The Retail Marketeers and PDI Technologies Announce Recipients of the 2026 European Female Leaders in Convenience Awards

Six women recognized for advancing leadership, innovation, and growth across Europe’s convenience retail and mobility sectors 

HAMBURG, Germany, May 8 (Bernama-GLOBE NEWSWIRE) -- The Retail Marketeers today announced the 2026 recipients of the European Female Leaders in Convenience Awards, an awards program presented by PDI Technologies for the second consecutive year. The awards honor six exceptional women whose leadership, innovation, and strategic vision are shaping the future of European convenience retail and mobility.

Building on the inaugural program in 2025, the European Female Leaders in Convenience Awards continue to spotlight accomplished leaders and strengthen visibility for women in senior roles who are navigating the rapidly evolving industry landscape defined by energy transition, digital transformation, and changing consumer expectations.

The recipients were selected by a Nomination Committee and Judging Panel chaired by Christian Warning, Owner and Managing Director of The Retail Marketeers, and Dawn Desai, EVP & GM, International at PDI Technologies.

“Women have long played a critical role in advancing our industry, and these awards are about ensuring that their leadership and impact are fully recognized,” said Warning. “Building on the inaugural awards in 2025, this year’s group demonstrates both the depth and diversity of women leaders across Europe. Their experience, vision, and commitment are invaluable as the convenience and mobility sectors continue to evolve and inspire the next generation of leaders.”

The 2026 European Female Leaders in Convenience Awards recipients are:

• Agnieszka Bobrukiewicz, member of the ORLEN Unipetrol Group’s Board of Directors, responsible for retail in the Czech Republic, Hungary, Slovakia, and Austria, and Executive Director for the ORLEN Group’s non-fuel segment 
• Alicia Cruzado Lopez, Senior Manager, Franchise Development and New Business, Repsol
• Louise Eckford, Head of Transformation, Property & Programmes for Channels & Hospitality, Marks and Spencer
• Judy Glover, Head of European Merchandising, Circle K Europe
• Zsuzsa Hordai, Head of Strategic Projects, SPAR International
• Anna Wallenberg, CEO, Reitan Convenience Sweden

Together, the 2026 honorees represent a diverse cross‑section of Europe’s leading convenience and mobility organizations, each making a measurable impact across markets, formats, and customer experiences at a time of significant industry transformation.

“Our industry is stronger and more resilient because of the individuals who lead it,” said Desai. “These honorees demonstrate what modern leadership looks like as they combine strategic insight, operational excellence, and a deep commitment to their teams and customers. We are proud to support a program that recognizes and elevates women who are playing a part in shaping the future of convenience and mobility retail across Europe.”

To learn more about all the 2026 European Female Leaders in Convenience Awards recipients and their achievements across Europe’s diverse markets, visit The Retail Marketeers website. As part of UNITI expo 2026 in Stuttgart, Germany, attendees are invited to stop by the PDI Technologies stand (Hall 5, Stand 5B21) on Wednesday, 20 May 2026, for an informal reception with refreshments and beverages. The gathering provides an opportunity to learn more about the European Female Leaders in Convenience Awards program, gain insight into PDI solutions for the European market, and connect informally with the PDI team, customers, and industry peers attending the expo.

Later this year on 11 November 2026, The Retail Marketeers and PDI will celebrate the 2026 European Female Leaders in Convenience Awards winners together with other senior industry leaders. The awards ceremony will take place during The Retail Marketeers Convenience Leaders Convention in Hamburg, Germany—the annual gathering for international leaders across the European fuel retail and convenience landscape. Learn more about the Convenience Leaders Convention. 

