30 FINANCIAL MEASURES ENACTED ​TO EXPEDITE SHENZHEN-HONG KONG FINANCIAL CONNECTIVITY

KUALA LUMPUR, Feb 28 (Bernama) -- Qianhai has made another breakthrough in financial innovation and now appears to be the first stop for Hong Kong-invested financial institutions to enter the mainland.

The Opinions on Providing Financial Support for the Comprehensive Deepening of Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the Opinions) was officially released on Feb 23.

According to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in a statement, with the Opinions, Qianhai will play a greater role in helping Hong Kong integrate into the overall national development

The Opinions set out 30 financial measures covering financial services related to people's livelihoods, mutual access between financial markets, the development of the modern financial industry, facilitation of cross-border trade and investment, among others.

The 30 measures have further defined the path to achieving a higher and deeper level of financial opening up and cooperation with Hong Kong.

In a recent interview, Hong Kong and Shanghai Banking Corporation Limited Asia-Pacific co-chief executive, David Liao said the introduction of the 30 measures marked another round of promotion of mutual financial market access between Shenzhen and Hong Kong.

“The measures will lay the foundation for the convergence of financial rules and mechanisms in the Greater Bay Area, and allow the exploration of new paths for the high-level opening up of the mainland's financial industry,” he said.

In recent years, Qianhai's financial industry has constantly aligned with international standards and it has continued to highlight its function as a demonstration window of the opening up of the financial industry in China.

Now, the Opinions have advanced new goals for the opening up of Qianhai's financial industry. The plan is for Qianhai to put together an implementation task list for the Opinions to set up a task plan, roadmap, timeline and accountability system.

Qianhai will strive to hold a Shenzhen-Hong Kong Financial Forum, strengthen the Shenzhen-Hong Kong financial regulatory cooperation system, prevent cross-border financial risks, and promote the further opening up and development of Qianhai.

-- BERNAMA

SYNCHRONOSS TO UNVEIL PERSONAL CLOUD PLATFORM AT MOBILE WORLD CONGRESS IN BARCELONA

KUALA LUMPUR, Feb 23 (Bernama) -- Synchronoss Technologies Inc (Synchronoss), a global leader and innovator in cloud, messaging and digital products and platforms, will showcase the latest version of Synchronoss Personal Cloud at Mobile World Congress in Barcelona, Spain (Feb 27 - March 2).

According to a statement, the new Synchronoss Personal Cloud platform enables telecom operators to offer premium and value-added services to backup and manage files, photos, videos and digital content stored on mobile phones and other devices.

Synchronoss President and Chief Executive Officer, Jeff Miller said the company’s cloud platform provided a carrier-grade solution for service providers to deliver value-added services that also focus heavily on data security and privacy.

“The capabilities of generative AI and machine learning allow us to deliver innovative functionality such as Genius, BackTrack and Advanced Highlights, giving users new ways to engage and share their digital content,” he said.

Leveraging artificial intelligence (AI) the new Genius feature provides tools to optimise photos whereby users can colourise black and white photos, enhance photos and touch up faces, among other effects.

Meanwhile, the addition of BackTrack provides the capability to revert and restore files if they are deleted, corrupted or lost.

Additionally, by integrating machine learning, the platform’s Advanced Highlights feature makes it easy to categorise and tag photos, videos and other digital content so they can be easily highlighted, managed and shared.

Synchronoss Personal Cloud new features are being rolled out to millions of subscribers, including cloud users at AT&T, Verizon and one of the largest global operators that recently signed a multi-year cloud agreement launching later this year.

Synchronoss will also showcase its carrier-grade email platform, Synchronoss Email Suite at the Mobile World Congress.

-- BERNAMA

NEC CORPORATION PROMOTES AALOK KUMAR TO GLOBAL LEADERSHIP ROLE

KUALA LUMPUR, Feb 23 (Bernama) -- NEC Corporation India, a wholly owned subsidiary of NEC Corporation, announced the elevation of Aalok Kumar, Chairman, President and CEO, NEC Corporation India, to Corporate Officer & Senior Vice President - Head of Global Smart City Business.

