Nanboya begins painting and wall hanging purchases in Singapore

KUALA LUMPUR, Dec 28 -- Valuence International Singapore Pte Ltd, a member of the Valuence Group, has announced that luxury brand goods purchasing business Nanboya will begin purchasing paintings and wall hangings on Dec 28.

With this new initiative in Singapore, the Nanboya brand will consider the purchase of antiques and art works at other overseas locations in the future, according to a statement.

Valuence International Singapore’s Nanboya luxury brand goods purchasing business operates two locations in Singapore, where the second-hand goods and reuse industry is already well established.

Nanboya concierges (appraisers) have a wealth of knowledge across a wide range of product categories, providing in-depth explanations and polite customer service that emphasizes dialogue with customers.

In October 2021, Nanboya began an in-home purchasing service, which allows customers to sell their items from the comfort of their homes. This service is designed to meet the needs of customers who find it difficult to visit purchasing offices in person for various reasons.

Aiming for the global expansion of the antiques market, Nanboya is launching its antiques purchasing business model for the first time outside Japan, beginning with Singapore.

Nanboya will begin antiques purchasing in Singapore, starting with paintings and wall hangings. Next, the company will set its sights on new categories that reflect the needs of the local community. Customers can choose from in-office or in-home services. Local staff will be available to respond to any customer needs.

-- BERNAMA

INNIO Waukesha to receive fund for emissions reduction technology demonstration project

KUALA LUMPUR, Dec 22 -- INNIO Waukesha Gas Engines announced that it has been selected to receive more than US$2.2 million in funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). (US$1 = RM4.205)

The funding is part of ARPA-E’s “Reducing Emissions of Methane Every Day of the Year” (REMEDY) programme that was unveiled earlier this year.

According to a statement, the programme aims to reduce emissions in the oil, gas, and coal industries and promote innovation and manufacturing of new technologies to achieve climate goals.

In support of the United States’ emissions reduction plans announced at the 2021 United Nations Climate Change Conference (COP26), ARPA-E announced 12 funding awards totaling US$35 million to develop and demonstrate technologies aimed at cutting greenhouse gas emissions in the oil, gas, and coal sectors.

INNIO Waukesha received funding for its proposed project that is focused on developing a new line of pistons.

“We believe a critical path to a cleaner energy future is providing carbon reducing enhancements for installed assets that will lead to an extended life and investment security,” said president and chief executive officer of INNIO, Dr Olaf Berlien.

“We are pleased that ARPA-E has recognised that our carbon reduction research may yield an impactful carbon reduction approach for both new and installed engines everywhere.”

INNIO Waukesha’s REMEDY funding will be spread across two stages of the programme over three years.

Stage 1 is planned to focus on lab-based tests confirming the operability of technical proposals, approaches, and system component, while Stage 2 will expand the scale of testing, and ideally include field tests. The new technology aims to meet the REMEDY goal of 99.5 per cent Methane destruction.

More details at www.innio.com.

-- BERNAMA

PRIME ACES LIMOUSINE OFFERS FREE AIRPORT DEPARTURE TRANSFER FOR CUSTOMERS WHO BOOK PCR TEST

KUALA LUMPUR, Dec 22 (Bernama) -- As the world slowly opens its borders, travelling has once again become an exciting possibility for many of us in Singapore. But with COVID-19 posing unwavering safety threats and concerns, the need to stay vigilant is still dire.

That is why Prime Aces Limousine has partnered up with Trinity Medical & Aesthetic Clinic (TMAC), an official Polymerase Chain Reaction (PCR) test provider that’s been approved by the Ministry of Health.

As a way to celebrate its partnership with TMAC, Prime Aces Limousine is offering 100 customers a complimentary airport departure transfer when they book a home-based pre-departure test.

In a day and age where everyone is busy, this hassle-free option is perfect for those pressed for time. Certified swabbers will arrive at your doorstep on the day of the appointment, so the PCR test will be conducted from the comforts of your own home.

To ensure everyone’s safety, the TMAC swabbers will don their personal protective equipment before stepping into your home. You are not required to physically collect your test results and a digitised copy will be emailed to you within 24 hours.

Founded by Lim Zhi Min, Prime Aces Limousine strives to be the best limousine service provider in Singapore. It renders transportation and transfer services including for events, conferences, summits, and airport departures to its clients.

-- BERNAMA

TDCX declares US$188 million debt repayment

KUALA LUMPUR, Dec 21 -- TDCX Inc (TDCX or the Company) has announced it has fully repaid the total outstanding principal amount of US$188 million and accrued and unpaid interest and premium, if any, under its term loan credit facility entered into with Credit Suisse AG, Singapore Branch, and completed relevant documentation. (US$1 = 4.223)

“Following our recent successful listing, the repayment of this outstanding debt signifies another step in further strengthening our financial position. This provides us with a strong foundation to continue to drive the growth of TDCX moving forward,” said Chief Financial Officer of TDCX, Chin Tze Neng in a statement.

TDCX Inc is a high-growth digital customer experience solutions provider for innovative technology and other blue-chip companies. The Company offers omnichannel CX solutions, sales and digital marketing services and content monitoring and moderation services.

TDCX has an international footprint with offices in Singapore, the Philippines, Malaysia, Thailand, China, Japan, Spain, India, Colombia and Romania, and services its clients’ customers globally in more than 20 languages.

More details at www.tdcx.com.

-- BERNAMA

PRESTIGE BIOPHARMA BEGINS INNOVATIVE DISCOVERY CENTER CONSTRUCTION IN BUSAN, SOUTH KOREA

KUALA LUMPUR, Dec 20 (Bernama) -- Prestige BioPharma Limited (PBP), a Singapore-based biopharmaceutical with operations in the USA and South Korea, commences construction of Innovative Discovery Center (IDC) in Busan, South Korea, scheduled for completion by February 2023.

PBP holds a groundbreaking ceremony on Dec 21, 2021 with Korean government officials and guests including Deputy Mayor of Busan City, Yoon-il Kim, Director General for Investment Policy of the Ministry of Trade, Industry and Energy, Jong-young Jung and Head of Development Administration Division in Busan-Jinhae Free Economic Zone Authority (BJFEZ), Seokho Cha.

PBP is on target to build the global-scale R&D centre with a total area of approximately 34,000 square metres and facilities sufficient for 800 researchers. Earlier in May this year, PBP and Busan City Government had signed an MOU for the establishment of IDC in which the company’s plan to invest over US$200 million by 2030 was announced. (US$1 = RM4.227)

IDC will be focusing on diverse first-in-class antibody biologics discovery starting from eight bispecific antibody projects based on PBP’s proprietary oncology therapeutic targets, PAUF and CTHRC1. Next generation vaccines using mRNA technologies and bioinformatics will be developed in IDC for current and potential future pandemics.

IDC will also be hiring more than 250 of PhD and highly qualified R&D personnel over the next five years and 50 per cent of its R&D resources will be sourced from local universities and community.

As the first global scale R&D centre in Busan, IDC is expected to lead the growth of Busan’s bioindustry and lay a foundation to make the region into a viable bio-cluster that supports the local economy and drives mutual growth in academia and industry.

In a statement, PBP’s CEO, Dr Lisa S. Park said: “IDC will be leading PBP Group’s innovative drug discovery R&D in connection with our research centres in Singapore and US and creating a global open innovation hub for industry-academic collaboration” and “we envision IDC where Prestige Biopharma’s innovation realises and the start of a new world-class bio-cluster here in Busan”.

Hyeong-joon Park, Mayor of Busan City, commented: “We are very excited to have a global scale bio-R&D centre in Busan and work with a global leading bio-pharmaceutical company, Prestige Biopharma.

“Busan City will fully support PBP’s IDC so this novel partnership can lead a local bio-industry’s growth and contribute to local economic development and high-quality job creation”.

