UEM SUNRISE HOSTS FIRST-EVER BUILDING INFORMATION MODELLING (BIM) STRATEGY DAY WITH OTHER INDUSTRY PLAYERS

^{The group posing at the UEM Sunrise Berhad Corporate BIM Strategy Day (“BSD") event}

Digital Media: UEM Sunrise Berhad (“UEM Sunrise”), one of Malaysia’s leading property developers, in conjunction with its Digital Revolution initiatives, hosted its first-ever UEM Sunrise Berhad Corporate BIM Strategy Day (“BSD") on 11 September 2019 at BlackBox, Solaris Dutamas. What made the UEM Sunrise BSD unique was the fact that this was the first BIM event of its kind by a property developer to feature other industry players in sharing knowledge and experiences in BIM adoption. The event was well-received by UEM Sunrise staff and staff from various disciplines within the construction industry, with close to 300 participants in attendance.


KUALA LUMPUR, Sept 27 (Bernama) -- UEM Sunrise Berhad (“UEM Sunrise”), one of Malaysia’s leading property developers, in conjunction with its Digital Revolution initiatives, hosted its first-ever UEM Sunrise Berhad Corporate BIM Strategy Day (“BSD”) on 11 September 2019 at BlackBox, Solaris Dutamas.

What made the UEM Sunrise BSD unique was the fact that this was the first BIM event of its kind by a property developer to feature other industry players in sharing knowledge and experiences in BIM adoption. The event was well-received by UEM Sunrise staff and other developers, consultants, contractors and suppliers, with close to 300 participants in attendance.

The event started with welcoming remarks by UEM Sunrise’s Anwar Syahrin Abdul Ajib, Managing Director / Chief Executive Officer, followed by a keynote address by Zulkifly Garib, Director –   Central 1 of UEM Sunrise in the presence of Zulfa Ashida Zulkifli, Chief People Officer of UEM Sunrise and the Guest of Honour, Rofizlan Ahmad, Chief Executive Officer of CIDB E-Construct Services Sdn Bhd. This was followed by guest speakers from AECOM, RSP Architects, VERITAS Architects, IJM Construction, Sunway Construction, and Chin Hin Group sharing their knowledge and experience on BIM adoption, value-add, lessons learnt, challenges, and the way forward for BIM in the property industry.

The UEM Sunrise BSD was held to re-introduce BIM to UEMS Staff and  BIM implementation experiences, successes, and lessons learnt from other industry players. At UEM Sunrise, BIM has been adopted since 2017 and has currently been made mandatory for all its high-rise projects. To date, seven on-going UEM Sunrise projects are adopting BIM in its processes.

The UEM Sunrise BSD achieved its objectives as participants were involved in an energetic Q&A session with all the speakers with many strong opinions, thoughts, and ideas being shared on the advantages of embracing BIM, overcoming the challenges in BIM implementation, tangible cost savings from implementing BIM, and more.

The UEM Sunrise BIM Unit confirmed that with BIM, they have learnt to be more collaborative and open as they believe that the industry should be as open and collaborative as well for the betterment and growth of BIM adoption rates in the industry.

The Government, through the Construction Industry Development Board, have started promoting BIM since 2016 under the Construction Industry Transformation Programme (CITP) which includes initiatives in educating, providing facilities, introducing a learning syllabus, and mandating requirements for the industry in BIM adoption. It has been reported that by 2021, all city status local authorities will require BIM e-submissions through the National BIM e-Submission (NBeS) platform by its principal submitting person (PSP).

Lai Sook Fun, Head of Product Development at UEM Sunrise, delivered her closing remarks by expressing her appreciation for the collective efforts of all parties in making the UEM Sunrise BSD a success and hoped that everyone learned and took back impactful lessons on BIM, in terms of knowledge and discovery – however big or small – in uplifting the industry through BIM as a platform to promote open and collaborative work practices across all disciplines. 

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EXR offers Libra alternative, trade war protection

KUALA LUMPUR, Sept 27 -- The EXR Foundation, a global Fintech group registered in Singapore, recently announced stable-value digital asset, EXR, which offers Libra alternative and trade-war protection.

