WINGS’ CHAIRMAN AND CEO, R. STEPHEN HANNAHS RETIRES

KUALA LUMPUR, June 30 (Bernama) -- Wings Capital Partners LLC (Wings), a private, full-service aircraft leasing platform, announced the retirement of its Chairman and Chief Executive Officer (CEO), R. Stephen Hannahs, effective June 30.

In a statement, Wings Chief Legal and Administrative Officer, Nick Stable said through headwinds and tailwinds in the aviation industry, over many decades Hannahs has been an incredible leader, entrepreneur and mentor.

“The Wings team congratulates him on an exemplary career and is proud to have been by his side as he nurtured and grew Wings to become the business it is today, a successful platform with a dedicated, hard-working team of individuals, past and current,” he said.

Hannahs founded Wings in 2013 and has since led the company as its Chairman and CEO. Prior to founding Wings, Hannahs co-founded Aviation Capital Group (ACG) in 1989 and served as CEO until 2012.

Prior to ACG, Hannahs held executive roles at Electra Aviation, Integrated Resources Inc and Tanon Corporation, among others. He began his aviation career as an officer in the United States Air Force.

-- BERNAMA

JUNIPER RESEARCH LAUNCHES FINTECH'S MOST COMPREHENSIVE EMERGING PAYMENTS RESEARCH SUBSCRIPTION

KUALA LUMPUR, June 30 (Bernama) -- Juniper Research has launched the fintech industry’s most comprehensive emerging payments research subscription, designed to provide financial institutions and payments vendors with the tools necessary to leverage the opportunities within this global trillion-dollar market.

“The payments landscape is changing at a faster rate than ever before, with new solutions such as CBDCs driving innovative use cases. As such, staying ahead of the curve is becoming increasingly difficult.

“This new resource enables financial institutions and payments stakeholders to recognise today’s shifting markets and seize tomorrow’s opportunities, and ultimately, take the lead over their rivals,” said Juniper Research Founder & Chief Executive Officer, Tony Crabtree.

Several of the world’s leading financial institutions and payments vendors are already experiencing the benefits of an annual subscription to the Emerging Payments Market Intelligence Centre, which includes access to highly granular data and forecasts; unparallelled industry insight; and detailed competitive analysis.

Juniper Research’s Emerging Payments Market Intelligence Centre delivers actionable knowledge and insight on the nine biggest sectors within the emerging payments market, including Buy Now Pay Later; Digital Wallets; eCommerce Payments; and QR Code Payments.

According to Juniper Research in a statement, subscribers also enjoy complimentary access to harvest, a proprietary online data platform that allows users to explore and analyse the latest market data.

In addition, new reports are regularly added to the Emerging Payments Market Intelligence Centre, ensuring that no matter how fast the payments industry moves, subscribers never have to worry about being left behind.

Juniper Research provides research and analytical services to the world’s leading technology companies including consultancy, analyst reports and industry commentary.

-- BERNAMA

LANE'S PASSFAX PRODUCT USHERS IN A NEW ERA OF SIMPLE AND AFFORDABLE ONLINE FAXING

SAN ANTONIO, TX, June 30, 2023 / ACCESSWIRE - AsiaNet / --

PassFax boasts a low monthly cost, making the service highly advantageous for both businesses and individuals

Lane, a distinguished provider of innovative faxing solutions, has announced its latest product, PassFax, which promises to transform how businesses and individuals send and receive faxes within its platform. Powered by Lane's flagship product, Passport, PassFax is a versatile and flexible solution that caters to the needs of various individual users and businesses.

With PassFax, users can easily send and receive faxes from any location with an internet connection. The product offers a web user interface, making it easy for users to exchange faxes at a comparatively low cost. This level of convenience eliminates the inefficiencies of traditional fax machines and allows businesses and individuals to save time and money while streamlining their fax communications.

"We've designed PassFax to be an affordable and easy-to-use tool that helps businesses and individuals save time and money while improving overall productivity," states the CEO of Lane, Liz Maya. "We are thrilled to bring this product to an increasingly competitive market to help fax users stay ahead of the curve in our ever-evolving digital age."

PassFax offers basic, business, and enterprise packages to suit both business and individual communication needs. The product comes with customizable options that enable users to tailor it to their unique communications environment. For as low as $9.95 a month, users can enjoy the benefits of reliable and affordable online faxing.

By introducing this new online faxing solution, Lane is making it simpler than ever for businesses and individuals to keep up with their document-sharing needs without compromising affordability, security, or convenience.

About Lane

Lane is recognized globally as a leader in secure messaging communications and fax integration across a wide range of industries. Lane aims to exceed expectations by applying robust and tailored solutions that yield tangible results for their clients. With a strong track record of implementing systems across 50 countries, Lane's team possesses extensive knowledge and experience in developing solutions from the largest financial institutions to healthcare companies, as well as other public and private enterprises. For more information, visit https://laneds.com, call us at +1 (973) 526-2979, or email us at info@lanetelecom.com.

Contact Information
Liz Maya
CEO
lmaya@lanetelecom.com

SOURCE: Lane

--BERNAMA

MAXC SPORTS REVOLUTIONIZES THE FITNESS INDUSTRY WITH THE FIRST MULTI-LEVEL EXERCISING REWARDS PLATFORM

^{Maxc Smart-Sports Sdn Bhd, Founder and Chief Executive Officer Mr.  Max Cheah Keng Chai}


KUALA LUMPUR, June 28 (Bernama) -- MaxC Smart-Sports Sdn. Bhd. ("MaxC Sports" or “Company”), a pioneer in the fitness-tech industry is revolutionising health awareness and entrepreneurship.

Since its inception in 2019, the company has been steadfastly committed to promoting a culture of wellness, confronting the growing issues of unhealthy lifestyle practices, obesity, soaring healthcare expenses, and unemployment.

MaxC Sports offers an innovative multi-level exercise rewards platform, the first to encourage physical activity by rewarding users for their daily movements. This platform extends beyond promoting wellness as it is also about growing wealth through a robust rewards system. By fostering an environment where healthy living and economic opportunity go hand-in-hand, MaxC Sports is redefining what it means to lead an aspirational lifestyle.

MaxC Smart-Sports Sdn Bhd’s Founder and Chief Executive Officer Mr Max Cheah Keng Chai said, "MaxC Sports embodies the ethos 'SPORTS FOR ALL TOWARDS ASPIRATIONAL LIFESTYLE'. We believe in providing excellent business opportunities that create a safe and trustworthy environment for young adults to embark on their entrepreneurial journey.”

“Our mission is to be the market's leading business platform promoting a healthy lifestyle to the community, and our vision is to build more young entrepreneurs, cultivating a love for sports and a healthier world."

MaxC Sports, leveraging its innovative rewards platform, is creating a unique solution to the prevalent health concerns, high living costs, and the rising unemployment rate. This platform not only encourages healthier lifestyle habits but also provides substantial incentives that serve as an economic lifeline for individuals in the B40 and M40 income groups. This offers an exciting opportunity for these individuals to embark on their entrepreneurial ventures.

A crucial part of this platform's design is the promotion of the World Health Organization's daily minimum requirements for physical activity. MaxC Sports takes the novel approach of rewarding activity rather than simply advocating for it. This engaging, incentive-based method forms a proactive frontline in the fight against obesity and unhealthy dietary habits.

The innovative platform and holistic strategy adopted is in line with the company’s motto – “A Pair of Sports Shoes to Kick-off Your Career” as MaxC Sports’ objective is to foster health and wellness through the foundation method of exercise.

Aside from that, MaxC Sports is excited to announce its collaboration with JDT Hyperdrink for the Charity Fun Run in August 2023. This event will be a key component of our Corporate Social Responsibility (“CSR”) program, geared towards supporting ambitious young adults who aspire to make a meaningful impact on their lives.

“This partnership represents an integral step in our ongoing commitment to promote health and entrepreneurship. It's through initiatives like these that we can truly make a difference, encouraging people to engage in exercise and embark on rewarding careers,” Max Cheah added.

MaxC Sports' unique strategic approach has the potential to transform dreams into reality, stimulate social change through innovation, and make a significant contribution to the improvement of health and wealth generation.


SOURCE : Aegis Communication on behalf of MaxC Smart-Sports Sdn. Bhd.

CLOUDFLARE NAMED LEADER IN 3 INDEPENDENT RESEARCH REPORTS

KUALA LUMPUR, June 28 (Bernama) -- Cloudflare Inc announced it has been named a Leader in three independent research reports that cite different solutions within its Internet-native Zero Trust SASE platform, Cloudflare One.

