PACIFIC PRIME CXA WINS HR ONLINE'S PRESTIGIOUS VOTY 2024 HR MANAGEMENT SYSTEM (SMB) AWARD

 

^{Pacific Prime CXA Wins HR Online’s Prestigious VOTY 2024 HR Management System (SMB) Award. (Photo: Business Wire)}


SINGAPORE, Dec 23 (Bernama-BUSINESS WIRE) -- Presented by Human Resources Online, global employee benefits specialist Pacific Prime CXA’s Flex Portal was honored with the Bronze Award for Best HR Management System (SMB) at the HR Vendors of the Year Awards in Singapore.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241219490281/en/

A resounding echo of last year, where the company won the Bronze Award for Best HR Management System (Enterprise), Pacific Prime CXA has gone to outstanding lengths to remain a top insurance broker in terms of HR management systems and international health insurance, retaining their unique position as the only broker to win awards in this category.
 

The HR Vendors of the Year, which took place on November 8th, 2024, stands as a distinguished annual ranking with a longstanding history dedicated to recognizing and celebrating the premier HR solutions providers in Asia. This year’s edition of the awards was held at the Sofitel Singapore City Centre, where Singapore’s most forward-thinking solution providers converged.

Voted as a top 3 HR management system, Pacific Prime CXA's Flex Portal is a state-of-the-art benefits management system designed specifically to address the needs of small to medium-sized businesses (SMBs). In an era of evolving workforce demands and an increasingly competitive talent market, this platform empowers HR teams and employees by streamlining employee benefits administration and boosting staff engagement. With features such as real-time eWallet updates, seamless integration with third-party providers, and a highly customizable interface, the Flex Portal simplifies complex insurance mechanisms, ensuring efficiency and cost-effectiveness.

For HR teams, the portal automates administrative processes, reduces manual workloads, and provides a centralized platform for managing flex and insurance claims. Employees, on the other hand, benefit from a user-friendly interface that offers a personalized experience, from adjusting life and medical insurance coverage to accessing wellness resources and tailored health assessments. Additional features like OCR receipt scanning, a clinic locator, and in-app purchases further enhance its convenience.

By addressing the unique challenges of SMBs, the Flex Portal maximizes return on investment through flexibility and strategic cost management. With a commitment to continuous improvement and user-centric design, Pacific Prime CXA positions the Flex Portal as a vital tool for businesses seeking to thrive in a dynamic global environment.

Heena Bose, CEO at Pacific Prime CXA, shared:

"This recognition is a testament to the hard work and innovation of our talented team. The Flex Portal was designed with a strong commitment to helping small and medium-sized businesses attract and retain top talent. We remain focused on ongoing innovation, and with continued collaboration, we are confident that the Flex Portal will continue to shape the future of HR management and employee benefits, enabling businesses and their employees to thrive in a rapidly changing world.”

To learn more about Pacific Prime CXA’s Flex Portal, please visit: https://www.pacificprime.com/corporate/pacificprime-cxa-portal

About Pacific Prime

Established in 2000, Pacific Prime is an award-winning global insurance brokerage and employee benefits specialist that offers international health insurance and corporate insurance solutions. With a USD $1 billion premium under management, Pacific Prime is now the third largest employee benefits broker in the Asia Pacific. The brokerage has over 1,000 employees and 15 offices worldwide, including Hong Kong, Singapore, China, Thailand, Malaysia, the UAE, Indonesia, the UK, the US, Mexico, the Philippines, and Australia.

To learn more about Pacific Prime, please visit: https://www.pacificprime.com/corporate

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Contact

Stephen Ho
Chief Marketing Officer
Pacific Prime
+852 3589 0508

Source : Pacific Prime

MRI-Simmons Joins Truthset Data Collective To Reaffirm Data Accuracy, Transparency

KUALA LUMPUR, Dec 18 (Bernama) -- MRI-Simmons, a provider of insights on the American consumer, has joined the Truthset Data Collective, a group of data providers uniting to ensure the highest degree of accuracy and quality for the marketing industry.

This move underscores the insights leader’s commitment to transparency and accuracy, two qualities the company has upheld for over 70 years, according to a statement.

MRI-Simmons majority owner, who is also NIQ Head of Global Media, Lana Busignani said that joining the Truthset Data Collective reaffirms the company’s commitment to providing high-quality data that supports more effective digital and addressable activation outcomes,” she said.

