the S Series business two-way radios.
Hytera in a statement said this groundbreaking product line revolutionises the form factor of two-way radios, catering to small and midsize businesses (SMBs) with unparalleled versatility and style.
The newly launched S Series comprises the S1 mini, S1, and S1 Pro models, each boasting exceptional ergonomics, intuitive operation, and crystal-clear audio.
Backed by the company’s extensive user research, market insights, and engineering expertise, these models redefine the conventional design of radios and bring versatile functionalities for users from hospitality, retail and beyond.
The compact yet powerful S1 mini two-way radio with a size akin to a lipstick and sleek design, which ensures minimal intrusion and burden during the work shift, is tailored for businesses such as boutique stores, and restaurants. With flexible wearing options, users can clip it onto uniforms or wear it with a lanyard for added convenience.
Meanwhile, designed to meet the unique demands of the retail sector, the S1 elevates communication efficiency with its dual push-to-talk (PTT) buttons, which help retail staff talk with either of the two standby groups with manual selection.
Furthermore, the S1 Pro crafted for hotels and resorts, epitomises elegance and professionalism, is equipped with top-notch artificial intelligence-noise cancellation technology that ensures superior audio clarity in challenging scenarios.
With voice, video and data capabilities, Hytera provides faster, safer, as well as more versatile connectivity for business and mission critical users.
-- BERNAMA
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Friday, March 1, 2024
AM BEST AFFIRMS PACIFIC INTERNATIONAL INSURANCE CREDIT RATINGS AS GOOD
KUALA LUMPUR, March 1 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb” (Good) of Australia’s Pacific International Insurance Pty Limited (Pacific).
The outlook of these credit ratings (ratings) is stable, reflecting Pacific’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
According to AM Best in a statement, these ratings also factor in a neutral impact from Pacific’s ultimate owner, Badger Mutual Wealth (Pty) Ltd (the Badger group), an insurance group domiciled in South Africa.
The company’s balance sheet strength assessment is underpinned by risk-adjusted capitalisation, which was at the strong level in fiscal-year ending June 30, last year, as measured by Best’s Capital Adequacy Ratio.
Prospective risk-adjusted capitalisation is expected to remain at least at the strong level over the medium term. However, Pacific’s capital adequacy remains sensitive to the successful execution of its business plan, which includes its performance targets and projected capital generation.
The credit rating agency views Pacific’s operating performance as adequate, with its operating performance exhibited a notable positive trend over the last five years, recording a five-year average return-on-equity ratio of negative 0.2 per cent (fiscal-years 2019-2023).
Following the Badger group’s acquisition in fiscal-year 2018, Pacific recorded elevated expenses due to significant investments in marketing and infrastructure. Nevertheless, as a result of increased operational scale and cost saving initiative in recent years, the company reported positive earnings in both fiscal-years 2022 and 2023.
Pacific’s net retained insurance portfolio predominantly consists of motor and a motor novated lease partnership with an insurance distributor, hence AM Best expects the company’s net underwriting growth to be elevated over the medium term, driven by pet cover and travel lines of business.
-- BERNAMA
Monday, February 26, 2024
CANADA-IN-ASIA CONFERENCE 2024 KICKS OFF IN SINGAPORE
KUALA LUMPUR, Feb 26 (Bernama) -- The Asia Pacific Foundation of Canada (APF Canada) and Universities Canada invited members of the media to attend the second annual Canada-in-Asia Conference (CIAC2024) at the Pan Pacific Singapore from Feb 26 to 29.
According to a statement, with over 430 registrants, the CIAC2024 will focus on two thematic areas, namely Agri-food (Feb 26 to 27) and Climate Solutions (Feb 27 to 29).
The conference will convene business and government leaders, investors and innovators, and researchers and experts from across Asia and Canada to exchange perspectives, knowledge, and ideas and to create collaborative partnerships in these two critical sectors.
APF Canada and Universities Canada confirmed that Republic of Singapore Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Grace Fu, will be joining CIAC2024 as the guest of honour and keynote speaker at the Feb 27 Gala Dinner.
