Blockchain organisations partner to secure digital assets

KUALA LUMPUR, Aug 24 (Bernama) -- A coalition of blockchain organisations -- Uphold, Cred, Blockchain at Berkeley and Brave -- announced a universal transparent reserve and custody standard that introduces ‘Proxy’ digital assets to the world via the Universal Protocol Platform (UP Platform).

The UP Platform which recently announced early backing by a group of leading institutional investors, serves as the hub for the creation and management of ‘proxy’ tokens and user features that will drive mass user adoption of cryptocurrencies.

“The Universal Protocol Alliance is coalition of companies promoting a new technology that gets stronger as the network of members and use cases gets bigger,” said chairman of the UP Alliance and Co-founder of Cred, Dan Schatt.

“We are actively seeking partners that would like to benefit from this new technology that we believe will set the standard for transparency, convenience and make an unprecedented amount of liquidity available for the ecosystem,” added Schatt.

Digital assets like Bitcoin and Ethereum exist on separate blockchain platforms resulted in significant inefficiencies as separate blockchain projects are unable to collaborate in any meaningful way, without complex and often costly work-around solutions.

The UP Platform will work to solve this issue by allowing all  cryptocurrencies to become accessible on a single network through the introduction of Proxy Tokens -- a digital representation of their underlying asset that able to exist on other blockchains. 

Using Proxy Tokens, the UP Platform creates a common universal language that allows distinct blockchains and token-based projects to interact freely and frictionlessly with each other, a statement said.

It will publish the value of its assets in custody in real-time on a public blockchain whereby the reserve will also be subject to quarterly third-party audits that will be shared with the community to demonstrate the financial soundness of the Proxy Token ecosystem.

The UP Platform will also unlock the vast and untapped full potential of blockchain to transform how individuals and businesses store and transfer value, with Proxy Tokens representing the next generation of digital money.

For everyday users, the platform introduces groundbreaking new types of safeguards that render cryptocurrencies significantly more practical and convenient to own, such as private key recovery, inheritability and loss assurance. More details at https://universalprotocol.io

-- BERNAMA

SIMEX (OTC: ARGB) ANNOUNCES THE BEGINNING OF THE PUBLIC OFFERING

American Retail Group Inc. (aka Simex Inc.) the public corporation organized in the State of Nevada, USA

LAS VEGAS, Aug 23 (Bernama-GLOBE NEWSWIRE) -- SIMEX Inc. announces the beginning of the public offering of its convertible preferred shares in the amount of 10 million shares at the price of 20 USD per share. Shares offering is officially registered in accordance to SEC requirements. The raised funds will be used towards increasing the liquidity of the cryptocurrency and digital assets exchange platform which is also developing  the technology of trading in "one account" mode, marketing and further development of the platform.

The feature of this offering is that the sale of shares could be made for cryptocurrencies such as BTC, ETH, Litecoin, Dash, EOS.

Purchase could be made through the smart-contract by purchasing of SMX tokens, the tokens are convertible to SIMEX's preferred shares in the ratio of 20 tokens per 1 preferred share.

All investors can have the SEC qualified custodian and escrow services provided by Prime Trust.

SMX Token allows you to reduce the commissions when trading on the SIMEX Exchange depending on the balance of the user's account up to 0%.  SMX token also gives the right to have discounts purchasing any products and services within the platform.

The Board of Directors decided to pay 40% of the corporation profit annually on these preferred shares until the common share price reaches 40 USD on the stock market. After that the corporation has a right to force to convert  preferred shares into common shares at the ratio of 1:1.

This offer will last until March 1st, 2019 or until the shares are fully sold out.

The detailed description and information about this offer can be found on the website of the corporation at https://simex.global in the SMX TOKEN SALE section.