It will be created alongside Bitcoin, Facebook’s Libra and the Peoples’ Bank of China’s incoming stable asset for domestic use in China, according to a statement.

The EXR digital asset appears to have taken the best lessons learned from Libra, Bitcoin and the history of the United States Dollar and Pound Sterling, to make for a strong contender to become a global stable currency.

The EXR Foundation will seek to offer a safe-haven alternative for businesses that seek improved information security, easier cross-border trading and better access to international markets.

EXR is proposed to consist of a basket of leading fiat currencies, equal-weighted and collectively valued at US$1 per token at its date of inception. (US$1 = RM4.19)

More information at https://www.exr.org.

-- BERNAMA

'Japan Media Arts Distributed Museum' exhibition ends today at Tokyo´s Haneda Airport

KUALA LUMPUR, Sept 27 -- A series of exhibitions staged by the Agency for Cultural Affairs comes to a close today, in the ‘Japan Media Arts Distributed Museum’ at Tokyo’s Haneda Airport.

The series which began on Sept 11, is aimed at demonstrating media arts or Japanese cultures in 10 airports and other institutions.

The Haneda event ties in with another exhibition under way at the airport involving the National Museum of Japanese History, according to a statement from the Japan Media Arts Distributed Museum Office.

This event at the airport follows the first exhibition, which was held at New Chitose Airport near Sapporo in northern Japan.

The exhibition features an installation developed by the AR3Bros., a trio of Japanese augmented reality creators, with the motifs of artworks ‘Edo Scenes Folding Screens’ and ‘Edobashi Hirokoji (Edo Bridge Grand Avenue) Diorama’.

These works portraying the feudal period of Edo (old Tokyo), are owned by the National Museum of Japanese History. More information at https://jmadm.jp/en.

-- BERNAMA

AVIS BUDGET GROUP NAMES AVIS CAR RENTAL AND BUDGET CAR RENTAL LICENSEES OF THE YEAR

LONDON, Sept 27 (Bernama-GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) has announced its Avis Car Rental and Budget Car Rental Licensees of the Year for the International Region, which includes, Europe, the Middle East, Africa, Asia and Asia-Pacific. This year’s recipients of the annual awards are Avis Turkey and Budget Romania. Each honoree accepted the accolade at a celebratory event held in Lisbon, Portugal.

The annual Avis Budget Group International Licensee Awards recognize licensee partners that have demonstrated growth in annual financial performance, measured against their respective country’s economic conditions, excellence in customer service and alignment with the brand’s initiatives.

Keith Rankin, President, International at Avis Budget Group said: “I’m delighted to announce our Licensee Award winners, Avis Turkey and Budget Romania. Both winners have invested in their businesses, delivered strong growth and consistently generated high levels of customer satisfaction. As a global mobility company, with a presence in approximately 180 countries, we rely on the expertise and professionalism which our licensees offer Avis and Budget customers in their markets. These awards are to celebrate and recognize their hard work, passion and dedication.”

Avis Car Rental in Turkey has driven growth in market despite challenging economic circumstances, that continue today. In this difficult environment, Avis Turkey focused on revenue management and revenue generation, whilst investing in the ancillary sales area of the business. As a result, Avis Turkey has not only maintained its number one market share position, but also grown the business by more than 22 percent, whilst keeping consistently high customer service scores, showing determination and spirit in the face of adversity.

Budget Romania is accepting this award after a very successful year, which has seen a revenue growth of 19 percent and a fleet size growth of more than 10 percent. Whilst investing in the brand, marketing and its rental locations, the country can celebrate a 10 percent increase in its customer service score over the prior year, providing quality vehicles at great value prices.

Contact: Laura Watts
+44(0) 7342 075 430 
laura.watts@abg.com

About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world’s leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 30,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com.

