KUALA LUMPUR, Sept 28 -- AKWEL, the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has published its 2020 half-yearly results.
According to a statement, the results show AKWEL’s net earnings at €20.2 million. (€1 = RM4.839) In the first half of 2020, AKWEL posted a consolidated turnover of €387 million, down by 31.7 per cent when comparing published figures and by 31 per cent when taking exchange rates and scope as constants. The current operating income was down by 48.2 per cent in the first half year, at €24.3 million. Against this backdrop of an exceptional crisis in the world automotive market and with only limited provision of public aid, the robustness of AKWEL’S business model and speed at which it is able to adapt enabled it to achieve positive results. The reduction in working capital requirements in addition to the adaptation of the investment margins made it possible to generate a free cash flow of €51.5 million in the first half of 2020. On June 30, the Group had a positive net cash position of €7.7 million, with €157.8 million of available cash. The upturn in activity seen at the beginning 2020 has continued for AKWEL, with a cumulative turnover achieved in July and August of €153.5 million, with the fall being limited to 4.6 per cent compared to the comparable months of 2019. The Group is continuing to invest in order to meet new market requirements as a priority, particularly in clean vehicles and new hybrid, electrical or hydrogen engine systems. -- BERNAMA
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KUALA LUMPUR, Sept 29 -- Toshiba Electronic Devices & Storage Corporation (Toshiba) has added ‘TC75S102F’ a new CMOS operational amplifier featuring industry-leading ultra-low current consumption to its lineup. Operational amplifiers boost weak signals from sensor, and to support longer use between charges of battery-operated equipment, including IoT edge devices and mobile devices, they must also deliver lower current consumption. Toshiba has used its CMOS process technology to optimise the circuitry of the new operational amplifier and lowered its power consumption by securing industry-leading low current consumption. With a minimum supply voltage of 1.5V, the new device is a full-range input/output (Rail-to-Rail input/output) operational amplifier that offers higher performance than its predecessor, according to a statement. More details at https://toshiba.semicon-storage.com/ap-en/top.html. -- BERNAMA NEW YORK, Sept 30 (Bernama-BUSINESS WIRE) -- Six One Commodities LLC (61C) today announced that it is expanding its power and gas business to Europe with the addition of a power team out of Berlin lead by Ingo Klause. Mr. Klause has over 20 years of experience in the CWE region for power trading. He worked for the Swedish utility Vattenfall acting as a lead trader and head of cross border trading and built successful trading strategies together with his team. Six One Commodities US LLC (EU Trading) is an affiliate of Six One Commodities Global LLC and will be based in Berlin.
“The team is well positioned to help 61C expand into Europe,” said Mr. Klause. “A rapidly changing supply side will require strong analytical skills to navigate the implications for generation margins and location and time spreads across individual national power markets. Building, maintaining, and adjusting a comprehensive model will be critical when trying to capture these fundamental price shifts, and we are the team that can provide that capability.” Earlier in the year, 61C launched its LNG business in Asia to meet the region’s needs. It has hired an LNG team out of Singapore lead by Delia Proteasa. “With the hiring of Delia, Ingo, and their teams, 61C is well positioned to become a premier globally integrated energy company,” said Ben Sutton, CEO of 61C. “With their complimentary backgrounds, Delia and Ingo will focus on advancing our position of becoming a market-leading franchise at this critical stage in the commodity cycle. 61C has grown its power and gas business in the U.S. for the past two years. I think there is a strong opportunity for LNG volumes to grow in Asia and throughout the globe and for us to grow our power and gas business in Europe. I can’t think of a better opportunity than right now to expand our business into Asia and Europe.” ABOUT SIX ONE COMMODITIES LLC In August of 2018, Pinnacle Asset Management, L.P. and affiliated investment entities (Pinnacle), a leading commodities and natural resources investment organization, partnered with Benjamin Sutton, who had served as Head of North American Gas and Power at Noble Americas Gas & Power Corp., to form 61C. 61C is a global natural gas and power merchant headquartered in Stamford, CT. 61C is led by key members of the former leadership team of Noble North American Gas and Power (NAGP) – a former leading natural gas and power merchant. The 61C team has a demonstrated track record of unique market insight, strong client relationships, robust returns, and disciplined risk management to execute on opportunities with the gas and power merchanting space. ABOUT PINNACLE ASSET MANAGEMENT, L.P. Founded in 2003, Pinnacle Asset Management, L.P. is a private, New York-based alternative asset management firm focused on the global commodities’ markets with approximately $2.9 billion under management. Pinnacle provides its institutional investor clientele with exposure to the global commodities markets via physical and financial absolute return funds, strategies and products. Pinnacle is registered as an investment adviser with the Securities and Exchange Commission, is registered as a commodity trading adviser and a commodity pool operator with the Commodity Futures Trading Commission and is a member of the National Futures Association. View source version on businesswire.com: https://www.businesswire.com/news/home/20200929005991/en/ Contact Joseph Limone (203) 409-2329 [email protected] Source : Six One Commodities LLC KUALA LUMPUR, Sept 29 -- Mavenir, a leading provider of end-to-end cloud-native Network Software Provider for Communications Service Providers (CSPs) has acquired ip.access Ltd, a leading 2G, 3G, 4G and 5G-ready small cell solutions provider.
