KUALA LUMPUR, Dec 20 -- Jumio, an end-to-end identity verification and authentication solutions provider recently contributed US$10,800 to the Movember Foundation, raising awareness on prostate cancer, testicular cancer, mental health and suicide prevention. (US$100 = RM414.07)
The Movember Foundation is the leading charity dedicated to changing the face of men’s health in the United States and worldwide. It is best known for their annual Movember fundraising campaign that takes place every November.
Last month, Jumio pledged to donate US$100 for every employee who participated in a mustache authentication contest.
More than 100 Jumio global employees participated by either growing a real mustache or wearing fake facial hair and going through the Jumio Authentication process twice — once with facial hair and once without.
The company also demonstrated its Jumio Authentication’s ability to authenticate real users whose physical characteristics had changed.
During Movember, men start clean-shaven and grow a mustache for the month, getting friends, family and colleagues to donate to their efforts.
Since 2003, more than five million men and women have funded over 1,250 innovative projects across more than 20 countries.
-- BERNAMA
Sunday, 29 December 2019
Saturday, 28 December 2019
AM Best removes from under review with negative implications status of PICL New Zealand
KUALA LUMPUR, Dec 20 -- AM Best has removed from under review with negative implications status of Provident Insurance Corporation Limited (PICL) New Zealand.
In a statement, AM Best has affirmed the Financial Strength Rating of B (fair) and the Long-Term Issuer Credit Rating of ‘bb+’ of PICL, making stable outlook on the ratings.
The ratings were placed under review with negative implications in July, which reflected uncertainty around the finalisation of PICL’s year-end March 2019 financial position.
These rating actions follow the conclusion of AM Best’s assessment of the company’s current and prospective financial position.
The ratings reflect PICL’s balance sheet strength, which AM Best classified as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
PICL’s balance sheet strength assessment reflects its risk-adjusted capitalisation, which weakened notably as of fiscal year-end 2019, as measured by Best’s Capital Adequacy Ratio.
Its operating performance has generally exhibited an improving trend since its inception in 2013, primarily driven by a favourable trend in the expense ratio due to growing economies of scale.
AM Best views PICL’s business profile as limited given its relatively small scale of operations, and limited product and geographic diversification in New Zealand.
The company is a niche insurer, with focus on mechanical breakdown insurance, distributed through motor dealerships across New Zealand.
-- BERNAMA
In a statement, AM Best has affirmed the Financial Strength Rating of B (fair) and the Long-Term Issuer Credit Rating of ‘bb+’ of PICL, making stable outlook on the ratings.
The ratings were placed under review with negative implications in July, which reflected uncertainty around the finalisation of PICL’s year-end March 2019 financial position.
These rating actions follow the conclusion of AM Best’s assessment of the company’s current and prospective financial position.
The ratings reflect PICL’s balance sheet strength, which AM Best classified as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
PICL’s balance sheet strength assessment reflects its risk-adjusted capitalisation, which weakened notably as of fiscal year-end 2019, as measured by Best’s Capital Adequacy Ratio.
Its operating performance has generally exhibited an improving trend since its inception in 2013, primarily driven by a favourable trend in the expense ratio due to growing economies of scale.
AM Best views PICL’s business profile as limited given its relatively small scale of operations, and limited product and geographic diversification in New Zealand.
The company is a niche insurer, with focus on mechanical breakdown insurance, distributed through motor dealerships across New Zealand.
-- BERNAMA
Friday, 27 December 2019
LEDDARTECH TO DEMONSTRATE AUTOMOTIVE LIDAR DETECTION AND CLASSIFICATION TECHNOLOGY AT CES 2020 IN LAS VEGAS
QUEBEC CITY, Dec 18 (Bernama-GLOBE NEWSWIRE) -- LeddarTech®, an industry leader in LiDAR technology providing the most versatile and scalable auto and mobility LiDAR platform, announces today that it will join the Canadian Automotive Parts and Manufacturers Association (APMA) and Karma Automotive at CES 2020 as an exhibitor on booth 1025 Tech East Westgate from January 7-10 2020.
The APMA is Canada’s national association representing OEM producers of parts, equipment, tools, supplies, advanced technology, and services for the worldwide automotive industry. LeddarTech has been a member of this association since 2015. The Association’s fundamental objective is to promote the original equipment automotive supply manufacturing industry both domestically and internationally. APMA in collaboration with Karma Automotive and the LeddarTech Automotive Center of Excellence will be presenting technology that advances the path to autonomous driving. “APMA’s work in managing the Canadian Autonomous Vehicle Demo Zone as part of the Government of Ontario’s $80 million Autonomous Vehicle Innovation Network (AVIN) will benefit greatly from the addition of Karma’s Revero GT to our demo vehicle fleet” stated Mr. Warren Ali, APMA’s Vice President of Innovation. “Together, we're excited to explore new technologies that can be integrated into future vehicle platforms and solutions. To bring our Autonomous Driving visions to reality, we are pleased that LeddarTech, a leader in LiDAR technology, is partnering with us on the journey to develop Karma’s luxury autonomous vehicle” Mr. Ali concluded. “LeddarTech is pleased to join APMA at CES. We believe that strategic partnerships and industry collaborations deliver significant value and benefits to our customers and end-users,” said Mr. Michael Poulin, LeddarTech’s Vice President of Product Line. He continued, “We look forward to demonstrating our CES 2020 award-winning Leddar™ Pixell cocoon LiDAR technology with Karma Automotive in their luxurious 2020 Revero GT. We are also excited to unveil LeddarTech’s Pedestrian Classification technology, this live demo powered by the LeddarEngine™ further demonstrates our company’s motivation to lead and advance driver-assistance systems and autonomous driving” concluded Mr. Michael Poulin. |
Tuesday, 24 December 2019
JAPANESE LIVE ENTERTAINMENT COMPANY, SCRAP, ENTERS CHINA MARKET WITH REAL-LIFE IMMERSIVE NARUTO GAME COLLABORATION
TOKYO, Dec 23 (Bernama-BUSINESS WIRE) -- On 23 December 2019, SCRAP will launch a game event collaborating with famous Japanese IP title, NARUTO, in the newly refurbished Shanghai New World Shopping Mall in Shanghai.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191222005038/en/
Titled “Real Stealth Game by SCRAP -Trials of a Ninja-”, the game will be one of the entertainment segments in the 7000 square meter large NARUTO theme park, NARUTO WORLD, that will be situated on the 11th floor of the shopping mall.
This is the first time for the famous Japanese title, NARUTO, game collaboration from SCRAP to reach the China market.
The concept is based on SCRAP’s entertainment brand, Real Stealth Game, where players physically sneak around a venue, clear missions along the way, and complete their final mission.
The game for Shanghai, in Simplified Chinese, will be a wholly redeveloped experience to appeal to the Chinese-speaking audience. Players are fully immersed inside a NARUTO-themed fortress for a 10-20 minutes action-packed experience with high-tech motion sensors, devices, large digital displays, and interactive props.