-- BERNAMA
Thursday, February 22, 2024
Paratus Sciences Hires Theresa Heah As CEO
KUALA LUMPUR, Feb 22 (Bernama) -- Paratus Sciences Corporation, a biotechnology company accelerating the discovery of novel therapeutics by leveraging the extraordinary adaptive biology of bats, has appointed Dr Theresa Heah as Chief Executive Officer (CEO) and a member of its Board of Directors.
According to a statement, Dr Heah brings over two decades of drug development and commercial experience in therapeutics and platform technologies to Paratus.
“Theresa brings a tremendous wealth of experience as a seasoned pharma and biotech executive, having spearheaded the development and commercialisation of multiple innovative therapies.
“She is well poised to guide Paratus as it continues to build its proprietary platform, advance its novel discovery portfolio, and grow its team and capabilities,” said the company’s founding CEO, chair of its Board of Directors and Polaris Partners Executive Partner, Amir Nashat.
Meanwhile, Dr Heah said Paratus’s unique scientific premise, coupled with its proprietary bioinformatics and genomics-rich platform, has the potential to accelerate its ability to identify novel targets and discover innovative medicines.
“I look forward to working with our team to progress our drug discovery efforts, with an initial focus on immunology and inflammation, and metabolism,” she said.
Dr Heah most recently served as the CEO and President of Intergalactic Therapeutics, a non-viral gene therapy platform company. Prior to Intergalactic, she was Chief Medical Officer at several companies, namely Kriya Therapeutics where she also served as President; and AsclepiX Therapeutics also as Executive Vice President of Operations.
Earlier in her career, she held leadership positions in a number of private and public companies, including Aerie Pharmaceuticals, Allergan, Bayer Healthcare, Fovea Pharmaceuticals and Sanofi.
Dr Heah trained as a physician at the University of London, United Kingdom, specialising in ophthalmology, and later earned her Executive Master of Business Administration (MBA) from the European School of Management & Technology (ESMT) in Berlin.
-- BERNAMA
START-UPS CHALLENGED TO HELP DEVELOP CARBON CAPTURE TECHNOLOGY FOR GLOBAL INDUSTRY'S PUSH TO NET ZERO
LONDON, Feb 21 (Bernama-BUSINESS WIRE) -- A pioneering international programme, which brings together tech start-ups and leading manufacturers in the pursuit of net zero, has launched.
Innovandi Open Challenge 2024 is run by the Global Cement and Concrete Association (GCCA), the industry’s leading international body which is focused on helping the global cement industry reduce its emissions and ultimately achieve net zero concrete.Applications are being encouraged from start-ups from around the world, interested in working on the development of carbon capture use and storage, for low carbon cement and concrete. Innovative technologies are sought, which include process integrated and end-of-pipe CO2 capture and use, and help prevent the carbon being emitted into the atmosphere.
This will be the 3rd Innovandi Open Challenge and builds on the success of previous years. The first challenge, in 2022, also focused on the development of carbon capture technology, and two start-ups have already gone to pilot stage. The 15 start-ups shortlisted in last year’s 2nd Innovandi Challenge, to work on the development of low carbon concrete, are currently in discussion with manufacturers about forming partnerships.
Claude Loréa, the GCCA’s Cement, Innovation and ESG Director, said: “Our industry is committed to achieving net zero and the development of carbon capture technology is a key part of that work. Our world leading Innovandi Open Challenge programme has already seen remarkable progress being made in just two years, with start-ups and our member companies working together. We’re looking forward to seeing what this year’s applicants can bring, to build on the extensive work that is already underway across the world.”
All GCCA members who account for 80% of global cement production capacity outside of China, and a number of leading Chinese manufacturers, have committed to reaching net zero, by 2050, through the GCCA’s Concrete Future 2050 Net Zero Roadmap – the first global industry to set out such a detailed plan. The GCCA has also recently signed a ground-breaking agreement to work together on decarbonisation with the China Cement Association (CCA).