Cloudflare was named a Leader in The Forrester Wave: Enterprise Email Security, Q2 2023; IDC Marketscape: Worldwide Zero Trust Network Access 2023 Vendor Assessment; and IDC Marketscape: Worldwide Network Edge Security as a Service 2023 Vendor Assessment.

“We believe that being recognised as a leader across all three reports is just one more indication that we are giving customers the most complete Zero Trust platform available,” said Cloudflare chief executive officer and co-founder, Matthew Prince in a statement.

The Forrester Wave: Enterprise Email Security, Q2 2023 report named Cloudflare a Leader based on a detailed evaluation of 15 top providers, and is Cloudflare’s first appearance in the report following the acquisition of Area 1 Security, with the company receiving the highest score possible in nine criteria.

In addition, Cloudflare was recognised as a Leader in the 2023 IDC MarketScape for Worldwide Zero Trust Network Access (ZTNA), in which Cloudflare Access is the foundation of the firm’s enterprise Zero Trust suite, and the linchpin in its enterprise security strategy.

Cloudflare Access offers extensive deployment flexibility, supporting cloud and on-premises options, to support a breadth of resource types, including managed or unmanaged user devices, Internet of Things (IoT) devices and server types, including serverless.

Furthermore, Cloudflare was recognised as a Leader in the 2023 IDC MarketScape for Worldwide NESaaS. Cloudflare One combines Cloudflare Access (for ZTNA), Cloudflare CASB, and Cloudflare Gateway (secure web gateway) as one integrated cloud security service.

The combination allows Cloudflare One to address a number of key use cases including threat prevention and data protection across cloud, web and private applications.

Cloudflare is on a mission to help build a better Internet. Its suite of products protect and accelerate any Internet application online without adding hardware, installing software or changing a line of code.

-- BERNAMA

H&H GROUP ANNOUNCES SUCCESSFUL COMPLETION OF REFINANCING

KUALA LUMPUR, June 28 (Bernama) -- H&H Group has announced the successful completion of the issuance of a new three-year bond amounting to US$200 million. (US$1=RM4.65)

According to a statement, this is an important milestone for the Group’s liability management exercise to refinance its outstanding bond which will mature in October 2024.

This achievement enables the Group to maintain a stable and sustainable capital structure, alongside preserving the Group's liquidity for operational and business development purposes.

“This refinancing will enable more financial flexibility to successfully deliver on our strategic objectives, to provide the best for our consumers, customers and our shareholders,” said H&H Group Interim Chief Executive Officer and Chief Strategy & Operations Officer, Akash Bedi.

Meanwhile, H&H Group Chief Financial Officer, Jason Wang said: “This accomplishment showcases the Group’s resilience in raising capital, particularly during challenging market conditions and persistent external headwinds.

“We are extremely pleased with the successful conclusion of this debt refinancing, as it propels us towards a solid path of reducing debt levels and effectively managing risk on our balance sheet, ultimately strengthening our financial position.”

The Group also successfully broadened and diversified its investor base from this new bond issuance, including new investors from the Middle East, Asia and Europe, in line with the business footprint expansion in those regions.

It has successfully raised RMB500 million through a long-term loan agreement with China Construction Bank Corporation Guangzhou Development District Branch (CCB).

The loan, provided to H&H China, a wholly-owned subsidiary of H&H Group, will be used to further enhance the Group’s liquidity position and diversify its sources of capital.

-- BERNAMA

SOUTH KOREA’S TONGYEONG OFFERS TRAVELLERS UNIQUE EXPERIENCES WITH RANGE OF ACTIVITIES

 

Somaemuldo Lighthouse photo (Photo: Kim, Dul-ja) (Copyright: Tongyeong City, www.tongyeong.go.kr)

KUALA LUMPUR, June 28 (Bernama) -- Tongyeong, a port city located in the southern part of South Korea, is performing a range of activities to attract overseas travellers in order to activate tourism, offering full of unique experiences.

Located in a one-hour and thirty-minute distance from Busan, Tongyeong is a coastal city consisting of 192 islands that is full of exotic things to enjoy, according to a statement.

Among others, the Jangsado Sea Park, a famous filming location for the globally popular TV shows “Running Man” and “My Love from the Star”, offers a beautiful garden surrounded by the magnificent sea where camellias and hydrangeas are in full bloom by season.

A city where travellers can properly enjoy the South Sea at the southern end of the beautiful Korean peninsula, Tongyeong has another famous tourist attraction namely Tongyeong Cable Car, the longest cable car in South Korea.

The city also has Skyline Luge, the first of its type opened in the country, from which travellers can enjoy the magnificent view of the South Sea. During summer, it opens at night, offering an opportunity to enjoy the night view.

Furthermore, Gangguan Port, the centre of Tongyeong tourism, is a celebrated location where travellers can enjoy the tranquil and romantic night view of this small city.

One of the 100 Must-Visit Tourist Spots in South Korea in 2023 – 2024, Dpirang is the country’s first outdoor media art park, in which travellers can experience the feeling of being a character of a fairytale with the media art attraction installed along the Nammangsan Sculpture Park walking trail.

A port city offering an abundance of fresh seafood, Tongyeong oyster is one of the most famous seafoods in Korea. At around US$20, travellers can enjoy a variety of oyster dishes, such as seasoned fresh oysters, steamed oysters and deep-fried oysters. (US$1=RM4.65)

In Tongyeong, travellers are also able to find a variety of accommodation facilities ranging from guesthouses to hotels and pool villas. To make a special memory of travel, travellers can try staying at “Pension”, a Korean-style accommodation that is cheaper than hotels.

Details about Tongyeong attractions are available at https://www.tongyeong.go.kr/eng.web.

-- BERNAMA

GTJAI ACHIEVES INAUGURAL CARBON NEUTRALITY AT OPERATIONAL LEVEL

KUALA LUMPUR, June 27 (Bernama) -- Guotai Junan International Holdings Limited (GTJAI), the market leader and first mover for internationalisation of Chinese Securities Company, has successfully achieved carbon neutrality at the operational level for the first time.

According to a statement, leveraging on its focus on climate change and environmental issues along with the comprehensive and efficient implementation of relevant measures, the company’s greenhouse gas (GHG) emissions and energy consumption have both decreased significantly in recent years.

The total GHG emissions from GTJAI’s operational level have been reduced for three consecutive years and it has successfully further offset the GHG emissions generated during its operation in 2022 by subscribing for the carbon assets of a Verified Carbon Standard (VCS) forestry project from Mainland China.

In recent years, GTJAI has been continuously improving its environmental, social and governance (ESG) management level. In particular, it has introduced a series of measures to address environmental and climate change risks.

GTJAI has set up relevant timetable, which includes plans to switch to clean fuel vehicles on demand, remove unnecessary high-carbon emission fire protection system in office, and properly control the temperature of air-conditioning in the office.

This time, the project subscribed by GTJAI is located in the counties of Qianbei District, Zunyi City, Guizhou Province, China, aiming to reduce GHG emissions by changing barren hills and land uses, as well as transform degraded land into sustainable forest production system.

Adhered to the belief and sentiment of "finance for the country", "finance for the people" and "finance for good", GTJAI closely follows the guidance of the national economic development policy, and actively undertakes the responsibility in the process of implementing the goals of carbon peaking and carbon neutrality.

Looking forward, GTJAI will continue to respond to the country's dual carbon goals and strive to be the leader in the practice of green finance and ESG.

In the process of corporate operation, GTJAI continues to optimise environmental protection and energy saving measures, reduce operational carbon emissions, as well as strive to be the first to participate in environmental protection activities, among others.

-- BERNAMA

AM Best Maintains Stable Outlook On South Korea’s Non-life Insurance Market

KUALA LUMPUR, June 27 (Bernama) -- Global credit rating agency, AM Best is maintaining its stable outlook on South Korea’s non-life insurance segment, citing improved performance of the long-term insurance line of business and greater stability in auto profitability.

In a new Best’s Market Segment Report, “Market Segment Outlook: South Korea Non-Life Insurance,” AM Best stated that long-term insurance, the largest business line in the non-life industry, maintained stable growth of approximately four per cent in 2022 due to continued expansion of the recurring premium base and strong new business generation from health products.

Its director, analytics, Chanyoung Lee said the cumulative effects of prior rate hikes in the medical indemnity line, along with regulators’ active involvement in controlling moral hazard claims and overtreatment, in particular, cataract surgery, since the first half of 2022 has helped boost carriers’ profits.