About The Retail Marketeers European Female Leaders in Convenience Awards Ceremony
As an integrated component of The Retail Marketeers Convenience Leaders Convention, there will be a ceremony on 11 November 2026 celebrating the 2026 European Female Leaders in Convenience Awards winners. The Convenience Leaders Convention is the annual highlight for decision-makers in global convenience retail. The unique English-speaking industry event will be held in the heart of Hamburg, Germany, from 11-12 November 2026, and will bring together the leading minds from across the entire value chain for the 10th time. The two-day summit of the petrol station industry will also feature the NACS Convenience Leaders Exchange for the D-A-CH region. https://theretailmarketeers.events/ 

About PDI Technologies
PDI Technologies, Inc. resides at the intersection of productivity and profitable growth, delivering solutions that serve as the backbone of the convenience retail and petroleum wholesale ecosystem. With operations across the Americas, EMEA, and APAC, PDI helps more than 200,000 customers in over 60 countries by “Connecting Convenience” globally. Now with PDIQ, PDI is bringing embedded AI into the workflows customers already trust and helping operators work smarter, move faster, and make better decisions. From large-scale ERP and logistics to loyalty, payments, and cybersecurity, PDI delivers the intelligence needed to compete and win in a rapidly changing world. Visit the PDI Technologies website.  

For more information, contact: christian.warning@theretailmarketeers.com or pr@pditechnologies.com  

SOURCE: PDI Technologies

--BERNAMA 

Allied Gaming & Entertainment Announces Proposed Rebranding to “AI & FutureTech Alliance Limited (AIFA)” and Plans for Hainan Silicon Photonics AI Supercomputing Center, Supported by Convertible Notes Financing plan to Build a Global Optical Compute Network Platform

NEW YORK, May 5 (Bernama-GLOBE NEWSWIRE) -- Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) (the “Company”) today announced that its Board of Directors has approved a proposal to change the Company’s corporate name to "AI & FutureTech Alliance Limited," with a proposed corresponding ticker symbol change to "AIFA," and has commenced development planning for an artificial intelligence infrastructure project in the Hainan Free Trade Port — the AIFA Silicon Photonics AI Supercomputing Center — part of the Company’s strategic direction along with future mergers, acquisitions, and development of global optical network infrastructure. Both the proposed name change and the infrastructure project are subject to significant conditions, including shareholder approval, regulatory filings, financing, and other requirements described below.

This initiative aims to position the Company as a global leader in AI infrastructure, to capture significant opportunities arising from the rapid evolution of global intelligent computing capacity and the expansion of the digital economy. The Company has commenced implementation of the first major phase of this strategic plan, as outlined below:

I. Proposed Corporate Rebranding: From AGAE to AIFA, with a Strategic Focus on “AI-driven all-optical infrastructure, repositioning the Company as a global platform integrating AI compute and fiber-optic network transmission.”

The Company’s Board of Directors has approved a proposal to change the Company’s corporate name from “Allied Gaming & Entertainment Inc.” to “AI & FutureTech Alliance Limited”, with a corresponding ticker symbol change on the Nasdaq Stock Market from “AGAE” to “AIFA” (subject to shareholder approval and regulatory filings).

This proposed rebranding represents not merely a name change, but a fundamental transformation of the Company’s identity — from a gaming and entertainment business to a global technology platform focused on AI infrastructure and full-stack optical network systems.

The proposed name change is subject to approval at the Company’s upcoming annual meeting of shareholders and the completion of applicable regulatory procedures. The Company will disclose further updates in accordance with applicable securities laws.

II. Landmark Project Launch: AIFA Silicon Photonics AI Supercomputing Center in Hainan

The Company announced the plan of launching the AIFA Silicon Photonics AI Supercomputing Center. As an offshore silicon photonics-based AI supercomputing hub to be fully owned, constructed, and operated by the publicly listed company, the facility will be located in Qingshui Bay, Hainan Free Trade Port, a globally significant international submarine cable landing station.

The Company has secured 13,089 square meters of core development auction-acquired commercial land, and is in the process of acquiring an additional 13,578 square meters, bringing total planned land area to 26,667 square meters (approximately 287,039 square feet). This location offers unique cross-border communications advantages, with direct connectivity to multiple international submarine cables linking Asia, Europe, and North America, making it a critical international gateway for data transmission of the broader region.