Business-wise, SCRAP is rebranding their games and business model to actively appeal to overseas audiences and businesses, and seeking global partners to work with and bring these events to even greater heights.
5 Jan 2020 Interview Opportunity:
With this large move to start bringing more of SCRAP’s games overseas, COO and co-founder of SCRAP will visit Shanghai.
Speak with:
1. Vice-president of global strategy department - SCRAP’s future business direction and opportunities
2. COO and co-founder of SCRAP Co., LTD - SCRAP’s games
http://mrem.bernama.com/viewsm.php?idm=36483
Wednesday, 18 December 2019
Kacific's first satellite launched successfully into space
KUALA LUMPUR, Dec 17 -- Kacific1 was launched successfully into space aboard a SpaceX Falcon 9 rocket at 7.10pm Eastern Standard Time (UTC-5) on Dec 16, from the Cape Canaveral Air Force Station in Florida, USA.
According to a statement, it was placed into its target geostationary transfer orbit, 33 minutes following initial ignition.
Owned by Kacific Broadband Satellites Group (Kacific), the Boeing-built communications satellite will stream high-speed broadband to 25 nations in South East Asia and the Pacific Islands via 56 high-throughput beams.
“Kacific1 is the newest and most powerful commercial satellite operating in the Asia-Pacific region, placing Kacific in an excellent position to grow alongside these markets,” said Kacific founder and chief executive officer, Christian Patouraux.
“Its range of services, from mobile backhaul to broadband internet via VSAT terminals, will provide a catalyst for positive change in the nations it is about to serve. I’m thrilled to start seeing the social and economic impact of Kacific1.”
Kacific1 will cover Indonesia, The Philippines, Timor-Leste and South Asia with 28 spot beams, while the Pacific Islands and New Zealand will be covered with a further 28 beams.
Following a sequence of in-orbit manoeuvres and tests that are expected to take approximately six weeks, Kacific1 is scheduled to begin commercial operations in the first quarter next year.
-- BERNAMA
According to a statement, it was placed into its target geostationary transfer orbit, 33 minutes following initial ignition.
Owned by Kacific Broadband Satellites Group (Kacific), the Boeing-built communications satellite will stream high-speed broadband to 25 nations in South East Asia and the Pacific Islands via 56 high-throughput beams.
“Kacific1 is the newest and most powerful commercial satellite operating in the Asia-Pacific region, placing Kacific in an excellent position to grow alongside these markets,” said Kacific founder and chief executive officer, Christian Patouraux.
“Its range of services, from mobile backhaul to broadband internet via VSAT terminals, will provide a catalyst for positive change in the nations it is about to serve. I’m thrilled to start seeing the social and economic impact of Kacific1.”
Kacific1 will cover Indonesia, The Philippines, Timor-Leste and South Asia with 28 spot beams, while the Pacific Islands and New Zealand will be covered with a further 28 beams.
Following a sequence of in-orbit manoeuvres and tests that are expected to take approximately six weeks, Kacific1 is scheduled to begin commercial operations in the first quarter next year.
-- BERNAMA
Tuesday, 17 December 2019
AM BEST AFFIRMS CREDIT RATINGS OF BAO MINH INSURANCE CORPORATION
SINGAPORE, Dec 16 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Bao Minh Insurance Corporation (BMI) (Vietnam). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect BMI’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
BMI’s balance sheet strength assessment is underpinned by risk-adjusted capitalization that remains at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite the company’s moderate dividend payout ratio, which has limited the company’s capital growth, retained earnings have remained sufficient to bolster shareholders’ equity and support business growth. Offsetting balance sheet considerations include the company’s simplistic asset liability management framework for the management of long-duration products.
AM Best views the company’s operating performance as adequate, as evidenced by a five-year average return-on-equity ratio of 6.8% (2014-2018). BMI’s underwriting performance has operated consistently at a close to a break-even position, with a five-year average combined ratio of 98.1% (2014-2018). BMI’s technical performance remains constrained partially by its elevated operating expense ratio. Despite this, the company’s overall earnings remain supported by robust investment returns arising mainly from interest income on term deposits. AM Best expects the organization to continue to focus on underwriting profitability despite rising competitive pressures. However, there are concerns that the long-duration health and personal accident products may exhibit higher loss ratios in later policy years.
AM Best assesses BMI’s business profile as neutral. In 2018, the company reported gross written premiums (GWP) of VND 4.0 trillion (USD 174 million), ranking it fourth by market share among non-life insurers in Vietnam. BMI continues to benefit from the business referrals through its major shareholder. The company’s premium is well-diversified by product. The main lines of businesses are personal accident and health, motor, and property and engineering, which collectively accounted for approximately 76% of GWP in 2018.
AM Best considers the company’s ERM framework as appropriate given the size and complexity of its operations. Risk management capabilities are aligned typically with the profile of its key risks.
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 Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
http://mrem.bernama.com/viewsm.php?idm=36415
The ratings reflect BMI’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
BMI’s balance sheet strength assessment is underpinned by risk-adjusted capitalization that remains at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite the company’s moderate dividend payout ratio, which has limited the company’s capital growth, retained earnings have remained sufficient to bolster shareholders’ equity and support business growth. Offsetting balance sheet considerations include the company’s simplistic asset liability management framework for the management of long-duration products.
AM Best views the company’s operating performance as adequate, as evidenced by a five-year average return-on-equity ratio of 6.8% (2014-2018). BMI’s underwriting performance has operated consistently at a close to a break-even position, with a five-year average combined ratio of 98.1% (2014-2018). BMI’s technical performance remains constrained partially by its elevated operating expense ratio. Despite this, the company’s overall earnings remain supported by robust investment returns arising mainly from interest income on term deposits. AM Best expects the organization to continue to focus on underwriting profitability despite rising competitive pressures. However, there are concerns that the long-duration health and personal accident products may exhibit higher loss ratios in later policy years.
AM Best assesses BMI’s business profile as neutral. In 2018, the company reported gross written premiums (GWP) of VND 4.0 trillion (USD 174 million), ranking it fourth by market share among non-life insurers in Vietnam. BMI continues to benefit from the business referrals through its major shareholder. The company’s premium is well-diversified by product. The main lines of businesses are personal accident and health, motor, and property and engineering, which collectively accounted for approximately 76% of GWP in 2018.
AM Best considers the company’s ERM framework as appropriate given the size and complexity of its operations. Risk management capabilities are aligned typically with the profile of its key risks.
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 Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
http://mrem.bernama.com/viewsm.php?idm=36415
IELTS: Official English test provider for UK visas
KUALA LUMPUR, Dec 17 -- The International English Language Testing System (IELTS), the world’s most trusted language test will continue to be accepted for UK visas that require applicants to demonstrate their English.
This is according to the announcement by the UK Visas and Immigration (UKVI).
Following a tender process, IELTS was reappointed as an official test provider for visas required as part of UK immigration applications.
IELTS managing director at Cambridge Assessment English, Christine Nuttall said: “This announcement is a testament to the ongoing value and trust placed in IELTS by the United Kingdom Government and test takers around the world.”
