Smart City Expo Doha 3rd Edition To Foster Sustainable Urban Development

KUALA LUMPUR, Nov 29 (Bernama) -- The third edition of Smart City Expo (SCE) Doha, the region's leading urban innovation event, is being held within the International Horticulture Exhibition of Qatar, Al Bidda Park from Nov 29 to 30.

Organised by the Qatar Ministry of Communications and Information Technology (MCIT), SCE Doha is an event of Smart City Expo World Congress and Fira Barcelona International, bringing together 70 local and international speakers from more than 80 countries.

Aimed at fostering innovation and harnessing disruptive technologies to shape the urban future, the event will also be streamed live on the Tomorrow.city platform, according to a statement.

Themed "A World of Data, Connecting People, Elevating Lives", the event will claim the fundamental role of data, connectivity and technology in building smarter, more sustainable and liveable cities for their citizens, with an emphasis on the transformative potential of cutting-edge technologies.

During the two-day event, the 70 speakers will deliver more than 20 sessions on four main themes, namely, Green Urban Environments, Digital Governance, Cognitive Cities and Livable Places.

Some 40 leading companies and organisations will also participate and explain, discuss, inspire and exchange their knowledge and innovative ideas on how to bring smart development to cities, showcasing different projects, initiatives and solutions for a more innovative, sustainable and inclusive urban future.

SCE Doha is part of the internationalisation strategy of Smart City Expo World Congress, the world's leading exhibition on smart cities and urban solutions organised annually by Fira de Barcelona, which held its 13th edition last November.

Along these lines, foreign editions have been held in 2023 in Argentina, Brazil, Colombia, the United States, Mexico and China.

-- BERNAMA

CSOP: APAC's First Saudi Arabia ETF Debuts In Hong Kong, Gateway For Asian Foreign Investment

KUALA LUMPUR, Nov 29 (Bernama) -- CSOP Asset Management Limited (CSOP) has announced the listing of CSOP Saudi Arabia ETF, the first exchange traded product in Asia Pacific (APAC) tracking the Saudi Arabian equity market.

According to CSOP in a statement, it has the opportunity to work with the Public Investment Fund (PIF) on this new venture, opening up a gateway and a unique opportunity for Asian foreign investment and access to Saudi’s dynamic and diversified equity market.

A global, long-term, impactful investor and catalyst of change, PIF plays a critical role in unlocking opportunities to accelerate economic growth and CSOP brings Saudi Arabia’s wealth of investment opportunities to the doorstep of investors in Asia.

“We are excited and honoured to bring to Hong Kong Asia’s first Saudi Arabia ETF, taking the first step in connecting the capital markets between HK and Saudi.

“CSOP has always been dedicated to enriching Hong Kong’s ETF ecosystem, and we endeavour to keep bringing interesting and differentiated products to our clients in the region,” said CSOP Chief Executive Officer, Chen Ding.

CSOP Saudi Arabia ETF tracks the FTSE Saudi Arabia Index, providing exposure to more than 50 leading large and mid-cap companies listed on Tadawul, Saudi Arabia's stock exchange.

The ETF comprehensively covers sectors including financials, basic materials, energy and telecommunications, capturing the drivers of Saudi Arabia’s economy while providing diversified exposure.

CSOP Saudi Arabia ETF is a physical ETF that adopts a combination of physical and synthetic representative sampling strategy, investing up to 100 per cent of its net asset value in a representative portfolio of securities that collectively has a high correlation to the FTSE Saudi Arabia Index, to achieve its investment objective.

The ETF will list with an initial investment of over US$1 billion, making it the largest Saudi Arabia ETF globally, and it has a listing price at around HKD78 per unit, trading lot size of 10 units and annual management fee of 0.99 per cent. (US$1=RM4.64)

-- BERNAMA

GHD ADVISORY RESEARCH IDENTIFY OBSTACLES PREVENTING ORGANISATIONS FROM IMPLEMENTING SUSTAINABILITY PLANS

KUALA LUMPUR, Nov 29 (Bernama) -- GHD Advisory, a professional services company, has published the results of its global corporate sustainability research to uncover what is holding organisations back from executing their sustainability strategies, ahead of the 28th Conference of Parties (COP28).

According to a statement, GHD Sustainability Monitor 2024: From Ambition to Action research found that the scale of sustainability ambition is unnerving for most organisations and the gap between intention and action is significant.

While a promising 97 per cent of executives believe that their sustainability agenda is adding commercial value, more than 50 per cent of executives feel that economic uncertainty has reduced or significantly reduced commitments and actions.

“The GHD Sustainability Monitor 2024 reveals the barriers which help to identify practical and tangible ways to overcome challenges and close the gap between ambition to action through new levels of engagement, collaboration and action,” said GHD Advisory Executive General Manager, Richard Fechner.

GHD is attending COP28 with a strong on-the-ground presence and programme of activity across the blue and green zones, as well as Climate Action’s Sustainable Innovation Forum.

Among findings from the research show that 95 per cent of executives said sustainability is central to their organisation’s vision and strategy. Executives cited less confidence in integrating sustainability strategy across internal stakeholders.

In addition, 79 per cent of executives believed a moderate to significant gap exists between what they are trying to achieve and what has been implemented. The need for a step-change in external and internal stakeholder collaboration is seen as a hurdle.

Also highlighted, 75 per cent of executives said there are fundamental contradictions in the sustainability agenda with for-profit companies working towards making a positive impact while furthering the bottom-line.

The report also outlines five ways to expedite immediate sustainability action including actualise sustainability; lead with social engagement; prioritise corporate sustainability regulation; and tackle Scope 3 emissions.

The global research examines the state of corporate sustainability involving 550 executives across the United Arab Emirates, United Kingdom, United States, Canada, New Zealand, Australia, and India.

