BEST'S MARKET SEGMENT REPORT: MAJOR ASIA-PACIFIC REINSURERS DELIVER STABLE PERFORMANCES AMID GROWING COMPETITION AND UNCERTAINTY

HONG KONG, Aug 29 (Bernama-BUSINESS WIRE) -- Major Asia-Pacific reinsurers sustained the ability to deliver stable operating and return on equity ratios in 2021, with average annual net premium growth of nearly 10% in the most recent five-year period, according to a new AM Best report.

The new Best’s Market Segment Report, “Asia-Pacific’s Major Reinsurers Deliver Stable Performances Amid Growing Competition and Uncertainty,” is part of AM Best’s month-long look at the global reinsurance industry ahead of Rendez-Vous de Septembre in Monte Carlo. Based the operating performance of a group of selected Asia-Pacific domiciled reinsurers that rank among the top 50 largest reinsurance groups globally, as calculated by AM Best, 2022 is shaping up to be another profitable year thanks to benign natural catastrophe activity in the region in the first half of the year. Pricing momentum in most Asia-Pacific markets is also expected to firmly support premium rate increases for the 2023 renewal seasons, given the recent years of underperformance and retrocession capacity reduction in the global reinsurance market.

The Asia-Pacific composite’s five-year average return on equity (2017-2021) is 5.8%. While the loss ratio shows an increasing trend, it is offset by a decreasing expense ratio, resulting in a stable combined ratio that has hovered around the break-even point. According to the report, investment returns have remained stable as well.

“Most reinsurers in the composite have benefitted from strong economic growth in their home markets, from providing capacity to cedants for capital relief via proportional treaties with loss absorbing features, which has led to stable combined ratios,” said Christie Lee, senior director, AM Best. However, many major regional reinsurers’ investment portfolios lack geographic diversification, and investment returns are highly correlated with the home market’s capital market volatility.

The accumulation of natural catastrophe risks in Asia-Pacific reinsurers’ home markets remains a significant risk, but AM Best notes that reinsurers in the region have put in years of effort to diversify growth, and now are reaping the benefits from business profiles that are more balanced between domestic and overseas contributions, as well as life and non-life business.

“Diversification enhances returns stability, cost of capital and pricing competitiveness,” said Lee.

AM Best is of the view that capacity in the insurance-linked securities (ILS) market can also support regional reinsurers in capturing rate hardening opportunities. The governments of Singapore and Hong Kong are keen to leverage their positions as financial powerhouses to develop their respective alternative capital markets for the issuance of ILS. From an investor perspective, catastrophe bonds that cover Asia-based risks present an attractive alternative for institutional investors looking to diversify their existing portfolios, as current ILS issuances are focused largely on U.S. and European risks. However, investors will need to gain a better understanding of Asian risks and pricing, as well as the interpretation of catastrophe modelling results.

To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=323398. Additional reports, including AM Best’s annual ranking of the Top 50 global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd’s, life/health and regional reinsurance markets, will be available during the months of August and September leading up to Rendez-Vous de Septembre. A short video interview about this report also can be viewed at http://www.ambest.com/v.asp?v=ambglobalap922.

Finally, AM Best will host its annual reinsurance market briefing at Rendez-Vous de Septembre on 11 September at 10:15 a.m. (CEST), at the Hermitage Hotel in Monte Carlo. For more information, please visit http://www.ambest.com/conferences/rmbrvs2022/index.html.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing 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 © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. 

http://mrem.bernama.com/viewsm.php?idm=44014

Syngenta’s TYMIRIUM® technology secures regulatory approval in Argentina

 

Syngenta’s novel TYMIRIUM® technology protects against nematodes and soil-borne diseases that cause as much as 12% of crop losses globally (Photo: Business Wire)
 

KUALA LUMPUR, Aug 26 (Bernama) -- Syngenta, one of the world’s leading agriculture companies, announced its TYMIRIUM® technology has received regulatory approval in Argentina.

The technology will bring farmers closer to accessing the novel nematicide and fungicide for both seed and soil uses, which is highly effective even at low use rates.

According to a statement, TYMIRIUM® technology provides long-lasting protection against invisible yet highly destructive nematodes and soil-borne diseases – particularly the Fusarium species. 

Key benefits include its ability to safeguard plant roots from attack, translocate to above-ground parts of the plant and protect against early season diseases. Simple to apply, it is also highly compatible with a wide range of other crop inputs.

“The development of TYMIRIUM® technology required an investment of over 10 years to bring it from discovery to market – a clear example of Syngenta’s commitment to addressing farming needs,” said the president of Global Crop Protection Jeff Rowe.

Farmers using TYMIRIUM® technology further benefit from its ability to preserve soil biodiversity and soil health. A protected, stronger root system supports soil structure and soil organic matter enhances nutrient use efficiency, and improves crop resilience to both biotic and abiotic stress.

