AM BEST AFFIRMS CREDIT RATINGS OF LONPAC INSURANCE BHD

SINGAPORE, Nov 30 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Lonpac Insurance Bhd (Lonpac) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

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

Lonpac’s risk-adjusted capitalisation is at the strongest level at year-end 2022, as measured by Best’s Capital Adequacy Ratio (BCAR), and is expected to remain at this level over the near to medium term. Despite a high dividend payout ratio over the past five years (2018-2022), the company has demonstrated strong capital growth from retained earnings over this period. In addition, the company has a generally conservative investment portfolio comprising cash, bonds and debt-focused unit trust funds. However, Lonpac is viewed to have a moderate dependence on third-party reinsurance to enable the underwriting of large limit risks and to manage catastrophe exposure accumulation.

AM Best views the company’s operating performance as strong, as evidenced by its five-year average return-on-equity ratio of 28.3% and combined ratio of 67.5% (2018-2022). The company observed an uptick in claims activity in 2022 and the first 10 months of 2023 mainly due to easing of COVID-19-related movement restrictions in Malaysia. Underwriting margins for property and bond classes of business have benefited from low net loss experience and favourable reinsurance commission income over a number of years, which remain the key drivers of technical profitability. Investment returns continue to be a stable contributor to overall earnings. As of 31 October 2023, Lonpac’s operating performance remains favourable, driven by stable underwriting profit and investment performance. Whilst AM Best expects Lonpac to maintain its strong operating performance over the medium term, claims normalisation and reinsurance market hardening, as well as the ongoing phased liberalisation of motor and fire insurance pricing in Malaysia may constrain underwriting margins over the near to medium term.

AM Best views Lonpac’s business profile as neutral. The company is a mid-sized non-life insurer in Malaysia, with a market share of approximately 8%, based on 2022 gross direct premium. The company’s underwriting portfolio is diversified moderately by line of business, albeit with majority of business originating from Malaysia. Lonpac benefits from a long-standing relationship with Public Bank Berhad, which provides the company with preferential access to profitable property business through the banking channel.

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

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

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

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Contact

Susan Tan
Financial Analyst
+65 6303 5023
susan.tan@ambest.com

Michael Dunckley, CFA
Associate Director
+44 20 7397 0312
michael.dunckley@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

VENTI TECHNOLOGIES FOUNDER & CEO BAGS 2023 WOMEN IN TECH GLOBAL START-UP AWARD

KUALA LUMPUR, Nov 28 (Bernama) -- Venti Technologies, a leader in autonomous vehicle logistics for the global supply chain and industrial and logistics yards announced its Founder & Chief Executive Officer (CEO), Dr Heidi Wyle has won the 2023 Women in Tech Global Start-Up Award.

“I am honoured to receive the Women in Tech Global Start-Up Award on behalf of Venti Technologies. This year has been significant for Venti as we have grown our company with new funding and progressed into operational deployments.

“This recognition is a testament to our amazing team at Venti. As we look to the new year, I am excited about Venti’s continued journey of growth, collaboration, and innovation,” said Dr Wyle in a statement.

She added that all the women nominated for this award have made extraordinary strides, and she is thrilled to be among such incredible and inspiring leaders.

Dr Wyle has served on the Boards of MIT, the Harvard Business School Alumni Association of Boston, and the Massachusetts Women’s Forum where she served as president.

Since Venti’s founding, she has successfully led the company through two funding rounds totalling US$37 million, and in the past year, has grown Venti from 18 employees to 103 as of June this year. (US$1=RM4.67)

The Women in Tech is a global non-profit organisation on a mission to empower five million women and girls in tech by 2030.

The Women in Tech Global Start-Up Award recognises a female-founded startup that has demonstrated exceptional innovation, growth potential and a positive impact on the tech industry, and awards were announced recently in a gala at the United Arab Emirates.

-- BERNAMA

APR ACHIEVES CONSOLIDATED SALES OF KRW 122 BILLION AND CONSOLIDATED OPERATING PROFIT OF KRW 21.7 BILLION IN Q3 2023

· Sales increased by 28.0% and operating profit surged by 72.7% year-over-year (YoY)


SEOUL, South Korea, Nov 27 (Bernama-BUSINESS WIRE) -- APR Corp. (APR, CEO: Byunghoon Kim), a global beauty tech company, broke its record-high performance in Q3 2023.

APR disclosed on November 14 that it had consolidated sales of KRW 122 bn (approx. USD 94.8 mn) and an operating profit of KRW 21.7 bn (approx. USD 16.87 mn) in Q3 2023. APR’s revenue climbed by 28.0% year on year, while its operating profit increased by 72.7%.

On a cumulative basis, Q3 achieved record-breaking sales of KRW 371.9 bn and an operating profit of KRW 69.7 bn. Year-on-year, cumulative sales soared by 37.9%, while operating profit surged by an impressive 277%. Remarkably, Q3’s cumulative sales reached 94% of last year’s total sales (KRW 397.7 bn), and operating profit surpassed the total amount for the entire 2022 (KRW 39.2 bn).

