KFSH&RC'S CAPACITY COMMAND CENTER IS A PIONEERING MODEL FOR ACHIEVING MAXIMUM OPERATIONAL EFFICIENCY

Bed waiting time reduced from 32 hours to 6 hours 

RIYADH, Saudi Arabia, Oct 31 (Bernama-GLOBE NEWSWIRE) -- Healthcare providers are facing a continuous increase in the demand for healthcare services, necessitating a redirection of efforts towards improving the operational efficiency of healthcare institutions. In response to this challenge that healthcare providers worldwide face, the Capacity Command Center in King Faisal Specialist Hospital and Research Centre (KFSH&RC) has emerged as a pioneer in enhancing operational efficiency by implementing globally recognized procedures. It essentially aims to improve overall healthcare outcomes in alignment with the goals of Saudi Vision 2030.

Since its launch in September 2021, the Center has executed over 170,000 intervention procedures, significantly reducing bed waiting times from 32 hours to 6 hours. The emergency department has also seen a 14% reduction in waiting times. Furthermore, waiting times in the pharmacy and laboratory have improved, with over 90% of beneficiaries receiving services in less than 15 minutes.

Since its establishment, the Center 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. 

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IBF Net Indonesia Broadens Global Footprint With Netversity Project

KUALA LUMPUR, Oct 30 (Bernama) -- Indonesian learning provider PT IBF Net Indonesia, has expanded its global footprint with launch of its groundbreaking Netversity project, marking a significant step towards globalising its comprehensive portfolio of courses, catering to a diverse and international audience.

According to a statement, PT IBF Net Indonesia is poised to expand its offerings exponentially, with plans to introduce over 50 courses designed to benefit its network of over 80 thousand members worldwide, from its modest beginnings with a handful of courses focused on Islamic social finance.

Announcing its latest portfolio of courses with the onset of the Indonesian Sharia Economy Festival (ISEF), IBF Net Indonesia President Director, Dr Mohammed Obaidullah said ISEF is an important occasion for the company to plan ahead and share its aspirations, welcoming well-wishers and guests from different parts of the globe to Indonesia.

“A halal ecosystem is not just about Islamic finance. Most of the present-day training providers focus on a handful of areas, such as banking, insurance and investments, and more recently on microfinance and fintech in the context of a Shariah-based economy.

“This is my dream project working with a team of young and energetic Islamic economists from Indonesia and an international panel of experts,” he added.

Prior to his leadership role with IBF Net Indonesia, he served the Jeddah-based Islamic Development Bank Institute as a lead research economist.

PT IBF Net Indonesia established the International Institute of Islamic Business and Finance (IIIBF) with a mission to advance human capacity building within the halal ecosystem through research and technology.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF LABUAN REINSURANCE (L) LTD

SINGAPORE, Oct 26 (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 Labuan Reinsurance (L) Ltd (Labuan Re) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

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

Labuan Re’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which is at the strongest level at year-end 2022. The company adopts a prudent capital management approach to support risk-adjusted capitalisation at the strongest level over the medium term, along with an appropriate regulatory solvency position. AM Best views the company as having a moderate risk investment strategy with investment assets predominantly held in cash, deposits and high quality fixed-income instruments, albeit with a modest exposure to equities. Partially offsetting balance sheet strength factors include Labuan Re’s exposure to natural catastrophe risks relative to the size of its capital base, which emanates from its regional reinsurance operations and international operations through its participation in Lloyd’s syndicates.

AM Best views Labuan Re’s operating performance as adequate, with its overall earnings historically supported by robust investment returns. The company recorded an elevated average combined ratio of 105.6% over a five-year period between 2018 and 2022, primarily due to catastrophe-related losses. However, following remedial actions taken by management, the company’s underwriting performance improved in 2021 and 2022. Prospectively, AM Best expects an adequate level of operating performance to be maintained and underpinned by positive underwriting results and investment income, despite short-term volatility driven by unrealised fair value investment losses in recent periods.