“Insurers also have been expanding sales of high-margin health products to secure their future profit base under IFRS 17, which became effective in 2023,” said Lee in a statement.

Premium growth in the auto insurance segment was subdued at two per cent in 2022, but the combined ratio saw slight 0.5-percentage-point improvement to 96.9 per cent.

The rating agency expects upward pressure on the auto insurance segment’s combined ratio following the post-pandemic rebound in claims frequency and the rise in vehicle repair costs and minimum wage due to inflation.

While AM Best expects that IFRS 17 is likely to bring more stability in reported financials for many South Korean insurers, given the use of active assumption sets in IFRS 17, the change in actuarial/economic assumptions with the new standard could bring widely varying impacts on reported capital and earnings.

-- BERNAMA

CHRYSALIX VENTURE CAPITAL'S FIRST CLOSE OF NEW FUND SUPPORTS CARBON NEUTRAL STRATEGIES

KUALA LUMPUR, June 26 (Bernama) -- Chrysalix Venture Capital, an experienced and early stage industrial sustainability investor, has announced the first close of its fifth fund, the Carbon Neutrality Fund.

The Fund will invest in early-stage companies globally that are developing technologies to enable carbon neutrality for industries such as energy, mining, transport, chemicals, building materials like steel and cement, and forestry.

It will focus on technologies that include resource efficiency solutions, alternative fuels, materials substitution and circularity, carbon as a resource, negative emission technologies, carbon analytics and markets and will primarily invest across Canada, the United States and Europe.

Chrysalix Venture Capital Managing Partner, Fred van Beuningen in a statement said: “We are pleased to welcome several leading international investors to the Carbon Neutrality Fund.

“Working closely with our Limited Partners, the Fund will connect leading companies with outstanding entrepreneurs, linking market driven problems to innovative solutions while seizing the value creation opportunity of carbon neutrality.”

Investors in the Fund include leading industrial companies like Evonik, LyondellBasell, Siam Cement Group (SCG), and a North American leader in forestry, pulp and paper products.

With this first close, the Fund is on its way to raising its target size of US$120 million and is supported by Chrysalix’s expanded presence in Europe, as well as the Chrysalix ecosystem. (US$1=RM4.67)

This includes many of the leading global industrial companies, top universities from Europe, North America and Asia, partnerships with climate technology accelerators and providers of non dilutive and growth capital.

-- BERNAMA

THE KINGDOM ATTAINS ADVANCED RANKS IN FINANCIAL MARKET INDICATORS - CAPITAL MARKET AUTHORITY

KUALA LUMPUR, June 23 (Bernama) -- Capital Market Authority (CMA) announced the Kingdom of Saudi Arabia has advanced seven spots to 17th place in the 2023 IMD World Competitiveness Yearbook, marking a tremendous leap in its global standing.

According to a statement, this achievement exemplifies the CMA's continued efforts and steps to improve and expand the Kingdom's capital markets by implementing relevant global best practices.

The Stock Market Index and merger and acquisition (M&A) activity saw the most significant gains, indicating a positive rise in Saudi Arabia's financial sector and boosting investor confidence in the national economy.

Notably, the Kingdom's growth in the Venture Capital ranking suggests a growing environment for venture capital availability, which provides a critical support system for emerging businesses.

The CMA's approval of the Regulatory Framework for Equity Crowdfunding demonstrates the organisation's solid commitment to cultivating an innovative and competitive capital market ecosystem.

Its efforts have also resulted in corporate board oversight, with the Kingdom achieving first place among G20 nations, demonstrating the CMA's commitment to maintaining strong governance standards, which is critical for investor trust.

It is important to note that CMA have implemented several significant changes recently, which had a positive impact on these advancements. Notably, the CMA's approval of the Rules for Foreign Investment in Securities.

This is expected to have a positive impact on boosting liquidity in the Saudi market, deepening and raising its attractiveness, and enhancing its global status.

The rules will also help transform knowledge and experiences among local capital institutions and investors, strengthening institutional investors' involvement in the Saudi capital market.

CMA aims to increase the Saudi capital market's attractiveness, raise its efficiency, and boost its competitiveness regionally and internationally via developing the market to achieve its strategic plan, intents to place the Saudi market on top of the Middle East’s markets and rank it as one of the most important capital markets in the globe.

-- BERNAMA

TUSHAR SHAH JOINS UNIPHORE’S EXECUTIVE LEADERSHIP TEAM AS CHIEF PRODUCT OFFICER

KUALA LUMPUR, June 23 (Bernama) -- Uniphore, one of the largest global artificial intelligence (AI)-native conversational AI providers for the enterprise, has appointed Tushar Shah as chief product officer (CPO).

With over 30 years of experience in various technology leadership roles, including product management, operations management, go-to-market and customer experience functions, Shah brings a unique perspective to his role as CPO.

According to Uniphore in a statement, he joins the company’s executive leadership team and reports to its chief executive officer (CEO), Umesh Sachdev.

Sachdev said Shah’s ability to build and lead high-performing product and engineering teams makes him a perfect fit for Uniphore.

“As we start a new chapter in our transformation journey, Tushar’s experience will be instrumental in building products that will delight our customers, partners, employees and stakeholders.”

Meanwhile, Shah said: “As Uniphore continues to grow the capabilities of its X platform and generative AI, it is more important than ever that we work as one team to constantly innovate and deliver value to our customers.

“Building elegant and transformative products is my passion. I look forward to bringing that to life at Uniphore,” added Shah.

Shah joins Uniphore from NationsBenefits, where he served as president and CEO of Fintech. Prior to that, he was the senior vice president at PayPal where he led product and engineering, and managed credit, identity, risk, compliance, customer service, machine learning and AI platforms.

-- BERNAMA

Huddlehumans Launches Social Mental Health App Globally

KUALA LUMPUR, June 21 (Bernama) -- Singapore-based mental health tech startup, Huddlehumans has launched Huddleverse, a social mental health app available globally on Apple's App Store.

Huddlehumans Founder and Chief Executive Officer, Viaano Spruyt said Huddleverse is the company’s unwavering commitment to addressing the neglected social aspect of mental health.

“We recognised this as a significant gap in the existing landscape of mental health support and wanted to dedicate ourselves entirely to addressing it through our app,” added Spruyt.

According to a statement, in Huddleverse, users can share personal experiences, effortlessly make friends, and engage through text and voice capabilities, stickers and other interactive features.

In an exclusive app launch video featuring Singapore's Olympic gold medalist, Joseph Schooling; Brazilian Jiu-Jitsu world champion, Constance Lien; and popular social media influencer, Hannah Alkaff; Huddleverse has quickly captured the attention of users worldwide.

Since its release, Huddleverse has garnered immense popularity, ranking as the eighth free app in the App Store due to its unique blend of inclusivity, fun and wholesomeness, providing a safe haven for users to seek anonymous support without the fear of judgment.

With the increasing prevalence of mental health issues, people are yearning for connection and support. Traditional mental health care systems often leave individuals feeling isolated, invalidated and confused.

Huddleverse aims to shatter these barriers and bridge the gaps by offering a universally accessible platform for troubled individuals to receive peer-to-peer and communal support, 24/7.

-- BERNAMA

NIPPON EXPRESS EUROPE PARTICIPATES IN "TRANSPORT LOGISTIC 2023"

TOKYO, June 21, 2023 /Kyodo JBN-AsiaNet/ --

Nippon Express Europe GmbH (hereinafter "NX Europe"), a group company of NIPPON EXPRESS HOLDINGS, INC., participated for the second time in "transport logistic 2023" held in Munich, Germany, from Tuesday, May 9, to Friday, May 12.   Logo: https://kyodonewsprwire.jp/img/202306136300-O1-VS0Q9pbS   Photo: Inside NX Europe booth https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202306136300/_prw_PI2fl_7lnV7TjL.jpg?_ga=2.106673859.1997240702.1686531031-1438572707.1685531252 transport logistic 2023 is the world's largest international exhibition dedicated to introducing the latest products, services, and innovations in logistics, transport, information technology, and supply chain management. This year's event attracted 2,320 exhibitors from more than 120 countries and regions, with over 75,000 visitors attending the exhibition. NX Europe's booth showcased the strengths of the Nippon Express Group's global network and logistics services while also underscoring sustainability as one of its themes by utilizing environmentally friendly promotional items, such as bamboo business cards, wild flower seed bags, re-usable water bottles and pencils with plant seeds, as gifts to highlight the Group's efforts to realize a sustainable society.  http://mrem.bernama.com/viewsm.php?idm=46434

AM BEST AFFIRMS PICC HK’S CREDIT RATINGS AS EXCELLENT

KUALA LUMPUR, June 22 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The People’s Insurance Company of China (Hong Kong), Limited (PICC HK).