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RESECURITY EXPERTS TO ATTEND GOVWARE 2019 IN SINGAPORE

Cybersecurity Company Specializing in Deep and Dark Web Analysis Continues to Grow Global Reputation

LOS ANGELES, Sept 27 (Bernama-BUSINESS WIRE) -- Resecurity, a cybersecurity company that delivers in-depth analysis layered on top of the most comprehensive, exclusive sets of data from the Deep and Dark Web, announces that its CEO, Gene Yoo, will be attending GovWare 2019 next week in Singapore. Resecurity will be hosting Booth D13 and is also a gold sponsor of the event.

Resecurity continues to expand its reach and reputation globally with customers and services now offered worldwide including in Europe, Middle East, North Africa, Asia and Latin America. Resecurity’s Context™, a cyber threat intelligence platform for enterprises and government agencies, delivers cyber threat intelligence harvested from millions of data points combined with data science, allowing for actionable insights. Resecurity’s Risk™ solution calculates a daily security score based upon a summary of all risks for a company’s monitored domains, IP, network, vulnerabilities and cloud services.

WHAT: GovWare 2019
WHEN: October 1-3, 2019
WHO: Gene Yoo, CEO, Resecurity
WHERE: Booth D13, Suntec Singapore Convention & Exhibition Centre

In addition to GovWare next week, Resecurity will also be participating in the following global cybersecurity events this year:
● Cyber Summit, October 17 2019, Scottsdale, AZ
● MILIPOL Paris, November 19-22 2019, Paris, France (Stand 4 G 068)
● Infosecurity Summit, November 20-21 2019, New York, NY
● Amazon re:Invent, December 2-6 2019, Las Vegas, NV (Booth 1235)

ABOUT RESECURITY

Today, it’s not enough to know what’s happening IN your network. Organizations must have situational intelligence as to what’s happening outside their environment. Headquartered in Los Angeles, CA, Resecurity is a cybersecurity company that delivers in-depth analysis layered on top of the most comprehensive, exclusive sets of data from the Deep and Dark Web. Based on years of experience and our current work with international governments and law enforcement agencies, Resecurity’s Hunter Unit™ pulls and analyzes the best data, and delivers it in the most actionable format. For more information visit www.resecurity.com or follow us on Twitter or LinkedIn.

http://mrem.bernama.com/viewsm.php?idm=35623

TOSHIBA MEMORY CORPORATION LAUNCHES NEW NAND FLASH MEMORY PRODUCTS FOR EMBEDDED APPLICATIONS SUPPORTING HIGH-SPEED DATA TRANSFERS

Second-generation Serial Interface NAND products with increased performance and capacity added to line-up

TOKYO, Sept 26 (Bernama-BUSINESS WIRE) -- Toshiba Memory Corporation, the world leader in memory solutions, today announced that it has launched its second-generation line-up of NAND flash memory products for embedded applications with increased performance and capacity[1] to support high-speed data transfers. The new Serial Interface NAND products are compatible with the widely used Serial Peripheral Interface (SPI) and are suited for a wide range of consumer, industrial and communication applications. Sample shipments start today with mass production scheduled to begin from October onwards.

With the devices getting smaller in IoT and communication applications, demand for large capacity flash memory in small packages that can handle high-speed data transfers with low pin count is increasing. Due to its compatibility with the widely used SPI, the Serial Interface NAND products can be utilized as SLC NAND flash memory products with a low pin count, small package and large capacity.

In order to support high-speed data transfers, the new second-generation Serial Interface NAND products offer improved performance compared to existing first-generation products[1], including 133 megahertz (MHz) operating frequency and program x4 mode. Furthermore, an 8 gigabit (1 gigabyte) [2] device has been added to the line-up to respond to demands for larger memory capacity.

http://mrem.bernama.com/viewsm.php?idm=35604

BRANDSTARS announces final winning selections for 2019 Korean luxury brands

KUALA LUMPUR, Sept 26 -- BRANDSTARS Selection Committee has announced the final winning selections for 2019 Korean luxury brands.

This year's newly selected brands include LG Pra.L (at-home beauty device category); Charmzone and MANYOFACTORY (cosmetics category) and MIDM Jen'y 3D Motion (skincare device category).

Meanwhile, the brands selected for two consecutive years include Amorepacific Sulwhasoo, LG Household and Health Care's The History of Whoo and Nature Republic in the cosmetics category.

