KUALA LUMPUR, July 17 (Bernama) -- Triton Digital has bagged ExchangeWire’s The Wires APAC 2019 Best New Product or Service – Sell Side for their supply-side platform, Yield-Op.
Triton Digital is a global technology and services leader to the digital audio and podcast industry.
Yield-Op is a built-for-audio supply-side platform that enables broadcasters, podcasters and music streaming services to connect and manage their programmatic demand sources efficiently.
The platform also allows users to manage access, regulate pricing and establish ad quality settings in the a2x marketplace, as well as configure both open and private marketplace deals with specific buyers, brands or sales houses.
The Wires APAC recognises the best use of ad tech across all aspects of media sales and buying within the Asia Pacific region, including East Asia, Southeast Asia, South Asia, Australia and New Zealand.
ExchangeWire provides global data and insight on marketing and advertising technology, as well as programmatic advertising.
Various ad tech vendors, marketing automation providers, media buying agencies, trading desks, agency trading desks, advertisers and publishers have sent submissions for the award.
-- BERNAMA
Monday, July 29, 2019
Thursday, July 25, 2019
OKEx contributes US$4.5 million to strengthen cryptocurrency trading confidence
KUALA LUMPUR, July 25 (Bernama) -- OKEx has donated Bitcoin worth US$4.5 million to its perpetual swap market insurance fund to boost customer confidence in trading cryptocurrencies. (US$1=RM4.12)
In a statement, the world’s leading cryptocurrency exchange said the donation would provide an extra layer of protection to the customers, further ensuring that all customer interests were safeguarded.
OKEx Operations head, Andy Cheung said no clawback occurred on OKEx perpetual swap since its launch.
“We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximising trader benefits.”
OKEx’s world-leading crypto marketplace serves millions of users globally, offering hedging and arbitrage instruments, such as futures and perpetual swaps, to help traders optimise their trading strategies.
With a comprehensive security system, no major security issues, hacks and asset losses have ever taken place on OKEx.
-- BERNAMA
In a statement, the world’s leading cryptocurrency exchange said the donation would provide an extra layer of protection to the customers, further ensuring that all customer interests were safeguarded.
OKEx Operations head, Andy Cheung said no clawback occurred on OKEx perpetual swap since its launch.
“We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximising trader benefits.”
OKEx’s world-leading crypto marketplace serves millions of users globally, offering hedging and arbitrage instruments, such as futures and perpetual swaps, to help traders optimise their trading strategies.
With a comprehensive security system, no major security issues, hacks and asset losses have ever taken place on OKEx.
-- BERNAMA
Wednesday, July 24, 2019
AMINVESTMENT WON TOP HONOURS AT THE ASSET TRIPLE A ISLAMIC FINANCE AWARDS 2019
KUALA LUMPUR, July 24 (Bernama) -- AmInvestment Bank Berhad (“AmInvestment Bank”) receives further recognition from The Asset as they won six awards at The Asset Triple A Islamic Finance Awards 2019. The awards were presented at the Four Seasons Hotel in Kuala Lumpur on Thursday, 4 July 2019.
The full list of awards won by AmInvestment Bank is as follows:
1. Best Islamic Loan Adviser
2. Best Structured Finance Sukuk
MBSB Bank Berhad’s RM2.295 billion structured covered Sukuk facility
Our roles: Joint Solicitation Agent, Joint Principal Adviser, Joint Lead Arranger and Joint Lead Manager
3. Best Government-Guaranteed Sukuk
Pengurusan Air SPV Bhd’s RM2.1 million Government-Guaranteed Sukuk issuance
Our role: Joint Lead Manager
4. Best Corporate Hybrid Sukuk
Yinson TMC Sdn Bhd’s RM950 million perpetual sukuk issuance
Our roles: Joint Principal Adviser, Joint Lead Arranger, Joint Lead Manager and Joint Shariah Adviser.
5. Best Local Currency Sukuk
Cagamas Berhad’s RM1.5 billion Sukuk issuance
Our role: Joint Lead Manager
6. Best Islamic Project Finance Deal
DanaInfra Nasional Berhad’s RM2.5 billion Government-Guaranteed Sukuk issuance
Our role: Joint Lead Manager
Commenting on the awards, Seohan Soo, Chief Executive Officer, AmInvestment Bank said,”We thank our clients for their continued trust in AmInvestment Bank and we share these awards with them. These awards will spur us on to continue delivering customised and innovative investment banking solutions for our clients.”