APR’s beauty business, which grew by an impressive 37.4% year-on-year, played a pivotal role in driving its outstanding results. The combined growth of medicube cosmetics and medicube AGE-R beauty device has been particularly impactful. AGE-R, which sold around 600,000 units in total in 2022, witnessed a remarkable surge in demand, reaching 750,000 units in Q3 2023, marking a 46.8% year-on-year expansion. This success can be partly attributed to Booster Healer, an entry-level beautification device that has enjoyed consistent sales both domestically and internationally.

medicube cosmetics also achieved outstanding performance thanks to its products, including the best-selling Zero Pore Pad as well as the deep line and collagen line that create synergy effects with beauty gadgets. Other established beauty brands such as APRILSKIN, FORMENT, and GLAM.D Bio also showed solid performance, with an overall growth rate of 28.0% YoY in the cosmetics sector.

Overseas achievements are also noteworthy. Beauty gadgets drove the overall growth in international sales, which totaled KRW 56.1 bn in Q3, a 52.5% increase year on year. APR, which recorded overseas sales of KRW 82.6 bn in H1 2023, achieved a figure equivalent to 96.5% of the total overseas sales of KRW 143.7 bn in 2022 in just three quarters.

Byunghoon Kim, CEO of APR, said, “Starting in the third quarter of this year, our records are expecting to go through an upheaval in the beauty industry. We will focus ahead of time on strengthening corporate competitiveness through bold measures based on diversification of the global market.”

Meanwhile, APR aims to be listed on the stock market in H1 2024.

The CEO added, “As the listing schedule has materialized after submitting the preliminary review request last September, APR will make its utmost efforts to operate the company stably and systematically while preparing for the listing schedule.”

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20231126297312/en/

Contact

APR Corp.
Joon Hur
communications@apr-in.com

Source : APR Corp.

TELEDYNE E2V ANNOUNCES NEXT GENERATION OF HIGH-PERFORMANCE GLOBAL SHUTTER CMOS IMAGE SENSORS

GRENOBLE, France, Nov 21 (Bernama-GLOBE NEWSWIRE) -- Teledyne e2v, a Teledyne Technologies [NYSE: TDY] company and global innovator of imaging solutions, announces Emerald™ Gen2, its new state-of-the-art CMOS image sensor family. Built on Teledyne e2v’s advanced imaging technologies, this new family delivers enhanced performance, making the new sensors ideal for a wide range of machine vision uses, outdoor surveillance, and traffic detection and monitoring cameras.

Emerald Gen2 is available in 8.9-Megapixels (4,096 x 2,160) or 12-Megapixels (4,096 x 3,072), in monochrome or color, and in two-speed grades, standard and high. The high-speed models provide superior performance for demanding applications that require sharp images at very high speeds, such as food sorting, inspection, and Intelligent Traffic Systems.

The sensor has a small 2.8 µm global shutter pixel, designed with Teledyne e2v’s latest generation light pipe technology, which provides up to 67 dB dynamic range in 10-bit and 12-bit ADC mode. This allows cameras to work in high-contrast scenes without any exposure issues in the images.

This new generation has several improved features compared to the original Emerald family. Its matrix is centered in a compact 21 x 20 mm² Ceramic Land Grid Array (CLGA) package, which fits 1-inch optical formats for easier and more cost-effective integration. It has two types of output, LVDS and MIPI CSI 2, providing camera manufacturers with the option to use either interface, depending on their customer's requirements. It also offers excellent low-noise performance with < 3e- readout noise and increased sensitivity and angular response with dual-light pipe technology. 

http://mrem.bernama.com/viewsm.php?idm=47580

Steeped In Culture: Liubao Tea Tasting Competition Drew 541 Samples

 

Caption: Global Liubao Tea Tasting Competition was held in Wuzhou.

KUALA LUMPUR, Nov 22 (Bernama) -- The Global Liubao Tea Tasting Competition held in Wuzhou, South China's Guangxi Zhuang Autonomous Region, attracted a total of 541 samples participating in the contest.

A large number of tea companies and enthusiasts from China competed, while international participants from countries like Malaysia, Vietnam and Singapore also fielded their precious Liubao tea.

The samples were divided into 14 groups, and after judging and rating by a team of domestic and international tea experts and Liubao tea collectors, a corps of 55 seven-star "kings of tea" were chosen.

Liubao Tea Association of Malaysia President, Guo Junbang, one of the judges on the Modern Processing Technique Panel of the final of this year's tea competition said: “This tea competition plays a huge role conducive to the advancement of the Liubao tea industry, and I hope that the competition will continue to be hosted.

“Liubao tea culture has integrated into the daily life of Malaysians, and Liubao tea is often our drink of choice when we eat or enjoy afternoon tea”.

According to Wuzhou Tea Industry Development Service Center in a statement, Liubao tea originates from Liubao Town in Wuzhou of Guangxi Zhuang Autonomous Region.

During the reign of the Jiaqing Emperor of the Qing Dynasty, Liubao tea was acclaimed for its "areca nut scent" characterised by "redness, richness, purity and aged aroma", it emerged as one of China's top teas and its consumption swept across the land.

