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: 
https://www.businesswire.com/news/home/20241126137628/en/

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. 

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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. 

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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

AM BEST DOWNGRADES CREDIT RATINGS OF EVERGREEN INSURANCE COMPANY LIMITED

HONG KONG, Nov 18 (Bernama-BUSINESS WIRE) -- AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “a” (Excellent) of Evergreen Insurance Company Limited (EICL) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect EICL’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the parental support EICL receives from Evergreen International S.A. and Evergreen International Corporation in terms of capital, business development, operations and risk management.

The rating downgrades reflect changes to EICL’s operating performance and business profile assessment, based on EICL’s latest business plan to cease underwriting new business starting from mid-May 2024. AM Best revised the company’s operating performance assessment to adequate from strong given that its top-line and bottom-line results are projected to drop materially in the next two years. Additionally, AM Best revised the company’s business profile assessment to limited from neutral due to the planned reduction in business scale.

EICL’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2023, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite the significant projected decline in the absolute capital level as per the company’s capital and business plan, AM Best expects EICL’s risk-adjusted capitalisation to be maintained at the strongest level in the intermediate term due to the significantly reduced underwriting risks. Other supportive factors of the balance sheet strength include a highly liquid and conservative investment portfolio, a track record of prudent reserving, and a comprehensive reinsurance programme.

As a pure captive of Evergreen Group, EICL’s in-force underwriting portfolio primarily consists of marine, aviation and property risks related to the group’s operations. The company has ceded the majority of its risk exposures to a panel of financially sound reinsurers and maintained a low retention ratio. EICL’s overall capital position and profitability have been stable over the past five years, owing to prudent underwriting practices, conservative reserving assumptions and long-term reinsurance relationships. EICL’s risk management is well-embedded into the group’s risk framework and is viewed as appropriate to support its risk profile.

EICL’s five-year average return-on-equity ratio was 12.2% (2019-2023). Operating results are expected to remain favourable and stable in 2024, supported by profitable underwriting and higher investment income. However, minimal prospective earnings are projected in 2025 and 2026 based on its business plan.

EICL has historically been a beneficiary of support from its shareholders and the wider parent group. AM Best expects EICL’s shareholders will remain committed and continue to render support to the company during the run-off period in terms of capital, risk management and operations, if needed.

Negative rating actions could occur if there is a significant deterioration in EICL’s risk-adjusted capitalisation to a level that no longer supports the current balance sheet strength assessment. Negative rating actions could occur if there is significant deterioration in the level of support from its shareholders, Evergreen International S.A. and Evergreen International Corporation. Negative rating actions could occur if there is material adverse deviation in the execution of the business plan that no longer supports an adequate assessment of operating performance. Although it is deemed unlikely, positive rating actions could occur if there is a significant improvement in the company’s balance sheet strength.

AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

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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.

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EAACI TO LAUNCH WORLD ANAPHYLAXIS AWARENESS DAY ON 21 NOVEMBER AT FAAM-EUROBAT 2024

ATHENS, Greece, Nov 14 (Bernama-GLOBE NEWSWIRE) -- The European Academy of Allergy and Clinical Immunology (EAACI) is proud to announce the inaugural World Anaphylaxis Awareness Day on 21 November 2024. This landmark initiative, held on the opening day of FAAM-EUROBAT 2024 in Athens, Greece, seeks to raise awareness and promote essential steps in preventing and managing anaphylaxis, a severe, potentially life-threatening allergic reaction.

Anaphylaxis affects approximately 1-2% of the global population, with incidents on the rise worldwide. This severe allergic reaction demands immediate medical intervention and often stems from exposure to common allergens, including specific foods, insect stings, medications, or latex. Despite the risks, awareness of anaphylaxis symptoms, causes, and emergency responses remains low. World Anaphylaxis Awareness Day addresses these knowledge gaps and fosters a global understanding of this critical health issue.

Through various educational activities, World Anaphylaxis Awareness Day will underscore the importance of prompt emergency responses and preventive measures. EAACI invites medical professionals, allergy societies, and stakeholders worldwide to participate and amplify the message within their communities.

In conjunction with this day, EAACI will also release “A Practical Guide for Patients,” a comprehensive resource developed to support patients and caregivers in understanding, managing, and preventing anaphylactic reactions. This guide offers practical insights on identifying triggers, using adrenaline auto-injectors correctly, and creating personalised action plans to manage risk in everyday life.

“We are thrilled to launch World Anaphylaxis Awareness Day as part of FAAM-EUROBAT 2024,” said Dr Maria Torres, EAACI President. “With this initiative, we hope to empower individuals, families, and healthcare providers with the knowledge and tools to prevent and respond to anaphylaxis. This is an essential step toward improving patient care and reducing the impact of this serious health condition.”