Meanwhile, Truthset Chief Executive Officer, Scott McKinley expressed excitement over MRI-Simmons’ involvement, highlighting their shared goal of advancing data accuracy standards in the marketing industry.

For MRI-Simmons, the Truthset relationship provides additional validation that its data sets are of the highest possible quality, which can be trusted by the industry at large.

With four MRI-Simmons products already accredited by the Media Ratings Council, including its core consumer study ‘United States of America (USA)’, the Data Collective membership adds another layer of transparency to an already arduous process that includes rigorous annual audits conducted by an independent Certified Public Accountant (CPA) firm.

Joining Truthset’s Data Collective comes on the heels of MRI-Simmons expanding its data enrichment solutions, which help marketers improve the quality and utility of first-party data. With marketers tasked with driving greater media efficiency and return on advertising investments, the accuracy and reliability of third-party data sets used for enrichment are now paramount.

Launched in December of 2022, the Truthset Data Collective was formed to provide the industry with a multi-sourced and objectively accurate service to standardise demographic accuracy for audience targeting and media measurement.

A leader in consumer insights for over 60 years, MRI-Simmons possesses one of the few single-source, privacy-compliant data sets that is widely used for consumer profiling, media planning, data enrichment, and activation.

-- BERNAMA

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.

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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

WELSPUN ONE LAUNCHES INDIA'S LARGEST LOGISTICS FACILITY; INVESTS $325M

• Spread across 55 acres, this is India’s first-of-its-kind integrated port-based logistics ecosystem
• The state-of-the-art asset will transform the Asia-Pacific supply chain
  
   

MUMBAI, India, Nov 28 (Bernama-BUSINESS WIRE) -- Welspun One, India’s fastest-growing new-age logistics and industrial real estate manager, is investing $325M in the country’s largest single-location ‘Grade A’ warehousing and industrial park at the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) in Navi Mumbai (India). Originally envisaged as a 1.2 million sq. ft. park which entailed an investment of ~$84M, the company has now upscaled the size of the project to ~4.45 million sq. ft. of BUA to cater to the growing export-import demand arising at the JNPA Port.

JNPA, handling ~35% of India’s maritime traffic, is the largest container port by throughput. This prime location presents an unprecedented opportunity for the SEZ/FTWZ segment to scale, particularly as the region has historically faced constraints in integrated facility solutions. Welspun One’s facility addresses this gap by offering businesses across sectors like chemicals, automotive, FMCG, pharmaceutical, and electronics with an integrated, cost efficient logistics solution in a high potential area.

Strategically located within 5 km of the port terminals with direct vessel access, the facility offers unparalleled advantages. It also enjoys proximity to critical transport networks such as National Highways, the Dedicated Freight Corridor (West), the Mumbai Trans Harbour Link (MTHL), and the upcoming Navi Mumbai Airport – giving it a significant logistical advantage. The mega project features 3.95 million sq. ft. of warehousing space, 0.25 million sq. ft. of Grade A office space, and 0.25 million sq. ft. of industrial space.

Designed for maximum operational efficiency, the park features G+2 floors, 12-meter floor-to-floor height, and incorporates 30-feet-wide unidirectional ramps for seamless cargo flow between levels. It has a 6-ton floor load capacity, accommodates over 400,000 pallet positions, and comes with parking for over 600 trucks. With an annual throughput capacity of 36,000 TEUs, the facility is officially the largest single-location warehousing and industrial park in India, redefining standards for integrated logistics ecosystem.

The project is not just a logistics hub but a strategic business enabler. It is expected to generate direct and indirect employment for over 5,000 people, strengthening the local economy. As a part of a notified SEZ, it also provides occupiers additional benefits such as exemption of Goods and Services Tax (GST), customs duty deferment, faster customs clearance, and minimal detention or demurrage risks. All of this enables seamless movement of goods and optimized inventory management, resulting in improved operational efficiency and significant cost savings of up to 15%. Further, it also improves the logistical efficiency of the port making the project an ideal hub for international businesses looking to optimize their supply chains.

Commenting on the development, Mr. Anshul Singhal, Managing Director, Welspun One, said, “India’s port ecosystem has long needed a logistics solution beyond storage. This facility is set to be a game-changer for logistics and supply-chain operations in India and elevate India’s position on global trade and ease of doing business. By identifying the strategic location and partnering with a global team of world-class designers and engineers from Japan, Singapore, and the Middle East, we are building an international facility that delivers on the dual imperatives of efficiency and cost-effectiveness. This investment represents not just a milestone for Welspun One but a bold step forward in transforming India’s logistics landscape.”