-- BERNAMA

AG&P City Gas secures US$120 Million Osaka Gas, JOIN equity investment

KUALA LUMPUR, Dec 20 -- Atlantic, Gulf & Pacific International Holdings (AG&P), a leading downstream LNG platform and infrastructure development company, has announced that Osaka Gas Co Ltd, through its affiliate Osaka Gas Singapore Pte Ltd and JOIN (Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development), have reinforced their commitment to AG&P by investing up to US$120 million in AG&P CGD HoldCo SPV3 (Singapore) Pte Ltd (AG&P City Gas), a Singapore-based company that is developing 12 city gas distribution networks, or concessions, in India under the brand name AG&P Pratham. (US$1 = RM4.227)

The new equity will be used to continue to execute AG&P City Gas’s build-out of its 12 exclusive concessions in South India and Rajasthan, according to a statement.

The AG&P network is expanding daily to reach millions of people with clean fuel, including compressed natural gas (CNG) for their vehicles and piped natural gas (PNG) in their homes as well as provide fuel for large and small industrial and commercial customers.

Osaka Gas is a leading energy company and the second largest gas supplier in Japan with a history going back more than one century. The Osaka-headquartered company serves around five million natural gas customers in the Kansai region.

“We strongly believe that our investment in AG&P City Gas will provide Osaka Gas with a valuable asset. We look forward to developing it into one of our core businesses in Asia. With exclusive rights for a vast swath of southern India, roughly equivalent to three-quarters of the area of Japan, these 12 concessions are expected to generate over time a demand of 3.5 billion m3 in gas sales volume, or approximately 50 per cent of Osaka Gas’ recorded gas sales volume last year on a non-consolidated basis,” said Katz Sato, Senior General Manager, Asia Energy Business Department for Osaka Gas.

JOIN, a Japanese government-private sponsored infrastructure investment fund company with a market cap of US$1.4 billion as of June 2021, received approval from the Minister of Land, Infrastructure, Transport and Tourism of Japan to invest in AG&P City Gas to support Osaka Gas’s ongoing collaboration with AG&P in expanding its overseas businesses.

“We, alongside Osaka Gas, are excited to participate in the future of AG&P and to expedite the roll-out of these vital gas network, LNG storage and transportation solutions being built in India by AG&P City Gas,” said Toshiyuki Suzuki, Managing Executive Officer and Head of the Project Department for JOIN.

“As an existing investor in AG&P’s parent, Osaka Gas has continued to demonstrate its support for AG&P’s downstream LNG and natural gas business. 

“We are honored to welcome JOIN. The stability and strength of JOIN and the technical and commercial expertise of Osaka Gas and its long history in city gas will accelerate the smart deployment of our network across our concessions in India,” said Joseph Sigelman, Chairman and CEO of AG&P.

-- BERNAMA

FASTLY LAUNCHES ORIGIN-TO-EDGE REAL-TIME VISIBILITY PRODUCT, ORIGIN INSPECTOR

KUALA LUMPUR, Dec 17 (Bernama) -- Fastly Inc, a global edge cloud network provider, has announced the launch of Origin Inspector, an origin-to-edge real-time visibility product accessible via Fastly’s user interface and API.

Uptime and reliability are mission-critical for any company with a digital presence, especially for large enterprises delivering online experiences at global scale.

Fastly’s Origin Inspector enables businesses to proactively identify origin performance issues, empowering companies to take speedy and effective corrective actions to minimise downtime.

In a statement, Fastly Chief Product Architect, Sean Leach said: “With Origin Inspector, we’ve made it possible for businesses to really see what’s going on behind the scenes – whether they are single origin, multi-cloud, or multi-CDN – without requiring any complicated configurations.

“A lack of visibility into these bytes, origin responses and more can be the difference between massive success and costly business failures.

“We’re thrilled to make Origin Inspector available to customers, especially for those who do not have the resources to configure powerful tools like this themselves.”

Origin Inspector, the latest initiative among Fastly’s offerings in support of logging, metrics, and tracing for greater observability, has simplified data pipelines and visualisations empowering customers to make more informed business decisions with quantifiable origin infrastructure and egress cost savings.

Within the Fastly user interface, customers will now have an easy-to-use way to monitor origin responses, bytes, status codes, and more without needing to send log data to a third-party data collector.

For more information, visit https://www.fastly.com.

-- BERNAMA

EVA AIR AND POINTS ENTER INTO A MULTI-YEAR PARTNERSHIP TO ENHANCE INFINITY MILEAGELANDS PROGRAM

New loyalty solutions will increase member engagement and generate revenue uplift for EVA Air’s loyalty program

TORONTO, Dec 16 (Bernama-GLOBE NEWSWIRE) -- Award-winning, Taiwanese carrier, EVA Air, and global leader in loyalty commerce, Points (Nasdaq: PCOM) (TSX: PTS), have entered into a new multi-year collaboration to introduce a series of member benefits that will increase customer engagement and generate additional ancillary revenue streams for the carrier via the Infinity MileageLands program.

The partnership began November 11, 2021 with the introduction of Purchase Miles, which leverages Points’ Buy solution and enables customers to get to their rewards sooner by buying additional miles at a preferential rate. A series of additional loyalty solutions designed to offer members even more utility and value when accruing miles will be introduced in 2022.

EVA Air is also leveraging Points’ industry-leading loyalty marketing expertise and data-driven insights to develop personalized campaigns to the Infinity MileageLands membership base which is expected to drive additional growth for the program.

“EVA Air is glad to collaborate with Points and Collinson and to create various loyalty programs, allowing our members to accumulate miles more easily and get better value from their online purchase,” said EVA President Clay Sun. “By leveraging the 2 partners’ expertise, EVA can extend the loyalty programs into our members’ daily life and increase their engagement opportunities. We are excited about the new programs and the added benefits for our members.”

A further addition as part of the new partnership is EVA Mileage Mall, a market-leading, earning platform powered by Collinson Valuedynamx. Customers can shop their favourite brands online and earn additional miles that are credited to their membership accounts via an integration with Points’ Loyalty Commerce Platform. 

http://mrem.bernama.com/viewsm.php?idm=41954

Uniphore-Cisco collaboration to enable better customer experiences

KUALA LUMPUR, Dec 15 -- Uniphore, the leader in Conversational Automation, announced it has joined Cisco SolutionsPlus, an industry-leading partner program that helps enterprise buyers design and implement complete end-to-end customer solutions.

“Cisco has been delivering solutions for enterprise business challenges for decades and we’re really pleased to be part of their ecosystem,” said Chief Executive Officer and Co-founder of Uniphore, Umesh Sachdev.

“Being a part of Cisco’s SolutionsPlus Program further validates the value our conversational automation platform brings to businesses in a wide range of industries. We are thrilled to continue working closely with Cisco, a partner, supporter, and recent investor.”

Through Cisco’s SolutionsPlus Program, Cisco’s customers and channel partners can purchase Uniphore’s conversational automation products to enable more efficient, frictionless and secure conversations between customer service agents and customers. 

For Cisco partners, this means they can resell and upsell, bringing additional customer experience innovation and value to their customers, according to a statement.

In addition to joining Cisco’s SolutionsPlus Program, the companies continue their work on developing new capabilities in AI, conversational automation, and real-time call and sentiment analysis.

These types of advances are transforming customer experience across contact centres for global enterprises.

Cisco Investments participated in Uniphore’s Series D round in March 2021. The investment supports the development of new capabilities in AI, conversational automation, and real-time call and sentiment analysis.

-- BERNAMA

2021 REPRESENTATIVE BRANDS OF KOREAN WAVE REVEALED - BRANDSTARS

KUALA LUMPUR, Dec 17 (Bernama) -- The representative brands for each category of 2021 Representative Brands of Korean Wave hosted by Korea and China BRANDSTARS have been announced.

This event to select and announce the brands concurrently through major media outlets in China and Southeast Asia is aimed at assisting in consumer choice by providing accurate information to consumers.

As the brands to represent each industry, Samsung Electronics’ Samsung Galaxy Z Fold3 and Z Flip3, Hyundai Motor Company’s IONIQ 5, LG Electronics’ OLED TV and TROMM, and Dong-A Pharm’s Bacchus were selected.

