MEDIDATA, CLINCHOICE EXTEND PARTNERSHIP TO ENHANCE CLINICAL TRIAL EFFICIENCY, INNOVATION

KUALA LUMPUR, Dec 20 (Bernama) -- Medidata, a Dassault Systèmes brand and provider of clinical trial solutions to the life sciences industry, has renewed its long-standing enterprise partnership with ClinChoice, a global contract research organisation (CRO).

Under this new agreement, ClinChoice will utilise the Medidata Platform to streamline study data and supply management, boost trial efficiency, and accelerate growth as a full-service CRO in Asia, Europe, and North America.

ClinChoice also plans to prioritise Clinical Data Studio accreditation, further enhancing its capabilities through a transformative artificial intelligence (AI)-powered data quality management experience.

Medidata senior vice president and general manager, APAC, Edwin Ng in a statement said ClinChoice’s dedication to innovation and patient-centred approaches makes them an invaluable partner.

“With this renewed partnership, we look forward to empowering ClinChoice with Medidata’s advanced solutions to further streamline their trial operations, expand their global reach, and accelerate access to life-changing therapies for patients worldwide,” he said.

Meanwhile, ClinChoice global chairman and chief executive officer, Ling Zhen noted that since the company’s first implementation of Medidata Rave EDC in 2011, its partnership with Medidata has supported its development, starting in the United States, then China, and eventually to the wider global stage.

“We are delighted to extend our work together to include Medidata’s Clinical Data Studio and other advanced technologies to further boost our expansion,” Ling added.

ClinChoice’s commitment in utilising Medidata’s solution has spanned over a decade, facilitating secure connections among patients, sites, and sponsors within a unified cloud environment.

By integrating Medidata’s solutions, ClinChoice continues to strengthen its operational efficiency and position itself for growth in today’s increasingly complex clinical trial landscape.

-- BERNAMA

AM Best Upgrades Malaysia’s Tune Protect Re Issuer Credit Rating

KUALA LUMPUR, Dec 13 (Bernama) -- Global credit rating agency, AM Best has upgraded Malaysia’s Tune Protect Re Ltd (TPR) long-term issuer credit rating (long-term ICR) to “bbb+” (good) from “bbb” (good) and affirmed the financial strength rating (FSR) of B++ (good).

In addition, AM Best, in a statement, said it has revised the long-term ICR outlook to stable from positive, while the outlook of the FSR is stable.

The credit ratings (ratings) reflect TPR’s balance sheet strength, which the credit rating agency assesses as strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

The upgrade of the Long-Term ICR reflects an improvement in the company’s operating performance in recent periods. Despite exhibiting volatile premium growth and operating earnings during the COVID-19 pandemic, the growth of the travel insurance operation has since normalised, resulting in more stable underwriting performance.

In 2023, TPR reported a robust combined ratio (net-net) of 84.6 per cent and a return-on-equity ratio of 16.4 per cent (as calculated by AM Best). In the first three quarters of 2024, TPR’s operating performance remains favourable, supported by strong technical profitability and investment performance.

TPR’s balance sheet strength is supported by its risk-adjusted capitalisation, which is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio.

The company maintains a conservative investment portfolio, predominantly in unit trust funds with high-quality fixed-income securities. However, its modest-sized absolute capital base of US$33 million at the end of 2023, compared with its peer reinsurers, exposes the company to potential volatility in stressed scenarios. (US$1=RM4.43)

AM Best’s balance sheet strength analysis also incorporates a neutral holding company impact from Tune Protect Group Berhad (TPG), TPR’s ultimate parent.

Although TPR’s business profile is considered limited given its position as a niche reinsurer with a focus on travel-related insurance products, it benefits from leveraging TPG’s in-house technology platform to support and distribute policies in collaboration with corporate partners, including airlines and travel agencies. Over the medium term, TPR is expected to exhibit moderate underwriting growth.

-- BERNAMA

Kura Sushi to Feature Iconic Dishes from 70 Countries, Regions at Osaka-Kansai Expo

 

_{Antibacterial Sushi Covers with Expo-specific Designs (Photo: Business Wire)} 

KUALA LUMPUR, Dec 12 (Bernama) -- Kura Sushi Inc, one of the world’s most popular conveyor-belt sushi chains, announced it will offer 70 new menu items at its restaurant that will open at the upcoming “Osaka-Kansai Expo”, set to open on April 13, 2025, in Yumeshima, Osaka.

