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ACN Newswire press release news - Recent Press Releases

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    A new company, HIPUS aims to combine the strengths and expertise of each company, and accelerates process transformation led by digital procurement functions

    TOKYO, Dec 14, 2018 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501), Infosys Ltd. (NYSE:INFY), Panasonic Corporation (TSE:6752), and Pasona Group Inc. (TSE:2168), announced that a contract was signed on December 14, 2018, regarding the transfer of part of the shares owned by Hitachi in Hitachi Procurement Service Co., Ltd., Hitachi's fully owned subsidiary that handles indirect materials(1) purchasing functions for the Hitachi Group, to Infosys, Panasonic, and Pasona Group's subsidiary PASONA Inc. The transfer of shares is scheduled to take place on April 1, 2019.

    Recently, as a result of advancements in digitalization, digital technologies such as artificial intelligence (AI) and robotic process automation (RPA) are being applied in conventional tasks, and there has been a growing trend toward streamlining and increasing efficiency in work processes, while at the same time strengthening corporate competitiveness. This is true of corporate procurement operations as well, where companies are facing an urgent need to apply digital technologies in order to achieve efficient procurement activities that demonstrate high added value, and to contribute to further enhancing their competitive strength. The trend toward business process management (BPM) and Business Process Outsourcing (BPO) is also accelerating, for example in corporate procurement and accounting processes, and the related service market in Japan is expected to expand even further in the future.

    In this backdrop, Hitachi, Infosys, Panasonic, and PASONA agreed to form a new company in order to combine their strengths and expertise, and to further strengthen the procurement function of indirect materials. Hitachi will transfer part of the shares in Hitachi Procurement Service to Infosys, Panasonic and PASONA, and the shareholder composition after the transfer will be as follows: Infosys: 81%; Hitachi: 15%; Panasonic: 2%; and PASONA: 2%. After the transfer is complete, the new company name will be HIPUS, Ltd. HIPUS will combine Infosys's expertise in procurement on a global scale, BPM platforms, and advanced IT technologies with PASONA's human capital and BPO networks in Japan. Initially, it will strive to increase efficiency and added value through merits of scale, by applying BPO services in Hitachi's and Panasonic's procurement activities.

    Furthermore, HIPUS will utilize Hitachi's, Infosys' and PASONA's respective customer bases to introduce BPM and BPO services in processes such as procurement and purchasing operations, and will roll out a broad range of other businesses as well, for example by introducing consulting, reverse auctions(2), and other purchasing schemes, and by providing training services related to procurement. In this way, it will aim to achieve transaction volumes on a scale of 400 billion yen(3) in FY2021.

    (1) Indirect materials: materials used in a production process, but which can't be linked to a specific product or job.
    (2) Reverse auction: a type of auction in which sellers bid for the prices at which they are willing to sell their goods and services.
    (3) Hitachi Procurement Service's transaction volumes during the year ended March 2018 totaled 103.0 billion yen.

    About Infosys Ltd.

    Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem. Visit http://www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

    About Panasonic Corporation

    Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. The company, which celebrated its 100th anniversary in 2018, has expanded globally and now operates 591 subsidiaries and 88 associated companies worldwide, recording consolidated net sales of 7.982 trillion yen for the year ended March 31, 2018. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic: http://www.panasonic.com/global.

    About Pasona Group Inc.

    Ever since its foundation in 1976, Pasona Group's corporate philosophy, "Providing Solutions to Society's Problems" has not changed. The Company has aimed to build a better society and to create an infrastructure that provides each individual the opportunity to work and the freedom to choose the job of his or her choice.

    Pasona provides HR Solutions worldwide (Temporary staffing, Contracting, HR Consulting, Place & Search, Global Sourcing, Outplacement, Outsourcing), and Life Solutions such as services in the childcare and elderly care area. The Company is also engaged in promoting local revitalization.

    About Hitachi, Ltd.

    Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

    Contact:
    Hitachi Ltd Corporate Communications Tel: +81-3-3258-1111

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    TOKYO, Dec 14, 2018 - (JCN Newswire) - NTT DOCOMO, INC. will expand its docomo Money Transfer mobile overseas remittance service to China and Thailand from December 17, bringing the total number of destination countries and regions to 42. Remittances to 70 banks and financial institutions in China and 28 in Thailand will be possible for a flat fee of JPY 1,000 (tax free).

    DOCOMO's mobile overseas remittance service, which launched in 2011, enables Japanese subscribers to send funds with ease and convenience to children studying abroad or family working overseas. It has also been used increasingly by DOCOMO's foreign subscribers in Japan to remit funds to family back home. Many subscribers are now expected to use the service for remittances to China and Thailand, two countries with vibrant economies.

    DOCOMO's overseas remittance service can be used via a web browser or iOSTM/AndroidTM app on a DOCOMO feature phone or smartphone. The service is available anytime, except between 3 a.m. and 6 a.m. JST. After registering, the user simply deposits cash into their docomo Kouza account at an ATM, bank or convenience store, or via Pay-easy, prior to making a remittance.

    About NTT DOCOMO

    NTT DOCOMO, Japan's leading mobile operator with over 76 million subscriptions, is one of the world's foremost contributors to 3G, 4G and 5G mobile network technologies. Beyond core communications services, DOCOMO is challenging new frontiers in collaboration with a growing number of entities ("+d" partners), creating exciting and convenient value-added services that change the way people live and work. Under a medium-term plan toward 2020 and beyond, DOCOMO is pioneering a leading-edge 5G network to facilitate innovative services that will amaze and inspire customers beyond their expectations. DOCOMO is listed on the Tokyo Stock Exchange (9437). https://www.nttdocomo.co.jp/english/.

    Contact:
    NTT DOCOMO International PR Public Relations Department Tel: +81-3-5156-1366 Fax: +81-3-5501-3408 URL: www.nttdocomo.com Contact: https://nes.nttdocomo.co.jp/PINQ01/showinquiry.do

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    - NEC's continuous innovation and commitment pays off -

    TOKYO, Dec 14, 2018 - (JCN Newswire) - NEC Corporation (TSE: 6701) has become the leading vendor in the global Call Control (PBX-IP PBX) extensions/licenses market(1), taking the top position as worldwide market leader in MZA's latest Call Control (PBX-IP PBX) report for Q3 2018.

    With a market share of 14%, NEC was ahead of all other companies in the report. "NEC showed continued strength in Asia Pacific with an extremely strong performance in the Japanese enterprise segment as well as strong share growth in North America. This assisted it achieving volume and market share growth to take the top position in calendar year Q3 2018," said Sam Carter, technology analyst, MZA.

    The success underscores the strength of NEC's portfolio of communications solutions, the company's commitment to expand its global enterprise communications footprint and the ability to serve customers worldwide.

    NEC offers a broad range of enterprise communications solutions - ranging from small to very large systems - that effectively support enterprise and SMB customers whose requirements span from traditional TDM to full IP and 100% software-based deployments.

    (1) The MZA global Call Control (PBX-IP PBX) report includes all premises-based and single-instance cloud systems sales, as well as multi-instance cloud systems sold to service providers/partners. Other cloud platforms, including multi-tenant, are excluded from this analysis.

    About MZA

    MZA specialises in the provision of marketing consultancy services to the telecommunications and IT industries at a European and global level, with expertise covering a wide range of enterprise communications solutions. The above information is based on an extract from our study, "The Global Telecommunications Market," widely regarded as the definitive study on communications markets. MZA provides detailed analysis services on the global, regional and key country enterprise communications markets including PBX/Call Control, Hosted/Cloud Telephony Services, UC Applications, Contact Centre and Business Mobility.
    www.mzaconsultants.com.

    About NEC Corporation

    NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. The NEC Group globally provides "Solutions for Society" that promote the safety, security efficiency and fairness of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, visit NEC at https://www.nec.com.

    Contact:
    NEC Seiichiro Toda s-toda@cj.jp.nec.com +81-3-3798-6511

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    BANGKOK, Dec 14, 2018 - (ACN Newswire) - Tactilis Pte. Limited, developers and manufacturers of a new biometric computer card technology, have entered an agreement for three pilot projects with the International Organisation of Migration (IOM), a related agency of the United Nations.

    The pilot activities will evaluate the concepts, performance and viability of biometric system-on-card technology when deployed in three different migrant and foreign worker environments, namely visa card, cross border card and migrant camp card. There are close to 260 million migrants globally, with 75 million of those across Asia, many of whom are undocumented or displaced and require resettlement with trusted identity credentials.

    The Tactilis card offers government grade biometric performance, multifunction capabilities and advanced management of user data and credentials. Aside from irrefutable identity verification, the card enables migrants to access multiple essential services in a simple and convenient way.

    Speaking at the 5th Border Management & Identity Conference in Bangkok, Thailand, Tactilis Founder & CEO, Michael Gardiner, explained that the new card technology could play a significant role in securing borders whilst protecting migrants and foreign workers rights.

    "We are delighted to work with IOM and honoured that our biometric card is recognised as an effective universal tool for global security and enables migrants' access to essential healthcare and remittance services."

    Donato Colucci, Senior Regional Immigration and Border Management Specialist for IOM's Regional Office for Asia-Pacific stated "Tactilis offers an exciting technology that we foresee could greatly assist our efforts to facilitate migrants, in particular foreign workers."

    He added "IOM continually seeks to leverage technology for the benefit of migrants and the governments that are hosting them. This type of biometric card complements and strengthens our existing and external tools and solutions based around mobile, blockchain, distributed ledger technology (DLT) and data management. We look forward to a successful collaboration with Tactilis."

    The initial three pilot programmes will be conducted in Asia and are planned to start deployment from Q1-2019.