The thirst-quenching, stomach-nourishing and other healthy properties of Liubao tea, as well as its long shelf life, made it a favourite among overseas Chinese, hence its eventual rise in popularity among tea-drinkers in countries such as Malaysia and Singapore.

Research results from a health and nutritional study conducted by a team led by the Academician of Chinese Academy of Engineering and Professor at Hunan Agricultural University Liu Zhonghua explain the functionality and scientific mechanisms behind numerous benefits associated with Liubao tea.

The benefits include fat and weight reduction, blood sugar reduction, uric acid suppression, liver health, intestines and stomach coordination, anti-aging and anti-inflammatory functions, protection against radiation, as well as immunity improvement, among others.

-- BERNAMA

IFAST CORP UNVEILS IFAST GLOBAL HUB.AI IN MALAYSIA - STRATEGIC MILESTONE TOWARDS PROGRESSING A TRULY GLOBAL BUSINESS MODEL

^{Mr Raymond Siva, Senior Vice President and Head of Digital Investment of MDEC and Mr Ma Qian Cheng, Managing Director of iFAST Global Hub.ai}

 
KUALA LUMPUR, Nov 22 (Bernama) -- iFAST Service Centre Sdn. Bhd., a wholly-owned Malaysian subsidiary of iFAST Corporation Ltd, proudly announces the rebranding of iFAST Service Centre to iFAST Global Hub.ai, marking a significant milestone in its journey towards a truly global business model. With its transformation into a global digital hub, iFAST Global Hub.ai will now assume a central role in multiple aspects of the business, significantly enhancing operational efficiency and scalability.
 
This transformation emphasizes the integration of advanced technologies, particularly Artificial Intelligence (AI), to enhance operational efficiency, optimise workflows, and promote scalability. This digital hub is primed to play a central role in the Group's 3-Year Growth Plan, aiming to become a prominent global player in digital banking, wealth management, and pension administration solutions.
 
Mr Lim Chung Chun, Chairman and CEO of iFAST Corp, stated, "The establishment of iFAST Global Hub.ai signifies a strategic milestone in our pursuit of a truly global business model. This enables us to effectively navigate the evolving business landscape, thereby ensuring sustained growth and the creation of value for all our stakeholders. With the integration of cutting-edge technologies, including AI, iFAST Global Hub.ai is set to revolutionise the way iFAST operate and serve our clients."
 
"We recognise the potential of generative AI as we strive towards its integration into our products, and services, as well as our core operations. We believe this will not only elevate our service standards but also strengthen our position as a global fintech leader. We will harness the power of AI to reimagine what we do, how we do and why we do it. We will not merely be AI users, but aspire to be AI value creators who ultimately bring benefits to our clients and business partners,” said Mr Ma Qian Cheng, Managing Director of iFAST Global Hub.ai.
 
iFAST Corp has also announced its AI initiatives during a launch event held on 21 November 2023 in Malaysia, including plans to automate its customer service with in-house AI solutions by end 2025, enabling the company to provide customer service support in over 50 languages, catering to clients worldwide around the clock.
 
"Such initiatives are testaments to our commitment in delivering innovative, efficient, and globally accessible customer service solutions. Alongside automated customer service, the Group will also deploy AI in other key areas, including fraud detection, verification of identity documents, and search engine capabilities optimisation. These initiatives reflect our dedication in integrating AI across various operational aspects to elevate customer experience and operational efficiency," continued Qian Cheng.
 
Furthermore, iFAST Global Hub.ai will support the Group's ePension businesses, offering a comprehensive range of pension administration services and digital solutions, to its business partners. Recently, iFAST Service Centre was awarded Malaysia Digital (MD) Status for its Digital Pension Solutions Services by the Malaysian Digital Economy Corporation (MDEC).
 
“We would like to express our gratitude to MDEC for awarding us the MD status. Malaysia was chosen as a digital support hub for its ePension businesses due to its strategic geographical location, which offers a conducive environment for the expansion of our operations and aligns harmoniously with our organizational growth objectives. Furthermore, the country boasts a reservoir of high-quality talent, making it an ideal destination for recruiting digital talents,” added Chung Chun.
 
"We welcome iFAST’s expansion in Malaysia for its digital pension businesses. As a company that holds MD status, we believe iFAST will make exceptional contribution and impact to Malaysia's digital future. Through the MD national strategic initiative, MDEC will continue to support the growth of the digital economy by implementing various PEMANGKIN (MD Catalytic Programmes) aimed at promoting innovation and digital inclusion,” said Ts. Mahadhir Aziz, CEO of MDEC.
 
iFAST Global Hub.ai recognises the importance of strategic partnerships with numerous academic institutions, including Multimedia University (MMU). Dr. Junaidi, Dean of Faculty of Computing and Informatics (FCI) at MMU, said, "Partnering with iFAST to enhance our workforce's preparedness has been instrumental in our pursuit of academic excellence. This collaboration allows MMU to remain at the forefront of industry developments, ensuring our students receive guidance on the latest market trends upon graduation."
 
