NEARFIELD INSTRUMENTS SECURES REPEAT ORDERS FOR QUADRA METROLOGY SYSTEM

KUALA LUMPUR, Dec 23 (Bernama) -- Nearfield Instruments, a pioneer in advanced process control metrology solutions, announced it has received repeat purchase orders for its flagship QUADRA High-Throughput Process Control Metrology System.

According to a statement, this follow-up order highlights the company’s increasing market traction and its success in penetrating high-volume manufacturing operations.

Nearfield Instruments chief executive officer, Hamed Sadeghian remarked that the repeat order is a testament to the system’s performance, reliability, and its essential role in supporting high-volume manufacturing.

He emphasised that the order reinforces the trust customers have in Nearfield to support their production objectives, and with the 2025 order book now full, the company remains committed to delivering innovative solutions that enhance manufacturing efficiency and yield.

The QUADRA system offers cutting-edge capabilities for in-line process control by Nearfield’s high-throughput AFM metrology technologies that deliver highly accurate, non-destructive 3D measurements of critical semiconductor parameters.

By providing real-time feedback on critical device structures, the system provides good correlation to device yield and enables manufacturers to maintain high yields and optimal performance in their production lines.

The system’s exceptional throughput allows manufacturers to quickly and accurately analyse large numbers of devices without compromising measurement precision, ensuring both efficiency and quality in the production process.

This repeat order from a leading semiconductor manufacturer highlights the growing confidence in the QUADRA platform as the industry advances to next-generation technologies.

The continued adoption of QUADRA systems by leading manufacturers further strengthens Nearfield Instruments’ position as a driving force in advanced process control metrology for mass production.

-- BERNAMA

Japan's Nippon Life Credit Ratings Stay Unaffected After Acquiring Resolution Life, Says AM Best

KUALA LUMPUR, Dec 17 (Bernama) -- Global credit rating agency, AM Best has commented on the financial strength rating of A+ (superior) and the long-term issuer credit rating of “aa-” (superior) of Japan’s Nippon Life Insurance Company (Nissay).

In a statement, AM Best said these ratings remain unchanged following the announcement of the acquisition of Resolution Life Group Holdings Ltd (Resolution Life) on Dec 11.

Nissay has entered into an agreement to acquire full ownership of Resolution Life, a global insurance group specialising in the acquisition and management of life insurance portfolios, which mainly operates in the United States, Australia and Bermuda.

The transaction will consolidate Nissay’s existing equity interest in Resolution Life, resulting in a wholly owned subsidiary, with the total consideration for this acquisition expected to be approximately US$8.2 billion (1.2 trillion Japanese yen). (US$1=RM4.44)

The transaction is subject to customary closing conditions, including required regulatory approvals, and is expected to close in the second half of 2025.

As part of the transaction, Nissay has reached an agreement with National Australia Bank Limited to acquire the remaining 20 per cent equity stake in MLC Life Insurance (MLC) for approximately AUD$500 million (50 billion Japanese yen).

Post-acquisition, Nissay intends to integrate MLC with Resolution Life Australia Limited, aiming to enhance market presence within the Australian life insurance sector.

AM Best expects the acquisition transaction to have a limited impact on Nissay’s balance sheet strength assessment at the current strongest level, considering the group’s large capital size relative to the scale of the acquisition, although there could be moderate erosion of the group’s risk-adjusted capitalisation.

The company’s absolute capital amounted to US$62 billion (9.4 trillion Japanese yen) as of Sept 2024, and upon completion, the acquisition is expected to deliver immediate profit contributions.

Moreover, AM Best expects the acquisition to support Nissay’s strategic objectives by enhancing business diversification across geographies for sustainable growth in the global life insurance market.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF NEWGT REINSURANCE COMPANY, LTD.

HONG KONG, Dec 12 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NEWGT Reinsurance Company, Ltd. (NEWGT) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

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

NEWGT’s balance sheet strength is well-supported by its risk-adjusted capitalisation, which is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). As of the fiscal year ended on 31 March 2024, NEWGT’s capital and surplus increased by 21% mainly from increased retained earnings, with no dividend upstream made during the period. The company has a moderate level of reinsurance dependency; however, its exposure to potential credit risk is mitigated partially by a high-quality and well-diversified reinsurance panel.

NEWGT’s operating performance has been consistently positive during the most recent five-year period. For the fiscal year ended 31 March 2024, the gross premium and net premium earned from ITOCHU Corporation (ITOCHU)-related business, remained relatively flat as its premium income became normalized from the strong growth in the previous year while its underwriting profit showed improvement with favourable loss experience during the period. Notwithstanding the moderate volatility in the major lines of marine cargo business due to the impact of commodity price fluctuations, AM Best expects that NEWGT’s operating performance will remain profitable over the intermediate term given the company’s prudent underwriting practices and reinsurance programmes.  

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Kioxia CM7 Series NVMe SSD Obtains FIPS 140-3 Level 2 Validation

 

KIOXIA CM7 Series PCIe 5.0 NVMe Enterprise SSD (Photo: Business Wire)

KUALA LUMPUR, Dec 11 (Bernama) -- Kioxia Corporation, a world leader in memory solutions, has announced the cryptographic module used in KIOXIA CM7 Series PCIe 5.0 NVMe Enterprise solid-state drives (SSDs) has been validated to meet the Federal Information Processing Standard (FIPS) 140-3, Level 2 for cryptographic modules.

The FIPS 140-3 standard specifies a set of security requirements of the Cryptographic Module Validation Program administered by the National Institute of Standards and Technology (NIST), used as a security metric for federal agencies to procure validated information technology equipment.

According to Kioxia in a statement, this latest standard surpasses the previous FIPS 140-2 requirements by offering stronger authentication methods and updated implementation guidelines.