    ABOUT TACTILIS

    Tactilis believes that living in a connected world is a good thing and offers simple, quick and easy-to-scale solutions that make it easier than ever to authenticate and manage identities, protect precious data and create trustworthy environments for citizens, businesses and government organizations. With extensive technological know-how and cutting-edge manufacturing processes, Tactilis helps you get the most out of the open world while securing your interests with just one fingerprint.

    To learn more about Tactilis and its products, contact:
    web: www.tactilis.com

    ABOUT IOM

    Established in 1951, IOM is the leading inter-governmental organization in the field of migration and works closely with governmental, intergovernmental and non-governmental partners. With 172-member states, a further 8 states holding observer status and offices in over 100 countries, IOM is dedicated to promoting humane and orderly migration for the benefit of all. It does so by providing services and advice to governments and migrants.

    IOM works to help ensure the orderly and humane management of migration, to promote international cooperation on migration issues, to assist in the search for practical solutions to migration problems and to provide humanitarian assistance to migrants in need, including refugees and internally displaced people.

    The IOM Constitution recognizes the link between migration and economic, social and cultural development, as well as to the right of freedom of movement.

    IOM works in the four broad areas of migration management:
    - Migration and development
    - Facilitating migration
    - Regulating migration
    - Forced migration.

    IOM activities that cut across these areas include the promotion of international migration law, policy debate and guidance, protection of migrants' rights, migration health and the gender dimension of migration.

    To learn more about IOM and its work, contact:
    web: www.iom.int

    Issued on behalf of Tactilis Pte. Limited by:
    Waterbrooks Consultants Pte Ltd
    Tel: +65 6100 2228

    For more information, please contact:
    Contact: Mr Ng Tian Khean / Ms Grace Choong
    Email: tk@waterbrooks.com.sg / grace@waterbrooks.com.sg

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    HONG KONG, Dec 14, 2018 - (ACN Newswire) - Daohe Global Group Limited ("Daohe Global" or the "Company", together with its subsidiaries, the "Group"; stock code: 915) has today announced the resignation of Mr. Yu Lei as an Executive Director and Chief Executive Officer ("CEO") and the appointment of Mr. Wong Hing Lin, Dennis, as the new CEO, both effective from 1 January 2019.

    The Board wishes to express its gratitude to Mr. Yu for his valuable contributions to the Company and extends a warm welcome to Mr. Wong for assuming the additional role of CEO, after being appointed as an Executive Director of the Company on 1 September 2010.

    Mr. Wong joined Daohe Global in 2006 and, having worked for more than 12 years with the Group, is very familiar with its operation. He is a member of the Executive Committee of the Board and a director of certain subsidiaries of the Group. He has been President of the Group since 5 February 2015 and was the Chief Financial Officer of the Group between January 2006 and January 2017.

    Mr. Wong has brought to the Group valuable insights and contributions through his in-depth knowledge gained in the supply chain management and financial industries. Prior to joining the Group, he was the head of the corporate development department of a Greater China-based supply chain management solutions provider and consumer products distributor, primarily responsible for business development, mergers and acquisitions and investor relations activities. Previously, Mr. Wong had worked at several major international financial institutions where he gained extensive experience in finance, investment and banking.

    With Mr. Wong at the helm, the Group believes the management team will continue to lead Daohe Global forward by developing its two major businesses, namely trading and supply chain management services and the operation of online social platforms, thereby creating optimum returns for its shareholders.

    About Daohe Global Group Limited
    Daohe Global Group Limited is an investment holding company listed on the Main Board of the Hong Kong Stock Exchange since 2002 (stock code: 915). The Group is mainly engaged in trading and supply chain management services and the operation of online social platforms. With a global presence in over 20 regions and a sourcing network throughout Asia, the Group offers comprehensive and efficient sourcing solutions and value-added services to its customers. Furthermore, the Group has begun the operation of online social platforms since 2017. Its online social products mainly comprise mobile applications, thereby providing various online social and entertainment services to a large number of individual users in the PRC. Daohe Global website: www.daoheglobal.com.hk



     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    WESTCHESTER, Ill., Dec 15, 2018 - (ACN Newswire) - Today, the Board of Directors of Ingredion Incorporated (NYSE: INGR) declared a quarterly dividend of $0.625 per share on the company's common stock. The dividend is payable on January 25, 2019, to stockholders of record at the close of business on January 2, 2019.

    About Ingredion

    Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2017 annual net sales of nearly $6 billion, the Company turns grains, fruits, vegetables and other plant materials into value-added ingredients and biomaterial solutions for the food, beverage, paper and corrugating, brewing and other industries. With Ingredion Idea Labs(R) innovation centers around the world and more than 11,000 employees, the Company develops ingredient solutions to meet consumers' evolving needs by making crackers crunchy, yogurt creamy, candy sweet, paper stronger, and adding fiber to nutrition bars. For more information, visit Ingredion.com.

    CONTACTS:
    Investors: Heather Kos, 708-551-2592
    Media: Becca Hary, 708-551-2602

    ###

    This announcement is distributed by West Corporation on behalf of West Corporation clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: Ingredion Incorporated via Globenewswire

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    StemLab CEO Donghoon Oh (Left) and Novotech CEO Dr John Moller (centre) at a recent client presentation in Asia-Pacific.
    SYDNEY, Dec 17, 2018 - (ACN Newswire) - Asia-Pacific specialist CRO Novotech announced as part of its ongoing IT infrastructure investment program that it has implemented the Oracle's Trial Management and Monitoring Cloud Service (TMMCS) to support its growth in the Asia-Pacific.

    Oracle Health Sciences VP of Services, David Tuckfield said Novotech will have the largest TMMCS implementation in the Asia-Pacific and is the first biotech-focused CRO in the region to go-live on Oracle's TMMCS technology in the cloud.

    "We are delighted to be able to implement Novotech's vision of next generation trial management," he added.

    Novotech, the recipient of the 2018 Frost & Sullivan Asia-Pacific Biotech CRO Company of the Year award for the 3rd consecutive year, has been operating in the Asia-Pacific for 22 years.

    Novotech CEO Dr John Moller said Novotech has always invested heavily in the latest technology. This ensures regulatory compliance, allows integration into global studies, and gives Novotech teams and clients better data visibility to improve decision-making.

    "Oracle's cloud technology provides a centralized trial database enabling improved access, control and governance of clinical data. The system is highly configurable allowing us to tailor process flows and alerts to client needs, as well as ensuring effective control on deviations. Advanced functionalities like eSignatures, and tools for swift approvals and submissions help us accelerate trial implementation."

    Novotech launched the migration project in partnership with Oracle Health Science Global Services in March 2018. Novotech has also invested in Oracle Argus for Medical Safety and Oracle Inform EDC.

    Novotech is a full service CRO with on-the-ground operations in Australia, New Zealand, South Korea, China, Taiwan, Philippines, Hong Kong, Singapore, Malaysia, Thailand and India with 550+ full-time employees.

    Novotech clinical staff numbers have grown by more than 20% in Asia over the last quarter, fueled by demand for a regional CRO with international accreditation and reputation, combined with local knowledge, partnerships and expertise.

    The CRO has extensive therapeutic area experience handling clinical studies with small and mid-size biotechnology companies across all phases of clinical trials - First-in-Human (FIH) studies to phase IV. Novotech has managed around 700 projects including the APAC component of pivotal trials for multiple FDA, EMA registered products since 2001

    Novotech has now signed 10 strategic collaborations with hospitals and research institutions in the Asia-Pacific region.

    About Oracle TMMCS
    Oracle Health Sciences Trial Management and Monitoring Cloud Service, enables effective management of critical clinical trial activities and improved relationships with investigators, from early to late-stage clinical trials. With real-time visibility into clinical trial progress and significant utilization rates of clinic and staff resources, this solution can help to lower costs, while increasing study speed and data quality. These services are part of the foundation for Oracle Health Sciences' integrated, holistic approach to risk-based monitoring.

    About Novotech - https://novotech-cro.com/welcome
    Headquartered in Sydney, Novotech is internationally recognized as the leading regional full-service contract research organization (CRO). With a focus on clinical monitoring, Novotech has been instrumental in the success of hundreds of Phase I - IV clinical trials in the Asia Pacific region.

    Novotech provides clinical development services across all clinical trial phases and therapeutic areas including: feasibility assessments; ethics committee and regulatory submissions, data management, statistical analysis, medical monitoring, safety services, central lab services, report write-up to ICH requirements, project and vendor management. Novotech's strong Asia Pacific presence includes running clinical trials in all key regional markets. Novotech also has worldwide reach through the company's network of strategic partners.

    For Media enquiries:
    communications@novotech-cro.com
    Susan Fitzpatrick-Napier, AU: +61 2 8218 2144
    USA: +1 415 951 3228, Asia: +65 3159 3427

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    TOKYO, Dec 17, 2018 - (JCN Newswire) - Eisai Co., Ltd. has entered into an agreement to grant exclusive development and marketing rights for its anti-obesity agent lorcaserin hydrochloride (generic name, product name in the United States: BELVIQ, product name for once-daily formulation in the United States: BELVIQ XR, "lorcaserin") in Brazil to Eurofarma Laboratorios S.A. Under this agreement, Eisai will supply Eurofarma with lorcaserin. Eisai will receive a one-time contractual payment and is eligible for milestone payments for sales in Brazil.

    In October 2018, Eisai signed an agreement to grant exclusive development and marketing rights for lorcaserin in 17 countries(1) in Latin America and the Caribbean, excluding Brazil.

    Lorcaserin is an anti-obesity agent that is believed to decrease food consumption and promote satiety by selectively activating serotonin 2C receptors in the brain. Lorcaserin was approved in 2012 by the U.S. Food and Drug Administration (FDA) as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 kg/m2 or greater (obese) or 27 kg/m2 or greater (overweight) in the presence of at least one weight-related co-morbid condition, and was launched in the United States in June 2013. Lorcaserin was approved in Brazil with the same indication as for the United States in December 2016.