Contact information:
Email: info@simex.global
Headquarters: 2770 S Maryland Pkw, Suite 300 Las Vegas, NV 89109

Source : Simex Inc

--BERNAMA

RF IDeas appoints new International Pre-Sales Engineer

KUALA LUMPUR, Aug 29 (Bernama) -- RF IDeas Inc has appointed Menya Nsanzumuco as International Pre-Sales Engineer, effective immediately.

RF IDeas is a leading innovator and manufacturer of employee badge and credential readers for in-building applications such as computer access, identification and secure print.

The company in a statement said Menya Nsanzumuco will be based in London to provide pre-sales technical and business support to new and existing customers, partners, distributors and systems integrators throughout the Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC) regions. 

“Menya’s rich technical background paired with his innate ability to relate to customers makes him a strong choice for this role,” said Senior Vice President – Global Sales and Marketing, Tod Besse.

“As RF IDeas looks to strengthen our investment in the Europe and international markets, Menya’s role will be crucial in ensuring the satisfaction of our global clientele,” Besse added.

Menya has more than ten years experience in remote, field, installation and software technical sales. He worked for several Fortune 100 companies including Xerox Scanners, General Electric and most recently Philips Health Systems UK and Ireland.

He has a Master’s Degree in Electronics Engineering with Satellite Engineering from the University of Surrey and is fluent in English and French.

More details on https://www.rfideas.com

--BERNAMA

AMAZON GAME STUDIOS ANNOUNCES THE GRAND TOUR GAME

Upcoming episodic game based on hit Prime Original series lets players race exotic cars, recreate wild challenges, and join in Clarkson, Hammond, and May’s shenanigans

SEATTLE, Aug 23 (Bernama-BUSINESS WIRE) -- Amazon.com (NASDAQ: AMZN) today announced that Jeremy Clarkson, Richard Hammond, and James May are bringing high-jinks and hot laps to PlayStation 4 and Xbox One in The Grand Tour Game, an episodic racing game based on the hit Prime Original series, The Grand Tour. Created by Amazon Game Studios, The Grand Tour Game transports players to exotic locations, where they'll drive the world's most interesting cars, and participate in the show's outrageous challenges. New episodes of The Grand Tour Game will be added weekly during Season 3 of the show, capturing cars, locations, and surprises from each week's episode. Visit www.playthegrandtourgame.com for more information.
 

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20180821005353/en/

The Grand Tour Game puts players behind the wheel of the cars from Season 3, and brings them to the iconic locations the hosts will visit this season, including The Grand Tour's signature Eboladrome test track. Featuring seamless transitions from clips of the show to gameplay, plus hours of original voice acting from Jeremy Clarkson, Richard Hammond, and James May, The Grand Tour Game is infused with the show's trademark humour and banter.

“It's a video game featuring me, the crashy one, and the slow one. That’s all you need to know,” said Jeremy Clarkson. “If you've always wanted to come on the road with us, this is as close as you’ll ever get. Unless you kidnap James and steal his face.”

“If you’ve ever wanted to do my job, now you can,” said James May, “Obviously not literally, it’s just a game, so please don’t go through the drawers of my desk.”

“I live in the deep countryside, so frankly I’m impressed by anything that runs on electricity,” said Richard Hammond. “But I have to admit this game is particularly brilliant, especially the four-player splitscreen.” 

http://mrem.bernama.com/viewsm.php?idm=32520

Nestlé deal with Starbucks to market Starbucks products globally

KUALA LUMPUR, Aug 28 (Bernama) -- Nestlé and Starbucks Corporation have closed the deal granting Nestlé the perpetual rights to market Starbucks Consumer Packaged Goods and Foodservice products globally, outside of the company’s coffee shops.

Both companies will work closely together on the existing Starbucks range of roast and ground coffee, whole beans as well as instant and portioned coffee besides capitalise on their experience and capabilities to work on innovation with the goal of enhancing Starbucks’ product offerings for coffee lovers globally.