-- BERNAMA

XOOX Leads Pet Networking Services Arena With Innovative Features

KUALA LUMPUR, Nov 22 (Bernama) -- XOOX, a pet networking service (PNS) application featuring short-form content challenges, launched this month, has won over global pet owners.

According to a statement, XOOX commenced its service with an advertisement in New York's Times Square, underscoring its exclusive focus on its four-legged companions.

It operates uniquely under pet accounts through Pet ID registration devised by its global research and artificial intelligence teams, including veterinary experts worldwide, utilising innovative biometric identification techniques such as eyelid patterns and eye wrinkles.

In XOOX, pets become influencers through their IDs, boosting visibility by sharing their daily lives, engaging with followers, and participating in short-form content challenges, earning points for various activities, usable in connected apps, while pet owners, known as Petlers, manage their pets' IDs and support them in their activities.

Its Technical Advisor, Peter Kim said XOOX aimed to create a positive space where modern individuals can escape from complicated reality and connect with their pets.

“XOOX will allow pets to create more memories with their Petlers by utilising a storyscaping approach and unique and informative services,” he said.

The world of XOOX is full of exclusive content for pets, with its most popular music app, XOOX M lets Petlers to select music that suits the pet's preferences, as well as for pets waiting for their owners, currently hosts over 3,000 songs.

At the same time, Petlers can also create and upload their own music, earning points for popularity, which can be spent by their pets, with XOOX M ensuring a pet-friendly listening experience at a comfortable decibel level.

In celebration of the launch, XOOX is giving away 10,000 free urine test kits to account holders worldwide, in which the test kits detect illnesses through animal urine, making them ideal for pets in areas with limited access to veterinary care.

With XOOX empowering pets to play a central role in our world, there is a strong belief that it will significantly contribute to creating a more supportive and pet-friendly environment.

-- BERNAMA

TDCX Q3 PROFIT RISES TO US$23.2 MLN

KUALA LUMPUR, Nov 22 (Bernama) -- TDCX Inc, an award-winning digital customer experience (CX) solutions provider profit surged to US$23.2 million in the third quarter (Q3) ended Sept 30, 2023, from US$22.7 million in the corresponding quarter last year, primarily driven by cost optimisation efforts, lower tax and higher interest income. (US$1=RM4.66)

In a statement, TDCX said however, its total revenue dropped 5.4 per cent to US$119.8 million from US$126.6 million previously.

The revenue was primarily driven by a decrease in revenue from content, trust and safety services; omnichannel CX solutions services rendered partially offset by an increase in revenue from sales and digital marketing services.

Its Chief Executive Officer and Founder, Laurent Junique said this quarter, the company welcomed new clients including a global airline based out of Asia and one of the world’s most popular mobile messaging apps, which are testament to the sector expertise it has built in travel and hospitality as well as social media platforms.

“We are also seeing results from our efforts to diversify our client base. Our revenue from clients outside the top five has increased 51 per cent year-on-year.

“I am confident that the steps we have taken to enhance our value to our clients and to increase our efficiency will position us strongly for the long term,” he said.

Among the third quarter business highlights, TDCX recorded strong client growth, with client count up 31 per cent year-on-year (YoY), bringing total client count to 94 as of Sept 30 compared with 72, same period last year.

The company has also improved revenue diversification in which revenue from clients outside the top five rose 51 per cent YoY, while revenue mix from top five clients lowered to 71 per cent in third quarter this year, from 82 per cent in the same quarter, last year.

Headquartered in Singapore, TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, build customer loyalty and protect their online communities.

-- BERNAMA

RSPO MARKS TWO DECADES OF IMPACT, REAFFIRMS PARTNERSHIPS FOR NEXT 20

KUALA LUMPUR, Nov 22 (Bernama) -- The Roundtable on Sustainable Palm Oil (RSPO) marked a special milestone at its Annual Roundtable conference (RT2023), to reflect on nearly two decades of impact made possible via the collaborative efforts of its members and partners.

Themed “Partners for the Next 20”, the RT2023 presented an opportunity to take unified action on the core challenges facing the sustainable palm oil industry, including mitigating climate change, increasing uptake of certified sustainable palm oil (CSPO), and protecting labour rights.

RSPO Chief Executive Officer, Joseph D’Cruz in his opening remarks said through nearly two decades of voluntary action, its members have banded together to raise the bars of sustainability within the industry.

“The impact we have collectively achieved is increasingly being acknowledged by stakeholders outside our industry, and we are seeing a definite shift in the sustainable palm oil narrative in our favour,” he added.

In a statement, RSPO highlighted its key achievements over the last two decades, including the increase in global certified area from just 125,000 hectares in 2008 to 4.9 million hectares across 23 countries this year.

The CSPO supply reached a new milestone at 15.4 million metric tonnes, while RSPO Trademark licences have increased significantly to more than 1,600 licences in over 100 countries and territories, with growth seen in China, Japan and Southeast Asia, signalling significant opportunities in these markets.

In addition, the RSPO Smallholder Support Fund (RSSF) has provided US$4.2 million in funding to support 44,203 farmers in 12 countries since 2013. (US$1=RM4.66)

Charting new territory, RSPO’s Certification, Trade and Traceability System (CTTS), launched last month with the formation of the tripartite consortium of global agri-tech experts, exemplifies how the organisation is advancing and digitising its tracking and traceability systems into an end-to-end digital infrastructure.

For nearly 20 years, the RSPO has facilitated global change to make the production and consumption of palm oil sustainable, with 200 members from 16 countries in 2004, and now grown more than 5,700 members in over 100 countries and territories globally.

-- BERNAMA

AM Best To Join IFRS 17-Related Panel At Hong Kong Actuary Symposium

KUALA LUMPUR, Nov 21 (Bernama) -- AM Best Senior Director of Analytics Christine Lee will join a panel discussion on International Financial Reporting Standards (IFRS) 17 and its impact on insurance companies at the Actuarial Society of Hong Kong’s Appointed Actuary Symposium.