Also listed are Korea Ginseng Corporation's CheongKwanJang (health food category); LG Electronic PuriCare (air purifier category), Huggies (disposable diaper category); Buldak Ramen (Ramen category); and Gentle Monster (sunglasses category), among others.

LG Pra.L was named for its proven safety and efficacy based on the LG Electronics' outstanding hardware manufacturing technology, while Charmzone was selected for its continuous investments in technology.

BRANDSTARS Selection Committee is a professional organisation composed of experts from the media and industries. It categorises the most loved brands in Korea, China and Southeast Asia by categories and announces the brands’ overall evaluation throughout the Asia region.

More information at http://brandstars.co.kr.

-- BERNAMA

SIGNING CEREMONY OF MANULIFE MALAYSIA AND RISE FINCOM ADVISORY

KUALA LUMPUR, Sept 25 (Bernama) -- Manulife Insurance Berhad held a signing ceremony to officiate its partnership with Rise FinCom Advisory (Rise Advisory) on 23 September 2019, Menara Manulife. This move is in tandem with the company’s aspiration to grow its number of agency partners and double the company’s market share by 2021.

Rise Advisory, founded in May 2019, aspires to provide comprehensive financial planning services through the advancement of technology and data which will be used to design simpler products that better serve people’s needs. All these, while providing a full range of financial services including training and building technology capabilities for agents’ ease-ofwork and educating customers.

Inspired by the true-life medical cases, Rise Advisory aims to be the touchstone in shaping the insurance landscape through Critical Illness Fund (CIF). The goal is for every Malaysian to be fully prepared should the unforeseen happen.

About Manulife Malaysia
Manulife Holdings Berhad is part of Canada-based Manulife Financial Corporation. Through its subsidiary companies, Manulife Malaysia offers an innovative range of financial protection, health and wealth management products and services to meet different customer needs. Manulife Malaysia currently serves the needs of over 260,000 policyholders and wealth management customers. Manulife Holdings Berhad has been listed on the Main Board of Bursa Malaysia since 1984. As at 30 June 2019, its assets under management were RM11 billion. Manulife Malaysia can be found on the Internet at www.manulife.com.my.

About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2018, we had more than 34,000 employees, over 82,000 agents, and thousands of distribution partners, serving almost 28 million customers. As of June 30, 2019, we had over $1.1 trillion (US$877 billion) in assets under management and administration, and in the previous 12 months we made $29.4 billion in payments to our customers. Our principal operations in Asia, Canada and the United States are where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

http://mrem.bernama.com/viewsm.php?idm=35601

ALIGN TECHNOLOGY FURTHER ADVANCES DIGITAL DENTISTRY IN CHINA WITH THE LAUNCH OF THE ITERO ELEMENT 2 SCANNER

ALIGN TECHNOLOGY FURTHER ADVANCES DIGITAL DENTISTRY IN CHINA WITH THE LAUNCH OF THE ITERO ELEMENT 2 SCANNER

Teledyne Lumenera´s INFINITY ANALYZE 7 microscopy software released

KUALA LUMPUR, Sept 25 -- Teledyne Lumenera has released its new INFINITY ANALYZE 7 microscopy software, allowing the production of high-quality images with accuracy and reproducibility in brightfield or fluorescence modes.

Teledyne Lumenera is a Teledyne Technologies company, and manufacturer and developer of high-performance digital cameras and custom imaging solutions.

The next generation software supports the complete line of Teledyne Lumenera INFINITY microscopy cameras with an intuitive interface for camera control, and image capture and processing for life science, clinical and industrial research applications.

INFINITY ANALYZE 7 enhancements include a new fluorescence mode with streamlined image processing, improved application usability for better workflow and application settings to facilitate shared equipment environments.

The application installed is ready to image in minutes, and training time is reduced with easy-to-follow online video tutorials, according to a statement.

More information at https://www.lumenera.com.

-- BERNAMA

China celebrates state-level 'Chinese Farmers' Harvest Festival' in Meizhou

KUALA LUMPUR, Sept 24 -- The state-level ‘Chinese Farmers' Harvest Festival’ was recently celebrated in Meizhou, Guangdong Province, displaying the country’s great harvest in fall and promoting its signature tea products worldwide.