In a statement, the global credit rating agency said the outlook of these Credit Ratings (ratings) is stable.

The ratings reflected PICC HK’s balance sheet strength, which AM Best assessed as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The ratings also reflected the strategic importance of the company to its parent, The People’s Insurance Company (Group) of China Limited (PICC Group), as the sole overseas insurance entity and a key component of PICC Group’s overseas strategies.

PICC HK’s very strong balance sheet is underpinned by its strongest risk-adjusted capitalisation level, as measured by Best’s Capital Adequacy Ratio.

The company maintains strong liquidity and holds a well-diversified investment portfolio, which mainly consists of investment-grade bonds, cash and cash equivalents, as well as preference shares, with the remainder allocated in listed equities and funds.

AM Best assessed PICC HK’s operating performance to be adequate with the company having achieved a five-year average operating ratio of 95.0 per cent (2018-2022), mainly supported by its robust net investment income from its diversified investment portfolio.

The company’s business profile is assessed as limited in which PICC HK underwrites direct onshore general insurance in Hong Kong and inward reinsurance from mainland China and other geographic regions.

With the establishment of its Macau branch in 2022, PICC HK is eligible to provide one-stop motor insurance policy covering mainland China’s greater bay area, Hong Kong and Macau.

Positive rating actions could occur if PICC HK further enhances its market presence in the local insurance market, as well as further diversifies its reliance on affiliated companies and continues improving its business profile.

-- BERNAMA

Cirrus Logic Pro Audio Family Of Converters Deliver Transparent Audio Experience

KUALA LUMPUR, June 21 (Bernama) -- Building on its history in audio, Cirrus Logic announced a new family of professional audio products that equips manufacturers with transparent audio converters, allowing designers to customise their products.

The newly rearchitected Cirrus Logic Pro Audio Family of converters initially includes high-performance, low-power analog-to-digital converters (ADCs), followed later this year by digital-to-analog converters (DACs) and an audio codec.

Using a process optimised for analog performance and digital density, its pro audio devices offer world-class performance and industry-leading low power consumption along with system-level enhancements, such as hybrid gain control, to solve common industry audio problems.

“Cirrus Logic’s new high-performance Pro Audio Family will make it easier for customers to design great sounding personalised products that differentiate them in their markets, while being assured they are backed by our top-level engineering and customer support,” said Cirrus Logic director of Codecs and Standard Products, Eddie Sinnott.

In a statement, Cirrus Logic said the first products to be introduced are a series of three ADCs aimed at providing transparent audio conversion within a device that is simple to use and integrate.

The Cirrus Logic CS5302P stereo ADC, CS5304P 4-channel ADC and CS5308P 8-channel ADC are designed to be used in digital mixers, USB audio interfaces, home audio and audio video receivers, as well as musical instruments, among others.

Its hybrid gain control redefines microphone front-end gain design to reduce pop noise and simplify the customer’s system design, when compared to existing solutions, and  is suited to all customers implementing mic-pre gain control, as well as other applications.

This feature allows customers to retain their existing mic preamp design as a product differentiator while reducing the overall system complexity.

-- BERNAMA

CERTIK AWARDED US$500,000 BOUNTY FOR SUI BLOCKCHAIN THREAT DISCOVERY

KUALA LUMPUR, June 20 (Bernama) -- CertiK, a global pioneer in blockchain security, was awarded a US$500,000 bounty by Sui for the discovery of a new type of security threat codenamed "HamsterWheel”, which had the potential to disrupt the entire Sui Layer one chain. (US$1=RM4.63)

Differing from traditional attacks that shut down chains by crashing nodes, the HamsterWheel attack traps all nodes in a state of ceaseless operation without processing new transactions, and this strategy can cripple entire networks, effectively rendering them inoperable.

CertiK Chief Security Officer, Kang Li said the discovery of the HamsterWheel attack demonstrated the evolving sophistication of threats to blockchain networks.

“At CertiK, we are dedicated to staying at the forefront of security developments to ensure the safety and reliability of the Web3 world,” he said in a statement.

The security firm reported this critical vulnerability to Sui ahead of its mainnet launch and received confirmation from Sui about the potential damages the HamsterWheel attack could inflict on the network.

Recognising the gravity of the situation, Sui swiftly implemented solutions to mitigate the potential harm of such attacks. Fixes have already been rolled out to ensure the security of the SUI network.

In appreciation of CertiK's pivotal discovery, Sui has paid out a US$500,000 reward for this critical finding. This gesture underscores the value of proactive cybersecurity efforts, bug bounty programmes, and the importance of fostering a secure and resilient blockchain ecosystem.

This incident highlights the necessity of robust security measures and preemptive threat identification in the rapidly developing blockchain space. It reiterates CertiK's commitment to securing the web3 world through cutting-edge technologies and best-in-class security services.

-- BERNAMA

JUNIPER RESEARCH UNVEILS FUTURE DIGITAL AWARDS FOR SMART CITIES & IOT INNOVATION 2023 WINNERS

KUALA LUMPUR, June 21 (Bernama) -- Juniper Research has announced the winners of the 2023 Future Digital Awards for Smart Cities & IoT Innovation, recognising the most innovative and disruptive vendors and solutions in the highly dynamic smart cities and Internet of Things (IoT) industries.

According to Juniper Research in a statement, the winners in each category went through an extensive application and judging process.

The winner for the Juniper Research Award for Urban Technology Leadership under the Judges’ Choice category is Siemens Chief Executive Officer Smart Infrastructure, Matthias Rebellius, while SkedGo won the Juniper Research – Pathway to Net Zero Award.

In the IoT Innovation category, winners for Best IoT Device Management Platform goes to Dynamic Ecosystem of Connected Devices from HCLTech (Platinum) and 1NCE OS from 1NCE (Gold); Best IoT Security Platform to Ijura from Tata Communications (Platinum) and eSIM enabled Smart Label for Transportation & Logistics from Pod Group, a Giesecke+Devrient Company (Gold).

The platinum and gold winners for eSIM Innovation of the Year in the same category are iBASIS Global Access for Things from iBASIS and CloudSIM from Tata Communications, respectively. Platinum winner for the Most Innovative Edge Computing Solution goes to Radix IoT Mango OS from Radix IoT, while gold winner to PlantPRO from CLP Smart Energy Connect.

In addition, under the same category, winners for Private Cellular Network Innovation (Tata Communications MOVE - Private Network – Platinum; Commscope – Gold); and Smart Agriculture Solution Innovation (TerraPrima – Platinum; PrecisionHawk – Gold).

Meanwhile, for Sustainability & Smart City Innovation category, among the winners are Best Smart Parking Solution (Cleverciti – Platinum; Smart Parking – Gold); Best Smart Traffic Management Solution (Miovision – Platinum; Iteris – Gold); and Best Urban EV Charging Solution (Parkopedia – Platinum; Charging-As-A-Service from CLP Smart Energy Connect – Gold).

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

-- BERNAMA

ONLY 9 PCT GLOBAL ORGANISATIONS AVOID NETWORK OUTAGES - OPENGEAR RESEARCH

Opengear shares research revealing that 91% of global businesses experience at least one outage quarterly pointing to the need for improved network resilience (Photo: Business Wire)

KUALA LUMPUR, June 21 (Bernama) -- Fewer than one in 10 Chief Information Officers (CIOs) can claim that they have avoided a network outage, according to a new research by Opengear, a Digi International company and provider of secure and Smart Out of Band management solutions.

“Our research findings lay bare the challenges that organisations globally are facing with network outages in 2023. It is perhaps unsurprising that CIOs are allocating more investment to network resiliency to ensure that downtime does not occur.

“Smart Out of Band technologies can enable remediation of network issues from any location, helping to reinforce business resilience in a difficult economic climate,” said Opengear President, Gary Marks.

According to Opengear in a statement, this finding is among new research by Opengear of both CIOs and network engineers globally.

The scale and frequency of network outages is revealed by 91 per cent of CIOs stating that they experience downtime at least once a quarter, and further survey statistics reveal that network downtime has a significant financial impact for businesses.