According to the credit rating agency in a statement, the session taking place on Nov 30 in Hong Kong will focus on what changes the IFRS 17-era will bring to the insurance industry.

Topics will include how insurers are approaching the new accounting standard and how IFRS 17 impacts AM Best’s rating assessments on insurance companies.

Based in AM Best’s Hong Kong office, Lee is responsible for rating analytics of insurers in the Northeast Asia region, covering Greater China, Japan and Korea. She also is a Fellow of the Actuarial Society of Hong Kong and the Casualty Actuarial Society.

The symposium, which will be held at The Langham and is by invitation only, covers topical issues and challenges actuaries face, as well as the evolving financial and regulatory landscape.

Headquartered in the United States, AM Best is a news publisher and data analytics provider specialising in the insurance industry, in addition to being a global credit rating agency.

-- BERNAMA

PINGPONG AT SFF 2023: KEYS TO SUCCESSFULLY NAVIGATING THE RISKS IN A VOLATILE GLOBAL MARKET

 How cross border payment companies can empower businesses 

SINGAPORE, Nov 20 (Bernama-GLOBE NEWSWIRE) -- PingPong, a global payment platform, announced several significant milestones and achievements in advancing the cross-border payments industry during the Singapore Fintech Festival 2023.

The event featured an insightful keynote address by PingPong’s CEO of Global Businesses, David Messenger, sharing strategies for enterprises navigating the dynamic global macroeconomic and business landscapes and a strategic partnership announcement with MODIFI, a Fintech leader in digital trade finance.

Keynote Address: Navigating Global Complexity

David Messenger, CEO of Global Businesses for PingPong, shared strategies to protect, manage, and grow cross-border enterprises amid uncertainties. Addressing volatility, regulatory changes, and evolving supply chains, Messenger stressed the importance of technology combined with local teams, and most importantly, strong local connections with valued partners. He emphasized the need for quick adaptation to changing FX and legal landscapes.

Global Payment Network: Partnering for Mutual Growth

PingPong highlighted its capability to partner with enterprises worldwide, seeking world-class global partners in Singapore and Southeast Asia for mutual growth. This approach emphasizes the platform's adaptability to diverse needs and its commitment to fostering partnerships globally.

Major Payment Institution (MPI) Approval by MAS

PingPong recently secured approval as a Major Payment Institution in Singapore by the Monetary Authority of Singapore (MAS). This allows PingPong to offer a comprehensive range of payment services, facilitating faster global expansion for local businesses.

David Messenger, CEO of Global Businesses for PingPong, stated, "These announcements underscore our commitment to empowering businesses globally. From protecting against uncertainties to driving digital trade, PingPong is at the forefront of reshaping cross-border transactions and financing."

Adaptation and Innovation in a Changing Landscape

PingPong supports customers in adapting to the new geopolitical and economic conditions, demonstrating the ability to adapt and change to take advantage of market opportunities. Messenger highlighted the human and people aspects, emphasizing the need for fintechs to marry the power of technology with being local, people-driven companies. Investment in, and development of strong ties with the right local partners is essential for sustained success.

About PingPong

Founded in 2015, PingPong is a leading global technology company. The PingPong ecosystem is built on the vision that empowers cross-border digital commerce to grow. Our one-stop innovative, secured, compliant and comprehensive suite of products includes e-commerce payment, B2B trade payment, acquiring service, card issuing, FX management, supply chain financing, enterprise solutions, and more.

Over the years, PingPong has accommodated business flows from over 200 markets and regions. Our tested and proven global infrastructure has processed over US$100 billion in transaction volume and connects over 100 international e-commerce marketplaces and ecosystem partners, as well as over 100 international financial institutions.

For media inquiries, please contact:

Jason Madhosingh
sff@pingpongx.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35749124-21ce-440f-a1fe-424ea9583dd6 

SOURCE : PING PONG GLOBAL HOLDINGS LIMITED

VESTA, STRIPE ALLIANCE SAFEGUARDS BUSINESSES FROM FRAUDULENT TRANSACTIONS

KUALA LUMPUR, Nov 17 (Bernama) -- Vesta has announced a partnership with Stripe, a financial infrastructure platform for businesses, to enable a comprehensive fraud prevention and risk protection solution that indemnifies merchants from losses from fraudulent transactions.

“Vesta and Stripe share a goal of making online transactions as simple and worry-free as possible, and collaborating with Stripe allows Vesta to directly reach more merchants with what we love to do, help them grow revenue and eliminate the losses from fraud,” said Vesta Chief Executive Officer, Ron Hynes.

Under the partnership, Vesta Payment Guarantee, which provides 100 per cent indemnification from fraudulent chargebacks, will incorporate Stripe Radar risk scores to offer a comprehensive fraud and revenue protection option to increase transaction approval rates and thwart first-party and third-party chargebacks.

According to a statement, this is particularly attractive to merchants who are at-risk due to high fraud or excessive disputes, and they can access Vesta Payment Guarantee on Stripe App Marketplace in the first half of  2024.

Second, Vesta will integrate Stripe Connect, which lets businesses facilitate purchases and payments between third-party buyers and sellers, in which Vesta merchants and their customers will have a holistic solution that mitigates fraud and risk while processing payments quickly and securely.

A global transaction guarantee platform delivering unparalleled approval rates and a frictionless customer experience while eliminating chargebacks and other forms of digital fraud, Vesta brings a deep understanding of the world’s most serious threats and challenging markets.