SSDs meeting FIPS 140-3 requirements are now more attractive to companies and federal agencies seeking to comply with stringent security regulations.

Kioxia brought PCIe 5.0 technology to server and storage applications with the KIOXIA CM7 Series NVMe SSD.

Targeted at enterprise applications and use cases, including artificial intelligence, high-performance computing, online transaction processing database, and data warehousing, KIOXIA CM7 Series drives bring enterprise performance, reliability and security to data centre servers and storage.

These SSDs are available in both 2.5-inch and E3.S form factors, with capacities ranging from 1.6 terabytes (TB) to 30.72 TB, and offer various security features such as sanitise instant erase (SIE), TCG Opal self-encrypting drive (SED), and SED utilising FIPS 140-3 Level 2 module.

-- BERNAMA

AM BEST UPGRADES CREDIT RATINGS OF PROVIDENT INSURANCE CORPORATION LIMITED

SINGAPORE, Dec 12 (Bernama-BUSINESS WIRE) -- AM Best has upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bb+” (Fair) of Provident Insurance Corporation Limited (PICL) (New Zealand). The outlook of these Credit Rating (ratings) has been revised to stable from positive.

The ratings reflect PICL’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

The rating upgrades reflect the material and sustained improvement in PICL’s risk-adjusted capitalisation over recent periods. The company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), was at the very strong level as of fiscal year-end 2024. Prospectively, AM Best expects PICL’s risk-adjusted capitalisation to remain at least at the strong level over the medium term, supported by its internal capital generation, which takes into account planned partial share redemption and its business growth targets. Other positive balance sheet strength factors include the company’s conservative investment strategy and robust regulatory solvency position. An offsetting balance sheet strength factor includes exposure to long-duration policies that increases reserving risk; however, PICL takes a prudent reserving approach and has a history of reserve adequacy.

AM Best views PICL’s operating performance as adequate. PICL’s operating performance continues to be supported by its positive underwriting performance and robust investment returns. The company recorded a return-on-equity ratio of 15.2% and a combined ratio (net/net, IFRS 17) of 96.9% in fiscal-year 2024, as calculated by AM Best. PICL has made significant investments in its information technology and pricing capabilities in recent periods to support its next phase of accelerated growth, which resulted in an elevated expense ratio in year-end 2024. Prospectively, the expense ratio is expected to normalise.

AM Best assesses PICL’s business profile as limited. This reflects the company’s relatively modest scale of operations and limited geographical diversification, with all business emanating from New Zealand. PICL is a niche insurer that focuses on mechanical breakdown insurance and private motor vehicle insurance, largely distributed through motor dealerships and distribution partners across its domestic market. PICL is exposed to a moderate level of pricing risk arising from its multi-year policies, largely its mechanical breakdown insurance.

AM Best assesses PICL’s ERM as appropriate, given the size and complexity of its operations. AM Best views the successful execution of the company’s growth plan to be an ongoing risk. To date, this risk has been mitigated through investments in internal capabilities and technology. Prospectively, AM Best expects PICL’s risk management capability to continue to develop and strengthen, supporting its increasing operational scale.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Chee Yun
Associate Financial Analyst
+65 6303 5019
chee.yun@ambest.com

Victoria Ohorodnyk
Director, Head of Analytics
+65 6303 5020
victoria.ohorodnyk@ambest.com

Christopher Sharkey
Associate Director, Public Relations
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Source : AM Best

--BERNAMA

Malaysia’s Lonpac Insurance Receives Excellent Ratings from AM Best

KUALA LUMPUR, Dec 12 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of “a” (excellent) of Malaysia’s Lonpac Insurance Bhd (Lonpac).

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

Lonpac’s risk-adjusted capitalisation was at the strongest level at year-end 2023, as measured by Best’s Capital Adequacy Ratio, and is expected to remain at this level over the near to medium term. During the past five years (2019-2023), the company has demonstrated strong capital growth from retained earnings, taking into account the high dividend payout ratio over this period.

In addition, Lonpac has a generally conservative investment portfolio comprising cash, bonds and debt-focused unit trust funds. However, AM Best considers the company to have a moderate dependence on third-party reinsurance to support the underwriting of large-limit risks and manage its catastrophe exposures.

In December this year, Public Bank Berhad (PBB) acquired a 44.15 per cent stake in LPI Capital Bhd (LPI), Lonpac’s ultimate parent, from the estate of the late founder, Tan Sri Teh Hong Piow and Consolidated Teh Holdings Sdn Bhd, making PBB the largest shareholder of LPI. It is AM Best’s view that the transfer of shares will have a neutral impact on the credit rating fundamentals of Lonpac.

Lonpac’s operating performance is strong, supported by robust underwriting results, particularly in the property and bond sectors. Low net loss experience and favorable reinsurance commission income in recent periods have supported strong technical profitability.

Whilst AM Best expects the company to maintain its strong operating performance over the medium term, the elevated cost of reinsurance, as well as the ongoing phased liberalisation of motor and fire insurance pricing in Malaysia, may constrain underwriting margins over the near to medium term.

AM Best views Lonpac’s business profile as neutral, as it is a medium-size non-life insurer in Malaysia, with a market share of approximately seven per cent, based on 2023 gross written premium. The company’s underwriting portfolio is diversified moderately by line of business, albeit with the majority of business originating from Malaysia.

Lonpac benefits from a long-standing relationship with Public Bank Berhad, which provides the company with preferential access to profitable property business through the banking channel.