The menu will feature dishes representing 70 countries and regions participating in the expo. This marks the largest-scale restaurant opening in the company’s history, with 338 seats and a 135-metre-long revolving belt, according to a statement.

The company is the only major revolving sushi chain in Japan to serve sushi on conveyor belts at all of its restaurants. Under the concept of “Revolving Belts Unite the World”, Kura Sushi aims to create an enjoyable, global dining experience for visitors.

Kura Sushi Executive Vice President, Makoto Tanaka expressed hope that despite the complex social issues facing the world today, their conveyor-belt sushi restaurants, symbolised by a continuous belt, will bring people together at the Expo for an enjoyable dining experience.

He emphasised that the menu, crafted by their Product Development Division, reflects the authentic flavours of the world and is designed to be enjoyed by both Japanese and international visitors, uniting them with smiles and a shared love for global cuisine.

The special menu, developed by Kura's product team, focuses on authentically replicating the flavours of each featured country. The company collaborated with various embassies to ensure the authenticity of 24 dishes. The menu will be served alongside Kura’s popular sushi offerings, creating a unique culinary experience reminiscent of exploring global food cultures.

In addition, the antibacterial sushi covers “Mr. Freshness”, which is being used for this special menu, has been specially designed with the connecting part appearing as red and blue hands shaking, the signature colours of the expo.

To help build momentum for the Expo, special Expo menus will be offered ahead of time at about 550 restaurants nationwide, starting Feb 7, 2025. Each store will feature one dish from the expo menu, allowing customers to enjoy different global flavours by visiting multiple Kura Sushi locations.

Kaitenzushi (Revolving Sushi Restaurant) is said to have spread throughout Japan after attracting attention at the Osaka Expo in 1970. Since then, Kaitenzushi has steadily expanded its market size while evolving in various ways over its 50-year history and is now a leading business category in the evolution of the Japanese food service industry, with sales exceeding 800 billion Japanese yen. (100 Japanese yen = RM2.90)

Going forward, the company will continue to leverage its strength, the revolving belt, to provide customers in Japan and overseas with the memorable enjoyment that only Kura Sushi can offer, thereby expanding the revolving sushi business model, a wonderful business model that originated in Japan, to the entire world.

As of the end of November, Kura Sushi operates 547 restaurants in Japan, 70 in the United States, 59 in Taiwan, and three in Shanghai.

-- BERNAMA

MASTERCARD AND XSOLLA LEVEL UP THE GAMING EXPERIENCE WITH PAY WITH POINTS IN POLAND

 

Powered By Mastercard’s Redemptions Solutions, Xsolla Pay With Points Will Be Available For Alior Bank Mastercard Cardholders 

LOS ANGELES & PURCHASE, N.Y. & WARSAW, Poland, Dec 12 (Bernama-BUSINESS WIRE) -- Xsolla, a global video game commerce company, and Mastercard are bringing their partnership to Poland for the first time through Alior Bank. Mastercard cardholders with Alior Bank can now use Xsolla Pay with Points to redeem their loyalty points for in-game purchases directly in Xsolla’s Pay Station. Enabled by Mastercard’s digital redemptions capabilities, this integration will allow gamers to pay with loyalty points in a simple and secure way.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241211317259/en/ 

The gaming industry is growing rapidly, with the global number of gamers reaching new heights year after year. However, in-game payments remain an area with room for improvement. Over 40% of consumers report needing assistance with purchasing in-game currency, and over 30% feel that making purchases in online games involves too many steps.¹

Xsolla Pay with Points helps solve that problem with a seamless solution that’s fully integrated into the customized Xsolla Pay Station checkout. Using credit card loyalty points earned from everyday spending, Mastercard cardholders with Alior Bank can buy their favorite games, in-game items, and virtual currencies without leaving the gaming platform. Now, when a gamer in Poland wants to make a purchase online for their game using their Mastercard as the form of payment, the points can be redeemed through a simple and user-friendly check-out with fewer clicks and greater confidence.

Hear from the teams

“This collaboration with Alior Bank and Mastercard represents a significant innovation in connecting financial services with gaming. By allowing players to use loyalty points for in-game purchases, we’re creating a seamless and rewarding experience that adds value to everyday transactions and the gaming industry,” said Anton Zelenin, Chief Product Officer, Fintech, Xsolla.