The 2019 Chinese Farmers' Harvest Festival and the First China Meizhou International Elite Summit of Tea Industry are held for three days, until today.

As one of China's 70 most featured harvest celebrations in rural areas in 2019, the event serves as an important parallel session of Guangdong to celebrate the fest for farmers, according to the Publicity Department of the CPC Meizhou Municipal Committee.

The event is designed to celebrate the harvest, promote local culture and revitalise the countryside with the theme, ‘Capital of Hakkas in the World Celebrates the Harvest and Outstanding Jiaying Tea Enjoys Nationwide Reputation’.

It also promoted a host of agricultural products ranging from Meizhou pomelo and rice to Jiaying tea in the forms of dancing, singing, presentation of intangible heritage, labour techniques in the fields and sitcom.

The tea industry leaders from 21 countries and regions convened at the Elite Summit, which was held in Hanshan Mountain of Fengshun County to discuss the future development of the tea industry and promote Jiaying tea in China and beyond.

-- BERNAMA

BitHarp starts purchase 3 plus 1 promotional campaign until Oct 2

KUALA LUMPUR, Sept 19 -- New Zealand-based company, BitHarp has introduced an attractive 3 plus 1 promotional campaign for its recently launched products, namely, Lyre Miner and Harp Miner.

The special offer will be available until Oct 2, whereby one mining rig is absolutely free of cost to anyone purchasing three units, according to a statement.

The products are capable of delivering a significant ROI within a short time.

Suitable for use in home, office, as well as data centres, these two rigs are capable of mining Bitcoin, Litecoin, Ethereum and Dash.

Both Lyre Miner and Harp Miner are extremely powerful, offering extraordinary hash power rates with relatively low energy consumption.

BitHarp aims to make the benefits of crypto mining accessible to individuals without knowledge or experience of mining.

Both of its products are delivered pre-configured, allowing the customer to just plug in, choose the coin they wish to mine, enter the pool data and start mining. More information at https://www.bitharp.com.

-- BERNAMA

YAYASAN PETRONAS REACHES OUT TO MOTORISTS DURING HAZE

Free Bottled Drinking Water and N95 Face Mask for Motorists
 
KUALA LUMPUR, Sept 25 (Bernama) -- In an effort to ease the plight of motorists battling the haze, Yayasan PETRONAS, the corporate social responsibility arm of PETRONAS, in collaboration with PETRONAS Dagangan Berhad (PDB) recently handed out 10,000 bottles of mineral water and 4,000 N95 face masks at selected locations in Selangor and Sarawak.
 
The items were distributed to motorists at 20 PETRONAS stations between the peak hours of 6.00am to 10.00am and between 4.30pm to 8.30pm, at locations where the Air Pollution Index recorded unhealthy air quality readings.
 
Yayasan PETRONAS Chief Executive Officer Lita Osman said, “Health reports have shown that the risk of long term exposure to the haze could cause respiratory system and other health issues. We hope these items can help make the daily commute more comfortable for motorists who have to travel daily in poor weather conditions.”
 
This relief effort is part of the Yayasan PETRONAS Sentuhan Kasih programme, within the Foundation’s Community Well-being and Development focus area. It provides an avenue for Yayasan PETRONAS to work with communities to provide for their basic needs and well-being.
 
Notes to Editor                                  
 
To preview and download broadcast-standard stock footage and press photos digitally, please visit the Yayasan PETRONAS News Center. On this platform, you can find high-resolution material for your media channels, i.e. to embed videos into your Web pages, share video via email links, and subscribe to our newsletter.
 
Follow Yayasan PETRONAS on Facebook and Instagram.
For more information, visit https://www.yayasanpetronas.com.my/the-good-news/ - News and Media

About Yayasan PETRONAS 
 
Yayasan PETRONAS is the Corporate Social Responsibility arm of PETRONAS. Its mission is to contribute to the well-being of society. Yayasan PETRONAS aims to deliver sustainable impact, improving the quality of life and socio-economic outcomes for communities across the nation through its focus areas in Education, Community Well-being and Development and the Environment.
 
