Indonesia’s Asuransi Astra Receives Ratings Action From AM Best

KUALA LUMPUR, March 15 (Bernama) -- Global credit rating agency, AM Best has affirmed Indonesia’s PT Asuransi Astra Buana (Asuransi Astra) financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) with a stable outlook on these credit ratings (ratings).

Concurrently, AM Best has assigned the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) to Asuransi Astra with a stable outlook.

The ratings reflect Asuransi Astra’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

The credit rating agency in a statement said the ratings also factor in a neutral impact from Asuransi Astra’s ultimate parent, Jardine Matheson Holdings Limited (Bermuda).

Asuransi Astra’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at Dec 31, 2022, as measured by Best’s Capital Adequacy Ratio, and is expected to be maintained at this level prospectively.

The company’s capital adequacy is supported by its internal capital generation and low net underwriting leverage.

AM Best views Asuransi Astra’s investment portfolio to have moderate risk, comprising mainly bonds held directly and through mutual funds with more than half of those being domestically rated bond funds.

The company’s operating performance was also viewed as strong, demonstrated by its five-year average combined ratio of 88.1 per cent and return-on-equity ratio of 17.6 per cent (2019-2023), driven by profitable business from its parent group, PT Astra International Tbk (Astra group).

With its business profile assessed as neutral, Asuransi Astra is a large insurance organisation in Indonesia, ranking third in the country’s general insurance market based on 2022 market share.

-- BERNAMA

GUANGDONG PROVINCIAL DELEGATION OPENS COMMUNAL DISCUSSION TO MEDIA

KUALA LUMPUR, March 12 (Bernama) -- A total of 225 journalists from 102 domestic and international media outlets attended the Guangdong Provincial Delegation's Second Meeting of the 14th National People's Congress on March 7 at the Capital Hotel.

According to a statement, delegates including Huang Kunming, Wang Weizhong, Zhang Hu, Qin Weizhong and Zeng Jinze, shared updates on Guangdong's strategies for sustainable development and modernisation.

During the session, Huang addressed inquiries about the "Thousand Villages Demonstration and Ten Thousand Villages Renovation" project, aimed at diminishing urban-rural disparities within the province.

He noted the challenges in balancing development due to geographical and economic diversities but highlighted the project's early successes in enhancing rural education, industry, and technology, particularly in the Pearl River Delta and other regions.

On the other hand, Wang discussed the transformation of Guangdong's manufacturing sector, which contributes significantly to the province's gross domestic product (GDP) and forms an essential part of the national economy.

The province is committed to integrating into the global industrial and value chains, with plans to modernise traditional industries, foster emerging sectors, and encourage a balanced growth among enterprises of various sizes.

The session, which featured numerous questions from the media, underlines Guangdong's ongoing efforts in economic development and rural modernisation.

-- BERNAMA

CAH MEDICAL CENTRES (CMC) ELEVATE PATIENT CARE WITH NETSFERE'S SECURE AND COMPLIANT MESSAGING PLATFORM

Leading Southeast Asia hospital systems choose the HIPAA-compliant encrypted messaging platform to ensure safe communication amongst doctors, caregivers and staff 

CHICAGO, March 6 (Bernama-GLOBE NEWSWIRE) -- NetSfere, a globally recognized provider of cutting-edge, secure and compliant messaging solutions, is pleased to announce that the seven hospitals affiliated with CAH Medical Centres (CMC), previously known as Ramsay Sime Darby Health Care and now under the ownership of Columbia Asia Healthcare Group, have adopted NetSfere's secure enterprise messaging platform to enhance internal communication and operational excellence while also elevating the patient experience. The hospitals that have rolled out NetSfere are Subang Jaya Medical Centre (SJMC), Ara Damansara Medical Centre (ADMC), ParkCity Medical Centre (PMC), Bukit Tinggi Medical Centre (BTMC), RS Premier Jatinegara (RSPJ), RS Premier Bintaro (RSPB), and RS Premier Surabaya (RSPS). All seven hospitals are steadfast in their commitment to delivering top-tier preventive and curative healthcare services, with a focus on achieving exceptional patient outcomes.