Highly selective, TYMIRIUM® technology has minimal impact on beneficial insects, pollinators, and soil biodiversity.

Products containing TYMIRIUM® technology will be launched in over 100 crops and in more than 60 countries worldwide, under various trademarks in the coming years.

More details at www.syngenta.com.

-- BERNAMA

AM BEST REVISES OUTLOOK ON TAIWAN'S NON-LIFE INSURANCE MARKET TO 'NEGATIVE'

KUALA LUMPUR, Aug 25 (Bernama) -- Global credit rating agency, AM Best has revised its market segment outlook on Taiwan’s non-life insurance segment to ‘negative’ from ‘stable’, citing that the resurgence of COVID-19 cases has led to significant losses in pandemic-related insurance policies.

In its “Market Segment Outlook: Taiwan Non-Life Insurance,” AM Best noted that impacts on companies vary, depending on their pandemic insurance exposures and policy expiration patterns.

“AM Best expects that the total claims from the pandemic policies will continue to rise and put material pressure on the non-life segment’s underwriting performance for full-year 2022.

“However, over the intermediate term, insurers that were less impacted are likely to recoup such losses from their non-pandemic-related traditional underwriting portfolios, which have a track record of favourable technical results,” said associate director, James Chan in a statement today.

The prolonged low-interest rate environment in Taiwan, as well as heightened capital market volatility during the first half of 2022 (1H2022), also continued to challenge non-life insurers. 

Its stock market index declined by nearly 20 per cent in 1H2022, creating volatility in carriers’ capitalisation and operating results through capital gains and losses. 

Moving forward, AM Best expects the market to maintain its focus on profitability and achieve operating margins for non-pandemic lines of business in 2022, similar to levels prior to the surge of COVID-19 infections.

-- BERNAMA

Infinitesima completes investment round to ramp up production of Metron3D

KUALA LUMPUR, Aug 23 (Bernama) -- Infinitesima has completed its investment round to ramp up production of the Metron3D 300 mm in-line wafer metrology system.

The investment round was led by Wonik Investment Partners, a subsidiary of the leading international South Korean company Wonik, which operates a broad range of businesses, including semiconductor materials and equipment.

“We are delighted to welcome Wonik Investment Partners as a co-investor and partner as we introduce the Metron3D to leading semiconductor manufacturers,” said Infinitesima chairman and founder of ARC InterCapital, Andrew Dixon, in a statement.

Meanwhile, Infinitesima chief technical officer and founder Professor Andrew Humphris said: “We are excited that our unique high-speed probe technology, together with the growing industry need for in-line 3D metrology, has resulted in strong customer engagements.”

The Metron3D system features the company’s proven Rapid Probe Microscope (RPM) technology and modules from leading industry suppliers to ensure maximum performance and reliability.

The system has been designed for high throughput, fully automated, in-line production process control to address the increasing need for high-resolution 3D metrology in advanced semiconductor processes.

Infinitesima Ltd is a United Kingdom-based leader in advanced metrology solutions for the semiconductor industry.

-- BERNAMA

Cody Patrick named OEM direct sales manager for Nikkiso ACD

KUALA LUMPUR, Aug 16 (Bernama) -- Nikkiso Cryogenic Industries’ Clean Energy & Industrial Gases Group, a part of the Nikkiso Co Ltd (Japan) group of companies, announced that Cody Patrick has been named OEM direct sales manager for Nikkiso ACD.

Nikkiso ACD is a part of the cryogenic pumps unit of Nikkiso’s Clean Energy & Industrial Gases Group.

“Given Patrick’s enthusiasm and understanding of the cryogenic pumps market, we are excited to have him join the group. We’re looking forward to his support in further developing the opportunities in this market,” said president and chief executive officer of the group’s pump unit Daryl Lamy in a statement.

Patrick is a graduate of Texas A&M College of Engineering’s Industrial Distribution programme. The combination of his education and experience with cryogenic pumps for the industrial gases market makes him well suited to assist with growing the US market.

Based in Houston and reporting to Ian Guthrie, business line manager for the group’s cryogenic pumps unit, Patrick will manage and develop business strategies and opportunities as well as assist the development of training and educational programmes for the group’s clients. 

With this addition, Nikkiso continues its commitment to be both a global and local presence for its customers.