W: https://www.yayasanpetronas.com.my 
FB: https://www.facebook.com/yayasanpetronasmy/
IG: https://www.instagram.com/yayasanpetronas/
 
About PETRONAS Dagangan Berhad
 
PETRONAS Dagangan Berhad is the principal domestic marketing arm of Petroliam Nasional Berhad (PETRONAS), the national oil company, which holds 69.86% of its equity. Incorporated in Malaysia under the Companies Act 1965 on 5 August 1982 and listed on the Main Board of Bursa Malaysia on 8 March 1994, PDB has since established itself as Malaysia’s leading retailer and marketer of downstream oil and gas products.
 
The Company markets a wide range of high-quality petroleum products including motor gasoline, aviation fuel, kerosene, diesel, fuel oil, bunker fuel, lubricants, liquefied petroleum gas (LPG) and bitumen in Malaysia.
 
Issued on behalf of:
YAYASAN PETRONAS
 
Source: YAYASAN PETRONAS

NIPPON EXPRESS ANNOUNCES INVESTMENT IN FUTURE SUPPLY CHAIN SOLUTIONS LIMITED, INDIA'S LEADING LOGISTICS SERVICE PROVIDER

NIPPON EXPRESS ANNOUNCES INVESTMENT IN FUTURE SUPPLY CHAIN SOLUTIONS LIMITED, INDIA'S LEADING LOGISTICS SERVICE PROVIDER

FAST ROI WITH LYRE MINER AND HARP MINER

WELLINGTON, New Zealand, Sept 25 (Bernama-GLOBE NEWSWIRE) -- BitHarp Group Limited ( www.BitHarp.com ), an experienced manufacturer of crypto mining hardware, is rapidly emerging as a trusted name amongst individuals looking to make a profit by mining cryptocurrencies at home. The company’s recently launched products Lyre Miner and Harp Miner are characterized by low heat and noise generation and can be placed anywhere, making them perfectly suited for home use. Also, users can start using these pre-configured mining rigs just by plugging in, choosing the preferred coin, and entering the pool data.

One of the key attributes of Lyre Miner and Harp Miner is the ability of these products to generate quick return on interest for all users. This objective has been achieved by the products by delivering extremely high hash rate power for mining. Hash rate is a general measure of the processing power of crypto mining rigs. A higher hash rate means increased opportunity for cryptocurrency mining and receiving block reward. Moreover, Lyre Miner and Harp Miner support profitability with their low energy consumption.

The hash rate powers delivered by Lyre Miner and Harp Miner are mentioned below.

Bitcoin: 335 TH/s (Lyre Miner) & 2000 TH/s (Harp Miner)

Litecoin: 55 GH/s (Lyre Miner) & 300 GH/s (Harp Miner)

Ethereum: 14 GH/s (Lyre Miner) & 75 GH/s (Harp Miner)

Dash: 9 TH/s (Lyre Miner) & 50 TH/s (Harp Miner)

"BitHarp is one of the earliest companies in this market to create products that are suitable for casual crypto enthusiasts mining from their home without much knowledge or experience," said Daniel Cox, Engineering Director from BitHarp. "Lyre Miner and Harp Miner were designed to make crypto mining easy and affordable for them. It is a great pleasure for us to see many beginners earning profits using BitHarp mining rigs from home."

To find out more about Lyre Miner and Harp Miner, please visit https://www.bitharp.com/

About BitHarp: BitHarp is a New Zealand based cryptocurrency manufacturer of the most high-performance and flexible Mining rigs built with the goal of making mining easier and more profitable for investors.

Media contact
Alexa Zimine
alexa@bitharp.com
+64 04 889 3268 

SOURCE : Bitharp Group Limited

SmartStream launches instant reconciliation solution using AI, machine learning

KUALA LUMPUR, Sept 24 -- SmartStream Technologies today launched a new revolutionary approach for reconciliations, allowing business users to reconcile complex sets of data, within seconds.