Among the categories announced, the shopping category saw Lotte Department Store and The Shilla Duty Free selected again this year, while in the entertainment category, BTS and Squid Game, which are leading the popularity of K-pop and K-drama respectively, were chosen.

In the tourism and performance categories, Jeju Special Self-Governing Province and Jeju Sky Water Show were picked respectively, according to a statement.

In addition, Amorepacific’s Sulwhasoo and LG Household and Health Care’s The History of Whoo were selected in the category under K-beauty cosmetics and Olive Young was chosen for the category of health and beauty shop. 

Meanwhile, in the home beauty device, new trend beauty, and cosmetics container categories, LG Pra.L MEDI HAIR, Ymir, and Minjin Eco-Pump were singled out, respectively.

The most popular K-food brands were CJ CheilJedang’s Bibigo, Binggrae’s Banana Flavored Milk, Nongshim’s Chapaghetti, Ottogi’s Jin Ramen, Paris Baguette, and ISAAC TOAST. 

The companies and brands selected again this year following last year are Amorepacific, LG Household and Health Care, Samsung Electronics, LG Electronics, Hyundai Motor Company, and, BTS, among others.

-- BERNAMA

Leena AI listed Representative Vendor in Gartner Market Guide

KUALA LUMPUR, Dec 16 -- Leena AI, the company that’s revolutionising enterprise employee experience, announced it was listed as a Representative Vendor in 2021 Gartner’s Market Guide for Integrated HR Service Management Solutions for the second consecutive year.

“We are pleased to be recognised in Gartner’s report for helping businesses streamline their employee workflows. Our AI-led innovation automates HR processes, thereby enabling enterprises to deliver great employee experiences across different functional areas. 

“Leena AI’s inclusion in the market guide further validates our position at the forefront of the HR-tech ecosystem,” said co-founder and chief executive officer of Leena AI, Adit Jain, in a statement.

According to Gartner, “Integrated HR service management (IHRSM) solutions have the ability to manage end-to-end workflows for work and life transitions. In addition, by 2024, 70 per cent of organisations with more than 2,500 employees will have invested in an IHRSM solution.”

Founded in 2018, Leena AI plays well with 100 plus platforms, including SAP SuccessFactors, ADP, Oracle, Workday and Microsoft Office 365, and over 200+ customers, including companies like Nestle, Puma, and AirAsia.

More details at https://leena.ai.

-- BERNAMA

UNIPHORE COLLABORATES WITH CISCO TO ENABLE BETTER CUSTOMER EXPERIENCES

Uniphore joins Cisco SolutionsPlus Partner Program

PALO ALTO, Calif., Dec 15 (Bernama-BUSINESS WIRE) -- Uniphore, the leader in Conversational Automation, announced today that it has joined Cisco SolutionsPlus, an industry-leading partner program that helps enterprise buyers design and implement complete end-to-end customer solutions.

Through Cisco’s SolutionsPlus Program, Cisco’s customers and channel partners can purchase Uniphore’s conversational automation products to enable more efficient, frictionless and secure conversations between customer service agents and customers. For Cisco partners, this means they can resell and upsell, bringing additional customer experience innovation and value to their customers.

In addition to joining Cisco’s SolutionsPlus Program, the companies continue their work on developing new capabilities in AI, conversational automation, and real-time call and sentiment analysis. These types of advances are transforming customer experience across contact centers for global enterprises.

For example, Uniphore’s innovative AI technology dramatically reduces agent aftercall work time, by up to 80% in many cases. Currently, Uniphore’s innovative U-Assist After Call Work solution has been validated as "Cisco Compatible" on Cisco Systems Global Price List (GPL).

“Cisco has been delivering solutions for enterprise business challenges for decades and we’re really pleased to be part of their ecosystem,” said Umesh Sachdev, CEO and Co-founder, Uniphore. “Being a part of Cisco’s SolutionsPlus Program further validates the value our conversational automation platform brings to businesses in a wide range of industries. We are thrilled to continue working closely with Cisco, a partner, supporter, and recent investor.” 

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6 FINALISTS OF 2021 TOMMY HILFIGER FASHION FRONTIER CHALLENGE REVEALED

KUALA LUMPUR, Dec 14 (Bernama) -- Tommy Hilfiger, owned by PVH Corp. has announced the six finalists of the 2021 Tommy Hilfiger Fashion Frontier Challenge, who were carefully selected from over 430 applications received from startups and scaleups globally.

The six finalists, namely Clothes to Good: South African-based social enterprise; Haelixa: Switzerland-based product traceability technology; MAFI MAFI: Ethiopia-based sustainable fashion brand; Lalaland: Netherlands-based platform; SOKO: Kenya-based jewelry business; and, UZURI K&Y: Rwandan-based eco-friendly shoe brand.

“The Tommy Hilfiger Fashion Frontier Challenge embodies our long-standing mission to harness the power of fashion to foster inclusivity, representation and change,” said Tommy Hilfiger in a statement.

Building on Tommy Hilfiger’s sustainability vision to Waste Nothing and Welcome All, the third edition of the programme strives to continue amplifying and supporting black, indigenous and people of colour (BIPOC) entrepreneurs who are working to advance their communities, while fostering a more inclusive future of fashion.

With the need to drive impact in the industry more important than ever, the third year of the Tommy Hilfiger Fashion Frontier Challenge was done completely virtual to overcome the ongoing restrictions and challenges of the COVID-19 pandemic.

Over a multi-step year-long process, applications were thoroughly reviewed by internal and external experts based on a dedicated set of criteria including potential social impact and market growth. 

The six finalists will pitch their business ideas to a jury panel consisting of business and sustainability leaders at the virtual global Tommy Hilfiger Fashion Frontier Challenge final event on Jan 12-13, 2022.

The jurors overseeing the final event include Tommy Hilfiger; Martijn Hagman, CEO, Tommy Hilfiger Global and PVH Europe; and, Yara Shahidi, award-winning actress, producer and change agent.

Arooj Aftab, content creator, illustrator, writer and founder of #DonewithDiversity, will host the final event where the jury will award €200,000 to be split between two chosen winners in order to support their ventures. (€1 = RM4.769)

-- BERNAMA

ADAGIO THERAPEUTICS PROVIDES UPDATE FOLLOWING EXTERNAL IN VITRO ANALYSES

KUALA LUMPUR, Dec 15 (Bernama) -- Adagio Therapeutics Inc, a clinical-stage biopharmaceutical company, has provided an update following external in vitro analyses to evaluate neutralising activity of ADG20 against the Omicron SARS-CoV-2 variant.

The in vitro data generated through both authentic and pseudovirus testing of the Omicron variant show a greater than 300-fold reduction in neutralising activity of ADG20 against Omicron, according to a statement.

Additional analyses are ongoing, and the company plans to engage with regulatory and government agencies to assess the role ADG20 can play for the prevention and treatment of COVID-19, particularly as the industry’s understanding of the epidemiology and impact of Omicron and potential new variants develops.

“Due to the highly conserved and immunorecessive nature of the epitope recognised by ADG20, we anticipated that ADG20 would retain neutralising activity against Omicron, consistent with activity observed in in vitro models with all other known variants of concern,” said Tillman Gerngross, Ph.D., chief executive officer of Adagio.

ADG20 is an investigational monoclonal antibody (mAb) product candidate designed to provide broad and potent neutralising activity against SARS-CoV-2, including variants of concern, for the prevention and treatment of COVID-19 with potential duration of protection for up to one year with a single injection.

In previously disclosed in vitro studies, ADG20 retained activity against prior variants of concern including Alpha, Beta, Delta and Gamma.

In addition, in vitro data demonstrated retained neutralising activity of ADG20 against a diverse panel of circulating SARS-CoV-2 variants, including the Lambda, Mu and Delta plus variants.

The safety and efficacy of ADG20 have not been established, and ADG20 is not authorised or approved for use in any country. Adagio is currently evaluating ADG20 in global Phase 2/3 clinical trials for both the prevention and treatment of COVID-19.

