FEATURED NEWS
- March 18, 2024Technology
First Technical Services Agreement Signed with BEIE for HIROX® Plant in China
Clean TeQ Water has signed a Technical Services Agreement with BEIE to assist the delivery of the first stage of a HIROX® plant for a coal mining customer in China. This first train, treating 4,800 cubic meters per day, will provide demonstration of the process and which will ultimately treat over 50,000 cubic meters per day. This agreement follows on from the Technology Licensing Agreement signed in December 2023 whereby BEIE prepaid the licence fee for two years before reverting to a royalty payment on sales. Clean TeQ’s scope of works includes initial designs on a range of process, electrical, civil, and mechanical engineering tasks, and preparing documentation for commissioning and operation and maintenance of the HIROX® plant. BEIE is taking full responsibility for the manufacture and delivery of the plant which is expected to be commissioned in 2026. The HIROX® process brings a range of benefits to the water treatment market in China, where significant water scarcity and pollution challenges make advanced high recovery water treatment plants crucial. HIROX® provides a very high conversion of feed water to usable water while at the same time reducing waste. HIROX® is particularly valuable in industrial applications, municipal water treatment, and in areas where water resources are scarce or highly contaminated, aligning with China’s goals for sustainable development and environmental protection. ” Following our recent signing of the Technical Licence Agreement with BEIE, it is very satisfying to already be assisting BEIE in the design of the first full scale HIROX® plant in China. This will plant becomes the reference site for HIROX® in the Chinese market, a market that has a potentially huge number of applications. The execution of the first project also aligns with Clean TeQ’s goal of moving towards technology licensing agreements as the preferred business model in the delivery of Clean TeQ technology-powered water projects globally. Peter Voigt CEO, Clean TeQ Water
- March 17, 2024Business
Towngas continues its support for the Strive and Rise Programme as mentees and mentors embark on an enriched green journey
The Hong Kong and China Gas Company Limited (Towngas) remains committed to supporting the second cohort of the Strive and Rise Programme, initiated by the HKSAR Government. On 16 March, Towngas again hosted the Towngas Green Day, with new elements introduced to the event. Dozens of mentees and mentors had the opportunity to visit Towngas headquarters, gaining insights into the development of the gas industry in Hong Kong, as well as Towngas’ advancements in new energy and corporate innovation. The brand-new Towngas Green Day kicked off at Towngas headquarters, offering participants, including mentees and mentors, an opportunity to learn more about the Company’s 160-year journey in providing safe, reliable, and low-carbon energy supply to the community. Through an interactive trivia quiz, they discovered Towngas’ initiatives and accomplishments in environmental, social, and governance (ESG) practices. This year, a new addition to the tour was the visit to the Grid Control Centre, providing mentees and mentors with an understanding of the 24/7 uninterrupted gas transmission system in Hong Kong and the safety monitoring system of the gas network. Participants also had the opportunity to explore the Towngas Customer Service Hotline Centre, which operates round the clock to ensure prompt assistance and resolution of customer enquiries. Another exciting addition was the Smart Warehouse of Towngas, an award-winning facility demonstrating how the Company utilises cutting-edge technology to optimise operational processes, reduce manual handling, and enhance employee safety and efficiency. The Towngas Hall of Innovation presents original equipment and technologies developed by Towngas employees, allowing mentees and mentors to explore the Company’s culture of innovation. The Hall of Future Energy introduces the company’s vision and applications in renewable energy. Moreover, Towngas prepared a virtual reality (VR) game to provide visitors with an immersive gas safety training experience. Wing-sze, a participating mentee, said, “The Towngas Green Day was a very special experience that helped me understand how businesses work. They not only care about the environment but also have projects to support disadvantaged communities. I hope I can also help people in need in the future.” Mr Yip, a mentor, mentioned, “I feel that this activity was incredibly rewarding and provided the mentees with valuable knowledge. The use of VR technology was particularly impressive as it allowed us to feel as if we were in the actual working environment of Towngas, enabling us to understand the significance of safety measures. Mr Lam Ming-wing, Towngas Head of Corporate Human Resources and Head of Corporate Safety and Environment, remarked, “Towngas will consistently prioritise the personal growth of students as a core objective. We aim to assist students in pursuing their dreams, fostering problem-solving abilities, and inspiring them to explore their potential. Through this initiative, we encourage mentees to discover their own value and share this awareness, collectively building a sustainable future.” Towngas is set to host another Towngas Green Day in September, aiming to inspire more young individuals and assist them in exploring a wider range of personal development opportunities. - END - Press photos: Photo 1: Towngas continues supporting the second cohort of the Strive and Rise programme by inviting mentees and mentors to take part in the Towngas Green Day at the Towngas headquarters. Photo 2: Mr Lam Ming-wing, Towngas Head of Corporate Human