-- BERNAMA

AI Influence Prompts 'hallucinate' As Cambridge Dictionary Word Of The Year 2023

KUALA LUMPUR, Nov 15 (Bernama) -- The Cambridge Dictionary, the world’s most popular online dictionary for learners of English has revealed ‘hallucinate’ as the Word of the Year for 2023, as the term got a new additional definition relating to artificial intelligence (AI) producing false information.

AI hallucinations, also known as confabulations, sometimes appear nonsensical. But they can also seem entirely plausible, even while being factually inaccurate or ultimately illogical, and have already had real-world impacts.

The traditional definition of hallucinate is “to seem to see, hear, feel, or smell something that does not exist, usually because of a health condition or because you have taken a drug”.

The new, additional definition is “When an artificial intelligence (a computer system that has some of the qualities that the human brain has, such as the ability to produce language in a way that seems human) hallucinates, it produces false information”.

In a statement, Cambridge Dictionary’s Publishing Manager, Wendalyn Nichols said: “The fact that AIs can ‘hallucinate’ reminds us that humans still need to bring their critical thinking skills to the use of these tools.

“At their best, large language models can only be as reliable as their training data. Human expertise is arguably more important, and sought after, than ever, to create the authoritative and up-to-date information that LLMs can be trained on.”

The news follows a year-long surge in interest in generative AI tools like ChatGPT, Bard and Grok, with public attention shifting towards the limitations of AI and whether they can be overcome.

AI tools, especially those using large language models (LLMs), have proven capable of generating plausible prose, but often do so using false, misleading or made-up ‘facts’. They ‘hallucinate’ in a confident and sometimes believable manner.

Beyond hallucinate, several additions reflect rapid developments in AI and computing, such as prompt engineering; large language model; GenAI; train; and black box.

Several other words experienced spikes in public interest and searches on the Cambridge Dictionary website. They included implosion; ennui; grifter; and GOAT (abbreviation for Greatest Of All Time).

-- BERNAMA

AI-MEDIA TO SHOWCASE CUTTING-EDGE CAPTIONING TECH AT GLOBAL MEDIA CONGRESS

ABU DHABI, United Arab Emirates, Nov 14 (Bernama-GLOBE NEWSWIRE) -- The Global Media Congress is scheduled to take place in Abu Dhabi, UAE, from November 14 to 16, 2023, following its successful 2022 edition. This year, AI-Media,  will play a central role as the live caption and translation provider, offering advanced solutions to enhance the live event experience.

In today's world, events like the Global Media Congress provide a valuable platform for media professionals to connect, discover trends, and collaborate. Ensuring that the content reaches a diverse, international audience is crucial, and AI-Media's technology is making this more achievable than ever.

James Ward, Chief Sales Officer, AI-Media, commented about the event:

“I am thrilled to see AI-Media's innovative captioning and translation solutions take centre stage at the Global Media Congress. Our technology is not just a game-changer; it's a bridge-builder, enabling diverse audiences to connect seamlessly and engage in a global conversation. We're proud to contribute to making events like this more accessible, inclusive, and internationally connected."

AI-Media's Innovative Solution Features:

· Remote Translation to 5 UN Languages: AI-Media's technology can seamlessly translate content from English into five United Nations languages: Arabic, French, Russian, Chinese, and Spanish. This capability eliminates language barriers and promotes inclusivity.

· Audio Translation on the Same Stream: In addition to text translation, AI-Media offers real-time audio translation, allowing attendees to listen to content in their preferred language, enhancing engagement.

· Accessibility for All: In-venue attendees can access live translated content from their own smartphones or web devices through the event app. This simple solution makes events more accessible and engaging for all participants.

Expanding Reach and Enhancing Satisfaction:

AI-Media's captioning and translation technology goes beyond convenience; it broadens the reach of events and broadcasts. Offering multilingual content and real-time translation can significantly increase global reach and satisfaction levels, creating more immersive experiences for all.

AI-Media's LEXI captioning and translation solutions are at the forefront of making events like the Global Media Congress more accessible, inclusive, and globally connected. By overcoming language barriers, AI-Media facilitates cultural exchange and shared knowledge.

For inquiries about how AI-Media can enhance your next event or broadcast with inclusive, multilingual content, visit AI-MEDIA.TV 

http://mrem.bernama.com/viewsm.php?idm=47497

Mobvista Q3 Revenue Surges To US$269.37 Mln

KUALA LUMPUR, Nov 16 (Bernama) -- Mobvista, a global marketing and technology company, has released its financial results for the third quarter (Q3 2023), showcasing further growth and profitability with a 25.9 per cent year-over-year (YoY) increase in revenue to US$269.37 million. (US$1=RM4.69)

In a statement, the company said its net revenue grew substantially to US$73.32 million, marking a 34.8 per cent YoY increase, while gross profit followed suit, expanding by 35.1 per cent YoY to US$55.50 million.

Meanwhile, revenue from Mintegral, Mobvista's programmatic advertising subsidiary, surged to US$255.42 million, marking a 28.2 per cent YoY growth, bolstered by a 5.6 per cent quarter-on-quarter increase.

“This quarter's remarkable financial achievements underscore Mobvista's commitment to innovation and growth. Our significant revenue increase, especially in programmatic advertising through Mintegral, is a testament to our strategic investments in machine learning and intelligent bidding technologies,” said its Chief Executive Officer and Co-founder, Clement Cao.

Mintegral has successfully reduced unit server costs by adopting cloud-native technologies and continuously improving its algorithms.

Additionally, Mintegral has proven its ability to diversify revenue streams across multiple app categories. Notably, midcore and hardcore gaming segments have become significant, comprising 31.8 per cent of Mintegral's total revenue in the third quarter of this year.

Mintegral has also continued to strengthen its client growth and retention in which the retention rate of its traffic publishers was 93.5 per cent, with a 15.7 per cent increase in new publishers.

Additionally, the number of partnered apps increased by 23.6 per cent and Mintegral has also reported an increase in its client base, with 493 customers contributing over US$100,000 in the last 12 months.