    By granting exclusive development and marketing rights for lorcaserin in Brazil to Eurofarma as well, Eisai aims to leverage Eurofarma's strong business foundation throughout Latin America to accelerate the delivery of lorcaserin to more patients.

    (1) 17 countries: Argentina, Belize, Bolivia, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, Venezuela

    About lorcaserin hydrochloride (product name in the United States: BELVIQ, product name for once-daily formulation in the United States: BELVIQ XR, "lorcaserin")

    Discovered and developed by Arena Pharmaceuticals, Inc., lorcaserin is a novel chemical entity that is believed to decrease food consumption and promote satiety by selectively activating serotonin 2C receptors in the brain. Lorcaserin was approved in June 2012 by the U.S. Food and Drug Administration (FDA) as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 kg/m2 or greater (obese) or 27 kg/m2 or greater (overweight) in the presence of at least one weight-related co-morbid condition, and was launched in the United States under the brand name BELVIQ in June 2013 after receiving a final scheduling designation from the U.S. Drug Enforcement Administration (DEA). In addition, lorcaserin has been made available in South Korea, Taiwan and Israel via a third-party distributor. Lorcaserin was approved in Mexico in July 2016 and in Brazil in December 2016, with the same indication as for the United States. Furthermore, BELVIQ XR, a once-daily formulation of lorcaserin aiming to increase convenience of administration for patients, was approved in the United States in July 2016. In January 2017, Eisai acquired all of Arena's rights to develop and market lorcaserin.

    In August 2018, in a cardiovascular outcomes trial (CAMELLIA-TIMI61) of lorcaserin, a post-marketing clinical trial evaluating safety as the primary objective, it was confirmed that lorcaserin did not increase the incidence of major adverse cardiovascular events (MACE: defined as cardiovascular death, non-fatal myocardial infarction or non-fatal stroke) compared to placebo, and the primary safety objective was met. Regarding the primary efficacy endpoint of incidence of MACE+ (consisting of cardiovascular death, non-fatal myocardial infarction, non-fatal stroke, hospitalization due to unstable angina, heart failure or coronary revascularization), statistical non-inferiority compared to placebo was confirmed for lorcaserin. Data on the effect of lorcaserin on prevention and remission of type-2 diabetes mellitus was announced in October 2018.

    The most common adverse reactions observed in multiple Phase III clinical studies on lorcaserin were headache, dizziness, fatigue, nausea, dry mouth and constipation in patients without diabetes, and hypoglycemia, headache, back pain, cough and fatigue in patients with diabetes.

    About Overweight and Obesity in Brazil (Eisai's internal estimates)

    In recent years, obesity has become a major global health problem, with more than 1.4 billion adults worldwide believed to be overweight (BMI of 25 kg/m2 or greater) and approximately 500 million of that number qualifying as obese (BMI of 30 kg/m2 or greater). By region, around 170 million people in the United States and 150 million people in Europe are reported to fall into one or both categories, while in Asia, the overweight and obese population includes an estimated 100 million people in China and a further 25 million people in Japan.

    In Brazil as well, obesity is becoming a serious health issue, with the prevalence of obesity among adults being 22% of the overall population. Due to changes in lifestyle and other factors, the incidence of obesity is expected to continue to increase.

    About Eurofarma Laboratorios S.A. (Eurofarma)

    Founded in 1972, Eurofarma is one of the largest pharmaceutical companies in Brazil and is present in 20 countries in South and Central America, the Caribbean and Africa. In addition to Brazil, it has its own operations in Argentina, Bolivia, Chile, Colombia, Ecuador, Guatemala, Paraguay, Peru and Uruguay, and also sells products in Belize, Costa Rica, Dominican Republic, El Salvador, Honduras, Mexico, Nicaragua, Panama, Venezuela and Mozambique. Eurofarma's capabilities span from research and development to clinical trial execution to marketing and sales of in-licensed and wholly owned products. Eurofarma's mission is to promote access to health and quality of life with reasonably priced treatments while maintaining a profitable operation to assure sustainable growth and share the value generated with employees and society. To learn more about Eurofarma, please visit www.eurofarma.com.br

    About Eisai

    Eisai Co., Ltd. is a leading global research and development-based pharmaceutical company headquartered in Japan. We define our corporate mission as "giving first thought to patients and their families and to increasing the benefits health care provides," which we call our human health care (hhc) philosophy. With approximately 10,000 employees working across our global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to realize our hhc philosophy by delivering innovative products to address unmet medical needs, with a particular focus in our strategic areas of Oncology and Neurology.

    As a global pharmaceutical company, our mission extends to patients around the world through our investment and participation in partnership-based initiatives to improve access to medicines in developing and emerging countries.

    For more information about Eisai Co., Ltd., please visit www.eisai.com.

    Contact:
    Public Relations Department, Eisai Co., Ltd. +81-(0)3-3817-5120

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    HONG KONG, Dec 17, 2018 - (ACN Newswire) - In its continuing work with Ethfinex, Blockpass is pleased to announce that it is now helping to facilitate decentralised asset management as RigoBlock launches its ICO on Ethfinex's token sale platform. Created to streamline the ICO process for all parties, Ethfinex's platform utilises Blockpass' user-centric, verified identity profiles to enable compliance with global regulations. Thanks to the Blockpass-Ethfinex partnership, RigoBlock can safely and simply offer its Rigo Token ('GRG') to purchasers. The RigoBlock ICO launches on the 18th of December with a soft cap of US$2,000,000 and a hard cap of US$10,000,000 to realise this goal.

    Swiss-based RigoBlock has been designed to revolutionise the asset management industry, enabling anyone from any location to set up and manage a decentralised token pool in a manner that promotes transparency, control, flexibility and governance. Developers are able to build their own distributed asset management platforms on the RigoBlock protocol and utilise its capabilities. By creating a 'Proof of Performance' incentive algorithm, RigoBlock has removed the need for management fees, facilitating a new generation of asset management.

    Ethfinex seeks to provide quick and direct access to high-quality ERC20 crowdsales, whilst providing an information and discussion platform for users in order to allow them to optimise their trading experience. As a spin-off of Bitfinex, Ethfinex makes use of Bitfinex's trading engine and customer experience expertise to deliver the most highly liquid and advanced trading platform available for ERC20 tokens and crowdsales.

    Blockpass is a digital identity application and service that brings control of data back to the user. Blockpass provides a streamlined and cost-effective user onboarding process for regulated industries and any kind of online service. From the Blockpass application, users can create, store and manage their data-secure digital identity, which can be used to access an entire ecosystem of services or for token purchase.

    The digitisation of assets is expected to become mainstream in the near future and RigoBlock, Blockpass and Ethfinex are working at the forefront of technology to provide this in a regulated manner. This is the second ICO to be held on Ethfinex's token sale platform following its integration of Blockpass, with many more to come in the future. The first implementation was with privacy protocol Dusk at the end of November.

    Blockpass CEO, Adam Vaziri, commented: "We are excited to assist RigoBlock in improving asset management through our partnership with Ethfinex. Decentralised asset management is increasingly important as we begin to move to a tokenised economy. Transparency, flexibility and control are the hallmarks of blockchain technology and we are proud to support projects like RigoBlock which bring these types of user-centric solutions to the masses."

    Members of the Blockpass team are working on many more partnerships and integrations which will be announced, including further developments through the Blockpass-Ethfinex partnership. Check out updates from Blockpass, Ethfinex and RigoBlock to find out more details on this development and more in the coming weeks.

    About Blockpass IDN

    The goal of Blockpass IDN (http://www.blockpass.org/) is global realization of identity for the Internet of Everything. Through the use of blockchain technology and smart contracts, Blockpass is a production ready Regtech platform offering shared regulatory and compliance services for humans, businesses, objects and devices. As this identity system supports verification of humans (KYC), objects (KYO) and connected devices (KYD), it will enable the development of new applications that rely on a trusted connection between human, corporate, and device identities. Registered in Hong Kong, Blockpass IDN is a joint venture of Infinity Blockchain Labs and Chain of Things. Blockpass IDN licenses its technology from the non-profit Blockpass Foundation, registered in the Isle of Man.

    For more information and updates, please visit and sign up to the following:
    Promotional video: https://youtu.be/SvO2cw3e-SI
    Website: http://www.blockpass.org
    Medium: https://medium.com/@blockpass
    Twitter: https://twitter.com/BlockpassOrg
    Facebook: https://www.facebook.com/blockpassorg/
    Telegram: https://t.me/blockpass

    Contact: Caitlin Betts, +852 9733 4935, press@blockpass.org

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Offering innovative energy solutions globally by combining ABB's world-class power grids products, systems, software and service solutions and products with Hitachi's advanced digital technology

    TOKYO, Dec 18, 2018 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501) has decided to acquire the world-leading power grids business from ABB Ltd (NYSE:ABB) and has signed an agreement with ABB. Hitachi plans to initially acquire an 80.1% stake in the power grids business and expects to close the acquisition in the first half of 2020, making power grids a consolidated subsidiary. Hitachi has entered into a purchase option to acquire the remaining 19.9% stake in Power Grids, making Power Grids a wholly-owned subsidiary.

    As a result of this agreement, Hitachi will offer innovative energy solutions globally by combining ABB's world-class grids offering including advanced digital grid solutions with Hitachi's digital technology. In addition, Hitachi aims to build an energy platform that connects various fields such as mobility, life and industry. Hitachi will expand provision of the platform to, and collaborative creation using it with ABB's broad range of customers to promote more efficient use of electricity throughout society and empower and grow the Social Innovation Business.