The project has completed internal approval procedures, and preliminary work including master planning, architectural design, and computing infrastructure engineering is progressing steadily. The project remains subject to external regulatory approvals, financing, and the completion of applicable land arrangements.

1. Five Core Business Lines of the AIFA Silicon Photonics AI Supercomputing Center: Establishing a full-stack, integrated platform encompassing high-performance AI storage, advanced compute operations, AI tokenized services, and compute orchestration capabilities.

The AIFA Silicon Photonics AI Supercomputing Center is planned to be built around advanced silicon photonics interconnect and optical computing technologies, and is intended to offer five integrated service areas covering the full lifecycle of AI compute demand:

High-Performance Compute Leasing
The Company will provide GPU clusters as well as hybrid silicon photonics–electronic compute clusters, supporting both long-term dedicated leasing—suitable for trillion-parameter AI model training and large-scale scientific computing—and flexible, on-demand leasing for inference workloads, temporary R&D, and short-duration, high-concurrency tasks. Compared with traditional electronic computing architectures, we believe silicon photonics–enabled compute offers significantly lower latency, reduced power consumption, and higher hardware utilization.

Advanced Distributed Storage
Deployment of all-optical storage arrays enabling sub-microsecond read/write latency, supporting multi-tier storage (hot, warm, cold), cross-border data storage designed to support applicable compliance requirements, and disaster recovery services for large-scale AI datasets.

AI Token Output Services
Conversion of compute capacity into standardized API-based AI Token services, including text generation, image/video generation, and industry-specific inference services. The Company intends to explore a revenue-sharing arrangements with leading model developers, with the goal of enabling global developers and enterprises to access AI compute in a lightweight, scalable manner. No formal arrangements have been entered into, and no assurance can be given that any will be established on the terms described or at all.

Cross-Border Compute Orchestration
Leveraging international submarine cable infrastructure and intelligent scheduling platforms to dynamically allocate compute resources across regions, supporting distributed cross-border model training. The Company believes this capability, if implemented as planned, has the potential to reduce geopolitical risk and compute costs and enhance operational resilience. No assurance can be given that these objectives will be achieved.

Full Lifecycle Value-Added Services
Centered on model optimization, compliance certification, infrastructure operations, and collaboration with academic and industry partners, these services provide comprehensive support to core compute offerings and establish an integrated service platform encompassing compute, technology, compliance, and ecosystem development.

2. Advanced Technology Architecture: Silicon Photonics CPO + Immersion Cooling

The AIFA Supercomputing Center is designed to deploy a next-generation architecture combining Co-Packaged Optics (CPO) and immersion liquid cooling, which the Company believes would represent one of the first deployment of this technology combination in Asia, based on publicly available information. The target Power Usage Effectiveness (PUE) is 1.08–1.10, These are design targets based on the planned technology architecture and are not guarantees of actual operational performance.

Hardware Layer:
The facility is planned to utilize GPUs based on next-generation architectures and may evaluate solutions from leading providers such as NVIDIA and Cambricon, subject to applicable trade regulations and commercial arrangements. These systems are expected to incorporate advanced silicon photonics interfaces, enabling large-scale, non-blocking interconnection. The immersion cooling system supports rack-level power density exceeding 400 kW, which is expected to reduce energy consumption by 40–60% compared to conventional air cooling.

Software Layer:
Equipped with a proprietary full-stack AI scheduling system optimized for trillion-parameter MoE models, targeting resource utilization rates above 90%. A cross-border data compliance platform is designed to support compliance with applicable Hainan Free Trade Port regulatory frameworks and global data privacy standards.

Green Energy:
Primary reliance on solar power, supplemented by grid electricity, to establish a low-carbon, environmentally sustainable compute infrastructure.

3. Market Opportunity and Policy Advantages

There is currently a notable supply gap in high-end offshore compute capacity and AI storage across Asia. The AIFA Silicon Photonics AI Supercomputing Center is expected to help address this gap and support connectivity across the region’s digital economy.