More details at www.adagiotx.com.

-- BERNAMA

NIPPON EXPRESS ENGAGES IN 4TH CHINA INTERNATIONAL IMPORT EXPO

KUALA LUMPUR, Dec 14 (Bernama) -- Nippon Express Co Ltd participated in the 4th China International Import Expo (CIIE) held in Shanghai, China, over a six-day period ending Nov 10, taking part in CIIE for the fourth time in as many years.

The inaugural CIIE was held in November 2018 as a general trade show focusing exclusively on imports to China.

Joining in this year's fourth Expo were approximately 2,900 companies, and the venue welcomed a cumulative total of 480,000 visitors during the event, according to a statement.

The Company's exhibition booth introduced Nippon Express's global network and air and ocean cargo forwarding services that constitute its particular strengths, as well as its pharmaceutical logistics platform, green (eco-friendly) logistics and digitalisation initiatives.

The Group company Nippon Express (Shanghai) Co Ltd provided logistical support to the Expo, conveying exhibited products in and out of the venue for the 83 companies participating in the Japan Pavilion and coordinating with the organisers and official forwarders.

The Group will continue utilising its global network and advanced logistics know-how it has accumulated to address logistics issues faced by customers in the East Asia region and support their business expansion.

More details at http://www.nipponexpress.com/

-- BERNAMA

GLOBAL CONSUMER RIDE SHARING SPEND TO EXCEED US$930 BILLION BY 2026 - JUNIPER RESEARCH

KUALA LUMPUR, Dec 13 (Bernama) -- A new study by Juniper Research has found ride sharing spending by consumers globally will exceed US$930 billion, come 2026, comparable to 50 times the combined annual revenue of Transport for London, New York City’s MTA, and Beijing Metro in 2021. (US$1 = RM4.210)

This spend represents an increase from US$147 billion in 2021 and total growth of 537 per cent over the next five years, according to a statement.

The concept of ride sharing involves users accessing single-occupancy and shared carpool-style services provided by private drivers operating their own vehicles; coordinated by platforms such as Lyft and Uber.

The research identified consumers in the US and China as leading global spend on ride sharing services; accounting for 65 per cent of market value in 2026. It highlighted future government initiatives to reduce private vehicle usage in cities, allied with a strong pandemic recovery, as key to these countries’ positions as leaders.

However, the new report, Ride Sharing: Value Chain Analysis, Market Size & Forecasts 2012-2026, cautioned that only 13 per cent of consumers are set to use carpool-style ride sharing services in 2026, with the remainder opting for single-occupancy services; reflecting that the majority of consumers are willing to pay a premium for the privilege of travelling alone.

It noted while this is understandable given the ongoing pandemic, the emissions generated by single-occupancy services mean platforms must explore non-financial incentives to drive adoption of carpool services. This could include collaborating with city authorities to allow carpool vehicles to use public transport-only lanes, to make these services attractive in terms of both cost and efficiency.

Research author Adam Wears explained: “There are multiple strategies ride sharing platforms must leverage to drive adoption of carpool services, but these will need to be implemented carefully to avoid the perception of prioritising carpool users over non-carpool ones.”

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF BAO MINH INSURANCE CORPORATION

SINGAPORE, Dec 10 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Bao Minh Insurance Corporation (BMI) (Vietnam). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect BMI’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also factor in a neutral impact from the company’s majority ownership by the State Capital Investment Corporation (SCIC), which is the sovereign wealth fund of Vietnam.

BMI’s balance sheet strength assessment is underpinned by its 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). Capital adequacy remains sufficient to support planned business growth despite limited capital generation over recent years. AM Best views BMI’s investment portfolio to be of moderate risk. Whilst the majority of investments are allocated toward term deposits, the company maintains a portion of its investments in higher risk assets including non-rated corporate bonds, real estate, a joint venture and other equity investments. BMI also maintains a basic approach to asset liability management despite some exposure to longer-duration products within its business mix.

AM Best views the company’s operating performance as adequate, as demonstrated by a five-year average return-on-equity ratio of 8.3% (2016-2020). BMI has generated underwriting profits consistently in recent years, although its high expense ratio continues to be an offsetting factor to the company’s underwriting performance. Claims experience were more favourable in 2020 compared with 2019, supported by a lower loss ratio in motor, personal accident and health insurance. However, the expense ratio has increased as more business was sourced through its higher cost distribution channels. Investment returns are expected to remain constrained over the near term given prevailing low domestic interest rates. Prospectively, BMI plans to review its allocation to domestic fixed income securities for investment yield enhancement.

AM Best assesses BMI’s business profile as neutral. BMI is ranked as the fourth-largest non-life insurer in Vietnam based on 2020 gross premiums written, although its market share has shown a gradual reduction over the years. BMI’s underwriting portfolio is viewed as diversified by line of business although the company has a single-market concentration to Vietnam. BMI’s business profile benefits from a level of business referral from its majority shareholder, SCIC, albeit a divestiture by this shareholder is expected over the near to medium term. 

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CHINA TAIPING INSURANCE (HK) COMPANY LIMITED CREDIT RATINGS AFFIRMED - AM BEST

KUALA LUMPUR, Dec 13 (Bernama) -- Global credit rating agency, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of ‘a’ (Excellent) of China Taiping Insurance (HK) Company Limited [CTPI(HK)] Hong Kong.

The outlook of these Credit Ratings (ratings) is stable, based on a statement.

The ratings reflect CTPI(HK)’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. It also incorporates the rating enhancement that CTPI(HK) receives from its parent, China Taiping Insurance Holdings Company Limited (CTIH).

CTPI(HK)’s very strong balance sheet strength is supported by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio.

Its capital and surplus (C&S) dropped by 3.8 per cent to HKD 5 billion (US$649 million) in 2020 mainly driven by asset impairment losses. (US$1 = RM4.210)

AM Best considers the company to have an adequate buffer in its risk-adjusted capitalisation to support its risk profile over the short to intermediate term.

CTPI(HK) reported a net loss in its bottom line in 2020 due to the aforementioned impairment losses, despite a track record of net profits over the past decade.

Going forward, AM Best expects the company’s operating performance to remain highly dependent on its investment performance, while uncertainty around the performance of the unlisted funds will add volatility to its profitability.

CTPI(HK) ranked third in Hong Kong’s non-life insurance market based on gross written premium in 2020, and its product lines consisted mainly of motor, accident and health (A&H), fire and general liability.

For more information, visit www.ambest.com.

-- BERNAMA

CLOUDBEES SECURES US$245 MILLION IN NEW FINANCING

KUALA LUMPUR, Dec 13 (Bernama) -- CloudBees, the leading software delivery platform for enterprises, announced it has closed a US$150 million Series F financing round at a pre-money valuation of US$1 billion, and also closed a US$95 million debt facility to accelerate growth. (US$1 = RM4.210)

The financing was led by client vehicles advised by Goldman Sachs Asset Management Private Credit (Goldman Sachs Asset Management), with new investments from funds affiliated with Morgan Stanley Private Credit (Morgan Stanley) and Bridgepoint Capital, along with repeat investors HSBC, Golub Capital, and Delta-v Capital.

The new capital will be used by CloudBees to advance and accelerate product innovation, recruit and develop talent, expand its footprint in markets like Asia Pacific, and broaden its global and regional partnerships, according to a statement.

“CloudBees shapes the way some of the most sophisticated businesses deliver software and innovation to their customers. It’s how enterprises compete and win in a world that is transformed by the continuous delivery of meaningful, secure, and compliant digital experiences,” said CloudBees Chief Executive Officer (CEO), Stephen DeWitt.

“This investment round will help CloudBees achieve new levels of innovation, attract and grow talent, and expand globally.”

This year, CloudBees brought on new executive leadership, including CEO Stephen DeWitt who joined the company in February.

In addition, CloudBees has attracted new executive team members with deep experience in scaling high-growth enterprise software companies, including at SAP, Splunk, Cobalt, RedHat, Cloudera, and PayPal.