IELTS is the only test trusted for migration purposes by the governments of the UK, Australia, Canada and New Zealand.
IELTS for UKVI and IELTS Life Skills can be taken at more than 110 centres across the IELTS global network.
-- BERNAMA
This is according to the announcement by the UK Visas and Immigration (UKVI).
Following a tender process, IELTS was reappointed as an official test provider for visas required as part of UK immigration applications.
IELTS managing director at Cambridge Assessment English, Christine Nuttall said: “This announcement is a testament to the ongoing value and trust placed in IELTS by the United Kingdom Government and test takers around the world.”
IELTS is the only test trusted for migration purposes by the governments of the UK, Australia, Canada and New Zealand.
IELTS for UKVI and IELTS Life Skills can be taken at more than 110 centres across the IELTS global network.
-- BERNAMA
Monday, 16 December 2019
Juniper Networks upgrades Russia´s largest digital provider infrastructure
KUALA LUMPUR, Dec 3 -- Juniper Networks, a leader in secure, AI-driven networks has provided a major infrastructure upgrade to Russia’s largest digital services provider, Rostelecom.
The contract is a large scale modernisation using Juniper Networks’ MX Series 5G Universal Routing Platform and PTX Series Packet Transport Routers to improve one of the key communication transport backbones across Russia.
Rostelecom has immediately saved over five per cent on operational expenses due to lower power consumption and improved network efficiency.
It has renewed the service agreement for three years with Juniper’s best in class services support for more than 14,000 network nodes.
With this agreement, Rostelecom will improve network performance with technical support, as Juniper’s resident engineers are located in different regions and they will adapt configuration to get the best performance from network, and also improve its processes in its branch offices.
Rostelecom aims to mitigate risk, getting support in case of outages and will have a recovery plan in place.
-- BERNAMA
The contract is a large scale modernisation using Juniper Networks’ MX Series 5G Universal Routing Platform and PTX Series Packet Transport Routers to improve one of the key communication transport backbones across Russia.
Rostelecom has immediately saved over five per cent on operational expenses due to lower power consumption and improved network efficiency.
It has renewed the service agreement for three years with Juniper’s best in class services support for more than 14,000 network nodes.
With this agreement, Rostelecom will improve network performance with technical support, as Juniper’s resident engineers are located in different regions and they will adapt configuration to get the best performance from network, and also improve its processes in its branch offices.
Rostelecom aims to mitigate risk, getting support in case of outages and will have a recovery plan in place.
-- BERNAMA
OneConnect announces initial public offering pricing
KUALA LUMPUR, Dec 13 -- OneConnect Financial Technology Co Ltd (OneConnect) recently announced its initial public offering pricing of 31,200,000 American Depositary Shares (ADSs), each representing three ordinary shares, at a price to the public of US$10 per ADS. (US$10 = RM41.40)
In a statement, the leading technology-as-a-service platform for financial institutions in China said OneConnect had granted the underwriters an option to purchase up to an additional 4,680,000 ADSs to cover over-allotments.
The total gross proceeds of the offering are expected to be approximately US$358.8 million if the underwriters choose to exercise their over-allotment option in full.
The ADSs have been approved for listing on the New York Stock Exchange and are expected to begin trading on Dec 13 under the symbol ‘OCFT’.
The offering is expected to close on Dec 17, subject to the satisfaction of customary closing conditions.
Morgan Stanley & Co. LLC, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, Ping An of China Securities (Hong Kong) Company Limited are acting as active joint bookrunners and as representatives of the underwriters, BofA Securities, Inc. and HSBC Securities (USA) Inc. are acting as passive joint bookrunners and as representatives of the underwriters, and CLSA Limited and KeyBanc Capital Markets Inc. are acting as co-managers for this offering.
A registration statement on Form F-1 relating to the securities being sold in this offering has been filed with the Securities and Exchange Commission and declared effective.
Copies of the registration statement can be accessed on the website of the SEC at www.sec.gov.
-- BERNAMA
In a statement, the leading technology-as-a-service platform for financial institutions in China said OneConnect had granted the underwriters an option to purchase up to an additional 4,680,000 ADSs to cover over-allotments.
The total gross proceeds of the offering are expected to be approximately US$358.8 million if the underwriters choose to exercise their over-allotment option in full.
The ADSs have been approved for listing on the New York Stock Exchange and are expected to begin trading on Dec 13 under the symbol ‘OCFT’.
The offering is expected to close on Dec 17, subject to the satisfaction of customary closing conditions.
Morgan Stanley & Co. LLC, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, Ping An of China Securities (Hong Kong) Company Limited are acting as active joint bookrunners and as representatives of the underwriters, BofA Securities, Inc. and HSBC Securities (USA) Inc. are acting as passive joint bookrunners and as representatives of the underwriters, and CLSA Limited and KeyBanc Capital Markets Inc. are acting as co-managers for this offering.
A registration statement on Form F-1 relating to the securities being sold in this offering has been filed with the Securities and Exchange Commission and declared effective.
Copies of the registration statement can be accessed on the website of the SEC at www.sec.gov.
-- BERNAMA
Sunday, 15 December 2019
World's leading car rental company award goes to Avis
KUALA LUMPUR, Dec 11 -- Avis has been named the world’s leading car rental company at the World Travel Awards 2019 Grand Final for the second consecutive year.
In a statement, Avis said the award was announced at an awards ceremony in Muscat, Oman recently.
Avis Budget Group president (International), Keith Rankin said: “We pride ourselves on delivering premium service, whilst constantly innovating, evolving and adopting the latest technology to reinvent the rental experience, helping to make it more connected, streamlined and on-demand.
“The award is also testament to our highly-trained agents and experienced teams at the 5,500 Avis locations worldwide, delivering increasingly high levels of customer experience and satisfaction.”
The 26th annual World Travel Awards is globally recognised as a highly prestigious honours programme in global travel and tourism.
The awards are voted by travel and tourism professionals and consumers worldwide, and this honour recognises the brands’ commitment to excellence, with an ultimate industry accolade.
-- BERNAMA
In a statement, Avis said the award was announced at an awards ceremony in Muscat, Oman recently.
Avis Budget Group president (International), Keith Rankin said: “We pride ourselves on delivering premium service, whilst constantly innovating, evolving and adopting the latest technology to reinvent the rental experience, helping to make it more connected, streamlined and on-demand.
“The award is also testament to our highly-trained agents and experienced teams at the 5,500 Avis locations worldwide, delivering increasingly high levels of customer experience and satisfaction.”
The 26th annual World Travel Awards is globally recognised as a highly prestigious honours programme in global travel and tourism.
The awards are voted by travel and tourism professionals and consumers worldwide, and this honour recognises the brands’ commitment to excellence, with an ultimate industry accolade.