The AIFA Supercomputing Center may be eligible to benefit from multiple policy incentives associated with the Hainan Free Trade Port, including:offshore tax advantages

• duty-free importation of advanced equipment
• cross-border data pilot programs
• dedicated international communication channels

The combination of compute infrastructure with potential submarine cable and fiber network integration opportunities, if pursued and successfully implemented, could create a highly differentiated and scarce infrastructure platform.

III. Proposed Convertible Bond Financing Initiative

The Company has initiated a process of convertible bond financing and has engaged several financial advisors to assist in evaluating and pursuing such opportunities. The Board of Directors has authorized the Company to pursue a potential issuance of convertible notes of up to US$300 million, subject to market conditions, investor interest, and the negotiation and execution of definitive agreements.

If pursued and successfully completed, the Company currently expects that any such financing would be structured in multiple tranches and that proceeds would be primarily used to support the development of the AIFA Silicon Photonics AI Supercomputing Center, including data center construction, compute infrastructure procurement, silicon photonics deployment, cooling systems, and general working capital.

The Company may, subject to market conditions and the outcome of ongoing discussions, consider a phased financing structure, which could include:

• Phase I (target financing of approximately US$150 million): Proceeds are intended to fund the initial phase of project construction, with a target of achieving approximately 1.2 EFLOPS (FP8) of compute capacity.
• Subsequent Phase II (target financing of approximately US$150 million): Proceeds are intended to support expansion of the project’s second phase, with a target of increasing GPU deployment from approximately 5,000 units to 12,000 units.

Proceeds from the financing are expected to be used primarily for data center construction, procurement of GPU servers, deployment of silicon photonics equipment, implementation of immersion liquid cooling systems, deployment of international submarine cable infrastructure, and working capital reserves, with the objective of supporting high-quality project delivery.

IV. Management Commentary

James Li, Chairman and CEO, stated:

“The proposed rebranding to AIFA, the development of a silicon photonics AI supercomputing center on Company-owned land, and the associated convertible financing represent the first major phase of AGAE’s strategic transformation after several years of dedicated planning and execution.

Since early 2024, we have also been exploring acquisitions of scarce international fiber-optic assets, while advancing internal innovation and external partnerships. Our goal is to build an end-to-end optical technology operating platform and position AGAE as an AI infrastructure company with dual core capabilities in silicon photonics-based compute and fiber-optic networks. We currently expect to enter into definitive acquisition agreements in Q2 2026, subject to customary conditions, and will provide updates as appropriate.
The Company has commenced the first phase of its strategic transformation roadmap. Going forward, it intends to build on potential underlying asset acquisitions, while continuing to advance its presence in AI education and AI applications. The Company will also seek to strengthen collaboration with global industry partners and academic institutions, and to recruit senior leadership talent, with the goal of delivering long-term shareholder value.”

Appendix to this new release: preliminary plan of Hainan Silicon Photonics AI Supercomputing Center 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, and within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the Company's proposed corporate rebranding, the planned development of the AIFA Silicon Photonics AI Supercomputing Center, proposed financing activities, planned land arrangements, technology deployment, market opportunity, policy benefits, and strategic objectives.

These statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied, including but not limited to: (i) failure to obtain required shareholder, regulatory, or governmental approvals; (ii) unavailability of financing on acceptable terms or at all; (iii) failure to complete land arrangements, construction, or infrastructure development on anticipated terms or timelines; (iv) GPU, semiconductor, and supply chain constraints affecting hardware availability; (v) changes in PRC, Hainan Free Trade Port, or other applicable regulatory frameworks, including cross-border data regulations; (vi) failure to establish anticipated vendor, partnership, or customer relationships; (vii) currency exchange rate fluctuations; (viii) macroeconomic conditions and geopolitical developments; and (ix) other risks set forth in the Company's filings with the U.S. Securities and Exchange Commission.

The Company cautions investors not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

About Allied Gaming & Entertainment Inc.

Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) is growth-oriented company undergoing a strategic transformation from a global experiential entertainment business into an AI-focused digital infrastructure platform. The Company is pursuing opportunities in artificial intelligence infrastructure, silicon photonics-enabled compute, cross-border fiber-optical network transmission, digital infrastructure services, and technology-enabled growth initiatives. Through its proposed AIFA strategic platform, Allied aims to build an integrated ecosystem combining AI compute capacity, fiber-optic network infrastructure, AI education and AI applications to support long-term value creation.

Contact:

IR@alliedgaming.gg 

SOURCE: Allied Gaming & Entertainment

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

--BERNAMA

Novelty Nobility Taps AGC Biologics to Further Develop Bispecific Drug Candidate

Successful partnership continues as bispecific antibody candidate moves to GMP manufacturing; project highlights Japan's advanced capabilities in bioprocessing and AGC Biologics' expanding global network 

CHIBA, Japan, May 4 (Bernama-GLOBE NEWSWIRE) -- Novelty Nobility, a clinical-stage biotech company based in South Korea, expanded its manufacturing agreement with AGC Biologics, your friendly CDMO expert, to advance their bispecific antibody drug candidate through process development and GMP manufacturing at AGC Biologics’ facility in Chiba, Japan.

This second partnership, continued from the last year, underscores the successful track record and deep expertise AGC Biologics provides for developing complex biologics. The project leverages AGC Biologics’ global network, having successfully completed cell line development in Copenhagen, Denmark. The program is now on track for a seamless tech transfer to the Chiba site for the next critical manufacturing stages.

"AGC Biologics has proven to be an ideal manufacturing partner for advancing our most complex programs. Their seamless global network — from cell line development to GMP manufacturing — gives us the confidence to move NN4101 forward with speed and precision." said Sang Gyu Park, CEO of Novelty Nobility. "We believe this bispecific antibody has the potential to offer a truly differentiated treatment option for patients with neovascular retinal diseases."

Novelty Nobility’s bispecific antibody drug candidate NN4101 is a first-in-class bispecific antibody intended for the treatment of neovascular retinal diseases. It uniquely connects a fully human anti-c-Kit monoclonal antibody with a vascular endothelial growth factor (VEGF) trap.

"Our continued partnership with Novelty Nobility is a testament to the trust and confidence customers have in our technical expertise and our global network's capabilities," said Tadashi Murano, President of the AGC Life Science Company. "Our mammalian expression teams are adept at handling complex proteins, and we are a world leader in applying flexible, single-use bioreactor technology. We are proud to support Novelty Nobility as they advance this innovative candidate toward the clinic."

The project highlights the power of AGC Biologics’ integrated global facility network, offering customers a seamless experience by combining world-class expertise with a strong regional presence. To further support growing demand in the region and globally, AGC Biologics is expanding its footprint in Japan with a new state-of-the-art facility in Yokohama. The Yokohama site is designed to utilize the latest single-use bioreactor technology to offer large-scale GMP manufacturing, making it one of the most advanced facilities of its kind in Japan.

"When clients work with us, they tap into our entire global network which brings teams together for a seamless experience," noted Susumu Zen-in, Senior Vice President and General Manager of AGC Biologics’ Chiba site. "This approach is creating wins for our partners and for AGC Biologics throughout the APAC region. The upcoming capacity at our new Yokohama site will only strengthen our ability to meet the global demand for vital biopharmaceuticals."

About AGC Biologics

AGC Biologics is a leading global biopharmaceutical Contract Development and Manufacturing Organization (CDMO) with a strong commitment to delivering the highest standard of service as we work side-by-side with our clients and partners, to provide friendly and expert services. We provide world-class development and manufacturing of mammalian and microbial-based therapeutic proteins, plasmid DNA (pDNA), messenger RNA (mRNA), viral vectors, and genetically engineered cells. Our global network spans the U.S., Europe, and Asia, with locations in Seattle, Washington; Copenhagen, Denmark; Heidelberg, Germany; Milan, Italy; and Chiba and Yokohama, Japan. AGC Biologics is a part of AGC Inc.’s Life Science Business. The Life Science Business runs eight facilities focused on biopharmaceuticals, advanced therapies, small molecule active pharmaceutical ingredients, and agrochemicals. To learn more, visit www.agcbio.com.