Resources and Head of Corporate Safety and Environment, hopes that mentees and mentors can enjoy themselves at the Towngas Green Day event and learn more about the importance of environmental protection and sustainable development. Photo 3: Mentees and mentors visit the 24-hour Grid Control Centre to learn about the safety monitoring system of Towngas’ gas supply network. Photo 4: After visiting the Customer Service Hotline Centre, which operates 24 hours a day, the mentees and mentors have expressed a greater understanding of Towngas’ culture of prioritising customer needs. Photo 5: The mentees and mentors tour Towngas’ Smart Warehouse, gaining insight into how the warehouse leverages state-of-the-art technology and equipment to enhance safety and overall efficiency. Photo 6: The mentees and mentors are actively engaged and enthusiastic while participating in the virtual reality (VR) game and trivia quiz, learning about gas safety and green energy knowledge. Photos 7 & 8: The mentees and mentors are intrigued by the Hall of Innovation and the Hall of Future Energy, igniting their innovative thinking and expanding their knowledge of future energy and hydrogen power. Photo 9: Alan (left), a participating mentee, says that the Towngas Green Day has been a valuable learning experience, providing him with extensive knowledge about energy and making him realise the importance of environmental protection. Mentor Mr Yip (right) finds the activities enriching, allowing mentees to broaden their knowledge. He particularly appreciates the use of VR technology, which enables mentees to experience the significance of safety measures firsthand. For media enquiries, please contact: The Hong Kong and China Gas Company Limited Mr Addie Lam Assistant General Manager – Corporate Affairs Tel: 2963 2578 / 6702 6449 Email: addie.lam@towngas.com Ms Kara Kwong Senior Corporate Affairs Officer Tel: 2963 3497 / 6698 3357 Email: kara.kwong@towngas.com
- March 15, 2024Business
JD Logistics Announces Major Expansion of International Express Delivery Service
JD Logistics, the logistics arm of JD.com (also known as Jingdong), today announced a significant expansion of its international express delivery service. This expansion extends the service’s reach from initial hubs in Guangzhou and Shenzhen to nearly every district within China, offering an express delivery experience from China to global destinations for both individuals and businesses. First launched in December 2023, JD’s international express delivery service has been utilized for sending a variety of products including documents, apparel and more, with the United States, United Kingdom, and Germany emerging as the top three destinations. The service not only processes individual orders but also caters to the needs of overseas consumers and merchants, ensuring a seamless and efficient logistics solution that spans continents. JD Logistics is committed to leveraging our extensive network and logistics expertise to provide fast, reliable, and high-quality logistics services. Leveraging JD’s in-house couriers and logistics transportation network, the international express delivery service offers one-hour doorstep pick-up. Additionally, through JD’s air and land transportation network, international express shipments are prioritized and trackable throughout the journey. JD.com is actively expanding its international supply chain and logistics capabilities. A recent collaboration with Geopost has enabled JD to develop comprehensive shipping solutions between China and Europe, setting a new benchmark in logistics excellence. Further amplifying its international footprint, JD’s partnership with Evri, the U.K.’s largest dedicated parcel delivery company, will facilitates the process for European businesses to access JD.com’s marketplace and connect with a broad Chinese consumer base. Additionally, JD is adapting its highly efficient warehousing model, proven successful in China, to meet industry demands throughout Europe, North America, the Middle East, Southeast Asia, and Australia. Notably, JD Logistics’ overseas warehousing operations already offer same-day fulfillment services in key European markets, including Germany, the Netherlands, France, the U.K., Spain, and Poland, while ensuring rapid two-to-three-day delivery across 90% of regions in the United States. JD Logistics’ venture into international express delivery is a natural extension of its existing capabilities. Over the past decade, the company has transformed the delivery landscape in China by pioneering same- and next-day delivery, setting a new standard of service for nearly 600 million consumers. This unmatched efficiency is achieved through JD Logistics’ six highly synergized logistics networks, encompassing warehousing, line-haul transportation, last-mile delivery, bulky item delivery, cold chain logistics, and cross-border logistics. ( yuchuan.wang@jd.com )
- March 15, 2024Business
JD.com Boosts Trade-In Subsidies and Enhances Service for Household Appliances and Home Goods