With its range of tailored solutions, Mobvista provides a complete suite of advertising and analytics tools for app developers and marketers seeking global growth.

-- BERNAMA

RAKUTEN CARD'S SYSTEMS DEVELOPMENT SUBSIDIARY IN VIETNAM RELOCATES TO NEW, EXPANDED OFFICE

 - Increasing productivity through an open office environment, as systems development work continues to grow.

- Photos and other digital assets available for media here: https://rak.box.com/s/p0wbv8tjj9hmavigta4dde51dtuxfuh5

TOKYO, Nov 14 (Bernama-BUSINESS WIRE) -- Rakuten Fintech Vietnam Co., Ltd., a systems development subsidiary of Rakuten Card Co., Ltd. today announced the company has relocated to a new location in Ho Chi Minh City as of November 13 to enable the company to further increase personnel and expand business operations, in response to growing systems development work.

Rakuten Card established Rakuten Fintech Vietnam as a development center in October 2021 with the goal of driving sustainable growth, accelerating systems development for its expanding service lineup and supporting business continuity planning for the IT systems that form the foundation of Rakuten Card’s services. The Vietnamese government has implemented significant measures to support the development of human resources in the IT industry, heightening expectations over the long-term for securing and deploying top-tier tech talent within Vietnam. In addition, the minimal time zone difference between Japan and Vietnam is ideal for rapid response to business needs in Japan.

Since its establishment, Rakuten Fintech Vietnam has hired local IT engineering talent to develop services for consumer-facing apps, as well as systems for affiliate stores and business automation tools for boosting operational efficiency. As the company’s operations continue to expand, it has relocated to a new office building to strengthen the organization through a new open office structure that inspires communication and provides an optimal work environment for employees. 

http://mrem.bernama.com/viewsm.php?idm=47506

PANTHEON BROADENS WEALTH OFFERING WITH OPEN-ENDED PRIVATE EQUITY FUND

KUALA LUMPUR, Nov 14 (Bernama) -- Pantheon, a global private markets investor, has announced the upcoming launch of the Pantheon Global Private Equity Fund (PGPE), the latest addition to the firm’s growing global private wealth platform.

According to Pantheon in a statement, PGPE is an open-ended, evergreen fund that seeks to provide private and institutional investors with unique exposure to a diversified private equity portfolio through a single investment.

Pantheon Managing Director and PGPE Portfolio Manager, Victor Mayer said Pantheon continued to innovate to meet increasing demand from an array of private and institutional investors to access the best opportunities across private markets.

“PGPE offers a compelling solution that combines diversified access to US and European mid-market private equity and immediate participation to achieve a target allocation through a single investment, without the high investment minimums and long capital lock-ups typical in traditional funds,” he said.

PGPE will soon be available to investors in over 20 countries outside of the United States (US), with a differentiated offering that leverages Pantheon’s established global private equity platform to construct a high-conviction portfolio concentrated in high-quality, hard-to-access assets and fund managers, with a focus on the mid-market.

The fund will harness the firm’s extensive and often-proprietary deal flow in secondaries and co-investments, which are increasingly compelling for investors given potentially attractive secondary pricing and efficiency in fees.

PGPE is managed by Pantheon, which has more than 40 years of experience across private markets, with specialised expertise in private equity, real assets and private credit, among others.

-- BERNAMA

DARK HORSE CONSULTING GROUP APPOINTS JOHN NG AS APAC OFFICE GENERAL MANAGER

KUALA LUMPUR, Nov 14 (Bernama) -- Dark Horse Consulting Group (DHC), a global consultancy to the cell and gene therapy (CGT) industry, has established an official foothold in the Asia Pacific (APAC) region, an area representing more than one third of CGT globally, by bringing on industry veteran John Ng as General Manager of its new APAC office.

“As Dark Horse Consulting continues to expand, a natural next step was to ensure that we had local expertise and support for our clients in the APAC region, which is the fastest-growing part of the world for CGT.

“John’s extensive experience and impressive track record fits well with our model of accelerating progress for our clients by providing deep and differentiated CGT expertise,” said DHC Founder and Chief Executive Officer, Anthony Davies in a statement.

Meanwhile, Ng said: “As a former client myself, I am excited for this opportunity to extend DHC’s exceptional services to a broader group of APAC clients. I look forward to growing DHC's presence in APAC to better serve this important and growing region for the CGT industry.”

Most recently, Ng served as Chief Technical Officer (CTO) of Tessa Therapeutics, a Singapore-based clinical-stage biotechnology company that was developing a portfolio of autologous and allogeneic cell therapy assets, and it grew from 30 employees to more than 200 during his seven-year tenure.

As CTO, Ng was responsible for the Operations organisation, which includes Manufacturing, Process Development, Quality, Programme Management, Engineering, and Global Supply Chain.

Before Tessa Therapeutics, he served in various leadership roles in Technical Operations in publicly listed companies, and also spent 10 years in China, responsible for Procurement, Global Supply Chain, and Programme Management.

Ng, a native Singaporean, holds a Bachelor of Engineering from the National University of Singapore, and is fluent in both English and Mandarin Chinese.

-- BERNAMA

Humanitarian Zannah Bukar Mustapha Wins Global Citizen Award

KUALA LUMPUR, Nov 10 (Bernama) -- Internationally recognised humanitarian, philanthropist, and founder of the Future Prowess Foundation School for orphans and less privileged children Zannah Bukar Mustapha has been named the 2023 recipient of the Global Citizen Award.

According to a statement, this award is an annual tribute presented by international residence and citizenship advisory firm Henley & Partners, in partnership with the Swiss nonprofit humanitarian organisation Andan Foundation.