In line with iFAST Group's 3-Year Growth Plan, iFAST Global Hub.ai plans to onboard at least 400 digital talents over the next five years. This strategic investment in human capital will further enhance the Group's fintech ecosystem, bringing valuable expertise and opportunities to IT talents across the region. Furthermore, iFAST Global Hub.ai is also set to invest over RM 150 million and will occupy more than 63,000 sq. ft. of office space in the next five years as part of its strategic expansion, reaffirming its commitment in becoming a global fintech powerhouse that delivers innovative solutions that cater to a diverse and dynamic clientele.

 
About Us
iFAST Global Hub.ai (formerly known as iFAST Service Centre) was incorporated in the year 2006 and is a wholly-owned regional service centre which provides call services, IT applications development, operations and settlements support to the group's businesses.
 
About iFAST Corp
iFAST Corp (stock code: AIY) is a digital banking and wealth management platform, with assets under administration (AUA) of S$19.12 billion as at 30 September 2023.
 
Incorporated in the year 2000 in Singapore and listed on the SGX-Mainboard in December 2014, the Group is also present in Hong Kong, Malaysia, China, and UK. Through the years, the Group has built a well-established Fintech ecosystem connecting its product providers and clients.
 
iFAST Corp holds the requisite licences in the various jurisdictions it operates in to provide a wide range of products and services. As at end September 2023, the Group offers access to over 20,500 investment products including over 13,000 funds from over 320 fund houses, over 2,400 bonds, stocks and ETFs listed on the Singapore, Hong Kong, US, Malaysia, China A and UK stock exchanges, as well as services including online discretionary portfolio management services, research and investment seminars, Fintech solutions, and investment administration and transaction services.
 
The main business divisions of the Group include the Business-to-Consumer (“B2C”) division, the Business-to-Business (“B2B”) division, and the Fintech Solutions/Business-to-Business-to-Consumer (“B2B2C”) model. The B2C platform, FSMOne.com (formerly known as Fundsupermart.com), is a multi-products transactional platform that caters to investors who prefer to do their own investments online. The B2B platforms cater to the specialised needs of more than 640 financial advisory companies, financial institutions, banks and internet companies with over 12,500 wealth advisers. iFAST Fintech Solutions, the Fintech Solutions/B2B2C model, was launched in recent years to provide innovative and customisable Fintech solutions for the B2B clients and business partners to empower them with their own B2C Fintech capabilities. The iFAST Global Bank is a licenced UK bank that aspires to provide global banking connectivity to customers, corporates and financial institutions.
 
The Group’s mission statement is, “To help investors around the world invest globally and profitably”. In the Investors’ Choice Awards 2022 organised by the Securities Investors Association Singapore (SIAS), iFAST Corp was awarded Runner-Up in the “Shareholder Communication Excellence Award 2022 – Big Cap” category. 

SOURCE : iFAST Corporation Limited

IASO BIO ESTABLISHES INTERNATIONAL CAR-T DIAGNOSTIC AND TREATMENT CENTER IN CHINA TO SERVE MM PATIENTS WORLDWIDE

NANJING, China, Nov 21 (Bernama-BUSINESS WIRE) -- Nanjing IASO Biotechnology Co., Ltd. (IASO Bio) made its debut at the 6^th China International Import Expo (CIIE) with FUCASO, the world's first fully-human CAR-T, and entered into a strategic partnership with several international medical institutions, bringing hope for cure to multiple myeloma (MM) patients worldwide.

On June 30, 2023, the China National Medical Products Administration (NMPA) approved the marketing of Equecabtagene Autoleucel Injection (brand name: FUCASO) for the treatment of adult patients with relapsed or refractory multiple myeloma (r/rMM). Meanwhile, the Equecabtagene Autoleucel Injection has received the Orphan Drug Designation, as well as the Regenerative Medicine Advanced Therapy and Fast Track Designations from the U.S. Food and Drug Administration, and has been approved for clinical trials in the U.S.

A single infusion of FUCASO can lead to lasting and deep remission with a favorable safety profile in patients with r/rMM who have failed multiple lines of therapy. Due to its unique design, FUCASO, as a fully-human CAR-T therapy, is able to persist in patients for a longer period of time, offering hope for overcoming the challenging problem of relapsed MM.

FUCASO has attracted patients from numerous countries around the world to seek treatment in Chinese hospitals in just 4 months since its approval for marketing in China. These hospitals have a world-leading level of full-process management in CAR-T therapy. In addition, the cost of treatment with FUCASO in China is significantly lower than that of similar products in Europe and America, which has benefited more patients worldwide.

View source version on businesswire.com: 
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Contact

Company: Nanjing IASO Biotechnology Co., Ltd
Contact Person: Zhang Yuanyuan
Email: Med-service@iasobio.com
Website: https://i-connection.iasobio.com/en
Telephone: 400 966 5315

Source : Nanjing IASO Biotechnology Co., Ltd

PAYNET AND MESINKIRA LAUNCH "SINI CASHLESS" CAMPAIGN: EMPOWERING MSMES IN RURAL COMMUNITIES

KUALA LUMPUR, Nov 21 (Bernama) -- In an exciting collaboration between PayNet (Payments Network Malaysia) and Mesinkira, we proudly present the "Sini Cashless" campaign, a groundbreaking initiative poised to transform Micro, Small and Medium Enterprises (MSMEs) in rural communities into adoption of cashless payments via DuitNow and MyDebit.
 