“Working with Mastercard and Alior Bank on the Pay with Points Solution allows us to offer players a simple, safe, and secure way to use loyalty points directly in their favorite games. Consumers can now use those earned points from everyday transactions to mark in-game purchases for digital items and virtual goods to level up their gaming experience,” said Berkley Egenes, Chief Marketing & Growth Officer at Xsolla. “Our goal is to provide equal access and opportunity to everyone, and this integration in Poland demonstrates what is possible for players and developers worldwide.”

Commenting on the launch Scott Abrahams, executive vice president, Global Partnerships, at Mastercard said, “Mastercard embeds technologies and solutions into everyday activities to enhance consumer experiences, and our loyalty redemptions capabilities are just one great example. Our work with Xsolla and Alior Bank demonstrates the industry collaboration that we are driving across the gaming ecosystem globally to enable secure and simple payments and deliver added value that supports people's passions.”

“This solution is another step in building valuable experiences that combine pleasure with everyday benefits. Games play an essential role in the lives of many of our customers, which is why we are happy to support their passion by offering a new way of using loyalty points. Thanks to it, they can develop games during everyday activities, such as shopping,” says Mateusz Tomczak, Product Development Manager at Alior Bank.

To learn about Pay with Points with Xsolla, visit xsolla.pro/pwp1. You can find more details about Mastercard’s digital redemptions solutions here. 

http://mrem.bernama.com/viewsm.php?idm=49993

FORTUDE CONTINUES TO STRENGTHEN ITS FOOTPRINT IN ASIA-PACIFIC THROUGH DIGITAL SOLUTION OFFERING

Singapore, Dec 9 (Bernama-GLOBE NEWSWIRE) -- Fortude, a leading global enterprise and digital solutions company, strengthens its commitment to serve businesses in Asia-Pacific by driving digital transformation across the region. After setting up its Singapore entity in April earlier this year, the company has been actively working with new prospects and partners to further its goal of ‘delivering digital solutions that matter’.

The company will continue to offer the full spectrum of services, from digital advisory, Infor CloudSuite consulting and managed services, to Data & AI, automation, and solutions engineering under this umbrella.

Having successfully worked with several leading businesses in Asia-Pacific over the last decade, both existing and new customers will be able to leverage Fortude’s strategic partnerships with Infor, Microsoft, UiPath and many more to accelerate their digital transformation initiatives.

The growth strategy for the region will be led by Fortude’s Chief Revenue Officer – APAC, Cameron Greening. Commenting on the initiative, Cameron said, “We are very excited to be strategically placed in Singapore to serve the wider Asian region. Its proximity to some of our key customers makes it the perfect launchpad for Fortude to continue to build inroads into key markets in the region.”

Hemantha Rodrigo, Chief Operating Officer – AMEA, who is focused on amplifying Fortude’s local presence and partnerships in the region added, “We are working on several exciting projects in the region, including Malaysia, Indonesia, Vietnam and Thailand. By moving forward on this journey in Singapore, our customers can now better harness our region-specific expertise, and holistic suite of solutions to drive the digital transformation of their businesses.”

Leading the digital transformation drive for Southeast Asian companies, Fortude’s Aravinda Gunathilaka, Associate Vice President – Enterprise Sales AMEA added, “A company’s digital journey can begin with a simple RPA automation and span into AI, Data Analytics and move onto implementing strong foundations for growth with Cloud implementations. Fortude has expertise in all these areas and can support companies with the right digital tools.”

In recent years, Fortude has seen significant growth in the APAC region and the team is committed to continue helping businesses in the region make the digital leap.
  
About Fortude

Fortude is a leading global enterprise and digital technology solutions company, delivering solutions that matter to customers around the world. Our teams are based out of offices in the US, Canada, UK, Netherlands, Sweden, Sri Lanka, Singapore and Australia, and have experience in implementing projects across multiple locations and continents. We are also a partner to some of the world’s largest technology, cloud, and automation software solution providers including Infor, Microsoft and UiPath. For more information, visit fortude.co

Attachment

·        Fortude continues to strengthen its footprint in Asia-Pacific through digital solution offering
 
Anishka Ranabahu
Fortude
+94775195993
AnishkaRa@fortude.co

SOURCE: Fortude

--BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF SINGAPORE REINSURANCE CORPORATION LIMITED

SINGAPORE, Dec 9 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Singapore Reinsurance Corporation Limited (Singapore Re) (Singapore). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Singapore Re’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. In addition, the ratings factor in rating enhancement from the company’s ultimate parent, Fairfax Financial Holdings Limited (Fairfax) [TSX: FFH].

