JAPAN’S NON-LIFE INSURANCE INDUSTRY REMAINS STABLE - AM BEST

KUALA LUMPUR, Jan 31 (Bernama) -- Global credit rating agency, AM Best has maintained a stable outlook on Japan’s non-life insurance industry, citing profitable and stable underwriting and a solid capital base amid financial market uncertainty.

The rating agency’s “Market Segment Outlook: Japan Non-Life Insurance” report notes that insurers’ efforts to enhance the profitability of the fire insurance line also is a factor in the stable outlook.

In a statement, AM Best said losses from large-scale historical catastrophe events have strained the underwriting results of the fire insurance line considerably and contributed to heightened reinsurance costs in recent years.

Consequently, most major domestic non-life insurers have recognised the pressing need to address the sustainability of their fire insurance products, while direct premiums in the fire insurance line grew more than 10 per cent in fiscal year 2022, supported by a rise in premium rates.

Most of Japan’s non-life insurance companies have reported an improvement in premium income in most lines of business over the past year.

AM Best expects that the impact of the January 2024 earthquake in Japan will be manageable relative to the non-life segment’s profit base, as most residential losses are supported by the government.

Although premium trends and profitability for Japan’s non-life market are expected to remain largely stable, uncertainty about Japan’s macroeconomic environment could still pressure the domestic insurance market over the next 12 months.

-- BERNAMA

TRAVEL + LEISURE CO ACQUIRES ACCOR VACATION CLUB TO CONTINUE BRAND PORTFOLIO EXPANSION

Travel + Leisure Co. Continues Brand Portfolio Expansion with Acquisition of Accor Vacation Club (Photo: Business Wire)

KUALA LUMPUR, Jan 31 (Bernama) -- Travel + Leisure Co, the world’s leading membership and leisure travel company, announced an agreement to acquire the vacation ownership business of global hospitality giant Accor for US$48.4 million. (US$1=RM4.72)

In a statement, the travel company said the acquisition is expected to close in the first quarter of 2024 and to be immediately accretive to Travel + Leisure Co earnings upon completion.

Under the terms of the deal, Travel + Leisure Co will acquire Accor’s vacation ownership business, Accor Vacation Club, representing 24 resorts and nearly 30,000 members, and upon deal closing, the Accor Vacation Club business line will report to travel company’s president and managing director of international operations, Barry Robinson who is based in the company’s Singapore office.

Robinson said the company is excited about building on the legacy of Accor Vacation Club, which has been a recognised and respected presence in the region for over 20 years.

“We are a partner of choice for leading hospitality brands because we are able to individually curate their brands and maintain their unique offerings to travellers.

“Utilising our experience and the scale of our global platform, we will be able to accelerate the growth of this vacation club business by delivering outstanding vacation experiences for current and future members,” he said.

The acquisition will create a new line of business for Travel + Leisure Co as Accor is added to the company’s portfolio of brand affiliations, including Wyndham, Margaritaville, and Sports Illustrated.

The addition of Accor Vacation Club to the Travel + Leisure Co international portfolio increases its membership to more than 100,000 in the Asia Pacific region and grows its club resort count by approximately 40 per cent to 77.

Travel + Leisure Co also receives the exclusive rights to develop new vacation ownership clubs and products utilising the Accor Vacation Club brand across Asia Pacific, Middle East, Africa and Turkey regions, while Accor will receive a percentage of vacation ownership sales revenue as a licencing fee under the exclusive licencing agreement.

Accor is the largest international hotel chain in the Asia Pacific with more than 1,600 hotels in operation, giving the brand a distinct advantage in its recognition across the world’s most populous region.

-- BERNAMA

CSOP Nikkei 225 Index ETF Debuts In Hong Kong Stock Exchange

KUALA LUMPUR, Jan 31 (Bernama) -- CSOP Nikkei 225 Index ETF (3153.HK) has been listed on the Hong Kong Stock Exchange, with a listing price of about HKD78 per unit, making it the first Nikkei 225 Index exchange-traded fund (ETF) in Hong Kong.

In order to track the performance of the Nikkei 225 Index, 3153.HK deploys a full replication strategy, with trading lot of 10, and management fee of 0.99 per cent of the ETF’s net asset value per year, receiving an initial investment of US$13 million. (US$1=RM4.72)

CSOP chief executive officer, Ding Chen said as an ETF issuer trusted by investors in the Asia Pacific region, the company has always been committed to providing comprehensive and diversified investment products.

“At present, we manage 48 ETF and ETP products, asset classes across equity, fixed income, commodity futures, thematic investment, money market, and virtual assets.

“The first Nikkei 225 Index ETF listed in Hong Kong by us will further enrich our product line and provide investors with a flexible and transparent channel to invest in the Japan market,” she said in a statement.