The solution, SmartStream Air, is immediately accessible and uses transformative artificial intelligence (AI) algorithms to auto-configure reconciliations of any data structure.

The solution provides true AI - it has been proven in a number of tier-one banks, it has been tested with a number of customers, who are now implementing the solution.

It eliminates a great deal of time and effort, as well as makes business users far less reliant on support from teams of operations and IT staff.

According to SmartStream chief executive officer, Haytham Kaddoura, SmartStream Air is like having a highly skilled virtual operations team on hand that can tap into on demand. It is the only truly instant reconciliation solution currently available, producing accurate results within seconds.

“The solution is underpinned by sophisticated machine learning technology and is continuously improving, meaning that results only get better as time goes by. Reconciliations have met their match, you could say”.

More information on the newly-launched solution at www.smartstream-stp.com

-- BERNAMA

Tianjin Binhai New Area in China builds new gateway to sea

KUALA LUMPUR, Sept 23 -- The Tianjin Port Group’s Xiongan Service Center was recently inaugurated with the opening of the Port’s green channel for the Xiongan New Area.

Tianjin Port has made full use of its global advantages to serve the Xiongan New Area's planning and construction by focusing on building a service platform and the Xiongan New Area's gateway to the sea.

Currently, a front-end service platform is in place, including the Xiongan Service Center of the Tianjin Port Group and three logistics service nodes in Baoding, Shengfang and Baigou, according to a statement from Media Convergence Center with Tianjin Binhai New Area.

In addition, special passages and windows have been set up at the port container terminals and the Tianjin International Trade and Shipping Service Center to provide green passage for the Xiongan New Area's import and export goods.

The Tianjin Port Group's affiliates have also signed an agreement to co-develop the green channel with three Hebei firms.

All parties will build on the construction of the smart Tianjin Port to deepen the cooperation of anhydrous ports, form a modern logistics channel and offer strong support for the Xiongan New Area's infrastructure construction, people's livelihood needs and key projects.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF MS FIRST CAPITAL INSURANCE LIMITED

SINGAPORE, Sept 23 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of MS First Capital Insurance Limited (MSFC) (Singapore). The outlook of these Credit Ratings (ratings) is stable.

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

The ratings also factor in a neutral impact from the company’s ultimate majority ownership by MS&AD Insurance Group Holdings, Inc. (MS&AD group).

MSFC’s balance sheet strength assessment is underpinned by risk-adjusted capitalization that remains at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Capital adequacy is supported by the company’s low underwriting leverage and conservative investment approach. Full retention of earnings over the past five years has resulted in shareholders’ equity growing notably to SGD 829 million (USD 607 million) in 2018 from SGD 412 million in 2013. Other balance sheet considerations include the company’s moderate dependence on reinsurance to manage its exposure to catastrophe events, accumulations and large single property risks.

AM Best views MSFC’s operating performance as strong. The company has a track record of consistent and favorable underwriting and operating profitability, with a five-year average combined ratio of 72% and return on equity ratio of 13% (2014-2018). Underwriting results have been supported by the strong performance of property and marine classes of business, which over a number of years, have benefited from typically low net loss experience and favorable reinsurance commission income. Overall earnings also continue to benefit from stable investment income, arising largely from interest on the company’s cash and term deposit holdings.

MSFC’s business profile is assessed as neutral. The company has a strong presence in Singapore’s non-life market, as well as in selected overseas markets, with total gross written premium of SGD 480 million in 2018. The company continues to exhibit strong and long-standing relationships with clients and brokers. Despite this, AM Best expects persistent competitive market conditions in the company’s domestic market, as well as in some overseas markets in which MSFC generates a sizeable component of its business, to hamper near-term growth prospects.

AM Best considers the company’s approach to risk management to be appropriate given the size and complexity of its current operations. MSFC also benefits from a level of risk management oversight and governance from the MS&AD group.

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 Understanding 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 and information provider with an exclusive focus on the insurance industry. Visit www.ambest.com for more information.

Copyright © 2019 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/20190920005344/en/

Contact

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

Myles Gould
Director, Analytics
+65 6303 5020
myles.gould@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Source : AM Best