According to a statement, this acquisition extends Mavenir’s leadership in OpenRAN radio on three fronts. They are Communication Service Providers which entails 2G and 3G capabilities to the OpenRAN portfolio; Enterprise which adding a full suite of enterprise radio solutions for Mavenir’s Private Network offerings; and, Nontraditional Networks which leverage market leading software defined vRAN solutions for Aviation, Maritime, Rural and Remote networks with next generation solutions in the air, on land and at sea. “Operators are looking to transform their 2G/3G networks as they migrate to 4G and 5G,” said Mavenir President and Chief Executive Officer, Pardeep Kohli. “We expect to provide a seamless, multi radio access technology single RAN offering for those operators that allows them to have the benefits of advanced radio solutions across all layers.” ip.access will operate as a business unit within Mavenir’s Emerging Business group and is expected to develop strong synergies with Mavenir’s OpenRAN, Cloud Core, Edge, and Analytics suites for compelling end-to-end network propositions for both the CSP and Enterprise/Industry segments. ip.access brings its proven track record with over 50 live networks deployed globally with CSPs, and hundreds of private networks for industry, critical infrastructures, data monetisation, security and surveillance. Details at www.mavenir.com. -- BERNAMA KUALA LUMPUR, Sept 28 -- Yili Group chairman and president, Pan Gang recently demonstrated support for the Statement from Business Leaders for Renewed Global Cooperation. According to a statement, the pledge was presented to United Nations (UN) Secretary-General Antonio Guterres by Sanda Ojiambo, the Chief Executive Officer (CEO) & Executive Director of the UN Global Compact. Pan was invited as food industry entrepreneurs representative, along with over 200 CEOs of major global companies including Johnson & Johnson, Microsoft and Deloitte Global. In conjunction with the UN's 75th anniversary, they support the UN call to jointly lead the world onto a more equitable, inclusive and sustainable path of development and to ‘unite in the business for a better world’. Pan believes that cooperation for mutual benefit makes all parties stronger winners. And this is what Yili has been promoting all along. Yili Group takes the initiative to implement the UN Sustainable Development Goals, promote indepth cooperation with global partners to jointly build a ‘global health ecosystem’ and endorse sustainable development with specific programmes. In line with that, Yili will launch the ‘Global Health ecosystem Joint Initiative’ with its global partners DuPont, Chr Hansen, GEA and Roquette at the World Economic Forum's Annual Meeting. -- BERNAMA Rendition of Hotel Nikko Changshu (Graphic: Business Wire) Will be the fifth property of Okura Nikko Hotels in Jiangsu Province, aimed at boosting the company’s presence in China TOKYO, Sept 29 (Bernama-BUSINESS WIRE) -- Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura Co., Ltd., announced today that it will open Hotel Nikko Changshu in 2023. The hotel will be located at Changshu National New & Hi-Tech Zone in Changshu city, one of the county-level cities in the Suzhou of southeastern Jiangsu Province. The company has contracted with Changshu Kuncheng Development Investment Co., Ltd. to manage the new property through its joint venture BTG Nikko International Hotel Management Co., Ltd. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200928005791/en/ The Hotel Nikko Changshu will offer 288 guest rooms, each with a standard area of about 40 m², including 14 suite rooms, on 22 floors above ground and two underground floors. It will also feature a full range of facilities, including a Japanese teppanyaki restaurant, a Chinese restaurant, all-day dining and banqueting facilities, as well as a fitness center and indoor pool. Located to the west of Shanghai and adjacent to major cities such as Wuxi and Nantong, Changshu is a market town and trading post that has prospered since ancient times thanks to the fertile land that surrounds it. The city has recently focused on attracting foreign companies, in particular Japanese companies, and the research and production bases of many of the world's top 500 companies, including those in the automotive sector, have moved there. The Changshu National New & Hi-Tech Zone is