JD.com announced on March 14 at the China Household Appliances and Consumer Electronics Expo (AWE2024) that it will invest RMB 3 billion yuan (USD ~420 million) in 2024, in collaboration with its partners, to further improve subsidies and services for customers trading in used home appliances and goods. The company anticipates that over 20 million users will participate in JD’s trade-in program in 2024, with more than 30 million old appliances and home goods collected through the initiative. Since launching its trade-in service for household appliances in 2016, JD.com has expanded to include household goods, covering more than 200 subcategories and reaching over 95% of cities and towns across the country. To simplify the trade-in process, JD.com has implemented several user-friendly measures, such as complimentary doorstep pickup, dismantling, and recycling of old appliances, without limitations on their type, brand, age, or condition. The platform has also adopted a fixed-price deduction model for trade-ins to alleviate shoppers’ concerns. Moreover, JD.com has led the way in offering trade-in services for home goods and is one of the first to provide integrated dismantling and delivery services for a wide range of appliances and items, including mattresses and electric locks. This comprehensive service model significantly reduces the hassle for consumers by eliminating the need to deal with multiple service providers. The continuous improvements to JD.com’s trade-in services have earned increasing appreciation from Chinese consumers. In 2023, the platform collected over 15 million old appliances. Since March 2024, participation in JD’s trade-in program has grown by more than 150% year over year. This initiative aligns with the action plan issued by the State Council of China on March 13th to promote large-scale equipment renewals and trade-ins of consumer goods. The plan focuses on enhancing convenience and streamlining the appliance update process by fostering collaboration among retailers, manufacturers, and recyclers to promote trade-ins, including the establishment of dedicated zones and incentives for trading in old appliances for energy-efficient models. JD.com is dedicated to serving as a bridge between consumers and manufacturers, working with partners to promote the appliance industry’s high-quality growth, expedite the development of green supply chains, and provide reliable, cost-effective products. By offering comprehensive services and supporting brands, JD.com aims to encourage consumption renewal in the home appliances and goods sector. ( vivian.yang@jd.com )
- March 15, 2024Business
JD Health Enhances Eldercare Services with Key Partnerships at Beijing Conference
On March 12th, JD Health held its fourth annual Partner Conference, coinciding with the Eldercare Consumption Summit in Beijing. The event attracted over 400 attendees, including eldercare specialists and industry representatives, and focused on developing a healthcare system that is both inclusive and adaptable, catering specifically to the dynamic needs of China’s aging population. During the summit, JD Health established partnership agreements with ten industry-leading brands, including 3M, Cofoe, Yuwell, Haier, Innuovo, ITD GmbH, LePu Medical, Mateside, Omron, and Sonova. The partnerships also marked the establishment of the “Eldercare Brand Alliance,” dedicated to propelling innovation in eldercare services and products, ultimately improving the quality of life for senior citizens through collective efforts. Jin Enlin, CEO of JD Health, highlighted the company’s commitment to leveraging collaborative resources to scale, standardize, and strengthen recognizable brands within the burgeoning silver economy. This strategic approach is poised to deliver unparalleled care and support to the elderly. As China’s premier online health platform, JD Health offers a diverse range of over 30,000 brands and numerous subcategories in eldercare. Its expansive offerings cover various needs, from mobility aids to in-home care solutions, emphasizing a professional and user-centric ecosystem for eldercare products and services. In January, JD Health launched a dedicated eldercare channel to provide a wide selection of products and services specifically designed for the elderly. The channel facilitates everything from the installation of nursing beds and at-home hearing aid services to 24/7 specialized online customer support, aiming to close the gap between professional healthcare services and the elderly community. JD Health has also effectively integrated its online and offline services to establish a comprehensive eldercare service system. This includes setting up hearing centers and offering services such as medical escorting and quick home check-ups, enhancing the overall accessibility of eldercare. With nearly 300 million people aged 60 and above, China’s silver economy is expanding rapidly. JD Health remains dedicated to serving this demographic, continuously working to improve the quality of life for senior citizens nationwide. ( vivian.yang@jd.com )
- March 15, 2024Health
Kao Selected as a Health & Productivity Stock Selection Brand for the Ninth Time
Kao Corporation was selected by the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) as a Health & Productivity Stock Selection brand 2024 among listed companies in recognition of its outstanding health and productivity management. Kao was also recognized by METI, for the eighth consecutive year, as a Certified Health & Productivity Management Outstanding Organization (White 500) for its outstanding practice of health and productivity management. Health & Productivity Stock Selection brands are those in which listed companies focus on and strategically carry out efforts with regard to their employees’ and other workers’ health from a management perspective, selected among those with outstanding achievements in this area and recognized jointly by METI and TSE under the Health & Productivity Stock Selection. The program was launched in 2015, and Kao was selected for the ninth time. Kao was also recognized as a Certified Health & Productivity Management Outstanding Organization under the Large Enterprise Category (White 500). This joint program by METI and the Nippon Kenko Kaigi, begun in 2017, recognizes businesses that, working together with health insurers, implement outstanding health management. The Kao Group’s Activities To advance Group-wide health and productivity management, Kao provides equitable opportunities for its employees and their families to receive health support under medium-term five-year health