Since its previous funding round in 2018, CloudBees has announced new products for continuous integration, continuous delivery, release orchestration, feature management, analytics, and continuous compliance.

It has also acquired leading companies to bolster its product portfolio and offerings, including CodeShip, Electric Cloud, Rollout, and Neuralprints.

More details at www.cloudbees.com.

-- BERNAMA

Conagen Supports DARPA's Resource Sustainability Programme

KUALA LUMPUR, Dec 10 -- Massachusetts-based biotech Conagen has announced participation in a collaboration supporting the ReSource program funded by a US Department of Defense (DOD) grant.

The project aims to leverage Conagen's proprietary fermentation technology to convert plastics and other energy-dense waste into valuable, reusable materials.

"Humanity needs to make better use of plastic resources and close the recycling loop," said Casey Lippmeier, Ph.D., vice president of innovation at Conagen. This cooperative agreement project will demonstrate the value of recycled material for building a sustainable infrastructure."

Under the DOD, the US Defense Advanced Research Projects Agency (DARPA) Biological Technologies Office created the ReSource Program to research and develop an integrated self-containment system. The project explores using a combination of synthetic biology and chemical technology for turning plastic waste into critical supplies.

Professor Chris A. Voigt, Ph.D., directs the project at the Massachusetts Institute of Technology (MIT) in collaboration with Conagen and Novoloop. The Voigt lab has expertise in microbial genetic design and engineering and has created tools and platform technologies central to the effort.

According to a statement, Conagen was selected as the fermentation scale-up partner for its synthetic biology expertise, purification process development capability, and world-scale manufacturing.

"Recycling plastic waste is just the beginning," says Lippmeier. "This DARPA-funded project primarily seeks to improve the efficient use of resources by our troops. However, the technology for converting plastics and bio-plastics into other higher-value materials should create incentives to remove these pollutants from the environment and support humanitarian efforts with renewable sources of food, nutrition, and water."

Now that Phase I is complete, the MIT team, including Conagen, advance to Phase II when they hope to achieve purifying, scaling, and upcycling waste into valuable products. 

For more information, visit www.conagen.com.

-- BERNAMA 

GANGNAN DISTRICT, GUIGANG, GUANGXI: TRANSFORMATION OF QIAOXU DOWN

^{Qiaoxu - China Down Valley under construction}


GUIGANG, China, Dec. 13, 2021 /Xinhua-AsiaNet/--

Recently, Plot B of Qiaoxu - China Down Valley has been under construction in full swing and multiple large machines have been operated for land leveling, as a down feather factory is planned to be built here. According to the Publicity Department of Gangnan District, Guigang, the total planned land area of the project is 69618.12 square meters, two production workshops are planned to be built, covering an area of 40,000 square meters. In April this year, Plot A has been put into production, marking an essential stride in the transformation and upgrading of the down feather industry in Gangnan District.
 
Qiaoxu down feather industry of Gangnan District, Guigang, Guangxi was flourishing in the 1980s. For over 40 years, Qiaoxu down feather industry has grown rapidly by gathering the high-quality down resources and relying on the industries with little investment but quick results as well as the flexibility in business and agriculture, laying a foundation for the reputations of "Hometown of Down in China", "High-quality Down Production Base in China", and "Excellent Down Feather Industrial Cluster in China". The products are sold to Zhejiang, Shanghai, and other regions and countries, including Japan, Korea, the United States and Europe, and the processing volume accounts for 28% of China, 18% of the world.
 
To consolidate existing advantages, Qiaoxu Town Government and Guangxi Qiaoxu Lotus Down Feather Group Co., Ltd. have prepared to jointly set up the Project of Qiaoxu - China Down Valley to build it into a new factory with advanced technology and high value-added products upon standardization, modernization and internationalization, intellectualization. The total investment is expected to be RMB1.615 billion, and the building area for the construction is planned to be 46.19 hectares. The Project will be divided into three phases, with a construction period of 5 years. For the Project, the brand cultivation plan is actively implemented, cultivating more than 20 high-quality brands, such as "Qiaoxu Down", "Lotus Down Quilt" and " Lotus City Home Textile". High-tech technologies are introduced for the Project as well, including low-carbon environmental protection technology, wastewater environmental protection treatment and recycling and high conversion rate of production energy, and Yezzileaf Ecological Breeding Base is built to eliminate the peculiar odor of down products and further guarantee the raw materials supply of Qiaoxu high-quality down. The detergent-free production line and an advanced sterilization system are innovated and developed in the Project to eliminate the product odor and improve the product quality on the premise of maintaining the original ecological properties of down. Moreover, the projects of Qiaoxu Down Trading Center and Expo Science and Innovation Center are being promoted as a whole to better undertake innovative research and development technologies and promote industrial technological innovation.
 
Aiming to build a national high-end industrial cluster of down products, the Project will realize the transformation and upgrading of the only traditional down feather industry in Guangxi, and establish the whole industrial chain of scientific breeding, deep finishing processing and online and offline sales. After the Project is put into operation, it will have an annual output of 63,000 tons of down (feather), 5 million of down quilts, with an output value of RMB 10 billion and tax revenue of RMB 300 million, creating more than 8,000 job opportunities.
 
Source: The Publicity Department of Gangnan District, Guigang
 
Image Attachments Links:
 
   Link: http://asianetnews.net/view-attachment?attach-id=410539
 
   Caption: Qiaoxu - China Down Valley under construction

KELLYOCG® LAUNCHES RPO SOLUTIONS FOR FASTER COMPANY LINK TO TALENT

KUALA LUMPUR, Dec 10 (Bernama) -- KellyOCG® has launched two new Recruitment Process Outsourcing (RPO) solutions, KellyOCG Boost and KellyOCG GO RPO, supporting high and low-volume hiring and connect employers of all sizes to quality talent quicker and more cost-effectively.

The solutions blend KellyOCG’s rich understanding of the talent market, talent technology, and in-depth knowledge of how talent wants to be engaged to reach qualified candidates that meet employers’ unique workforce needs.

KellyOCG Boost is a customisable solution that accelerates the hiring of 500 or more full-time employees at a time by balancing mobile talent engagement with human interaction to decrease fill times and cost per hire. Backed by the company’s sophisticated tech stack, Kelly Helix, KellyOCG Boost easily integrates with an organisation’s existing processes and technologies.

Advanced analytics bring the right talent to employers while a fast-paced digital customer experience helps with selection and hiring. The solution also ensures timely candidate communication and a smooth recruiting process for an exceptional experience and positive representation of a company’s brand. KellyOCG Boost is scalable to grow with an organisation’s future talent needs.

“More people are bringing their consumer expectations to work demanding effortless recruiting experiences with regular communication – especially in today’s labour market,” said KellyOCG President Tammy Browning in a statement.

“Through AI matching and a scoring algorithm, KellyOCG Boost evaluates candidates for fit, moving the right job seekers seamlessly through the process and reducing pressure on hiring managers to find the necessary talent to be competitive.”

KellyOCG GO RPO is a powerful and customisable platform for mid-market organisations that need hundreds, rather than thousands, of permanent workers. Built on years of talent acquisition expertise, it offers companies a cost-effective recruiting solution with high-quality service that can shift with clients’ unique workforce needs over time.

“KellyOCG GO RPO addresses a gap in the market by making cost-effective RPO solutions accessible for organisations with lower hiring volumes at a time when finding the right talent fast is critical to long-term business success,” said Browning.

For more information, visit kellyocg.com.

-- BERNAMA

TOSHIBA ANNOUNCES 18TB MN09 SERIES NAS HARD DISK DRIVES

KUALA LUMPUR, Dec 10 (Bernama) -- Toshiba Electronic Devices & Storage Corporation (Toshiba) has announced the MN09, a massive capacity 18TB [1] addition to its NAS HDD line-up.

High growth in data creation is driving demand for higher storage capacities, and work-from-home customers need fast access to data and the ability to archive and share data in private cloud environments. The 18TB MN09 delivers greater storage capacity and power efficiency to meet the growing needs of storage customers.