-- BERNAMA
Tuesday, 10 December 2019
VF CORPORATION ANNOUNCES NEW SCIENCE-BASED TARGETS TO ACCELERATE SOCIAL AND ENVIRONMENTAL RESPONSIBILITY PROGRAMS
New goals are part of the latest Made for Change Sustainability & Responsibility Report
DENVER, Dec 6 (Bernama-BUSINESS WIRE) -- VF Corporation (NYSE: VFC), one of the world’s largest apparel, footwear and accessories companies, today published the latest iteration of its Made for Change Sustainability & Responsibility report, including the announcement of industry-leading science-based targets (SBTs) and a bold vision for sustainable materials.
VF’s Made for Change report details the company’s aspirations for advancing environmental and social improvements across its business, portfolio of brands, global supply chain and communities worldwide. The report also highlights achievements from the last reporting year, which was 2018.
“Our workforce of 50,000 performance-driven people share a commitment to be more than just an apparel and footwear company. We strive to be a purpose-led enterprise that leverages the strength of our business to deliver positive impacts for people and the planet we share,” said Steve Rendle, VF’s Chairman, President and CEO. “We're proud of our progress but know there is so much more we can do. Our Made for Change strategy outlines our forward-looking priorities and provides us with a renewed focus to push ourselves harder and farther as we address some of our industry’s most challenging issues.”
VF’s Made for Change strategy focuses on three areas:
DENVER, Dec 6 (Bernama-BUSINESS WIRE) -- VF Corporation (NYSE: VFC), one of the world’s largest apparel, footwear and accessories companies, today published the latest iteration of its Made for Change Sustainability & Responsibility report, including the announcement of industry-leading science-based targets (SBTs) and a bold vision for sustainable materials.
VF’s Made for Change report details the company’s aspirations for advancing environmental and social improvements across its business, portfolio of brands, global supply chain and communities worldwide. The report also highlights achievements from the last reporting year, which was 2018.
“Our workforce of 50,000 performance-driven people share a commitment to be more than just an apparel and footwear company. We strive to be a purpose-led enterprise that leverages the strength of our business to deliver positive impacts for people and the planet we share,” said Steve Rendle, VF’s Chairman, President and CEO. “We're proud of our progress but know there is so much more we can do. Our Made for Change strategy outlines our forward-looking priorities and provides us with a renewed focus to push ourselves harder and farther as we address some of our industry’s most challenging issues.”
VF’s Made for Change strategy focuses on three areas:
- Circular Business Models: The commercialization of circular business models to reduce VF’s environmental impact while creating new growth opportunities;
- Scale for Good: Leveraging VF’s global scale and influence to drive impact reduction across the business and broader industry; and,
- Movement Makers: Enabling VF and its brands to serve as a catalyst for powering movements of sustainable and active lifestyles for the betterment of people and our planet.
Made for Change Report Highlights
As outlined in the report, and in alignment with the UN Sustainable Development Goals, VF has made measurable progress against its targets. Highlights include:
As outlined in the report, and in alignment with the UN Sustainable Development Goals, VF has made measurable progress against its targets. Highlights include:
- 50 percent of VF’s distribution centers around the world are zero-waste facilities;
- 16 of VF’s owned buildings are LEED certified;
- The launch of a bold sustainable materials vision focusing on three key concepts: regenerative, responsibly sourced renewable, and recycled materials; and,
- The improvement of worker livelihoods in Bangladesh, Cambodia, India, the Dominican Republic, Vietnam, China, Kenya and Lesotho through VF’s Worker and Community Development (WCD) Program.
VF’s Science-Based Targets Approved by the Science Based Targets initiative
VF’s new science-based targets (SBTs) are among the most ambitious in the industry and are aligned with the ideology of using its global scale for good. SBTs are greenhouse gas emission reduction targets that are in line with meeting the goals of the Paris Agreement.
“VF is the largest company in the textiles, apparel, and luxury goods sector to set a 1.5-degree target for its Scope 1 and Scope 2 emissions, and a well-below 2-degree target for its product-related Scope 3 emissions,” stated Ben Peel, Consultant, the Carbon Trust.
VF underwent an intensive, two-year long collaborative process to develop its new SBTs. The company partnered with global consultancy, the Carbon Trust, to model data across its owned and operated facilities as well as its entire operations from farm to retail store; and engaged deeply with its entire value chain. Primary data was gathered from VF’s 1,400 owned facilities, distribution centers and global logistics as well as more than 100 Tier 1 and Tier 2 suppliers, strengthening its ability to identify and implement reduction strategies.
VF’s science-based carbon emissions targets include:
VF’s new science-based targets (SBTs) are among the most ambitious in the industry and are aligned with the ideology of using its global scale for good. SBTs are greenhouse gas emission reduction targets that are in line with meeting the goals of the Paris Agreement.
“VF is the largest company in the textiles, apparel, and luxury goods sector to set a 1.5-degree target for its Scope 1 and Scope 2 emissions, and a well-below 2-degree target for its product-related Scope 3 emissions,” stated Ben Peel, Consultant, the Carbon Trust.
VF underwent an intensive, two-year long collaborative process to develop its new SBTs. The company partnered with global consultancy, the Carbon Trust, to model data across its owned and operated facilities as well as its entire operations from farm to retail store; and engaged deeply with its entire value chain. Primary data was gathered from VF’s 1,400 owned facilities, distribution centers and global logistics as well as more than 100 Tier 1 and Tier 2 suppliers, strengthening its ability to identify and implement reduction strategies.
VF’s science-based carbon emissions targets include:
- An absolute reduction of Scope 1 and 2 greenhouse gas emissions 55 percent by 2030, from a 2017 baseline year; and,
- An absolute reduction of Scope 3 greenhouse gas emissions 30 percent by 2030, from a 2017 baseline year focusing on farm-to-retail materials, sourcing operations and logistics.
The Science Based Targets initiative champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.
“This is the most comprehensive strategic advice we have delivered to an organization on how it can achieve its SBTs across its own operations and its value chain,” said Tom Delay, Chief Executive, the Carbon Trust. “This work sends a strong signal to the apparel sector about the degree of transformation needed to truly address emissions across global supply and distribution chains and multiple brands. The collaborative development process and focus on influencing others is what true corporate leadership looks like. We are excited to see VF achieve its ambitious goals.”
A New Vision for Sustainable Materials
Also announced today, VF’s new sustainable materials vision is key to achieving its SBTs. Extraction, production and manufacturing of raw materials account for the largest portion of VF’s carbon emissions globally. The innovative vision establishes a clear path for reduction through yet another bold commitment:
By 2030, VF commits that 100 percent of its top nine materials, which account for approximately 90 percent of its materials-related carbon emissions, will originate from regenerative, responsibly sourced renewable, or recycled sources.
Using tools such as the Sustainable Apparel Coalition’s Materials Sustainability Index and Life Cycle Analysis methodologies, VF is assessing its materials choices within these three areas to identify the greatest opportunities for environmental impact reduction, and to understand how accelerating against these choices will contribute to achieving its science-based targets.
More information about VF and its Made for Change Sustainability & Responsibility report can be found at www.vfc.com.
About VF Corporation
Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.