plans to ensure a systematic approach to health and productivity management. Health administration staff and persons responsible for health administration are assigned to each business location and branch office and coordinate with industrial health staff. Kao’s Health Promotion Management System, in operation since fiscal 2009, compiles anonymized statistical health data (on medical interviews, health check-ups, occupations, illnesses, etc.). This data is also provided to 21 health consultation centers throughout Japan to help enable drafting and implementing plans based on actual conditions and issues in each area. Based on changes in work style and lifestyle today, Kao is helping create a “new normal” of using a hybrid of in-person and online services. Kao also suggests activities personalized for individuals and utilizes the online community to advance efforts to connect people in far-away places and increase mutual wellbeing through its own GENKI-WEB health platform. In addition, Kao’s health solutions program, the Kao GENKI Project for Everyone, brings together in-house health care knowledge and visualization technology. The project also offers partial services outside the company and is being used to improve the health of local communities and of other companies. * Health and Productivity Management is a registered trademark of Non-Profit Organization Kenkokeiei. As part of the Kao Group’s ESG strategy, the Kirei Lifestyle Plan launched in April 2019, Kao promotes “employee wellbeing and safety,” which is one of the leadership action themes in the Kirei Lifestyle Plan. In the Kao Group Mid-term Plan with its vision of “protecting future lives” and “sustainability as the only path,” the mental and physical health of its employees, without whom Kao’s business activities would not be possible, is a vital element for creating an environment conducive to working better. By continuing to carry out health and productivity management, Kao will advance maximizing the power and potential of employees, which is one of its fundamental policies. About the Kirel Lifestyle Plan Over the past 130 years, Kao has worked to improve people’s lives and help them realize more sustainable lifestyles—a Kirei Lifestyle. The Japanese word ‘kirei’ describes something that is clean, well-ordered and beautiful, all at the same time. The Kao Group established its ESG strategy, the Kirei Lifestyle Plan in April 2019, which is designed to deliver the vision of a gentler and more sustainable way of living. By 2030, Kao aims to empower at least 1 billion people, to enjoy more beautiful lives and have 100% of its products leave a full lifecycle environmental footprint that science says our natural world can safely absorb. Please visit the Kao sustainability website for more information. About Kao Kao creates high-value-added products and services that provide care and enrichment for the life of all people and the planet. Through its portfolio of over 20 leading brands such as Attack , Bioré , Goldwell , Jergens , John Frieda , Kanebo , Laurier , Merries, and Molton Brown , Kao is part of the everyday lives of people in Asia, Oceania, North America, and Europe. Combined with its chemical business, which contributes to a wide range of industries, Kao generates about 1,530 billion yen in annual sales. Kao employs about 34,300 people worldwide and has 137 years of history in innovation. Please visit the Kao Group website for updated information. Media inquiries should be directed to: Public Relations Kao Corporation corporate_pr@kao.com
- March 15, 2024Travel & Leisure
AirAsia X partners Kazakh Tourism to elevate tourism and further boost the economy between Malaysia and Kazakhstan
Photo Caption: (Second from left) H.E Mohd Adli Bin Abdullah, Ambassador of Malaysia to Kazakhstan, Benyamin Ismail, CEO of AirAsia X, Kairat Sadvakassov, Chairman of Kazakhstan Tourism & Datuk Kamarudin Meranun, Executive Chairman of Capital A at the MOU signing ceremony Following its successful inaugural flight celebration to Almaty, Kazakhstan, AirAsia X (AAX) today signed a Memorandum of Understanding (MoU) with Kazakhstan Tourism for strategic collaboration. The MOU encompasses greater commercial collaboration and partnerships between the airline and the organisation in promoting tourism between Kazakhstan and Malaysia, creating new business opportunities, developing joint sales and marketing campaigns, as well as boosting both countries’ economies through tourism. As a strategic partner, AirAsia will not only fly travellers from Malaysia and other Southeast Asian countries to Almaty but also connect travellers from Almaty to 130 destinations across the region via Kuala Lumpur. The airline is also looking to extend both Malaysian and Kazakh tourism product promotion across the region through conferences, travel marts, and other exciting events. The MoU was signed by Benyamin Ismail, CEO of AirAsia X, and Kairat Sadvakassov, Chairman of Kazakhstan Tourism, witnessed by H.E Mohd Adli Bin Abdullah, Ambassador of Malaysia to Kazakhstan; and Datuk Kamarudin Meranun, Executive Chairman of Capital A. Also in attendance were representatives from Almaty Airport, Civil Aviation Authority of Kazakhstan, and other key industry players. Benyamin Ismail, CEO of AirAsia X said: “This strategic alliance is a significant leap for both Malaysia and Kazakhstan. It is not just about enhancing travel experiences, but also about bolstering our economies. This partnership opens up more opportunities for travellers, leading to growth for both nations. Our competitive fares stimulate air travel wherever we fly, contributing to the tourism sector, a major engine for job creation and a driving force for economic growth. “Moreover, the high load factor on both legs of our inaugural flights indicates strong demand for the route