-- BERNAMA

QIANHAI FORUM ON HIGH-QUALITY DEVELOPMENT OF SHENZHEN-HONG KONG MODERN SERVICE INDUSTRIES

SHENZHEN, China, Dec. 10, 2024 /Xinhua-AsiaNet/--

On December 6, the Qianhai Forum, themed "New Situation, New Reform, and New Action: Shenzhen-Hong Kong Cooperation to Build a Hub for High-Quality Development of Modern Service Industries", kicked off in Qianhai, Shenzhen. The Forum consisted of a main forum, four parallel forums on financial opening-up and innovation, Shenzhen-Hong Kong technological innovation, rule of law related to foreign affairs, and new cultural industries, as well as a series of strategic events on upgrading the pilot free trade zone. Over 100 representatives from Hong Kong SAR and Macao SAR, industry leaders, and renowned experts gathered in Qianhai to explore the latest developments in the cooperation zone.
 
Maintaining a vibrant momentum for development
 
With institutional innovation at its core, Qianhai is steadily expanding institutional opening-up in terms of rules, regulations, management, and standards. To this end, Qianhai has launched a total of 882 institutional innovation achievements. With the modern service industry as its primary sector, Qianhai is vigorously facilitating the construction of 18 industrial clusters. Statistics released by the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone at the forum show that, in the first three quarters of 2024, its GDP grew by 8.2% and its import and export volume increased by 50.1%. This has indicated a vibrant momentum for development. 
 
Qianhai is systematically upgrading the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub. In cooperation with universities such as the University of Hong Kong, Hong Kong Polytechnic University, and City University of Hong Kong, a wide variety of innovation and entrepreneurship projects have been incubated at the Hub. Overall, Qianhai has aimed to become a leading area for deep integration between Shenzhen and Hong Kong. 

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HONG KONG'S CHINA TAIPING INSURANCE RATINGS AFFIRMED EXCELLENT - AM BEST

KUALA LUMPUR, Dec 10 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of “a” (excellent) of Hong Kong's China Taiping Insurance (HK) Company Limited [CTPI(HK)].

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

According to AM Best in a statement, the ratings also incorporate the rating enhancement that CTPI(HK) receives from its parent, China Taiping Insurance Holdings Company Limited (CTIH).

As measured by Best’s Capital Adequacy Ratio, CTPI(HK)’s very strong balance sheet strength is underpinned by its risk-adjusted capitalisation, while its capital and surplus improved by 2.4 per cent to HKD 5.3 billion (US$679 million) in 2023 as evaluated under the HKFRS 17 accounting standard. (US$1=RM4.42)

The company has maintained a healthy regulatory solvency ratio under the Hong Kong risk-based capital framework, with a healthy buffer over the regulatory minimum, in addition to its invested assets allocation remained largely consistent in 2023 and during the first half of this year.

AM Best assesses CTPI(HK)’s operating performance as adequate and over the past decade, the company has stayed profitable with the exception of 2020, when its performance was dragged by a sizeable impairment loss from private funds.

According to AM Best calculations, the company’s overall underwriting performance has been improving since 2019, with its IFRS 17 combined ratio remaining below 100 per cent last year. Its net investment income remains robust with a mid- single-digit investment yield not including gains or losses, owing to income-generating invested assets including bonds and investment properties.

A strategically important overseas operating subsidiary of China Taiping Insurance Group Ltd (TPG), CTPI(HK) plays a vital role in TPG’s footprint overseas and its strategy in the Greater Bay Area.

The company is integrated into the group’s capital management and ERM while also receiving a series of implicit support from TPG, including brand recognition, investment, reinsurance and operations.

-- BERNAMA

PACIFIC PRIME CXA BAGS ALLIANZ COMMERCIAL'S PLATINUM AWARD FOR EXCELLENCE IN PROPERTY & CASUALTY

 

Pacific Prime’s P&C team wins Allianz Commercial’s Platinum Award for Excellence in Property & Casualty (Photo: Business Wire)

KUALA LUMPUR, Dec 6 (Bernama) -- Pacific Prime CXA, a global insurance brokerage and employee benefits specialist, was awarded the Platinum Award for Excellence in Property and Casualty by Allianz Commercial.

The award, presented by Allianz Insurance Singapore chief executive officer, Hicham Raissi, recognised Pacific Prime CXA’s outstanding performance in delivering property and casualty (P&C) insurance solutions to its clients.

Pacific Prime CXA Head of Property, Casualty & Financial Lines, Gautam Mahey shared his enthusiasm and gratitude upon receiving the prestigious award, emphasising its significance for his team and the company as a whole.

“This recognition goes beyond a mere accolade, it represents the relentless dedication, passion, and commitment that drive us every day.

“To my extraordinary team, this award is a testament to your creativity, resilience, and the tireless effort you've put into building something remarkable from the ground up,” he said in a statement.

Mahey also extended his gratitude to clients, partners, and Allianz for their continued trust and support, noting that the award is just the beginning of its journey, serving as a reminder that with courage, perseverance, and belief, anything is possible.

P&C insurance has become one of the fastest-growing sectors for Pacific Prime globally, offering seamless solutions for both individuals and corporations. Pacific Prime CXA remains dedicated to delivering a smooth and efficient insurance experience tailored to meet the unique needs and risks of its clients.

The company expressed sincere gratitude to Allianz Commercial for acknowledging its dedication to providing insurance solutions that offer peace of mind to their shared clients and for the efforts of all their employees.

Pacific Prime CXA has over 1,000 employees and 15 offices worldwide, including Hong Kong (China), Singapore, China, Thailand, Malaysia, the United Arab Emirates, Indonesia, the United Kingdom, the United States, Mexico, the Philippines, and Australia.