“We’re delighted to be recognised once again by The Asset with six accolades that celebrate our position as a leading investment organization and underline our investment expertise. These achievements demonstrate our continuous commitment to provide the best investment solutions to our corporate, sovereign and institutional clients,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.
About AmBank Group
AMMB Holdings Berhad is the holding company of AmBank Group and has been listed on the Main Market of Bursa Malaysia since 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of around RM13.7 billion and assets of RM158.8 billion as at 31 March 2019.
AmBank Group is one of Malaysia’s premier financial solutions groups with over 43 years of experience in supporting Malaysians in their economic development. AmBank Group offers a wide range of both conventional and Islamic financial solutions and services, including wholesale banking, retail banking, investment banking, underwriting of general insurance, life assurance and takaful, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.
The Australia and New Zealand Banking Group (ANZ) is the biggest shareholder in the AmBank Group with a 23.8% holding and provides support with Board, risk and financial governance, product offerings and new business developments. In the general insurance business, the Group has partnered with Insurance Australia Group Ltd (IAG). In the life assurance and family takaful businesses, the Group has a partnership with MetLife International Holdings Inc (MetLife). The Group benefits in terms of expertise transfer from IAG and MetLife.
For more information, please visit www.ambankgroup.com
http://mrem.bernama.com/viewsm.php?idm=35070
The full list of awards won by AmInvestment Bank is as follows:
1. Best Islamic Loan Adviser
2. Best Structured Finance Sukuk
MBSB Bank Berhad’s RM2.295 billion structured covered Sukuk facility
Our roles: Joint Solicitation Agent, Joint Principal Adviser, Joint Lead Arranger and Joint Lead Manager
3. Best Government-Guaranteed Sukuk
Pengurusan Air SPV Bhd’s RM2.1 million Government-Guaranteed Sukuk issuance
Our role: Joint Lead Manager
4. Best Corporate Hybrid Sukuk
Yinson TMC Sdn Bhd’s RM950 million perpetual sukuk issuance
Our roles: Joint Principal Adviser, Joint Lead Arranger, Joint Lead Manager and Joint Shariah Adviser.
5. Best Local Currency Sukuk
Cagamas Berhad’s RM1.5 billion Sukuk issuance
Our role: Joint Lead Manager
6. Best Islamic Project Finance Deal
DanaInfra Nasional Berhad’s RM2.5 billion Government-Guaranteed Sukuk issuance
Our role: Joint Lead Manager
Commenting on the awards, Seohan Soo, Chief Executive Officer, AmInvestment Bank said,”We thank our clients for their continued trust in AmInvestment Bank and we share these awards with them. These awards will spur us on to continue delivering customised and innovative investment banking solutions for our clients.”
“We’re delighted to be recognised once again by The Asset with six accolades that celebrate our position as a leading investment organization and underline our investment expertise. These achievements demonstrate our continuous commitment to provide the best investment solutions to our corporate, sovereign and institutional clients,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.
About AmBank Group
AMMB Holdings Berhad is the holding company of AmBank Group and has been listed on the Main Market of Bursa Malaysia since 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of around RM13.7 billion and assets of RM158.8 billion as at 31 March 2019.
AmBank Group is one of Malaysia’s premier financial solutions groups with over 43 years of experience in supporting Malaysians in their economic development. AmBank Group offers a wide range of both conventional and Islamic financial solutions and services, including wholesale banking, retail banking, investment banking, underwriting of general insurance, life assurance and takaful, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.
The Australia and New Zealand Banking Group (ANZ) is the biggest shareholder in the AmBank Group with a 23.8% holding and provides support with Board, risk and financial governance, product offerings and new business developments. In the general insurance business, the Group has partnered with Insurance Australia Group Ltd (IAG). In the life assurance and family takaful businesses, the Group has a partnership with MetLife International Holdings Inc (MetLife). The Group benefits in terms of expertise transfer from IAG and MetLife.
For more information, please visit www.ambankgroup.com
http://mrem.bernama.com/viewsm.php?idm=35070
Alibaba.com opens platform to globally empower US businesses
KUALA LUMPUR, July 24 (Bernama) -- Alibaba.com, one of the world’s largest B2B e-commerce marketplaces has opened its platform to empower United States (US) businesses to sell their products to millions of Alibaba.com buyers in the US and globally.