Figures showing that in the United States (US) for each minute of disruption, 24 per cent of organisations lose between US$2,501 and US$5,000. As an average, this figure equates to US$4,344 for every minute of downtime incurred. (US$1=RM4.64)

Due to continued network outages and rising economic pressures, 79 per cent of US CIOs now say it is harder to meet customer expectations in today’s environment, a concern also reflected by 68 per cent of US network engineers.

Therefore, 92 per cent of US CIOs have increased their budget over the last 12 months to improve their network resilience, with almost half (44 per cent) dedicating over 50 per cent of their information technology budget to infrastructure spend in order to secure their operations.

Opengear is headquartered in New Jersey, US, with a research and development centre in Brisbane, Australia.

-- BERNAMA

CSOP IEDGE SOUTHEAST ASIA+ TECH INDEX ETF LISTED ON SINGAPORE STOCK EXCHANGE

CSOP iEdge Southeast Asia+ TECH Index ETF (Stock Code: SGD counter: SQQ/ USD counter: SQU) (Photo: Business Wire)

KUALA LUMPUR, June 20 (Bernama) -- CSOP Asset Management has announced the launch of its fifth ETF - CSOP iEdge Southeast Asia+ TECH Index ETF (SGD counter: SQQ/ USD counter: SQU) on Singapore Stock Exchange (SGX).

SQQ/SQU will adopt a representative sampling strategy to track the performance of the iEdge Southeast Asia+ TECH Index (the Index), capturing the investment opportunities in the technology-related economy of the Southeast Asia (SEA) and India market.

The ETF is available for investment on the primary market in SGD and trading in both SGD and USD at an inception price of SG$1 with a board lot size of one share. The initial investment size is around US$16.5 million, primarily from international institutional investors. (US$1=RM4.63)

“This ETF presents an enticing opportunity for investors to capitalise on the rapid growth of Southeast Asia and India. The successful listing of the ETF will enhance Singapore's ETF market and cater to the demands of discerning investors,” said CSOP Asset Management Chief Executive Officer, Ding Chen in a statement.

CSOP iEdge Southeast Asia+ TECH Index ETF is the first ETF in Singapore to present a remarkable investment opportunity within the thriving tech industry across the rapidly expanding regions of SEA and India.

By investing in this ETF, individuals can capitalise on the immense growth potential of emerging Asian markets while diversifying their portfolios within the dynamic tech sector.

Compiled and maintained by SGX Index Edge, iEdge Southeast Asia+ TECH Index is designed to track the performance of 30 largest technology or innovative companies based in India, Singapore, Indonesia, Thailand, Vietnam and Malaysia.

The index includes listed companies mainly in technology-related sectors such as information technology, software, consulting, car manufacturing, electronic components, manufacturing, retail and media services.

-- BERNAMA

POSITKA RECEIVES MANAGED SOC MONITORING SERVICES LICENCE FROM CSA SINGAPORE

KUALA LUMPUR, June 19 (Bernama) -- Positka, a Global cybersecurity and information technology (IT) services provider, announced it has earned the new Managed SOC Monitoring Services Licence provided by CSA Singapore.

According to a statement, this licence is a highly esteemed recognition in the Singapore cybersecurity industry, widely acknowledged by industry experts.

Positka acquired the licence following the introduction of the new licensing framework by CSA Singapore in April 2022, under the country's Cybersecurity Act.

Positka Director, Ravind Singam said: “We are glad to add the Managed SOC Monitoring Services Licence to our portfolio of cybersecurity achievements. It is a testament to our team's hard work and dedication to providing top-notch cybersecurity solutions to our clients.”

Singam further explained that obtaining the licence was a streamlined process, involving the submission of necessary documents and compliance with Singapore's Cybersecurity Authority.

Meanwhile, SecOps Director, Kunal Sharma said: “Our goal is to provide our clients with a comprehensive security solution that meets their unique needs. We work closely with each client to understand their business and develop a customised security plan.”

At Positka, the primary focus is on providing clients with comprehensive security solutions tailored to their unique needs.

The company has a proven track record of delivering high-quality IT consulting services to businesses of all sizes. With the exceptional performance of its managed security services, it is poised to become a leader in the cybersecurity industry.

-- BERNAMA

HITACHI ENERGY WINS ORDER FOR FIRST SUBSEA ELECTRICITY INTERCONNECTION BETWEEN FRANCE AND SPAIN

HVDC link improves the security and quality of power in the region, advancing the integration of emission-free energy

Zurich, Switzerland, June 15 (Bernama-GLOBE NEWSWIRE) -- Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, today announced it won an order from Electricity Interconnection France-Spain (Inelfe), the joint venture bringing together operators of the Spanish (Red Eléctrica) and French (RTE) electricity transmission networks, in charge of the construction and commissioning of all cross-border connections between both countries, to supply four high-voltage direct current (HVDC) converter stations to interconnect France and Spain via a subsea cable across the Biscay Gulf. 

The Biscay Gulf interconnection, labeled as project of common interest (PCI) at the European level, will consist of two HVDC links, with a converter station at each end of both systems. Combined, the links will efficiently supply a total of 2,000 megawatts (MW) of electricity at 400 kilovolts (kV) over 400 kilometers (km). Providing the equivalent of the power consumption of more than two million households^¹, the links will improve the safety, stability, and quality of the electricity supply between the two countries. It will advance the integration of emission-free electricity and create a more efficient system to generate savings that benefit consumers and the rest of Europe.^² Most of the link will be underwater, but a short section of the link cable route will return to land to avoid the deep Capbreton Canyon.

“Cross border, and often subsea, interconnections are vital to Europe’s increasingly interconnected grid,” said Niklas Persson, Managing Director at Hitachi Energy’s Grid Integration business. "Through our pioneering HVDC technology, we enable Inelfe to accelerate the two countries' sustainability goals, improving the safety, stability, and quality of electricity supply between France and Spain and the rest of Europe.”

Inelfe (Interconexión Eléctrica Francia-España or Electricity Interconnection France-Spain) was set up following the 2008 Zaragoza Agreement, between the governments of Spain and France, with the mission to enhance the exchange of electricity between the two countries. The resulting infrastructure doubled the interconnection capacity between France and Spain from 1,400 MW to 2,800 MW today. With the Biscay Gulf interconnection, the capacity to exchange power will soon reach 5,000 MW.^³

In line with its Purpose to champion the urgency of a clean energy transition through innovation and collaboration, Hitachi Energy is collaborating with VINCI, an industry leader in energy and construction. Together the two companies will provide an advanced solution for the Biscay Gulf project by delivering the engineering and power technologies and the construction of the converter stations. The collaboration with VINCI will leverage the core competencies of the two companies to deliver a best-in-class solution for the project. 

http://mrem.bernama.com/viewsm.php?idm=46378

Bitmanu's Asic Miners Transform Cryptocurrency Landscape

KUALA LUMPUR, June 15 (Bernama) -- Manufacturing company, Bitmanu announced that its suite of ASIC miners technology has reshaped the global cryptocurrency landscape following the emergence of this new sensation.

Many industry stalwarts consider these mining rigs to be nothing less than a technological marvel that has the potential to change the way crypto mining will be done in the years to come.

According to Bitmanu in a statement, the most striking feature of its miners is their hash rates which are miles ahead of any other mining hardware ever built.

Powered by these hash rates, Bitmanu’s BM1, BM2, and BM Pro miners can mine Bitcoin, Litecoin, Dash and Monero with unforeseen efficiency.

In spite of their immense power to process transactions, Bitmanu miners are extremely energy efficient with the power consumptions for BM1, BM2 and BM Pro are only 50 watt (W), 850W and 2200W, respectively.

Bitmanu is also likely to make a long-term impact on the crypto market by opening it up to common people without any crypto background. To make this possible, the company has designed plug-and-play mining rigs that are effortless to use.

-- BERNAMA

PUBMATIC ENHANCES CTV PLATFORM, EXPANDS PARTNERSHIPS WITH PREMIUM STREAMING BRANDS

KUALA LUMPUR, June 16 (Bernama) -- PubMatic announced a suite of enhancements to its Connected TV (CTV) platform, providing publishers with market-leading technology innovation and unique brand demand while enabling buyers to achieve campaign performance across premium streaming inventory.

In a statement, PubMatic Vice President of CTV and OTT, Nicole Scaglione said: “Our relentless innovation and exclusive demand partnerships make PubMatic the preferred monetisation partner for premium CTV publishers.

“We have had tremendous interest in our publisher and advertiser solutions and new products like our recently launched SPO product Activate. Our customers are key stakeholders in our innovation roadmap and this has put us in prime position to win the programmatic future together.”