-- BERNAMA

AM Best Affirms Petrolimex Insurance Ratings With Stable Outlook

KUALA LUMPUR, Dec 6 (Bernama) -- Global credit rating agency, AM Best has affirmed Vietnam’s Petrolimex Insurance Corporation (PJICO) financial strength rating of B++ (good), the long-term issuer credit rating of “bbb” (good), and the country National Scale Rating (NSR) of aaa.VN (exceptional).

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

PJICO’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio.

The company’s prospective risk-adjusted capitalisation is expected to be supported by good internal capital generation, taking into account its planned business growth, as it maintains a conservative investment strategy, with a majority of its investments held in cash and term deposits.

The company also relies moderately on reinsurance for its underwriting capacity for large property and engineering risks, as well as to manage accumulation risks and catastrophe exposure, which is partly mitigated by the good credit quality of the reinsurance panel.

AM Best assesses PJICO’s operating performance as adequate, evidenced by a five-year weighted average return-on-equity and combined ratios of 12.7 per cent and 96.9 per cent (2019-2023), respectively, as calculated by the credit rating agency.

The company’s overall earnings remain driven by a stable stream of investment income. However, PJICO posted thinner underwriting margins in 2023, mainly due to higher loss ratio in the health insurance business.

While underwriting profits from commercial lines including property and marine cargo businesses have typically benefitted from low net loss ratios and good reinsurance commission income, the elevated expense ratio continues to be an offsetting factor.

The recent Typhoon Yagi, which hit Vietnam in the third quarter of this year, may lead to greater volatility in PJICO’s underwriting performance over the near term, though the impact is expected to be mitigated by its reinsurance programme.

The rating agency considers PJICO’s business profile as neutral. The company’s business profile benefits from its common branding and preferential access to cargo business arising from its largest non-majority shareholder, Vietnam National Petroleum Group.

-- BERNAMA

AI-Media Secures 5-Year Deal With CME To Enhance Accessibility In Central, Eastern Europe

KUALA LUMPUR, Dec 5 (Bernama) -- AI-Media, a global leader in artificial intelligence (AI)-driven live and recorded captioning and language technology, has announced a strategic five-year agreement with Central European Media Enterprises (CME), its first major deal in Central and Eastern European.

AI-Media will deliver live captioning services via its state-of-the-art LEXI solution, powered by its SDI encoder network, across CME’s six flagship television stations located in Croatia, Slovenia, Bulgaria, Romania, Czechia, and Slovakia.

Under this multi-year agreement, AI-Media will provide AI-generated live captions for each station, catering to CME’s goal of advancing accessibility and meeting its environmental, social, and governance (ESG) objectives.

AI-Media Vice President of International Sales, John Peck said CME’s commitment to accessibility is aligned with AI-Media’s vision.

“This partnership with CME is an exciting milestone, representing our first major broadcaster in Eastern Europe and results in millions of CME viewers receiving increased access to content via our LEXI captioning solution in six distinct languages.

“We look forward to supporting CME as they drive accessibility across Central and Eastern Europe,” he said in a statement.

Meanwhile, CME Head of Social Purpose and Sustainability, Hana de Goeij said: “Our research indicates that over 10 per cent of viewers in our markets have some form of hearing difficulty. By addressing the needs of people with impairments, CME ensures equal access to information and entertainment for all, regardless of ability.”

CME’s decision to implement live closed captioning is motivated by both strategic and legislative priorities. This move aims to establish a new standard for accessibility in regions with limited access to human captioning resources, furthering its broader mission of promoting inclusivity and reaching a larger audience.

AI-Media’s future-proofed products empower CME to expand its accessibility offerings, setting a new benchmark for inclusivity in broadcasting, making a lasting impact on millions of viewers across the region.

-- BERNAMA

BOOMI PLATFORM ENHANCES KALYRA’S CLIENT CARE, WORKFORCE EFFICIENCY

(Graphic: Business Wire)

KUALA LUMPUR, Dec 4 (Bernama) -- Boomi, a leader in intelligent integration and automation, announced that Kalyra has used the Boomi Enterprise Platform to enhance data-informed client care, launch new digital services, and fast-track workforce onboarding and productivity as part of its broader client experience-led transformation.

With over 130 years of operation, Kalyra, a prominent provider of aged care services in South Australia, has taken significant steps in its digital transformation to enhance client experience and streamline human resources by centralising data across previously disconnected systems.

In a statement, Boomi Chief Technology Officer, APJ, David Irecki said automating and integrating Kalyra’s core processes gives the organisation’s workforce the ability to focus more on delivering the compassionate, high-quality care its clients have come to rely on.

Meanwhile, Kalyra General Manager of Information and Digital Services, Nicole Fishers said accuracy in the digital systems is non-negotiable in providing quality care, as the company faced challenges with outdated and duplicate data, which slowed down care delivery.

“We turned to Boomi to break down our data silos, paving the way for a new era of digital support services,” she said.

By implementing Boomi’s integration platform as a service (iPaaS), Kalyra connected its core business systems through a hub-and-spoke model, including Elmo (human resources), AlayaCare (home care system), iCare (residential care system), CarePage (customer experience system), and My Kalyra (mobile app).

Through the integration, Kalyra launched the My Kalyra app, giving families real-time access to service updates, the ability to adjust care schedules, and full transparency in financial details. This digital transformation has led to better accuracy in client data, reducing inefficiencies for staff who now have instant access to all necessary information.

Boomi’s platform also improved Kalyra’s workforce management by streamlining onboarding processes, reducing errors, and speeding up staff hiring. Additionally, Kalyra’s enhanced data framework ensures better reporting and compliance with regulatory standards.

Looking ahead, Kalyra is gearing up to leverage even more of the Boomi Enterprise Platform’s capabilities to harness the growing potential of artificial intelligence and robotics in improving health services.