located about 6 km south of the center of Changshu, an area where the Changshu Municipal Government is focusing its development efforts, and which is expected to become the driving force of Changshu's economy. The area around the new hotel is being developed into a hub featuring business and research facilities, schools and residences, with office buildings currently being added. Toshihiro Ogita, President, Okura Nikko Hotel Management Co., Ltd., commented, “It is a big honor for us to be able to open yet another hotel in Jiangsu Province in China, as we continue to expand our global network with a particular focus on Asia. We hope to hereby further raise awareness of our Okura Nikko Hotels brand in China.” Hotel Nikko Changshu will be the fifth property of Okura Nikko Hotels to open in Jiangsu Province in China, following the opening of Hotel Nikko Wuxi (2010), Suzhou Qingshan Hotel (2010), Hotel Nikko Suzhou (2015) and Hotel Nikko Taizhou (2016). Overview of Hotel Nikko Changshu Location: South of Yijia North Road and East of Yijia West Road Total floor space above ground: around 30,500 square meters Layout: 22 floors and 2 underground floors Number of guest rooms: 288 Restaurants: Japanese teppanyaki, Chinese, All-day Dining, Lobby Lounge Banquet & conference facilities: 1 banquet hall, 5 conference rooms Facilities: Fitness center, indoor pool and others Access: About 90 minutes by car from Shanghai Hongqiao International Airport or Shanghai Hongqiao Railway Station / about 50 minutes by car from Suzhou North Railway Station About Changshu Kuncheng Development Investment Co., Ltd. The company was founded in 2016 by Kuncheng Lake Develop Construction., Ltd. which was established and funded by the Changshu Municipal Government. It is mainly engaged in real estate development investment and property management. In recent years, the company has been involved in the development of the AEON Mall in Changshu and has also been growing its business by focusing on residential development. About Hotel Okura Co., Ltd. and Okura Nikko Hotel Management Co., Ltd. Hotel Okura Co., Ltd., founded in 1958, opened its flagship Hotel Okura Tokyo in 1962 as a first-class hotel that quickly became renowned worldwide for its blending of traditional Japanese beauty with the very best in accommodation, cuisine and service. It closed its doors in August 2015, and after four years of rebuilding work reopened as The Okura Tokyo in September 2019. Hotel Okura has extensive expertise in the hospitality world, including asset ownership and hotel development, as well as hotel management, the restaurant business and chain operations through its subsidiaries and other group companies. The brand unites member hotels under its “Best Accommodation, Cuisine and Service” philosophy to ensure that all guests enjoy Okura’s signature hospitality, which combines Japanese attention to detail and Western functionality. Please visit www.okura.com Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura, operates 78 properties (52 in Japan and 26 overseas) encompassing some 24,350 guest rooms (as of September 1, 2020) under three hotel groups: Okura Hotels & Resorts, Nikko Hotels International and Hotel JAL City. Please visit www.okura-nikko.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20200928005791/en/ Contact Media Contacts Ms. Ikuko Arai or Mr. Ryutaro Suzuki Public Relations Okura Nikko Hotel Management Co., Ltd. Tel: +81 (0)3 6685 8995 E-mail: [email protected] Source : Okura Nikko Hotel Management Co., Ltd. SHENYANG MIDDLE STREET, A 400-YEAR-OLD COMMERCIAL PEDESTRIAN STREET IN CHINA, MAKES A NEW APPEARANCE29/9/2020
TAIPEI, Taiwan, Sept 28 (Bernama-BUSINESS WIRE) -- The impacts of the recent COVID-19 pandemic on global trade and our daily lives have led to an acceleration of technological innovations in different sectors. At the same time, our society is transitioning from the era of Big Data towards Hyper Digitization. To help industries prepare for these trends and navigate the post-pandemic world, this year’s Taiwan Innotech Expo (TIE 2020) highlights the latest smart living technologies that can spark new imaginations. Since its transformation into a global trade show, the TIE continues to draw international attention to Taiwan’s strength in R&D and innovation. This year’s event will showcase how Taiwan stays resilient in the face of a global crisis.