Commenting on the milestone, Mr. Balkrishan Goenka, Chairman, Welspun World, said, “Our recent $325M (including ~$84M co-investment commitments) equity fundraising for Fund 2 reaffirms the confidence of investors in our strategy to create demand-led, logistics-anchored developments. With nearly 70% of the fund already committed and 45% drawn down, we are executing at a scale and speed that sets us apart. This project at JNPA SEZ is a pivotal part of our vision to align with India’s growth story and redefine its logistics infrastructure.”

View source version on businesswire.com: 
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Contact

For further information:
Website: www.welspunone.com | Reach out to Abhishek_Dassani@welspun.com

Source : Welspun One

EMGA SECURES US$210M FROM EIB FOR BRAZIL'S BTG PACTUAL

LONDON, 26 Nov (Bernama-GLOBE NEWSWIRE) -- Emerging Markets Global Advisory Limited (EMGA) announces today they have secured US210M debt finance for their long-standing Brazil based client; BTG Pactual.

The US$210 million debt facility was provided by EIB and the follows on from previous facilities arranged by EMGA.

Sajeev Chakkalakal, Managing Director and Head of Investment Banking at EMGA, said: "Yet again we are delighted to have arranged this landmark transaction aimed at funding BTG’s Green Lending portfolio and the resultant strong net positive benefits for climate sustainability. EIB remains a key investor relationship for EMGA, and we are proud to have helped them increase their presence in Brazil as part of their broader EIB Global strategy.

Jeremy Dobson, Managing Director, and Head of Operations at EMGA, added: “It was a pleasure to work with BTG again on an additional financing with a new Development Financial Institution (DFI). We look forward to continuing our strong track record of arranging financing in Brazil and the rest of Latin America.”

BTG Pactual: BTG is the largest investment bank in Latin America, the 6th largest bank in Brazil by shareholders equity and a key player in providing loans and guarantees to a broad set of clients, from SMEs to large corporations. BTG is a pioneer in promoting climate finance in Brazil and plays a pivotal role in channeling resources towards projects with a positive impact in the community. 

EIB: EIB is The European Investment Bank (EIB) is the European Union's investment bank and is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt solutions and focuses on the areas of climate, environment, small and medium-sized enterprises (SMEs), development, cohesion and infrastructure. 

Emerging Markets Global Advisory LLP (EMGA), with offices in London and New York, helps financial institutions and corporates seeking new debt or equity capital. EMGA’s multi-national team combine the decades of experience necessary to complete transactions on behalf of their clients within the world’s emerging markets and frontier economies, including Brazil which remains a key market. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues to deliver geographic reach and service offering, solidifying its place in the market as one of the industries pre-eminent emerging markets focused niche investment banks.

Contact info@emergingmarketsglobaladvisory.com 


SOURCE : Emerging Markets Global Advisory

CGS ELEVATES JOHN SAMUEL TO CHIEF OPERATING OFFICER TO FURTHER ENHANCE CLIENT SERVICE AND DRIVE OPERATIONAL EXCELLENCE

NEW YORK, Nov 26 (Bernama-GLOBE NEWSWIRE) -- Computer Generated Solutions, Inc. (CGS), a global provider of software applications, enterprise learning, customer experience and business process outsourcing services, today announced that John Samuel has been promoted to Chief Operating Officer (COO). The appointment reflects CGS’s continuing commitment to operational excellence within the company -- and in service to its blue-chip clients. Clients trust CGS to design, implement, and optimize core business functions, like learning and development, supply chain management, and customer service, allowing them to outpace their competition with greater focus on their own core competencies.

"John's appointment to COO will mark an inflection point in CGS’s forty-one-year history," said Phil Friedman, CGS founder and CEO. "CGS was founded as a technology company and innovation has been core to our success over the years. Our clients trust us to deliver the right combinations of technology, people, and processes to drive their growth. John has a sure footing across all three vectors and is the perfect leader to take our business to new heights. I am particularly excited by John’s vision for integrating AI into our products, services, and operations.”