AM Best assesses Labuan Re’s business profile as neutral given its position as a well-established regional non-life reinsurer. In addition, the company’s business profile continues to benefit from portfolio diversification through its participation as a corporate member in Lloyd’s syndicates. Labuan Re’s gross written premium has limited growth in recent years, partially due to a planned reduction in its participation in Lloyd’s business. However, AM Best expects the company to record moderate growth over the medium term, driven by product initiatives and its positioning in a generally hard reinsurance market. AM Best views the company’s ERM approach as appropriate given the current size and complexity of its operations.

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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Productivity's Workshop Meeting Kicks Off In Ankara

 

L–R: APO Director for Turkiye Abdullah Basar, Minister of Industry and Technology Mehmet Fatih Kacir, APO Secretary-General Dr. Indra Pradana Singawinata. (Photo: Business Wire)

KUALA LUMPUR, Oct 23 (Bernama) -- The Asian Productivity Organization’s (APO’s) newest member, Turkiye, hosted the 64th Workshop Meeting (WSM) of Heads of National Productivity Organizations (NPOs) in Ankara, from Oct 17 to 19.

According to a statement, the three-day meeting was attended by 65 NPO Heads together with delegates from 20 APO members, and commenced with remarks by APO Director for Turkiye and Ministry of Industry and Technology, Director General for Strategic Research and Productivity, Abdullah Basar.

With APO Vision 2025 as the forefront of the discussions, its Secretary-General Dr Indra Pradana Singawinata underscored the critical importance of refining the vision’s intended results and measures or indicators of success to ensure that they are amplified beyond APO programmes and projects.

Meanwhile, Turkiye Minister of Industry and Technology, Mehmet Fatih Kacir who is also the Guest of Honour said: “With this approach, we see new technologies focused on productivity as one of the most effective tools for solving global problems.

“Productivity is at the basis of a prosperous future and sustainable growth, and digital and green transformation is at the basis of productivity,” he said.

A significant segment of the meeting was dedicated to strategising and planning for the 2025–26 biennium, ensuring that the APO remains agile and attuned to the evolving needs of its diverse members and reinforced the commitment to its mission of sustainable socioeconomic development through productivity across the Asia Pacific region.

Some vision proposals endorsed by the WSM included the launch of an executive leadership programme for NPOs and establishment of a fund for outreach to nonmembers. With the shared collective wisdom and renewed strategies, the APO is ready to navigate the dynamic challenges and opportunities ahead.

Established in 1961, the APO is a regional intergovernmental organisation dedicated to improving productivity in the Asia Pacific region through mutual cooperation, comprising 21 member economies.

-- BERNAMA

ENVIRO GROUP ASIA AND DISRUPT-X TO CREATE IOT AND DIGITAL TECHNOLOGY WORTH USD100 MILLION IN FIVE YEARS

 

DUBAI, Oct 17 (Bernama) -- Enviro Group Asia, Malaysia’s leading indoor environmental technologies and engineering services provider, and Disrupt-X, a pioneering IoT solutions and digital company, today signed a Memorandum of Understanding (MoU) on the sidelines of the Gulf Information Technology Exhibition (GITEX 2023). The MoU was witnessed by Malaysia’s Minister of Communications and Digital, Fahmi Fadzil, who heads the Malaysian delegation in the UAE on a 4-day visit.

“We are proud to be partnering with Disrupt-X, headquartered in Dubai in this strategic collaboration, which will see the two parties driving innovation and technological advancements in the ASEAN region, with expansion plans to Oceania in the coming future,” says Nitesh Malani, CEO of Enviro Group Asia. “This partnership is expected to generate investment and revenue over the period from 2024 to 2028 of USD50mil to USD100mil,” he added.
 
The partnership encompasses a broad spectrum of initiatives, including Research and Development (R&D), device manufacturing, collaboration with local Malaysian manufacturers, technology transfer, and a comprehensive training program aimed at upskilling local talent with strong support from MDEC and MITI Malaysia.
 
“Disrupt-X and Enviro Group are profoundly committed to creating a more sustainable and connected world. We aim to drive forward the vision of both companies in fostering technological innovation and improving environmental sustainability across the region,” says Rajpall Singh, Head of Business Development of Disrupt-X.
 