-- BERNAMA

EXP REALTY'S INITIATIVE LINKS AGENTS WITH LOCAL SPONSORS FOR A GAME-CHANGING EXPERIENCE

KUALA LUMPUR, Dec 3 (Bernama) -- eXp Realty, the largest independent real estate company and core subsidiary of eXp World Holdings Inc, has launched its Local Sponsor Partnership Program.

This innovative initiative is designed to enhance local expertise while fostering global growth for eXp Realty agents, according to a statement.

eXp World Holdings Founder, Chairman and Chief Executive Officer, Glenn Sanford said the programme empowers its agents with the resources and mentorship needed to succeed in their local markets while growing globally.

“This programme represents the essence of eXp Realty’s commitment to agent success by providing a collaborative framework that drives innovation, growth and local expertise.

“This is more than a programme, it is a movement toward empowering agents with the tools and mentorship they need to lead locally and achieve unparalleled success globally,” he said.

The programme addresses the need for in-country support by pairing eXp agents with experienced Local Sponsors in their respective markets, while they provide hands-on guidance to ensure agents successfully implement eXp Realty's cutting-edge tools and thrive in their local real estate landscapes.

For agents with an international sponsor, the Local Sponsor Partnership Program ensures they receive personalised, in-country support to navigate their markets effectively.

The programme also opens opportunities for experienced eXp agents to become Local Sponsors, enabling them to lead locally and earn level-one revenue share earnings from their sponsee’s transactions.

With this new initiative, eXp Realty agents can now benefit from a robust support system that strengthens local leadership and fosters collaboration across global markets.

-- BERNAMA

FORTUDE EXPANDS PARTNERSHIP WITH INFOR TO BOOST GROWTH IN ANZ AS CHANNEL PARTNER

KUALA LUMPUR, Nov 29 (Bernama) -- Fortude, a global digital solutions company has been appointed an Infor Channel Partner for Australia and New Zealand (ANZ), marking a significant expansion of its long-standing partnership with Infor.

According to Fortude in a statement, the company has the potential to exponentially grow its business by entering the channel network space.

For over a decade, Fortude has been an Infor Alliance Partner, helping businesses in the region implement, optimise and successfully manage their Infor solutions.

“This expanded partnership allows us to deliver comprehensive end-to-end software and services from solution design to delivery, ensuring you get the full benefit of Infor’s powerful tools across ERP, supply chain, financials, and more.”

“Our new role as a Channel Partner enables us to provide a complete experience for a customer’s specific business needs, helping optimise operations, improve performance, and accelerate growth,” said Fortude Chief Revenue Officer for APAC, Cameron Greening.

Meanwhile, welcoming Fortude as a channel partner for ANZ, Infor Senior Vice President and General Manager, Asia Pacific and Japan, Terry Smagh expressed enthusiasm about Fortude's expanded role, highlighting the importance of strategic collaborations for Infor’s growth in the region.

Smagh explained Fortude’s expertise in vertical industries, such as food & beverage, manufacturing, and distribution, complements Infor’s multi-tenant CloudSuites with GenAI and industry-specific automation.

Fortude has worked with many long-standing customers such as Australian dairy giant Bega, ForestOne and Patties Foods, and now plans to scale its offering and broaden its experience through this channel space.

The expansion into the channel partner space further underscores the company’s continued commitment to delivering customer value, complementing its ongoing investments in services, solutions and artificial intelligence (AI) technology.

-- BERNAMA

TELEDYNE LAUNCHES Z-TRAK 3D APPS STUDIO SOFTWARE TOOLS FOR IN-LINE 3D MEASUREMENT AND INSPECTION

 WATERLOO, Canada, Nov 27 (Bernama-GLOBE NEWSWIRE) -- Teledyne DALSA is pleased to introduce Z-Trak™ 3D Apps Studio, a suite of software tools developed for in-line 3D machine vision applications. Designed to work with Teledyne DALSA’s Z-Trak family of laser profilers, it simplifies 3D dimensional measurement and inspection tasks on production lines. Capable of handling 3D scans of objects with varied surface types, sizes and geometric features, Z-Trak 3D Apps Studio is ideal for factory automation applications across a wide range of industries including electric vehicles (EV batteries, motor stators etc.), automotive, electronics, semiconductors, packaging, logistics, metal fabrication, lumber, and many more.

Z-Trak 3D Apps Studio features streamlined tools for measuring object thickness, inspecting glue-beads, weld seams, and identifying defects on flat, inclined, and curved surfaces on machined, assembled, or extruded parts. It also includes anchoring and data enhancement features like reflection elimination to ensure reliable and repeatable results under diverse operating conditions.

Teledyne’s Z-Trak family of laser profilers features various multi-sensor topologies to enhance the field of view while preserving height resolution, to overcome occlusion, or to provide a 360° view of objects for inspection and measurements. Z-Trak 3D Apps Studio simultaneously acquires, processes, and analyzes 3D scans and 2D gray scale images (reflectance data) all with 3D visualization capabilities.

For easy integration and quick deployment, the Z-Trak 3D Apps Studio is accessible via Sherlock 8.30 (or higher), a field proven, no-code, graphical development environment for factory floor applications. Z-Trak 3D laser profilers include a Sherlock 8 license for in-line measurement applications.

For more details, please visit the product page, and for sales enquiries, visit our contact page.

Teledyne Vision Solutions offers the world’s most comprehensive, vertically integrated portfolio of industrial and scientific imaging technology. Aligned under one umbrella, Teledyne DALSA, e2v CMOS image sensors, FLIR IIS, Lumenera, Photometrics, Princeton Instruments, Judson Technologies, Acton Optics, and Adimec form an unrivalled collective of expertise across the spectrum with decades of experience and best-in-class solutions. Together, they combine and leverage each other’s strengths to provide the deepest, widest sensing and related technology portfolio in the world. Teledyne offers worldwide customer support and the technical expertise to handle the toughest tasks. Their tools, technologies, and vision solutions are built to deliver to their customers a unique and competitive advantage.