-- BERNAMA

TESSA THERAPEUTICS DOSES FIRST PATIENT IN PHASE 1B CLINICAL TRIAL INVESTIGATING TT11 IN COMBINATION WITH NIVOLUMAB FOR THE TREATMENT OF RELAPSED/REFRACTORY CLASSICAL HODGKIN LYMPHOMA (CHL)

Phase 1b clinical trial (ACTION) designed to evaluate TT11 as a potential second-line therapy

TT11, Tessa’s autologous CD30-CAR-T therapy, is also being investigated as a monotherapy in the treatment of relapsed/refractory cHL

SINGAPORE, Aug 18 (Bernama-GLOBE NEWSWIRE) -- Tessa Therapeutics Ltd. (Tessa), a clinical-stage cell therapy company developing next-generation cancer treatments for hematological malignancies and solid tumors, today announced the dosing of the first patient in a Phase 1b clinical trial investigating TT11, the company’s autologous CD30 chimeric antigen receptor T-cell (CAR-T) therapy, in combination with Bristol Myers Squibb’s nivolumab as a potential second-line treatment for patients with relapsed or refractory CD30-positive classical Hodgkin lymphoma (cHL).

The Phase 1b open-label trial (ACTION; NCT05352828) will enroll up to 14 patients with CD30+ cHL with relapsed or refractory disease after front-line therapy combining PD-1 antibody and CAR-T therapy in a “sandwich” study design. Patients will initially receive two cycles of nivolumab dosed at four-week intervals followed by lymphocyte depleting treatment with fludarabine/bendamustine chemotherapy. Patients will then receive a single infusion of TT11, followed by two additional cycles of nivolumab. The primary endpoint of the trial is safety and tolerability of the combination regimen. Secondary endpoints will evaluate key efficacy indicators including overall response rate, duration of response, and progression-free survival.

“Initiation of this Phase 1b clinical trial marks an important milestone for our autologous CD30.CAR-T program as we now have the opportunity to evaluate TT11 in combination with nivolumab as a potential second-line treatment for relapsed or refractory classical Hodgkin lymphoma,” stated John Ng, CTO and Acting CEO of Tessa Therapeutics. “Data from our ongoing clinical program investigating TT11 as a monotherapy treatment for later lines of classical Hodgkin lymphoma has demonstrated the CAR-T therapy to be safe with promising measures of efficacy. We now welcome the opportunity to capitalize on this clinical progress by investigating TT11 as a second-line combination therapy, which offers the opportunity to greatly increase the patient population who could potentially benefit from this course of care.”

TT11 is an autologous CD30 chimeric antigen receptor T-cell (CAR-T) therapy that harvests the patient’s own T-cells and modifies them to target cancer cells expressing the CD30 protein, a well-validated lymphoma target. Clinical data from the pilot part of the ongoing Phase 2 CHARIOT trial of TT11 presented at ASH demonstrated a favorable safety profile and promising efficacy in 14 evaluable patients with relapsed or refractory classical Hodgkin lymphoma (cHL), with a complete response (CR) rate of 57.1 percent and an overall response rate (ORR) of 71.4 percent. Tessa expects to advance to the pivotal Phase 2 CHARIOT trial later this year.

Nivolumab is a human IgG4 monoclonal antibody that blocks PD-1. It has been approved by the U.S. Food and Drug Administration (FDA) as a treatment for numerous cancer indications, including classical Hodgkin lymphoma.

“The current standard of care for relapsed or refractory classical Hodgkin Lymphoma is associated with short-term toxicities and long-term morbidity, with particularly poor tolerability noted among elderly patients,” said Dr. Ivan Horak, Chief Medical Officer and Chief Scientific Officer of Tessa Therapeutics. “TT11, Tessa’s CD30 CAR-T therapy, has demonstrated encouraging clinical results as monotherapy, and we believe the combination with nivolumab has the potential to further enhance efficacy and provide patients with a chemotherapy-sparing, second-line treatment option.”

About Tessa Therapeutics

Tessa Therapeutics is a clinical-stage biotechnology company developing next-generation cell therapies for the treatment of hematological cancers and solid tumors. Tessa’s lead clinical asset, TT11, is an autologous CD30-CAR-T therapy currently being investigated as a potential treatment for relapsed or refractory classical Hodgkin lymphoma as both a monotherapy (Phase 2) and combination therapy (Phase 1b). TT11 has been granted RMAT designation by the FDA and access to the PRIME scheme by European Medicine Agency. Tessa is also advancing an allogeneic “off-the- shelf” cell therapy platform targeting a broad range of cancers in which Epstein Barr Virus Specific T Cells (EBVSTs) are augmented with CD30-CAR. A therapy using this platform is currently the subject of a Phase 1 clinical trial in CD30-positive lymphomas. Tessa has its global headquarters in Singapore, where the company has built a state of the art, commercial cell therapy manufacturing facility. For more information on Tessa, visit www.tessacell.com.