Leveraging the robust capabilities of Mesinkira's Business Operations Support Systems (BOSS), businesses will thrive and embrace the future of commerce. Participating MSMEs will be introduced to a comprehensive suite of capabilities within a single app, revolutionising their operations:
 
1. Mobile Point of Sale (POS): Business can now make transactions seamlessly on the go, providing convenience to customers and increasing sales
 
2. Inventory Management: Ensure precise tracking and inventory management to prevent stockouts and missed sales
 
3. Bookkeeping: Streamlining financial record-keeping for easier tax compliance and financial planning
 
4. Business Analytics: Granting access to data-driven insights, enables MSMEs to make informed decisions and enhance their business strategies
 
5. Integrated Cashless Payments: Seamlessly accept payments through DuitNow and MyDebit, broadening customer payment options
 
6. Digital Invoicing: Simplifying invoicing and payment tracking for quicker settlements
 
7. Add-On E-Store: Transform your offline shop into a thriving online business within a single app, unlocking new revenue streams and expanding their reach to a broader audience
 
The 4-month "Sini Cashless" campaign (from 1 November 2023 to 29 February 2024) offers substantial rewards to participating MSMEs,

1. Monthly reward to incentivise MSME in adopting and promoting e-payment acceptance:

a. RM 20 when e-payment vs cash acceptance is above 20%
b. RM 30 when e-payment vs cash acceptance is above 30%
c. RM 50 when e-payment vs cash acceptance is above 50%
 
2. Grand prize of RM 10,000 to incentivise and reward top-3 MSMEs based on their performance (e-payment vs cash acceptance)
 
PayNet and Mesinkira are committed to the growth and success of rural MSMEs. We firmly believe that this campaign will be a catalyst for change, promoting financial inclusion and enhancing the digital ecosystem for businesses in Malaysia.
 
Chief Commercial Officer of PayNet, Gary Yeoh said: “To keep abreast with the rapid growth of digital economy, we support and empower MSMEs in rural, unserved and underserved communities to thrive and expand their businesses through payment digitalisation. Aligned with Bank Negara’s Financial Inclusion Framework 2023 – 2026 Strategy Paper, our collaboration with Mesinkira enables new business models and innovations to develop well-targeted, needs-based financial products and services, resulting in more diverse financial choices for businesses and consumers. PayNet is committed in uplifting MSMEs to ensure the businesses to stay competitive in this digital age, and hence we hope this incentive program accelerates cashless adoption among MSMEs.”
 
Chief Executive Officer of Mesinkira, Syed Omar said: “Mesinkira is proud to collaborate with PayNet for the rural cashless payments initiative. Through Mesinkira's innovative platform, PayNet will be able to empower micro & small SME's towards financial literacy and credit worthiness, which is leaps and bounds towards uplifting the underserved and aligning with ESG & SDG goals of financial inclusion and better social and income upwards mobility.”
 
For campaign details, please contact:
Syikin Ahmad, Chief Experience Officer
+60126362419, sales@mesinkira.io
 
About PayNet
Payments Network Malaysia (PayNet) is the national payments network and central financial infrastructure for Malaysia with the vision to empower Malaysia's digital economy. Our extensive retail payments suite, DuitNow (QR and P2P), JomPAY (Bill Payments), FPX (Online), MyDebit (Domestic Debit), MEPS (ATM), and IBG (Interbank GIRO) has near ubiquitous coverage across the nation and is part of the daily fabric of life in Malaysia. In addition, PayNet’s real time retail QR payments network, DuitNow, is also interoperable with domestic schemes in Singapore, Thailand, Indonesia and China to enable seamless cross-border transactions with those countries.
 
PayNet is committed in promoting a secure, efficient, and innovative payments ecosystem in Malaysia, and works closely with its stakeholders to develop new products and services that meet the evolving needs of consumers and businesses.
 
For more information, please visit www.paynet.my.
 
About Mesinkira
Mesinkira offers cutting-edge Business Operations Support Systems (BOSS) designed to streamline and enhance business operations for MSMEs. With a range of tools and solutions, Mesinkira empowers businesses to thrive in a fast-paced digital world. www.mesinkira.io
 

SOURCE : Payments Network Malaysia (PayNet)

SFF 2023: PINGPONG SHARES TACTICS FOR NAVIGATING GLOBAL COMPLEXITY

KUALA LUMPUR, Nov 20 (Bernama) -- PingPong, a global payment platform, announced several significant milestones and achievements in advancing the cross-border payments industry during the Singapore Fintech Festival (SFF) 2023, from Nov 6 to 8.

The event featured an insightful keynote address by the company’s Chief Executive Officer of Global Businesses, David Messenger, sharing strategies for enterprises navigating the dynamic global macroeconomic and business landscapes as well as a strategic partnership announcement with MODIFI, a fintech leader in digital trade finance.