President and chief executive officer (CEO) of Starbucks, Kevin Johnson in a statement said the global coffee alliance with Nestlé is a significant strategic milestone for the growth of Starbucks and helps the company to amplify the brand around the world while delivering long-term value creation for Starbucks’ shareholders.

Meanwhile, Nestlé CEO, Mark Schneider said the partnership demonstrates their growth agenda in action, giving Nestlé an unparalleled position in the coffee business with a full suite of innovative brands.

The agreement significantly strengthens Nestlé’s coffee portfolio in the North American premium roast and ground and portioned coffee business. It also unlocks global expansion in grocery and foodservice for the Starbucks brand, utilising the global reach of Nestlé.

It covers Starbucks packaged coffee and tea brands including Starbucks, Seattle’s Best Coffee, Teavana, Starbucks VIA Instant, Torrefazione Italia coffee and Starbucks-branded K-Cup pods. It excludes Ready-to-Drink products and all sales of any products within Starbucks coffee shops.

Approximately 500 Starbucks employees in the United States and Europe will join the Nestlé family, with the majority based in Seattle and London. The international expansion of the business will be led from Nestlé’s global headquarters in Vevey, Switzerland.

--BERNAMA 

Korea's COSCOI launches two smart edutainment apps for kids

KUALA LUMPUR, Aug 27 (Bernama) --  COSCOI, a Korean animation character development and digital contents company, has released two smart edutainment apps using ‘Go East’ – its typical intellectual property in animation.

‘Go East! Coloring’ and ‘Go East! Xylophone’ – educational apps for kids developed as part of ‘Coscoi Friends’ series, are launched on Google Play.

Coscoi in a statement said the app series are Coscoi’s first education business project under its vision of providing ‘global contents which will breathe new life into characters’ which distributed to 135 countries simultaneously.

The company has also completed the development of Mobile App Service (MAS), a mobile app management tool used to launch and manage various apps.

Its vice president, Ja Keun Kim said they plan to release 11 new educational apps this year.

Kim said Coscoi was in partnership with providers of famous educational contents and expecting to launch an educational video and audio platform soon.

Go East! Coloring is a learning app that will let kids color cute characters of Go East, which based on ‘Journey to the West,’ a Chinese novel. This is for babies and toddlers who may have difficulty choosing colors.

While Go East! Xylophone will let kids play the xylophone together with characters of Go East. The app will be updated with a new easy-to-follow function. More details on http://www.coscoi.net

-- BERNAMA

A.M. Best affirms credit ratings of Korea P&I Club

KUALA LUMPUR, Aug 28 (Bernama) -- A.M. Best has affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of ‘a-’ of Korea P&I Club (KP&I) South Korea and the outlook of these ratings is stable.

KP&I was founded in 2000 under the Ship-Owners’ Mutual Protection and Indemnity Association Act. The club benefits from various support from the South Korea government pivoting on its strategic role in the long-term development of the country’s marine infrastructure, which serves as a positive rating factor.

The ratings reflect KP&I’s balance sheet strength, which A.M. Best categorised as strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

A.M. Best said KP&I’s balance sheet strength is underpinned by risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio.

KP&I has maintained highly profitable operating performance with the five-year average return on equity of 10 per cent with a modest level of volatility.

However, the club experienced a sharp drop of net income in 2017 mainly due to the impact of exchange rate movement on its underwriting and investment performance.

With its business primarily concentrated in Korea, KP&I maintains about 16 per cent of market share based on premium within the domestic market.

Amid the prolonged recession in the shipping industry and increasing competition, multiple initiatives are on the way to secure its market position: strategic partnership with a member of International Group of P&I Clubs, new business opportunity under the government’s plan to build new vessels to support Korean shipping industry and overseas expansion plan.

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

--BERNAMA

VistaJet offers exclusive Michelin Stars Cantonese dining experience

KUALA LUMPUR, Aug 23 (Bernama) -- VistaJet is inviting Michelin award winning Hong Kong restaurant to re-invent its menu for passengers during the Chinese Mid-Autumn festival.