Nikkei 225 Index rose by 30 per cent in 2023, making Japan the highest returning stock market among major global markets, and it surged above 34,000 points, at the beginning of this year, setting a new high since March 1990.

This ETF provides a convenient and low-cost trading tool for Hong Kong investors interested in the Japanese market. Nikkei 225 Index includes the 225 most representative stocks listed on the Prime Market of the Tokyo Stock Exchange.

The constituents are selected based on their liquidity in the market and sector balance, including but not limited to industries like technology, consumer goods, industrial materials, and capital goods.

The index is a net total return index, which means that it reflects the reinvestment of dividends or distributions, after deduction of any withholding tax, and is denominated and quoted in Japanese yen.

-- BERNAMA

KFSH&RC-MADINAH RECEIVES PRESTIGIOUS 2023 PRESS GANEY HUMAN EXPERIENCE GUARDIAN OF EXCELLENCE AWARD

RIYADH, Saudi Arabia, Jan 30 (Bernama-GLOBE NEWSWIRE) -- King Faisal Specialist Hospital & Research Centre (KFSH&RC) in Madinah has won the 2023 Human Experience Guardian of Excellence Award by Press Ganey for its exceptional performance in outpatient services throughout the past year. This prestigious recognition honored a distinguished group of healthcare institutions, from approximately 1500 facilities globally, for being amongst the top 5% performers in patient experience in one year.

Through this award, Press Ganey, a leading global organization in measuring and enhancing patient experience, reflects KFSH&RC's commitment to delivering top-tier healthcare solutions and outstanding patient experiences across various healthcare services within an integrated education and research setting.

As a leading institution dedicated to placing the human experience at the core of healthcare, KFSH&RC-Madinah has secured a notable position among the top five percent of accredited healthcare providers, recognized for excellence in patient experience, employee satisfaction, safety, and clinical care quality performance. 

Dr. Nizar Khalifa, GM of KFSH&RC-Madinah, stated: "This achievement is the result of our continuous efforts to prioritize patients, foster positive employee experiences, and achieve effective clinical outcomes, emphasizing our commitment to delivering healthcare excellence to the highest standards, prioritizing both our employees and our community alike." 

The 2023 Press Ganey Award ceremony is set to be announced later in February. As KFSH&RC celebrates this distinction with its dedicated staff, partners, and the community, it reaffirms its ongoing commitment to adopting an approach that focuses on humanity and a patient-centric mindset, aligning with the healthcare transformation program outlined in Saudi Vision 2030, actively contributing to the realization of a healthier and more vibrant society.

King Faisal Specialist Hospital & Research Centre stands among the global leaders in providing specialized healthcare, driving innovation, and serving as an advanced medical research and education hub. Through strategic partnerships with prominent local, regional, and international institutions, the hospital is dedicated to advancing medical technologies and elevating healthcare standards worldwide.

About King Faisal Specialist Hospital & Research Centre (KFSH&RC): 

King Faisal Specialist Hospital & Research Centre (KFSH&RC) stands as a leading healthcare institution in the Middle East, envisioned to be the optimal choice for every patient seeking specialized healthcare. The hospital boasts a rich history in treating cancers, cardiovascular diseases, organ transplantation, neurosciences, and genetics.

In 2023, "Brand Finance" ranked King Faisal Specialist Hospital & Research Centre as the top academic medical center in the Middle East and Africa and among the top 20 globally. Additionally, in 2022, it was recognized as one of the leading global healthcare providers by Newsweek magazine.

As part of Saudi Vision 2030, a royal decree was issued on December 21, 2021, to transform the hospital into an independent, non-profit, government-owned entity, paving the way for a comprehensive transformation program to achieve global leadership in healthcare through excellence and innovation.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/22c5c112-3a86-42fe-9f41-6b58b16e0d06

CONTACT INFORMATION

For more information, please contact:

Essam Al-Zahrani, Senior Media Editor, 0555254429

Abdullah Al-Awn, Senior Media Editor, 0556294232 

Source: King Faisal Specialist Hospital & Research Centre 

http://mrem.bernama.com/viewsm.php?idm=47962

New Mountain Opens Tokyo Office To Strengthen Client Relationships In Japan, Asia

KUALA LUMPUR, Jan 30 (Bernama) -- New Mountain Capital LLC (New Mountain), has announced the opening of its Tokyo office, led by Managing Director and 18-year veteran, Andrew Barous, that will focus on deepening client relationships and expanding the firm’s investor base across Asia.

New Mountain in a statement said investment activity will remain focused on defensive-growth middle-market companies headquartered in North America.

“We are pleased to announce the opening of our Tokyo office to foster our many existing partnerships and relationships and forge new ones in Japan and throughout Asia.

“Our consistent focus on ‘defensive growth’ and business building continues to resonate well with institutional investors in Asia, as well as around the globe, and we look forward to growing our presence here,” said Founder and Chief Executive Officer, Steve Klinsky.