The company processes well over one trillion CTV impressions per month from a rapidly growing roster of CTV and OTT publishers and has announced new and expanded partnerships with premium streaming brands including AMC Networks, FOX and iQIYI.

PubMatic works with six of the top seven global smart TV providers that have ad-supported streaming services, four of the top eight major addressable broadcast video on demand (BVOD) streaming platforms in the United States (US) and five of the top eight free ad-supported TV streamers also in the US.

The company monetises inventory for the top five addressable BVOD platforms in both Australia and Japan, two of the Asia Pacific region’s largest CTV markets.

The accelerated pace of PubMatic’s new business growth in CTV coincides with the launch of a range of product and feature enhancements that provide innovation-driven advantages to buyers and publishers.

The enhancements to PubMatic’s CTV platform for publishers come on the heels of the company’s recent launch of Activate. The new end-to-end supply path optimisation solution brings the power of programmatic to automate the Direct IO process.

PubMatic is an independent technology company maximising customer value by delivering digital advertising’s supply chain of the future.

-- BERNAMA

AM BEST PUBLISHES REVISED CRITERIA PROCEDURE: ‘BEST’S NATIONAL SCALE RATINGS’

KUALA LUMPUR, June 16 (Bernama) -- Global credit rating agency, AM Best has released its revised criteria procedure, “Best’s National Scale Ratings” (NSR), effective immediately.

The revisions to the criteria procedure, formerly known as “AM Best’s Ratings on a National Scale”, include the introduction of NSRs for five countries namely Egypt, India, Indonesia, the Philippines and Vietnam.

According to AM Best in a statement, these new NSRs will allow greater differentiation among insurance participants in their respective markets.

The mappings of the new tables from the global Issuer Credit Rating (ICR) to the NSR are included in the updated rating criteria. To denote the difference between a global ICR and an NSR, the NSR will have an “.XX” where XX represents a two-letter country code.

The NSR is a relative opinion of an insurance company’s financial strength within a single country. NSRs are constructed based on the financial characteristics of (re)insurers that are domiciled in the country, and to an extent, mitigate country-specific limiting factors in the global rating analysis.

In the final version of the revised criteria procedure, the rating agency has provided greater clarity on the nine factors used to determine the market characteristics for the NSR mapping.

Additional language has been included to accommodate different reporting standards across jurisdictions that may lead to the use of other financial metrics and definitions. The revisions to the NSR criteria do not impact any published credit ratings.

Published its request for comment related to NSR criteria procedure on Feb 28, with the comment period closing on March 28, AM Best received seven comments related to the NSRs during the public consultation period through the methodology in-box.

-- BERNAMA

ZERO-ERROR SYSTEMS HIRES RAJAN RAJGOPAL AS CEO

Mr Rajan Rajgopal, Zero-Error Systems (ZES) CEO— Source: Zero-Error Systems (ZES)

KUALA LUMPUR, June 16 (Bernama) -- Zero-Error Systems (ZES), a provider of high reliability semiconductor solutions for space and power management applications, has appointed Rajan Rajgopal as its new Chief Executive Officer (CEO).

ZES Chairman, Arunjai Mittal said with Rajgopal at the helm, the company has someone who not only brings with him a wide range of understanding of semiconductors as a whole, but also his experience in both large multi-nationals as well as start-ups.

Meanwhile, Rajgopal said: “I am very excited to join Zero Error Systems primarily due to the world class Intellectual Properties the team has developed and the potential to tap into the growing market for power reliability and data integrity solutions for both Space and Power management applications.”

According to a statement, Rajgopal is a seasoned semiconductor professional with over 25 years of global corporate experience spanning Asia, Europe and the United States in profit and loss management, quality and customer management, among others.

Most recently, he was President and CEO/Vice Chairman of DenseLight Semiconductor, a boutique Semiconductor Photonics manufacturing company with a focus on semiconductor lasers for the Data Communication and Sensing markets.

Receiving four patents and more than 20 publications, Rajgopal holds a Bachelor of Science in Electrical Engineering from the University of Texas at Austin and a Master of Science in Electrical Engineering from the University of Maine, Orono.

-- BERNAMA

FEDEX AND FLOSHIP FORM COMMERCIAL PARTNERSHIP TO DELIVER WHAT'S NEXT IN E-COMMERCE

Investment from FedEx Innovation Lab and innovative collaboration strengthens FedEx end-to-end digital fulfillment and returns solution

HONG KONG, June 14 (Bernama-GLOBE NEWSWIRE) -- FedEx Corp. (NYSE: FDX) and Floship, a leading global circular supply chains solutions provider for e-commerce brands, today announced a partnership designed to provide enhanced fulfillment and logistics services to e-tailers worldwide.
 

      Through investment by the FedEx Innovation Lab (FIL), the partnership will create an end-to-end digitalized fulfillment and return solution, enhancing operational efficiency through optimal inventory management and best-in-class delivery using FedEx services.

      This partnership will give FedEx’s e-commerce customers access to Floship’s global network of warehouses and powerful logistics platform’s capabilities to streamline their e-commerce fulfillment operations. At the same time, Floship’s customers will be able to leverage FedEx global networks as well as a full range of FedEx extensive transportation options to optimize their operations.

      Additionally, FedEx’s and Floship’s cross-border e-commerce customers in Asia-Pacific, Middle East and Africa, Europe, and North America will gain access to enhanced fulfillment, last-mile delivery, as well as hassle-free returns.

      “Partnerships like this will help us accelerate how we reimagine the future of logistics,” said Salil Chari, senior vice president, Marketing and Customer Experience for Asia Pacific, Middle East, and Africa (AMEA) region, FedEx Express. “E-commerce sales continue to grow  worldwide^¹. With the growing shift to online purchasing, consumers are looking for seamless service – from delivery times and easy returns to personalized experiences^². At the same time, e-tailers are seeking to improve service levels while optimizing their operations and lowering their cost-to-serve. Collaborating with industry innovators like Floship will help online retailers better compete supported by the FedEx global logistics network.” 

http://mrem.bernama.com/viewsm.php?idm=46361

Farmpro Inks MoU With Telenor To Resolve IoT Solution Local Application Issues

KUALA LUMPUR, June 14 (Bernama) -- Farmpro, an Internet of Things (IoT)-based stockbreeding solution startup, has signed a Memorandum of Understanding (MoU) on cooperation in the field of IoT with Telenor Connexion (Telenor), a world-leading mobile IoT company, in Singapore on June 12.

According to a statement, by working with Telenor, Farmpro can resolve IoT device communication issues that are caused by different telecommunication environments among countries when it enters overseas markets.

Farmpro Co-Chief Executive Officer, Park Byeong-ok said the company's solution has significantly reduced the mortality rate of calves, through which it is contributing to reducing greenhouse gas emissions and preventing misuse of antibiotics.

Farmpro developed a solution that attaches an electronic ear tag on livestock ears to manage livestock health. Using ear tags, Farmpro takes real-time measurements of livestock temperatures and activity levels then collects and analyses data.

Analysis results are used for early detection of livestock illness and infectious disease and management of pregnancy and birth.

Farmpro reduced the mortality rate of calves aged no more than six months to one-tenth of the previous figure by using ear tags and doubled the chances of conception of cows through an artificial insemination solution.

It also held an opening ceremony for its Singapore Corporation and declared the full launch of entry into global markets, including leading stockbreeding nations such as the Argentine Republic, Australia and New Zealand.

Farmpro’s advancement into Singapore was supported by ‘Global Big IN,’ a private-government cooperation governance programme supervised by Incheon Metropolitan City.

-- BERNAMA

ENTERPRISE SPEND ON PRIVATE NETWORKS REACHES US$10 BLN BY 2028 - JUNIPER RESEARCH

KUALA LUMPUR, June 15 (Bernama) -- Enterprise spend on private networks will reach US$10 billion globally by 2028; rising from US$1 billion in 2023, according to a new study from Juniper Research. (US$1=RM4.62)

In a statement, Juniper Research said the three verticals driving the market were identified as manufacturing (35 per cent); energy (20 per cent); and public services (16 per cent).

Private networks leverage cellular technologies to provide a closed network that can be fully managed by enterprises and it cannot be accessed by any cellular connection, except for those authorised by the network itself.

The manufacturing market demands more frictionless coordination of automated processes and devices, thus requiring high-levels of orchestration via software-defined networks.