Henley & Partners Chairman and Andan Foundation Founder, Dr Christian H. Kaelin said as a champion for the safety and education rights, Mustapha has demonstrated vision, exceptional courage, and innovation in driving change and his actions and outlook are a valuable contribution towards a more just, peaceful, and tolerant world.

“He is a true ‘game changer,’ bridging gender, political, and religious divides by helping children on both sides of the conflict come together and learn under the same roof. We need more Zannah Mustaphas in the world,” said Kaelin.

Meanwhile, thanking Henley & Partners and the Andan Foundation for their recognition of his work, Mustapha said: “Humanity’s interconnectedness in the global data sphere is now undeniable, constituting an expansive realm with limitless possibilities. In contrast, the unity among races, ethnicities, and citizens has grown increasingly delicate. Only global citizenship can heal.”

Mustapha played a critical role in mediating the release of over 100 of the Chibok school girls in a remote part of Nigeria in April 2014, giving rise to the international #BringBackOurGirls campaign, in which the school he founded in 2007 provides free education, meals, uniforms, and healthcare to the children.

The Global Citizen Award selection process is based on a majority decision of the Global Citizen Award Committee. The award itself consists of a bespoke sculptural medal designed by leading Italian artist Antonio Nocera, an award certificate signed by the Chairman of the Global Citizen Award Committee, and a monetary prize of US$25,000, which goes towards supporting the awardee’s humanitarian efforts. (US$1=RM4.72)

In addition, Henley & Partners commits to working closely with the awardee for a period of one year, raising awareness of their work and supporting the selected project through the firm’s network of more than 40 offices worldwide.

The prestigious award, which honours an individual who shows exceptional courage and commitment towards improving and supporting the global community, was presented at a gala reception during the 17th annual Global Citizenship Conference at the Shangri-La Hotel DIFC in Dubai, United Arab Emirates.

-- BERNAMA

RECURSION ACCELERATES SHIFT TO TECHBIO FROM BIOTECH WITH NEW, UPDATED COLLABORATIONS

KUALA LUMPUR, Nov 10 (Bernama) -- Recursion, a clinical stage TechBio company, announced two significant updates with their collaborators NVIDIA and Bayer, and a new collaboration with Tempus Labs as it creates infrastructure and expands its ambitions and scope in the precision oncology space.

In a statement, Recursion co-founder and chief executive officer, Chris Gibson said with Tempus’s 20 petabytes of fit-for-purpose precision oncology data, NVIDIA’s support and updating its collaboration with Bayer, the company will continue to drive the transformation from BioTech to TechBio together.

Recursion has come to an agreement with Tempus for preferred access to one of the world’s largest proprietary, de-identified, patient-centric oncology datasets, to support the discovery of potential biomarker-enriched therapeutics at scale through the training of causal artificial intelligence (AI) models.

By combining the forward genetics approach of Tempus with the reverse genetics approach at Recursion, the company believes it has an opportunity to improve the speed, precision and scale of therapeutic development in oncology.

As part of the agreement, Recursion will pay Tempus up to US$160 million in cash or equity over the next five years in exchange for continued and updated data access and use rights for therapeutic development purposes. (US$1=RM4.72)

In aggregate, Recursion will now have access to approximately 50 petabytes of proprietary data across biology and chemistry as well as real-world, patient-centric data that is relatable and fit for the purpose of training large-scale AI/machine learning (ML) models.

Meanwhile, to accelerate the impact of the Recursion’s proprietary data, the company has committed to substantially expanding BioHive-1, its on-premise NVIDIA DGX SuperPOD-based supercomputer.

This greatly expanded compute power will support the company’s pipeline, partnerships, and the construction of one of the largest foundation models of its kind across multiple modalities of biology and chemistry.

Based on the June 2023 TOP500 list, Recursion projects that upon completion and benchmarking, BioHive-1 will likely be in the top 50 most powerful supercomputers worldwide across any industry, owned and operated by any biopharma company, while the company anticipates the enhancement of BioHive-1 to be operational in the first half of 2024.

In addition, Recursion also announced an updated collaboration with its established partner, Bayer, for a select set of precision oncology programmes, allowing Bayer to leverage Recursion’s state-of-the-art capabilities to identify novel targets and chemistry applicable to oncology indications.

-- BERNAMA

China’s ZhongAn Credit Ratings Affirmed - AM Best

KUALA LUMPUR, Nov 10 (Bernama) -- Global credit rating agency AM Best has affirmed China’s ZhongAn Online P&C Insurance Co Ltd (ZhongAn) Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent).

In a statement, AM Best said these credit ratings (ratings) which have a stable outlook, reflected ZhongAn’s balance sheet strength which was assessed as very strong, as well as its marginal operating performance, favourable business profile and appropriate enterprise risk management.

The very strong balance sheet strength assessment is underpinned by the company’s risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio, with its capital and surplus including minority interest reaching 17.03 billion Chinese yuan (US$2.46 billion), as of year-end 2022. (US$1=RM4.72)

AM Best assesses ZhongAn’s operating performance as marginal. The company’s non-life underwriting performance has been improving over the past five years, with stabilisation of its loss ratio and expense ratio in 2021 and 2022 and achieving underwriting profit for both years.

Going forward, AM Best expects the company’s earnings will continue to be subject to uncertainties arising from investment volatility, as well as the business execution risk and timeline in the turnaround strategies of the banking and technology segments.

The rating agency views ZhongAn’s business profile as favourable and as of 2022, the company maintained 1.6 per cent market share in terms of direct premium written and was ranked ninth in China’s non-life market.

ZhongAn is the first online-only non-life insurance company in China, in which AM Best views the company as an innovative industry leader, which provides solid support of the rating agency’s business profile assessment.

The company’s revenue from technology has achieved substantial growth over the years with an enlarging client base, and AM Best expects it to continue benefitting from its innovative capability and to integrate such capability into its insurance operations.