Meanwhile, Barous said the establishment of office in Tokyo represents a significant milestone and that he is honoured to be a part of overseeing this important expansion.

“Creating close and lasting partnerships is our guiding principle in engaging with investors and having a physical presence in Asia is strategically important in providing better service to our partners and showcasing our commitment to the region,” he added.

Since its founding in 1999, New Mountain’s focus on building great businesses across a range of carefully selected, non-cyclical sectors have delivered a consistent track record of strong performance as it has grown to more than 250 people globally with over 20 transaction leaders and 40 operating partners.

The Tokyo office is in Roppongi and officially named New Mountain Capital Japan GK and has secured a Type II Financial Instruments Business Operator Licence.

New Mountain is a New York-based alternative investment firm that emphasises business building and growth as it pursues long-term capital appreciation.

-- BERNAMA

IFE CONFERENCE 10TH EDITION SHARES INSIGHTS ON EDUCATION IN AI ERA

KUALA LUMPUR, Jan 26 (Bernama) -- The 10th edition of the IFE Conference, organised by the Tecnológico de Monterrey’s Institute for the Future of Education (IFE 2024), came to a successful conclusion with more than 4,000 attendees and specialists in educational innovation from over 39 countries.

According to a statement, they discussed and shared ideas on the topic of education in the era of artificial intelligence (AI) and the technological challenges associated with its use.

During the conference, more than 250 simultaneous activities such as conferences, panels as well as thematic events were held including Artificial Intelligence in Education Summit, the IFE EdTech Summit, and the Cyber-Physical Learning Alliance Summit (CPLAS 2024), which offered opportunities for learning, collaboration and networking.

Additionally, more than 170 educational research and innovation projects from 30 countries were presented, covering the themes of Educational Trends, Technologies for Education, Academic Innovation in Health, Management of Educational Innovation, and Lifelong Learning.

During the closing of the event, associate director of the Institute for the Future of Education, José Escamilla spoke about the lessons in innovation and education that had been shared.

“We hope this congress has been an opportunity to connect and learn. For us, it is a great opportunity to have you here so that we can jointly fulfill our mission of improving the lives of millions of people in the world, by transforming higher education and lifelong learning,” he concluded.

Since its first edition in 2014, the IFE Conference, formerly known as the International Congress of Educational Innovation, has become the most prominent educational innovation congress among Spanish-speaking countries.

This event has opened a range of opportunities for creating networking contacts, allowing interaction among academics, education entrepreneurs, researchers, educational policy makers, as well as civil society organisations to enrich the exchange of ideas and perspectives.

-- BERNAMA

Educational Innovation Congress Addresses AI Utilisation In Higher Education

KUALA LUMPUR, Jan 24 (Bernama) -- Tecnológico de Monterrey’s Institute for the Future of Education (IFE) celebrated the 10th edition of the IFE Conference in Monterrey, Mexico, the most prominent educational innovation congress in the Spanish-speaking world, from Jan 23 to 25.

Themed "Education in the Age of Artificial Intelligence", the event brings together world-class educational leaders, entrepreneurs, and top international experts to discuss the growing use of artificial intelligence (AI) in higher education.

According to a statement, through these discussions it seeks to positively influence educational quality and make it more accessible to the global population.

“We are researching innovative educational methods that can break down barriers, establish more inclusive and pertinent institutions, and offer broader and more impactful opportunities.

“Events like this one propel us towards a brighter educational future and lay the groundwork for learning to become a transformative power for all,” said Tecnológico de Monterrey Rector of Professional and Postgraduate Studies, Juan Pablo Murra.

With over 250 scheduled activities, the congress will provide a unique space for learning, collaboration, and innovation, bringing more than 170 educational research and innovation projects from 30 countries.

These projects address five themes, namely, Educational Trends, Technologies for Education, Academic Innovation in Health, Management of Educational Innovation, and Lifelong Learning.

Throughout the congress, events such as the Artificial Intelligence in Education Summit, the IFE EdTech Summit, and the Cyber-Physical Learning Alliance will also take place, in which these activities will enhance the experience of the conference through a detailed dive into specific topics.

This year, the congress has been noticeably enriched by the diversity and depth of the content being presented as this will consolidate the IFE Conference as a globally significant event and position it as an essential reference point in the field of higher education, especially in the context of the increasing influence of AI.

-- BERNAMA

Taiwan's Taitung County Eyes 1,000 Singaporean Visitors In 2024

KUALA LUMPUR, Jan 22 (Bernama) -- Taiwanese firm operating in Singapore, Hua Yao International Travel Service Co Ltd and the city state’s largest tour operator, Chan Brothers Travel recently signed a memorandum of cooperation and agreed to bring 1,000 Singaporean visitors to Taitung in 2024.