He continues to lead the India business and further strengthen India’s strategic positioning for NEC Group as a whole, and continue to forge partnerships with the Government and private sector, pursuant to the company’s vision of “In India, for India” and “From India, for Global”.

Kumar will take over a new global role as a Corporate Officer and Senior Vice President and Head of the Global Smart City Business. As part of NEC’s Corporate Management Team, he will be responsible for building a global business, drawing on his unique learnings from his global experience.

In a statement, commenting on the elevation, Takayuki Morita, President and CEO, NEC Corporation, said: Having spearheaded some of our biggest marquee projects for both public and private organisations in his time at NEC Corporation India, Aalok has played a pivotal role in cementing NEC Corporation’s position as a trusted digital transformation partner to the Government and enterprises of India.

“His new position as a Corporate Officer and NEC’s management member leading India shows NEC’s commitment and importance towards India as a market.”

NEC aims to build a robust Global Smart City vertical, represented by talent from worldwide with deep technological know-how and experience. India will play a major role in shaping this, drawing on Kumar’s expertise in driving digital transformation in India and the learnings from smart city projects implemented in the country.

“I am humbled by the opportunity given to me by the global leadership. I have had the privilege of leading an exceptional team in India, and it is with their unmatched talent and support that we have been able to accomplish some crucial milestones for NEC Corporation India, thus far,” said Kumar.

An alumnus of St Stephens College, Delhi and Indian Institute of Management, Ahmedabad, Kumar brings nearly three decades of experience in senior leadership roles in business transformation, performance improvement, and margin expansion.

For more information, visit: https://in.nec.com/

-- BERNAMA

TDCX TO ANNOUNCE FOURTH QUARTER, FULL YEAR 2022 RESULTS

KUALA LUMPUR, Feb 22 (Bernama) -- TDCX Inc (TDCX), an award-winning digital customer experience (CX) solutions provider for innovative technology and other blue-chip companies has set to announce its fourth quarter and full year unaudited financial results on March 7, after the United States market closed.

In a statement, TDCX said its senior management will host a conference call on that day to discuss the unaudited financial results, and a live webcast of the conference call will be available on the company’s website.

A replay of the conference call and an archived webcast will be available at TDCX’s investor relations website.

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

Employing more than 17,400 employees across 27 campuses globally, TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint.

-- BERNAMA

GENESIS REACHES AGREEMENT IN PRINCIPLE WITH DCG AND KEY CREDITORS ON A GLOBAL RESOLUTION THAT OPTIMIZES OUTCOME FOR CLIENTS AND STAKEHOLDERS

NEW YORK, Feb 7 (Bernama-BUSINESS WIRE) -- Genesis Global Holdco, LLC (“Genesis” “GGH” or the “company”) today announced that it has reached an agreement in principle among Digital Currency Group (“DCG”) and the ad hoc groups of creditors of Genesis Global Capital, LLC (the “Ad Hoc Groups”) which, in the aggregate, hold or represent more than $2 billion in asserted claims.

The agreement in principle lays out a framework for a global resolution that will maximize value for all Genesis clients and stakeholders.

Under the terms of the agreement, DCG would exchange its existing $1.1 billion note due in 2032 for convertible preferred stock to be issued by DCG as part of Genesis’s Chapter 11 plan. DCG would also refinance its existing 2023 term loans through a new, junior secured term loan in two tranches made payable to creditors in the aggregate total value of approximately $500 million.

As part of the transactions, DCG will also contribute its equity interest in Genesis Global Trading (“GGT”) to Genesis Global Holdco, bringing all Genesis entities under the same holding company.

In addition, as part of the agreement, Gemini has agreed to contribute up to $100 million in additional funds to Earn users as part of the Plan.