    The power grids market is rapidly expanding driven by increasing adoption of renewable energy, rising energy demand and supply in emerging countries, the expansion of distributed power sources such as electric vehicles and storage batteries, deregulation of the electric power sector in countries and regions, and advances in electric power system reform. The market is forecasted to reach more than US$100 billion (approx. JPY11 trillion)(1) by 2020, at a steady annual growth rate of 4% or above for the period from 2017 to 2020(1). In particular, advanced energy management systems to optimize supply of, storage and control energy using digital technologies are growing rapidly as well as innovations in grid systems for next generation transmission network, which contributes to the formation of more flexible energy infrastructure addressing promotion of renewable energy and regional characteristics.

    ABB's power grids business operates four segments, all of which are global market leaders: "Grid Automation" provides protection control system and remote monitoring control systems to realize grid network stabilization, and management systems for supply and demand electricity market for trading electricity; "Grid Integration" includes digital substation, system integration and service solutions, High Voltage Direct Current (HVDC) systems, and power semiconductors; "High Voltage Products" includes Gas Insulated Switchgear (GIS); and "Transformers" includes power, distribution and transaction transformers for railways.

    For example, in the HVDC market expanding with the increased application of renewable energy, ABB has undertaken around 120 HVDC projects representing a total installed capacity of more than 130,000 megawatts, which accounts for about half of the global installed base and possesses the most advanced technologies being able to design and manufacture most key products in-house. Moreover, ABB's power grids business is known for its well-established global customer base in various utilities and industries which include companies operating in railways, natural resources such as oil, and IT as well as major electric power companies. ABB power grids' revenues totaled US$10.0 billion (approx. JPY1.1 trillion)(2) for 2017, and operational EBITA(3) was approx. US$ 1 billion (approx. JPY110.7 billion) for 2017. The division has approx. 100 manufacturing bases, approx. 200 sales locations, and around 36,000 employees globally.

    In order to accelerate the collaborative creation with customers in the Social Innovation Business, Hitachi, as "an innovation partner for the IoT era" is strengthening solutions utilizing "Lumada"(4) which has accumulated Hitachi's experience in OT x IT x Products, as well as empowering the formation of global organization and front-line functions. In particular, Hitachi has identified the Power and Energy business as one of the core pillars of the Social Innovation Business which supports building social infrastructures attributing to the realization of the Sustainable Development Goals (SDGs) and a promising society advocated in Society 5.0.
    In December 2014(5), Hitachi entered into a strategic partnership agreement with ABB and formed a joint venture for HVDC operations in the Japanese market in November 2015(6) and jointly offers solutions to reform the power systems for domestic electric power companies.

    With the acquisition of the ABB power grids business, Hitachi will offer innovative energy solutions business globally by combining ABB's world-leading grids solutions and products with Hitachi's digital technology. Furthermore, by building an energy platform to realize more efficient use of electricity throughout society, Hitachi aims at expanding its Social Innovation Business not only in the Power and Energy area, but also in areas such as mobility (railways and electric vehicles etc.), life (smart-city and buildings etc.) and industry (manufacturing facilities and plants etc.), and at providing a wide range of customers with innovative energy solutions.

    "Today's agreement between ABB and Hitachi is a significant turning point in the global power and energy markets at a time when digital technology is fundamentally changing our society and the pattern of energy demand and supply is diversifying. Hitachi will combine ABB's strengths in the power grids business with our digital technology to build an energy platform that contributes to innovating the energy business. This creates further innovation for business fields such as life and industry and helps us address society's issues and improve quality of life," said Toshiaki Higashihara, President & CEO of Hitachi, Ltd.

    "The combination of ABB's power grids business with Hitachi positions power grids business for a successful long-term future as a globally leading infrastructure business. We crystallize the value we have built through the transformation of the last years and focus new ABB on digital industries. ABB's power grids business will strengthen Hitachi as global leader in energy infrastructure and Hitachi will strengthen the position of ABB's power grids business as a global leader. Our shareholders will directly benefit through the return of the proceeds of the divestment. Building on our existing partnership announced in 2014, the initial joint venture will provide continuity for customers and our global team," said Ulrich Spiesshofer, CEO of ABB.

    Hitachi and ABB agreed to the enterprise value of the company operating power grids business separated from ABB as US$11 billion. The purchase price of 80.1% stake is expected to be approx. US$6.4 billion (approx. JPY704.0 billion) after deducting debt like item from the enterprise value. The final price will be determined after customary adjustments for net working capital and net debt based on the actual amounts at the closing date.

    For the transaction, Hitachi has been assisted by UBS as sole lead financial advisor, and Goldman Sachs Japan Co., Ltd. as financial advisor.

    (1) based on Hitachi's analysis
    (2) Calculations based on US$1=JPY110.
    (3) Operational EBITA: a key performance indicator used by ABB. See ABB's Form 20-F for details.
    (4) Hitachi's solution to accelerate digital innovation
    (5) News release "ABB and Hitachi to form strategic power grid partnership for HVDC in Japan" announced on December 16, 2014.
    (6) News release "Hitachi ABB HVDC Technologies, Ltd. commences business operations for HVDC in Japan" on October 15, 2015.

    About Hitachi, Ltd.

    Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

    Contact:
    Hitachi Ltd Corporate Communications Tel: +81-3-3258-1111

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Tokyo and New York, Dec 18, 2018 - (JCN Newswire) - Bristol-Myers Squibb Company (NYSE: BMY), Eisai Co., Ltd. and its U.S.-based precision medicine research & development subsidiary H3 Biomedicine, Inc. has announced a multi-year research collaboration focused on evaluating whether novel therapeutics leveraging H3's RNA splicing platform can provide a more powerful response against cancer.

    The new collaboration will explore modulating RNA splicing to develop potential first-in-class therapies that would direct the immune system to target cancer cells and help more patients experience the benefits of immunotherapy.

    Under the terms of the multi-year agreement, H3 and Bristol-Myers Squibb will jointly conduct the research focused on developing immune therapies using H3's RNA splicing platform. Bristol-Myers Squibb will be responsible for development and commercialization of selected compounds, and H3 is eligible to receive an upfront payment, development, regulatory and sales milestones as well as certain royalties according to sales revenue after launch. Eisai retains an option to co-develop and co-commercialize certain compounds that emerge from the collaborative research effort.

    "We are excited to enter into this collaboration with Bristol-Myers Squibb, as we share a mutual commitment to discover and develop innovations that will help improve outcomes for patients," said Lihua Yu, Ph.D., president and chief data sciences officer at H3. "We have already advanced the first application of our RNA splicing platform into the clinic and look forward to building on that track record with research on this potential new immuno-oncology application together with Bristol-Myers Squibb, a leader in immuno-oncology. We believe this collaboration will help us better understand whether our RNA splicing platform can help enhance the immune system's ability to more effectively fight cancer."

    "Bristol-Myers Squibb is looking forward to collaborating with H3 to advance the science and research around RNA splicing," said Percy Carter, head of Discovery Chemistry and Molecular Technologies, Bristol-Myers Squibb. "H3 has deep expertise in defining the role of changes in RNA homeostasis that contribute to cancer. This collaboration will allow both companies to gain a deeper understanding about alterations in RNA splicing and an opportunity to discover new medicines that can potentially improve outcomes for patients."

    "Since its inception, H3 has discovered potential new therapeutic options that leverage breakthroughs from cancer genomics and biotechnologies. We're very proud of this new research collaboration with Bristol-Myers Squibb, as it represents another critical milestone for H3 and an opportunity for patients," said Terushige Iike, president, Oncology Business Group at Eisai and chief executive officer at H3.

    About Bristol-Myers Squibb

    Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol-Myers Squibb, visit us at BMS.com.

    About H3 Biomedicine

    H3 Biomedicine, Inc., a Cambridge, Massachusetts-based biopharmaceutical company specializing in the discovery and development of precision oncology treatments using its integrated data science, human biology and precision chemistry discovery engine with the goal of improving the lives of patients. The company was established on December 2010 as a subsidiary of Eisai's U.S. pharmaceutical operation, Eisai Inc. H3 Biomedicine focuses on sustained long-term delivery of its pipeline, collaborating with Eisai Co., Ltd., who provides essential research funding and access to the capabilities and resources of a global pharmaceutical company. For more information, please visit www.h3biomedicine.com.

    About Eisai

    Eisai Co., Ltd. is a leading global research and development-based pharmaceutical company headquartered in Japan. We define our corporate mission as "giving first thought to patients and their families and to increasing the benefits health care provides," which we call our human health care (hhc) philosophy. With approximately 10,000 employees working across our global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to realize our hhc philosophy by delivering innovative products to address unmet medical needs, with a particular focus in our strategic areas of Oncology and Neurology.

    As a global pharmaceutical company, our mission extends to patients around the world through our investment and participation in partnership-based initiatives to improve access to medicines in developing and emerging countries.

    For more information about Eisai Co., Ltd., please visit www.eisai.com.

    Contact:
    Bristol-Myers Squibb Carrie Fernandez 609-302-4342 carrie.fernandez@bms.com H3 Biomedicine, Inc. Liz Melone 617-256-6622 elizabeth_melone@h3biomedicine.com Eisai Co., Ltd. Public Relations +81-(0)3-3817-5120

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    WARC Global Advertising Trends - TV at a crossroads

    LONDON, Dec 18, 2018 - (ACN Newswire) - Linear TV, inclusive of real time and catch up viewing, remains by far the top medium for global display advertising spend, attracting over $140bn ad investment in 2018 - more than double mobile internet in second place on $58bn.

    Linear TV's core strength is reach, and whilst daily viewing time has fallen worldwide in recent years - coinciding with the steady rise in internet penetration - advertiser demand has not diminished.