Since joining CGS in 2016, Samuel has served in various strategic leadership roles, most recently as Executive Vice President, where he spearheaded the company’s digital transformation initiatives. As COO, he will now also oversee global operations. His focus will be driving productivity, operational efficiency, and the integration of advanced technologies to further enhance CGS’s client services. Under John’s leadership, CGS plans to expand its global footprint and implement innovative AI solutions to improve workflows and decision-making processes. These advancements will deliver enhanced efficiency and optimized results, ensuring CGS continues to meet the rapidly evolving needs of its clients.

“As CGS continues to grow and expand globally, I look forward to working closely with our CEO, Phil Friedman, and our exceptional executive team, to execute our vision for driving innovation, enhancing operational excellence, and delivering greater value to our clients and partners,” said Samuel. “This new chapter represents an incredible opportunity to further align our resources and talent with our strategic priorities, pushing boundaries on productivity and efficiency across all areas of the business. I’m honored to play a role in shaping CGS’s future!”

About CGS
For more than 40 years, CGS has enabled global enterprises, regional companies, and government agencies to drive breakthrough performance through business applications, enterprise learning and outsourcing services. CGS is wholly focused on creating comprehensive solutions that meet clients’ complex, multi-dimensional needs, and support clients’ most fundamental business activities. Headquartered in New York City, CGS has offices across North America, South America, Europe, the Middle East, and Asia. For more information, please visit www.cgsinc.com and follow us on LinkedIn.

Media Contact

Alan Marcus
amarcus@cgsinc.com

A photo accompanying this announcement is available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/a39794c0-0478-4d87-8ded-2ed3a2cc96be 

SOURCE : CGS

SIMPPLE DEPLOYS 89 AUTONOMOUS CLEANING ROBOTS ACROSS SINGAPORE'S MRT STATIONS

KUALA LUMPUR, Nov 25 (Bernama) -- SIMPPLE Ltd, a technology provider and innovator in the facilities management sector, through its subsidiary, has completed the sale and deployment of 89 autonomous cleaning robots across Singapore, marking the largest robotic fleet in the land transport sector with rail operator SMRT Trains.

“We are thrilled to supply our robots all across Singapore’s MRT stations. Partnering with SMRT Trains to transform facility management operations with autonomous cleaning robots is a step in the right direction as Singapore transitions to outcome-based contracting,” said SIMPPLE chief executive, Norman Schroeder.

Aligned with the broader Singapore Government initiative to push towards greater automation and digital transformation, SMRT Trains awarded the autonomous cleaning robot contract to SIMPPLE’s subsidiary to deploy across three major Mass Rapid Transit (MRT) lines in Singapore.

These robots utilise advanced sensors and artificial intelligence (AI) to navigate through MRT stations with precision, ensuring a more thorough and consistent clean without human intervention.

Intended to significantly accelerate the speed and efficiency of cleaning operations, these robots relieve the cleaning workforce of strenuous and repetitive tasks, according to SIMPPLE in a statement.

As demand for environmental services continues to rise, driven by economic sophistication and urbanisation, public expectations on maintaining good standards of public hygiene remain high amidst Singapore’s international reputation as a Clean and Green city.

That said, the tight labour market and ageing workforce in Singapore compel forward-looking enterprises like SMRT Trains to adopt new technologies like SIMPPLE’s robotics to complement an already manpower-lean workforce while enabling existing staff to focus on more complex tasks.

As part of the contract to work in tandem with the cleaning workforce, SIMPPLE also trained the cleaners at the MRT stations to operate robots, analyse robot-collected data, and project trends to optimise workflows to maximise efficiency.

Over the past months, SMRT Trains has witnessed a cleaner environment and a more productive workforce as these autonomous cleaning robots clean a defined area three times faster than workers, which in turn frees up time for them to focus on restroom cleanliness and productive task assignments.

-- BERNAMA

SAUDI ARABIA KICKS OFF 28TH WORLD INVESTMENT CONFERENCE

KUALA LUMPUR, Nov 25 (Bernama) -- The 28th annual World Investment Conference (WIC) is taking place in Riyadh for three days until Nov 27, gathering global leaders in investment, government, and international organisations.

Held under the patronage of His Royal Highness Crown Prince and Prime Minister Mohammed bin Salman bin AbdulAziz Al Saud, WIC is organised by the World Association of Investment Promotion Agencies (WAIPA) and Invest Saudi, exploring the theme ‘Harnessing Digital Transformation and Sustainable Growth: Scaling Investment Opportunities’.