VistaJet Ltd with Duddell’s will add on-board Michelin stars cantonese dining experience with exclusive in-flight menu and limited-edition mooncakes to celebrate the upcoming festival.

President of Asia at VistaJet, Leona Qi said the idea behind the campaign starts with their shared passion for curating one-of-a-kind discovery experiences.

Both VistaJet and Duddell’s match welcoming attitude and a passion for art, to create the perfect surrounding to share good food and holiday celebration, a statement said.

The exquisite food is not limited to the air - guests will be able to enjoy the VistaJet menu in September at Duddell’s restaurants in both Hong Kong and London, which offer classic Cantonese favorites in a refined and artistic setting.

Duddell’s coveted cream custard mooncakes will also be made available outside of their Hong Kong restaurant for the first time. The delicacies will come in a limited-edition gift box and bag featuring artwork by celebrated Hong Kong-based painter, Chu Hing Wah.

The exclusive festive offering is dedicated to all VistaJet members’ appreciating fine dining experiences and looking for suggestive ways to celebrate the holiday with seasonal menu for flights departing from Hong Kong.

The menu is comprised of double-boiled black chicken soup with qi zi herbs and fish maw -- a rich and nutritious dish brimming with collagen from the fish maw -- and the Cantonese delicacy braised whole African abalone five heads with shiitake mushroom.

Meanwhile, Duddell’s London will also present its own menu for flights departing from the city including European favorites and regional variations.

VistaJet is the first and only global aviation company. It has flown corporations, governments and private clients to 187 countries, covering 96 per cent of the world. More information at https://www.vistajet.com.

-- BERNAMA  

OSMOFLO TO BECOME WHOLLY OWNED SUBSIDIARY OF HITACHI ZOSEN

OSAKA, Japan, Aug 23 (Bernama-BUSINESS WIRE) -- Hitachi Zosen (TOKYO: 7004) announced that it acquired additional shares of Osmoflo Holdings Pty Ltd (hereinafter referred to as Osmoflo), a global desalination and water treatment subsidiary based in Australia, making the company a wholly-owned subsidiary of Hitachi Zosen. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20180821005747/en/ Rationale for the transaction In February 2017, Hitachi Zosen acquired 70% of the outstanding shares of Osmoflo, making it an affiliated company. With the intension of strengthening the water treatment business which is positioned as the core business at the long term business plan “Hitz 2030 Vision”, Hitachi Zosen acquired the remaining 30 % of Osmoflo shares from Marubeni Corporation (Head Office: Tokyo, Japan / President and CEO, Director: Fumiya Kokubu). 1. Transferor Marubeni Corporation 2. Number of shares held before acquisition 1,096,517 stocks (Shareholder Voting Rights: 70%) 3. Number of acquired shares 469,937 stocks (Shareholder Voting Rights: 30%) 4. Acquisition price undisclosed 5. Date of acquisition Aug 21, 2018 6. Number of shares held after acquisition 1,566,454 stocks (Shareholder Voting Rights: 100%) Future perspective Hitachi Zosen Group aims to expand its water business by integrating Osmoflo’s advanced technologies focused principally on the reverse osmosis membrane technology with own plant engineering technology and experience accumulated in the Multi-stage Flash method and aspire to make contribution to the world water supply. View source version on businesswire.com: https://www.businesswire.com/news/home/20180821005747/en/ Contact Hitachi Zosen Corporation Miki Nagahara, +81-6-6569-0013 Shinsaku Sugimoto, +81-3-6404-0802 Ryo Kimura, +81-3-6404-0802 Public Relation Section PR_section@hitachizosen.co.jp URL: http://www.hitachizosen.co.jp/english/ Source : Hitachi Zosen Corporation --BERNAMA

​THE IASLC 19TH WORLD CONFERENCE ON LUNG CANCER ARRIVES IN TORONTO, CANADA

DENVER, Aug 23 (Bernama-GLOBE NEWSWIRE) --

What: The International Association for the Study of Lung Cancer (IASLC) presents the IASLC 19^th World Conference on Lung Cancer (WCLC) on September 23-26, 2018, in Toronto, Canada. The WCLC is the world’s largest meeting dedicated solely to lung cancer and other thoracic malignancies, and is expected to convene over 7,000 researchers, physicians, specialists, patients, advocates and industry members from around the world.