MN09 is a 9-disk helium-sealed conventional magnetic recording (CMR) drive that leverages Toshiba’s new innovative Flux Control Microwave-Assisted Magnetic Recording (FC-MAMR™) technology. FC-MAMR™ advances CMR capacity to 18TB and delivers increased density per platter over previous designs. The MN09 is the 3rd generation to use Toshiba’s pioneering 9-disk helium-sealed mechanical design.

MAMR technology is one solution that extends HDD data capacities. The ability of HDD using a new MAMR head to significantly improve the write ability of the Microwave Assisted Switching (MAS) effect has been developed recently.

According to a statement, Toshiba will continue satisfying market demand and to advance CMR drive data densities with MAMR technology.

MN09 is engineered for 24/7 operation and has a workload rating of 180TB/year. Up to eight drive bays are supported by the NAS 3.5-inch drive.

The 7200RPM 18TB NAS drive is designed with a 512MB buffer and delivers a consistent high level of performance with a sustained transfer rate of 268 MiB/s, making it the preferred choice of home offices and small businesses.

The MN09 18TB is available now.

-- BERNAMA

Adagene Presents Clinical Data Demonstrating Cold Tumour Efficacy

KUALA LUMPUR, Dec 7  -- Adagene Inc (Adagene) has announced clinical data on its anti-CTLA-4 monoclonal antibody, ADG116, and anti-CD137 agonist, ADG106, in two poster presentations at the European Society for Medical Oncology Immuno-Oncology (ESMO-IO) Congress 2021, to be held virtually and in Geneva, Switzerland from Dec 8 to 11.

In the first presentation of results from an ongoing dose-escalation trial of monotherapy in patients with advanced metastatic tumours, ADG116 demonstrated a strong safety profile and early signals of efficacy, including dose-dependent T-cell activation and tumour suppression in treatment-resistant ‘cold’ and ‘warm’ tumours such as pancreatic, ovarian and renal cell cancers.

On the findings, Dr Gary Richardson, OAM, MBBS, FRACP, Group Director at Cabrini Health Research, Director at Szalmuk Family Department of Medical Oncology and Professor of Medicine at Monash University, Australia said in a statement:

“These encouraging clinical data demonstrate the promising safety profile of ADG116 monotherapy in patients with advanced solid tumours across 15 different tumour types, the majority of which are resistant to standard therapy.

The most exciting thing about these results is that we have also seen the early signals of efficacy in ‘cold’ tumors such as pancreatic and certain gynecological cancers, which do not respond to current immunotherapies.

“We want to see this type of unique activity, which suggests that this treatment may look different and potentially better than the options we have available today.”

For more information, visit: https://investor.adagene.com.

-- BERNAMA

AM BEST REVISES LABUAN REINSURANCE (L) LTD OUTLOOKS TO STABLE

KUALA LUMPUR, Dec 9 (Bernama) -- Global credit rating agency, AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of ‘a-’ (Excellent) of Labuan Reinsurance (L) Ltd. (Labuan Re) (Malaysia).

The Credit Ratings (ratings) reflect Labuan Re’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

According to a statement, the revision of the outlooks to stable reflects AM Best’s expectation that Labuan Re’s rating fundamentals will remain commensurate with their current assessments over the near to medium term.

Labuan Re’s balance sheet strength assessment is underpinned by its 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). AM Best views the company as having a moderate risk investment strategy with it holding a combination of low-risk assets, including cash, deposits and fixed-income instruments, albeit with notable exposure to higher-risk assets of non-rated fixed-income instruments, equities and real estate.

In AM Best’s view, the company remains exposed to natural catastrophe risks emanating from its regional reinsurance operations, although Labuan Re has actively sought to reduce its peak peril exposures over the past few years.

AM Best views the company’s operating performance as adequate. Despite remaining pressured by a combination of catastrophe losses and COVID-19 related provisioning, remedial actions taken by management over recent years have supported incremental improvements in the company’s underwriting performance.

Whilst AM Best expects the ongoing pandemic to drive a decline in investment yields over the near to medium term, operating earnings are expected to be supported by continued underwriting performance improvements, aided by a strengthening of reinsurance pricing/terms and the ongoing implementation of a program of remedial actions.

AM Best assesses Labuan Re’s business profile as neutral given its position as a well-established regional non-life reinsurer.

Over the medium term, AM Best expects the company to exhibit a declining trend in gross written premium, as it continues to reduce its participation at Lloyd’s of London. 

For more information, visit www.ambest.com.

-- BERNAMA

NIELSENIQ'S E-COMMERCE SOLUTIONS INVESTMENT OFFERS MARKETPLACE INDUSTRY-LEADING VIEW

KUALA LUMPUR, Dec 9 (Bernama) -- The shopper journey continually evolves as consumers have more control over what they do, see, and hear, meaning the tools used to measure and analyse sales, market share and consumer behaviour must also change.

In an environment continuing to experience seismic shifts, measuring when, where and how consumers are buying is imperative, thus allowing fast-moving consumer goods (FMCG) manufacturers and retailers to anticipate trends and react faster to consumer needs and expectations.

NielsenIQ is transforming the FMCG and retail industry with its innovative solutions and precise insights, which offer an integrated, accurate, complete, and more granular view of the offline and online marketplace—making it easier to analyse trends across channels.

Foxintelligence is the largest e-commerce measurement and consumer data analytics company in Europe, and will be able to expand its coverage and offering to additional markets as a NielsenIQ-powered company.

Eight months after becoming a standalone company, NielsenIQ has made several key acquisitions and significantly increased its investments to accelerate its product delivery and build comprehensive solutions, transforming the measurement and analytics solutions available to the rapidly changing FMCG and retail industry.

“NielsenIQ’s ambition is to approach e-commerce holistically. Foxintelligence is instrumental in this strategy, expanding the footprint of our unmatched retail measurement solution. They uncover the online blind spots like marketplaces, category specialists, direct-to-consumer, quick-commerce and last milers, among others, providing full-market coverage,” said Clément Colin, Head of International E-commerce Measurement, NielsenIQ, in a statement.

Foxintelligence gathers and anonymises e-receipts to create detailed, comprehensive, and proprietary transaction data. This data is the cornerstone of market intelligence in today’s digital consumption age, and NielsenIQ will propel it forward.

The acquisition of Foxintelligence marks the latest bold step NielsenIQ is taking in providing groundbreaking, comprehensive e-commerce data. In September this year, NielsenIQ acquired Rakuten Intelligence and Data Impact to enhance its e-commerce solution portfolio and scale it globally.

For more information, visit NielsenIQ.com.

-- BERNAMA

MALAYSIAN REINSURANCE BERHAD CREDIT RATINGS AFFIRMED - AM BEST

KUALA LUMPUR, Dec 10 (Bernama) -- Global credit rating agency, AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of ‘a-’ (Excellent) of Malaysian Reinsurance Berhad (Malaysian Re) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

According to a statement, the ratings reflect Malaysian Re’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Malaysian Re’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which was at the strongest level as of the fiscal year ended March 31 (FY 2021), and is expected to remain so over the medium term.

Capital adequacy is supported by the company’s moderate underwriting leverage, quality panel of retrocessionaires and conservative investment portfolio. As of the end of FY 2021, the majority of the company’s investments were held in cash and deposits, government bonds and high-grade debt securities.

A partially offsetting balance sheet factor remains Malaysian Re’s notable exposure to catastrophe risks emanating from its overseas business, although the company has taken steps in managing these exposures.

AM Best views the company’s operating performance as adequate. Malaysian Re has reported a five-year average combined ratio of 99.6 per cent and a return-on-equity ratio of 6.4 per cent (FY 2017 - 2021).

Despite competitive market conditions for its overseas business and some large claims from the domestic energy portfolio, Malaysian Re reported an improved underwriting result in FY 2021, driven by a lower operating expense ratio and a reduction in the loss ratio for the company’s domestic voluntary cession business and overseas Non-MENA portfolio.