“This year’s World Investment Conference in Riyadh will be a platform for sharing our nation’s strategic vision with our partners, and an invaluable opportunity to highlight our status as a trusted partner for sustainable economic growth.

“We look forward to welcoming investment leaders from around the world to forge partnerships that will benefit both the Kingdom and global economies,” said Saudi Arabia Minister of Investment, Khalid Al-Falih.

Key highlights of WIC 2024 will include a range of conference tracks, such as high-level government dialogues, insightful sessions on technology, sustainability, and economic cooperation, as well as practical masterclasses for investment professionals, according to a statement.

A dedicated entrepreneurship track will emphasise the transformative role of startups and innovators, while exclusive matchmaking sessions will facilitate strategic partnerships between investors, small and medium enterprises (SMEs), and potential collaborators.

Participants will also have the opportunity to celebrate the achievements of Investment Promotion Agencies through the Awards Track, honouring innovation and excellence in investment facilitation.

This year’s WIC promises to be a pivotal forum aligned with global investment drivers, including the disruptive influence of technology and artificial intelligence, global supply chain resilience, and energy transition towards sustainability.

With its focus on scaling investment opportunities, WIC 2024 is designed to empower attendees with the tools, knowledge, and connections necessary to drive meaningful economic impact.

-- BERNAMA

BEST'S MARKET SEGMENT REPORT: AM BEST MAINTAINS POSITIVE OUTLOOK ON DELEGATED UNDERWRITING AUTHORITY ENTERPRISES SEGMENT

OLDWICK, N.J., Nov 22 (Bernama-BUSINESS WIRE) -- AM Best is maintaining its market segment outlook for the delegated underwriting authority enterprise (DUAE) segment at positive, citing its sustained growth and niche expertise, despite potential issues that could arise from capacity challenges and rapid growth.

The DUAE distribution channel continues to increase its market share, supported by strong and sustained premium growth globally. According to the Best’s Market Segment Report, “Market Segment Outlook: Delegated Underwriting Authority Enterprises,” capacity for the DUAE segment has benefited from ongoing material growth in the excess and surplus (E&S) market, as elevated catastrophe activity and the regulatory environment continue to direct more premiums into surplus line businesses.

“The general optimism among insurers and reinsurers about DUAEs persists, with more strategic partnerships being formed between carriers and DUAEs,” said Yizhou Hong, senior financial analyst, AM Best. “These partnerships are generally longer-term and allow capacity support across lines of business, industries, and geographies, instead of simply by program.”

The DUAE segment’s growing niche expertise is aligned with the insurance industry’s growing demand for specialty products, with investments in technology and talent serving as positive growth drivers. However, the report strikes a cautionary note on the segment’s strengthening ties to E&S and fronting sectors, given the potential for greater dependence on reinsurers and reinsurance.

Reinsurance capacity constraints can negatively affect the DUAE market in the form of capacity tightening, compressed commission income, and narrowing underwriting margins, as well as weakened bottom-line performance. In addition, DUAEs find themselves with rising exposures to reinsurer credit risk and concentration risk. 

http://mrem.bernama.com/viewsm.php?idm=49853

CARGILL TRANSFORMS SINGAPORE INNOVATION CENTER TO MEET EVOLVING ASIAN FOOD CONSUMPTION NEEDS

Supported by the Singapore Economic Development Board and Enterprise Singapore, the refurbishment will enable Cargill to serve the booming foodservice sector and demand for indulgent foods

SINGAPORE, Nov 21 (Bernama-BUSINESS WIRE) -- To advance innovation and further contribute to Asia’s vibrant food ecosystem, Cargill is bolstering the capabilities of its Singapore Innovation Center, supported by the Singapore Economic Development Board (EDB) and Enterprise Singapore.

Expected to be completed by early 2025, the enhancements will enable Cargill to better collaborate with its food manufacturing, foodservice and retail customers in Singapore and across the region to develop innovative foods that meet Asian consumer trends. By establishing and augmenting new and existing innovation capabilities, as well as strengthening external innovation with customers, suppliers and other partners, the transition of the center will also provide opportunities for customers to grow and expand, be it locally, regionally or globally, by leveraging Cargill’s extensive network and regional strength.