Cautionary Note on Forward Looking Statements

This press release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, to the fullest extent applicable) including, without limitation, with respect to various regulatory filings or clinical study developments of the Company. You can identify these statements by the fact that they use words such as “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “believe”, “target”, “may”, “assume” or similar expressions. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those related to the Company’s financial results, the ability to raise capital, dependence on strategic partnerships and licensees, the applicability of patents and proprietary technology, the timing for completion of the clinical trials of its product candidates, whether and when, if at all, the Company’s product candidates will receive marketing approval, and competition from other biopharmaceutical companies. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made, and disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent the Company’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. The Company’s products are expressly for investigational use pursuant to a relevant investigational device exemption granted by the U.S. Food & Drug Administration, or equivalent competent body. 

http://mrem.bernama.com/viewsm.php?idm=43925

Spryker recognised by Gartner as a Visionary in 2022 Magic Quadrant for Digital Commerce

KUALA LUMPUR, Aug 18 (Bernama) -- Spryker, the leading composable commerce platform for enterprises, has been recognised by Gartner as a Visionary in the 2022 Magic Quadrant for Digital Commerce.

According to a statement, it is Spryker's third consecutive inclusion in the Gartner Magic Quadrant for Digital Commerce.

“At Spryker, our goal is to enable digital innovation and differentiation with our composable platform designed specifically for sophisticated transactional business models,” said co-founder and chief executive officer at Spryker, Boris Lokschin.

“We believe being recognised for the second time as a Visionary validates our continued dedication to empowering companies to grow, innovate and differentiate. We will continue to evolve our solution and our partner ecosystem to help our customers grow and adapt.”

Customers around the world rely on Spryker for its composability and cloud-native enterprise marketplace business-to-business (B2B) and business-to-consumer (B2C) capabilities.

Spryker recently built on this with the launch of the Spryker App Composition Platform, making it easier than ever for organisations to choose enterprise commerce solutions.

With more customers seeing the value of composability, Spryker has seen expansion and customer acquisition across the globe, including its first customer in Australia and New Zealand, 200 per cent growth in Benelux, and 100 per cent year-over-year growth in the North American enterprise digital commerce market.

More details at https://spryker.com.

-- BERNAMA

VIETNAMESE AMBASSADOR VISITS NX AGRIGROW

TOKYO, Aug. 17, 2022 /Kyodo JBN-AsiaNet/ --

NX AgriGrow Co., Ltd. headquartered in Hokuto City, Yamanashi Prefecture, a group company of NIPPON EXPRESS HOLDINGS, INC., received a visit from H.E. Vu Hong Nam, Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Japan, on Thursday, August 4.   Logo: https://kyodonewsprwire.jp/img/202208125063-O1-64cXX1Yl   Photo: Third from right: Ambassador Vu Hong Nam; second from right: NX AgriGrow President Nami Moroi https://kyodonewsprwire.jp/prwfile/release/M103866/202208125063/_prw_PI2fl_2PE7Ty7W.jpg     The Nippon Express Group established NX AgriGrow (formerly Nittsu Farm Co., Ltd.) in Hokuto City, west of Tokyo, in 2016, and the company has since been working with the local community on projects aimed at eliminating abandoned farmland, contributing to local employment and resolving other issues facing the city. In February this year, NX AgriGrow concluded a comprehensive partnership agreement with Hokuto City to promote the sustained development of agriculture and revitalize the local economy, and it is striving through Hokuto's key industry of agriculture to create a new model for sustainable regional development.   Vietnamese Ambassador to Japan Vu Hong Nam recently made a tour of companies in Hokuto City during which NX AgriGrow was recommended to him by Hokuto Mayor Eiji Kamimura as a firm engaged in cutting-edge agriculture, prompting the ambassador to visit NX AgriGrow in person.   The Nippon Express Group has been teaming up with individuals, companies, and communities to make forward progress alongside society, and it will continue fulfilling its responsibilities and actively striving to bring about a sustainable society.   Nippon Express website: https://www.nipponexpress.com/   Nippon Express Group's official LinkedIn account: https://www.linkedin.com/company/nippon-express-group/     Source: NIPPON EXPRESS HOLDINGS, INC.   http://mrem.bernama.com/viewsm.php?idm=43916

THIRD PRUNUS SALICINA HARVEST FESTIVAL CONCLUDE IN YINGKOU DASHIQIAO CITY

KUALA LUMPUR, Aug 15 (Bernama) -- The 3rd Prunus Salicina Harvest Festival and Rural Revitalization Excellent and Special Agricultural Products Exhibition live conference of Yingkou Dashiqiao city were recently held in Dashiqiao City Business Incubation Base.

The Festival, held for two consecutive years, has attracted numerous merchants and made it a gala for showing the agricultural characteristics industries of Dashiqiao city, according to the Information Office of Dashiqiao city in a statement.

At the opening ceremony, representatives of six enterprises signed contracts with representatives of anchors to promote the combination of online and offline sales channels.

The event had two sub-sessions. The first branch was located beside the old Prunus salicina tree in Zhoujia Town. An auction of the King of the Plum was held on-site, and the proceeds were used to support the public welfare undertakings of Dashiqiao.