Media Contact

Jessica Broom
Jessica.broom@teledyne.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5799ec0e-e23c-43ca-ac8f-7980811c661a 

SOURCE : Teledyne DALSA

Recursion-Exscientia Merger Creates Advanced AI-driven Drug Discovery

KUALA LUMPUR, Nov 21 (Bernama) -- Recursion has completed its merger with Exscientia, making Exscientia a wholly owned subsidiary of Recursion, forming a vertically-integrated and technology-enabled drug discovery platform.

As part of the merger, Exscientia American Depositary Shares (ADSs) will cease trading and be delisted from Nasdaq, according to a statement.

Recursion Co-Founder and Chief Executive Officer (CEO), Chris Gibson expressed confidence that the combination of the two companies' teams and platforms will position them as the leader in artificial intelligence (AI)-enabled drug discovery and development space.

Meanwhile, Exscientia Interim CEO and former Chief Scientific Officer (CSO), who will now serve as CSO at Recursion, David Hallett said their combined strength of real-world proprietary data and the models created are redefining the space by shrinking timelines and costs, identifying and optimising lead candidates faster than traditional methods.

The combined entity's pipeline includes more than 10 clinical and preclinical programmes, approximately 10 advanced discovery programmes in development, and over 10 partnered programmes in areas such as oncology and immunology.

To date, the combined company has received approximately US$450 million in upfront and milestone payments from partnerships, with the potential for over US$20 billion in additional milestone payments before royalties. (US$1=RM4.70)

With the integration of Exscientia’s chemical design and synthesis methods and over 60 petabytes of proprietary data generated in house or licensed from partners like Helix and Tempus, the combined entity will strengthen the Recursion Operating System (OS) to be a first-in-class and best-in-class drug discovery and development platform.

The merged company will have approximately 800 employees with the headquarters remaining in Salt Lake City, and primary offices in Toronto, Montreal, Milpitas, New York, the Oxford area, and London.

-- BERNAMA

Boomi Enterprise Platform Enhances Pallion Group's Resilience, Customer Experience

 

KUALA LUMPUR, NOV 22 (Bernama) -- Boomi, the intelligent integration and automation leader, announced that Australian precious metals and jewellery company, Pallion Group, has bolstered resilience and customer experience (CX) across its brands by adopting the Boomi Enterprise Platform as the foundation for its data strategy.

According to Boomi in a statement, the platform supports Pallion’s digital transformation, simplifying the integration of its systems and centralising sensitive financial, commercial, and product supply data.

Boomi Chief Technology Officer, APJ, David Irecki emphasised Pallion's role in serving prestigious clients and the need for seamless experiences in high-stakes purchases.

“Its clientele expect seamless experiences when making significant purchasing decisions. Boomi has helped Pallion establish a reliable and resilient technology environment across its brands to optimise CX, all the while supporting the stringent compliance obligations under which the group operates,” he said.

Meanwhile, Pallion Group Chief Information Officer, Simon Smith said the company needed a reliable system due to the dynamic pricing and strict compliance requirements of handling high-value precious metals and jewellery.

Boomi’s integration platform replaced a network of outdated point-to-point systems, improving operational efficiency and data management.

The platform has already been used to connect Pallion’s Microsoft Dynamics 365 enterprise resource planning stack, and its finance and human resources systems, and the company affirms its use of integration platform as a service (iPaaS) will scale up as its digital transformation strategy progresses, while data ingested by Pallion’s systems is already centralised in Boomi DataHub.

Sydney-headquartered Pallion comprises six brands that source, manufacture, distribute, sell, and provide secure storage for gold, silver, and custom jewellery to organisations and individuals in Australia, Hong Kong, and China.

With the Boomi platform, the company has enhanced connectivity between its technology systems, ensuring real-time data flow and providing teams with a consolidated view of customer information.

-- BERNAMA

TOKU SECURES US$5 MLN FUNDING, APPOINTS ADVISORY BOARD CHAIR

KUALA LUMPUR, Nov 21 (Bernama) -- Toku, a provider of enterprise cloud communications and customer experience solutions in Asia Pacific (APAC), has successfully closed a US$5 million Series A Extension round led by Betatron Venture Group. (US$1=RM4.70)

Concurrently, the company has also established an Advisory Board to guide its strategic growth, with the appointment of Lim Hwee Hua as Chair, underscoring Toku’s commitment to strong governance and strategic insight as it scales its operations.

“We are honoured to have Lim join us as Chair of our Advisory Board. Her leadership, depth of experience, and proven strategic vision will be invaluable as we navigate this next stage of growth.

“Her appointment aligns perfectly with our mission to bring high-impact solutions to the market while establishing Toku as a leader in customer experience technology,” said Toku Founder and Chief Executive Officer, Thomas Laboulle, in a statement.

The funding, which included participation from the Hong Kong Innovation and Technology Venture Fund (ITVF) and other investors, brings Toku’s total funding to US$18 million since the launch of its operations in April 2018.

This latest capital infusion will fuel the company’s continued international expansion and advance its proprietary artificial intelligence (AI)-powered solutions in customer engagement.

The recent funding will support the ongoing development of Toku’s AI Chat and AI Voice Agent technologies, designed to deliver enhanced customer interactions across multiple languages and regional dialects.

Targeting revenue above US$30 million for 2024 and maintaining on track to reach net profitability, Toku is set to solidify its presence in APAC with this latest funding, especially through its expansion in Hong Kong, while unlocking opportunities in new regions such as South America and Europe.