According to Cargill’s 2024 proprietary APAC TrendTracker study, health and wellness are top of mind for Asian consumers when making diet and lifestyle choices. At the same time, consumers also enjoy indulging in food and beverages while seeking guilt-free pleasures, novelty and elevated sensory experiences. Last but not least, the rise of the middle-class across Asia with consumers enjoying greater spending power while also wanting more convenience in their busier lives is driving strong growth in the foodservice and HORECA (Hotel, Restaurant, Café/Catering) sectors as dining out, takeaways and food deliveries become increasingly popular. 

http://mrem.bernama.com/viewsm.php?idm=49846

H2O.AI UNVEILS AGENTIC AI THAT CONVERGES GENERATIVE AND PREDICTIVE AI WITH PURPOSE-BUILT SLMS

The industry’s first multi-agent Generative AI platform to bring together the strengths of Generative AI and Predictive AI with airgapped, on-premise deployment options.

Building on the recent releases of H2O Mississippi and Danube small language models (SLMs), this platform brings together purpose-built AI solutions for enterprise scale and regulated industries.

MOUNTAIN VIEW, Calif., Nov 22 (Bernama-BUSINESS WIRE) -- H2O.ai, the leader in open-source Generative AI and the most accurate Predictive AI platforms, today announced the industry-first convergence of Predictive AI and Generative AI in its enterprise generative AI platform, h2oGPTe. The new agentic capabilities enable h2oGPTe Agents to seamlessly integrate H2O.ai’s predictive AI models into autonomous workflows, ushering in a new era of operational efficiency and intelligent automation.

This breakthrough transforms h2oGPTe into the only end-to-end enterprise AI platform to converge Generative and Predictive AI capabilities in air-gapped, on-premise and cloud environments, ensuring both compliance and innovation. Built for industries like finance, telco, healthcare, and government, h2oGPTe’s multi-agent AI system autonomously manages complex, multi-step tasks, drawing from both generative insights and predictive accuracy to enhance enterprise decision-making with transparency and control.

"Multi-agent systems are the digital workforce of tomorrow, equipped not only to act but to adapt, collaborate, and evolve,” said Sri Ambati, Founder and CEO of H2O.ai. “Our pioneering work with agentic AI allows organizations to unlock the potential of converged predictive and generative intelligence—moving beyond automation to true transformation of enterprise workflows. It’s about amplifying human potential and democratizing AI, so every business can achieve exponential growth.”

To further illustrate, an agent can classify customer call center inquiries into over 80 categories using a fine-tuned H2O Danube model at a fraction of the cost of traditional large language models (LLMs). This system is then orchestrated with an Agentic AI framework powered by state-of-the-art LLMs to dynamically provision operators using a predictive AI agent, enabling efficient complaint resolution.

“The development and deployment of generative language models, particularly in high-stakes sectors like banking, demand a rigorous framework that balances automation of testing and evaluation with human calibration to ensure reliability and transparency,” said Agus Sudjianto, Senior Vice President Risk & Technology.

Consistency and safety in Agentic AI needs rigor, continuous reinforcement, and learning. Building trust in AI agents requires rigorous testing, thorough evaluation frameworks, and transparency through open-source development.

With its rich set of features, h2oGPTe is designed to meet these needs, providing robust agent reliability, document AI capabilities, and advanced safety protocols.

Key Features of h2oGPTe:

• Multimodal Agentic AI with Predictive Model Integration
  h2oGPTe Agents bring autonomous task execution to your workflows, employing LLMs to perform multi-step actions such as web research, predictive modeling, database access and iterative code execution. These agents operate programmatically to reduce manual workload and streamline operations, offering continuous, autonomous performance on tasks requiring sequential logic, data science, programming, and complex decision-making. h2oGPTe Agents can create multi-page PDF documents with charts and tables and flowcharts grounded on actual data found across various data sources, or train and deploy highly predictive and explainable machine learning models by autonomously leveraging the world’s best AutoML H2O Driverless AI.
   
• Model Risk Management for Enhanced Compliance and Interpretability
  • Transparent Assessments with Embedding and ML-Driven Evaluators: Embedding-based metrics complemented with Natural Language Inference provide transparent, explainable and objective model assessments to enhance accountability and clarity.
  • Calibrated Metrics with Human Feedback: Incorporating sampling of human feedbacks calibrate automated metrics, enabling efficient and trustworthy evaluations crucial for high-stakes applications.
  • Robust Testing through Automated Question Generation: Automated question generation facilitates comprehensive testing to identify model vulnerabilities and improve reliability.
  • Rapid Diagnostics with Visual Insights: Visualizations to enable quick identification of patterns and weaknesses, supporting efficient diagnostics and model improvement.
     