    As the industry looks ahead, despite the challenges, addressable TV - the ability to show different ads to different households based on consumer data - may be where future growth lies.

    TV continues to dominate global display adspend but its share is falling

    Linear TV is estimated to have accounted for 41.9% of the total display advertising investment this year, or $140bn, in WARC's 12 key markets -Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Russia, UK and US. This represents a rise in spend of 1.0% from 2017 and a share 25.1 percentage points (pp) ahead of the second-largest display medium, mobile internet.

    However, linear TV's dominating position has been eroding since 2009, mostly at the expense of mobile, which has grown 16.6pp since then.

    TV's reach is unparalleled, making it high in demand from advertisers despite viewing times decreasing

    TV's core strength is reach, and its function to facilitate top-of-funnel building, which it does far more effectively than other media, especially over the long-term. Data collated by The Global TV Group from national monitoring organisations show that TV reaches 96% of individuals in key markets each month, and 71% each day on average.

    But daily time spent viewing linear TV has fallen worldwide in recent years - it registered one hour 54 minutes during the first half of 2018, down four minutes from 2017 and 21 minutes from 2012 - coinciding with a steady rise in internet penetration.

    The decline in linear viewing has not, however, led to a reduction in advertiser demand. This has driven up spot cost-per-thousand (CPM) in all key markets this year, ranging from rises of 14% in India, 4% in the US, 2% in the UK to 1% in Japan.

    TV takes almost two-thirds of brands' successful, high-budget campaigns

    WARC's Media Allocation Report, which draws from campaign data from over 15,000 case studies, shows that successful, high-budget campaigns invest more in TV while the proportion of budget allocated to digital decreases. Globally, successful brands in the alcoholic drinks and financial services sectors are the biggest spenders on TV.

    In the UK, research has shown that, in the long-term (over three years), TV advertising is responsible for 71% of total ad-generated profit and in the short-term (three to six months), TV ads are responsible for 62%. In both cases, TV accounts for the largest share of profit when compared to other media.

    TV's effectiveness is undervalued

    Despite research by the Advertising Research Foundation (ARF) showing that sales returns dip $3 for every $1 reduction in TV advertising, and data from Ebiquity showing that TV ranks as the #1 most effective ad medium, 32% of brands responding to WARC's recent Marketer's Toolkit survey stated they intend to cut TV investment in 2019. Just under half (49%) intend to retain current levels of investment, while only 18% plan to increase TV spend.

    Addressable TV will bring new challenges to the planning process

    Smart and connected TV penetration reached 35.2% worldwide in 2018, paving the way for forays into addressable TV.

    Whilst still in its infancy, addressable TV technology gives advertisers the ability to leverage user data to combine TV's reach with an expanded relationship to sales and lower-funnel KPIs.

    But research shows that US viewers are largely unwilling for their personal data to be collected to facilitate such advertisements. Other concerns include measuring addressable TV's ROI accurately, and brands will need to weigh the benefits of its efficiency and frequency against increased media and creative costs.

    James McDonald, Data Editor, WARC, summing up, says: "TV is a stalwart of the advertising industry, used to deliver effective brand building campaigns with positive ROI to a mass, engaged audience.

    Addressable TV will be the next stage of evolution, though the $1bn spent worldwide this year is a fraction of total TV investment. As live TV still accounts for the majority of daily video consumption, the lure for advertisers is leveraging consumer data to get the right message in front of the right people at the right time."

    Global media analysis: A round-up of TV

    - 10.0% addressable share of TV ad impacts by 2022
    - 41.9% TV's share of global display advertising spend
    - 56.4% live TV's share of total daily video viewing in the UK
    - 61.5% US consumers unwilling to have their personal data collected for more relevant TV advertising
    - 62.0% TV's allocation in successful high-budget (10m+) campaigns
    - 71.0% proportion of long-term advertising-generated profit by TV

    Other new key media intelligence on WARC Data

    - Brands set to question Snapchat and Twitter in 2019
    - FAANG brands have increased their TV spend by more than $1billion
    - YouTube engagements push Google CPCs to new low
    - One-quarter of Netflix subscribers might leave if ads were introduced

    Global Ad Trends is part of WARC Data (www.warc.com/data), a dedicated online service featuring current advertising benchmarks, data points, ad trends and user-generated expanded databases.

    Aimed at media and brand owners, market analysts, media, advertising and research agencies as well as academics, WARC Data provides current advertising and media information, hard facts and figures - essential market intelligence for ad industry related business, strategy and planning required in any decision making process.

    WARC Data is available by subscription only. For more information visit https://www.warc.com/data

    About WARC

    - Your global authority on advertising and media effectiveness

    warc.com is an online service offering advertising best practice, evidence, insights and data from the world's leading brands. WARC helps clients grow their businesses by using proven approaches to maximise advertising effectiveness. WARC's clients include the world's largest advertising and media agencies, research companies, advertisers, market analysts and academics.

    WARC runs two global and two regional case study competitions: WARC Awards, WARC Media Awards, WARC Prize for Asian Strategy and WARC Prize for MENA Strategy.

    WARC publishes three global rankings of advertising excellence: Gunn 100 (creativity), WARC 100 (effectiveness), Gunn Media 100 (media innovation) and publishes leading journals including Admap, Market Leader, the Journal of Advertising Research and the International Journal of the Market Research Society. In addition to its own content, WARC features advertising case studies and best practices from more than 50 respected industry sources, including ARF, Effies, Cannes Lions, ESOMAR and IPA.

    Founded in 1985, WARC has offices in the UK, U.S. and Singapore. In June 2018 WARC was acquired by Ascential plc, the global specialist information company.

    Contact:
    Amanda Benfell PR Manager +44 20 7467 8125 amanda.benfell@warc.com

    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Toyota City, Japan, Dec 18, 2018 - (JCN Newswire) - Toyota arrived at Toyota South Africa's Duran Plant last month, and so finished the Africa stage of its 5 Continents Drive Project. Launched in 2014, the project has now covered four of the world's continents. From spring 2019, the project will move to Asia and embark on the final stage of the project, starting in the Middle East.

    In addition to Toyota employees, members from SUZUKI MOTOR CORPORATION, Hino Motors Ltd., and TOYOTA AUTO BODY Co., Ltd. also participated in the Africa stage of the project; a total of 76 people covered 10,600 kilometers over a period of two months. The team drove across Africa's diverse and wide-ranging roads, where they experienced first-hand the harsh conditions in which vehicles were used and listened to direct feedback from African customers. As a result, team members were moved to consider what it meant to make "ever-better cars," exchanged views with their colleagues, and devoted themselves to thinking about cars.

    Driving across a variety of harsh, unpaved roads beset by severe unevenness, sharp stones, corrugated road surfaces, and desert, the team was made to recognize the value of reliability, durability, and comfort. Even on paved surfaces, Africa presented a unique road environment: long straights, frequent animal crossings, large potholes that appear out of nowhere, speed bumps, and overtakes by large numbers of heavy, overloaded trucks. These circumstances impressed upon the team the importance of braking performance, high-speed stability, and power and torque.

    The 5 Continents Drive Project is a genchi genbutsu project (where employees go to the source to get the facts) carried out under the umbrella of TOYOTA GAZOO Racing(1). Toyota employees from Japan team up with local affiliates, take the wheels of the cars themselves, and drive the roads used daily by their customers. By participating in the project, team members increase their knowledge of the world's roads, listen to customer feedback, encounter global cultures first-hand, and together find solutions to numerous problems and challenges. Such experiences enable them to hone their intuition for making ever-better cars in a manner that cannot be replicated at a desk or on test courses, and thereby contribute to the development of human resources.

    The 5 Continents Drive Project commenced in Australia in 2014, then moved to North America in 2015, Latin America in 2016, Europe in 2017, and Africa in 2018. Since the project started, 556 members from inside and outside Japan have covered a total of 99,600 kilometers over a period of 399 days.

    Based on the knowledge they have acquired through genchi genbutsu, participating members have shown a desire to proactively drive Toyota's creation of ever-better cars forward. Indeed, some of the feedback from participants includes: "My experiences led me to review our vehicle evaluation items, and I have also taken advantage of them in my daily work"; "I rediscovered a sense of pride and responsibility in car-making"; "When making ever-better cars, I realized the importance of not being too focused on one's own functions, and of thinking of the vehicle as a whole"; and "The project has taught me that there is a gap between what I feel and what our customers feel--it has made me more attentive to customer feedback and reexamine what they have to say in a more impartial manner."

    In spring 2019, Toyota will move to Asia and embark on the final stage of the 5 Continents Drive Project, starting in the Middle East.

    Message from Akio Toyoda (Toyota Motor Corporation President)

    I am relieved to see that all the members who participated in this year's Africa stage of the 5 Continents Drive Project have returned in good health. To those of you who participated: Thank you for your hard work, and thank you for returning safe and sound.

    The 5 Continents Drive Project was launched in 2014. Our motivation was for Toyota to become a company that makes ever-better cars and, to do this, we realized that we would have to better understand the world's roads.

    At the beginning of the project, the core members of the team were from our technology divisions; over the course of the project's five years, however, members from a variety of other divisions--including our sales, purchasing, labor relations, and accounting divisions--have also taken part. An increasing number of younger employees have participated as well. The number of participants from our overseas affiliates has also grown. There is a strong sense that the circle of people who are undertaking the task of making ever-better cars with sincerity has now expanded across boundaries to include those from a wide range of divisions, positions, roles, and nationalities.

    I, too, have played a part in this project, having driven roads on each of the continents we have visited. This year, I took the opportunity to participate in driving tests for the TOYOTA AUTO BODY Co., Ltd. Team Land Cruiser, the team taking part in the Dakar Rally, and in Morocco I drove across the desert for the first time ever.