Currently, nearly 30 million small and medium-sized businesses (SMBs) in the US, including manufacturers, wholesalers and distributors are able to access the US$23.9 trillion global B2B e-commerce market, an opportunity that is six times larger than the global B2C e-commerce market.
“With 10 million active business buyers in over 190 countries and regions, we are reshaping B2B commerce by providing the tools and services needed for US SMB companies to compete and succeed in today’s global marketplace,” said Alibaba Group, head of North America B2B, John Caplan.
Alibaba.com is also unveiling an enhanced ecosystem of participants which include anchor sellers and B2B service providers who share the company’s mission to make it easier for SMBs to do business.
The company is also co-producing a series of ‘Build Up’ workshops and webinars with local chambers of commerce and B2B organisations across the country, including SCORE, one of the nation’s largest non-profit networks of volunteer, expert business mentors.
Launched in 1999, Alibaba.com is a business unit of Alibaba Group, which is engaged in services covering all aspects of commerce. For more information, contact https://www.alibaba.com.
-- BERNAMA
Currently, nearly 30 million small and medium-sized businesses (SMBs) in the US, including manufacturers, wholesalers and distributors are able to access the US$23.9 trillion global B2B e-commerce market, an opportunity that is six times larger than the global B2C e-commerce market.
“With 10 million active business buyers in over 190 countries and regions, we are reshaping B2B commerce by providing the tools and services needed for US SMB companies to compete and succeed in today’s global marketplace,” said Alibaba Group, head of North America B2B, John Caplan.
Alibaba.com is also unveiling an enhanced ecosystem of participants which include anchor sellers and B2B service providers who share the company’s mission to make it easier for SMBs to do business.
The company is also co-producing a series of ‘Build Up’ workshops and webinars with local chambers of commerce and B2B organisations across the country, including SCORE, one of the nation’s largest non-profit networks of volunteer, expert business mentors.
Launched in 1999, Alibaba.com is a business unit of Alibaba Group, which is engaged in services covering all aspects of commerce. For more information, contact https://www.alibaba.com.
-- BERNAMA
AM BEST REVISES OUTLOOKS TO POSITIVE FOR DPL INSURANCE LIMITED
SINGAPORE, July 22 (Bernama-BUSINESS WIRE) -- AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of DPL Insurance Limited (DPL) (New Zealand).
The ratings reflect DPL’s balance sheet strength, which AM Best categorizes as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also factor in a neutral impact from the company’s ultimate ownership by Turners Automotive Group Limited (Turners), a motor vehicle retailer and financial services group in New Zealand.
The positive outlooks reflect an improving trend in DPL’s balance sheet fundamentals, including risk-adjusted capitalization and the size of the company’s absolute capital base. These factors, coupled with AM Best’s expectation of controlled growth and robust underwriting performance over the medium term, could lead to positive rating actions.
The company’s balance sheet strength assessment is underpinned by risk-adjusted capitalization that reached the strongest level in fiscal year 2019, as measured by Best’s Capital Adequacy Ratio (BCAR). A partially offsetting balance sheet factor remains the significant volume of intangible assets created as part of the company’s acquisition of Autosure’s business in 2017; this includes goodwill items relating to the brand name and agency relationships.
DPL has a track record of adequate operating performance, as evidenced by a five-year average return on equity ratio of 6.9% (fiscal years 2015 to 2019). The company’s combined ratio improved to 96% in fiscal year 2019 (fiscal year 2018: 103%), reflecting lower vehicle repair and spare part costs, as well as the positive impact of recent product pricing adjustments. In addition, following the Autosure acquisition, the company saw a reduction in its expense ratio as a result of greater economies of scale. Going forward, AM Best expects improved underwriting performance to support a greater balance of overall earnings.
AM Best views the company’s business profile as limited given its niche and small scale of operations. In addition, DPL’s core lines of business, including mechanical breakdown insurance for motor vehicles in New Zealand, remain subject to competitive market conditions and a general slowdown in car sales. Despite this, DPL’s ownership and affiliation with its parent, Turners, which is the largest retailer of motor vehicles in New Zealand, provides good access to business and creates a valuable distribution network.
AM Best considers DPL’s approach to risk management to be appropriate given the size and complexity of its current operations. DPL also is viewed to benefit from a level of risk management oversight and governance from the Turners group.