In a statement, PingPong said Messenger shared strategies to protect, manage, and grow cross-border enterprises amid uncertainties.

Addressing volatility, regulatory changes, and evolving supply chains, he stressed the importance of technology combined with local teams, and strong local connections with valued partners.

Messenger also emphasised the need for quick adaptation to changing foreign exchange market (FX) and legal landscapes.

Concurrently, PingPong highlighted its capability to partner with enterprises worldwide, seeking world-class partners in Singapore and Southeast Asia for mutual growth.

PingPong recently secured approval as a Major Payment Institution in Singapore by the Monetary Authority of Singapore, allowing the company to offer a comprehensive range of payment services, facilitating faster global expansion for local businesses.

Messenger added: “These announcements underscore our commitment to empowering businesses globally. From protecting against uncertainties to driving digital trade, PingPong is at the forefront of reshaping cross-border transactions and financing.”

He also highlighted the human and people aspects, emphasising the need for fintechs to marry the power of technology with being local, people-driven companies.

The company supports customers in adapting to the new geopolitical and economic conditions, demonstrating the ability to adapt and change to take advantage of market opportunities.

-- BERNAMA

DUCK CREEK PIONEERS THE NEXT ERA OF CLOUD-BASED TECHNOLOGY FOR P&C INSURERS THROUGH MICROSOFT AZURE OPENAI SERVICE

Incorporating Azure OpenAI Service and using Duck Creek’s low-code platform empowers insurers to modernize responsibly

BOSTON, Nov 17 (Bernama-GLOBE NEWSWIRE) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces a breakthrough initiative in collaboration with Microsoft. This collaboration is poised to empower insurers to reimagine their businesses by facilitating smoother implementation processes and faster speed to market through the aid of generative artificial intelligence (AI)—a transformative technology that enables the creation of innovative applications and low-code solutions.

Duck Creek's comprehensive platform is built on Microsoft Azure, the preferred technology for harnessing the power of Azure OpenAI Service, as large language models (LLMs) continue to redefine and shape the technology landscape. This represents a significant leap forward in the insurance sector, fostering innovation and efficiency that promises to influence how insurers conduct their business and engage with customers. By merging Duck Creek's expertise in insurance solutions with the cutting-edge capabilities of Microsoft, this collaboration aims to create a brighter and more agile future for the entire insurance industry.

“Generative AI is a truly transformative technology, and our valued customers will benefit immensely from its powerful capabilities as we continue to drive the modernization of the insurance industry. Our objective is to empower insurers to innovate products faster and assist employees with AI tools,” said Mike Jackowski, Chief Executive Officer, Duck Creek Technologies. “This marks the next chapter in the evolution of our longstanding partnership, where we are pioneering in the space by uniting the exceptional talent of Microsoft and Duck Creek to develop cutting-edge technology solutions for the P&C and general insurance industries. In doing so, we are committed to spearheading the insurance industry's embrace of generative AI and solving the innovation challenges insurers face—all while upholding the highest standards of regulatory compliance and ethical responsibility." 

http://mrem.bernama.com/viewsm.php?idm=47549

MARY KAY ASH FOUNDATION℠ CELEBRATES FIVE YEARS SHAPING THE FUTURE OF CANCER RESEARCH IN PARTNERSHIP WITH UT SOUTHWESTERN MEDICAL CENTER

^{International Postdoctoral Scholars in Cancer Research, Class of 2023. Back Row: Dongqi Xie, Ph.D. (left), Principal Investigator Jerry Shay, Ph.D. (middle), Pedro Nogueira, Ph.D. (right); Front Row: Debora Andrade Silva, Ph.D. (left), Hong-Yi Liu, Ph.D. (middle), and Maria Del Chica Parrado, Ph.D. (right). (Photo: Mary Kay Inc.)}



DALLAS, Nov 8 (Bernama-BUSINESS WIRE) -- The Mary Kay Ash Foundation℠, a decades-long leader and advocate for finding cures for cancers affecting women, and UT Southwestern Medical Center, one of the nation’s premier academic medical centers, in Dallas, Texas, are celebrating five years of collaborative success on the International Postdoctoral Scholars in Cancer Research Fellowship program. Hosted at the Harold C. Simmons Comprehensive Cancer Center at UT Southwestern Medical Center, the fellowship is a two-year postdoctoral program sponsored by the Mary Kay Ash Foundation.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231107256704/en/

 

Established in 2019, the program set out to recruit exemplary international researchers in their respective fields, provide them with invaluable experience, mentorship, and a return grant to continue their pursuits in their home country - bringing their knowledge and experience gained with them.

To date, the program has successfully recruited 13 highly accomplished postdoctoral researchers from Brazil, China, Germany, Mexico, Singapore, Spain and Portugal - seven of which have successfully completed the program; six continue to actively pursue their respective research projects in Dallas; and all have made impactful contributions to notable research publications.