FAAM-EUROBAT 2024, EAACI’s renowned Food Allergy and Anaphylaxis Meeting, will run from 21-23 November, featuring global leaders in allergy research and care. World Anaphylaxis Awareness Day will serve as a key moment within the conference to highlight EAACI’s commitment to patient safety and allergy awareness.

http://mrem.bernama.com/viewsm.php?idm=49779

SYNCHRONOSS RENEWS PARTNERSHIP WITH MAJOR FRENCH OPERATOR

Building on an 8-Year Partnership, this Leading Service Provider Will Continue to Utilize Synchronoss Personal Cloud and Enable Subscribers throughout France to Manage, Optimize, and Share All Types of Digital Content

BRIDGEWATER, N.J., Nov 13 (Bernama-GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (NASDAQ: SNCR), a global leader and innovator in personal cloud platforms, today announced a three-year contract renewal with a leading French operator. This service provider operates a high-speed, fixed, and mobile network across France and serves more than 27 million individuals, businesses, communities, and operators. Through the extended partnership, the company will continue to deliver a range of value-added cloud offerings powered by Synchronoss Personal Cloud.

Synchronoss Personal Cloud is a white-label platform that allows service providers to deliver a branded personal cloud solution to centrally backup, sync, and organize a broad range of digital content and files. Purpose-built for service providers, Synchronoss Personal Cloud offers a highly secure and scalable cloud platform that integrates artificial intelligence (AI), machine learning, and other advanced features.

“Expanding our long-standing partnership is a testament to our cloud platform and the value it delivers to this provider’s subscriber base throughout France,” said Jeff Miller, President and CEO of Synchronoss. “We’re excited to enhance the cloud offering with new features such as Tagging, Backtrack and AI photo enhancements that the French carrier will use to drive further subscriber engagement, increase ARPU and reduce churn amongst its subscriber base.”

Unlike some over-the-top (OTT) services, Synchronoss Personal Cloud ensures data security and privacy. It provides the flexibility for operators and service providers to select which capabilities and functionality they want to offer subscribers as part of tiered plans, such as basic, value-added, and premium offerings. As a private-label, branded solution, service providers can monetize the cloud in new ways, offering subscribers upgrade options to better engage with digital content, thus reducing churn and increasing average revenue per user (ARPU). 

http://mrem.bernama.com/viewsm.php?idm=49760

Voxela Secures Funding To Accelerate Global Expansion Of AI-powered Care Management Solution

KUALA LUMPUR, Nov 13 (Bernama) -- Voxela Inc (Voxela), which created the artificial intelligence (AI) care management system Voxela VCare, has completed its pre-Series A funding round.

The number of facilities using Voxela VCare has steadily increased in the two years since its release, and with the funds raised in this round, the company aims to further enhance its features as well as accelerate domestic and international adoption, according to a statement.

Voxela aims to redefine the future of caregiving globally, with expertise in the Japan and the United States markets, by leveraging technology to deliver personalised care for each resident while helping facilities deliver more efficient and effective care.

Aligned with this mission, the company offers Voxela VCare, a service powered by AI-driven image analysis technology that detects accidents and risks, such as falls or wandering in care facilities and hospitals, while providing comprehensive monitoring, incident reporting, evaluation, and prevention.

Voxela leverages cutting-edge AI technology to address eldercare challenges with rapid and effective solutions. By delivering this service, Voxela drives innovation across the eldercare industry globally.

Facilities that have implemented the system report a significant reduction in irregular incidents and praise for the low installation and implementation costs. The accompanying app has also been highly rated for its ease of use and minimal operational burden.

The system provides higher-quality care services, leading to increased enquiries from across the globe, by reducing the workload in eldercare environments struggling with staff shortages.

By combining innovative technology with a deep understanding of the industry, the company will continue to update and expand its caregiving solutions, ensuring that elderly people worldwide can live with dignity and their families can live with peace of mind.

Japan has faced the challenge of an ageing population a few years ahead of other developed countries, which is why the country has the potential to create a new global standard.

Voxela will continue to support elderly individuals, carers, and those striving to transform the caregiving industry through AI. The company's proven track record of deployments in Japanese care facilities, unparalleled features, and high accuracy have been lauded globally and are now driving accelerated sales.

-- BERNAMA

BIBAN24 WRAPS UP WITH US$9 BLN IN AGREEMENTS, FUELLING SAUDI'S SME GROWTH

KUALA LUMPUR, Nov 11 (Bernama) -- Agreements worth over US$9 billion were signed at Biban24, Saudi Arabia’s flagship startup and small and medium-sized enterprises (SME) forum, organised by Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom. (US$1=RM4.38)

The five-day event, which concluded on Nov 9 attracted an impressive 182,000 visitors and raised the bar for SME partnership-working, creating a constructive environment for investors and entrepreneurs to launch impactful partnerships and businesses.

In a statement, Monsha’at said the fifth and final day of the forum brought leading entities together to sign a diverse selection of innovative agreements, memorandum of understandings (MoUs) and exclusive partnerships aimed at advancing regional and global entrepreneurship.

Notably, on day five, Tameed launched a financing portfolio worth 2.6 billion Saudi riyals, while both Interactive Smart Communications and Mudarabah introduced a financing portfolio valued at one billion Saudi riyals each, in addition to Saudi Aramco’s investment rounds from WAED Ventures worth 18 million Saudi riyals.