and reflects positively on our capability to penetrate new markets. This bodes well for future growth and expansion opportunities in the region, boosting not only our opportunities in various sectors between Malaysia and Kazakhstan but also the Southeast Asian region. We are excited to see the positive changes it brings for Malaysia and Kazakhstan in the future.” Kairat Sadvakassov, Chairman of Kazakhstan Tourism said: “We are pleased to welcome AAX to our country. The entry of AirAsia into our market is important not only for Kazakhstan but also for the entire Central Asian region. Kazakhstan, like the gates and the Heart of Central Asia, provides access to numerous attractions in our region. “We hope that cooperation with AAX will be fruitful and contribute to significant trade, commercial, cultural, and educational exchanges. Additionally, we believe that cooperation between our countries will create new job opportunities and play a significant role in the economic growth of our nations. “Striving to promote tourism in both directions, AAX has launched flights between Kuala Lumpur and Almaty, as well as Almaty and Kuala Lumpur, with a frequency of 4 times a week. The planes will operate every Tuesday, Thursday, Saturday, and Sunday." In its effort to promote tourism, AAX is offering promotional fares for 24 hours only for flights from Almaty to Kuala Lumpur from only USD15 base fare* one way. The airline will also continue to run promotional fares for this route starting today till 21 March 2024, from just RM599 or USD169 all-in** one-way for the travel period between now and 17 June 2025 on airasia.com and the AirAsia MOVE app, which was previously known as ‘airasia Superapp’. AAX's inaugural flight from Kuala Lumpur to Almaty landed on 14 March 2024 with a load factor close to 100 per cent, signifying a leap forward for the airline as it ventures into the heart of Central Asia. The airline also carried a 100 per cent load from Almaty to Kuala Lumpur on the same day, marking a successful start to its operations in the region. *The Flash Sale is only applicable for the BASE FARE for a limited time, subject to seat availability on a first come first serve basis until 16 March 2024. Excluding all relevant taxes and fees. Other terms and conditions apply. **The promotional all-in fares quoted are for one-way travel inclusive of taxes, fuel surcharge, and other relevant fees. Other terms and conditions apply .
- March 15, 2024Travel & Leisure
AirAsia X welcomes inaugural flight from Kazakhstan to Malaysia with 100% load factor
Photo Caption: (From Left to Right) Moses Devanayagam, Senior Director of Operations of AirAsia X; Kesavan Sivanandam, Chief Airport and Customer Experience Officer of AirAsia; Amanda Woo, Group Head of Commercial of AirAsia; Manoharan Periasamy, Director General, Tourism Malaysia and r. Yasmeen binti Yasim, Deputy Secretary General (Tourism, Ministry of Tourism, Arts and Culture) at the welcoming ceremony for the inaugural flight from Almaty at Kuala Lumpur International Airport (Terminal 2) today. As AirAsia X (AAX) officially entered the Central Asian market with the launch of its direct flight to Almaty, Kazakhstan yesterday, the airline today welcomed 285 guests that formed a 100 percent load on its inaugural flight from Almaty to Kuala Lumpur. The inaugural flight D7601 departed from Almaty International Airport on 14 March 2024 and landed at Kuala Lumpur International Airport (Terminal 2) today. All guests received a warm welcome from Dr. Yasmeen binti Yasim, Deputy Secretary General (Tourism, Ministry of Tourism, Arts and Culture) and Manoharan Periasamy, Director General, Tourism Malaysia together with Kesavan Sivanandam, Chief Airport and Customer Experience Officer of AirAsia, Moses Devanayagam, Senior Director of Operations of AirAsia X and Amanda Woo, Group Head of Commercial of AirAsia. Minister of Tourism, Arts and Culture Malaysia, YB Dato Sri Tiong King Sing said: “We are pleased to welcome AirAsia X’s inaugural flight from Almaty, Kazakhstan to Kuala Lumpur today. As the first Malaysian airline to fly directly to Almaty, this marks a significant milestone for our nation. Malaysia is a country rich in diverse cultures and natural beauty, and we are excited to extend our Malaysian hospitality to our Kazakh friends. Our aim for 2024 is to welcome over 27.3 million tourists, and we are confident that our Kazakh visitors will contribute significantly to this goal. Selamat Datang ke Malaysia!" AirAsia X CEO, Benyamin Ismail added: “The launch of our direct flights from Almaty today with an impressive 100 percent load factor marks a significant leap forward for AirAsia X as we venture into the heart of Central Asia. This strategic move underscores our continued commitment to expanding our global footprint and reconnecting travellers with the world's most captivating destinations. We are confident that our entry into the Kazakh market will not only enhance tourism between both countries but also foster closer ties regionally as we can connect the people in the largest country in Central Asia to 130 destinations from Kuala Lumpur. As we continue to expand our increasing network across the region and presence in Central Asia, we are excited about the opportunities that lie ahead for the airline.” In celebration of this milestone, AAX is offering promotional fares from RM599 all-in* one-way or USD169 all-in* one-way between Kuala Lumpur and Almaty. The promotional fares are available for booking starting 15 until 21 March 2024 for the travel period between now and 17 June 2025 on airasia.com and the AirAsia MOVE app, which was previously known as ‘airasia Superapp’. *The promotional all-in fares quoted are for one-way travel inclusive of taxes, fuel surcharge, and other relevant fees. Other terms and conditions apply .