Blueprints for a better world can be found in the three thematic pavilions Scheduled to be held at Hall 1 of the Taipei World Trade Center (TWTC) from September 24 to 26, the TIE 2020 is jointly curated by the following 10 government bodies: the Ministry of Economic Affairs (MOEA), the Ministry of Science and Technology (MOST), the Ministry of Education (MOE), the Ministry of National Defense, the Ministry of Health and Welfare (MOHW), the Ministry of Labor, the Council of Agriculture, the National Development Council, the Environmental Protection Administration, and Academia Sinica. With “Resilient Taiwan, Smarter Future” as the overarching concept, the event organizers have built three thematic pavilions: Pioneering Inventions, Future Technologies, and Sustainable Development. More than 1,000 products, concepts, and patented technologies will be on display during the three-day trade show. Exhibitions, keynote presentations, and seminars will be live-streamed for international audiences. Guided thematic tours of the exhibitions will take place both physically and online. Other parts of the event such as intellectual property (IP) consultations and one-on-one meetings with suppliers will also be remotely accessible via the Internet. The TIE has been demonstrating the R&D strength of Taiwan’s private enterprises, government agencies, academic institutions, and research entities. Taking advantage of its position in the region and its local capability for innovation, Taiwan is pursuing a New Southbound Policy and deepening its ties with the US, Europe, and Japan. The long-term goal is to turn the island to an international IP hub and promote home-grown technologies. The Pioneering Inventions pavilion heralds the arrival of Hyper Digitization The Pioneering Inventions pavilion will be displaying 105 technological solutions that could be adopted by industries within the next five years. The pavilion is divided into four subsections: hyper-automation, the Internet of Everything, physical-virtual integration, and new healthcare technologies. The solutions shown here are presented in a way that highlights their respective roles in the fields of national defense, disaster prevention, future mobility, and epidemic response. Additionally, the pavilion features immersive exhibitions on service robots, interactive VR experience, smart gym, etc. The Sustainability Development pavilion offers an exploration of humanity’s future In keeping with the principle of the 4Rs (redesign, recovery, reduce, and reuse/recycle), the exhibitions at the Sustainability Development pavilion will be showing technologies that may be used to build green homes in the next 20 years. This year’s TIE wants to present a technological ecology that helps realize a circular economy. To that end, exhibitions here reflect the following four topics that will increasingly affect our lives in the future: modern agriculture, green energy technologies, circular economy, and workplace safety. Furthermore, TIE has invited members of the European agricultural sector to share their technologies and professional experience at the Sustainable Development pavilion. They will also attend seminars to discuss joint marketing initiatives and strategic cooperation. The Future Technologies pavilion opens a new horizon in R&D Technological advances have a major influence on how we live in the future and can shape the world in ways that we have never imagined. Hence, the Future Technologies pavilion will be showing R&D results that could set the directions of the technology sectors in the next 3-10 years. In curating this pavilion, the MOST has amassed considerable resources and invited Academic Sinica, the MOE, and MOHW to assist in its efforts. Exhibits are centered on precision healthcare, optoelectronics, new materials, AI, and AIoT. They emphasize Taiwan’s advantages in the development of leading-edge technologies and their innovative applications. As part of the COVID-19 response, many of the displays here will be made viewable online. The International Section breaks new grounds for the expo The pandemic has led to the cancellation and postponement of trade shows around the world, but this is not the case for TIE 2020. The event will gather 69 exhibitors from 18 countries, including Corning, Cisco, Microsoft, Logitech, Siemens, Nissan, and the National Science and Technology Development Agency of Thailand. These international exhibitors will be displaying 123 technological solutions related to information security, Industry 4.0, robotics, biotechnology, energy, and agriculture. Don’t miss IPBC Taiwan that will be held during the event The Industry Development Bureau under the MOEA and the Industrial Technology Research Institute have joined forces with IAM (Intellectual Asset Management) to hold a virtual forum IPBC Taiwan in the morning of September 25. This forum will be themed with the value of intangible assets and technology transfers. Hitachi, Uber, and MediaTek are among the global IP leaders that will be joining the online discussions and sharing their strategies. The forum will be broadcasted within the venue of the TIE 2020, on the main stage in Area C of TWTC Hall 1 and can be followed through live stream. All are welcomed to participate. Event Details Taiwan Innotech Expo Date: Thursday, September 24th to Saturday, September 26th, 2020 Venue: Taipei World Trade Center Exhibition Hall 1, Ground Level Website: https://tie.twtm.com.tw/ View source version on businesswire.com: https://www.businesswire.com/news/home/20200923005488/en/ Contact Media Ms. Mavis Chuang Tel: 886-03-591-7862 [email protected] Source : Taiwan Innotech Expo HONG KONG, Sept 28 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of Taiping Reinsurance Company Limited (TPRe) (Hong Kong) and its wholly owned subsidiary, Taiping Reinsurance (China) Company Ltd. (TPRe China) (China). The outlook of these Credit Ratings (ratings) is stable.