Despite the company’s underwriting operations having exhibited thin margins over recent years, investment income arising from interest and dividends has remained strong and supported overall earnings. Prospectively, AM Best expects the company’s investment results to experience some volatility amid the COVID-19 environment.

Malaysian Re is the largest non-life reinsurer in Malaysia, with a dominant domestic market share, benefiting from a regulatory domestic cession arrangement, which contributes favourably to its overall premium volumes and technical profitability.

For more information, visit www.ambest.com.

-- BERNAMA

Adagene Presents Clinical Data Demonstrating Cold Tumour Efficacy

KUALA LUMPUR, Dec 7  -- Adagene Inc (Adagene) has announced clinical data on its anti-CTLA-4 monoclonal antibody, ADG116, and anti-CD137 agonist, ADG106, in two poster presentations at the European Society for Medical Oncology Immuno-Oncology (ESMO-IO) Congress 2021, to be held virtually and in Geneva, Switzerland from Dec 8 to 11.

In the first presentation of results from an ongoing dose-escalation trial of monotherapy in patients with advanced metastatic tumours, ADG116 demonstrated a strong safety profile and early signals of efficacy, including dose-dependent T-cell activation and tumour suppression in treatment-resistant ‘cold’ and ‘warm’ tumours such as pancreatic, ovarian and renal cell cancers.

On the findings, Dr Gary Richardson, OAM, MBBS, FRACP, Group Director at Cabrini Health Research, Director at Szalmuk Family Department of Medical Oncology and Professor of Medicine at Monash University, Australia said in a statement:

“These encouraging clinical data demonstrate the promising safety profile of ADG116 monotherapy in patients with advanced solid tumours across 15 different tumour types, the majority of which are resistant to standard therapy.

The most exciting thing about these results is that we have also seen the early signals of efficacy in ‘cold’ tumors such as pancreatic and certain gynecological cancers, which do not respond to current immunotherapies.

“We want to see this type of unique activity, which suggests that this treatment may look different and potentially better than the options we have available today.”

For more information, visit: https://investor.adagene.com.

-- BERNAMA

DELPHIX, UNISYS ACCELERATE CALIFORNIA STATE UNIVERSITY'S DIGITAL STRATEGY FOR APPLICATION

KUALA LUMPUR, Dec 8 (Bernama) -- Delphix, an industry-leading data company for DevOps, and Unisys Corporation, a global IT solutions company, have announced accelerating California State University’s (CSU) digital strategy by providing quick and secure access to data to support student application development.

The nation’s largest four-year public university can now provide its 23 campuses with data on-demand to implement their own digital strategies. This kind of rapid access has enabled software engineers at the campuses to quickly develop innovative applications to enable Graduation Initiative 2025, an ambitious project that aims to increase graduation rates while eliminating opportunity and achievement gaps.

The project also includes applications that enable students to check their grades, financial aid and graduation status, among others.

The initiative is a part of the university’s larger hybrid architecture strategy aimed at improving graduation rates, student experience and satisfaction, and eliminating equity gaps in graduation rates.

Unisys enables CSU to leverage the Delphix DevOps Data Platform to accelerate and simplify its Hybrid-Architecture enablement. The platform’s ability to easily spin up, refresh, and tear down private and public cloud-based data environments dramatically enhances the university’s application delivery pipeline.

Delphix and Unisys work together with CSU to help the university reduce costs and improve operational efficiency.

Using Delphix and Unisys, CSU has saved over US$4.5 million per year and avoided future costs of over US$7 million per year in data storage expenditures, thus freeing up resources to fund innovation and significantly improving CSU’s productivity measures.

“We are proud to partner with Delphix to enable CSU’s hybrid architecture strategy to provide improved data delivery, data access, and data integration to better support the digital strategies at CSU,” said Rudy Gonzalez, Unisys CSU Program Director.

In a statement, Delphix CEO, Jedidiah Yueh added: “Transformational automation is a game-changer, enabling 100x increases in innovation velocity. Modern data automation with integrated security and compliance enables CSU to improve student outcomes and experiences, spend less on infrastructure, and invest more in strategic initiatives.”

For more information, visit www.delphix.com.

-- BERNAMA

WORLD'S LEADING DIGITAL WHOLESALE PLATFORM JOOR RELEASES 2021-END FIGURES

KUALA LUMPUR, Dec 8 (Bernama) -- JOOR, the world’s leading digital wholesale platform has released its end-of-year figures for 2021.

These data points confirm the continued acceleration of digital adoption among brands and retailers, and that even with the return of in-person markets and events, electronic B2B commerce continues to play an important and ever increasing role in the fashion ecosystem.

In light of evolving supply chain uncertainty, the real-time insights delivered by the JOOR platform proved especially critical to both brands and retailers in 2021. The volume of wholesale transactions (GMV) passing through the JOOR platform increased 60 per cent from 2020, averaging over US$1.5bn per month. (US$1 = RM4.222)

The number of orders placed on the platform increased 35 per cent year over year, and the average order value (AOV) increased 59 per cent over the prior year.

“We continue to see significant momentum in our business because we prioritise innovations that meaningfully impact the businesses of our brands and retailers,” explained JOOR CEO, Kristin Savilia in a statement.

“In 2022, we will look to build out successful offerings including a new and improved JOOR Marketplace to facilitate enhanced product discovery and our electronic payment and financing capabilities.”

Despite a spike in virtual buying and selling at the onset of the pandemic in early 2020, brand and retailer engagement on JOOR increased even further in 2021, with the completion of 400,000 new connections between brands and retailers this year to date.

Rich content served to enhance the connection experience, with brands uploading almost 85 per cent more images to JOOR than they did in 2020.

Retailers were more active than ever on JOOR, particularly as it pertains to small and medium-sized businesses. JOOR’s retail accounts grew by 100,000—a 37 per cent increase from 2020 to 2021, almost exclusively driven by boutique establishments joining the platform.

-- BERNAMA

SHANNON MCDANIEL DESIGNATED PANDUIT CHIEF EXECUTIVE OFFICER, PRESIDENT

KUALA LUMPUR, Dec 8 (Bernama) -- Panduit has announced its Board of Directors appointed Shannon McDaniel as its next Chief Executive Officer (CEO) and President, effective Jan 1, 2022.

McDaniel, who currently serves as the company’s chief financial officer, will succeed current CEO and President Dennis Renaud, who will retire 2021-end.

“As a results-focused leader, Shannon brings his collaborative mindset to the role, drawing from his commercial and financial background, while leveraging the power of Panduit to move the company forward,” said Panduit Executive Chair Andrew Caveney.

“Shannon has also built the trust of our employees, and the Board is confident that he will apply his deep industry knowledge and keen business acumen to lead Panduit.”

In a statement, Caveney added that McDaniel was taking over the role of CEO at an ideal time.

The incoming CEO said he was thrilled for the opportunity to serve as Panduit’s CEO and lead the company into its next phase of growth.

McDaniel, who has served in a variety of leadership positions over his 30-year career, holds a Bachelor of Science in Accounting from Northern Illinois University in DeKalb, Ill.

Meanwhile, Renaud, following his planned retirement, will continue supporting the transition in an advisory capacity through the first quarter of 2022.

For more information, visit www.panduit.com.

-- BERNAMA

VISIT CHINA NINGXIA, GIVE YOUR SOUL A VACATION

KUALA LUMPUR, Dec 8 (Bernama) -- China Ningxia, a stop on ancient Silk Road, also known as the "the Silk Road Post station”, has served as an important passage for transportation and trade between the East and the West in history. 
 
Ningxia, where the Yellow River flows through, has been a beautiful and fertile land since ancient times. The extraordinary craftsmanship of nature has created the mountains, plains, rivers, oasis, lakes and deserts there. Both the grandeur of the north of China and the elegance of the south come together in this lovely place.
 