- March 14, 2024Business
Indorama Ventures’ THB 10 billion debenture issuance draws strong interest from investors
Indorama Ventures Public Company Limited, a global sustainable chemical producer, today announced it successfully raised THB 10 billion through an issue of Thai baht-denominated debentures to institutional and high-net-worth investors. The oversubscribed transaction was achieved at lower average spreads than the company’s previous issuance in 2023. The unsubordinated and unsecured debentures hold an "AA-" rating with a stable outlook from TRIS Rating as of 9 February 2024. They are divided into tranches with maturities of 3, 5, 7, 10,12 years, and 2 years 9 months, offering respective coupon rates of 3.10%, 3.48%, 3.65%, 3.90%, 4.02%, and a discount rate of 3.00%. The spreads are on average 5 basis points lower than the company’s previous issuance in May 2023. Strong interest from investors prompted the company to exercise a greenshoe option to extend the initial issuance size from THB 6 billion to THB 10 billion. The funds will be used to refinance THB 4.18 billion in bonds maturing in 2024, while the remainder will be deployed for general business purposes. Under its IVL 2.0 evolved business strategy, outlined at the company’s annual Capital Markets Day on 5 March, Indorama Ventures is strengthening its capital structure by deleveraging its business and driving enhanced earnings in a prolonged environment of higher interest rates. To create ample liquidity, the company has committed refinancing of $750 million for 2024 and $400 million for 2025, to be completed in 1H24. Mr. DK Agarwal, Deputy Group CEO and Group CFO at Indorama Ventures, said, “The robust demand from investors for this issuance is a testament to their confidence in Indorama Ventures' financial strength and our evolved strategy to drive sustainable long-term growth, which we outlined at our Capital Markets Day this month. We expect the current environment of higher interest rates to continue for the foreseeable future, which is putting pressure on capital costs across the chemicals industry and testing the viability of many companies’ business models. Therefore, to leverage our unmatched global footprint and maintain our industry leadership, we are taking bold steps to strengthen our debt profile, enhance our earnings quality, and generate cash under a policy of strict capital discipline and international standards of leverage.” Indorama Ventures continues to maintain a diversified approach to securing its liquidity needs, having marked its debut in the Thai debentures market in 2011. In 2015, it expanded internationally with the issuance of SGD-denominated bonds. In 2021, the company issued a THB 10 billion Sustainability-Linked Bond (SLB), a record for Thailand, to fuel its industry leadership in sustainability.
- March 14, 2024APAC
Dupharma Biotech forms R&D partnerships for new therapies
Duopharma Biotech Berhad ("Duopharma Biotech") recently entered into Memoranda of Understanding (MoUs) with the UK-based Centre for Affordable Diagnostics & Therapeutics Limited ("CADT") and PAMOJA Therapeutics BV ("PAMOJA") from the Netherlands for a drug repurposing research involving the manufacturing of Investigational Medicinal Products (IMP) for clinical trials in Malaysia and subsequent commercialisation. "Duopharma Biotech is pleased to have the potential to collaborate with the Centre for Affordable Diagnostics & Therapeutics and PAMOJA Therapeutics on this important research that seeks to discover new uses and indications for existing pharmaceutical products. As a leading Malaysian healthcare company with a vision of 'Providing Smarter Solutions for a Healthier Life', we believe that research into expanding the benefits of well-trusted pharmaceutical products is one way to ensure that patients can have more options to choose from in a shorter time span. In addition, there are more avenues for manufacturing widely-used pharmaceutical products such as artesunate, which can contribute to improving access to treatment options, in line with our ESG focus on improving access to healthcare," said Leonard Ariff Abdul Shatar, Group Managing Director, Duopharma Biotech Berhad. CADT is a social enterprise (not for shareholder's profit) set up to facilitate and development pipelines for affordable diagnostics and therapeutics for infectious diseases and cancer, focusing on developing affordable and highly accessible novel therapeutics. The Centre, which acts as an accelerator between international entities and the Malaysian ecosystem established and launched the International Affordable Diagnostics and Therapeutics Alliance (IA-DATA) in Kuala Lumpur in December 2023, marking a significant step towards addressing global health challenges, including infections, cancers and non-communicable diseases. The alliance is built upon three strategic pillars, namely developing affordable point-of-care diagnostics, exploring drug repurposing for existing medications and advancing molecular pharming for cancer immunotherapies and diagnostics. Among IA-DATA's Initial Pilot Projects for 2024 is a collaboration with the University of Malaya on drug repurposing studies using antimalarial drug artesunate. The