About Novelty Nobility

Novelty Nobility is a clinical-stage biotech company driven by a mission to maximize the potential of therapeutic antibodies. The company is dedicated to developing next-generation treatments for immunology and inflammatory diseases. Leveraging its proprietary fully human antibody discovery platform, PREXISE®-D, together with deep expertise in protein engineering, Novelty Nobility is advancing a diverse pipeline of monoclonal antibodies (mAb), bispecific antibodies (bsAb), and antibody-drug conjugates (ADC) — modalities where scientific novelty translates into meaningful benefits for patients.

AGC Inc. corporate contact: info-pr@agc.com   

AGC Biologics media contact: ksills@agc.com

Novelty Nobility media contact: ok.kwon@noveltynobility.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cecf4f80-22df-4bbf-b0a7-f50b9acf9495 

SOURCE: AGC Biologics, Inc.

--BERNAMA 

JUMIO LAUNCHES CONTINUOUS IDENTITY RISK MONITORING SOLUTION

KUALA LUMPUR, May 5 (Bernama) -- Jumio, an artificial intelligence (AI)-powered identity intelligence provider, has launched Jumio Watch, a continuous identity intelligence solution designed to improve how organisations manage identity risk.

The solution moves identity verification beyond a one-time onboarding decision by continuously analysing identity signals to detect changes in risk over time.

In a statement, Jumio said early studies show up to a 25 per cent increase in risk detection after initial onboarding, as new intelligence enables organisations to reassess previously approved users.

“Risk evolves, and so should identity strategy. With Jumio Watch, we are giving customers the ability to detect risk that only becomes visible over time, moving beyond static onboarding decisions,” said Jumio president and chief product and technology officer, Bala Kumar.

Meanwhile, its chief of digital identity, Philipp Pointner added that the platform provides continuous assurance for organisations managing fraud and compliance risks.

“Jumio Watch makes identity a continuous, intelligent signal, enabling organisations to stay compliant, reduce fraud exposure and make more informed decisions,” he said.

The launch comes amid growing fraud risks driven by increasingly sophisticated AI-enabled techniques, including deepfakes and synthetic identities.

Jumio Watch is built on the Jumio Identity Graph, which analyses patterns and connections across tens of millions of identities globally to identify risks that may not be visible within a single organisation.

The solution is designed for fraud, compliance, and security teams across sectors, including financial services, gaming and digital platforms. It offers features such as post-verification flagging, proactive risk alerts and portfolio-level risk management.

Jumio Watch is now available, with additional capabilities planned throughout 2026 as the company continues to expand its continuous identity intelligence offerings.

-- BERNAMA

HOLAFLY FOR BUSINESS SEES RISING DEMAND FOR ENTERPRISE TRAVEL CONNECTIVITY SOLUTIONS

KUALA LUMPUR, May 5 (Bernama) -- Holafly for Business noted that companies are increasingly adopting more integrated connectivity solutions for employees travelling abroad, as reliance on public WiFi and traditional roaming networks raises operational and security risks.

The company said one of the key challenges for information technology (IT) teams is ensuring employees remain connected upon arrival, enabling access to critical tools and real-time information without exposure to unsecured networks.

Holafly for Business Head of Sales, Ricardo Rodriguez in a statement said companies are increasingly focused on ensuring employees can operate securely and reliably from anywhere, rather than simply maintaining connectivity while travelling.

As global workforces become more distributed, organisations are shifting away from fragmented solutions towards centralised connectivity management platforms.

In this context, Holafly for Business is positioning its services as a tool for IT departments to manage mobile data access for employees across markets.