The partnership between Disrupt-X and Enviro Group will focus on several key components:
 

1. Business Expansion: Disrupt-X and Enviro Group are dedicated to expanding their business operations within the ASEAN and Oceania regions. This expansion will involve introducing innovative technologies and fostering mutually beneficial partnerships and collaborations to drive economic growth and environmental sustainability.

2. Research and Development (R&D): The collaboration will lead to the creation of cutting-edge IoT solutions and digital technologies tailored to the unique needs of the ASEAN and Oceania markets. This will result in sustainable products and services that address environmental challenges and enhance operational efficiency.

3. Device Manufacturing: Local manufacturing partnerships in Malaysia will enable the production of IoT devices, ensuring a reliable supply chain and fostering local economic growth.

4. Technology Transfer: The transfer of advanced technologies will empower local communities, fostering a culture of innovation and entrepreneurship. This will help ASEAN and Oceania stay at the forefront of digital transformation.

5. Training and Talent Upskilling: The partnership is deeply committed to nurturing local talent. Training programs will be initiated to equip individuals with the skills needed to excel in the technology and IoT sector, ensuring long-term growth and development.

Disrupt-X and Enviro Group have selected Malaysia as the central hub for their operations and expansion in the ASEAN region and Oceania. This strategic decision reinforces their commitment to the local community and positions Malaysia as a technology and innovation epicenter within the region.
 
About Enviro Group Asia
Enviro Group delivers the best total solutions in Indoor Environmental Technologies and Engineering Services to ensure a healthier and safer indoor environment. ENVIRO Group Asia is an indoor engineering and air quality service provider providing integrated services to clients across all industries. We are the region’s leading turnkey indoor environmental professionals and remediators, assisting you to streamline the reliable and efficient delivery of premium solutions and services. Our team of highly qualified professionals has over 20 years of market experience and can implement cost-effective solutions and strategies to prevent and manage indoor environmental hazards. Our professional team is available at your request to provide the most comprehensive and comprehensive services to the residential, commercial, and industrial markets.

For more details, please visit https://envirogroup.asia/

About Disrupt-X

Located in the heart of Dubai, Disrupt-X has established itself as a pioneering force in the realm of Internet of Things (IoT) through their premier platform. They specialise in engineering versatile IoT solutions that are adept at catering to a diverse array of industry verticals. At the forefront of their technological innovation is ALEF IoT Platform which includes Mobile Applications, designed to revolutionize operations by automating processes and optimizing efficiency. Building on their established portfolio, Disrupt-X has incorporated a LoRaWAN® Network Server to their offerings, further enhancing their commitment to delivering comprehensive IoT solutions.

By providing over 50 ready use-cases, Disrupt-X showcases its versatility in meeting diverse business needs. The company is constantly innovating and expanding, planning to extend its portfolio to up to 80 ready use-cases by the end of 2023. Furthermore, they proudly host the Cracking IoT Conference, a global gathering that brings together industry experts for insightful discussions, fostering a deeper understanding of IoT’s transformative potential.

For more details, please visit https://www.disrupt-x.io/.

SOURCE: Enviro Group

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MUST CONNECT 2023 SINGAPORE HIGHLIGHTED THE CUTTING-EDGE INNOVATIONS OF KOREAN LIFE SCIENCE STARTUPS

• Twelve promising Korean startups to showcase their products and growth plans to global pharmaceutical companies and investors

 
SINGAPORE, Oct 16 (Bernama-BUSINESS WIRE) -- MUST Connect 2023 Singapore, a roadshow that helps Korean life science startups expand overseas by connecting them with global pharmaceutical companies and investors, was held on Oct. 11 (Wed.) and 12 (Thu.) at Singapore Science Park.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20231015795263/en/

 

Twelve Korean startups showcased their innovative products and solutions at the event. Among them were Neurophet, which uses AI to analyze brain structures that vary from person to person; ImmunAbs, an autoimmune treatment that is set to enter Phase II clinical trials in the U.S. next year; and ABLELabs, a manufacturer of bio-lab liquid handling robots that won second place in the Innovator's Pitch Challenge at RESI Boston September. Seoul Biohub, a South Korean government-backed organization, provided support to some of the participating companies.