This complexity means that manufacturing will be a key use case for the more rapid adoption of 5G private networks, due to its infrastructure supporting high-device density operations and ultra-low latency properties.

As network complexity increases, the report urges private network vendors to offer an ongoing managed service approach to enterprises, which will enable private network vendors to maintain a continuous relationship with their customers and benefit from recurring revenue.

The research also predicts that spectrum resource management will be the key determining factor in the quality of service provision to minimise network interference.

Therefore, network slicing will emerge as a key technology for vendors to ensure that high throughput to private network connections is guaranteed for end users.

-- BERNAMA

Zero-Error Systems Secures Us$7.5 Mln Funding To Expand Global Sales, Marketing Efforts

KUALA LUMPUR, June 13 (Bernama) -- Zero-Error Systems (ZES), specialising in high reliability semiconductor solutions for the space and power management applications, has secured an investment of US$7.5 million in an oversubscribed Series A funding round. (US$1=RM4.62)

According to ZES in a statement, with participation from the Dart Family Office and Airbus Ventures, among others, this financing will expand the company's global sales and marketing efforts.

It will also accelerate ZES’s product roadmap journey, meeting the growing demand for radiation protection, power reliability and data integrity solutions specifically designed for Low Earth Orbit satellites, deep space rovers and landers, and a wide array of power management application needs on Earth.

“Many aerospace companies rely on Commercial Off-the-Shelf (COTS) semiconductor devices for their satellite electronics systems, which are not designed to withstand the harsh conditions of space.

“Our capabilities address essential power reliability and data integrity concerns by safeguarding COTS semiconductor devices from malfunctions with our patented radiation hardening technologies,” said ZES Chief Technology Officer and Co-Founder, Dr Shu Wei.

Meanwhile, its Vice President of Business Development and Strategy, Khor Hwai Lin said: “ZES takes pride in being a pioneering Asian semiconductor startup to develop radiation-hardened semiconductor solutions. By bridging the space and semiconductor industries, ZES plays a strategic role in Singapore's tech landscape.

“As part of ZES' new growth plan, our team now plans to elevate its engineering capacity by recruiting additional electronics engineers specialising in space and various power management applications.”

A university spin-off from Nanyang Technological University Singapore, ZES was founded in 2019 by experienced semiconductor industry veterans and integrated circuit design experts.

This latest financing will also support the company's research and development (R&D) activities in Singapore, while facilitating customer design-in activities globally.

-- BERNAMA

WESTERN UNION, DEPARTMENT OF MIGRANT WORKERS TO SUPPORT OVERSEAS FILIPINO WORKERS

KUALA LUMPUR, June 13 (Bernama) -- Western Union has signed a Memorandum of Understanding (MoU) with the Department of Migrant Workers (DMW) to support the international remittance needs of Overseas Filipino Workers.

In a statement, Western Union said the MoU bolstered its relationship with the DMW, while demonstrating the company’s commitment to the country and supporting the financial needs of Filipinos worldwide.

“I am excited and humbled to have signed this important MoU with the Department of Migrant Workers. It stands firmly at the centre of Western Union’s strategy to support Overseas Filipino Workers.

“I am confident that our collaboration with the DMW will be instrumental in our combined journey of enabling accessible financial services for all,” said Western Union President of Middle East and Asia Pacific, Jean Claude Farah.

The MoU reaffirms Western Union’s role to enable Filipino workers to send money home to their loved ones via its global money movement network.

In the Philippines, the two entities will work together to enhance knowledge of, and access to, financial services for Filipino workers via joint financial literacy programmes and other campaigns, while also supporting the DMW in advocacy such as anti-human trafficking and anti-illegal recruitment programmes.

Mandated to protect their rights and welfare, the DMW is the exclusive home of Overseas Filipino Workers and their families in government.

It is also tasked to develop and implement a full-cycle national reintegration programme which shall be embedded in all stages of migration, from pre-deployment, on-site during employment and upon return.

The MoU will also enable both entities to explore the possibility of expanding Western Union’s presence to DMW sites across the country, with the intention of further extending financial and other related services to Overseas Filipino Workers and their families.

-- BERNAMA

SEIBU RAILWAY RENOVATES IKEBUKURO, TOSHIMAEN STATIONS FOR OPENING OF STUDIO TOUR TOKYO

KUALA LUMPUR, June 12 (Bernama) -- Seibu Railway Co Ltd has completed renovation of Ikebukuro and Toshimaen stations, beginning operations of Studio Tour Tokyo Express trains with full-body wrap signage, in preparation for the opening of Warner Bros. Studio Tour Tokyo -- The Making of Harry Potter (Studio Tour Tokyo).

At Ikebukuro Station, the gateway to Studio Tour Tokyo, Platforms 1 and 2, where trains to and from Toshimaen Station depart and arrive, have been remodelled with brick walls and navy signage, patterned after King's Cross Station in London, England.

According to a statement, to commemorate the renovation, Warner Bros. has gifted a clock in the same design as that at King's Cross Station in the Harry Potter film series.

With illustrations of subjects such as wizards and owls throughout, these platforms welcome passengers as the gateway to Studio Tour Tokyo, where they can experience the magic of filmmaking to the fullest.

Based on the concept of a station that blends imagination into everyday life, the new building at Toshimaen Station, the nearest station to Studio Tour Tokyo, features touches giving a feel of the world of magic added to a simple design, evoking a gateway between the everyday world and an out-of-the-ordinary space.

The Toshimaen Station platforms feature pillars, station signage, vending machines and other fixtures designed with a red-colour scheme closely resembling Hogsmeade Station, which provides access to the Hogwarts School of Witchcraft and Wizardry.

In addition, Studio Tour Tokyo Express trains with full-body promotional wrapping, boldly decorated with the three main characters from the Harry Potter film series namely Harry, Hermione and Ron, began operating between Ikebukuro and Toshimaen stations on May 16.

Visitors to Studio Tour Tokyo can use Seibu Railway to enjoy the Harry Potter experience via the renovated Ikebukuro and Toshimaen stations and the Studio Tour Tokyo Express even while in transit.

-- BERNAMA

DUBAI INTERNATIONAL CHAMBER LAUNCHES SINGAPORE OFFICE TO BOOST BILATERAL TRADE, INVESTMENT

Hussein Al Ansari, Senior Manager - International Operations, Dubai Chambers; Hassan Al Hashemi, Vice President - International Relations, Dubai Chambers; H.E. Ahmed Ali Al Sayegh, UAE Minister of State; H.E. Jamal Abdulla AlSuwaidi, UAE Ambassador to Singapore; and Abdulla Baqer, Regional Director - Middle East & CIS, Dubai Chamber, during the inauguration of Dubai International Chamber’s new representative office in Singapore. (Photo: AETOSWire)

 
KUALA LUMPUR, June 12 (Bernama) -- Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has launched a new international representative office in Singapore.

“The launch of the new office represents another important step in our Dubai Global initiative, which aims to establish a powerful network of 50 global offices worldwide by 2030 that will offer Dubai businesses access to exciting expansion opportunities,” said Dubai Chambers President and Chief Executive Officer, Mohammad Ali Rashed Lootah.

The number of Singaporean companies registered with Dubai Chamber of Commerce stood at 687 at the end of last year, having grown by 59.4 per cent since 2016.

According to a statement, Singapore ranked 27th on the list of Dubai’s main trading partners during 2022.

The new office will accelerate efforts to boost Dubai’s non-oil foreign trade from AED 1.4 trillion to AED 2 trillion by 2026, in line with the emirate’s five-year foreign trade plan. (AED 100 = RM125.75)

It brings the total number of Dubai International Chamber's representative offices to 19 and is set to offer market intelligence and operational expertise to Singaporean businesses.

The office will also unlock access to trustworthy partners for Singaporean multinational corporations (MNCs) and small and medium enterprises (SMEs) as they explore opportunities to leverage Dubai as a hub for global expansion.

The Singapore office will help Dubai companies to maximise business opportunities by providing access to reliable partners and stakeholders, market intelligence, route-to-market strategies and operational set-up expertise.

-- BERNAMA

Quectel Showcases Wide Range Of Products, Services At Communicasia In Singapore

 

Quectel Wireless Solutions Showcases extensive range of IoT solutions and first mmWave 5G Android gaming device at CommunicAsia (Photo: Business Wire) 

KUALA LUMPUR, June 7 (Bernama) -- Quectel Wireless Solutions, a global Internet of Things (IoT) solutions provider, announced participation in the CommunicAsia event in Singapore, to present its range of products and services, designed to empower customers in building a smarter world.