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 Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
http://mrem.bernama.com/viewsm.php?idm=35050
The ratings reflect DPL’s balance sheet strength, which AM Best categorizes as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also factor in a neutral impact from the company’s ultimate ownership by Turners Automotive Group Limited (Turners), a motor vehicle retailer and financial services group in New Zealand.
The positive outlooks reflect an improving trend in DPL’s balance sheet fundamentals, including risk-adjusted capitalization and the size of the company’s absolute capital base. These factors, coupled with AM Best’s expectation of controlled growth and robust underwriting performance over the medium term, could lead to positive rating actions.
The company’s balance sheet strength assessment is underpinned by risk-adjusted capitalization that reached the strongest level in fiscal year 2019, as measured by Best’s Capital Adequacy Ratio (BCAR). A partially offsetting balance sheet factor remains the significant volume of intangible assets created as part of the company’s acquisition of Autosure’s business in 2017; this includes goodwill items relating to the brand name and agency relationships.
DPL has a track record of adequate operating performance, as evidenced by a five-year average return on equity ratio of 6.9% (fiscal years 2015 to 2019). The company’s combined ratio improved to 96% in fiscal year 2019 (fiscal year 2018: 103%), reflecting lower vehicle repair and spare part costs, as well as the positive impact of recent product pricing adjustments. In addition, following the Autosure acquisition, the company saw a reduction in its expense ratio as a result of greater economies of scale. Going forward, AM Best expects improved underwriting performance to support a greater balance of overall earnings.
AM Best views the company’s business profile as limited given its niche and small scale of operations. In addition, DPL’s core lines of business, including mechanical breakdown insurance for motor vehicles in New Zealand, remain subject to competitive market conditions and a general slowdown in car sales. Despite this, DPL’s ownership and affiliation with its parent, Turners, which is the largest retailer of motor vehicles in New Zealand, provides good access to business and creates a valuable distribution network.
AM Best considers DPL’s approach to risk management to be appropriate given the size and complexity of its current operations. DPL also is viewed to benefit from a level of risk management oversight and governance from the Turners group.
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 Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
http://mrem.bernama.com/viewsm.php?idm=35050
Tuesday, July 23, 2019
IMMERSE YOURSELF IN AN E-SPORTS EXTRAVAGANZA AT THE E-SPORTS & MUSIC FESTIVAL IN HONG KONG
HONG KONG, July 22 (Bernama-BUSINESS WIRE) -- This summer, visitors to Hong Kong can enjoy a host of gourmet happenings, shopping sprees, signature city events, and attractions’ summer programmes. Attending a large scale e-sports event is one of the must-do activities to enjoy a vibrant summer, especially for those who are young or young at heart. Organised by the Hong Kong Tourism Board (HKTB), the third edition of e-Sports & Music Festival Hong Kong, presented by Cyberport, will be staged from 26 to 28 July (Friday to Sunday) in the Hong Kong Convention and Exhibition Centre (HKCEC), with more exciting new elements and entertainment options than ever.
http://mrem.bernama.com/viewsm.php?idm=35051
http://mrem.bernama.com/viewsm.php?idm=35051
Monday, July 22, 2019
MADISON REALTY CAPITAL PROVIDES $225 MILLION CONSTRUCTION LOAN ON THE RESIDENCES AT MANDARIN ORIENTAL, BOCA RATON
NEW YORK, July 18 (Bernama-GLOBE NEWSWIRE) -- Madison Realty Capital has provided a $225 million construction loan on The Residences at Mandarin Oriental, Boca Raton, a planned 12-story, 580,000-square-foot luxury condominium tower in Boca Raton, Florida.
The financing will allow owner/developer Penn-Florida Companies to complete the 12-story, 288,000 saleable-square-foot luxury condominium tower with an additional 22,000 square feet of retail. This will be the third and final tower at the 2 million-square-foot Via Mizner resort, a world-renowned resort destination in the heart of the internationally-recognized Southeast Florida community.
http://mrem.bernama.com/viewsm.php?idm=35032
The financing will allow owner/developer Penn-Florida Companies to complete the 12-story, 288,000 saleable-square-foot luxury condominium tower with an additional 22,000 square feet of retail. This will be the third and final tower at the 2 million-square-foot Via Mizner resort, a world-renowned resort destination in the heart of the internationally-recognized Southeast Florida community.
http://mrem.bernama.com/viewsm.php?idm=35032
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