Several pharmaceutical companies including J&J and Sanofi CHC were present to explore investment and collaboration opportunities, as well as SGInnovate, the Singapore venture capital and entrepreneurship support organization, EDB Investments, the country's economic development agency, and Jungle Ventures, a leading venture capital firm in Southeast Asia, and Philips Ventures, which has a strong focus on life sciences.

The event kicked off with presentations on cutting-edge industry trends and open innovation initiatives by leading companies and hospitals, followed by investor pitches from 12 Korean startups. It also provided opportunities for startups to network with investors and potential collaborators. Personalized one-on-one meetings were held to facilitate discussions about investment and partnership opportunities.

J&J, through its global startup support program JLabs, has recently shown a strong interest in Korean life sciences startups. “Innovation has no borders,” said Sharon Chan, head of innovation at JLabs Asia Pacific, noting that more than 40% of the 81 startup companies incubated by JLabs at Shanghai are international, including 12 from Korea. J&J also hosted a separate session at the roadshow for 12 participating companies.

“Korean life science startups have a significant advantage due to Korea’s advanced manufacturing capabilities. We hope Korean companies will embrace Singapore, a global hub for innovation and transition, as a launchpad for their global expansion,” said Jasmine Qiu, Assistant Director of Health & Biomedical Science at SGInnovate.

'Must Connect' is a roadshow organized by Must Accelerator to introduce Korean life science startups to major companies, hospitals, and investors in Singapore, where the Asia-Pacific offices of global pharmaceutical companies are concentrated.

It was held for the second time this year after last year. The Incheon Free Economic Zone (IFEZ), which has been supporting Korean life science startups, participated as a sponsoring organization.

"Korean life science startups are gaining increasing attention with each passing year,” observed Julia Lee, CEO of MUST Accelerator. "Given the enthusiastic response from attending companies and investors, we can expect to see concrete results emerge soon."

Many leading pharmaceutical companies have their APAC headquarters in Singapore and are actively seeking out promising life science startups in Asia. As a result, Korean startups are using the city-state as a bridgehead for international expansion. In 2010, Singapore's sovereign wealth fund, TEMASEK, made a groundbreaking investment in Korean drugmaker Celltrion.

About MUST Accelerator

MUST Accelerator is a startup accelerator with a mission to help early-stage startups grow infinitely. Since 2020, the company has operated the Shinhan Square Bridge Incheon program in partnership with Shinhan Financial Group, and in 2021, it was selected as a global partner of Google Startup Campus, expanding its global network. Since 2022, Must Accelerator has hosted the "Must Connect" event in Singapore. In 2023, the company launched the "Startup School Busan" program in Busan with the city of Busan and Google Startup Campus, in an effort to contribute to the development of the regional startup ecosystem. 

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VINCSS NAMED BEST IN CLASS APAC PASSWORDLESS AUTHENTICATION BY FROST & SULLIVAN

 
KUALA LUMPUR, Oct 9 (Bernama) -- VinCSS, ​​a subsidiary of Vingroup has been awarded the 2023 Asia Pacific (APAC) New Product Innovation Award by Frost & Sullivan, following a research of the passwordless authentication landscape.

Based in Ho Chi Minh City, Vietnam, VinCSS stands out as a pioneer in leveraging FIDO2 standards for passwordless authentication, focuses on providing cybersecurity solutions for information technology (IT), Internet of Things (IoT), and Automotive.

“We are continuously evolving, and this accolade is a testament to our dedication. We remain, as always, the industry's trusted partner,” said VinCSS Chief Executive Officer and Founder, Simon Trac Do in a statement.

Meanwhile, Frost & Sullivan global cybersecurity industry principal, Anh Tien Vu said VinCSS sets itself apart from many competitors with a unique and innovative approach enabling customers to deploy its products across different environments while competitors only focus on addressing identity security challenges for the workforce.

Specialising in IT security, identity and access management, IoT security, automotive cybersecurity, VinCSS is consistently breaking new ground and has evolved from a startup to a leader in innovative product development and diversification within the cybersecurity industry.

VinCSS offers comprehensive passwordless authentication solutions via its FIDO2 Ecosystem, strengthening cybersecurity and bringing a significant upgrade in authentication, helping businesses follow authentication rules while making their operations more efficient.