Ningxia’s Shapotou Tourism Area is regarded as one of the five most beautiful deserts in China, and is widely recognised as the Capital of Sand. Standing on the sand hill, one can see the desert extending to the north, and to the south, a boundless oasis. Tourists can enjoy the beauty and mystery of the desert from the vantage point of a camel's back. 
 
Ningxia is rich both in natural and cultural landscapes. In recent years, Ningxia has been actively promoting tourism elements such as Yellow River culture, desert starry sky, dynamic experience, and ruins of the Great Wall, which strives to make Ningxia more three-dimensional and more diverse tourism destination. Ningxia is indeed a place worth visiting in whatever way. 
 
Here in Ningxia, you could also enjoy watching the sunrise and sunset at the daytime, seeing the moon and stars at the night, staying away from the hustle and bustle of the city, letting go the stresses of work and life, merging with nature, relaxing, immersing yourself into the vast starry sky, and embracing serenity and comfort which nature has given us. There is no hustle and bustle of the city here, only beautiful stars accompanying you to your dream world.
 
Come to Ningxia, give your soul a vacation.

Source: Department of Culture and Tourism Ningxia, China 

http://mrem.bernama.com/viewsm.php?idm=41834

AM BEST MAINTAINS NEGATIVE OUTLOOK ON CHINA'S NON-LIFE INSURANCE INDUSTRY

KUALA LUMPUR, Dec 9 (Bernama) -- Global credit rating agency, AM Best is maintaining a negative market segment outlook on China’s non-life insurance industry, as insurers continue to face operational and investment headwinds amid tightening regulatory supervision.


The Best’s Market Segment Report, titled ‘Market Segment Outlook, China Non-Life Insurance’, states factors for the continued negative outlook include industry portfolio rebalancing that may exacerbate pressure on underwriting; increasing strategic and operational challenges from tightening regulatory supervision; and potential economic weakening due to the country’s current property liquidity crisis, which could dampen insurance demand.


In 2020, direct premiums written in China’s non-life insurance market grew by approximately four per cent, a sharp reduction with the market’s track record over the past decade. Motor insurance, which accounted for 63 per cent of non-life direct premiums in 2019, decreased significantly to 54 per cent as of September 2021.


With the combined impact of the economic fallout from the COVID-19 pandemic during the first half of 2020, and the implementation of the motor comprehensive reform in September 2020, the motor segment recorded an increase of just 0.7 per cent in 2020.


Taking the full impact of the motor comprehensive reform into consideration, motor insurance premiums shrunk by 9.4 per cent over the first nine months of 2021, according to a statement.


The negative market segment outlook is underpinned by AM Best’s expectation that non-life insurers’ profit margins will remain subdued over the short term as the market rebalances its portfolio.


Non-life insurers will need time to adjust their channel and expense strategies to achieve an adequately lower expense ratio. Additionally, small to medium size companies without diversified distribution channels and the capability to increase their online acquisitions could be unable to adequately lower expense ratios, and therefore suffer near-term deterioration in their combined ratios.


Notwithstanding the macroeconomic challenges and a fast evolving regulatory environment, the capital adequacy of China’s non-life insurance segment remains solid, as evidenced by a non-life industry average C-ROSS comprehensive solvency ratio and core solvency ratio of 286.8 per cent and 258.0 per cent, respectively, as of the second quarter of 2021.


Factors that may lead to AM Best revising its market segment outlook to stable from negative in the future include the industry successfully navigating the headwinds of the motor comprehensive reform and returning to technical profitability, as well as a lower dependence on investment returns.


For more information, visit www.ambest.com.


-- BERNAMA

Nippon Express (Nederland) Obtains GDP Compliance Certification For Company Warehouse

KUALA LUMPUR, Dec 8 -- Nippon Express (Nederland) B.V. (NEN), a local subsidiary of Nippon Express Co Ltd, obtained Good Distribution Practice (GDP) certification, effective Sep 6, for its company-owned warehouse in Schiphol Trade Park near Amsterdam's Schiphol Airport, evidencing its compliance with GDP standards for the proper distribution of pharmaceuticals.

The Netherlands has become home to one of Europe's largest clusters of cutting-edge biotechnology companies.

According to a statement, the country's geographical and tax advantages have encouraged numerous pharmaceutical manufacturers to set up logistics bases there.

NEN's warehouse near Schiphol Airport, an import/export gateway for Europe, is fully equipped with dedicated pharmaceutical storage areas boasting temperature-control functions for three temperature ranges -- 15 C to 25 C (constant-temperature storage), 2 C to 8 C (refrigerated storage) and -15 C to -25 C (frozen storage) -- as well as dedicated truck docks, enabling NEN to enhance its pharmaceutical transport services to meet anticipated increases in demand.

Nippon Express remains committed to improving its services to meet the increasingly sophisticated and diversified pharmaceutical transport needs of its customers.

The Company will continue to strengthen its efforts on behalf of the pharmaceutical industry, identified as a priority industry in its Medium-term Business Plan.

For more information, visit http://www.nipponexpress.com/

-- BERNAMA

JUMIO ACQUIRES 4STOP, REDEFINING END-TO-END IDENTITY INDUSTRY

KUALA LUMPUR, Dec 8 (Bernama) -- Jumio, the leading provider of AI-powered end-to-end identity orchestration, eKYC and AML solutions, has announced acquisition of current strategic partner 4Stop, the leading data marketplace and orchestration hub for KYB, KYC, compliance and fraud prevention.

The addition of 4Stop’s data sources to the Jumio KYX Platform realises Jumio’s strategic vision of redefining the end-to-end identity industry.

Founded in Germany in 2016, 4Stop’s global data marketplace and orchestration hub integrates with multiple vendors giving access to more than 650 data sources across 195 countries.

4Stop’s technology, when combined with Jumio’s award-winning solutions, will enable organisations to manage the entire customer identity lifecycle within a single, unified platform and allow for rapid configuration and integration through one easy and intuitive API layer.

This acquisition follows the launch of Jumio’s intuitive no-code orchestration layer for its KYX Platform and will accelerate Jumio’s business and technology objectives to solidify itself as the leader in digital identity orchestration. Financial terms of the agreement, expected to close early 2022, were not disclosed.

“Today’s pace and sophistication of cybercrime means organisations cannot afford to rely on multiple vendors for their identity verification and fraud prevention needs,” said Jumio CEO Robert Prigge based on a statement.

“There’s no way around it: a successful identity company must now have KYC, AML, KYB and orchestration. Together, 4Stop and Jumio’s solutions will offer this and more, delivering a complete, end-to-end approach to identity orchestration and fraud prevention.”

Ingo Ernst, 4Stop CEO said: “We are very excited for the opportunity to join forces with Jumio to build and perfect crucial next-generation identity and anti-fraud solutions to support the growth of global online ecosystems.”

Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific.

For more information, visit www.jumio.com.

-- BERNAMA

COVER CORP DECLARES OPENING TOKOPEDIA ONLINE HOLOLIVE PRODUCTION'S OFFICIAL SHOP

KUALA LUMPUR, Dec 6 (Bernama) -- COVER Corp has announced the grand opening of online hololive production's OFFICIAL SHOP on Tokopedia, Indonesia’s most visited local e-commerce website.

According to a statement, the new hololive production OFFICIAL SHOP on Tokopedia offers a wide range of VTuber merchandise from hololive production, a virtual talent agency comprising Virtual YouTubers, or VTubers, owned by COVER.

Shop the latest merchandise, including hololive's summer festival x atre Akihabara Commemorative collection, which was only available at atre Akihabara, Tokyo, for a limited period from Aug 1, 2021.

With hololive production OFFICAL SHOP on Tokopedia, the company aims to bring genuine licensed products to its fans in Southeast Asia.

Visitors can now purchase COVER's merchandise at the same price as in Japan. Tokopedia's exclusive merchandise is also on its way.

COVER Corp is a startup company in the content creation and technology industries.

Its vision is to utilise its VR/AR technology to create new culture of virtual talent who can be widely accepted in the global market. URL: http://cover-corp.com.

-- BERNAMA