About the Carbon Trust
The Carbon Trust is an independent, expert partner of leading organisations around the world, helping them contribute to and benefit from a more sustainable future.
“This is the most comprehensive strategic advice we have delivered to an organization on how it can achieve its SBTs across its own operations and its value chain,” said Tom Delay, Chief Executive, the Carbon Trust. “This work sends a strong signal to the apparel sector about the degree of transformation needed to truly address emissions across global supply and distribution chains and multiple brands. The collaborative development process and focus on influencing others is what true corporate leadership looks like. We are excited to see VF achieve its ambitious goals.”
A New Vision for Sustainable Materials
Also announced today, VF’s new sustainable materials vision is key to achieving its SBTs. Extraction, production and manufacturing of raw materials account for the largest portion of VF’s carbon emissions globally. The innovative vision establishes a clear path for reduction through yet another bold commitment:
By 2030, VF commits that 100 percent of its top nine materials, which account for approximately 90 percent of its materials-related carbon emissions, will originate from regenerative, responsibly sourced renewable, or recycled sources.
Using tools such as the Sustainable Apparel Coalition’s Materials Sustainability Index and Life Cycle Analysis methodologies, VF is assessing its materials choices within these three areas to identify the greatest opportunities for environmental impact reduction, and to understand how accelerating against these choices will contribute to achieving its science-based targets.
More information about VF and its Made for Change Sustainability & Responsibility report can be found at www.vfc.com.
About VF Corporation
Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.
About the Carbon Trust
The Carbon Trust is an independent, expert partner of leading organisations around the world, helping them contribute to and benefit from a more sustainable future.
- We advise businesses, governments and the public sector on their opportunities in a sustainable, low carbon world.
- We measure and certify the environmental footprint of organisations, supply chains and products.
- We develop and deploy low carbon technologies and solutions, from energy efficiency to renewable power.
Contact
Molly Cuffe
Director, Corporate Responsibility Communications
Molly_Cuffe@vfc.com
Source : VF Corporation
TELUS CORPORATION ANNOUNCES AGREEMENT TO ACQUIRE COMPETENCE CALL CENTER THROUGH TELUS INTERNATIONAL
Merger adds significant scale to TELUS International, and expands its growing enterprise value to approximately C$5 billion
Further growth potential positions TELUS International for a future initial public offering targeted in the next 12-24 months
VANCOUVER, British Columbia, Dec 5 (Bernama-GLOBE NEWSWIRE) -- Today, TELUS Corporation (T-TSX; NYSE-TU), through TELUS International, a customer experience innovator that designs, builds and delivers next-generation digital solutions for global brands, announced that it has agreed to acquire privately-owned Competence Call Center (CCC), a leading provider of higher-value-added business services with a focus on customer relationship management and content moderation, for approximately €915 million (approximately C$1.3 billion) consisting of debt and equity, subject to customary closing adjustments.
“We are pleased to welcome Competence Call Center employees and customers into our TELUS family,” said Darren Entwistle, President and CEO of TELUS. “Today’s announcement adds significant scale and diversity to TELUS International – an important and differentiated growth driver for TELUS – and increases substantially the organization’s estimated enterprise value to approximately C$5 billion. The expanded capabilities of the combined companies will further elevate the globally admired customer experience and innovative digital solutions that are synonymous with the TELUS International brand. Importantly, the merger will positively impact the financial and operational strength of TELUS, supporting the advancement of our world-leading broadband networks in Canada as well as our global leadership in customer service excellence. Moreover, the acquisition of Competence Call Center further bolsters the continued advancement of TELUS International’s successful growth strategy by positioning them well for a potential future initial public offering targeted in the next 12-24 months, positioning the organization for continued growth in the years to come.”
“Today’s announcement is another remarkable milestone in our company’s strategic growth journey, building upon our significant momentum in the market and further supporting our ability to deliver differentiated customer experiences and enable new go-to-market opportunities for the valued brands we partner with around the world,” said Jeff Puritt, President and CEO, TELUS International. “Post-merger, TELUS International’s size, scope and reach will grow to encompass almost 50,000 of the most inspired team members, providing customer experience, digital transformation, content moderation, IT lifecycle, advisory and digital consulting, risk management, and back-office support in over 50 languages from more than 50 delivery centres in 20 countries across North and Central America, Europe and Asia.”
Founded in 1998 in Austria, CCC is headquartered today in Berlin, Germany and provides its award winning services across 11 European countries1, with more than 8,500 employees. CCC partners with industry-leading global brands primarily from fast-growing technology, media and telecommunications, retail, and travel and hospitality sectors - key growth verticals for TELUS International. The acquisition of CCC will result in a sizeable diversification of TELUS International’s operations and client base in Europe. CCC’s capabilities will enhance TELUS International’s ability to deliver its signature customer service excellence to customers, which includes TELUS and its leading wireless and wireline broadband network in Canada.
The acquisition is expected to add significant scale to TELUS International, an important and differentiated growth driver for TELUS, and will support TELUS’ consolidated financial and operating results including revenue, EBITDA and free cash flow growth. In fiscal 2019, CCC is expected to report revenue of approximately C$450 million. On a pro-forma basis, TELUS International’s 2019 combined annualized revenue will surpass C$1.75 billion and EBITDA will increase to approximately C$400 million. The acquisition of CCC will be immediately revenue and EBITDA accretive to TELUS and TELUS International, as well as EBITDA margin accretive to TELUS International. Additionally, given the low capital intensity of the combined business, the transaction is also expected to support immediate free cash flow expansion.
“This is an exciting day for our entire Competence Call Center team as we look ahead to joining our two companies’ like-minded caring cultures focused on team member development and engagement to drive customer service excellence,” said Christian Legat, CEO, CCC. “We share the TELUS International team’s passionate commitment to putting customers first and are looking forward to coming together as one organization to amplify the power, reach and performance of our combined capabilities for the benefit of our clients and our teams.”
The acquisition of CCC will be financed from TELUS International non-recourse credit facilities and additional equity from TELUS Corporation and Baring Private Equity Asia (BPEA). As part of the transaction, CCC’s senior management will reinvest a significant portion of their equity ownership in CCC into TELUS International. TELUS Corporation’s and BPEA’s equity capital contributions are expected to be approximately C$165 million and approximately C$90 million, respectively. Following the close of the acquisition, TELUS Corporation will retain an approximate 62 per cent interest in TELUS International. The acquisition is subject to customary closing conditions and regulatory approvals. Closing is expected to occur in the early part of the first quarter of 2020.
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications and information technology company with C$14.6 billion in annual revenue and 14.5 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security. We leverage our global-leading technology to enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. TELUS Health is Canada's largest healthcare IT provider, and TELUS International delivers the most innovative business process solutions to some of the world’s most established brands.
Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than C$700 million and 1.3 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. For more information about TELUS, please visit telus.com.