Witnessed the signing were Magistrate of Taitung County, Yao Ching-ling who led a delegation on a tour to Southeast Asia as part of the Taiwan County of Taitung’s efforts to promote tourism in the overseas market; as well as Taiwan’s envoy to Singapore, Dr Tung Chen-yuan.

In order to attract more overseas travellers, the Taitung County Government has actively worked with domestic and foreign companies to hold promotional events since COVID travel restrictions were lifted in late 2023.

Following a presentation in Kuala Lumpur on Jan 15, the delegation of county officials and business owners went to Singapore, where they called on the country’s top three travel agencies and held another event, attended by Dr Tung and the director of the Taiwan Tourism Administration’s office in the Southeast Asian country, Cheng Chih-hung.

“Taitung looks forward to welcoming friends from Singapore to experience the county’s unique, leisurely tempo. Our land in Taitung is rather clingy and I highly recommend a slow and thorough visit so that you can really feel what it is like to be there,” said Yao in a statement.

In addition to subsidies from the Tourism Administration, Yao announced more incentives, including an extra bonus, which will be effective on Feb 1, for tour groups which stay at least two nights in Taitung.

Furthermore, the first 100 visitors from Singapore who come to Taitung with the help of a travel agency and who are eligible to receive incentives for travel to Taitung in 2024 will receive a gift box of sugar apples.

Meanwhile, Chan Brothers Travel executive director, Chan Guat Cheng said Taitung has been a favourite destination for Singaporean travellers because of its laid-back atmosphere, beautiful scenery and indigenous culture.

Prior to the activities in Singapore, a presentation was held to brief Malaysian tour operators on travel incentives and highlights including leisure farms, Instagram-worthy spots, local festivities, indigenous cuisine and halal-certified restaurants.

-- BERNAMA

[INVNT GROUP]™ THE GLOBAL BRAND STORYTELLING AGENCY PORTFOLIO, EXPANDS TO SOUTH ASIA OPENING TENTH OFFICE IN MUMBAI, INDIA

Mumbai, India, Jan 18 (Bernama-GLOBE NEWSWIRE) -- [INVNT GROUP] The Global BrandStory Project™, announces its expansion into South Asia opening its tenth office across seven countries in Mumbai, India. The move aligns with the Group’s vertical and horizontal growth strategy, which supports the increasing demand for innovative brand storytelling in one of the fastest-growing markets including Tata Motors, Hitachi Vantara, Samsung, Sun Pharmaceutical, and more.

With a significant presence already established in key locations such as New York, London, Sydney, Singapore, Dubai, San Francisco, Detroit, Washington D.C, and Stockholm, the addition of Mumbai to [INVNT GROUP]'s global footprint marks another step in bolstering its services to both local and multinational clients.

"We are excited to extend our reach and expertise to South Asia, a region that is rapidly emerging as a hub for technological and marketing communications innovation. Establishing a base in Mumbai is not solely a strategic decision but also a response to our client's growing needs to engage and build wider and deeper communities. It reinforces our commitment to delivering impactful brand stories globally and locally, catering to the unique challenges and opportunities in the region. Our goal is to create unparalleled brand experiences that resonate deeply with local audiences and set new standards in creativity and strategic execution on the global stage. We’re also thrilled to welcome Laveesh Pandey, who joins our team with the perfect experience to drive the group’s expansion in the region,” said Scott Cullather, President & CEO of [INVNT GROUP], and CEO of INVNT.ATOM.

Laveesh Pandey has been appointed Managing Director of [INVNT GROUP] South Asia, reporting into Scott Cullather and Kristina McCoobery, INVNT CEO and [INVNT GROUP], COO. Pandey, previously Chief Operating Officer at Starlight Gaming, joins the global agency with over two decades of experience in the Media & Entertainment industry. Having held key positions at MindShare, Reliance Entertainment, Zapak Digital Entertainment and Clockwork Events, Pandey brings a deep knowledge of technology, gaming, experiential marketing, and advertising, with his award-winning leadership powering transformative B2B and B2C brand experiences. 

“I am elated to lead [INVNT GROUP]’s expansion into South Asia, particularly in the dynamic and crowded Indian market. Brands in this region are eager for innovative ways to stand out, and we are here to deliver a blend of global best practices with deep local insights. In a world that is rapidly evolving, our focus is on connecting brands with their most important communities and audiences in meaningful, authentic, and engaging ways. With [INVNT GROUP]’s diverse capabilities, we are set to redefine brand storytelling in the vibrant South Asian market, creating real impact through the next great era of brand engagement in this region,” said Laveesh Pandey, Managing Director of [INVNT GROUP] South Asia. 

http://mrem.bernama.com/viewsm.php?idm=47905

Banle Energy International Assists BYD's Maiden Voyage Of Car Carrier

KUALA LUMPUR, Jan 17  (Bernama) -- Banle Energy International Limited, a subsidiary of CBL International Limited, announced it has arranged bunkering services to support the inaugural journey of BYD's first car carrier, BYD Explorer 1, at a port in China, on Jan 9.