“For more than two decades, the Mary Kay Ash Foundation and UT Southwestern Medical Center have partnered in a continued commitment to find cures for cancers affecting women,” said Michael Lunceford, President, Mary Kay Ash Foundation Board of Directors. “Our partnership continues to bring pivotal innovations to the cancer research frontlines by removing barriers and encouraging information sharing across borders and the world. These findings will be shared on a global level and impact women in every corner of the world.”

Under the expert guidance of Dr. Jerry Shay, Professor of Cell Biology and The Southland Financial Corporation Distinguished Chair in Geriatrics at UT Southwestern Medical Center, the program has consistently attracted and recruited exceptional candidates, ensuring the participation of highly qualified individuals from diverse geographic areas. In the most recent recruitment efforts, two outstanding scholars were recruited to the program: Debora Andrade Silva, Ph.D., from the University of Sao Paulo in Brazil, and Quan Wang, Ph.D., from Shanghai Jiao Tong University in China.

“We appreciate Mary Kay Ash Foundation’s continued investment in UT Southwestern Medical Center and the future of cancer research. With the foundation’s support, we can attract top international candidates, bring them to our state-of-the-art facilities to work with accomplished mentors, and make great strides in research advancements,” said Dr. Jerry Shay. “The global postdoctoral grant allows diverse cancer research talent the opportunity to conduct cutting-edge cancer research at both UT Southwestern Simmons Cancer Center and back in their home country.”

The Mary Kay Ash Foundation is proud to continue its long legacy of making the world a safer, healthier place for women and their families.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20231107256704/en/

Contact

The Mary Kay Ash Foundation
marykay.com/newsroom
(+1) 972.687.5332 or media@mkcorp.com

Source : Mary Kay Ash Foundation

MARINUS PHARMACEUTICALS LAUNCHES GLOBAL ACCESS PROGRAMME TO EXPAND ZTALMY AVAILABILITY

KUALA LUMPUR, Nov 8 (Bernama) -- Marinus Pharmaceuticals Inc, a pharmaceutical company dedicated to the development of innovative therapeutics to treat seizure disorders, has initiated the Marinus Access Program, a global managed access programme for ZTALMY (ganaxolone) oral suspension CV.

The new programme enables physicians to request ZTALMY for eligible patients with seizures associated with CDKL5 deficiency disorder (CDD) in geographies where the product is not commercially available and as supported by local regulatory requirements.

According to a statement, the Marinus Access Program will be managed by Durbin, a leader in the international distribution of specialised pharmaceuticals.

Marinus Chairman and Chief Executive Officer, Scott Braunstein said consistent with the company mission, it is committing appropriate resources to help facilitate broader access to ZTALMY for patients with critical unmet medical needs.

“With the launch of the Marinus Access Program and commercial collaboration agreements in place in MENA region, we are proud to advance our global access strategy and provide pathways to make ZTALMY available for appropriate CDD patients in geographies where there are no approved treatment options and local regulations allow,” he said.

The United States Food and Drug Administration and European Commission approvals of ZTALMY in CDD are supported by data from the Phase Three Marigold double-blind placebo-controlled trial.

In the Marigold open label extension study, patients treated with ZTALMY for at least 12 months experienced a median 49.6 per cent reduction in major motor seizure frequency.

In the clinical development programme, ZTALMY demonstrated efficacy, safety and tolerability with the most common adverse reactions in the ZTALMY group being somnolence, pyrexia, salivary hypersecretion and seasonal allergy.

-- BERNAMA

PM HASINA AND GCA CEO MEET AHEAD OF COP28; COMMIT TO DRIVE $1BN IN CLIMATE FINANCE IN SUPPORT OF MUJIB CLIMATE PROSPERITY PLAN

Dhaka, Bangladesh, Nov 1 (Bernama-GLOBE NEWSWIRE) -- The Global Center on Adaptation CEO, Professor Patrick Verkooijen, concluded a high-level mission to Bangladesh with the following statement:

“I wish to thank Her Excellency Prime Minister Sheikh Hasina for her gracious hospitality and constructive discussions on the deep and longstanding partnership between GCA and the Government of Bangladesh to drive adaptation action. I come out of these discussions hugely impressed and inspired by the continued bold leadership of Bangladesh in reducing the threat of climate change for people in the most vulnerable communities.” 

“With accelerating climate impacts, more investment for adaptation is vital. GCA is committed to leveraging its resources to work with the Government and its partners to design, finance, and implement adaptation solutions to sustain this path to prosperity. I want to especially highlight the strong commitment of the UK and Canada in making the upstream investments that enable GCA to drive forward the adaptation agenda rapidly and at scale.”

Bangladesh is on the frontline of a climate emergency that risks costing the country 7% of its GDP by 2030. The Government of Bangladesh spends an estimated US$1.2bn each year to finance adaptation needs. However, the financing needs identified in the government’s Mujib Climate Prosperity Plan (MCPP)  to address the threat of climate change exceed US$8.5bn each year.