The WCLC’s scientific program features a line-up of global leaders in the field. Presentations focus on cutting-edge science, including the latest breakthroughs in targeted therapies and immunotherapies; advances in screening, early detection and staging; prevention and smoking cessation efforts; patient advocacy initiatives; and much more. Collaboration across disciplines and borders is a meeting highlight. The WCLC’s scientific program is available to review online.

When and Where: September 23-26, 2018, Metro Toronto Convention Centre North Building, 255 Front Street West, Toronto, Ontario, M5V 2W6, Canada

Who:  Surgeons, medical oncologists, radiation oncologists, pulmonologists, radiologists, pathologists, epidemiologists, basic research scientists, nurses, allied health professionals, advocates, industry representatives and media partners will gather to share findings and to further progress.

More information: Visit the conference’s official website for more information or to register.

About the WCLC:
The World Conference on Lung Cancer (WCLC) is the world’s largest meeting dedicated solely to lung cancer and other thoracic malignancies, attracting over 7,000 researchers, physicians and specialists from more than 100 countries. The conference will cover a wide range of disciplines and unveil research studies and clinical trial results. For more information, visit http://wclc2018.iaslc.org/. Follow the conference on social media with: #WCLC2018.

About the IASLC:
The International Association for the Study of Lung Cancer (IASLC) is the only global organization dedicated solely to the study of lung cancer and other thoracic malignancies. Founded in 1974, the association's membership includes more than 7,500 lung cancer specialists across all disciplines in over 100 countries, forming a global network working together to conquer lung and thoracic cancers worldwide. The association also publishes the Journal of Thoracic Oncology, the primary educational and informational publication for topics relevant to the prevention, detection, diagnosis and treatment of all thoracic malignancies. Visit www.iaslc.orgfor more information. You can also follow the IASLC on Twitter, Facebook, LinkedInand Instagram.

Contact: Becky Bunn, MSc
IASLC Public Relations Manager
Becky.Bunn@iaslc.org  | 720-325-2946  

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5f8c0583-657a-48a2-9d8b-0b3bd7897a6c

Source : IASLC

--BERNAMA

KASHA CACY APPOINTED GLOBAL CEO OF ENGINE

NEW YORK, Aug 23 (Bernama-GLOBE NEWSWIRE) -- Data-driven marketing solutions company Engine today announced the appointment of Kasha Cacy as the company’s global chief executive officer, a new position. Effective Sept. 4, Cacy will oversee Engine’s 17 offices across North America, the UK, Europe and Asia-Pacific, leading the company’s marketing solutions offering, from insights and content to distribution and technology.

Cacy joins Engine from UM, the full-service marketing and media agency network of IPG Mediabrands, where she served as U.S. CEO. She will be based out of Engine’s headquarters in New York, and will report to Engine Executive Chairman Paul Caine.

“I’m delighted to welcome Kasha to the Engine family,” said Caine. “Her talent, drive and vision will be tremendous assets as we enter an exciting time for the company and our clients. Kasha has deep expertise across media, data, marketing and consulting. She will be key in leading Engine as we build upon our differentiated offering of data, insights, content, distribution and technology, with the goal of helping our brand, publisher and agency partners succeed in driving business growth.”

“I am excited to join Engine because I think it has unlimited opportunity to serve clients’ marketing solutions needs,” said Cacy. “Individually, each of the practice areas is so impressive. And together, it creates the kind of solutions clients are going to be really excited about. I can’t wait to join the talented leaders and teams around the globe in leading a nimble, open ecosystem that will provide clients with a better way of working and greater value than ever before.”