-- BERNAMA

LRN ELEVATES LEARNING EXPERIENCE WITH NEW VERSIONS OF FUNDAMENTAL ETHICS & COMPLIANCE COURSES

New Courses and Microlearnings Offer Enhanced Design, Feel and Learner Experience Going Beyond Core Training

NEW YORK, Nov 8 (Bernama-BUSINESS WIRE) -- LRN Corporation, the leader in ethics and compliance (E&C) solutions that enable organizations to inspire principled performance, has today announced the release of all-new versions of two of its most popular E&C courses, as well as the release of 20 new microlearning courses that enable the creation of comprehensive learning campaigns and further develop its extensive course library.

Traditional compliance training courses lack aspects to engage learners, resulting in lower enthusiasm and retention. Employing a more creative approach to learning, the new Anti-Harassment and Discrimination and Code of Conduct courses are designed to enhance engagement and reduce learner fatigue, setting a new industry standard for e-learning. These courses boast a visually striking look and feel, dynamic and memorable visuals, relatable characters and realistic scenarios that mirror the modern work environment and delve into the complexities of real-world situations.

In addition, LRN has released new microlearning courses on topics that include giving and receiving gifts, cyberbullying, generative AI, privileged access, workplace politics, anti-trust issues, conflicts of interest and phishing. They supplement a number of other microlearning courses released earlier this year on bribery and corruption, diversity, equity and inclusion, and sexual harassment. These additional microlearning courses are less than 10 minutes and will enable organizations to create highly engaging and customized training programs that go far beyond just the initial foundational training. 

http://mrem.bernama.com/viewsm.php?idm=47457

MATMERIZE SECURES DOD AWARD TO DEVELOP LOW-FLAMMABILITY POLYMER COMPOSITE MATERIALS USING ADVANCED AI METHODS

ATLANTA, Nov 8 (Bernama-GLOBE NEWSWIRE) -- Matmerize, Inc., an industry leader in Polymer & Formulations Informatics proudly announces its selection by the US Department of Defense (DOD) for a Small Business Innovation Research (SBIR) contract aimed at advancing AI methodologies for accelerating the design of novel low-flammability polymer composite materials. Matmerize is excited about the transformative potential of this project as it will not only enhance fire safety for Navy ships and submarines, but will also find applications in a wide range of industries, including construction, aerospace, automotive and consumer products. This award comes at the heels of another SBIR recently awarded to Matmerize by the National Science Foundation (NSF) to develop physics-informed and physics-enforced machine learning architectures to advance materials development.

The flammability of polymer composites is quantified by a set of quantitative parameters, typically measured using highly standardized instruments/tests defined by the American Society for Testing and Materials (ASTM) and other agencies. Desirable polymeric materials that meet the specific values of ASTM and non-ASTM standardized tests require an optimal combination of base polymers, functional additives, flame retardants, and processing conditions. Matmerize will collaborate with DOD to develop a Polymer Informatics capability using suitable curated data and advanced AI/ML techniques, aimed at the accelerated design of low-flammability polymer matrix composites that meet other critical mechanical and thermal performance targets needed by the Navy.  

http://mrem.bernama.com/viewsm.php?idm=47452

Mojaloop Foundation To Explore Data Sovereignty At Singapore Fintech Festival 2023

KUALA LUMPUR, Nov 8 (Bernama) -- The Mojaloop Foundation announced its participation in a Singapore Fintech Festival 2023 panel discussion, taking place on Nov 15, which is open to all attendees.

Titled Empowering Emerging Nations in Achieving Data Sovereignty and Financial Inclusion, the session will be moderated by Mojaloop Foundation Executive Director, Paula Hunter and will include panellists from the Bill & Melinda Gates Foundation and the Monetary Authority of Singapore (MAS).

Panellists include Bill & Melinda Gates Foundation Deputy Director Financial Services for the Poor, Kosta Peric; and MAS Chief FinTech Officer, Sopnendu Mohanty.

Hunter said the integration of 1.4 billion financially excluded individuals into the digital economy hinges on the development of interoperable, instant payment systems that unite entire populations.

“During the panel discussion, we will tackle the complexities of creating resilient digital sovereignty frameworks alongside the development of payment systems that improve financial inclusion, accessibility, and security.

“By delving into cooperative strategies, technological innovations, and open source frameworks, we can propel financial inclusion through payment systems that empower both digital sovereignty and universal access to financial services,” she said in a statement.

The session will examine the rising apprehension concerning digital sovereignty and the potential for digital and data colonialism in emerging economies across Africa and Asia as they work to bring digital financial services to all.

Operates as a charitable nonprofit organisation, Mojaloop Foundation’s mission is to increase financial inclusion by empowering organisations creating interoperable payment systems to enable digital financial services for all.

-- BERNAMA

H2O.ai Kicks Off Open Source GenAI World Event

KUALA LUMPUR, Nov 8 (Bernama) -- The open source leader in Generative artificial intelligence (AI) and machine learning, H2O.ai, has responded to the overwhelming community and customer interest in bringing H2O World back to the San Francisco Bay Area.

In a statement, H2O.ai said this year’s gathering is the first in a series of GenAI World events that showcased insights and advancements to further democratise GenAI.

Highlights of the event and announcements include live demonstrations and booths on H2O GenAI App Store and Enterprise h2oGPTe built with the world’s best Retrieval Augmented Generative AI (RAG).

Among other highlights were customer talks from Wells Fargo, Citi, ADT, Commonwealth Bank of Australia, and one of the largest consumer packaged goods (CPG) companies worldwide discussing topics ranging from the future of GenAI to leveraging large language models (LLM) to create personal bots.

There were also hands-on workshops to teach users how to make their own generative pre-trained transformers (GPTs) using H2O LLM Studio to fine tune, prompt tune, evaluate, and apply guardrails in making safe GenAI apps.