Biban24 also hosted the final rounds of the Entrepreneurship World Cup (EWC), in which 100 finalists, representing 52 countries, participated in the finals of the annual startup pitch competition, providing competitors the chance to win US$1 million in cash prizes and benefit from providing competitors and another US$1 million from networking and access to investment opportunities.

In previous years, the EWC featured several award tracks, including “Growth Stage”, “Early Stage”, “Idea Stage”, and “Innovation Priorities”, all aimed at supporting and empowering entrepreneurs worldwide to develop their projects, hone their skills, and engage with a global network of mentors and advisors.

The competition's 2025 edition focused on a new strategic track dedicated to space technologies, encompassing several subfields such as mining, health and sports, agriculture, and resource management.

This track complements the general track, with cash prizes specifically for space technologies totalling US$200,000, in addition to the overall prize pool of US$800,000.

On the final day of Biban24, Nomiq was announced the winner of the “Idea Stage”, Yumari was ranked first in the “Early Stage” track, and MisMar was named the winner of the “Growth Stage”.

In addition, VitruvianMD was revealed as the overall winner of the healthcare category, EnergyX took first place in the energy category, Salutes Space was recognised with top honours in the “Economies of the Future” category, whereas Marine Innovation was the winner of the competition’s sustainability category.

-- BERNAMA

DUCK CREEK TECHNOLOGIES TO HOST THIRD-ANNUAL "ONE DUCK CREEK-INDIA INCLUSION SUMMIT" IN MUMBAI

The summit, themed "Shaping the Future: Inclusion, Belonging, and Well-Being at Work," will spotlight community-building, wellness, and professional growth

MUMBAI, India, Nov 8 (Bernama-GLOBE NEWSWIRE) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, will host its third-annual “One Duck Creek-India Inclusion Summit” in Mumbai. This two-day event focuses on creating a workplace where inclusion, belonging, and well-being actively thrive as part of Duck Creek’s dedication to fostering a diverse, resilient workforce. 

The summit features immersive panels, networking opportunities, and hands-on cultural celebrations, including a Diwali event, aligning with Duck Creek’s mission to develop an environment where every individual feels supported, valued, and engaged both personally and professionally. 

“The One Duck Creek-India Inclusion Summit embodies our commitment to fostering a workplace where everyone feels valued and empowered. As we gather in Mumbai, we’re reminded of the strength that comes from uniting diverse voices, experiences, and talents. This summit not only reinforces our dedication to creating an inclusive culture but also serves as a catalyst for deeper collaboration and innovation across our organization and within the technology community in India,” said Gowri Sivaprasad, Vice President of Engineering at Duck Creek Technologies. 

Building on the success of last year’s event, this year’s Inclusion Summit delves into meaningful discussions led by Duck Creek’s DEI Advisory Board, Employee Experience Council, Employee Resource Groups and other key One Duck Creek programs within the company. Duck Creek’s Executive Leadership Team will host a town hall, sharing company updates and encouraging open dialogue across the organization. The Duck Creek Gives Back Event invites attendees to support the Life Lab Foundation, whose mission is to combine learning with play, and inspire a new generation of learners.  

"We’re thrilled to reunite our Ducks in Mumbai to celebrate the company’s ongoing efforts to create a dynamic, inclusive global culture," said Amy Bayer, Global Director of DE&I, Engagement & Culture at Duck Creek Technologies. "The One Duck Creek Summit reflects our deep commitment to fostering a diverse, equitable, and supportive work environment. This event strengthens our team’s connections and reinforces our mission to build an industry-leading workplace in the P&C and general insurance sectors."  

http://mrem.bernama.com/viewsm.php?idm=49722

NIPPON ELECTRIC GLASS UNVEILS NEW NAME, LOGO FOR ALKALI-RESISTANT GLASS FIBRE

 

KUALA LUMPUR, Nov 5 (Bernama) -- Japanese glass manufacturer, Nippon Electric Glass Co Ltd (NEG) has announced a new name and logo for its alkali-resistant glass fibre (ARG Fiber) product range.

This represents a new stage in the over 40-year history of ARG Fiber, in which during this time has contributed to many architectural and civil engineering projects.

The new name, WizARG is coined from "Wizard" and "ARG Fiber", and it conveys the sense of freedom to create magically, according to the company in a statement.

Developed and produced based in Japan, WizARG has been widely used in the construction and civil engineering fields. It contains a high percentage of zirconia, which enhances its resistance to alkali in cement composites.

NEG provides a stable supply from its sales locations around the world and develops various shapes and proposes products that suit its customers' applications. It will continue to protect the creativity and value of architecture, civil engineering, and a wide variety of other sculptures around the world.

The company has been manufacturing and selling ARG Fiber for over 40 years, and with its achievements and experience, as well as the introduction of a new product name and logo, the company aims to provide customers with products that better meet their needs.

Furthermore, NEG will actively expand in the global market and provide product quality and reliability to customers worldwide.

It will continue to strive for sustainable growth while aiming to improve customer satisfaction. Additionally, through the introduction of a new name and logo, it will achieve further expansion and establish itself as a leading company in the global market.

-- BERNAMA