    On numerous occasions I got stuck in the middle of the desert, unable to move forward or backward; and the more I accelerated, the more the Land Cruiser I was driving sank into the sand.

    In such diverse environments, car breakdowns pose unique challenges, possibly being life-or-death situations. The members who returned from the 5 Continents Drive Project drove across various roads in Africa, and likewise reported having such experiences of realizing just how important cars are.

    In every division, and in every role, the mission of Toyota employees remains the same: to create ever-better cars.

    No matter if you are the president or a new recruit, whether you are an engineer, work on the shop floor, or in administration--there are no boundaries, and your mission does not change.

    All the work you have carried out in an everyday manner--I would now like you to recall your experiences on African roads, and use that as you do your work. In doing so, you will become more expert at every job you do, and come closer to accomplishing Toyota's aim of truly making our customers happy and of making ever-better cars.

    Also, if the jobs of those who participated in the project change, then the jobs of those around them will also begin to change. It may not be overly exciting, but I believe that in this way Toyota will evolve into a company that makes ever-better cars. To everyone who participated in the project: I hope you will do your best, and I look forward to seeing the results of your efforts.

    The Africa stage of the 5 Continents Drive Project was not carried out by Toyota alone; this time, we drove together with participants from SUZUKI, Hino Motors, and TOYOTA AUTO BODY.

    These companies are partners who share the same vision of creating ever-better cars that put a smile on the faces of our customers, and who have a desire to shape the future of mobility. Naturally, there are no boundaries here, either.

    Together, we have gained an understanding of the severity of roads, and have listened to the voices of our customers. These experiences will benefit us all in the future. Together, let us promote the creation of ever-better cars. And, let us seek to build a future in which as many of our customers as possible can find happiness.

    Akio Toyoda, President, Toyota Motor Corporation

    (1) Toyota has participated in racing, which exposes cars to extreme conditions, as a way to "develop people." Indeed, it believes that motorsports activities are the key to making ever-better cars.

    About Toyota Motor Corporation

    Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

    Contact:
    Public Affairs Division Global Communications Department Toyota Motor Corporation Tel: +81-3-3817-9926

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Accelerating the "Changing the World with 8K and AIoT" Business Vision Worldwide

    TOKYO, Dec 18, 2018 - (JCN Newswire) - Sharp will take part in Consumer Electronics Show (CES) 2019 in Las Vegas, Nevada, United States. To be held from January 8-11, 2019, CES is one of the world's largest consumer electronics trade shows. Sharp will have a booth in the Central Hall, marking the first time in four years since Sharp set up a full-scale exhibit at CES.

    Based on its business vision of "Changing the World with 8K and AIoT," Sharp will equip its booth with four areas dedicated to 8K, AIoT(1), home, and business. Visitors will experience firsthand an "8K Ecosystem" built upon 8K-related equipment, devices, and solutions and "AIoT Solutions" driven by AIoT home appliances, robotics, sensors, and other devices. Moreover, they will be provided with home and B2B scenarios in which to try out the state-of-the-art devices and solutions that have made Sharp an industry leader.

    Sharp's incorporation of its pioneering 8K technology into an 8K Ecosystem and AIoT Solutions, like the COCORO+ service, have thus far focused on the Japanese market. From here on, Sharp is expanding and accelerating this development on a global scale.

    Location of Sharp Booth
    16006, Central Hall, Las Vegas Convention Center (Nevada, USA)

    (1) AIoT: A word coined by Sharp, combining the words AI (artificial intelligence) and IoT (Internet of things). AIoT is a vision of how all kinds of products will connect to artificial intelligence via the cloud and become a people-oriented existence. AIoT is a registered trademark of Sharp Corporation.

    About Sharp Corporation

    Sharp Corporation (TSE: 6753) is a worldwide developer of innovative products and core technologies that play a key role in shaping the future of electronics. As a leader in liquid crystal displays (LCDs) and digital technologies, Sharp offers one of the broadest and most advanced lines of consumer electronics, information products and electronic components, while also creating new network businesses. For more information, please visit www.sharp.co.jp

    Contact:
    Miyuki Nakayama Tokyo Public Relations and Media Liaison Office Sharp Corporation Tel: +81-3-5446-8205 Fax: +81-3-5446-8206

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    TOKYO, Dec 18, 2018 - (JCN Newswire) - Mitsubishi Corporation (MC) has entered into agreements to sell its two thermal coal assets held by Mitsubishi Development Pty Ltd, its wholly owned subsidiary headquartered in Brisbane, Australia(1). The total sale value of the assets is A$750 million.

    The sales are subject to the terms of the Clermont joint venture documents, under which other joint venture participants hold pre-emptive rights, and fulfillment of other conditions, including certain regulatory approvals. The completions of the sales are expected in 2019.

    MC has been taking steps to optimize its asset portfolio. The divestment of the assets is one part of this strategy.

    (1) Details of Sale Assets and Respective Purchaser

    Sale Asset 1: 31.4% interest in Clermont Coal Mine located in Queensland
    Purchaser: GS Coal Pty Ltd, a jointly controlled entity owned 50:50 by Glencore and Sumitomo Corporation

    Sale Asset 2: 10% interest in Ulan Coal Mine located in New South Wales
    Purchaser: Glencore Coal Pty Ltd, wholly-owned subsidiary of Glencore

    About Mitsubishi Corporation

    Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.

    Contact:
    Mitsubishi Corporation Telephone: +81-3-3210-2171 Facsimile: +81-3-5252-7705

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Lucian Boldea to lead Chemical Intermediates

    KINGSPORT, Tenn., Dec 18, 2018 - (ACN Newswire) - Eastman Chemical Company (NYSE:EMN) today announced that, after more than 38 years of service, Damon C. Warmack, senior vice president, Corporate Development and Chemical Intermediates, will retire mid-year in 2019.

    "On behalf of the Executive Team, I want to thank Damon for his significant contributions to Eastman for nearly four decades," said Eastman Board Chair and Chief Executive Officer Mark J. Costa. "He has had an extraordinary career. I am personally very grateful for his pragmatic leadership of Chemical Intermediates, as well as his vital role in the portfolio transformation that has been foundational to executing our strategy to become a leading specialty materials company. Damon's vast experience, exemplary leadership, strategic thinking and unique perspectives have made him a valuable member of our Executive Team. All of us at Eastman wish him a long and happy retirement."

    Effective January 1, 2019, Dr. Lucian Boldea, currently Senior Vice President, Additives & Functional Products, will become an Executive Vice President and assume leadership of Chemical Intermediates in addition to his current responsibilities. Mr. Warmack will continue to serve on the Executive Team as Senior Vice President, Corporate Development during the transition of leadership of the Chemical Intermediates business and until his retirement.

    "We are fortunate to have Lucian as a proven and experienced leader ready to assume these additional leadership responsibilities," added Costa. "Given Damon's and Lucian's close working relationship, I am confident that this will be a smooth transition and look forward to the results of closer alignment of Additives & Functional Products and Chemical Intermediates."

    Eastman is a global advanced materials and specialty additives company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in more than 100 countries and had 2017 revenues of approximately $9.5 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. For more information, visit www.eastman.com.

    Contacts:
    Media: Tracy Kilgore Addington
    423-224-0498 / tracy@eastman.com

    Investors: Greg Riddle
    212-835-1620 / griddle@eastman.com

    warmack: http://hugin.info/150386/R/2229327/875778.jpg
    boldea: http://hugin.info/150386/R/2229327/875779.jpg

    ###

    This announcement is distributed by West Corporation on behalf of West Corporation clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: Eastman Chemical Company via Globenewswire

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    SEATTLE, WA, Dec 19, 2018 - (ACN Newswire) - via NEWMEDIAWIRE -- CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Creso Pharma Ltd. (ASX: CPH), a small-cap company founded in 2016 that has amassed one of the most experienced management teams in the cannabis industry. By bringing together experts across pharmaceutical, cannabis, and investment banking industries, the company is well positioned to execute on its unique approach to the market and become a leading provider of cannabis to people and animals worldwide.

    The due diligence process looks very different for small-cap versus large-cap stocks. When analyzing large-cap companies, investors pay closest attention to financial statements and valuation ratios to extrapolate growth rates and apply multiples. Small-cap stocks tend to be earlier stage companies without an established earnings track record, which means that investors must consider the management team above all else.

    In this article, we will take a closer look at the company's management team and advisory board, as well as how their expertise have helped drive progress.

    Click here to receive the investor presentation and going public alert http://promo.cfnmedia.com/cresopharma

    Experienced Management Team

    Many investors in small-cap companies look for experience in both operational areas and investment banking when conducting due diligence. After all, public companies must both execute their business plan and deal with the ins and outs of being publicly traded.

    Creso Pharma was founded by three individuals with extensive experience spanning the global pharmaceutical, medical cannabis, and investment banking industries:

    * Creso Pharma CEO, Co-Founder, and Executive Director Dr. Miri Halperin Wernli, PhD, MBA, has over 25 years of strategic and operational leadership in global drug and product development in the pharmaceutical and biomedical industries.

    * Non-Executive Chairman and Co-Founder Boaz Wachtel is a leading medical cannabis expert that formerly managed Phytotech Medical - Australia's first publicly-traded medical cannabis company.

    * Non-Executive Director and Co-Founder Adam Blumenthal has over ten years of experience in investment banking and corporate finance. He has deep experience in both Australian and international markets, having helped raise capital and finance several listed and unlisted companies, including several medical cannabis firms.

    These co-founders are joined by Chief Operating Officer John Griese - an expert in cannabis and food manufacturing and supply chain management. Over the past 30 years, he has worked with companies like Pepsi and Nestle in executive roles. More recently, he developed cannabis experience as Chief Operating Officer of Bloom Farms - a large branded manufacturer and distributor in California's regulated market.