The ratings of TPRe reflect its balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also acknowledge the continued implicit and explicit support given by TPRe’s parent company, China Taiping Insurance Holdings Company Limited (CTIH), in terms of capital, investment, risk oversight and shared operational resources. On 27 August 2020, TPRe entered into an agreement with Ageas Insurance International N.V. (Ageas), in which Ageas agreed to subscribe to additional shares issued by TPRe with cash. TPRe’s paid-in capital is expected to grow by HKD 3.1 billion, with Ageas accounting for approximately 25% of the increased capital. AM Best views the raised proceeds to materially boost TPRe’s capital and strengthen its underwriting capacity to support ongoing business expansion. AM Best also believes CTIH will maintain its controlling shareholding status in TPRe for the foreseeable future, and will continue to render capital and financial support to TPRe in a timely manner when necessary. TPRe’s risk-adjusted capitalisation remained at the strongest level as of year-end 2019, as measured by Best’s Capital Adequacy Ratio (BCAR). The capital and surplus has grown at an average rate of 15.1% per annum over the past five years, mainly driven by capital injections from CTIH and the partial retention of operating profits. Other supportive factors to its balance sheet strength include strong liquidity and prudent retrocession programmes. TPRe has delivered consistently profitable operating earnings over the past five years, mainly attributed to positive underwriting results and favourable investment performance. The five-year average return on equity was 6.5% (2015-2019). Asia remains the company’s core focus, while the company continues to diversify its geographical coverage and product scope in the life and non-life segments. With the introduction of Ageas as a strategic investor, TPRe will benefit from additional support in overseas market expansion, particularly in Europe and a few target Asian markets. The ratings of TPRe China reflect its strategic importance to TPRe, as well as its high level of integration with, and the explicit support it receives from TPRe. The subsidiary has delivered robust non-life premium growth over the past five years, and had commenced assuming life reinsurance business in 2019. Going forward, AM Best expects TPRe China to remain a key contributor to TPRe’s consolidated financials. Offsetting rating factors include the diminishing underwriting margin in the non-life portfolio owing to natural catastrophe losses and the continued intense market competition, and the persistently low interest rate environment, which poses challenges to the asset and liability management of TPRe’s fast growing life reinsurance book. The company’s investment portfolio also is subject to some concentration risk from mutual funds and corporate bonds issued by financial institutions. Furthermore, fluctuations in foreign exchange have given rise to volatility in net profits over the past few years. The company is well-positioned at the current rating level. Negative rating actions could occur if there is a material deteriorating trend in operating performance such that it no longer supports the current adequate assessment, or if there is a material decline in the company’s risk-adjusted capitalisation. Negative rating actions also could occur if there is a material deterioration in CTIH’s credit profile or if CTIH reduces the level of support it provides to TPRe. 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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on businesswire.com: https://www.businesswire.com/news/home/20200925005332/en/ Contact KUALA LUMPUR, Sept 25 -- Systems software development company, Phoenix Software International Inc, today released an update to its web and desktop-based data entry software suite, Entrypoint.
The new release, Entrypoint 16.1 includes an optional software development kit (SDK), allowing developers to extend the core functionality of Entrypoint using the Java platform to integrate new and existing applications with an Entrypoint Server through direct network client connections and plug-in extension components. “While the built-in functionality of Entrypoint is extremely flexible and robust, putting development tools in the hands of our customers enables the software to be truly adaptable to, and tightly integrated with, existing processes and IT infrastructure,” said Phoenix Software International Entrypoint Product Manager, Brien Wienke. Also new in this release is the ability to use re-key verify, a proven technique for improving data accuracy, through the web-based interface, for which the feature was previously only available in the desktop data entry client. The Entrypoint SDK is an optional add-on to Entrypoint that enables the development of five basic project types such as, Entrypoint Clients, Batch Exporters, Report Generators, WS-API Call Handlers and EntrypointScript API Extension Objects. The SDK documentation contains step-by-step instructions for creating, deploying and executing each type of project, according to a statement. More details at https://www.phoenixsoftware.com. -- BERNAMA |
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