The shift comes as business travel continues to expand. According to the Global Business Travel Association (GBTA), global business travel spend is expected to reach US$1.69 trillion in 2026. (US$1 = RM3.95)

GBTA data also shows business travellers lose an average of 5.2 productive hours per trip due to connectivity-related issues.

Separately, IBM Security estimates the average cost of a corporate data breach at US$4.88 million, underscoring risks associated with unsecured network usage during travel.

The company said its Business Center platform allows IT teams to centralise eSIM management, monitor usage in real time and automate billing processes to improve operational visibility.

-- BERNAMA

AM BEST AFFIRMS VIETNAM NATIONAL REINSURANCE CREDIT RATINGS

KUALA LUMPUR, May 4 (Bernama) -- AM Best has affirmed the financial strength rating of B++ (Good), the long-term issuer credit rating of “bbb+” (Good), and the Vietnam National Scale Rating of aaa.VN (Exceptional) of Vietnam National Reinsurance Corporation (VINARE).

The outlook of these credit ratings (ratings) is stable, reflecting VINARE’s very strong balance sheet strength, strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

VINARE’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which was at the strongest level at year-end 2025 and is expected to remain at this level over the medium term.

Offsetting factors include moderate investment risk driven by equity holdings, as well as reliance on retrocession for large commercial risks, although associated credit risks are partly mitigated by the sound quality of counterparties, according to AM Best in a statement.

The global credit rating agency assesses VINARE’s operating performance as strong, supported by its five-year average return-on-equity ratio of 10.8 per cent (fiscal years 2021 to 2025).

The company has generated robust underwriting profits, supported by favourable underwriting performance of its commercial businesses, although partially offset by a higher expense ratio. Investment income remains the key contributor to its overall earnings, with a net investment income ratio of 22.6 per cent in fiscal year 2025.

Prospectively, AM Best expects VINARE to maintain strong operating performance, supported by its core commercial business and stable investment income.

As Vietnam’s national reinsurer, VINARE benefits from long-standing relationships with local cedants and derives the majority of its premium from the domestic market. The company maintains a well-diversified underwriting portfolio across business lines, although it remains exposed to elevated product risk due to its sizable commercial and industrial risk exposure.

VINARE’s ERM is assessed as appropriate, supported by its risk management framework and technical expertise, including support from its second-largest shareholder, Swiss Reinsurance Company Ltd.

-- BERNAMA

MODON SELLS OUT TARA PARK PROJECT, NEARS 2 BLN EMIRATI DIRHAM IN SALES

Modon announces the sell-out of Tara Park on Reem Island, Abu Dhabi, generating nearing AED 2 billion in sales (Photo: AETOSWire)

KUALA LUMPUR, May 4 (Bernama) -- Modon, an Abu Dhabi-headquartered international holding company, has announced the sell-out of Tara Park on Reem Island, with the project generating nearly two billion Emirati dirham in sales. (100 Emirati dirham = RM107.65)

The development is located close to Abu Dhabi Global Market (ADGM), reflecting strong investor demand and reinforcing the emirate’s position as a global safe-haven investment destination, according to Modon in a statement.

Modon Holding Group Chief Executive Officer, Bill O’Regan said the project demonstrates sustained market confidence.

“Tara Park further validates Modon’s disciplined, market-driven approach, connecting a prime location and thoughtful placemaking to generate sustainable urban growth and long-term value.

“We continue to see strong demand across the market, which speaks to the confidence that local and international buyers continue to place in Abu Dhabi, particularly for projects where clear attention to quality of life supports future investment potential,” he said.

Tara Park comprises six residential towers with 834 apartments across one-, two-, and three-bedroom layouts that are interlinked by an active podium that connects residents to a wide range of amenities.

Connected to Reem Mall, Tara Park also offers easy access to Fay Park, Sorbonne University Abu Dhabi and Repton School, alongside proximity to Abu Dhabi’s international financial hub, ADGM, The Galleria Mall, and the wider city.

-- BERNAMA