In a meeting with Dr. AK Abdul Momen, Hon’ble Minister of Foreign Affairs, and member of the GCA Board, Professor Verkooijen outlined how GCA is supporting the government in unlocking adaptation finance by mainstreaming adaptation solutions into large scale investments to deliver a step-change in adaptation action. With support from the UK and Canada, GCA is working with partners including the Asian Development Bank, World Bank, IMF, and other International Financial Institutions (IFI) to design adaptation solutions, including nature-based solutions, into $1 billion of investments for coastal and urban communities in the most climate vulnerable regions with the goal of rapidly scaling this up further.  

http://mrem.bernama.com/viewsm.php?idm=47395

YILI REPORTS RECORD HIGH REVENUE APPROACHING 100 BILLION YUAN IN THE FIRST THREE QUARTERS OF FY2023

AsiaNet 100455

^{Yili reports record high revenue approaching 100 billion yuan in the first three quarters of FY2023​}


HOHHOT, China, Nov. 2, 2023 /Xinhua-AsiaNet/--

On October 30, Yili Group released its financial results for the first three quarters of FY2023. During the reporting period, the company's revenue amounted to 97.404 billion yuan (approx. USD 13.32 billion) and net profit rose by 16.36%.
 
These record high figures indicate a continuous improvement in Yili's core business capabilities. The Asian dairy giant continued to step up the application of R&D outcomes, evidenced by the launch of a series of innovative healthy products that have received positive feedback from consumers.
 
In terms of business units, Yili's liquid milk business secured its leading position in the segment with accelerated growth throughout Q1 to Q3. It reported a revenue of 65.432 billion yuan (approx. USD 8.93 billion) from January to September, a year-on-year increase of 2.07%, and the growth rate reached 8.48% in the strong third quarter. Adult milk powder continued its strong growth, leading the segment with its market share rising to 23.9%. The rapidly growing ice cream business also topped the segment in terms of market share and reported a revenue of 10.383 billion yuan (approx. USD 1.42 billion).
 
The achievements are attributable to Yili's strong capabilities in transforming its key innovation outcomes into top-selling new products. Benefiting from its digital-oriented upgrading across the entire value chain, the company has seen significant progress in overall business efficiency which is shaping Yili's new competitive advantages. While driving robust development in business performance, Yili's digitalized operation system is also contributing to a sustainable dairy industry, representing success both commercially and socially.
 
In upstream segments of the industry, Yili has adopted a recycling-oriented sustainability model. It has built a number of ecological smart farms that are equipped with intelligent, low-carbon and eco-friendly facilities. Featuring full-process unmanned operations, the smart farm system pioneers the industry in enhancing efficiency and promoting green and sustainable transformation. The system is also being introduced across China as part of Yili's efforts to reduce the carbon footprint of the entire dairy industry.
 
At midstream level, Yili has built five net-zero carbon factories and had 31 factories certified as state-level "green factories". In addition, all of its factories in China have completed digitalized upgrades. Embracing digital empowerment and recycling technology, Yili manages to multiply production efficiency and propel green manufacturing.
 
Towards the downstream, Yili remains a trendsetter in promoting sustainable consumption by adopting eco-friendly packaging. Its SATINE Environmentally Sustainable Packaging with No Ink or Printing won the IDF Dairy Innovation Award, as a recognition of its innovative solutions for reducing carbon footprint.
 
The company's years of efforts in the ESG field have also earned high recognition from the capital market. In the MSCI ESG Ratings 2023, Yili also received Grade A rating, the highest among all A-share listed dairy producers.
 
Source: Yili Group
 
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   Caption: Yili reports record high revenue approaching 100 billion yuan in the first three quarters of FY2023

KFSH&RC Enhances Operation Efficiency Via Capacity Command Centre

KUALA LUMPUR, Oct 31 (Bernama) -- In response to the rising demand for healthcare services that healthcare providers worldwide face, the Capacity Command Centre in King Faisal Specialist Hospital and Research Centre (KFSH&RC) has emerged as a pioneer in enhancing operational efficiency by implementing globally recognised procedures.

According to the hospital in a statement, it essentially aims to improve overall healthcare outcomes in alignment with the goals of Saudi Vision 2030.

Since its launch in September 2021, the centre has executed over 170,000 intervention procedures, significantly reducing bed waiting times from 32 hours to six hours.

The emergency department has also seen a 14 per cent reduction in waiting times, which similarly the waiting times in the pharmacy and laboratory have improved, with over 90 per cent of beneficiaries receiving services in less than 15 minutes.

Since its establishment, the centre has become the primary source for data-driven decision-making, it continuously monitors patient movements to maintain care quality, adhere to standard operating procedures, and predict demand volumes to mitigate risks and address potential challenges.

Simultaneously, as a strategic health partner at the Global Health Exhibition in Riyadh from Oct 29 to 31, KFSH&RC showcases its mechanisms for improving operational efficiency, healthcare outcomes, and the patient experience, positioning itself as a leading healthcare solution in the region.

The Capacity Command Centre relies on a strategy that adjusts business plans and interventions based on evidence-based practices driven by artificial intelligence to improve workflow mapping and planning.

This centre is part of KFSH&RC’s ongoing efforts to harness all resources and bring the latest technologies to improve outcomes and operational efficiency, aiming to be the optimal choice for every patient seeking specialised healthcare services, making these services accessible to a broader range of beneficiaries.

-- BERNAMA