CBL International Chairman and Chief Executive Officer, William Chia said the company is honoured to have been part of this significant milestone and extend its gratitude to BYD for placing their trust in its bunkering services.

“CBL has established a robust network and possesses the capability to offer bunkering services in 17 out of the top 20 container ports worldwide.

“In line with our expansion plan, we have recently opened an office in Ireland during the fourth quarter of 2023 to further enhance our network in Europe. These initiatives align with our strategic objectives for expanding our presence in Europe,” he said in a statement.

As reported by Seatrade Maritime news, after receiving the bunkering services at Yan Tai port, BYD Explorer 1, will stop by Shenzhen for loading automobiles before exporting to Europe.

BYD, a Chinese manufacturer of electric vehicles (EV), overtook Tesla’s EV sales in the last quarter of 2023 and became the world’s largest EV manufacturer, according to 'The Wall Street Journal’.

CBL International has expanded its presence to over 55 ports across the Asia Pacific and other countries, such as Belgium and Turkey, in addition to having taken a proactive approach in exploring alternative fuels and have been approved for biofuel trading activities.

As a result, the company is one of Hong Kong’s first batch of B24 biofuel suppliers. These achievements demonstrated its eagerness to seize opportunities to provide competitive, environmentally friendly and integrated bunkering services for its valued customers.

Established in 2015, CBL International is the listing vehicle of Banle Group, a reputable marine fuel logistics company in Asia Pacific providing customers with one stop solution for vessel refuelling.

-- BERNAMA

GTJAI Obtains Signatory Status To Principles For Responsible Investment

KUALA LUMPUR, Jan 18 (Bernama) -- Guotai Junan International Holdings Limited (GTJAI) announced its parent company, Guotai Junan Securities Co Ltd (Guotai Junan Securities), officially signed the Principles for Responsible Investment (PRI) in the category of "investment manager".

Guotai Junan Securities together with its subsidiaries including GTJAI, became signatories to PRI, according to a statement.

According to PRI, responsible investment involves considering environmental, social and governance (ESG) issues in the investment decision-making process and ownership practice.

PRI believes that ESG issues can affect the performance of investment portfolios, and contribute to an economically efficient and sustainable financial system, which is essential for long-term value creation.

As fiduciaries, institutional investors have the obligation to act in the best long-term interests of their beneficiaries. Therefore, PRI requires signatories to commit to six Principles for Responsible Investment.

The principles include incorporating ESG issues into investment analysis and decision-making processes; seeking appropriate disclosure on ESG issues by the entities in which they invest; and promoting acceptance and implementation of the Principles within the investment industry.

Obtaining the  signatory status signifies GTJAI’s commitment to follow in the footsteps of its parent company and entering a new phase in ESG investment and risk management development. 

Looking ahead, GTJAI will continue to uphold its ESG vision, actively respond to the national “dual carbon” goals, adhere to six Principles for Responsible Investment, as well as integrate and deepen ESG concepts into daily business operations and management.

The company will also strive to create a responsible comprehensive financial services platform and make contributions to high-quality socio-economic development.

-- BERNAMA

BITDEFENDER BROADENS MANAGED SECURITY SERVICES IN APAC WITH SINGAPORE CENTRE

KUALA LUMPUR, Jan 18 (Bernama) -- Bitdefender, a global cybersecurity leader has opened a new security operations centre (SOC) in Singapore, to meet customer needs and support the growth of Bitdefender Managed Detection and Response (MDR), Bitdefender Offensive Cybersecurity Services, as well as additional business security solutions.

According to Bitdefender in a statement, the new SOC enhances its ability to serve clients headquartered in Asia Pacific (APAC), as well as multinational businesses with operations across the region.

Bitdefender Business Solutions Group president and general manager, Andrei Florescu said establishing a SOC in the APAC region was a strategic step in the continued growth and innovation of Bitdefender MDR services and enterprise security solutions as the attack surface expands.

“Our expansion allows us to better serve organisations with an Asia Pacific presence by delivering world-class managed security services led by elite cybersecurity experts adept at understanding evolving threats, regulatory compliance, and other complex challenges specific to the region,” he added.

Bitdefender SOCs are cybersecurity nerve centres operating in the United States, Romania, and Singapore and are seamlessly integrated, in which these facilities share real-time threat intelligence derived from the Bitdefender Global Protective Network.

Each SOC has full capabilities of Level-1 to Level-3 support in a single team to detect, verify, contain, and eradicate threats quickly.

The SOCs also house Bitdefender Offensive Cybersecurity Services designed to assess, identify, and remediate security gaps in an organisation’s environment (on premises, cloud, hybrid) through penetration testing and red team simulated attacks.