The other meeting was located in Xifenggou village Prunus salicina Characteristic Industry Demonstration Base, at which the signing ceremony of a Prunus salicina sales contract between a local agricultural cooperative and a trading company was held.

The unique natural conditions and geographical environment of Dashiqiao city breed high-quality agricultural and forestry resources.

Prunus salicina is the special agricultural product, and it has become the new ID card of the city, famous for being rich in selenium.

The brand of 'Dashiqiao Prunus salicina' is listed as National Geographical Indication product and one of the products of the agricultural products protection project by the Ministry of Agriculture and Rural Affairs.

-- BERNAMA

TUXCARE LAUNCHES PHP EXTENDED LIFECYCLE SUPPORT SERVICE

New offering helps organizations cost-effectively remain compliant and protected

PALO ALTO, Calif., Aug 11 (Bernama-BUSINESS WIRE) -- TuxCare, a global innovator in enterprise-grade cybersecurity for Linux, today announced general availability of its new PHP Extended Lifecycle Support (ELS) service.

A commonly used, open-source scripting language, PHP is prevalent among web applications as well as widely used content management systems such as WordPress. TuxCare’s new PHP Extended Lifecycle Support services arm organizations with the convenience and protection associated with ongoing updates for PHP language-level security issues.

“Through this launch of our new PHP ELS service, TuxCare once again positions itself as a leading innovator that’s committed to providing powerful combinations of convenience and security for developers – enabling organizations to continue using existing code while still maintaining a strong security posture in regard to language-level vulnerabilities,” said Jim Jackson, President and Chief Revenue Officer at TuxCare. “We’re pleased to provide this cost-savings and the peace of mind that language functionality can be easily maintained.”

TuxCare’s PHP ELS supports PHP 5 and onward. The service is also set to include support for some of the most widely used PHP libraries. For more information, click here.

About TuxCare

Providing enterprise-grade automation for Linux, TuxCare provides unmatched levels of efficiency for developers, IT security managers and Linux server administrators seeking to affordably simplify and enhance their operations. TuxCare’s Linux kernel live security patching as well as its standard and enhanced support services help secure and support on over one million production workloads. Headquartered in Palo Alto, California, TuxCare is relied upon by some of the world’s most discerning organizations, including technology leaders, financial institutions, government agencies, service providers, oil and gas companies and renowned higher education institutions. Visit tuxcare.com. 

http://mrem.bernama.com/viewsm.php?idm=43865

STEFAN KUIJS NAMED PRODUCT MANAGER FOR LNG & HYDROGEN - THE NETHERLANDS - FOR NIKKISO CLEAN ENERGY AND INDUSTRIAL GASES GROUP EUROPE

TEMECULA, Calif., Aug 9 (Bernama-GLOBE NEWSWIRE) -- Nikkiso Cryogenic Industries’ Clean Energy & Industrial Gases Group (“Group”), a part of the Nikkiso Co., Ltd (Japan) group of companies, is pleased to announce that Stefan Kuijs has been named Product Manager for LNG & Hydrogen for Nikkiso Integrated Cryogenic Solutions serving the Netherlands.

A mechanical engineer, Stefan has specialized education and training in process engineering, and has over ten years’ experience with design, installation, commissioning and start-up of LNG/CNG stations and bio-gas installations. His responsibilities have also included Hydrogen projects with focus on energy transition and clean fuels. He will be responsible for the full line products, sales and solutions related to LNG and Hydrogen.

“Stefan’s industry and market experience will be of great benefit to the Group, as we work to develop the opportunities in this region” according to Ole Jensen, Vice President, Nikkiso Clean Energy & Industrial Gases Europe.

With this addition, Nikkiso continues their commitment to be both a global and local presence for their customers. 

http://mrem.bernama.com/viewsm.php?idm=43845

EV INDUSTRY CHAIN IN KAOHSIUNG ACHIEVES GREATER GLOBAL PRESENCE

KAOHSIUNG,Taiwan, Aug 8 (Bernama-BUSINESS WIRE) -- The global sales of electric vehicles (EV) are growing exponentially. To forge Kaohsiung an important base for the global EV industry, the Kaohsiung City Government teamed up with Hon Hai Technology Group (Foxconn) to work on several aspects such as smart electric buses and smart city development, with an aim of becoming an experimental field that offers comprehensive business and service model to attract global manufacturers to invest in Kaohsiung and establish a complete industry chain for the EV industry.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20220807005043/en/

 

Seeing the firm foundation in metal material and precision finishing technologies in Kaohsiung, Foxconn plans to build an EV ecosystem and a complete battery production chain in the southern city as part of its ambition to expand into the EV industry, ranging from the development of EVs to the production of battery packs and cells, and energy storage systems. It also aims to localize battery manufacturing across all points of the supply chain, from upstream raw materials to midstream cells and the downstream battery packs. In addition, Kaohsiung has also attracted investments from companies such as WIN Semiconductors Corp., the world’s leading foundry for power amplifiers and LiDAR technology for EVs, and lithium battery manufacturer Molie Quantum Energy Corp, laying the groundwork for the EV industry chain.