By focusing on revenue growth, cost efficiency, and targeted market entry, Toku anticipates becoming cash flow positive in 2025, as it scales to meet increasing demand across these diverse markets.

-- BERNAMA

EXPERTS FOCUS ON GLOBAL INITIATIVES TO DEVELOP GUANGDONG-HONG KONG-MACAO AS INNOVATION HUB

KUALA LUMPUR, Nov 20 (Bernama) -- The Greater Bay Area Science Forum 2024, marking the first time an event co-hosted by the Guangdong Provincial Government, the Hong Kong Special Administrative Region (HKSAR) government, and the Macao SAR government, was held from Nov 16 to 18.

A major topic of discussion at the forum among government officials, international organisations, scientists, and business representatives was the collaborative development of a research powerhouse in the Greater Bay Area (GBA), according to a statement.

Guangdong Province Governor, Wang Weizhong highlighted the progress made over the past five years, including deepened cooperation in institutional frameworks, resource allocation, and major projects.

These efforts have propelled the GBA to the forefront of global technological innovation and talent development. Notably, the "Shenzhen-Hong Kong-Guangzhou" science and technology cluster has been ranked second globally in innovation indexes for five consecutive years.

Meanwhile, HKSAR chief executive, John Lee reaffirmed Hong Kong's central role as a core city within the GBA. He highlighted the city's commitment to complementing the strengths of neighbouring cities and contributing to the region's transformation into an international science and innovation hub.

Macao’s chief executive, Ho Iat Seng emphasised Macao's dedication to scientific innovation and education advancement, particularly its active participation in the "Guangzhou-Shenzhen-Hong Kong-Macao" innovation corridor.

He called for greater collaboration between Macao and the global scientific community to attract top talent, foster emerging industries, and enhance the region's competitiveness.

On the other hand, Nobel laureate Barry J. Marshall shared his decade-long connection with Shenzhen and his collaborative activities in the GBA, expressing optimism about deepening its partnerships in the future.

Additionally, the forum also featured keynote speeches on topics such as emerging productivity, open science, carbon neutrality, artificial intelligence, and life sciences, providing fresh perspectives on technological innovation in the GBA and beyond.

-- BERNAMA

ATTURRA CLAIMS TOP HONOURS ONCE AGAIN AT BOOMI'S 2024 APJ PARTNER AWARDS

KUALA LUMPUR, Nov 20 (Bernama) -- Boomi, the intelligent integration and automation leader, has announced the winners of its 2024 Asia Pacific and Japan (APJ) Partner Awards, recognised at the 2024 APJ Boomi Partner Summit held in Sydney, Australia.

According to a statement, this year’s awards celebrate Atturra, LTIMindtree, and Adaptiv as valued, forward-thinking partners that successfully leverage their Boomi relationships to accelerate business outcomes for customers.

“Our partners across the region are elevating Boomi's capabilities to new heights. With their deep expertise, they are delivering integrated and more secure data environments that not only power automation but also enable data-driven decision-making and enhance customer experiences.

“These awards provide an opportunity for Boomi to honour our esteemed partners and celebrate their incredible work in deepening our brand and delivering on the Boomi promise, and we look forward to continuing this momentum of success with them and all nominees into an exciting year ahead,” said Boomi Vice President of Alliances and Channels, APJ, Jim Fisher.

Atturra snagged three categories, namely APJ Partner of the Year, Australia and New Zealand Partner of the Year, and APJ Services Partner of the Year, while Asia Partner of the Year went to LTIMindtree and Adaptiv rounded out the winners, taking home the APJ Growth Partner of the Year.

The winners were selected based on their ability to fully use the Boomi Enterprise Platform to enable creativity and innovation, address complex challenges, and create positive environmental and social impacts for their customers.

Offering end-to-end, intelligent integration and automation solutions that enable modern, digital organisations to accelerate business outcomes, Boomi serves over 20,000 customers and has a growing user community of more than 250,000 members as well as a worldwide network of approximately 800 partners.

-- BERNAMA

Pantheon Introduces Two Funds To Broaden Private Wealth Offerings

KUALA LUMPUR, Nov 19 (Bernama) -- Pantheon, a global private markets investor, has launched two funds to expand its private wealth offerings across asset classes in key growth markets globally.

These funds, focusing on secondaries investments in private credit and private equity, respectively, capitalise on Pantheon’s leadership and extensive experience in mid-market secondaries investing.

The first fund, AMG Pantheon Credit Solutions Fund (P-SECC), offers United States (US) private wealth investors unique access to private credit secondaries. This evergreen interval fund structure focuses primarily on senior debt investments sourced through Pantheon’s global private credit platform.

It provides institutional-quality secondary opportunities in the private credit market, allowing investors to enter existing private credit funds at potentially attractive prices and returns. Since its introduction in October 2023, P-SECC has grown to more than US$435 million in assets under management, underscoring strong demand for private credit secondaries. (US$1=RM4.46)

Pantheon Partner and Head of US Private Wealth, Michael Hutten said the launch of P-SECC represents a significant milestone in expanding its private wealth offerings with a differentiated solution focused on the growing private credit secondaries market.

“By leveraging our extensive experience and robust platform, we can offer a unique investment opportunity focused on addressing private wealth investors’ concerns around inflation, interest rates, credit defaults and the continued need for enhanced income,” he said in a statement.

Concurrently, Pantheon is also expanding its global footprint with the launch of its Pantheon Global Private Equity Fund (PGPE), a semi-liquid, mid-market secondaries-focused evergreen strategy, currently available in markets across Latin America, Europe and Asia. 