MoU between Duopharma Biotech and CADT seeks to explore potential areas of mutual cooperation and technical collaboration for drug repurposing and other strategic areas within the scope of affordable diagnostics and therapeutics for many diseases. "All of us need to be able to afford ways to manage illness when it strikes. This means we should be able to diagnose diseases like dengue that are increasing in so many regions, and to treat cancers with effective but affordable drugs. Those are the types of solutions that CADT aims to deliver through partnerships developed in Malaysia," said professor Sanjeev Krishna, Director, Centre for Affordable Diagnostics & Therapeutics Limited. Meanwhile, PAMOJA Therapeutics BV is a specialty pharmaceutical company engages in development, partnering and commercialisation of an artesunate product portfolio, established as a joint venture between Dutch-based Avivia Projects BV and K&B Papertex beteiligungsgesellschaft mbH. Focusing on offering generic formulations of artesunate including those intended for monotherapy, or customised novel formulations of artesunate, to R&D entities such as CADT, Pamoja is also actively developing an oral combination therapy and intravenous administration of artesunate for the treatment of malaria. The MoU between Duopharma Biotech and PAMOJA seeks to explore collaborations on the manufacture of pharmaceutical products for repurposing. Duopharma Biotech will specifically collaborate with PAMOJA in the manufacturing of artesunate for clinical trials into the use of artesunate in novels indications in Malaysia. "Artesunate could be a game changer in affordable cancer therapy and we are therefore thrilled to connect with Duopharma Biotech as our local manufacturing and distribution partner in Malaysia and surrounding countries," added Hans Platteeuw, Director, PAMOJA Therapeutics BV.
- March 14, 2024Transportation
NX Belgium wins Logistics Service Provider Award at 17th Brussels Airport Awards
Nippon Express (Belgium) N.V./S.A. (President: Michael Kamm; hereinafter "NX Belgium"), a group company of NIPPON EXPRESS HOLDINGS, INC. (President: Satoshi Horikiri), won the Logistics Service Provider Award at the 17th Brussels Airport Aviation Awards held on Tuesday, February 20. (At the award ceremony) This year's Brussels Airport Aviation Awards were hosted by Brussels Airport Company (BAC), the operator of Brussels Airport, to recognize airlines and partners that achieved excellence in terms of punctuality and performance, network development, and safety and the environment. NX Belgium received the Logistics Service Provider Award in 2023 for its ongoing cooperation and shared vision of future Japanese connectivity, as well as for its active participation in Pharma Aero (*1) and Air Cargo Belgium (*2). The NX Group will continue meeting customers' challenges and supporting their business expansion with its global network and accumulated expertise in advanced logistics. *1 Pharma Aero: a collaborative coalition of pharmaceutical companies, the CEIV Pharma certification community, airport operators and others in the air cargo industry that was launched in 2016 with the aim of devising and developing projects to address the challenges of pharmaceutical air transport across industries; its initiatives are directed by Brussels Airport and Miami Airport. *2 Air Cargo Belgium: an association representing the Belgian air cargo community
- March 14, 2024Business
Axiata Group joins Cambodia’s inaugural Digital Government Forum to showcase digital solutions and drive transformation
Axiata Group Berhad (“Axiata” or “the Group”) and its subsidiary Smart Axiata, successfully participated in Cambodia's first Digital Government Forum (DGF) from March 11th to 13th, 2024. This event underscores the Kingdom of Cambodia's commitment to its digital government aspirations, as laid out in the Digital Government Policy 2022-2035. Organised by the Ministry of Post and Telecommunication (MPTC), featuring international digital ministers, technology leaders, and academia, the forum aims to catalyse public-private partnerships for digital advancement. At the Digital Government Forum, Smart showcased its leadership in digital products through an exhibition that highlighted the wealth of its offerings for SMEs, individual and home customers, as well as its advancements in cybersecurity technologies. These products are crucial at the early stages of Cambodia's digital adoption journey, marking the beginning of the country's digital transformation efforts. For over two decades, Axiata has significantly influenced Cambodia's telecom landscape, making strides in mobile technology and infrastructure, evidenced by investments exceeding USD2.5 billion. The Group’s ventures have encompassed pivotal technology introductions and services via Smart, the leading telecom company in Cambodia. Recently Smart has introduced flexible tariff plans, the robust Fiber+ service for secure and stable internet connection at homes and offices, and the comprehensive "Smart for Business" suite designed specifically for SMEs. Additionally, the company has achieved significant milestones by introducing the Next Generation Signaling Firewall (NGSF) and