Led by CREST-accredited ethical hackers, the services complement the company’s MDR portfolio providing a proactive means to fortify environments, reduce risk, and meet regulatory/compliance mandates.

-- BERNAMA

TDCX SPECIAL COMMITTEE RETAINS FINANCIAL ADVISOR, LEGAL COUNSELS

KUALA LUMPUR, Jan 17 (Bernama) -- TDCX Inc (TDCX) announced the special committee of its board of directors has retained Houlihan Lokey (China) Limited as financial advisor, Hogan Lovells as United States legal counsel and Maples and Calder (Hong Kong) LLP as Cayman Islands legal counsel.

This is in connection with its review and evaluation of the previously announced preliminary non-binding proposal letter dated Jan 2, from the company’s Founder, Executive Chairman, Director, Chief Executive Officer, and ultimate beneficial owner, Laurent Junique.

According to TDCX in a statement, the special committee is continuing its evaluation of the proposed transaction.

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

Helping clients achieve their CX aspirations by harnessing technology, human intelligence and its global footprint, TDCX serves clients in fintech, gaming, technology, travel and hospitality, digital advertising and social media, streaming and e-commerce.

-- BERNAMA

AM Best Affirms South China Insurance Credit Ratings As Excellent

KUALA LUMPUR, Jan 16  (Bernama) -- Global credit rating agency, AM Best has affirmed Taiwan’s South China Insurance Co Ltd (South China Insurance) 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 South China Insurance’s balance sheet strength, that was assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

South China Insurance’s risk-adjusted capitalisation remained at the strongest level at year-end 2022, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best expects its BCAR and balance sheet strength will remain supportive of the current ratings over the short to intermediate term.

Meanwhile, the company’s investment portfolio remained liquid and diversified with a majority of its assets held in investment grade bonds and cash, and it continues to manage currency risk in its investment portfolio through currency hedging.

South China Insurance has remained profitable over the last few years, with a five-year average return-on-equity ratio of 8.2 per cent (2018–2022), despite posted a 72 per cent year-on-year decline in net profit in 2022 due to a narrowed underwriting margin and unfavourable investment performance.

The company reported high single-digit growth in gross premiums written in 2022, and the first nine months of 2023, supported by motor, fire and casualty products.

While the company’s operating earnings in 2022 were negatively impacted by deterioration in loss ratio, the stable stream of interest and dividend income generated from its investment portfolio contributed to partially offset capital market volatility. The company remained profitable during the first three quarters of 2023.

South China Insurance remains a medium-sized insurer in Taiwan’s non-life market, and its underwriting portfolio remains moderately diversified with motors dominating its business, followed by fire, personal accident and health and casualty insurance.

The company continues to source its revenue from a diversified distribution network while leveraging cross-selling opportunities more broadly with its affiliates in Hua Nan Financial Holdings Co Ltd.

-- BERNAMA

Technology Meets Fashion: Vietnam’s First Payment Bracelet Creates A Buzz Among Gen Z

KUALA LUMPUR, Jan 10 (Bernama) -- OMverse, the leading digital performance solutions announced Stellar, the first payment bracelet in Vietnam has been a hit with young people in the country thanks to its flexible experience, as demonstrated during the DigiLounge#4 "Revealing Stellar - a pioneer in the new payment style of GenZ" event hosted by the company.

Launched in mid-Nov 2023, Stellar payment bracelet was resulted from a strategic combination between the Military Commercial Joint Stock Bank (MBBank) and Omega Media (a member of OMverse).

Integrating two debit and credit chips in one device, it gives customers convenient one-touch payment without a network connection or battery charging, according to OMverse in a statement.

With 18 options of design, colour and individually designed personality charms, this payment-fashion friend is also waterproof and dust resistant, suitable for all types of weather and outdoor activities of Gen Z.

Priced at an affordable price, about US$16, it attracted many young people between the ages of 25 and 40, who love technology, fashion and are always ready to try new things. (US$1=RM4.64)

The launch of the Stellar payment bracelet marked a breakthrough in product marketing and brandformance in the banking and finance industry and impressed leading marketing experts in Vietnam.

A representative from Omega Media shared that Gen Z in Vietnam has been always looking for new experiences, so the banking and finance industry also needs innovative products to keep up.

The launch of Stellar, when technology meets fashion in a bracelet, was timely and could contribute to creating new payment trends.

The highlight of DigiLounge#4 was the activity of experiencing the one-touch payment style with Stellar right at the event, with many C-level and marketing managers from large Vietnamese enterprises taken aback by Stellar's time-saving and convenient features.

They also enjoyed special charm sets with many humorous and bold messages created by the Gen Z designers and are optimistic that Stellar may eventually reach Gen Alpha in its entirety.