The new fund is available to wholesale investors in Australia through a partnership with Longreach Capital Advisors, offering exposure to Pantheon’s private equity secondaries platform, with a focus on mid-market investments.

Pantheon is a pioneer in both private credit and private equity secondaries, leveraging decades of experience to identify and capitalise on opportunities to access mature, high-quality assets at potentially attractive valuations.

With a range of global evergreen solutions and bespoke funds, Pantheon offers private wealth investors flexibility, diversification, and access to high-quality private market investments. The firm’s deep experience in structuring products for private wealth investors enables Pantheon to create investment vehicles that meet the complex needs of private wealth investors with an ongoing focus on driving long-term value and performance.

-- BERNAMA

AV AIRFINANCE TO STRENGTHEN GLOBAL AIRLINE RELATIONS WITH EXECUTIVE APPOINTMENT

KUALA LUMPUR, Nov 18 (Bernama) -- AV AirFinance Limited (AV AirFinance), a global commercial aviation loan servicer, has appointed Jonathan O’Dowd as Senior Vice President, Investments.

Based in Singapore, O’Dowd will be responsible for credit underwriting and strategic airline relations globally, according to a statement.

AV AirFinance Chief Executive Officer, Stephen Murphy, said the company is delighted to welcome O’Dowd to the AV AirFinance team.

“Jonathan has a strong track record in building and managing airline relationships, and his extensive network will be a great benefit to our expanding direct-to-airline business,” he said.

O’Dowd brings over 14 years of experience in aviation and asset finance. Prior to joining AV AirFinance, he served as Director of Aviation Risk at Castlelake, where he worked on risk and strategic initiatives.

His extensive network and experience in building long-term relationships with airlines have enabled him to source and structure opportunities such as pre-delivery payment (PDP) financings, rated structures, and finance leases.

Headquartered in Dublin, Ireland with offices in the United States and Singapore, AV AirFinance focuses on arranging financing for commercial aircraft to airlines, lessors, manufacturers, cargo operators and investors, secured by new and used commercial aircraft and engines.

-- BERNAMA

AM Best Affirms Excellent Ratings For Malaysia’s Labuan Re

KUALA LUMPUR, Nov 15 (Bernama) -- Global credit rating agency, AM Best has affirmed Malaysia’s Labuan Reinsurance (L) Ltd (Labuan Re) 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 Labuan Re’s balance sheet strength, which was assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Labuan Re’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which is at the strongest level at year-end 2023.

The company adopts a prudent capital management approach to support risk-adjusted capitalisation at the strongest level over the medium term, along with an appropriate regulatory solvency position, with its investment portfolio focused on cash, deposits and fixed-income securities, albeit with modest exposure to higher-risk asset classes such as equities.

Partially offsetting balance sheet strength factors include Labuan Re’s exposure to natural catastrophe risks relative to the size of its capital base, which emanates from its regional reinsurance and international operations through its participation in Lloyd’s syndicates (Lloyd’s).

AM Best views Labuan Re’s operating performance as adequate, in which the company’s earnings were historically driven by investment returns, arising from interest income and gains from its bond and equity investments.

In 2023 and the first half of this year, Labuan Re reported robust operating performance, driven by favourable underwriting results and investment return.

The company’s business profile was assessed as neutral given its position as a well-established regional non-life reinsurer in addition to the company’s business profile continuing to benefit from portfolio diversification through its participation as a corporate member in Lloyd’s.

Despite reduced participation in Lloyd’s business, Labuan Re’s gross premium has exhibited moderate growth, driven by product initiatives and its positioning in the reinsurance market.

-- BERNAMA

CLOUDERA TO ACQUIRE OCTOPAI'S PLATFORM TO DELIVER TRUSTED DATA ACROSS THE ENTIRE HYBRID CLOUD DATA ESTATE

Octopai’s best-in-class data lineage and catalog platform to provide discoverability, quality, and governance for enterprises to enhance data-driven decision making

SANTA CLARA, Calif., Nov 14 (Bernama-GLOBE NEWSWIRE) -- Cloudera, the only true hybrid platform for data, analytics, and AI, announced that it entered into a definitive agreement with Octopai B.I. Ltd. (Octopai) to acquire Octopai’s data lineage and catalog platform that enables organizations to understand and govern their data. The transaction will significantly add to Cloudera’s data catalog and metadata management capabilities.

Enterprises are under increasing pressure to incorporate data-driven decision-making into their business operations. They want to utilize their data for AI, machine learning, and predictive analytics initiatives, requiring a comprehensive data intelligence strategy to find all the relevant, contextual, and trusted data across the company. But for many enterprises—particularly those in finance, healthcare, retail, and telecommunications that deal with highly regulated, sensitive, and voluminous data—having a complete purview of the entire data estate still proves challenging as they require capabilities over multiple data solutions across hybrid environments.

“As data-driven organizations adopt hybrid, distributed data architectures, being able to automatically manage metadata is critical to providing a unified self-service view of the data,” said Sanjeev Mohan, principal analyst at SanjMo. “Unified metadata strategies lead to analytic insights that data consumers trust. They also ensure security, increase governance, and provide a consistent view across the entire data estate. Augmenting Cloudera’s data management, governance, and AI capabilities with Octopai’s enterprise-ready, multi-layered data lineage over 50 data source connectors, and automated metadata management leads to a comprehensive metadata and data intelligence solution.”

Founded in 2016, Octopai transformed the metadata management landscape by leveraging automated data mapping and knowledge graphs to enrich and activate metadata to deliver insights into the data landscape. This, coupled with an intuitive experience and AI copilots, accelerates the use of high-quality data for analytic and AI outcomes. Today, Octopai customers at leading enterprises save time on change or impact analysis, reduce errors and costs in their data operations, and comply with evolving regulations.

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