Foxtron Vehicle Technologies, a subsidiary of Foxconn, has set up its research and development and manufacturing facility for battery cells in Qiaotou Science Park. In compliance with the City Government’s plan to have all public buses run on electricity by 2030, the first Model T electric bus was officially delivered to Kaohsiung Bus in March this year with a targeted initial volume of 30 vehicles and more will be handed over based on operational demand. To promote the development of the electric bus industry in Kaohsiung, the City Government has increased subsidies for the operation of electric buses and will also subsidize the purchase of locally produced electric buses, offering grants up to NT$1.5 million per vehicle.

In June this year, Foxconn announced that it will invest NT$6 billion to build the Battery Cell Research & New Product Introduction Center in the Ho Fa Industrial Park. It is estimated that the plant will achieve a production capacity of 1GWh for electric buses, passenger cars, and energy storage systems in the first quarter of 2024.

In line with the local growth of the EV industry, the City Government is also planning to cooperate with the Ministry of Transportation and Communications to build a national-level test site for self-driving cars and Vehicle-to-Everything in the Qiaotou Science Park. By joining forces with the Smart Pole Standard Promotion Alliance, premises will be provided for testing Vehicle-to-Everything technology, services, and product verification, which will attract more relevant industries to set up their base in the area and expectedly create approximately 5,000 new jobs. The goal is to shape Kaohsiung into a model smart city and become an example for “package smart city export.” 

http://mrem.bernama.com/viewsm.php?idm=43830

AM BEST ASSIGNS CREDIT RATINGS TO GENERALI LIFE (HONG KONG) LIMITED

HONG KONG, Aug 5 (Bernama-BUSINESS WIRE) -- AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) to Generali Life (Hong Kong) Limited (Generali Hong Kong) (Hong Kong). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Generali Hong Kong’s inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. (Generali) (Italy), which has a balance sheet strength that AM Best assesses as strong, as well as its strong operating performance, very favorable business profile and appropriate enterprise risk management.

Generali Hong Kong is a wholly owned subsidiary of Generali. Generali is among the leading insurance groups worldwide, with gross premium written of EUR 75.8 billion in 2021.

Since its establishment in 2016, Generali Hong Kong has been adding to Generali’s life insurance portfolio in the region, initially through a diversified broker channel, then more recently through a combination of broker and online-to-offline digital distribution channels.

The addition of Generali Hong Kong to the Generali rating unit reflects its contribution to Generali’s growth and diversification strategy. In addition, Generali provides various implicit and explicit support to Generali Hong Kong, including capital commitment, parental guarantee, operation and reinsurance support, as well as risk management. Hence, AM Best views Generali to be strongly committed to Generali Hong Kong’s development and long-term success and will provide necessary financial support if needed.

http://mrem.bernama.com/viewsm.php?idm=43822

THE FIFTH CHINA INTERNATIONAL IMPORT EXPO BENEFITS COUNTRIES ALONG THE BELT AND ROAD

SHANGHAI, Aug 5 (Bernama-BUSINESS WIRE) -- A major platform for international procurement, investment promotion, cultural exchanges and open cooperation, the China International Import Expo (CIIE) has been held successfully for four consecutive years and is widely regarded as an international public good and the multinational trading system, as well as a pivotal carrier for building an open world economy and a community with a shared future for mankind.

Since its inception in 2018, the CIIE has been growing in scale and influence. The area of its business exhibition increased from 270,000 square meters in 2018 to 366,000 square meters in 2021. Exhibitors at the past four CIIEs launched more than 1,500 new products, technologies and services and clinched tentative deals worth over $270 billion.

As the CIIE enters its fifth year, more and more countries along the Belt and Road have begun to cast their sights on the Chinese market and export their products to China.

At the first CIIE, Ma Yuxia, a Chinese businesswoman based in South America, introduced alpaca plush toys to the Chinese market.

Ma and her Peruvian partners rented a small 9-square-meter booth to display and promote these toys and other traditional hand-made crafts in Peru. They also established their own brand called Warmpaca.

That outing to the expo proved to be incredibly fruitful. After participating in the CIIE for four consecutive years, Warmpaca can now be found in more than 20 malls in China.

To date, more than 80 percent of the planned business exhibition area for the fifth CIIE has been reserved. More than 260 Fortune Global 500 companies and industry leaders will attend the expo this year.

Many countries have confirmed their participation in the country exhibition, while a new World Openness Report and World Openness Index will be released at the Hongqiao International Economic Forum, a major part of the expo.