On the other hand, team H2O LLM Studio won first place in the 2023 Kaggle LLM Science exam competition using RAG.

In the last year, sold-out H2O World events have been held in New York, London and San Francisco and attended by thousands representing over 30 countries and every industry.

Founded in 2012, H2O.ai has a vibrant community of two million data scientists worldwide, and aims to bring together the world’s top data scientists with customers to co-create GenAI applications that are usable and valuable by everyone.

-- BERNAMA

H&H GROUP Q3 TOTAL REVENUE RISES BY 11.9 PCT

KUALA LUMPUR, Nov 3 (Bernama) -- Global health and wellness company, Health and Happiness (H&H) International Holdings Limited (H&H Group) total revenue increased by 11.9 per cent year-on-year (yoy) on a reported basis (10.9 per cent on a like-for-like (LFL) basis) to 10.2784 billion Chinese yuan. (100 Chinese yuan = RM64.80) for the nine months ending Sept 30.

In a statement, H&H said the solid third quarter (Q3) revenue growth fuelled by nutritional supplements category contributed to the positive overall result.

Staying on course for its full-year 2023 targets, the company’s Q3 progress was primarily fuelled by robust sales in Adult and Pet Nutrition & Care in mainland China, Australia and New Zealand, and North America.

New H&H Group Chief Executive Officer, Camillo Pane said in the first nine months ending September 2023, the group has achieved its targeted LFL net revenue growth and is on track for debt reduction in the short to medium term.

“Our strong mix of iconic brands, a motivated team, a robust innovation pipeline, our sustainability programme and strategic focus on key categories position us well to become a global leader in premium wellness and nutrition, driving long-term profitability,” added Pane.

The group’s nutritional supplements revenue grew by 31.4 per cent year to date (YTD) 2023 on LFL basis and remain its strongest revenue generator, contributing 61.4 per cent to total revenue, a clear endorsement of H&H’s strategic focus on its Baby, Adult and Pet Nutritional supplements.

On the other hand, the Baby Nutrition & Care (BNC) segment experienced a 9.7 per cent decline during this period, largely due to industry challenges in mainland China.

It has been strategically enhancing the international footprint of its infant milk formula (IMF) business by launching innovative products to build recognition and trust, by rolling out 'Inostime' in France, a game-changing IMF series enriched with Lactopontin, a crucial component of breast milk, this quarter.

H&H Group anticipates continued challenges in its BNC segment, while expecting a strong growth trajectory for its Adult Nutrition and Care (ANC) and Pet Nutrition and Care (PNC) segments, which consistently show sustained positive consumer acceptance.

Mainland China continues to be a pivotal market for the group, accounting for 70.7 per cent of overall revenue and marking a 6.9 per cent yoy growth in YTD, while the Australia and New Zealand market posted robust double-digit growth of 25.7 per cent in the first nine months, attributed to its success in both domestic and export channels as well as its innovative approach to product development.

-- BERNAMA

TOMORROW.BLUE ECONOMY TO EMBARK ON A SUSTAINABLE FUTURE

KUALA LUMPUR, Nov 1 (Bernama) -- Tomorrow.Blue Economy (TBE) is scheduled to take place for three days beginning Nov 7, at Fira de Barcelona's Gran Via venue to seize the opportunities and challenges of blue economy sector, key for the future of the planet.

According to a statement, the event organised by Fira de Barcelona, aims at promoting and developing the potential of the blue economy and encouraging the preservation of marine and ocean resources as an engine for economic growth.

In its second edition, TBE will gather experts, scientists, companies, start-ups and institutions to share solutions and experiences to advance along this path based on innovation, in an interdisciplinary approach and through public-private collaboration.

The programme will address topics such as climate change, finance, offshore energy, water management, biodiversity, green shipping, smart ports, recreational boating, tourism and careers in the blue economy sector.

According to the United Nations, the blue economy is estimated to contribute US$1.5 trillion to the global economy, it generates over 30 million jobs and supplies a vital source of protein to over three billion people.(US$1=RM4.76)

Tomorrow.Blue Economy, Tomorrow.Mobility, Tomorrow.Building and PUZZLE X are held alongside Smart City Expo World Congress, in which all the events together are expected to gather more than 1,000 exhibitors, over 800 cities and 140 countries, and 600 speakers.

-- BERNAMA

SYNCHRONOSS PERSONAL CLOUD DEPLOYED BY SOFTBANK

KUALA LUMPUR, Oct 31 (Bernama) -- Synchronoss Technologies Inc (Synchronoss) announced that SoftBank Corp (SoftBank), one of Japan’s largest telecommunication carriers, has deployed Synchronoss Personal Cloud to power its Anshin Data Box service.

According to a statement, Anshin Data Box allows customers to backup and restore photos, videos, and files stored on mobile phones and other devices.

Additionally, the platform’s artificial intelligence features provide the capability to optimise low resolution photos and create new types of content through a series of effects and stylisers.

Synchronoss President and Chief Executive Officer, Jeff Miller said: “We continue to empower telecom operators and mobile service providers with strategic tools to improve customer value.

“This new Cloud launch with SoftBank further extends our long-standing relationship with them and our presence in Japan. It also reinforces our cloud-first strategy, which represents new growth opportunities for the Synchronoss Personal Cloud platform.”

SoftBank’s Anshin Data Box will include 500 gigabytes of storage per month, in addition to which the personal cloud service will be integrated into new devices, allowing customers to easily activate it during the onboarding process.

It will be available in November across multiple distribution channels, and SoftBank will also deliver Anshin Data Box through its retail stores and digital buy flow.

A global leader and innovator in cloud, messaging, and digital products and platforms, Synchronoss builds software that empowers companies worldwide to connect with their subscribers in trusted and meaningful ways.

-- BERNAMA