• Coding Assistant for Rapid Prototyping
  h2oGPTe's Coding Assistant helps developers quickly prototype ideas by generating starter code and scaffolding for new projects. It provides basic code completion and documentation, helping teams move from concept to working prototype faster. The assistant supports common programming languages and can suggest simple optimizations during development.
   
• Citation-Based Verification for Transparent Retrieval Augmented Generation (RAG)
  State-of-the-art multimodal RAG with built-in citation support offers comprehensive traceability for AI-generated responses, with embedded document references that enhance transparency. This feature is ideal for audit-heavy sectors, ensuring each AI response is both accurate and verifiable.
   
• Customizable Guardrails for Safe AI Deployment
  Control response boundaries and safeguard sensitive information with h2oGPTe’s guardrails and PII controls. Configurable safety mechanisms allow enterprises to comply with stringent policies and ethics standards, aligning AI behavior with corporate and regulatory guidelines.
   
• Intelligent Model Routing for Optimized Performance
  By dynamically routing queries to the best-suited model, h2oGPTe maximizes efficiency based on real-time assessments of cost, latency, and accuracy. Customers can decide to mix and match from a large choice of over 30 proprietary and open source LLMs. This feature ensures optimal performance without overextending resources, streamlining the deployment of Generative AI.
   
• Document AI with Multimodal Guided JSON Generation
  With built-in Document AI, h2oGPTe produces schema-driven JSON outputs for efficient processing—essential for contract summarization, compliance metrics extraction, and structured reporting. This ensures reliable, contextually grounded outputs drawn from private repositories like document archives and knowledge bases.
   
• Multimodal Audio and Vision Analysis
  h2oGPTe's Audio and Vision Models can extract structured information from audio files, images, figures, and other visual elements like flowcharts or handwritten documents. These capabilities are essential for fields where insights are often embedded in diagrams and tables, offering a new level of interpretability and insight for data-driven decision-making in visual-heavy contexts. Audio models can transcribe and translate recordings in dozens of languages. Vision models can help AI agents autonomously verify their own generated content.

H2O Agentic AI and new features are generally available in Enterprise h2oGPTe on Thursday, Nov. 21, 2024. For more information or to schedule a demo, visit https://h2o.ai/platform/enterprise-h2ogpte/

About H2O.ai

Founded in 2012, H2O.ai is at the forefront of the AI movement to democratize Generative AI. H2O.ai’s open-source Generative AI and Enterprise h2oGPTe, combined with Document AI and the award-winning autoML Driverless AI, have transformed more than 20,000 global organizations, and over half of the Fortune 500, including AT&T, Commonwealth Bank of Australia, Chipotle, Singtel, Workday, Progressive Insurance, and AES.

H2O.ai partners include Dell, Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), NVIDIA, Snowflake, AWS, Google Cloud Platform (GCP) and Microsoft Azure. H2O.ai’s AI for Good program supports nonprofit groups, foundations, and communities in advancing education, healthcare, and environmental conservation. With a vibrant community of 2 million data scientists worldwide, H2O.ai aims to co-create valuable AI applications for all users.

H2O.ai has raised $256 million from investors, including Commonwealth Bank, Nvidia, Goldman Sachs, Wells Fargo, Capital One, Nexus Ventures and New York Life. 

http://mrem.bernama.com/viewsm.php?idm=49860

IIF-MAYBANK SUSTAINABLE FINANCE FORUM ENGAGES ON GLOBAL SUSTAINABILITY THEMES AND PATHWAYS FOR A JUST TRANSITION

^{YAB Dato’ Sri Haji Fadillah Yusof, Deputy Prime Minister of Malaysia and Minister of Energy Transition and Water Transformation (center), Dato’ Khairussaleh Ramli, President & Group CEO Maybank (on YAB’s left) together with IIF senior management and Maybank Board & Senior management at the Maybank Sustainable Finance Forum held at Shangri-La Kuala Lumpur recently.}



- Maybank hosts second Sustainable Finance conference with IIF in Malaysia, enabling over 300 attendees towards sustainable economic transformation
 

KUALA LUMPUR, Nov 20 (Bernama) -- In furthering efforts to drive sustainable finance and transition towards a more sustainable economy, Maybank hosted the second sustainability conference, the Institute of International Finance (IIF) – Maybank Sustainable Finance Forum with the primary focus on fostering collaboration, exchange of ideas and innovative insights and encouraging responsible financial practices for organisations to achieve a low-carbon economy through sustainable financing.
 