    Strong Advisory Board

    Advisory boards are equally important to investors, especially in tightly-regulated industries. Board members can provide tremendous insights into everything from navigating regulatory red-tape to developing innovative new products.

    Creso Pharma has developed a strong advisory board across these areas:

    * Dr. Isaac Kobrin, MD, is an internist with more than 15 years of experience in the United States and Israel. He also has over 22 years of experience in the pharmaceutical industry in Roche and Actelion, where he was responsible for the development of key compounds.

    * Dr. Stephane Redey, PhD, has over 18 years of experience leading teams in the technical development of innovative drugs and strategic outsourcing. He has held senior positions with pharmaceutical companies in Switzerland and Australia.

    * Dr. Raquel Peyraube, MD, has over 28 years of experience in training, prevention, treatment, and harm reduction, while also consulting on drug policy reform in Latin America.

    * Prof. Dr. Felix Gutzwiller, MD, MPH, PhD, has served as a professor at the University of Basel and a professor of Social and Preventive Medicine at the University of Zurich, Emeritus since 2013.

    * Dr. Gian Trepp ETH, MBA, IMD, is a senior pharmaceutical marketing executive with over 18 years of strategic and operational leadership. In addition to holding senior roles at global companies, he founded GBT Pharma, UK.

    * Jorge Wernli ETH, MBA, IMD, is an expert in market access, pricing reimbursements, and government affairs with more than 30 years of experience working with startups and large pharmaceutical companies. He has built relationships across Europe, South America, and several Asian countries.

    * Prof. Dr. Walter P. von Wartburg is an attorney at law with international experience in the areas of health and communication PR. For over 20 years, he has provided legal, communication, and issues management advice to biotech and life science firms.

    Looking Ahead

    Creso Pharma Ltd. (ASX: CPH) has made tremendous progress in its mission to bring pharmaceutical rigor to the cannabis industry under this leadership. Over the past two years, the company acquired several cannabis assets, listed on the ASX (and soon TSX-V), and began generating early revenue through cultivation and product development. Investors may want to keep an eye on the stock given management's proven execution.

    For more information, visit the company's website or click here to receive the investor presentation and going public alert http://promo.cfnmedia.com/cresopharma

    Please follow the link to read the full article:
    http://www.cannabisfn.com/?p=2105050&preview=true

    Disclaimer
    The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

    CFN Media About Us

    For Visitors and Viewers
    CFN Media's Cannabis Financial Network (CannabisFN.com) is the destination for savvy investors and business people profiting from the worldwide cannabis industry. Viewers will see breaking news, exclusive content and original programming involving the people, companies and investments shaping the industry.

    For Cannabis Businesses & Companies
    CFN Media is a leading agency and financial media network dedicated to the cannabis industry. We help private, pre-public and public cannabis companies in the US and Canada attract capital, investors and media attention.

    Our powerful digital media and distribution platform conveys a company's message and value proposition directly to accredited and retail investors and national media active in the North American cannabis markets.

    Since 2013, CFN Media has enabled the world's preeminent cannabis companies to thrive in the capital and public markets.

    Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

    Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

    Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

    Disclaimer
    CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the 'Site') is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.

    The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

    Frank Lane
    206-369-7050
    flane@cannabisfn.com

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

    0 0

    BOSTON, Dec 19, 2018 - (ACN Newswire) - Catastrophe risk modeling firm AIR Worldwide estimates that the direct cyber incident losses for the Marriott breach will be between USD 200 million and USD 600 million. AIR's loss estimates are based on the assumption that 500 million records were stolen, as Marriott has reported. The range of loss estimates reflects the uncertainty about the data that was stolen, e.g., while credit card data was stolen, it was encrypted; however, the encryption key itself may have been stolen as well. There is additional uncertainty, as some of these records may be duplicates. AIR Worldwide is a Verisk (Nasdaq:VRSK) business.

    "AIR's new probabilistic security breach model shows that this type of event is not unprecedented, even though an event of this magnitude hasn't previously happened to a hotel chain," said Scott Stransky, assistant vice president and director of emerging risk modeling, AIR Worldwide. "In fact, the largest recorded breach for a U.S.-based hotel chain prior to this event was less than 1/50 the size in terms of the number of records stolen. There are more than 300 simulated events in our model that cause higher losses for U.S.-based hotels."

    As of December 8, 2018, Marriott has shared the following information on its website: On September 8, 2018, Marriott received an alert from an internal security tool regarding an attempt to access the Starwood guest reservation database. Marriott quickly engaged leading security experts to help determine what occurred. Marriott learned during the investigation that there had been unauthorized access to the Starwood network since 2014. Marriott recently discovered that an unauthorized party had copied and encrypted information and took steps toward removing it. On November 19, 2018, Marriott was able to decrypt the information and determined that the contents were from the Starwood guest reservation database.

    AIR's loss estimates are based on an analysis performed using its Cyber Model. These estimates are subject to uncertainty and are not based on actual policy or loss data reported by Marriott. The net financial impact to Marriott will be partially mitigated by the cyber insurance and other liability insurance coverage they reportedly have, which are not accounted for in these estimated losses.

    AIR's modeled loss estimates include:

    - First- and third-party losses directly related to the security breach, including notification costs, forensics, credit monitoring, replacement of credit cards, setting up a call center, and any liability covered under an affirmative cyber policy

    AIR's modeled loss estimates do not include:

    - Any fines that may be levied upon Marriott, including potential fines for violation of the GDPR
    - D&O and other non-cyber policy related claims, reputational loss, business interruption, decrease of stock price
    - The impact of any insurance coverages that Marriott may use to recover their losses

    About AIR Worldwide

    AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on AIR's advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.

    For more information, contact:
    Kevin Long
    AIR Worldwide
    617-267-6645
    klong@air-worldwide.com

    ###

    This announcement is distributed by West Corporation on behalf of West Corporation clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: AIR Worldwide via Globenewswire

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Secures 26 New Projects with Total Contract Value Exceeded HK$1.0 Billion;
    Strong Project Pipeline Carries Order Book with Total Value of HK$5.0 Billion;
    Outstanding Order Book at HK$2.3 Billion

    HONG KONG, Dec 19, 2018 - (ACN Newswire) - BGMC International Limited ("BGMC" or the "Company") and its subsidiaries (collectively the "Group") (HKEX: 1693), a Malaysia-based construction services company, has announced its annual results for the financial year ended 30 September 2018 ("FYE2018").

    During FYE2018, the Group's revenue was RM515.1 million (approximately HK$983.8 million) (FYE2017: RM694.9 million), with gross profit amounted to RM52.3 million (approximately HK$99.9 million) (FYE2017: RM128.1 million). The less-than-stellar results were mainly due to the lag in time of recognising income from the order books, as the projects in hand are still in early stages which are expected to bear fruit in following years. Nevertheless, the on-going projects in pipeline will drive the Group's growth in coming years and will be able to deliver optimum returns to shareholders in long run. Profit attributable to owners of the Company stood at RM1.5 million (approximately HK$2.9 million) (FYE2017: RM54.8 million) after a goodwill impairment of RM2.3 million pertaining to the Company's subsidiaries is recognised during the year and an increased staff costs of RM8.1 million (approximately RM15.5 million) which was mainly attributable to addition to the Group's headcount during the year to cope with expanded projects activities.

    Although the Group's recorded revenue for FYE2018 was not apparently lustrous, its customer base, revenue streams and order books has remained solid, and numerous new projects from established property developers as well as government-linked companies were secured. During FYE2018, BGMC has won 26 new project contracts of total worth RM537.6 million (approximately HK$1.0 billion). Notable projects include construction of Bangsar 61 Basement Works in Kuala Lumpur (for Pelaburan Hartanah Berhad), and Building Works for a Combined Cycle Gas Turbine Power Plant at Melaka (for Hyundai Engineering Malaysia).

    CONSTRUCTION SERVICES SECTOR
    As the main revenue contributor, construction services sector has recorded revenue of RM502.7 million (approximately HK$960.2 million) in FYE2018, accounted for 97.6% of the Group's total revenue, as compared to RM684.1 million in previous year.

    Building and Structure
    Building and Structure segment contributed revenue of RM395.6 million (approximately HK$755.6 million) in FYE2018 (FYE2017: RM530.0 million), with all the major projects undertaken by the segment are still in progress during the year. In the meantime, 7 new contracts of total worth RM439.0 million (approximately HK$838.5 million) were secured during FYE2018. The single largest contract procured in the year was the Bangsar 61 project which amounting to RM273.6 million (approximately HK$522.6 million). Total value of the segment's outstanding order book as at 30 September 2018 is at a sustaining level of RM914.6 million (approximately HK$1.8 billion).

    Energy Infrastructure
    Energy Infrastructure is the new name of the segment previously known as Energy Transmission and Distribution in order to better reflect the expanded scope of work of the segment. This segment recorded revenue of RM40.1 million (approximately HK$76.6 million) in FYE2018 (FYE2017: RM56.2 million). The lower revenue was mainly due to some of the newly awarded projects that are still in infant stage with minimal or nil revenue contribution. The segment has procured 3 contracts with total value of RM31.1 million (approximately HK$59.4 million) during FYE2018, and maintained its outstanding order book of RM96.7 million (approximately HK$184.7 million) as at 30 September 2018.

    Mechanical and Electrical
    In FYE2018, revenue from the Mechanical and Electrical segment has rose 20.2% to RM45.2 million (approximately HK$86.3 million) (FYE2017: RM37.6 million), mainly benefited from projects like The Henge and D'Pristine Medini which is near to its completion. The segment also won 15 new contracts of total worth RM31.6 million (approximately HK$60.4 million) in FYE 2018, giving it a healthy outstanding order book of RM116.1 million (approximately HK$221.8 million) as at 30 September 2018.