As most of the hospitals under CMC are Joint Commission International (JCI) accredited, they must set governing policies for messaging to protect and control their privileged information. As cybersecurity threats confronting healthcare systems escalate, CMC proactively sought a secure and seamless messaging platform to facilitate private and sensitive organizational communication among the staff. NetSfere’s highly secure and compliant messaging platform ensures the utmost security of hospital and patient data. This unwavering commitment to compliance and security underscores NetSfere’s and CMC’s dedication to safeguarding sensitive healthcare information and delivering the highest standard of patient care. 

http://mrem.bernama.com/viewsm.php?idm=48169

TDCX'S FULL YEAR 2023 REVENUE DOWN 0.9%, OR UP 3.0% IN CONSTANT CURRENCY TERMS1

SINGAPORE, March 7 (Bernama-BUSINESS WIRE) -- TDCX Inc. (NYSE: TDCX) (“TDCX” or the “Company”), an award-winning digital customer experience (CX) solutions provider for technology and blue-chip companies, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.

Full Year 2023 Financial Highlights^²

· Total revenue of US$499.3 million, down 0.9% year-on-year, or up 3.0% in constant currency terms¹, which included a 3.9% point negative impact of foreign exchange rates compared with the prior year
· Profit for the year was US$91.1 million, up 14.5% year-on-year, primarily driven by cost optimization efforts, lower tax, higher interest income and a net reversal of equity settled share-based payment expense

Fourth Quarter 2023 Financial Highlights^²

· Total revenue of US$120.4 million, down 10.1% year-on-year, or down 5.3% in constant currency terms¹, which included a 4.8% point negative impact of foreign exchange rates compared with the prior year period
· Profit for the period was US$24.2 million, up 27.8% year-on-year, primarily driven by cost optimization efforts, lower tax, higher interest income and a net reversal of equity settled share-based payment expense 

Mr. Laurent Junique, Chief Executive Officer and Founder of TDCX, said, “Market uncertainties and a challenging macroeconomic environment continue to dampen business sentiment. This has had a knock-on impact on TDCX. Despite these pressures, we delivered within our guidance, and remain focused on the long term, particularly on improving our operations and delivering client value propositions.” 

http://mrem.bernama.com/viewsm.php?idm=48176

XSOLLA INTRODUCES A NEW PAYMENT OPTION FOR DEVELOPERS SEEKING TO EXPAND INTO THE JAPANESE MARKET

^{(Graphic: Xsolla)}


Xsolla Enables Developers Worldwide to Accept Payments via PayPay


LOS ANGELES & TOKYO, March 7 (Bernama-BUSINESS WIRE) -- Xsolla, a global video game commerce company, announces the launch of Pay with PayPay for its global partners and video game players in Japan. Xsolla continually seeks to innovate gaming payment solutions to help mobile, PC, cloud, and web-based video game developers grow their audience and meet the needs of players around the globe. By offering this additional payment method at checkout, game developers worldwide can expand their reach into the Japanese market and meet the evolving needs of their players. This partnership also directly supports Xsolla’s commitment to the region and the new local office expansion in Tokyo, Japan, this past August.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240306339887/en/

 

With 58 million users¹ and growing, PayPay is the largest Japanese mobile payment app, accepted both online and at physical retailers across Japan. Based on a 2022 study by Rakuten Insight, around 55% of shoppers in Japan prefer using PayPay, which holds a 45% market share in the QR code payment sector.² Users create an account in the mobile app and connect a bank account or credit card to pay for everyday purchases.

"We're excited to connect PayPay to Xsolla and allow our global partners to reach a new audience and offer another payment option to their players," said Chris Hewish, CEO of Xsolla. "This partnership will give our partners increased coverage for their players in Japan and allow them to tap into the power of innovative payment tech, like QR codes."

Xsolla Payments simplifies the checkout journey with an intuitive, multi-platform UI, compatibility with popular mobile wallets, and access to 700+ payment methods and 130+ currencies in over 200+ regions. Its PayRank technology automatically surfaces and ranks the payment methods most relevant for each customer, like PayPay.