-- BERNAMA

FORTREA SET UP INDUSTRY PARTNERSHIP TO STREAMLINE PATIENT AND SITE CLINICAL TRIAL EXPERIENCE

KUALA LUMPUR, Jan 10 (Bernama) -- Fortrea announced an industry partnership with founding members Veeva Systems Inc, a cloud solutions provider for the global life sciences industry, and Advarra, a clinical research technology provider for clinical research investigator sites and sponsors.

According to the global contract research organisation (CRO) in a statement, the partnership is to deliver an integrated patient- and site-centric solution that streamlines the clinical trial experience.

Fortrea Chief Operating Officer and President of Clinical Services, Mark Morais said working with industry-leading partners and founding members, the company has taken action to remove complexities so it can address the pain points of sites and patients as well as make a difference.

“We are leveraging our unique vantage point in the industry that enables us to layer our expertise over the tech and data ecosystems from best-in-class partners, adding to our alliance as we go, to dramatically simplify the experience for patients, sites and sponsors,” he added.

In an industry faced with complex challenges to clinical trial execution, Fortrea is establishing an alliance of industry partners, beginning with founding members, Veeva and Advarra, to tackle some of these challenges head-on.

For sites, the partnership is set to deliver a cloud-based, simplified sign-on experience for Fortrea-run studies; access to study technologies through a single dashboard; and a unified environment with a single repository for study documents and records.

Meanwhile, for patients, the solution is being designed to offer easy-to-access, step-by-step, visit-by-visit support and education throughout a patient’s trial journey; a simplified user experience through a single platform; and self-referral functionality to search and find studies in their disease area of interest, among others.

The three companies are partnering to offer a seamless, unified technology solution that integrates best-in-class technologies and leverages Fortrea’s process expertise, which will help ease the administrative burden for patients and sites, as well as increase the accessibility of clinical trials for the public.

-- BERNAMA

FUJITEC DEBUTS INTEGRATED REPORT 2023

KUALA LUMPUR, Jan 10 (Bernama) -- Japan’s Fujitec Co Ltd has published an Integrated Report 2023 for its stakeholders, including shareholders and investors.

According to Fujitec in a statement, this is the company’s first integrated report.

The new report expands on financial and non-financial information contained in the annual Fujitec Report to further strengthen the relationship of trust with its customers.

It plainly describes the company’s initiatives and activities aimed at achieving its management philosophy: “Respecting people, technologies, and products, we collaborate with people from nations around the world to develop beautiful and functional cities that meet the needs of a new age.”

The statement added that through this report, Fujitec strives to make its communication with stakeholders even more active.

-- BERNAMA

AIRPORTER AND MUIC KANSAI LAUNCH OFF-AIRPORT CHECK-IN SERVICE AT KANSAI INTERNATIONAL AIRPORT

 OSAKA, Japan, Jan. 10, 2024 /Kyodo JBN-AsiaNet/ --

Airporter, Inc. and MUIC Kansai (Kansai Innovation Center) have initiated Japan's first off-airport check-in service at Kansai International Airport. The service aims to streamline the luggage process for outbound travelers, delivering luggage directly from hotels (or designated drop-off points) to departure airports in Japan and onward to international arrival airports.   Image of off-airport check-in service: https://drive.google.com/file/d/1hN2CC29wyh5pVxSjXXk7MeukQOI7ayEZ/view?usp=drive_link A proof of concept (PoC) project targeting JAL users departing from Kansai International Airport was successful. Airporter and MUIC Kansai plan to establish collaboration with major Asian airlines frequently used by international travelers visiting Japan in the future. Summary of the service   Scheme of off-airport check-in service: https://drive.google.com/file/d/1DXRwZtkmMh4l60RpjzUbGWStfAbb2B1R/view?usp=drive_link 1. Airporter provides same-day luggage delivery between airports and hotels, expanding its service to international airports. This enables "hands-free travel" from hotels to overseas arrival airports. 2. By combining Airporter's same-day luggage delivery service with online check-in provided by airlines, this service contributes to the digitization of boarding procedures, reducing the occurrence of long queues. 3. With an eye on Expo 2025 Osaka, Kansai, the initial focus for implementing the service was in Osaka. A 3-month PoC demonstration was conducted starting from July 2023, targeting JAL users departing from Kansai International Airport for the verification of service operations. Future developments 1. Airporter and MUIC Kansai plan to enhance their services aiming for full-scale expansion, with Expo 2025 Osaka, Kansai in sight. The duo will start by expanding partnerships with major Asian airlines commonly used by international travelers visiting Japan.  http://mrem.bernama.com/viewsm.php?idm=47865

PUBMATIC DRIVES REVENUE LIFT WITH ADDRESSABILITY ALTERNATIVES

KUALA LUMPUR, Jan 9 (Bernama) -- An independent technology company, PubMatic has announced recent expansion and success of Connect, its fully-integrated audience solution that leverages addressable signals from across the open internet to help data owners drive monetisation and help media buyers drive performance.