    Earthwork and Infrastructure
    Earthwork and Infrastructure segment has recorded revenue of RM21.8 million (approximately HK$41.6 million) in FYE2018 (FYE2017: RM60.3 million). The low outstanding contract sum of and fewer new tender wins in the previous year explained the decreased activities and hence revenue of the segment in this year.

    Nevertheless, the segment was able to secure one new contract of RM36.0 million (approximately HK$68.8 million) in FYE2018 which covers Earthworks, Soil Improvements Works, Instrumentation Works and Associated Works at Kuala Langat. The outstanding order book of the segment stood at RM29.3 million (approximately HK$56.0 million) as at 30 September 2018.

    CONCESSION AND MAINTENANCE SERVICES SECTOR
    In FYE2018, this sector recorded an imputed interest income (from the availability charges of a concession agreement) of RM43.1 million (approximately HK$82.3 million) as compared to RM43.7 million in FYE2017, and the asset management service charges of RM10.9 million (approximately HK$20.8 million), surpassing RM10.5 million recorded in FYE2017.

    As at 30 September 2018, the concession with UiTM had an outstanding availability charges of RM829.7 million (approximately HK$1.6 billion) receivable over the next 17 years and 4 months of the remaining concession period, while the maintenance services had an outstanding contracts valued at RM184.0 million (approximately HK$351.4 million).

    On 12 December 2017, BGMC announced that it has secured a concession to construct and develop a Large Scale Solar Photovoltaic Plant ("LSSPV") of 30.00 Megawatt Alternate Current at Kuala Muda, Negeri Kedah, Malaysia ("LSSPV Plant"). Subsequently, on 27 March 2018 and 24 April 2018 respectively, the Group has signed a 21-year Power Purchasing Agreement ("PPA") with Tenaga Nasional Berhad ("TNB"), the sole electricity distributor in Peninsular Malaysia, and received the Letter of Award from the Energy Commission of Malaysia ("EC").

    The Group is working towards the financial closure for the concession and is on its track to achieve the Commercial Operation Date (as defined in the Company's announcement on 27 March 2018) of the LSSPV Plant of 30 September 2020, after which it will be able to generate recurring income from the LSSPV Plant for a period of 21 years by virtue of PPA signed with TNB.

    PROSPECTS
    BGMC sees rosy prospects for its businesses. Recently, Malaysian Government has stated its intention to increase the share of renewable energy in the country's energy supply mix from the current 2% to 20% by year 2025. This development will translate into abundant opportunities for BGMC, proving its capability to build, maintain, and operate renewable energy power plant. EC is expected to launch another cycle of LSSPV plant tenders in 2019 and the Group is ready to compete for the tender. Moreover, Malaysian Government targets to establish a more regulated and sustainable structure for initiating and implementing Public Private Partnership (PPP) projects. All these developments are in favour of BGMC.

    Subsequent to FYE2018, the Group has won yet another sizeable project from MRCB Builders Sdn Bhd ("MRCB Builders"), an engineering and construction arm of Malaysian Resources Corporation Berhad, a testament to its strong customer base. The Group landed a sub-contract with MRCB Builders, the main contractor of a proposed 46-storey commercial development in Kuala Lumpur, and will undertake structural and architectural works for Tower 2 and 3 of this project with an estimated sub-contract sum of RM189.0 million (approximately HK$361.0 million). The tentative commencement dates of the project are mid-December 2018 for Tower 2 and mid-March 2019 for Tower 3. This project is scheduled to be completed on 1 November 2020.

    Moving forward, BGMC will continue to optimise its productivity and continuingly replenish its construction service order book, by tender for projects in the corporate sector, property sector (residential and commercial), industrial sector, government-linked projects and infrastructure projects in Malaysia. At the same time, it will be looking at pursue potential growth opportunities via strategic partnerships to enrich project portfolio, enlarge business footprint across the region, and thus increase market share in near future.

    Tan Sri Barry Goh, Chairman and Executive Director of BGMC, said, "With strong fundamentals and proven expertise, BGMC is well-poised to capture opportunities in the country transforming with vigour. We shall strive to heighten operational efficiency and boost competitiveness, which we believe will enable us to keep growing and create maximum shareholder value."

    As at 30 September 2018, BGMC's construction services order book carried a total value of RM2.6 billion (approximately HK$5.0 billion), and outstanding order book stood at RM1.2 billion (approximately HK$2.3 billion).

    Top 5 Ongoing Projects / Contract Value
    D'Pristine Medini: Construction of a mixed development consisting of a 3-storey retail unit, a 6-storey car park, a 23-storey office tower, a 28-storey SOHO tower, a 29-storey SOHO tower and a 27-storey hotel tower at Medini Iskandar, Johor: RM580,000,000 / HK$1,107,800,000
    The Sky Seputeh: Construction of two 37-storey towers consisting of 290 apartment units, car parks and other facilities at Taman Seputeh, Wilayah Persekutuan, Malaysia: RM292,020,000 / HK$557,758,200
    Bangsar 61: Construction of Earthworks, Basement and Associated Works for a 4-storey basement car park at Bangsar, Kuala Lumpur, Malaysia: RM273,674,000 / HK$522,717,340
    Setia Spice: Construction of a 26-storey building with a 19-storey hotel (453 rooms), a 3-storey car park and 4-storey hotel facilities, plus a 2-storey basement car park at Setia Spice, Bayan Lepas, Penang, Malaysia: RM209,488,000 / HK$400,122,080
    TNB Worker's Quarters: Construction of one 8-storey block of executive Quarters (24 units), three 9-storey blocks of non-executive Quarters (160 units) and other facilities at Kuala Berang, Terengganu: RM76,531,000 / HK$146,174,210

    About BGMC International Limited
    Founded in 1996, BGMC International Limited is a construction services company based in Malaysia. With an operating history of over 20 years, it provides a wide range of construction services to customers. Armed with experience and expertise in construction services, the Group is capable of undertaking public private partnership (PPP) projects based on the Build, Lease, Maintain and Transfer (BLMT) model that can allow it to generate long-term recurring cash flow.

    Media Enquiries:
    Strategic Financial Relations Limited
    Heidi So (852) 2864 4826 heidi.so@sprg.com.hk
    Fanny Yuen (852) 2864 4853 fanny.yuen@sprg.com.hk
    Queenie Chan (852) 2864 4851 queenie.chan@sprg.com.hk
    www.sprg.com.hk



     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

    0 0

    Operations Begun, Follows Start at Sanmen Plant Unit 1

    - All standards required by China cleared in functional, safety confirmation, and performance tests
    - 1,250 MW high-quality turbine generation facilities to contribute to stable energy supplies

    YOKOHAMA, Japan, Dec 19, 2018 - (JCN Newswire) - Mitsubishi Hitachi Power Systems, Ltd. (MHPS) announces that the steam turbine generation facilities supplied for the Haiyang Nuclear Power Plant in China have cleared all functional, safety confirmation, and required performance tests, and a handover was made on December 11. Operations at the plant have begun, making it the second site with a 1,250 megawatt class pressurized water reactor (AP1000), after the Sanmen nuclear power plant.

    The Haiyang Unit 1 began fuel loading on June 21, 2018, and reached 100% output in mid-September. On October 22, the facility reached the 168 hours of continuous demonstrated operation required by the Chinese government, and performance tests were completed on November 6. As with the Sanmen Plant Unit 1, MHPS conducted the appropriate prior verification tests of the interface between the nuclear reactor and turbine sides. The meticulous project management and close communication led to a smooth start of official operations. Trial operations for the next system, Haiyang Unit 2, are proceeding steadily, and are expected to reach 168 hours of continuous demonstrated operation within the year.

    The Haiyang Nuclear Power Plant was built by Shandong Nuclear Power Co., Ltd. in Haiyang, Shandong Province, approximately 130 kilometers east of Qingdao. This is the first nuclear power plant built in Shandong Province, and the first nuclear power project undertaken by Shandong Nuclear Power's parent company, State Power Investment Corporation Limited (SPIC).

    The Haiyang facility comprises two units, each with an output of 1,250 megawatts. Based on a technology transfer agreement with Harbin Electric Corporation, MHPS handled the designs for the turbine, heat exchanger, and auxiliary equipment, and transferred the technology. MHPS also manufactured and provided six low-pressure turbines, two high-pressure turbines, the main valves, and other equipment for the two units within the facility. Harbin Electric handled the manufacturing of the turbine casing, heat exchanger, and other equipment, while Mitsubishi Electric and Harbin Electric each supplied one of the two generators.

    Going forward, MHPS will continue to contribute to resolving the global issues of stable energy supplies, economic development, and reducing the environmental load by providing steam turbines for safe, highly reliable nuclear power generation facilities.

    About Mitsubishi Hitachi Power Systems, Ltd.

    Mitsubishi Hitachi Power Systems, Ltd. (MHPS) was formed on February 1 2014, integrating the thermal power generation systems businesses of Mitsubishi Heavy Industries, Ltd. (MHI) and Hitachi, Ltd. in a quest to further enhance their social response capabilities in all respects. These include the technological strength to create new products of outstanding quality and reliability, the comprehensive strength in engineering to oversee projects in regions across the globe, and finely honed sales and after-sale servicing capabilities. MHPS aims to come out a winner in global competition and achieve a solid position as a world leader in thermal power generation systems and environmental technologies. For more information, please visit www.mhps.com.

    Contact:
    Corporate Communication Department Mitsubishi Heavy Industries, Ltd. Email: mediacontact_global@mhi.co.jp Tel: +81-(0)3-6716-2168 Fax: +81-(0)3-6716-5860

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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