Over 300 attendees consisting of prominent regional and local corporates, sovereign wealth funds, financial institutions and NGOs attended the forum which served as a capacity building initiative on sustainable finance, enabling participants to decarbonise their businesses through a credible and orderly manner, aligning to international best practices and principles.
 
The forum hosted in Kuala Lumpur was graced by YAB Dato’ Sri Haji Fadillah Yusof, Deputy Prime Minister of Malaysia and Minister of Energy Transition and Water Transformation, and saw the collaboration of IIF, represented by Ms. Sonja Gibbs, Managing Director and Head of Sustainable Finance, IIF and Mr. Emre Tiftik, Director of Sustainability Research, IIF, and Maybank, led by its President & Group CEO, Dato’ Khairussaleh Ramli.
 
Speaking at the event, Dato’ Khairussaleh Ramli said that the IIF-Maybank Sustainable Finance Forum aims to create conducive platforms for exchange of ideas and innovative insights, to identify actionable items to solidify organisations’ transition plans and collectively work towards building a better tomorrow.
 
“We must continue to pursue our respective sustainability efforts towards a structured transition to net zero. Expanding the sustainable finance market is critical to achieving net zero goals. The triple bottom line approach of balancing environmental, economic and social sustainability imperatives guides us how to align the financial markets with corporate, sectoral and national decarbonisation efforts. At Maybank, we recognise that the strength of our sustainability efforts and achievements are a reflection of the sustainability efforts and achievements of our clients and the communities we serve. We are committed to pursue a whole-of-nation approach towards building and reinforcing a credible, orderly and just transition plan.”
 
The IIF-Maybank Sustainable Finance Forum is Maybank’s second collaboration with the Institute of International Finance (IIF), continuing from the success of the first IIF-Maybank event held in 2023 themed ‘IIF-Maybank Transition Finance Workshop’ which was attended by over 120 participants consisting of eminent regional and local corporates and financial institutions. 


SOURCE : Maybank

SBC MEDICAL TO ACQUIRE SINGAPORE’S AHH, EXPANDING INTO ASIA

KUALA LUMPUR, Nov 19 (Bernama) -- SBC Medical Group Holdings Incorporated (SBC), announced it has entered into a definitive agreement to acquire Aesthetic Healthcare Holdings Pte Ltd (AHH), a Singapore-based aesthetic medical treatment provider, in an all cash transaction.

The acquisition marks the first step in SBC’s strategy to grow its business through acquisitions, which includes plans to expand its business internationally with a primary focus on the United States and Asia markets.

“We are very pleased to welcome AHH to our group. AHH has been providing high-quality aesthetic medical services in Singapore for many years and has earned the trust of many customers.

“With this acquisition, we expect to accelerate our expansion into the Asian market and strengthen our global aesthetic medical treatment delivery system,” said SBC Founder and Chief Executive Officer (CEO), Yoshiyuki Aikawa in a statement.

Meanwhile, AHH CEO, Dr Ewen Chee said: “We see this acquisition as an opportunity for new growth, and we are confident that SBC's advanced technology, management know-how, and extensive experience in the Japanese market will contribute greatly to our further development.

“We expect to accelerate our expansion throughout Asia and provide the best aesthetic medical treatments to as many patients as possible. Together, with SBC, we aim to be a leader in the Asian aesthetic medicine industry and will make further efforts to meet the expectations of each and every patient.”

SBC, a global provider of comprehensive consulting and management services to the medical corporations and their clinics, believes Singapore represents the ideal hub for the further development of its brand in the region due to its strategic location and developed medical infrastructure.

With the acquisition of AHH, SBC believes it has taken an important step toward expanding its presence in the Asian market. AHH's portfolio consists of four brands and 21 outlets, and will be added to the SBC clinic network, strengthening its customer base in the Asian region.

The expansion of SBC's global presence is consistent with its mission to establish leadership in the aesthetic medical industry by providing the value of beauty and health beyond national borders through innovative aesthetic medical treatments.

-- BERNAMA