For more information about Pay with PayPay, please visit: xsolla.pro/paypay

About Xsolla

Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Seoul, Beijing, Kuala Lumpur, Raleigh, Tokyo, and cities around the world, Xsolla supports major gaming titles like Valve, Twitch, Roblox, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.

For additional information and to learn more, please visit: xsolla.com

¹ PayPay
² Bloomberg Article - Struggling Rakuten Might Need to Phone a Friend


View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240306339887/en/

Contact

Derrick Stembridge
Global Director of Public Relations, Xsolla
d.stembridge@xsolla.com

Source : Xsolla

HYTERA LATEST INNOVATION REVOLUTIONISES FORM FACTOR OF TWO-WAY RADIOS

KUALA LUMPUR, March 6 (Bernama) -- Hytera Communications, a global provider of professional communications technologies and solutions, has introduced its latest innovation, the S Series business two-way radios.

Hytera in a statement said this groundbreaking product line revolutionises the form factor of two-way radios, catering to small and midsize businesses (SMBs) with unparalleled versatility and style.

The newly launched S Series comprises the S1 mini, S1, and S1 Pro models, each boasting exceptional ergonomics, intuitive operation, and crystal-clear audio.

Backed by the company’s extensive user research, market insights, and engineering expertise, these models redefine the conventional design of radios and bring versatile functionalities for users from hospitality, retail and beyond.

The compact yet powerful S1 mini two-way radio with a size akin to a lipstick and sleek design, which ensures minimal intrusion and burden during the work shift, is tailored for businesses such as boutique stores, and restaurants. With flexible wearing options, users can clip it onto uniforms or wear it with a lanyard for added convenience.

Meanwhile, designed to meet the unique demands of the retail sector, the S1 elevates communication efficiency with its dual push-to-talk (PTT) buttons, which help retail staff talk with either of the two standby groups with manual selection.

Furthermore, the S1 Pro crafted for hotels and resorts, epitomises elegance and professionalism, is equipped with top-notch artificial intelligence-noise cancellation technology that ensures superior audio clarity in challenging scenarios.

With voice, video and data capabilities, Hytera provides faster, safer, as well as more versatile connectivity for business and mission critical users.

-- BERNAMA

AM BEST AFFIRMS PACIFIC INTERNATIONAL INSURANCE CREDIT RATINGS AS GOOD

KUALA LUMPUR, March 1 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb” (Good) of Australia’s Pacific International Insurance Pty Limited (Pacific).

The outlook of these credit ratings (ratings) is stable, reflecting Pacific’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

According to AM Best in a statement, these ratings also factor in a neutral impact from Pacific’s ultimate owner, Badger Mutual Wealth (Pty) Ltd (the Badger group), an insurance group domiciled in South Africa.

The company’s balance sheet strength assessment is underpinned by risk-adjusted capitalisation, which was at the strong level in fiscal-year ending June 30, last year, as measured by Best’s Capital Adequacy Ratio.

Prospective risk-adjusted capitalisation is expected to remain at least at the strong level over the medium term. However, Pacific’s capital adequacy remains sensitive to the successful execution of its business plan, which includes its performance targets and projected capital generation.

The credit rating agency views Pacific’s operating performance as adequate, with its operating performance exhibited a notable positive trend over the last five years, recording a five-year average return-on-equity ratio of negative 0.2 per cent (fiscal-years 2019-2023).

Following the Badger group’s acquisition in fiscal-year 2018, Pacific recorded elevated expenses due to significant investments in marketing and infrastructure. Nevertheless, as a result of increased operational scale and cost saving initiative in recent years, the company reported positive earnings in both fiscal-years 2022 and 2023.

Pacific’s net retained insurance portfolio predominantly consists of motor and a motor novated lease partnership with an insurance distributor, hence AM Best expects the company’s net underwriting growth to be elevated over the medium term, driven by pet cover and travel lines of business.

-- BERNAMA