Singapore Re’s balance sheet strength is underpinned by risk-adjusted capitalisation that is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s investment portfolio is focused on cash, deposits and fixed-income securities, albeit with some exposure to higher-risk asset classes such as equities. Singapore Re strategically utilises retrocession to increase its underwriting capacity and manage exposure to catastrophe accumulations and large single risks. The credit quality of the retrocession panel remains excellent, with the majority of reinsurance recoverables held with highly rated counterparties. Additionally, Singapore Re benefits from good financial flexibility due to the support provided by Fairfax.

Singapore Re’s operating performance is assessed as adequate, supported by robust underwriting results and positive investment returns. Historically, Singapore Re’s underwriting performance has shown volatility due to competitive market conditions and elevated natural catastrophe activity; however, this has improved in recent years, driven by favourable claims experience and increased business growth. In 2023, the company recorded an operating profit of SGD 7.3 million, down from SGD 48 million recorded one year prior. This decline was primarily due to a change in the premium recognition basis under IFRS 17, resulting in a one-off reserve adjustment, which was partially offset by higher net investment income. The company’s year-to-date 2024 operating results have normalised and returned to targeted profitability. Singapore Re’s investment income, which comprises mainly interest and dividend income, continues to provide a sizable contribution to overall earnings. Prospectively, AM Best expects Singapore Re’s operating performance to remain at the adequate level, supported by robust business growth while maintaining prudent underwriting discipline.

AM Best assesses Singapore Re’s business profile as limited. Singapore Re is a modest-sized non-life reinsurer based in Singapore, writing treaty and facultative business mainly in Asia and the Middle East. Geographic diversification is provided by operations spanning Asia and the Middle East, with Singapore and India being the company’s two largest markets, based on 2023 gross premium written. A partially offsetting factor is the company’s elevated cedant concentration risk; however, this risk is partly mitigated by the fact that some of its largest cedants are companies within the Fairfax group or affiliates and others that have long-standing relationships.

The rating enhancement from Fairfax factors in explicit and implicit support from the group, including access to shared resources and services across various business functions. Despite Singapore Re’s operations accounting for a small component of Fairfax’s consolidated revenue and earnings, the company is considered strategically important to the group’s international expansion strategy and provides access to local and regional business.

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.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20241206970524/en/

Contact

Sin Yee Chuah, CFA
Senior Financial Analyst
+65 6303 5022
sinyee.chuah@ambest.com

Victoria Ohorodnyk
Director, Analytics
+65 6303 5020
victoria.ohorodnyk@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com


Source : AM Best

SMARTDV LICENCES CUSTOMISED SDIO IP TO RANIX FOR V2X PRODUCTS

KUALA LUMPUR, Dec 3 (Bernama) -- SmartDV Technologies, provider of flexible, highly configurable, customisable semiconductor design intellectual property (IP) and verification IP (VIP), announced the licensing of its SDIO IP family to RANiX for integration into their Vehicle-to-Everything (V2X) products.

In a statement, the company said this collaboration supported the development of advanced automotive communication solutions that enable safer, smarter, and more connected vehicle ecosystems.

“Our solutions exemplify SmartDV’s commitment to advancing connectivity in automotive technologies, and the customisations we are undertaking for RANiX shine a light on a key advantage customers can leverage in selecting SmartDV as their trusted IP vendor,” said SmartDV Technologies Global Sales Director, Mohith Haridoss.

Meanwhile, RANiX Managing Director, Shawn Lee said this collaboration enhanced its mission to make transportation safer, smarter, and more connected, setting new benchmarks in automotive innovation.

SDIO IP from SmartDV offers robust, high-performance data transfer capabilities critical to the seamless functionality of V2X systems.

Its interfaces allow for efficient communication between processors and memory devices, going beyond storage to integrate and control memory operations while connecting external peripherals, supporting high performance and reliability in complex systems.

These IP cores facilitate reliable communication between automotive components, enhancing connected vehicle technologies such as vehicle safety communications, real-time traffic updates, and driver assistance features.

To meet RANiX’s unique design goals, SmartDV will customise the IP to go beyond the standard SDIO functionality, thereby empowering RANiX to differentiate from their competitors.

The company will also provide RANiX with the requisite support and documentation to achieve Automotive Safety Integrity Level (ASIL) certification for ISO 26262.

SmartDV continues to be a key partner in delivering cutting-edge IP solutions tailored to the evolving needs of the automotive industry around the globe.

-- BERNAMA