With so many showing their interest, space will be filling up fast. Be sure to sign up for the fifth edition before time runs out! Click here to register: https://www.ciie.org/exhibition/f/book/register?locale=en. 

http://mrem.bernama.com/viewsm.php?idm=43825

OneStream Software inks strategic partnership with EPM Global

KUALA LUMPUR, Aug 3 (Bernama) -- OneStream, a leader in corporate performance management (CPM) solutions for the world’s leading enterprises has formed a strategic partnership with EPM Global Pte Ltd to transform CPM processes for sophisticated organisations around the globe.

According to a statement, this new partnership will provide industry-leading software and implementation expertise while driving efficiency in the office of finance for customers in Singapore and throughout Southeast Asia.

“We are thrilled to announce our partnership with EPM Global Pte Ltd and extend our presence around the globe,” said senior vice-president of Global Strategic Alliances at OneStream Software, Stephanie Cramp. 

“We believe that a strategic partnership with EPM Global Pte Ltd is ideal for the evolving needs of our customers on a global scale and together we will provide our shared customers with an intelligent finance platform that allows the office of finance to lead at speed.”

Meanwhile, director of EPM Global’s Enterprise Performance Management Practice, Kumar Iyer said: “We are excited to partner with OneStream and offer a unified performance management experience for our enterprise customers to drive digital innovation and streamline complex financial processes.”

Specialising in the implementation of financial management and performance management solutions, EPM Global Pte Ltd has many years of experience in the implementation of performance management solutions including planning and forecasting.

More details at www.onestream.com.

-- BERNAMA

Hitachi Energy supports huge step in Germany's energy transition

KUALA LUMPUR, Aug 4 (Bernama) -- Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, has won a major order from TenneT and TransnetBW, two of Germany’s four transmission system operators.

This is to supply a transmission solution for the SuedLink DC4 high-voltage direct current (HVDC) interconnection between the north and south of the country.

SuedLink DC4 is one of the most important power grid and energy transition projects in Germany. It will play a crucial role in the Germany's energy transition, enabling a reduction in the use of fossil fuels and helping the country achieve carbon neutrality by 2045.

According to a statement, using Hitachi Energy’s HVDC Light technology, SuedLink DC4 will transfer up to 2,000 megawatts of emission-free electricity, enough to power five million German households.

“We are proud to play a crucial role in this very important investment in Germany’s transition to renewable energy and carbon neutrality,” said managing director of Hitachi Energy’s grid integration business, Niklas Persson.

“HVDC Light is the enabling technology for large-scale transfers of renewable energy, both onshore and offshore.”

Hitachi Energy will supply an HVDC Light converter station at each end of SuedLink DC4 to convert alternating current (AC) power from the transmitting grid to direct current for delivery through the link, and back to AC for transfer to the receiving grid.

The contract includes three cable section stations to speed up fault detection in the link.

As part of its long-term commitment to Germany’s energy transition, Hitachi Energy has recently won or completed orders for solutions that integrate large-scale renewables, including the converter stations for the Nordlink HVDC interconnector between Germany and Norway.

-- BERNAMA

SYNCHRONOSS TO POWER TELKOMSIGMA'S LAUNCH OF TWO NEW PREMIUM PERSONAL CLOUD SOLUTIONS IN INDONESIA

Incoming University Students Throughout Indonesia Will Receive a Free Floudrive Personal Cloud Account; A Premium Floudrive Account Will Also Be Available to 170 Million Telkomsel Mobile Customers

BRIDGEWATER, N.J., Aug 4 (Bernama-GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (Nasdaq: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today announced the official rollout of two new premium personal cloud solutions offered by Telkomsigma, a subsidiary of Telkom Indonesia, the country’s largest telecom operator. Following the agreement in November, Telkomsigma is now making its Floudrive service, powered by Synchronoss Personal Cloud, available to university students and Telkomsel mobile customers.

As the IT Services and Data Center arm of Telkomsel, Telkomsigma is utilizing the Synchronoss Personal Cloud platform for its Floudrive service, offering a reliable and intuitive cloud storage experience with the ability to backup and restore digital content, including photos, video, texts, and other files. To ensure compliance with Indonesia’s data storage laws, Synchronoss has partnered with Alibaba, leveraging their in-country IT infrastructure.

Beginning in September, Telkomsigma will offer incoming university students a free Floudrive account that includes 50 gigabytes of cloud storage, which can be used to backup all digital content as well as share files and photos. The free bundle is the first of its kind and offered through select universities in Indonesia. Additionally, Telkomsigma will offer a premium version of Floudrive to 170 million Telkomsel mobile customers. The premium service will include 100 gigabytes of storage.