Forward-looking statements:
This news release contains statements about expected future events, including statements relating to the planned acquisition of Competence Call Center (CCC) by TELUS International, the expected timing of the transaction, the expected benefits of the transaction and plans for its integration (including statements regarding CCC’s expected revenue and TELUS International’s 2019 combined revenue and EBITDA), potential plans and timing of an initial public offering (IPO) by TELUS International as well as the expected enterprise value of TELUS International following the acquisition. By their nature, forward-looking statements require TELUS to make assumptions and predictions and are subject to inherent risks and uncertainties. There can be no assurance that the acquisition will be completed as expected or upon the terms and conditions described in this news release, that required regulatory approvals will be obtained, that the expected financial results or the expected benefits of the transaction (including the expected increase to TELUS International’s enterprise value) will be realized, or that an IPO by TELUS International will be completed within the targeted time frame or at all. There is significant risk that the forward-looking statements will not prove to be accurate. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future events to differ materially from those expressed in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions, qualifications and risk factors referred to in TELUS' 2019 third quarter Management’s discussion and analysis and 2018 annual report, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
For more information, please contact:
TELUS Media Relations
François Gaboury
(438) 862-5136
francois.gaboury@telus.com
TELUS Investor Relations
Robert Mitchell
(647) 837-1606
ir@telus.com
1 Austria, Bosnia & Herzegovina, France, Germany, Latvia, Poland, Romania (TELUS International has existing sites), Slovakia, Spain, Switzerland, Turkey
SOURCE : TELUS Communications Inc
Further growth potential positions TELUS International for a future initial public offering targeted in the next 12-24 months
VANCOUVER, British Columbia, Dec 5 (Bernama-GLOBE NEWSWIRE) -- Today, TELUS Corporation (T-TSX; NYSE-TU), through TELUS International, a customer experience innovator that designs, builds and delivers next-generation digital solutions for global brands, announced that it has agreed to acquire privately-owned Competence Call Center (CCC), a leading provider of higher-value-added business services with a focus on customer relationship management and content moderation, for approximately €915 million (approximately C$1.3 billion) consisting of debt and equity, subject to customary closing adjustments.
“We are pleased to welcome Competence Call Center employees and customers into our TELUS family,” said Darren Entwistle, President and CEO of TELUS. “Today’s announcement adds significant scale and diversity to TELUS International – an important and differentiated growth driver for TELUS – and increases substantially the organization’s estimated enterprise value to approximately C$5 billion. The expanded capabilities of the combined companies will further elevate the globally admired customer experience and innovative digital solutions that are synonymous with the TELUS International brand. Importantly, the merger will positively impact the financial and operational strength of TELUS, supporting the advancement of our world-leading broadband networks in Canada as well as our global leadership in customer service excellence. Moreover, the acquisition of Competence Call Center further bolsters the continued advancement of TELUS International’s successful growth strategy by positioning them well for a potential future initial public offering targeted in the next 12-24 months, positioning the organization for continued growth in the years to come.”
“Today’s announcement is another remarkable milestone in our company’s strategic growth journey, building upon our significant momentum in the market and further supporting our ability to deliver differentiated customer experiences and enable new go-to-market opportunities for the valued brands we partner with around the world,” said Jeff Puritt, President and CEO, TELUS International. “Post-merger, TELUS International’s size, scope and reach will grow to encompass almost 50,000 of the most inspired team members, providing customer experience, digital transformation, content moderation, IT lifecycle, advisory and digital consulting, risk management, and back-office support in over 50 languages from more than 50 delivery centres in 20 countries across North and Central America, Europe and Asia.”
Founded in 1998 in Austria, CCC is headquartered today in Berlin, Germany and provides its award winning services across 11 European countries1, with more than 8,500 employees. CCC partners with industry-leading global brands primarily from fast-growing technology, media and telecommunications, retail, and travel and hospitality sectors - key growth verticals for TELUS International. The acquisition of CCC will result in a sizeable diversification of TELUS International’s operations and client base in Europe. CCC’s capabilities will enhance TELUS International’s ability to deliver its signature customer service excellence to customers, which includes TELUS and its leading wireless and wireline broadband network in Canada.
The acquisition is expected to add significant scale to TELUS International, an important and differentiated growth driver for TELUS, and will support TELUS’ consolidated financial and operating results including revenue, EBITDA and free cash flow growth. In fiscal 2019, CCC is expected to report revenue of approximately C$450 million. On a pro-forma basis, TELUS International’s 2019 combined annualized revenue will surpass C$1.75 billion and EBITDA will increase to approximately C$400 million. The acquisition of CCC will be immediately revenue and EBITDA accretive to TELUS and TELUS International, as well as EBITDA margin accretive to TELUS International. Additionally, given the low capital intensity of the combined business, the transaction is also expected to support immediate free cash flow expansion.
“This is an exciting day for our entire Competence Call Center team as we look ahead to joining our two companies’ like-minded caring cultures focused on team member development and engagement to drive customer service excellence,” said Christian Legat, CEO, CCC. “We share the TELUS International team’s passionate commitment to putting customers first and are looking forward to coming together as one organization to amplify the power, reach and performance of our combined capabilities for the benefit of our clients and our teams.”
The acquisition of CCC will be financed from TELUS International non-recourse credit facilities and additional equity from TELUS Corporation and Baring Private Equity Asia (BPEA). As part of the transaction, CCC’s senior management will reinvest a significant portion of their equity ownership in CCC into TELUS International. TELUS Corporation’s and BPEA’s equity capital contributions are expected to be approximately C$165 million and approximately C$90 million, respectively. Following the close of the acquisition, TELUS Corporation will retain an approximate 62 per cent interest in TELUS International. The acquisition is subject to customary closing conditions and regulatory approvals. Closing is expected to occur in the early part of the first quarter of 2020.
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications and information technology company with C$14.6 billion in annual revenue and 14.5 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security. We leverage our global-leading technology to enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. TELUS Health is Canada's largest healthcare IT provider, and TELUS International delivers the most innovative business process solutions to some of the world’s most established brands.
Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than C$700 million and 1.3 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. For more information about TELUS, please visit telus.com.
Forward-looking statements:
This news release contains statements about expected future events, including statements relating to the planned acquisition of Competence Call Center (CCC) by TELUS International, the expected timing of the transaction, the expected benefits of the transaction and plans for its integration (including statements regarding CCC’s expected revenue and TELUS International’s 2019 combined revenue and EBITDA), potential plans and timing of an initial public offering (IPO) by TELUS International as well as the expected enterprise value of TELUS International following the acquisition. By their nature, forward-looking statements require TELUS to make assumptions and predictions and are subject to inherent risks and uncertainties. There can be no assurance that the acquisition will be completed as expected or upon the terms and conditions described in this news release, that required regulatory approvals will be obtained, that the expected financial results or the expected benefits of the transaction (including the expected increase to TELUS International’s enterprise value) will be realized, or that an IPO by TELUS International will be completed within the targeted time frame or at all. There is significant risk that the forward-looking statements will not prove to be accurate. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future events to differ materially from those expressed in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions, qualifications and risk factors referred to in TELUS' 2019 third quarter Management’s discussion and analysis and 2018 annual report, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
For more information, please contact:
TELUS Media Relations
François Gaboury
(438) 862-5136
francois.gaboury@telus.com
TELUS Investor Relations
Robert Mitchell
(647) 837-1606
ir@telus.com
1 Austria, Bosnia & Herzegovina, France, Germany, Latvia, Poland, Romania (TELUS International has existing sites), Slovakia, Spain, Switzerland, Turkey
SOURCE : TELUS Communications Inc
Friday, 6 December 2019
PW Power Systems mobile gas turbine units to operate in Puerto Rico
KUALA LUMPUR, Dec 6 -- PW Power Systems (PWPS), an aero-derivative power generation energy solutions provider announced that Puerto Rico Electric Power Authority (PREPA) has three PWPS FT8® MOBILEPAC® gas turbines ready for operation.