Intrusion Detection System (IDS) in partnership with a global security partner, SecurityGen. This collaboration underscores Axiata's commitment to safeguarding its network infrastructure and protecting Cambodian customer data. CEO of Smart Axiata, Ziad Shatara said, “At Smart, we understand our role in advancing Cambodia's economy with significant technological innovations. Our commitment lies in enriching the nation's digital landscape, together with our parent company's support and in compliance with regulatory standards. This approach not only serves our customers' growing needs but also drives the digital transformation forward aiming for a future of digital inclusivity and economic growth.” Group CEO & Managing Director of Axiata Group, Vivek Sood stated, “Axiata continues to leverage upon our collective wealth of experience across Asia to spearhead innovation and digitalisation within the digital telecommunications sector via our operating companies, Smart Axiata and Edotco in Cambodia As a committed long-term investor, our focus extends beyond building infrastructure and laying the foundation for digital technology in Cambodia - we also prioritise maintaining a secure and safe digital landscape. We commend the Ministry of Post and Telecommunications of Cambodia for their unwavering dedication to driving this transformative initiative, marking a significant milestone in the nation's digital journey. Axiata Group, alongside Smart and Edotco, remains dedicated to our partnership with the Royal Government of Cambodia. Our shared goal is to create a robust digital economy and society, characterised by secure networks and positive experiences for the people of Cambodia, and for the country to reach unprecedented levels of progress. We aim to do our part to elevate Cambodia to a higher middle-income status by 2030 and ultimately achieve high-income levels by 2050.” concluded Vivek. The Prime Minister of Cambodia, H.E. Samdech Moha Borvor Thipadei HUN Manet and accompanying ministers engaging with Vivek Sood, Group CEO and Managing Director of Axiata Group, and Ziad Shatara, CEO of Smart Axiata, at the Digital Government Forum 2024. -END- About Axiata In pursuit of its vision to be The Next Generation Digital Champion, Axiata is a diversified telecommunications and digital conglomerate operating Digital Telcos, Digital Businesses and Infrastructure businesses across a footprint spanning ASEAN and South Asia. The Group has controlling stakes in market-leading mobile and fixed operators in the region including 'XL’ and ‘Link Net' in Indonesia, 'Dialog' in Sri Lanka, 'Robi' in Bangladesh, and 'Smart' in Cambodia while 'CelcomDigi' in Malaysia is a Key Associate Company. Axiata’s regional digital business verticals comprise ‘Boost’ a fintech company, ‘ADL’ a telco-focused software and digital solutions provider and ‘ADA’, a digital analytics and AI company. 'EDOTCO' is among the top 10 independent TowerCos globally, operating in nine countries to deliver telecommunications infrastructure services. As a committed and long-term investor, the Group actively supports and drives young talent development; community outreach; as well as climate change initiatives. Axiata's broader goal of Advancing Asia aims to piece together the best in the region in terms of innovation, connectivity and talent to drive digital inclusion and sustainable progress across our markets. Find out more at www.axiata.com For media enquiries, please contact: Sujartha Kumar Head of Corporate Communications Tel: +6011.10.000.177 Email: sujartha@axiata.com About Smart Axiata Smart Axiata Co., Ltd., Cambodia’s leading mobile telecommunications operator, currently serves 8 million subscribers under the 'Smart' brand. Smart Axiata is part of Axiata Group Berhad, one of Asia’s largest telecommunications groups. Smart is at the forefront of mobile technology advancement in Cambodia. Smart was the first network to introduce 4G LTE in 2014, 4G+ in 2016, 4G+ with HD Voice (VoLTE) and LTE Advance Pro in 2017. In mid-2019, Smart hosted the first 5G live showcase in the Kingdom, manifesting its mobile data leadership position. Smart also provides international roaming across more than 170 countries. Its extensive nationwide network coverage stretches to 99% of the Cambodian population. The company is also rapidly transforming itself into a digital lifestyle tech brand, having introduced many innovative offerings and lifestyle entertainment value propositions. This includes various international brand partnerships with Universal Music, Apple and Facebook, as well as digital services including Smart Insurance, SmartPay, Pleng by Smart, Pi Pay and SmartNas. Smart aspires to be the nation’s most trusted tech brand for consumers and businesses by 2026, while having a strong corporate social responsibility and sustainability agenda for national socio-economic growth. The company's workforce consists of over 1000 local and foreign experts striving towards a common mission of connecting and making lives better. Live. Life. Be Smart. For further information, please contact: Srey Chem Oeun Head, Corporate Communications Smart Axiata Email: chem.sreyoeun@smart.com.kh
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