“We are excited to rollout these two new premium personal cloud solutions that leverage the Synchronoss Personal Cloud platform, especially within the universities, which is an industry-first,” said Tanto Suratno, Director of Business and Sales, Telkomsigma. “The combination of Synchronoss and Alibaba will enable us to keep pace with the millions of subscribers that will take advantage of our free and premium Floudrive services.”

“Telkomsigma, Telkomsel, and Telkom Indonesia understand the unique market opportunity to deliver personal cloud solutions that will enable a broad range of digital services to subscribers throughout Indonesia,” said Patrick Doran, Chief Technology Officer at Synchronoss. “Knowing that local data sovereignty is a critical customer requirement, we certified our technology platform on the Alibaba Cloud platform, delivering a white-label personal cloud solution that is secure, reliable, scalable, and in-country.”

Leading Tier One service providers utilize Synchronoss Personal Cloud, Synchronoss Email Suite, or both to manage more than 250 million subscribers worldwide, storing and managing more than 142 petabytes of data.

About Synchronoss
Synchronoss Technologies (Nasdaq: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services, and content they love. Learn more at www.synchronoss.com. 

http://mrem.bernama.com/viewsm.php?idm=43812

NYI broadens 60 Hudson Street operations

KUALA LUMPUR, Aug 3 (Bernama) -- NYI, a leading provider of hybrid infrastructure solutions and managed services, has expanded its 60 Hudson Street operations through the addition of space formerly occupied by Equinix.

The expansion is the result of a joint venture with QTD Systems, which acquired the Equinix space in a transaction that closed on Aug 1, 2022, according to a statement.

“With the accelerating pace of digital transformation, the role of 60 Hudson Street as the preeminent home for global carriers in New York City becomes invaluable in terms of meeting the growing connectivity needs of customers,” said NYI co-founder and chief operating officer Phillip Koblence. “With this integration, NYI grows in its ability to serve as the premier facilitator of access to this global interconnection gateway while making deployments at 60 Hudson Street simpler and more cost-effective.”

The expansion will benefit multiple parties, including former Equinix customers who will enjoy operational continuity and access to NYI’s on-premise expert technical staff, cost-effective interconnection platform and suite of hybrid infrastructure solutions as well as high-touch managed services.

In addition, domestic and international customers will gain access to more space and power and to an expanded carrier ecosystem.

With this integration, NYI doubles its data centre footprint and immediately expands the carrier ecosystem available to customers.

-- BERNAMA

THE FIRST YUNNAN INTERNATIONAL INNOVATION & ENTREPRENEURSHIP COMPETITION (YIIEC) HAS LAUNCHED

KUNMING, China, Aug 2 (Bernama-BUSINESS WIRE) -- Yunnan, is a province located in Southwest part of China, bordering Myanmar, Laos, and Vietnam. It’s an important gateway from China to South and Southeast Asian Countries. With the completion of China-Laos railway, China-Thailand railway, China-Singapore railway, China-Myanmar railway, and China-Vietnam railway are all in the planning and construction process. There is no doubt, Yunnan will become the central connection point between China and South and Southeast Asia.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20220722005141/en/

 

To attract global talents and companies to come to Yunnan, Yunnan Provincial government is organizing the First Yunnan International Innovation and Entrepreneurship Competition (YIIEC). The fund can be received from the Competition is up to 400k RMB. Apart from the funding reward, the government is also providing a series of policy support, including financing, land, office, industry resources, human resources, and work permits, etc.

The Competition is jointly organized by Yunnan Provincial Science and Technology Department, Yunnan Provincial Education Department, Foreign Affairs Office of People's Government of Yunnan Province, and Yunnan Provincial Committee of the Communist Youth League of China and other relevant departments. The Competition is executed by Yunnan Association for International Science and Technology Cooperation.

Yunnan International Innovation and Entrepreneurship Competition (YIIEC) is designed to provide a competition platform with practical incubation benefits for international innovators and entrepreneurs. The competition opens to projects from industries: such as the bio-medicine, new energy resources, new materials, advanced equipment manufacturing, information and technology, green and environmental protection, agriculture, as well as cultural tourism and healthcare, etc.

This Competition is divided into two categories: South and Southeast Asia Competition and Returned Overseas Chinese Competition. The main competition area is in Yunnan. Preliminary competition and the final competition will be held in Kunming, and conducted online and offline. International teams can present their projects and ideas online.

Award-winning enterprises (teams) will receive corresponding policy support, and financial support. There is no charge for participants in this competition. Participants can register online through the official website of the competition (www.yiiec.com/en/) . The registration deadline for the competition is August 5, 2022.

YIIEC will be a great opportunity for companies and teams to showcase themselves to China, South and Southeast Asia. The judge panel of the competition will be composed of investors and industry experts. Incubation service will be provided to all companies and teams entering the competition. 

http://mrem.bernama.com/viewsm.php?idm=43789