According to a statement, the 30-megawatt mobile gas turbine units are now available for emergency power, as well as for grid security in support of Puerto Rico’s environmental sustainability plan.
PWPS supported ARG Precision Corporation, which completed the turnkey installation of the FT8 MOBILEPAC dual-fuel capacity gas turbines at the Palo Seco Power Plant in Toa Baja.
According to Puerto Rico Governor Wanda Vazquez, the three generators provide opportunity for fast response in the event of an emergency or situation where energy is lost in the metropolitan area.
“In eight to 10 minutes, we can energise the system and provide electricity to about 40,000 customers. Critical services such as hospitals in the metropolitan area will also have that security.”
PWPS President and Chief Executive Officer, Raul Pereda said: “For the long term, this technology is a multi-faceted solution that helps to achieve resilience when extreme weather hits and allows PREPA to move toward integration with the new renewable portfolio standard.
“Its energy efficiency and fast-start demand response provide significant flexibility when dealing with the challenge of uncertain load forecasts and supplies reliable power when Puerto Rico needs it most.”
-- BERNAMA
KYRIBA AND SCIENTIST.COM IMPROVE FUNDING OF SCIENTIFIC RESEARCH THROUGH SCIPAY™
Kyriba Supply Chain Finance Technology Helps Scientist.com Make Early Payment Options Available to All R&D Suppliers
SAN DIEGO, Dec 6 (Bernama-BUSINESS WIRE) -- Kyriba, the global leader in cloud treasury and finance solutions, today announced that the company’s strategic partnership with Scientist.com has led to the creation of SciPay™, an early payment platform for suppliers of pharmaceutical R&D services. All of Scientist.com’s 3,100+ signed suppliers now have the ability to choose from multiple early payment options, use dynamic discounting and manage invoices online. Suppliers can even choose to receive payment the same day, an advantage previously only available to large suppliers.
“SciPay is powered by Kyriba’s industry-leading supply chain finance technology,” said Kris Kagan, Vice President of Finance, Scientist.com. “Together, we have created a state-of-the-art online platform that enables suppliers to receive early payments, manage invoices and increase cash flow. Suppliers benefit from an acceleration in their project timelines and a reduction in research gaps resulting from better access to capital and on-time payments.”
Launched just six months ago, SciPay’s initial results have been impressive:
SAN DIEGO, Dec 6 (Bernama-BUSINESS WIRE) -- Kyriba, the global leader in cloud treasury and finance solutions, today announced that the company’s strategic partnership with Scientist.com has led to the creation of SciPay™, an early payment platform for suppliers of pharmaceutical R&D services. All of Scientist.com’s 3,100+ signed suppliers now have the ability to choose from multiple early payment options, use dynamic discounting and manage invoices online. Suppliers can even choose to receive payment the same day, an advantage previously only available to large suppliers.
“SciPay is powered by Kyriba’s industry-leading supply chain finance technology,” said Kris Kagan, Vice President of Finance, Scientist.com. “Together, we have created a state-of-the-art online platform that enables suppliers to receive early payments, manage invoices and increase cash flow. Suppliers benefit from an acceleration in their project timelines and a reduction in research gaps resulting from better access to capital and on-time payments.”
Launched just six months ago, SciPay’s initial results have been impressive:
- >95% of payments made on time
- 50% reduction of the procurement process lifecycle
- 60-day reduction in payment terms
- $4M in early payments to suppliers
- 130% year-over-year increase in suppliers’ gross merchandise value
“The early payment option in Scientist.com’s SciPay platform has met the payment needs of our company and our customers,” said Michael Biron, CEO at Altis Biosystems. “Without SciPay, the payment process may have taken too long for some of our customers’ projects to be completed within their development schedule.”
“Scientist.com is improving the medical research process with SciPay, an innovative application of working capital technology that enables faster access to capital,” said Jean-Luc Robert, Chairman and CEO, Kyriba. “This is an excellent use case of how organizations can leverage Kyriba’s SaaS technology to deliver transformative results with minimal startup costs.”
Scientist.com was Highly Commended at the Supply Chain Finance (SCF) Awards held on November 28, 2019 in Amsterdam in the category of Best SCF Programme in Technology & Telecoms.
About Kyriba Corp.
Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.
For more information about Kyriba Supply Chain Finance, visit www.kyriba.com/solutions.
About Scientist.com
Scientist.com is the world's leading marketplace for outsourced R&D. The marketplace simplifies R&D sourcing, saving time and money, reducing risk and providing access to the latest innovative tools and technologies. Scientist.com operates private enterprise marketplaces for most of the world’s major pharmaceutical companies, the Biotechnology Innovation Organization (BIO) and the US National Institutes of Health (NIH). Since its founding in 2007, Scientist.com has raised $32 million from 5AM Ventures, Leerink Transformation Partners and Heritage Provider Network among others. Visit scientist.com to learn more.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191205005318/en/
Contact
Daniel Shaffer, dshaffer@kyriba.com, +1 858 263-2218
Sean Preci, sean@scientist.com, +1 858 455-1300
Source : Kyriba
“Scientist.com is improving the medical research process with SciPay, an innovative application of working capital technology that enables faster access to capital,” said Jean-Luc Robert, Chairman and CEO, Kyriba. “This is an excellent use case of how organizations can leverage Kyriba’s SaaS technology to deliver transformative results with minimal startup costs.”
Scientist.com was Highly Commended at the Supply Chain Finance (SCF) Awards held on November 28, 2019 in Amsterdam in the category of Best SCF Programme in Technology & Telecoms.
About Kyriba Corp.
Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.
For more information about Kyriba Supply Chain Finance, visit www.kyriba.com/solutions.