In her ten years at UM, Cacy was most recently responsible for all U.S. operations, including more than 1,200 people in five offices, while also overseeing U.S.-based clients, including J&J, Chrysler, Coke, Hershey, Sony Pictures, USPS, CVS, and Charles Schwab. Prior to UM, she held positions at McCann Erickson, Ogilvy, Cheil Communications, Wunderman, and Accenture.

Cacy continued: “I thoroughly enjoyed my tenure at UM. I took great pride in leading the organization’s innovation and evolution, and I plan on doing the same at Engine.”

Under Cacy’s leadership, UM was named Adweek’s Global Media Agency of the Year and Ad Age’s Media Agency of the Year, among numerous honors. Cacy herself was recognized as “one of 2015’s most indispensable executives” on the Adweek 50 and as an Adweek Media All-Star.

About Engine
Engine is a data-driven marketing solutions company. Powered by data, driven by results and guided by people, we help our clients make connections that count—leading to bottom line growth, an inspired workplace and business transformation. With global headquarters in New York and 17 offices across North America, the UK, Europe and Asia-Pacific, Engine offers clients a vast range of marketing solutions—including insights, content, distribution, data and technology. Find out more at enginegroup.com or follow us @Engine_US.

Media Contact: 
Courtney Meola
DiGennaro Communications
courtney.meola@digennaro-usa.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a135b05d-aab6-4ed7-baa9-31c09ece0abf

Source : Engine

--BERNAMA

BIOCELL COLLAGEN® OFFERS SCIENTIFIC SESSION AT VITAFOODS SINGAPORE

Quality increasingly important in Asia’s collagen market

SEESTERMAN, Germany, Aug 21 (Bernama-BUSINESS WIRE) -- Asia’s collagen market is booming but consumers in the region are increasingly demanding quality and scientific substantiation. This will be the key message from category leaders BioCell Technology International GmbH at Vitafoods Asia (September 11-12 in Singapore).

Collagen is long established as an ingredient in Asia’s beauty from within market, and its benefits for joint health add to its appeal for the region’s consumers, for whom healthy aging is an increasingly important goal.

What makes BioCell Collagen® unique is that it is a highly bioavailable naturally occurring matrix of Hydrolyzed Type II collagen, chondroitin sulfate and hyaluronic acid. Multiple human clinical studies have demonstrated its benefits for joint health and skin beauty.

In one study of 80 people it was confirmed safe and effective and, compared to a placebo group, significantly promoted joint comfort and mobility. The results corroborated an earlier trial which found that it promoted joint comfort by as much as 40%.

There are also proven benefits for healthy aging and beauty. One study found that daily ingestion of BioCell Collagen® for 12 weeks led to a 13% reduction in wrinkles and a 76% reduction in dryness and skin scaling.

An overview of this growing body of research will be presented at Vitafoods Asia by Dr Vincenzo Boldrini, Scientific Manager of Sochim International, which performs clinical evaluations of the efficacy of health and nutrition products.

Suhail Ishaq, President of BioCell, said: “High quality collagen provides a unique and comprehensive nutraceutical solution for joint health, skin beauty and healthy aging. The Asian market is thriving, but as elsewhere, consumers are increasingly looking for clinically proven ingredients. Biocell is committed to quality and we’re proud that the benefits of our collagen are backed up by robust scientific evidence.”

BioCell Collagen® is available in a Halal version certified to Malaysian Standard 1500 (MS 1500) by the Halal Quality Control/ Halal Certification Germany, which is recognized globally as the most developed Halal certification program in the world and provides a benchmark for Halal schemes globally.