Pending the closing of these transactions, Genesis will launch a sale process for GGT and explore other value-maximizing transactions.

The agreement in principle remains subject to definitive documentation and necessary court approvals.

“Today’s agreement is a positive step forward and provides a clear path to a consensual resolution that maximizes value,” said Paul Aronzon, a member of the Special Committee of Genesis’s board of directors that has been spearheading the company’s restructuring efforts.

“I am grateful to the talented team at Genesis for their ongoing dedication and commitment to client service, and excited about working together to build Genesis for the future,” said Derar Islim, Interim CEO, Genesis. “I also want to express my deep appreciation to all of our clients for their continued patience and loyalty as we work through a resolution for our lending business.”

As previously announced, on January 19, 2023, Genesis Global Holdco, LLC and two of its lending business subsidiaries, Genesis Global Capital, LLC and Genesis Asia Pacific Pte. Ltd. filed voluntary Chapter 11 petitions in the Bankruptcy Court for the Southern District of New York to achieve a global resolution to maximize value for all clients and stakeholders. Genesis’s other subsidiaries involved in the derivatives and spot trading and custody businesses and GGT are not included in the filing and continue client trading operations. Redemptions and new loan originations in the lending business remain suspended, and claims will be addressed through the Chapter 11 process.

All aspects of the Genesis restructuring process are being overseen by an independent special committee of the company’s board of directors.

For more information on the Chapter 11 filing, including access to court documents, please visit https://restructuring.ra.kroll.com/genesis.

Moelis & Company is acting as financial advisor to the company. Cleary Gottlieb Steen & Hamilton LLP is acting as legal counsel. Alvarez & Marsal is serving as restructuring advisor.

About Genesis

Genesis is a full-service digital currency prime brokerage providing a single point of access for select qualified individuals and global institutional investors. Genesis combines unrivaled operational excellence, a seamless user experience, and best-in-class client service to provide the full suite of services global investors require to manage their digital asset portfolios.

The firm offers sophisticated market participants a fully integrated platform to trade, borrow, lend, and custody digital assets, creating new opportunities for yield while increasing capital efficiency for counterparties.

For more information on Genesis, please visit genesistrading.com.

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Source : Genesis Global Holdco, LLC

CODA PAYMENTS NAMES SHANE HAPPACH CEO

KUALA LUMPUR, Feb 2 (Bernama) -- Coda Payments (Coda), the provider of cross-border payments and distribution solutions to publishers of digital content, has appointed Shane Happach as Chief Executive Officer (CEO).

“Taking over from Philippe Limes who has served as CEO since 2019, Happach will relocate to Singapore and take up his new role in May,” said Coda in a statement.

 An industry leader in payments and financial technology, Happach brings over 15 years of payments experience to Coda, and will be responsible for growing Coda’s ecosystem of users, content publishers and channel partners while expanding its consumer and business-to-business (B2B) product offerings.

“Shane is a seasoned payments executive and CEO, relishes delivering impactful solutions to clients, enjoys operating on a cross-border basis, and has a track record of creating value for shareholders both private and public.

“I look forward to working with him in the months and years to come,” said Coda Founder and Executive Chairman, Neil Davidson.

Meanwhile, Happach said Coda unlocked billions of dollars of value for its clients and enriches the lives of tens of millions of users every month with a highly differentiated suite of offerings. 

“I look forward to building on this foundation, leading the Coda team at this exciting moment in the company’s growth,” he said.

Happach spent a decade driving more than 500 per cent growth at Worldpay, one of the world’s largest payment service providers, leading the commercial function of its online payments division from 2011 until 2016 and served as Executive Vice President from 2016 to 2021.

Most recently, he acted as CEO of Mollie, a next-generation payments and financial services player for small and medium-sized enterprises. 