With full control over its product lineup, VinCSS offers competitive pricing in which this strategy solidifies its leading role in the passwordless authentication market.

Beyond being a respected name in cybersecurity, VinCSS is emerging as a prime investment opportunity. As it approaches its financial break-even point and launches its Series B funding round, the company presents significant growth prospects.

-- BERNAMA

SoftBank To Grow Global IoT Business In APAC

KUALA LUMPUR, Oct 4 (Bernama) -- SoftBank Corp announced it will launch a full-fledged expansion of its global Internet of Things (IoT) business in the Asia Pacific (APAC) region from October 2023.

SoftBank Senior Vice President responsible for the global business, Daichi Nozaki said: “While we have been providing IoT services primarily in Japan and contributing to the DX of various industries there, going forward we will collaborate with strong business partners like 1NCE and leverage our expertise gained in the Japan market to fully establish ourselves in APAC.”

According to a statement, in this sales expansion that spans 19 countries and regions, including Japan, SoftBank will focus on marketing IoT services, mainly the “1NCE IoT Flat Rate,” an affordable global IoT connectivity service from German company 1NCE GmbH, to enterprise customers.

SoftBank aims to acquire a total two million 1NCE IoT Flat Rate connections in APAC and other regions within the 2025 fiscal year, which ends on March 31, 2026.

In line with its “Beyond Carrier” growth strategy, SoftBank is expanding beyond its core telecommunications business to create new businesses in a wide range of industries, and it is promoting digital transformation (DX) across different industry sectors.

In the IoT business field, SoftBank took an equity stake in 1NCE GmbH in April 2022, and signed an agreement to exclusively market the company’s 1NCE IoT Flat Rate in 19 APAC markets.

The 1NCE IoT Flat Rate is available at a remarkably low price, and at no additional cost, customers can also roam on 1NCE's global network of more than 160 countries and regions, with the service’s convenience being well received by enterprise customers.

Leveraging its existing locations in APAC (comprising 22 locations in nine countries and regions), SoftBank will quadruple its IoT salesforce, launch a dedicated online IoT shop in partnership with 1NCE and strengthen advertising and other marketing initiatives in the region.

Utilising its IoT platform, SoftBank will also propose solutions related to smart meters and work to further expand its global IoT business, build a wide-ranging support framework to solve problems various industries are facing in their respective countries and regions.

Starting with its global IoT business, SoftBank will take measures to expand its global business, primarily in the APAC region, and promote its “Beyond Japan” initiative.

-- BERNAMA

Hai Robotics’ Innovations Address Storage Density, Performance Issues

 

Photo of HaiPick A42T-E2 (Photo: Business Wire)

KUALA LUMPUR, Oct 2 (Bernama) -- Hai Robotics (Hai), a pioneer and leader in Autonomous Case-handling Robot (ACR) Systems, has launched the world's first telescopic Grapple Hook ACR, the HaiPick A42T-E2 and the HaiPick System 3.

According to a statement, the two new innovations address customer concerns around increasing storage density and performance at a smaller warehouse footprint.

The telescopic Grapple Hook ACR can be integrated within HaiPick System 3, creating a nexus that facilitates higher performance while delivering enhanced storage density.

“We are thrilled with the launch of the HaiPick A42T-E2. This project encapsulates our commitment to providing intelligent, flexible and efficient solutions for the modern warehousing industry, while keeping in mind the growing and dynamic needs of this market on a global scale.

“HaiPick System 3 is a high-performance and agile solution that scales alongside businesses to better achieve instantaneous customer satisfaction,” said Hai Robotics EMEA General Manager, Peter Guan.

Equipped with ChainPick technology, the HaiPick A42T-E2 features a grappling hook with a picking speed of 2.7 seconds, quickly pulling totes one after another.

Such ChainPick technology is key to enabling up to five-deep tote storage capacity, allowing shorter picking and placing time to further streamline the goods-to-person workflow.

Meanwhile, the HaiPick System 3 is the latest solution in the company’s portfolio, enabling ultra-high storage density and increasing worker efficiency up to six times.

Hai Robotics is committed to providing flexible, intelligent, and efficient warehouse automation solutions through robotics technology and artificial intelligence algorithms.

-- BERNAMA