About BioCell Collagen®

BioCell Collagen is a clinically tested dietary ingredient that promotes active joints, youthful-looking skin, and healthy connective tissues. BioCell Collagen contains a patented composition of naturally occurring hydrolyzed collagen type II, chondroitin sulfate and hyaluronic acid in a highly absorbable matrix form that has been the subject of numerous human clinical trials, including trials on safety, efficacy, and bioavailability. For more information and a directory of where to buy products made with BioCell Collagen®, visit www.BioCellCollagen.com.

About BioCell Technology

BioCell Technology is a research, product development, branding, and marketing company that manufactures innovative, science-based raw material ingredients that have applications in dietary supplements, functional foods and cosmetics. The company licenses its branded ingredients to leading consumer packaged goods companies for use in their finished products. For more information visit www.BioCellTechnology.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180820005598/en/

Contact

For more information or to arrange a meeting at Vitafoods Asia, contact:
Ingredient Communications
Steve Harman
+44 (0)7538 118079
steve@ingredientcommunications.com

Source : BioCell Technology

--BERNAMA

​SONOS ANNOUNCES DATE FOR FISCAL THIRD QUARTER 2018 EARNINGS CONFERENCE CALL

SANTA BARBARA, Calif., Aug 21 (Bernama-GLOBE NEWSWIRE) -- Sonos, Inc. (“Sonos”) (Nasdaq: SONO) today announced that after market close on Monday, September 10, 2018, the company will report financial results for the fiscal third quarter ended June 30, 2018 in a letter to shareholders, which will be made available on the investor relations section of its website. In addition, the company will host a conference call and Q&A to discuss the results on the same day at 5:00 p.m. Eastern Time.

A live webcast and replay of the conference call and Q&A will be accessible at: https://investors.sonos.com/news-and-events/default.aspx. The replay will be available for at least one year following completion of the call. 

The conference call may also be accessed by dialing (866) 393-4306, with conference ID 6098946. Participants outside the U.S. can dial toll-free (734) 385-2616.

About Sonos
Sonos is the leading multi-room wireless smart home sound system. As the inventor of multi-room wireless home audio, Sonos innovation helps the world listen better by giving people access to the content they love and allowing them to control it however they choose. Known for delivering an unparalleled music listening experience, thoughtful home design aesthetic, simplicity of use and an open platform, Sonos makes the breadth of sonic content available to anyone.  Sonos is headquartered in Santa Barbara, California. Learn more at www.sonos.com.

Source: Sonos

Contacts
For Investors:                                                                  
IR@sonos.com 
       
For Media:
PR@sonos.com

--BERNAMA

​A.M. BEST DOWNGRADES CREDIT RATINGS OF NATIONAL INSURANCE COMPANY LIMITED; PLACES UNDER REVIEW WITH NEGATIVE IMPLICATIONS

SINGAPORE, Aug 20 (Bernama-BUSINESS WIRE) -- A.M. Best has downgraded the Financial Strength Rating (FSR) to C++ (Marginal) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b” from “bbb” of National Insurance Company Limited (National) (India). Additionally, A.M. Best has placed these Credit Ratings (ratings) under review with negative implications.

The ratings reflect National’s diminished balance sheet strength, which A.M. Best categorizes as adequate, as well as its marginal operating performance, neutral business profile and weak enterprise risk management (ERM).

The company experienced a significant deterioration in its risk-adjusted capitalization as of the year-end March 2018 filing. Its capital position fell by 42% due to significantly worse-than-forecast operating results in multiple major lines of business and a one-time absorption of the remaining reserve shortfall in its motor third-party liability business. As a result of its reduced capital position, its equity investment leverage has increased significantly, further straining risk-adjusted capital, as measured by Best’s Capital Adequacy Ratio (BCAR). The balance sheet assessment of adequate could be subject to negative revision pending the progress of initiatives to improve National’s risk-adjusted capital.