-- BERNAMA

HYCU UNVEILS WORLD'S FIRST DATA PROTECTION DEVELOPMENT PLATFORM FOR SAAS

KUALA LUMPUR, Feb 2 (Bernama) -- HYCU Inc, the fastest-growing multi-cloud data protection as a service company, has unveiled R-Cloud to allow Software as a Service (SaaS) companies and Independent Software Vendors (ISVs) to provide, in days, backup and recovery services for their SaaS offerings.

R-Cloud is the world’s first low-code, purpose-built data protection development platform specifically designed to make it easy for SaaS vendors to deliver a true enterprise class backup and recovery service for their users that is secure and scalable.

HYCU Founder and Chief Executive Officer, Simon Taylor in a statement said the company has found a way to provide ISVs and SaaS vendors the ability to add data protection with ease.

“Granular backup and recovery for SaaS is now available in as little as four days when it would have taken at least four quarters before to develop,” added Taylor.

In an effort to closely engage with existing customers and SaaS solution providers and to ensure there is an easy way to visualise all data across the enterprise, identify what data is protected, ensure that data is not left unprotected, and be able to recover data in the event of human error or malicious attack, R-Cloud is the result of four years of development and a number of patent-pending innovations.

At its foundation, the R-Cloud platform empowers SaaS companies to leverage HYCU’s data protection expertise, orchestration, identity and access management, policy management and analytics to ensure all SaaS data is protected. 

For the first time, SaaS companies using R-Cloud can quickly release secure and verifiable data protection delivered as a service for their customers. 

With the introduction of R-Cloud, users will gain benefits including Low-code, Integrated Development Environment; Rapid Diagnosis via Graphical Visualisation; and Tight Integration with Award-winning Data Protection Technology.

-- BERNAMA

FOURKITES AND CARGONERDS PARTNER TO BRING ENHANCED COST & TIME SAVINGS TO GLOBAL FREIGHT FORWARDERS AND SHIPPERS

CHICAGO, Jan 31 (Bernama-GLOBE NEWSWIRE) -- Leading real-time supply chain visibility company FourKites today announced a partnership with cargonerds to enhance the digital freight platform with its market-leading supply chain visibility data.

Armed with FourKites’ data and machine learning-driven estimated times of arrival, cargonerds can now ensure that its freight forwarders and their customers can track products across the end-to-end supply chain and know exactly when they will arrive at their destination. The integrated solution will track global shipments in real time across road, rail, ocean, air, parcel and last mile across the globe.

“FourKites has the largest global network of supply chain data and powerful machine learning on the planet,” says Conrad Franchi, founder of cargonerds. “Their end-to-end solution enables us to give our customers the most accurate ETAs (estimated time of arrivals) and greater network collaboration. Having the right data at the right time to identify precisely what can be done is the only path to proactively mitigating issues while reducing costs and fees.”

Hamburg, Germany-based cargonerds — a spin-off of Rohlig Logistics — is a software development company that serves small and medium-sized freight forwarders. In 2022, cargonerds moved 250.000 ocean shipments, 250.000 air shipments and 150.000 road shipments. Their mission is to unlock the value of digital supply chains and thus make it accessible for smaller freight forwarders.

“Many times, small and medium sized freight forwarders don’t have access to services like supply chain visibility because they lack software development resources and implementation skills,” Conrad continued.

cargonerd’s freight forwarders can now send data about each shipment in transit directly and securely to their supply chain stakeholders. In doing so, their customers can streamline communication, more easily collaborate with partners and increase on-time deliveries.

“Our technology is perfectly suited for logistics service providers, and we’re thrilled to partner with cargonerds to expand our footprint globally,” says Marc Boileau, FourKites’ Senior Vice President Sales, Network & Operations EMEA. “FourKites’ digitized solution will eliminate manual tracking from cargonerds’ network of freight forwarders and customers, saving significant time and resources and enabling them to shift focus to higher-value tasks.”

cargonerds will be showcasing its solution with FourKites and the value it brings to both carriers and shippers in a live webinar taking place on Wednesday, February 15, 2023. Register here. 

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