About Scientist.com
Scientist.com is the world's leading marketplace for outsourced R&D. The marketplace simplifies R&D sourcing, saving time and money, reducing risk and providing access to the latest innovative tools and technologies. Scientist.com operates private enterprise marketplaces for most of the world’s major pharmaceutical companies, the Biotechnology Innovation Organization (BIO) and the US National Institutes of Health (NIH). Since its founding in 2007, Scientist.com has raised $32 million from 5AM Ventures, Leerink Transformation Partners and Heritage Provider Network among others. Visit scientist.com to learn more.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191205005318/en/
Contact
Daniel Shaffer, dshaffer@kyriba.com, +1 858 263-2218
Sean Preci, sean@scientist.com, +1 858 455-1300
Source : Kyriba
JAPAN'S FRIENDSHIP TIES PROGRAMS JENESYS 2019 ASEAN INBOUND PROGRAM 15TH BATCH
Theme; Science and Technology Exchange
Country: Singapore
TOKYO, Dec 6 (Bernama-BUSINESS WIRE) -- Twenty university/college students from Singapore are scheduled to visit Japan from December 9th to December 17th as part of the Japan’s Friendship Ties Programs, “JENESYS 2019” promoted by Ministry of Foreign Affairs of Japan (MOFA).
They will visit Tokyo and Miyagi to experience international program under the theme of “Science and Technology Exchange”. In Tokyo, They will visit Japan Science and Technology Agency, Olympas OLYMPUS museum, and Tokyo University, Kashiwa Campus, to learn sustainable initiatives of Japan in the field of Science and Technology. Furthermore, they will visit Japan Aerospace Exploration Agency (JAXA), Kakuta Space Center which leads research and development of rocket engines which are the hearts of the vehicles, to observe the site of advanced technology.
Through this program, we hope the friendly relationship between Japan and Singapore will be strengthened, and the participants proactively share the appeals and science technology of Japan which they experienced in Japan after returning to home country.
[For reference] : Japan Exchange Program JENESYS 2019
People with the ability and future mission to deliver messages between Japan and the countries and regions of Asia and Oceania are invited and dispatched in order to promote an understanding of Japan with regard to politics, economics, society, culture, history, foreign policy, and the like, and pro-Japanese people and experts on Japan are discovered in order to strengthen Japan’s message to other countries and expand Japan’s diplomatic foundation by having the guests and dispatches take the initiative to spread information about the diplomatic stance, appeals, and other facets of Japan.
(Itinerary)
Monday, December 9th
[Arrival]
[Orientation]
[Lecture] The Japan-Singapore relations and The Foreign Policy of Japan
Tuesday, December 10th
[Observation/Lecture] Japan Science and Technology Agency (JST)
[Observation] OLYMPUS Museum
Wednesday, December 11th
[Observation] METAWATER Co., Ltd.
[School Exchange] Tokyo University, Kashiwa Campus, The Institute for Solid State Physics
Thursday, December 12th
[Move] Tokyo to Miyagi
[Courtesy Call/ Lecture] Miyagi Prefecture Government Office
[Exchange/Observation] Tohoku University, Aobayama Campus
Friday, December 13th
[Visit] Sendai Castle, Zuiho-den
[Observation] Japan Aerospace Exploration Agency (JAXA) Space Center
Saturday, December 14th
[Observation/Lecture]
Minami Sanriku Learning Program by storytelling (Disaster Prevention)
[Activity] Leather Craft workshop
[Homestay] Minami Sanriku-cho Tourism Association
Sunday, December 15th
[Homestay] Minami Sanriku-cho Tourism Association
[Move] Move to Tokyo
[Visit] Imperial Palace, Double-Bridge
Monday, December 16th
[Courtesy Call] Embassy of Singapore in Japan
[Workshop]
[Reporting Session]
Tuesday, December 17th
[Departure]
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191206005083/en/
Contact
Inquiries about the program
JENESYS 2019 ASEAN + Timor-Leste Project Implementing Agency
JTB Kasumigaseki Operations Department
Contact personnel: Junji Mise, Yutaka Shintani, Emi Sendoda
TEL: +81 3-6737-9447
Weekdays: 9:00-18:00 (Closed on weekends and holidays)
Email: jenesys2019asean@jtb.com
Source : JTB Corp.
Country: Singapore
TOKYO, Dec 6 (Bernama-BUSINESS WIRE) -- Twenty university/college students from Singapore are scheduled to visit Japan from December 9th to December 17th as part of the Japan’s Friendship Ties Programs, “JENESYS 2019” promoted by Ministry of Foreign Affairs of Japan (MOFA).
They will visit Tokyo and Miyagi to experience international program under the theme of “Science and Technology Exchange”. In Tokyo, They will visit Japan Science and Technology Agency, Olympas OLYMPUS museum, and Tokyo University, Kashiwa Campus, to learn sustainable initiatives of Japan in the field of Science and Technology. Furthermore, they will visit Japan Aerospace Exploration Agency (JAXA), Kakuta Space Center which leads research and development of rocket engines which are the hearts of the vehicles, to observe the site of advanced technology.
Through this program, we hope the friendly relationship between Japan and Singapore will be strengthened, and the participants proactively share the appeals and science technology of Japan which they experienced in Japan after returning to home country.
[For reference] : Japan Exchange Program JENESYS 2019
People with the ability and future mission to deliver messages between Japan and the countries and regions of Asia and Oceania are invited and dispatched in order to promote an understanding of Japan with regard to politics, economics, society, culture, history, foreign policy, and the like, and pro-Japanese people and experts on Japan are discovered in order to strengthen Japan’s message to other countries and expand Japan’s diplomatic foundation by having the guests and dispatches take the initiative to spread information about the diplomatic stance, appeals, and other facets of Japan.
(Itinerary)
Monday, December 9th
[Arrival]
[Orientation]
[Lecture] The Japan-Singapore relations and The Foreign Policy of Japan
Tuesday, December 10th
[Observation/Lecture] Japan Science and Technology Agency (JST)
[Observation] OLYMPUS Museum
Wednesday, December 11th
[Observation] METAWATER Co., Ltd.
[School Exchange] Tokyo University, Kashiwa Campus, The Institute for Solid State Physics
Thursday, December 12th
[Move] Tokyo to Miyagi
[Courtesy Call/ Lecture] Miyagi Prefecture Government Office
[Exchange/Observation] Tohoku University, Aobayama Campus
Friday, December 13th
[Visit] Sendai Castle, Zuiho-den
[Observation] Japan Aerospace Exploration Agency (JAXA) Space Center
Saturday, December 14th
[Observation/Lecture]
Minami Sanriku Learning Program by storytelling (Disaster Prevention)
[Activity] Leather Craft workshop
[Homestay] Minami Sanriku-cho Tourism Association
Sunday, December 15th
[Homestay] Minami Sanriku-cho Tourism Association
[Move] Move to Tokyo
[Visit] Imperial Palace, Double-Bridge
Monday, December 16th
[Courtesy Call] Embassy of Singapore in Japan
[Workshop]
[Reporting Session]
Tuesday, December 17th
[Departure]
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191206005083/en/
Contact
Inquiries about the program
JENESYS 2019 ASEAN + Timor-Leste Project Implementing Agency
JTB Kasumigaseki Operations Department
Contact personnel: Junji Mise, Yutaka Shintani, Emi Sendoda
TEL: +81 3-6737-9447
Weekdays: 9:00-18:00 (Closed on weekends and holidays)
Email: jenesys2019asean@jtb.com
Source : JTB Corp.
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