National’s ERM is not appropriate for its size and complexity and is assessed as weak. Its financial filings have significantly lagged that of its peers due to system constraints, which has hampered A.M. Best’s timely access to data. Furthermore, the company has experienced extended periods without permanent top leadership in the five years prior to March 2018.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180817005269/en/

Contact
A.M. Best
Tran Nhat Trung
Financial Analyst
+65 6303 5019
trung.tran@ambest.com
or
Chi Yeung Lok
Director, Analytics
+65 6303 5016
chi-yeung.lok@ambest.com
or
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
or
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Source : A.M. Best

--BERNAMA

WILLIS LEASE FINANCE COMMITS TO OFFERING OF $373.4 MILLION IN FIXED RATE NOTES

NOVATO, Calif., Aug 17 (Bernama-GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary Willis Engine Structured Trust IV (“WEST IV”), has priced $373.4 million in aggregate principal amount of fixed rate notes (the “Notes”). As previously announced, the Notes will be issued in two series, with the Series A Notes to be issued in an aggregate principal amount of $326.8 million and the Series B Notes in an aggregate principal amount of $46.7 million. The Notes will be secured by, among other things, WEST IV’s direct and indirect interests in a portfolio of 55 aircraft engines and one airframe. The planned closing date is August 22, 2018.

The Series A Notes will have a fixed coupon of 4.750%, an expected maturity of approximately eight years, an expected weighted average life (based on certain modeling assumptions) of 6.3 years and a final maturity of 25 years and Series B Notes will have a fixed coupon of 5.438%, an expected maturity of approximately eight years, an expected weighted average life (based on certain modeling assumptions) of 6.3 years and a final maturity of 25 years. The Series A Notes will be issued at a price of 99.99504% of par and the Series B Notes will be issued at a price of 99.99853% of par.

Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.  Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees.  Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them.  Our actual results may differ materially from the results discussed in forward-looking statements.  Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as terrorist activity, changes in oil prices and other disruptions to the world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet the changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in Willis’ Annual Report on Form 10-K and other continuing reports filed with the Securities and Exchange Commission.

CONTACT:
Scott B. Flaherty
Chief Financial Officer
(415) 408-4700

Source : Willis Lease Finance Corp.

--BERNAMA

L&M COAL HOLDINGS WINS $US40 MILLION NZ HIGH COURT ACTION AGAINST BATHURST RESOURCES

AsiaNet 74820
 
SYDNEY, Australia, 20 Aug., 2018/Medianet International-AsiaNet/--
 
--Media Statement Issued on Behalf of L&M Coal Holdings Limited
 
On 17 August 2018 New Zealand's High Court has ruled in favour of L&M Coal Holdings Limited's (LMCH) $US40 million legal action against Bathurst Resources Limited (BRL) and its subsidiary Buller Coal Limited (Buller).
  
LMCH successfully argued that further payment for West Coast coal assets that it sold to Buller in 2010 in a deferred settlement agreement was due because Buller had triggered agreed production levels.
  
LMCH sought to resolve the matter amicably before taking court action but was not able to negotiate an acceptable arrangement with BRL.
 
The High Court judgment entitles LMCH to the $US40 million amount, together with interest and legal costs.
  
LMCH will continue to press BRL to fully comply with a number of other outstanding contractual obligations in connection with the permits for mining on the Denniston Plateau which LMCH sold to Bathurst 8 years ago.
 
BRL has already advised LMCH that it intends to appeal the decision. LMCH will oppose any appeal and invites BRL to focus constructively on taking active steps to commence exploiting the valuable coal resources on the Denniston Plateau from which LMCH is entitled to be paid royalties.
 
When the next production threshold is met, BRL will be required to pay to LMCH the next $US40 million of the deferred sale consideration, as well as issue the performance shares to LMCH as required under the sale arrangements (equating to 5% of the post-issue share capital of Bathurst). The performance shares are also required to be issued upon Bathurst receiving notice of a third party proposal to acquire more than 50% of Bathurst shares.
  
Source: L&M Coal Holdings Limited 
 
--BERNAMA

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