In a statement, its Senior Vice President of APAC and ANZ Sales, Michael Wallon said the company is delighted to be at CommunicAsia this year, showcasing some of its latest IoT products and services.

“Quectel continues to innovate in the IoT industry and being able to exhibit the Razer Edge handheld gaming device at the show demonstrates how we have the experience, skills and capabilities to accelerate and support the development of this much-anticipated product,” Wallon added.

Quectel will be showcasing a wide range of customer end user devices at CommunicAsia including the very latest handheld Android gaming device, the Razer Edge, as well as pet tracking devices, routers, point-of-sale terminals, and metering devices.

Razer, the world's leading lifestyle and technology brand for gamers, has selected the Quectel RM510Q mmWave 5G module for use in its Razer Edge Android gaming handheld, the first 5G-enabled gaming handheld to the market, to enable gaming-grade connectivity in the United States region.

Customers will find an immersive experience at the Quectel booth during CommunicAsia, where cutting-edge IoT products and services will be unveiled, demonstrating the company’s commitment to shaping the future of the industry.

-- BERNAMA

PUBMATIC, TELKOMSEL TO OFFER DATA-DRIVEN DIGITAL ADVERTISING SOLUTIONS ACROSS INDONESIA

KUALA LUMPUR, June 8 (Bernama) -- PubMatic, an independent technology company delivering digital advertising’s supply chain of the future, and Telkomsel, the largest mobile network operator in Indonesia, announced a strategic partnership to provide data-driven digital advertising solutions for brands and agencies in Indonesia.

In a statement, PubMatic said through the partnership, Telkomsel will make audience segments based on mobile customer insights available to advertisers programmatically through Connect, its audience solution.

“With Telkomsel's telco segments available through PubMatic’s Connect, advertisers will now have access to valuable insights about Indonesian consumers, enabling them to deliver more relevant and impactful advertising campaigns.

“Bringing audience targeting to the sell-side, via Connect, means buyers can gain greater control over how inventory and data are packaged and transacted to drive the best performance for their campaigns,” said PubMatic Chief Revenue Officer, APAC, Jason Barnes.

Meanwhile, Telkomsel Vice President Digital Advertising and Financial Services, Arief Pradetya said the company is committed to providing a better and more integrated digital advertising experience for its customers.

”By making our customer telco insight data available to advertisers programmatically, we can help brands and agencies make more informed decisions and deliver more effective advertising campaigns,” he said.

Connect allows advertisers to engage audiences through privacy-compliant solutions that perform, without relying on third-party cookies or outdated strategies. Furthermore, applying valuable audience segments, such as those from Telkomsel, on the sell-side brings greater efficiency to advertisers’ campaigns.

Audience segments available programmatically through the partnership include a wide range of interest and intent based segments such as ‘Foodie, Gamer, E-commerce shopper,’ as well as segments based on purchase insights.

-- BERNAMA

HITACHI ENERGY SIGNS AGREEMENTS WITH ENOWA AND SAUDI ELECTRICITY COMPANY TO DESIGN AND DEVELOP THE FIRST PHASE OF VISIONARY NEOM REGION TRANSMISSION SYSTEM

Collaboration to accelerate the development of NEOM in Saudi Arabia with up to 9 gigawatts of power transmission capacity 

Zurich, Switzerland, May 31 (Bernama-GLOBE NEWSWIRE) -- Hitachi Energy, a global technology leader advancing a sustainable energy future for all, has signed agreements under the supervision and management of the Ministry of Energy with the Saudi Electricity Company (SEC) and with ENOWA. The agreements include the supply of three high-voltage direct current (HVDC) transmission systems to end customer ENOWA, the utility company for NEOM in Northwest Saudi Arabia. Built with sustainability in mind, NEOM is among Saudi Arabia’s Giga-Projects^¹ reshaping the future of development. The three HVDC links will have a total power capacity of up to 9 gigawatts (GW).

The agreements include an order from ENOWA’s engineering, procurement and construction management (EPCM) partner, the Saudi Electricity Company (SEC) awarded to Hitachi Energy and its consortium partner, Saudi Services for Electro Mechanical Works (SSEM), to provide one of the world’s first 3 GW, 525 kilovolt (kV) HVDC Light^® transmission system connecting Oxagon, NEOM’s regional development, with the larger Yanbu area more than 650 kilometers away in Western Saudi Arabia.

Hitachi Energy’s scope of supply includes design, engineering, procurement of HVDC technology and commissioning of the HVDC Light converter stations. Whilst SSEM – a leading Saudi EPC specialized in power, water and industrial projects – will design and supply the AC equipment portion and perform the construction and the installation. The converter stations convert the power from AC to DC then back to AC for integration into the receiving grid. The converters will be sourced by and supplied to Saudi Electricity Company, who were contracted in 2022 by ENOWA to act as their EPCM to build this first HVDC system for NEOM. 

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FPT SOFTWARE EARNS DOUBLE WINS AT IT WORLD AWARDS

(Graphic: Business Wire)

HANOI, Vietnam, June 1 (Bernama-BUSINESS WIRE) -- Global leading IT services provider FPT Software recently won two categories at the 18th Annual 2023 Information Technology World Awards (IT Word Awards®). This year, FPT Software received the highest rankings in two categories:
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· Gold Globee® Winner for Digital Commerce, FPT Software’s Digital Commerce and Experience Service
· Gold Globee® Winner for IT Solutions - Manufacturing, FPT Software’s SoundAI

The solutions and services provider was evaluated by 600 judges from a broad spectrum of industry experts worldwide. Its submission was read with high accuracy and remarkable statistical results, showing exceptional impact on business growth and customer satisfaction. The winning pair is among the firm's comprehensive suite of digital solutions to solve complex business problems in any sector.

FPT Software’s Digital Commerce and Experience service enables brands to meet the evolving customer demands in today’s dynamic multi-channel commerce. The service pack helps clients to rethink and renovate their commerce delivery ecosystem, leveraging end-to-end commerce capabilities and delighting customers at all touchpoints.

SoundAI - FPT Software's flagship Artificial Intelligence and Machine Learning Operation platform - gives a novel solution within the field of pleasant inspection. It utilizes acoustic anomaly detection for predictive maintenance and product health inspection, helping global companies reduce reliance on human inspectors while increasing inspection accuracy with a successful detection rate above 95%.

Representing FPT Software’s Digital Commerce and Experience service, Program Head Mr. Bach Nguyen Luu commented: “FPT Software sees a growing demand for digital commerce services, and we constantly push the boundaries in the digital realm, leveraging cutting-edge technologies to help global companies optimize operations and unlock data values. This recognition is a testament to our ongoing efforts and innovations, and it sets our bar higher in today's competitive eCommerce landscape.”

According to Dr. Phong Nguyen, FPT Software Chief Artificial Intelligence Officer, SoundAI represents a prime example of how AI can revolutionize product quality inspection and propel the manufacturing sector into a promising future. "With its application across various industries such as healthcare, smart home, energy, and more, SoundAI offers a transformative approach to perceiving the world and enhancing the quality of life. In the future, we are committed to advancing SoundAI and other AI capabilities to accommodate the ever-changing tech landscape.", Phong added.

The IT World Awards® is presented by the Globee® Awards, organizers of the world’s premier business awards programs and business ranking lists. The awards celebrate outstanding vendors with excellent technology advancements, aiming to raise the industry’s information technology and cybersecurity standards.

“I am honored to congratulate the remarkable winners of the 2023 Globee® Awards for Information Technology. Your dedication, innovation, and impactful contributions have set new standards of excellence in the IT industry.”, says San Madan, President of Globee Awards.

About FPT Software

FPT Software, a subsidiary of FPT Corporation, is a global technology and IT services provider headquartered in Vietnam, with $803 million in revenue and over 27,000 employees in 27 countries. As a pioneer in digital transformation, FPT Software delivers world-class services in Advanced Analytics, AI, Digital Platforms, Cloud, IoT, Hyperautomation, Low-code, and so on. The company has served over 1,000+ customers worldwide, 89 of which are Fortune Global 500 companies in Aerospace & Aviation, Automotive, Banking, Financial Services and Insurance, Healthcare, Logistics, Manufacturing, Utilities, and more. For more information, please visit http://fptsoftware.com/

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Contact

Mai Duong (Ms.)
FPT Software
PR Manager
MCP.PR@fpt.com
https://www.fpt-software.com/newsroom/

Source : FPT Software

--BERNAMA