With Connect as a centralised access point for addressability solutions, the company in a statement said it has not only adapted to industry changes but also delivered a quantifiable monetisation lift for publishers.

“Our mission is to fuel the endless potential of internet content creators, and in today’s regulatory and privacy-centric environment, this requires collaborative partnerships and integrated technology.

“Through Connect, we have developed innovative, omnichannel solutions that not only address the challenges posed by the changing digital advertising landscape but also set a new standard for effective and privacy-conscious advertising,” said its senior vice president of addressability and marketplace, Andrew Baron.

PubMatic has expanded its partnerships with leading alternative IDs, audience data partners and contextual providers to ensure publishers and advertisers can continue to deliver relevant, impactful advertising across the open internet.

As a result, over 75 per cent of impressions on the company’s platform have alternative targeting signals attached other than the cookie.

PubMatic is now integrated with nearly 30 alternative IDs, to drive increased return on investment (ROI) for advertisers as well as increased publisher revenue and cost per milles (CPMs).

In addition to alternative IDs, PubMatic supports dozens of global data providers to create robust and effective omnichannel advertising solutions, further extending privacy-safe, targetable data available for buyers.

As PubMatic continues to prioritise partnerships and collaboration, it remains dedicated to driving the future of digital advertising through innovation, strategic alliances, as well as a steadfast commitment to user privacy.

-- BERNAMA

Hong Kong’s Maiden US Treasury 20+ Years ETF Debuts On Jan 10

KUALA LUMPUR, Jan 9 (Bernama) -- CSOP FTSE US Treasury 20+ Years Index ETF (3433.HK) will be listed on the Hong Kong Stock Exchange on Jan 10 as Hong Kong’s first United States (US) Treasury 20+ Years exchange-traded fund (ETF).

To capture the performance of FTSE US Treasury 20+ Years Index, 3433.HK adopts a representative sampling strategy, with listing price at around HKD78 per unit, and trading lot of 10 and management fee of 0.20 per cent.

According to a statement, the Unlisted Share Class A of the ETF will be launched on the same day, with minimum initial investment of US$1,000 and 3433.HK has received US$50 million initial investment. (US$1=RM4.64)

CSOP Asset Management chief executive officer, Ding Chen said the company is proud to introduce the first long-term US Treasury Bonds ETF to Hong Kong.

“This allows investors to easily access the US Treasury Bonds market in a flexible and transparent manner,” she said.

Anticipations are high for rate cuts in 2024, whereby US Treasury Bonds often benefit from rate decreases during periods of monetary easing due to the inverse relationship between bond values and rates.

The FTSE US Treasury 20+ Years Index saw a total return of 24.7 per cent, an annualised return of 42.2 per cent, during the rate-cutting periods of July 2019 to March 2020.

CSOP FTSE US Treasury 20+ Years Index ETF emerges as an efficient solution for retail investors seeking to invest in the US Treasury Bonds, in which it offers ease of transaction and high transparency.

FTSE US Treasury 20+ Years Index measures the performance of the US Treasury securities, all rated investment grade, with maturity greater than or equal to 20 years that are in the FTSE World Government Bond Index.

The Index is a total return index, meaning that the performance of the index includes both coupon and principal return derived from US Treasury Bonds, with an average coupon rate of 2.68 per cent, average yield to maturity of 4.63 per cent with effective duration of 16.81.

-- BERNAMA

ATP TOUR RETURNS TO HONG KONG WITH SOLD OUT OPENING DAY TICKETS

KUALA LUMPUR, Jan 3 (Bernama) -- The fans turned out en masse to welcome the return of ATP Tour tennis to Hong Kong for the first time in decades at the Bank of China Hong Kong Tennis Open (BOCHKTO) 2024.

According to the Hong Kong Tourism Board in a statement, the opening day tickets to the Victoria Park Tennis Stadium were all sold out by the early afternoon, and after a spectacular fireworks show on New Year’s Eve, the players brought their own pyrotechnics to Centre Court.

Rising China star Shang Juncheng recorded the biggest win of his young career after outlasting Serbia’s Laslo Djere on Centre Court in over three hours marathon opening match, 6-7, 6-3, 7-6.

“I had a pretty rough 2023 and coming into 2024 with a good win, I am just really happy to be here and excited about what is next.

“Djere is 33 in the rankings so it is an amazing win. The biggest of my career. Hopefully I can do some good things this year,” he said.

Shang expressed his delight at playing once again in China stating that he always enjoyed going back home, having amazing fans and to just enjoy the court.

Meanwhile, a resoundingly successful opening day of the BOCHKTO 2024 finished with an entertaining doubles match featuring tournament top seeds World No.5 Andrey Rublev and World No. 15 Karen Khachanov against Hong Kong No.1 Coleman Wong and Belgium’s Zizou Bergs.

-- BERNAMA